But does UJ work like other major currency pairs? Since both USD and JPY are low-yielding currencies, when good news about the US appear, does UJ rise or fall?

Because when bad news about US occur, doesn't USD strengthen against other currencies instead of falling because investors ultimately have more faith in USD than the other currencies, since a falling US economy would affect the global economy in large.

Daily target of USD30-50 for a 200USD balance? Wow that's a tad too high isn't it, 15 to 25% daily return. Do you intend to keep the same target percentage return or are you maintaining the dollar figure profit only when your balance grows?

For me i've learnt my lesson, i started off with 100USD and went to 200USD within a week and lost over 60% within a day lol, let greed take the better of me, now i target a 1% daily return or even less, since when it builds up it amounts to quite a lot in a year, wanna develop the habit of trading consistently from the beginning.

I don't think there are enough people here who trade in forex to justify a subforum, there are probably what, around 10 who post here regularly?

Anyway anyone trades much in AUD/USD? I'm thinking it will rebound to 0.65 before falling down again, over the past 2 weekends after sell-offs testing lows the market would pare the losses, probably with the help of RBA's intervention, so this pattern is likely to continue when trading starts tomorrow.

Furthermore after some heavy losses in Dow Jones, i'm thinking it's gonna recoup some of those tomorrow, which would favour AU.

Thus having a long position on it now, hopefully it goes my way.

Sorry a noob here in charting tools lol, haven't finished my 5th grade in babypips, that graph with those lines and words is a support for my hypothesis right?

What's your msn?

Ok AU did touch 0.65, scared me at first when it was going down at the beginning, i guess i haven't developed the art of patience yet haha.

Think AU is going down from here onwards, prolly sideways for a while before further bad news trigger the plunge.

Mine's like yours, except you gotta move the decimal point 4 digits to the left lol.

traded in EU for the first time and also the first time i've held onto a trade for more than a day, it's just not going anywhere...maybe i should close it while it's still in black for me

not sure about "Meta Trackker" but i do know there's a MetaTrader platform that a lot of brokers use, google that and you'll find the website, you will need to open a demo account to use it, which you'll know once you get to the website

haha like what you would tell a gambling addict, control yourself
either that or you can go into full-time forex trading, or be a brokerage trader or something if possible

Was holding a short position in AU since before trade closed last week, making 140 pips now.

What's with the sudden nosedive in GBP/JPY? Not that i'm complaining since it reversed my loss and gave me 10 bucks.

lol 14 and you're already into forex? that's a tad too early isn't it, when i was 14 i was still sucking on the milk bottle watching power rangers

how did you learn about this anyway? well i guess it's good to start early, those successful people usually show early signs when they're young, you could be one of them haha

is there a good website that shows historical charts of the major currency pairs up to as old as possible?

Yo thanks, why do you need lotsa RAM to download data? Is 4gb enough?

Hey coldfusionpower i remember you saying you used to withdraw your profits weekly or something right? Which broker do you use? How is the withdrawal like? Do you wire transfer it to your bank account and then convert it to ringgit?



p/s just borrowed the book "Technical Analysis: A Complete Resource for Financial Market Technicians" from the library, shall study it during this holiday

This post has been edited by orangysb: Dec 6 2008, 09:15 AM

Can someone explain to me why is there a sudden rise in the middle of the break? Was there some trading going on?


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LiteForex has a local branch in Kelantan? Like an office with a physical presence? That's interesting because i wouldn't expect an international forex broker to have a branch based in Kelantan, of all places. I had a look at their website and they're part of Straighthold Investment Group which is based in Seychelles. I mean, why Kelantan lol, the capital city is KL.

Is there any broker that has an office in KL?

So it's free to withdraw from LiteForex? Cause it cost like 15 bucks each time you withdraw from Oanda which is kind of a rip-off. That's why i asked.

But my question is why was there an activity at that time when market's meant to be closed.

You can place an order now so when the market reopens it'll be executed straight.

Well it is costly if i intend to withdraw money weekly, it adds up to quite a significant amount in oanda.

How about you do your research before you talk?

Oanda withdrawal fees
It's stated clearly that the first withdrawal in a month is $20, any additional withdrawal is charged the fee plus another $15.
It's only free the first time if you withdraw by check and paypal the first time in a month.
And i confirmed this by asking their live chat assistant.

The next time you wanna act like a d*** you'd better get your facts right.

Hey i didn't start it, i knew what i was talking about.

Anyway i haven't withdrawn using wire transfer before, since i use paypal, but i'm pretty sure banks don't charge you for receiving money right, they only charge the senders don't they? Otherwise the withdrawal fee plus fees charged by your bank would add up to an even more substantial amount.

Share your expertise please, how does Dow tell you AU would be going up? Simply because it rose on Friday?

I'm glad i'm in this forum reading this thread haha, thanks mphpopular i just made 100 pips longing AU.

I think it's time for me to study technical analysis and not just following forums and wildly guessing hehe.