hie everyone, i am able to understand only partially of what everyone is trying to say. I have read babypips.com and i have started a demo account with oanda for 6 months.I would like some info regarding

Oanda - anybody using this platform ? is it reliable? are u able to withdraw smoothly ?

Short forms such as EU/MT4 etc. Can anyone be kind enough to tell me what the short form stand for? if possible list out the commonly used ones so i could read and understand more from the discussion.

thank you =)

thanks a lot dr2k3 haha now everything is familiar.. i was wondering wat was eu gu all those but u clarified a lot of matters for me..thanks.. dr2k3 i think i can consider u equipped with knowledge as i c u participate in this corner quite often. Have u tested out oanda? is it recommended to use this platform?if no, what platform would u recommend and why? i am thinking of starting really soon but i dont want to make rash decisions and choose the wrong platform. Do advise thanks =)

Thank you for the advise dr2k3.I understand the that forex is not a one day rich thing and i have experimented with the demo first and all and i have traded with demo for 6 months and there has been ups and downs but i have remained profitable though it is not a big profit. For me now is about choosing the platform that i intend to begin my real life trading account and use that particular platform to get used to it first before starting live. Any feedback regarding any platforms is welcomed =)

thank you dr2k3. You've been a lot of help. I'll research a bit on MT4 since i see many using it.

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Added on August 11, 2008, 2:50 pmoh btw anyone have any experience using paypal? one thing i dun understand is how to we get the money out of paypal. Money in i understand.. Money out i dun understand ><and i've tried reading about it but i have been unable to get info.

This post has been edited by kelvin_tan: Aug 11 2008, 02:50 PM

thank you mphpopular i believe u r addressing me regarding paypal.
I've to look into which is more economical when pumping money into the live account. CC or wired transfer.Wired transfer charges about rm27 i think for maybank.. CC i'm not sure yet

my friend wired his money using maybank he say around rm27 only.. >< i'm not too sure as i lack experience in this things.. rm5 to transfer back? no other fee's ?

can i know where u guys get ur reports for these things ? cnn? bloomberg? or ? newbie here heh.. still demo-ing

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Added on August 20, 2008, 7:24 pmsomething else i would like to ask.. what values do u guys use for SMA and EMA? and whats the point of those values? for now i'm only using the default (14)

This post has been edited by kelvin_tan: Aug 20 2008, 07:24 PM

i notice most of u use MT4 as ur platform. Can anyone tell me why this specific platform ?i read fromt he website u can use any currency as ur general currency ? anyone here using oanda? withdrawing money from mt4 how much does it cost and how much does it cost to withdraw from oanda does anybody know? thanks

@normeck
what about withdrawal of money from mt4? have u made a withdrawal before using this platform ?what are the charges ? sorry if i'm a bit concern bout this small things..problem is i'm a student ..money is tight >< and i'm only starting with USD1k .. so if the withdrawal is going to be a big sum.. its gonna be tough..

Of course i'm prepared to take the risk. But what i dont want is lets say i make a withdrawal and maybe USD20 is used for the wire transfer. I;m starting an account with 1k usd so the potential amount that i can make isn't big. I would like to minimize all cost. But thanks for your advice =) i'm still demo-ing at the moment.

Haha my mindset isn't as strong then. I expect to make losses from the money that i put in but i never think of it as totally zerorized.. i guess i need to have a stronger mindset.

mphpopular.. whats SR ? >< i'm a bit slow in catching up on short forms

ahhh thanks for clarification >< pardon me for asking so many questions.

actually i still do not know how pivot points is drawn.. can someone explain this to me ?

@mphpopular

nice charts =) eliot wave and fibo in ur charts i understand. But what are those diagonal dotted lines ?

This post has been edited by kelvin_tan: Aug 21 2008, 10:36 PM

ahh i'm still having doubt of which broker to open an account with. Anyone made withdrawals with oanda before? i need to know the charges as Malaysia is not in their list of banks that they issue payments to..

this is the final answer i need before i open my live accounts and i dont want to have any regrets about being able to put money and being unable to pull money out..



This post has been edited by kelvin_tan: Aug 25 2008, 03:02 PM

huh? using MT4 and interbankfx? what do u mean?meaning mt4 is an intermediary? i like the tight spread in oanda >< they really honour it (0.9 for euro/usd) but during news it doubles..

how do u withdraw from interbankfx? and how much does it charge? coz i'm starting with a small budget and i dun want the withdrawal charges to be overwhelming.. i know u pay the spread when withdrawing but what about the TT charges?<--- who charges these TT ? assume i want to make a withdrawal from ibfx into my maybank account.. the TT charges are from oanda or maybank ?

thanks a lot askds.. so by using TT u pay rm10 + conversion cost (from RM to USD) and also an additional USD25 ?please correct me if i'm wrong.


On another note, Anyone withdrew before? can you please tell me the charges involved?

oh crap..oanda has USD25 for tier1 withdrawals and USD60 for tier2... and malaysia is not even in tier2.. i wonder if they send funds out of their tiers...=/

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Added on August 25, 2008, 3:45 pmone of the forumers said withdrawals only caused him rm5.. i forgot who..possible meh ?

This post has been edited by kelvin_tan: Aug 25 2008, 03:45 PM

dr2k3 i want to minimize my cost like i said. I'm still a student and USD60 just to pull out my money is quite expensive to me as my account will only have around USD1k.. the USD60 has not even included the conversion cost and etc... if we count it this way..pulling out my money means that i have to pay about 10% of my account.. If i'm starting with USD10k then mayb it wouldn't really hurt..

I'm sure everybody started forex with hopes that this could be a potential source of income and not just as a place where all money disappears.. i understand that many make loses but however i do not want to c myself earning and then paying a big portion to the charges..

sorry if i sound immature but i do have limited funds =(

i'm in office now.. but if i remember right.. go to the FAQ section and type withdrawal. They will have a page regarding withdrawal in tiers (tier 1 or tier 2). Tier 1 is USD25 while Tier 2 is USD60 and malaysia isn't even in that list. So i'm still waiting for clarification on that.

I'm currently in office and somehow i can't access the oanda website from here mayb when i get home i'll post the link up tonight.

There is also a chance i misunderstood how the charges take place.