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(http://www.carigold.com/portal/forums/showthread.php?t=296468)

ExpertTrader 27-12-2011 08:39 PM

Apakah Persoalan Pokok Sudah Terjawab ?

Ini hasil manual (demo) - 2 hari

Nantikan perbincangannya - (terlalu awal utk terjawab persoalan)

==================
thread ni sudah bersambung di Forex Trading Styles > Trade dengan Pemahaman Demand dan
Supply

http://carigold.com/portal/forums/sh...d.php?t=298252
==============================================

ExpertTrader 27-12-2011 08:46 PM

Apa soalan pokok tersebut ?

Mengapa Price itu Naik ?

Mengapa Price itu Turun ?

Saya buka pada perbincangan -

Adakah :

1) Dah break trendline ?

2) Ada News related to the Currency Pairs ?

3) DAH KONO dah itu UPPER BAND BOllinger Band, itu pasal Price tu turun ?

4) MA 25 dah cross MA 50, itu sebab price naik ?

5) Stochastic dah lebih 80 dan process menurun tu sebab price turun ?

= sila bagi 'anda' punya kesimpulan tidak kira newbie atau sudah expert
= harap perbincangan ini membawa berkat

(kalau boleh thread ni saya nak menggunakan Bahasa Malaysia)

SiRentap 27-12-2011 08:58 PM

mantap ni klu leh repat berkali2 ...adakah teknik ni trade hanya pada masa2 liquidity kurang :-? .

asamjawa 27-12-2011 08:59 PM

no comment. kalau baca kat mana-mana price naik dan turun banyak sebab antara demand dan
offer, politik, pelancong, cuti, ekonomi makro dan mikro, penemuan baru, peperangan, cuti dan
perayaan.

Ada banyak lagi.......

zeman 27-12-2011 09:04 PM

amik seat dlu....

ExpertTrader 27-12-2011 09:08 PM


Terima kasih kerana memberi komen, saudara Asamjawa -

Bukan apa.

Ramai Trader kita memang dah konsisten profit dan TAK PERLU tau pun mengapa Price itu naik
atau Price itu turun. Mereka sudah ada 'feel' dan sudah ada solid 'MM' dan sudah ada solid 'system'
dan 'disiplin diri' - saya TIDAK mempersoalkan tentang ini, atau mahu membincangkan tentang ini -

Topik ini di buka untuk di perbincangkan, harap di akhir ada "light' pada yang memerlukan.

Quote:

Originally Posted by asamjawa (Post 11755395)


no comment. kalau baca kat mana-mana price naik dan turun banyak sebab antara demand dan
offer, politik, pelancong, cuti, ekonomi makro dan mikro, penemuan baru, peperangan, cuti dan
perayaan.

Ada banyak lagi.......

azam575 27-12-2011 09:13 PM

Quote:

Originally Posted by ExpertTrader (Post 11755265)


Ini hasil manual (demo) - 2 hari
Nantikan perbincangannya - (terlalu awal utk terjawab persoalan)

tu dia hehehe :D :)paid

azam575 27-12-2011 09:15 PM

Quote:

Originally Posted by ExpertTrader (Post 11755310)


Mengapa Price itu Naik ?

Mengapa Price itu Turun ?

Saya buka pada perbincangan -

Adakah :

1) Dah break trendline ?


2) Ada News related to the Currency Pairs ?

3) DAH KONO dah itu UPPER BAND BOllinger Band, itu pasal Price tu turun ?

4) MA 25 dah cross MA 50, itu sebab price naik ?

5) Stochastic dah lebih 80 dan process menurun tu sebab price turun ?

= sila bagi 'anda' punya kesimpulan tidak kira newbie atau sudah expert
= harap perbincangan ini membawa berkat

(kalau boleh thread ni saya nak menggunakan Bahasa Malaysia)

dan maybe price naik atau turun sbb dah sampai pada tempat HUKUM FIBO .... erm ...

ExpertTrader 27-12-2011 09:17 PM

Trade Forex ni memang ada Tingkatan-Tingkatannya - (esp pada saya)

1) Ingat tak, mula2 kita buka MT4 terminal - ada la MACD campur MA punya line. Chart tu simple je
tengok.

2) Bila dah baca sikit2, tengok banyak2, makin lama makin penuh CHART sampai tak nampak dah
Candle - (saya tetap tidak menyalahkan orang dengan teknik ni - ada orang kata - 'peduli apa - janji
profit ma -' - jika anda dah memang KONSISTENT PROFIT dengan chart yang penuh dengan
indikator segala macam, teruskan - topik ni hanya di kategori 'perbincangan'

3) Kemudian, hmm, paham dah, Indikator adalah hasilnya Price bergerak. Maka, chart tinggal sikit
je Indikator.

4) Maka dah sampai tahap memerhati - 'Price Action'. Ada yang mengatakan 'Price is the King'. Di
tulisan saya terdahulu ada tulis - apsal price naik ? sebab - demand lebih dari supply - macammana
tau - sebab price naik - ni adalah Professional Trader punya jawapan (sambil tersenyum - so benda
ni penuh makna)

Ada lagi ke ?

Adakah 'Price bukan the King' ?

Nak kena faham pulak, siapa PENGGERAK UTAMA Price - Market Movers. Siapa ? Bila diorang
masuk ? Macammana tau - ?

Nak kena faham pulak 'Struktur Market'.

Federal Reserve.

Tier 1 Bank

Tier 2 Bank
dll - sapa mau tambah ?

syahays 27-12-2011 09:23 PM

den tumpang kaki cni...sedut ilmu...

mtyeh36 27-12-2011 10:18 PM

tempah seat dulu....

ExpertTrader 27-12-2011 10:34 PM

Sambil menunggu 'buah fikiran dan pemerhatian' Trader sekalian -

talong 27-12-2011 10:41 PM

patik tumpang ambik ilmu disini....


azam575 28-12-2011 12:02 AM

Quote:

Originally Posted by ExpertTrader (Post 11756020)


Sambil menunggu 'buah fikiran dan pemerhatian' Trader sekalian -

mmg power bro ...

harap bleh ajar kami yg jahil nie

ExpertTrader 28-12-2011 12:45 AM

Bro

thread ni di letakkan di Discussion area, maka saya expect utk 'memantapkan' buah fikiran

sesama kita -

Banyak yang perlu di bincangkan - 'jawapan' kita tidak sama


Quote:

Originally Posted by azam575 (Post 11756696)


mmg power bro ...

harap bleh ajar kami yg jahil nie

ExpertTrader 28-12-2011 12:47 AM

Spread

Apa kaitan spread dengan Pergerakan harga ?


Ada kaitan ke ?

Sapa yang membesarkan spread dan mengecikkan spread ?

Pasal apa ?

Kala mana ?

Stop Orders ? Rasanya Broker suka cari ke tak - (jawapannya SANGAT SUKA)

aPA KAITAN Stop Orders dengan Spread ?

Apa kaitan Stop Order dengan Pergerakan Harga ?

(harap kita berbincang, bukan saya sorang yang menulis, tq)

dapatduit 28-12-2011 12:51 AM

tumpang bljr master..

timizero 28-12-2011 12:56 AM

memang menarik utk dibincangkan....

juga harap TT dapat citer sikit teknik ape yg TT guna...

ExpertTrader 28-12-2011 01:04 AM

hmm.. macam saya cakap ni bukan tempat nak share teknik - sebab nak kata teknik pun tak juga -

ianya lebih kepada 'bersama' kita MENCARI PENYEBAB SEBENAR


MENGAPA price itu Naik

dan juga mengapa price itu Turun

sebab apa dia bergerak, sapa menggerakkan -

(sebenarnya jika kita dah temui jawapannya (which saya belum 100% - tu sebab nak bincang), maka
setiap trade yang kita lakukan adalah sangat confident - tanpa risau)

Quote:

Originally Posted by timizero (Post 11757038)


memang menarik utk dibincangkan....

juga harap TT dapat citer sikit teknik ape yg TT guna...

ExpertTrader 28-12-2011 01:09 AM

Saya cadangkan - buka Order Window, perhatikan spread, perhatikan dengan sedalamnya -

dan bagitau kat sini - ada kaitan tak ?

Quote:

Originally Posted by ExpertTrader (Post 11756980)


Spread

Apa kaitan spread dengan Pergerakan harga ?


Ada kaitan ke ?

Sapa yang membesarkan spread dan mengecikkan spread ?

Pasal apa ?

Kala mana ?

Stop Orders ? Rasanya Broker suka cari ke tak - (jawapannya SANGAT SUKA)

aPA KAITAN Stop Orders dengan Spread ?

Apa kaitan Stop Order dengan Pergerakan Harga ?

(harap kita berbincang, bukan saya sorang yang menulis, tq)


ExpertTrader 28-12-2011 01:10 AM

"di suatu tahap / tingkatan yang lain, chart pun tak tengok dah!"

ExpertTrader 28-12-2011 01:15 AM

5 digit broker -

Quote:

Originally Posted by ExpertTrader (Post 11757123)


Saya cadangkan - buka Order Window, perhatikan spread, perhatikan dengan sedalamnya -

dan bagitau kat sini - ada kaitan tak ?

AuraSuccess_88 28-12-2011 01:19 AM

Quote:

Originally Posted by azam575 (Post 11755519)


dan maybe price naik atau turun sbb dah sampai pada tempat HUKUM FIBO .... erm ...

sudah disetting?atau kebetulan? :)):)) saya serupa jawapan abam azam jerlah:)):))

ExpertTrader 28-12-2011 01:28 AM

Lagi, perhatikan price EU sekarang = 1.30753

Ada 'strength' tak nak naik lagi ?

meijin 28-12-2011 01:34 AM

Quote:

Originally Posted by ExpertTrader (Post 11757134)


"di suatu tahap / tingkatan yang lain, chart pun tak tengok dah!"

otak sy xmampu nk terima statement ini..~X(


bole sape2 tolong terangkan?
bagaimana?kenapa?

meijin 28-12-2011 01:36 AM


Quote:

Originally Posted by ExpertTrader (Post 11757241)


Lagi, perhatikan price EU sekarang = 1.30753

Ada 'strength' tak nak naik lagi ?

xde kot...~X(

taufic 28-12-2011 01:42 AM

price gerak berdasarkan perubahan spread?


5 digit memang byk bergerak
kalau plot spread history bule tengok ada masa naik spike
tapi kebanyakannya agak random?

volume spread analysis?

ExpertTrader 28-12-2011 08:01 AM

Chart adalah manifestasi pergerakan harga.

Rasa dulu2 computer program canggih2 belum ada, macammana Traders trade ?
Quote:

Originally Posted by meijin (Post 11757281)


otak sy xmampu nk terima statement ini..~X(
bole sape2 tolong terangkan?
bagaimana?kenapa?

ExpertTrader 28-12-2011 08:02 AM

benar takde di ketika itu.

Quote:

Originally Posted by meijin (Post 11757292)


xde kot...~X(
ExpertTrader 28-12-2011 08:08 AM

Ada juga orang berjaya dan 'berpatah arang' dengan kepercayaan VSA - pada saya ada sedikit
kebenaran, tetapi bukan pasal tu price bergerak - ia juga adalah 'hasil tindakbalas'

Random.

Ada ramai orang mengatakan, price ni bergerak RANDOM, dan takde sapa tau Mana nak pergi, so
TOKSAH dok carilah. Kalau tau, semua dah kaya.

Di suatu tahap yang lain, anda akan mengatakan Price bergerak tidak RANDOM LANGSUNG!

Siapa yang mengatakan price Random adalah orang yang mengatakan dunia ini terjadi 'dengan
sendirinya' sedangkan penemuan Sains Terkini, membuktikan, dunia ini bukan terjadi dengan
sendiri, malah ada Pencipta dan Pentadbir yang menjadikan sesuatu dengan 'tepat' dan dengan
'ukuran tertentu' dan pada 'masa tertentu'. Tidak Random sama sekali -

Spread adalah 'hasil tindakbalas' Market Makers.

Quote:

Originally Posted by taufic (Post 11757321)


price gerak berdasarkan perubahan spread?
5 digit memang byk bergerak
kalau plot spread history bule tengok ada masa naik spike
tapi kebanyakannya agak random?

volume spread analysis?

ExpertTrader 28-12-2011 08:24 AM

Pada saya penemuan Fibonacci pada segala ciptaan Tuhan adalah sangat bererti di mana setiap
sesuatu penciptaanNya ada ukuran tertentu - amazing.

Tu sebab Fibo ni ada 'special sikit' kedudukannya pada saya.

Namun, Fibo bukan Penyebab Harga Bergerak.

Ianya juga bagi saya 'hasil tindakbalas'

Quote:

Originally Posted by AuraSuccess_88 (Post 11757196)


sudah disetting?atau kebetulan? :)):)) saya serupa jawapan abam azam jerlah:)):))
Rafale 28-12-2011 08:24 AM

trade forex ni ibarat cam cerita Matrix..


kena ada feel baru ada life..
selalunya naked traders yg tolak ea akan
cuba alami feeling ni utk fahami patern
market & jika tepat feelnya itulah kepuasan
trade forex yg sebenar@holly grail pada masa
terdebut..

ringgit_maker 28-12-2011 08:25 AM

pada aku, pergerakan harga yang asli hanya berlaku 1-2 kali dalam sehari dan selebihnya adalah
broker....tapi tu la susah jgk nak dapat yang asli,selalu kena trap/false...aku boleh simpulkan broker
lebih banyak mendominasikan pergerkan harga berbanding trader...

ck3er 28-12-2011 08:37 AM

apa yg menyebabkan perubahan spread ni? nak tahu juga ni. aku ngatkan broker yg sesuka hati
sesedap rasa. tp spread ni ada 2 jenis fix dan x fix. jenis fix dah tentula ikut sedap gusi broker je. yg x
fix tu ikut liquidity market

ed_zero 28-12-2011 12:47 PM

salam...tumpang study..hehe..

ExpertTrader 28-12-2011 02:44 PM

Yang ni saya suka comment -

Semua pergerakan Price adalah asli -

Kena tau sapa Market Participants and Structure - yang besar yang menggerakkan price adakah
Banks, Reserve Banks, Hedge Fund, Individual Trader yang net bertrillion - basically yang trade
berjuta-juta Lots-

Broker atau Forex Trading Firm sediakan servis dan mereka inilah yang di panggil Market Maker
(Bank juga dipanggil Market Maker sebab provide the service) - dapat untung dari Spread -

Apakah Market Maker sama dengan Market Mover ? Tak sama

Kalau kita trade dengan Broker, kita tak deal terus dengan Market, kita melalui orang yang provide
the service kepada kita untuk trade.

Banks dan Reserve Banks or Hedge Funds - merekalah penggerak utama Price - dan mereka Trade
Terus dengan Market
So, merekalah Market Movers -

Tapi, Bank pulak ada Tier 1, Tier 2 - Tier 2 yang deal dengan Dealers/Brokers - ni Struktur Market.
Paling atas Federal Reserve - tu yang kena paham asal usul Wang Fiat ni

Sapa lagi Market Movers - Govt itself, Federal Reserve - bila ada benda yang 'tak kena' dalam radar
diaorang - diorang 'intervene' - price boleh mencanak 400 pips.

=======

Paling penting - nak tau samada kena Trap atau Tidak, baca ni:

Duduk kat Broker punya tempat - Pahamkan Broker suka Stop Orders especially pasal SO provide
Liquidity.

Kalau u dalam position Buy, tengok kat mana u letak itu Stop Loss.

Kat situlah Broker nak pergi - they are Market Makers so, dia akan buat Spike dan pergi kat situ -
padahal at that time takde Market Movers pun!
(ni dalam - harap berkesan)

Quote:

Originally Posted by ringgit_maker (Post 11758220)


pada aku, pergerakan harga yang asli hanya berlaku 1-2 kali dalam sehari dan selebihnya adalah
broker....tapi tu la susah jgk nak dapat yang asli,selalu kena trap/false...aku boleh simpulkan
broker lebih banyak mendominasikan pergerkan harga berbanding trader...

ringgit_maker 28-12-2011 04:08 PM

Quote:

Originally Posted by ExpertTrader (Post 11761390)


Yang ni saya suka comment -

Semua pergerakan Price adalah asli -

Kena tau sapa Market Participants and Structure - yang besar yang menggerakkan price adakah
Banks, Reserve Banks, Hedge Fund, Individual Trader yang net bertrillion - basically yang trade
berjuta-juta Lots-

Broker atau Forex Trading Firm sediakan servis dan mereka inilah yang di panggil Market Maker
(Bank juga dipanggil Market Maker sebab provide the service) - dapat untung dari Spread -
Apakah Market Maker sama dengan Market Mover ? Tak sama

Kalau kita trade dengan Broker, kita tak deal terus dengan Market, kita melalui orang yang
provide the service kepada kita untuk trade.

Banks dan Reserve Banks or Hedge Funds - merekalah penggerak utama Price - dan mereka Trade
Terus dengan Market

So, merekalah Market Movers -

Tapi, Bank pulak ada Tier 1, Tier 2 - Tier 2 yang deal dengan Dealers/Brokers - ni Struktur Market.
Paling atas Federal Reserve - tu yang kena paham asal usul Wang Fiat ni

Sapa lagi Market Movers - Govt itself, Federal Reserve - bila ada benda yang 'tak kena' dalam
radar diaorang - diorang 'intervene' - price boleh mencanak 400 pips.

=======

Paling penting - nak tau samada kena Trap atau Tidak, baca ni:

Duduk kat Broker punya tempat - Pahamkan Broker suka Stop Orders especially pasal SO provide
Liquidity.

Kalau u dalam position Buy, tengok kat mana u letak itu Stop Loss.

