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Help needed in OANDA + users from Malaysia 105 replies

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Malaysia

  • #18,261
  • Sep 7, 2008 8:08pm Sep 7, 2008 8:08pm
morning guys!

it was great last week and hopefully it will continue for this week. good luck to everyone. looks like we have big gap in every pairs.

will wait for the price action whether it will close the gap or not. for the moment, stay aside. or maybe there'll be no trade today. the market will
decide this week's trend.

let's pipping.
  • #18,262
  • Sep 7, 2008 8:40pm Sep 7, 2008 8:40pm
Quoting sorsurus
morning guys!

it was great last week and hopefully it will continue for this week. good luck to everyone. looks like we have big gap in every pairs.

will wait for the price action whether it will close the gap or not. for the moment, stay aside. or maybe there'll be no trade today. the market will
decide this week's trend.

let's pipping.
Morning bro!!!I think it's a different ball game now compared to last week....US gov. takeover of Freddie Mac And Fannie Mae is the long awaited news by the investors to stabilize the stock market....For the short term I think it's good for the carry trade....Anyway, went long on GU(BFD) and sl on BE already.....Good luck to all.....
  • #18,263
  • Edited 9:48pm Sep 7, 2008 9:06pm | Edited 9:48pm
Quoting xeNOS
Hi all ,

jz wanna know... is our forex income taxable ? if yes then how much is it ? has any1 stumble upon this issue ?

hope to hear from u guys soon !

njoy ur wkend !
maybe this will justify a bit for you.

INCOME TAX ACT 1967 (ACT 53)
PART II - IMPOSITION AND GENERAL CHARACTERISTICS OF THE TAX
ection 3B. Non-chargeability to tax in respect of offshore business activity.
Notwithstanding section 3, tax shall not be charged under this Act on income in respect of an offshore business activity carried on by an offshore company.

reference site here: http://www.kpmg.com.my/kpmg/publicat...x/22/a0053.htm

Lembaga HASIL DALAM NEGERI will charge tax based on your income generated in Malaysia and not income from oversea,.. however to avoid problem with LHDN, do not transfer too frequent money to your account in short period of time, i suggest you transfer on routine basis just like your monthly salary been paid. This is to avoid you been interrogate by another unwanted dept.(such as BNM) under AMBLA (ANTI MONEY LOUNDERING ACT). So it is important you keep all the record necessarily. do some proper documentation on every transaction. Keep your trading record such as monthly trading statement. Those documentation will help you in future if you been interrogate by those dept.
"A smooth sea never made a skilled mariner"
  • #18,264
  • Sep 7, 2008 9:07pm Sep 7, 2008 9:07pm
Quoting wakli
Morning bro!!!I think it's a different ball game now compared to last week....US gov. takeover of Freddie Mac And Fannie Mae is the long awaited news by the investors to stabilize the stock market....For the short term I think it's good for the carry trade....Anyway, went long on GU(BFD) and sl on BE already.....Good luck to all.....
................

ok got to goo,..meeeet the thing (meeting)
"A smooth sea never made a skilled mariner"
  • #18,265
  • Sep 7, 2008 9:34pm Sep 7, 2008 9:34pm

just feel like it is going to be a good day...

happy trading all...
  • #18,266
  • Sep 7, 2008 9:39pm Sep 7, 2008 9:39pm
Quoting wakli
Morning bro!!!I think it's a different ball game now compared to last week....US gov. takeover of Freddie Mac And Fannie Mae is the long awaited news by the investors to stabilize the stock market....For the short term I think it's good for the carry trade....Anyway, went long on GU(BFD) and sl on BE already.....Good luck to all.....
is it means usd will looks stronger.....
at last i`ve found a holygrail........
  • #18,267
  • Sep 7, 2008 9:51pm Sep 7, 2008 9:51pm
buy 1.4307 eur/usd - green pips..still on
  • #18,268
  • Sep 7, 2008 11:07pm Sep 7, 2008 11:07pm
Due to the price already break the reversal critical line 1, therefore the previous alt counts in magenta and yellow is already invalid. Please be noted that market now either in bullish retracement trend (magenta or yellow) or already in bullish reversal trend. Another bearish continuation trend later once wave 4 is already completed would favour to the alt count in magenta (truncated) or yellow (impulsive). Otherwise a further breakout to the reversal critical line 2 would favour to the bullish reversal trend scenario. Good luck.
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  • #18,269
  • Sep 7, 2008 11:59pm Sep 7, 2008 11:59pm
Quoting zurin
is it means usd will looks stronger.....
It depends as well....My bet now is correction for cable and fiber are in store....
  • #18,270
  • Sep 8, 2008 12:00am Sep 8, 2008 12:00am
Quoting AWIE
................

ok got to goo,..meeeet the thing (meeting)
Waaa so busy bro!!!!
  • #18,271
  • Sep 8, 2008 12:59am Sep 8, 2008 12:59am
Hi R00m,

Oklar for morning session, 15greens, 6trade 1lost.
Going for lunch, taking some break ...

Practise again later.
Banker please return my pipins.
  • #18,272
  • Sep 8, 2008 2:31am Sep 8, 2008 2:31am
thx AWIE for the info...

