http://www.fx360.com/commentary/kathy/1957...ng-crowded.aspx

If USD100 to deposit, use Maybank2u is very suitable, now the exchange rates is 3.5060.

USD100 x 3.5060 = RM350.60 + RM10 (Bank fees) = RM360.60

This post has been edited by rstusa: Sep 18 2009, 08:40 AM

How about the percentage for the investors who gain 15% or above per month on consistent basis?

I mean the current percentage that the investors involved in making profit 15% or above monthly consistently.

Anyone got info about GBP action and UK economy for next week?

Your friend is right!

Because they like to challenge, high risk financial product provide high return, and also greedy made them continue to trade with forex. Yes, RMB is one of the currency but not 100% open on the market.

Is it the latest news or old news? Anyway, thanx for the info!

Yes, CONSISTENCY very important. Let's say you start with capital USD1000 and gain 20% consistently every month, within 4 years you can earn up to 1 million USD.

Bro, nothing is impossible. The only thing you want it to be possible is to develop your own trading method, the method not only about your trading skill but also included your psychological mind.

This post has been edited by rstusa: Oct 1 2009, 12:37 PM

Trading Psychology - Accepting the Risk


Trading psychology is the most important aspect of a trader's success. I have made this statement before, but it is worth repeating. There are many factors that contribute to a trader's psychological makeup, and there is no easy way to attain a trader's mindset. However, there are certain factors that influence a trader's psychology that are important to be aware of.

The best traders typically are the most consistent traders. In order to be a consistent trader, it is important to consistently apply one's methodology to the market and make as few errors as possible. A trading error is when a trader deviates from their methodology. Common errors include taking a bigger loss than planned, exiting a trade earlier than planned, taking a trade that does not fit the trader's usual criteria, or passing on a trade that fit the trader's usual criteria. These errors can be destructive to a trader's capital and sanity.

Trading errors are usually induced by emotions caused by previous trades. The most dangerous emotional catalyst (in my opinion) occurs when a trader loses a trade they felt was a certain winner. After losing this trade, a trader feels sad, angry, or even vengeful against the market. This causes a trader to enter a trade irrationally in order to win back what they felt they were cheated out of. Of course, this trade usually is a loser. If it wins, this can be even worse, because it encourages this type of decision making in the future, which could lead to even larger losses.

In my opinion, the reason the aforementioned scenario is common among traders is that they did not accept the risk when they placed the trade. They thought the trade was a sure winner, so it was miserable to take the trade as a loss. In fact, traders may even refuse to take their loss because they were so sure it was a winner, which can lead to devastating losses. This is why traders must accept the risk of each trade before they enter their position. In other words, a trader must view the amount of money they are risking as an expense to see if their trade idea will work. Once a trader accepts the risk, they will typically feel far less distress if the trade does indeed lose.

Accepting the risk of each trade is not easy, especially for inexperienced traders. Of course, there are some steps we can take to make it easier to accept the risk. First, it is very important to plan out each trade. This means we should know where we will enter the trade, place our stop, and place our take profit level(s). That way there are no decisions that need to be made once the position is entered. The human brain will view information differently once that position is entered and it thinks much more clearly before the position is entered. Additionally, if we know the distance between the entry and the stop, we know exactly how much capital we are risking. This is important because it is impossible to accept a risk when we do not know how large the risk is. After entering the pre-planned trade, emotion is inevitable, but at least it won't impact the result of the trade.

As we said earlier, a trader must view the amount of money they are risking as an expense to see if their trade idea will work. Every trader has losses. However, consistent traders view losses as business expenses. Losses are a necessary aspect of trading, and there is no way to know which trades will win or which will lose when the trade is entered. Therefore, if we can accept the risk of each trade before placing it, these losses can more easily be viewed as part of trading rather than a personal attack from the market. Once a trader learns to accept the risk on every trade and concede they don't know which trades will win, it will be much easier to control one's emotions and achieve consistent results.

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Added on October 2, 2009, 8:46 amFinally USD start going up.

This post has been edited by rstusa: Oct 2 2009, 08:46 AM

If the unemployment decreased to 175k, most probably USD will up but still need to depends on unemployment rate.

Can you give specific explanation what you mean access to the largest bank?

Did you mean become an Introducing Broker or Fund Manger and set up a company under a large bank like Barclays Hedge?

