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Help needed in OANDA + users from Malaysia 105 replies

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  • #501
  • Oct 25, 2007 8:55am Oct 25, 2007 8:55am
Quoting Malaysia
Tulaaa... aku pun tengah rindu kat anak soros tu Dah laa tengah pakai kain pelekat ni
HAHAHA bahaya tu!
  • #502
  • Oct 25, 2007 8:56am Oct 25, 2007 8:56am
5 mins to 10pm people!!! Ready for surprise... AGAIN
  • #503
  • Oct 25, 2007 9:04am Oct 25, 2007 9:04am
Lame news again!!! Nothing surprising. Please give us some action... pleaseeeee
  • #504
  • Oct 25, 2007 9:08am Oct 25, 2007 9:08am
GBP/USD Intraday NY Session Update

Any open short position triggered on fail to break up side of 2.0552 or fail to maintain price support at 2.0522 for should be protected with 10 pips trailing stop or take any profit for post new home sales data price reaction.

Disclaimer-Please Read

All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility.
  • #505
  • Oct 25, 2007 9:12am Oct 25, 2007 9:12am
Quoting Malaysia
Lame news again!!! Nothing surprising. Please give us some action... pleaseeeee
Lame betui, ako fed up ni!
  • #506
  • Oct 25, 2007 9:12am Oct 25, 2007 9:12am
Look at that! Being squeeze and squeeze within the tip of the Triangle. No matter what... UJ got to breakout away from the Triangle by tonight.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusd65a.PNG Size: 40 KB
  • #507
  • Oct 25, 2007 9:14am Oct 25, 2007 9:14am
Quoting mattrader
Lame betui, ako fed up ni!
Tulaa pasal.... bapak Soros ada cakap "Trading is Boring". Now I understand why...
  • #508
  • Oct 25, 2007 9:17am Oct 25, 2007 9:17am
Quoting Malaysia
Tulaa pasal.... bapak Soros ada cakap "Trading is Boring". Now I understand why...
Nasib baik hang ada, terhibur juga ako!
  • #509
  • Oct 25, 2007 9:18am Oct 25, 2007 9:18am
DJI already shoot up above yesterday high! Hopefully this gonna affect the Carry Trades to pump in some action.
  • #510
  • Oct 25, 2007 10:36am Oct 25, 2007 10:36am
Broker Guide

Refer to today post on this thread related to brokerage firm, I would like to provide a guide for any trader to choose the right brokerage firm. Before you decide to trade forex, you will have to choose which broker or dealer is the most compatible with your trading style(Intraday/Swing) and requirements. You should ask a few questions before opening an account with a forex broker to determine which company best meets your needs.

1. Is the broker or dealer regulated? If so, in which country is it regulated?

Not all countries regulate the same way, nor do they have the same regulatory environment and requirements when it comes to financial registration. Therefore, it is important for any investor/trader to choose a foreign exchange broker that is based in a country where their activities are monitored by a regulatory agency. It is also important to know if the broker or dealer is regulated in an on- or off-shore country, as the latter can be more liberal with registration requirements.

Countries with dedicated regulatory agencies include:

USA (NFA, CFTC)
UK (FSA)
Canada (BCSC)
Australia (ASIC)
Switzerland (SFDF)

All types of traders need to be aware of their broker or dealer’s regulatory status and have a clear understanding of the regulatory body that governs forex activity where the selected broker or dealer does business.
As far as I concern there is no regulatory agency or even Malaysia Securities Commision regulate forex broker or dealer’s including introducing broker in malaysia.Therefore if you open with any company declare themselves as a broker or dealer or introducing broker in Malaysia you should take your own risk of your account.My personal opinion if you would like to open account, only open with the brokerage firm (Not Introducing Broker) that regulated at the countries with dedicated regulatory agencies mentioned above.

2. Is the company a broker or a dealer?

Understanding the nature of a broker versus a dealer is always an important task, as there are currently a few different types of companies to work with for over-the-counter forex trading (OTC FX).

(a) Dealing directly with a market maker or “dealer.” Each market maker has a “dealing desk,” which is the traditional method that most banks and financial institutions use. Market makers provide two-way pricing to customers throughout the day. These prices sometimes are quoted on a “fixed” basis, meaning that they do not move throughout the day, while other firms use a dynamic spread system, which means the prices change as the liquidity in certain pairs change. The market maker interacts with other market makers banks to manage their global FX positions/risk. Each market maker offers a slightly different price in a particular currency pair based on their global FX book. Banks, investments banks, broker/dealers, and FCMs make up the majority of this category. Market makers are compensated by their ability to manage their global FX risk. This may include spread revenue, netting revenue, and revenue on swaps and conversions of residual profits or losses.

