not exactly a forex question, but this is the best place for me to ask i guess.

I'm planning to spend a lot of time in china next year, 6 months+, and will be travelling to Beijing for some business next month.

Do you think it's a good idea for me to open a RMB bank account in China now, and put in a bunch of cash into that account for my spending next year?

I'm thinking about this because the RMB is low now, and i anticipate it to continue its rise soon.

US keep pushing to increase value of RMB, but china want to keep it low to maintain competitive of export.

But acctually how much u want to invest like this?? You need quite big capital if want to invest like this, and there is quite high risk as you need parking you $ there

if you can find RMB futures you can lock (buy) on the price using futures contract.. usually only cost you 10% (leverage) of the actual price and expect delivery (pay remaining 90%) by the expiry of contract... ( but this is usually used by exporter/importer to lock on favorable fx exchange to assured/maintain profit in selling/buying their underlying product/service and not get adversely affected by fx exchange)

oh yeah, you can use usd futures

the use of Futures contract might be complicated for some.. but it is useful for exporter/importer/big producer/big farmers/plantations if they dont want to be affected by fx change..

better consult with a financial engineer further.. if there is any in malaysia..

This post has been edited by Sham903n: Apr 13 2010, 12:50 PM

RMB is pegged to the US dollar.

I am learning to use MT4 demo on my mobile, why I cannot find other currencies to pair with MYR?? By the way, I just plan to use this to see the latest currency tracking in graph form

Hey please i need reply fast, i need a broker that accepts credit card (or prepaid card but i think its the same, i use matta fair prepaid card VISA) to deposit and withdrawal. Withdrawal and Deposit is as fast as possible, and can withdraw more than the amount of deposited to the account.

http://instaforex.com/forexpeacearmy.php

hehe... i donno.. lah if the fx company isnt ecn.. i doubt they want customer making money.. but we need to see the 2 side of the coin and not take the world as square, blindly

If you have 50k usd, just go for dukas copy

I have plenty money to invest. Convert RM to Sterling, then open Sterling FD with local commercial bank. 1 or 2 years later, sell my FD and change to RM. Any comment, people? Workable? Because I foresee Sterling will appreciate in the future as 2012 Olympics held in UK.

might be the other way around... if pound is too expensive.. people might be put off from going to expensive place and spending money there... if pound is cheap... retail sales increase economy happy..

But Olympics is a world class sports event. There'll be for sure many tourists/visitors to go UK since this is a 4 years once sports event. Demand for Sterling will be increased accordingly; and the value will definitely go up. Don't you think so?

i'm not planning to make any investment. Just want to find a way to maximize the value of my ringgit when i spend it there in a year's time.

to print money only cost the country few penny for 1 pound.. to get foreign money in exchange for their money needs a retail transaction.. someone need to want to get pound to buy something in pound.. instantly they made something from 3cent to a foreign exchange value..
I might be wrong.. its only my 2cents

Hi,

im new here. Any know how to open a forex account and the minimum amount to start up. I just wanna try and make side income
earn some extra money

any tips or tutorial kindly mail me at hemoforex@yahoo.co.uk

Thnx all!!!!!

to the guy that posted he cant find a broker that offers MYR pair to trade.

Please take my advice and give up on that. You should just give up on forex. Trading currencies with the base currency as MYR is an offense under the malaysian law. You can go to BNM and check it out.

If he found a broker can trade with MYR, I can guarantee his trading very boring, not to say MYR, trade with SGD or HKD run like turtle.

Greece to test waters by auctioning T-bills today... expect volatility in EUR/USD trade cautiously

---

Added on April 13, 2010, 5:49 pmyo bro i saw u using HTC touch HD... u trade on dat ? is it good for mobile FX trading?

This post has been edited by xeNOS: Apr 13 2010, 05:49 PM

Of course good, it is the best viewing for chart because with 3.8" screen.

ic.. u stay in HK ? is the HTC there cheaper? i goin HK nxt wk...

---

Added on April 13, 2010, 6:19 pmhi u can try IBFX/FXDD/OANDA... for oanda there is NO minimum you can open an account from as low at USD50 but u'll be trading cents la... good for practice...
for a beginner i would advise not too think of making/earning yet in the markets, just take your time learn and experiment with different trading strategy and find a one that would suit your personality... it is hardwork and takes alot of time and dedication... so just go easy

This post has been edited by xeNOS: Apr 13 2010, 06:19 PM