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Anyone trading from Singapore?
I notice a few other Singaporeans posting around here.
Want to make yourselves known to other Singapore traders?
Yes, I am from Singapore.
Currently trading stock and ES Emini via IB.
I would to hear from other Singaporean traders too.
Excellent!
Good to finally see other Singaporeans around.
Johncool, are you a full timer?
Please check your account. I have sent you a PM.
From singapore too...
I'm from Singapore too... there're quite a few singaporeans on this board too...
What do you guys trade? US markets or the Singapore markets?
Keep in touch!
I'm a proprietary trader from Singapore too!
Me trade both Singapore and Nasdaq mkts, but Nasdaq is much more rewarding. I've traded Singapore mkt for about 6yrs, while Nasdaq started out a few mths back. To do day trading in Singapore mkt is much much more difficult than Nasdaq, simply because Singapore mkt is INFESTED with house traders, neligible retail investors and mkt makers participating, lacking breadth and depth. Also, despite so much talk about transparency in Singapore mkt, there's still so much information that is often leaked out to either insiders or houses, and those in-house traders are the first group to benefit from those 1st hand insder info. One word to summarise--- FRUSTRATION!
Re: I'm a proprietary trader from Singapore too!
how do you find trading conditions in SG?
hours?
tax?
support?
services?
To: The Student
how do you find trading conditions in SG?
---If u mean trading Nasdaq in Singapore, i'll say so far, so gd. I'm trading under a prop firm, they provides all its proprietary software, fee paid is almost similar to most prop. firms in US or Canada. Level2, charts, etc all provided. My firm lease a direct access line linking to Nasdaq, so execution time is about 0.2sec.
If its SG mkt u are referring to, then I'll follow up on next message.
hours?
---We starts trading from 9pm-4am.
tax?
---There's NO capital gain tax for trading stocks in singapore! That's if u r an investor. A trader will enjoy concessionary tax rates for the first few years( cant remember) of their trading. The SG govt is trying to encourage more singaporeans to be traders when they implemented this. Alternatively, can also set up a company to take advantage of the concessionary corporate tax rate permanently for the first S$100K annual income.
support?
---Trading in Nasdaq so far so gd. Trading in SG mkt nightmare. Though there's online trading in every houses, the charting software they provide are normally daily, weekly and mthly charts! No mins or S&P/Nasdaq futures provided. A few even "borrow" charts from SGX charting service! Mkt depth, somethin similar to Level2, have to pay to subscribe. But I dun find it useful, as there's many sharks "dressing" the mkt depth book order.
services?
---No comments on that. It really depends on which dealer/remiser u are assigned to for trading in SG mkt.
Hope that helps.
Bulleye (Singapore)
To add on SG mkt..
I personally know there's lots of remisers/dealers that can't survive based on the meagre commission from only a handful of retail investors. So, what they do is, they trade using house accounts to either generate volume( sometimes to keep their bosses away!) or to make profits daily. So, its better NOT to take any recommendations from them trading in SG mkt. Its better to commit bad trades yourself than by other pple's recommendations.
hello singapore.
__________________
The market is always right.
Re: I'm a proprietary trader from Singapore too!
Quote from bulleye:
how do you find trading conditions in SG?
---If u mean trading Nasdaq in Singapore, i'll say so far, so gd. I'm trading under a prop firm, they provides all its proprietary software, fee paid is almost similar to most prop. firms in US or Canada. Level2, charts, etc all provided. My firm lease a direct access line linking to Nasdaq, so execution time is about 0.2sec.
Bulleye. what software/system u use for Nasdaq trading?? and whats the price?? thanks.
__________________
The market is always right.
Re: Re: I'm a proprietary trader from Singapore too!
Quote from Remiraz:
Hmmm we have prop firms in Singapore?
Mind recommending a few?
I'm considering joining a prop firm to day trade NASDAQ.
Didn't know our finance sector is developed enough to have such firms here! (our finance sector is pretty screwed up lol)
Quote from waytrader:
Bulleye. what software/system u use for Nasdaq trading?? and whats the price?? thanks.
Re: Re: Re: I'm a proprietary trader from Singapore too!
Quote from bulleye:
Hi,
Basically newcomers have to undergo 3mths training, and we trade on firm's capital. Though Singapore branch is setup not long ago, the parent company is well-established long enough in Canada. Its the 1st time they are into Asia. 2 branches were also setup in China, together with Singapore branch. Prop trading is new in Singapore. Its best to remain low-profile as I believed too much of a ho-ha may attract MAS attention. Its fully legal in Singapore, just that u know, the govt likes to "get a share of everything", and the worst if they setup restrictions here and there, u shld know what i mean.
Yeah, our financial sector is screwed up! So well-regulated I have to admit, but very few get caught doing "under-table" stuff. sigh...
Take care.
Hi Bulleye,
I am surprised to hear that there are prop. firms in Singapore. I am very tempted to try it out. Can you tell me about your experience ? What are the startup cost ? Is the training provided any good ? How are you doing so far ?
aya... bulleye, there r nothing secret about it...
the software use is nothing special, its similar to IB with hotkey...
as for their charting software, i think they use ESignal..
What's the website of that company ?
The singapore company does not have a website.
but the parent company swifttrade is as follow:
http://www.swifttrade.com/
Candidate Requirement (egs. diploma group or years of work experience, etc
Re: I'm a proprietary trader from Singapore too!
Quote from bulleye:
Me trade both Singapore and Nasdaq mkts, but Nasdaq is much more rewarding. I've traded Singapore mkt for about 6yrs, while Nasdaq started out a few mths back. To do day trading in Singapore mkt is much much more difficult than Nasdaq, simply because Singapore mkt is INFESTED with house traders, neligible retail investors and mkt makers participating, lacking breadth and depth. Also, despite so much talk about transparency in Singapore mkt, there's still so much information that is often leaked out to either insiders or houses, and those in-house traders are the first group to benefit from those 1st hand insder info. One word to summarise--- FRUSTRATION!
Re: I'm a proprietary trader from Singapore too!
Quote from vegasoul:
what u means is that there are a lot of inefficiencies in the singarpore market.
so Bulleye, i think sooner or later MAS will step into the company in singapore. first, this type of trading (swift trade?) company employs a large no. of traders, but the failure rate or quiting rate is very high every month. Reasons are they dun earn enough money here, better opprtunities, wants a more stable job, or maybe the payout is no good. etc. and if the company suckss, the quitters/losers will spread news that this type of prop trading cant work here across singapore(given the small pool of people) fast....
__________________
The market is always right.
Quote from waytrader:
so Bulleye, i think sooner or later MAS will step into the company in singapore. first, this type of trading (swift trade?) company employs a large no. of traders, but the failure rate or quiting rate is very high every month. Reasons are they dun earn enough money here, better opprtunities, wants a more stable job, or maybe the payout is no good. etc. and if the company suckss, the quitters/losers will spread news that this type of prop trading cant work here across singapore(given the small pool of people) fast....
Quote from bulleye:
Hi,
I certainly hope not, becoz prop trading is radically different from those bucket shops trading in commodities in 1990s. The key difference is, we dun have to come up with huge amount of capital, and losses absorbed by company. Secondly, traders are in full control of their own trades.
Lets hope other prop firms that follow into Singapore do not damage the prop trading line. Every industry has its bad sheep. U know, too many cooks spoilt the soup...
Best Rgds
unless the payout is good then more ppl will join..else they would be better off working day earning lesser. singaporean need to see $$$$ before they commit. no money cannot survive here in singapore.... haha.
but hope there will be a successful Prop Firm establish here..
__________________
The market is always right.
Quote from Remiraz:
Are there even enough traders for prop firm to survive?
All the retail traders I know have day job or trading casually once a day.
Singapore, being the "kiasu" place it is, has few people looking to be a full time trader.
