hello friends,i'm a new comer and excellent speculator

Quote from geowalker:

dear friends,very glad to come here and meet you.it's not easy to find so active an forum for me particully with poor english.i'm chinese and living in china now,doing very well in chinese futures market,at least making steady profit isn't a problem any more.now i come here for learning more things to improve myself and preparing for future trading in usa's financial markets.thanks
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Welcome, I have been intrigued by the Chinese market for a long time now. I was in Shanghai a couple of times in the last 3 years, a friend of mine is serving as ceo for the chinese division of an european bank in Shanghai.

What do you think of the pending launch of the Shanghai Stock Index Futures, and Interest Rate Futures? There are rumors of a crude oil future contract as well being listed in SHFE, however with the Chinese Aviation Oil blow up last year in Singapore, do you think that the oil contract will be listed?

What are the rules regarding foreign investors in the Chinese futures market? Naturally the wild speculation in the early 90s caused the government to severely raise the FCM capital requirement (from 5 Million RMB to 30 Million RMB if I remember correctly). If Chinese government allows so, I know that I can probably put an entity together to be interested in purchasing minority stake in a Chinese FCM just to gain access.

Rufus
 
Ni Hao Geowalker;

Welcome to ET.

When you say you trade Chinese futures which ones are the biggest contracts in China? Is there any pit trading (open outcry) in China or is it all electronic?

Do you trade any western futures contarts? Is it allowed for Chinese nationals to trade foreign markets? How do your friends and family feel about you trading for a living? Do they see it as gambling? How does the government view a trader? Do you have to pay taxes?

I have family in Pudong and visted Shanghai, very interesting city but did not have a chance to visit the exchange there.

I hope you don't mind all the questions, interested to hear about your experience.

She she,
Mvic
 
Quote from geowalker:

sorry,i have not any insider info about yuan.i trade by tech so i never rely on news in any market.
i don't know when our government will make yuan "clean floating",but i think it need a long time,because the government worries it will cause serious employments,banking crises,and social problems if yuan is revalued right away.
in fact,yuan is wriggling according to a bracket of currencies,despite the narrow width.i think it's more realistic to enlarge the wriggle width than make it free floating.
i don't advise you to buy yuan because i think it's dangerous and useless to guess a government's mind
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"because the government worries it will cause serious employments,banking crises,and social problems"

you mean like the rest of the world's governements do about their own currencies.

"i don't advise you to buy yuan because i think it's dangerous and useless to guess a government's mind "

"dangerous and useless guessing of governments' minds" is exactly what I specialize in trading the forex. And of a lot of other dangerously useless minds. :D
 
Quote from svrart:

Hello Geowalker,

I lived in Zibo, Shandong for 2 years. Moved 2 months ago to Lanzhou.

I am not Chinese. I am a US citizen, born in India, now working in China. However, I do love China.

Your comment in an earlier post about how your thinking is similar to the US books, is quite true. If you travel the world you will find that this is the case everywhere. The different cultures, countries' way of thinking are far more similar than what people realize.

Nice to meet you.
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very good.hope we can meet when convenient in some city of china.how is your chinese language?
 
Quote from rufus_4000:

Welcome, I have been intrigued by the Chinese market for a long time now. I was in Shanghai a couple of times in the last 3 years, a friend of mine is serving as ceo for the chinese division of an european bank in Shanghai.

What do you think of the pending launch of the Shanghai Stock Index Futures, and Interest Rate Futures? There are rumors of a crude oil future contract as well being listed in SHFE, however with the Chinese Aviation Oil blow up last year in Singapore, do you think that the oil contract will be listed?

What are the rules regarding foreign investors in the Chinese futures market? Naturally the wild speculation in the early 90s caused the government to severely raise the FCM capital requirement (from 5 Million RMB to 30 Million RMB if I remember correctly). If Chinese government allows so, I know that I can probably put an entity together to be interested in purchasing minority stake in a Chinese FCM just to gain access.

Rufus
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nice too meet you.
you really know much abou chinese markets.
the launch of stock index and interest rate futures is just a rumor.another one being considered is long-term government bond.three exchanges are researching them and hope to have them listed in high spirits,because financial futures is the future of futures industry,but this depends on china CSRC.fuel oil futures was listed in SHFE last year,but crude oil is completely different.crude oil market is still monopolized by 3 oil national companies.before the market is reformed,maybe it's impossible to see crude oil futures listed.in china,social stabilization is regarded as the most important task,so government won't risk.
it's illegal to invest chinese futures market for foreigners.so is to invest foreign financial markets for domestic residents.of course,if you want to so,you will find a way after all.
in china,there are no legal fund managers in futures market.the broker companies are forbade to manage fund for customers.there are some personal funds.in fact,these regulations are becoming more and more loosen.maybe,many things will change in short years.
if you want to know some detailed info,you can visit CSRC's website:http://www.csrc.gov.cn/en/homepage/index_en.jsp
 
