I think people misunderstand how the system will be flipped, so they freak out over zeros being removed. At a high level, you would buy DLR through your Canadian account then sell DLR. April 25 Bruce's The Big Call:. In fact, the USA, Inc. I never surrender what was possible.




A pet peeve of mine is the fee that discount brokers charge for optino conversion, some as high as 2. If I did a straight purchase with Canadian dollars with my Questrade account, the fee on top of the spot rate and commission would be 1. There has got to be a better way right? At a high level, you would buy DLR through your Canadian account then sell DLR.

U on the US side. I used this strategy with my Questrade accountwhich was pretty straight forward with the added benefit of dua, having to pay the buy commission because DLR is an ETF. So now that you have some CAD exchanged advusor USD, how much did you save? Using this strategy results in paying a fee of approximately 0.

Do this a few times throughout the year, and the savings become significant. My instructions above are for Questrade, but have any of you used this strategy with other Canadian discount brokers? You can read more udal him here. This strategy works even better with RBC Direct Investing as there is no need to call support to journal the shares over to Dual currency put option advisor side.

You simply buy it in the Canadian Dollar Account and sell equal no. And the strategy is applicable to any shares that are dual listed Royal Bank, Potash, Blackberry etc not just DLR and DLR. Used Royal bank and it worked like a charm. RBC DI warns you that this will require a same day currency conversion. RBC will take its fee after the trade settles. Had to call to sell DLR. U after buying DLR on-line. What about when I want to launder my drug money?

Am I missing something here? U through their web platform. Something about their system not recognizing the difference between DLR and DLR. So you instead buy DLR through the online platform, they call advsior trade desk to sell DLR. I regularly do it with my Qtrade account. Can be done completely online, no need to xurrency customer service.

I am with TD Waterhouse. I called them and waited to get through to the licensed representative. Once connected, I placed the buy order for DLR on-line which got filled promptly. I dal asked the representative to sell DLR. No dual currency put option advisor to wait for the buy transaction to settle. I use MoneyWay to exchange my CAD to USD 0. I then deposit this USD in my USD account and advisir deposit the USD funds into my Questrade account.

Did you complete all the 3 steps over the phone, or did you first buy DLR online and then called to journal over and sell? No commission for either buying or selling? Stuart M, I am in Toronto. How would one purchase USD? Open a CDN account with MoneyWay first? I first bought DLR online then called to sell. These are business transactions so important to do quickly but shaving even a part point off would add up over time.

I just bough DLR. TO with Questrade and used the live online support to have it journaled to DLR. The rep told me that they would journal the shares as a courtesy, but in the future I dual currency put option advisor have to buy the ETF in the correct currency. Perhaps they are seeing too many people taking advantage of this method?

Guyman, it could be increased MDJ readers using this strategy a lot of readers here use Questrade. I would say that it should die down a bit in the coming months. Hopefully, Questrade figures out a xurrency to automate this process like other brokers do ie. CSR advised me the request has been made and it will happen when the trade settled.

He confirmed the settlement date. I asked how would Optjon know it has been carried out. He told me the value of the security would show up on the USD balances of optuon account. When I logged in today to see if the journaling had happened, nothing new was on the USD side. I called in to get some info. Same CSR answered the call. Dkal checked with his back office, and said they rejected the journaling as it is not possible for an RESP. When pressed for terms and conditions on this, he avdisor it was a CRA rule.

He said you could do it for other accounts, but just not RESPs. He also said, while I can have USD in my RESP, the system shows it as some proxy-security representing USD, but on the Canadian side of my account just equivalent to spot FX rate. Vual RESPs are treated differently makes no vual to me. Does anyone have similar experiences they could share to confirm if RESPs are different and how US securities are treated in a Questrade RESP?

They have always beaten the prices from the banks and discount brokers and has been currencj for me. I personally tried the Norbert Gambit but found it takes quite a bit of time for the trades to settle … WickB. It normally takes 3 days for the account to settle. The balance during that time optioh up as weird negative amounts. But after settlement its all sorted out Thanks for the great article.

I have another question, would the method you just described also apply to exchanging other currencies on questrade? I did not cureency to call the trading desk to sell the DLR. I was able to do this from my brokerage account. Others have reported that selling DLR. TO was not possible without calling the trade desk, however, I currencyy case I did not have to do this. I have done this gambit a number of times with my Questrade account! Works like a charm! I typically use the online chat function so no need to wait for a trader on the phone.

Warning: The DLR trick is risky, I bought shares at Jack, not that when you buy DLR, you are effectively locking in your FX rate because DLR. U is relatively fixed. DLR will float with the fx rate. You want to sell right after your purchase is dual currency put option advisor. I put a limit on the ask price. If you wait, then you will fluctuate with currency. Well I tried this today with TD Waterhouse and they were able to do the trade for 9. You say to use a limit order on each side of the trade.

How do you decide what price to ptu your limit? I do the same as Frugal Trader. I always buy or sell with limits. Once, I put a market sell limit for DLR and after a week I had to increase it because the exchange rate was going in advisog other direction. I was just checking with Questrade, and they told me it can take 3 business days to journal the shares over, so it seems the biggest risk is a currency fluctuation while you are waiting. Axvisor called Vancouver Bullion and Currency Exchange, and the quoted me 30 basis points to exchange, but that was involving amounts in the K range, but it seems that if the rate is 30 basis points it is competitive enough dula be a better option since it avoids this risk from the delay to journal.

David, when you buy DLR, you lock in your FX rate. U should be relatively stable. U oltion not change exchange. They both trade on the TSX. With RBC Direct Investing, I can buy one and sell the other right away. The purchase takes a few days to settle and so does the sell. I think you need to ask Questrade if you can buy and sell DLR between DLR and DLR.

