Forex/Cryptocurrency General Chit Chat Thread

[awful999]

USD/CAD charging up!

oil is coming down today..

 

[Mr.Canberra]

GXGX, good to huat in day one of Chinese new year.

I huat some on long Nikkei CFD in and UJ@105.7

Huat huat huat

Hahaha slight USD strength returning.

Damn wasted EUR/TRY continues to plunge after I took profit.

oil is coming down today..

Oil price drop is good for my AUD/USD, NZD/USD, USD/CAD positions.

 

[xmthere]

Hi

I'm a rookie and following the thread for a while. Was wondering which broker do you all use and the estimated initial capital to trade forex?

Thanks

 

[Mr. Wood]

Hahaha slight USD strength returning.

Damn wasted EUR/TRY continues to plunge after I took profit.



Oil price drop is good for my AUD/USD, NZD/USD, USD/CAD positions.

https://www.bloomberg.com/quote/CO1:COM
Looks like oil prices is still rising trend. might go to $80-100 region

 

[Mr. Wood]

Hi

I'm a rookie and following the thread for a while. Was wondering which broker do you all use and the estimated initial capital to trade forex?

Thanks

can start as low as $500.
to choose a broker, go to iocbc, Philips, maybank, onada, cityindex, pepperstone, etc and sign up for a demo account first. see if you like their platform and understand their charges first.

but $500 if you are working full time and take long term positions, the fluctuations can easily take u out.

 

[Mr. Wood]

Monday US holiday.

 

[awful999]

https://www.bloomberg.com/quote/CO1:COM
Looks like oil prices is still rising trend. might go to $80-100 region

From my still poor TA chart, it may retest 60 or may be 59 before resume the bull trend

 

[xmthere]

can start as low as $500.
to choose a broker, go to iocbc, Philips, maybank, onada, cityindex, pepperstone, etc and sign up for a demo account first. see if you like their platform and understand their charges first.

but $500 if you are working full time and take long term positions, the fluctuations can easily take u out.

I see. Do you put stop loss or wait until margin call on long term positions?

 

[MrSinkie95]

Here is crypto or forex thread?

 

[Mr.Canberra]

Here is crypto or forex thread?

Mainly Forex discussion but we like to mix in some Crypto discussions as well.

Forex is also related to Futures and Options so it is not uncommon to talk about Futures and CFD as well. There are Futures and CFD trading for Crypto also.

 

[Mr. Wood]

I see. Do you put stop loss or wait until margin call on long term positions?

personally i will put stop loss only for obvious trends. otherwise for high volatility markets stop loss can work both ways.

 

[Mr. Wood]

From my still poor TA chart, it may retest 60 or may be 59 before resume the bull trend

u may be right.

 

[Mr.Canberra]

personally i will put stop loss only for obvious trends. otherwise for high volatility markets stop loss can work both ways.

If your account does not have guarantee stop loss then be prepared for slippage if there are any flash spike/crash. Your stop loss price may be hundreds of pips away from your intended price due to slippage.

u may be right.

With prices stabilising I believe shale oil producers will ramp up production and that will put pressure on any price upside.

 

[havetheveryfun]

If your account does not have guarantee stop loss then be prepared for slippage if there are any flash spike/crash. Your stop loss price may be hundreds of pips away from your intended price due to slippage.

thought u are an advocate of no stop loss strategy ?

 

[awful999]

u may be right.

just guessing , I don't have postions in oil or CAD. As for US dollar now can only hope

Bitcoin back up 11k, too bad I already TP at 10k

 

[Mr.Canberra]

thought u are an advocate of no stop loss strategy ?

Yes.

I am pointing out the possible dangers of placing a stop loss during volatile periods or freak event.

I just remembered that I survived a GBP /USD flash crash before. NO STOP LOSS. Not so lucky for many traders as their stops got taken out but at a very unfavourable rate due to slippage. Some accounts KABOOM due to low margin!!!

