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 Forex Version XII, Foreign Exchange Market Discussion

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zDarkForceSz
post Jan 14 2014, 04:52 PM

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QUOTE(project68 @ Jan 14 2014, 02:10 PM)
Was hoping to see some trader here share analysis also, but this thread pretty much dead, i also no mood wan post now  sad.gif
*
You must be new here.
Now is January.
Most trader here is on holiday mood.
Most wait for FEB for stable market and nice liquidity.
zDarkForceSz
post Jan 16 2014, 03:52 PM

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QUOTE(javwa @ Jan 16 2014, 03:25 PM)
Hi Guys
have u heard about FXNET? They giving out 100% WELCOME BONUS now.For minimum deposit $5 on real account u are eligible to get the bonus.the maximum amount for this bonus is $100.

Let say u depo $10 u will get another $10 free..so there will be $20 on ur trading deck to trade.but if u depo $200 u will only get $100 free because the max amount for the bonus is $100.That’s not all.the deposit is also without charge if u guys register with our team.just sms your account no and few other details to us (local ib members) each time u make a deposit for the charge to be refund.Please pm me or visit our blog for details.

**Admin or TS pls let me know if my post is inappropriate for this thread and I will delete it.
    just wanna share this good bonus to all. Thanks.


my call for today : EURUSD bearish target 1.3600
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Good luck bro! thumbup.gif EU broker, not bad.
zDarkForceSz
post Jan 16 2014, 04:36 PM

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QUOTE(javwa @ Jan 16 2014, 04:20 PM)
thanks bro.i just wanna share with all this good bonus promo...for those beginner like me who wanna feels how does it like on live trade..but with less depo required.. .thanks smile.gif .
*
Done doing my warming up trade (demo) for 2014, still have more to come~
Myfxbook Result 2014
zDarkForceSz
post Jan 17 2014, 01:39 AM

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QUOTE(turbopips @ Jan 16 2014, 11:24 PM)
Correlation for GBP/USD with GBP/JPY and EUR/USD with EUR/JPY seems decoupling today .. Any reason?
*
News. Today scheduled quite number of news.
zDarkForceSz
post Jan 20 2014, 03:00 PM

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QUOTE(jayzshadower @ Jan 20 2014, 07:00 AM)
Hey I want to know if i don't use stop loss (i always put 0.000000) what will happen ? Why i realize some of my trade haven't reach my ask profit level then auto sell ? Am i doing anything wrong ? I'm using MT4
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You understand the word "Stop Loss" from its simplest meaning?
IE, STOP YOUR LOSS, which served as a target where you willing to risk how much on that trade that control your losses over your margin.

Lets say I trade a standard 1 lot (10usd)
I willing to risk 50pips on this particular trade thats mean my SL is 50pips (500usd).
And my Take Profit target is 100pips (1000usd).

SL save you from MARGIN CALL. It's the simplest risk management.
zDarkForceSz
post Jan 20 2014, 03:04 PM

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QUOTE(keroro0o0o @ Jan 20 2014, 08:38 AM)
wonder why 2 trades you used 10 lots, other trades you used 0.1 lots...10 lots, you must have deep pockets. biggrin.gif
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ain't call deep pockets.
It's call gambling.

One should always control their account margin.
98% retail trader fails. 2% survive.
Never over trade / Chase the wave, that's call gamble.
You can always see that in casino / before any high impact forex news.
zDarkForceSz
post Jan 20 2014, 04:03 PM

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QUOTE(shamsul_LP @ Jan 20 2014, 03:18 PM)
98% fails, 2 survive. That the key... smile.gif in other word, do opposite what retaik trader do.
*
If this the trick, no poverty in the world.
zDarkForceSz
post Jan 20 2014, 05:22 PM

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QUOTE(jayzshadower @ Jan 20 2014, 04:22 PM)
I do not understand. If I put my SL as 0.00000 ? What will happen ? I thought this mean that no matter how many I lost, system will not sell my purchase ? no ?
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No stop loss = you lose money without limit.
can lose until margin call.

YOU MARGIN CALL = YOU LOSE ALL YOUR MONEY

This is not like stock. You buy 1 standard lot @ RM1.80 = RM18000 only, you can hold the ticket.
lets say drop until RM1.00 you still can take back RM10000.
Unless PN17 and then remove from market then you got RM0 back.

Forex doesn't have TICKET TO HOLD, you margin flow with your profit/loss.
lets say a high impact news came out opposite your direction, you don't have enough margin to cover that loss = margin call. = 0usd in your account.
You lose all your money in the forex account!

