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 Forex Version 20, Foreign Exchange Market Discussion

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pravred
post Jul 28 2018, 08:58 PM

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QUOTE(flowerhorn08 @ Jul 28 2018, 02:26 PM)
This is only my thought.

I think some brokers use a local agent or middleman (most probably IB)  here. When the trader want to deposit, he/she will deposit to the agent local bank account. For withdrawal. they will make a request to  the agent and the agent will transfer the money from his/her account to the trader account.
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Thank you for answering my queries. Looks like the agent has to be vet before committing to join. Which broker are you currently dealing? Are there any brokers with good track record?
flowerhorn08
post Jul 29 2018, 09:25 AM

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QUOTE(pravred @ Jul 28 2018, 08:58 PM)
Thank you for answering my queries. Looks like the agent has to be vet before committing to join. Which broker are you currently dealing? Are there any brokers with good track record?
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Most newbies worry about which brokers are safe and reputable, easy to deposit and withdraw money etc..... (me too). Actually these are secondary issues compared to whether you can make money out of it. It is said that 99% of those who dwell into such activities lose money and then complain. That's why our government put a blanket ban on it.

If you are serious about going into this, open a demo account and practice,practice and practice. Once you are convinced that you can milk some doles out of it, then start open a small mini account to see how things really turn out. Results might turn out different as there are differences between demo and real account trading...among them is one physchology state. If one lose out in demo account, one doesn't feel anything but the moment one see losses in real account, one will sweat it out and might does thing differently.

My advice is open a demo account first, any broker will do... FXCM, Instaforex, IC Market, XM amd so on
pravred
post Jul 29 2018, 10:14 AM

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QUOTE(flowerhorn08 @ Jul 29 2018, 09:25 AM)
Most newbies worry about which brokers are safe and reputable, easy to deposit and withdraw money etc..... (me too). Actually these are secondary issues compared to whether you can make money out of it. It is said that 99% of those who dwell into such activities lose money and then complain. That's why our government put a blanket ban on it.

If you are serious about going into this, open a demo account and practice,practice and practice. Once you are convinced that you can milk some doles out of it, then start open a small mini account to see how things really turn out. Results might turn out different as there are differences between demo and real account trading...among them is one physchology state. If one lose out in demo account, one doesn't feel anything but the moment one see losses in real account, one will sweat it out and might does thing differently.

My advice is open a demo account first, any broker will do... FXCM, Instaforex, IC Market, XM amd so on
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Really appreciate your advise, its true learning to trade is important and losing money might encourage wrong decisions. I will open a demo account and follow up with you guys here. Thanks again for sharing your experiences.
SUSMNet
post Jul 29 2018, 10:16 AM

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don't use demo acc as the psychology of trade is different with trading using real account as ur money is in stake
pravred
post Jul 29 2018, 01:36 PM

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QUOTE(MNet @ Jul 29 2018, 10:16 AM)
don't use demo acc as the psychology of trade is different with trading using real account as ur money is in stake
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Yes agreed similar to a game of cards involving money. I will need to practice with demo account before going live. Hope to learn quick.
flowerhorn08
post Jul 29 2018, 09:51 PM

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QUOTE(MNet @ Jul 29 2018, 10:16 AM)
don't use demo acc as the psychology of trade is different with trading using real account as ur money is in stake
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Well, what you said is indeed true. pyschology plays a big factor when dealing with real and demo account.

However, if one is so new to this forex stuff,and not familiar to the platform (most of the time for retail trader,it will be MT4) start trading with demo will get you handy with the icons,keys and tabs in it. And if you have a strategy, if you can't make some money out of it from demo, the probability of earning profit when trading real account will be very slim.

That's why I said,after you have had enough with demo account and have some decent experience and profit, switch to real account (start with small account as most of time this will be tuition fee).

Forex is not a quick get rich scheme. It requires effort, discipline and patience, same as other disciplines. need a lot of works and studies. Due to the low entry barrier, most people fail at this endeavour. And if you find that you really can't control your emotion and cannot dedicate enough time, you can switch to robots to trade.... biggrin.gif
flowerhorn08
post Jul 29 2018, 09:51 PM

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Double post

This post has been edited by flowerhorn08: Jul 29 2018, 09:52 PM
duplicated
post Jul 30 2018, 04:39 AM

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QUOTE(MNet @ Jul 29 2018, 10:16 AM)
don't use demo acc as the psychology of trade is different with trading using real account as ur money is in stake
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Not if you are using a robot.
xXTAUFANXx
post Jul 31 2018, 09:07 PM

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ada masalah kalau keluarkan duit 10k ringgit sehari setiap hari?

