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 FOREX Corner v 5.0, FAQ|Technique Sharing|News|Broker

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rstusa
post Feb 23 2009, 01:47 PM

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QUOTE(Ibrahimovic @ Feb 23 2009, 02:44 PM)
lol, I know a lot of people who treat demo like playing games. but after reading alot of books on forex like Mark DOuglas, John Carter, John Murphy, Dr. k Tharp, Kathy Lien, and Steve Nison which all within this month (I'm a STPM grad with nothing to do 24/7) I have good grasp.

I treated demo like my own with only risking 1% of the 3k demo money. The only thing I lack here is experience. Is it really tough doing trading? After a month on demo, the I only got 3 profit with almost 15+ losses. It really suck.
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Yes, is very good for you to use low margin. For me, i use between 0.3%-2%.
rstusa
post Feb 23 2009, 05:15 PM

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What you guys think of this http://www.powerupcapital.com/ ? Who is this Kishore M?
rstusa
post Feb 27 2009, 08:01 AM

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QUOTE(Ibrahimovic @ Feb 27 2009, 01:19 AM)
But the curve already too steep plus it near overbought. Maybe won't pass the resistance created by the top on the left corner?
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I heard that JPY is not 100% an open market, sometimes the gov will adjust the price themselves without any notice but they seldom do that, i think because they want to rescue some big company in japan like Toyota and so on. Not like USD, GBP totally follow the market flow.

This post has been edited by rstusa: Feb 27 2009, 08:02 AM
rstusa
post Feb 27 2009, 11:46 AM

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QUOTE(xXwasabiXx @ Feb 27 2009, 11:58 AM)
Hi, im new here in FOREX trading.

I have few question to ask:-

1. Is forex trading in malaysia legal?

2. Can you recommend to me few broker that are reliable:-
eg: INSTAFOREX, AVAFOREX, FXCM, FXDD.....

3. Is wire transfer deposit/withdrawl save? I takut Bank Negara can possible freeze my account
if really Forex trading are illegal.

4. Looking for profit withdrawal into VISA/MASTER credit card. Any broker with that facility?
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1) Forex trading is legal around the world.

2) I can recommend those brokers to you that under regulations of CFTC & NFA in USA like FXCM, OANDA, IBFX, FXDD and so on. Those brokers are regulated outside USA, there is a risk to invest based on my advice like broker FXOPEN, CROWNFOREX and so on. So before you choose a broker, check whether they're under CFTC or NFA.

3) You can do wire transfer but if your funds transfer more than RM50K, Bank Negara will take an action to alert you.

4) As i know broker like IBFX, FXDD both they got provide credit card service, you can take a live chat with them to get more info.
rstusa
post Feb 28 2009, 01:33 PM

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QUOTE(tsarena @ Feb 28 2009, 01:27 PM)
Hi,

I'm new in forex trading, just started to trade with demo.
I got few question regarding broker

1. For FXCM Micro, they not allowed you to login during weekend? So can't access their chart as well?
    I can't login to my account.

2. Is there any problem with FXOpen last night? the price not updated, the chart keep updating but not showing anything..
    Is this normal problem for FXOpen?

3. If using Paypal for forex money withdrawal (OANDA), standard paypal account will be enough? or need to upgrade to premier account?

Frm my reading, it mentioned you will only lose the money you've deposit because of margin call. But in real life will it be possibility margin call failed then you owe loses to the broker? Can you dispute that or you have to pay the extra loses? I know to be on safe side should put stop lose as well but just in case margin call failed.

I'm trying out few broker... so far
FXCM Micro:
+ve : the platform, charting easy to use and understandable. They accept Credit card deposit right?
-ve  : if cannot login to my account or access the chart during weekend.
        Not planning to trade during weekend but at least I want to review back my trades I've made for the past week. Study the chart...
        Withdrawal method only by Bank Wired, normally how much is the Administrative fees? Hong long will it take to transfer to our local bank?
        For the transfer, can directly transfer to normal saving/current account or I need to open new foreign account like the one offer by Maybank?

FXOpen:
+ve : easy deposit/withdrawal to local bank
-ve  : not regulated. the quotes & charts not refresh or looks like hang (maybe this happend on Friday night only?)
        Can access account during weekend?

FXCM Micro & FXOpen, both offer low deposit & high leverage
(1:400)          (1:500)

OANDA : haven't try yet. Having problem with opening the platfrom. Something wrong with java version I've used in my PC. I'm using jdk 1.5

Interbank Fx : haven't install the program. If not mistaken allowed deposit/withdrawal to local bank?
                      But frm review I've read, the price often get requotes. Is this true, will it effect so much to trading?
                      I know most broker also have requote the price, but the only different will be how often?

Any other broker should I try? Broker that allow you to access your account & chart during weekend?

