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 US stock discussion v4, Bulls-Bears HUAT AH!! Pigs get slaughter

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kevinpang
post Nov 16 2011, 11:27 PM

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Hi All, I am new to US stock trading. I came to know Options Trading few months ago, and done virtual trading for few months. I found many good information inside this forum. :-)

I notice most of you seems to be trading stock. Does anyone trade Options here ? I am interested in options because I can participate in expansive stocks...

Btw, I would like to fund my OptionsXpress account from my Maybank2u. I remember I see a guideline here before, but I could not get it back(few hunderd pages searched). Can anyone help me to fund my OptionsXpress account ? What is "Fed Wire" ? I just afraid that my money lost somewhere during TT transfer...Appreciates if anyone can assist me..:-)


kevinpang
post Nov 17 2011, 09:26 AM

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QUOTE(honglun @ Nov 17 2011, 01:00 AM)
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!
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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.


Added on November 17, 2011, 9:40 am
QUOTE(danmooncake @ Nov 16 2011, 11:42 PM)
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.
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Hi 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
kevinpang
post Nov 17 2011, 01:38 PM

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QUOTE(danmooncake @ Nov 16 2011, 11:42 PM)
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.
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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 ?


Added on November 17, 2011, 1:41 pm
QUOTE(danmooncake @ Nov 17 2011, 10:22 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..  laugh.gif
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Great 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.


Added on November 17, 2011, 2:08 pm
QUOTE(danmooncake @ Nov 3 2011, 07:08 PM)
But, if the market stays still.. I will lose 'coz my option will burn.  sweat.gif
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Do 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 ? smile.gif



This post has been edited by kevinpang: Nov 17 2011, 02:08 PM
kevinpang
post Nov 18 2011, 10:03 AM

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QUOTE(countdown @ Nov 18 2011, 01:19 AM)
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"

------------------------------------

hope this helps... cheers,
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Thank you very much for this valuable information. smile.gif
kevinpang
post Sep 12 2012, 09:24 PM

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QUOTE(auntyQQQQQ @ Sep 12 2012, 08:24 PM)
Guys , newbie here , need a lil help yea , i am new to US market , currently opening an US broker account - OptionsXpress , i am a Chinese ,  so when i fill in my family name and first name ,  eg Wong Jin Ming becomes Jin Ming Wong isnt it in their record , next time if i withdraw money via cheque , will they honour the cheque ? Will there be same problems with TT the money back ? and next thing is that isit OptionsXpress nice ? Any hidden fees involved ? i googled and OX claimed they dont have inactive fee nor maintenance fee . I did bumped into US stock dicussion V1  , but i still cant make up my mind .. for 2012 now , what will be best brokers that u all sifu recommend me ? I am not an active trader tho ... But maybe will be one in future.. Any helps will be greatly appreciated smile.gif
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I use OptionsXpress...No doubt, OptionsXpress having a very user friendly trading platform. The only bad point is their commission fee is expansive. I used to trade Options, which cost $15 per trade. It is expansive for small trader like me. I find that most of my money has gone to comission. So if your capital is big, it should be OK.

I am thinking to use Sogotrade, but I heard a lot of bad point about Sogotrade. Anyone using Sogotrade here ?

Anyway, ThinkOrSwim also can be consider. smile.gif
kevinpang
post Nov 18 2012, 08:11 PM

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QUOTE(danmooncake @ Nov 16 2012, 10:32 PM)
Nope, I've been monitoring the pomo events. Nothing much...
Suspect it is something else.  10% drop from high - in correction territory. $Vix should in 19 already but it isn't.

Perhaps it's the slow melt with low volume doesn't spike this thing.  hmm.gif


Added on November 16, 2012, 10:33 pmOhh.. nice rally for LVS today!  rclxms.gif 

AAPL -> still dying.  doh.gif
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I think AAPL may continue dying..

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