*Official* Shiny Things club - Part 2

[kram62]

Man it's lucky for you ST's book did not include a step where you shall jump off a cliff. Given your paranoia to follow things by the letter without thinking critically, you might have jumped...

Relax a bit and step back a second to actually understand what you are speaking about.

Knowing the exact price by buying a subscription will have no significant impact on how many shares you buy. It's only a few cents difference.

The Google quote is really enough, a free snapshot is also enough. We're speaking long term DCA investment here, so no need to sweat it.

 

[flowerpalms]

Yes but there is reason why Shiny emphasize to pay attention to it right...besides it being the NBBO best price

Afterall, the book is also about DCA long term and i am sure Shiny is most aware of it than any of us

Man it's lucky for you ST's book did not include a step where you shall jump off a cliff. Given your paranoia to follow things by the letter without thinking critically, you might have jumped...

Relax a bit and step back a second to actually understand what you are speaking about.

Knowing the exact price by buying a subscription will have no significant impact on how many shares you buy. It's only a few cents difference.

The Google quote is really enough, a free snapshot is also enough. We're speaking long term DCA investment here, so no need to sweat it.

 

[crystalnox]

Thanks for the tip on the free LSE group data bundle subscription, didn’t know about that.

 

[flowerpalms]

No problem, but do also take note that the subscription is only waived till September 2020. After that IB may charge or continue the waiver after decision

Thanks for the tip on the free LSE group data bundle subscription, didn’t know about that.

 

[beefjerky]

Also it doesn't really matter if you put a few cents above the ask price cause they will just give you the best price available

 

[Shiny Things]

Knowing the exact price by buying a subscription will have no significant impact on how many shares you buy. It's only a few cents difference.

The Google quote is really enough, a free snapshot is also enough. We're speaking long term DCA investment here, so no need to sweat it.

This is true. The IBKR price is useful because a) it's an exact price, and b) it's right there when you're entering the order. But if you've got Google Finance open (assuming the market is open as well, so the price is relatively recent), bidding half a percent or one percent above the last traded price is totally fine.

Like Beefjerky pointed out, even if you bid above where the best offer is, you'll still get filled at that best offer price.

"What price to enter your order at" is not something you need to sweat too hard. Really, the key things are to make sure you're using a limit order, and make sure your limit price is set somewhere reasonable compared to where the market is.

 

[Shiny Things]

does Shiny's book use NBBO in the context of London Stock Exchange? or are you confusing US and UK markets?

one would have thought that the NBBO concept only applies in a case where there are multiple national exchanges (Chi-X is a european exchange based in UK, not really a national exchange)

Also, yeah, look, this is true. IBKR uses the "NBBO" terminology even for markets where it's not strictly correct, like the LSE, where volume is only spread among 3-4 venues (off the top of my head it's LSE, Chi-X, Turquoise, and BATS Europe? this is probably a few years old though). So because it's what IB uses, that's what I went with.

 

[chickenessence]

Currency exchange effects on IWDA:

Did a quick search and found some discussion in post #2439 to 2442..
But sorry as I would like to all further on this.

Is there another ETF similar to IWDA but in other currency like GBP / EUR but dividend also accumulating?
Should we be concerned that if USD-SGD fall in value while our holding in IWDA (USD) getting higher and higher (but loses investment in currency exchange..)

Thanks.

.

No, you don't need to be concerned about this. If the listing currency strengthens or weakens, then on the one hand, you'll make (or lose) money on the currency exchange, but the value of the shares inside IWDA changes to exactly offset it.

Hi Shiny Thing,
Thanks for the reply.
But my limited knowledge just can't figure this out.
So let's say if one averaged USD-SGD for currency conversion to buy IWDA, 1 week later it become 1.000, How does the shares/IWDA changes offset this? (just example for discussion)

Obviously the concern is if USD-SGD drop in value..
No alternative to IWDA ETF which is in GBP?

 

[flowerpalms]

Limit Order in for IWDA 12 shares!

1 more thing, please remember to set your trading permissions to stocks - UK

 

[haruto]

I don't know if ST shld pay a % of his book proceeds to flowerpalms for helping him promote his book or ST shld pay him to keep his mouth shut

Because if i was at all interested in the book previously, i might not be now with all these constant mentions of the book

Man, he can't go 2 posts without a mention of the book. Its getting real cringey

 

[flowerpalms]

Well if you ask me, i would love to crowdfund for a 4th edition of his book. But that is only if Shiny decides to write a 4th ed.

