If you understand Malay, I would like to recommend this blog, Belajar Forex BM

swing trader or scalper better?

when i start as a newbie in trading...i like to do scalping...

but.. when i realised be a scalper is quiet exhausted....

i change to swing trading... it's much better for me...

you can choose, which skill u comfortable with...

Why would you need representation when everything is done online? Just like how you are talking to us online WITHOUT even the need to know who we are. With the current technology (combined with old school bank wire transfer), you can start an account, transfer your deposit and start trading in less than a week.

The representation here are IBs and not the broker themselves. IBs are like sales agents for the broker to make things easier. They help you open an account and accept your money to help you deposit into your account, something that you can do in less than 5 mins filling up the bank wire transfer form in Maybank and wait 30 mins in queue to get done. The IB still have to wire transfer your money into the broker who does not have a local account for the IB to do so. That is why they are charging a higher rate as the banks will charge them a wire transfer charge.

Anybody can be a representative of the broker. Some brokers don't even care as long as you can intro new members. The IBs get a cut of your trading and give the impression of it being an MLM (wait... didn't somebody just asked about forex being like an MLM...hmmmm). It is not MLM as this is the only way the IB is paid for their effort of 'representing' the broker and providing assistance and help.

I'm not saying that every IB is bad.. but you have to take your chances and it might be a good place to learn if you have a good supportive IB who is willing to help. You can use it as a stepping stone with small amount as risk or 'tuition fees'. The rest you can learn online.

when i start as a newbie in trading...i like to do scalping...

but.. when i realised be a scalper is quiet exhausted....

i change to swing trading... it's much better for me...

you can choose, which skill u comfortable with...

imo scalping is less stress,exhausted?forex is exhausted job really,no matter what kind of technique you use you still need to be in front of computer all day,except using EA of course,with scalping let say per day you manage to get 10-15 pips per trade = 3 trade average per day x 5 x 4 = 50 pip per week, 200 pip per month not bad at all..

Yes..scalping..is totally make u exhausted, because your execution must be fast enough to take the advantage of the price.

i've used and tested so many indicators (sad to say about 1.5k+ indicators).....finally just use 1 indicator to check whether the trend is still intact or not.

all the overbought oversold indicator all throw out.......

secret is to read the chart (Price Action) and catch the tail.

By the time your indicator ask you to buy/sell i've already taken my profits 

did you normally open order through chart?not using script based?example script that i use when i press alt+a for buy and alt+s for sell and alt+d to close all trade,i;ve been doing this for almost a year without any problem,what broker did you use anyway? 

ps;for swing trader must have alot of experience where to open and close order,otherwise your profit will turn to breakeven or even worse loss...

Scalping is a technique that i use when i start trading as a beginner before, long time ago...so as a beginner at that time, i don't know how to use a script base order...

i'm more comfortable now with swing trading, because i make analysis at various timeframe from M15 to Monthly..

btw i using XE market & Ironfx..

good for you lol,but my brain can't process too much data especially when need to open many timeframe

im using exness

btw could you upload screenshot of your trade history,just want to know how you trade swing 

everybody got different technique in trading, so they can stick with the one that profitable to them....

for the screenshot i already post 3 screenshot at previous page of this thread...

u can check my screenshot back at the previous page...

If I trade forex full-time and if I wanna buy a house/car/etc and I want to take loans, I kinda need like a source of income. I just wanna know any of you guys actually declare your forex profit as income.

Cheers..

Car loan shouldn't be so difficult, if you have 1 or 2 credit card with good credit report and good bank statement it can be done. Buying a property is the tricky part. What i've learn from the past, consult your loan officer.. say he/she said you must at least earn RM 5k a month for you to entitle to buy the property that you want..

then.......

go kawtim your tax for RM 60k a year lo..      all your saving statement is just a supporting document, the key is on the EA form. What's the amount that you declare on it.. 

just my noob toughs

wake up this morning with full of smile lol.
gbpjpy wave b completed?resistance area atm.double top tfh4 or daily chart?
eurojpy daily chart break the resistance already.but look at the highest top at aprill 2011.

elliott wave count on gbpjpy.
wave b probably completed as we can see nice rally down.waiting to complete the C wave and wave 4.maybe 38.2% or 50% fibo?typical correction wave a,b,c.but,if gbpjpy continue further down,harmonic Pattern* on weekly chart is valid.
tayor.

At H4 timeframe i predict, EU will go uptrend bullish back....anybody got their own analysis?

come share..

i don't see up or down.
it's well supported at the same time it hesitate to go up.
if u ask me, i'll skip or i'll short.