Gringinho.....I got you confused with rjmahan. I apologize to rj and I deleted my prior post. Now.....Gringinho, are you an Oxford grad and do you live in China???
No, and if you read up on further China details, you would see how they're diverting from communsim with regards to the economy with various reforms - hence the strongest growth rates in the world the last few years. And if you wan't to talk human rights, consider death penalty and Guantanamo Bay, but it's sooo off topic. The point (of a big nail) I'm trying to hammer in - is that there probably are a lot of things you are rather oblivious to when it comes to China. So before posting wrong assumptions about national or ethnic groups - try doing a little bit of research first. It's a great way to educate yourself.
Guess I've just got a lack of interest concerning research of China. If you want to believe in China, be my guest. If I want to talk about human rights, consider the death penalty and Guantanamo Bay?? Huh? I'm not so much on the death penalty, but you're right about Guantanamo Bay. Those heathens shouldn't have ever even made it to Guantanamo Bay!!! Oh, no doubt, I'm rather oblivious to life in China. Posting wrong assumptions about ethnic groups? Don't EVEN go there Grin. But, you're right---off topic here. Hope rj learns more about trading. If there's to be a last word, you have it sir. Regards. BSAM
Maybe diverting at too strong a pace. A very close friend of mine spent a lot of time and a lot of money putting together a deal to import Chinese automobiles to the US (China ranks behind only the US and Japan in number of automobiles produced). Everything was lined up. Dealerships, all US licensing, etc. But when it came to dealing with the Chinese, he could not come up with the almost $10 million (US) in cash for the bribes to cut the RED (pun intended) tape. He is still trying to work the deal, but is not hopeful. Importing cars is not a new thing for this friend. He knows the business and has a track record. His failure so far is solely due to his inability (financially and otherwise) to deal with the incredible corruption in a nation "learning" about how to do capitalism. Peace, RS
Yes, corruption is one of the world's biggest problems for fair gloablization and ability for social and economic reforms. Oil companies have perhaps the worst track record there. In europe there have been a lot of scandals uncovered with oil companies bribing officials, their relatives etc. I don't think the same kind of scrutiny is exercised in many other parts of the world. Trading/doing business with anyone as a partner is always a challenge, and there are crooks all over the world wanting your money. I'm quite satisfied trading from Brazil for the moment, and will never go back to working again. I have too much fun now trading, programming, welding, doing house reforms, having a beer on the beach any day of the week any day of the year etc. , and am glad I "retired" before I got 30 years old.
OK guy who said I should learn to play poker. You could be onto something. I never 'got' card games. My trading lacks savvy and this is one way I could get it. Of course you could argue savvy cannot be learnt. I do not believe so. Having said that the time I would spend learning poker could be better spent attacking the problem directly. OK Spelling and grammar nazi I can never remember if losing is one o or two. Lots of British people use American English pretty randomnly. I will also admit it I dont know what a homonym is. I will also admit my spelling punctuation and grammar are lousy but you understand my general idea and that is what is important.... I will admit as a grammar teacher I fall way short.... Which is why I teach Economics mostly. OK I am not fantastic, but I am better than the Chinese teachers...
The guys talking about importing cars from China. Chinese like to fish and see what they can get when it comes to bribes. It is likely that if you ask them how much it will cost to move these cars they will come up with a figure such as 10-12 million - it could be 120 million. If you go anywhere in China they will charge you 10* what the proper price should be. But bear in mind out here that buys lots. If these guys were making that much they wouldnt be working in customs. Another point how much scrutiny does there need to be of exports anyway? I would suggest your friend goes to the top people in the city or tries to move his supply chain to somewhere cheaper - if it is on the east coast (at least in Shandong) coast there are lots of ports which could do some serious shipping. He should also consider playing dirty getting whoever wants the bribes to say it on tape and then going to the police etc or threatening to. This is risky also as China can be like the wild west but could work... It is not the case that they are all in it together - different guys want different parts of the pie. Anyway if you want to talk about this please do it on another thread.
Person who said I dont have enough capital to make it big trading. I wouldnt agree with this - if I get triple digit returns I can become very serious very quickly - especially with 20* leverage. (I obviously dont go nuts with the margin, if I had I would not be here now). The irony in all this is for the first 4/5 months I could do nothing but win. I ran my account up 60%. Then I decided that I wasnt making enough changed style and lost whatever it was that was allowing me to win. Either that or some slight thing in the market changed. I was gunning for triple digit returns.... I have very slowly lost money over the last year and a half and am now down around 20%. I am not going to lose another 10% without a damn hard fight, As to Enjoying life. Place I was at had a beautiful beach and great weather. I had good friends and a great life.. I never got to enjoy any of it much. I spend pretty much every waking hour reading books, looking over charts - staring at the screen trying to make the trading work. It is immensely frustrating but I am not ready to give up. I think it can be made to work. If I went back to the UK I would try for firms like GHCO, Macfutures etec... Would I have a chance and how can I improve the odds so they are in my facour?