Wednesday, October 7, 2009

The PSE and the Pursuit of Happyness – II


This post is a continuation of my previous post about stock trading.

As I’ve mentioned on Part I, I started experimenting on stock trading just a few weeks ago. I had absolutely no prior knowledge about stocks, or any kind of formal investment for that matter. Everything I know, I learned from the web and from this one-time free seminar conducted by CitisecOnline. My primary motivation isn’t really to make a lot of money (that would be great though), but to learn how the system works. Considering the minuscule amount of money I’ve invested, I don’t think there really is much to gain besides experience.

The plan is very simple:

“Learn as much as you can without losing too much, and by the time you do have enough money to get serious, you’ve already learned enough not to lose a lot”.

- A Friend of Mine, on trading stocks (paraphrased)

Swing Trading

There are different types of stock traders in the market. I’ve decided early on that to keep it simple, a single strategy would be best. Having too many considerations when making a decision is a great way to get confused and find yourself in deep shit. These are just a couple of styles you can choose from (lifted from swing-trade-stocks.com):

  1. Position Trader - These are usually institutions, or large investing bodies that hold on to a stock for a very long time. I takes a lot of money to be a position trader and also a lot of patience since your money will be frozen for a very long time.
  2. Momentum Trader – These are short-term investors that start investing when a stock is showing momentum (i.e. going up and going fast). Once they see the momentum is running out, they sell immediately and therefore make only a little profit. To compensate, they do this a lot of times, even within a single trading day.
  3. Swing Trader – This is my preferred strategy since it involves less time and effort than momentum trader. I can’t really devote too much time on this, because I’m also trying to finish grad school and teaching at the same time. To explain what swing trading is, I think it’s best to give an actual true-to-life example. Here is my very first (hopefully successful) swing trade:

Philex Mining

Philex Mining Recent Trend

About a week ago, I bought a few Philex Mining Stocks (Stock Code : PX). It was showing a decent amount of up trend and I decided to hop on board.

The key to swing trading is to look for uptrending stocks similar to PX. I drew a makeshift trend-line (blue) to illustrate my point. After you find an uptrend stock, you don’t go ahead and buy! (I was stupid enough to commit that mistake very early and I’ve learned my lesson now, thank you very much)

What you do instead, is to wait for a pullback. This is when the stock price starts to fall during an uptrend. There is very high probability that when it starts to climb up again it will try to stick to the previous uptrend. It’s amazingly simple really. You buy it at a low price (therefore lower risk) and you buy it during an uptrend (higher chance of success).

Of course you can’t be 100% sure that it will indeed go up again. For the keen observers out there, you probably saw on the graph that just a few days ago, I was looking at a potential loss if I decided to sell, since PX was falling until the end of the week. If everything goes as planned, this lowered price would attract demand and therefore possibly pull back the price next week. Fingers crossed.

CitisecOnline Features

The plotting software I used in the graph above is just one of the many nifty features of CitisecOnline (my online broker). It’s a java applet that can run on any properly enabled browser. I use Firefox 3 in Ubuntu Linux and everything works great.

Some of the other very useful features include:

  1. Regular Reports - There’s a ton of news clips and other information right at your finger tips that could potentially guide you on which stocks to avoid and which ones to buy.
  2. Investment Guide – The site ranks various stocks as either good or bad and offer a recommendation on whether to buy or not. I think this is probably more useful to Position Traders and not short term traders like me.
  3. Technical Guide – Now this is what you’d want to look at if your a swing trader. It’s a list of active stocks and whether their in an uptrend, downtrend, or sideways trend. There’s a lot more information there including support, resistance, etc. (You can learn about these terms on any swing trading site).
  4. Forums - Discuss with fellow traders about your opinions regarding market stuff.
  5. There’s a lot lot more, so just go over to the CitisecOnline site and get a free trial password.

The Real Deal

So far, I’ve been very positive about trying out the stock market. I just like to end this post with a warning. You can, and will, lose money when you trade stocks. I’ve only been at it for a few weeks and I’ve already lost some (albeit, a very small amount). So don’t come running back here and blaming me for encouraging you to try it out. Remember, any good investment has its risks and its corresponding rewards. The more potential rewards, the more risk there is.

My suggestion to the reader, would be to learn as much as you can before putting in any money. There’s a lot of stuff lying around that could get you up and started. There are even simulated stock markets. These are online games (not as flashy as Ragnarok though), where you can start to trade on the PSE using fake money. Head on over to the PSE Stock Trading Game or CitisecOnline’s Virtual Tycoon if you want to give it a go.

Good luck! See you on the trading floor.

(just drop a line if you have any questions)

The PSE and the Pursuit of Happyness – I


It’s simply amazing how easy it is today to start trading stocks in the Philippine Stock Exchange (PSE) and how very little money it takes to start investing. Just a month ago I had absolutely zero knowledge about the stock market. Except maybe for the fact that a lot of people make money on it and even more people end up losing their shirts. Through a series of serendipitous events (or maybe just a series of coincidences, depending on how you look at it), I found myself learning more and more about stock trading. Now, I’m sitting on top of a few stocks in my portfolio and writing a little about how I started.

