Malaysia

Quoting hunt17

Disliked

i started long already since 225.4x and add 1 more position at 226.6x

just curios, what's your target of this long? can it go 229-230?

Ignored

Quoting maxcruiver

Disliked

Dear fellow malaysians! I have several questions, hope all the sifus here can help.

1) Is the income from the forex trading tax free in Malaysia?
2) Which broker do u live traders prefer actually?
3) I heard some ppl said that forex trading is illegal in Malaysia, but I couldn't think of any reason why it would be illegal here, can someone pls clear my doubt?

Thank you n HAPPY PIPPING!! Malaysia BOLEH~!!

Ignored

Quoting Malaysia

Disliked

Retracing a bit now on M15 chart... but with this kind of momentum... don't think it will ever touch 20 wma for tonight. At least until LONDON CLOSE at 1am Malaysia time. With London Close and US on holiday... what gonna happen? INTERESTING I am very curious about this. Will stay up the whole night for this.

Dare enough to SHORT NOW? I just did... 2 lots!!!

Ignored

Quoting tkh33

Disliked

morning, not c u in the forum . should be earn a lot last night so can not wake up from your sweet dream.... i cant handle today trend, seems wanted to go up . what is your opinion?

Ignored

Quoting totally

Disliked

i have miss the train again and again...if only i could open my pc earlier i could enter the market...well...'if' is a useless word..

Ignored

Quoting Malaysia

Disliked

Good Morning MALAYSIA

Life pack with action lately huh... got to have lots of rest.



U can't handle today trend? It is not us who handle the trend... the trend is actually handling us

Enough with my opinion, I'll give it out later. Ok tkh33... why don't you tell us your opinion about the market today. Don't worry... no right or wrong. Just an opinion. You'll learn more by this way



Don't worry mate, there are lots more TRAINS available... never ending. The MARKET is forever here. Opportunity forever exist in this kind of market. One go... other will come. Just make sure to be in the RIGHT TRAIN

The Market is never ending story... the question is... how long am I gonna last in the market?

Ignored

Quoting tkh33

Disliked

need to observe first, it seems that the bull come back. but need to wait and c is the bull can run up above 38.2 - 50 fibbo. but i actually do not know why GU will come down from 2.1166 to 2.0526 abt 600 +pips. if it is not because of US suddently become strengten, then maybe today Gu will go up again. unless london bank got big problem again loh. well this is my opinion

Ignored

Quoting maxcruiver

Disliked

Dear fellow malaysians! I have several questions, hope all the sifus here can help.

1) Is the income from the forex trading tax free in Malaysia?
2) Which broker do u live traders prefer actually?
3) I heard some ppl said that forex trading is illegal in Malaysia, but I couldn't think of any reason why it would be illegal here, can someone pls clear my doubt?

Thank you n HAPPY PIPPING!! Malaysia BOLEH~!!

Ignored

Quote

Disliked

Rule #3: No Forum Promotion

Promotional agendas tend to compromise the integrity of forum discussions and are therefore not permitted.* If you make money by servicing Forex traders in any way, shape, or form, you are NOT permitted to post in the forums unless you have prior approval. If you attempt to use the forums as a promotional tool you will be banned without warning!

Members with less than 100 posts should refrain from asking about or discussing commercial Forex products, services, or websites. This includes both positive AND negative discussions. A new member discussing or asking for opinions about a commercial Forex venture is the first warning sign of a hidden agenda. Without a posting history, it's hard to determine your credibility, so your post may be mistaken as promotional. If your post is ever moved (to the Recycle Bin) or deleted, it is most likely because it was suspected as spam. Please don’t take this personally as the moderator team deals with a high volume of spam and does not have the time to thoroughly investigate every instance. Once you develop a track record on the forums it will be easy for the moderators to see that you have no hidden agenda and you will be free to join discussions related to products, services, and websites.

*If you service the Forex industry, you are welcome to promote your business by submitting analysis, press releases, and other newsworthy items in the News section. As a news provider, you must be careful not to stray into the forum area, as your avatar, signature, or username could be considered promotional.