(b) Dealing with a broker. A broker acts as a conduit between a customer and a market maker/dealer. The broker sends the customer’s order to another party to be executed by the dealing desk of the market maker. The spreads that the customer receives are dependant on the market maker or dealer that the broker routes the customer’s transactions through, and either a fixed or dynamic system can be used. Brokers generally charge fees for this service and/or are compensated by the market maker for the transactions that they route to the market maker/dealing desk.

(c) ECN brokerage model. In OTC forex, there is currently a modified broker method labeled “ECN.” This is not to be confused with the ECN term used in equities; they are different models altogether. The concept in OTC FX is very similar to point b above, except for the fact that the ECN acts as a broker to a variety of market makers or dealing desks. Each dealer sends a price to the ECN as well as a particular amount of volume that a quote is “good” for, and then the ECN distributes that price to the customer. The ECN is not responsible for execution, only the transmission of the order to the dealing desk from which the price was taken. In this system, spreads are determined by the difference between the best bid and the best offer at a particular point in time on the ECN. In this model, the ECN is compensated by fees charged to the customer plus a “kick-back” or “rebate” from the dealing desk based on the amount of volume or order flow that it is given from the ECN.

It is important to point out that an ECN usually shows the volume available for trading each bid and offer, so the trader knows what maximum trade can be placed. ECN volume is only a reflection of what is available on any one ECN, not in the overall market. The market maker still sets its volume based on its comfort with its liquidity at any one point in time. The market maker’s responsibility is to provide liquidity under all conditions to its customers.

3. How reliable is the broker’s trading platform?

Depending on an individual’s hardware and software characteristics, one might prefer a desktop application or a web-based (java) application. Understanding which type of platform suits you best is critical for trading.

It is also important to make sure that the trading platform does not crash or freeze often, especially during times of global economic news or events, when traders needs stability. The reliability of a platform should be more of a concern than its look and feel.

An aggressive trader including intraday trader, or one who likes to make large, frequent trades, will always have to look for a stable platform that never or very rarely crashes. On the other hand, a passive and conservative trader who does not watch the market round-the-clock could be more flexible.

4. What are the costs of trading?

One must be aware of all the costs associated with trading with a certain broker and how the costs compare to those of other brokers.

Costs include the pip spread (the difference between the bid and ask prices), overnight interest and any other applicable transaction fees.

For example, a broker offering a two-pip spread with a $12.50 commission per trade is more expensive than a three-pip spread broker, though the smaller spread may appear more attractive at first glance.

"Flashy" tight spreads in one or two majors can be deceiving, as they don’t call attention to inconsistent or wider spreads throughout the majors and crosses spread, so traders don’t get an accurate overall view of the broker’s procedures. Furthermore, brokers offering tight spreads may re-quote (offer a new quote, different from the original one) a price, increasing the costs per transaction and thus widening the spread "invisibly."

Another important factor is to know the broker’s stop-loss and limit policy. Depending on the policy, a trader may end up with closing prices that are worse than expected, as if the trade had higher execution costs.

An important point traders should be aware of is how much volume they can trade at a single point in time without having to face a re-quote or even the lack of ability to place a trade. The trader is responsible for asking the broker about the liquidity it has for its clients and what happens if liquidity dries up.

5. What are the real dealing size boundaries?

Traders who place large orders will want to know the answer to this question. Traders whose buying power could exceed $10 million at any one time will need to look for a firm that has enough liquidity to guarantee a fill for their orders in most trading situations.

6. Is the trading platform truly "user-friendly"?

In trading terms, user-friendly means that placing an order or closing a trade can be done immediately. One-click trading and management of stop-loss, limit and other order types are advantages that a trader may want to take into account.

In addition, it is helpful for the overall navigation of a platform to be user-friendly. If a platform offers additional charts and tools, they should be fairly simple to access and apply.

This is a critical point for an aggressive trader (intraday) whose dependence on the trading platform is far greater than a moderate or conservative trader.

7. Is the broker offering any added-value services?

Easy access to real-time charts, news and economic data is a must for any trader. However, a trader must think of these and any other added-value service as part of the broker’s package rather than as the most important feature on which to base a decision.

This is a point a trader of any nature should address correctly to make sure the firm complies with the basic standards of providing real-time charts, news and economic events.

8. How helpful is the customer support?

Having someone always available to help answer questions and fix problems quickly are points a trader should look for when deciding which broker to open an account with. Customer service should not only be able to fix a trader’s occasional problem, but also be able to help prevent problems.

This point makes no distinction between the different types of traders, as all traders should view this as an important point.

9. Leverage and margin call policies

Foreign exchange traders tend to like higher leverages and sometimes choose a broker based only on this feature. However, traders should remember that although higher leverage can lead to higher profits, it also increases the level of risk. Also, take into account that there are brokers that offer fixed leverage levels, but some others adjust their leverage based on the currency that is being traded and may also have special policies for carrying a trade over the weekend.