The Pursuit of Happyness

This might sound lame, but the spark that started it all was this movie with Will Smith and his kid. It’s funny since it’s not even new and I just happened to catch a screening of it in HBO. The Pursuit of Happyness is a movie based on the true story of Chris Gardner, who basically went from rags to riches and now has his own brokerage firm. It’s a really great movie, both touching and inspiring.

Poster: The Pursuit of Happyness

After having seen it for the second time (I happen to catch it again and couldn’t resist), I thought, “Hmmm.. I could do that… I’m good with numbers!”. So I Googled “Philippine Stock Exchange” and started reading about what it actually takes to trade stocks. There’s so much about it on the net, but I found the following particularly useful:

  1. Philippine Stock Exchange – This is the website of the only stock market in the Philippines and there’s enough information here to get you started.
  2. How I Started My Online Stock Trading Activities – This Multiply Blog describes how you can start trading with minimal capital using BPITrade (more about that later).
  3. PinoyMoneyTalk.com – Learn the basics of the stock market. What is a stock? How do people make money? Or even more important, how do they lose money?
  4. Swing-Trade-Stocks.com – Probably my favorite site about stocks. It details one strategy that offers low risk with reasonably good returns (Swing Trading). The author writes very clearly and is very easy to understand. I recommend that you read this if you want to start with stocks.

CitisecOnline

The first thing you do after deciding you want to get into the stock market is to choose a broker. A broker (like Will Smith’s character) is a person (usually a whole bunch of them) who will file your buy and sell orders for you. These are the guys you’ve seen in movies shouting and waving at each other on the market floor. It’s a bit expensive to hire a live broker (an actual person) to trade for you. Especially for guys like me with only a little money to start with. The Internet to the rescue!

I decided that an online broker is more to my liking. You just need a computer and a connection to start filing your orders. After reading #2 on my links, I though I should open an account with BPITrade since I already have a BPI bank account and the starting money (5000Php) is so small. After a little more research, I quickly discovered that a lot of people don’t like BPITrade and besides the small starting capital, there really isn’t any reason to choose this broker. I also tried their test account and the user interface is archaic html or something. It sucked.

Just a few days after that, a friend of mine texted me if I wanted to go to this free seminar by CitisecOnline about starting in the stock market. He had absolutely no knowledge of my sudden interest on the market and I guess the timing was pure coincidence. He basically heard it from a friend, who also heard it from a friend. So we went to the seminar which is housed in the same building as the PSE in Ortigas. The seminar is FREE and there is no obligation to start an account. Plus, they give you free drinks (C2) and Dewberry biscuits.

Citisec Banner

After the seminar, we opened a free 7-day trial account to test out their services. You can go ahead and do that by heading on to their website and clicking the trial account button in the login page. Their site is so much better than BPITrade and considering that this is where you’ll be doing most of your trades, user-friendliness is definitely a priority.

Once the 7-day trial was over, my friend and I decided that it was time to start with real money. It takes 25,000Php to start an account with them. Note that this is usable capital. It’s what you use to buy stocks. It isn’t payment, so you still own that money.

But wait!!! They also have a student discount (if your a student in a university or something, even gradschool), wherein you can start with just 5,000Php! How’s that for small capital?! Good thing we already went to the seminar so we had application forms and everything. We just had to file our requirements and come up with the money.

Click here to read Part II of this post.

(If you have questions, just post a comment)

Tuesday, October 6, 2009

Paypal runs safe payment site?




Friday, September 18, 2009

Paypal runs safe payment site?

I just sent in this query to paypal customer support. As usual, I know they wont answer, or would provide some 'stock' answer that doesnt answer my question at all.

I just got this email about subscription payment I created on August 18, 2009. Note there is no transaction ID mentioned so I could refer to it.
-----------------------------------
Payment Details
-----------------------------------
Subscription name: L MOHAN ARUN
Transaction date: Sep 18, 2009
Transaction time: 05:10:18 PDT
Funding source: Credit Card
Subscription number: S-9X709443WG8575057

Now it says Funding source: Credit card. Now I want it to take funding from my paypal balance, not from credit card, and there is no option seemingly to change from where the subscription is taking funding from, in thesubscription details screen. Also note that "MY ACCOUNT" screen that appears after I log in to Paypal is NOT showing this subscription payment made! (that is, $5 made on 18 sep 2009) isnt this subscription payment part of 'recent activity' and it should show in my 'all account activity'?

A few months ago, I sent another query to paypal about I am not getting payment received email when one particular person sends me money. Always. I didnt receive any response to that till date.

After these kind of experiences with Paypal, I conclude that Paypal is not good at handling ecommerce and safe payments if they are so lax about not providing meticulous details about everything and anything when it comes to money matters.

