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 Forex V6

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dannyooi_84
post Aug 17 2009, 08:37 PM

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Hey Kelvin and Adam, been reading much about forex stuffs this few days. Read from v.4 to v.6 ... till my eyes blur blur smile.gif

anyway, I'm still a newbie and have much to learn from you guys. Will be trying out the demo 1st before i go live.
dannyooi_84
post Aug 17 2009, 09:32 PM

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test the demo in ibfx, wooo...too fast the graph goes up and down. scary! Ya. need to control greed and emotions. Still much to learn about the charts..

Btw, saw in your previous (x dunno many post), you aim for few pairs right? EU and GU ?
dannyooi_84
post Aug 17 2009, 10:31 PM

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tried the demo already! results isn't great...losing. but at least i catch abit of the whole forex chunk.

btw kelvin, how come each time i short or long, it will be starting negative? or maybe my streamyx connection slow abit ? hmm wonder why it is like that
dannyooi_84
post Aug 17 2009, 11:37 PM

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QUOTE(dreams_achiever @ Aug 17 2009, 10:54 PM)
I believe it is because of bid and ask spread.
GJ have 7-8pips spread. EU have lowest spread which is 0.5pips. Quote for oanda platform.
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Not only it calculated the spread ..it adds dunno what. let's say use 0.01 lot, when i click buy or sell, it will start like -0.23. so high.

Probably it went up or down. but can't be as I tried both buy and sell around that range, still turns out to be -ve alot. Sorry for my noobiness.
dannyooi_84
post Aug 18 2009, 09:12 AM

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QUOTE(dreams_achiever @ Aug 18 2009, 07:37 AM)
Or maybe because of interest charged on open trade?
If you short high rate currency against low rate currency, you need to pay interest every seconds for oanda case.
It is called swap rates: http://www.ibfx.com/tools/swaprates.aspx
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I realized that the much difference is due to the buy and sell price. Buy or sell, will also give me -ve figures. I'm trying oanda and ibfx demo as well.
dannyooi_84
post Aug 18 2009, 10:18 AM

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QUOTE(balthauser @ Aug 18 2009, 10:11 AM)
Isn't that what we called spread?
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The spread can be that high? The difference can be like 50 pts to 40pts... hmm...still much to learn .. smile.gif
dannyooi_84
post Aug 18 2009, 11:10 AM

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I see, thanks for the tips dreams_achiever
dannyooi_84
post Aug 18 2009, 11:23 AM

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QUOTE(kelvin_tan @ Aug 18 2009, 11:14 AM)
One thing you should make a habit is to see the spread before even entering.
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kelvin, I'm using oanda. how to see the spread? The difference between the sell price and the buy price?
dannyooi_84
post Aug 18 2009, 11:41 AM

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QUOTE(sleepwalker @ Aug 18 2009, 11:28 AM)
Swap rates are only applicable if you leave your order overnight. Overnight means 5am Malaysian time. You will be given interest for buy orders and charged interest for sell orders. Swap rate is not charged at per second rates.


Added on August 18, 2009, 11:30 am
That depends on the broker that you use. The broker that I use has controlled spreads and the EURUSD pair is controlled at 1-2 pips with the GPBUSD at 3-4 pips. The spread does not move much as they control it. Some brokers will raise their spread to 20-30 pips, which will eat into your profit.


Added on August 18, 2009, 11:36 am
You got it the other way around. High spreads happen during peak activities so that the broker can earn more. It also happens during news breaks that would affect the market. If you are a broker, you would encourage more trading during low volume by reducing the spread, not increasing it. When breakout news happens, people will trade and that is the time to increase the spread to earn more for the broker. Do keep in mind that they broker only earns from the spread they charge you since they don't charge commissions for retail traders like us.
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Which broker are you using?
dannyooi_84
post Aug 18 2009, 12:05 PM

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I'm still on demo, would like to open a micro account in few months time! smile.gif
dannyooi_84
post Aug 18 2009, 02:28 PM

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QUOTE(kelvin_tan @ Aug 18 2009, 01:42 PM)
I would like to make a correction on your part. Swap rates for mt4 brokers are calculated by days... on oanda.. its calculted by the seconds.. every second counts for the payment/receiving IR..
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Kelvin, so this means high interest compare to others?

Btw, managed to earn some pips. Still learning the trade smile.gif

----------------------------------

EDIT:

Why sometimes the interest is +ve? shouldn't it be -ve ?

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EDIT:

Is it when we long, it is +ve interest and the same for short, -ve interest?

This post has been edited by dannyooi_84: Aug 18 2009, 04:14 PM
dannyooi_84
post Aug 18 2009, 08:29 PM

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OK.. times up. 8pm. Time to prepare for US market opening.
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[/quote]

win more pips bro! hehe smile.gif
dannyooi_84
post Aug 19 2009, 05:26 PM

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Been earning around 100++ pips since i start a demo account with Oanda. Hopefully I can learn more than can start live already. Usually what leverage you guys play?
dannyooi_84
post Aug 19 2009, 06:00 PM

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QUOTE(Juggernout @ Aug 19 2009, 05:35 PM)
Oanda?? if i am not mistaken the beginning cpital should be 5000usd
for the beginner like me use FXCM.....
I thought you can deposit any amount you like in Oanda, no?
dannyooi_84
post Aug 20 2009, 12:31 PM

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High risk = high return! ... smile.gif but must be a calculated risk ler!
dannyooi_84
post Aug 21 2009, 04:51 PM

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Why is the EU abit bullish today? due to any news?
dannyooi_84
post Aug 21 2009, 05:47 PM

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Need to read the news more and make my own prediction. noobie me! smile.gif


Those who long EU..sure profit like crazy...

This post has been edited by dannyooi_84: Aug 21 2009, 05:50 PM
dannyooi_84
post Aug 22 2009, 01:00 PM

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Hmm...waiting for monday to continue my demo trading. Any opinions on EU for this coming week?


Earning many many pips through demo account. Seems that I like forex trading compare to stock market.

This post has been edited by dannyooi_84: Aug 22 2009, 01:01 PM
dannyooi_84
post Aug 22 2009, 06:59 PM

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QUOTE(penanghomes @ Aug 22 2009, 05:50 PM)
danny,since ur on demo..u can try put a sell order ( limit order ) on eu @ 1.4400...
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I'm using oanda platform to trade. Still learning and everyday I learn new things. So far I havent tried the sell order thing. I only touch the SL and TP. What is the purpose pf the limit order/sell order??

It can go up sumore?
dannyooi_84
post Aug 24 2009, 01:23 PM

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AUD/JPY gave me some pips this morning. too bad..demo pips.! lol

Anyway, will be looking at the EU now. hope to earn some pips there too

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