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 Investing in US stocks, Does anyone know how?

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GHz
post Oct 1 2009, 08:55 AM

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I bought URE at 5.85 last night & Q to sell at 6.05. It strike when I am sleep. cool.

Also bought C at 4.60.
zamans98
post Oct 1 2009, 09:02 AM

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QUOTE(mIssfROGY @ Oct 1 2009, 02:37 AM)
Hey thanks for answering.
Oh!! so sogotrade do ask for w8ben form also la? They only ask me to fill in the signature form and gib them my passport photocopy. I am abit confused liao. Coz firsttrade they email me all those forms & stuffz i need to fill in and submit. But with sogotrade, they only emailed me the signature form. Then when i try to look in their website to check on the w8ben form, i cant find it. Or maybe i am not looking hard enuf. Where do they tell you to get the w8ben form? Their customer service sucks...they ask me to ask the tax department coz its not their business to answer me about tax!! i mean come on...they cant even tell me about the w8ben form?!! Omg......abit skeptical liao about using them. sweat.gif Oh well..maybe i am not following the right sequence.....did i jumped Q? LOL

This is where i currently am.
1. Open acc, got my username and pwd oredi.
2. They mailed me a Signature form to fill in and ask me to submit the following;
supporting documents.
·        Social Security Card
·        Proof of Identity -driver license or any government issued ID. (If you are not a U.S. citizen or resident, please submit a copy of your passport).
·        New Account Signature Form (NAS)

so...now i am wondering where to get the w8ben form coz i cant find in their webbie, n its not in the email...is it the step after?
*
W8 form is standard. I used 1 form for multiple Broker. Downloaded 1 form, fill it in (Acrobat Form format) and signed it. http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

I'm not sure why you worry too much about tax.


Only time the TAX being charged if you earn the DIVIDEND from your holding Share. I don't care much about the DIV as most of the time, a good share will appreciate in value.

Come on, after all, do you buy 10,000 shares of Microsoft, Apple etc? Not all companies will give DIV.


Added on October 1, 2009, 9:11 am
QUOTE(epalbee3 @ Oct 1 2009, 08:16 AM)
like what say, the market is unpreditable.

mid night news is dangerous because we cannot react.

C has changed position from -12cents to +14 cents during the mid-night.
*
True, any BOURSE in the world is the same, not only US market. Even KLSE can reverse trend in matter of minute. As long as there's no bad news about the company, then its a safe bet. DJIA was -125 and C was 4.51-4.52. When DJIA was -75, C was 4.58-4.62. So, based on that logic, DJIA recovered to -25, C is positive.

Not only C, all the rest follow-suit with DJIA movements.
So, you should be able to trade next week? Or still hoping for C to drop to $3?

QUOTE(GHz @ Oct 1 2009, 08:55 AM)
I bought URE at 5.85 last night & Q to sell at 6.05. It strike when I am sleep. cool.

Also bought C at 4.60.
*
Congrats - Mine not yet, URE TP 6.25 UYG TP 6.15 (need to cover comm, damn, it was filled x50 and x100, not the whole x150)

This post has been edited by zamans98: Oct 1 2009, 09:11 AM


Attached File(s)
Attached File  fw8ben.pdf ( 126.23k ) Number of downloads: 8
dannyooi_84
post Oct 1 2009, 09:37 AM

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What is your opinion on minimum amount to start trading in NYSE?

USD 5k?
zamans98
post Oct 1 2009, 02:35 PM

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QUOTE(dannyooi_84 @ Oct 1 2009, 09:37 AM)
What is your opinion on minimum amount to start trading in NYSE?

USD 5k?
*
depends on your strategy, but doable. You can choose either Day Trading or be an Investor (long term, W.Buffet style)

Go for short term, buy and sell in small quantity AKA Scalping - but you pay a lot of commission. Can sleep peacefully. Normally use max 1/4 of your capital or 25%. Do not use all your capital, preserve it for other counters.

Ex : Long URE @ 6.00 x 200 shares = $1200, sell when hit $6.10 (in 1-2 days max time, sometimes during the day itself) Profit $20 less comm (SOGO $6) so you get net profit $14.

