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 Forex version XVII, Foreign Exchange Market Discussion

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Supreme1394
post Jan 12 2016, 11:02 PM

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GBP continues to go down the drain rclxm9.gif
Supreme1394
post Jan 13 2016, 12:15 PM

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QUOTE(vergil88 @ Jan 13 2016, 12:28 AM)
high impact news?
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Dunno, seems to be retracing heavily now hmm.gif

QUOTE(lowya @ Jan 13 2016, 08:19 AM)
because, most successful traders spent years of hardwork and tens of thousands of screen time before they could achieve it, in the end its a probability game.

If you don't have time to learn forex but are really good in probability calculation, suggest you just play roulette for fast action, with a good money management, you could win much faster than trading as it takes only 1 hour to see the game play results as compared to 1 session (about 8 hours) in forex.
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I agree nod.gif But I'm not a fan of gambling or probability. I prefer forex because I believe price action can tell with almost absolute certainty where price is going for the short term smile.gif
Supreme1394
post Jan 13 2016, 07:53 PM

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I sense GBP going down the drain again, sudah masuk short? brows.gif
Supreme1394
post Jan 13 2016, 09:10 PM

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QUOTE(vergil88 @ Jan 13 2016, 08:08 PM)
masuk when the market open just now. then kena S/L because rebound  doh.gif
masuk again just now. hope continue go down. icon_rolleyes.gif
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There's a way to avoid getting hit by rebound. Wait for price to retrace, then wait for price to confirm that it want to resume momentum. Sometimes price also can go reverse-momentum, which is the opposite direction. Main thing is wait for price to drop hints brows.gif
Supreme1394
post Jan 13 2016, 09:25 PM

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QUOTE(vergil88 @ Jan 13 2016, 09:24 PM)
doh.gif  it cun cun hit my S/L then move resume downtrend. I should put stop lost up abit
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Which pair? Where was your SL?
Supreme1394
post Jan 13 2016, 10:33 PM

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QUOTE(vergil88 @ Jan 13 2016, 10:13 PM)
[attachmentid=5794901]
GBPUSD at 1.4475
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In my opinion, actually your SL is not the problem, but your entry is the one which is not at the right time.
Supreme1394
post Jan 13 2016, 11:28 PM

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QUOTE(vergil88 @ Jan 13 2016, 10:38 PM)
too early? because i put my entry thinking that is the short term support level.
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You have been PMed brows.gif
Supreme1394
post Jan 14 2016, 03:42 PM

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QUOTE(duplicated @ Jan 14 2016, 03:31 PM)
i counter you.

AUD/USD... WEEKLY CHART
BEARISH BREAKOUT

lets see.

Price now 0.6960
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I agree, currently M30 shows price has a high probabilty of breakingout downwards soon. But it could go up also, still too early to tell.
Supreme1394
post Jan 14 2016, 05:03 PM

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Massive price movements now. If all goes well, prepare to short AUDUSD biggrin.gif
Supreme1394
post Jan 14 2016, 05:20 PM

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Not yet missed, wait for 5.30p.m reconfirmation on M30 whether the bar ends weak or not
Supreme1394
post Jan 14 2016, 05:30 PM

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QUOTE(Supreme1394 @ Jan 14 2016, 05:20 PM)
Not yet missed, wait for 5.30p.m reconfirmation on M30 whether the bar ends weak or not
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Self quote lol, M30 reconfirmation fails, halting from entering short whistling.gif
Supreme1394
post Jan 15 2016, 01:29 PM

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QUOTE(duplicated @ Jan 15 2016, 01:12 PM)
possible.
ringgit people thought will stop at 4.0. now already 4.3
oil people thought will stop at 50. now already 30
i though i can be a millionnaire by this year. now i am broke.
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Relax bro, still got another 11 months for you to be a millionaire icon_idea.gif
Supreme1394
post Jan 15 2016, 03:30 PM