Maximum ATM Cash Withdrawal Amount per Day in Philippine ATM/Cash Machine

http://paetechie.blogspot.com/2008/07/maximum-atm-cash-withdrawal-amount-per.html

I usually get queries on why i advocate using your own bank's ATM for cash withdrawals and other transactions to avoid transaction charges. This time, I read about a complaint from a foreigner complaining about the P4k limit on ATM withdrawals. Note that since he's withdrawing from his account held in a foreign bank, he'll incur more charges if he needs more than P4k. I suggest he use BancNet ATMs that allow at least P10k per transaction that costs one third transaction fees (you need to transact three times in ATMs of Megalink and ExpressNet thereby incurring three times more charges.

For local bank accounts, you can withdraw your money from the ATM with the following limits:

Allied Bank 20K
Asia United Bank 100K
Banco de Oro
Banco Filipino 20K or 5x withdrawal
Banco San Juan 20K
Bank of the Philippine Islands (BPI) P20K
Centennial Bank 20K
China Bank 20K (combined w/ POS & IBFT)
Chinatrust Bank 50K
Citibank 150K
Citibank Savings Bank 150K
Citystate Savings Bank 20K
East West Bank 50K (combined w/ IBFT)
Export Bank 40K
Green Bank 20K
Malayan Bank 20K
Metrobank Regular - 30K Special - 50K
NationLink 20K
OMB 20K
PBCom 20K
Philippine National Bank (PNB)
Philtrust Bank 20K
Postal Bank 20K
PSBank Gold - 50K Regular - 30K
QCRB 20K
RCBC 50K (combined w/ IBFT)
RCBC Savings Bank 50K (combined w/ POS & IBFT)
Real Bank 20K
Security Bank Reg. Card - 40K (combined w/ IBFT)
Cashlink - 40K (combined w/ IBFT)
Sterling Bank 40K
Standard Chartered Bank 100K
Tong Yang Bank 50K
Union Bank
World Partners Bank 20K

Notes:

Data on other banks to follow once available

POS = Point-of-Sale

For BPI, you need to withdraw the P20k at the ATM before withdrawing over the counter.

Limits are imposed by the card issuing bank (where the account is)

BancNet currently allows at least P10k per transaction for member banks. Megalink and ExpressNet lowered this to P4k.

Should you need to withdraw more than P4k, transact at your own bank's ATM, BancNet then Megalink/ExpressNet, in that order of preference (particularly for those using VISA and Mastercard cash advances and Plus, Cirrus, Maestro ATM cash withdrawals from US or foreign banks.


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6 Comments:

At July 28, 2008 7:40 AM, Blogger JayAshKal said...

I have long ago stopped withdrawing cash from ATM account. not that I don't have anymore cash to withdraw (that's partly the reason! hehehee.). I just use my credit card whenever I can, I do get points BUT one has to be really discipline (I am not!) to pay the balance as you go along, otherwise this will negate the benefits of paying via credit cards. At the end of the month or by visiting my online account I know and can see a running total of what I've been spending on. Obviously it's not that you can always pay via credit all the time. Great post!

At July 28, 2008 10:04 PM, Blogger tutubi said...

jayashkal, credit is good if you can handle it. not for all people though and not all merchants accept cards

At August 3, 2008 2:31 PM, Anonymous juler said...

they are implementing withdrawal limit to insure their(bank) cash position will not be prejudice.

This way they can have time to invest the extra money to investments which ROI is greater than the bank interest rates. Pretty smart isn't it?

btw, i just added your blog..

keep on blogging and good day.

At August 3, 2008 2:49 PM, Blogger tutubi said...

juler, it's alsopart of risk assessments. my contact mostly from Audit group was the one adamant on the P20k limit without even thinking of inflation :(

At February 27, 2009 8:15 PM, Anonymous Anonymous said...

Hi all... Can somebody help me??? I need to know if Allied Bank accepts Maestro card as I am thinking to send my maestro card to my mum in philippines. It is so expensive to send money via Western union. Thanks!!!

At March 1, 2009 11:20 AM, Anonymous paetechie said...

anonymous, afaik, Allied bank does not accept maestro. i've only seen the maestro logo on Metrobank and BPI atms. not sure about the others for i always transact at my own banks' atms (chinabank and BPI)

ATM Charges in the Philippines: BancNet, Megalink, Expressnet, Mastercard, Cirrus, Maestro, Visa, Plus, JCB, China Union Pay


Updated ATM charges per transaction in the Philippines:

Balance Inquiry Transaction Fee:

On-us/proprietary: Free
Interbank (switched by BancNet: P1
Megalink: P1 (see note below)
ExpressNet: None
Cirrus/Maestro: $1
Plus: $1

Banks who charge P2 balance inquiry fee: PNB, UnionBank, Bank of Commerce, One Network Bank, Equitable PCI Bank, Equitable Savings Bank, LBC Bank

ATM Cash Withdrawal Transaction Fee

On-us/proprietary: Free
Interbank (BancNet, Megalink, Expressnet): P8 to P12.50

Banks with highest charges: OMB (P12.50), UnionBank (P12), UCPB (P11), Bank of Commerce (P11), PNB (P11), UCPB (P11)

Banks with no charge: Citibank, Citibank Savings, HSBC

Cirrus/Maestro: $3.5
Plus: $3.0
(these rates apply also to ATM transactions abroad)

ENCASH ATM Cash Withdrawal: add P25 or P45 convenience fees on top of normal transaction charge (there is a warning screen for this)

Nationlink ATM Cash Withdrawal: add P20 convenience fees on top of normaltransaction charge (there is a warning screen for this)

Note there is a maximum amount per withdrawal for switched transactions of P10,000.00 via BancNet or Megalink. BPI recently lowered this to P5,000.00. For on-us/proprietary transactions, the issuing bank's set amount is applied.

