Free Spread Trading, how could this possible

Today browsed the Internet and found out that some of the brokers are offering no ‘Spread’ or ‘Commissions’ for position closed without profits. This is a good opportunity for traders which have multiple opening in a single day.

Technically speaking, this move will help the traders to cut more losses against the ‘Spread’ or ‘Commissions’. However, re-think back; how would the Forex brokers make money by not charging the clients on all the positions open with them? The answer to this would be probably on volumes, as this will definitely able to attract tones and tones of new customers to open the account with them.

Lets me try out the demo account on these brokers to see the efficiently of their trading platform offered, and feel free to shares your views

Forex Money Management

This video show you how to manage your money and risk management. Enjoy viewing

Trip to Kuala Selangor in 2010

We drove to Kuala Selangor somewhere in October 2010 for a day trip with my friends. The journey from Kuala Lumpur to destination is around 2 hour and 30 minutes. Below are some of the pictures taken during the visit.

The Clock House at the hill of Bukit Melawati

The Light House on the Top of Bukit Melawati



An unknown object - But special

 

The Treez

Putrajaya Pullman Hotel and Resorts

Last week, I attended a Technical Exchange Conference at Putrajaya Pullman Hotel and Resorts this year. As this is the first time attending the conference, I started my journey as early as 0730 hrs from my home at Petaling Jaya to the venue. The whole journey from home to Putrajaya is around 40 minutes of drive time with Lebuh Raya Damansara-Puchong (LDP).

Video Clip of the Lake View

The Lake Side

I reached the Pullman Hotel at around 0820 hrs and checked in my attendance at around 0830 hrs. While waiting for the conference to start, I simply walk around the Hotel and found out that the hotel is right beside a lake and the overall architecture designs and styles are great.

Center Point of the Pullman Hotel and Resorts

There are multiple blocks of Hotel with around 3-4 floors each, equipped with facilities such as fitness equipments, outdoor swimming pool, Spa and many others. The rooms are distinctively ethnic Malays, Chinese, India and Borneo continent which the great ambiences set.

The Hotel Blocks

Lastly not to forget the restaurant B’s which serves buffet breakfast/lunch and dinner for us with a great taste and great people. I’ll definite visit the Pull man Hotel and Resorts once again.  

LRT - Putra Line

I took the Putraline LRT from Wangsa Maju station to KL Sentral in view of the morning rush hours, as the unusual appointment scheduled at 9:00 am today

Inside the subway approaching one of the station

The journey from Wangsa Maju station to KL Sentral is about 25 to 30 minutes. I'm considered lucky, as the 4 coach train (there also a combination of 2 coach train) is already waiting at the platform heading for KL Sentral.

The train leaving the KL Sentral Station

I reached KL Sentral at around 8:50 am with a buffer of 10 minutes to walk into my office. Overall the services are good but there still a room for improvements. 

The one way  ticket

For the readers benefit, the Putraline LRT line covers 29KM route with 24 stations, which stretches from Putra Terminal in Gombak to Kelana Jaya (Petaling Jaya). Understood from the information displayed, the train is the third longest fully automated metro system in the world. 

My Visit to Batu Caves

Visited Batu Caves yesterday (28 November 2011), and arriving around 1700 hrs by car. Batu Caves is located 15km north of Kuala Lumpur, which is one of the popular travel attractions; particularly during the Hindu festival - Thaipusam - falls in late January each year.



Lord Murugan Statue

The Staircase

Inside the Cave

The Hindu Shrine is located in the Main Cave which 272 steps up. You can buy some bananas to feed the cute monkeys on your way up to the temple / worship place. Also, there is a smaller cave at the foothills which houses the interesting display of Hindu mythology.

The big three of Forex Market Analysis

These ideas will basically talking about the ways on how the trader analyze and ideas to trade the Forex market. Basically there are three types of market analysis

- The Technical Analysis

- The Sentiment Analysis

- The Fundamental Analysis

Frankly speaking, there is no option to choose 'the best' out of the three basic analysis rules before initiate a Forex trade. To be successful in Forex Trading, you need to master all these three analysis mechanism. Some Forex broker will be providing the tools in their trading platform.

Trading indicators and news

Most of the traders are trade using a state-of-art trading indicator such as MACD which usually customize to their needs. Would not discuss the types or indicators and how to use as very subjective to the objective and the trading strategies.


Preferred to trade based on news releases (please refer to the 'Resources' tab) for Forex Calendar on news releases. The most profitable trade is during the release of 'non farm payroll' release by US every first Friday of the month. The pips can be significantly jump between 50 to 100 pips after the release

Currency Pair

Forex currency pair is the pair of currency (example USD/JPY) . Below are the major currency which mostly traded on daily basis. Most of the Forex traders must had traded one of the below pair on their trading journey. Based Internet search engine and FX broker reviews, the trading volume on USD, EUR and JPY are accounted  more than half of the daily volume.









