pardon me for my lack of knowledge but what is MBS? ><

Mortgage backed securities.

Shouldn't we have new thread? This thread have more than 2500 posts already.

Anyways, I have a question for traders here, especially full time trader or anyone who make lots of money in forex. You don't have to reply here, you can just PM me. I had to create new account for this as I don't want anyone to know what my username really is, you could do the same too. I just need to know about tax on forex income.

Ok. I know that forex income is not taxable but we have to declare the income when we receive it more than 10k (I read this somewhere long time ago). I also read that if you want to bring in more than 50k you have to declare in different form and have to do it directly with BNM. Can someone clarify this?

Also, as long as I keep record on my forex transaction, no one can't dispute me on my money right? What's with the anti money laundering act no matter how much I bring in and how frequently I do that. Is it correct? I can foresee the delay on receiving the money due to declaring it or something but they couldnt take away or froze the money because I have my record is it correct? If I wire 100k USD to my bank account that linked with my forex account will there be a problem?

For the record, I am just curious to know. I am not earning that much currently but I hope I will someday. Can somebody kind enough to answer me on this?

can have more info on oanda !!
where's the company located ,, any branch ,, how u guys started trading in oanda ??

company is based in canada, they accept deposits on most major currencies such as USD,GBP,CAD,CHF and so on. For more info you can checkout their website at www.oanda.com

Regarding how to start trading the process is very tiring and complicated. First the creation of a live account. Then verification of live account based on TWO documents such as IC, Drivers license, Credit card bill and so on.

After verification, deposit money to them. Depending on what currency u wish to deposit, your money may deposited in different banks. For example, i deposited USD and my money is currently being held in JP Morgan Chase in New York. After depositing you are required to fill in a form to notify oanda regarding your deposit. If u fail to notify them the funds will just be sent back to the original account. There is no branch in Malaysia though.

Ya, when i made my transfer thru wire transfer. I get charged a RM 12 by our local bank. and another uSD of 30 by their bank. So i guess that is normal.

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Added on September 10, 2008, 4:27 pmAnd sorry for the alot alot of re-posting, facing a super lag internet connection yesterday night.

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Added on September 10, 2008, 4:29 pmI using mt4. When you switch your graph to weekly or monthly. Then you'll get each candle bar stand for a week / a month.

So when tehre is alot of candle, then you'll get more than few years of charts.
Juz test it out with your mt4 and you'll truely understand it. Hehe

This post has been edited by mphpopular: Sep 10 2008, 04:29 PM

ouch? they charge usd30 ?
what bank did u use for local bank ?

Doing your own mql4 programming?

anybody thinks euro will continue dropping below 1.4 ?

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Added on September 10, 2008, 6:36 pmedit.. 1.41 > < seems to be a support line on 1.41.. minor one though..

This post has been edited by kelvin_tan: Sep 10 2008, 06:36 PM

haha..nicely said. People are much relief now than the previous situation. Lehmen Brother's stock is actually at +4% from a -5%.. be cautious on EU's bear move guys..

EU still seem to be unable to breakthrough 1.41

hm...too much of big shadows in EU 5m...better go watch tv first, see what wall street will do at 9:30pm...

tonight EURUSD very choppy.

could it be that they r recovering ?

my interbank charge 21usd..

EU hit the fib zone nicely and now retrace. No idea how high it will go. If it hit the 38.2 fib retracement level again, good chance that it will move down further. Looking to see when it will move to the next fib zone.

60 pips in the pocket today. Nice.

Nymex crude oil will drop below 100; supply way too much, demand decreasing way too rapidly. Check the 4hr chart.

Euro and Aussie will drop to new lows tonight or tomorrow.

I hope so but seeing that EU has already reached it 61.8 expansion level, it should retrace a bit before further move down to the 100 level. I am out for now.

Yes, totally understand your point here. But fundamental wise, oil is headed to new lows, along with euro. Not too sure how much, but USD 99 for nymex is very possible

time for a new thread,.. the post exceeded 2500 already.. anyway 1st day of my life account

made 1% ROI.. hopefully its consistent