Even those from Poly/Uni finance courses who have the "dream" of becoming a trader one day is looking at being remisers or Locals.
Our people just have no guts to do it on their own.
They "die die" need people to hold their hands.
SGX is so extremely risk averse, still living in fear of another Nick Leeson. I will be shocked if prop gains a real foothold there. The derivatives exchange is still operating in the stone age and the omnipotent regulators don't give a damn for anything except CYA, despite the nonsense they put out in the press.
And who wants to trade Nasdaq/NYSE day in and day out from Singapore - the hours are Sh*t.
Any prop firm incurs the smallest infraction and they will be gone, likely with all the employees with professional sanctions on their record to boot. Just seems much more logical to base the firm somewhere else. KL is close, as is HK, Taipei. I would bet the China prop market will become extremely lucrative over time, but few western firms will have the resources and fortitude to establish a presence. For prop, Singapore is just not worth it IMO.
Singapore prop trading
Hopefully prop trading firms will establish a foothold in Singapore – this applies to both stocks and futures trading. It is common knowledge that SGX is pushing to migrate all their products to an all screen environment within a year. Their flagship contract Eurodollar futures (not the currency) has seen virtually all of its volume revert to CME’s GLOBEX platform. The great hope for Singapore derivatives trading is for an electronic Nikkei 225 contract to take on the mighty Osaka…
Prop trading really means that in-house traders are backed and trained by the firm. In addition to a percentage of any profits the firm will take overrides on commissions, desk fees, interest costs and other admin fees. They hope that out of every batch of young starry eyed youngsters, a superstar will emerge.
Unfortunately in Singapore, most of the futures clearers have not the patience, fortitude or skilled personnel to develop profitable teams. In a nutshell the firms are unwilling to make the capital investment in good infrastructure nor have the patience to develop such teams (2 yrs plus.)
Contrast this to Chicago, where prop shops are a dime a dozen. Are the American traders functionally any more different than Singaporeans – no not really? As a foreigner I have had the opportunity to work on SGX for a few years and personally know some of the biggest traders on the floor. They are gutsy, real risk takers and most importantly people of integrity; surely comparable to any of the top Chicago traders. I also speak for some the order fillers when I make this comparison.
Unfortunately the floor will no longer exist so such comparisons become moot. The future of the Singapore market is with the young, aggressive, western thinking graduates. They don’t have any baggage or preconceptions (unlike us old dogs!!) about electronic trading.
Singapore has a long history of futures trading going back to 1982 (When SIMEX was formed.) I hope that high quality prop trading firms can recognize the opportunity and begin to train the new generation.
G.
Re: Singapore prop trading
Quote from ukxgerard:
Hopefully prop trading firms will establish a foothold in Singapore – this applies to both stocks and futures trading. It is common knowledge that SGX is pushing to migrate all their products to an all screen environment within a year. Their flagship contract Eurodollar futures (not the currency) has seen virtually all of its volume revert to CME’s GLOBEX platform. The great hope for Singapore derivatives trading is for an electronic Nikkei 225 contract to take on the mighty Osaka…
Prop trading really means that in-house traders are backed and trained by the firm. In addition to a percentage of any profits the firm will take overrides on commissions, desk fees, interest costs and other admin fees. They hope that out of every batch of young starry eyed youngsters, a superstar will emerge.
Unfortunately in Singapore, most of the futures clearers have not the patience, fortitude or skilled personnel to develop profitable teams. In a nutshell the firms are unwilling to make the capital investment in good infrastructure nor have the patience to develop such teams (2 yrs plus.)
Contrast this to Chicago, where prop shops are a dime a dozen. Are the American traders functionally any more different than Singaporeans – no not really? As a foreigner I have had the opportunity to work on SGX for a few years and personally know some of the biggest traders on the floor. They are gutsy, real risk takers and most importantly people of integrity; surely comparable to any of the top Chicago traders. I also speak for some the order fillers when I make this comparison.
Unfortunately the floor will no longer exist so such comparisons become moot. The future of the Singapore market is with the young, aggressive, western thinking graduates. They don’t have any baggage or preconceptions (unlike us old dogs!!) about electronic trading.
Singapore has a long history of futures trading going back to 1982 (When SIMEX was formed.) I hope that high quality prop trading firms can recognize the opportunity and begin to train the new generation.
G.
Quote from BlueHorseshoe:
And who wants to trade Nasdaq/NYSE day in and day out from Singapore - the hours are Sh*t.
Re: Re: Singapore prop trading
Quote from bulleye:
They tend not to have the determination and patience too.
the best traders in singapore are "gutsy, daring, fast, and Ya Ya papaya" determination and patience doesnt help much la..
__________________
The market is always right.
Quote from waytrader:
the best traders in singapore are "gutsy, daring, fast, and Ya Ya papaya" determination and patience doesnt help much la..
of cos... they are gutsy and daring now because they have make the mistakes like ::-->whissy whashy, thinking too much, patience=hanging to losers, determination=not willing to accept lossing positions etc etc....
positive thinking and positive attitude are different too...does one know how to differenciate the two??. cheers.
__________________
The market is always right.
Quote from waytrader:
of cos... they are gutsy and daring now because they have make the mistakes like ::-->whissy whashy, thinking too much, patience=hanging to losers, determination=not willing to accept lossing positions etc etc....
positive thinking and positive attitude are different too...does one know how to differenciate the two??. cheers.
Quote from bulleye:
Hi,
they are enjoying the fruits of their determination and patience. They failed before, corrected it, and emerged even stronger. Its highly impossible for experienced traders not to face any setbacks in the initial stage of their trading. Only determination and patience will pull them through.
Rgds
I know there is a branch of Swift Trade which is a Canadian Prop Trading firm (I used to work there) opening up soon or is already opened up. I would think that's a good place to find a lot of independent traders who might want to hook up with each other to discuss trading North American/European markets.
__________________
Why am I in this trade?
Quote from since1997:
I know there is a branch of Swift Trade which is a Canadian Prop Trading firm (I used to work there) opening up soon or is already opened up. I would think that's a good place to find a lot of independent traders who might want to hook up with each other to discuss trading North American/European markets.
bull, ops in sin! so how its the operation in sin?? make big bucks already...? any new intake u know??
__________________
The market is always right.
He has mixed smarts, nerve, disciplined study, years of practice, a knack for figuring odds on the fly, and fleet brain-to-thumb reflexes. Yet how many of us would credit his talent and skill if Jennings had done as well by trading stocks 38 days in a row? Conventional wisdom has concluded that day trading is a short-cut to financial ruin. The stock market's ruthless efficiency inevitably makes every trader a loser, or so we're often told. Day trading is about the last thing I would do, yet this orthodoxy makes no sense to me. Yes, trading is tough work. But why must it be a fool's game? Why, when so many Wall Street firms trade profitably year after year?
NOW, THERE'S FRESH EVIDENCE that day trading successfully is not beyond individuals willing and able to commit the time, sweat, and brainpower to build superior skills. Those who dabble will likely lose -- very badly. Do Individual Day Traders Make Money? Evidence from Taiwan, is a working paper issued in May by Yi-Tsung Lee and Yu-Jane Liu of National Chengchi University in Taipei, and Brad Barber and Terrance Odean of the University of California (at Davis and Berkeley, respectively). Noted veterans of behavioral finance, the UC economists have long tracked the moves of individual investors. Lee and Liu, having done research for the Taiwan Stock Exchange (TSE), struck a gold mine of data -- the full exchange trading record from 1995 to 1999, including each trader's identity. The four academics got together, since no similar trove has been available in the U.S. and day trading is popular in Taiwan. As a pioneering study, the results are merely suggestive. But if you think, as Liu does, that Taiwan's day traders act much like those elsewhere, the findings are intriguing. "Day trading is really hard. Most people lose their shirts," Barber says. "But there's a small population that makes a ton of money."