Go for Long Term, buy n hold, visit once a week. If lower, re-enter your position.


> You can search Internet/ Forums, there's multiple strategies that US traders are using. I cannot determine which one suits you. Every1 have different risk appetite.

rosdi1
post Oct 1 2009, 04:29 PM

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I had being tradin in the US market for more than 5 years both in equities and options.
I am happy to share information. Please PM me if you need more information.
zamans98
post Oct 1 2009, 07:42 PM

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QUOTE(rosdi1 @ Oct 1 2009, 04:29 PM)
I had being tradin in the US market for more than 5 years both in equities and options.
I am happy to share information. Please PM me if you need more information.
*
Great n fantastic. By the way, appreciate if you can share some important ideas. PM will hinder a healthy discussion.

Like TAXATION issue raised by some. DIVIDEND etc.

or your STRATEGY.

Last 5 years is very interesting. Come' on..
epalbee3
post Oct 1 2009, 08:39 PM

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QUOTE(zamans98 @ Oct 1 2009, 09:02 AM)
W8 form is standard. I used 1 form for multiple Broker. Downloaded 1 form, fill it in (Acrobat Form format) and signed it. http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

I'm not sure why you worry too much about tax.
Only time the TAX being charged if you earn the DIVIDEND from your holding Share. I don't care much about the DIV as most of the time, a good share will appreciate in value.

Come on, after all, do you buy 10,000 shares of Microsoft, Apple etc? Not all companies will give DIV.


Added on October 1, 2009, 9:11 am
True, any BOURSE in the world is the same, not only US market. Even KLSE can reverse trend in matter of minute. As long as there's no bad news about the company, then its a safe bet. DJIA was -125 and C was 4.51-4.52. When DJIA was -75, C was 4.58-4.62. So, based on that logic, DJIA recovered to -25, C is positive.

Not only C, all the rest follow-suit with DJIA movements.
So, you should be able to trade next week? Or still hoping for C to drop to $3?
Congrats - Mine not yet, URE TP 6.25 UYG TP 6.15 (need to cover comm, damn, it was filled x50 and x100, not the whole x150)
*
Placing order to buy 110 C today @ 4.72.
Will it be too high? I think it will still have rooms.


Added on October 1, 2009, 8:45 pm
QUOTE(epalbee3 @ Oct 1 2009, 08:39 PM)
Placing order to buy 110 C today @ 4.72.
Will it be too high? I think it will still have rooms.
*
Replacing order to buy 110 @ 4.65


Added on October 1, 2009, 8:53 pm
QUOTE(epalbee3 @ Oct 1 2009, 08:39 PM)
Placing order to buy 110 C today @ 4.72.
Will it be too high? I think it will still have rooms.


Added on October 1, 2009, 8:45 pm

Replacing order to buy 110 @ 4.65
*
oh no.. the price roses to 4.80 already..
seems like have to make the order when the market open..

This post has been edited by epalbee3: Oct 1 2009, 08:53 PM
GHz
post Oct 1 2009, 09:02 PM

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QUOTE(epalbee3 @ Oct 1 2009, 08:39 PM)
Placing order to buy 110 C today @ 4.72.
Will it be too high? I think it will still have rooms.


Added on October 1, 2009, 8:45 pm

Replacing order to buy 110 @ 4.65


Added on October 1, 2009, 8:53 pm

oh no.. the price roses to 4.80 already..
seems like have to make the order when the market open..
*
If want to buy now, maybe I suggest you to buy small position. From yesterday chart, price spike during the last few minutes before market close. It may go down but I could be wrong.

Anyway I gonna throw mine if price >4.80
epalbee3
post Oct 1 2009, 09:17 PM

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QUOTE(GHz @ Oct 1 2009, 09:02 PM)
If want to buy now, maybe I suggest you to buy small position. From yesterday chart, price spike during the last few minutes before market close. It may go down but I could be wrong.

Anyway I gonna throw mine if price >4.80
*
GHz staying awake? Thanks advising.

