Agreed trolling is the last thing we need in this forum.

Been practice this long time ago, huge Reward/risk factor is really works very well when especially u paired up with S/R lines for perfect entry to get SL @ BE.

Place your SL @ BE. Enjoy the free trade and ride it.

And if your FED president uncle Bernake suddenly/surprisingly jump out say something NOT in your favor during a press conference, that u were already -200 slip from ur pocket., then u be screwed, cause the market will be surprised, and will move further by another 100-300pips against you. have u even think about that possibility?

This post has been edited by billytong: Aug 23 2010, 03:12 PM

Diversify risk is a good thing. but have you recover the losses that the long you are holding? May be if you would be in a better shape to close it and take an opposite trade, then relong it @ lower? No offense but it is just a suggestion of perfecting the entry and exit that you already had

Trading big TF is predictable if only the trend has been established, but the problem is where you should TP right b4 the trend change, It is a hardest part that I have not figure it out yet.

I have seen trader holding 500+pips for weeks then suddenly the profit gone down to 200pips may be BE within the matter of days.

just my 2 cents.

btw, guys, sikit sikit Jadi bukit. <-- this is a very powerful thing. Start calculating for example, getting only 20pips a day, everyday for 1 month, with 5USD/pips. See end of the month u can end up how much money. -30% of the profit u gained make it counted as lost trades, you will still end up a rather decent income to replace an average job.

Take ur time, buddy took me a 2 years to get out of situation.


Great.... looks like I am sitting duck until Unifi connection is fix Despite my streamyx connection is really stable, I still upgraded from Streamyx to Unifi in hope for better ping & connections since RM149 per month is pocket change for me +/- 10pips income only.

Right now I couldnt launch my trading platform.

This post has been edited by billytong: Sep 7 2010, 01:11 PM

no it is not down, it is just slow with lots of packet loss. Downloaded files is corrupted, launching trading platform got error, then patching Open suse update also got error. I definatelt wouldnt want my trading platform got error. Buy become sell? lol

This post has been edited by billytong: Sep 7 2010, 02:10 PM

I think it is more likely to follow the regular 200-300pip range pattern. 1.26 to 1.29. It has been like that for a few weeks. It is recommended to expect it to move like this until there are bigger news coming in that shift this pattern away.

1.Take your USD open acc 2 with Oanda, one in USD another acc in EUR.
2. Wire your money to the USD acc (about RM40)
3. Use the acc transfer fund option to do internal transfer between accs to convert your USD from the OANDA USD acc to EUR currency in EUR Acc @ 0.9 pip spread. Thats only 0.00009 USD u nned to pay for conversion. There is no any other hidden fee, just 0.00009USD. The only other fee is when u wire you money back using fxglobal transfer Oanda charge u 30EUR, which is still a lot cheaper than convert directly in bank or money changer because these 2 agent charge u more than 500-1K pip spread for conversion. thats about a full 50 to 100 USD for just 1k USD conversion.

Congratulation you have successfully bypass bank exchange rate, as they are most ripp off place to exchange money. Second goes by money changer. I love exploits

This post has been edited by billytong: Sep 17 2010, 12:26 PM

It depends on the amount you want to exchange, it is just that simple. If u have big amount of money to exchange, the cheap exchange rate @ oanda can easily offset the the withdrawal money. Wire charges only apply when u take fund in/out from Oanda, and it is fix charges. If you shift your money around the major currency like AUD/EUR/USD/GBP/CHF from time to time. All you need to pay is the spread charges stated in Oanda. Try doing this in Bank, everytime you shift you money to a diff currency they gonna rip you off on that expensive rate.


Again for anyone wanna try this method do the math calculation b4 u proceed any method.

This post has been edited by billytong: Sep 17 2010, 07:03 PM

Trading 1pip = $10 only need about 10 pip everyday to get RM6K Salary a month. That about 5min to 2hours work(camping good secured spot to enter, so your "working hours" everyday is quite different) = scalping entry @ S/R key levels, they usually bounce at least 5-20pips.

Other than that you pretty much sleeping/gaming/TV everyday

This post has been edited by billytong: Sep 28 2010, 05:51 PM

Somebody who lose money in forex. There are always loser in every business and career. Selfish mode on, I like to have these loser be here around in this business.

Some people like to make unrealistic goal. Hence you see a lot of blow accs.

This post has been edited by billytong: Oct 4 2010, 08:20 PM

Well nothing is impossible. It probably work for him, but we are not going to print this kind of "strategy" in new traders mind. Scalpers are indeed highly risky thing, it is not for new players. Swing traders are not for new players too. *too many random variables/politician/fundamentals to take into consideration.

normally I prefer to trade daily with only 1-2 nice trade with 10-20pips profit. It is the most balance of the both especially for new players. New trader should stick to medium term trading. Normally 1-2 nice trade per day only in particular in important key S/R level. Use Ruler drawing line style. It is the simplest of all. This is sufficient enough for your long journey to FX success.