Kat situlah Broker nak pergi - they are Market Makers so, dia akan buat Spike dan pergi kat situ -
padahal at that time takde Market Movers pun!
(ni dalam - harap berkesan)

terima kasih tuan tanah sebab sudi memberi ulasan kepada coment saya dan saya sangat bersetuju
dengan ulasan tt dan berterima kasih sebab membuka mata dan memberi saya ilmu berkenaan
pergerakan harga dalam forex...

dengan penerangan tt saya dapat simpulkan pergerakan major sesuatu harga akan di susuli
minor(naik turun dalam range kecik) hanya untuk mengejar stop loss agar trader kalah...dan
keadaan ini saya pernah alaminya sendiri...
------------------------------------
Quote:

Chart adalah manifestasi pergerakan harga.

Rasa dulu2 computer program canggih2 belum ada, macammana Traders trade ?

rasanya la,trader dulu dulu akan membuat predeksi point harga dan disusuli berita....

timizero 28-12-2011 04:26 PM


kalau benar broker mencari stop loss kenapa tak gantikan sahaja stop loss itu dgn order
bertentangan?

misalnya kita buy, instead of letakkan stop loss, kenapa tidak kita letak sell stop sahaja dekat
tempat stop loss tu?

aku terpikir jugak adakah broker akan cari sell stop ni pulak....:-?:-?

meijin 28-12-2011 04:45 PM

Quote:

Originally Posted by ExpertTrader (Post 11758107)


Chart adalah manifestasi pergerakan harga.

Rasa dulu2 computer program canggih2 belum ada, macammana Traders trade ?

betul jugak tu...sekarang sy trade berdasarkan nilai mean,median dan mode..


pastinya traders dulu2 yg membentuk history ini..
tapi bagaimana cara mereka menganalisa price tanpa chart??~X(

meijin 28-12-2011 05:06 PM

Quote:

Originally Posted by timizero (Post 11762235)


kalau benar broker mencari stop loss kenapa tak gantikan sahaja stop loss itu dgn order
bertentangan?

misalnya kita buy, instead of letakkan stop loss, kenapa tidak kita letak sell stop sahaja dekat
tempat stop loss tu?

aku terpikir jugak adakah broker akan cari sell stop ni pulak....:-?:-?

kalo aku buy,aku prefer letak buy limit dekat tempat sepatutnya letak stop loss tu...
spike biasanya cuma kejar stop loss n then price action akan kembali pada trend asal..
betul ke?~X(

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- Forex General Discussion (http://www.carigold.com/portal/forums/forumdisplay.php?f=94)
- - Apakah Persoalan Pokok Sudah Terjawab ?
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Terror 28-12-2011 05:10 PM

volume spread analysis...

spread yg terhasil dari penolakan harga tutup candle - harga buka candle

Hsedaka 28-12-2011 06:04 PM

Secara asas apa yg saya tau..selagi ada permintaan(demand)..selagi itu ada supply(pembekal). Dari
sini timbulnya urusniaga.
Jika dilihat dalam pasaran matawang yg begitu besar, susah utk wujud unsur monopoly/menguasai
oleh organisasi2 atau negara tertentu..jika tidak terpikir 2-3 kali gak nak keluarkan matawang
sendiri. Secara umum yang saya ketahui, perubahan naik matawang adalah dari urusniaga yg
berlaku dari hasil petunjuk/ramalan ekonomi yg sebenar ataupun manipulasi sesebuah negara itu.
Teringin nak tau apa itu IMF dan apakah polisi G7 dan apa peranan WTO...

VSA?
Lebih baik lagi - Jika selama ini indikator dihasilkan hanya dari kiraan price semata2...maka VSA
melengkapkan kita dgn data2 dari volume yg diperdagangkan utk price2 tersebut. Yang penting
datafeed volume yg kita dapat sama dgn interbank walaupun tak mewakili keseluruhan volume yg
ada didalam forex tetapi mewakili bank2 besar yg terlibat.

itu saja idea setakat ni...betul ke tak betul saya xtau...:D

ExpertTrader 28-12-2011 06:12 PM

sambil2 berfikir nak tulis apa -


orgbendang 28-12-2011 06:20 PM

pencetus pergerakan?? hmmm...sbb apa bleh tercetus pergerakan.. earthquake? data release?
pening aar tt...teori sbb dan akibat kaa nie...huhuhu

ExpertTrader 28-12-2011 06:25 PM

IMF memang ada kena mengena dengan Currency dari dulu sejak Bretton Woods Conference - yang
wujudnya Wang Fiat

Fungsi - memastikan KESTABILAN sistem duit internasional - terutama forex supaya antara negara
boleh bertransaksi

Banyaknya kepada polisi, bantuan kewangan, etc.

Impak pada pergerakan price (Market Movers - bagi saya tak banyak)

VSA - macam saya cakap dulu, komen saya - ada sedikit kebenaran mungkin 5% sahaja

Perlu di ingat, Forex market tiada Insitusi Sentral maka total volume transacted memang payah
untuk di dapati tidak seperti Stock Market.

Yang Volume yang di ambil dari MT4 tu adalah TICK VOLUME dan bukan volume transaksi (lot dan
jumlah duitnya)sebenar.

Ianya suatu perbezaan yang besar.

==================

Bab Demand dan Supply <== yang ni memang benar -

Quote:

Originally Posted by Hsedaka (Post 11763110)


Secara asas apa yg saya tau..selagi ada permintaan(demand)..selagi itu ada supply(pembekal).
Dari sini timbulnya urusniaga.
Jika dilihat dalam pasaran matawang yg begitu besar, susah utk wujud unsur
monopoly/menguasai oleh organisasi2 atau negara tertentu..jika tidak terpikir 2-3 kali gak nak
keluarkan matawang sendiri. Secara umum yang saya ketahui, perubahan naik matawang adalah
dari urusniaga yg berlaku dari hasil petunjuk/ramalan ekonomi yg sebenar ataupun manipulasi
sesebuah negara itu.
Teringin nak tau apa itu IMF dan apakah polisi G7 dan apa peranan WTO...

VSA?
Lebih baik lagi - Jika selama ini indikator dihasilkan hanya dari kiraan price semata2...maka VSA
melengkapkan kita dgn data2 dari volume yg diperdagangkan utk price2 tersebut. Yang penting
datafeed volume yg kita dapat sama dgn interbank walaupun tak mewakili keseluruhan volume
yg ada didalam forex tetapi mewakili bank2 besar yg terlibat.

itu saja idea setakat ni...betul ke tak betul saya xtau...:D

taufic 28-12-2011 06:26 PM

tt bule terangkan apa kaitan ss account gain lebih dari 100% tu dgn topik ini?
sejujurnya saya lebih berminat nak tau macam tt buat macam tu

timizero 28-12-2011 06:37 PM

Quote:

Originally Posted by taufic (Post 11763250)


tt bule terangkan apa kaitan ss account gain lebih dari 100% tu dgn topik ini?
sejujurnya saya lebih berminat nak tau macam tt buat macam tu

haha aku dah lama nak tanya soalan yg sama...pasal tu di post aku terdahulu aku dah tanya kat TT
teknik ape dia guna...

kemolok 28-12-2011 06:38 PM


Quote:

Originally Posted by taufic (Post 11763250)


tt bule terangkan apa kaitan ss account gain lebih dari 100% tu dgn topik ini?
sejujurnya saya lebih berminat nak tau macam tt buat macam tu

nama pun expert trader...:)cgrock

ramai yang nak tahu tu..:D

ExpertTrader 28-12-2011 06:49 PM

kaitannya adalah -

1) Penarik minat orang masuk thread ni dan BERBINCANG menambah ilmu membuat bekal dunia
akhirat

2) Nak tengok betul2 APAKAH Saya dah Jumpa persoalan pokok tersebut, sambil tengok2 Trader2
lain yang sudah 'tengok' dan dah 'nampak' - ada yang tengok tapi tak nampak2 - ada yang belum
tengok dah 'nampak'

3) Saya everytime buka demo selalunya begitulah kiraan rationya masa real nanti - dan di sebabkan
'Jika Dah Jumpa Jawapan', maka MM ini di kira 'actually high-risk' - tapi di padankan dengan
'dengan jika benar sudah berjumpa jawapan' makanya Trade boleh di buka dengan confident
dengan high risk - tu sebab tak sampai 3 hari dah 100% - biasa saya 2-3 bulan baru 100% atau lebih
lama dari itu -

4) Orang kata, sambil 'bershare idea' - sambil 'memikir' sambil 'merenung' sambil 'berbincang' -
adalah untuk 'kepastian diri sendiri' dan juga moga orang lain boleh memberi pandangan dan
mengambil pandangan - utk kebaikan bersama

5) saya belum 100% lagi tentang 'penemuan ini' - tu sebab kena bincang -

Quote:

Originally Posted by taufic (Post 11763250)


tt bule terangkan apa kaitan ss account gain lebih dari 100% tu dgn topik ini?
sejujurnya saya lebih berminat nak tau macam tt buat macam tu

timizero 28-12-2011 06:53 PM

Quote:

Originally Posted by meijin (Post 11762631)


kalo aku buy,aku prefer letak buy limit dekat tempat sepatutnya letak stop loss tu...
spike biasanya cuma kejar stop loss n then price action akan kembali pada trend asal..
betul ke?~X(

yes bro maksud aku camtu la.....adakah bila kita tak set stop loss dan gantikan dgn pending order
dia akan cari pending order pulak....ataupun market mover yg cari stop loss sebenarnya dimana big
player akan menggerakkan market ke tempat selalunya org letak SL....so dalam kes ni broker tak
terlibat la...mungkin ada jugak broker kecik yg selalu spike2 tu mungkin la kot

ExpertTrader 28-12-2011 06:53 PM

Lagi,

Jika sesuatu yang di katakan 'teknik' tidak me refer kepada chart ?

Nak refer kemana lagi ?

Ke pa da 'pikiran' si Trader betul tak ? - itulah yang dibincangkan

Lagi -

saya post setiap trade yang di ambil- moga menjadi pelajaran - meski bukan 100% winner - (kena
ingat tu)

Rio76 28-12-2011 06:57 PM

-delete double posting-

ExpertTrader 28-12-2011 06:58 PM

Kepada Market Makers - semua mereka suka apa sahaja Limit atau Stop Orders

Yang diaorang tak suka Market Orders -

=========
sebab

Brokers adalah Dealers yang ambik trade kita jika takde matchingnya -

contoh kita buy dia kena sell dulu - lepas tu pandai2 dia kowtim kat belakang

masalah bila kita buy orang lain buy banyak pulak buy sehingga yang sell takde pulak

somehow dia kena release menda ni

so mana dia cari ?

Limit or Stop Orders la -


Quote:

Originally Posted by timizero (Post 11763432)


yes bro maksud aku camtu la.....adakah bila kita tak set stop loss dan gantikan dgn pending order
dia akan cari pending order pulak....ataupun market mover yg cari stop loss sebenarnya dimana
big player akan menggerakkan market ke tempat selalunya org letak SL....so dalam kes ni broker
tak terlibat la...mungkin ada jugak broker kecik yg selalu spike2 tu mungkin la kot

Rio76 28-12-2011 06:59 PM

sehingga late 70's, mana2 trader yang menggunakan chart untuk analisis di pasaran saham or etc,
di anggap sebagai orang yang aneh di wall street or etc. Sebab masa tu, most of the profesional
trader, diorang trade tidak menggunakan chart, tetapi lebih kepada fundamental @ market
sentiment. Apa tu market sentiment, susah nak cerita nie, kena bukak thread khas pasal ni.

Ambik contoh Syarikat GM Motor nak order material dari UK dengan nilai beratus juta dollar, so
diorang terpaksa menukarkan USD kepada Pound. So kerja bank A yang berurusan dengan GM
Motor ni, terpaksa mecari harga pound yang paling murah untuk client mereka, dalam satu time
frame yang tertentu, contohnya 1 minggu. So apa yang bank ni buat adalah, mereka akan mencari
sekutu lain samada bank A atau bank B, untuk menurunkan harga Pound ( Buat GU turun ).
Kerjasama mereka ini, dengan cepat akan dapat dihidu oleh market movers lain. SO, dengan
perbuatan mereka ini, dalam waktu seminggu tersebut, price GU akan turun. Ini adalah salah satu
contoh..

So kenapa price bergerak ? Adakah mereka tengok chart ? Mungkin mereka tengok price, tapi not
exactly the chart full with indies..

ExpertTrader 28-12-2011 07:02 PM

Bagus dan 'inline' dengan 'idea' thread ni -

Komen lain, ilmu lain di pinta turunkan dari sekalian Trader yang lain, tq

Quote:

Originally Posted by Rio76 (Post 11763468)


sehingga late 70's, mana2 trader yang menggunakan chart untuk analisis di pasaran saham or
etc, di anggap sebagai orang yang aneh di wall street or etc. Sebab masa tu, most of the
profesional trader, diorang trade tidak menggunakan chart, tetapi lebih kepada fundamental @
market sentiment. Apa tu market sentiment, susah nak cerita nie, kena bukak thread khas pasal
ni.

Ambik contoh Syarikat GM Motor nak order material dari UK dengan nilai beratus juta dollar, so
diorang terpaksa menukarkan USD kepada Pound. So kerja bank A yang berurusan dengan GM
Motor ni, terpaksa mecari harga pound yang paling murah untuk client mereka, dalam satu time
frame yang tertentu, contohnya 1 minggu. So apa yang bank ni buat adalah, mereka akan
mencari sekutu lain samada bank A atau bank B, untuk menurunkan harga Pound ( Buat GU
turun ). Kerjasama mereka ini, dengan cepat akan dapat dihidu oleh market movers lain. SO,
dengan perbuatan mereka ini, dalam waktu seminggu tersebut, price GU akan turun. Ini adalah
salah satu contoh..

So kenapa price bergerak ? Adakah mereka tengok chart ? Mungkin mereka tengok price, tapi not
exactly the chart full with indies..

taufic 28-12-2011 07:22 PM

Quote:

Originally Posted by ExpertTrader (Post 11763401)


kaitannya adalah -

1) Penarik minat orang masuk thread ni dan BERBINCANG menambah ilmu membuat bekal dunia
akhirat

2) Nak tengok betul2 APAKAH Saya dah Jumpa persoalan pokok tersebut, sambil tengok2 Trader2
lain yang sudah 'tengok' dan dah 'nampak' - ada yang tengok tapi tak nampak2 - ada yang belum
tengok dah 'nampak'

3) Saya everytime buka demo selalunya begitulah kiraan rationya masa real nanti - dan di
sebabkan 'Jika Dah Jumpa Jawapan', maka MM ini di kira 'actually high-risk' - tapi di padankan
dengan 'dengan jika benar sudah berjumpa jawapan' makanya Trade boleh di buka dengan
confident dengan high risk - tu sebab tak sampai 3 hari dah 100% - biasa saya 2-3 bulan baru
100% atau lebih lama dari itu -

4) Orang kata, sambil 'bershare idea' - sambil 'memikir' sambil 'merenung' sambil 'berbincang' -
adalah untuk 'kepastian diri sendiri' dan juga moga orang lain boleh memberi pandangan dan
mengambil pandangan - utk kebaikan bersama

5) saya belum 100% lagi tentang 'penemuan ini' - tu sebab kena bincang -

apa penemuan tuan tu?


correlation antara spread & fundamental analysis?

meijin 28-12-2011 07:40 PM

Quote:

Originally Posted by Rio76 (Post 11763468)


sehingga late 70's, mana2 trader yang menggunakan chart untuk analisis di pasaran saham or
etc, di anggap sebagai orang yang aneh di wall street or etc. Sebab masa tu, most of the
profesional trader, diorang trade tidak menggunakan chart, tetapi lebih kepada fundamental @
market sentiment. Apa tu market sentiment, susah nak cerita nie, kena bukak thread khas pasal
ni.

Ambik contoh Syarikat GM Motor nak order material dari UK dengan nilai beratus juta dollar, so
diorang terpaksa menukarkan USD kepada Pound. So kerja bank A yang berurusan dengan GM
Motor ni, terpaksa mecari harga pound yang paling murah untuk client mereka, dalam satu time
frame yang tertentu, contohnya 1 minggu. So apa yang bank ni buat adalah, mereka akan
mencari sekutu lain samada bank A atau bank B, untuk menurunkan harga Pound ( Buat GU
turun ). Kerjasama mereka ini, dengan cepat akan dapat dihidu oleh market movers lain. SO,
dengan perbuatan mereka ini, dalam waktu seminggu tersebut, price GU akan turun. Ini adalah
salah satu contoh..

So kenapa price bergerak ? Adakah mereka tengok chart ? Mungkin mereka tengok price, tapi not
exactly the chart full with indies..

wah...hebatnya pengolahan tuan..


technical analysis memang tidak pernah 100% tepat..
maknanya fundamental adalah movers sebenarnya?
xkisahla..janji popit..:(

zeman 28-12-2011 07:59 PM

ssh jgk bab ni...pening jgk pikir..rata2 trader yg 4 5 tahun..rasenya dh tahu sape market mover ni..tp
menjadi maslahnya..jarang orang tahu akan bila masa market mover nk gerakkan market ke atas
dan kebawah...sebab base pada USD...kebnyakan pair akan tunduk pada USD...macam yen yg slalu
kena intervence...duit yen jadi mahal/kuat sgt..import/export ssh nk berlaku..nk tak nak kena
rendahkan yen..mcm jgk duit swiss..tu yg spike smp 4 5 ratus pips

tapi masih jd maslh...nk buy ke nk sell??..hihi

tp malsh

ExpertTrader 28-12-2011 08:24 PM

Utk 3 hari ni

Tiadanya Market Movers

yang ada Stop Hunters

kenalilah Broker anda

kat mana dia nak 'gerakkan' pricenya untuk mengambil Limit / Stop Orders tersebut - 'gerakkan
halus' ni nampak tandanya pada 'spread' yang mengembang dan menguncup

(masih belum 100% - ada sapa2 nampak 'pemerhatian' yang lebih jitu)
Quote:

Originally Posted by taufic (Post 11763634)


apa penemuan tuan tu?
correlation antara spread & fundamental analysis?

