Forex Version XIV, Foreign Exchange Market Discussion
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 Aug 11 2014, 03:46 PM
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#1
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Junior Member
51 posts Joined: May 2006  
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Any forex gurus here... i would like to learn a thing or two on trading forex...
previously did not do study and straight into trading... it's like gambling... would like to learn how to win pips... any resources that you can share? |
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Aug 13 2014, 10:45 AM
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#2
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Junior Member
51 posts Joined: May 2006
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how to read market sentiments?
those economic news is very stranger to me... i don't know what is the impact even though the news is available everywhere... |
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Aug 13 2014, 11:31 AM
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#3
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Junior Member
51 posts Joined: May 2006
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QUOTE(haziqnet @ Aug 13 2014, 10:55 AM) to read market sentiment actually are quite hard...many factors need to be consider...person like yellen could give positive impact to USD when she make her speech on economy view... yeah... they problem is... if this person yellen's speech could give positive impact to USD... how should we knows which pairs to trade... is it uptrend or downtrend... when is the best time to trade... stuff like that... |
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Aug 13 2014, 11:38 AM
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#4
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Junior Member
51 posts Joined: May 2006
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thanks a lot for the explanation...
so many sifu here... lotsa things to learn... |
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Aug 13 2014, 11:42 AM
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#5
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Junior Member
51 posts Joined: May 2006
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QUOTE(lowya @ Aug 13 2014, 11:35 AM) it's the actual data released relative to the forecast and previous with respect to it's impact. Taking this for example...5:00am EUR German ZEW Economic Sentiment 8.6 (actual) 18.2 (forecast) 27.1 (previous) (taken from forex factory) What is actual, forecasst and previous means? |
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Aug 15 2014, 09:48 AM
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#6
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Junior Member
51 posts Joined: May 2006
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what is your pick of the day for today? anything that is in your watch list now?
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Aug 19 2014, 09:53 AM
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#7
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Junior Member
51 posts Joined: May 2006
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still unclear whats the difference between buy and sell....
for example, let say the economics depicts that US is good but Japan is otherwise... Should i take buy or sell for USD/JPY?? |
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Aug 19 2014, 09:53 AM
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#8
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Junior Member
51 posts Joined: May 2006
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care to share the signal of the day??
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Aug 19 2014, 11:00 AM
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#9
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Junior Member
51 posts Joined: May 2006
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QUOTE(haziqnet @ Aug 19 2014, 10:45 AM) look at the currency pair...which currency comes first...for example EurJpy...Euro come first so thats mean Euro is for buy entry and JPY for Sell entry... ohhh... thanks for the explanation...so in ur example above, if the economy impact on US is good then u should put a buy entry...but if the economy impact is strong on JPY meaning u need to entry SELL....hope u can understand... the SELL indicates u buy that currency... because sometimes i got confused... because in the trading station... it shows as below? currency pair | sell | buy | spread therefore it makes me assume as below SELL --> USD / JPY <-- BUY |
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Aug 19 2014, 02:09 PM
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#10
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Junior Member
51 posts Joined: May 2006
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QUOTE(zDarkForceSz @ Aug 19 2014, 01:46 PM) USD/JPY using your example,if you press SELL, means you selling USD and buying JPY. When you close your position, bought USD and ssold JPY. if you press BUY, means you buying USD and selling JPY. When you close your position, sold USD and bought JPY.  In simplest way, Sell A & Buy B. When you closed, you Bought A & Sold B. and vice versa. Spread is the the gap between asking price and bidding price. Bank earn from that. USD/MYR (Maybank exchange rate) Like we go local bank eg. Maybank exchange rate: 1 US Dollar Buying 3.1155 MYR Selling 3.1945 MYR Spread = 0.079 MYR = 790pips USD/MYR (Maybank exchange rate) Like we go local bank eg. Maybank exchange rate: 1 US Dollar Buying 3.1155 MYR Selling 3.1945 MYR Spread = 0.079 MYR = 790pips does that means when US market is strong and Malaysia market is weak, we should go for buy? this means we are buying 3.1155 MYR at during the open... then when close... probably 1 US is sold for > 3.1945 MYR... then we earn the differences? |
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Aug 19 2014, 04:45 PM
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#11
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Junior Member
51 posts Joined: May 2006
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i have a micro account but i dare not exercise first because still lack of confidence...
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Aug 19 2014, 05:37 PM
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#12
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Junior Member
51 posts Joined: May 2006
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Noted... the things that you mentioned - stochastic, zig zag and currency strength meter... is it a third party apps?
where to get it then? |
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Aug 19 2014, 11:20 PM
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#13
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Junior Member
51 posts Joined: May 2006
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QUOTE(9kingsir @ Aug 19 2014, 09:39 PM) i m not prefect... Don't enter twice does that means even if we think the currency is heading to the direction that the analysis shows, we don't do buy/sell two times?but i gain most of the time.. No perfect strategy.. only mindset... Gamble on news is a dead wish.. clear your mind.. dun do silly mistake... too close pips dun enter 2 twice.. point a n b must be 15 pips minimum.. what if the currency really goes to that direction? then missing the opportunity right? |
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Aug 21 2014, 02:35 PM
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#14
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Junior Member
51 posts Joined: May 2006
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alone here... still dunno which pair to trade and how to apply correct analysis...
you do in groups? physical meeting or virtual meeting? |
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Aug 25 2014, 10:09 AM
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#15
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Junior Member
51 posts Joined: May 2006
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QUOTE(9kingsir @ Aug 25 2014, 06:08 AM) me based in Petaling jaya ... need fees ka to join group?F2F ada...banyak orang datang.. |
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Aug 27 2014, 09:15 AM
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#16
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Junior Member
51 posts Joined: May 2006
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pips = profit right??
no pips no profit... |
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Aug 27 2014, 11:50 AM
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#17
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Junior Member
51 posts Joined: May 2006
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understood... good illustration there...
do you normally trade after the news? sometimes when i observe... news showing good economic report but the currency is heading the opposite direction... why ar? |
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Aug 27 2014, 12:49 PM
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#18
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Junior Member
51 posts Joined: May 2006
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QUOTE(demolationz @ Aug 27 2014, 12:47 PM) Its all about Actual, Forecast and Previous bro. Are you looking towards Actual Value only ? yes yes... you are right... from the forexfactory... it sometimes indicate if actual > forecast = good economy... or vice versa... doesn't it means as it is? |
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Aug 27 2014, 06:31 PM
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#19
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Junior Member
51 posts Joined: May 2006
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QUOTE(mariochuah @ Aug 27 2014, 06:08 PM) I just deposit 15k usd into the account. Wish me luck damn you are rich...!!! |
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Aug 29 2014, 03:38 PM
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#20
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Junior Member
51 posts Joined: May 2006
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is forex taxable by Hasil?
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