Wakil, could u kindly elaborate briefly on the freddie and fannie issue as how does it affects the market? does it mean that it'll be favorable to the US currency ? or the others ? interested to noe more here.. thx !

happy trading!
  • #18,273
  • Sep 8, 2008 2:40am Sep 8, 2008 2:40am
some news to share.. shall we stil look for a higher dollar? or some correction this wk ?

Quote
07:35 USD/JPY: Relatively Steady As London Treads Cautiously London, September 8. USD/JPY and the JPY crosses soared in early Antipodean trading today on news over the weekend that Fannie Mae and Freddie Mac would be taken over by the government. Rumors of this taking place were already heard in late New York trading Friday but there was no confirmation until the weekend. USD/JPY and most JPY crosses gapped higher. USD/JPY soared to as high as 109.05 before pushing back down to 108.01, EUR/JPY to 157.07 before retracing to 155.11 and GBP/JPY to 195.65 before falling to 192.90.
Into European trade and the extremely thin trading conditions witnessed in Tokyo look to have spooked traders into a cautious corner. USD/JPY is treading water at 108.50 while EUR/USD and GBP/USD fall hard. Japanese corporate interest smacks of disappointment from importers and smugness from exporters. Orders reportedly sit at 108.00-20 and 109.00-20.
Big picture dynamics still point to a higher Dollar and with the carry trade edging back into favour the outlook is for last week"s 109.20 highs to be bettered. However, much now depends on how the U.S market responds to the mortgage news. Pre-open action on bonds and stocks shows optimism but once the dust settles and markets reflect there is risk of profit taking. [email protected]
  • #18,274
  • Sep 8, 2008 3:04am Sep 8, 2008 3:04am
Quoting AWIE
maybe this will justify a bit for you.

INCOME TAX ACT 1967 (ACT 53)
PART II - IMPOSITION AND GENERAL CHARACTERISTICS OF THE TAX
ection 3B. Non-chargeability to tax in respect of offshore business activity.
Notwithstanding section 3, tax shall not be charged under this Act on income in respect of an offshore business activity carried on by an offshore company.

reference site here: http://www.kpmg.com.my/kpmg/publicat...x/22/a0053.htm

Lembaga HASIL DALAM NEGERI will charge tax based on your income generated in Malaysia and not income from oversea,.. however to avoid problem with LHDN, do not transfer too frequent money to your account in short period of time, i suggest you transfer on routine basis just like your monthly salary been paid. This is to avoid you been interrogate by another unwanted dept.(such as BNM) under AMBLA (ANTI MONEY LOUNDERING ACT). So it is important you keep all the record necessarily. do some proper documentation on every transaction. Keep your trading record such as monthly trading statement. Those documentation will help you in future if you been interrogate by those dept.


I have a question here. Let say, in the future, i transfer money frequently and in a big sum of money, they have no right to freeze my money if i can show them that's my trading money right? Except I might be getting a bit delay in getting the money. That's all, correct?
  • #18,275
  • Sep 8, 2008 3:06am Sep 8, 2008 3:06am
hahaha...was on the wrong side of the trade but fortunately got covered by EU drop down. close the trade already and will wait for another chance.

was so scared because the first trade was wrong. hahaha...need to be more careful with today's trade. still waiting where the market will really go.

don't like monday.
  • #18,276
  • Sep 8, 2008 3:51am Sep 8, 2008 3:51am
Quoting xeNOS
thx AWIE for the info...

Wakil, could u kindly elaborate briefly on the freddie and fannie issue as how does it affects the market? does it mean that it'll be favorable to the US currency ? or the others ? interested to noe more here.. thx !

happy trading!
Freddie and Fannie are the biggest mortgage lender in US...They are having a real trouble regarding their liquidity due to wrong business decision....To make it simple,if these two collapse people in the US will having real trouble to apply for housing loan since most of the people only buy a house on loan....Luckily, the US govt pumping a lot of money to save them....I'm not so sure whether it will good for US dollar but it will definitely very good for the stock market....In the other word,the stock market is skyrocketing now.....Means it will good for carry trade.....Please correct me if I'm wrong.....
  • #18,277
  • Sep 8, 2008 5:50am Sep 8, 2008 5:50am
so quiet compared to few months ago.... when forex moves everybody loose money ?
  • #18,278
  • Sep 8, 2008 6:18am Sep 8, 2008 6:18am
Quoting longway2go
so quiet compared to few months ago.... when forex moves everybody loose money ?
It depends my friend, well the sea is always calm before a storm.

But here very noisy before the storm. After the storm very quiet.

Hrrm....
  • #18,279
  • Sep 8, 2008 7:36am Sep 8, 2008 7:36am
Haha,

Well it's true, after storm is quiet. I got a bigger reality storm that my comp closed down. I guess gotto stop trading and start hunting for good survival ground. When can I live as a trader....

Banker please return my pipins.
  • #18,280
  • Sep 8, 2008 8:20am Sep 8, 2008 8:20am
Everything goes wrong.. spechlesss..
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
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