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US stock discussion v4, Bulls-Bears HUAT AH!! Pigs get slaughter
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orangutan
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Oct 22 2011, 10:55 PM
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QUOTE(simonc @ Oct 22 2011, 10:12 PM) I think you TT the $$$ to US brokers and trade is better than letting CIMB earn your "currency conversion" at a premium  DMC (danmooncake) mentions before he uses TD Ameritrade, OptionExpress, ScottTradeOption First and MBTrading. Best you ask the man himself. Ya, I would like to know too. Been reading & searching this forum but not getting the answer.
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orangutan
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Oct 22 2011, 11:00 PM
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QUOTE(danmooncake @ Oct 22 2011, 10:57 PM) I use US brokers directly (ScottTradeOptionFirst, OptionExpress, TD Ameritrade, and MBTrading). Many of them are online and you can apply directly and submit your documentation later by mail. I kept all my trading currency in USD, so no conversion needed and I don't plan to repatriate my money unless necessarily need them (like big purchase, future retirement, etc....). I'm active trader and I can't depend on local banks/remisier to do the transaction for me. By the time you let them execute your trade, the price action would already made its move. Split second decisions, no second guess. Besides my late evening work allows me the flexibility to trade with US timezone.  Thanks! No wonder you are able to reply at this time. I'll check those brokers you mention.
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orangutan
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Oct 28 2011, 02:02 AM
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Hypothetically, not that I want, but let's just say the US Stock Market crash. What will happen to your $$$ in your US Broker account?
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orangutan
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Oct 28 2011, 09:21 AM
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QUOTE(danmooncake @ Oct 28 2011, 04:32 AM) Well, there where two major crashes when I was in market. I've survived the dot com bust in 00/01 and housing bubble crash in 08/09. My portfolio took quite a beating in 00/01 but in 08/09, I rode the bear and bulls later when it recovers. Everything came back more than double. So, no fear.  My concern is if the broker closes down/bankrupt, will you lose your money?
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orangutan
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Oct 28 2011, 09:56 AM
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QUOTE(danmooncake @ Oct 28 2011, 09:47 AM) That is what SIPC is for.. if the broker bankrupt, you're guarantee for all the shares (amt not worth) that you've bought. Thanks dmc! I'll go read up SIPC.
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