Did he show you his entire conversation with fxdd about his withdrawal problems or did you just believe what he said? Never had any issue with fxdd. Those with issues are usually those who initially funded with credit cards and paypal accounts and now have to withdraw through those accounts. No problems when you fund with a bank account and withdraw back to the bank account.

Same thing like those who claim that fxopen don't allow them to withdraw. Yeah.. most of those complains were back in 2007 when fxopen first started. Haven't heard about any complains from them in a long time. Heck, they even sponsored my car and 150 others for the Japanese GT in June last year and all we had to do was stick their sticker on our cars and park in the central display area.. psss.. don't tell my broker. Image courtesy of my friends blog who was also the photographer for the event.

So are they any good now? Well, they have a huge following in Malaysia and even dedicated a domain (www.fxmalay.com) and a very active forum. Go and ask around in that forum to get a better answer.



This post has been edited by sleepwalker: Mar 17 2010, 12:08 PM

Fortunately BNM's circular does not cover retail forex. BNM does not prevent us from going into an agreement with any company to perform spread trading. Since we are not performing any currency exchange, it is not within BNM's jurisdiction. Once you start collecting money and investing on behalf of the client, then it becomes BNM's jurisdiction.

This post has been edited by sleepwalker: Mar 17 2010, 02:16 PM

He is definitely on either 1:500 or a 1:400 leverage. Look at his first 2 trades. He opened 0.6 + 0.4 = 1 standard lot of EU. That would required a margin of USD1377.00 if he was on a 1:200 leverage. He only had USD999 when he opened the account. So his leverage is definitely higher than 1:200. That is why I would say either 1:400 or 1:500 leverage to open such large orders with so little margin required.

SO that is how the FXprimus USD credit bonus works eh? It adds USD500 to your account so that you can have more margin to purchase but does not reflect on your equity. You can use the USD500 to open orders but you cannot withdraw the USD500 from it. Very tricky.

Not exactly. Most of the other brokers do not extend line of credit. You actually get monetary bonus if you complete a certain amount of orders, monetary bonus that you can actually withdraw. However, the percentage of the bonus is much smaller.

You can only withdraw with the same method that you initially funded your account. If you used your bank account to wire the money to your broker, you withdraw by wiring money back to that same bank account. If you have funded with credit card, you withdraw the funds back to your creditcard.

That depends on your style. Most brokers don't really claim to have fixed spreads but rather they call it controlled spreads. My broker, FXDD, have controlled spreads for major pairs and the spreads don't change. That makes it easier to place orders to trade news announcements.

Variable spreads makes it very difficult trade news as the spread widens just before news announcements and during low volatility periods to prevent people from scalping. However, variable spreads can have lower spreads during peak periods. You need to check by using the brokers demo account.

Those were just minor news in comparison to the bigger issue at hand. Greece and IMF is making EU fly like humans... yes..humans can fly... DOWN that is....

Until the day they have a firm resolution for Greece or the day Greece gives up waiting and go straight to the IMF, EU will be under pressure. Talks of 1.31 by end of March is looming ahead.. and getting louder...

If that happens.. I'd raise my champagne glass and welcome EU at 1.25.

The current issue with Greece shows that EU cannot agree to a solution. If Greece exit, it shows that EU are UNABLE (aka.. not capable) of resolving the issue. It would be bad for the EU.

Same goes to Greece looking for help from IMF. That solves the issue of helping Greece but does not solve the issue of the way EU is handing it.

This post has been edited by sleepwalker: Mar 24 2010, 06:24 PM

EU is no longer in range. Your box is outdated. Your technicals are being overwhelmed by sentiments. When sentiments engage technicals, sentiments always win. If the market wants EU to drop, it does not matter how much oversold is being indicated by technical indicators, it will keep dropping and getting deeper into the oversold zone without any major pullbacks.

Only in the absence of any sentiments do we use technicals. If the market is in doubt and does not move according to sentiments, then we fallback to technicals. If the market is trending according to sentiments, technicals take a backseat.

Nice explanation.. or rather nice copy and paste. This is what we call a text book explanation.

rstusa, put both EMA 20 and SMA 20 on your 1min chart and you will notice that the 20EMA will react to changes in the current price action faster than the 20SMA.

So for example, when price hasn't changed much for 20 mins, both SMA and EMA would be about the same. The moment the price changes up or down, you will notice that EMA will move/break faster since it's putting more weight on the most recent price. You will see EMA breakaway from SMA and after that SMA will play catch up.

In a nutshell, both are about the same but use EMA if current price action is more important to you.

This post has been edited by sleepwalker: Mar 25 2010, 03:17 PM

Yes and NO.. Yes.. the summit is on today and tomorrow... and NO.. they don't even have Greece on their agenda...

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Added on March 25, 2010, 5:56 pmFrankly speaking, it does not matter. Actually there is no fixed format even on the MA numbers. Some like 5, some 7.. of course there are a few that works.

In your case, you can put them all on.. and watch. 6SMA, 12SMA, and since he wanted you to use EMA 21, you can put both EMA 21 and SMA 21 and watch it. I believe you should be able to figure out the characteristics of each SMA and EMA.

This post has been edited by sleepwalker: Mar 25 2010, 05:56 PM

Yes, you can do that. In fact I use all 6, both SMA and EMA at 5, 20 and 60. It gives a good indication of possible breakout when they all bunch together, show breakout when they fan out and then indicates the end of a trend when they start to bunch up again. Very much like bolinger bands and macd but all these done using simple and exponential lines on top of the price action itself.

Merkel is a she.. not he.. Angela Merkel..

Same concept. They all use the same candlestick concepts, fibs, resistance, support, etc etc. You just need to know how worldwide events affect the currency pairs. In-fact, the theory of the indicators are the same and some books have a title like 'Trading with candlesticks' for forex, stocks and options. It uses all 3 as examples, hence the theory would be very similar.

Wow.. a statement like that without the fibo percentage hit and the fibo range is as good as a Playboy Magazine without any naked women in it.

But that's the same with regulated brokers. If you read the CTFC report I attached quite a few pages back, you will see that even regulated brokers do not guarantee the money.

If the Lehman Brothers Holdings can close down without guarantee, what hopes are there for any of the forex brokers. I believe the same thing would be applicable to brokers regulated in UK.

Kelvin, Lehman brothers did not close due to economy crisis. They were the cause of the crisis and were brought down because due to their leverage borrowings.. hmm.. leverage borrowings.. doesn't that ring a bell.

But if big panda can't cross 3000 points this morning, buying momentum will be diminished.

It's so easy to spot a round number deposit for a demo account isn't it?