 

[Mr.Canberra]

Mr.Canberra Forex Trading Performance 2018

The power of maintaining a basket of major currencies helped lifted the ROI in SGD terms.

While USD depreciates, the JPY portion of holdings lifted up the shortfall.

Tip: Learn more about MAS monetary policies.

My trading work year starts and ends in June. So far 7.5 months of trading grossed S$15,625.53 of realised profit. Unrealised loss estimated at US$10,000. Not a problem for me because positions will rollover perpetually. See my signature on why I am so confident.

I will accelerate partial asset rotation from CNY Fixed Income to Forex trading so will have more margin to hoot contracts.

If I work in fast food restaurant for 7.5 months I do not think will achieve S$15,625.53 of income. Such is the fate of blue collar workers especially those in fast food industry in Singapore.

I hope by sharing my financial management experience and Forex trading knowledge I can help or make a difference to those underprivileged individuals out there so they can benefit and lift themselves out of their present predicament by not blindly following what the system dictates.

More good years coming with possible GST hike announcing on 19/02/2018 (Mon) 3pm.

____________________________________________________________
PROFIT & LOSS (REALISED) 2018

30/06/16 - 30/06/17: S$4003.67 [2016 ROI 27.61%]
31/07/17: S$1264.09 [Jul ROI 8.42%]
31/08/17: S$5806.60 [Aug ROI 35.69%]
30/09/17: S$4157.42 [Sep ROI 15.94%]
31/10/17: S$1944.68 [Oct ROI 5.85%]
30/11/17: -S$1843.27 [Nov ROI -5.24%] <-Drunk trading. One off folly.
29/12/17: S$1299.92 [DEC ROI 3.90%]
31/01/18: S$1565.13 [JAN ROI 4.52%]
16/02/18: S$1430.96

~12 trading days till date for month of Feb 2018.

LIFETIME PERFORMANCE SINCE JUN 2016 (19 MONTHS)
101.10%

STRATEGY: CARRY TRADE/NO STOP LOSS
____________________________________________________________

 

[xmthere]

Yes.

I am pointing out the possible dangers of placing a stop loss during volatile periods or freak event.

I just remembered that I survived a GBP /USD flash crash before. NO STOP LOSS. Not so lucky for many traders as their stops got taken out but at a very unfavourable rate due to slippage. Some accounts KABOOM due to low margin!!!

How much you leverage for that?!! :O

 

[Mr.Canberra]

GBP/USD

How much you leverage for that?!! :O

1:33 only.

Local brokers have lower leverage policy. Although this may not sound so good for those who like higher leverage but your positions will not get auto liquidated when margin falls low.

Next day your broker will call or your account will receive T+2 margin call or email reminder to top up account.

I really worry for some of you folks out there that place stop loss orders without a guarantee stop loss account. The slippage can be really killer if there are any freak flash spike/crash events! I am not kidding. I know people who kena insane slippage during a flash crash.

On one of the GBP/USD flash crash I survived a 1000 pips plunge! Really epic when I woke up and tio stun when I open my account. I did not receive margin call because my strategy is NO STOP LOSS. I also have ample margin and price recover to less extreme levels. That cannot be said for many unlucky souls worldwide who kena slippage and positions stopped out, account KABOOM and run into deficit plus owing broker money!

Recently there is one bro who posted that his Futures account KABOOM and lost plus owe broker S$90K in total during the recent US stock correction.

 

[havetheveryfun]

Yes.

I am pointing out the possible dangers of placing a stop loss during volatile periods or freak event.

I just remembered that I survived a GBP /USD flash crash before. NO STOP LOSS. Not so lucky for many traders as their stops got taken out but at a very unfavourable rate due to slippage. Some accounts KABOOM due to low margin!!!

oh ok.. u are just trying to say that even with a stop loss in place, one can still lose a lot more than that right ?

e.g. long something at $1

stop loss at $0.90

but next day flash crash and gap down, open at $0.50.. your position will get stopped out at $0.50 instead of $0.90