This post has been edited by xXTAUFANXx: Jul 31 2018, 09:09 PM
fasionoval
post Aug 1 2018, 03:12 AM

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anyone can recommended me a genuine forex broker with IB ?
cmk96
post Aug 1 2018, 10:37 AM

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QUOTE(xXTAUFANXx @ Jul 31 2018, 09:07 PM)
ada masalah kalau keluarkan duit 10k ringgit sehari setiap hari?
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Best is to refer to the bank... we here main kecik kecik je bang. whistling.gif
pravred
post Aug 1 2018, 09:17 PM

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QUOTE(commoyo @ Aug 1 2018, 08:15 PM)
Hi! it's always difficult to find good broker, that will fit all your needs. Before choosing one, you have to check all infortation about it. Cause nowdays there a lot of scam brokers. You can easily find lots of websites, who have some reviews for brokers. As example, i can advise you to check this https://55brokers.com/forex-broker-reviews/.
I like their reviews, cause they give pretty true conclusion for each broker. The only drawback is that they have little feedback from the users.
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commoyo that's quite an extensive review on the site, I need to pickup certain terms to understand better. I'm currently looking at Forex Brokers for Beginners.
fairylord
post Aug 1 2018, 11:18 PM

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QUOTE(xXTAUFANXx @ Jul 31 2018, 09:07 PM)
ada masalah kalau keluarkan duit 10k ringgit sehari setiap hari?
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Bo's, blh tunjuk ajar how to generate 10k aday? Cemburu leh
jabz
post Aug 2 2018, 10:27 AM

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QUOTE(xXTAUFANXx @ Jul 31 2018, 09:07 PM)
ada masalah kalau keluarkan duit 10k ringgit sehari setiap hari?
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klu tak silap, bank regulation setiap transaksi melebihi 25k ke atau 50k baru trigger to BNM. So klu mmg maintain profitable 10k everyday
no issue...
jabz
post Aug 2 2018, 10:29 AM

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QUOTE(pravred @ Jul 28 2018, 12:49 PM)
Guys I would like to trade Forex. Any recommendation on best brokers around in terms of initial deposit, spread, easy withdrawal etc.
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im using tickmill, spread very low
deposit and withdrawal using local depositor
but rate quite high... 4.5 for deposit and 4.3 for withdrawal
TSdemolationz
post Aug 2 2018, 11:34 AM

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Hi guys.

Anyone have Pending order EA? Like stealth EA one. I cant PO since the level to tight.
fasionoval
post Aug 2 2018, 11:36 PM

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can anyone can recommend me Fxpro or Pepperstone IB ?
xXTAUFANXx
post Aug 5 2018, 01:46 AM

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QUOTE(fairylord @ Aug 1 2018, 11:18 PM)
Bo's, blh tunjuk ajar how to generate 10k aday? Cemburu leh
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tak lah..utk rujukan akan datang insyaallah.. ada kawan2 kata sehari 20k ringgit selamat...ada yg kata had bumbung sebulan 50k.. jadi tak tahu mana benarnya.. ada otai2 share profit sampai hampai 100kusd per trade.. tertanya tanya cammana mereka keluarkan duit yg banyak itu.

saya pun baru forex ni.. cuba untuk mendapatkan konsistensi... baru belajaar satu teknik scalp ni.. nampak meyakinkan dan tak komplikated sangat.
cmk96
post Aug 5 2018, 04:34 AM

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QUOTE(xXTAUFANXx @ Aug 5 2018, 01:46 AM)
tak lah..utk rujukan akan datang insyaallah.. ada kawan2 kata sehari 20k ringgit selamat...ada yg kata had bumbung sebulan 50k.. jadi tak tahu mana benarnya.. ada otai2 share profit sampai hampai 100kusd per trade.. tertanya tanya cammana mereka keluarkan duit yg banyak itu.

saya pun baru forex ni.. cuba untuk mendapatkan konsistensi... baru belajaar satu teknik scalp ni.. nampak meyakinkan dan tak komplikated sangat.
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Memang banyak otai2 tunjuk profit 100k... cuma mungkin itu cent account... sebenarnya cuma 1k saja... jangan tertipu.
solstice818
post Aug 5 2018, 04:26 PM

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QUOTE(fasionoval @ Aug 2 2018, 11:36 PM)
can anyone can recommend me Fxpro or Pepperstone IB ?
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Hit me a pm.

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