I withdraw USD2000 before, never face what you said.

This post has been edited by rstusa: Oct 3 2009, 03:21 PM

阿拉伯石油交易將棄美元

（倫敦6日訊）《獨立報》(Independent)引述中東及中國銀行業官員報導稱，阿拉伯國家已與中國、俄羅斯、日本及法國展開磋商，未來石油交易將停止使用美元，並且預定2018年開始實施。

報導稱，產油國望改採一籃貨幣，包括日圓、人民幣、歐元及黃金作為交易貨幣。

無論如何，沙烏地阿拉伯央行總裁默哈末傑沙表示，該國並未與其他產油國及中國等主要消費國舉行會談，討論不使用美元買賣石油。

默哈末傑沙目前正在出席國際貨幣基金的高峰會議，倫敦的《獨立報》今天報導稱，波斯灣的產油國和中國及巴西等消費國舉行秘密會議，討論逐漸不用美元為石油訂價。默哈末傑沙表示，該報報導「絕對不正確」，沙地阿拉伯和其他國家之間「絕對未討論這類事情。」此外，日本財務相籐井裕久今天被問及上述報導時表示，「對此毫無所悉。」

美元兌主要貨幣走低

產油國不使用美元作為結算貨幣的消息導致美元兌主要貨幣都呈現下跌的走勢。美元兌16種主要貨幣中的15種下跌。

蘇格蘭皇家銀行銀行首席中國分析師幸芬多華表示，有關原物料交易可能會不用美元，這將會是美元的一大風險。

根據倫敦當地時間上午7:28，美元跌到1歐元兌1.4738，紐約昨報1.4648。此外，美元兌日圓匯率也從89.53跌到89.01日圓。

5 Reasons Why the Dollar Could Fall

1. Don’t Expect a Fed Exit Anytime Soon – The decision by the Reserve Bank of Australia to hike interest rates last night highlights the sharp divergence between the growth and monetary policy of countries like Australia with that of the Federal Reserve. Recent comments from the Fed suggest that they intend to keep Quantitative Easing in place for as long as they can. Over the past few decades, the Fed has never raise interest rates before the unemployment rate has peaked. With the recent uptick in unemployment, there is a good chance that the Federal Reserve could be one of the slowest central banks to tighten monetary policy and the slower they are, the fewer reasons for investors to own dollars.

2. Reserve Diversification – Although not directly related to reserve diversification, speculation that the Gulf States, China, Russia and Brazil are holding secret meetings to establish non-dollar denominated oil contracts contributed to the weakness of the dollar. Qatar and Saudi Arabia denied the speculation but this should remind traders that many non Anglo-Saxon nations have a long standing desire to reduce their dependence on the dollar.

3. Strong Q3 Earnings – To get a sense of how currencies could impact earnings, just listen to the complaints coming from Japan. Toyota warned that for each one yen appreciation against the dollar, operating profit is cut by 35 billion yen or $390 million. For Canon, each one yen appreciation hurts their bottom-line by more than 4 billion yen or $45 million. No U.S. corporation will be that specific, but from these statistics, we can gage the positive impact that a weak dollar may have for U.S. exporters. Alcoa reports on Thursday so watch for more discussion about currencies and their impact on earnings

4. Twin Deficits – The U.S. trade deficit is due for release on Friday. The twin deficits have long been a drag on the dollar.

5. Price Patterns – So far, price patterns are holding. At the beginning of September we talked about how the price action of the EUR/USD and USD/JPY this month could set the tone for the rest of the year. At that time, we showed two tables illustrating how in 7 out of the last 10 years, the EUR/USD moved in the same direction between October and December as it did in September. For USD/JPY, the odds were even higher with the currency seeing follow through 8 out of the past 10 years. Therefore based upon past price patterns, we have more reasons to believe that the dollar will fall against the euro and Japanese Yen over the next 3 months.

There are no major U.S. economic reports until Friday.

Don't call me sifu, i just read from the news then share with the ppl here.

This post has been edited by rstusa: Oct 7 2009, 10:52 PM

Govt only disallowed to set up forex broker firm in malaysia but as an introducing advisor, you still can set up your own company here to trade with the forex broker from oversea.

Now a lot of news will make USD weaker, but USD also consider extremely sold. As my opinion, USD will go down for a short term but will climb up in a longer term.