The researchers began by counting some 925,000 individual investors on the exchange in a typical month. They then identified the heaviest traders, a group that was just 1% of the total but accounted for more than half of all individuals' day-trading volume. They bought and sold stocks at a profit most days, but after transaction costs lost money. As for dabblers, the less they traded the more often they lost.
In a second cut of the data, the researchers checked to see if past winners kept winning. They ranked all traders by their success over the prior six months and then split them into six groups. The top-performing group went on to see average daily gains of $251, even after costs. At annual rates, that comes to more than five times the annual per capita income in Taiwan. The second-best group also netted gains, but just $48 a day, while the third group lost money, the fourth did worse yet, and so on.
The odds -- 82% of traders lose -- are so grim that Barber encourages no one to day trade. Yet it seems not everyone who does is a fool. Left for future researchers is what strategies -- trading just a stock two, say -- are winners. Meantime, we can form our own notions about what works. Here's one you might see on Jeopardy! Category: Wall Street Animals. Answer: Neither bull nor bear, they're quick as cats and work like dogs to become wise as owls. Question: Who are successful day traders?
__________________
The market is always right.
Anyone trade at swifttrade in singapore? What is
the level of training they give? I had no success
after trading for 1.5 years on my own, and looking
for serious help.
I am thinking of joining them, What are the requirements?
There are no license requirements that I know of. You have to take a training course which they provide and if you make a certain amount of net profits for them within a specific period of time you get paid.
I would check out their web site www.swifttrade.com and get their phone number or email from there.
There are many other prop trading companies in Canada and the US that may let international traders trade firm capital. Just do a google search for prop firms.
Good luck.
__________________
Why am I in this trade?
since1997
Thank you. But i am based in Asia, and would prefer
to stay in Asia only.
For your information, i am an average trader who is
at near breakeven point and not lossing much, and i
am looking for high level training, not beginer course.
I can trade my own capital, and not looking for trading
capital, eventhough it's another advantage, but looking
for soild trainging and willing to pay or share profit if i get profitable.
Unforunatly, i received a PM from an ET members
saying that Swift trade don't even train anyone on
their spain, netherland branchs, so what can we
expect from their Asian branches?
No, I meant contact some North American firms who operate internationally over the internet.
You may be able to find a firm who lets you trade from Singapore. This is not limit you to finding a company in your home country only.
__________________
Why am I in this trade?
nana-- heard u in Bangkok.... ??
__________________
The market is always right.
Right, i am in Bangkok, i have been to singapore two
times before, but wouldn't mind moving anywhere
in Asia, if i see trading opportunity is more favourable
so u private investor? earn money and travels around?? what a life a want to be...
like to share yr story again??
__________________
The market is always right.
Re: since1997
Quote from Nana Trader:
Thank you. But i am based in Asia, and would prefer
to stay in Asia only.
For your information, i am an average trader who is
at near breakeven point and not lossing much, and i
am looking for high level training, not beginer course.
I can trade my own capital, and not looking for trading
capital, eventhough it's another advantage, but looking
for soild trainging and willing to pay or share profit if i get profitable.
Unforunatly, i received a PM from an ET members
saying that Swift trade don't even train anyone on
their spain, netherland branchs, so what can we
expect from their Asian branches?
__________________
Why am I in this trade?
I know this is an old thread, but wanted to see what's going on in Singapore. Any of you guys still around trading full time? I'm interested to hear from established prop or hedge fund traders.
I'll be in Singapore from April 28 through May 1 and would love to meet SG based traders, hedge fund managers, marketers, etc.
I would also be grateful to receive tips for someone visiting SG for the first time.
Thank you.
not a big scene in singapore traders community...the best one are very discret. can't see them around. small bunch of people.
singapore - hot, weather is hot, market is hot, food is hot,..like it or hate it.
__________________
The market is always right.
Hi
You are welcome to contact me when you vist Singapore. My email is Buddha.Enlighten@gmail.com
__________________
What goes up, must come down.
Thanks for the responses. Looking forward to receiving more responses.....
Whats' your objective coming to Singapore?
__________________
What goes up, must come down.
Thanks to all that have responded.
Any comments on the genral quality of life in SG. What I hear is that it's a wonderful, very modern safe place but a little too "sanitized" with incredible heat & humidity.
What say you?
any prop firms still open in singapore?
bump.
I'm curious as well. Anyone with any knowledge of prop firms in Singapore?
Firms
Prop:
Saxon Financial
TransMarket
Customer:
Phillip Futures
Ong First
UOBF Schneider
These are all futures based, not stock.
Thanks UKX, I'll see if I can schedule some kind of visit when I go to singapore next month.
Hi ukxgerard,
Heard you set up a new prop group at UOBF Schneider. Best wishes to you. Quite decent of you to hire some of the down and out traders from the SGX floor. A little bit of advise, Trading is very individual, you must becareful of ones' record on trading.
Some of the prop group for shares are,
CIMB
Philip Securities
KIM Eng Securities
__________________
What goes up, must come down.
Quote from Buddha_E:
CIMB
Philip Securities
KIM Eng Securities
Mind
Down and out is a state of mind.
"Buddha / ukx - you guys prop traders or work at a prop firm?"
Polpolik, you can send me a PM if you like.
Re: Mind
Quote from ukxgerard:
Down and out is a state of mind.
__________________
What goes up, must come down.
Quote from polpolik:
I went to the sites of these companies and it seems like they're more of a brokerage than a prop firm? Maybe it's something that can be arranged when you call them?
So far, Saxon and Transmarket are the only prop firms on the list.
Buddha / ukx - you guys prop traders or work at a prop firm?
__________________
What goes up, must come down.
didn't know this thread existed since 2004.
I'm from Singapore, trading mostly U.S. stocks fulltime and using TradeStation.
Regards,
hi all,
didn't know there's this thread for those who trade in singapore too.
i'm a private trader trading Emini ES & ER via IB for abt 2 yrs already plus the time i'm doing it part-time.
i've learned & grow psychologically mature enuf to earn small amounts consistently.
but have a debt ( trading tuition fee during gunslinging days ) to clear. dam sianz....
however, i really enjoy the freedom & lifestyle of a trader. trading is a more efficient way to earn money, which is Great !!
i prefer not to work for others & have no flair for biz so i'm happy to find my place in the economy & will be doing this for life.
Yahoo !!
Quote from ji yuu jin:
hi all,
didn't know there's this thread for those who trade in singapore too.
i prefer not to work for others & have no flair for biz so i'm happy to find my place in the economy & will be doing this for life.
Yahoo !!
__________________
What goes up, must come down.
so, is true that you can get arrested for chewing gum in public?
looks like there is good chance for some excellent shorting of ES or ER this week !
blood is on the street. take some cash while it lasts. hee..hee...
still need to be careful tho cos a technical correction is overdue liao.
let's see how the drama unfold itself lo.
its quite entertaining ! hahaha....
Quote from lassic:
so, is true that you can get arrested for chewing gum in public?
hi there. does anybody use interactive brokers here in sg? do they have a satellite office here? would like to inquire with them about trading.
__________________
Aun Aprendo
hey any local trader forum?
for SGs
there is a forum under www,sgfunds.com .... exclusive to Singapore traders. They have categories for fixed income and equities and technical analysis.
Regards,
Hi all
Just wondering if anyone has some updated comments about prop trading or remote trading in Singapore. What are some of the options available? Anyone actively doing daytrading NYSE or NASDAQ from Singapore?
__________________
qoowapee.com
I want to know about propshops in Singapore too. Been trading on my own using TradeStation .... and missing the interactions with other traders. Any local online chatrooms dedicated to trading US stocks at night? Right now i'm using a US-based paid subscription chatroom, quite expensive which i want to discontinue as soon as we find a local Singapore one.
Regards,
greetings im in the it industry what is the best way to break into the finance industry here in singapore ill be a pr soon and would like to apply for finance jobs.
any prop firms that hire traders with 7 years of non professional experience?
