But BZH, BAC, MPEL, LVS, MGM, WYNN ..etc were in record HIGH .

Wells Fargo Downgrade APPLE Computer

Apple DownGrade Source

This post has been edited by netmask8: Jan 3 2014, 09:34 AM

Crap! Damn MMs. Got stop out of my AAPL at 550. Oh well, at least got profits.
Let see if 540 can hold or not.

Anyone know for the currency conversion rate through cimb TT to USA. How much different compare to the actual rate n also additional bank charges? If I plan to trade directly tru USA website? Is it safe?
And how much cheaper compare to trade tru local investment bank?

I'm currently trade via cimb. Their broker charges seems fair of 0.42% n I usually select settle via Myr n the rate seems close to the current rate. eg. Today if I place order to buy :3.2995 & SELL : 3.2855. What do you all think.? Is the rate reasonable?

If you don't trade a lot, imo that conversion rate seems fair but how much do they charge for actual commissions (when you actually BUY and SELL the US stocks itself)?

Using direct US broker, I pay as low as $1 for commissions each 100 units of stock that I trade.

Commission? Are you referring to minimum broker charge? There is a minimum of Usd 25.00 and to fully utilised the 0.42% a minimum of Usd 6000.00 per trade. And all in charge about 0.6%. Which mean have to accumulate a lot bullet for each trade. Eg. Usd 6210 n total paid 6247.42 before conversion

Anyhow, yours sound so much cheaper? Where you trade?

I think financial stock is doing good. BAC n Citigroup. Try to add into your watch list. Though price is relatively highly volatile during crisis. But upside is high.

0.42% a min of 6K per trade?
So, you can't trade any US stocks if the total value is less than US6000?
It sounds crazy.

MBtrading is the one that I'm using for low volume stocks because their per share cost is 0.0075.
If you buy 100 shrs of X, you're charge $1. If you buy 500 shrs of X, you're charged $5.

Oh... 100share? So it means they charge based on each 100share and not by value of money? If that the case, which mean u have to buy stock which is higher value then it really do worth a lot. Coz high value of money but per 100share count. MBtrading? is it safe? Do they provide online trade?

break that 538 can see back to 520?....

Oh.. once that 538 is broken, then it's going to be all out shorts.
Watching this line here.

I think 545 is going to hold tonight since it is expiration Friday. Next week , who knows..

If you ask around, almost none of the US based broker charges commissions by the value of the stocks.
This is ABSOLUTELY nuts. Perhaps only greedy type of broker that virtually has no competition would do that.

TD Ameritrade for example charges flat rate of $9.99 for ANY size.
Say, I buy 100,000 shares of a stock per trade, it is still 9.99 for commissions.

There are also quite a few commissions free ETFs offered by US brokers nowadays. Go check 'em out.

[quote=danmooncake,Jan 4 2014, 12:38 AM]
If you ask around, almost none of the US based broker charges commissions by the value of the stocks.
This is ABSOLUTELY nuts. Perhaps only greedy type of broker that virtually has no competition would do that.

TD Ameritrade for example charges flat rate of $9.99 for ANY size.
Say, I buy 100,000 shares of a stock per trade, it is still 9.99 for commissions.

There are also quite a few commissions free ETFs offered by US brokers nowadays. Go check 'em out.

[/quote


okay! thank you.

Ok. Finally found my conclusion. Though cimb brokerage fees is high, but exchange rate is reasonably low for the trade. I check cimb website, currency exchange bank sell is 3.343 vs trade offer 3.2995. Can anyone tell that I'm wrong? With such a high differ rate?

What is the exchange rate (bank rate) when u transfer to your respective US account? Any transfer charges?

Cimb for those trade below USD 6k then min total charges shall be around USD35 PER TRADE. I guess so? Sound expensive. But if the exchange rate is cheap, then contra off the higher brokerage charge still consider fair.

Furthermore, I read from somewhere, when u withdraw money from US account, there is an USD 25 charges for withdrawal. So, by then it may cost about the same as cimb. Though, I haven't make any selling yet. He he... Cannot tell if cimb also impose the same.

Apple closed at 541.
Looks like it is still on its way for correction before the quarter report out end of the month.
I am looking at 525-530 area....

If you think about this carefully, you will know it isn't worth your time and money to keep buying US stocks in MYR (Ringgit) terms. It makes no sense to give the money (the spread between the BUY/SELL exchange rate) to the bank and furthermore, your trade ($35/trade) is VERY high. For that fee, it is as if you call your human broker to trade by telephone instead of you doing the trade via computer. Are you talking to a human being that offer you better service? If not, why are you paying that rate if everyone else trading US stocks and paying less than $10 per trade?

So, just keep your money in US brokerage account and let it continue to grow until you earn enough. No need to withdraw until you really need it.

I got more liquid cash in USD than in Ringgit. Last year, I was thinking USD may go down because Fed printing money.. hoping I can convert more to it cheaper, but heck, my pile of USD appreciated even more than Ringgit after the tapering fear, and the Ringgit got weaker..

This post has been edited by danmooncake: Jan 4 2014, 07:54 AM

I nimbled here and immediately sold some cover calls for next week. Let see how it goes.

RM dropped about 13% from recent peak!

Anyone using Interactive Brokers service? Seems like it's the most cost efficient platform to trade multiple markets such as sgx, hsi, NYSE due to currency conversion.

Okay, I understand what you are trying to say. The brokerage fees is indeed so much cheaper. By the way, to register with any USA trade account, I found out that, they needed us to be either US residents or at least to have US address for "tradeking". Seems like there is so much conditions and troublesome?

How did you people manage to register an US trade account?

In fact I don't really like to keep my foreign investment with local investment bank. My initial idea to trade overseas bcoz I think Ringgit value will depreciate further and what if our government go bankrupt, then all our saving gone. So, channel some money out to protect our wealth.

I'm giving you a hint already. I did say MB Trading didn't I?
Go there and check out their application. You will need to declare yourself as non-resident alien using form W-8BEN.
Your capital gain won't be taxed but dividends will be withheld.