i changed my mind..

the "monkeys" start to be crazy now..

It will reach USD 5.

me..
My C share performs quite well now..
expected to cross USD 5 by this week.

I Q @ 5.02

I am quite optimist.
It may reached 5.50.

yupe..
it pulled back.. that is the dangerous of playing overnight.
still some gain.. hope will move to USD5

My buying price is USD4.49, I will wait until 5.02.

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Added on October 7, 2009, 11:16 pmBut I heard that sogotrade only allows wire back money, which costs about USD 50. No check will be issued for foreigners..

This post has been edited by epalbee3: Oct 7 2009, 11:16 PM

yeah.. thanks.
I should buy it when it was 4.30. Miss the boat already..
but today it drops a bit.. I think it will up again..

Firstrade also support mandarin speaking.. you can talk with them using skype..

They charged 6.99 per trade, but you need all documents ready. There is a good real time streaming quote.

I think Sogo is better, but it only allows TT back 50USD (no free cheque issued), that means for long term only Sogo is better. Do they have real time streaming quote?

Yeah.. might sell tonight. The buying strength is weakening.

Sold 115 C @ 4.62 (Buying price is 4.49)

115 * (4.62 - 4.49) - 6.95*2 = + 1.05 USD.

Earned USD1.05. Minor profit after one week waiting..

Can buy nasi lemak already..

Better run, the buying power is not there anymore..

Really could not predict the market.. but I did earn USD 1, quite a good sign for my first US Trade.
Can't lose for the first trade.

But one thing for sure is there is not much good news available in near future..

I think in term of brokerage fee with reasonable service, Sogotrade offers USD 3 per trade, but without streaming quote.
The disadvantage is they does not allow free check withdrawal, which costs about $50 per withdrawal.
The money deposit itself has cost RM25 (suppose you use maybank wire) + conversion lost + US$15 (US receiving wire fee)
The money withdrawal costs about US$ 50 + conversion lost + RM 10 (Malaysia receiving wire fee).
That means we should be ready to bear RM300 loss before we even started to trade.

I am using firstrade now with $6.95 per brokerage. I mean I have to earn more than US$13.90 in order to make a profit.

I am thinking of a cheap way, mailing the banker cheque (Postal fee RM8.00 + bank commision about RM 10 + 3 weeks waiting time).
Withdrawal using firstrade is free, which takes about 3 weeks.
But, I might run into risk of missing my postal mail, especially when they send to me, it used regular mail.

In term of using local borkerage, I guess CIMB offers US$25 per trade. If you want to buy one time off and sell it after a few years then it worth. But you know.. US market is so volatile, I don't think holding it for long term will be beneficial.

I think they restrict you to withdraw money for some time if they subsidize you to do so..

You can. if you account has more than US$25000, then firstrade does it for free, if not Sogo may charge US$50.

After that, you may have to wait for a few months for withdrawal..

I just discovered that Sogo does not have option trading and mutual fund.

Well, all brokers have their pros and cons...

Except for needing to post the W8-BEN form which took about 2 weeks, I generally ok with their service.
Their chat system usually reponses within minutes and emails within hours. I phoned them sometimes.
But they charge me US$6.95 per trade, which is quite high for me. (compared to sogo)
Firstrade can do cash, margin, option, mutual fund and grants, they are already decades in business.

Yeah.. you are right: no single best broker. firstrade offers free streaming. I think if you are going to trade professionally, firstrade should be to the standard. No minimum is required. No forex.

I did think of changing to Sogo, but according to them, $500 is the minimum and they only allows $50 wire out for international investors like us.

I am not confident with $2 dollars trade brokers, since they receive bad feedbacks.
Perhaps I will leave my money in firstrade until it grows.
After that, I may deposit my new money to Sogotrade, which I will keep for long terms.. What is your opinion?

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Added on October 11, 2009, 3:24 pmYou must use account outward transfer, unless you have a normal US Bank account to do so. Or you can wire back the money then wire out again.
ACH only to US Bank normal account, not trading account. Of course no such facility to ease their competitors to get the money without some transfer fees (e.g. US$50 for Sogo).

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Added on October 11, 2009, 3:37 pmApparently I don't want to simply transfer my fund as each of them cost hundreds.. until it grows.

This post has been edited by epalbee3: Oct 11 2009, 03:37 PM

well.. you are right. the main downpoint should be US$6.95.
So.. I will use Sogotrade for next money transfer.

Want to use IB, but do not have that much balance.

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Added on October 11, 2009, 5:12 pmIB needs at least US$10k to open an account. Their service range is the broadest and cross-national like Hong Kong, Europe, India, US ++

For small investor like me, I will use Sogo in future..

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Added on October 11, 2009, 5:31 pmOk lar.. since my sogo is already activated. I might use it for next round.

GHz, are you sogo user now? Can you briefly elaborate your experiences and how much cost involved?
Have you tried to withdraw money before?


This post has been edited by epalbee3: Oct 11 2009, 05:31 PM

For small investor like us, brokerage fee is sometimes the most important thing, as long as we can trade, even though the interface is basic only. let me know if anyone found the cheapest with no minimum requirement and no conditions..

Yeah, it is the point.

I don't have US account, so can't take advantage of ACH. By the way, I am not planning to withdraw too often, unless I really need that money. and also until I earn enough.

How do you open US account? I been to US but never open one there.. now regret..

I went there 3 months also never thought of open one.
In fact, I was cashing my traveller's cheque at Bank of America.
Now anyway to get one?

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Added on October 11, 2009, 6:09 pmOne more question: When you wire the money there.. how much is the inward wire transfer? Firstrade charges about USD 15 once.

This post has been edited by epalbee3: Oct 11 2009, 06:09 PM

mynewuser, one thing to confirm: are you sure maybank only charge RM 10? and US charges USD 23?
from my previous experience, maybank charge RM25 while US charge US15.
I am moving to Sogo soon. May be we can share some experiences.

You save $2 per trade. let's say if 30 trades per month, you save $60, which is RM200+.
Somemore 1st month totally free. I have get my account approved, need to bank in in 30 days.