__________________
Aun Aprendo
Trading US markets from Singapore
I trade mostly equity options and SPY,IWM ZB,ZN options (since 1998). I kind of travel between my offices(Export/Import) in Hong Kong,Singapore,India.
After summer holidays I will spend more time in my Singapore office.I trade almost daily scalping options.
I will be interested in interacting with other traders in Singapore who trade in the US time zone. No interest in HKG/Sing stoks nor Euro land products.
I trade strictly on chart basis using Med Ved QT in 2-3 pcs (3-5 monitors)
Right now Iam cooling off in the mountains in India due to kid's summer hoildays.(ofcourse trading out of my notebook) India timings slightly better.(7pm-1.30AM Summer and 8Pm-2.30AM winter)
Iam even open to explore the idea of setting up a small shared office in Singapore for 3-5 traders(with 2 pc/4 monitor each) to trade during US time zone.
9.30pm-4AM summer and 10.30pm-5AM winter.
pm me if you wish.
I will post my email by june 1st when I will be in Sing.
Hi Im from singapore too..... currently with one of the futures house.....
Are there many futures firms in Sing? When I was living there about 10 yrs ago, no one in Sing had a clue about futures trading, but I believe it has exploded since then. True? I'm talking about firms, not individuals.
If anyone is looking to remote trade the US markets internationally please send us an email at ntt@shaw.ca.
Quote from Jayford:
Are there many futures firms in Sing? When I was living there about 10 yrs ago, no one in Sing had a clue about futures trading, but I believe it has exploded since then. True? I'm talking about firms, not individuals.
Quote from NasTraders:
If anyone is looking to remote trade the US markets internationally please send us an email at ntt@shaw.ca.
legal concerns
hi guys,
I have a "foreign individual" account with TradeStation.com. I'm opening a new account with another U.S.-based brokerage .... so in a way i'm concerned with putting too much funds overseas.
any Singaporeans here understand the legal protection (or recourse) available to overseas foreigners opening account with U.S. brokerage?
Thanks,
bstay
Singapore
Re: Mind
Quote from ukxgerard:
Down and out is a state of mind.
__________________
What goes up, must come down.
Hello all,
I am an equity trader from the US and have been in Singapore for one week, but have had a very difficult time finding an internet connection that is fast and reliable enough to support my scalping. I am here for a different job function but have already presented the idea that I will need to leave if I cannot continue to trade here due to poor connection problems.
Can anyone tell me where I can go to trade at night? Any cafe or shop that's open late so I can continue to trade on a good internet connection? I have tried some internet cafes, but the connections gets really bogged down when a lot of users come in.
I am near Novena but very willing to travel. Ideally it would be great to join an office here with other traders...I would be more than happy to pay as well. Or, if anyone has any sort of internet solutions (i.e. wireless air card, etc.) that could give me the fast connection I need, I would really appreciate it.
Thanks.
Quote from EEUT84:
Hello all,
I am an equity trader from the US and have been in Singapore for one week, but have had a very difficult time finding an internet connection that is fast and reliable enough to support my scalping. I am here for a different job function but have already presented the idea that I will need to leave if I cannot continue to trade here due to poor connection problems.
Can anyone tell me where I can go to trade at night? Any cafe or shop that's open late so I can continue to trade on a good internet connection? I have tried some internet cafes, but the connections gets really bogged down when a lot of users come in.
I am near Novena but very willing to travel. Ideally it would be great to join an office here with other traders...I would be more than happy to pay as well. Or, if anyone has any sort of internet solutions (i.e. wireless air card, etc.) that could give me the fast connection I need, I would really appreciate it.
Thanks.
Quote from hanzahar:
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· Join a world’s leading day trading company to trade the firm’s capital for profit in the most liquid market, NYSE, NASDAQ, etc.
· Competitive payouts after commissions & fees for Proprietary traders.
· Get low commissions ~ we can compete with any other firm on the street.
· Discounted deals for our traders with various data vendors to keep your costs down.
· State-of-the-art technology, multi-trading platforms with the high speed connections.
· Access to real time news feed.
· Bring your own group, and get paid!!
proptrading68@gmail.com.
Hey
I am an independent trader based in London & will be in Singapore next week to test waters.
If anyone if free to meet for a coffee to discuss markets/ commodities & network please drop me a line.
Best wishes,
Maszerati.
How's the internet connection there???
is it sutiable for scalping nazzy stocks?
internet speed in London
its as quick as it can get
NEVER traded NASDAQ
Singapore: Calling full-time individual prop. traders for a project
Hello Singapore based traders,
My name is Gianluca and I have just moved to Singapore a week ago with a project to carry out.
In a few weeks time I am going to open my own Prop. Trading company and I am looking for serious full-time individual proprietary traders to just share the expenses of renting an office in the city. Each of us will bring his own workstation, his systems and will use his preferred IB. i.e. we will be independent from each other.
Am looking for individual traders who have the professional attitude, real passion and who can commit for at least 3 months rental share. Estimated budget is max S$1000/month p.p., if we put together a large number of traders we can rent a bigger unit hence the per head cost would be lower.
Serviced office would be ok as they do not require long term contract commitment but one month’s notice. Checked out on Suntec when I was here a few months ago, they asked about S$3000/month for a small unit, can fit 2/3 workstations, large window w/ bay view. Also believe we can have some negotiation power.
My aim is to create a very professional although small trading floor where traders have the constant feeling of being in the market, exchange market views, quantitative info, research etc.
I don’t believe in trading on your own from your living room..
Something about me: I am Italian, am 30 yrs old and I have recently moved from London where I worked for a big European Inv. Banking in their Equity Derivatives sales trading desk for 5 yrs.
I will be trading single stocks as well as indices futures on Asian (no knowledge) and European (good knowledge) underlyings.
More info when we meet.
Looking fwd to hearing from you.
Best,
Gianluca
P.S. is there any foreigner who is trading as individual prop trader here in Singapore?
how do you guys get around the employment pass requirement to be able to rent somethign in Singapore? outside of just renting a room or staying at a hotel or knowing a fearless local
:-), what other options are there?
Quote from Copernicus:
how do you guys get around the employment pass requirement to be able to rent somethign in Singapore? outside of just renting a room or staying at a hotel or knowing a fearless local
:-), what other options are there?
Re: Singapore: Calling full-time individual prop. traders for a project
Hi!
I am trading in Singapore. It's good to meet you. If your are free, we may meet up and have a cup of coffee.
yours,
Buddha_E
Quote from nointerest1:
Hello Singapore based traders,
My name is Gianluca and I have just moved to Singapore a week ago with a project to carry out.
In a few weeks time I am going to open my own Prop. Trading company and I am looking for serious full-time individual proprietary traders to just share the expenses of renting an office in the city. Each of us will bring his own workstation, his systems and will use his preferred IB. i.e. we will be independent from each other.
Am looking for individual traders who have the professional attitude, real passion and who can commit for at least 3 months rental share. Estimated budget is max S$1000/month p.p., if we put together a large number of traders we can rent a bigger unit hence the per head cost would be lower.
Serviced office would be ok as they do not require long term contract commitment but one month’s notice. Checked out on Suntec when I was here a few months ago, they asked about S$3000/month for a small unit, can fit 2/3 workstations, large window w/ bay view. Also believe we can have some negotiation power.
My aim is to create a very professional although small trading floor where traders have the constant feeling of being in the market, exchange market views, quantitative info, research etc.
I don’t believe in trading on your own from your living room..
Something about me: I am Italian, am 30 yrs old and I have recently moved from London where I worked for a big European Inv. Banking in their Equity Derivatives sales trading desk for 5 yrs.
I will be trading single stocks as well as indices futures on Asian (no knowledge) and European (good knowledge) underlyings.
More info when we meet.
Looking fwd to hearing from you.