Fund Transfers via ATM Fee

On-us/Proprietary (if available): Free
Interbank (BancNet) : P25 (real time credit)
Interbank (Megalink): P25 (next day credit)


* called IBFT by BancNet, short for Interbank Funds Transfer

Bills Payment via ATM Fee

This service is free to all cardholders. It's the biller institution who pays the processor the fees per transaction.

Cash Advance Fees

Using credit cards to withdraw cash on ATMs (funds subject also to interest rates)
VISA, Mastercard: P300 or 3% of amount whichever is higher
American Express (AMEX): 5% of cash advance or P500 whichever is higher
Diner's Club: 5% of cash advance amount or P250 whichever is higher

Many ATMs in the Philippines eg.g BPI (Bank of the Philippine Islands), Metrobank and PSBank accept VISA/VISA Electron/Plus, Mastercard/Cirrus/Maestro where their logos are displayed

American Express is accepted at BPI ATMs

China Union Pay (CUP) cardholders can inquire balance and withdraw funds from BancNet ATMs plus shop using BancNet Point-of-Sale (POS) which is similar to BPI EPS and ECN. No information yet on the charges.

No update yet whether Japan's JCB will interconnect with a local ATM consortium.
Cirrus and Maestro are affiliated with MasterCard; Plus is a VISA affiliate.

Using your Philippine-issued ATM card abroad is only possible for Cirrus, Maestro, and Plus affiliated banks (e.g. BPI International for Cirrus/Maestro). Inquire at your own bank for details.

How to avoid ATM transaction Charges in the Philippines:

1. Transact only at your own bank's ATMs
2. Open an account at Citibank, Citibank Savings or other banks that do not charge ATM withdrawals and account balance inquiries to their cardholders.
3. Open an account at a bank with an ATM near your place.
4. Do not put your money in the bank, invest it some place else :P

Note that transaction charges can be thought of as convenience fees; you pay the charges instead of wasting your time and spending money on fares/gas going to your own bank's ATMs.

ExpressNet Member Banks (5):
Bank of the Philippine Islands (BPI), BPI Family Bank, Land Bank of the Philippines (Landbank, LBP), Hong Kong Shanghai Bank (HSBC), HSBC Savings

BancNet Member Banks (31):
Allied Bank, Asia United Bank (AUB), Banco Filipino, Banco San Juan, CentennialSavings Bank, China Banking Corporation (Chinabank), Chinatrust Bank, Citibank, N.A., Citibank Savings Bank, Citystate Savings Bank, East West Bank, Export and Industry Bank (Exportbank), Green Bank of Caraga, Malayan Bank, Manila Bank, Merchants Bank, Metrobank, Opportunity Microfinance Bank, Philtrust Bank, Philippine Bank of Communications (PBCOM), Postal Bank, PSBank, Quezon Capital Rural Bank (QCRB), Real Bank, Rizal Commercial Banking Corporation (RCBC), RCBC Savings Bank, Security Bank, Standard Chartered Bank, Sterling Bank of Asia, Tong Yang Savings Bank, World Partners Bank

Megalink Member Banks:
AsiaTrust Bank, Banco de Oro (BDO), Pacific Ace Bank, Bank of Commerce, Philam Savings Bank, Development Bank of the Philippines, Philippine National Bank (PNB), Equitable PCI Bank, Philippine Veterans Bank, Equitable Savings Bank, Premiere Development Bank, Insular Savings Bank, Prudential Bank, International Exchange Bank (iBank, now part of Unionbank), Queen City Development Bank, Keppel Bank Philippines, Robinsons Savings Bank, LBC Bank, Union Bank of the Philippines, Maybank Philippines, United Coconut Planters Bank (UCPB), Pacific Ace Savings Bank

Nationlink Member Banks (A member of BancNet):
National Confederation of Cooperatives (NATCCO), Kaunlaran Bank, Kaunlaran Rural Bank of Manaoag, Optimum Development Bank, Malasiqui Rural Bank, Community Rural Bank of Dapitan, Metro Ormoc Community Cooperative (OCCCI)

ENCASH Member Banks(A member of Megalink):
Rural Bank of FloridaBlanca, GM Bank, Bangko Kabayan, Rural Bank of Tiaong, Progressive Rural Bank, Rural Bank of Puerto Galera, Cantillan Bank, First Valley Bank, Rural Bank of Calasiao, Balai Isabel, GM Bank, Jose Panganiban Rural Bank,
Rural Bank of Nabua, G7 Bank

You may visit your bank's website for ATM locator service to know where to find ATMs in the Philippines. For example, in Boracay, there are ATMs by Metrobank, Allied Bank and BPI.

eBay: Do's and Don'ts for Beginning eBayers, 2009 8 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_8.htm

eBay Don't #4: Don't Bid Over Your Head.

