Enbridge Inc T.ENB

Successful Trade (Marner's Trade)

[silkos]

There are quite a few posts bashing Marner, complaining about speculations, long emails, trading ideas, conspiracies etc. Haters gonna hate, there is nothing you can do.

I'd rather read a long interesting email than a short paragraph followed by a you tube music video. That's just me.

This has to do with Marner's trade advice. I wanted to try so here it is.

I sold my ENB full position and forego the div. Reinvested the same amount from the sale to purchase ENB.

In the end it worked out at about double + the div rate.

This move is not for everyone ... but it worked this time around. You need access to funds or a margin account. It's quite stressful as you have to spend the day watching the market for both exit and re-entry points. 

It was an interesting experience - Thanks Marner for sharing!

[Backinblack1000]

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[silkos]

Hey BB I try to keep this about ENB. I was just sharing my experience - did not say it was the greatest move of all times. The move generated more than double the div rate ... which I consider favourable. And yes, I traded oil producers yesterday too. However, this is ENB board so I am trying to stay on topic.

[Backinblack1000]

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[silkos]

Not sure about the others ... my trades were in my TFSA account. Have to admit that my exist strategy was @ $49 but it hit to soon and it threw me off. At $49.10 I was still unsure what to do. Don't have time to watch music videos, they are getting noticed though. Good for you that you have the time. You should open a youtube channel :) Hat off to 1Hot ... she was discpilined and executed

[Fantome]

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[Backinblack1000]

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[silkos]

Hey BB, long story short ... I got paid double the div and some change. That's all. It's tax free since the holdings are in TFSA. I think the stock will weaken in the short term but I want to see the instititutional reports first on Monday. I may even sell again my full position May 17 as I am a bit nervous about May 18. Really ... the mediation resumes May 18, Biden visits MI same day

[Backinblack1000]

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[Huckleberry68]

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[Quintessential1]

So are you concerned about the CRA revoking your TFSA tax exempt status as I have read that day trading in a TFSA account is frowned on by the CRA? If not done within the confines of a registered account isn't all of your capital including the portion you owe taxes on now invested?  Not just the $2 divy beat but everything between your intitial buy-in price and your top sell price pre ex

[silkos]

Honesltly I am not concerned about CRA coming after my TFSA account as it's a greysh area. They have to prove patterns ... and they should show 100s it not thousands of trades within a year. Investments are not meant to be kept forever. I don't have a hundred transactions in a year not a 500K balance in my TFSA account. The idea is to buy lower so there is no way the average cost goes up

[zoltan07]

Wouldn't be too concerned about CRA..   I Have traded in registered and unregistered Accounts ...I also tried Day trading for a period of time...  Where at the end of the year you had pages and pages of trades...  day trading consumes way too much time...  High frequency trading might rise some flags...  And they deem that you're running a business through

[youknowwhat]

TFSA I would not worry about 4 trades in one security in a year. Non registered account- I think a sell and a buy on same day is fine as long as the sell does not create a capital LOSS. If it does the 30 day rule maybe enforced by the CRA.