KP,

I trade both common stocks and options. Feel free to post your questions on options.

As for money transfer, the fastest way is via Wire transfer (using SWIFT code) to your US brokerage bank account.

But, if you are not in hurry, cheapest way is mail a bank draft or cheque (in USD) to your US broker via regular post.
Takes 10-12 days to get there, take another 7-10 days to clear. Use cheque from Bank of America, Citibank, HSBC, for faster clearance.

I would suggest you read back our previous replies as we had address many times. If you do not wish to do some homework before participating in this very dynamic market, then good luck!

Yes, everytime when I have time, I always look back to the previous post. It gaves me a lot of hints for the market. No doubt, "experience" is everything to win in this dynamic target. Thanks for your advice.

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Added on November 17, 2011, 9:40 amHi damooncake, thanks for your suggestion. :-)

I think I will still try wire TT transfer. I will try to search back the page that described the about wire TT funding. (Appreciate if anyone can show me the page directly. :-) )

Regarding Options Trading, I found that we should keep the option position NOT more than a week, especially for monthly options. It is because options price will decrease due to delta and vega. So I believe monthly options trading is more for days trading. Unless we buy longer period options. Is everyone agree on this ? Feel free to reply if any comments or advice. :-)

damooncake, what period you usually buy for options ? Weekly, monthly or few months ?

This post has been edited by kevinpang: Nov 17 2011, 09:40 AM

I play weeklies if I want to day trade. Monthly if I want to position trade.
Leaps if I am bullish on the stock much longer term (eg. AAPL).

For weeklies, I usually sell 'em.

This week, I sold LVS calls and puts which expire this Friday. It is working because it is melting away..

I re-enter LVS when it hit $44 and targetting $49 to sell it off. Too bad many sellers for past couple of days so need to wait for a while. Also noticed that some of the fund managers begin disposing bank counters such as Citicorp and RBS.

Any reasons? Or signs of banking stocks are collapsing again?

Yes.. prep for the possible leg down here.

As for LVS:
$44-$45, good spot to buy.
$48-$49, good area to sell.

Just repeat this process until the trend change. You'll make money.

Fitch rating agency issued a report that US banks will suffer due to European exposure.

OK, I found the guideline to TT money into OptionsXpress :

1) Maybank (refer to my previous post)
- Enter "0" into the "ID/Passport" since the company registration number isn't provided
- Fill up "Fed Wire" with "ABA #". For OptionsXpress, it is "021000021"
- There is NO way to send a note together with this TT.
- Save TT receipt and send it to OptionsXpress email to notify them. Wait for their acknowledgement.

But it is 2009 post, may I know is it still valid ?

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Added on November 17, 2011, 1:41 pmGreat strategies!

Btw, do you afraid that your sold options get exercise ? I heard that by putting a close order to your sold options may avoid it being exercise. It is because the broker will perfer to earn comission fees rather than exercise your options. Not sure is this is true.

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Added on November 17, 2011, 2:08 pmDo you trade straddle as well ?

I tried many straddle during my virtual trade, and most of them lost money. Some earn but not much.
I notice trade straddle must make sure the stock price move, and with low Implied volatility.
May I know when you trade straddle ? at support or resistant or middle ?



This post has been edited by kevinpang: Nov 17 2011, 02:08 PM

Yes, I usually time it BEFORE earnings announcement because it will cause big move.

Also, if you think some big move is coming but not sure which way, it will work too.
Like that move last Wed, big 300 pts drop, then 300 pts rise again.

Now, the volatility is low.. time to load up some cheap puts.

I had just TT'ed some money into my MB Trading account. Fill in the Maybank TT form accordingly and hand them to the counter, pls remember if the amount is more than RM10k equivalent, you hv to TT from your home branch account, if not generally they won't allow you to do so, unless special customers perhaps like premier, vip and etc...

Following is an example of TT'ing into MB Trading which I would say not much difference with OptionXpress.

Their company name "Penson Financial Services, Inc" which has an account with JP Morgan (066-6-00030). Leave a remarks especially ur name and acct number with them. When you TT'ed into their JP Morgan account, internally they will channel the funds into your individual account given by them. 066-6-00030 is a master/general account of MB Trading.

Beneficiary's particulars:

Penson Financial Services, Inc.
Add: 1700 Pacific Ave., Ste 1400, Dallas, TX 75201
Phone: 214-765-1510

Beneficiary's bank particulars:

JP Morgan Chase
277 Park Ave
New York, New York 10172
(212) 623-1636
ABA/routing number for JP Morgan Chase: 021000021
Account No: 066-6-00030
SWIFT number: CHASUS33.

Further credit to:
Name: "your name"
Acct no: "your individual account number"

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hope this helps... cheers,

This post has been edited by countdown: Nov 18 2011, 01:39 AM

Market puking out.

LVS - another buying opportunity at 44/45 soon.

Triangle broken

Time to go down

That's the big move we need.

Dow 11770.73 -134.86 -1.13%
Nasdaq 2587.99 -51.62 -1.96%
S&P500 1216.13 -20.78 -1.68%

I'm closing out some of the shorts and wait now. Yesterday puke was much greater, Dow lost close to 200pts.

It may take one or day before the buy signal comes in. I went in a bit early on 1225 but the floor caved in.
Had to quickly close out my position with small loss and dive back in at 1210.

Put another stop at 1205. If this can't hold tomorrow, it is going to be really ugly.
Take care!

Party just got started (Triangle baru koyak)

Dont end so soon

Triangle underwear koyak, wait for G-String koyak now?

If G string gone... everything will be exposed later.

Thank you very much for this valuable information.

No worry


This post has been edited by simonc: Nov 18 2011, 05:07 PM

Just too funny.. That would be the last resort...
Just make sure after that, don't drop that soap.


Anyway, tonight will be interesting. I expect we're going to have a short term bounce after the two major days of sell-off.

I expect 1210-15 to hold here.. but let see if bulls can get back above 1225.
If it can, we'll off the races back up again, then I'll let get some of my puts protection.

market to drop like 200 points today?

too bad just reloaded Chinese RED CHIPS..