My order price @ 4.65 for 110 shares.

Will see how when market opens.
zamans98
post Oct 1 2009, 09:19 PM

oquıɐɹ ǝɥ ɹǝo 'ǝɹǝɥǝɯos
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QUOTE(epalbee3 @ Oct 1 2009, 08:39 PM)
Placing order to buy 110 C today @ 4.72.
Will it be too high? I think it will still have rooms.


Added on October 1, 2009, 8:45 pm

Replacing order to buy 110 @ 4.65


Added on October 1, 2009, 8:53 pm

oh no.. the price roses to 4.80 already..
seems like have to make the order when the market open..
*
SOLD C @ Pre-Market x500 @ 4.80 smile.gif
GHz
post Oct 1 2009, 09:23 PM

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QUOTE(epalbee3 @ Oct 1 2009, 09:17 PM)
GHz staying awake? Thanks advising.

My order price @ 4.65 for 110 shares.

Will see how when market opens.
*
Yeah, still early here buddy. Get ready to trade. biggrin.gif

QUOTE(zamans98 @ Oct 1 2009, 09:19 PM)
SOLD C @ Pre-Market x500 @ 4.80 smile.gif
*
Wah so fast, I may throw mine as soon market open. smile.gif
7CY
post Oct 1 2009, 09:28 PM

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has anyone tried www.thinkorswim.com to trade before?
epalbee3
post Oct 1 2009, 09:29 PM

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QUOTE(7CY @ Oct 1 2009, 09:28 PM)
has anyone tried www.thinkorswim.com to trade before?
*
no one use that.
7CY
post Oct 1 2009, 09:31 PM

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QUOTE(epalbee3 @ Oct 1 2009, 09:29 PM)
no one use that.
*
any bad experiences from thinkorswim? Mind to share?
zamans98
post Oct 1 2009, 09:31 PM

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Sold earlier. Anticipate bad opening and low pricing up to 10pm

user posted image

LONG 4.60
SOLD 4.80
epalbee3
post Oct 1 2009, 10:57 PM

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pull out..
wait and see..


Added on October 1, 2009, 11:12 pmC has dropped to 4.60. Still haven't bought. my remisier said the bearish will for long time..

This post has been edited by epalbee3: Oct 1 2009, 11:12 PM
mIssfROGY
post Oct 1 2009, 11:24 PM

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QUOTE(zamans98 @ Oct 1 2009, 09:02 AM)
W8 form is standard. I used 1 form for multiple Broker. Downloaded 1 form, fill it in (Acrobat Form format) and signed it. http://www.irs.gov/pub/irs-pdf/fw8ben.pdf

I'm not sure why you worry too much about tax.
Only time the TAX being charged if you earn the DIVIDEND from your holding Share. I don't care much about the DIV as most of the time, a good share will appreciate in value.

Come on, after all, do you buy 10,000 shares of Microsoft, Apple etc? Not all companies will give DIV.

*
Hi Thanks for the info. Abit worried when they didnt ask me about it.
yea...abit worry about tax...i duwan to be caught in a mess later for not declaring any tongue.gif

mH3nG
post Oct 1 2009, 11:34 PM

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QUOTE(zamans98 @ Oct 1 2009, 09:31 PM)
Sold earlier. Anticipate bad opening and low pricing up to 10pm

user posted image

LONG 4.60
SOLD 4.80
*
Don't know how you do it but man, were you spot on... notworthy.gif
7CY
post Oct 2 2009, 12:11 AM

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any advice on opening a margin account and day trading?
zamans98
post Oct 2 2009, 12:22 AM

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QUOTE(epalbee3 @ Oct 1 2009, 10:57 PM)
pull out..
wait and see..


Added on October 1, 2009, 11:12 pmC has dropped to 4.60. Still haven't bought. my remisier said the bearish will for long time..
*
your remisier? means through local bank. Anyway - just my comments. Read the Expert Analyst- can be found on many popular website and judge yourself.
See who is correct, your remisier or thousand of analyst who born, breed in US.

LONG 460 x500. TP 480

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