Forex/Cryptocurrency General Chit Chat Thread

[Mr.Canberra]

Luckily I got 25% of my whole portfolio investment in China, may be can consider as a farmer when I retire haha

Wow you up your stakes in China huh? One thing to note is if your investment holdings is passive (sleeping partner) then you better have eyes on the ground. China is good for making money but you must also safeguard yourself because rule of law is still lacking.

If you ask me open a noodle shop in China or Singapore? My answer is of course China. Our funding currency SGD is able to lever up 4.8X via PPP. If funding currency is CHF, EUR, USD, GBP, etc. lagi song.

Farm land or farming is hard asset category. Long term wise no worries. Even got war also will not affect. Man needs food whether rich or poor.

You go to those Tier 1 cities like Shanghai, Beijing, Guangzhou, Shenzhen in China. KNN one bowl of noodles more expensive than our hawker centre. China median salary although much lower than Singapore but their cost of living in Tier 1 cities is higher than Singapore if you do not cook.

Now some jokers will argue that some Tier 2 or 3 cities cheaper leh. Please don't be cock lah. I am comparing Tier 1 city against Tier 1 city. Singapore is Tier 1 city isn't it?

 

[Mr. Wood]

anyone caught GBP move?
but Eur is muted.

 

[Mr.Canberra]

anyone caught GBP move?
but Eur is muted.

Nowadays all the economic data news release can rarely see violent spikes or plunges. Political news then can trigger volatility.

Uncle Trump really ki siao liao. 00:30am SGT.

 

[Mr.Canberra]

USD/JPY

Wow sh*t we may see USD/JPY break below 105.0!

Standing by Po Chai pills.

 

[Mr.Canberra]

Trade tariff news against Ah Tiong land come out liao!

USD is bidded now.

 

[Mr.Canberra]

USD/JPY

USD/JPY closed at 105.2X.

I believe 104.XX could be coming today!

Ok 5am liao. Punch card out end of shift.

 

[havetheveryfun]

USD/JPY closed at 105.2X.

I believe 104.XX could be coming today!

Ok 5am liao. Punch card out end of shift.

104.7 already..

when will JPY weaken again ?

 

[awful999]

USD/JPY closed at 105.2X.

I believe 104.XX could be coming today!

Ok 5am liao. Punch card out end of shift.

cut loss and run road first, later see how

 

[ExtremeWays]

China is self sustainable now. In fact, dollar bulls will get squeezed soon because of trumptards

Am I right? China is in strong position to fight US

 

[Mr.Canberra]

USD/JPY

104.7 already..

when will JPY weaken again?

cut loss and run road first, later see how

Chua sai liao!

 

[awful999]

Chua sai liao!

before chua sia run road first

 

[Mr.Canberra]

before chua sia run road first

Stocks no cut? No chua sai?

 

[awful999]

Stocks no cut? No chua sai?

stocks got cut too but overall still gain, only profit become lesser

 

[Mr.Canberra]

stocks got cut too but overall still gain, only profit become lesser

Wah things can really turn quicky!

Only GOD will make profit and no loss.

 

[Takodoro]

Its remarkable how JPY suddenly become so strong. It was so weak the past 2 weeks....I think a lot of people got trapped in it.

Luckily UJ long can earn interest.

 

[Mr.Canberra]

USD/JPY

Its remarkable how JPY suddenly become so strong. It was so weak the past 2 weeks....I think a lot of people got trapped in it.

Luckily UJ long can earn interest.

I have some non leverage Yen holdings in my basket of currencies so can hedge a bit against USD.

The catalyst is the USA trade tariffs. Now China hitting back. All Asia stock indexes down.

USA exporters and China importers will cry.

STI down -2.68%. Singapore will also be affected from less transhipment. Trade volume sure drop.

When there is any form of war. Hard assets will shine. Land, port, transport, commodities. More en bloc. More good years. Swiss standard of living coming to Singapore. Huat ahhh!

 

[Takodoro]

From past experience reading MNI's order boards it is 90% zhun. I feel 105.0 is a done deal for today.

Below this level tiagong 'invisible hand' will start to show hand.

PS: Some traders pay good money for MNI trading news feed. But the best is Bloomberg Terminal. Annual subscription fee is USD 5 figures.

Can long UJ already?

 

[Takodoro]

From past experience reading MNI's order boards it is 90% zhun. I feel 105.0 is a done deal for today.

Below this level tiagong 'invisible hand' will start to show hand.

PS: Some traders pay good money for MNI trading news feed. But the best is Bloomberg Terminal. Annual subscription fee is USD 5 figures.

I am also heavily vested in USD ok but my spidey senses are telling me the big boys are setting a trap.

Q1 is confusion stage. Q2 is massacre stage. Japan's work year starts Apr 1st. Usually Japanese exporters will dump the JPY to make it weak thus boosting exports. Imagine you are a salesman returning to work from Chinese New Year break. Beginning of the year you will want to rack up more sales in case the rest of the year have slower sales.

So continue to short?

Or just open 1 long and 1 short and let it be? Straddling no stop loss.

 

[Mr.Canberra]

USD/JPY

Its remarkable how JPY suddenly become so strong. It was so weak the past 2 weeks....I think a lot of people got trapped in it.

Many traders got caught long so that is why the USD/JPY keep dropping. Let the stops clear out first. Daily RSI already oversold.

Can long UJ already?

So continue to short?

Or just open 1 long and 1 short and let it be? Straddling no stop loss.

All priced in. Big Boys taking profits and selling off.

Frankly speaking very hard to say. At such levels neither here or there. That almighty hao lian buay kan 'GOD' cum Sim Lim Square pirated software vendor say heading to 100.00. You can follow his call if you want.

I think near term upside is more than downside.

Next week enter Q2 liao which is the start of new work year for Japan. Maybe the Japanese exporters will dump JPY. Expensive Yen is not good for exports.

 

[jonleong]

Newbie question on Forex trading regulations in Singapore

In Singapore, can we trade Forex on behalf of a friend in a personal capacity? i.e. I give my friend $50k to trade Forex on my behalf but under his name/account and at the end of 3 months he transfers the money back to me.

Does MAS allow for this or is it subject to specific MAS regulations?

Any guidance is appreciated thanks.