*Official* Forex Trading thread.

[marknewlife]

Haha my call zhun right? Long term EUR is up trend till year end.

Now chiong up is due to USD weakness. When London and New York open might prata.

U trade intraday or what timeframe?

earned back cab fare yesterday looking at minute chart.
too emotional to stomach.

 

[Mr.Canberra]

Year end is when? Q4???

Yes before market close for Christmas.

U trade intraday or what time frame?

earned back cab fare yesterday looking at minute chart.
too emotional to stomach.

M1 chart. But reference H1 and daily chart for general direction. NO STOP LOSS.

Yesterday the price action very hiong. My USD/CAD long position is currently down -1000 pips (US$1000).

Yesterday only took in US$79.00 KFC profit. What a pity as tio stucked after a brief scalping session.

This morning woke up and discovered my stucked NZD/USD short position closed with US$55.00 KFC profit. Open another position and stucked again haha.

 

[Mr.Canberra]

Forex Brokers

Hi Mr. Canberra,

Can i seek some advice on which brokers to use for forex trading?

Lets say i am planning to do scalping/day trading, with a small amount of SGD 5k, which brokers do you recommend?

I know i should look for brokers with low spread, and are not market makers. Thus looking towards interactive brokers (but they seem to cater to professional traders).

Another popular option is Oanda, but they have wider spread and might not be suitable for scalping. The amount im trading is small, so will it affect me greatly?

Do correct me if im wrong anywhere thank you

Replying this PM here to benefit others as well.

Unable to advise you on various brokers as I am comfortable using Phillip Futures non-commission account. If you have the skills you do not have to worry about spreads. 2-3 pip spread per trade can be easily earn back. I do not want to crack my head to calculate how much to break even less commission whenever I trade. Commission will eat into your profits.

Low spread brokers with commission is only useful if you are a big player such as 1 time hoot US$1 Million or more contract. Just need to scalp few pips per trade can huat until BLC haha.

I do not know how small you play but standard lot (US$100,000) scalping then can see decent profits. Take note that I started with playing mini lot (US$10,000) for a year before I hoot standard lot. Last month 'fat finger' click and hoot US$150,000 contract. Then after a while got used to it and have more courage to play standard lot.

Before you hoot standard lot please practice trading with micro or mini lot for a long period to train your heart first to take the volatility.

I recommend everyone to watch this old school 1986 Forex Trading documentary. In summary the fundamentals of Forex never change. It is all about your skills and experience.

https://www.youtube.com/watch?v=mNmbjQhTHnE

 

[Mr.Canberra]

London traders lip lai liao.

Be careful of price prata at the top of the hour (4pm).

 

[Mr.Canberra]

Happening right now is day 2 of Yellen jie jie's testimony.

Hope price prata soon and let me huat.

 

[Mr.Canberra]

PRICE PRATA LIAO! PRATA LIAO!

YELLEN JIE JIE WAN SUI! Never fails to disappoint!

 

[marknewlife]

PRICE PRATA LIAO! PRATA LIAO!

YELLEN JIE JIE WAN SUI! Never fails to disappoint!

camping for tips!

 

[Mr.Canberra]

camping for tips!

Last night you huat liao is it?

I no huat as one position was unable to pass through the finishing line. Touch on the dot then U-Turn. Really WTF!

Today all so quiet? Accounts all burst as investors unwind positions?

USD/SGD is value buy now. Drop until like lao sai.

 

[Mr.Canberra]

USD/CHF

Kum xia the London traders. Phew finally managed to clear one stucked for weeks USD/CHF long position.

Kio humble cai png profit US$5.22 so far.

 

[Mr.Canberra]

Red Alert

Investors freaked out sia!

Many stops triggered! Many sure bang balls? Anyone?

 

[marknewlife]

Last night you huat liao is it?

I no huat as one position was unable to pass through the finishing line. Touch on the dot then U-Turn. Really WTF!

Today all so quiet? Accounts all burst as investors unwind positions?

USD/SGD is value buy now. Drop until like lao sai.

no huat big. only managed earn bus fare

 

[Mr.Canberra]

no huat big. only managed earn bus fare.

Nowdays bus fare every year keep upping also very chum.

Same here this week really no form sia.

Some more my NZD/USD standard lot position down by -US$500-800 today.

 

[BianTaiTrader]

Nowdays bus fare every year keep upping also very chum.

Same here this week really no form sia.

Some more my NZD/USD standard lot position down by -US$500-800 today.

This week lost 6k

 

[Jedihan]

Haiz cut most and lost 10K, still got hold 3 lots of GBP/usds left. Why chiong so much...

 

[Mr.Canberra]

This week lost 6k

Haiz cut most and lost 10K, still got hold 3 lots of GBP/usds left. Why chiong so much...

My goodness so many big punters but all diam diam never post much! I post KFC profit updates very malu sia!

GBP/USD shot up above 1.30. Looking on hindshight damn regret. Have one stucked position at 1.32X but cut loss with US$500+ damage a few weeks ago.

You shorted GBP/USD right? Now USD strength has started to retreat till year end. Be careful as balance sheet reduction is a talk up by the Fed!

Again I would like to encourage all newbies or veterans to post calls or talk cock to make this thread more lively and enjoyable. I will report troublemakers to Mod so please do not feel shy to post your views. All calls are welcome and respected as long as done in friendly manner. No right and no wrong. I make wrong calls also haha.

 

[awful999]

Last week a bad week for me haha, due to greed, keep chasing high and higher on UJ, end up kena blue black now, but lucky only lost the profit make from previous week , have to look forward now after his lesson learnt...

 

[marknewlife]

sho many play standard lots.
moi ish novice play minis.

 

[marknewlife]

My goodness so many big punters but all diam diam never post much! I post KFC profit updates very malu sia!

Yr kfc profit not simpur hor...

You shorted GBP/USD right? Now USD strength has started to retreat till year end. Be careful as balance sheet reduction is a talk up by the Fed!

looking for opportunity to long gbpusd tmr

 

[bluesurfer]

hi all,

what is the outlook for aud/sgd in the next 3 months?

 

[Jedihan]

My goodness so many big punters but all diam diam never post much! I post KFC profit updates very malu sia!

GBP/USD shot up above 1.30. Looking on hindshight damn regret. Have one stucked position at 1.32X but cut loss with US$500+ damage a few weeks ago.

You shorted GBP/USD right? Now USD strength has started to retreat till year end. Be careful as balance sheet reduction is a talk up by the Fed!

Again I would like to encourage all newbies or veterans to post calls or talk cock to make this thread more lively and enjoyable. I will report troublemakers to Mod so please do not feel shy to post your views. All calls are welcome and respected as long as done in friendly manner. No right and no wrong. I make wrong calls also haha.

Yup I am doing million dollar trades (10 lots), scalping at few hundreds a day... ya I really playing too big for a newbie. I Guess I was addicted to beginner luck.

I usually post losing trades here only, but I did win enough to take this loss though it means all that month effort went down the rain.

I just closed out the 3 lots I had for a small profit. Maybe time to rest before my next one.