Quote

Disliked

Sweeping relaxation of forex rules
27 March, 2004
Bank Negara Malaysia yesterday announced sweeping liberalisation in foreign exchange (forex) administration to strengthen business environment.
Rules on reporting of forex transactions; maintenance of foreign currency accounts by residents; ringgit credit facilities to non-residents; investment abroad by resident individuals and domestic institutions; issuance of bonds in ringgit by multilateral development banks and foreign multinational corporations; and, forward forex contracts would be either removed, relaxed or simplified from April 1 this year.
Unit trust management companies are among the beneficiaries. They will be allowed to invest abroad the full amount of net asset value (NAV) subscribed by non-residents and up to 10% of the NAV per fund subscribed by residents.
Different funds of a unit trust company or funds of different companies may be combined when investing abroad.
Alliance Capital Management Sdn Bhd Chief Executive Officer Connie Ong said the move will allow funds to diversify more and also to manage risks to portfolios. Ong also said it will keep the fund management industry competitive to meet more liberalised conditions come 2007.
“Ten per cent may not be a lot but it is a good starting point,” she added.
Other fund managers agreed. “The move would also help the development of fund management skills locally,” says David Ng who helps manage US$230 million worth of assets at Hwang DBS Asset Management Sdn Bhd.
He said that it is a step in the right direction. “Bigger clients may want to take advantage of the relaxed guidelines,” Ng said.
SBB Mutual Bhd Chief Executive Paul Low Hong Ceong said Bank Negara’s move is “a first step towards full-blown market opening for the domestic unit trust players”.
Insurance companies and Takaful operators who have been asking for more relaxations as to what they can invest in also have something to cheer about. They will be allowed to invest abroad up to 5% of their margin of solvency and up to 5% of their total assets respectively.
They may also invest abroad up to 10% NAV of investment-linked funds that they market.
Commerce Life Assurance Bhd’s Investment Manager Maznah Abdullah welcomed the liberalisation, saying it gives insurance companies the flexibility to diversify their equity investments in other markets.
“It gives us the opportunity to look at other markets for better returns, especially in a situation when the local stock market has appreciated a lot and has little room to go further,” she added.
Meanwhile, fund and asset managers can invest the full amount of investments by non-residents and up to 10% of investments by residents. These funds may also be pooled for economies of scale.
To improve the domestic bond market, multilateral development banks where Malaysia is a member and foreign multinational corporations may issue ringgit-denominated bonds in Malaysia. The institutions will be allowed to enter into forward forex contracts with offshore licensed banks to hedge their currency risks and non-resident investors subscribing to the bonds issued by them may also enter into forward forex contracts.
Bank Negara will also allow forward sales by residents of any foreign currency receivables in ringgit with onshore licensed banks or approved merchant banks. The sales can be undertaken up to the tenure of the underlying transaction as long as there is sufficient commitment to receive such currency.
Residents may also enter into forward forex contracts to sell foreign currency yet to be received for another foreign currency with onshore licensed banks and approved merchant banks up to the tenure of the underlying transactions.
Bank Negara will also allow them to enter into interest rate swaps with onshore licensed banks, approved merchant banks and licensed offshore banks in Labuan.
Meanwhile, exporters will no longer have to submit annual reports for export of goods. Only exporters with annual gross proceeds of more than RM50 million need to submit quarterly reports and the process of submitting such reports is being simplified.
Rules on maintenance of foreign currency accounts (FCA) are also liberalised further. Overnight export FCA limit for approved operational headquarters is raised to US$100 million from US$70 million while overnight limits for export FCA of other resident exporters are also raised based on the average monthly export receipts.
The maximum limit is US$100 million for those with average monthly export receipts exceeding RM$100 million and US$30 million for those with receipts of up to RM50 million or new exporters.
Resident companies with domestic borrowings may also open FCA for non-export receivables and for resident companies without domestic borrowings they may maintain non-export FCA with licensed offshore banks in Labuan but to an aggregate overnight limit of US$500,000.
Resident individuals with fund abroad may maintain a non-export FCA onshore or offshore including with banks in Labuan without any limit.
For resident individuals with foreign currency funds, they can invest in any foreign currency products offered by onshore licensed banks.
To improve access to ringgit funds for business requirement in Malaysia, all permitted ringgit lending limits for various purposes are consolidated into one aggregate limit and raised to RM10 million.
Non-residents may use the ringgit credit facilities for any purpose in Malaysia excluding for financing or refinancing the purchase or construction of immovable properties.
Resident banks and non-banking institutions may extend ringgit credit facilities in aggregate up to three property loans to a non-resident to finance or refinance the purchase or construction of any immovable properties in Malaysia. Purchase of only land is excluded.
For non-resident stockbrokers or custodian banks, onshore licensed banks are now allowed to extend up to an aggregate overnight overdraft facility of RM200 million (RM10 million previously) to facilitate settlement for purchase of shares listed on the Malaysia Securities Exchange Bhd.
Adapted from "Business Times", 27 March, 2004

Quoting tkh33

Disliked

need to observe first, it seems that the bull come back. but need to wait and c is the bull can run up above 38.2 - 50 fibbo. but i actually do not know why GU will come down from 2.1166 to 2.0526 abt 600 +pips. if it is not because of US suddently become strengten, then maybe today Gu will go up again. unless london bank got big problem again loh. well this is my opinion

Ignored

Quoting samsul97

Disliked

Hi Sham..

I cannot answer your pm since i have less than 15 post (to be able to reply to pm's)

to answer your question,.. yes .. I'm still in the dark... miss the train last friday ... if not, I'm in clear beb... heheheh ..

Ignored

Quoting zrul2005

Disliked

GU hour..stoch oredy OB...i think can sell atleast 30pips..

Ignored

Quoting Malaysia

Disliked

That's the spirit Good to be confident if we wanna stay long in this business. Nicely done! From my view... you are more to TA trader. There's nothing wrong with that. But see... you've got questions without answers. From my FA... yesterday tragedy... heard about the BANKS were selling CABLE in the forexnews.com? PPI was also nearly half of the previous month. Indicating of slow economic growth in UK. And some other things that I haven't read about. A knowledge of FA from my humble opinion is essential for me if I wanna last long in the market.

Did you SHORTED already? May the pips be with you As for me... I've planed to wait until LONDON OPEN.... PATIENCE.

Ignored