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Looks like AUDUSD is having a tough time breaking the resistance at the bottom. Expecting a heavy retracement if price really still wants to go down...
Supreme1394
post Jan 15 2016, 04:31 PM

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QUOTE(Fork @ Jan 15 2016, 04:15 PM)
AUDUSD DDD!!
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Sudden downward momentum, hmm. Carefull of possible retracements.
Supreme1394
post Jan 15 2016, 07:02 PM

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QUOTE(CallOfLegend @ Jan 15 2016, 04:56 PM)
AUDUSD TPed @0.6906 smile.gif
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Bravo rclxms.gif I couldn't find an entry yet, still waiting for retracement sad.gif
Supreme1394
post Jan 18 2016, 03:49 PM

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QUOTE(OmiCatFace @ Jan 18 2016, 03:25 PM)
sorry to hear that but that is quite a sad case to see... but I am using the Demo account now and has been with it for almost a month now while doing some research and studies on chart analysis. usually can get 10-20pips whenever I try the Demo in that day. I still havent really  got the full confidence yet but I would like to know what is the choices I have now. Hopefully in the next 2-3months, I can start an account.

So, any ideas on the broker guys??
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I'm using ICMarkets. Don't start a live account after a few months of demo trading. Because the market changes and you can't possibly know how the market works in that short timeframe.

I was like you, demo traded and grew my account up to 100% after a few months of trading. Thought I knew what I was doing then jumped to live trading. That's when my losing streak began, unfamiliar market environments got the better of me. Thankfully now I've found the light at the end of the tunnel.
Supreme1394
post Jan 18 2016, 05:47 PM

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QUOTE(OmiCatFace @ Jan 18 2016, 05:09 PM)
I see... Thanks for the info. I do understand n heard some of the story that many did successfully in Demo but then failed when doing it Live. Maybe is due to the emotions when v r playing with real money that is why.... that's why many of them says that come out with the capital which you are ready to loss; not thinking on how much you are going to loss...

Any tips on how and when i should starts? And then again, any good suggestion on Forex brokers in Malaysia?
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Yes, I agree some people find it harder to manage their emotions when trading live. But even while I was trading demo, I treated it in all seriousness as if I was dealing with real money. Had sleepless nights trading demo too, that's how serious I was tongue.gif But again my undoing was that I just didn't have enough experience before jumping into trading live.

In my opinion, you should at least try demo trading for 1 year, at least at the end of it if you're still profitable consistently then you can go live. Or if you really have money you're willing to lose, then there's nothing stopping you from trading live as well.

I don't know about forex brokers in Malaysia, mine is based in australia. But XM seems to be the favorite here in this forum.
Supreme1394
post Jan 18 2016, 07:56 PM

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QUOTE(Pinnacle1295 @ Jan 18 2016, 07:48 PM)
Correct! Prices are normally quoted in 5 decimal places. For YEN associated pairs, they are quoted in 3 decimal places.
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Betul!

QUOTE(vergil88 @ Jan 18 2016, 07:50 PM)
icon_question.gif why mine is 4 decimal point and for YEN pair is 2 decimal places?
related to lot size?
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Time to change broker then brows.gif
Supreme1394
post Jan 18 2016, 08:16 PM

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QUOTE(vergil88 @ Jan 18 2016, 07:50 PM)
icon_question.gif why mine is 4 decimal point and for YEN pair is 2 decimal places?
related to lot size?
how about your pip? it's 0.0001 or 0.00001
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This is the universal rule :-
0.0001 = 1 pip
0.00001 = 1 pipette
Supreme1394
post Jan 18 2016, 09:01 PM

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QUOTE(vergil88 @ Jan 18 2016, 08:56 PM)
EURUSD spread 2 pips  ohmy.gif
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wow, it means 20 pipettes? That's HUGE shakehead.gif I think you should change broker man, cause even your demo experience might be bad.

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