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 Forex Version 20, Foreign Exchange Market Discussion

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ched6560
post Jan 22 2019, 11:07 PM

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QUOTE(mrdamncool @ Jan 22 2019, 09:37 PM)
Is there a thread for intermediate level discussion on Forex trading? No offence to those interested or just started to learn but often trader fail/lost/quit forex due to lack of support group. Closed group discussion with mix of newbie and experience trader would encourage exchange experience, ideas, strategy and most importantly money management. Like me, I'm still new in Forex and this Feb would remark my 1 year anniversary. I'm able to trade, make some profits but lack strategy which resulted in inconsistency. The best learning is to learn from someone whom senior and been consistent in trading Forex for years. Some even quit their job and focus on Forex.
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Start with babypips.


ched6560
post Jan 30 2019, 12:28 PM

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To learn forex, you can try this method.

Create network. Join free class. Join free seminar. Meet people. Gath with them. Ask for knowledge.

But need to know how to avoid scammer. That all.

ched6560
post Feb 5 2019, 05:04 PM

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QUOTE(paogeh @ Feb 5 2019, 11:17 AM)
I just use IC market , true ECN for EU scalping ,

although i can get 0 spread ,
but the commision of USD7 per USD100k lot , which translate to 0.7pip is eating into the profit !

any good broker for for EU scalping with tight spread ?
thank you
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This is the lowest for EU in market. Cost only 0.5-0.8 pip.

I use Tickmill, the cost just like this. Unless you open VIP acc. Can get around 0.3 - 0.5 pip for EU.


ched6560
post Feb 12 2019, 08:02 PM

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QUOTE(woonsc @ Feb 10 2019, 09:25 AM)
Hi, would love to know what's the best Forex Broker for Malaysian currently?
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You can find info thru website like forexfactory, babypips, forexpeacearmy, etc.

I like to find info in forexpeacearmy. If that broker good, they'll answer any problem there.
ched6560
post Feb 17 2019, 08:56 PM

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QUOTE(paogeh @ Feb 16 2019, 06:08 PM)
Would like to ask serious questions ,

How do u guys transfer back big amount from FX profit ?
Eg USD5K/USD100k  ??

For small amount USD1000 , normal wire transfer should be fine.
Big amount , not sure if local bank would block those transactions .....
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As a trader, to achieve amount withdraw USD 100k per month, It's cannot done overnight or in short time.

It's will happen step by step. When you become a trader, you bank acc must be active. Bank will offer you private banking when you achieve certain amount.

When bank recognize you as a "big client", so, normally don't have any issue.

This post has been edited by ched6560: Feb 17 2019, 08:56 PM
ched6560
post Feb 19 2019, 09:10 PM

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QUOTE(mrdamncool @ Feb 17 2019, 10:21 PM)
Will the income tax come and knock the door? I do have a friend, doing online business got question by the income tax due to sudden increase of money in personal bank account.

They gave him letter for him to testify his transaction at their office in KL.
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Don't wait they knock your door. Just declare as usual.

If trader don't want to declare, how he want buy a car, home, etc.

This is common sense when you have a lot of money.
ched6560
post Feb 20 2019, 12:48 PM

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QUOTE(johnnyzai89 @ Feb 20 2019, 11:03 AM)
for the declaration, doesn't matter if it's trading FX right?

Also the amount is totally up to us or need to back up with statements?
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LHDN do not care what we declare as income, as long as it income, we need to pay tax.

Yes, follow the documentation. Because if LHDN want proof, we need to show them the documentation.

You need to sit down with other trader to know detail about this. The main point is, we need to declare any income that we get.
ched6560
post Feb 20 2019, 12:51 PM

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QUOTE(nebula87 @ Feb 20 2019, 09:30 AM)
Hi fellow traders, recently I have an issue troubling me once in awhile.

I got all my techniques right but always got ruined by some breaking news and made the market moves opposite way.

How do you guys cater this?
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If you technique cannot stand up the news, you need to check news before enter any position. Normally for 1st week of the month, there a lot of news with high impact. So, you can stay aside at that time.

No need to trade 24 hours, just trade when market is ready to give you the money.
ched6560
post Feb 20 2019, 12:54 PM

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QUOTE(lowya @ Feb 20 2019, 12:51 PM)
ofcause it makes the difference

e.g. Fixed deposit income is not taxable.
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that why i said need to sit down to know detail about this.