ExpertTrader 28-12-2011 08:26 PM

partly true

sedari awal saya dah katakan 'thread ni' memang 'tak kisah' pada Traders yang dah profit konsisten
-

cuma nak cari jawapan pada persoalan pokok

rasanya so far 50% terjawab jika paham 'Broker's or Market Maker's' movement

Quote:

Originally Posted by meijin (Post 11763758)


wah...hebatnya pengolahan tuan..
technical analysis memang tidak pernah 100% tepat..
maknanya fundamental adalah movers sebenarnya?
xkisahla..janji popit..:(

doul 28-12-2011 08:27 PM

adakah bila spread lebih besar daripada kebiasaan adalah masa sesuai untuk masuk post?

ExpertTrader 28-12-2011 08:38 PM

macammana nak jawab ni sebab soalan boleh jadi lagi banyak dari jawapan -

persoalannya yang saya nak saudara tau ? kenapa spread tu jadi besar ? dari situ - dapat tau arah
pergerakan price ??

Quote:

Originally Posted by doul (Post 11764127)


adakah bila spread lebih besar daripada kebiasaan adalah masa sesuai untuk masuk post?

ExpertTrader 28-12-2011 09:03 PM


Ni fakta May 2011

Top 10 Market Movers (Banks, Institutional Investor, Central Banks, Financial Institution)

1. Deutsche Bank - 15.64% Market Share


2. Barclays Capital - 10.75%
3. UBS AG - 10.59%
4. Citi - 8.88%
5. JPMorgan - 6.43%
6. HSBC - 6.26%
7. Royal Bank of Scotland - 6.20%
8. Credit Suisse - 4.80%
9. Goldman Sachs - 4.13%
10. Morgan Stanley - 3.64%

Jadi, kalau ada news pasal 'top 10' ni - bacalah

Fakta lagi - end 2010 -

sehari berapa juta usd semua mat mat arip ni termasuk kita trade - sehari bukan sebulan tau

= USD 4,000,000,000,000.00

arejeeb 28-12-2011 09:59 PM

Quote:

Originally Posted by ExpertTrader (Post 11755310)


Saya buka pada perbincangan -

Adakah :

3) DAH KONO dah itu UPPER BAND BOllinger Band, itu pasal Price tu turun ?

4) MA 25 dah cross MA 50, itu sebab price naik ?

5) Stochastic dah lebih 80 dan process menurun tu sebab price turun ?

Adakah ?
Test try TT.. Salah jangan marah :D

Terror 28-12-2011 10:05 PM

spread jadi besar sebab liquidity bertambah...

atau spread jadi besar sebab market maker

meijin 28-12-2011 10:10 PM

Quote:

Originally Posted by ExpertTrader (Post 11764122)


partly true

sedari awal saya dah katakan 'thread ni' memang 'tak kisah' pada Traders yang dah profit
konsisten -

cuma nak cari jawapan pada persoalan pokok

rasanya so far 50% terjawab jika paham 'Broker's or Market Maker's' movement

silakan share lagi bro..


banyak ilmu baru aku dapat kt sini..
:)cgrock

kalo blh tolong detailkn lg..


aku memang zero psl teori2 yg ko post.. :(
ExpertTrader 28-12-2011 10:15 PM

Spread kecik semasa

1) Liquidity banyak
2) Volatility kecil

Spread besar semasa

1) Liquidity sikit
2) Volatility besar

ni semua gara2 broker or Market Maker

Quote:

Originally Posted by Terror (Post 11764907)


spread jadi besar sebab liquidity bertambah...

atau spread jadi besar sebab market maker

ExpertTrader 28-12-2011 10:16 PM

kita bincang

pemerhatian saudara pun di perlukan, tq

Quote:

Originally Posted by meijin (Post 11764952)


silakan share lagi bro..
banyak ilmu baru aku dapat kt sini..
:)cgrock

kalo blh tolong detailkn lg..


aku memang zero psl teori2 yg ko post.. :(

Terror 28-12-2011 10:23 PM

liquidity sikit
volatility besar...

market mover masuk...

ExpertTrader 28-12-2011 10:27 PM


ADakah ini 'gerakan' dari Market Maker atau Market Mover ?

ExpertTrader 28-12-2011 10:36 PM

aik takde jawapan ??


zhary 28-12-2011 10:43 PM

Menarik jgk perbincangan kat sini, tapi lebih menarik jika dapat trade dgn profit mcm ss tu..:D

Saya rasa tidak berapa tepat jika dikatakan broker selalu mencari sl trader bilis spt kita. Sebelumnya
saya juga terfikir begitu tetapi saya try buat analysis mengenai high and low pergerakan harga di
beberapa broker dan sy mendapati ia adalah sama, cuma mungkin berbeza beberapa pips shj. Agak
mustahil jika semua broker 'berpakat' utk makan sl trader bilis nih. Kecuali benar jika hanya
terdapat spike pada satu broker shj dan tidak pada broker lain.

Terror 28-12-2011 10:44 PM

market maker

Hsedaka 28-12-2011 10:47 PM

market mover @ interbank

ExpertTrader 28-12-2011 10:52 PM


Movers

ExpertTrader 28-12-2011 10:54 PM

kita tu berapa besar ?

Quote:

Originally Posted by zhary (Post 11765213)


Menarik jgk perbincangan kat sini, tapi lebih menarik jika dapat trade dgn profit mcm ss tu..:D

Saya rasa tidak berapa tepat jika dikatakan broker selalu mencari sl trader bilis spt kita.
Sebelumnya saya juga terfikir begitu tetapi saya try buat analysis mengenai high and low
pergerakan harga di beberapa broker dan sy mendapati ia adalah sama, cuma mungkin berbeza
beberapa pips shj. Agak mustahil jika semua broker 'berpakat' utk makan sl trader bilis nih.
Kecuali benar jika hanya terdapat spike pada satu broker shj dan tidak pada broker lain.

Terror 28-12-2011 10:58 PM


dekat eu h1 ada satu candle besar..

so market mover masuk trade ...

Hsedaka 28-12-2011 11:16 PM

Adakah setiap candle panjang/besar market movers masuk...atau ada tanda2 tertentu yg berkaitan
dgn spread dan volatility?...emm

zhary 28-12-2011 11:16 PM

Quote:

Originally Posted by ExpertTrader (Post 11765285)


kita tu berapa besar ?

Sy maksudkan trader kecilan yg trade 1 cents, 10 cts or 1 dollar per pips or even more.... Mungkin
ramai tetapi ada satu psychological thinking yg mengatakan jika letak sl sure kena makan. Walhal
price mmg hendak bergerak ke opposite direction disebabkan fundamental atau technical
movement.

zeman 28-12-2011 11:17 PM

Quote:

Originally Posted by Terror (Post 11765317)


dekat eu h1 ada satu candle besar..

so market mover masuk trade ...

kalo xde candle cane nk tau? bak kata TT..pro trader yg trade tak pakai chart refer mane?

pening cari jawapn..:((:((

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- - Apakah Persoalan Pokok Sudah Terjawab ?
(http://www.carigold.com/portal/forums/showthread.php?t=296468)

ExpertTrader 28-12-2011 11:22 PM

Nak tidur dah - (dari dulu lagi calculation max drawdown MT4 tak pernah betul)

(ada lagi Market Movers as of now)

Hsedaka 28-12-2011 11:25 PM

Quote:

Originally Posted by zeman (Post 11765436)


kalo xde candle cane nk tau? bak kata TT..pro trader yg trade tak pakai chart refer mane?

pening cari jawapn..:((:((

calling2 atau sms kot..kan dah canggih...:D

timizero 28-12-2011 11:33 PM

kalau guna broker yg fixed spread pulak camne?

terompah 28-12-2011 11:34 PM

salam...aku yg tak pernah trade nih bole join ke?okies sebenarnya technical analysis dan juga
fundamental analysis main peranan utk trend.kalu korang dptkan data dari bloomberg bole tgk
trend tu.analysis utk trend 10 thn dulu dia akan ada correlation,ni salah satu contoh.stop loss tu
bkn sesuka hati je pasal dorang kena alert la kalu ada george soros lg.sebab tu dulu tun m dia peg
price kalu tak lg teruk la duit msia....maaf la kalu xbetul pasal dh lama betul tgglkn ilmu ni skrg dah
buat hr plak...

Hsedaka 28-12-2011 11:41 PM

Quote:

Originally Posted by timizero (Post 11765535)


kalau guna broker yg fixed spread pulak camne?

Kat sini ada sedikit penjelasan. Mungkin ada kaitan dgn pertanyaan. Kena scroll sampai bawah baca
http://www.100forexbrokers.com/dma-direct-market-access

timizero 28-12-2011 11:46 PM

Quote:

Originally Posted by Hsedaka (Post 11765595)


Kat sini ada sedikit penjelasan. Mungkin ada kaitan dgn pertanyaan. Kena scroll sampai bawah
baca
http://www.100forexbrokers.com/dma-direct-market-access

TQ bro...:)cgrock

ExpertTrader 29-12-2011 01:03 AM

tak boleh lelap pulak - lepas ni kena tidur dah -


ExpertTrader 29-12-2011 01:04 AM

wow, yang kedua tu macam dah dekat nampak dah tu

Quote:

Originally Posted by Hsedaka (Post 11765425)


Adakah setiap candle panjang/besar market movers masuk...atau ada tanda2 tertentu yg
berkaitan dgn spread dan volatility?...emm

ExpertTrader 29-12-2011 01:07 AM

- persoalannya TRADERS OUT THERE yang berjuta tu, pikiran diaorang sama tak Nak letak SL kat
mana ? Saya cakap pasal combination of ALL RETAIL TRADERS - ianya jadi besar juga

Quote:

Originally Posted by zhary (Post 11765431)


Sy maksudkan trader kecilan yg trade 1 cents, 10 cts or 1 dollar per pips or even more.... Mungkin
ramai tetapi ada satu psychological thinking yg mengatakan jika letak sl sure kena makan.
Walhal price mmg hendak bergerak ke opposite direction disebabkan fundamental atau technical
movement.

ExpertTrader 29-12-2011 01:07 AM

ada orang berjaya trade dengan news bloomberg je, 10 tahun dah

Quote:

Originally Posted by terompah (Post 11765547)


salam...aku yg tak pernah trade nih bole join ke?okies sebenarnya technical analysis dan juga
fundamental analysis main peranan utk trend.kalu korang dptkan data dari bloomberg bole tgk
trend tu.analysis utk trend 10 thn dulu dia akan ada correlation,ni salah satu contoh.stop loss tu
bkn sesuka hati je pasal dorang kena alert la kalu ada george soros lg.sebab tu dulu tun m dia peg
price kalu tak lg teruk la duit msia....maaf la kalu xbetul pasal dh lama betul tgglkn ilmu ni skrg
dah buat hr plak...

ExpertTrader 29-12-2011 01:09 AM

La, price kan ada ? Chart takde tak semestinya price pun takde

Quote:

Originally Posted by zeman (Post 11765436)


kalo xde candle cane nk tau? bak kata TT..pro trader yg trade tak pakai chart refer mane?

pening cari jawapn..:((:((

kemolok 29-12-2011 01:10 AM

maksudnya ni, bro ET dapat mengesan kehadiran market mover dan enter post bersama-sama
mereka?

taufic 29-12-2011 01:10 AM

Quote:

Originally Posted by ExpertTrader (Post 11764096)


Utk 3 hari ni

Tiadanya Market Movers


yang ada Stop Hunters

kenalilah Broker anda

kat mana dia nak 'gerakkan' pricenya untuk mengambil Limit / Stop Orders tersebut - 'gerakkan
halus' ni nampak tandanya pada 'spread' yang mengembang dan menguncup

(masih belum 100% - ada sapa2 nampak 'pemerhatian' yang lebih jitu)

macam mana tuan trade berpandukan stop hunter ni?


kenapa spread tu jadi besar ? dari situ - dapat tau arah pergerakan price ?

spread besar bila liquidity rendah/volatility besar = market movers masuk?

ExpertTrader 29-12-2011 01:11 AM

dah mendekati nampak - cepat orang kita belajar

Quote:

Originally Posted by Terror (Post 11765063)


liquidity sikit
volatility besar...

market mover masuk...

ExpertTrader 29-12-2011 01:14 AM

Saya dah jawab dari komen yang lain -

Tetapi benda ni kena BUAT homework, perhati betul2 -

m e m e r l u k a n PEMERHATIAN yang teliti

Feel mau ada -

(itu yang kita ada selalunya bila terdesak - gut feeling - natural feeling sebagai manusia)

Quote:

Originally Posted by taufic (Post 11766149)


macam mana tuan trade berpandukan stop hunter ni?
kenapa spread tu jadi besar ? dari situ - dapat tau arah pergerakan price ?

spread besar bila liquidity rendah/volatility besar = market movers masuk?

ExpertTrader 29-12-2011 01:17 AM

baca respon kat Taufic

Quote:

Originally Posted by kemolok (Post 11766146)


maksudnya ni, bro ET dapat mengesan kehadiran market mover dan enter post bersama-sama
mereka?

taufic 29-12-2011 01:41 AM

Quote:

Originally Posted by ExpertTrader (Post 11766170)


Saya dah jawab dari komen yang lain -

Tetapi benda ni kena BUAT homework, perhati betul2 -


m e m e r l u k a n PEMERHATIAN yang teliti

Feel mau ada -

(itu yang kita ada selalunya bila terdesak - gut feeling - natural feeling sebagai manusia)

bila spread besar stanby market movers nak gerak market?


sebab price tgh ranging/low volatility

fzlik 29-12-2011 01:45 AM

Quote:

Originally Posted by taufic (Post 11766309)


bila spread besar stanby market movers nak gerak market?
sebab price tgh ranging/low volatility

soalannya ialah buy atau sell?

kemolok 29-12-2011 01:49 AM

itulah persoalannya yang perlu dijawab,,,sell atau buy....

fzlik 29-12-2011 01:53 AM

Quote:

Originally Posted by kemolok (Post 11766343)


itulah persoalannya yang perlu dijawab,,,sell atau buy....

jawannya ialah letaklah dua2 sekali...

hentai88 29-12-2011 09:58 AM

aslm, imho kalau spread mengembang besar tuh kemungkinan tanda2nya market mover shy away.
selalunya spread besar bila tak lama lagi news yg ada impak besar. bila dia tarik balik bid dia tuh yg
menyebabkan spread kembang besar. tapi mungkin gak akibat teknologi platform broker2 cap
ayam kita. tuh tadak sapa yg tau.

saya penah dengar dan tengok sorg rakan trade. keja dia bila buka platform dia 1st thing dia tengok
bukannya chart tapi chatting window yg ada kat platform dia ngan newsfeed. apa yg dia cari ialah
rumours. selalunya cerita ttg cluster of stop atau option barrier. dia tak trade news ni positif ker
negatif. dia nak tau benda ni jer. jadi singkatnya crita, kawan ni mmg keja dia hunt stop jer. stop
hunting ni suatu strategi trading yg sah sekiranya underlying price mmg mencecah ke harga stop
tuh. yg tak sah bila kita bubuh stop kat satu price dan tgk2 2 3 jam price tak penah pon jejak situ
tapi satu ekor panjang kena kat price kita dan kita rugi. ni kawan saya yg bagitau lah. kalau dia
bohong maka bohong lah saya. nak citer lagi mendalam takut silap plak sbb ni bukan core
competency saya dan takut gak kalau dia tersesat kat forum ni dan terbaca nanti hangat hati plak
kawan tuh :">. tuh jer pendapat saya.

Terror 29-12-2011 05:52 PM

Quote:

Originally Posted by ExpertTrader (Post 11766155)


dah mendekati nampak - cepat orang kita belajar

baru mendekati nampak..

slow-slow nanti mesti nampak punya

ForexGaban_83 29-12-2011 06:50 PM

Quote:

Originally Posted by fzlik (Post 11766359)


jawannya ialah letaklah dua2 sekali...

slalunya yang aku tengok kalau spread ni kembang atau kecut dia macam magnet garis biru dan
merah tu bergerak tarik menarik antara satu dengan yg lain. kalau dia nak turun sell, garis merah
akan turun bawah dulu kembang pastu baru dia tarik garis yg biru tu ikut ke bawah sekali. dan
camtu jugak kalau dia nak naik, garis biru tu gerak dulu keatas baru yg merah ikut. tapi tak tau lah,
ni yang aku perhatikan. aku pun tak paham apa yg korang bincangkan sebenarnya....saja je
menyampuk huhuhu:p:">:">:">

ringgit_maker 29-12-2011 10:41 PM

Quote:

Originally Posted by ExpertTrader (Post 11766139)


La, price kan ada ? Chart takde tak semestinya price pun takde

adakah tuan tanah maksudkan chart hanya la sebagai penyeri tetapi kunci utama adalah
price?...tapi persoalannya bagaimana cara untuk mendapatkan price tersebut?....adakah
memerlukan pengiraan?

ExpertTrader 29-12-2011 11:45 PM

Baru balik - memang tak trade today - dan tak banyak boleh komen today
ExpertTrader 29-12-2011 11:48 PM

Bukan chart sebagai penyeri - chart yang biasa kita pakai ditunjukkan kebanyakkannya dalam
Candlestick -

Chart tu adalah manifestasi harga -

Buka order window - nampaklah price beserta bid, ask dan spreadnya

Itulah yang paling RAW - (some people says even Candlestick chart is an Indicator - which saya
agree)

Kena remove segala 'persepsi' yang mengacau 'feel' kita tentang MOVEMENT price ini -

Quote:

Originally Posted by ringgit_maker (Post 11773497)


adakah tuan tanah maksudkan chart hanya la sebagai penyeri tetapi kunci utama adalah
price?...tapi persoalannya bagaimana cara untuk mendapatkan price tersebut?....adakah
memerlukan pengiraan?

