A very good example of newbies who come out from forex training course with full confident, thought can beat and conquer the market, and finally eaten alive by shark(broker).

But still, I think the 999usd is peanut for you. Fund again my friend, fight again.

i thinking klse stockmarket is more suitable for thomas.....
at least, the risk is far lower.

my opinion: he pick a very volatile pair to scalp.... shoulda pick something like the infamous eurchf, eurgbp or lamely audnzd...

This post has been edited by john123x: Mar 25 2010, 05:05 PM

Wah bulkbiz, push to the extreme meh, i think he learns his lesson d la.. If he still wan to fund then i dono hw to say d.. @@

Thomas, you can fund again like my past experience $1k, lost again another $1k until $7k if you dare. I believe you can fight the miracle, add oil!

U dont need to do that, just treat ur demo as REAL as it is. Some broker like Oanda allow u to add or minus the demo fund acc size to fit ur capability.

Start treating the demo as real acc, if the trader cannot change his mentality on this simple thing. he cannot handle the real acc. Reward/ Risk ratio play a very very important factor of winning.

Cant say we didnt expect this. Plenty of forummers have come in full of confidence and having the gameover sign given to them. Learn to trade and come back.

Hey billytong its been a while since i've seen you.. How have u been doing?account bursting with money already? hahah

lala since no one replied about their experience with various brokers, i shall continue using Oanda, just transferred 1k AUD, waiting for it to be deposited

probably gonna begin babypips.com revision tonight

Hi heliora, oanda is not bad, im using it, bt do keep in mind tat their quotes r different wiv others, it might be higher or lower(i forgot) than others in terms of price, one thing is if u r using simple charting techinques it is gud, if more advanced the r more lack of fancy tools..

Happy trading.. =)

This post has been edited by Volatile369: Mar 25 2010, 05:48 PM

Oanda is great i've done withdrawal before and everything is smooth. Oanda is famed for the tightest spread they offer but their charting sux.

What is EU summit? Is it a meeting about to save the greece and euro?

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

Well I use to be like him, burn a small acc 800 USD down to 500USD, but then decided to hit the demo for a full year. if one want to try something new, try it on demo. It makes no sense to loose money for trial and error.

Been doing good, the last euro shorts is a bit regret to take out too early as i didnt expect it drop below 3500. *may be at most 3460s is what i think it would go. But right now is all down here. Well in forex anything is possible. Hence SL is very ur best friend. I have been used to using SL @ BE, getting stop out is much better than going -ve IMO. If u dont lose a cent, how u lose money at the end of the day? Dont take huge loss, take small losses. it is best to loose the whole opportunity then losing huge amount of money.

Oanda is decent for its spread during non news hours, spreading opening during news is ok if u ask me, trading news is extremely risky business anyway. Unless u are insider who know the news b4 it release there is no way one can accurately predict news. Besides, the market can perceive it differently, there are enough news where the market move opposite of what it should move. You try to predict that base on your economic knowledge? I had give up long ago

This post has been edited by billytong: Mar 25 2010, 06:00 PM

i can assure u, oanda is one of the best...


http://www.cftc.gov/marketreports/financia...rfcms/index.htm
open the excel file. u will see oanda is one of the registered Futures commission merchants.

I think Oanda is one of the most longstanding brokers around, it doesn't even market itself much, and as far as i know it offers one of the best spreads. But ya their java trading platform wouldn't be as snappy as MT4 and doesn't have as many features, but it is good enough for a beginner.

In any case i can always open a demo MT4 account and do my analysis there haha .

Too bad they charge for withdrawal, i think some brokers don't.

They will charge a withdrawal fee if u withdraw it the 2nd time in a month, USD15 i think, first withdrawal no charge..

How about if both use EMA? EMA6, EMA12, & EMA21.

Ya you can see Oanda has one of the strongest capital base among the forex brokers that i recognise.

No, first withdrawal is 20 bucks, second withdrawal onwards is 15 bucks more on top of that.
Can see from here https://fxtrade.oanda.com/your_account/fxtr.../withdraw_funds.

heliora first withdrawal there is NO CHARGES for oanda la .. the only charges is the TT charges which charged by the bank -.-

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Added on March 25, 2010, 6:36 pmthomas just mc again.. interesting

This post has been edited by kelvin_tan: Mar 25 2010, 06:36 PM

Think about the money u save for each entry trade and exit trade, u save 1pip on each action u did.

when will you learn ur lesson thomas? you want ur account to be 0.00 before you learn? keep your head cool and trade another day la.. ur emotions clearly is not under control

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Added on March 25, 2010, 6:38 pmhuh billytong?? y need to quote me leh? i didnt talk anything bout 1 pip or 2 pips wo .. lol..

This post has been edited by kelvin_tan: Mar 25 2010, 06:38 PM