Best,
Gianluca
P.S. is there any foreigner who is trading as individual prop trader here in Singapore?
__________________
What goes up, must come down.
Re: Singapore: Calling full-time individual prop. traders for a project
Quote from nointerest1: In a few weeks time I am going to open my own Prop. Trading company and I am looking for serious full-time individual proprietary traders to just share the expenses of renting an office in the city. Each of us will bring his own workstation, his systems and will use his preferred IB. i.e. we will be independent from each other.
P.S. is there any foreigner who is trading as individual prop trader here in Singapore?
Re: Re: Singapore: Calling full-time individual prop. traders for a project
Quote from bstay:
i'm trading US stocks from Singapore. why do you call it "Prop Trading Company"? will you be providing capital to us like other proprietary trading firms and share the profit payouts? what about the internet connection?
Does anyone know if we have "prop firms" in Singapore? I once visited a Phillip Securities trading room but it was more an arcade where traders pay nominal rent to trade using their platform at very low commissions (on own capital). I'm looking to trade with other Singaporeans too if there is more such offices.
Regards,
Re: Re: Re: Singapore: Calling full-time individual prop. traders for a project
is it advertised on their website? private message me if u know how i can make enquiries. besides SGX, i want to see if i can also trade NYSE/Nasdaq as well as forex.
$25K up for 2:1 sounds like SGX only. Thanks for the tip.
Quote from Copernicus:
how do you guys get around the employment pass requirement to be able to rent somethign in Singapore? outside of just renting a room or staying at a hotel or knowing a fearless local
:-), what other options are there?
Quote from Sell 'em:
One avenue is to register as a local on Simex. Simex will then sponsor your residency permit, subject to certain minimums for trading volume. Alternately, you can incorporate your Local seat and then write a short business plan and apply for Entrepass based on you business.
Been there, done that.
Quote from Copernicus:
are there still locals on Simex?
i thought that the exchange has been all electronic for quite some time now. you must have some stories to tell, ever traded with Leeson?
Re: Re: Singapore: Calling full-time individual prop. traders for a project
Quote from bstay:
i'm trading US stocks from Singapore. why do you call it "Prop Trading Company"? will you be providing capital to us like other proprietary trading firms and share the profit payouts? what about the internet connection?
Does anyone know if we have "prop firms" in Singapore? I once visited a Phillip Securities trading room but it was more an arcade where traders pay nominal rent to trade using their platform at very low commissions (on own capital). I'm looking to trade with other Singaporeans too if there is more such offices.
Regards,
Understood. You are asking for independent traders to share the costs of the office rental, but in order for people to respond to you there must be "benefit" for us ...... I see no compelling reason yet for me to incur the additional expenses of sharing your costs.
Re: Re: Re: Singapore: Calling full-time individual prop. traders for a project
I have worked for 5 yrs in a trading floor with over 400 people on it, and I want to kind of replicate that professional environment.
I have friends in major investment banking and brokers worldwide so have access to researches, seminars etc.
Hi
I trade only us stocks/options and US indices/commodities.
Your idea of creating Office /T floor environment is ok, But one can not have office that can only accomodate 2 desks!
we need minimum 5 guys {most guys need a big desk to keep 2 pc/4 monitor set up}so that ar least 3to 4 guys are there at any given time.
But the problem is my trading hours are 9.30pm-4am {10.30pm-5am winter)
what products you trade?
At this ungodly hours ,I rather sit in my shorts at home.
Hey !
Hi Guys ! Good to see there is a Singapore thread here !
I trade for more than 10 years now, as an amateur and decided to become an independent professional trader in January this year.
I trade only CFDs' on the DJ and Paris (I'm a former French citizen...).
I love what I am doing now but it would be also good to share with other S'pore traders our experiences / ideas... Before a good meal, for instance ?
Cheers!
Aristide
anyone using TradeStation for stocks and forex? would love to meet up fellow Singapore daytraders .....
http://4.bp.blogspot.com/_0P0u3evwC...1600-h/CLF1.png
Hi all, i m trading CL now... was thinking to use IB, i see quite a few using that to trade, any idea if its good. i see the commission is low!
Btw i m from singapore too.=)
Hello,
I'm from France.
Do you think it's possible to easily start an home day trading business in Singapore and get easily a visa to stay there ?
It looks like an ideal city to trade from, good weather, low tax, business oriented, large financial center, good nightlife, English speaking, tolerant, ...
Thanks a lot!
why prop firm
trdg from SG us stoks wi IB + FX
y wud anyone use a prop firm vs IB
IB is a top broker low comm - unless i really need the company of other traders
i'm happy to mingle in my free time - but prefer to trade alone
so what do the prop shop guys get that they can't get by using an IB a/c & trdg from home ? - NB. i cut out the commute
__________________
never made a dime but boy can i chime!
Quote from Monster123:
Hi all, i m trading CL now... was thinking to use IB, i see quite a few using that to trade, any idea if its good. i see the commission is low!
Btw i m from singapore too.=)
__________________
____________________
Tom
My futures autotrading journal
where to get multi-monitor stands in Singapore
hi friends in Singapore,
does anyone know where i can buy a 4-monitor or 6-monitor stand in Singapore? i don't want to buy from US or elsewhere as it will incur shipping charges obviously. anyone know?
Regards,
What kind of hours do you keep in order to trade the US markets? When do you do most of your trading?
Quote from olias:
What kind of hours do you keep in order to trade the US markets? When do you do most of your trading?
BS
for 4-6 mon stands try the back lanes 1-2 floors of sim-lim sq
__________________
never made a dime but boy can i chime!
Re: me from india
Quote from sumon:
i am from india.email:gauravghosh@hotmail.com.can any experienced nyse trader help me?new to day trading.
Anyone trading in the local props Saxon, Nyenburg, etc.? Have been trading successfully for the past few years part-time.
Is it worth talking to them for a full-time or remote prop kind of arrangement?
Re: where to get multi-monitor stands in Singapore
Quote from bstay:
hi friends in Singapore,
does anyone know where i can buy a 4-monitor or 6-monitor stand in Singapore? i don't want to buy from US or elsewhere as it will incur shipping charges obviously. anyone know?
Regards,
Re: Re: where to get multi-monitor stands in Singapore
Quote from Copernicus:
funan computer mall in City Hall maybe
read all the posts. any trading/finance opportunities?
TS user
Hello bstay,
I've been using TS for a long time.
Please PM me. can meet up for a coffee or something. I also know where to get the 4-6 monitor stand cheap.
h2005
its so that you can also lower your cost, in case you look for an office setup. If you wanna trade in pajama at home then you can do that, too.
Which part is so hard to comprehend?
Quote from bstay:
Understood. You are asking for independent traders to share the costs of the office rental, but in order for people to respond to you there must be "benefit" for us ...... I see no compelling reason yet for me to incur the additional expenses of sharing your costs.
how to scalp from SINGAPORE? even with the best connection, your latency to NYC must be like.....hmmm 250-300ms?
Quote from MohdSalleh:
how to scalp from SINGAPORE? even with the best connection, your latency to NYC must be like.....hmmm 250-300ms?
Quote from bstay:
you can do a broadband speed test (http://www.speedtest.net/) from your location in Singapore to let say Texas or Illinois (where my brokerage's servers reside) and distance is over 9400 miles. the ping can be as high as 349ms. but these numbers don't indicate any problems. maybe depends on who and what instruments you trade with, i've used RealTick III briefly in 1998 and then TradeStation since 2006. i'm sure others have traded with other platforms from Singapore.
so you're not from Singapore then ....... :-)
you guys know if theres any prop shops?
basically im an undergrad but ive been trading my account. so im hoping to break into this. feel free to post if u guys know of any i could try
Quote from ark:
you guys know if theres any prop shops?
basically im an undergrad but ive been trading my account. so im hoping to break into this. feel free to post if u guys know of any i could try
Quote from ark:
i trade with saxo. how does this prop thing work?
im a retail client at saxo, not prop trader. yes its located at CBD - church street.
im trying my luck hoping to get a stint as prop trader. if i dont make it i'll remove myself any prop firm in sg i could try? feel free to post or pm me haha
anyways bstay, hows it going with that potential prop job?
singapore traders
Hello fellow Singapore Traders.