ExpertTrader 30-12-2011 12:03 AM

Bagus

Binalah tahap baru ini di mana -

Kita melihat the 'sign of why' price move macam tu

dengan melihat the RAW price tersebut, offer and bid - kena perhati LAMAAAAA - ianya bukan
sekejap

(much better dari gi cari indicator itu ini, sistem baru itu ini - )

Fahamkan betul-betul apa maksud Liquid kurang dan Liquid besar -

(refer page yang saya tulis sebelum ni)

Quote:

Originally Posted by ForexGaban_83 (Post 11772303)


slalunya yang aku tengok kalau spread ni kembang atau kecut dia macam magnet garis biru dan
merah tu bergerak tarik menarik antara satu dengan yg lain. kalau dia nak turun sell, garis merah
akan turun bawah dulu kembang pastu baru dia tarik garis yg biru tu ikut ke bawah sekali. dan
camtu jugak kalau dia nak naik, garis biru tu gerak dulu keatas baru yg merah ikut. tapi tak tau
lah, ni yang aku perhatikan. aku pun tak paham apa yg korang bincangkan sebenarnya....saja je
menyampuk huhuhu:p:">:">:">
ExpertTrader 30-12-2011 12:07 AM

Pasal 'Liquid'

Market adalah dalam Liquid besar jika Big Orders masuk pun price dia steady - tak banyak berubah

ExpertTrader 30-12-2011 12:08 AM

Ingat, di kala ini spread kecik -

Maknanya Market dalam Balance - supply and demand dalam equilibrium

(Liquid besar)

Quote:

Originally Posted by ExpertTrader (Post 11774195)


Pasal 'Liquid'

Market adalah dalam Liquid besar jika Big Orders masuk pun price dia steady - tak banyak
berubah

ExpertTrader 30-12-2011 12:28 AM

Saiz spread dan price bergantung pada Supply dan Demand

Lebih banyak orang nak membeli, lebih banyak 'bid' akan ada dan price akan naik

Lebih banyak orang nak menjual, lebih banyak 'ask' akan ada dan price akan turun

zeman 30-12-2011 12:35 AM

Quote:

Originally Posted by ExpertTrader (Post 11774203)


Ingat, di kala ini spread kecik -

Maknanya Market dalam Balance - supply and demand dalam equilibrium

(Liquid besar)

kiranya liquid besar ni ibarat barang bnyk la..mcm supply n demand..barang bnyk..demand
bnyk...price x naik...gitulah sebaliknya..
kalo salah hrp maaf...

ExpertTrader 30-12-2011 12:37 AM

Itu secara Normal -

Dari sudut 'realiti' - tambahannya

Saiz Spread bergantung kepada PILIHAN Market Maker untuk kepentingan dia, keuntungan dia,
masa dia besarkan spread -

Quote:

Originally Posted by ExpertTrader (Post 11774311)


Saiz spread dan price bergantung pada Supply dan Demand

Lebih banyak orang nak membeli, lebih banyak 'bid' akan ada dan price akan naik

Lebih banyak orang nak menjual, lebih banyak 'ask' akan ada dan price akan turun

nasigorengkicap 30-12-2011 12:38 AM

sedang memahamkan.....

ExpertTrader 30-12-2011 12:39 AM

Liquid besar

Bila supply dan demand lebih kurang sama banyak - balance -

Quote:

Originally Posted by zeman (Post 11774352)


kiranya liquid besar ni ibarat barang bnyk la..mcm supply n demand..barang bnyk..demand
bnyk...price x naik...gitulah sebaliknya..

kalo salah hrp maaf...

ExpertTrader 30-12-2011 12:44 AM

Tapi bila kita dengan Broker -

Bid itu adalah Broker Bid price tu dari kita - maknanya Bid price itu adalah price yang Broker
sanggup beli bila kita nak jual - tu sebab Bid price adalah harga jual kita -
Ask itu adalah Broker 'asking' price dari kita bila kita nak beli - tu sebab Ask price adalah harga beli
kita -

Quote:

Originally Posted by ExpertTrader (Post 11774311)


Saiz spread dan price bergantung pada Supply dan Demand

Lebih banyak orang nak membeli, lebih banyak 'bid' akan ada dan price akan naik

Lebih banyak orang nak menjual, lebih banyak 'ask' akan ada dan price akan turun

ExpertTrader 30-12-2011 12:53 AM

Dalam banyak2 istilah Liquidity Provider - ini adalah istilah yang kena di fahami tentang beza Order
kita

Order yang Demand Liquidity ? Market Orders

Order yang Supply Liquidity ? Limit Orders

Itu sebab Brokers / Market Makers suka Limit Orders /Stop Orders

hentai88 30-12-2011 09:16 AM

Quote:

Originally Posted by zeman (Post 11774352)


kiranya liquid besar ni ibarat barang bnyk la..mcm supply n demand..barang bnyk..demand
bnyk...price x naik...gitulah sebaliknya..

kalo salah hrp maaf...

sama seperti yg saya faham, harap2 betul lah. utk price gerak ke next level, semua kesanggupan
menjual/membeli yang ada kena dihabiskan atau diconsume dulu.sekiranya pasaran is liquid,
permintaan yg byk boleh dioff-set dengan penawaran yg ada. participants yg ramai boleh menjamin
kos transaksi yg murah atau spread yg rendah.

tq expert trader. mmg thread mcm nie yg jarang2 saya jumpa. its the best thread. boleh menambah
pengetahuan kita dgn menghilangkan persepsi negatif org2 kita.:)cgrock

real edge comes from real knowledge ni kata2 sorang yg paling saya respek yg saya anggap sbg
guru saya wlu pon dia tak kasik saya panggil dia cikgu:((
osazizi 30-12-2011 10:40 AM

macamana pulak explanation Demand & Supply macam dalam kotak biru kat atas ni? chart 4H dari
2 broker yg berbeza aku amik smlm. Sebelah tu sah2 Morubozu pattern yg tunjuk bearish yang
mana Open=High + Close=Low price. Satu lagi pulak hammer (agak aku la, kalu salah sila betulkan
ye):)):))

Persoalannya aku kat sini, adakah Demand & Supply dan jugak price setiap broker tu menunjukkan
Demand & Supply datang dari client dia shj atau dari forex market?:-?:-?

Dari segi Bid dgn Ask price (spread) kedua2 broker ni mmg x mengembang atau menguncup
langsung. Aku tengok pada 2 garis yg dekat2 tu. Cuma bezanya price je tak sama. Beza dlm 4 pips
jugak. Untung broker dari segi spread tu 1 hal, adakah perbezaan Bid ngan Ask price setiap broker
macam kat atas ni pun boleh menguntungkan broker? macamana tu?

Pening dah aku..adesss.. ~X(~X(~X(

Hsedaka 30-12-2011 06:22 PM

Try google2 jumpa artikel ni.


http://www.forexstrategysecrets.com/...er-spreads.htm

Masih dalam proses nak faham perkataan-perkataan yang ada perkaitan antara high/low liquidity,
high/low volatility & variable/fixed spread.
Kita usaha cari dulu apa yg patut...sambil2 tt terangkan sikit2...baru leh faham..xgitu tt...:D

ringgit_maker 30-12-2011 07:06 PM

Quote:
Originally Posted by Hsedaka (Post 11779044)
Try google2 jumpa artikel ni.
http://www.forexstrategysecrets.com/...er-spreads.htm

Masih dalam proses nak faham perkataan-perkataan yang ada perkaitan antara high/low
liquidity, high/low volatility & variable/fixed spread.
Kita usaha cari dulu apa yg patut...sambil2 tt terangkan sikit2...baru leh faham..xgitu tt...:D

setakat ini yang saya paham,

high liquidity/market mover masuk = low volatile / spread kecik

low liquidity/market maker masuk = high volatile / spread besar

tp masih belum konfom sebab perlu di eksperimenkan dulu pemahaman di atas sebelum di bawah
ke level seterusnya...

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CariGold Forum (http://www.carigold.com/portal/forums/index.php)


- Forex General Discussion (http://www.carigold.com/portal/forums/forumdisplay.php?f=94)
- - Apakah Persoalan Pokok Sudah Terjawab ?
(http://www.carigold.com/portal/forums/showthread.php?t=296468)

zeman 30-12-2011 07:13 PM

Quote:

Originally Posted by ringgit_maker (Post 11779390)


setakat ini yang saya paham,

high liquidity/market mover masuk = low volatile / spread kecik

low liquidity/market maker masuk = high volatile / spread besar

tp masih belum konfom sebab perlu di eksperimenkan dulu pemahaman di atas sebelum di
bawah ke level seterusnya...

ni nk buy ke nk sell?:D

ringgit_maker 30-12-2011 07:17 PM

Quote:

Originally Posted by zeman (Post 11779431)


ni nk buy ke nk sell?:D

satu lagi hipothesis bakal di masukkan dalam ekspiremen :D...

ps - setakat ni, saya akan buy di support dan sell di ressistance...teori supply dan demand di
gunapakai

osazizi 30-12-2011 07:19 PM

Quote:

Originally Posted by ringgit_maker (Post 11779390)


setakat ini yang saya paham,

high liquidity/market mover masuk = low volatile / spread kecik


low liquidity/market maker masuk = high volatile / spread besar

tp masih belum konfom sebab perlu di eksperimenkan dulu pemahaman di atas sebelum di
bawah ke level seterusnya...

Betul tu RM..aku setuju. Tapi kalu tengok pada candle yg aku highlight dlm kotak biru dlm
screenshot aku kat atas tu. Body dia panjang, so mmg high volatility. Tapi spread kecik atau x
berubah mcm dalam keadaan laut tenang (market normal).

Aku dah pening dia masuk kategori mana dah. ~X(~X(

Pendapat TT diperlukan..

zeman 30-12-2011 07:21 PM

Quote:

Originally Posted by osazizi (Post 11779483)


Betul tu RM..aku setuju. Tapi kalu tengok pada candle yg aku highlight dlm kotak biru dlm
screenshot aku kat atas tu. Body dia panjang, so mmg high volatility. Tapi spread kecik atau x
berubah mcm dalam keadaan laut tenang (market normal).

Aku dah pening dia masuk kategori mana dah. ~X(~X(

Pendapat TT diperlukan..

TT (ET) gtau..kena tenung price lame2...bukan tenung chart...~X(

osazizi 30-12-2011 07:24 PM

Quote:

Originally Posted by zeman (Post 11779505)


TT (ET) gtau..kena tenung price lame2...bukan tenung chart...~X(

Belum sampai tahap tenung nombor lagi tuan. Dah macam tikam nombor dah bunyinya..:)):))

ringgit_maker 30-12-2011 07:46 PM

Quote:

Originally Posted by osazizi (Post 11779483)


Betul tu RM..aku setuju. Tapi kalu tengok pada candle yg aku highlight dlm kotak biru dlm
screenshot aku kat atas tu. Body dia panjang, so mmg high volatility. Tapi spread kecik atau x
berubah mcm dalam keadaan laut tenang (market normal).
Aku dah pening dia masuk kategori mana dah. ~X(~X(

Pendapat TT diperlukan..

macam mana tuan tau yg spread dia kecik?susah jg nk tau market volatile/liquid di sebabkan broker
cap ayam...kena carik yang betul2 regulated lepas ni...

Terror 30-12-2011 08:04 PM

bila spread kecik,

liquidity kurang,
volatility bertambah..

maknanya ada supply dan demand di situ

kat broker exness ada market depth,dekat situ kita boleh tgk list bid dan ask....

bila bid banyak kita sell atau bila ask banyak kita buy...

betul ke hamba mengarut nie,perlukan pencerahan

osazizi 30-12-2011 08:11 PM

Quote:

Originally Posted by ringgit_maker (Post 11779701)


macam mana tuan tau yg spread dia kecik?susah jg nk tau market volatile/liquid di sebabkan
broker cap ayam...kena carik yang betul2 regulated lepas ni...

Dekat screenshot tu ada double line kuning ngan oren yg tunjukkan Bid and Ask price. Jarak
kedua2 line ni cuma 2 pip je. Tak mengembang dan tak menguncup. So saya rasa spread ni kecik
la agaknya kot. hehe..sori la kalu salah sbb nubie je ni...:):)
Terror 30-12-2011 08:14 PM

kena guna broker 5 digit sbb 5 digit lagi peka dgn price

timizero 30-12-2011 08:14 PM

Quote:

Originally Posted by osazizi (Post 11779931)


Dekat screenshot tu ada double line kuning ngan oren yg tunjukkan Bid and Ask price. Jarak
kedua2 line ni cuma 2 pip je. Tak mengembang dan tak menguncup. So saya rasa spread ni
kecik la agaknya kot. hehe..sori la kalu salah sbb nubie je ni...:):)
adakah ni fixed spread pasal 4 digit?

osazizi 30-12-2011 08:15 PM

Quote:

Originally Posted by Terror (Post 11779854)


bila spread besar,

liquidity kurang,
volatility bertambah..

maknanya ada supply dan demand di situ

kat broker exness ada market depth,dekat situ kita boleh tgk list bid dan ask....

bila bid banyak kita sell atau bila ask banyak kita buy...

betul ke hamba mengarut nie,perlukan pencerahan

market depth tu sama dengan market watch ke tuan?


soalan nubie je nih..minta maaf sbb sy xtau..

osazizi 30-12-2011 08:17 PM

Quote:

Originally Posted by Terror (Post 11779957)


kena guna broker 5 digit sbb 5 digit lagi peka dgn price

oh..yeke? hmmm...patut la sy x peka jadinya..haha..xpe tutup kes pasal ni..tunggu update


ilmu/persoalan2 baru dari TT (ET)lak..:):)

Terror 30-12-2011 08:20 PM

Quote:

Originally Posted by osazizi (Post 11779972)


market depth tu sama dengan market watch ke tuan?
soalan nubie je nih..minta maaf sbb sy xtau..

x sama tuan..

market depth nie plugin yg ada dekat broker exness je..


dia tunjuk satu currency senarai list bid dan ask..
cth kat eurusd..

osazizi 30-12-2011 08:20 PM

Quote:

Originally Posted by timizero (Post 11779965)


adakah ni fixed spread pasal 4 digit?

Sy pun xtau pasal apa tuan. TT cuma minta pikir/bincang pasal persoalan2 pokok. So sy tumpang
tanya la persoalan pokok sy jugak. Pokok ni boleh jd pokok semalu dan boleh gak jadi pokok
mawar berduri tuk trader agak2nya la. haha..

abu85 30-12-2011 08:21 PM

Quote:

Originally Posted by osazizi (Post 11779931)


Dekat screenshot tu ada double line kuning ngan oren yg tunjukkan Bid and Ask price. Jarak
kedua2 line ni cuma 2 pip je. Tak mengembang dan tak menguncup. So saya rasa spread ni
kecik la agaknya kot. hehe..sori la kalu salah sbb nubie je ni...:):)

klw aku salah sorry yer,,, aku rasa ni.. adalah sbb masa price ni..broker buka

jauh besar bezanya ruper candle tu

osazizi 30-12-2011 08:23 PM

Quote:

Originally Posted by Terror (Post 11780022)


x sama tuan..

market depth nie plugin yg ada dekat broker exness je..


dia tunjuk satu currency senarai list bid dan ask..
cth kat eurusd..

bid ask
1.34569 1.35679
1.42007
1.40967
1.39998
1.38790

nie gambaran kasar market depth..

harap tuan faham...

ooo..paham tu tak la sgt..tapi ada la gambaran dlm kepala ni sikit lps tanya pakcik google
tadi..hehe..
perkataan baru/ilmu baru bg sy nih..time kasih tuan..:)

osazizi 30-12-2011 08:26 PM

Quote:

Originally Posted by abu85 (Post 11780032)


klw aku salah sorry yer,,, aku rasa ni.. adalah sbb masa price ni..broker buka

jauh besar bezanya ruper candle tu

hehe..itu la persoalan pokok aku sbnrnya..bg trader yg guna candlestick pattern, dua2 bentuk tu
bg maksud berbeza. Tapi TT suruh tenung price je sebenarnya. Masalah aku tak nampak pape kt
price tuh. ~X(~X(

abu85 30-12-2011 08:29 PM

Quote:

Originally Posted by osazizi (Post 11780082)


hehe..itu la persoalan pokok aku sbnrnya..bg trader yg guna candlestick pattern, dua2 bentuk
tu bg maksud berbeza. Tapi TT suruh tenung price je sebenarnya. Masalah aku tak nampak
pape kt price tuh. ~X(~X(

mmg tak jadi masalh tp... klw candle tu indicate pattern bullish..

ataupun guna kaedah additive...

ringgit_maker 30-12-2011 08:48 PM

Quote:

Originally Posted by timizero (Post 11779965)


adakah ni fixed spread pasal 4 digit?
pn nak tanya soalan yg sama sebab kalau spread fixed dekat 4 digit susah nak kenal pasti spread
kembang atau tak...

osazizi 30-12-2011 08:57 PM

ooo..mcm tu ka tuan RM? masa dulu2 dlm 6 tahun lps pernah join kompeni sekam. Gi training je,
pastu belah. Masa tu smpt tgok sorg member ni trade guna platform broker tuh. Spread dia mmg
kaw2 mengembang masa market kene taufan. Time tu aku tak tau la spread 5 digit dah ada ke
blum. Susah jugak nak paham isi2 tersirat dari TT nih..aku sambung tenung lagi la price2 nih..

zeman 30-12-2011 09:19 PM

pening dah dok tilik price ni...x kembang x kuncup spread 4 dc brokar ni..hahah

Terror 30-12-2011 09:32 PM

Quote:

Originally Posted by zeman (Post 11780461)


pening dah dok tilik price ni...x kembang x kuncup spread 4 dc brokar ni..hahah

sebab broker 4 digit x peka dekat harga sbb tu fixed je spread..

broker 5 digit peka pada harga,spread kembang kucup..

kena daftar dgn exness la mcm nie..

zhary 30-12-2011 10:23 PM

Betul tuh.. Sy rasa kita semua tak peka/faham soalan TT sebab ramai kt sini yg pakai broker 4digit
dan guna fixed spread. So.. utk lebih faham kena la try pakai broker regulated, 5 digit dan variable
spread. Baru boleh dapat jawapannya..

