U activated ur acc d? lol, u counter trend trade? 1st trade always like tat, must get used to it..use money management rule pls..

news coming out.. so be cautious..

Nice pips everyone today? Have a nice weekend~!

Looks like US is interested to move large amount of money out of US by pissing of these foreign investors like us.

Just my opinion. If you are in KL/PJ, the best bookstore for Forex and trading book is Kinokuniya in KLCC. Next is MPH, Midvalley and then Borders, the Gardens. Generally the best arranged is in Kinokuniya. You should look in the Forex section for specific Forex books, the trading/investment section for general trading books and the section on Technical Analysis (not sure the name of the section, but all around the same area.) Though the general trading and technical analysis books are not specifically for Forex, most of the contents are applicable to Forex.
But as pointed out by many, you can get free Forex information from the internet but for those who must hold a book to be comfortable, you can browse in the bookshops mentioned.

But if you dont wanna pay for the book, and juz wish to read it. Go for any Borders, there is alot of seat provided for you. And juz spend your afternoon sitting there and reading. (Can even take the book the starbuck/coffebean for reading)

MPH in one U also provide seating.

Anybody here uses fxcm? using their demo now seems like they cant customise their unit size, only the ones provided(e.g 1k, 2k, 3k). Hope their real acc is not like tat.. >.<

This post has been edited by Volatile369: Jan 16 2010, 01:21 PM

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the account is ready for funding.still playing the demo... always making pips... small and big... but yesterday chart i never counter before.... can give me some tips ka .... basic money management.... pleasseeeee

vinnijeyaa, i think u better browse few page back and read sleepwalker's post.. its been debate over and over again..

we r not buying or selling any CURRENCIES..

Simple, lets say the money in ur account is USD100. Always ask urself 'How much I can afford to lose within a trade?' There are many variations from person to person. Some ppl will trade not more than USD10(not recommended) for a trade, sum USD5, sum USD2 and sum USD1. So pick which one? Hw to identify? My rule of thumb is :

'IF THE TRADE GOES AGAINST YOU(STOPPED OUT), AND YOU CAN KEEP COOL AND LAUGH ON THE TRADE, THATS THE TRUE AMOUNT YOU ARE WILLING & CAN AFFORD TO LOSE!'

Do have a certain profit ratio for urself, for example, if ur trade is not more than 5 dollars of the 100 dollars capital, foresee the trade that can giv u a 10 dollars bill, or 2:1 ratio. (this vary from person to person)

Always have a calculator by ur side, to ease u from entering ur ideal amount u can lose for a trade. For example, in a trade if u can lose more than 2%, calculate USD100 x 2% = USD 2.. So only enter this trade not more than USD 2. The next thing u nd to do is calculate d pips, for example, if u r willing to lose 20pips only in a trade, calculate USD2/20pips = USD0.10 per pip.

Some ppl might say this amount is too little, but guess wat, trading is not about earning big in one shot, it is a slow process..=)

Hope this helps with ur trading on money management.. Gud Luck!

This post has been edited by Volatile369: Jan 16 2010, 08:13 PM

Dear all, who else is under USA forex broker MUST read this http://www.forexpeacearmy.com/forex-forum/...-forex-usa.html

The 10:1 leverage is a No No man..

you know because of that FIFO thing from last year regulation, I had move my Acc from US to UK. Not the mention Uk regulation are much stricter than the US one.

The US Gov is just making sure every major country that is not USA richer.

Forex is like a profession, meaning u nd to commit(at least 1st) to learn before u can master the trade! Ur doin an advertising company? great, u can start here: www.babypips.com, but make sure it does not affect ur main bread n butter..

But currently, i think is best not to venture in it at d moment due to some regulation problems from inside n outside the country.. Maybe in the mean time can learn d basics 1st..

This post has been edited by Volatile369: Jan 16 2010, 10:44 PM

I think the regulations in the country is quite ok d, just that sum r still doubtful of bnm's meaning of foreign exchange trading. The outside ones is US CFTC, a regulation body wants to turn retail forex up side down by introducing funny rules that is disfavoring the forex community n its brokers.


For more can refer to previous rstusa post or visit CFTC website..

This post has been edited by Volatile369: Jan 16 2010, 11:22 PM

shoot me.. even i traded for half year i dun even know wats exactly is FIFO.. =p

and i use uk broker from the begginning of my trading career..

FIFO= First in, first out (i think)
but dont know how it can be apply in forex trading ..

Which UK broker are you using? And which are some of the other reliable UK brokers that you know off? User experience will be a better guide on these brokers than what their websites say. Thanks.

heard CFTC is implementing leverage maximum of just 10:1 in forex retail.

crazy man!