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 Forex Version 10, Foreign Exchange Market Discussion

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wodenus
post Jul 14 2012, 10:42 PM

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QUOTE(dwin95 @ Jul 10 2012, 10:21 PM)
Im new here and I have a few questions..

Im somewhat interested in forex trading but currently have little to none knowledge about trading. My dad was an active trader for the past few years but since the profit wasnt really stable he decided to leave it and got a steady job. Since my dad has the experience(although its not stable and 100% profit all the time), would it hurt to give it a try? Im sure my dad would support me all the way if I express interest. He has his own methods to play forex tho but im not sure how effective it is. Or I should by all means stay out from forex as it could be really harmful to my future?

Im 17 by the way.. Just a young lad curious about money making.Thanks    smile.gif
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I can honestly say I've never seen anyone make any serious money in retail forex. It doesn't mean you can't, I just have not seen anyone do it, although some people have tried to prove it to me, they don't seem to have succeeded.

This post has been edited by wodenus: Jul 15 2012, 12:07 AM
wodenus
post Jul 15 2012, 12:40 PM

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QUOTE(Sham903n @ Jul 15 2012, 12:11 PM)
"retail" forex? sure can lah.. just see all the foreign exchange counter here and there in malls.. hehehehehe
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Yes "retail" forex, as opposed to hedge funds, who trade in millions and don't have to worry about margin smile.gif it looks possible and it probably is, but so far I have not seen anyone make more than what they would make working in a fast-food place at Rm5 an hour smile.gif

wodenus
post Jul 16 2012, 07:43 PM

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QUOTE(Sham903n @ Jul 16 2012, 06:02 PM)
Ive met some, they look like they work in fast-food RM5 an hour thou...
some even leave their merc in the mall parking area and take bus going around cause they have nothing much to do.
their trading style only trade max 2 hours per day with a minimum USD100,000 account with USD40 a pip..  cry.gif
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Funny.. got Merc why park it? don't make sense unless you can't afford the gas to drive around. Like I said in the other post, if you have $100,000 that you don't mind losing if the broker goes bankrupt, then it's easy.

If you've got a $100,000 account, and the broker goes under, then you might have problems smile.gif managing risk in trading is one thing, how do you manage the risk of the broker disappearing tomorrow?

wodenus
post Jul 16 2012, 08:13 PM

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QUOTE(MNet @ Jul 16 2012, 08:05 PM)
broker down is not ur $$ down bro

pls search segregated acc broker
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Sometimes broker down is also $$$ down, because they illegally tap into client funds when they are in trouble (like the MF Global and Peregrine cases.)

So the risk still exists, even if client funds are segregated. That being the case, how do you manage the risk?


This post has been edited by wodenus: Jul 16 2012, 08:16 PM
wodenus
post Jul 17 2012, 12:49 AM

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QUOTE(Sham903n @ Jul 16 2012, 09:16 PM)
yeah i guess he cant afford to pay gas even with 10 pips a day..
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I wonder what the gas and maintenance costs of that thing is. And who can guarantee to make 10 a day, is that possible?


Added on July 17, 2012, 12:51 am
QUOTE(boyvai @ Jul 16 2012, 08:59 PM)
for me two kind of traders (fx traders)
1) trade for living.trade on own capital.
2)trade with people money.fund manager?

only hedge fund manager capable to trade on million capital.of course after got full license.most of the successful hedge fund manager trade on global macro strategies.yes,the is hundreds peopled back u up.work together, achieve their own fix target monthly basis.

indeed,broker fall down,your capital also gone.there is no perfect casual brokers.

i got an offer from reputable broker.to be their representative,and their fund manager.where i can access  up to 3 million capital  in house and internal and external clients.10% industry standard structure return per 1 million after i achieved fix target.after i pass their target i almost got the job,the company will get the license for me,on the house.

after few consideration,i fall back from the offer.which as i can not trade on that many zero numbers capital.it is just a number,but i still cant.my emotion cant.few of my friends call me retarded because i rejected after i pass few test.well..

so,i comfortable with my own capital,my risk.my profit,my lost.my own strategy.only fund manager will trade on million capital.im just a fry.
well,this is just a game.
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Yes. broker default risk makes this a very risky game. It would be cool if they insured investments smile.gif


This post has been edited by wodenus: Jul 17 2012, 12:51 AM
wodenus
post Jul 17 2012, 10:55 AM

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QUOTE(boyvai @ Jul 17 2012, 01:19 AM)
actually,fx trading can profit well or very well depend on the trader himself.
got capital,good strategy, excellent money management,shining mind control,profit.
reputable broker doesnt mean trust able broker.
for me i can withdraw my profit with ease that is good broker,no spike,no hidden agenda.
the problem with broker is when u are very good trader. consistently profit with high % return weekly or monthly.
broker hate u.i speak from my experienced, my observation through my guru,and few trade members who trading for living.
i repeat,only few members who trade for living.not all smile.gif
yes,all of them got problem with brokers.especially the one who really dedicated and trade for living.they do not trade on huge capital eg 100k to 1m.just few grand will do the work.
do not trust local brokers.do they have millions usd or euro to run their cycle?well,i dont know.thats peoples choice.

easy,put capital that trader can manage.trade,after profit few k withdraw.start back from started capital.after few month broker started hate u,then many problem appeared smile.gif
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Yes it's not a game of beating the market any more, it's become a game of beating the broker smile.gif

wodenus
post Jul 17 2012, 01:09 PM

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QUOTE(Sham903n @ Jul 17 2012, 11:56 AM)
yeah my point is.. there is someone like that
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Actually 10 pips a day is not a lot.. depending on the pip value. It also depends on how many lots. And how many lots depends on how much money you have. That's why I said, more money is easier. Money makes money, more money makes even more money... until the broker starts the dirty tricks, otherwise you will bankrupt him smile.gif

but 10 pips a day... is manageable.smile.gif


Added on July 17, 2012, 1:13 pm
QUOTE(bllc @ Jul 17 2012, 11:11 AM)
as a beginner, knowing that any investment had their own risk.
started to look for someone to manage my fund, as i know i do not have that much of time to trade myself & definitely trade emotionally might be killing me as well.

i came across this company, check on their company website & track record, it's seems good to me - as i wanted to have slightly safe & steady mthly income compare saving in the bank.

can you guys help to feedback on this?
http://www.t1fx.com/marketing/vr5.html
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You don't learn anything if you let that thing trade for you.

