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 Forex Version XI, Foreign Exchange Market Discussion

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chloe_lim
post May 2 2013, 05:16 PM

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Btw, anyone heard about RCFX?
Quite popular recently,
but to me is like another scam.. zzz
10k initial set up, 30k robot trade..
boyvai
post May 2 2013, 05:17 PM

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QUOTE(jackpro41 @ May 2 2013, 05:08 PM)
yes, understand boss.
mind i know which 1 u using? meta4 as well?
n the pip means is gap of 3 right?

really glad to have some1 respond to my doubt =)
*
most broker offering mt4 as their trading platform.
but few brokers offering their own trading platform such as fxcm,dukascopy,etc.
but for starter mt4 is good for u.explore. trading not playing.lol

jackpro41
post May 2 2013, 05:46 PM

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QUOTE(boyvai @ May 2 2013, 05:13 PM)
for those who dont know where to start,how,etc2.this might help.
Babypips.com
Forex start
good luck  smile.gif
*
got it. let me write it down

QUOTE(chloe_lim @ May 2 2013, 05:15 PM)
i'm also consider newbie la..
just hope im wont give u the wrong info.

i use wellington, but wellington also under mt4,
wellington is broker, while mt4 is a platform.
most of the broker are under the same platform which is mt4

example of pip and pipette:
If EUR/USD moves from 1.3160 to 1.3161,
that .0001 USD rise in value is ONE PIP

but for some broker,
If EUR/USD moves from 1.31601 to 1.31602,
that .00001 USD rise in value is ONE PIPETTE

spot differences?
*
yup, pip is .0001
pipette is .00001

i guess pipette is better for me. low risk & loses incur if anything happen

QUOTE(boyvai @ May 2 2013, 05:17 PM)
most broker offering mt4 as their trading platform.
but few brokers offering their own trading platform such as fxcm,dukascopy,etc.
but for starter mt4 is good for u.explore. trading not playing.lol
*
yaya...either strike me to heaven, or drag me into hell. XD
babycry123
post May 2 2013, 08:55 PM

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Don't trade on Mobile guys... or you'll be like me.

I open an trade Sell Eur/Usd and it goes well of course, if it didn't, I wouldn't opened it. I didn't aware that my hp is going to finish the battery. Just 3 minutes after I get my charger, from Profit 70 usd went down to -170 usd zzzzzzzzz. "I haven't habis takut sampai now" <--- Chinese.
Wahhhhh, what a horrible moment.
qwertyuioped
post May 2 2013, 09:01 PM

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QUOTE(babycry123 @ May 2 2013, 09:55 PM)
Don't trade on Mobile guys... or you'll be like me.

I open an trade Sell Eur/Usd and it goes well of course, if it didn't, I wouldn't opened it. I didn't aware that my hp is going to finish the battery. Just 3 minutes after I get my charger, from Profit 70 usd went down to -170 usd zzzzzzzzz. "I haven't habis takut sampai now" <--- Chinese.
Wahhhhh, what a horrible moment.
*
Lol the same also if yo use laptop. Moral of the story, always bring a charger!

babycry123
post May 2 2013, 09:08 PM

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QUOTE(qwertyuioped @ May 2 2013, 09:01 PM)
Lol the same also if yo use laptop. Moral of the story, always bring a charger!
*
Really belum takut habis lozzzz
jackpro41
post May 3 2013, 02:05 AM

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can any1 teach me how to operate these few item?

S/L, T/P, instant, pending & volume? =)

thanks sifu




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qwertyuioped
post May 3 2013, 02:40 AM

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pending order is an order u make when the price reaches a specific point that u set.
jackpro41
post May 3 2013, 02:42 AM

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QUOTE(Adam_H @ May 3 2013, 02:35 AM)
Basics  here

S/L  = Stop Loss, If you are going long  or short. Once the market goes through your s/l, automatically will close order. Very useful to avoid large amount of losses. Some robots even uses S/L only and no T/P

T/P = Take profit, if you are going long. your TP should be above you opening prices + spread to get profit. If you are going short vice versa

Pending order = forget already

Volume =  the amount of money per pip you're opening. basically how much money you're going to put in one pip. for example 0.1 volume means that for very movement of the market you might be loosing or winning 10 cents in increment.

already stopped trading , this is what i still remembers
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ya, but i dono how to place it accordingly

such as sell currently at 15, buy currently at 28

how do i place an order based on that?

is it sell must be higher than the purchase price (28) in order to earn and the S/L put below 28?
qwertyuioped
post May 3 2013, 02:45 AM

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QUOTE(jackpro41 @ May 3 2013, 03:42 AM)
ya, but i dono how to place it accordingly

such as sell currently at 15, buy currently at 28

how do i place an order based on that?

is it sell must be higher than the purchase price (28) in order to earn and the S/L put below 28?
*
i honestly dont understand what you are trying to say here. Are you on demo now? you will have much better idea trading demo than reading.
jackpro41
post May 3 2013, 02:46 AM

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QUOTE(qwertyuioped @ May 3 2013, 02:45 AM)
i honestly dont understand what you are trying to say here. Are you on demo now? you will have much better idea trading demo than reading.
*
yup im on demo. haiz. nvm den. let me go through it. will be back soon. icon_rolleyes.gif
qwertyuioped
post May 3 2013, 02:47 AM

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QUOTE(jackpro41 @ May 3 2013, 03:46 AM)
yup im on demo. haiz. nvm den. let me go through it. will be back soon.  icon_rolleyes.gif
*
if you are shorting(selling) , your SL must be few points above your sell price in case the price go up. at the same time u set TP few points below the sell price to lock in your profits. geddit?
jackpro41
post May 3 2013, 02:57 AM