Quote from geowalker:

nice too meet you.
you really know much abou chinese markets.
the launch of stock index and interest rate futures is just a rumor.another one being considered is long-term government bond.three exchanges are researching them and hope to have them listed in high spirits,because financial futures is the future of futures industry,but this depends on china CSRC.fuel oil futures was listed in SHFE last year,but crude oil is completely different.crude oil market is still monopolized by 3 oil national companies.before the market is reformed,maybe it's impossible to see crude oil futures listed.in china,social stabilization is regarded as the most important task,so government won't risk.
it's illegal to invest chinese futures market for foreigners.so is to invest foreign financial markets for domestic residents.of course,if you want to so,you will find a way after all.
in china,there are no legal fund managers in futures market.the broker companies are forbade to manage fund for customers.there are some personal funds.in fact,these regulations are becoming more and more loosen.maybe,many things will change in short years.
if you want to know some detailed info,you can visit CSRC's website:http://www.csrc.gov.cn/en/homepage/index_en.jsp
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Thanks for the information. I can read and speak a little Mandarin (I almost married a Chinese woman a few years back). I thought financial futures (specifically equity futures) is a certainty for SHFE?

I am referring to this announcement from SHFE:

http://www.shfe.com.cn/docview.jsp?docid=58232016 (apologies for others, it is in Chinese).

This would make the Chinese futures market attractive for foreign investors such as myself. Have you attended one of those workshops on the product(s)? According to what I have heard from people in Shanghai, the products are already in internal testing period.

CME is launching an Asian Index futures (based on S&P Asian-50 index) in 2006 as well, it would be interesting to see.
 
Quote from Mvic:

Ni Hao Geowalker;

Welcome to ET.

When you say you trade Chinese futures which ones are the biggest contracts in China? Is there any pit trading (open outcry) in China or is it all electronic?

Do you trade any western futures contarts? Is it allowed for Chinese nationals to trade foreign markets? How do your friends and family feel about you trading for a living? Do they see it as gambling? How does the government view a trader? Do you have to pay taxes?

I have family in Pudong and visted Shanghai, very interesting city but did not have a chance to visit the exchange there.

I hope you don't mind all the questions, interested to hear about your experience.

She she,
Mvic
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ni ye hao.
some contracts are very active,such as soy bean,cotton,copper,fuel oil,rubber,wheat....but no financial futures.trading is completely electronic.anybody can trade at his home by pc or sitting in the hall of broker corporations only if he has an account in a broker corporation.
it's forbidden to invest foreign futures markets except for some large-scale companies whoes goal is restricted to hedge.of course many people can also trade foreign futures by all kinds of ways.but unfortunately,few can win.i hope someday i can participate in those international markets and win western's money,hehe.but it isn't time now.
traders needn't pay taxes.
in fact i just graduated last year from a college majoring in finance.many people think futures is a gamble game and nobody can win ultimately so that i'm too bored to explain to them.they can't understand the nature of speculation.speculation is a kind of philosophy,a harsh train and trial of humanity.i love this industry and keep getting some income from speculation.it's enough.
 
Quote from rufus_4000:

Thanks for the information. I can read and speak a little Mandarin (I almost married a Chinese woman a few years back). I thought financial futures (specifically equity futures) is a certainty for SHFE?

I am referring to this announcement from SHFE:

http://www.shfe.com.cn/docview.jsp?docid=58232016 (apologies for others, it is in Chinese).

This would make the Chinese futures market attractive for foreign investors such as myself. Have you attended one of those workshops on the product(s)? According to what I have heard from people in Shanghai, the products are already in internal testing period.

CME is launching an Asian Index futures (based on S&P Asian-50 index) in 2006 as well, it would be interesting to see.
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marrying a chinese woman may be a good choice.can you tell me where are you from?
in fact last year Brunei launched china unified index.it made chinese futures corporations impatient.but government won't always listen to them.it still need time,maybe next year.
ok,i must be offline.c u tomorrow
 
Quote from geowalker:

marrying a chinese woman may be a good choice.can you tell me where are you from?
in fact last year Brunei launched china unified index.it made chinese futures corporations impatient.but government won't always listen to them.it still need time,maybe next year.
ok,i must be offline.c u tomorrow
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I am Canadian, born and bred, so now here in US, I am completely indistinguishable from your average American. The girl didn't work out because her parents believe she should marry a traditional Chinese, but I forced myself to learn Chinese for over year to meet her parents. Since then I have managed to learn and practice more Chinese by doing dim sums, and trying to read chinese newspapers with the help of a dictionary and some very patient friends. Naturally, the girl I am currently dating is Korean, and I have been trying to learn Korean, which isn't too bad, Chinese was very difficult at the beginning.
 
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