Closure of Charles Schwab SG Office (end of 2019)

Hi Guys,

Its been more than 10 years I've been a customer of Charles Schwab Singapore (previously known as OptionsXpress Singapore).

I've been using this platform for my US Stock/options investing over years, now its time to switch to another Financial Institution Platform.

Attached information regards to its closure for your reference. By end of 2019 Singapore account holders have to close/liquidate positions as they are unable to port our account to US head office due to local monetary authorities  regulations.

I'll continue till November, then liquidate my account and make my withdrawals. I'll be switching to Ameritrade. But my blog will continue under a fresh new account and record.

I'll capture my last summary and post it on my blog on end 2019.

 

Links: https://www.channelnewsasia.com/news/business/charles-schwab-to-close-singapore-office-11875640

72nd TRADE (29/04/2019)

Hi All,

Positions expired, now for the next trade to collect Cashflow. Reminder: its Cashflow which maintains the business's operations, Profits pays off the expenses. CashFlow can help you retire as its easier to manage and consistent, compared to Capital Gains, you might get a few big gains for a few months, but on the low/loss months how would you pay your expenses or even retire on a monthly basis ?

CashFlow can maintain your monthly expenses, once sufficient to cover all expenses, you can basically Retire.

Here's the latest trade:

Sell September Call Strike $4, 14 qty, Premium ($20 x 14 less comm $15) USD $265 nett Cashflow
Sell September Put Strike $3, 4 qty, Premium ($35 x 4 less comm $15) USD $125 nett Cashflow

Total: USD $390 nett Cashflow

*Refer to Disclaimer

71st TRADE (18/03/2019)

Hi All,

My last position expired, now its time for another round of Cashflow collection.

There's one point i need to reiterate, my system isn't about having the correct Direction Bet to make profit from price difference, rather its to make Profit by converting speculation in direction to a business which generates income Cashflow long term.

Think about it, how many time out of your whole life can you get the direction right and make profit, then would be if you add them all up, but Still make a lot of profit consistently enough to supplement/replace your working income to retire ?

But if the share you own make small movements of Ups and Downs, but generate consistent Cashflow till you gotten a Critical Mass of owning large volume of shares to produce enough Cashflow to replace your Job income without having the share price to actually go high up to rip a profit. Based on this would you be able to retire ? Or would you rather make a 300% return in a few years and retire on it, only to spend it all and going back to square one ?

Here's my trade:

Total collected ($25 x 14 less comm $15) USD $335 nett Cashflow for April 26th 2019 expiry.

*Refer to Disclaimer

Updates (31/12/2018) - Withdrawal

Hi All,

To Simplify the updating, I'll compute my Withdrawals on a Year-End basis for the whole year.

For the year 2018, total withdrawals taken was USD $7005 (Rate 1.4325 less charge of USD$25 and S$10) = S$9988.85

70th TRADE (19/02/2019)

Hi Guys,

HIMX Calls expired last week, yesterday i placed a trade to sell another round for Cashflow.

Total collected ($25 x 14 less comm $15) USD $335 nett Cashflow for 22nd March expiry.

*Refer to Disclaimer

69th TRADE (31/12/2018)

Hi Guys,

I've been assigned a total of 14 lots of HIMX due to the fall of share price in the last week. For this trade I've collected ($15 x 14 less comm $15) USD $195 nett Cashflow. Due date for expiry is Feb 15, 2019

*Refer to Disclaimer

68th TRADE (26/11/2018)

Hi,

As HIMX is moving lower, i'll deploy my Cash in account to prepare for an averaging down by positioning to buy in 300 shares.

Sell Put $4, expiration 28th Dec, 3 contracts, for 3 lots, I'll collect ($25 x 3 less comm $15) USD $60 nett Cashflow.

*Refer to Disclaimer