Hello,

What you guys think of broker InstaForex? I am thinking of opening live account with them, or is there any better choices?

hope to received good answers.

which one better open live account directly with Broker or through Agent?

I am really interested to trade in FOREX but confusing which agent to choose and afraid fall in forex scam.

why need to bank in money to IB local bank account? why cant we just register directly to instaforex, what is the priviligaes register with IB?

Dollar Sharply Lower after NFP Disappointment, Unemployment Rate Jumped to 9.8%

I trade demo buy EUR/USD using 1 pips = 8 USD, i profit more than USD 100 already.

bad news, market sentiment USD bearish, bullish EUR

that is how it work arr?

This post has been edited by imax80: Dec 3 2010, 11:09 PM

thanks kelvin_tan,
do you know which one is good trading through broker Market Maker or broker with direct to interbank ECN?

i try sclaping Demo with InstaForex but always got requotes. what are pros and cons with requoting?

Normally how long keep your position? how your risk and reward ratios?

I find it very similar in technical analysis in stock market, i more into SWING trader BUY at support SELL at resistance. At the moment i still try to familiar with FOREX market. i find it interesting because we could profit in two direction(LONG and SHORT) and long trading hours .

how you trending in FOREX, are you using moving average to ride the profit and what TF you normally use?

Sharing is caring

Thanks very kind of you..may be i will use FXOpen

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Added on December 6, 2010, 1:14 pmluqmanz seems cant open your link, page not found.

I really hope to read it.



This post has been edited by imax80: Dec 6 2010, 01:14 PM

very good classic skill..Ride the trend using trailling stop to maximise profit, exit when the trend violated. I like it

Capital preservation is the KEY, Discipline to cut losses.

Thanks luqmanz, is that your thread?actually occasionally i silent reader there
i used to be active in BJ learning TA from Goldfinger

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Added on December 6, 2010, 7:40 pmi am aware that pair combination which involved GBP and JPY move so volatile, how you absorbed the negative floating? do you use the art of position sizing

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Added on December 6, 2010, 7:43 pmThanks for the recommendation will looking for the book.

So far only two books about trading i finised read Alexander Elder(Trade for a Living) and Super Trader (Van Tharp)

This post has been edited by imax80: Dec 6 2010, 07:44 PM

izzit..where actually we can get the list of regulated brokers?

I prefer broker with low spread 2-3 pips, no requotes, good service i.e easy bank in, withdraw money and using MT4. Hope kelvin_tan could recommend one or two.

Thanks Kelvin_tan

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Added on December 8, 2010, 12:13 pm keep it simple, the most important thing is prepare trading plan upront before entering any trades and be honest with our trading plan

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Added on December 8, 2010, 12:24 pmI like Fibonacci retracement level 38.2% and 61.8%, most of the time price will rebounded from this level

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Added on December 8, 2010, 12:27 pmI find the correllation and strength analysis useful in trading chart pattern breakout and during price consolidation to decide whether to short or LONG

This post has been edited by imax80: Dec 8 2010, 12:27 PM

may be you can use position sizing. i.e 200 pips risk with small no of currency units to buy.

hi luqmanz..does the currency meter free? how to get it?

it require patient and preserverance to learn and right mindset and attitude. approch the currency market with respect

May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

[quote=Whatever111,Dec 24 2010, 03:48 PM]
[QUOTE]May be ibfx australia could be shortlisted, regulated and deposit quiet low USD250.. IMHO no matter what type account you use standard,mini or micro it all the same..it is a matter of risk management..even with micro lot one could buy up to 100 lot X 1000 unit per lot = 100,000 units.

Omg really? Minimum is $250? Actually I'm a student that's planning to earn some side income through forex. I'm not sure whether I can amass that much money for trading. Btw, Oanda accept starting capital of $1 but I don't know whether they can be trusted or not since there's a lot of bad review about them...

[/quote]

I like Oanda, apart from being regulated, so far this is the only broker that is so flexiable in lot adjustment, the drawdown is this broker is using java web based platform while nowday most traders prefer MT4. But in the end it is up to individual choices, choose what your comfortable in your own style.

