Day trading in Canada Message Board

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Gold/Mining/Energy : Day trading in Canada

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To: keith massey who wrote (3191)	5/13/1999 11:33:00 PM
From: russet	Read Replies (2) of 4467

Not sure I follow all this, but with Investorline, my account has a US side and a Canadian side. If I want to buy a US stock, and I have enough US money in my account, the trade is done on a US stock market. If there is not enough money in the account, they will take some money from my Canadian side, and charge me about 3/4% to 1% to change the Cdn dollars to Us dollars and buy the stock on the US side. I specify whether the trade will be done on a US exchange or a Canadian one. If you try to arbitrage,...hey no problem with Investorline, they will charge you about 1.5% to 3% to exchange the money. That means you need that rise on the stock to break even. I learned this the hard way by making 10 buys and sells of Yahoo in one day. I made 1-2% on each trade but when they converted my cash from Cdn to US dollars and back again to Cdn I lost quite a bit on the 10 transactions. If you want to trade US stocks, keep the money on the US side. Never convert unless the dollar rises or falls in your favor. russett If my explanation doesn't make sense to any of you, get me to explain it again, because these is a chitty way to lose money.

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