Some brokerage houses offered USD denominated RRSP and TFSA, so
you change once, bit the bullet and that's it ... you are in US
currency ... i'm with TD and they don't (yet, as they told
me it's in the plan for 2017) , so until then, I NEVER buy US
stocks in my CAD accounts.
You can get preferred exchange rate with TD and ITrade. Will be
somewhere between the daily rate offered to all the others. With
ITrade you pay I believe C$30 per quarter per account. Have the
same problem. Buy Canadian. And remember you can also be saved if
US$ goes higher between your trades.
Thanks mulisko, I'm currently with TDW and iTrade.
With iTrade, I pay $30/quarter for the "US-Friendly" account
which:
keeps the USD/CAD exchange fixed for all trades in a given day
(setting it after the market closes) -- which works well *only* if
you close out all your trades every day
uses the same USD/CAD exchange rate on buys and sells (i.e. no
spread).
However as soon as a trade continues past the end of the initial
day, I'm back into playing roulette with the currency
movements.
And iTrade's real-time P/L figures (in FlightDesk) don't use the
fixed rate when showing the P/L of a given stock. I've had
several times where FlightDesk shows a CAD profit when I sell, but
it settles as a loss two days later.
For some reason, I rarely seem to be holding stocks when the
exchange rate moves in my favour.
This Spring, I suffered a 40% drawdown on a huge position (yes,
I know, the dangers of using fundaments-only rather than technical
indicators). Half that loss (20%!) was due to how far the
USD/CAD exchange rate had changed since I bought the stock 6 years
earlier (turned a 6-bagger into a 4-bagger).
The problem with buying just Canadian stocks/ETFs is the lack of
sites (like this) that provide good technical analysis on
them....
Has anyone found a good source for Canadian technical
analysis?
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CAD/USD in RRSP
How do Canadians hedge USD/CAD fluctuations within RRSPs?
Posted by mla127 on 6th of Jan 2017 at 02:21 pm
Some brokerage houses offered USD denominated RRSP and TFSA, so you change once, bit the bullet and that's it ... you are in US currency ... i'm with TD and they don't (yet, as they told me it's in the plan for 2017) , so until then, I NEVER buy US stocks in my CAD accounts.
I too am tempted to
Posted by rojoch on 6th of Jan 2017 at 04:59 pm
I too am tempted to avoid US Stocks in my CAD accounts *but* all my investment assets are within RRSPs/RESP/TFSA.
BreakpointTrades only seems to run their analysis on US Stocks though, defeating the purpose of being a member here
Is there a way to *hedge* against currency movements by buying/selling offsetting USD whenever a trade is made?
You can get preferred exchange
Posted by mulisko on 6th of Jan 2017 at 02:27 pm
You can get preferred exchange rate with TD and ITrade. Will be somewhere between the daily rate offered to all the others. With ITrade you pay I believe C$30 per quarter per account. Have the same problem. Buy Canadian. And remember you can also be saved if US$ goes higher between your trades.
Thanks mulisko, I'm currently with
Posted by rojoch on 6th of Jan 2017 at 05:08 pm
Thanks mulisko, I'm currently with TDW and iTrade.
With iTrade, I pay $30/quarter for the "US-Friendly" account which:
However as soon as a trade continues past the end of the initial day, I'm back into playing roulette with the currency movements.
And iTrade's real-time P/L figures (in FlightDesk) don't use the fixed rate when showing the P/L of a given stock. I've had several times where FlightDesk shows a CAD profit when I sell, but it settles as a loss two days later.
For some reason, I rarely seem to be holding stocks when the exchange rate moves in my favour.
This Spring, I suffered a 40% drawdown on a huge position (yes, I know, the dangers of using fundaments-only rather than technical indicators). Half that loss (20%!) was due to how far the USD/CAD exchange rate had changed since I bought the stock 6 years earlier (turned a 6-bagger into a 4-bagger).
The problem with buying just Canadian stocks/ETFs is the lack of sites (like this) that provide good technical analysis on them....
Has anyone found a good source for Canadian technical analysis?