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 Local and International Trading 101, Experience sharing

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Yggdrasil
post Mar 20 2020, 10:33 PM

Look at all my stars!!
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Senior Member
2,210 posts

Joined: Jan 2018
QUOTE(cornered corn @ Mar 20 2020, 09:58 PM)
Anyone tried a trading platform named Robinhood? It's said to be completely free?
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Yes free. But for US citizens only.
aMalaysianBOI P
post Aug 1 2020, 02:08 AM

New Member
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Probation
6 posts

Joined: Jul 2020


Hi guys, does anyone know that the pattern day trading rule aka pdt rule for trading us stocks apply for Malaysian?
ykj
post Nov 25 2020, 11:52 AM

Mission on educating on Hibah Takaful importance
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Senior Member
837 posts

Joined: Jun 2005
From: Serving your best interests in health & wealth

QUOTE(Yggdrasil @ Mar 14 2020, 05:04 PM)
Zero idea but want to be day trader  rclxub.gif laugh.gif
Day trading is not the way to build wealth.

Heavy day traders earn gross profits, but their profits are not sufficient to cover transaction costs. Moreover, in the typical six month period, more than eight out of ten day traders lose money. Despite these bleak findings, there is strong evidence of persistent ability for a relatively small group of day traders. Traders with strong past performance continue to earn strong returns. The stocks they buy outperform those they sell by 62 basis points per day. This spread is sufficiently large to cover transaction costs.

Since 80% lose money over 6 months period, do you think you are that 20%?
... You need to do your own homework. Lazy Google but want to day trade?  puke.gif
Minimum is 1 board lot (i.e. 100 units). If Maybank stock is RM8, you need minimum RM800 (RM8 x 100 units) to conduct transaction. Subsequent purchases is in multiples of board lots (i.e. 2 board lots which is 200 units).

There is odd lot market (<100 units) but the spread is very high and often nobody buys from there because there is an additional fee for buying and selling.
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Sifu, any trading app to recommend?

Would prefer those easy to withdraw money to Malaysian banks, least surcharges and able to trade using credit cards.



 

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