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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: keith massey who wrote (3191)	5/13/1999 11:30:00 PM
From: The Osprey	Respond to of 4467

Keith, I think if you buy the stock in Canada you have to sell in Canada.If you buy in the US though I believe you can sell in Canada.IE Buy BIDS in the US via your US account in Greenline and sell it on the TSE with settlement to the canadian side.I will be interested to see what you find out.

To: keith massey who wrote (3191)	5/13/1999 11:33:00 PM
From: russet	Read Replies (2) \| Respond to 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.

To: keith massey who wrote (3191)	5/14/1999 9:52:00 AM
From: BradC	Read Replies (1) \| Respond to of 4467

Keith, with Greenline you can trade on a US exchange in your Cdn dollar account but the problem here is currency since they keep Cdn and US dollar accounts separate. If you sell on a US exchange in your Cdn dollar account you automatically convert and settle your US trade in Cdn dollars which is something you don't want to do. What I do in these cases is transfer the stock from the Cdn to the US account and then sell it in the US account. Obviously this is a tedious process and is not feasible when you are trying to arb something where time is critical. With Investorline or Action Direct I can trade on any exchange and simply select my settlement currency when the order is entered. In the case of BIDS I am not surprised they would not let you trade this as it is a TSE-Nasdaq listing. Let us know what Greenline tells you about this. It would be interesting to get the official scoop. Brad