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Forex Junction

Techsys... :)
Thanks ... you are very helpful...

Since InterbankFX has no local rep, what about margin payments, etc? By what means? ..

And what do you think of the ebook I  introduced below?

 

Hi Mani, I just earn 30 pips.  Means 30% when we are talking now .

It's about 264 USD.  Total today is 43 pips. 

My comment about that article, most of people who join FX competition are not profesional trader.  Profesional trader is more likely to pursue real money than fake money.  They are not likely wanna prove themselves to other. 

About interbankfx and saxo.  Saxo has representative in singapore.  at Church Street.  Interbankfx is forex broker in US.  interbankfx platform is great for learning.  Saxo platform is more advance.  I use both of them actually.  I hate saxo a bit, their platform sometime react too slow, probably it's because their software is still under evaluation.

 

Here is an 'out-of-the-box" guide to Forex Trading...

titled:- "Birdwatching In Lion Country" by DrForex (click to see)

 

"FX STREET.COM TRADER OF THE YEAR CONTEST 2007

In 2007 this contest again underlined the complexity of trading. Only a small percentage of traders could sustain profitability.  Out of more than 50 contestants who entered, only 2 made positive returns (35% and 136%) by the end, 4 months later, September 30th 2007."

Browsed the forex content on the net, I found the above comment by a forex pro...  

 

Any comparison between Interbankfx and Saxobank?

 

Techsys ... :)

For me, emotion is not a problem.. . But lack of it probably is my problem...

You see, I hardly rejoice at big profits. And losses are promptly dumped without batting an eyelid...

 

Hi mani,

go to here to install the application. 

http://www.interbankfx.com/

There is metatrader 4.0 ... install it and open an demo account ... Demo account will be expire within 30 days .. and in this case, open another account ...

 

 

TabbyKat. Thanks ... :)

Where do I monitor the live quotes of currencies? Which site URL?


I am super ardent passionate to get started...

Hope Elfin, ShPlayer, Singaporegal, etc.. (in view of the dull stock market) will follow soon...

 

:D watch your emotion Mani.  If you think you should .. then go for it ... I have no personal experiance with this GraceCheng.  I trade using my own technique ...

 

Hi Mani,

If you are a keen trader and have passion in trading, you will benefit from learning.

Now that you are really a newbie in forex without any other influences, you will benefit from attending a course and stick to it faithfully. You should not have doubt. Just do it.

Very few people is currently doing well trading equity. Thats why I switch to Forex. But you need training. Then start with 1 mini lot at US$1 a pip. cut lost at 30 pips i.e. US$30. That's affordable.

Now I must attend to my Forex alert!

Cheers

Cheers

 

The GraceCheng Online Forex course costs US$699...

Now there's a bonus book given if I sign up by X'mas eve... within 3 days...

Do you think I should do it?...  

 

Hi Mani,

In forex, you should be very cool, no emotion may attach here.  Once emotional get playing with you, you are better stop for a while.  Like what I mentioned, FX's turmoil is extreamly big.  If you can't control yourself, you already loss. 

Get started by paperwork.  Once you confident with your strategy, you can start using 1 mini lot.  Increase step by step ... up to 10 mini lots which is equal with 1 standard lot.

Using 30k, you only play max 15k.  The other half is used for your margin call.  Yes, if you are profesional FX trader, 1 month at least you may catch 65% win.  But mostly they able to catch arround 150%.  I saw my friend trading record, and there is a record 500% win in 1 week.  Arround July 2007.  He won 8xx% that month.  And he has institution account.  Can you imagine why rich people will be richer ... ?

Like what tabbicat explain, try 1 mini lot first.  Open your account at SaxoBank first, just go down to their office at churchstreet.  3000 SGD is needed to open mini account, 10k SGD for standard account. 

 

 

Why not? Try it and stick to her rules/strategies. Apply them faithfully and see how you fair after a year. Last I visit her site, the course fee is about $500.

My course fee is as follows :-

Forex Freedom - Free download from this Forum under Trading Training.

Master Trader ebook - shared with Cashier at $10.

Dynamic TNT ebook - shared with Cashier at $10.

Now profiting from trading at about $140 per day. Not per week as mentioned earlier.

Cheers

P.S. Whether you follow GraceCheng or Clerence Chee, stick to one strategy.

 

Do you think I should attend a GraceCheng trading course?...

 

Hi Mani,

Wow 30K!

I only started with 1k as a beginner. Size does matter. Ask Cashier.

With this 1k, I netted about $140 per week. ie $560 a month. If I have $30k, it would approximately be $16800 a month. However, if I have 30k, I would still start with 1 mini lot and slowly build up to 1 standard lot when my skill improve.

In her book, Toni Turner wrote "the stock market crash of 2000 sent equity traders scampering to find new trading products. That's one reason global currency markets, also known as fores, has enjoyed a newfound popularity among traders."

I guess now is the time for me stay away from equity and trade Forex. Dow is erractic and I often got burned.

Try it. Practice trading with 1 mini lot. Earn money while learning.

I use ebook Master Trader and Forex Freedom for money manager strategies. Coupled with Dynamic TNT's technical strategies. Key in my trade, key in my stop level and key in my profit target then go to sleep. Next morning, richer by hundred plus. KISS.

Cheers

 

Techsys... :)

You mean I one can make  more than $20k a month trading in forex?

Wow... then I must start immediately!... Any tips for a starter?  Should I stop working now?...

 

Hallo Mani,

Finally you are talking about FX. 

My daily winning rate is arround 15 - 25%. 

With 30k, you actually can use 15k.  The other half is used for margin call. 

So don't mention about accumulation, 15k for 15% is about 2250 / day.  1 month have 20 days so it will  45k.  But, because there is always a losss trade, so just reduce for half ... so you can have arround 22.5k a month. 

 

Tabbykat... :)

I have not traded forex..

Are you able to give an idea of how much one can reasonably expect to make in a month? ... say with an initial out lay of only $30k?..

 

Hi CashierTan

I have started trading with Dynamic TNT strategic for a week and able to capture daily profits. I have upgraded myself to trade 2 mini lots now. Very promising.

Try its 6MA crossover 23MA. Very profitable. Your view please.

Cheers

 

Just wondering, anyone using pivot levels for support/resistance trading?

For my case, I'm gonna try out paper trading 1st. Need to get 'into the zone' gradually.