FOREX TRADING HQ VER 4, Speculators, scalpers and traders wanted
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 Oct 7 2008, 07:10 PM
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#1
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Senior Member
1,120 posts Joined: Jul 2006 
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QUOTE(bulkbiz @ Oct 7 2008, 02:36 PM) Well, I use FXCM mini acc, deposit $1000 as starting capital. Now got $1800 inside Quite good wor. ROI of 80%   Me still learning all the FOREX basic first before jumping into bandwagon. Also considering trading mini account to see how is the FXCM execution process. Try to get familiar with FOREX trading first. |
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Oct 7 2008, 10:20 PM
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#2
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Senior Member
1,120 posts Joined: Jul 2006
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Btw, wanna ask if there is any taxes on gains from FOREX trading in US?
As i know, there will be tax on gains from US stocks. But not sure about FOREX or US options?  Could anyone help to answer it? Thanks in advance  |
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Oct 8 2008, 07:25 AM
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#3
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Senior Member
1,120 posts Joined: Jul 2006
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Today just earned 300+ pips from shorting GJ. But only from fxcm demo account.
Way to go...once confident enough, will start to trade FOREX in real..  |
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Oct 8 2008, 08:58 PM
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#4
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1,120 posts Joined: Jul 2006
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QUOTE(tiny @ Oct 8 2008, 04:14 PM) Is FOREX profits taxable in Malaysia and Singapore? Yesterday, i've post same question also but no reply from sifus here Now very tempted to buy AUD ... now 1SGD = 0.9988AUD  Can anyone help me in answering it? Is forex gains is taxable when transfer money from US to Msia bank account? Nvr invest in US before  |
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Oct 24 2008, 08:45 PM
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#5
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1,120 posts Joined: Jul 2006
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QUOTE(mphpopular @ Oct 24 2008, 08:12 PM) I didn't trade much today. The only position closed is open since yesterday. GMTNow gonna do evaluation again. And any fundamentalist here? What make GBP such a huge impact? I cant understand it thru TA Added on October 24, 2008, 8:28 pmFor me now, GJ reacch bottom jor. But I need to understand why GBP have such huge drop today in order I didn't catch the wrong trade. Besides, yesterday EURGBP range area is super nice to scalp. Take more than 30pips from that tight area yesterday + today morning. By EURGBP trend, we can still see GBP still have room to going up which mean lead to weakness of GBP. If GBP still can continue to weak, then GJ shall going down some more. So thinking is it now the best time to HOLD LONG on GJ? 08:30 AM GBP Gross Domestic Product (QoQ) (3Q A) -0.5% -0.2% 0.0% GMT 08:30 AM GBP Gross Domestic Product (YoY) (3Q A) 0.3% 0.5% 1.5% GMT 08:30 AM GBP Index of Services (3Mo3M) (AUG) -0.3% -0.1% -0.1% (R-) Today GBP has reported lower expectation for GDP data. Gross Domestic Product (YoY) (3Q A) - Expected was 0.5% but result is 0.3% Thats why GBP drop so much compared to EUR as it doesn't affect EUR although GBP is belong to EUR union but doesn't join in EURO monetary policy. |
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Oct 25 2008, 09:39 AM
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#6
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QUOTE(normeck @ Oct 25 2008, 09:26 AM) as an intraday trader...i think we should take a look at monthly chart also la..this is what goes into my mind now...(for enhanced my trading style)...when we look it going down..so we must go for more SHORT than BUY... yah, true. need to analyse what is current long term trend.I have learned my lesson. really can't trade against the long term trend. I'm always catching falling knife in m15/m30 chart hoping that it will rebound but alas, the trend against me. Been losing about 75% of my total paper investment. sob sob.. from USD10K to USD2.5K only now.. |
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Oct 25 2008, 12:07 PM
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#7
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QUOTE(kelvin_tan @ Oct 25 2008, 09:57 AM) slowly... everyone is having bad times in this market.. Agreed. Just people need to learn from their mistakes and improve it in next trading.Maybe greedy takeover myself and causing such big losses(buy 2 standard lots using 10K fund -> 500:1 leverage. too high risks) May i know usually all of you using how much of leverage to trade forex? Does anyone here using automated forex trading? By using automated trading, i hope can eliminate unnecessary emotions when trading forex coz its too volatile.  |
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Oct 25 2008, 01:48 PM
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#8
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QUOTE(normeck @ Oct 25 2008, 12:20 PM) as we have discuss before...leverage will not kill ur account...its ur money management.... Agreed. Money management is most important part in managing the risks associated in forex trading.i dont have EA..as far as i know it will not last long....maybe others can help from it? In my opinion, leverage is also playing small part in money mgmt. To trade for long run, its better to have low leverage. Ooo.. there was previous thread for forex beginner? Is it in available in version 1? QUOTE(kelvin_tan @ Oct 25 2008, 01:33 PM) i leverage 1:40.. TP = 2.8% of my account.. SL = 1.75% of my account.. Ic..thanks for sharing. |
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Oct 25 2008, 03:17 PM
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#9