ExpertTrader 30-12-2011 11:16 PM

Sangat bagus perbincangan di sini - Tahniah semua


(nak baca satu-satu jap)

ExpertTrader 30-12-2011 11:17 PM

Benar, dan selak page belakang saya dah kata 5 digit.

Quote:

Originally Posted by zhary (Post 11780921)


Betul tuh.. Sy rasa kita semua tak peka/faham soalan TT sebab ramai kt sini yg pakai broker 4digit
dan guna fixed spread. So.. utk lebih faham kena la try pakai broker regulated, 5 digit dan variable
spread. Baru boleh dapat jawapannya..

Terror 30-12-2011 11:19 PM

spread nie perbezaan ask and bid..

bila spread wider- perbezaan ask dan bid tu terlalu tinggi

bila spread narrow-perbezaan ask and bid tu rendah..

membawa maksud apa kepada pergerakkan harga,liquidity dan volatility

ExpertTrader 30-12-2011 11:19 PM

sangat benar

Quote:

Originally Posted by hentai88 (Post 11775021)


sama seperti yg saya faham, harap2 betul lah. utk price gerak ke next level, semua kesanggupan
menjual/membeli yang ada kena dihabiskan atau diconsume dulu.sekiranya pasaran is liquid,
permintaan yg byk boleh dioff-set dengan penawaran yg ada. participants yg ramai boleh
menjamin kos transaksi yg murah atau spread yg rendah.

real edge comes from real knowledge ((

ExpertTrader 30-12-2011 11:25 PM

Tentang Morubozu saya tak nak comment - itu kepandaian saudara.

Tentang Demand n Supply Broker dari Client nya sahaja atau dari Market -

Broker atau Market Maker deal dengan Market - kita tidak, kecuali True ECN.

Demand n Supply adalah datang dari semua Market Participants, cuma bila kita trade dengan
Broker, diaorang yang 'filter'kan untuk keuntungan dia -

Tu sebab baru 2 broker berlainan dah nampak chart pattern berlainan - sebab PILIHAN broker
untuk either 'kembangkan spread' masa liquidity takde atau 'buat spike price' untuk mencari STOP
atau LIMIT Orders - mencari Liquidity providers

Jangan buat keputusan utk pening - sama2 kita bincang


Quote:

Originally Posted by osazizi (Post 11775743)

macamana pulak explanation Demand & Supply macam dalam kotak biru kat atas ni? chart 4H
dari 2 broker yg berbeza aku amik smlm. Sebelah tu sah2 Morubozu pattern yg tunjuk bearish
yang mana Open=High + Close=Low price. Satu lagi pulak hammer (agak aku la, kalu salah sila
betulkan ye):)):))

Persoalannya aku kat sini, adakah Demand & Supply dan jugak price setiap broker tu
menunjukkan Demand & Supply datang dari client dia shj atau dari forex market?:-?:-?

Dari segi Bid dgn Ask price (spread) kedua2 broker ni mmg x mengembang atau menguncup
langsung. Aku tengok pada 2 garis yg dekat2 tu. Cuma bezanya price je tak sama. Beza dlm 4
pips jugak. Untung broker dari segi spread tu 1 hal, adakah perbezaan Bid ngan Ask price
setiap broker macam kat atas ni pun boleh menguntungkan broker? macamana tu?

Pening dah aku..adesss.. ~X(~X(~X(

abu85 30-12-2011 11:46 PM

Quote:

Originally Posted by Terror (Post 11781344)


spread nie perbezaan ask and bid..

bila spread wider- perbezaan ask dan bid tu terlalu tinggi


bila spread narrow-perbezaan ask and bid tu rendah..

membawa maksud apa kepada pergerakkan harga,liquidity dan volatility

ianya berlaku pada floating spread account sahaja..

ExpertTrader 30-12-2011 11:48 PM

Ini ulasan saya :

Dalam keadaan High Liquidity di mana Spread adalah kecil, Demand dan juga Supply adalah dalam
keadaan Balance. Di sini, Market Maker tidak 'memainkan' peranannya sebab Liquidity dah ada.

Time Low Liquidity di mana Spread di besarkan untuk 'mengejar' itu Liquidity maka masa inilah
Volatile - Market Maker mencari mangsa - masa inilah kita boleh tengok sekejap Spike ke atas,
sekejap Spike ke bawah - masa ni kita kena Trade macam kita ni Broker/Market Maker -

Di masa Time Low Liquidity nilah Ramai Trader 'tertipu' dengan 'gerakan- gerakan' --- oiih nak turun
ni - masuukkk sell - exactly lepas masuk , lepas tu, taruk Stop Loss kat atas beberap pip dari 'last
resistance' - 2-3 saat lepas masuk, 'gerakan' yang kelihatan hebat tadi, Baik PUNYA dia melantun
balik - 'takde' supply dah kat situ - dia gi pulak tempat Stop Loss kat atas -

So, BIASAKAN dengan Trade semasa Low Liquidity ini - masa bila Low Liquidity ? Masa Market
Participants tak ramai -

Yang ni boleh kira - saya dah biasa kan - (yang satu lagi, saya pun tak biasa - nanti cerita)

Tentang statement ni 'high liquidity/market mover masuk = volatility rendah, spread kecik'

Ianya lebih tepat jika digantikan 'Market Participants banyak masuk' dari 'Market Movers' masuk

Market Movers adalah 'saya punya term' sendiri rasanya jika di google pun takde definitionnya di
tulis - ini adalah term yang saya guna UNTUK membezakan ANTARA gerakan dari Market Makers
yang palsu dengan Market Movers yang boleh bergerak sehingga 100, 200, 300, 400 pips atau lebih,
sekali swing - di situlah bermulanya 'trend' pada orang yang mengkaji 'trend' - bila Market Movers
masuk - merekalah menggerakkan Price dari Old Place High Liquidity kepada New Place High
Liquidity -

pergh padat..

Quote:

Originally Posted by ringgit_maker (Post 11779390)


setakat ini yang saya paham,

high liquidity/market mover masuk = low volatile / spread kecik

low liquidity/market maker masuk = high volatile / spread besar


tp masih belum konfom sebab perlu di eksperimenkan dulu pemahaman di atas sebelum di
bawah ke level seterusnya...

ExpertTrader 31-12-2011 12:09 AM

Volatility bermaksud perubahan price dalam sesuatu kadar masa yang singkat, dan juga
'ketidakboleh predictnya' price tersebut - itu maksud sebenar volatile -

Maka tidak semestinya Body Panjang itu termasuk dalam definisi saya (ada definisi lain - tapi itu
orang lain) dalam kategori Volatile -

Kesimpulan - Volatile - movement besar, kejap atas kejap bawah, 'unpredictable', dan dalam masa
yang singkat pulak tu -

Quote:

Originally Posted by osazizi (Post 11779483)


Betul tu RM..aku setuju. Tapi kalu tengok pada candle yg aku highlight dlm kotak biru dlm
screenshot aku kat atas tu. Body dia panjang, so mmg high volatility. Tapi spread kecik atau x
berubah mcm dalam keadaan laut tenang (market normal).

Aku dah pening dia masuk kategori mana dah. ~X(~X(

Pendapat TT diperlukan..

ExpertTrader 31-12-2011 12:12 AM

sekali lagi -

Spread kecik = Liquidity Banyak = Volatility kurang = Supply n Demand Balance

Quote:

Originally Posted by Terror (Post 11779854)


bila spread kecik,

liquidity kurang,
volatility bertambah..

maknanya ada supply dan demand di situ

kat broker exness ada market depth,dekat situ kita boleh tgk list bid dan ask....

bila bid banyak kita sell atau bila ask banyak kita buy...
betul ke hamba mengarut nie,perlukan pencerahan

ExpertTrader 31-12-2011 12:15 AM

Ye, kena pakai 5 digit, variable spread

Selalu fixed spread broker - 'dia makan lagi cara lain' -

Quote:

Originally Posted by osazizi (Post 11780000)


oh..yeke? hmmm...patut la sy x peka jadinya..haha..xpe tutup kes pasal ni..tunggu update
ilmu/persoalan2 baru dari TT (ET)lak..:):)

ExpertTrader 31-12-2011 12:29 AM

Sekali lagi - untuk pembaca thread ni mengambil manfaat -

Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila 'rasa'
dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -

sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

Quote:

Originally Posted by ExpertTrader (Post 11781559)


Ini ulasan saya :

Dalam keadaan High Liquidity di mana Spread adalah kecil, Demand dan juga Supply adalah
dalam keadaan Balance. Di sini, Market Maker tidak 'memainkan' peranannya sebab Liquidity
dah ada.

Time Low Liquidity di mana Spread di besarkan untuk 'mengejar' itu Liquidity maka masa inilah
Volatile - Market Maker mencari mangsa - masa inilah kita boleh tengok sekejap Spike ke atas,
sekejap Spike ke bawah - masa ni kita kena Trade macam kita ni Broker/Market Maker -

Di masa Time Low Liquidity nilah Ramai Trader 'tertipu' dengan 'gerakan- gerakan' --- oiih nak
turun ni - masuukkk sell - exactly lepas masuk , lepas tu, taruk Stop Loss kat atas beberap pip dari
'last resistance' - 2-3 saat lepas masuk, 'gerakan' yang kelihatan hebat tadi, Baik PUNYA dia
melantun balik - 'takde' supply dah kat situ - dia gi pulak tempat Stop Loss kat atas -

So, BIASAKAN dengan Trade semasa Low Liquidity ini - masa bila Low Liquidity ? Masa Market
Participants tak ramai -

Yang ni boleh kira - saya dah biasa kan - (yang satu lagi, saya pun tak biasa - nanti cerita)

Tentang statement ni 'high liquidity/market mover masuk = volatility rendah, spread kecik'

Ianya lebih tepat jika digantikan 'Market Participants banyak masuk' dari 'Market Movers' masuk

Market Movers adalah 'saya punya term' sendiri rasanya jika di google pun takde definitionnya di
tulis - ini adalah term yang saya guna UNTUK membezakan ANTARA gerakan dari Market Makers
yang palsu dengan Market Movers yang boleh bergerak sehingga 100, 200, 300, 400 pips atau
lebih, sekali swing - di situlah bermulanya 'trend' pada orang yang mengkaji 'trend' - bila Market
Movers masuk - merekalah menggerakkan Price dari Old Place High Liquidity kepada New Place
High Liquidity -

pergh padat..

MasterZen 31-12-2011 12:40 AM

Cukup informatif diskusi dlm nie... Sayang tak de butang thanx. Anyway, thanx a lot tt atas ilmu yg
dikongsi... moga 2012 nanti kami akan lbh paham kenapa kami buat sesuatu order tu... paham apa
yg berlaku pd masa tersebut... =D>

nasigorengkicap 31-12-2011 12:54 AM

Quote:

Originally Posted by MasterZen (Post 11781955)


Cukup informatif diskusi dlm nie... Sayang tak de butang thanx. Anyway, thanx a lot tt atas ilmu
yg dikongsi... moga 2012 nanti kami akan lbh paham kenapa kami buat sesuatu order tu... paham
apa yg berlaku pd masa tersebut... =D>

tu la.. nk jugak thanks..

anyway, spread besar tu brape besar? sbb tak sempat nk tolak (kira) beza spread tu. just bleh
tengok besar/kecik time tekan option f9 tu je..
ExpertTrader 31-12-2011 12:57 AM

Lagi - "yang ni mahal"

Dalam keadaan Market Senyap = kurang Market Participants

Perhatikan Price - jika drop

Perhatikan Spread - mengembang

Perhatikan Price - naik balik atau stay

Jika Stay, Perhatikan Spread - menguncup balik atau tidak

Jika menguncup balik, Perhatikan Price -

Praktis..Praktis..

Cerita kat sini - apa hasilnya - 'yang ni mahal'

ExpertTrader 31-12-2011 01:07 AM

bila saya kata - 'perhatikan price naik balik atau stay' - buka lah 1 min chart kalau nak sangat tengok
relativenya pergerakan itu

Order Window and the Spread is the key - the Raw 'Beat' of the Market -

Quote:

Originally Posted by ExpertTrader (Post 11782084)


Lagi - "yang ni mahal"

Dalam keadaan Market Senyap = kurang Market Participants

Perhatikan Price - jika drop

Perhatikan Spread - mengembang

Perhatikan Price - naik balik atau stay

Jika Stay, Perhatikan Spread - menguncup balik atau tidak

Jika menguncup balik, Perhatikan Price -

Praktis..Praktis..
Cerita kat sini - apa hasilnya - 'yang ni mahal'

ExpertTrader 31-12-2011 01:12 AM

'Trade with Present Moment'

'Trade dengan MASA SEKARANG'

bukan masa lepas -

'kuasanya masa sekarang' - the power of present moment - true beat of life

'apa kita buat sekarang' - 'menentukan masa depan'

'tengok sehingga nampak, gerakan halus, tepat, terperinci yang memberi kita beberapa 'rasa
gerakan akan datang' beberapa 'beat' sahaja lagi -

ExpertTrader 31-12-2011 01:13 AM

Averagekan, Relativekan -

Quote:

Originally Posted by nasigorengkicap (Post 11782065)


tu la.. nk jugak thanks..

anyway, spread besar tu brape besar? sbb tak sempat nk tolak (kira) beza spread tu. just bleh
tengok besar/kecik time tekan option f9 tu je..

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- Forex General Discussion (http://www.carigold.com/portal/forums/forumdisplay.php?f=94)
- - Apakah Persoalan Pokok Sudah Terjawab ?
(http://www.carigold.com/portal/forums/showthread.php?t=296468)

ExpertTrader 31-12-2011 11:18 AM

dah 2 malam, banyak benda nak tulis, CG tak boleh masuk - (tak teratur dah apa nak tulis)

ExpertTrader 31-12-2011 11:24 AM

'Tiada sapa tau price nak pergi mana'

adalah suatu ayat yang tidak mau 'disimpulkan' di thread ini

yang mahu di simpulkan adalah

'menda ni' yang menyebabkan price naik, 'menda ni' yang menyebabkan price turun - 90% of the
time

'Absolute Knowledge or 100% Exact' will not come from human being

Apa dia 'menda ni' -

1) Demand and Supply - DEMAND banyak dari SUPPLY, price naik, vice versa - ada kaitan dengan
BID dan ASK
2) Low Liquidity / High Liquidity - Price bergerak dari Low Liquidity kepada High Liquidity - ada
kaitan dengan Spread

ringgit_maker 31-12-2011 11:27 AM

terima kasih sebab memberi pemahaman yang lebih jelas tapi kenapa tt(ET) lebih sarankan trade
semasa low liquid sedangkan pergerakan yang besar selalu berlaku semasa london dan us open
dikala spread kecil....

ExpertTrader 31-12-2011 11:32 AM

betul tu -

Part I - pahamkan gerakan Market Maker dulu (nilah 80% dalam sehari gerakan price)

Part II - pahamka gerakan Market Mover - ni belum cerita (kepastian saya pun kat sini belum 100% -
ni perlu idea Traders lain termasuk u jugak)

Quote:

Originally Posted by ringgit_maker (Post 11783083)


terima kasih sebab memberi pemahaman yang lebih jelas tapi kenapa tt(ET) lebih sarankan trade
semasa low liquid sedangkan pergerakan yang besar selalu berlaku semasa london dan us open
dikala spread kecil....

taufic 31-12-2011 01:46 PM

Quote:

Originally Posted by ExpertTrader (Post 11781873)


Sekali lagi - untuk pembaca thread ni mengambil manfaat -

Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila
'rasa' dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -

sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

rasanya semalam saya ada nampak benda ni


tapi sy tgk kat chart biasa
bkn kat order window
so ada ask price saja

yg menariknya
bila spread besaq, ask line naik atas & fixed kat atas sana
actual price/line yg berubah2 tak efek langsung ask line

maknanya ask level tu macam fixed utk masa tu


cuma actual price yg berubah2 kat bawah dia menyebabkan spread berubah2
tapi ask line fixed kat atas sana menyerap segala perubahan actual price dalam spreadnya
eu masa tu highest spread dalam 2.6 pips kot
average utk eu kat exness dalam 0.7-0.9 pips rasanya

mungkin ni yg tuan kata rejection tu


tapi saya teruja skit dgn ask level masa tu saya tak perasan pasal rejection ni
timizero 31-12-2011 04:54 PM

saya pon ada perasan bila berdemo gunakan broker 5 digit...

1. spread besar dan kecik seperti yg diterangkan TT sebelum ni untuk menunjukkan volatility...

