26feb09


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those are standard procedures wookypooky

Break the resistance.

But the curve already too steep plus it near overbought. Maybe won't pass the resistance created by the top on the left corner?

what is resistance?

Can anyone tell me, is FOREX is the future foreign exchange?

Is it OTC or exchange traded? bcoz i heard from my fren, it is OTC, but the future can't traded in OTC, bcoz of its nature of contract which is standardize rite...

This post has been edited by gecodine: Feb 27 2009, 01:30 AM

thx for sharing.

As for UJ it has been a good month for me ...
Entered trade since early FEB now it's nearly time to lock in the 700+ pips. I was really aiming at the 1000 pips but nevertheless, Im closing the trade before the end of friday. Unfortunately for EU, the pair has been seen quiet over the few weeks. I guess I'll have to drag it on for another few weeks

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

EU currrnently on m30


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Look at EJ, hit my SL this morning after a doji form and price going down Bad Friday.

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Added on February 27, 2009, 10:50 amHey you, don't act noob, for those newbie out there, any question you can ask small-jeff, he is a professional fulltime trader living in mont kiara bunglow.

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Added on February 27, 2009, 10:53 amYeap you are right, just sometimes don't trust stoch 100%, it will make you miss hundred of pips. Many time I don't dare to enter trade due to high stoch, who knows it still climb up steadily. Any indicator you can recommend me to avoid this since you are indicator expert in this team?

This post has been edited by bulkbiz: Feb 27 2009, 11:20 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?

Legal.

Broker :
IBFX, FXCM, alpari, oanda (regulated)
fxopen, liteforex.org (unregulated)

gj


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mmh, i still doubt that.

I just make a call to Bank Negara Malaysia, that FOREX trading in malaysia only license to bank not to us.

Its illegal for us to play FOREX.

forex broker is not allowed in malaysia
but forex trader is allowed in malaysia

@xXwasabiXx
it is legal for us to trade forex but it is however illegal to set up a forex brokerage here in malaysia.

@rstusa
Its not the japanese adjust their currency level. Its that they intervene in the forex exchange market when deemed needed. They do not "adjust" their currency price but instead perform massive buying/selling of the yen that makes it move due to the huge volume that they are able to execute

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.

I believe profit withdrawal into credit card is limited to the amount you previously funded into your FX account. The remaining of the balance, they will wire transfer to your local bank. Credit card is not like a debit card, so there is a restriction to deposit $ into it.