ZA Online (HK 6060)A double bottom breakout formed, any retracement from this point can be considered an entry.
6060 trade ideas
SCAM ALERT - YUANPAYRead this website
Folks, it is sad that I am writing this to forewarn my followers and any visitors to my post about this so called investment.
1. Do not be fooled by any company that has a website. Anyone these days can register a website , bought off nice cool templates and make it looks "professional"
2. RUN with your life - when you hear low risk like invest $1 and get 400 times the returns , you run for your life ! DON"T LOOK BACK, DON"T THINK THRICE, JUST RUN AS FAST AND FAR AS YOU CAN ! That is my best advice. With the exception of lottery which is legalised in most countries, they work on the game of probabilities and are guaranteed by the state government to pay out.
How it works ? Simple - Collect enough $1 from a wide population and pay off a relatively high reward like $500,000 to $1,000,000 , the balance is their profits. The question is most would not settle for $1 , they will increase their stake to $50 or $100 hoping to increase their winning chance, right ? So only a certain % of people that buy , if buy will pay $1 and the majority (IMO) will pay more than $1 but the reward is already fixed at $500k or $1M to entice people to part their hard earned money.
Actually many businesses operate on this same mantra as well. Insurance company is one good example. Collect premium from many policy holders and based on the actuary calculations, only X% of people will passed away at this period of time. But the collection of premium and the investment from it will far outweigh the pay out. Again, premium can varies as agents peddle different products to suit your "needs" or wants.
YuanPay imo, is not something that I would want to read further, find out more. PERIOD. It stirs up the greed emotions in people , to entice them to part their money . To lure them out of their comfort zone by having all these testimonials saying how easy it is to make money. Just think for a second. If you can invest $1 and make 400 x and is a sure win, would you not sell your grandma and dogs for any cash to bet on it ?
Otherwise, where is the catch ? Not sure, don't know, suspicious ? Then, stay away ! No need to be a whistleblower or try to be the next Sherlock Holmes. Leave it to others to go find out , may be it will take years. These "entrepreneurs" are merely riding on the recent trend of the digital currency in China and trying to make as much money as possible.
In any investment, when there is no legal recourse, you have to dig hard and do your own homework coz if you cannot control your emotions, by the time you realised it is a scam, it may be too late.
Memories are short and people forget about their lessons , even very hard one like these :
www.asiaone.com
www.cnbc.com
timesofindia.indiatimes.com
www.channelnewsasia.com
www.straitstimes.com
You can see from traditional plantation scam in India to the latest ecommerce scam, these entrepreneurs/scammers are keeping up with the times. What has not changed ? The greed of human beings, wanting to make money easy and fast. And that itself motivates the scammers to set a trap for you.
A suitable bible verse here for our enlightenment -
1 Timothy 6:9-10 ESV /
But those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction. For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.
P/S - ZA online has nothing to do with this post I am writing but I need a chart before I can pen up this post. I am adding more on ZA Online.
ZA Online offering a discount with a descending wedge patternTake advantage of it !
As the middle income group grows and becoming more affluent, they would be more educated on the importance of having life insurance, setting aside money for retirement, procuring education plans ,etc for the families. The penetration rate is HIGH and thus we are only seeing the tip of the iceberg.
Long for the long term!
Investing is like swimming, the earlier you start ,the betterRead latest article here , here and here .
In many casual conversations with friends, I discovered there are still many who do not invest their money. And the few common reasons they give are :
1. Not earning enough money
2. With Covid-19 and the recession, it is better to park funds in bank
3. I have thought about it .....maybe someday
Of the 3, I thought the 1st reason was compelling. Afterall, if you earn little, you have little to save and lesser to tallk about investment. But that is a wrong concept to begin with. If we make a conscious effort to start saving a small amount a month, say, $50 consistently for 6 months, we will have $300.
With fractional units that one can buy in shares and micro and mini lots in Forex, one need less than $100 as working capital, really. Of course, the smaller your base, you are likely going to take a longer time to compound your returns.
Example :
a) 100,000 invested in Company A @ 5% returns will give you $5000
b) 100 invested in Company B at 50% returns will give you $50
Many think of option a) and think with $5000, it is a decent passive income and I can do this, pay this and that......so the attraction is there. But they forget the risk is also high ,ie, $100,000 invested. The market could go the other way and he lost $5000 as well.
And when option b) is presented, they are not the least excited as $50, being a nominal sum present little to no attraction. They choose to procrastinate , thinking there are other ways to make $50. And with that kind of thinking, they delay their decision to participate in the market.
Many choose to rely on their primary source of income - from their day job and fail to diversify until Covid-19 hit ! In a way, this virus is a wake up call as regardless of age, capabilities, this Covid-19 has wiped out thousands of jobs and more heads will be axed.....
Suddenly, the retrenched, suffered 50% pay cut or unemployed person wakes up and have to struggle with a new identity - who am I ? Without the job, they cannot pay the rent, the debts, the beautiful car they own, dinners and Netflix ,etc.
Think logically - banks worldwide are offering paltry to negative interest rates which means putting your hard earned money in banks is no longer a safe option.
Investors are spoilt for choices to the myriad of instruments made available from ETFs to commodities, futures , options ,etc. And there are tons of resources (FREE) available on the internet, books in library, etc.
Let not the size of your capital, your lack of knowledge, age, circumstances you are in to STOP you from investing. Some may tell you to start a business during this pandemic. My take is treat your investment as a form of business.
It is way cheaper than setting up a shop online be it Amazon, Ebay or Alibaba to sell. Once you have the products, you still have to market it aggressively to get customers. Then you have to take care of delivery and after-sales service and inventories hiccup , if any.
Investment - be it buying currencies or shares or gold, is very much straight forward. All records are kept with your broker, neat and concise by date, time, position size, profitability,etc.
You can operate conveniently from a laptop , Ipad or mobile phone.
But the best part which many businesses cannot offer you immediately IS :
There are READY pool of buyers and sellers. When you execute a long position in this company, ZA Online, within seconds, your order is filled, meaning a seller somewhere out there is willing to sell it to you. Could you say the same thing for your online/traditional shop ?
Another thing - millions and millions of people can long say, EURUSD currencies and there would still be available stocks to sell. We are talking about trillions and trillions worth of money in the currency market. That is liquidity. Never worry about finding a buyer or seller.
Time - the most valuable resource would be the most expensive item that you need to spend on. That is, for beginner, you need to study , gain knowledge, apply it on live trading account , build a strong system , manage your emotions (you get better over time), risk management, etc.
Thus, like swimming, the earlier you start, the more time you have to learn the skills. It is a lifeskill that can save your life in the case of swimming. Investment can offers you the financial freedom that many aspire but failed to obtain it because they keep doing the same thing over and over again.
Here's something to get you started :
1. Don't worry, enjoy life first , we are still young.......
2. Sowing and reaping
3. Help others in need
Not your traditional insurance playRead about this company here and here
I see a lot of potential in this company that leverages on tech to spearhead its business to the next level. As disposable income gets higher in China, more people will want to buy protection for their assets and plan ahead for the next generation to take over the business.
Already, China is at the forefront of digital transformation and insurance industry that still relies on the traditional of F2F meeting will find it hard to do business in this challenging time.
6060 (ZA online) Bullish Trend for Long Position6060 (ZA online ) is Insurance Tech in HK stock exchange