Income from stock market also no need to pay income. From unit trust, etc.




ched6560
post Feb 20 2019, 02:25 PM

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QUOTE(johnnyzai89 @ Feb 20 2019, 02:14 PM)
hmm interesting.. have you declared before? or do u know traders who have done it before?

the new possible rule of taxing overseas investment is a pain in the ass man
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Yes, i'm declare. I'm hire an accountant company to do it. It easy. They know how to do it.

I read about trader ask about tax here. My advise, let accountant do the job.
ched6560
post Feb 20 2019, 07:55 PM

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QUOTE(johnnyzai89 @ Feb 20 2019, 04:26 PM)
are you a fulltime trader?
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Yes, i'm fulltime trader .

This post has been edited by ched6560: Feb 20 2019, 07:55 PM
ched6560
post Feb 25 2019, 12:54 PM

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QUOTE(mrdamncool @ Feb 20 2019, 09:47 PM)
Same as what my friend did too. At that time i thought he was joking but now i understand the truth.
Do you have recommendation or suggestion list of accountant company can refer to?
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You can call any Secretary company. Or use tax agent.

http://www.hasil.gov.my/bt_goindex.php?bt_...kum=4&bt_posi=1
ched6560
post Mar 8 2019, 10:28 PM

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i already reply to who pm me.
ched6560
post Apr 5 2019, 02:46 PM

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Okay, since a several member pm me about declaration income tax.

You can come an meet me at this seminar. We can discuss about this matter. And also you can join and get knowledge from this full day seminar.

http://bit.ly/seminarforex2019

This is free seminar, sponsor by Tickmill. Not a preview or just a gimmick. Full day with pack with education. Just come and learn.
ched6560
post Jul 2 2019, 08:44 PM

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QUOTE(mrobak @ Jun 25 2019, 08:45 PM)
Hi all!

I need your advice as well. I selected for my first trading NS Forex Broker but now I'm in doubts. How can I check or this broker is not another scammer?
I read a lot of reviews, but sometimes articles and reviews look like advertising for me. Maybe somebody has experience with this broker?

Looking forward to your reply
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Check on forexpeacearmy website.
ched6560
post Sep 1 2019, 01:57 PM

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Okay, i read a lot about regulation. It's good if trader trade with regulation like FCA, ASIC, FINMA, etc.

But, you need to understand this all regulation.

For FCA, if you can trade with leverage 1:30, so, you can choose it.

Then let talk about broker. I use one of broker with good regulation, there a lot of fee that i need to pay. For example, for withdraw, fee is USD 50 for every withdraw. There a lot of fee. So, it not suitable for trader with small capital.

So, when you want choose broker, you cannot aspect to get same facilities when use broker for example with FCA regulation and belize regulation.

That a big different when broker use this type of regulation.

As a trader, you need to understand all type of broker. Then choose it based on you profile.

I use several broker for different type of trading.

This post has been edited by ched6560: Sep 1 2019, 01:59 PM
ched6560
post Sep 24 2019, 09:31 AM

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QUOTE(plsharevme @ Sep 24 2019, 03:00 AM)
Hello, i just register xm? Just saw post pinned at 1st page bankin method with agent is big no..... See the rules of xm if deposit with debit card then if we need withdraw only can withdraw back to the card we use to deposit....... If this couse problem? And bank malaysia will reject deposit or withdraw with xm?
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Refer your IB. That function of IB. Helping trader. Also you can get giveaway when attach with IB. Get rebate, etc.

Tips: If you don't want to get trouble with BNM, try find bank that BNM approve to have office in Malaysia. Find via BNM website.

This post has been edited by ched6560: Sep 24 2019, 09:33 AM
ched6560
post Oct 2 2019, 08:27 PM

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QUOTE(plsharevme @ Oct 2 2019, 08:13 PM)
for beginner of forex game , i just bank in usd250 for testing purpose,
for xauusd 1:100 , standard account , 0.1lot only need margin usd 148.62 ?

then i have total usd250 why it say no enough money at mt4?  or it couse by the leverage show on mt4 is 1:50 couse this?

thanks for all help !! thumbup.gif
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Contract size for XAUUSD normally different from currency. Check contract size.
ched6560
post Oct 2 2019, 09:24 PM

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QUOTE(plsharevme @ Oct 2 2019, 08:44 PM)
then for the leverage why on oanda side is 1:100 , but show on my mt4 is 1:50 ? thanks
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You can check with Oanda. Maybe they have margin requirement or other tnc.

ched6560
post Oct 3 2019, 10:49 PM

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Wait whether EU can break and stay above 1.10000

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