I currently am learning to trade emini futures with tradethemarkets.com
I met John Carter at the recent ATIC 2010 (April) and I thought he was a sincere guy.
Just attended the live online trading webinar last week (15-18 June 2010).
Ed
yo! i was at atic too at johns seminar haha
Was it any help? His online DVD 4 day workshop cost US$2000.
Quote from burningman:
Was it any help? His online DVD 4 day workshop cost US$2000.
Anyone using IG Markets, Saxo, CityIndex or CMC ?
Anyone trading spot FX and/or other instruments with IG Markets, Saxobank, CityIndex or CMC ? Would like to know how good/bad their execution and service are.
been with saxo and execution is good, real-time.
Re: Anyone using IG Markets, Saxo, CityIndex or CMC ?
Quote from ngkh:
Anyone trading spot FX and/or other instruments with IG Markets, Saxobank, CityIndex or CMC ? Would like to know how good/bad their execution and service are.
Join a community of traders – investors
Dear Fellow Traders – Investors,
We would like to you all to join Traders Round Table, we are a small community of traders – investors that seek to help our fellow traders – investors to be more successfully in the markets.
Many of talks & events are currently FREE.
So take these opportunities to learn from your peers.
Sign-up at www.meetup.com/Trading-Investing so that you can be update of all latest events & talks.
In addition, if you wish to share your experiences and teach - help your fellow traders- investors, we would love to hear from you.
Safe Trade
TSaw
www.meetup.com/Trading-Investing/
noob question...
Dear All,
I am not a trader, have 0 experience and trading backgroun with no fianacial/economics background, not even a graduate...
I had bumped into an advert by a local prop trading firm wich is hiring recently and that had sparked my interest in trading(totally clueless how it works...)
Had been reading up and I found this forum today. The firm which had posted the offer did not state any requirements and they offered a 6mths part time course for the chosen candidate(s) who then had the chance to trade the firm's account...
Of course I doubt they will allow someone like me to "play" with THEIR money!
I would appreciate if senoirs here could help me with some queries...
1) would there be a fee for the course for those who are qualified?(any common practice of charges?)
2) do we need to open an acct. ie. with certain min $um with the firm?
3) what type of people are they looking for? (will they ever hire non-degree holders with 0 experience...)
4) How do i start trading on an individual basis if i had really decide to go for it and how much capital do i need...?
Many thanks for you time taken to read this and deeply appreciate for your kind efforts on any replies...
Regards
Re: noob question...
Quote from Jun:
Dear All,
I am not a trader, have 0 experience and trading backgroun with no fianacial/economics background, not even a graduate...
I had bumped into an advert by a local prop trading firm wich is hiring recently and that had sparked my interest in trading(totally clueless how it works...)
Had been reading up and I found this forum today. The firm which had posted the offer did not state any requirements and they offered a 6mths part time course for the chosen candidate(s) who then had the chance to trade the firm's account...
Of course I doubt they will allow someone like me to "play" with THEIR money!
I would appreciate if senoirs here could help me with some queries...
1) would there be a fee for the course for those who are qualified?(any common practice of charges?)
2) do we need to open an acct. ie. with certain min $um with the firm?
3) what type of people are they looking for? (will they ever hire non-degree holders with 0 experience...)
4) How do i start trading on an individual basis if i had really decide to go for it and how much capital do i need...?
Many thanks for you time taken to read this and deeply appreciate for your kind efforts on any replies...
Regards
Re: Re: noob question...
Quote from bstay:
All these questions should be answered in that firm's ad, or a simple phone call to their sales guy. Are you leading up with your second post to give us more details? Your questions have all been dealt with at these threads, http://www.elitetrader.com/vb/forum...p?s=&forumid=15 and the same answers are provided there under various sub-threads .... ad nausem. Please, just give them a phone call instead of opening blind discussions without actual facts. MAS has different rules regarding margin requirements (for various instruments) and we don't have PDT requirement for minimum $25K equity deposit for stocks daytrading like in the USA. Singapore has 0% capital gains tax so any reference or answers comparing to US Prop firms are not relevant. I might suggest you post your question at http://www.sgfunds.com/index/ which are wholly Singapore topics.
Local at SGX-DT
Anyone here local at SGX-DT? Please be so kind to send me PM. Would like to discuss current options for trading in Singapore. Thanks in advance.
Re: noob question...
Quote from Jun:
Dear All,
I am not a trader, have 0 experience and trading backgroun with no fianacial/economics background, not even a graduate...
I had bumped into an advert by a local prop trading firm wich is hiring recently and that had sparked my interest in trading(totally clueless how it works...)
Had been reading up and I found this forum today. The firm which had posted the offer did not state any requirements and they offered a 6mths part time course for the chosen candidate(s) who then had the chance to trade the firm's account...
Of course I doubt they will allow someone like me to "play" with THEIR money!
I would appreciate if senoirs here could help me with some queries...
1) would there be a fee for the course for those who are qualified?(any common practice of charges?)
2) do we need to open an acct. ie. with certain min $um with the firm?
3) what type of people are they looking for? (will they ever hire non-degree holders with 0 experience...)
4) How do i start trading on an individual basis if i had really decide to go for it and how much capital do i need...?
Many thanks for you time taken to read this and deeply appreciate for your kind efforts on any replies...
Regards
http://www.meetup.com/Singapore-FOR...vents/16417180/
anyone who's a student, please pm me. thanks.
Hi Jun,
May I know which firm's advert you saw? Is it 6 Capital?
Btw, I keep a trading journal on forex trading. Feel free to read up when you're free ;)
http://myforextradingroom.blogspot.com/
Quote from hwlm:
Hi Jun,
May I know which firm's advert you saw? Is it 6 Capital?
Btw, I keep a trading journal on forex trading. Feel free to read up when you're free ;)
http://myforextradingroom.blogspot.com/
Nope, i didn't take forex course from any of the ones you mentioned. Kishore is crap.
I did take one in Singapore though, but I gave up on it long ago. I learnt this trading method a few months ago, and improvized on it to make it my own. I take 1-2 trades per day, usually on H1 timeframe.
How about yourself?
Quote from hwlm:
Nope, i didn't take forex course from any of the ones you mentioned. Kishore is crap.
I did take one in Singapore though, but I gave up on it long ago. I learnt this trading method a few months ago, and improvized on it to make it my own. I take 1-2 trades per day, usually on H1 timeframe.
How about yourself?
Quote from hwlm:
Btw, I keep a trading journal on forex trading. Feel free to read up when you're free ;)
http://myforextradingroom.blogspot.com/
Entry: 131.704
Exit: 131.488
Result: 21pips!
This is from your latest blog post. How much stop loss did you give for GBP/JPY to score this 21pips?
Quote from frank01st:
Finally took profit for EUR/USD today. 50pips TP.
Entry Date: 31st May 2011
Entry point: 1.44106
Exit point: 1.44601
I'm curious, if you entered the trade on May 31st at 1.44106, didn't you have to sit through almost -104pips of drawdown on that peak low on Jun 1st 5:15pm New York time? Nice job with the +50pips take profit. Do you have a stop loss when you entered the trade?
Hello everyone!
How much for the appartment there,to rent?
Quote from SnakeEYE:
Hello everyone!
How much for the appartment there,to rent?
