Day Trading For Canadians For Dummies

Day Trading For Canadians For Dummies

by Ann C. Logue, Bryan Borzykowski
     
 

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Know the markets, gain confidence, and buy and sell like the pros

Want to succeed as a day trader in Canada? This plain-English guide shows you how day trading works, identifies the all-too-numerous pitfalls, and gives you a step-by-step action plan to get started. From classic and renegade strategies to the nitty-gritty daily practices, you'll see how to

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Overview

Know the markets, gain confidence, and buy and sell like the pros

Want to succeed as a day trader in Canada? This plain-English guide shows you how day trading works, identifies the all-too-numerous pitfalls, and gives you a step-by-step action plan to get started. From classic and renegade strategies to the nitty-gritty daily practices, you'll see how to keep a cool head and manage risk while you buy and sell your positions.

  • Establish your aims — determine your trading goals, pick your markets, and develop your business plan
  • Get equipped to trade — know what to look for in a brokerage, buy the right computer, and ensure your Internet connection and backups are up for the job
  • Prepare for the highs and lows — distinguish between trading and gambling, learn how to control your emotions, and avoid the dangers of the Internet
  • Understand regulations and taxes — investigate the U.S. and Canadian regulatory systems, discover how to report your income and expenses, and find an accountant who will work for you
  • Use technical analysis — recognize trends, calculate indicators, and steer clear of the pitfalls
  • Discover how to use leverage and sell short — consider the risks and rewards of borrowing money to make money, and investigate what to look for in a short and when to sell
  • Study the psychology and moods of the market — find out how to read indicators and money flows, and learn to sidestep common traps
  • Evaluate your performance — test your system, track your trades, and calculate your returns

Open the book and find:

  • Personality traits of successful day traders
  • A day in the life of a trader
  • What makes for a good day trading asset
  • Helpful Canadian resources
  • How to troubleshoot and revise your trading plan
  • The money management style that suits you
  • How to day trade in your RRSP and TFSA
  • Ten common day trading mistakes

Learn to:

  • Set up your accounts and office
  • Plan and research trades
  • Leverage limited capital
  • Make better portfolio decisions

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Product Details

ISBN-13:
9780470951996
Publisher:
Wiley, John & Sons, Incorporated
Publication date:
02/16/2011
Sold by:
Barnes & Noble
Format:
NOOK Book
Pages:
360
Sales rank:
960,704
File size:
9 MB

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