I don't know if ST shld pay a % of his book proceeds to flowerpalms for helping him promote his book or ST shld pay him to keep his mouth shut

Because if i was at all interested in the book previously, i might not be now with all these constant mentions of the book

Man, he can't go 2 posts without a mention of the book. Its getting real cringey

 

[Listopad]

Well if you ask me, i would love to crowdfund for a 4th edition of his book. But that is only if Shiny decides to write a 4th ed.

please just stop. you are getting very annoying . you are turning off people. for goodness sake, open your eyes & mind , read another 10 books first , before touting this like a bible .

 

[FrostWurm]

Man, he can't go 2 posts without a mention of the book. Its getting real cringey

He's probably a newbie who just got into investing and needs to validate his own decisions by touting the source of his investment strategy. I can imagine if the market tanks, he's also gonna go around saying how bad the book was.

 

[swordsly]

I don't know if ST shld pay a % of his book proceeds to flowerpalms for helping him promote his book or ST shld pay him to keep his mouth shut

Because if i was at all interested in the book previously, i might not be now with all these constant mentions of the book

Man, he can't go 2 posts without a mention of the book. Its getting real cringey

And he completely misses (or IMO, selectively ignore) your points and spams whatever he wishes to.
It is the same in the other threads he frequents, especially the EDMW ones.

@flowerpalms please don’t treat this place as your diary; you want to post how many shares you bought, go do it at SSI.

 

[haruto]

And he completely misses (or IMO, selectively ignore) your points and spams whatever he wishes to.
It is the same in the other threads he frequents, especially the EDMW ones.

@flowerpalms please don’t treat this place as your diary; you want to post how many shares you bought, go do it at SSI.

I'm fine with him sharing his investment journey. Even ok with him dishing out advice now and then. Just don't keep promoting the book.

I have nth against ST and i really do like how ST keep things simple for rookie investors just fyi

 

[bobobob]

I'm fine with him sharing his investment journey. Even ok with him dishing out advice now and then. Just don't keep promoting the book.

I have nth against ST and i really do like how ST keep things simple for rookie investors just fyi

Don't forget, can use ignore function.

 

[BBCWatcher]

i) I DCA a total of 800$ a month by splitting 300$ IWDA, 300$ STI, and 200$ ABF, would it make more sense to DCA 800$ alternating into IWDA, STI, ABF to save on the fees?

Yes and no.

For the STI portion ($300/month), you can just let POSB Invest-Saver do the job into G3B every month, unmolested.

For the other $500/month, yes, it makes sense to "batch it up" into, say, quarterly installments. For example, you could use OCBC's BCIP to buy $600 of MBH every 3 months. To do that you'd have to issue properly timed instructions to resume and suspend BCIP monthly purchases, but that can be done. That'd leave $900 into IWDA every quarter via Standard Chartered. If you want to make that $1,800 every 6 months, that'd also work pretty well.

Which means it can be something like if you need the money, after your subscription has been approved, you can transfer the USD 2000 back to your personal bank account

You can, but you probably shouldn't do this (transfer back). Cash in this amount (and more) is quite well protected (SIPC insured) at Interactive Brokers, and it helps to avoid the highest monthly minimum commission if you're beyond the first 3 months after account opening.

Moreover, as other posters have mentioned, you don't actually need this market data subscription at all if you're a typical, long-term investor.

 

[flowerpalms]

You can, but you probably shouldn't do this (transfer back). Cash in this amount (and more) is quite well protected (SIPC insured) at Interactive Brokers, and it helps to avoid the highest monthly minimum commission if you're beyond the first 3 months after account opening.

Moreover, as other posters have mentioned, you don't actually need this market data subscription at all if you're a typical, long-term investor.

Yup, not going with the subscription. Went ahead to place my limit order yesterday using the Google finance.

 

[Clay Pot]

IB spoiled the market



TD Ameritrade and other brokerages’ shares tank after Interactive Brokers unveils service offering commission-free stock trades

https://www.cnbc.com/2019/09/26/int...-service-offering-commission-free-trades.html

 

[peipei1]

Hey Shiny, since IBKR is opening a Singapore office, have you considered contacting them, to sell them the idea to construct a low cost robo-investment plan for SEA market? They have very good IT resources to create one and with your experience, it can bear fruits?

We want monthly auto GIRO deductions, low exchange rates to convert our SGD, have SIPC protection.