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 Forex Version XV, Foreign Exchange Market Discussion

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Zanmai0146
post Jun 27 2015, 11:15 AM

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Bullish usd for next week... Wheeeeee <3
Zanmai0146
post Jun 28 2015, 05:46 AM

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QUOTE(emptycube @ Jun 28 2015, 01:30 AM)
Nope, pure price movement scalping. If arbitrage trading, my account will be banned. Ive verified with the broker and they are perfectly fine with it.

How it works is based on previous hourly (up to the last 24 hours) highest and lowest price. Upon breakout than scalp.

Hence the reason need to have ecn account, but ecn account commission does take a bunch of my earnings so far.
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Which broker are u using?
Zanmai0146
post Jun 28 2015, 06:10 AM

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QUOTE(emptycube @ Jun 28 2015, 06:01 AM)
As per stated on myfxbook, im on ECN-Pro NDD account from roboforex
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Sorry, was on mobile view and I don't click into your link. Somehow I agree with u on June is bit slow. But the first week of June is awesome. Make good money from there, but when Greece case came into discussions. It turns side way. Sigh.

If I'm not mistaken we have nfp in this coming week. From every point of economic view, I'm expecting "worst than expected" result from nfp tongue.gif
Zanmai0146
post Jun 28 2015, 06:24 AM

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QUOTE(emptycube @ Jun 28 2015, 06:18 AM)
Exactly bro, made about 12% absolute gain on early june ended up 7% absolut gain late last week. Anyhow, im trading nfp on my fxpro acc, has been with North Finance till it was bought over by fxpro..hence my news trading acc with them, but moved about 50% of my equity to robo for automated trading.
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Making some coffee money too last week. Expecting good July ahead. Hehehe Aiyo. Don use robot la bro. Not worth it, scare u wake up someday balance turns to zero.
Zanmai0146
post Jun 28 2015, 07:05 AM

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QUOTE(emptycube @ Jun 28 2015, 06:29 AM)
Nah, calculated risk, so far so good, i dont have time to monitor, hence i only traded manually on nfp. Not a fan of charting etc etc since im running my own business hence the time spent on there.
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Personal preference la. Good to hear that u making money too but I still prefer manually. Since I'm full time trader, can 90% monitor my position everyday. laugh.gif
Zanmai0146
post Jun 28 2015, 02:46 PM

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QUOTE(hdr088 @ Jun 28 2015, 02:43 PM)
Hi  smile.gif

Just wondering, just want to ask regarding swap


http://www.fxprimus.com/en/instruments/swap-rates

Currency Short Long
EUR/USD  0.4  -1.9

suppose im going long and have 10,000 units (0.1 lot)

1) so if I am holding for 1 night, i will get charged for

USD0.19

2) and supposed that the rate maintain the next day and i am still hold it

thus my rate is USD0.19+0.19
= USD0.38

3) and just wondering if I have Swap free account, I dont to pay any, even if I hold for 1 year?
are all my assumptions correct?

Thanks for your time  rclxms.gif
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Yes, swap free account no need pay. Currently one of my student having swap free account. So envy him, hold for few days no swap charges.

Zanmai0146
post Jun 28 2015, 03:45 PM

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QUOTE(hdr088 @ Jun 28 2015, 02:50 PM)
thanks, and my calculation?

coz just wondering if 0.19USD per day * 356 days = USD 67.64

i might just go for long term if current situation does not favor me rather than close the order and probably have more losses
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Correct, sorry my math is bad laugh.gif
Zanmai0146
post Jun 28 2015, 09:10 PM

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QUOTE(xtreme82 @ Jun 28 2015, 09:03 PM)
Hi guys, just wondering if anyone can clear my mind on some noobie question. Being trying to search the forum but still can't get a concrete answer.

Just got involve in trading forex recently and i find out that is not easy to withdraw money since forex trading is illegal in malaysia. If i am to withdraw money from my US broker FXCM using credit card will i be red flag by the BNM??

Did some searching at forex factory and lowyat forex forum. The answer i can find is to transfer money in small amount below RM10k each transaction. Is this true? What about those trading forex for earning 5 digit a month?

I believe they are quite a number of EXPERTISE here like zanmai & keroro.
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Normally I use local depositor that link with broker. $1500/day max from my broker. So daily about MYR5000. Slowly withdraw.

Alternative way, I withdraw using the debit card given from the broker but charges ridiculous Abit la. Like 5% on top.

But even if u trigger Bank Negara, as long you have your statement from forex. You are legal source of income. They will come find u instead just pay some "tax"
Zanmai0146
post Jun 28 2015, 10:05 PM

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QUOTE(xtreme82 @ Jun 28 2015, 09:30 PM)
Thanks Zanmai for the quick reply. If i remember correctly, you are using fxcm broker ?

As i check in the forex factory, is quite dangerous to declare as source income from forex. i don't mind paying tax as long as i am not investigate under money laundering. LOL.