Quote from frank01st:
It's a small country, but it's also not so small to give you a "typical" rental price. If you are wealthy, there is the St. Regis Residences Singapore http://exclusives.stregis.com/St-Re...533&iATANumber=
Quote from SnakeEYE:
I didn`t mean a spa or manson.If i want to live there for a while and rent some two bed condo.I used to live in Costa Rica and rented two bedroom condo for $450 a month.But then,a friend of mine - local,recommended me to the owners.Otherwise i would pay at least $700-$800 per month.That how it goes there.
It's about ten times what you paid in Costa Rica.
Quote from RonRayGun:
It's about ten times what you paid in Costa Rica.
or some like that, for 1000 colones,though.
Quote from SnakeEYE:
It depends on what you rent.Certainly there were some rat nests for $150 in Santa Ana or Tres Rios or wherever.But 10 times, c`mon.
You can rent room at the ''hotel'' in San Jose,can`t remember the name..''Washington''
Quote from frank01st:
http://www.singaporeexpats.com/guid...o-singapore.htm
the site also has useful guides beside rental pricing, offering an expatriate's view of relocation.
I think it depends if you have a family, your life style, and how far you are willing to live from your office/work place.
I live near Raffles place very close to my office with a family and have to caugh up SGD5.8k for a 1200ft in a nice condo.
My best friend living with a family 30minutes away by subway from his workplace lives near the airport and spends SGD2.5k for the same size as my appartment.
My junior lives in an HDB (government housing) which from a comfort point of view is not tip-top but still okay for a young single chap, spends SGD1.5k per month.
Quote from jrkob:
I think it depends if you have a family, your life style, and how far you are willing to live from your office/work place.
I live near Raffles place very close to my office with a family and have to caugh up SGD5.8k for a 1200ft in a nice condo.
My best friend living with a family 30minutes away by subway from his workplace lives near the airport and spends SGD2.5k for the same size as my appartment.
My junior lives in an HDB (government housing) which from a comfort point of view is not tip-top but still okay for a young single chap, spends SGD1.5k per month.
Quote from frank01st:
If it is for a very short stay, I highly recommend St. Regis Singapore.
Quote from MohdSalleh:
how to scalp from SINGAPORE? even with the best connection, your latency to NYC must be like.....hmmm 250-300ms?
Quote from Hombre:
LOL,why would you even consider /want to scalp NYC from Asia ? If masochism is your thingy, i would suggest some island in Philippines as your trading location.
Quote from bstay:
I've seen his past posts over the years, he's been insisting (on several occasions) that the ping and latency is too slow in Singapore to scalp NASDAQ, which I find most ignorant as we have been trading with no issues over the years. If he is not here in Singapore, how can he make that conclusion.
Quote from nobodyimportant:
Because in theory it does make sense - 200 ms to get the data and then 200 ms to send the trade and that's being optimistic. How can you beat GS who has servers collocated in the same building as the exchange at HFT?
Quote from bstay:
I've seen his past posts over the years, he's been insisting (on several occasions) that the ping and latency is too slow in Singapore to scalp NASDAQ, which I find most ignorant as we have been trading with no issues over the years. If he is not here in Singapore, how can he make that conclusion.
When you withdraw money from your US broker, what is the cheapest way to convert the USD cheque into Singapore dollars? Local banks charge a fee to clear the "foreign" cheque. What do you do in your case if you have SGD bank accounts with DBS/POSB?
Quote from bstay:
When you withdraw money from your US broker, what is the cheapest way to convert the USD cheque into Singapore dollars? Local banks charge a fee to clear the "foreign" cheque. What do you do in your case if you have SGD bank accounts with DBS/POSB?
Quote from keviniyengar:
Dont you ask for a International Wire (TT remittance) from your US broker when you want to with draw or close a/c?
Even in TT ,Singapore banks include commssion in the TT exchange rate. (expensive compared to reciving US$ funds in HSBC ,Hong kong)
In HK (apart from the US clearing bank commision US$10-20 ,only Hk$ 50 charge)
if you deposit US$ cheque in US$ current/savings a/c, singapore banks will hit you with commission. No way to escape it.
But I made money once in 2007 by mistake.
My us $ a/c in UOB singapore had nil balance and was closed. So when the TT six figure TT from US broker arrived (trading break) ,it converted to S$ and deposited in to my s$ a/c.
S$ appreciated 500 mpips in one week .I made like close to 7K!
Good question-forget about changing banks etc-the banking cartel is the same all over Singapore in screwing customers.
Stop asking for cashier cheques when you withdraw money from us broker.
which broker you are using? OXPS has a singapore office.
The anxiety till receiving the piece of paper by courier/post and the waiting time (7 days easy) till it is cleared.
If you still want to go by the paper route instead of TT, ask for a US$ Demand draft payable in singapore clearing. (yes both sing and HK have local US$ clearing) .
In this case the broker will issue demand draft from their bank(say Wells fago) payable at singapore thro thier correspondent bank (their own branch or any one of the local big 4)
To make things simple- open a us$ pass book saving/current in DBS/POBS.
you may need to maintain uS$1000 minimum though.
check DBS site(call C.S) what is the TT incoming charge for depositing TT in to US$ a/c. (US$ to US$- no conversion yet)
but when you do convert-they will hit you.(TT exchange rate quoted includes 0.2 commision)
That is another speculation. you can start watching USD/SGD when to convert!!
My base currency is not singapore $.
So I banked profit 500 pips and went back to us$. (that was 1.55 exchange rate -Now S$ has appreciated to 1.23/1.27 like that)
had I just left my money in S$ a/c (zero interst rate!) ,I would have made 20%.
Quote from keviniyengar:
Good question-forget about changing banks etc-the banking cartel is the same all over Singapore in screwing customers.
Stop asking for cashier cheques when you withdraw money from us broker.
which broker you are using? OXPS has a singapore office.
The anxiety till receiving the piece of paper by courier/post and the waiting time (7 days easy) till it is cleared.
If you still want to go by the paper route instead of TT, ask for a US$ Demand draft payable in singapore clearing. (yes both sing and HK have local US$ clearing) .
In this case the broker will issue demand draft from their bank(say Wells fago) payable at singapore thro thier correspondent bank (their own branch or any one of the local big 4)
To make things simple- open a us$ pass book saving/current in DBS/POBS.
you may need to maintain uS$1000 minimum though.
check DBS site(call C.S) what is the TT incoming charge for depositing TT in to US$ a/c. (US$ to US$- no conversion yet)
but when you do convert-they will hit you.(TT exchange rate quoted includes 0.2 commision)
That is another speculation. you can start watching USD/SGD when to convert!!
My base currency is not singapore $.
So I banked profit 500 pips and went back to us$. (that was 1.55 exchange rate -Now S$ has appreciated to 1.23/1.27 like that)
had I just left my money in S$ a/c (zero interst rate!) ,I would have made 20%.
Quote from bstay:
Thanks for your replies. I am checking the fees and charges for opening Foreign Currency accounts at DBS/POSB, StandChart, and CitiBank, so that I can receive the broker funds in USD through wire transfer. My broker is TradeStation.com
I have checked around, seems DBS has the best exchange rate, let me know if you found one better exchange rate from US$ to S$...
I also wanted to open a US$ account in coming weeks, most likely DBS...
Quote from bstay:
Thanks for your replies. I am checking the fees and charges for opening Foreign Currency accounts at DBS/POSB, StandChart, and CitiBank, so that I can receive the broker funds in USD through wire transfer. My broker is TradeStation.com
Night trading SG
Just started out. Could trade from home but prefer a office/arcade environment. Checked around saw two I like. UOB Schneider & Phillip. Former more expensive .. in any case. Anyone here doing night trading from the two arcades? Dont want to be in the only trading til 4 am in the arcade all alone ..
yes man, I am one of those (in UOB) who trades until late. Do not worry there are a few ppl.
Happy to meet up for a drink if you want to.
Ciao
Edit: Actually I think I have something that could be interesting for you. Give me a buzz.
Thmx nointerest1, have dropped you a PM. happy to meet up if you could ..