IE NO LIMIT ONTO YOUR LOSS. 1000 USD in a sec become 0 USD

This post has been edited by zDarkForceSz: Jan 20 2014, 05:28 PM
zDarkForceSz
post Jan 20 2014, 06:31 PM

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QUOTE(jayzshadower @ Jan 20 2014, 06:17 PM)
I see. I am new to forex. Mean that whatever the case, I must set the SL ? I'm thinking that I can hold the unit forever, because eventually one day it will gonna reach my set profit level. Now I understand, it is impossible to hold a unit forever unless you have unlimited capital in your account, am I right this time ?
*
Yes, is better to set SL. SL is how much you willing to risk for that particular trade.
No SL = LOSS WITHOUT LIMIT. You can lose all your deposit in a sec/min/hour/day/week/month.

You can hold the position, I do hold position for days and weeks.
In forex, you hold a position overnight, either you get pay by swap or you pay swap.

In demo you should have realise that one position losing, your margin / margin level is falling.
once your margin level falls until a certain %, your broker will close all your position, end up calling the MARGIN CALL.
Means you got no more margin in your account to float (support) the position.

babypips.com school. recommend you finish this first.
zDarkForceSz
post Jan 21 2014, 12:42 AM

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QUOTE(blintrell @ Jan 21 2014, 12:37 AM)
jayzshadower

PM me I will teach you a thing or two on forex trading.

I could also be considered as a newbie. I have been trading forex since April 2013. And it has been almost 10 months.

I have since had 2 margin calls and loss the amount of USD 200. USD 100 on two separate occasions.

I started trading after paying MYR 5,000 for a 3 day class that I regard as a hoax and a scam. You can actually learn for free from the internet and still gain profit with a little bit of luck.

~Blind leading the blind~
*
bro, you pay RM5k for seminar? gosh.
You should post here, more people will know.
Too many people get con now days.
zDarkForceSz
post Jan 23 2014, 08:36 PM

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QUOTE(Alissa_1989 @ Jan 23 2014, 06:07 PM)
How was the worst requote price u experienced? I had experience that some brokers requote 15 pips worser than what suppose to get. When I asked the dealing desk, they claimed that they have the right to do so in high volatile conditions.
*
never pick dd broker.
i never gets requote.
zDarkForceSz
post Jan 23 2014, 10:42 PM

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QUOTE(Alissa_1989 @ Jan 23 2014, 08:55 PM)
Sorry, mistake in typing above, not dealing desk, but helping desk (Help Line). It is a non-Dealing desk broker, but STP broker.  the way they requote is sometimes indirectly, either change the spread value even though fixed spread product or put new manual order in a worsen open price that client placed. May need to print to a log file to trace this issue because the execute time is too fast. Anyone see this before ?
*
that is dealing desk broker.
normal ndd won't requote the price, because is instant execution (unless during news slippage is different story).
zDarkForceSz
post Jan 25 2014, 05:26 PM

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QUOTE(CubeLogic @ Jan 25 2014, 05:11 PM)
Hi guys, I've heard alot of great things about forex. I don't really know anything about it. Can someone please direct me to a step by step or some info about it? I would like to try some trading. Thanks
*
There is always a guide in the first post.

1. Forex is a high risk investment, don't believe what you hear.
Most fundamental, low risk - low reward, high risk - high reward.

2. Keep in mind, if you can earn money yourself from forex, why you want to keep introduce it and not put all your effort into it make more money.

3. Forex trading is a long and lonely war.

4. You must fight the market and you internal demon.

5. Most beginner burns their account within days,weeks,months.

6. To begin with, www.babypips.com finish the school.

7. Find yourself a regulated broker to demo. Demo is foc.

8. Don't be shy, just ask question.

9. Lastly, master risk:reward ratio. trade 1-2% of your account per position.

10. Good luck. Have Fun. Happy pipping.

May the god of pips be with you.
zDarkForceSz
post Jan 25 2014, 05:26 PM

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QUOTE(qwertyuioped @ Jan 25 2014, 05:17 PM)
1. read babypips
2. trade demo
3. feel confident, deposit real money
4. mc lose money.
5. repeat from step 1 until profitable.
6. get the eureka moment.
7. become succesfull.

rclxms.gif
*
thumbup.gif

Most important, don't believe those seminar / group outside!
Find yourself a decent regulated broker!
zDarkForceSz
post Jan 25 2014, 05:54 PM

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QUOTE(CubeLogic @ Jan 25 2014, 05:40 PM)
what are pips? and what are brokers? Like those website you guys trade on?
*
Haha so fast got question.