Thought i am not earning but would like to play safe.
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I'm using xm.com it's on my signature below.
Zanmai0146
post Jun 28 2015, 10:05 PM

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QUOTE(carrer @ Jun 28 2015, 09:32 PM)
Withdrawing more than 10K will definitely alert the BNM. But I am not sure if they are going to take any action. So far, never heard of any incident where BNM take actions on retail forex trader. Only heard of charges on those MLMs and capital poolings only. By the way, trading forex is illegal according to BNM's website unless you trade with the banks.

My advice is to park your money overseas. Singapore is good.
Which broker are you using?
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Xm.com my signature have the link.
Zanmai0146
post Jun 28 2015, 10:10 PM

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QUOTE(xtreme82 @ Jun 28 2015, 10:01 PM)
If i reach a 6 digit level will definitely park there. LOL..  but so far earning enough for monthly expenses.
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Prefer Swiss more than sg. If u can earning that amount, it will be an issue for withdrawal. There's lot of trick u can do in forex. Just depends how you wan to deal with it.
Zanmai0146
post Jun 28 2015, 11:00 PM

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QUOTE(xtreme82 @ Jun 28 2015, 10:13 PM)
Should i said for now is not an issue to withdraw amount less than RM 30k per  month, breaking it into smaller amount maybe each transaction 3-5k ? using local bank or credit card.
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One of my friends, withdrawing everyday. U will have problem soon. BNM will call u. Just wait... Confirm 100%

Then pls make sure your broker provide all the forex statement. Else u will be in deep trouble. Assets got frozen not funny.
Zanmai0146
post Jun 29 2015, 12:09 AM

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QUOTE(xtreme82 @ Jun 28 2015, 11:10 PM)
In that case if i am able to provide monthly forex statement they are good with it? Your friend got no issue with them saying is forex trading income?
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Yes, you are correct. As long not money laundering, is like online gambling. They are illegal in Malaysia but still legal in oversea. So if your source of money is proven. Then you are fine.
Zanmai0146
post Jun 29 2015, 06:39 AM

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Good week ahead. Woke up by then Euro drama finally end. Impressive drop.
Zanmai0146
post Jun 29 2015, 07:10 AM

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QUOTE(KeroroQ @ Jun 29 2015, 07:03 AM)
fkin big drop, worth the wait laugh.gif
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100pips only la. Hopefully keep going down...
Zanmai0146
post Jun 29 2015, 09:08 AM

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QUOTE(Pinnacle1295 @ Jun 29 2015, 08:20 AM)
I am with FXCM. No problem withdrawing US$20K+ fund back into my saving account.
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When was it? Before 1MDB case or after?
Zanmai0146
post Jun 29 2015, 09:13 AM

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QUOTE(Sacrifies @ Jun 29 2015, 08:41 AM)
South to go  thumbup.gif
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Down sumore.. Waiting significant drop from Euro rclxms.gif
Zanmai0146
post Jun 29 2015, 09:26 AM

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QUOTE(Ramjade @ Jun 29 2015, 09:19 AM)
Just out of curiosity, since forex money is from overseas, it cannot be taxed by malaysian IRB right? So you guys declare income tax in the country the exchange is based?

How you guys apply loan to buy house like that?

Then if bank negara come find you, you provide proof that you are getting money from forex, they leave you alone despite it is illegal in Malaysia?

Sorry for long question.
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1. The tax already covered by broker itself. So whatever u get is legal in their end. Something like Bursa Malaysia, you profit from share market and u can withdraw no problem. Even if u earn 100k in few days, you no need to declare tax, because the broker already cover for you. You just need to provide the statement when BNM come and find you.

2. Apply loan? Forex trader all buy cash lor. Hahaha joking aside. As long you proven track record for 3 years or continuously pay for income tax, you can declare and get a loan for that or else just fix deposit? Depends how is your credit record.

3. You are investing not gambling. Even is online gambling, they don't care. They just care MYR outflow to other country and some sort of money laundering. As long got PROOF OF INCOME. This is important. Else all your cash will be frozen by BNM.
Zanmai0146
post Jun 29 2015, 09:28 AM

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QUOTE(-Davidoff- @ Jun 29 2015, 09:25 AM)
Hi all,

Need help from all experience trader base in Malaysia. Which broker provides the most convenient way of deposit and withdrawal with low transaction fees?
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I'm using xm.com. Refer to my signature.

Easy deposit and withdrawal. No transactions fees required. All are FOC for deposit and withdrawal.
Zanmai0146
post Jun 29 2015, 09:42 AM

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QUOTE(Ramjade @ Jun 29 2015, 09:33 AM)
So is it taxable by malaysian law whatever you gain from forex or it is tax free?
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Tax free. Income tax just pay for your convenient in the future for your credit status. No proven credit record hard, unless u willing to buy everything by cash.

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