USD - United States Dollar

JPY - Japan Yen Yen

EUR - Euro zone members

GBP - Great Britain Pound

CHF - Switzerland Franc

CAD - Canada Dollar

AUD - Australia Dollar NZD - New Zealand Dollar

Why and who trade Forex

Others than banks and company, most of the daily Forex trading volume are done by the independent traders like you and me. Thanks to the Internet, which allows traders to trades from their home, office or anywhere with Internet access. 


Traders can just open an account with the preferred brokers over the Internet. Using the Internet search engine with key word such as FX broker, there are many results; would be recommended to do survey before signing up. Things to look out for are such as 


- Type of accounts 
- Leverage / Margin 
- Trading Platforms
- Deposit and withdrawal of funds
- Spread
- T & C and many others


Importantly trading in Forex is safer than trading a company shares with can be manipulated by an individual, while a currency represent a country which unlikely or difficult to be manipulated. Other than above, the leverage system allows a trader with minimum amount of fund to trade more than what he/she has in the account. Example if the leverage is 1:100, someone can open a $100 position with every $1 in the account. However the leverage can be 'kill' the position if the position goes against us and margin call will be surface very quickly

Started a website on Forex and online marketing

Just created a website on Forex and online marketing which took me more than a day to publish that little volume of information. More items to be added along the ways and a forum will be created there for discussion

'Forex Trading Secrets Trading Strategies the Forex Market Book'

Found this book titled 'Forex Trading Secrets Trading Strategies the Forex Market Book' by
James Dicks HB is great.

The book helps readers implement trading strategies and build a successful trading plan.
It also cover other topics include money management, trading psychology, and technical
analysis

You can find this book at bookstores using this reference 0-07166422X

Mobile trading platform (Oanda)

Tried the Oanda mobile platform today. The software is downloadable from the Android market place for free.

The mobile trading system enable user to place orders, view positions, view prices, update/modify existing position, view trading activity
Eventhough the chart is simple, there is no chart tools which can be associated/use with the chart. Hope this fuction can be added during the upcoming release...

Made 10 pips via mobile platform on a Demo account today on EUR/USD pair . Happy trading  ..

Using MACD High Probability Trade Setups for Trend Reversal (Youtube Video)

Please watch this video on 'Using MACD High Probability Trade Setups for Trend Reversa'

USD Consolidation Underway Ahead of Holiday- Outlook Remains Bullish

Source: http://finance.yahoo.com/news/USD-Consolidation-Underway-fxcm-3835942746.html?x=0&l=1

Forex Demo Account (Oanda)

Forex Demo Account

This Broker enable web trading, where you can simple login into the platform using Internet Browser. Registered a demo account account here http://fxtrade.oanda.com/trade-forex/demo/ 

The benefits of the above demo account as follows (which copied from the Oanda Website)

- Your practice account never expires. You get unlimited free access to the account,
   for as many or as few times as you want.

- Trade any time, 24/7. Only OANDA is open for weekend forex trading.

- Reset your 100,000-unit starting balance or your profit/loss at any time, and change
  your leverage to test your comfort level.

                                                           Sample Screen layout via Web

Also found out that mobile trading using the same demo account is possibe on mobile such as I-Phone / Android ... this is awesome !! Yet to try on mobile platform

Dollar Marks another Six-Week High, Conviction Questionable

By John Kicklighter | DailyFX 

Source http://finance.yahoo.com/news/Dollar-Marks-another-Six-Week-fxcm-111324272.html?x=0&l=1

Forex Trading for Beginners What the brokers don't tell you (Youtube Video)

Folks, watch this video carefully.

S&P says no cut planned in US credit rating

S&P says it will not cut US credit rating based on failure of supercommittee to reach deal

Source http://finance.yahoo.com/news/p-says-no-cut-planned-232038389.html

The great Forex Calendar

Found this useful link which packed with full information of news releases for Forex. Added the link under 'Forex Resources' for future references


URL Link taken from ForexFactory -->  http://www.forexfactory.com/calendar.php

Sample screen shot :)

My registration of Forex demo account

Just registered for the 'Demo' access for my Forex trading training. Basically the application is easy for the beginners and started my first trade using Metatrader application. Will keep all posted :)

My FX Journey: What is Forex

My FX Journey: What is Forex: FOREX or in normal language known as 'Foreign Exchange'. Example exchanging currency from one to another (e.g. from US dollar (USD) to Japan...