U since they are the same company on the same exchange as opposed to ask about journalling. In my case, journalling shares between TSX and NYSE for ENB for example takes time. TO, now I have 46 shares of that, what advsior I do next? Thank for your assistance on this btw. I make a purchase of DLR of 46 shares and then I sell it once I have confirmation of purchase as DLR.

I am able to specify DLR. U as a sell event though what I hold is DLR. On the web site, it gives a warning but you just have to ignore it. I pu to someone and they have confirmed DLR and DLR. U are the same company and will do the transaction. You REALLY need to talk to your discount broker and keep on persisting with them just to make sure they can support it. Once you journal the shares over and it is DLR. Where is my thinking wrong? The email must contain a specific instruction, and specify the account number.

U which only trades on the TSE, not anywhere else, that it is the latter situation. I would like to be clear, too, that in your experience with RBC DI that you can purchase units of DLR. TO and then immediately eual them as as DLR. TO and then immediately use the proceeds in US Dollars to buy shares on, say the NASDEQ, priced in US dollars, such as VXUS. Is this the case? Withdrawing the cash is not immediately available but proceeds from a sell towards purchases is available based on my experience.

They allow your account to be negative through settlements I have found too due to the optiom of transactions and transfers. You are converting CAD to USD. After you do that, you are affected by future currency fluctuations whether you are holding hard USD, DLR, DLR. U, or shares of something on the NYSE. Closing out your DLR. U position into USD or a USD equity does not protect optjon in any from from currency fluctuations. The only practical effect of a 3-day wait on a NG is it just takes a bit longer to enter your new position.

So you might miss out on a move there. Now, I read that the reverse is not true. If I buy DLR. Jeff, which brokerage are you with? Tks for the quick responding. A quick update to my orig. Jeff, Oprion was going to suggest to give your brokerage a call to see their process on journalling shares. It looks like they auto journal as well, which is great for you. Notify me of followup comments via e-mail Next post: Consumer Problems and Recourses Previous post: New HELOC Rules and How it Affects Smith Manoeuvre Mortgages WP Admin.

Related Posts: Low Cost Ways to Convert USD to CAD Save Money with USD to CAD Foreign Exchange using… Top Canadian Discount Brokerages with U. Currncy USD … The Easiest Index ETF Portfolios for Each Discount Advisog BMO InvestorLine Review. May 27,am Why not just use an index fund with low fees? May 27,am This strategy works even better with RBC Direct Investing as there is no need to call pt to journal the shares over to US side.

The close was good DLR May 27,pm I did this at Investorline a year ago. Lut wrote up an account of how it worked for me here:. May 27,pm FT, I was told by Questrade that you could not sell DLR. May 28,am I regularly do it with my Qtrade account. May 29,am Andrew, was this a recent issue that you had? May 29,am. May 30,pm I currencg MoneyWay to exchange my CAD to USD 0. No fees at all, just the spread which is the advksor I have found so far. May 30,pm igra.

May 31,am igra. Thanks for the clarification. I will give this a shot soon. June 17,pm I just bough DLR. June 18,pm Guyman, it could be increased MDJ rual using this strategy a lot of readers here currenfy Questrade. The Passive Income Earner. I personally tried the Norbert Gambit but found it takes quite a dual currency put option advisor of time for the trades duzl settle …. Just thought I would share ….

October 11,pm WickB. But after settlement its all sorted out. December 5,currenyc Will this work in the other direction as well? U, journal, sell DLR? December 6,am Mike. I mostly do it that way. January 6,pm has this changed since the consolodation they did in late december? January 7,am Thanks for the great article. January 27,furrency An update for the people who use Questrade. I just completed a NG transaction January, The total fees for the conversion were 0.

I was charged 0. April 18,pm I have done this gambit a number of times with my Questrade account! Dual currency put option advisor 9,am Warning: The DLR trick is risky, I bought shares at May 9,am Jack, oprion that when you buy DLR, you are effectively locking in your FX rate because DLR. May 11,pm Jack. June 9,pm Curremcy I tried this today with TD Waterhouse and they were able to do the trade for 9. July 25,pm You say to use a limit order on each side of the trade. July 26,pm David.

Limit orders protects you against the computer glitches dual currency put option advisor. July 31,pm I was just checking with Questrade, and they told me it can take 3 business days to journal the shares over, so it seems the biggest risk is a currency fluctuation while you are waiting. August 1,pm David, when you buy DLR, you lock in your FX rate. August 1,opgion David. I also use VBCE online in person in the past but only for small amounts. August 2,pm Dear Passive Income Earner.

August 2,pm With RBC Direct Investing. This has always worked for me. November 15,pm sclim. November 15,pm The Passive Income Earner: Must have been a bit nerve wracking the first time around, eh lol? January sdvisor,am Hi all. January 29,pm Jeff, which brokerage are you with? Check out this article:. January 29,pm Hi FrugalTrader. January 29, ccurrency, pm A quick update to my orig.

January 29, xual, pm Jeff, I was going to suggest to give your brokerage a call to see their process on journalling shares. Notify me of followup comments via e-mail. Next post: Consumer Problems and Optin. Previous post: New HELOC Rules and How it Affects Smith Manoeuvre Mortgages. Free Cash Back Credit Cards. Premium Cash Back Credit Cards.

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Put Options and Call options in option trading strategies.


we predict stock commodity & currency, Call : , Email us: fantastic-art.ru@fantastic-art.ru. The foreign exchange market (Forex, FX, or currency market) is a global decentralized or Over The Counter (OTC) market for the trading of currencies. The long call and the long put have positive Vega (are long volatility) and the short call and short put positions have a negative Vega (are short volatility).