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Old 21-01-2015, 08:19 PM   #3256
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https://sg.finance.yahoo.com/news/st...233001013.html

After reading this article, i feel like closing my SCB account.

Any other brokerage (non local ones) offer competitive comm rates?
First paragraph of article https://sg.finance.yahoo.com/news/st...233001013.html
Dollarsandsense.sg shares why using Standard Chartered Bank Singapore’s (SCBS) Online Equities Trading platform could potentially cause you to lose all your stocks should the company folds its operations.

I think someone ought to tell the writer Marcus Chua of Dollars and Sense that if SCB closes the business, our stocks are still intact. Closing a subsidiary business is different from the entire business (parent + all subsidiaries) going bankrupt. If Marcus Chua is worried about SCB, the entire bank, going bankrupt, then all of us have better things to worry about. Worry about your deposits in all banks if SCB goes bust because of the financial contagion effect.

I think it is highly unethical to get the facts wrong and smear a business reputation. When the business is adversely affected because of fear-mongering, jobs can be lost even if the writer is spreading untruths.
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Last edited by klarklar; 21-01-2015 at 08:25 PM..
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Old 21-01-2015, 08:23 PM   #3257
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First paragraph of article https://sg.finance.yahoo.com/news/st...233001013.html
Dollarsandsense.sg shares why using Standard Chartered Bank Singapore’s (SCBS) Online Equities Trading platform could potentially cause you to lose all your stocks should the company folds its operations.

I think someone ought to tell the writer Marcus Chua of Dollars and Sense that if SCB closes the business, our stocks are still intact. Closing a subsidiary business is different from the entire business (parent + all subsidiaries) going bankrupt. If Marcus Chua is worried about SCB, the entire bank, going bankrupt, then all of us have better things to worry about. Worry about your deposits in other banks if SCB goes bust because of the financial contagion effect.

I think it is highly unethical to get the facts wrong and smear a business reputation. When the business is adversely affected because of fear-mongering, jobs can be lost even if the writer is spreading untruths.
maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat
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Old 21-01-2015, 08:26 PM   #3258
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maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat
The author doesn't know what's he is writing lah.. Zzzzz
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Old 21-01-2015, 08:27 PM   #3259
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maybe he has other aims, he is not happy that a lot of stocks are rising due to reduction to 100/lot and no min com from SCB, aka he has missed the boat
It will be interesting to know if the article was sponsored by SCB's competitors. It is not uncommon for bloggers to write paid articles which by nature has to be biased.
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Old 21-01-2015, 08:29 PM   #3260
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The author doesn't know what's he is writing lah.. Zzzzz
That writer should take a leaf from Sinkie, our honest broker. Although Sinkie is SCB's competitor and benefits from SCB sinking, he at least agrees that the writer is writing rubbish. Sinkie, do you think our stocks will be potentially gone if SCB folds the online trading operation?
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Old 21-01-2015, 08:29 PM   #3261
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It will be interesting to know if the article was sponsored by SCB's competitors. It is not uncommon for bloggers to write paid articles which by nature has to be biased.
He's just trying to get readership lah haha
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Old 21-01-2015, 08:30 PM   #3262
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That writer should take a leaf from Sinkie, our honest broker. Although Sinkie is SCB's competitor and benefits from SCB sinking, he at least agrees that the writer is writing rubbish. Sinkie, do you think our stocks will be potentially gone if SCB folds the online trading operation?
Gone le can go where? Unless of course Scb secretly transfer the shares from the nominee into their own book and then declare bankrupt lor
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Old 21-01-2015, 08:34 PM   #3263
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When we invest on equity unit trusts, the fund managers don't own the share, do they? They don't have CDP system too.

So, I think the same concept applies for SCB. The shares are held by custodian.

