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 Forex Version XII, Foreign Exchange Market Discussion

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zDarkForceSz
post Jan 27 2014, 12:55 AM

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QUOTE(gxthelord @ Jan 26 2014, 11:12 PM)
Hi guys wanted to ask u guys about something, say if I want to open an account, who should I find? And also all those money earned in forex how do I take the money out?

Currently still studying babypips, and trading demo account. What's the ideal starting amount of capital should be invested? I want to start small and target a profit of maybe 100+- USD and slowly gain capital more in a year or two and adding up more capital in my acc at the same time.

Hope to learn from u guys! biggrin.gif
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1. Forex Broker?

2. Bank TT / Credit Card / Debit Card
zDarkForceSz
post Jan 27 2014, 08:43 AM

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QUOTE(gxthelord @ Jan 27 2014, 03:19 AM)
okay wanna share about this situation about my friend. I'm not sure which broke he is with, but instead of normal MT4, their platform is called OLIM Metatrader 4. Despite the name difference it works the same. The problem now is he want to withdraw his money but dono where to refer. He has tried calling the person that intro him into forex but no response. So how should he proceed?
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Lesson of the day, find a real regulated broker.
Bigger / Older the broker the better.

1. Metatrader 4 is a software by metaquotes. So the OLIM should be the broker's name.

2. But I googled and no result found on OLIM.

3. He must find his broker website. Most broker provide online withdraw / support.

thats all I can help.
zDarkForceSz
post Jan 28 2014, 07:12 PM

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QUOTE(MonsterPips @ Jan 28 2014, 06:44 PM)
for people who wanted to start forex, i think better get a mentor to start.
me myself had a mentor, so when i started i didnt fall to an unreliable broker.
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Mentor? Your friends / family?

A lot so called guru outside, that chew your money and step over your dead body.
zDarkForceSz
post Jan 28 2014, 10:31 PM

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QUOTE(MonsterPips @ Jan 28 2014, 07:47 PM)
not that kind of guru. mine was my officemate. he had been trading for years before i started. tried few brokers himself.

never talked about strategy. his own style.me own style
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good. lucky you got a good friend there.

escape from the hand of devil haha.

alpari uk is good.
zDarkForceSz
post Jan 29 2014, 12:54 PM

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QUOTE(avengers88 @ Jan 29 2014, 11:32 AM)
Read quite a few but still dont really understand. Would appreciate an explanation with easy examples.
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Leverage

I make it simple, lets explain in this way.
1 standard lot = 1.00 lot = 100,000 units = 10.00 USD/pip

EurUsd current quote @ 1.36500
to OPEN a position long / short, you need 136500.00 USD for 1 standard lot with 1:1 leverage.
to OPEN a position long / short, you need 13650.00 USD for 1 standard lot with 1:10 leverage.
to OPEN a position long / short, you need 1365.00 USD for 1 standard lot with 1:100 leverage.
to OPEN a position long / short, you need 273.00 USD for 1 standard lot with 1:500 leverage.

So you understand what is leverage?
It works like a loan from your broker to you.

You use less margin to open a higher value position.

In 1:1 you need 136500.00 USD to open a position for 1 standard lot, but with 1:500 you only need 273.00 USD to open the same lot.
zDarkForceSz
post Jan 29 2014, 12:56 PM

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QUOTE(avengers88 @ Jan 29 2014, 11:32 AM)
Read quite a few but still dont really understand. Would appreciate an explanation with easy examples.
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But be careful using the leverage.
It's a double edge sword.

It helps you in the way, but it also harms you in another way if you suffer a loss.
You can't imagine how much you're losing with that standard lot.
zDarkForceSz
post Jan 29 2014, 01:02 PM

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user posted image
Steady is the key. Never trade big, thats gamble.
Stick to the plan.

Maintain Risk:Reward = 1:2 / 1:3 / 1:4
Never set 2/3/4(Risk):1(Reward) widen your Stop Loss doesn't work it will burn your account.

0.20 Usd/pip +47.9pips during sleeping time.
Don't be greedy, greedy will make you burn.

Good luck and Happy pipping. wink.gif

This post has been edited by zDarkForceSz: Jan 29 2014, 01:08 PM
zDarkForceSz
post Feb 3 2014, 06:58 PM

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Happy Chinese New Year~

FxPro UK cTrader server never jam during news, because I'm using it to trade news. Pepperstone still in testing~
zDarkForceSz
post Feb 5 2014, 11:19 AM

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QUOTE(mpips @ Feb 5 2014, 10:11 AM)
u all got PM
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haha share with me too! icon_rolleyes.gif
zDarkForceSz
post Feb 5 2014, 05:48 PM

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QUOTE(LOMOGRAPHER @ Feb 5 2014, 05:38 PM)
Hi sir, gong xi fa cai!