2. kadar pertukaran spread dalam tempoh masa tertentu....saya tgk bila kadar pertukaran adalah
pantas, market jadi agak volatile....bila tak volatile biasanya spread stable

3. bila spread berubah dalam satu2 masa ada dua kemungkinan


a. ask fixed hanya bid berubah
b. bid fixed hanya ask berubah
mungkin ni boleh menentukan sell atau buy ??

tak tau lah pemerhatian ni betul atau tak pasal selama ni saya hanya trade dgn fixed spread...cuma
baru minggu ni register demo dgn broker 5digit

langkuik 31-12-2011 05:02 PM

Quote:

Originally Posted by ExpertTrader (Post 11783072)


'Tiada sapa tau price nak pergi mana'

adalah suatu ayat yang tidak mau 'disimpulkan' di thread ini

yang mahu di simpulkan adalah

'menda ni' yang menyebabkan price naik, 'menda ni' yang menyebabkan price turun - 90% of the
time

'Absolute Knowledge or 100% Exact' will not come from human being

Apa dia 'menda ni' -

1) Demand and Supply - DEMAND banyak dari SUPPLY, price naik, vice versa - ada kaitan dengan
BID dan ASK
2) Low Liquidity / High Liquidity - Price bergerak dari Low Liquidity kepada High Liquidity - ada
kaitan dengan Spread

aku pn mmg dok pikir selalu benda ni tt


xtersimpul lagi nk jwb ngan kata2....

p/s: thread yg bagus,kredit pd tt =D>

osazizi 31-12-2011 06:45 PM

Semalam duk sibuk tengok MLM. Osbon lak yang menang, rezeki abon ngan os. Nampaknya kene
register broker yang 5 digit jugak la sbb sy x nmpk lg perubahan spread tu. Takleh ketinggalan nih.
Nnt dah makin jauh dan mendalam takut x terkejar lak ilmu ni. Hehe..thanks to TT...

ExpertTrader 31-12-2011 08:17 PM

Demand = Bid
Supply = Ask

Price
Quantity/Volume

Market sentiasa nak pergi ke Equilibrium, dari Imbalance Demand vs Supply, tu sebab Market Price
mesti nak pergi ke High Liquidity area, di mana di situlah terdapatnya Balance bilangan Demand vs
Supply.

Jika bilangan Ask lebih banyak dari bilangan Bid, price MESTI turun.
Jika bilangan Bid lebih banyak dari bilangan Ask, price MESTI naik.

ExpertTrader 31-12-2011 08:51 PM

Jika Ask menuju ke Bid, Supply mendominasi Market, sebab Supply yg Initiate
Jika Bid menuju ke Ask, Demand mendominasi Market, sebab Demand yg Initiate

(basic principal memang macam ni, yg terjadi Real Time price fluctuation, yg kita tgk pada Order
Window, cuba bayangkan keadaan di atas, pahamkan yg kita deal dgn Market Maker, so lain sikit,
kalau kita deal terus dgn Market/ECN - lebih kurang macam tulah keadaannya)

Quote:

Originally Posted by ExpertTrader (Post 11785886)


Demand = Bid
Supply = Ask

Price
Quantity/Volume

Market sentiasa nak pergi ke Equilibrium, dari Imbalance Demand vs Supply, tu sebab Market
Price mesti nak pergi ke High Liquidity area, di mana di situlah terdapatnya Balance bilangan
Demand vs Supply.

Jika bilangan Ask lebih banyak dari bilangan Bid, price MESTI turun.
Jika bilangan Bid lebih banyak dari bilangan Ask, price MESTI naik.

Afik 31-12-2011 10:45 PM

Quote:
Originally Posted by Terror (Post 11779957)
kena guna broker 5 digit sbb 5 digit lagi peka dgn price

Boleh kasi list x, broker mana yg offer 5 digit

Tq

ringgit_maker 01-01-2012 11:30 AM

Quote:

Originally Posted by Afik (Post 11786790)


Boleh kasi list x, broker mana yg offer 5 digit

Tq

exness
trading point
instaforex
tradefort
liteforex

ExpertTrader 01-01-2012 11:54 AM

Mari faham tentang Bid dan Ask Price ni dengan dalam, tepat dan jitu :

Bila kita pasang contohnya Buy Stop Order or Buy Limit Order, order kita akan menjadi Ask pada
Broker punya buku.

Persoalannya, kita nak Buy tapi kenapa dia jadi Supply? sebab kata Ask = Supply?

Nilah kena faham. Bila kita nak Membeli (demand) pada sesuatu harga yg kita tetapkan, mesti ada
orang yang nak Menjual (supply) pada harga tersebut.

Bila Order kita 'gets filled', adalah di mana adanya Pembeli yang Membuat Buy Order (demand)
pada Ask Price tersebut (yg kita Supply) menjadikan PRICE naik.

Sebaliknya pada Sell dan Bid.


Bila kita buat Sell Stop Orders or Sell Limit Orders, bila order kita 'gets filled', adalah di mana
adanya Penjual yang Membuat Sell Orders (supply) pada Bid Price (yg kita Demand) menjadikan
PRICE turun.

Sabar dalam memahamkan benda ni -

Quote:

Originally Posted by ExpertTrader (Post 11785886)


Demand = Bid
Supply = Ask

Price
Quantity/Volume

Market sentiasa nak pergi ke Equilibrium, dari Imbalance Demand vs Supply, tu sebab Market
Price mesti nak pergi ke High Liquidity area, di mana di situlah terdapatnya Balance bilangan
Demand vs Supply.

Jika bilangan Ask lebih banyak dari bilangan Bid, price MESTI turun.
Jika bilangan Bid lebih banyak dari bilangan Ask, price MESTI naik.

ringgit_maker 01-01-2012 12:21 PM

jadi secara teori pergerakan harga ke bawah atau ke atas hanya kerana mengejer order yang kita
pasang dan sekiranya ada order yang lebih atas atau bawah dari maka harga akan melanggar harga
kita dan memperolehi profit tetapi jika tiada maka harga pun akan reverse dari order kita?...macam
mana kita nak tau berapa order,jenis order dan di mana order di pasang?...

ExpertTrader 01-01-2012 12:42 PM

Bukan.

MENGAPA Market Partiipants masuk Orders adalah sesuatu Topik yg SANGAT besar yg bukan di
cover oleh thread ni.

yg di cover adalah Mengapa Price Naik dan Mengapa price turun, which sebelum ni dah banyak di
explain.

Utk nak mengetahui Orders status, kena ada Tools yg Broker ada. Ada Tools satu hal, memaham
satu hal. Elok paham Demand and Supply benar benar. Ada Tools yg Broker ada pun tak semestinya
boleh Trade Profitably, mungkin lagi pening ada. Yang kita ada so far Bid, Ask, Spread, Volatility.

Quote:

Originally Posted by ringgit_maker (Post 11789883)


jadi secara teori pergerakan harga ke bawah atau ke atas hanya kerana mengejer order yang kita
pasang dan sekiranya ada order yang lebih atas atau bawah dari maka harga akan melanggar
harga kita dan memperolehi profit tetapi jika tiada maka harga pun akan reverse dari order
kita?...macam mana kita nak tau berapa order,jenis order dan di mana order di pasang?...

Afik 01-01-2012 01:05 PM

Quote:
Originally Posted by ringgit_maker (Post 11789510)
exness
trading point
instaforex
tradefort
liteforex

thanks tuan....tai instaforex offer belakang 4 digit jew


trading point 1.35123
instaforex 1.3512....

zeman 01-01-2012 01:21 PM

salam tuan ET, masih x faham ttg mcm mane nk tau bilngan ask n bid..ade kaitan dgn spread
kan..ade kaitan dengan volatility kan...

jika ask lebih dari bid...price turun


jika bid lebih dari ask..price naik...

tapi berapa ramai yg bid dan berapa ramai yg ask? cane nk tau...

ade tgk spread kembang...price naik....ade tgk jgk spread statik..price naik..tpi masih xtau nk bid ke
nk ask..

dah bace dari awal thred..tapi x faham2 (processor otak pentium 3 je sy ni) hihi

harap dpt pencerahan...huhu

zeman 01-01-2012 01:42 PM

Quote:

Originally Posted by Afik (Post 11790211)


thanks tuan....tai instaforex offer belakang 4 digit jew
trading point 1.35123
instaforex 1.3512....

insta kena pakai server europe baru dpt 5dc

ExpertTrader 02-01-2012 04:43 PM

Berita2 mcmni kena baca, 8 Dec 2011

(Baca dulu, nanti saya cuba summarize -)

Big Banks Competing in the Currency Wars


Decimalization, high frequency trading, alternative liquidity pools — one by one, the innovations
that so disrupted the once-clubby world of stock brokerage have been transforming the trading of
foreign exchange. Ever wonder where the infamous stock market day traders of the 1990s have
gone? “We’ve even got those now,” sighs Daniel Torrey, head of North American sales at EBS, the
electronic currency market operated by ICAP Electronic Broking.

But although the foreign exchange market has welcomed vast numbers of new participants and
electronic trading technologies continue to supplant the telephone-based dealing of old, one
feature has endured: the primacy of a relatively small coterie of global banks. Last year the Bank for
International Settlements’ triennial survey of global currency trading found that the top market
makers’ collective share of orders had grown in all but a handful of the world’s trading centers,
continuing a long-term trend. In the U.K., by far the world’s busiest currency-trading hub,
accounting for 37 percent of all transactions, the combined share of the top ten market makers
rose to 77 percent last year from 70 percent in 2007, the BIS says. Over the past decade the
number of banks accounting for 75 percent or more of turnover has fallen roughly by half in the
U.K. (to nine from 17), the U.S. (to seven from 13) and Japan (to eight from 17).

“The big banks are getting bigger,” observes Peter D’Amario, London-based consultant for
Greenwich Associates, which studies foreign exchange market trends based on its annual survey of
corporate and institutional participants. Considering the past decade’s dramatic changes, D’Amario
adds, “the traditional FX dealers have done a very good job of hanging on to old players.” And not
just the old ones. In part to capture the business of new participants, such as hedge funds and even
online sites catering to retail speculators, the top banks have invested heavily in electronic trading
technology and adjusted their own business models over the past decade, adding prime brokerage
and various forms of agency trading to their traditional market-making activities.

The stakes for the banks are large. Foreign exchange trading brings in hundreds of millions of
dollars in annual profits — in a good year more than $1 billion — for perennial market leaders such
as Barclays, Citigroup, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase & Co., Morgan
Stanley, Royal Bank of Scotland Group and UBS. In 2004, the first year in which Barclays broke out
foreign exchange earnings in its annual report, the business generated £213 million ($340 million)
in pretax profits, or about 5 percent of the group’s total that year. From 2004 to 2010 currency
trading contributed a total of £4.3 billion, or 11 percent of the bank’s overall pretax profits during
that period.

Such a lucrative source of earnings is more important than ever now that bank profits are under
pressure from a sluggish economy and regulatory changes. Crucially, currency profits have proved
to be both steady and uncorrelated with results from banks’ other capital markets businesses. Since
2000, RBS has earned almost exactly the same amounts from its foreign exchange dealings (£7.26
billion) as it has from all the rest of its trading activities combined (£7.25 billion). But although the
bank’s currency earnings have bobbed along an upward-sloping curve during that time, the results
from RBS’s other trading operations have ranged from multibillion-pound gains to a £6.29 billion
loss in 2008 (which prompted RBS’s effective nationalization). Similarly, in that credit crisis year of
2008, Barclays’ foreign exchange profits doubled year-on-year, to £1.27 billion; the figure
represented fully 98 percent of the pretax profits of Barclays Capital, the investment banking
subsidiary that houses the currency operation, and nearly a quarter of overall group profits.

The reasons for trading currencies include facilitating commercial trade and cross-border capital
markets activities, and treating foreign exchange as an investable asset class in its own right, notes
James Sinclair, who used to head research and strategy for EBS and now runs MarketFactory, a
forex-trading technology vendor based in New York. “FX is a reliable business that fulfills an
essential customer need,” he says.

As foreign exchange has become more important to the big banks, there has been a profound
change in the way currencies are traded. The biggest innovation is the growth of electronic foreign
exchange trading, or eFX in industry parlance. Economists at the BIS cite electronic trading as a
primary driver of the postcrisis recovery in currency-trading volume, which at an estimated $3.98
trillion daily in 2010 was some 20 percent above 2007 levels. (Another key driver is online trading
by retail speculators; see story, right.)

“We could never do the volumes we’re doing without electronics,” says Jeff Feig, London-based
head of Group of Ten forex operations at Citigroup. Like all the large banks, Citi offers its market-
making services through a variety of electronic channels, ranging from its own custom-built trading
platforms to systems run by third-party operators such as Currenex, EBS, FX Alliance and Reuters
that connect customers with prices provided by multiple banks.

It’s a testament to the market’s robust growth that these multidealer platforms are thriving even as
the banks, their chief rivals, continue to control the bulk of trading volume. (The banks, after all,
supply a good part of the volume on the multidealer systems.) The competition between these two
camps is intense, though. Multibank trading venues have made it easier for the banks’ traditional
customers — corporate treasurers, pension funds, institutional investors and other so-called real-
money accounts — to compare currency prices and shop for the best one without calling a bank’s
dealing desk. The wiring of foreign exchange has also attracted new participants, including high
frequency traders and others who have adapted their machine trading techniques to play in the
world’s largest over-the-counter market.

The result of these developments has been nothing less than a technology arms race among the
banks and the multidealer platforms to provide faster, easier and cheaper trading services. For the
big banks such a race can require spending $100 million or more a year on technology, analysts and
industry executives say.

A decade ago prices of the most actively traded currency pairs were updated every three to five
seconds on the largest eFX trading platforms, EBS and Reuters. Today prices can change in a matter
of microseconds, a measurement that’s meaningful only to high frequency traders and to the banks
themselves. To keep up with the market’s accelerated pace, the banks have found it necessary to
constantly upgrade and refine their own eFX infrastructure, ranging from the superfast pricing
engines they use to supply prices to multidealer platforms and other eFX channels to their own
client-facing systems — known as single-dealer platforms, or SDPs — which compete against those
channels.

This heightened competition has been a boon for investors, corporations and other currency
traders. “The transparency of information is so great now,” muses Greenwich’s D’Amario. “FX is
becoming a poster boy for the democratization of a market.”

Transparency has its limits, however. Like all assets that are traded over the counter, currencies are
exchanged in many different venues, some of them rather opaque. Over the past year authorities in
California, Florida, Massachusetts and New York, as well as the U.S. Attorney’s Office in Manhattan,
filed lawsuits alleging that Bank of New York Mellon Corp. overcharged public pension funds for
foreign exchange trading in their portfolios. Similar suits have been filed against State Street Corp.
Both banks have vowed to fight the suits. BNY Mellon took out a full-page ad in the Wall Street
Journal last month to deny the allegation that its customers were in the dark about how it priced its
currency services.

THE TRANSFORMATION OF THE FOREIGN exchange market from a bank-controlled world where
most transactions were conducted over the phone to today’s electronic free-for-all began about
two decades ago. Seeking to broaden institutional participation in the market and to develop a
substantial fee-generating business in the process, a handful of banks, led by UBS, began offering
prime brokerage services to currency-trading clients like hedge funds and commodities-trading
advisers. By offering credit, one-stop trade netting and other services, the banks enabled such
clients to take larger positions and trade currencies more actively. By 2005 at least 20 banks were
offering such prime brokerage services to as many as 600 institutions, most of them hedge funds,
according to the New York Federal Reserve.

An even more significant development came in 1996, when Deutsche Bank launched its pioneering
electronic single-dealer platform. The service, dubbed Autobahn, gave Deutsche’s customers what
was then a novelty: screen-based access to a top-tier dealing desk, with some of the best pricing in
the market. Its impact was dramatic. In 2000, Deutsche was voted the top bank in foreign exchange
market share in Euromoney magazine’s annual poll, knocking Citi off a perch that it had held for
more than 20 consecutive years. Other big banks soon followed Deutsche’s lead — or found
themselves declining in the market-*share rankings. UBS introduced its SDP, called FX Trader, to
industry acclaim early in the past decade, briefly displacing Deutsche at the top of the league table
in 2003.

While the banks were going electronic, a number of new players entered the scene. Currenex, a
Silicon Valley start-up now owned by State Street, launched an electronic currency-trading service
aimed at corporations and institutional investors in 1999. The following year a consortium of ten
banks launched the electronic platform FXall, and another electronic upstart, Hotspot FX Holdings
(now owned by Knight Capital Group), opened for business. These companies grew rapidly by
targeting nontraditional currency traders, such as the wave of high frequency trading firms, like
Jump Trading and Getco, that burst on to the scene around the turn of the century. Trading
volumes for the three platforms have grown to between $50 billion and $80 billion a day currently.
With business buoyant, FXall has decided that the time is right to go public, filing its initial public
offering registration with the Securities and Exchange Commission in September, a deal that is
expected to raise about $100 million.

Competition intensified further in 2004 when EBS, which had been an interdealer brokerage,
opened its trading system up to nonbanks such as asset managers and hedge funds, a move that
Reuters quickly matched. With their origins in the interdealer market, where large banks traded
exclusively with one another through a brokerage to preserve anonymity, EBS and Reuters offer
exactly what machine traders seek: some of the best liquidity available. The two firms boast
average daily volumes of $125 billion to $140 billion apiece, or about a quarter of the overall eFX
market each. Although the two companies are fierce rivals, they have thrived in part by specializing
in separate instruments: EBS is regarded by professionals as the deepest market for the euro-U.S.
dollar trade, for example, while Reuters boasts the most activity on British pound crosses.

The rise of multiple electronic dealing platforms set the stage for the first major skirmish in the
foreign exchange arms race, over latency arbitrage. Seeking to take advantage of momentary
pricing disparities among various eFX channels, high frequency traders invested in speed-enhancing
techniques like colocation, positioning their computers near those of the electronic platforms to
shorten the physical paths their orders must travel. The electronic platforms were only too happy
to oblige because their revenues are based on commissions and therefore increase with trading
volume regardless of price, unlike the banks, whose dealing profits vary with the amount of spread
they can capture in each trade.

