Official Shiny Things thread—Part III

[Eternit]

missed the boat already

IWDA was 53.6
today its 55.65 and going up

3.6% increase

those who unload warchest, congrats
those who missed, well next time got chance

bought 45 units at 54 dollars yesterday, happy with that.

 

[Rknight]

I need help in converting SGD to USD in IBKR.

I used to convert through the IBKR app. But recently i realized the USD option is not available.
Which means i can convert SGD to HKD/CNH/JPY. But can't choose USD. why ?

 

[weakgirl]

54.5 in

DCA let's go!

 

[careforsoldier]

Just started my DCA IWDA journey with 50 units @ $54.39

 

[celtosaxon]

DCA is based on a regular purchase date, not a special purchase price. Who knows where it will be by month end?

54.5 in

DCA let's go!

 

[celtosaxon]

Pick a date, not a price.. otherwise you risk losing your discipline. Disciplined investors almost always see better returns.

Just started my DCA IWDA journey with 50 units @ $54.39

 

[lingalong]

Correct me if I’m wrong, but in IBKR you can only convert SGD to USD in minimum amount of 1K SGD witb increment of 1k?

And the steps (taken from old post)

1) Transfer Money into IBKR
2) Open TWS, select USD.SGD
3) Click on +, set destination to FXCONV
4) Set Buy
5) In the amount, change to SGD and set the amount of SGD to exchange to USD
6) Make sure LMT is selected, click on Ask +100% (or more)
7) Submit

Correct?

 

[highsulphur]

I need help in converting SGD to USD in IBKR.

I used to convert through the IBKR app. But recently i realized the USD option is not available.
Which means i can convert SGD to HKD/CNH/JPY. But can't choose USD. why ?

Look for usd.sgd

 

[tesarise]

Correct me if I’m wrong, but in IBKR you can only convert SGD to USD in minimum amount of 1K SGD witb increment of 1k?

And the steps (taken from old post)

1) Transfer Money into IBKR
2) Open TWS, select USD.SGD
3) Click on +, set destination to FXCONV
4) Set Buy
5) In the amount, change to SGD and set the amount of SGD to exchange to USD
6) Make sure LMT is selected, click on Ask +100% (or more)
7) Submit

Correct?

you are wrong.
can convert any amount

 

[kram62]

Correct me if I’m wrong, but in IBKR you can only convert SGD to USD in minimum amount of 1K SGD witb increment of 1k?

And the steps (taken from old post)

1) Transfer Money into IBKR
2) Open TWS, select USD.SGD
3) Click on +, set destination to FXCONV
4) Set Buy
5) In the amount, change to SGD and set the amount of SGD to exchange to USD
6) Make sure LMT is selected, click on Ask +100% (or more)
7) Submit

Correct?

You can convert in any increment.

 

[kram62]

I need help in converting SGD to USD in IBKR.

I used to convert through the IBKR app. But recently i realized the USD option is not available.
Which means i can convert SGD to HKD/CNH/JPY. But can't choose USD. why ?

Are you trying through a normal order (same screen as if you buy stocks or ETF) or via the convert currency function?

The convert currency function is easier to use, it asks what currency you want to convert FROM, and what you want to convert TO.

 

[GameboyX]

hi guys,

i'm a bit confused with the preference on whether to use SCB or IB for buying IWDA (or foreign ETFs). background is i'm thinking of DCA with SGD1,500 monthly, rotating between the three ETFs in the 3-ETF portfolio each month.

so for SCB they have lower commissions, while for IB the biggest disadvantage is due to the USD$100,000 'fall-below charge' (i'm not expecting to hit USD$100,000 in decades as i'm likely to use IB only for foreign stocks)? however i have seen comments that IB has more favourable fx spread which may negate the disadvantage, is this something i can assess by visiting their 'charges' page in their website, or is a 'do it to know it' thing?

 

[tesarise]

Wait till it hits $50 and I win then.

