I don't think a 3k waitress can get a BMW 3 series in US. Because other expenses already very high especially rental that most likely over usd1000/room if you're in New York. And don't forget their income tax is between 35%-50%.

hello,newbies question here,the forex market works 24/7 or 24/5?meaning on weekends the market closed is it?...

if its closed,what time would it closed on which day (Malaysia time)?...hoped any sifu(s) mind to share...

This post has been edited by unknowndevices: Jun 20 2009, 05:11 PM

You must be crazy, 50%. That is day light robbery already. It depends on the states. Is around 10-35% Income tax., so if we are talking about range of 3K USD it falls in the category of ($8,351– $33,950) which is roughly around 15% after deducting a few tax deductible stuff(gross income - standard deduction -personal exemption = taxable income ) and it will drop to that category. Getting a BMW car is roughly around 20-30k. If u put it as 1 on 1 basis with Malaysia is cheaper than Kancil. Well new york is one of the most expensive state around. San Jose, Hawaii, California you can get cheaper. around 600-800 USD. Paying a BMW car is only 400-600 USD per month. And you don't want to stay in New York as it is on of the most notorious States you can imagine.

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Added on June 20, 2009, 5:29 pmIt is very dependable on the broker. Usually it closes at around 5-7 A.M on Saturday and re-open again Monday Morning 5-7 AM. You need to check with your broker on this.

This post has been edited by iamfine1983: Jun 20 2009, 05:29 PM

I'm still having a hard time understanding the logic behind it. If the government allow them to 'educate' us about forex trading, it(forex trading) shouldn't be something that's restricted (or not allowed). A good example is that no one will have a big workshop on how to play poker or blackjack in KLCC (or worst still 'how-to-smoke-weed').

I do understand however that forex brokering is not allowed in Malaysia.

Hahaha.. Welcome to Malaysia

Anyway Forex Brokering was once allowed in Malaysia, but due to lotsa SCAMS in Malaysia they decided to only let banks and big institutes to do it.

To new traders. Welcome to forex. If you think it is easy, think again. If you expect unreasonably huge returns, good luck to you.

Would like to correct a few people about the opinions on forex. We are ALLOWED to trade forex but a broker operating in Malaysia is NOT ALLOWED.

Correct me if i'm wrong but the only people in Malaysia that are not allowed to trade forex are Islams because it seems that it is against their religion to short sell. Please do correct me regarding the Islam part as I read it from somewhere and it may not be totally reliable.

And the other question about fx. FX markets is 24/7 BUT some brokers prevent the buying and selling at the end of the friday and re-opens on monday at a specific time depending on broker.

For those that use oanda you can even execute an order now as mentioned FX market is 24/7 and oanda is one of the brokers that allows execution on a weekend but however the spreads are insanely high during the weekends.

To answer another question, there are brokers that allows you to trade with as low as USD1. However it would be pointless as the wiring fee and misc. charges already is about USD 20-30 in total.

my wish too!!

162.51
159.57

158.66


154.90
151.54

Just some SR line to take note. I will trade this line next week.

owh?...thanks for the answer,that's what i was told by one "senior" trader...he said,this "business" is 24/7,morning and night,businesses that wouldn't make him bored...
when i checked,seems many said on weekends closed,but as you mentioned actually not many brokers allowed trades on weekends...

somemore with being "suppa-expensive-to-trade" on weekends...

Can anyone here recommend a good online trading broker,low spreads,no deposit and no withdrawal fees,and easy to use platform,user friendly...and fast payout too...........

how u draw that SR? is it psychology SR?

Why are you so desperate to find a 'good broker' so soon? You're still new in this. Honestly almost any demo account from most of the popular brokers will do. By the time you're almost ready (which is probably about 4-6 months down), things might be different with the so-called recommended broker. Just practice for now and look for a broker later. Take things slowly bro.

Anyway if you're really in such a hurry to find a broker, just scroll back few pages and you'll be able to find some.

This post has been edited by BlueHeng: Jun 21 2009, 12:17 AM

bro are u mean Ebook from babypips ? if yes pls PM me

Thanks for caring me... ...........the reason is getting a good broker is also very important study in my studies...hehe..


so please any ideas????????

alpari
ibfx
gft

Based on the number of bounces. All SR zone is due to trader's psychology, including round number.

Whats your objective trading FX?

To make money FAST?

If this is your answer, better think twice why you should dump your hard earn capital in FX.

hi everyone

notice alot of free forex seminar nowadays. anyone attended their real education seminar (which is not free ofcourse)? how is it?

isn't it funny, if they are so good in making tons of money from forex, why do they bother passing on their knowledge/strategies to the public...for a fee? anyone ask this question to the speaker b4?

if anyone attending any free seminar, please ask this question on why they are providing education seminar if they are making lucrative income from forex.

Their hobby and one of their business model to build reputation and advertise to public to get famous of their products and of course their own.

Hi, i m a full time FX trader and i have traded for 1 year. I can assure you newbies it is not easy, the road to profitability is winding, bumpy and scary at times. So demo well, and read more. I would recommend Van Tharp and John Person books.

Btw, i plan to buy a car at the end of the year but i am trading FX i can't get a bank loan or even a credit card because i dont have a pay slip. Any guides on this from pros out there?