http://www.babypips.com/school/

close and re-open chart

hey bro, for complete beginner start reading school section at babypips.com & check out my signature

hafifee, you cant make everyone believes in elliot wave.. yang ada jodoh dengan elliot tu.. just be grateful if the technique works for you, for those who doesnt believe, its your own choice. but alternative/optional approach of trading is always available, as long as they can make money, everything else doesnt matter.

bro.. look here, http://www.investopedia.com/articles/technical/111401.asp

need more info, just ask uncle google..

This post has been edited by jong52yuara: Sep 26 2007, 10:56 PM

nobody can gives you accurate answer in trading arena. we only can give example.. let me explain one..

1st step - open a mini fx account with $100 dollar
2nd step - look at chart, and you'll know everyday currency are moving up and down at least 50 - 100pips
3rd step - assume open trade your position with $1 per pip (THAT IS VERY HIGH RISK for small account)

$1 dollar per pips means, as long as market move 1 pips, youre making/losing 1 dollar per pips.

- if you think market is going up, you BUY, then price move 1 pips up youre making 1 dollar, move 2 pips up, youre making 2 dollar, up 20 - 100, youre making 20 - 100 dollar.

- if you think market is going down, you SELL, then price move 1 pips down youre making 1 dollar, move 2 pips down, youre making 2 dollar, down 20 - 100, youre making 20 - 100 dollar.


CALCULATION, assume you only have to grab 2 pips each day. sounds easy isnt it? (not really ) that means 2 dollar per day.

1 week = 10 dollar per week
1 month = 40 dollar per month


so.. 40/100 = 40%

youre making 40% this month

This post has been edited by jong52yuara: Sep 27 2007, 09:49 PM

there are lots of broker choice available at fxstreet.com
nothing is perfect, you'll learn from trial and error..

This post has been edited by jong52yuara: Sep 30 2007, 12:16 AM

yes, sell gbp/usd is selling gbp and buying usd at the same time.

your account balance does not denominated in which country, its just a number for the broker. although it still have to some how, generally just in US dollar.

all the transaction in your account is automated, and when you have order, they convert your trade to which you wanted. for eg : buy gbp/usd, they use your us dollar, convert the money, buy gbp immediately and hold it until you close the position.

assume youre in profit now, you going to close, right? since youre holding gbp now when you close, they will exchange that amount of gbp back to usd, since now due to depreciate usd against gbp, when you exchanged it back, you have more US dollar now (thats your profit)

for sell gbp/usd, its just reverse of the above process.

all of these transaction is done by computer and happens instanteously. i suggest read babypips couple of more times.

This post has been edited by jong52yuara: Sep 30 2007, 08:00 PM

i think MV = Marketiva

yes, spread is the difference between bid and ask price. in fx trading, broker actually accepts commision but they dont call it commision like as stock trading, we call it spreads.


for eg : a base price for a pencil is RM1.00 for the broker, so you/me & everybody else wanted to make money with trading, right? therefore we expect the price for pencil possible will go up(more than RM1.00 and above) so now lots of people will buy at the low price.

however broker isnt that stupid will just let you buy that pencil at RM1.00, therefore they have a quote price & sell it to you at higher price. for eg: RM1.20, so that 20 cents is the broker's profit. the example i gave is like normal trading, so in forex, we are speculating on currency exchange rate. concept of trading never changed anyway..

This post has been edited by jong52yuara: Oct 2 2007, 01:14 PM

im not sure either bcoz im not broker, try get complete answer from your broker. this is just my view, for sell gbp/usd, when you opened your sell order, some part amount of your money (usd) will be put into their gbp/usd trade system.

assume the price keeps falling and you think you got enough profit, and you want to close order, right? when you close, they will take that amount of your usd, convert it back to gbp(thats profit), due to depreciate rate of gbp you will have more gbp now. since your account is in usd balance, they use that more amount of gbp convert back to usd again.

This post has been edited by jong52yuara: Oct 2 2007, 02:06 PM

even the world's best trader have losses, as long as you have a strategy that win ratio is higher than losses, you'll be fine. just becareful dont overtrade.

depend how much you willing to risk? for eg: u put 1 dollar per pip in the lot size, thats either you make/loss 1 dollar per pip moves..

you also can put 10 dollar per pip, but with $250 most likely the broker wont allow you to bet that much per lot. its not about how much money you can make, learn how to catch the trend is more important.

This post has been edited by jong52yuara: Oct 15 2007, 07:25 AM

im not pro, but thats kinda hard question i think, there are several types of trader. for eg : home-based trader, corporate trader, bank/institution trader.

i guess youre asking how much home based trader can make, its all about how much risk you willing to take, isnt it? in my opinion, experienced trader at least can make 50% per month, just multiply that number with 5/10k (or even more!? who knows..) then you have the answer. if you want to be pro trader, i suggest learn Elliot wave too.

http://forum.lowyat.net/topic/369676/+1720#

i think lots of pro trader in sg, try ask that in sg forum or so..

singapore..

btw, additional info.. i guess this japanese guy is quite successful in his home based trading.

info here,

- http://kabushiki-blog.com/article/58486392.html
- http://forexfactory.com/showthread.php?t=51547

This post has been edited by jong52yuara: Oct 15 2007, 08:12 PM

for those who are serious about trading, i think knowing Elliot wave is a must. about the full time trader, just ask uncle google?

i think this would be helpful, http://www.investopedia.com/articles/finan...your_dayjob.asp

im not pro trader, but right now im learning forex full time. there is no tax for income outside the country.. even if you make money from local KLSE stock exchange, there is no tax either. why you worry about tax? is it you made too much money now? lol..

if youre completely newbie to forex, 1st step is read school section from babypips.com first (and my signature). at least familiarize yourself with the platform (recommended is MT4)/indicator/template (in my opinion this would take 1 or 2 month full time, if part-time.. 5-6month? ). check out forexfactory.com & forex-tsd.com forum too

afterward i recommend attend elliot wave seminar, this is for experienced trader. you can learn further how to improve your strategy/trading skills. hope this help.

This post has been edited by jong52yuara: Oct 16 2007, 10:16 PM

not sure about tax either...

forex trading is purely SPECULATION, nobody can guarantees a system (for eg : elliot wave) will work 100%. even the world's best trader do have losses, as long as you have a strategy that has more winning than losing, you should be making money at the end.


depend how much you put in the lot size. US$250 most likely is mini account, so you can put the lot size as low as 1 cent per pip. just do the math if you put 10, 20, 50 cent, 1 dollar, etc etc..

if you gain 50 pip, thats 50pips x 0.01 = 50 cent

in trading business, money is not the problem. if you able to consistently grabbing pips from the market you dont have to worry in near future. its just matter of time before you can achieve your goal or something like that, same with small money. for newbies, i do not recommend putting 1k or large money in the capital, if you dunno what youre doing with your money in the market, its just matter of time before you lose it all...

make sure you dont overtrade, set realistic goal, learn how to remove emotional feeling during the trade, etc etc.. thats my opinion.

some people can make money with certain broker, some people cant make money with the same broker. the best is try search some answers and feedback and forexfactory.com and forex-tsd.com forum..

btw, lots of choice available at fxstreet.com, go check it out.

usually deposit/withdraw money by bank wire.