Beat the Bank: The Canadian Guide to Simply Successful Investing by Larry Bates

Author:Larry Bates [Bates, Larry]
Language: eng
Format: epub, mobi
ISBN: 9781775343714
Publisher: Audey Press
Published: 2018-09-11T07:00:00+00:00

Myth #1: Day Traders Only

Day traders aim to make quick profits by frequently buying and selling stocks and other securities, often within the same day. (If your goal is to become a day trader, you are reading the wrong book!) Online discount brokerage firms love day traders for the obvious reason: they generate the most activity and, therefore, the greatest profitability. The discount broker marketing/advertising focus on hyperactive clients perpetuates the Old Bay Street fiction that discount brokers are not for less active, long-term investors, like you. But anyone can take advantage of the low cost and efficiency of online discount brokers, even if all you do is buy stocks, bonds, or index ETFs today and hold them for the next ten, twenty, thirty, forty, or even fifty years. No active trading required!

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