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QUOTE(kelvin_tan @ Oct 25 2008, 02:00 PM) @dreams achiever You are absolutely right. I agreed that i'm over leveraged.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 #%@%#$@%.. 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.  |
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Oct 25 2008, 08:52 PM
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#10
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QUOTE(normeck @ Oct 25 2008, 04:39 PM) 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 |
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Oct 25 2008, 10:20 PM
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#11
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QUOTE(kelvin_tan @ Oct 25 2008, 09:29 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.. Yup..i checked already. Oanda was registered with CFTC and NFA liao. If not mistaken, it is among top three forex brokers in US. 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 =) 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 |
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Oct 26 2008, 11:47 AM
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#12
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QUOTE(mphpopular @ Oct 26 2008, 02:01 AM) If you really want try small, go over fxopen or liteforex, can deposit with even usd 10. Besides, they provide mt4 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 )Added on October 26, 2008, 11:50 am QUOTE(coldfusionpower @ Oct 26 2008, 03:03 AM) 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 .. QUOTE(mamet @ Oct 26 2008, 06:25 AM) liteforex use mt4...??? liteforex? it is open by local company?if it does... im itching to try.. been using demo account for 6 months now.. time for a change...  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 |
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Oct 26 2008, 02:20 PM
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#13
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QUOTE(kelvin_tan @ Oct 26 2008, 12:08 PM) 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. |
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Oct 26 2008, 06:53 PM
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#14
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QUOTE(mphpopular @ Oct 26 2008, 06:34 PM) EU m15 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. |
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Oct 27 2008, 01:06 AM
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#15
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QUOTE(small-jeff @ Oct 27 2008, 12:39 AM) hm...when Japan session starts? if not mistaken, it start at 7pm EST time = 7am our local Malaysia time.Before Asian/Japan market open, Australia market has opened at 3-4pm EST time but not too active compared to Japan market. |
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Oct 27 2008, 10:33 AM
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#16
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1,120 posts Joined: Jul 2006
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QUOTE(MNet @ Oct 27 2008, 09:49 AM) Not 7am MY Opps..my mistakes. Its 6am MY So far i'm still looking for best time converter. Currently using worldtimezone.com. Havent truly explore in it. |
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Oct 27 2008, 10:35 AM
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#17
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1,120 posts Joined: Jul 2006
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QUOTE(r326196 @ Oct 27 2008, 02:08 AM) Thanks. it really help in determine the forex trade time. Added on October 27, 2008, 10:53 am QUOTE(mphpopular @ Oct 27 2008, 10:10 AM) EURCAD. MAny many doji doji doji. From chart itself, it is forming triple top and descending triangle.Good time to short this pair of currrency. Btw, how come i can't find EURCAD in my watch list using ODL-MT4 demo? Any steps that i missed? This post has been edited by dreams_achiever: Oct 27 2008, 11:25 AM |
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Oct 27 2008, 07:23 PM
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#18
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1,120 posts Joined: Jul 2006
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@kelvin_tan
Well, i still learning TA though. Not quite confident to post my analysis here. I just follow Bill Williams Accelerator Oscillator + Stoch to give buy/sell signal. And using H4 or D1 for timeframe. More toward swing trader strategy as last time lose virtual money in using day trade. U guys so geng, earning hundred of pips in single day. Wonder whether u guys seem tired monitoring screen for half day? This post has been edited by dreams_achiever: Oct 27 2008, 07:23 PM |
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Oct 27 2008, 08:22 PM
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#19
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Well, this is my first chart.
Sifus here, please give some advise. Thanks.. So far, there are no trade open for now. Awaiting for next short signal... Attached thumbnail(s) 
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Oct 27 2008, 09:24 PM
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#20
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QUOTE(small-jeff @ Oct 27 2008, 08:58 PM) hm...i think i posted somewhere here before (few weeks back i think)..lol...anyway, policy makers will soon step in to stop people to seek safe haven in USD and Yen, especially in the government bond market. Both strengthening of USD and Yen is killing their economy...well, typically, it's killing everyone. Most companies called for losses due to currencies losses. Late last week, G7 announced that they will step in to stop the appreciation of the Yen, but today we still see the Yen gaining. Perhaps by this Friday, they will announce their measures. Time to spot for EJ buy entry.After that, it may end this trend. if it does end, then time to look for the next place monies would go.. Open long position at 115.82 TP 118.40 (median range of bollinger band). |
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