Do not try to dream that you acc will grow 20% each month. it is unrealistic. 5% is already consider fairly decent but normally these are less important. it is more about are you in green or not overall in long term. This month I have not been doing great tho. for example.

This post has been edited by billytong: Oct 5 2010, 06:46 PM

I think my reply is pretty general. However I did state the prons & cons.

Just to clarify scalper do exist, but it is for advance traders only.

This post has been edited by billytong: Oct 5 2010, 07:08 PM

Agreed with rstusa, there are pros and cons on each kind of trading. One can hold a swing position with a scalping position in and out daily for additional income if he sees what the market offers him.

So there is no point wasting your time here trying to prove each other wrong or right. Start trading guys.

Try put urself in ur friend shoe, at the end of the day it is the reward that worth it. After all there is no different between staring at the screen for 8 hours vs working 8 hours in office (you are still staring the screen anyway)

With 100K acc, he probably can scalp only 10-20pips a day to get that 4-5K. It is really not much effort, thats like 15min to 1hour job if he is really good.

This post has been edited by billytong: Oct 6 2010, 06:41 AM

I think I can see what he is trading. His objective is sort of like

1. Getting the basic daily income.
2. Second trade position, getting in with SL @ BE ASAP and let it ride for a day or two. Risk Free trade ftw.

It is basically trying to have micro loss with a goal of getting big profit. Sort of like you can lose -10pips 5 times in a roll, but it only takes 1 TP 50pips to recover all that problem. So technically if u do not lose 5 times in a roll, any big TP is a huge gain. If you do the math with a high profit/loss ratio 10:1 to 10:1. Even with 20% winning chances you will end up in the profit zone at the end of the day. This method works, but I strongly recommend it is for ADVANCE traders only.

This post has been edited by billytong: Oct 6 2010, 12:41 PM

Actually no, FXCM have this gay sneaky thing that they do.

for example, if u long Euro @ 3890, but the market slip you to 3893, FXCM will give you 3893. But on the same case if you long @ 3890, the market slipped you down to better position 3887. FXCM will still give you 3890. IMO, this is GAY. The same thing they will be doing this when you close your position. They will never give u better "slippage"

and having extra 1pip spread over others might not be much money, but if you are trading 11USD per pips, thats paying RM33 extra each time you open position and then close position for another RM33. and I dont feels like paying extra RM66 for each position I opened/closed.

And in terms of execution FXCM is not as fast as other broker. Try matching this with Oanda. The major problem with Oanda is they have huge spread during news, just disconnect you during news. Other than that it is pretty same with other broker.

This post has been edited by billytong: Oct 18 2010, 11:57 AM

Your report doesnt show where u Set SL. As far as I experienced (At least for last year, may be FXCM had change this year I dont know) the slippage only apply when it is in favor of the broker, read what Luqmanz said. I am ok with slippage as long as they are both sided. But the experience I had in FXCM is one sided & it happened far more frequent than I can accept. Combined with the extra pip spread they charge. It is time to move on.

As far as I know broker FXCM has the easiest platform. I like their platform, and it is less laggy than Oanda. The biggest reason I move to Oanda is 1st. The Spread, 2nd Execution speed. Just the spread alone is enough reason for me to change. Paying extra RM66 for each position I opened/closed is unacceptable. Every 10+ trades = 1 graphic card gone. While I did not claim FXCM is slow on execution speed, they are decent as well but not as quick as Oanda.

The only trouble Oanda has is the Spread during news and sometimes rarely random disconnect during news. The most recent one being @ last Friday, during Euro @ 4130-4160. IMO if you are not trading during news(which I am not), Oanda is the decent broker.

Read across the forum in forexfactory. See others comment about FXCM and try ask who is faster in terms of executions. Oanda or FXCM. If you ask me even ibfx is better overall than FXCM.

This post has been edited by billytong: Oct 19 2010, 09:52 AM

stock got this FIFO thing apply on them. By the time U want to execute your position it is already too late.

We as forex have this luxury where we can get in and out instantly. Some traders for example, myself I take like only 1-2 trades per day aiming for 10-20pips average or hold it for "homerun" as a swing trade if I see my trade looks promising. All these can be done within 1-2hours. I am just exploiting the S/R levels, because base on experience 80% of the time the market bounce at least 5-20pips away from S/R level. That is easily allow any of us to move SL to BE and ride for a free trade to whatever pips we think we want to TP. If the trade are not going well and hitting my SL, I lose nothing.

Free trade is a good position no matter if it against the trend or follow the trend. It can be also be convert into swing trade easily without any risk

This post has been edited by billytong: Oct 21 2010, 01:49 PM