(continued from previous page)

Shopping online can be a lot of fun, providing it doesn’t get you in financial hot water. eBay, in particular, comes with all the convenience of finding just about anything you can think of without having to physically travel the world for it.

Bidding, like gambling, can become addictive. Whether it’s one large bid, or several small ones, the total can quickly add up. Remember, you are also expected to pay for any and all shipping, handling, and insurance costs associated with winning an auction. Unless “money is no object”, don’t spend your next month’s mortgage payment on that cute Prada just because it’s here now. “Buyer’s remorse” doesn’t work on eBay!

So the biggest Don't of all: be brutally truthful to yourself about how much money you can afford to spend on that eBay item!

eBay: Do's and Don'ts for Beginning eBayers, 2009 7 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_7.htm

eBay Don't #3: Don't Rush to Negative Feedback.

(continued from previous page)

The vast majority of eBay sellers want your buying experience to be a happy one, but sometimes, things go awry.
Shipping delays are the most common issue, especially if your item is mailed to you from very far away. Cross-border inspections are also about everyone’s safety, and not just to inconvenience you.

The more borders to cross, the longer it may take before you receive your goodies. Many new eBayers fail to recognize this and rush in to leave a negative Feedback for the seller only to regret it the next day when their purchase arrives. Although the actual Feedback message can be mutually withdrawn, the statistics will show there was an unfavorable Feedback left before. These statistics can make any future sales, or purchases, very difficult.

Again, Feedback is forever, and a little patience goes a long way. If you believe there is an undue delay in receiving your goods, contact the seller. If your package is indeed lost, many sellers will offer to replace the item, or issue a refund.

eBay: Do's and Don'ts for Beginning eBayers, 2009 6 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_6.htm

eBay Don't #2: Don't Engage in Bidding Wars.

(continued from previous page)

Bidding wars won't work for you, unless you are the seller. Often, the seller sets the starting price extremely low to entice as many buyers as possible. The buyers start bidding high and often, which starts the “bidding war”, a frenzy of over-excited buyers.

This behavior is common amongst eBay newbies who are yet to learn when to keep bidding, and when to let it go. Quite often, seconds before the auction closes, a patient veteran buyer will outbid the novices by mere pennies.

If you are bidding on a rare, hard to find article, it’s understandable you might be willing to bid high. Sometimes, it’s the only way you can win it. Other times, with a little patience and research, you could find another auction for a similar item, at considerably lower price. The feeling of victory is much stronger if you win the auction without breaking the bank.

So the tough lesson here is to show restraint and patience... and to learn how to bid in the last minutes of the auction.

eBay: Do's and Don'ts for Beginning eBayers, 2009 5 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_5.htm

eBay Don't #1: Don't Bid Without First Reading the Ad Carefully.

(continued from previous page)

Once in a while, we all come across something we just can’t pass up. Perhaps you just found that awesome mp3 player you’ve always wanted. The bid is only a dollar, and there is only one mp3 player available. What do you do?

The reflex reaction would be to bid immediately. Wrong! Correct action is to carefully read the listing, including all information on shipping and handling costs, method of payment, etc.

Some sellers deliberately list an expensive, sought-after item for cheap to catch the novice buyer off guard. Grossly overpriced shipping and handling charge is where they get you, if you’re not careful! This underhanded trick operates just within the boundaries of eBay policy... and this trick punishes the lazy user who forgets to read the full ad.

eBay: Do's and Don'ts for Beginning eBayers, 2009 4 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_4.htm


eBay Do #4: Tell the World When You Are Happy.

(continued from previous page)

The power of Feedback is enormous – it can make or break a seller, or a buyer. It is the single, most comprehensive, word of mouth “performance review” of every eBay member. If you feel your transaction went smoothly, be sure to say it with Feedback. Remember, eBay Feedback is forever!

It takes time and hard work to earn, and keep, a perfect Feedback. If you are not so happy with how things went, contact the seller first. Most sellers do care a whole lot about making sure their buyers are satisfied, and will do their best to rectify the problem.

eBay: Do's and Don'ts for Beginning eBayers, 2009 3 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_3.htm


eBay Do #3: Be Courteous and Polite at All Times.

(continued from previous page)

Have you been outbid by the same buyer 5 times in a row? Still waiting for the seller to reply to a question you sent 3 days ago? It happens. It can be irritating. It’s enough to make some people start sending angry messages, or post nasty comments on the eBay Forum. Don’t let this happen to you.

Remember, a little patience does go a long way. Maybe the seller’s email did not work. Re-send the question. As for the buyer who keeps winning “your” auctions, examine the bids. Are you always losing by a tiny amount just seconds before the auction end? Sounds like a “sniping” software in action. Yes, it’s completely legal, and it can be very effective. Give it a try, or set a higher maximum bid.

eBay: Do's and Don'ts for Beginning eBayers, 2009 2 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts_2.htm


eBay Do #2: Play by the Rules and Obey the Law.