Finish babypips.com school then you will understand.

Pip = a unit to measure the change in the currency exchange.

Eg: EurUsd friday open at 1.36947 & close at 1.36834
The one in red is the basic unit of pip.
1.36947 - 1.36834 = 0.00113 (so called 11.3 pips)

Broker is your service provider.
Like you trade stock, you use UOB, MAYBANK, CIMB, PUBLICBANK, ALLIANCEBANK, KENANGA
Broker provides you the service to trade forex.
zDarkForceSz
post Jan 25 2014, 06:08 PM

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QUOTE(CubeLogic @ Jan 25 2014, 06:03 PM)
what brokers do you retail traders(that's you guys right?) use?
going through babypip now smile.gif
*
there's crazy amount of brokers out there.
find yourself a regulated broker.

i don't like recommend broker, anything i'm not being responsible to.
Personally using FxPro UK and Pepperstone.

alot members here using fxprimus.

just for your research. need not to use what we are using.
zDarkForceSz
post Jan 25 2014, 11:25 PM

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QUOTE(Moonflown @ Jan 25 2014, 11:20 PM)
Avoid Fxpro for now as the minimum trade size is too big for beginners. Pepperstone, FXCM, Fxprimus all have microlots.
*
ctrader yes mini lots.
mt4 did provide micro lots.
so no problem at all.
zDarkForceSz
post Jan 26 2014, 09:05 AM

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QUOTE(CubeLogic @ Jan 26 2014, 02:37 AM)
what is the minimum I should start with?
the bare most minimum you guys would recommend
*
you demo first.
what i can say is the more the better.
you will understand in your demo
zDarkForceSz
post Jan 26 2014, 01:46 PM

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QUOTE(Moonflown @ Jan 26 2014, 10:44 AM)
I'm using it, so I'm sure.
Attached Image

but anyway, I don't use FxPro mt4, as I using the cTrader only.
So find other MT4 broker.

This post has been edited by zDarkForceSz: Jan 26 2014, 01:52 PM
zDarkForceSz
post Jan 26 2014, 01:55 PM

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QUOTE(MNet @ Jan 26 2014, 12:57 PM)
HSBC and Citigroup both suspended foreign exchange traders on Friday as a global probe into possible currency market manipulation intensified.

Regulators from the United States arrived in London this week, stepping up an investigation in which they are working with Britain’s financial watchdog to determine whether traders at some of the world’s biggest banks colluded to manipulate the $5.3 trillion-a-day foreign exchange market.

The investigations center on senior traders’ communication of client positions via electronic chatrooms, which featured prominently also in a probe into the rigging of a key interest rate known as the London interbank offered rate, or Libor.

As the currency investigation ramps up, the banks themselves are scrutinizing their employees more closely and most are now carrying out internal investigations.

Sources told Reuters that Deutsche Bank suspended several traders in New York this week, while US regulators descended on Citigroup’s London offices.

A spokesman for HSBC confirmed the bank had suspended two FX traders in London, but declined further comment.

The two HSBC traders suspended are Edward Pinto and Serge Sarramegna, said a person with direct knowledge of the situation.

Their positions were not known, but Sarramegna has in the past been head of the G10 spot FX desk, according to numerous reports. Both men are listed as active on the UK regulator’s register of financial industry professionals.

The two men could not immediately be reached at their office phones or company email addresses. Sarramegna could not be reached at his home in Essex, 28 miles (45km) east of London.

A Citigroup spokesman said two FX traders had been sent “on leave”.

The Citi traders are London-based Anthony John and Andrew Amantia, who works in New York, a source with knowledge of the matter said. Both are G10 spot currency traders at the U.S. bank.

The source said the men were suspended on Thursday as a result of investigations into chatroom communications.

Neither man could be reached at their office telephone numbers.

Several traders at several banks have been suspended or sent on leave. Citi last week fired its head of European spot foreign exchange trading, Rohan Ramchandani, following a prolonged period on leave, one source with knowledge of the matter said.

Deutsche Bank, Citi and HSBC are three of the biggest players in the FX market.

Britain’s Financial Conduct Authority began a formal investigation into the currency market in October and the U.S. Justice Department is also investigating possible manipulation.

The FCA is focusing on around 15 banks, whom it has asked for – or required to provide – information about currency trading activities.
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There's always a degree of hole to escape such accuse.

Forex manipulation is not as serious as Shares manipulation.

Gold is manipulated but yet no one is being caught so far?

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