So I am moving to the US for a new job, suddenly I need to convert CAD to US. Time for a reverse norbert's gambit using TSX/NYSE: POT as my conversion stock.
Currency value at time of trade: 1.00 CAD = 1.03991 USD
I am going to go a into detail with this post and include all the numbers. I purchased 275 shares of TSX:POT at $55.68 CAD a share with a $9.95 trading fee through RBC direct investing. Total cost: $15321.95 CAD.
I then sold these same shares immediately as NYSE:POT at $57.94 with a $9.95 trading fee, for a total proceeds of $15943.45 USD.
My personal conversion rate for the transaction: 15943.45/15321.95 = 1.04056
So instead of paying currency conversion fees, I got slightly lucky and made .65 basis points in profit on the transaction. Much better than paying fees!
2 comments:
Reverse implied odds are used to determine how much money you stand to lose. Once you have mastered pot odds and implied odds you can move on to reverse implied odds. check my blog
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