(continued from previous page)

It is to your advantage to know which items are prohibited, questionable, infringing or potentially illegal. Whether you are buying or selling, you need to familiarize yourself with a number of regulations concerning the nature of the item up for bid. The item you could be bidding on might be perfectly legal in seller’s country but prohibited in yours.

Examples: crossbows, DHEA supplements, swords, animal products.

Other times, the item is legal to own anywhere but there might be some
restrictions in ways of sending it across the border.

Examples: perfumes in pressurized containers, cigarette lighters.

Once in a while, you might come across an auction of an item prohibited by eBay authorities. Whether or not such item is legal, is irrelevant. The article should not be listed on eBay at all.

Examples: glow sticks, fireworks, human body parts.

For a comprehensive list of what can, or cannot, be listed on eBay click the eBay “Help” link and enter “prohibited items” in the search box.

To avoid having confiscation of the goods by customs, find out beforehand if they can be shipped without breaking the law.
Remember, if the item is confiscated, you are not entitled to a refund.

eBay: Do's and Don'ts for Beginning eBayers, 2009 1 of 8

http://netforbeginners.about.com/od/ebay101/ss/ebay_dos_donts.htm
posted 2009 august


eBay Do #1: Ask Questions.

(August, 2009: special thanks to guest eBay author, Joanna Gil, for this list. This is part of the Become a Power eBayer reference series.)

Never place a bid, or “Buy it now”, without a careful examination of the auction first.

Make sure you know exactly what it is that you’re bidding on at eBay. This may sound like common sense, but it's amazing how many new eBayers lose themselves in the excitement, they forget to pay attention to the details..

Be aware of any conditions the eBay seller might have placed in the ad. These could include: method of payment, shipping and handling cost, amount of time before item will be mailed out, or any extra costs such as taxes or duties, etc. Also, when it comes to an article of clothing, or shoes, make sure to note the size, color, fabric, finishing, any possible flaws, wear and tear, or damage. This is especially important if the item is “used”, “pre-loved”, or “vintage”.

If there is anything you are not quite sure of, get more information from the eBay seller before you bid. You can do it by clicking “Ask seller a question”, either on the right-hand side or near the bottom of the listing.

The vast majority of sellers encourage potential buyers to ask as many questions as necessary to help them make an educated buying decision.

Since you cannot examine the item in person, you have to rely on the information provided by the seller. After all, once you place a winning bid, you are obligated to complete the transaction.

Glossary of Internet Abbreviations: Email and Chat Shorthand!



The strange world of internet shorthand and acronyms.

IMHO In My Humble Opinion

TTYL Talk To You Later

PMSL P*ssing myself laughing (a common UK expression)

RTFM Read The F------ Manual

ROFLMAO Roll On Floor Laughing My A** Off

ITSFWI If The Shoe Fits, Wear It!

BFF Best friends, forever!

WIBAMU Well, I'll be a Monkey's Uncle!

POSSLQ Person of Opposite Sex, Sharing Living Quarters

Yes, Internet users will write email, discussion group, and chat room postings using these abbreviations. It is particularly helpful to people who are not strong typists.

These abbreviations are fun ways to add personal flavor to your email and online discussion postings. What's really amazing is the depth of Internet vocabulary that has been built up over the years. Take a look at this Internet Abbreviations Glossary, and see for yourself...

Part 2A: The Most Common Internet Abbreviations:
Reminder: 90% of the time, these expressions are typed in all lowercase letters. On selective occasions, you are welcome to use them in all capitals to express enthusiasm. Just remember not to type entire sentences in all caps, lest you be considered rude.

BRB – be right back
BIO – going for bio break (washroom break)
AFK – away from keyboard (I am gone for a few minutes)
BTW – by the way
KK – OK (commonly used by online gamers to acknowledge that a message has been received)
TTYL – talk to you later
BFN – bye for now
TTFN – ta-ta for now
BFF – best friends, forever
DH – darling husband
CYA – see ya (or it could also be: cover your a*s)
CUL8R – see you later
IBTL – in before the lock (for when you post a message prior to the administrator locking the heated discussion thread)
IMHO – in my humble opinion
IMNSHO – in my not so humble opinion
FMV – fair market value (for selling items online)
LOL – laughing out loud
MT – mistell (commonly used by online gamers to say that they made a mistake and mistyped their last message)
NWT – new with tags (for selling items online)
NWOT – new without tags (for selling items online)
OOAK – one of a kind (for selling items online)
PMSL - P*ssing myself laughing (a common UK expression)
QFT – quoted for truth (a compliment to another person on the forum)
ROFL – rolling on floor laughing
ROFLMAO – rolling on floor laughing my a*s off
RTM – read the manual
RTFM – read the f***ing manual (to show frustration at someone's ignorance of basic knowledge)
GG – good game
THX - thanks
TX - thanks
TY - thank you
NP - no problem/you're welcome
PLZ - please
W/E - whatever
ASL – age / sex / location?
RL – real life
IRL – in real life


More acronyms follow below, and on the next two pages.