Traders should also take into account their broker’s margin call policy. Some companies follow the FIFO (first in first out) method to close trades when margin requirements are not met by current equity, others follow the LIFO (last in first out) procedure, and some simply close all the trades. Depending on one’s preferences, this is an issue that should be clearly identified before opening an account.

Leverage levels are more of a concern for aggressive traders who like to use the highest possible leverage, whereas a moderate or conservative trader would be happy with the average leverage levels.


Disclaimer-Please Read

All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility.
  • #511
  • Oct 25, 2007 10:51am Oct 25, 2007 10:51am
Sham..What broker do u use?
  • #512
  • Oct 25, 2007 4:21pm Oct 25, 2007 4:21pm
Quoting zankuha
how to know which is support line which is resistance? not quite understand
Hey,Zankuha!Just have some reading material for you about support & resistance.You can just click at the following link:
http://www.traders.com/Reprints/PDF_...s/FX_FOREX.PDF

Wish it help.
  • #513
  • Oct 25, 2007 4:38pm Oct 25, 2007 4:38pm
Just have Forex Factory thread post on Proposed NFA Capital Requirement for further references link to my post on broker guide.

Quoting forexsavior
Only days after the President of the NFA told the Congress he wanted them to raise the minimum capital requirement to $20 million the CFTC signed off on the NFA's current capital requirement increase to $5 million. And they are not waiting around till 2008. Firms need to have the money in the bank by DECEMBER. That's right around the corner.
Quoting forexsavior

With the forex industry rapidly changing before our very eyes I wanted to put together a much more comprehensive list of the industry's financial status. Therefore, I have included every single registered Forex Dealer member and listed their Adjusted Net Capital. Since I first started posting about the NFA proposal over a dozen firms have gone out of business. Two others have merged and several others are staring death in the face. It is astonishing that firms like Hamilton Williams (Velocity FX) can operate only $4,000 above the minimum needed to stay in business. How on earth can such a firm survive a few months from now when they're practically pushing up the daisies already? Here is the direct link for the CFTC capital reports: http://www.cftc.gov/marketreports/financialdataforfcms/

Firms Under $5 Million
All these firms are reporting adjusted net capital below the $5 million mark as of the latest CFTC report. Some should be able to raise the necessary capital. Others clearly will not. Which ones can and can't will be anybody's guess. Already one of these firms, One World Capital, is not allowing customers to withdraw money.

Hamilton Williams ($1,004,000)
IG Financial Markets ($1,010,000)
Advanced Markets ($1,042,000)
One World Capital ($1,078,000)
Direct Forex ($1,117,000)
SNC Investments ($1,130,000)
Wall Street Derivatives ($1,220,000)
I Trade FX LLC ($1,801,000)
Solid Gold Financial ($1,955,000)
CMC Markets ($2,330,000)
MB Trading ($2,393,000)
GFS Futures & Forex ($3,259,000)
E FX Options ($3,342,000)
Forex Club ($3,715,000)
Easy Forex ($4,731,000)

Firms Under $20 Million
These firms all meet the coming minimum adjusted net capital requirement. However, there are other capital requirements that as market makers these firms (HotSpot excepted in some cases) will need to meet in addition to the minimum $5 million. Most firms will likely need $10 million to be in compliance with the NFA's rules. Clearly firms like Money Garden are not in the clear just yet.

Money Garden ($5,162,000)
HotSpot FX ($5,990,000)
IKon ($7,130,000)
ODL Securities ($10,822,000)
CMS Forex ($11,849,000)
IFX Markets ($12,293,000)
PFG Forex ($12,781,000)
FX Solutions ($15,077,000)

Firms Over $20 Million
These are the most well capitalized firms in the industry and two years from now may very well be the only firms left in the industry if Dan Roth and the NFA have their way and increase cap requirements to $20 million.

Interbank FX ($25,178,000)
Gain Capital (29,061,000)
Forex Liquidity ($39,909,000)
FXCM ($50,465,000)
Oanda ($50,837,000)
GFT Forex ($54,662,000)

Firms No Longer in Business
These are the firms that have gone out of business since I began posting on the forum. That's a quarter of the industry in just a few months. And one of those firms, Nations LLC, has gone into bankruptcy and customers can't get their money back, and may never get their money back.

Bacera Corporation
Cal Financial Corporation
FiniFX
Forward Forex
FX Option1 Inc.
Nations Investments
Performance Capital International
Spencer Financial
Tradex Swiss AG
Trend Commodities
United Global Markets
Worldwide Clearing

Firms that Merged
These are the firms that could not make the new capital requirement on their own and decided to merge with larger players as a result.

