Day Trading For Canadians For Dummies

Supercharge your trading prowess with expert advice from a seasoned day trader For day traders, every second counts. You need to be able to make immediate decisions based on incomplete information and a comprehensive understanding of the rules, trends, and market conditions that move prices. The newly updated third edition of Day Trading For Canadians For Dummies puts the knowledge you’ll require to consistently make profitable buy and sell decisions at your fingertips. Award-winning business journalist Bryan Borzykowski delivers jargon-free, easy-to-follow guidance on the latest day-trading strategies and techniques that work for investors based in Canada. He explains how to navigate the most recent changes to Canadian tax and securities law to maximize your trading profits, as well as the online brokerage firms and Canadian trading tools that will make your work easier. Borzykowski covers everything from the foundations of day trading—including how to raise capital and protect your principal investment—to advanced trading techniques, risk management strategies, and behavioral finance concepts that will help you keep your emotions in check as you participate in overheated markets. Inside the book: A first-hand perspective on the realities of day trading from an experienced trading and business expert Brand-new content on the most significant developments in exchange-traded funds, interest rates, and geopolitical tensions between the United States and Canada Practical sample trading plans specifically designed for Canada-based traders Perfect for novice and aspiring day traders, Day Trading For Canadians For Dummies is also a must-read for experienced traders interested in brushing up on the basics, finance professionals who want to learn more about this important part of the market, and anyone with an interest in finance, economics, and the markets.

INTRODUCTION 1 About This Book 2 Foolish Assumptions 2 Icons Used in This Book 3 Where to Go from Here 4 PART 1: DAY TRADING FUNDAMENTALS 5 CHAPTER 1: Doing Day Trading Right 7 CHAPTER 2: Introducing the Financial Markets 21 CHAPTER 3: Assets 101: Stocks, Bonds, and Commodities 41 CHAPTER 4: Assets 102: ETFs, Options, and Derivatives 61 CHAPTER 5: Assets 103: Currencies and Crypto 75 CHAPTER 6: Increasing Risk and Potential Return with Short Selling and Leverage 91 CHAPTER 7: Managing Your Money and Positions 107 CHAPTER 8: Planning Your Trades and Trading Your Plans 125 PART 2: DEVELOPING YOUR STRATEGY 143 CHAPTER 9: Picture This: Technical Analysis 145 CHAPTER 10: Following Market Indicators and Tried-and-True Day-Trading Strategies 167 CHAPTER 11: AI or DIY: Eliminating Emotion with Program Trading 189 CHAPTER 12: Day Trading for Investors 213 CHAPTER 13: Researching Research Services 227 CHAPTER 14: Determining Your Profit and Your Profit Potential 245 PART 3: DAY TRADING, INCORPORATED 267 CHAPTER 15: Setting Up Day Trading Like a Business 269 CHAPTER 16: Regulation Right Now 293 CHAPTER 17: Choosing the Right Accounts 305 CHAPTER 18: Taxes for Traders 311 PART 4: THE PART OF TENS 325 CHAPTER 19: Ten Good Reasons to Day Trade 327 CHAPTER 20: Ten Common Day-Trading Mistakes 333 CHAPTER 21: Ten Tested Money-Management Techniques 339 CHAPTER 22: Ten (or So) Good Reasons to Avoid APPENDIX: ADDITIONAL RESOURCES FOR DAY TRADERS 351 INDEX 359