Part 2B: A Longer List of Internet Abbreviations:

.02 My two cents worth.
the speaker chuckles
the speaker is frowning
Grin
the speaker is grinning
the one writing the message is smiling
the one writing the message is smirking
the one writing the message is winking
JK Just Kidding
? I have a question
! I have a comment
A-OLs Administrators On-Line
AAMOF As A Matter Of Fact
AFAIK As Far As I Know
AFK Away From the Keyboard
AISI As I See It
ASAP As Soon As Possible
ASL Age, sex, location
ATSL Along The Same Line
AWHFY Are We Having Fun Yet?
AYOR At Your Own Risk
B4N Bye For Now
BAK Back At Keyboard
BBFN Bye Bye For Now
BBL Be Back Later
BF Boy Friend
BFN Bye For Now
BIF Before I Forget
BION Believe it or not
BOT Back On Topic
BRB Be Right Back
BTAIM Be That As It May
BTHOM Beats The Hell Outta Me
BTOBD Be There Or Be Dead
BTW By The Way
BWL Bursting With Laughter
BYKT But You Knew That
BYOB Bring Your Own Bottle
CMIIW Correct Me If I’m Wrong
CU See You
CU2 See You, Too
CUL See you later
CUL8R See You Later
CWYL Chat With You Later
DIIK Damned If I Know.
DIKU? Do I Know You?
DILLIGAD Do I Look Like I Give A Darnn?.
DIY Do It Yourself
DK Don’t Know
F2F Face To Face
FCFS First Come, First Served
FISH First In, Still Here
FITB Fill In The Blank
FOAD F*** off and die
FOAF Friend Of A Friend
FS For Sale
FTASB Faster Than A Speeding Bullet
F2F Face to Face
FTF Face To Face
FTL Faster Than Light
FUBAR Fouled Up Beyond All Repair
FUBB Fouled Up Beyond Belief.
FUD Fear, Uncertainty and Doubt
FURTB Full Up Ready To Burst
FWIW For What It’s Worth
FYA For Your Amusement
FYI For Your Information
G Grin, or Giggle
G2G Got to Go
GA Go Ahead
GAL Get A Life
GD&R Grinning, Ducking and Running
GF Girl Friend.
GFN Gone For Now.
GIWIST Gee, I Wish I’d Said That
GLGH Good Luck and Good Hunting
GMTA Great Minds Think Alike
GOWI Get On With It
GTG Got To Go
GTSY Great To See You
H&K Hugs and Kisses
HAK Hugs And Kisses
IAC In Any Case
IAE In Any Event
IANAL I Am Not A Lawyer (but) A disclaimer which is usually followed by a legal opinion
IAW In Accordance With
IBTD I Beg To Differ
IC I See
IDK I Don't Know
IIWM If It Were Me
IJWTK I Just Want To Know
IJWTS I Just Want To Say
IKWUM I Know What You Mean
IMA I Might Add
IME In My Experience
IMHO In My Humble Opinion
IMNSHO In My Not So Humble Opinion
IMO In My Opinion
IMPOV In My Point Of View
INPO In No Particular Order
IOW In Other Words
IRL In Real Life
ISS I’m So Sure
ISSYGTI I’m So Sure You Get The Idea!
ISWYM I See What You Mean
ITFA In The Final Analysis
ITSFWI If The Shoe Fits Wear It.
IYSWIM If You See What I Mean
JAM Just A Minute
JAS Just A Second
JFI Just For Information
JIC Just In Case
JMO Just My Opinion
JTLYK Just To Let You Know
k Okay
KISS Keep It Simple, Stupid
KIT Keep In Touch
KMA Kiss My A**
KWIM Know What I Mean?
KYFC Keep Your Fingers Crossed