The rise of high frequency trading has not only helped narrow spreads — now $100 or less on a
standard $1 million deal in the most widely traded currency pairs — it has also turned some of
these alpha-seeking traders into de facto market makers. “We always used to think, ‘We’re never
going to beat those guys, with their colocation schemes,’?” Citi’s Feig says. “Until all of a sudden we
realized they are our competition.”

To meet the challenge of the rival platforms and the latency arbitrage they facilitated, the big banks
ramped up their technology spending, even through the financial crisis that began in 2007. Each of
the top dealers today boasts its own “low-latency” infrastructure: a complex, custom-built
collection of superfast pricing engines, trade-matching and other market-making computers, and
related network plumbing that represents some of the most advanced hardware and software in
use on Wall Street. As a result, the banks are able to participate actively on venues like EBS and
Reuters as well as on their own proprietary platforms. “We’re in a world where the banks mingle
with their clients in many venues,” says Ian O’Flaherty, London-based head of eFX at Deutsche.

With this build-out, says analyst Howard Tai, a Kansas City, Missouri–based analyst at Aite Group, a
Boston consulting firm that focuses on Wall Street’s information technology spending, the trading
strategy once preferred by forex high frequency traders has been pretty much turned off. “The
HFTs and others that used to be latency arbs have had to change their stripes,” adopting methods
such as momentum-based trading strategies, says Tai.

The banks’ response to the latency arb threat underscores the way electronics have transformed
the economics of the business. What was once a big-ticket, relatively high-margin activity for the
banks has become one based on low margins and ever-higher volumes. More than ever, the
industry favors the biggest banks at the top of the forex food chain, the so-called flow monsters
that can process the highest volumes of trades at the lowest cost. “Every one of the big banks
wants to be Costco,” observes one regulator, who spoke on condition of anonymity.

Notwithstanding the impact of high frequency traders and other new market participants, business
from traditional corporate customers and institutional investors continues to rise and remains the
foundation of the currency market. That’s another reason the big banks are still so central to the
foreign exchange market. After all, they are the main providers of credit and payment services to
global corporations and real-money accounts. “If you take the end users out of the market, there
would be no HFTs,” says Mike Bagguley, head of forex trading at Barclays Capital in London.

The key for Barclays and other banks is to channel as much of their trading as possible through their
proprietary, client-facing systems. These single-dealer platforms allow banks to match some
customer orders with others to minimize market impact, which is just what customers prefer. “The
banks have looked to internalize their flow more than they have in the past,” says Alan Schwarz,
president and COO of trading systems vendor Trading Cross Connects US and a principal of a fund
that backs proprietary trading outfits specializing in high frequency trading. Some big banks can
meet as much as 80 percent of their customer flow through their internal matching systems,
sources say.

The banks also use their proprietary platforms to differentiate themselves, promoting their
strengths in research or algorithmic trading, for example, or tailoring products to appeal to
particular customer segments. Above all, single-dealer platforms combined with old-fashioned
phone traders allow banks to offer customers so-called dedicated pricing — deals that are better
than those they post to multidealer systems, where they can get picked off by machines.
It’s not surprising, then, that banks are spending heavily to develop their single-dealer platforms.
Aite Group estimates that banks’ spending on such proprietary systems reached an all-time high of
$1.5 billion in 2010, double the amount spent just four years earlier. And there’s every indication
the trend will continue.

Credit Suisse developed a new line of platforms in the middle of the past decade, including
PrimeTrade FX for cash deals and Merlin FX for trading currency options. The investment was part
of a broad strategy of building a “customer-led flow business,” says Martin Wiedmann, head of
forex sales and distribution in Zurich. “It became very obvious we needed to be in e-trading in a big
way,” he says. Today the bank handles the majority of its foreign exchange volume over its
proprietary eFX channels.

Goldman Sachs began to get serious about eFX around 2005, says Rick Schonberg, who heads the
bank’s eFX distribution efforts. The investment bank launched its single-dealer platform, Redi FX, in
2007. Goldman’s New York–based eFX unit has about 20 people, compared with a North American
sales and trading desk of about 130, but it has doubled in the past year alone. “With electronics we
get more business than ever before,” says Schonberg.

Citi, JPMorgan Chase, Morgan Stanley and UBS have also introduced new client trading platforms in
recent years. Smaller players looking to move up the ranks, including BNP Paribas, Nomura
Securities Holdings, Société Générale and Standard Chartered, have launched their own rival
systems. All of these platforms employ the latest web-presentation frameworks, using price tiles to
display the latest bid and ask prices for each currency pair. The systems enable traders to customize
their work spaces and toggle through stored screen configurations with a few mouse clicks.

The more significant innovations in the latest-generation platforms include enhanced trading tools
and the addition of other asset classes, such as currency derivatives. “We can innovate more on an
SDP than we can on other platforms,” explains Holden Sibley, New York–based head of electronic
trading sales at Barclays Capital. In 2005, Barclays used its platform, called BARX FX, to become the
first dealer to extend pricing out to a fifth decimal place for certain actively traded currency pairs.
That innovation has since been adopted by other large dealers and this year by EBS. (Reuters has so
far resisted the move, saying its customers haven’t shown interest in the smaller tick size.) Such
advances help explain why Barclays nearly doubled its global market share between 2005 and 2010,
rising to No. 3 in the Euromoney ranking. BARX FX now claims one of the industry’s biggest
footprints, with more than 2,500 institutional clients.

Barclays can also take credit for being a pioneer in what has become the latest fad in currency
trading: offering customers algorithmic execution services. Algos allow customers to automate the
execution of their orders in a market-savvy way, slicing a trade into smaller orders that can be
dripped into markets to lessen impact, for example.

Citi’s algo offerings stem from the bank’s work on forex market microstructure, says Andrew Coyne,
the bank’s London-based head of forex prime brokerage and G-10 e-commerce. Akin to transaction
cost analysis, algo offerings are “important to real-money investors,” he adds. Credit Suisse,
Deutsche, Goldman Sachs, Morgan Stanley and others have stepped up their offerings.

The efforts are gaining traction. It’s a measure of the market’s competitiveness that many
corporate customers and even less active currency traders are installing multiple bank platforms on
their trading desks. “They’re not choosing one or the other; they’re choosing all,” reports Jim Daley
of SunGard Data Systems, which helps buy-siders link front- and back-end trading systems.
Customers that a couple of years ago had electronic links to one or two bank platforms now have
three to five, he says.

Of course, every bank knows that installing its platform on a customer’s trading desk doesn’t
guarantee it will be used. The busier trading desks, such as those at currency funds and regional
banks, may have monitors or feeds from a dozen different banks and still send most of their trades
to the multidealer systems that sit alongside them. “You only have so much real estate on a trading
desk,” explains Bob Tull, head of the forex and commodities group at Fifth Third Corp., a Cincinnati-
based regional bank. “Besides, no one wants to log in to all those separate systems.”

For banks, that means there’s no single solution. To maintain their dominance, they have to offer
keen pricing on multilateral platforms and constantly refine their in-house systems. That is costly,
but it’s a reality the banks are resigned to. As Goldman’s Schonberg puts it, “We’re in a constant
battle for relevance.”

ExpertTrader 02-01-2012 04:44 PM

Saya suka bagi soalan -

Dekat Trading Platform/Venue mana the Biggest Forex Volume Transaction berlaku ?

ExpertTrader 02-01-2012 04:50 PM

EBS

(siapa nak dispute boleh, dan silakan - mungkin ada fakta lain yg saya tak tau )

Quote:

Originally Posted by ExpertTrader (Post 11799908)


Saya suka bagi soalan -

Dekat Trading Platform/Venue mana the Biggest Forex Volume Transaction berlaku ?

ExpertTrader 02-01-2012 05:08 PM

Nilah 'Trading Venue' terbesar - maknanya orang trade dengan Platform/Trading Tools yang
disediakan diaorang

(lebih kurang ikut turutan - data 2010)

EBS (25% total Forex Transaction berlaku di sini)


Reuters
Bloomberg

Currenex
HotspotFXi
Integral
FXAll
LavaFX
FXConnect

Forex Transaction terpecah pada 3 kategori :

1) Interdealer (Bank dengan Bank)


2) Dealer to Client (Banks dengan Institutional Customers/Customers without Dealers)
3) Retail (Banks with retail Customers)

50% Forex transaction yang berlaku adalah pada Interdealer.


50% lagi Dealer to Client

(data 2007)

Dealer to Client pula terbahagi 2 :


1) Single-Dealer - 60%
2) Multidealer - 40%

==========
Interdealer Trading Venue - EBS, Reuters, Bloomberg (note : Reuters partner dengan CME, EBS
partner with Bloomberg)
Dealer to Client - Currenex, FXAll, HotspotFXi, Integral, FXConnect, LavaFX

(yang saya berikan di atas adalah dari pemahaman saya, kalau tidak 100% tepat, maafkan - )

ExpertTrader 02-01-2012 05:27 PM

'Terror betul' - buka Market Depth, Level II Quotes

- tapi itu tidak menjawab 80% persoalan lagi- kena tengok market dengan perspektif yang lagi
'banyak' -

Quote:

Originally Posted by zeman (Post 11790304)


salam tuan ET, masih x faham ttg mcm mane nk tau bilngan ask n bid..ade kaitan dgn spread
kan..ade kaitan dengan volatility kan...

jika ask lebih dari bid...price turun


jika bid lebih dari ask..price naik...

tapi berapa ramai yg bid dan berapa ramai yg ask? cane nk tau...

ade tgk spread kembang...price naik....ade tgk jgk spread statik..price naik..tpi masih xtau nk bid
ke nk ask..

dah bace dari awal thred..tapi x faham2 (processor otak pentium 3 je sy ni) hihi
harap dpt pencerahan...huhu

ExpertTrader 02-01-2012 05:29 PM

Bila Big Banks SELL kat EBS -

pada Market Makers order itu jadi apa ? BID ke ASK ?

Ingat, satu tugas utama Market Makers adalah untuk sediakan atau provide Liquidity kepada
Customers DAN juga kepada Networks -

osazizi 02-01-2012 05:34 PM

panjangnya news nih TT..otak sy lambat tangkap bab ayat2 nih:((:((..huhuhu...akan ku cuba tuk
membaca nya 1 persatu#:-S#:-S..dan cuba memahami maksud disebalik ayat2 tersebut..

Quote:

Originally Posted by ExpertTrader (Post 11799888)


Berita2 mcmni kena baca, 8 Dec 2011

(Baca dulu, nanti saya cuba summarize -)

Big Banks Competing in the Currency Wars

Decimalization, high frequency trading, alternative liquidity pools — one by one, the innovations
that so disrupted the once-clubby world of stock brokerage have been transforming the trading of
foreign exchange. Ever wonder where the infamous stock market day traders of the 1990s have
gone? “We’ve even got those now,” sighs Daniel Torrey, head of North American sales at EBS, the
electronic currency market operated by ICAP Electronic Broking.

But although the foreign exchange market has welcomed vast numbers of new participants and
electronic trading technologies continue to supplant the telephone-based dealing of old, one
feature has endured: the primacy of a relatively small coterie of global banks. Last year the Bank
for International Settlements’ triennial survey of global currency trading found that the top
market makers’ collective share of orders had grown in all but a handful of the world’s trading
centers, continuing a long-term trend. In the U.K., by far the world’s busiest currency-trading hub,
accounting for 37 percent of all transactions, the combined share of the top ten market makers
rose to 77 percent last year from 70 percent in 2007, the BIS says. Over the past decade the
number of banks accounting for 75 percent or more of turnover has fallen roughly by half in the
U.K. (to nine from 17), the U.S. (to seven from 13) and Japan (to eight from 17).

“The big banks are getting bigger,” observes Peter D’Amario, London-based consultant for
Greenwich Associates, which studies foreign exchange market trends based on its annual survey
of corporate and institutional participants. Considering the past decade’s dramatic changes,
D’Amario adds, “the traditional FX dealers have done a very good job of hanging on to old
players.” And not just the old ones. In part to capture the business of new participants, such as
hedge funds and even online sites catering to retail speculators, the top banks have invested
heavily in electronic trading technology and adjusted their own business models over the past
decade, adding prime brokerage and various forms of agency trading to their traditional market-
making activities.

The stakes for the banks are large. Foreign exchange trading brings in hundreds of millions of
dollars in annual profits — in a good year more than $1 billion — for perennial market leaders
such as Barclays, Citigroup, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase & Co.,
Morgan Stanley, Royal Bank of Scotland Group and UBS. In 2004, the first year in which Barclays
broke out foreign exchange earnings in its annual report, the business generated £213 million
($340 million) in pretax profits, or about 5 percent of the group’s total that year. From 2004 to
2010 currency trading contributed a total of £4.3 billion, or 11 percent of the bank’s overall pretax
profits during that period.

Such a lucrative source of earnings is more important than ever now that bank profits are under
pressure from a sluggish economy and regulatory changes. Crucially, currency profits have proved
to be both steady and uncorrelated with results from banks’ other capital markets businesses.
Since 2000, RBS has earned almost exactly the same amounts from its foreign exchange dealings
(£7.26 billion) as it has from all the rest of its trading activities combined (£7.25 billion). But
although the bank’s currency earnings have bobbed along an upward-sloping curve during that
time, the results from RBS’s other trading operations have ranged from multibillion-pound gains
to a £6.29 billion loss in 2008 (which prompted RBS’s effective nationalization). Similarly, in that
credit crisis year of 2008, Barclays’ foreign exchange profits doubled year-on-year, to £1.27
billion; the figure represented fully 98 percent of the pretax profits of Barclays Capital, the
investment banking subsidiary that houses the currency operation, and nearly a quarter of overall
group profits.

The reasons for trading currencies include facilitating commercial trade and cross-border capital
markets activities, and treating foreign exchange as an investable asset class in its own right,
notes James Sinclair, who used to head research and strategy for EBS and now runs
MarketFactory, a forex-trading technology vendor based in New York. “FX is a reliable business
that fulfills an essential customer need,” he says.

As foreign exchange has become more important to the big banks, there has been a profound
change in the way currencies are traded. The biggest innovation is the growth of electronic
foreign exchange trading, or eFX in industry parlance. Economists at the BIS cite electronic trading
as a primary driver of the postcrisis recovery in currency-trading volume, which at an estimated
$3.98 trillion daily in 2010 was some 20 percent above 2007 levels. (Another key driver is online
trading by retail speculators; see story, right.)

“We could never do the volumes we’re doing without electronics,” says Jeff Feig, London-based
head of Group of Ten forex operations at Citigroup. Like all the large banks, Citi offers its market-
making services through a variety of electronic channels, ranging from its own custom-built
trading platforms to systems run by third-party operators such as Currenex, EBS, FX Alliance and
Reuters that connect customers with prices provided by multiple banks.

It’s a testament to the market’s robust growth that these multidealer platforms are thriving even
as the banks, their chief rivals, continue to control the bulk of trading volume. (The banks, after
all, supply a good part of the volume on the multidealer systems.) The competition between these
two camps is intense, though. Multibank trading venues have made it easier for the banks’
traditional customers — corporate treasurers, pension funds, institutional investors and other so-
called real-money accounts — to compare currency prices and shop for the best one without
calling a bank’s dealing desk. The wiring of foreign exchange has also attracted new participants,
including high frequency traders and others who have adapted their machine trading techniques
to play in the world’s largest over-the-counter market.

The result of these developments has been nothing less than a technology arms race among the
banks and the multidealer platforms to provide faster, easier and cheaper trading services. For
the big banks such a race can require spending $100 million or more a year on technology,
analysts and industry executives say.

A decade ago prices of the most actively traded currency pairs were updated every three to five
seconds on the largest eFX trading platforms, EBS and Reuters. Today prices can change in a
matter of microseconds, a measurement that’s meaningful only to high frequency traders and to
the banks themselves. To keep up with the market’s accelerated pace, the banks have found it
necessary to constantly upgrade and refine their own eFX infrastructure, ranging from the
superfast pricing engines they use to supply prices to multidealer platforms and other eFX
channels to their own client-facing systems — known as single-dealer platforms, or SDPs — which
compete against those channels.

This heightened competition has been a boon for investors, corporations and other currency
traders. “The transparency of information is so great now,” muses Greenwich’s D’Amario. “FX is
becoming a poster boy for the democratization of a market.”

Transparency has its limits, however. Like all assets that are traded over the counter, currencies
are exchanged in many different venues, some of them rather opaque. Over the past year
authorities in California, Florida, Massachusetts and New York, as well as the U.S. Attorney’s
Office in Manhattan, filed lawsuits alleging that Bank of New York Mellon Corp. overcharged
public pension funds for foreign exchange trading in their portfolios. Similar suits have been filed
against State Street Corp. Both banks have vowed to fight the suits. BNY Mellon took out a full-
page ad in the Wall Street Journal last month to deny the allegation that its customers were in the
dark about how it priced its currency services.

THE TRANSFORMATION OF THE FOREIGN exchange market from a bank-controlled world where
most transactions were conducted over the phone to today’s electronic free-for-all began about
two decades ago. Seeking to broaden institutional participation in the market and to develop a
substantial fee-generating business in the process, a handful of banks, led by UBS, began offering
prime brokerage services to currency-trading clients like hedge funds and commodities-trading
advisers. By offering credit, one-stop trade netting and other services, the banks enabled such
clients to take larger positions and trade currencies more actively. By 2005 at least 20 banks were
offering such prime brokerage services to as many as 600 institutions, most of them hedge funds,
according to the New York Federal Reserve.