Please advice. Thanks

AdamG told me before the forex broker he used based in SG, but I've forgot the name already..
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My advice, better trade with broker that under CFTC or NFA. The fxcm you can't login on weekends because they disabled it.

rstusa
post Mar 1 2009, 01:55 AM

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I found a system called Avonko, it even appeared in wikipedia, pls check it out http://en.wikipedia.org/wiki/Avonko Heard of this before? The official site is http://www.avonko.com
rstusa
post Mar 1 2009, 10:20 PM

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Did you guys think before that if you really got 10million usd in a forex broker account, if you want to withdraw all of them, will the broker allow you to do so? Or the broker will scam your 10million become 5million? Even those brokers regulated by CFTC or NFA, can they really be trusted if your account one day really got such huge amount?
rstusa
post Mar 2 2009, 08:56 AM

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QUOTE(bulkbiz @ Mar 1 2009, 11:33 PM)
LOL, why you want to keep so much money in your trading account?? Anyway, regulated brokers will not scam your money, and I believe usd 10 million for them is nothing also.
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If they really not scam then is ok.
rstusa
post Mar 2 2009, 05:56 PM

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QUOTE(Ibrahimovic @ Mar 2 2009, 06:51 PM)
Er...why we are talking about US$10 million here. Does anyone here got that kind of money? Can someone lend me some money plzzz....
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No, we just want to do a better risk management here if next time we really earned a 10million, how we're going to settle it?

This post has been edited by rstusa: Mar 2 2009, 05:57 PM
rstusa
post Mar 2 2009, 05:57 PM

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QUOTE(shanelai @ Mar 2 2009, 06:56 PM)
May I know ordinarily for a newbie to start up an account. How much of deposit to place in in order to paly for lot of 100k?
All in USD?
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You can start with USD500.
rstusa
post Mar 3 2009, 12:40 PM

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QUOTE(dreams_achiever @ Mar 2 2009, 08:20 PM)
Tax agency will invite you for coffee session if found out that you transact more than USD50K internationally.
Means can't do wire transfer more than 50K at certain time unless you wish for tea break with them..hehe biggrin.gif
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You mean when we transferring back the money to malaysia? If our money still in US broker, let's say we got a bank savings account in US, then we transfer there, will the tax agency find us for coffee?
rstusa
post Mar 3 2009, 12:43 PM

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QUOTE(tsarena @ Mar 3 2009, 12:47 AM)
My friend told me if wire transfer money frm oversea into Malaysia more than Rm20k then need to declare to Bank Negara... Is this true?
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No need, unless more than RM50K. I tried to wire more than RM30K & less than RM50K from oversea to malaysia before, just a normal transfer, no need to declare anything.
rstusa
post Mar 3 2009, 11:37 PM

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QUOTE(tsarena @ Mar 3 2009, 11:54 PM)
Thanks...

I've read frm another forum, it said if LHDN ask about the money, then just need to print forex account statement to prove the money is yours
but not sure will this work and what other consequences  laugh.gif
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Every broker provide the W8 form for LHDN declaration.
rstusa
post Mar 4 2009, 02:13 PM

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I found this forex firm in Malaysia, pls look at their website http://www.infinite-fx.com/ is that their firm legal in Malaysia?
rstusa
post Mar 4 2009, 02:53 PM

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QUOTE(bulkbiz @ Mar 4 2009, 03:46 PM)
Erm, to be frank, I think it is a must to know all the forex basic term. I didn't study CFA also, I am IT graduate. I learn forex from www.babypips.com
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Yes, from www.babypips.com had enough, no need to waste those money for forex courses. If you think babypips not enough, sometimes you can meet some forex professional traders to have a discuss or sharing with them about your skill & experience.
rstusa
post Mar 5 2009, 10:10 AM

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QUOTE(small-jeff @ Mar 4 2009, 11:27 PM)
I've seen a lot of "us", so..like most fellow traders here, would you mind telling me what is causing the consolidation of EUR/USD right now, and that how could Dow Jones and US Treasuries could be falling at the same time?
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I also want to know what happened? Since USD is uptrend but economy worse in USA, just an opposite way.
rstusa
post Mar 6 2009, 10:25 AM

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QUOTE(premier123 @ Mar 6 2009, 01:33 AM)
Thanx for the info!!
rstusa
post Mar 16 2009, 11:14 AM

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Anyone know what had happened to the currency CHF last week?
rstusa
post Mar 24 2009, 12:30 PM

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QUOTE(whoknowz @ Mar 24 2009, 01:28 PM)
now really haizzzz tension ni no money to invest ,,,, only see people keep profiting .........
*
Simply dump usd300 to play but with lot 0.01 only.
rstusa
post Mar 25 2009, 01:08 PM

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QUOTE(cmk96 @ Mar 25 2009, 01:14 PM)
There is harm in "learning" forex..... easier than go to work? think again... how much time u need to spend in front of computer waiting for the right setup to emerge?.... For me, its a lot tougher and scarier than going to work... u r entering a market with juz 5% success rate. U call that easy? Hope u'll start trading with live account soon. Good luck.
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Everybody got its very own trading method, some need to sit in front of pc every minutes and some just trading for 5min in the morning, 5min for afternoon & 10min for evening but they still earn accurate every month (not related to EA).

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