I have issues with my Maybank Premier account (one of the first internet based bank account with no book and branch) when it comes to transferring money with SWIFT codes back to Maybank. Maybank only gives me the MBBEMYKL swift code and HQ address as branch address but transfers still can't go through. I've even asked a friend in Australia to test and they get errors from their aussie banks.

I asked my friend in Australia to do transfer to my account, from his online banking no matter how he tries, it expects him to enter the 11 digit SWIFT MBBEMYKLXXX when Maybank is chosen but I only have MBBEMYKL as the swift code given to me by Maybank (after asking Maybank) because my account does not have the last 3 digit bank branch code. Not sure if this is an australia thing. My current broker in Malta does not have this issue but sometimes it fails for no reason. So I'm thinking of changing brokers after all these years.

Blocks have to come from individual ISPs since we are not using a national DNS. I use google DNS on TIME with no issues with any kind of blocks. I know TIME does block some but not all the sites that TM blocks.

I still can't believe Malaysia regulated bitcoin trading before forex.

Is Singapore a foreign country?

Yes... then by definition it is offshore.

If he is not soliciting for money, it is not against the rules. Anyone who trades forex knows what a Copy Trading is. I'm sure even if he is not asking people to PM him, anyone who is interested would already done so since there is no restriction to PM him directly. Some traders are keen on copy trading and if it is offered for free and consistent without cost, why not. The world needs more free things.

They are not legal either. No difference from using IBs in the eyes of BNM.

Exactly no difference from middle man aka IBs. These are the issue that give forex a bad name with unauthorised local acceptance of money.

That is why percentage is all that matters, not the total amount of the account. There is a famous saying, if you can't make money with USD100, you can't make money with USD100K either. Who cares about the amount when the copy trade comes from a winning percentage. Whether it has a USD100 account or USD100K account, 40% win is 40% win. A USD100 can withstand a 50% draw down the same way a 100K account can, the only difference is how much sleepless nights you are going to get.

If the copytrade is bad, the only person making money is the broker. The person providing the copy trade does not and if they have a history of losing, who is going to follow them? You only follow winners. Of course winners can become losers and this is where consistency comes in when deciding on who to copy trade. You don't want to follow some who has 40% win in a month, -30% in the next and then up 50% and down another 20%. That is not consistent and just a matter of time before getting caught in a bad cycle.

Not sure what you are asking about since they all are easy deposit and withdrawal. Just a matter of a few clicks on the internet unless you are referring to local bank deposit/withdrawal then no regulated broker is doing this.

13 wins against 3 losses. With that type of win rate I thought you'd be in for larger profits. The emotion monster is tough to tame?

I can see that. I don't see any TP and SL on your trades which means you are trading like those youtube live traders where they scalp trades with 200-300 pip stop loss (might as well not have one) for a profit of 10 pips and they maintain a very nice Win Loss ratio because they can hold very deep drawdowns until the trades reverses.

I just realised in your post above you won USD19 (didn't count cents as that is not shown) while you lost USD 18 (I assume those were scalps gone wrong as they were left open for weeks hoping for a reversal).

So did your friend tell you how much capital did they have to do the USD100 per day? The keyword here is how much capital do you have to trade? Trading is like a business. You need capital to do the business. The difference is like a Ramly Burger stall owner vs Franchise holder for McD Malaysia. To get USD100 per day is easy when you have a USD100k funded account. I mean that's only 0.1% per day. If you only have a USD100 account, that is trying to do 100% per day.

Also assuming that your risk is same @ 2% with a 50/50 chance (tembak chance) that you can also lose within the same timeframe. That is also a USD60 lost per day. Forex is the same as stock market. You buy and sell the currency instead of shares. How much you can make per day depends on how much you are willing to risk per transaction.

There are thousands of hours of videos on youtube and countless amount of information on the web. All you need to do is just sort out the fake gurus from the real ones (if you can't do that, then trading is not for you). I've been doing this for 15 years now and the fundamentals of trading hasn't changed a bit and repeated to hell for those willing to learn. It's like picking up a fluid dynamics textbook from the 1960s and the fundamentals are still the same today.

Waiting for Yen intervention.

... and intervention happened. 200 pips GBP/JPY dump.

All I can say is yen is the bitcoin of forex at the moment if you can stomach the interventions that doesn't work. Just punched through another all time low against USD and GBP at 160 and 200 levels.

This post has been edited by sleepwalker: Apr 29 2024, 09:40 AM