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There are "no" restrictions on non-US residents owning US stocks....I've set-up an Interactive Broker -Joint Account (IB Aust) with the "boss" for tax reasons obviously for this.....as long as you sign a US W-8BEN form you are good to go (your broker will get you to sign it online)....they screw you on Dividend tax but the US stock Div payout is tiny compared to Oz so no real loss there....
Tax wise no big deal as I'll just use the IB Broker Sts for the tax return like I've done for many years..with no issues...
There is a bit of FX risk obviously as the US weakens against AUD (expecting this to continue) but as long as I do spot FX to flatten any US cash balances that's the best you can do....I'm not sure if it's worth hedging it to be honest with CME AUD futures - minimum size $100k.
Slowly getting my consistency back as I adjust to the lower volatility....the journey continues as always. The human brain is not naturally calm and disciplined
Been spending a lot of time on getting my stock models in order as with the settlement proceeds due to arrive early September I need to put the funds to work..unfortunately my retirement lifestyle has been impacted by Covid19 like everyone else.....I no longer have confidence in the commercial property returns going forward as the "work from home" reality will continue for a LOT longer than most realise. I read about this "new" reality daily now in the newspapers....the current MTM of a lot of property funds are inflated in my opinion hence time to get out.
Attached 2 - My "back-tested" returns for my latest model called "HNY" that trades the Nasdaq 100 stocks with a weekly hold using ranked momentum only as a filter + a risk filter to move back to cash if we get a march meltdown like we had earlier this year. I'll trade this with corresponding AUD futures hedge from next month. The goal is to have multiple streams of income from multiple models....my HangSeng day trading reported here being just one of them.
Started after 11:55am as had to take the wife again to the Dr.....this year has been tough health-wise.
So (3/3) + 27tics....lets see how this continues then I'll ramp up the risk again.
Good patience today......just have to wait for the bus to arrive and hop-ON board the momentum at the supp/resist levels....not exactly rocket-science.
Second entries seem to work better at the moment. (excluding the last trade = trap....)
Another nice result today...damn it required some patience waiting for the last trade....my "old" self would have done a number of "speculative" trades during this time but I waited - perfect patience is what I call it..
I chickened out on the last trade down to a 1-lot....but looks like (fingers crossed) I'm slowly adapting to the lower Volatility...basically for me means don't buy "Break-outs" (if possible)
Good news with the wife's health we have determined the shingles pain medication that she was given gave psychedelic withdrawal symptoms that are now under control (AFT).....I really hope the number of Dr visits will come down now..
I'm racing to get another model online - its' "mean-reversion" on my interactive broker account...before the Funds arrive later this week...but I need to reconcile the entry points on Amibroker Vs the Excel model first....what a pain when you have smoothed moving averages.
