Glad you made some pips.

To jason, welcome to the chat.

I trade using northfinance.com. Gonna put real money into it end of this month.

Start with trading demo account. Find a method that you can practise and stick to the rules of the trading method (rules that tell you when to buy, when to sell).
Trading is like a game. The goal is to win (profits) but to win, you must play by the rules. Like soccer, if you dont follow the rules, you will get red card and will be ejected from the game (lose).

Its the first trading account so better put around USD200 only.

Yaa oanda looks good. I think I'm going to open an account there.

what is this weekend spreads in oanda ? you can trade on weekends ?
If i avoid trading during news hour will that be good ?

If those are the problems, I can live with them. hehe .. gonna open an account.

USD/JPY penetrated it's 3 years high. Seems like a very strong uptrend.

dammnit ... NFP this Friday ... I hate NFP lol.

any broker provides free charts. Just register for the demo accounts.
Northfinance.com

It depends on your skills. Some people make just enough to pay bill and have extra pocket money. Some people live like a king with this income. Most importantly, do not give up, it may take years before you can really live comfortably just from forex trading.


Try reading babypips.com to start learning.

I see. That's why the broker didn't terminate your position earlier. If you use 1:100 leverage, the position would have been liquidated when loss exceeds 100 pips.

The market just opened in Japan, 7 am this morning ...

Charts for today ... (I got so much free time)
GU, USD/JPY - bullish
USD/CHF - bearish

Those are daily charts. Hopefully they gonna crash/fly for long time.



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I dont know the exact answer for this. But it's the same like,
"Is it legal to sell a lot of things online when you don't have business license ? ". Many people has done this on Lelong.com.my or Ebay. They work like a shop when they don't have business license nor pay business tax.



Perhaps, acting as a company that gets other people to invest in forex is wrong. A company need to operate according to the license. He should have applied for license.

This post has been edited by luqmanz: Feb 8 2007, 01:24 PM

I'm buliish on USD/Yen and bearish for Cable. Hope can find a good entry.

I think Vegas is a discretionary trader. It's normal for people with experience to discard the signal sometimes. Perhaps the subscribers are hoping too much on the system when actually it's the experience that makes the most money.


I don't think it's illegal. It's like running business online without a business license (on Lelong.com.my, Ebay for example). Never heard of anyone getting caught trading online but some people got caught running a forex company without BNM forex license.

This post has been edited by luqmanz: Feb 21 2007, 07:14 AM

You cant's open forex company in M'sia.

Forex brokers are like stock brokers. No matter what happens to their customers, they always make money from commission.

I'm still short in USD/JPY and GBP/USD. Good time to make profits.

I hope you guys are making the pips from GBP/USD and USD/JPY. Both are doing great now. Keep an eye on EUR/USD as well. It's going to crash really good (I hope).

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Added on March 5, 2007, 9:53 amAnother interesting point to share.

Market consists of hedgers and speculators. Hedgers work office hours while speculators may work 24 hours.

This morning, EUR/USD and GBP/USD crashed 70 pips at least during Tokyo open. What's weird about it ?

It's weird because the market moved so much without many hedgers presence (Americans and Europeans are sleeping)! It tells you that speculators are very bearish about those pairs.

This post has been edited by luqmanz: Mar 5 2007, 10:01 AM

Hitting the take profit early is ok because you can always reenter the market when you have the chance. What worse is when the market reverse before the take profit is hit.