How I got started with my TFSA trading account and how I have fared so far.


In Dec 09, I decided to redeem some of my RSP proceeds and start my Tax Free Savings Account (TFSA).

I redeemed $5,000.00 on Dec 15/09.  (The bank kept 10% for taxes so my net was $4,500.00.)

$4,500.00 was deposited Dec 16/09.

I redeemed a further $2,500.00 on Dec 18/09 (The bank kept 10% for taxes so my net was $2,250.00)

$500.00 was deposited Dec 21/09 - (For a total of $5,000 for the 2009 tax year.)

I redeemed a further $5,000.00 on Dec 24/09. (The bank kept 10% for taxes so my net was $4,500.00.)

$5,000.00 was deposited Jan 5/10 - ( Max allowable for 2010 tax year.)

The remaining $1,250.00 was kept for any additional 2009 taxes.


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The TFSA is the better way to go as you do not need to pay any taxes on any redemptions. (Unlike the RSP account.)


Following charts are the results I achieved in my trading so far for both my RSP And TFSA trading accounts.


Each column is color coded to reflect the most recent account high mark as the days moved on.

At first I did not really know how I was going to treat these two accounts when it came to picking stocks.

In the end, 99% of the time I picked the same types of penny stocks.

I kept to what worked for me in the past. 

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My gross combined sales for August/10 were $7,471.05
Net = $6,866.40
87 trades @ 6.95

August has been my highest net sales month this year beating June/10.
Still strong enough to overcome the slide in the marketplace on my non-sold holdings.

My combined total last year August 31/09 was $43,154.79 - August 31/10 its 93,861.76 - up $50,706.97
































My Sept 3, 2010 closing balance of $95,214.71 is now my highest balance to date. (Sept is looking good so far.)




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Following is a snapshot of the stocks I traded in my TFSA  for the month of August/10







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Thanks for checking out my page. Red Mars

My current short term combined account goal (RSP & TFSA) is $97,000.00

Related Posts:

Why I trade Penny Stocks - Part 20

Why I Trade Penny Stocks - Part 22

Why I Trade Penny Stocks - Part 23

Why I Trade Penny Stocks - Part 24

Why I Trade Penny Stocks - Part 25

Why I Trade Penny Stocks - Part 26
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"To turn $100 into $110 is work. To turn $100 million into $110 million is inevitable."   Edgar Bronfman