It's still a better strategy than buying in over the past couple of years.

looks like cant congratulate you today
was hoping to see the win

 

[tesarise]

hi guys,

i'm a bit confused with the preference on whether to use SCB or IB for buying IWDA (or foreign ETFs). background is i'm thinking of DCA with SGD1,500 monthly, rotating between the three ETFs in the 3-ETF portfolio each month.

so for SCB they have lower commissions, while for IB the biggest disadvantage is due to the USD$100,000 'fall-below charge' (i'm not expecting to hit USD$100,000 in decades as i'm likely to use IB only for foreign stocks)? however i have seen comments that IB has more favourable fx spread which may negate the disadvantage, is this something i can assess by visiting their 'charges' page in their website, or is a 'do it to know it' thing?

IB does not have a fall below charge. you are thinking of the minimum activity fees. Basically you need to "spend" at least 10 USD of trading fees with IB each month. If the commissions for the current month does not hit 10 USD, IB will deduct the difference from your base currency balance.

In other words, every dollar of commissions will offset this fee.

 

[tangent314]

i'm a bit confused with the preference on whether to use SCB or IB for buying IWDA (or foreign ETFs). background is i'm thinking of DCA with SGD1,500 monthly, rotating between the three ETFs in the 3-ETF portfolio each month.

My recommendation would be to go all in with IWDA every month first, until you reach the US$100k, then start doing STI ETF and MBH.

 

[flowerpalms]

Exactly! You dca once a month, not by price.

And if thats additional investment to you ,you may have messed up ur portfolio. Very good.

Hopefully those who rush in to buy now, iwda dont go lower price.

I shall stick to my regular monthly dca end of this month. Not going to buy now.

Yes, Warren Buffet says be greedy when others are fearful. But what the heck, this not apply to DCA

Pick a date, not a price.. otherwise you risk losing your discipline. Disciplined investors almost always see better returns.

 

[flowerpalms]

For monthly investment 1.5k, use SCB for ES3 and MBH. IB for IWDA

Just to be sure, you dont rotate among the funds by buying ES3, MBH, IWDA then back to ES3 and the cycle repeats. After you have reached your target % allocation in the 5 months, which fund to invest in will then depend on the fund that has the most shortfall in ur portfolio. Grab the calculator and punch in the numbers.

Rebalance in May and Nov. Keep it simple.

hi guys,

i'm a bit confused with the preference on whether to use SCB or IB for buying IWDA (or foreign ETFs). background is i'm thinking of DCA with SGD1,500 monthly, rotating between the three ETFs in the 3-ETF portfolio each month.

so for SCB they have lower commissions, while for IB the biggest disadvantage is due to the USD$100,000 'fall-below charge' (i'm not expecting to hit USD$100,000 in decades as i'm likely to use IB only for foreign stocks)? however i have seen comments that IB has more favourable fx spread which may negate the disadvantage, is this something i can assess by visiting their 'charges' page in their website, or is a 'do it to know it' thing?

 

[Okenba]

Exactly! You dca once a month, not by price.

And if thats additional investment to you ,you may have messed up ur portfolio. Very good.

Hopefully those who rush in to buy now, iwda dont go lower price.

I shall stick to my regular monthly dca end of this month. Not going to buy now.

Yes, Warren Buffet says be greedy when others are fearful. But what the heck, this not apply to DCA

Shiny himself has talked about time to bring out the warchest.
Assuming people know what they are doing, it seems perfectly reasonable to continue your regular DCA, while having a price plan for your warchest.

Shiny needs to emphasise the warchest bit in his next edition so that his fans get the message.

 

[Witwit84]

Can anyone advise if this is the recommended method? I have been buying using SCB and thinking to switch to IB.

If really cannot transfer, just do manually. Sell in SCB, buy back in IB. Just lose the transaction fees.

 

[kram62]

Can anyone advise if this is the recommended method? I have been buying using SCB and thinking to switch to IB.

Well, that's not what we would ideally want to do, but some people tried to move the assets directly from scb to IB and have reported that is was not possible because scb and IB cannot find a common place to do the transfer or something.

So until we hear someone report that they successfully made an asset transfer (and explaining how they managed it), the new assumption is that it is impossible to transfer assets from scb to IB directly.

The only other option thus seems to be to sell, move the cash, and then rebuy.