I am new to forex and still learning about it.

Would you mind to show me some tips? thanks
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go read up babypips.com school
zDarkForceSz
post Feb 6 2014, 12:19 PM

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QUOTE(flowerhorn08 @ Feb 6 2014, 10:25 AM)
So it seems that your recommendations would be brokers in UK and Europe?
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I recently change from FxPro UK to pepperstone.
still in testing phase~

UK broker customer service is better.
Pepperstone i haven't try their cs~
zDarkForceSz
post Feb 6 2014, 12:20 PM

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QUOTE(9kingsir @ Feb 5 2014, 11:15 PM)
gong xi fatt cai to all new and old forex traders....

I am still in holiday mood...

but trading as usual..

DARKFORCE: how are u bro?

hope everyone is having great time trading and happy pipping..

Those who are new to forex.. pls read up in babypips.com
once u finish or dont understand then u can ask few gurus here.

on which brokers u have to use... u can chose your favorites but regulated broker is a must .. stay away from US and australia brokers.
Markets makers also need to avoid unless is CITIpro.

if u r news trader, pls use ECN or tight spreads for better money management.
News trader please dun complain slippage/requote if any cos of volatility.
Technical trader will avoid news trading time.

Newbie should ask why in the hell when the news suppose to bullish but after the news come out still bearish for 8 hours?

Too many question can be ask and need many answer fot that..

Like whats ranging, swinging,scalping, hedging methology, what the pro and cons?

Technical analysis trader:- why in the hell indication show will bullish but still ranging...??

what the inside trading secrets we yet to know?

reading babypips.com is just like schooling but even after finish it wont gurantee u profits.. just like even u have a degreee wont land u a good job..

untill then.... happy pipping
*
good bag some pips home~

zDarkForceSz
post Feb 6 2014, 04:04 PM

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QUOTE(hammerhead888 @ Feb 6 2014, 01:16 PM)
He gave me the EA! will use it soon! Friendly guy!
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Enjoy.
Good luck with the robot.
zDarkForceSz
post Feb 6 2014, 04:04 PM

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QUOTE(cmk96 @ Feb 6 2014, 01:32 PM)
I hv no problem with US broker. Withdrawal can be received within 3 days. Done it many times.
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US broker, small leverage + FIFO rules. not very good for beginner.
zDarkForceSz
post Feb 7 2014, 07:34 PM

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QUOTE(mpips @ Feb 7 2014, 07:24 PM)
Happy pips with NFA
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bro NFP you mean lol
zDarkForceSz
post Feb 8 2014, 09:01 AM

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QUOTE(kevler @ Feb 8 2014, 05:53 AM)
going for long on GJ , will activate trailing stop next week.

user posted image
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Bro welcome back. Berape bulan x nampak dah.
zDarkForceSz
post Feb 8 2014, 10:17 AM

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QUOTE(mpips @ Feb 8 2014, 09:34 AM)
Are you newbie?

Read what time he posted.

I believe it was due to NFP whereby some bruket brokers disallow pending order if the market is volatile and has fast moving prices.
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Relax~
Just because of the broker too cheapskate.
Change a broker everything solve~
zDarkForceSz
post Feb 10 2014, 12:23 PM

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A new week. lets go~
zDarkForceSz
post Feb 10 2014, 09:54 PM

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QUOTE(qwertyuioped @ Feb 10 2014, 09:42 PM)
can EU reach 1.3655? so tempted to close my position now. hand itchy edi..
user posted image
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Attached Image
I'm waiting for the bearish divergence to play on daily.
zDarkForceSz
post Feb 10 2014, 09:59 PM

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QUOTE(TiramisuCoffee @ Feb 10 2014, 09:55 PM)
Better to use debit card or credit card for this? How do we get profit to be credited back to us if we use cards?
Which bank offers the best card for such trading ?  blush.gif
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I think he got wrong.
VISA got VISA own exchange RATE. Maybank debit charges extra 1% for currency exchange.
Telegraphic Transfer is follow bank rate.

Debit card is better, where you can control your spending.
But some broker don't accept Malaysia debit card because our debit card by bank provide no NAME on it.

You just choose to withdraw to debit card, and the money will be back to your bank account. 5-7 working days.

Currency rate base on VISA / Master.

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