American National Trading Corp (Merged with PFG)
Royal Forex Trading (Merging with IKON)

Summary
It is a very turbulenet time in the forex industry. My advice is what it has always been, do not trade with a poorly capitalized firm. And if you must, at least wait until after the December 17, 2007, deadline before putting any money on deposit with any firm that is not meeting the current minimum capital requirement.


Disclaimer-Please Read

All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility.

http://www.forexfactory.com/images/misc/progress.gif

  • #514
  • Oct 25, 2007 5:43pm Oct 25, 2007 5:43pm
last position got stopped out with little profit..

new position got triggered a minutes after that :-
http://onlinebisnes.com/blog/pic/gu-...-marketiva.jpg

medium term still on bullish side..will move stop to above entry once price move 50points above entry..
  • #515
  • Oct 25, 2007 8:35pm Oct 25, 2007 8:35pm
good morning to all malaysians... feel a bit tired today... lots of actions last nite malam jumaat
  • #516
  • Oct 26, 2007 1:39am Oct 26, 2007 1:39am
Ikut pengalaman aku paling senang pakai Maybank2u untuk TT, cuma max harian dia RM10,000 jelah. Charges RM10. Boleh TT dari Isnin-Jumaat 9.30-6.30. Isi je borang dalam portal M2u tu tak payah nak jawab soalan yg bukan-bukan form the bank manager. Cuma kalau nak fund acc besar tu kenalah buat dua tiga kali, bukannya nak kena gi bank pun, rugilah sikit setiap kali transfer lost USD22 itu bank broker akulah, korang punya aku tak tahu berapa nak kena potong.
Quoting Malaysia
I have got this Private Message asking about the TT procedure in Malaysia... that is Telegraphic Transfer... to Fund the acc. abroad.

From my experience... as long as the beneficiary name is XXX Corporation or anything else other than the word FX or Forex... the bank manager wont ask much. One more thing, keep it low profile... you know... below RM10,000 per month. That will not triggered the watchdog at BN. Top up the next month... and so on to get the Full size acc. Arrange this with the Broker's rep. Email... or Call them.

Anyone else did TT before... care to share experiences. Please help our friends
  • #517
  • Oct 26, 2007 1:46am Oct 26, 2007 1:46am
USD/JPY Intraday London Session

1st sup.
113.83
2nd sup.
113.49
3rd sup.
113.26
1st res.
114.5
2nd res.
115
3rd res.
115.25


Counter trend strategy could consider to open short positions on fail initial resistances between 114.56 and 11446 with 113.83 & 113.49 in sight.

Alternative scenario, the upside penetration of 114.5 will call for a rebound towards 115 & 115.25.

Comment: the pair is capped by a declining trend line.

Disclaimer-Please Read

All resources are for Educational Purposes Only.
Investing and Trading involves significant financial risk and is not suitable for everyone. Before deciding to invest or trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. Investors and Traders should consult with a professional financial advisor for the effects of active investing.
Any opinions, news, research, analyses, prices, or other information is provided as general market commentary and does not constitute investment advice. No acceptance of liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
Do Your Due Diligence and take responsibility.
  • #518
  • Oct 26, 2007 1:53am Oct 26, 2007 1:53am
Quoting sempoi
Ikut pengalaman aku paling senang pakai Maybank2u untuk TT, cuma max harian dia RM10,000 jelah. Charges RM10. Boleh TT dari Isnin-Jumaat 9.30-6.30. Isi je borang dalam portal M2u tu tak payah nak jawab soalan yg bukan-bukan form the bank manager. Cuma kalau nak fund acc besar tu kenalah buat dua tiga kali, bukannya nak kena gi bank pun, rugilah sikit setiap kali transfer lost USD22 itu bank broker akulah, korang punya aku tak tahu berapa nak kena potong.

time withdrw pon camtu gak member aku cakap .. keep below 50k time with draw.. nt BNM banyak soal jawap lak .. ,
  • #519
  • Oct 26, 2007 1:55am Oct 26, 2007 1:55am
update on last nite trade..

http://onlinebisnes.com/blog/pic/gmo...ave-261007.jpg

still hoding last nite trade..
stop has been move to above entry price for secure profit..
target has been adjusted to get best risk reward ratio..
current point of view - market could climb higher than 2.0600+ but I will take a safe trade with 100point profit if market touch my current target.
then I will let cable go higher if their want and find the best entry for another sharp fall..possible lowest of the month..

just my dua kupang
  • #520
  • Oct 26, 2007 1:58am Oct 26, 2007 1:58am
Hello people of Malaysia Just in time before London open Wow weeee.... already packed with action!!! Look at Euro!!! Look at Pound!!! huhuhuhu Profit taking day!!! We gonna trade like crazy today... It's Friday
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