@dreams achiever
to me ur leverage is wayy too high.. i'm having a USD 550 account and i buy at MAX 1600 units..usually 1000 units .. ur having an account that is 20 times larger then my account but ur buying 125 times more than me >< not to say the lots that i buy is the correct amount but urs is a case of over leverage.. in the long term the account wouldn't last. Should be aiming for consistency and slowly gain and build up.. the feeling of getting 20% of ur account in one trade is a great feeling since i've did it myself also.. but one trade wiped out the 20% and that one hurts #%@%#$@%..

This post has been edited by kelvin_tan: Oct 25 2008, 02:29 PM

You are absolutely right. I agreed that i'm over leveraged.
Luckily it is just paper trading only. Not yet jump into real forex trading yet.
Currently using mt4 for demo trading purpose.
I'm still thinking whether to open mini or micro account first. Standard account will absolutely not an option for me.

Anyway, will try to learn from all forex sifus here.

try open micro account 1st....then we see how ur trading with emotion...

Yup. Saw one article from Kathy Lien. It said to learn forex trading is not trade using demo account but instead need to use real money and trade with it. Demo account is just tool to get familiarize with the trading platform.

Maybe will consider to open micro account instead as it require minimum USD250 funding.
I've survey 3 platforms which are:
1)oanda: many trade said this is good platform to trade with. But when i tried the demo, the charting was suck.
2)fx solution: last expo, there is promotion that free USD50 for USD250 funding. Not yet try demo. Spread is fixed.
3)fxcm: demo good.
Can give some opinions about these 3 platforms? Thanks.

This post has been edited by dreams_achiever: Oct 25 2008, 09:01 PM

i'm on oanda.. i can say that the execution of oanda is GREAT because its instant and there are no requotes... the pips are lower at certain times and higher at some times.. i would suggest u check r they registered with cftc and nfa before choosing.. with all the banks going down u dont want to risk ur money..

and one more advice.. demo isn't like the real thing.. in demo i am emotionless because its paper money... the 1st trade i did on oanda using real money i bought only like 100 units because i was so scared.. the feel is different.. in ur case i think micro account is good before going to mini =)
good luck in forex and happy pipping =)

Yup..i checked already. Oanda was registered with CFTC and NFA liao. If not mistaken, it is among top three forex brokers in US.
So, if park money in there should be safe.

Ok, will register with oanda coz my priority are lower pips, faster execution,no requotes is top even though charting not so good.
Mitigation is to use mt4 as for charting purpose
Anyway, thanks for all infos and happy pipping to u

This post has been edited by dreams_achiever: Oct 25 2008, 10:21 PM

If you really want try small, go over fxopen or liteforex, can deposit with even usd 10. Besides, they provide mt4

im using liteforex for a few months now. i would say rather ok. can deposit and withdraw via maybank and get the withdrawal within 30m to 1 day .. not promoting it la .. just sharing ..

liteforex use mt4...???
if it does... im itching to try..
been using demo account for 6 months now..
time for a change...

Thanks for suggestions.

I've checked with nfa website. Seem these 2 brokers doesn't register with them.
It would be risky to keep money inside. I think oanda will be best and safer choice.
USD250 is in around my affordable range for real training purpose(or tuition fees )

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Added on October 26, 2008, 11:50 amliteforex? it is open by local company?
The website is written in B.Melayu. Very rare to see such forex website written in this language

Wah..u guys no need to sleep ar?
In this early Sunday morning, better to wake up late mah since no need to work.

This post has been edited by dreams_achiever: Oct 26 2008, 11:50 AM

correct me if i'm wrong... oanda isn't from US... its from canada...

Ic..well, to me as long as they registered with nfa and cftc then it's fine with me
Btw, i got this link from other website:
http://fxtrade.oanda.com/forex_trading/why...a_spreads.shtml

From the chart itself, i saw huge spreads especially in Friday 5pm EST time and Monday morning(at least 15pips spread for EUR/USD).
I thought they said fixed spreads mean it won't exceed that fixed spreads. Seem in this case, the sentence is not truly represent it.
Not sure whether other platforms encounter this issue?
I thought is ard 2-3pips spread for EUR/USD.

yes. mt4 ...good luck !

i oso dunno. before this my dad bought the 'mesin duit' EA and they recommend using LiteForex because they have local office in kelantan. so i make mini account with them also lor. liteforex is not local ...www.liteforex.org is their main website.

now i was thinking to move to IBFX ..

normal lor . some broker do change the spread when big new and big moves .. especially at NFP

This post has been edited by coldfusionpower: Oct 26 2008, 04:09 PM

i wonder if there are any mobile forex trading for iPhone??

GU m15

I have no biased, And will stay aside from market for a moment. THE drop is too huge, there is no single retracement in our monthly CHART. IT IS TERIBLE


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EU m15


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Next week, will retest new low as Euro consumer confidence, unemployment rate(high), retail sales will be out.
But i couldn't weigh which one is important compare to FED rate cut. If ECB doesn't follow rate cut, ppl would sell USD and buy EUR.

hm..imo, rate cut or not (for ECB), USD and Yen will continue to gain its strength against other currencies. In this period of time, normal fundamentals do not apply, i.e. good report prints = currency gain, bad prints = currency down. Now, everyone is flocking towards the safe haven of USD and Yen - their government bonds, notes, and bills. Both US and Japanese government are well aware of this situation, where a further strengthening of their currencies will cause much more damage to their already severely damaged economy. So, keep all eyes and ears locked into CNBC and Bloomerg, and keep a close watch of historical S/R.

happy trading guys

Guys be alert on wednesday and thursday.. wednesday = interest rate.. thursday = announcement of GDP .. if it contracts... US is officially in recession..

This post has been edited by kelvin_tan: Oct 26 2008, 07:20 PM

Any suggestion/opinion on EUR/USD?? hi kelvin...wat time will oanda start it trading today?