How Could I’ve been so BLIND?!
All these years of planning and obsessing, the only thing that stood between me and great wealth was a thing called international wire tranfers of funds.
I already knew how to trade, and was ready to lose money over it. But how to trade if you don’t have money? And I was done with virtual trading too.
I asked around about how to transfer fund to OptionsXPress. I asked my dad (bad move), I asked my lecturer (and even badder move), I even asked my clueless friends (a desperate move).
Why a bad move you say? Because my dad doesn’t trust online money handling, and he’s suspicious about options trading. (Yeah right, he was the one who paid 4k for me to join the course :/) Asking my lecturer was even worse!! He was suspicious of the broker! "Who’s the guy? How good is he? How do you know him? Online? What if he’s a fraud? Options is risky. Don’t do it."
Gaaah!!
I’m asking how to wire funds! NOT asking you to tell me that I’m crazy and being defrauded!! Even so - it’s my money. I’d rather put my money into trading and lose rather than into some crappy MLM program (on that note, Amway sucks).
But not anymore. Because as I registered an OX account today (My account this time. No longer my sister’s because I’m already over 18 and can cheat on my years of trading experience 
but thanks to my sis for letting me borrow her information all these years) I found out that aside from wire transfer, there is a thing called good ol cheques.
I had thought of cheques before, but my dad said in order to send cheques you have to open a current account and current accounts have fees. After that he gave me a lecture on how risky the stock market is and how suspicious he was towards this ‘online thing’. And then proceeded to tell me how IPTA students often gambled their PTPTN money on certain online money-making programs.
I rolled my eyes and numbed my ears.
HOWEVER!
If not because of my new revelations towards cheques, this post won’t even be here. The thing is, I have found out about the beauty that is Cashier’s Cheque.
Cashier’s Cheque is also known as bank check, official check, teller’s check, bank draft or treasurer’s check. In Malaysia it is known as Cashier’s Order (CO), or Banker’s Cheque.
So how exactly is this cheque beautiful? I’m glad you ask :D! In short, Cashier’s Cheque/Order, allows you to send money in cheque form to anywhere in the world. And you don’t even have to open a bank account in the bank you’re using the service for. These banks will normally have its own foreign currency exchange and will immediately convert your money into the desired currency you wish to cheque’d. I have recognized several banks:
AmBank - this bank calls it Cashier’s Order
CIMB Bank - this bank refers to it as Banker Cheque
EON Bank - Cashier’s Order
Alliance Bank - also Banker Cheque
Different names, same thing. Makes me wonder why they bother using two different names for the same thing. Banks like to mafan themselves.
I might skip Alliance Bank and go to the first three banks. I found out that there’s a standard charge of RM 2 for issuance plus 15 cent stamp duty. If not due to my own desperation, I wouldn’t even know there was a thing call a Cashier’s Order and that the everyday banks all (or most) offer it. Why am I so left behind?
So let’s review: I already printed out my form, located the nearest bank for my remittance, now all I need to do is raise enough money to start trading :D. I actually don’t have to ‘raise’ money. I already have enough money in my reserves, but I’m giving myself until the end of the year. By then I would have already reviewed all the materials from my course and be ready to make those Debit and Credit Spreads, whee!
By next year, look forward to seeing a lot of chart print screens here hehehehe.
I am aesthetic.
Oh and if you have nothing to do, please head over to 12 Habits.
Ta’ra!
