I'm sure the bank has to make something, it's already charging 1% on top of its buying and selling.

Where is the place to buy foreign currencies in KL? I mean as in they provide the best rates.

No one is going to provide you a best rate at this point. The dealers have lost quite a lot of money from all these volatility.

Heh adam.. i'm still on the short selling biased against EU EJ and GU =) but i'm probably going to stop trading until election.. unless i c an entry that i cannot resist =)

I am releasing my short position tomorrow, and going long. I forsee USD/YEN going back above 100. So i dont' want to play play.

thanks for the tips.. i am looking at a bullish run since stimulus 2 is coming out.. and usually after election there will be a short term bull.. so i can't short anymore.. >< anyway if ur working means u not much time to forex lo?

On the contary, i still trade forex.

EU H1

Daily TF. Major trend is down. But now is retracement time. Means will get bull in smaller TF in H1 and below.

Juz a posibility.


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I see a rally back to 1.32 or maybe above.

xloklokx u already made a bad impression here.. try ur luck somewhere else. I see no reason y i should trust u as u have not even revealead the name of the company you are working for. Only noobs will fall for whatever you are trying to advertise considering your e-mail itself already says you are not professional in what you do

Was decided to join Forex Trading yesterday, so I spent my whole night tutorial-ing the Pre School : Forex Basic on babypips.com.

I was about to find a demo as soon as possible but after a thought I think it'll be better if I completely understand the concept first.

So am I the newbie welcomed here ?

hi everyone, i dont quite understand wat mean by 'market maker' even though i found some answer from web...
is it mean if i trade forex, my broker will 'absorb' my order, even though no match order in market??

if my assumption correct, mean we hv higher possible to get slippage or SL haunted if our trade size is big, since the broker has the risk to match our order?? am i correct?

This post has been edited by jc_shino: Nov 3 2008, 06:55 AM

@mizinvincible
you are most welcome =) we're all here to discuss about forex so if you have any questions please do feel free to ask. Actually reading while demo-ing allows you to understand faster as you have hands on experience.

@jc_shino
Market Maker

A market maker provides liquidity for a particular currency pair and stands ready to buy or sell that currency by displaying a bid and offer price. A market maker takes the opposite side of your trade and has the option of holding that position or partially or fully offsetting it with other dealers, managing their aggregate exposure to the market. Market makers earn their commission from the spread between the bid and offer price.

Forex ECN Broker

ECN is an acronym for Electronic Communications Network. A Forex ECN does not operate a dealing desk but instead provides a marketplace where multiple market makers, banks and traders can enter competing bids and offers into the platform either inside or outside the spread, allowing traders to trade against each other and with multiple counterparties. A trader might open a trade with liquidity provider "A" and close it with liquidity provider "B", or have the trade executed against the bid or offer of another trader. Participants of the ECN send in competing bids and offers into the platform and the combined volume is usually displayed to traders at each price. Orders are matched between counterparties, usually for a small fee.

According to what is written, i think what they mean is ECN offsets your trades with other traders while they earn through commission and/or spreads while market makers earn through spread only. Regarding slippage and SL being haunted I can't say much as I have not experienced being hunted on SL or slippage as I usually verify my position on Oanda with the MT4 ODL securities broker. Anyway chances of slippage or being hunted SL is minimal if your broker is regulated by cftc and nfa as there are very tight regulations and if they are caught doing anything unethical, the penalty is huge

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Added on November 3, 2008, 8:54 amAdd on:
As we read that market_maker has the option to partially or fully offset your position with another trader, this might mean that they are also involved trading forex. Correct me if i'm wrong.

This post has been edited by kelvin_tan: Nov 3 2008, 08:54 AM

EJ m15


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WARNING: EURO BREAKOUT SEEN

going to short EU soon... RSI shows overbought.. and its unable to pass the daily pivot S1.. MACD indicates sell.. hmmm

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Added on November 3, 2008, 10:40 amtoday japan bank's on holiday... hmmm babypips advice us to stay away when this happens but i wonder why ?

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Added on November 3, 2008, 10:41 amT_T slow on shorting EU.. short at 1.28328...missed ideal entry point at 1.28400

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Added on November 3, 2008, 12:28 pmadded another 188 units short on 1.28571.. total 1188 units.. hmmm doesn't seem to want to go down..

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Added on November 3, 2008, 12:44 pmActually adam u foresee EU moving back up to 1.32xx or higher. Do u mean long term?

In the short term (this week), wont USD appreciate due to election? I lack experience as i've never traded before an election and i would like to know more about it.

This post has been edited by kelvin_tan: Nov 3 2008, 12:44 PM

Yes, DJIA is going to rally big tonight. Cut all your short positions.

Stay on the sidelines if you are unsure of the short.

@kelvin

okok thx..


when bank holiday, the investor cannot borrow $$ from bank to invest..
since the IR of Japan is among lowest, thus lot of investor borrow $$ form them..
if bank holiday, the liquidity will be low..

correct me if i'm wrong..


kelvin, i get the answer u want from Forexfactory
-Banks facilitate the majority of foreign exchange volume. When they are closed the market is less liquid and speculators become a more dominant market influence. This can lead to both abnormally low and abnormally high volatility

This post has been edited by jc_shino: Nov 3 2008, 01:59 PM

lol... ok.. thanks a lot... and now die.. i'm in a trade at the moment... no wonder the movement so little.. T_T

jc when wanna yum cha?

sorry.what is the meaning of maximum deviation?