[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...

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The problem with reviews on the net is that there are a lot of competition, and anyone can write a review. Oanda is one of the biggest and experienced broker around.. Just dont expect much if ur starting with 250 account..Unless u have a big account its hard to earn passive income by trading. Focus more on discipline and following a proven trading plan rather than profit or loss.. the profit will come automatically. Thats what i learned anyways.

Trading is all about risk management.. its not a good time to trade right now.. the period between christmas and new year usually is just soo much volatility.. traders are still on holiday and portfolio adjustments abound.. trends could look like trends but in actuality just randomness..the charts will always be there.. just saying its better wait till 3rd January2011 imho.

Any idea for carry trades in 2011?

Dont think USD500 is a large enough amount of money to start trading.. better put ur money elsewhere. Trading is about conquering greed and fear.. yes u can learn trading with small amount of money..but your psychology will play against you. Would you be able to spend time managing your trades just to gamble USD10 per trade? (assuming you risk the recommended 2% per trade rule). From what my experience, new traders will usually have high expectations.. you have to set urself to win. And having enough capital is part of it..i think.

Depends really.. what im saying is, you will probably be more fearful and greedy trading with USD100 account.. compared with a USD3000 account. Bigger account usually make a trader more confident and disciplined.. they dont go in looking to double their profit in one month.. and they will be willing to trade smaller lots. As much as i like to read charts and news, the whole point of trading is to make money.. dont think trading on a USD100 is really worth all the planning and analysis before making the trade.. but thats just me.

Here are some goodies i want to share..

Asset allocation report Rothschild December 2010

http://privatebankingandtrust.rothschild.c...mber%202010.pdf

Gold price chart in MYR.. gold traders bookmark it if u havent already.

http://www.xe.com/currencycharts/?from=XAU&to=MYR&view=1Y

Happy New Year everybody.

Gone through this phase.. i found out that its best to just choose one method and stick to it. practice it day in day out.. and sticking to the trading plan. stay away from forexfactory and useless articles and news..too much noise.. for chatting its ok, but id go far away from it when there is a trade running. This guy say this, that guy say that..this method is better than that method etc etc. all of it is just noise. You need to filter your head from bad information.. Only get information and trade ideas from experienced traders and good website.. Thats what i think anyways..

Looking to go long UJ..short EU. AUD is a beast. It might be tempting to short ozzie..but so many have fail. Too risky imho.

I may be wrong i can be wrong and have been wrong..but from my experience, usually, the biggest enemy in trading is your own self. Mistakes can be prevented if one trade with a CLEAR trading plan.

That means u know beforehand how much money to risk, where to enter and most importantly where to exit. Thats why backtesting and forward testing your system is important. Another important factor is the psychology factor; before you enter a trade you must "look" at yourself and see how youre reacting to possible setups.. are you following your trade rules or are you just entering a trade with Greed in your mind. Thats why i personally like mechanical approach to trading.. if you have backtest your system and it shows good result it would be easier for the trader to accept losses.

If you dont have holding power then maybe you shouldnt be trading..or you should risk less. If you cant sleep with an open trade then id say youre risking too much. Or you could try this.. let say you risk 2% each trade. You could risk 0.5% on the first entry..and when price confirms your trade.. you can put another 1% on the following retracement and keep adding depending on your confidence. Enter the trade put stop loss and stop watching the trade..

or you can do what i do..let an EA manage your trade. This way you cant feel Greed and Fear.. you wont be moving your stop losses or closing trade too early.. let the dice roll and accept win or loss. Just my 2 pips on the matter.

These large moves is tempting .. if ur late for the train dont chase it. wait for retracement and valid signal from ur trade system.

A lot of misinformation in the net..especially by websites and forums that is sponsored by the brokers. Analysis is OVERRATED. Trading is a game of probability.. it IS actually like a casino. Trading should be easy..Select a system which has been tested. You can buy systems..u can select one of those free systems. Select one that fits your risk appetite and your time schedule. if u get buy signal buy. If sell signal sell. The trader job is entry, exit and risk management. Dont think too much and research so much.. no one can predict the future no matter how much analysis u do.

For all the newbies out there.. i also consider myself newbie because i am always learning. but after two years trading this stuff i found out that there are a lot of myth and mumbo jumbo stuff in the net spreading around that could make u lose your money in the long run.. for example:

1. you need good R:R each trade u take.
2. longer timeframe is less riskier than shorter timeframe.
3. u can trade naked.price action shows everything. Really? lol
4. there is a holy grail EA robot system with 90%hit rate and 3:1 RRatio and low drawdown.
5. any system will show profit with proper money management.

the odds are against you. if u havent read this thread i really recommend it. good luck.

http://www.forexfactory.com/showthread.php?t=215432

Traders dont "predict" the market. They react to the price and follow their trade methods. Dont confuse trader with investors..investors use crystal ball they can tell the future.

its monday were still ranging.. but overall trend still bullish. dont hold that short so long.. lol psycho u

nice clean website. can put free signal service?

judging from ur question seems like ur not familiar with forex.
have u open a demo account yet? better learn MT4 basics, analysis and basic money management before u go straight to live account. instaforex also have demo account.. Dont be too enthusiastic, its easy to earn money using forex..its even easier to burn your money too. If you want to open Live account all u need is a credit card and a PayPal account. Most broker are bucketshop and market maker.. better to open ECN broker like Dukascopy but need minimum deposit USD1000.

Six months is enough time for demo. As long as u trade risking no more than than 2% per trade dont have to worry. When i start trading live account, i start with 0.01 lot trades and gradually risk higher lots as my confidence grow but i wont risk more than 2%. Choice of broker depends on your trading plan. If you hedge or use big leverage then u must avoid US base broker. I would avoid the smaller brokers and rather go to bigger broker like MIG bank, Oanda and FXCM. This is to make sure that your broker is liquid and they dont trade against you. Instaforex has a big customer base in Asia and good support but i doubt them because of their aggressive marketing.. thats just my opinion.

forex is just a toy to play..dont take soo seriously if u dowan get burned..got alot of money better invest in bond, property, gold/collectable or business.

Thomas u using double bollinger and trendlnes? good results.. using no sl for short m5 m15 timeframe is ok in my opinion but its still very risky.. especially with large lot size. Long XAU is good fundamentally but the price is very volatile.. If you like to gamble thats up to you i guess.

nowadays anyone can trade.. you using EA robot? from my experience EA only good when it focus on one or two market condition.. for example there are EA that only trade gaps, some only make money on London open, some only counter trend big 00 numbers etc.. but you need to understand and monitor what EA is doing dont trust 100% on EA..