@dreams_achiever
u have to understand the nature of these brokers... there are a few..
market_makers, ecn and so on..

mt4 brokers yes they offer consistent spreads.. oanda lowest spread is on EU .. at 0.9 at times..

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Added on October 30, 2008, 10:07 pm@mphpopular
no la heh.. because i adjusted my lot sizes.. =) so i can afford higher pip loss... my SL = 90 pips.. my TP = 150 pips.. usually once a trade goes positive about 30-50 pips i adjust SL to +1 ... i used to have tighter SL.. but i noticed i get stopped out too often.. so i adjust my SL higher but i buy smaller lots... since i've changed to this method i've been more.. calm during trading =) each TP i earn USD15 but if SL then lose USD9... i dont necessarily take profit at 150 pips.. if i am at the pc i will increase my tp slowly and trail with a tight SL..

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Added on October 30, 2008, 10:08 pmanyway mph... since ur a GJ and EJ trader... careful tomorrow on Japan's interest rates.. they may cut to 0.25% ..

This post has been edited by kelvin_tan: Oct 30 2008, 10:08 PM

@mph
consider going a little on the FA side? read a little cnbc .. it will give u some direction.. we're expecting an upward movement on yen pairs..

@andrekua
you c the difference is we INVEST while u GAMBLE. It is really quite impossible to lose 100% of ur capital in oneday unless ur either over leveraged or u didn't put a SL or ur just plain gambling. Learn the way of forex n u may gain like us. Even so not all of us are gaining. Some of us are in recovery and some of us has loss big time. Those that are sucessful are those that learn forex n always stick to their principles and system

@bulkbiz
fulltime investors are possible. Provided you are consistent and u have the right amount of capital

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Added on October 31, 2008, 1:13 am@bulkbiz
3 months isn't a good measuring time as you are going to do it as fulltime. I would say probably 1 year or more would be more suitable.. Full time investor can.. adamg1981 is a fulltime investor.. but he's inactive nowadays

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Added on October 31, 2008, 1:17 amUSD10k lets say u make 1% a day.. thats USD100.. one month about 2k USD.. exclude saturdays n sundays) .. 2k usd exchange = 7k ringgit.. is that enough for u? if yes.. u can =) 1% isn't that hard to do in forex..

This post has been edited by kelvin_tan: Oct 31 2008, 01:17 AM

@bulkbiz
please do post we need them =) there are different opinions on all traders.. there is no perfect analysis.

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Added on October 31, 2008, 1:47 amactually bulkbiz.. are u on live account?

This post has been edited by kelvin_tan: Oct 31 2008, 01:47 AM

haha no la.. i didn't know ma. because this week got many new comers ma.. i know u have been in the forums for some time but i didn't know were u on live or not >< sorry for my noobiness

@mph
dont trade d lo this week.. slowly.. i also stop for the day d.. i executed about.. 7 trades today.. all hit SL at +1 .. except one of it i got nice pips.. market very unsteady..

@casanova88
i used it before about 1 year ago and i dislike it because they do not have pip spread count for u.. sometimes during news u dunno the spread coz lazy count... n since nobody recommends it anyway i stayed away from it ..

@dreams_achiever
you can c the spread calculated in demo for oanda dude ><

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Added on October 31, 2008, 11:52 amanother point for oanda is no requotes =)

This post has been edited by kelvin_tan: Oct 31 2008, 11:52 AM

haha dreams_achiever
for me my answer was direct because as a student my capital is limited. Y not ask urself how much are u planning to start ur account with? if ur starting small.. oanda doesn't have a fixed amount of units u can buy.. so u can buy even 500 units.. i started oanda because i started my account with RM2000. If it was a micro account.. it will be wiped out easily ><

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Added on October 31, 2008, 2:22 pmjust got into the trade.. spotted a descending triangle on EU..

Edit : posted up charts.. lets c how it goes..

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Added on October 31, 2008, 2:28 pmactually those ppl's analysis from babypips is kinda accurate also.. i've been keeping a watch as their analysis helps a lot..

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Added on October 31, 2008, 2:31 pmSL set to +10... wanna lock in at least a bit of profit... gonna let it run.. happy pippiing guys

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Added on October 31, 2008, 2:32 pm........ instead of seeing a descending triangle.. i'm also seeing a double bottom now T_T lets wait for the candle to close before comfirming

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Added on October 31, 2008, 2:46 pmdescending triangle it is

This post has been edited by kelvin_tan: Oct 31 2008, 02:46 PM


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haha welcome to oanda.. but dude.. be aware though... because of the heighten volatility.. seldom u can get lower EU spreads compared to those of mt4.. thats wat i noticed since the global financial crisis thing arised.. but i'm at least more calm knowing that my money is quite safe with oanda because of their capital.

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Added on October 31, 2008, 8:25 pmman if there's one thing i notice thats hard to control in forex is emotions and also greedyness.. i'm finally very very close to my previous high profit in my account.. and its been a tough month.. need to learn to be less emotional during trades n just live with what i get and dont envy how others get more pips then me in the same trade..

This post has been edited by kelvin_tan: Oct 31 2008, 08:27 PM

@dreams_achiever
SR = support/resistance =) nice chart.. but too bad i dun trade aud/USD because i'm a bit scared of it.. i got burnt once very badly there.. 200 pips..

@xloklokx
U being a new member of this forum trying to advertise your things already raise suspicions. Secondly when u say the word "play forex" nobody is going to even bother contacting you.

Welcome back adamg1981 =) we missed ur presence.. I see now you are working for OSK ?no longer full time trader at homE ? come back dude

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Added on November 2, 2008, 1:15 pm@greybear
I would say hold up a bit on investing in AUD and here's the reason why. November 4th is the election date for US. Once the election is over, speculation is that the currency would appreciate hence gold will drop. When gold value drops, AUD also drops. Correct me if my conclusion is wrong

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Added on November 2, 2008, 1:18 pmHere's a link for your reading on the appreciation of USD after election.
http://www.cnbc.com/id/27470047

U may choose to invest now also actually as we are going to see higher AUD later on but to maximize ur profits one should buy at lows and sell at highs..

This post has been edited by kelvin_tan: Nov 2 2008, 01:18 PM

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 =)

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?

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

@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

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

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?