New trader
Hi,
I have just started day trading in SG using the following markets:
S&P and DOW minis
Crude
Gold
Currencies
Looking to meet up with other SG based traders who are working nights. Exchange ideas, support etc
Let me know if you interested
Cheers
Re: New trader
Quote from junkscience:
Hi,
I have just started day trading in SG using the following markets:
S&P and DOW minis
Crude
Gold
Currencies
Looking to meet up with other SG based traders who are working nights. Exchange ideas, support etc
Let me know if you interested
Cheers
Hi to all night owls
Hi all!
This is my first time back on ET for ages! Good to see this thread and know that there are other people like me staying up late into night trading a market on the opposite side of the world.
I know I would love to have some company on the slow days/lunch hours and I actually get that currently on Twitter but it would be good to know some folks actually nearby and we can talk some local content like the Sticker Lady or the SCDF corruption case.
Drop me a PM if you are interested to get in touch over skype or twitter =)
Gg for my lunch now... bye!
DT
anyone has some internship opportunity? understudying?
Interested in a career within the trading industry
Trades live on really small amount for about 2-3years now
Saxo,FXCM,KimEng,
Self-taught Funda/tech analysis
CHeers
Re: Re: Re: Singapore: Calling full-time individual prop. traders for a project
Quote from Copernicus:
UOB Schneider is in the UOB bldg in Raffles, they want 25k SGD up and give u 2:1 leverage to start. I dont remember how much they charge for the seat but it was pretty high. SGX listed products only i think.
__________________
based in Tokyo - Hong Kong
I think IB still the best option if you are retail trader. Even with a big account. Unless anybody else got any other ideas.
Re: Re: Re: Re: Singapore: Calling full-time individual prop. traders for a project
Quote from peregrinecap:
whats better than IB then?
IB is alright for retail traders, if you are not HFT then everything else seems the same to me.
if you are trading from the DOM, IB uses a 2 click method (1 click method trademarked by TT until 2016) fyi.
actually, were/are those in prop houses/trading teams already profitable before they joined?
i frankly felt like a lost penguin now, trying to achieve consistency, my range was -4 to 4 ticks of ES daily but consistently once a week i get losses like -10 (oh god why!!) i am not looking for handholding but i'm just stuck, any advice?
Re: Re: Re: Re: Re: Singapore: Calling full-time individual prop. traders for a project
Quote from nointerest1:
If you are trading in slippers from your living room there is no difference.
But if you are trading for living, having a professional set-up sometimes makes the difference between a profit and a loss. (speed of execution, dedicated lines, IT support etc..)
Anyone trading in arcades or some rented space somewhere?
I'm trading from home and I'm looking for a place to trade.
Yan
I am trading CME futures in UOB Schneider at UOB Plaza. Costs all in ~ 3k/month, ex coms. Other than this, I have looked at Phillip, they are at that Phillip Building Level 10, somewhere near George Street. Then there is OngFirst in Tokio Marine building ..
Phillip n OngFirst the costs are lower ..
I heard there is also one at Internationa Plaza though I have not visited ...
I trade mainly nights here u have quite a few fellows trading nights ...
KH
Hi Wong
How can one like myself find out more information regarding UOB Schneider at UOB Plaza (their cost, trading our own money or their, what do they offer?)
Thanks.
Hi Peh, i have send u a PM.
Hi KH, I too am looking for info like Peh Wei Siang: How can one like myself find out more information regarding UOB Schneider at UOB Plaza (their cost, trading our own money or their, what do they offer?)
I am trading US equities and options.
__________________
DL
Hi there ...
UOBF Schneider is an arcade ... so ... the best way to explain this .. it is like a "broker" that clears your trade (it is actually cleared by UOB futures & bullion) .. and provides a workdesk/environment for futures trading ... with 24-hour trading support etc etc
here ... mainly futures traders ... and bulk i believe trading nikkei futures ..
there are some prop teams .. i am not with any of them so i can't really comment on the "structure". but there's quite a few who trades their own monies, I am one of them.
so I am not sure whether this suits yr needs ...
if u need more info feel free to drop me a private message ...
KH
Thanks KH
Thanks KH, much appreciated.
__________________
DL
Scalpers anyone?
Hi Fellow Sg traders,
I have been trading CFDs for some time and now thinking of going into scalping futures. Have been reading up material on scalping especially using Ninja Trader and TT Xtrader.
Does anyone trade from home using Xtrader through VelocityFutures? For a round trip, its abt $4.50usd on the ES.
Also, the costs seem pretty high at $3k/mth ex comms at the arcades. How many contracts do u need to do to break even?
__________________
RL
Hi,
I just moved to Singapore this year. I am trying to start developing trading systems in Singapore (TradeStation etc) - any students or recently graduated student interested to join a startup ?
interested
Hi trillenium
I am real interested. I am not a fresh grad but more than happy to be part of what you are talking about. Please kindly message me with the info
__________________
In the pursue of monetary happiness.
MerlionTrader - I sent you PM
Maybe my message on the board was not detailed enough , or even misleading, so i try to explain again what my plan is.
I just opened a company here and i will try to hire people with math, statistic and programming knowledge who want to work as systems developer. In essence i try to find systems for stocks, futures and options that diversify my trend following systems that i already have. The first thing that i will try to do with the new employees is to program some trading strategies that i will present to them . So its kind of an analyst work that resembles doing a thesis or dissertation. That's why i was looking for fresh graduates because they are "used to" writing essays or dissertations on certain subjetcs
Just PM me if you know someone that might be interested.
Hi one and all
Happy to have found this SG thread.
As introduction, I swing trade at home:
- 2 day to 2 week timeframes
- trading options of NYSE and NASDAQ stocks
- using the software platform OptionsXpress, which has a branch in SG and provides good service
- my analysis revolves around using Elliott Wave and price action (meaning candlesticks, classical charts, support, resistance, volume, moving averages)
Working at home, I would value just meeting fellow traders and chatting to learn about:
- day trading v my current swing trading timeframes
- options pricing theory
- how useful places like UOB Schneider (which is discussed in some of the preceeding posts) are
- momentum and other indicators (and how that may complement my analysis above, if at all)
- further details of Elliott Wave Theory
Do PM me if you think we can have a good conversation based on (some or all of) the above. Happy to throw some pointers on what I know. It would be nice if you could introduce yourself with some degree of trading experience or record.
Cheers!
Those interested in forex can also get together here:
http://www.forexfactory.com/showthread.php?t=398243
trillenium,
just saw your post. I had some experience developing some flat price systems for futures during grad school at MIT. took up a job in advisory afterwards though, so trading took the back burner. i'm interested in getting back in the game though. would love to chat to see if there are any common interests areas to work together.
please PM me as my PM functionality doesn't seem to be enabled yet.
thanks,
budfox
I know it is possible to trade from home using professional solutions like Sungard / GL Trade.
I think Phillip Futures is providing it.
Is anyone using this? Any feedback?
Besides I've seen their new product "marketmap" for technical analysis/news/quote which is VERY nice. It works with GLWin too.
Not sure whether UOB is providing this software though?
I heard you can trade both equities and derivatives using this GLWin. Anyone tried it?
Thanks!
Singapore traders - do you get into tax troubles when trading is your main business or you trade very actively (ie do you end up paying cap gain tax, possibly as income ? ) or do you enjoy the singapore no cap gain tax anyway ?
In the case cap gain might be taxed, if it's your main income, do you just trade through an offshore company, as I think singapore tax system is similar to Hong Kong's and strictly territorial - ie one only pays taxes on locally derived income ?
hi guys,
Someone to help?
I've had a short hands on GL Marketmap, my office used to have it.
My opinion, wasn't that good and pricey as well. In fact, they decide to move to NextVIEW instead. But a lot depends on your trading needs, you can try calling up GL Singapore and request for a demo.
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