L Laugh
L8R Later
LABATYD or LAB&TYD Life's A B**ch And Then You Die
LJBF Let’s Just Be Friends
LLTA Lots and Lots of Thunderous Applause
LMAO Laughing My A** Off
LMHO Laughing My Head Off
LOL Laughing Out Loud
LSHMBH Laughing So Hard My Belly Hurts.
LTHTT Laughing Too Hard To Type
LTNS Long Time No See
LTNT Long Time, No Type
LTS Laughing to Self
LY Love You
MEGO My Eyes Glaze Over
MLA Multiple Letter Acronym
MOF Matter Of Fact
MOSS Member Of Same Sex
MOTAS Member Of The Appropriate Sex
MOTD Message of the day
MOTOS Member Of The Opposite Sex
MOTSS Member Of The Same Sex
MTFBWY May The Force Be With You
MYOB Mind Your Own Business
NAVY Never Again Voluneer Yourself.
NBD No Big Deal
NFW No Friggin' Way!
NHOH Never Heard Of Him/Her
NOYB None Of Your Business
NP No Problem
NQA No Questions Asked
NTIM Not That It Matters
NTW Not To Worry
NTYMI Now That You Mention It
NWT New With Tags (for selling items online)
NWOT New Without Tags (for selling items online)
OATUS On A Totally Unrelated Subject
OAUS On An Unrelated Subject
OB Obligatory
OBO Or Best Offer
OBTW Oh, By The Way
OIC Oh, I See
OMG Oh My God
ONNA Oh No, Not Again
ONNTA Oh No, Not This Again
OO Over and Out (end of communication)
OOTC Obligatory On-Topic Comment
OTF On the Floor (laughing)
OTFL On the Floor Laughing
OTL Out To Lunch
OTOH On The Other Hand
OTOOH On The Other Other Hand
OTT Over The Top
OTTH On The Third Hand
OTTOMH Off The Top Of My Head
PABG Packing a Big Gun
PCMCIA People Can't Memorize Computer Industry Acronyms
PD Public Domain
PDS Please Don't Shout.
PITA Pain In The A**
PMBI Pardon My Butting In
PMF Pardon My French or Pure Freaking Magic.
PMFBI Pardon Me For Butting In
PMFJI Pardon Me For Jumping In
PMIGBOM Put Mind In Gear, Before Opening Mouth
PMJI Pardon My Jumping In
PMSL P*ssing Myself Laughing (a common UK expression)
PNCAH Please, No Cursing Allowed Here
POSSLQ Person Of Opposite Sex Sharing Living Quarters
PPL People
PTMM Please Tell Me More
R U THERE? Are you there?
RAEBNC Read And Enjoyed, But No Comment
re Hello again or In Regard To
RHIP Rank Has Its Privileges
RL Real Life
RLCO Real Life Conference
ROFL Rolling On Floor Laughing
ROFLAS Rolling On Floor Laughing And Screaming
ROFLMAO Roll On Floor Laughing My A** Off
ROTF Rolling On The Floor
ROTFL Rolling On The Floor Laughing
ROTFLMAOTID Rolling On The Floor Laughing My A** Off Till I Die
ROTFLOL Rolling On The Floor Laughing Out Loud
ROTFLOLAPMP Rolling On The Floor Laughing Out Loud And Peeing My Pants
ROTFLTIC Rolling On The Floor Laughing Till I Cry
RRQ Return Receipt Request
RSN Real Soon Now
RSVP Respondez S'il Vous Plait - please reply
RTBM Read The Bloody Manual
RTFAQ Read The Frequently Asked Questions
RTFF Read The Freaking FAQ
RTFM Read The F------ Manual
RTM Read The Manual
RTWFQ Read The Whole Friggin' Question
RYFM Read Your Friendly Manual
RYS Read Your Screen
S Smile
SAPFU Surpassing All Previous Foul Ups
SCNR Sorry, Could Not Resist
SEC Wait a second
SFLA Stupid Four Letter Acronym
SICS Sitting In Chair Snickering
SLM See Last Mail
SMOP Small Matter of Programming
SNAFU Situation Normal: All Fouled Up
SO Significant Other
SOL SH** Out Of Luck
SOS Same Old Stuff or Help!
SOW Speaking Of Which
SWIM See What I Mean?
TAFN That’s All For Now
TANJ There Ain’t No Justice
TANSTAAFL There Ain’t No Such Thing As A Free Lunch
TARFU Things Are Really Fouled Up
TBYB Try Before You Buy
TDM Too Darn Many
TFS Three Finger Salute (Ctl-Alt-Del).
TFTHAOT Thanks For The Help Ahead Of Time
THX Thanks
TIA Thanks In Advance
TIC Tongue In Cheek
TINWIS That Is Not What I Said
TNSTAAFL There's No Such Thing As A Free Lunch
TNTL Trying Not To Laugh
TNX Thanks
TNXE6 Thanks A Million
TOBAL There Oughta Be A Law.
TOBG This Oughta Be Good.
TOY Thinking Of You.
TPTB The Powers That Be
TRDMC Tears Running Down My Cheeks.
TSR Totally Stupid Rules.
TTBOMK To The Best Of My Knowledge

TTFN Ta Ta For Now
TTYL Talk To You Later
TTYT Talk To You Tomorrow.
TYCLO Turn Your CAPS LOCK Off
TYVM Thank You Very Much
UOK Are You OK?
WAEF When All Else Fails
WB Welcome Back
WDYMBT What Do You Mean By That?.
WDYT What Do You Think?
WE Whatever
WIBAMU Well, I'll Be A Monkey's Uncle
WIBNI Wouldn’t It Be Nice If
WMMOWS Wash My Mouth Out With Soap
WNOHGB Where No One Has Gone Before
WOA Work Of Art
WOTAM Waste Of Time And Money
WRT With Regard To, or With Respect To
WT Without Thinking
WTB Want To Buy
WTF What The F***?
WTG Way To Go!
WTGP Want To Go Private?
WTH What the hell?
WTTM Without Thinking Too Much.
WYGISWYPF What You Get Is What You Pay For
XOXOXO Kisses and hugs
YABA Yet Another Bloody Acronym
YAOTM Yet Another Off-Topic Message
YAUN Yet Another Unix Nerd
YGLT You're Gonna Love This
YGTI You Get The Idea?
YGWYPF You Get What You Pay For
YIU Yes, I Understand
YIWGP Yes, I Will Go Private
YKYARW You Know You're A Redneck When
YMMV Your Mileage May Vary (or your experience could be different)