This post has been edited by wodenus: Jul 17 2012, 04:02 PM
wodenus
post Jul 17 2012, 04:18 PM

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QUOTE(bllc @ Jul 17 2012, 04:00 PM)
what if my intention is to make additional income per mth. will this b alright for me?  smile.gif
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Well that is hard to say, I've never used an automated bot. If the broker is tracking you, his automated tracking tools will eventiually find the pattern, and then you won't be making money any more.

I myself am still learning, trying to maximize profits. It all depends on whether you can teach a bot to respond to changing conditions smile.gif

wodenus
post Jul 17 2012, 05:06 PM

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QUOTE(bllc @ Jul 17 2012, 04:44 PM)
since they r managing the funds, for sure they will track for me


You have a lot of faith in your brokers smile.gif

wodenus
post Jul 17 2012, 08:32 PM

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QUOTE(bllc @ Jul 17 2012, 08:26 PM)
not yet till i c d profit. haha
but i muz trust them once i engage them, correct?  nod.gif
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I guess.. I wouldn't trust my broker with anything, but then again I'm a DIY kind of person smile.gif

wodenus
post Aug 22 2012, 07:14 PM

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QUOTE(boyvai @ Jul 23 2012, 08:07 PM)
ops,wait up.still full my stomach smile.gif
[attachmentid=2962409]
this is my 2nd account. 100%++ gain profit and still running.30 usd deposit.impossible?pfttt~~!!
consistent?depend on trader,market,news,etc etc.never ending.game.
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The point is not that it's impossible... like I've said so many times in so many places, the problem is broker default. You dare to do this because it's only 30USD, can you make 100% profit with 10,000USD? or 100,000USD? what's the point of 100% with 30USD? Anyone can make more money working at McDs.

Percentages can be misleading. Say instead that you make $1000, or even Rm1000 a day, that makes sense. Otherwise you are just "syok sendiri" right? it seems kind of pointless to me to be risking money when you can make more risk-free.


Added on August 22, 2012, 7:24 pm
QUOTE(mpips @ Aug 22 2012, 07:08 PM)
I use naked trading style.
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Why is your balance chart private? smile.gif


This post has been edited by wodenus: Aug 22 2012, 07:24 PM
wodenus
post Aug 22 2012, 07:49 PM

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QUOTE(mpips @ Aug 22 2012, 07:35 PM)
See it as you like. It is shown now.
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Oh wait.. now I hope I'm reading the chart correctly, you started with 200,000 USD (Rm624,500 at current rates) am I right? no surprise there, money makes money.

It supports my point, the people that are claiming 10% a day or whatever, can't do that with big money smile.gif in the end, all it proves is that money makes money. You still can't make a million with $10.

So what I'm saying is, it makes sense if you have Rm600,000. If you only have $30 you might as well work in McDs, you'd make more money smile.gif


This post has been edited by wodenus: Aug 22 2012, 09:00 PM
wodenus
post Aug 22 2012, 09:27 PM

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QUOTE(poks @ Aug 22 2012, 09:13 PM)
impossible is nothing..
what you see as impossible is limited in your brain..
some people can some can't..
some are born with it, some have to work hard to gain it..
why so serious and negative? you can't do it doesn't mean others can't.
it's all in your mind. no matter what you do be trading or what so ever..
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I suppose if you're a trader, you know about probability. Probability is why I can bet anyone that no one can make ten million from $10. It is not impossible but if you were a gambler, that's the way you bet if you want to make money smile.gif

For instance, it's not impossible that it should snow in this country. But if I were to bet you every day that it would snow, I'd be rich. But then again, it is not impossible that it should snow in this country. It is just improbable.

Nothing is impossible, but many things are improbable smile.gif

If you want to prove to me that it is not improbable, go ahead. But again, based on probability, I can bet you that you won't smile.gif


Added on August 22, 2012, 9:44 pm
QUOTE(boyvai @ Aug 22 2012, 09:10 PM)
only hedge fund manager would trade that huge amount capital.no no for me.


Hedge funds usually trade in millions of USD smile.gif


This post has been edited by wodenus: Aug 22 2012, 10:18 PM
wodenus
post Aug 22 2012, 10:44 PM

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QUOTE(aimank_88 @ Aug 22 2012, 10:26 PM)
poks is right, making money is always about trading system. Whats the point of having 10million in capital but ur trading system sucks?


The point is to make 20 million smile.gif

QUOTE(aimank_88 @ Aug 22 2012, 10:26 PM)
I think its generally understood here in this forum ppl discuss the pips they made rather than amount.


Oh ok. let me join in the fun then.. seems kinda pointless if you ask me, because it seems simple to me. Imma post my pip gains soon smile.gif

wodenus
post Aug 23 2012, 03:02 PM

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QUOTE(kuekwee @ Aug 23 2012, 11:42 AM)
it written there
Deposits: $449980.00
Withdrawals: $1035840.00
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Yes but somewhere along the road his balance dropped to 0, probably changed brokers and redeposited or something smile.gif

This post has been edited by wodenus: Aug 23 2012, 03:02 PM

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