Borzykowski Bryan - Day Trading For Canadians For Dummies

Day Trading For Canadians For Dummies

by Ann C. Logue, MBA and Bryan Borzykowski

Day Trading For Canadians For Dummies

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Library and Archives Canada Cataloguing in Publication

Logue, Ann C.

Day trading for Canadians for dummies / Ann Logue, Bryan Borzykowski.

Includes index.

Issued also in electronic formats.

ISBN 978-0-470-94503-2

1. Day trading (Securities). 2. Electronic trading of

securities. 3. Day trading (Securities)--Canada.

4. Electronic trading of securities--Canada.

I. Borzykowski, Bryan II. Title.

HG4515.95.L63 2011 332.63228 C2010-906493-3

ISBN 978-0-470-94503-2 (print); 978-0-470-95198-9 (ePDF); 978-0-470-95199-6 (ePub); 978-0-470-95201-6 (eMobi)

Printed in Canada

1 2 3 4 5 RRD 13 12 11 10 09

About the Authors

Ann C. Logue, MBA, is the author of Hedge Funds For Dummies (Wiley, 2006). She has written for Barrons, The New York Times, Newsweek Japan, Wealth Manager, and the International Monetary Fund. She is a lecturer at the Liautaud Graduate School of Business at the University of Illinois at Chicago. Her current career follows 12 years of experience as an investment analyst. She has a B.A. from Northwestern University and an M.B.A. from the University of Chicago, and she holds the Chartered Financial Analyst (CFA) designation.

Bryan Borzykowski has been writing about personal finance and investing for a number of years, and has held editorial positions at several Canadian business magazines and Web sites. He writes regular features for Canadian Business magazine, PROFIT, MoneySense, the Toronto Star, Moneyville.ca, Advisor.ca, and has contributed to Macleans, Chatelaine, Yahoo! Finance, and the National Post, among other publications. He has been nominated for several national magazine awards, including one for an article on day trading. title

Dedication

Ann: Once again, to Rik and Andrew, for their love and support.

Bryan: To my wife, Lainie, and daughter Molly. I cant thank you enough for keeping this family moving forward. You two deserve as much, and probably more, credit for making this book and everything else I write happen.

Authors Acknowledgments

Ann: So many wonderful people helped me with this book! I talked to many day traders, brokers, and others in the investment business, including Jack Alogna and Beth Cotner, Michael Browne of DTN Inc., Nihar Dalil, Greg Gocek and Robert Cohen of the CFA Society of Chicago, Mary Haffenberg and Curt Zuckert at the Chicago Mercantile Exchange, Anil Joshi of NuFact, Karen H. at Gamblers Anonymous, James Kupfer of Waterston Financial, James Lee of TradersLaboratory.com, Wayne Lee of NASDAQ, Khurram Naik and James Cagnina at Infinity Brokerage Services, Don Padou, Chris Tabaka, Elizabeth Tabaka, and Allen Ward. I also talked to several other traders who asked to remain anonymous; they know who they are, and I hope they also know how much I appreciate their help.

As for the mechanics of putting together the book, Corbin Collins and Stacy Kennedy of Wiley were great to work with through this tough schedule ( For Dummies authors do not get to take time off!). Finally, my agent, Marilyn Allen, made it all happen.

Bryan: Day trading is a vast and complex topic. This book is a good starting point, but it takes years of reading and practice to really understand how it all works. Luckily, I was able to speak with people who have put in the time. First of all, I have to thank Ann, who wrote the original Day Trading For Dummies. She was spot on with her research and penned many of the concepts outlined in this book. But I couldnt have done my part without Bruce Seago, CMC Markets Canadas president and CEO and this books technical editor. Thanks for taking my many calls and keeping all the facts straight. I also want to thank Jean-Francois Bernier, managing director and senior vice-president of Interactive Brokers Canada; day traders Wally Trenholm and Stephen Kelly; Jamie Golombek, managing director of tax and estate planning at CIBC; Benny Osher, CA with Torontos Kopstick Osher; and several people from IIROC, the OSC, TMX Group, and other traders and publicists who helped answer seemingly random questions at all hours of the day and night. I also want to thank Canadian Business magazines managing editor Duncan Hood, who worked with me on the original day trading story that ended up getting the For Dummies ball rolling.

A big thank you must go out to Robert Hickey, my editor at Wiley, who was always offering helpful advice and kept pushing me when I felt a little lost.