Unless you travel exclusively within your own country, it is hard to avoid foreign exchange fees on purchases. What is most annoying is that in addition to paying the exchange rate between two currencies, you also pay a transaction fee of anywhere between 2% and 4% when you exchange cash or when you purchase items on your credit card that are priced in a foreign currency.
The Canadian Snowbird Association Currency Exchange Program
The Snowbird Currency Exchange program provides a cost effective way to exchange Canadian dollars to US dollars. The program works by pooling the funds of all participants and buying US dollars in bulk at a very competitive rate. Typically the exchange rate is 2 to 4 cents per dollar better than if you exchanged dollars at a financial institution.
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This post will not tell you how I became a successful day trader making a thousand dollars a day in just 90 days. As tempting as it may be to think that making money trading stocks can be that easy, it’s not. Day trading is not easy and it will not make you instantly rich. In fact it is extremely difficult even for an educated person with investing experience.
However, it is possible to make money day trading. What it takes is training and self-discipline. The rewards include not only money and freedom from a 9 to 5 job, but a daily mental challenge that many will find very exhilarating. Others will find it extremely stressful and most people who begin day trading cannot overcome the mental barriers that our personalities create.
To be successful at day trading, you will need the right tools, education, patience and practice. If you think that day trading may be for you, here are a few tips to get you started.
Continue reading “A Beginner’s Guide to Day Trading”