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Forex Version 20, Foreign Exchange Market Discussion
Lupine101
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Jan 1 2018, 01:37 PM
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Getting Started
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QUOTE(duplicated @ Jan 1 2018, 12:38 PM) I find it a little contradicting. Correct me If I am wrong. You mentioned that retail traders are taking profit or cutting losses, wouldn't that contribute to more liquidity? Our retail orders won't matter much to this big forex market. Even some orders are likely being traded by brokers in house order book. All brokers are bucket shops, they will collect our orders and either hedge it themselves or pass to banks order book. That's why some brokers have different spreads. Best place to look for liquidity would be the spot everyone is looking at, where bankers hedge funds retail traders would place their limit orders. Example those Big round number, ever wonder why price always linger around these areas or attracted by it? That explains why. Most big players they trade forex just to hedge their exposure in other market, maybe the options, maybe commodity. That's why they tend to hold these positions longer.
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UbuntuClient
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Jan 3 2018, 11:26 PM
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Anyone here knows how to put renko on chart mt4? PM me step by step.
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duplicated
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Jan 4 2018, 12:49 PM
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QUOTE(Lupine101 @ Jan 1 2018, 01:37 PM) Our retail orders won't matter much to this big forex market. Even some orders are likely being traded by brokers in house order book. All brokers are bucket shops, they will collect our orders and either hedge it themselves or pass to banks order book. That's why some brokers have different spreads. Best place to look for liquidity would be the spot everyone is looking at, where bankers hedge funds retail traders would place their limit orders. Example those Big round number, ever wonder why price always linger around these areas or attracted by it? That explains why. Most big players they trade forex just to hedge their exposure in other market, maybe the options, maybe commodity. That's why they tend to hold these positions longer. Thanks for the explanation.
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duplicated
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Jan 4 2018, 12:50 PM
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QUOTE(UbuntuClient @ Jan 3 2018, 11:26 PM) Anyone here knows how to put renko on chart mt4? PM me step by step. Why have to PM. Just reply here so that others could learn. You can use an EA or a script or an Indicator for Renko. Just go to forexfactory and search for renko charting.
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2wenty6
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Jan 5 2018, 05:03 PM
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New Member
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What is the recommended way to withdraw forex profit to MYR? I don't have a foreign account..
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duplicated
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Jan 5 2018, 05:09 PM
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QUOTE(2wenty6 @ Jan 5 2018, 05:03 PM) What is the recommended way to withdraw forex profit to MYR? I don't have a foreign account.. Wire transfer is the best if you do large withdrawals.
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2wenty6
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Jan 5 2018, 05:23 PM
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New Member
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QUOTE(duplicated @ Jan 5 2018, 05:09 PM) Wire transfer is the best if you do large withdrawals. Saw some posting about problem like money getting blocked because of forex income? I'm likely gonna withdraw to CIMB or Maybank. Very new to this so wanna avoid any common pitfalls..
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lordaragorn90
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Jan 5 2018, 10:31 PM
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Getting Started
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QUOTE(2wenty6 @ Jan 5 2018, 05:03 PM) What is the recommended way to withdraw forex profit to MYR? I don't have a foreign account.. i usually use local depositor
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duplicated
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Jan 6 2018, 01:22 AM
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QUOTE(2wenty6 @ Jan 5 2018, 05:23 PM) Saw some posting about problem like money getting blocked because of forex income? I'm likely gonna withdraw to CIMB or Maybank. Very new to this so wanna avoid any common pitfalls.. I think it depends on who your broker is. Some banks have the lists of 'blocked' forex borkers. If your broker is not on their lists then it should be fine.
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UbuntuClient
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Jan 9 2018, 10:38 AM
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QUOTE(duplicated @ Jan 4 2018, 12:50 PM) Why have to PM. Just reply here so that others could learn. You can use an EA or a script or an Indicator for Renko. Just go to forexfactory and search for renko charting. I just move to use BBMA. Seem show good profit.
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UbuntuClient
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Jan 9 2018, 10:38 AM
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QUOTE(lordaragorn90 @ Jan 5 2018, 10:31 PM) i usually use local depositor Most broker like insta, fbs have local depo. Just seek them in fb.
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&pilun
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Jan 9 2018, 10:47 AM
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New Member
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park
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ijamz
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Jan 9 2018, 12:38 PM
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Use Oanda as broker.. Use Paypal for Withdraw..Easy
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UbuntuClient
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Jan 9 2018, 12:40 PM
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QUOTE(ijamz @ Jan 9 2018, 12:38 PM) Use Oanda as broker.. Use Paypal for Withdraw..Easy What is limit paypal to transfer local bank (cimb/maybank)?
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ijamz
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Jan 9 2018, 01:12 PM
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QUOTE(UbuntuClient @ Jan 9 2018, 12:40 PM) What is limit paypal to transfer local bank (cimb/maybank)? I think no more tha Rm10k...otherwise BNM triggered
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duplicated
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Jan 9 2018, 03:53 PM
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QUOTE(ijamz @ Jan 9 2018, 01:12 PM) I think no more tha Rm10k...otherwise BNM triggered Is it RM10k a transaction or per day? Also what's the amount for a month to get BNM triggered? Because if 10k a transaction, one could do a 9k transaction once every day.
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ijamz
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Jan 9 2018, 04:39 PM
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QUOTE(duplicated @ Jan 9 2018, 03:53 PM) Is it RM10k a transaction or per day? Also what's the amount for a month to get BNM triggered? Because if 10k a transaction, one could do a 9k transaction once every day. i think so ..need to check the authenticity of the news. i personally did withdraw small amount only via RHB...RM2k-3K
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duplicated
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Jan 9 2018, 04:58 PM
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QUOTE(ijamz @ Jan 9 2018, 04:39 PM) i think so ..need to check the authenticity of the news. i personally did withdraw small amount only via RHB...RM2k-3K Anyone here could reconfirm? because I am actually afraid to withdraw significant amount regularly fearing the BNM.
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RickRick88
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Jan 10 2018, 09:02 AM
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QUOTE(ijamz @ Jan 9 2018, 12:38 PM) Use Oanda as broker.. Use Paypal for Withdraw..Easy How does Paypal charge for withdrawal to local banks?
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duplicated
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Jan 10 2018, 08:16 PM
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QUOTE(RickRick88 @ Jan 10 2018, 09:02 AM) How does Paypal charge for withdrawal to local banks? About 2 ringgit if I am not mistaken.
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