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.

You mean UK regulation are much more taking care for the clients?

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!

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Added on January 17, 2010, 8:46 pmanybody using oanda live acccount ... is the live chart similar to the demo account  as i wonder whether they have the chart for stochastic or rsi. i am learning but i could not find in oanda demo account..... thought want to practise what i read in baby pips....

In general I think so. I have not read in depth about it. But just looking at the surface alone I can see there is a lot better than what US ones now.

take an example that Uk requires client fund ACC to be segregated, so in the event the broker get into debt issue. Their liability cannot touch Client's fund. *it is more or less something like that as I only read the surface.

To make it even worst, FIFO = means no SL, and then hedging is not allowed in FX for US. I cant see a reason why I shouldnt move away from US.  No SL are you kidding me!? With our not so reliable internet line/power line I cant seem to imaging trading without SL. It is a suicide!

No hedging is also one of the major disadvantages for some trading tactics that some user used.

with all that, u tell me how does US be any better than UK?

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thank you,  thank you so much,.... i understand better now...

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Added on January 17, 2010, 8:46 pmanybody using oanda live acccount ... is the live chart similar to the demo account  as i wonder whether they have the chart for stochastic or rsi. i am learning but i could not find in oanda demo account..... thought want to practise what i read in baby pips....

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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

When you withdraw funds from your trading account back to your malaysia bank, did the bank phone you or ask you the purpose of this fund?

If yes, how you gonna tell them? Forex trading?

My bank , EON bank doesn't ask me whats the purpose of the fund. When they call up, I just tell them the amount and its from FX Direct Dealer (FXDD), to confirm with the bank that its my money.

The  bank won't do anything or retain the funds when you told them is from forex?

I dont say its from forex. I just tell them the amount and its from US, then it will be ok.
I think if money come in Malaysia, banks wont ask unless u send money out.

lemme give free emotion management tips, have you ever heard people say... "when I play demo.. i make money... when i play live.. I lost money"... its because you are afraid of losing your money on your live acct it effects your judgement/strategy.. the trick is to open a demo and live acct with same margin... trade both.. your subcon-mind wont know which one is real which one is demo.. it will make it easier with one less thinking/worries.. soon you will realize you dont worry that much anymore... then comes the next problem.. greed.. next tip maybe one day...

Oanda had Stoc n RSI, it is similar to the demo u using.. bt if u want more sophisticated indicator oanda only hv the simplest n easy to use ones..

he he he... sorry again but i still don't know where to find the stochastic and rsi button.... can show me ka?