It is hard to start with just USD1, they are some charges that you need to considered like the fund wire charges and exchange rates that could eat your starting capital.

if you can start with at least USD100

assuming you want to take 2% capital risk in every of your trade = RM2
your stop loss = 200 pips, you will get out if the market move 200 pips against you

Pips value = 2/200 = 0.01 cents per pips, so you should only trade with pips movement of 0.01 cents

Which is equivalent to totall no of currency units to buy = 0.01 X (1000/0.10)micro account = 100 units currency

Also take note you leverage choice..i.e 100:1, 1 % will be set aside by broker to open your position.
1% to open position for 100 units of currency is USD1 will be side aside as your margin and USD199 as free margin. You will got margin call when your free margin reach USD 1.

so, you will have about 99 trades if you really discipline in your trading.

P/S : I like trading cents account in InstaForex

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Added on December 24, 2010, 8:16 pm

Falling wedge pattern with oscillator forming bullish divergance.

This post has been edited by imax80: Dec 24 2010, 08:16 PM

Why not you just visit their website, i have a friend using this broker for more than 5 years now and very satisfied with their service.

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Added on December 24, 2010, 9:55 pmthey are companies offering forex investment to the public in malaysia, pool their money and help them to trade. It is illegal as their collecting money without license from BNM.

IMHO, FOREX should be at your own risk, you learn, open an account, choose your broker, trade at your own risk. BNM got no control at you since your are opening oversea trading account. Broker goes bankrupt, run away and bring our money with them are part of the risks that we are facing.

This post has been edited by imax80: Dec 24 2010, 09:57 PM

If you register at Insta, after the registration you can see the link 'Deposit throw local bank', after you click the link you can see the list of IB in malaysia. If you not comfortable depositing your money with them, you can always use other method such as Credit Card or wire transfer. But via IB also not bad, quiet fast within 24 hours can reach your trading account already

may be you can email them to enquire.

E-mails

Dear clients,

Please note that in order to improve security and reliability in execution of your instructions, communication by email of any requests to Dukascopy Bank can be done only through the following mailboxes:

support@dukascopy.com : for any questions, requests and instructions related to your live account.
In case of urgent instructions, we highly recommend that you contact our live client support desk or your Account Manager via phone during business hours (+41 (0) 22 799 48 48) so as to verify proper reception of your instructions and to limit risk of late execution or non-execution of the latter.

info@dukascopy.com : for any other general questions.
We draw your attention to the risk entailed with communication by emails which include failure in delivery. Additionally, emails sent to addresses other than “support@dukascopy.com” and “info@dukascopy.com” may not be read at all or read with delay. We stress the importance that you verify reception of your instructions by contacting our live client support desk or your Account Manager promptly.
Dukascopy Bank shall not be held liable for any loss or expense, resulting directly or indirectly from late execution or non-execution of instructions sent to any other email address than “support@dukascopy.com”. Depending on their nature, instructions may be executable only during business hours.

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Added on December 24, 2010, 10:12 pmYou can try transfer small amount first since Instaforex minimum deposit is USD 1 only for all accounts including standard account.

This post has been edited by imax80: Dec 24 2010, 10:13 PM

yup, fill in the online form only no need to upload other documents such as utility bill or passport, by now you should get your account no, passowrd, phone code and pin no, they will also send this info in your email. keep it because you need it when you want to communicate with IB or Instaforex official for withdrawal or depositing. You can also access your trader cabinet and you can explore the functionality there such as change leverage or account type.

just launch the platform and enter the info to create demo account, if you login using your real account info, you could see your equity or starting capital = 0. You need to make are deposit first before you can trade.

Insta is using MT4 and totaly different with Oanda platform.

I strongly advise practise in demo first and familiarise yourself with the MT4 trading platform.

I have not use MT5 yet, but so far the only difference i see is the way they display our equity info at bottom screen in the trading platform and you might also feel different in the order fields, but for me i still prefer MT4

This post has been edited by imax80: Dec 24 2010, 11:07 PM