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QUOTE(Adam_H @ May 3 2013, 02:50 AM)
the difference between 15 - 28 is what we call the opening price. difference currency have difference opening price according to the broker

if you are going short/sell/bears. what you're hoping is that the market will go further down south.
if you are going long/buy/bulls. what you're hoping is that the market will go further up north.

if you are selling for example at .9028, you are hoping the market will go down to earn profit. Your SL can be anywhere as long as it is above the opening price. vice versa if you are buying

someone please correct me if im wrong. getting very rusty
*
i think i get some idea from your explanation by now.

if i decide to sell it at .9028, the current price should be somewhere below that by now, which indicates im earning.
otherwise, it will cost me more. right? =)

my english sucks, hopefully u get what i mean =)
qwertyuioped
post May 3 2013, 03:01 AM

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QUOTE(Adam_H @ May 3 2013, 03:50 AM)
the difference between 15 - 28 is what we call the opening price. difference currency have difference opening price according to the broker

if you are going short/sell/bears. what you're hoping is that the market will go further down south.
if you are going long/buy/bulls. what you're hoping is that the market will go further up north.

if you are selling for example at .9028, you are hoping the market will go down to earn profit. Your SL can be anywhere as long as it is above the opening price. vice versa if you are buying

someone please correct me if im wrong. getting very rusty
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you mean the spread?

QUOTE(jackpro41 @ May 3 2013, 03:57 AM)
i think i get some idea from your explanation by now.

if i decide to sell it at .9028, the current price should be somewhere below that by now, which indicates im earning.
otherwise, it will cost me more. right? =)

my english sucks, hopefully u get what i mean =)
*
yeah you basically right. your take profit level must be belo .9028 + spread. say the spread is 3 pips, therefore the price need to move atleast .9025 in order for you to break even. If the price move further down .9025 you are having profit already.
jackpro41
post May 3 2013, 03:04 AM

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QUOTE(qwertyuioped @ May 3 2013, 03:01 AM)
you mean the spread?
yeah you basically right. your take profit level must be belo .9028 + spread. say the spread is 3 pips, therefore the price need to move atleast .9025 in order for you to break even. If the price move further down .9025 you are having profit already.
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QUOTE(Adam_H @ May 3 2013, 03:01 AM)
yes, although to earn profit you should consider the spread....

Forex is actually very simple actually.

If you short/sell/bear. you want the market to go down.
if you long/buy/bulls, you want the market to go up.

Thats all there is.
*
alright guys, how about this

Sell : .93502
Buy : .93517

how i should place my SL & TP?


qwertyuioped
post May 3 2013, 03:08 AM

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QUOTE(jackpro41 @ May 3 2013, 04:04 AM)
alright guys, how about this

Sell :  .93502
Buy : .93517

how i should place my SL & TP?
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SL and TP is depends on you. if you want higher profit put higher TP, if you willing to take highher rsik of losing put bigger SL. Abnd i think you mistakenly use the term sell and buy. The spread should be 'bid' and 'ásk' not 'sell' and 'buy'.
jackpro41
post May 3 2013, 03:12 AM

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QUOTE(qwertyuioped @ May 3 2013, 03:08 AM)
SL and TP is depends on you. if you want higher profit put higher TP, if you willing to take highher rsik of losing put bigger SL. Abnd i think you mistakenly use the term sell and buy. The spread should be 'bid' and 'ásk' not 'sell' and 'buy'.
*
i think i got it once again

current .9028

i put sell @ .9028
if it goes down, i earn, if i goes up = cleaning my wallet

i guess im right this time?
am i? tongue.gif
qwertyuioped
post May 3 2013, 03:15 AM

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QUOTE(jackpro41 @ May 3 2013, 04:12 AM)
i think i got it once again

current .9028

i put sell @ .9028
if it goes down, i earn, if i goes up = cleaning my wallet

i guess im right this time?
am i?  tongue.gif
*
yes. if you put sl at.9038 this means the software will autoclose your positiion and you will lose .9028-.9038=10 points. factor in the spread say, 3 pips, so total loss is 13pips!. If you put TP at. 9018 the software will autoclose your position and you will gain profit .9028-.9018=10 points. also. since the spread is 3 pips, your total profit is 10-3= 7 pips!
jackpro41
post May 3 2013, 03:17 AM

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QUOTE(Adam_H @ May 3 2013, 03:13 AM)
you should either buy or sell at a time according to the market.

shorting and longing at the same time won't get you any profit, although some advance traders do that to minimize the loss they are making.

if you are sellling at .93502 with a spread of 3 pips , you Sl  should be higher than your bid price. your TP must less than  .93502 - .0003 which means at  .93499 you will only break event. if your TP is .93498, you will be earning 1 pip

if you are buying at .93517 with a spread of 3 pips, your SL should be lower than your bid price. Your TP muss be  more than .93517 + .0003 which means at .95320 you will only break event. If your Tp is at .95321, you will be earning 1 pip
*
erm...confuse bro =(

QUOTE(qwertyuioped @ May 3 2013, 03:15 AM)
yes. if you put sl at.9038 this means the software will autoclose your positiion and you will lose .9028-.9038=10 points. factor in the spread say, 3 pips, so total loss is 13pips!. If you put TP at. 9018 the software will autoclose your position and you will gain profit .9028-.9018=10 points. also. since the spread is 3 pips, your total profit is 10-3= 7 pips!
*
i guess im right.
the pips is something like tax or processing fee right?
is a must while i place an order right?
qwertyuioped
post May 3 2013, 03:19 AM

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QUOTE(jackpro41 @ May 3 2013, 04:17 AM)
erm...confuse bro =(
i guess im right.
the pips is something like tax  or processing fee right?
is a must while i place an order right?
*
not pips. but SPREAD. spread is the comission ur broker take each time u trade. broker also want to cari makan mah.
pips=points.

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