Forex/Cryptocurrency General Chit Chat Thread

[Mr.Canberra]

USD/SGD

Saw USD fell substantially last friday and wanted to try my luck to see what happened and whether it is a good time to change USD as I am going to US with family in December.

Tbh I know nothing about forex, can any experts advice on whether now is a good time to change or should I wait?

You are asking a very open ended question. This thread is mostly on punting Forex aka speculation (some say gambling) and not what best rate is good to change for USA vacations. To me the Forex market is like an 'online casino' but with odds for winning much higher than brick and mortar casinos.

So if USD/SGD shoot up to 1.4 now are you going to cancel your vacation?

Since you know no nuts about Forex then just change a bit each week to dollar cost average.

 

[Trader11]

Most exciting day since US Presidential Election 2016.

Oh my the multiple prataing can be damn hiong. Do you guys still remember US Presidential Election polling day?

A gentle reminder to all punters to remove your stop loss or stay out the market this week. Don't say Mr.Canberra never remind you.

Xi大哥 whacking Trump back........

 

[Mr.Canberra]

7 consecutive trading days of zero profit.

Ever since Little Rocketman made peace with USA. No more wind. Need to borrow some wind from Uncle Trump.

 

[havetheveryfun]

TRY suddenly recover so much

Mr.Canberra sad bo ? No SL win again if never panic

 

[Mr.Canberra]

EM Currencies

TRY suddenly recover so much

Mr.Canberra sad bo ? No SL win again if never panic

Hahaha make fun of me. But this proves NO STOP LOSS is workable even for EM currencies!

Kanasai if you have US$620,000 worth of leverage contracts like me during August 2018 EM currencies rout I want to see how you handle it. My concern then was a very low margin balance and do not want my account #1 to explode after account #2 had kaput!

Never regret cutting EUR/TRY short position then to risk manage my margin. If I have regrets pondering on every position that I had cut loss before then long ago will have quit Forex trading. Once over just move on. Same like breaking up with ex-girlfriends.

I still have USD/ZAR (0.1 Lot) short position. Recovered quite a bit since August 2018.

 

[Trader11]

TRY suddenly recover so much

Mr.Canberra sad bo ? No SL win again if never panic

That's how big boys win right? Squeeze balls left and right

 

[Mr.Canberra]

Half Baked Course

Here is some afternoon delight that I posted over at the Money Mind folder.

Warning about stocks/forex guru trading courses in the market

If any of you guys attend these so called stocks/forex guru trading courses please do me a small favour.

Ask them about NO STOP LOSS. I want to hear their pro analysis. You can use my signature to counter argue with them.

Q: Can stocks and bonds go to zero?
Q: Can a currency go to zero?
Q: If you are confident about a trade then why the need to have a stop loss? Having a stop loss means you are only 50% sure. So why should I sign up for your course? If that is so then I should have 50% discount for a half baked course.

 

[awful999]

Now only left you as a active trading haha, I am in the progress of setting up a small factory in China, after set up may be got more free time to trade haha, good luck bro

 

[havetheveryfun]

Now only left you as a active trading haha, I am in the progress of setting up a small factory in China, after set up may be got more free time to trade haha, good luck bro

i m trading but i am kacang puteh

u not working ? now trade war looming still dare to set up factory in China ?

 

[awful999]

i m trading but i am kacang puteh

u not working ? now trade war looming still dare to set up factory in China ?

I am in kacang puteh business there too just like my "papaya farm" and for trade war, life still go on in china, trade war on but still got internal need, see which business you are in, not all are affected . In the way I am trading RMB with SGD for this kind of small investment so can say i still trading forex, lolx

I got one friend there set up a small solar street light production, trade war come, did affect his business but after a small adjustment by reducing the size of the panel, he can carry on sell solar panel to USA lol

 

[DukeCS33]

I am in kacang puteh business there too, and for trade war, life still go on in china, trade war on but still got internal need, see which business you are in, not all are affected .

I got one friend there set up a small solar street light production, trade war come, did affect his business but after a small adjustment by reducing the size of the panel, he can carry on sell solar panel to USA lol

All the best in your endeavours.

 

[awful999]

All the best in your endeavours.

thanks bro, I am just one of the sleeping partner, a really small investor, so only initailly need to do some work not much hard work involves

 

[Mr.Canberra]

Now only left you as a active trading haha, I am in the progress of setting up a small factory in China, after set up may be got more free time to trade haha, good luck bro

Haha seems like I am the last one standing. Due to the harder trading conditions I have been working on rebooting and expanding other income streams. Sometimes we need to have some rude awakening to innovate and work on new ideas. The key to survival is to have a diversified multiple streams of income.

It is heartening to hear you are expanding your business horizons. From opening 'Papaya Farm' to open 'Papaya Factory' to process your 'papayas' hahaha.

Maybe we can meet in China for kopi session one of these days.

I am in kacang puteh business there too just like my "papaya farm" and for trade war, life still go on in china, trade war on but still got internal need, see which business you are in, not all are affected . In the way I am trading RMB with SGD for this kind of small investment so can say i still trading forex, lolx

Yes trade war or not, life goes on in China. The domestic consumption is here to stay and not going to disappear in a drastic manner. If we use SGD as funding currency many forms of businesses in China are still doable due to the big market and lower entry barrier in Tier 2, 3 cities. In Singapore if you do not have at least S$300,000 do not ever think of opening a small Kaya Toast coffeeshop. But with RMB1.5 Million you can open a medium size F&B restaurant in China.

In Singapore I do not even bothered about nonsense such as PayNow. Once you are accustomed to WeChat you can do voice/video calls, text messaging, online shopping, pay bills, book taxi, transfer/receive money, MMFs (foreigners barred), etc. Basically everything!

 

[Mr.Canberra]

EUR/USD

Just cleared another NO STOP LOSS stucked EUR/USD long position.

Total realised US$37.70 KFC profit. Amount just nice cover swap interest for October 2018.

 

[Mr.Canberra]

EUR/USD

Total realised US$91.70 KFC profit.

Usually when a stubbornly stucked position has been cleared the reversal trend will happen. Time to short hor yi si!

 

[havetheveryfun]

USD jiak sai ?

 

[Mr.Canberra]

EUR/JPY

Just cleared another NO STOP LOSS stucked EUR/JPY long position.

Total realised US$126.65 Din Tai Fung profit.

 

[Mr.Canberra]

USD

USD jiak sai ?

Temporary weakness for now as the US mid term election is over.

USD strength more or less priced in till end 2018. After Dec 2018 rate hike the USD will weaken slightly. Meanwhile the market is going to speculate how many rate hikes will happen for 2019. This will be the breakout move to either up or down the trend line.

Today is good for USD/SGD dip buying for those who are going for USA jiak hong trip in December.

Intraday low 1.36852. Mr. revhappy must be screaming now!

 

[Mr.Canberra]

Unrealised Loss

Unrealised Loss
31/10/2018: -US$28,600
01/11/2018: -US$24,200
07/11/2018: -US$19,000

Power of NO STOP LOSS. Richer by US$9600 today for not chua sai.

 

[Trader11]

Unrealised Loss
31/10/2018: -US$28,600
01/11/2018: -US$24,200
07/11/2018: -US$19,000

Power of NO STOP LOSS. Richer by US$9600 today for not chua sai.

Jin song....profiting from NZD breakout

AUDNZD chuasai badly