*Official* Forex Trading thread.

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not sure if u all interested...i suggest just for the fun of it...we should all pool some money..and then have a mini competition. winner takes the pot.

makes things here more fun..here ghost town riao..
 

kelvin_99

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Some brokers like Phillip Futures allow you to hold whatever currency that you have traded in your account until you decide to convert to another currency. It will not auto convert your profits back into base currency. In this case SGD.

Eg. USD/CAD pair. Any P/L will be settled in CAD. If you close position and have profit then CAD will be credited into your account.

Conversion rate spread confirm better than money changer.

Although Phillip Futures may not have the best spreads out there but I like being able to keep a basket of currencies as I can hedge. When one currency is down the other currency will make it up. :s13:

My basket consists of CAD, CHF, JPY, USD, SGD.

I suppose you do not have to create 5 different accounts for each currency. If that is the case, just curious how they track your overall margin level if they are in 5 different currencies - unless they convert to a base currency only for monitoring purposes . Anyway, this looks like what I am looking for if they can have it all in 1 account. Thanks for the info! :)
 
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I suppose you do not have to create 5 different accounts for each currency. If that is the case, just curious how they track your overall margin level if they are in 5 different currencies - unless they convert to a base currency only for monitoring purposes . Anyway, this looks like what I am looking for if they can have it all in 1 account. Thanks for the info! :)
i was with poems, securities. they allowed same thing. overall margin, convert to sgd. single account.

but to play fx on phillips, is under phillips futures. i'm just assuming same style.
 

Mr.Canberra

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I suppose you do not have to create 5 different accounts for each currency. If that is the case, just curious how they track your overall margin level if they are in 5 different currencies - unless they convert to a base currency only for monitoring purposes . Anyway, this looks like what I am looking for if they can have it all in 1 account. Thanks for the info! :)

All different currencies under one account. Daily exchange rate will determine how much USD is available in your account for margin trading. However your various currencies are intacted and not auto converted to USD unless you choose to.

That is why I advocate to maintain a basket of major currencies to hedge. Don't know why no one is practicing this except me? :s13:

If one currency is down, the other currency will make up the shortfall in USD terms. :D
 

kelvin_99

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All different currencies under one account. Daily exchange rate will determine how much USD is available in your account for margin trading. However your various currencies are intacted and not auto converted to USD unless you choose to.

That is why I advocate to maintain a basket of major currencies to hedge. Don't know why no one is practicing this except me? :s13:

If one currency is down, the other currency will make up the shortfall in USD terms. :D

Very elegant strategy - you decide how and when your P&L is to be settled :) I am looking along this line as well.

So out of curiosity, if for e.g. you have 2 positions in USD/CAD (whether both long, both short; or one long and the other short), the system allows you to have one trade settle in USD while the other in CAD?
 

majora

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Hello people, is there any good book/ebook to read on forex for beginners? And regarding a demo account, which one should I go for? The official demo account from forex?

Thanks for the help!
 

kelvin_99

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Hello people, is there any good book/ebook to read on forex for beginners? And regarding a demo account, which one should I go for? The official demo account from forex?

Thanks for the help!

I am sure there are many free demo accounts, but for a start you can try OANDA (no time limit) or Phillips Futures (30 days). Good luck!
 

edwardZ

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Hello people, is there any good book/ebook to read on forex for beginners? And regarding a demo account, which one should I go for? The official demo account from forex?

Thanks for the help!

you can try the MetaTrader 4 mobile app too. Demo account creation is just one click as all the fake details are already set up for you.
 

maxinger

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forex markets not moving much because big boys waiting for big news this evening or this Fri evening.

But not all markets are dead.
crude oil is moving up.
simsci future & Taiwan index future are moving today in anticipation of this evening news.
 

Jimmy81

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Currently shorting cadjpy and usdjpy. What are your open trades now? Looking at gbpjpy too but yet to enter
 

maxinger

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Currently shorting cadjpy and usdjpy. What are your open trades now? Looking at gbpjpy too but yet to enter

all the best mister.
lately jpyusd and goldusd are rather correlated.

gbpjpy is now in bear channel. do note that gbppy is around the lower side of bear channel.
 

Jimmy81

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all the best mister.
lately jpyusd and goldusd are rather correlated.

gbpjpy is now in bear channel. do note that gbppy is around the lower side of bear channel.

Yup, i plan to close my usd trades before the Nonfarm payrolls tomorrow.
Thinking of shorting the GBPJPY on retracement if there's any. Any regular forex traders here? Maybe can setup a whatsapp group to share ideas and learn together
 

Mr.Canberra

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Last night my stucked NZD/USD short position recovered and closed with US$5.00 cai png profit. :s13:
 
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