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Day Trading For Canadians For Dummies

  • E-Book (epub)
  • 384 Seiten
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Purchase the power to trade smartKnowledge is power in any endeavor, and in the quick-action world of day trading--with roller-co... Weiterlesen
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Purchase the power to trade smart

Knowledge is power in any endeavor, and in the quick-action world of day trading--with roller-coaster markets, trade wars, and new tax laws inflating both opportunity and risk--being expertly informed is what gives you the power to trade fast with a cool head. The fully updated new edition of Day Trading For Canadians For Dummies--the first in almost a decade--gives you that knowledge, taking you from the basic machinery of short-term markets to building and sticking to a plan of action that keeps your bottom line sitting pretty.

In an easy-to-follow, no-jargon style, award-winning business journalist Bryan Borzykowski provides a complete course in day trading. He covers the basics--such as raising capital and protecting one's principal investments--as well as specialized skills and knowledge, including risk-management strategies and ways to keep your emotions in check when you're plugged into an overheating market. You'll also find sample trading plans and important Canada-specific information, such as the best online brokerage firms, useful local resources, and an overview of the unique tax issues faced by Canadian traders.
* Evaluate strategy and performance
* Read market indicators
* Know your crypto
* Get your options

For day traders, every second counts: With the help of Day Trading For Canadians For Dummies, you'll know where you want to be and how to get there--and how best to profit--fast.


Bryan Borzykowski is Founder and President of ALLCAPS Content. He is a renowned business journalist and has written for outlets including The New York Times, CNBC, CNNMoney, and more. Ann Logue, MBA teaches finance at the University of Illinois. She's also a finance writer and has edited publications on equity trading and risk management.


  • Position yourself for day trading success
  • Manage risk as you buy and sell
  • Day trade stocks in today's market

Day trade with knowledge and confidence

Few market activities are as fast-paced and exciting as day trading. Learn the nuts-and-bolts of day trading and get a step-by-step plan of action for getting started in the markets. You'll discover how to understand short-term markets and positions, how to raise capital, and how to protect your principal investment. With exclusive, Canadian-specific content, the authors will guide you through everything you need to know to start day trading.


  • A step-by-step plan to get started
  • Protect your initial investment
  • Diversify your portfolio
  • Avoid scams and tricks
  • Get fantastic trading tips
  • Get insightful strategies


Introduction 1

About This Book 2

Foolish Assumptions 2

Icons Used in This Book 3

Beyond the Book 3

Where to Go from Here 4

Part 1: Day Trading Fundamentals 5

Chapter 1: All You Need to know about Day Trading 7

It's All in a Day's Work 8

Speculating, not hedging 9

Understanding zero-sum markets 9

Keeping the discipline: Closing out each night 10

Committing to Trading as a Business 11

Trading part-time: An okay idea if done right 11

Trading as a hobby: A bad idea 12

Working with a Small Number of Assets 13

Managing your positions 14

Focusing your attention 14

Working with risk capital 15

Personality Traits of Successful Day Traders 15

Independence 16

Quick-wittedness 17

Decisiveness 17

The Difference between Trading, Investing, and Gambling 18

Investing is slow and steady 18

Trading works fast 19

Gambling is nothing more than luck 19

Busting Some Day Trading Myths 20

Myth #1: I can make millions 20

Myth #2: Profits are guaranteed 21

Myth #3: Day trading is dangerous 21

Myth #4: It's easy 21

A lot of other worthwhile activities are stressful too 22

Chapter 2: The Business of Day Trading 25

A Day in the Life of a Trader 26

Setting Up Your Trading Laboratory 29

Where to sit, where to work 30

Count on your computer 30

See it on the big screen 30

Connect to the Internet 31

Fix hours, vacation, and sick leave 31

Stay virus- and hacker-free 32

The department of redundancy department: Back up your systems 33

Planning Your Trading Business 33

Setting your goals 34

Finding volatility 34

Investing in your business 36

Evaluating and revising your plan 36

Getting Mobile with the Markets 37

Controlling Your Emotions 37

Dealing with destructive emotions 38

Having an outlet 41

Setting up support systems 42

Watching your walk-away money 43

Managing the Risks of Day Trading 44

It's your business 44

It's your life 44

Chapter 3: Introducing the Financial Markets 45

Having a Firm Grasp How Markets Work 46

Supply and demand 46

Exchanges versus over the counter 47

Commissions, fees, and spreads 48

Understanding zero-sum games 49

Opening an Account and Placing an Order 50

Opening a brokerage account 50

Placing your initial order 50

Closing out your order 50

Taking your cash 50

Defining the Principles of Successful Day Trading 51

Working with a small number of assets 51

Managing your positions 52

Focusing your attention 53

Understanding Risk and Return 53

Recognizing what risk is 54

Getting rewarded for the risk you take 57

Market efficiency in the real world 58

Chapter 4: Assets 101: Stocks, Bonds, Currency, and Commodities 61

Grasping the Different Things to Trade 61

Defining a Good Day Trading Asset 62

Looking for liquidity 62

Homing in on high volatility 64

Staying within your budget 65

Making sure you can use margin 65

Taking a Closer Look at Stocks 67

How Canadian and U.S stocks trade 68

Where Canadian stocks trade 69

Where U.S stocks trade 72

The high-risk over-the-counter exchanges 74

Dark pools 75

Examining Bonds 75

How bonds trade 76

Listed bonds 77

Over-the-counter trading 77


Titel: Day Trading For Canadians For Dummies
EAN: 9781119736745
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (epub)
Hersteller: For Dummies
Genre: Mathematik
Anzahl Seiten: 384
Veröffentlichung: 10.11.2020
Dateigrösse: 3.8 MB