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Old 21-01-2015, 08:38 PM   #3264
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Gone le can go where? Unless of course Scb secretly transfer the shares from the nominee into their own book and then declare bankrupt lor
Exactly. It is ok to be ignorant about the concept of segregated funds. However, to talk as if one is knowledgeable and warn people about totally misplaced fears thereby smearing the reputation of a business, I think that is very irresponsible. I wonder what will the action of SCB be. Will the writer want someone to do the same thing to him if he were running a business?

Last edited by klarklar; 21-01-2015 at 08:40 PM..
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Old 21-01-2015, 08:44 PM   #3265
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It will be interesting to know if the article was sponsored by SCB's competitors. It is not uncommon for bloggers to write paid articles which by nature has to be biased.
Marcus Chua:
I'm a junior analyst in a global established credit rating organisation.

Never trust credit rating organisation...
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Old 21-01-2015, 09:00 PM   #3266
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Marcus Chua:
I'm a junior analyst in a global established credit rating organisation.

Never trust credit rating organisation...
No wonder.
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Old 22-01-2015, 11:22 AM   #3267
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i see that there are 2 fields for selling - stop loss & lowest selling.

stop loss is used when price is below ur buy price to prevent further losses, whereas lowest selling is used to take profit when price is above ur buy price. pls correct me if i'm wrong.

so do we choose to input only 1 field or both fields?
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Old 22-01-2015, 11:52 AM   #3268
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i see that there are 2 fields for selling - stop loss & lowest selling.

stop loss is used when price is below ur buy price to prevent further losses, whereas lowest selling is used to take profit when price is above ur buy price. pls correct me if i'm wrong.

so do we choose to input only 1 field or both fields?
Stop loss, is the price where your sell will be triggered, meaning you are ready to sell at all cost at this price and below( BUT!! this low price has a floor, which is set by your lowest selling price) Any price below this lowest selling price would not be executed.

E.g. you wanna sell Singtel, stop loss at 3.95, lowest at 3.93.
In this case, your stop loss will be triggered once singtel price falls to or below 3.95. It will attempt to sell between the price of 3.95-3.93. Let's say singtel falls from 3.96 to 3.92, your order will not be executed.

Why have this? To prevent huge losses.
The standard sell can execute your 3.95 and below already. Meaning, if you die die wanna sell, set a low enough price and it will confirm be sold.
The 'stop loss, lowest' set a floor which if the price fall too much, you would rather hold the share then sell at this lousy price.
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Old 22-01-2015, 12:30 PM   #3269
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Stop loss, is the price where your sell will be triggered, meaning you are ready to sell at all cost at this price and below( BUT!! this low price has a floor, which is set by your lowest selling price) Any price below this lowest selling price would not be executed.

E.g. you wanna sell Singtel, stop loss at 3.95, lowest at 3.93.
In this case, your stop loss will be triggered once singtel price falls to or below 3.95. It will attempt to sell between the price of 3.95-3.93. Let's say singtel falls from 3.96 to 3.92, your order will not be executed.

Why have this? To prevent huge losses.
The standard sell can execute your 3.95 and below already. Meaning, if you die die wanna sell, set a low enough price and it will confirm be sold.
The 'stop loss, lowest' set a floor which if the price fall too much, you would rather hold the share then sell at this lousy price.
thanks!

so how about if i want to take profit using this stoploss/lowest selling?

let's say singtel is 3.95 and i want to take profit & sell when it reaches 4.. so lowest selling = 4, and stop loss = 4.05??
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Old 22-01-2015, 12:44 PM   #3270
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thanks!

so how about if i want to take profit using this stoploss/lowest selling?

let's say singtel is 3.95 and i want to take profit & sell when it reaches 4.. so lowest selling = 4, and stop loss = 4.05??
I understand what you wanna do but Stop loss is not for that.
If you simply wanna sell at $4, just sell at $4 using the normal sell.
Afaik, there is a trailing stop thing which scb doesn't have that help you take profit on a drop when price fall a little after a big rise.
Scb lacks a lot of the functions, but well it's cheap.

Last edited by Perisher; 22-01-2015 at 01:04 PM..
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