An even more significant development came in 1996, when Deutsche Bank launched its
pioneering electronic single-dealer platform. The service, dubbed Autobahn, gave Deutsche’s
customers what was then a novelty: screen-based access to a top-tier dealing desk, with some of
the best pricing in the market. Its impact was dramatic. In 2000, Deutsche was voted the top bank
in foreign exchange market share in Euromoney magazine’s annual poll, knocking Citi off a perch
that it had held for more than 20 consecutive years. Other big banks soon followed Deutsche’s
lead — or found themselves declining in the market-*share rankings. UBS introduced its SDP,
called FX Trader, to industry acclaim early in the past decade, briefly displacing Deutsche at the
top of the league table in 2003.
While the banks were going electronic, a number of new players entered the scene. Currenex, a
Silicon Valley start-up now owned by State Street, launched an electronic currency-trading service
aimed at corporations and institutional investors in 1999. The following year a consortium of ten
banks launched the electronic platform FXall, and another electronic upstart, Hotspot FX Holdings
(now owned by Knight Capital Group), opened for business. These companies grew rapidly by
targeting nontraditional currency traders, such as the wave of high frequency trading firms, like
Jump Trading and Getco, that burst on to the scene around the turn of the century. Trading
volumes for the three platforms have grown to between $50 billion and $80 billion a day
currently. With business buoyant, FXall has decided that the time is right to go public, filing its
initial public offering registration with the Securities and Exchange Commission in September, a
deal that is expected to raise about $100 million.

Competition intensified further in 2004 when EBS, which had been an interdealer brokerage,
opened its trading system up to nonbanks such as asset managers and hedge funds, a move that
Reuters quickly matched. With their origins in the interdealer market, where large banks traded
exclusively with one another through a brokerage to preserve anonymity, EBS and Reuters offer
exactly what machine traders seek: some of the best liquidity available. The two firms boast
average daily volumes of $125 billion to $140 billion apiece, or about a quarter of the overall eFX
market each. Although the two companies are fierce rivals, they have thrived in part by
specializing in separate instruments: EBS is regarded by professionals as the deepest market for
the euro-U.S. dollar trade, for example, while Reuters boasts the most activity on British pound
crosses.

The rise of multiple electronic dealing platforms set the stage for the first major skirmish in the
foreign exchange arms race, over latency arbitrage. Seeking to take advantage of momentary
pricing disparities among various eFX channels, high frequency traders invested in speed-
enhancing techniques like colocation, positioning their computers near those of the electronic
platforms to shorten the physical paths their orders must travel. The electronic platforms were
only too happy to oblige because their revenues are based on commissions and therefore increase
with trading volume regardless of price, unlike the banks, whose dealing profits vary with the
amount of spread they can capture in each trade.

The rise of high frequency trading has not only helped narrow spreads — now $100 or less on a
standard $1 million deal in the most widely traded currency pairs — it has also turned some of
these alpha-seeking traders into de facto market makers. “We always used to think, ‘We’re never
going to beat those guys, with their colocation schemes,’?” Citi’s Feig says. “Until all of a sudden
we realized they are our competition.”

To meet the challenge of the rival platforms and the latency arbitrage they facilitated, the big
banks ramped up their technology spending, even through the financial crisis that began in 2007.
Each of the top dealers today boasts its own “low-latency” infrastructure: a complex, custom-built
collection of superfast pricing engines, trade-matching and other market-making computers, and
related network plumbing that represents some of the most advanced hardware and software in
use on Wall Street. As a result, the banks are able to participate actively on venues like EBS and
Reuters as well as on their own proprietary platforms. “We’re in a world where the banks mingle
with their clients in many venues,” says Ian O’Flaherty, London-based head of eFX at Deutsche.

With this build-out, says analyst Howard Tai, a Kansas City, Missouri–based analyst at Aite Group,
a Boston consulting firm that focuses on Wall Street’s information technology spending, the
trading strategy once preferred by forex high frequency traders has been pretty much turned off.
“The HFTs and others that used to be latency arbs have had to change their stripes,” adopting
methods such as momentum-based trading strategies, says Tai.

The banks’ response to the latency arb threat underscores the way electronics have transformed
the economics of the business. What was once a big-ticket, relatively high-margin activity for the
banks has become one based on low margins and ever-higher volumes. More than ever, the
industry favors the biggest banks at the top of the forex food chain, the so-called flow monsters
that can process the highest volumes of trades at the lowest cost. “Every one of the big banks
wants to be Costco,” observes one regulator, who spoke on condition of anonymity.

Notwithstanding the impact of high frequency traders and other new market participants,
business from traditional corporate customers and institutional investors continues to rise and
remains the foundation of the currency market. That’s another reason the big banks are still so
central to the foreign exchange market. After all, they are the main providers of credit and
payment services to global corporations and real-money accounts. “If you take the end users out
of the market, there would be no HFTs,” says Mike Bagguley, head of forex trading at Barclays
Capital in London.

The key for Barclays and other banks is to channel as much of their trading as possible through
their proprietary, client-facing systems. These single-dealer platforms allow banks to match some
customer orders with others to minimize market impact, which is just what customers prefer. “The
banks have looked to internalize their flow more than they have in the past,” says Alan Schwarz,
president and COO of trading systems vendor Trading Cross Connects US and a principal of a fund
that backs proprietary trading outfits specializing in high frequency trading. Some big banks can
meet as much as 80 percent of their customer flow through their internal matching systems,
sources say.

The banks also use their proprietary platforms to differentiate themselves, promoting their
strengths in research or algorithmic trading, for example, or tailoring products to appeal to
particular customer segments. Above all, single-dealer platforms combined with old-fashioned
phone traders allow banks to offer customers so-called dedicated pricing — deals that are better
than those they post to multidealer systems, where they can get picked off by machines.

It’s not surprising, then, that banks are spending heavily to develop their single-dealer platforms.
Aite Group estimates that banks’ spending on such proprietary systems reached an all-time high
of $1.5 billion in 2010, double the amount spent just four years earlier. And there’s every
indication the trend will continue.

Credit Suisse developed a new line of platforms in the middle of the past decade, including
PrimeTrade FX for cash deals and Merlin FX for trading currency options. The investment was part
of a broad strategy of building a “customer-led flow business,” says Martin Wiedmann, head of
forex sales and distribution in Zurich. “It became very obvious we needed to be in e-trading in a
big way,” he says. Today the bank handles the majority of its foreign exchange volume over its
proprietary eFX channels.

Goldman Sachs began to get serious about eFX around 2005, says Rick Schonberg, who heads the
bank’s eFX distribution efforts. The investment bank launched its single-dealer platform, Redi FX,
in 2007. Goldman’s New York–based eFX unit has about 20 people, compared with a North
American sales and trading desk of about 130, but it has doubled in the past year alone. “With
electronics we get more business than ever before,” says Schonberg.
Citi, JPMorgan Chase, Morgan Stanley and UBS have also introduced new client trading platforms
in recent years. Smaller players looking to move up the ranks, including BNP Paribas, Nomura
Securities Holdings, Société Générale and Standard Chartered, have launched their own rival
systems. All of these platforms employ the latest web-presentation frameworks, using price tiles
to display the latest bid and ask prices for each currency pair. The systems enable traders to
customize their work spaces and toggle through stored screen configurations with a few mouse
clicks.

The more significant innovations in the latest-generation platforms include enhanced trading
tools and the addition of other asset classes, such as currency derivatives. “We can innovate more
on an SDP than we can on other platforms,” explains Holden Sibley, New York–based head of
electronic trading sales at Barclays Capital. In 2005, Barclays used its platform, called BARX FX, to
become the first dealer to extend pricing out to a fifth decimal place for certain actively traded
currency pairs. That innovation has since been adopted by other large dealers and this year by
EBS. (Reuters has so far resisted the move, saying its customers haven’t shown interest in the
smaller tick size.) Such advances help explain why Barclays nearly doubled its global market share
between 2005 and 2010, rising to No. 3 in the Euromoney ranking. BARX FX now claims one of the
industry’s biggest footprints, with more than 2,500 institutional clients.

Barclays can also take credit for being a pioneer in what has become the latest fad in currency
trading: offering customers algorithmic execution services. Algos allow customers to automate
the execution of their orders in a market-savvy way, slicing a trade into smaller orders that can be
dripped into markets to lessen impact, for example.

Citi’s algo offerings stem from the bank’s work on forex market microstructure, says Andrew
Coyne, the bank’s London-based head of forex prime brokerage and G-10 e-commerce. Akin to
transaction cost analysis, algo offerings are “important to real-money investors,” he adds. Credit
Suisse, Deutsche, Goldman Sachs, Morgan Stanley and others have stepped up their offerings.

The efforts are gaining traction. It’s a measure of the market’s competitiveness that many
corporate customers and even less active currency traders are installing multiple bank platforms
on their trading desks. “They’re not choosing one or the other; they’re choosing all,” reports Jim
Daley of SunGard Data Systems, which helps buy-siders link front- and back-end trading systems.
Customers that a couple of years ago had electronic links to one or two bank platforms now have
three to five, he says.

Of course, every bank knows that installing its platform on a customer’s trading desk doesn’t
guarantee it will be used. The busier trading desks, such as those at currency funds and regional
banks, may have monitors or feeds from a dozen different banks and still send most of their
trades to the multidealer systems that sit alongside them. “You only have so much real estate on
a trading desk,” explains Bob Tull, head of the forex and commodities group at Fifth Third Corp., a
Cincinnati-based regional bank. “Besides, no one wants to log in to all those separate systems.”

For banks, that means there’s no single solution. To maintain their dominance, they have to offer
keen pricing on multilateral platforms and constantly refine their in-house systems. That is costly,
but it’s a reality the banks are resigned to. As Goldman’s Schonberg puts it, “We’re in a constant
battle for relevance.”

ExpertTrader 02-01-2012 05:34 PM


Harap semua dapat Ilmu yang bermanfaat (tak payah lagi di'gulakan' dengan SS yang berjuta) -
sebab apa yang di tulis di sini adalah Fakta (jika tak tepat, ada lagi lebih tepat, maafkan saya)

ET

osazizi 02-01-2012 05:36 PM

jadi ASK rasanya..sy anggap Market Makers ni jd bilis mcm ambe..entah x tau betul ke
x..rasa2nya la nih..hehe..

Quote:

Originally Posted by ExpertTrader (Post 11800201)


Bila Big Banks SELL kat EBS -

pada Market Makers order itu jadi apa ? BID ke ASK ?

Ingat, satu tugas utama Market Makers adalah untuk sediakan atau provide Liquidity kepada
Customers DAN juga kepada Networks -

asdasdasd 02-01-2012 06:01 PM

Quote:

Originally Posted by ExpertTrader (Post 11800233)


Harap semua dapat Ilmu yang bermanfaat (tak payah lagi di'gulakan' dengan SS yang berjuta) -
sebab apa yang di tulis di sini adalah Fakta (jika tak tepat, ada lagi lebih tepat, maafkan saya)

ET

kn best kalu ada button thks....... :">:">:">

kakcik 02-01-2012 08:00 PM

Sory semua, newB nak tanya skit, maksud 'order window' tu klick kat' new order' ker

asdasdasd 02-01-2012 08:08 PM

Quote:

Originally Posted by kakcik (Post 11801084)


Sory semua, newB nak tanya skit, maksud 'order window' tu klick kat' new order' ker

mungkin kot. yg penting ko tahu kat mana nk wat order, sell and buy. aku pun tak pernak amik tahu
istilah yg remeh temeh camni... :):)

osazizi 02-01-2012 08:13 PM

betul la tu agaknya kakcik..:):)

Quote:

Originally Posted by kakcik (Post 11801084)


Sory semua, newB nak tanya skit, maksud 'order window' tu klick kat' new order' ker

fx0nl1n3 02-01-2012 08:17 PM

Quote:

Originally Posted by ExpertTrader (Post 11755265)


Ini hasil manual (demo) - 2 hari
Nantikan perbincangannya - (terlalu awal utk terjawab persoalan)

salam bro, nak bagi saran jer, ape x lagi bagus bagi real account statement kat sini?

andalusia 02-01-2012 09:25 PM

Quote:

Originally Posted by asdasdasd (Post 11800384)


kn best kalu ada button thks....... :">:">:">

Tahniah dan terima kasih pada TT.Satu sumbangan pengetahuan yg terbaik dan saya masih
menanti2 setiap ilmu dr TT.:)cgrock

zeman 02-01-2012 09:34 PM

Quote:

Originally Posted by ExpertTrader (Post 11799888)


Berita2 mcmni kena baca, 8 Dec 2011

(Baca dulu, nanti saya cuba summarize -)

Big Banks Competing in the Currency Wars

Decimalization, high frequency trading, alternative liquidity pools — one by one, the innovations
that so disrupted the once-clubby world of stock brokerage have been transforming the trading of
foreign exchange. Ever wonder where the infamous stock market day traders of the 1990s have
gone? “We’ve even got those now,” sighs Daniel Torrey, head of North American sales at EBS, the
electronic currency market operated by ICAP Electronic Broking.

But although the foreign exchange market has welcomed vast numbers of new participants and
electronic trading technologies continue to supplant the telephone-based dealing of old, one
feature has endured: the primacy of a relatively small coterie of global banks. Last year the Bank
for International Settlements’ triennial survey of global currency trading found that the top
market makers’ collective share of orders had grown in all but a handful of the world’s trading
centers, continuing a long-term trend. In the U.K., by far the world’s busiest currency-trading hub,
accounting for 37 percent of all transactions, the combined share of the top ten market makers
rose to 77 percent last year from 70 percent in 2007, the BIS says. Over the past decade the
number of banks accounting for 75 percent or more of turnover has fallen roughly by half in the
U.K. (to nine from 17), the U.S. (to seven from 13) and Japan (to eight from 17).

“The big banks are getting bigger,” observes Peter D’Amario, London-based consultant for
Greenwich Associates, which studies foreign exchange market trends based on its annual survey
of corporate and institutional participants. Considering the past decade’s dramatic changes,
D’Amario adds, “the traditional FX dealers have done a very good job of hanging on to old
players.” And not just the old ones. In part to capture the business of new participants, such as
hedge funds and even online sites catering to retail speculators, the top banks have invested
heavily in electronic trading technology and adjusted their own business models over the past
decade, adding prime brokerage and various forms of agency trading to their traditional market-
making activities.

The stakes for the banks are large. Foreign exchange trading brings in hundreds of millions of
dollars in annual profits — in a good year more than $1 billion — for perennial market leaders
such as Barclays, Citigroup, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase & Co.,
Morgan Stanley, Royal Bank of Scotland Group and UBS. In 2004, the first year in which Barclays
broke out foreign exchange earnings in its annual report, the business generated £213 million
($340 million) in pretax profits, or about 5 percent of the group’s total that year. From 2004 to
2010 currency trading contributed a total of £4.3 billion, or 11 percent of the bank’s overall pretax
profits during that period.

Such a lucrative source of earnings is more important than ever now that bank profits are under
pressure from a sluggish economy and regulatory changes. Crucially, currency profits have proved
to be both steady and uncorrelated with results from banks’ other capital markets businesses.
Since 2000, RBS has earned almost exactly the same amounts from its foreign exchange dealings
(£7.26 billion) as it has from all the rest of its trading activities combined (£7.25 billion). But
although the bank’s currency earnings have bobbed along an upward-sloping curve during that
time, the results from RBS’s other trading operations have ranged from multibillion-pound gains
to a £6.29 billion loss in 2008 (which prompted RBS’s effective nationalization). Similarly, in that
credit crisis year of 2008, Barclays’ foreign exchange profits doubled year-on-year, to £1.27
billion; the figure represented fully 98 percent of the pretax profits of Barclays Capital, the
investment banking subsidiary that houses the currency operation, and nearly a quarter of overall
group profits.

The reasons for trading currencies include facilitating commercial trade and cross-border capital
markets activities, and treating foreign exchange as an investable asset class in its own right,
notes James Sinclair, who used to head research and strategy for EBS and now runs
MarketFactory, a forex-trading technology vendor based in New York. “FX is a reliable business
that fulfills an essential customer need,” he says.

As foreign exchange has become more important to the big banks, there has been a profound
change in the way currencies are traded. The biggest innovation is the growth of electronic
foreign exchange trading, or eFX in industry parlance. Economists at the BIS cite electronic trading
as a primary driver of the postcrisis recovery in currency-trading volume, which at an estimated
$3.98 trillion daily in 2010 was some 20 percent above 2007 levels. (Another key driver is online
trading by retail speculators; see story, right.)

“We could never do the volumes we’re doing without electronics,” says Jeff Feig, London-based
head of Group of Ten forex operations at Citigroup. Like all the large banks, Citi offers its market-
making services through a variety of electronic channels, ranging from its own custom-built
trading platforms to systems run by third-party operators such as Currenex, EBS, FX Alliance and
Reuters that connect customers with prices provided by multiple banks.

It’s a testament to the market’s robust growth that these multidealer platforms are thriving even
as the banks, their chief rivals, continue to control the bulk of trading volume. (The banks, after
all, supply a good part of the volume on the multidealer systems.) The competition between these
two camps is intense, though. Multibank trading venues have made it easier for the banks’
traditional customers — corporate treasurers, pension funds, institutional investors and other so-
called real-money accounts — to compare currency prices and shop for the best one without
calling a bank’s dealing desk. The wiring of foreign exchange has also attracted new participants,
including high frequency traders and others who have adapted their machine trading techniques
to play in the world’s largest over-the-counter market.

The result of these developments has been nothing less than a technology arms race among the
banks and the multidealer platforms to provide faster, easier and cheaper trading services. For
the big banks such a race can require spending $100 million or more a year on technology,
analysts and industry executives say.

A decade ago prices of the most actively traded currency pairs were updated every three to five
seconds on the largest eFX trading platforms, EBS and Reuters. Today prices can change in a
matter of microseconds, a measurement that’s meaningful only to high frequency traders and to
the banks themselves. To keep up with the market’s accelerated pace, the banks have found it
necessary to constantly upgrade and refine their own eFX infrastructure, ranging from the
superfast pricing engines they use to supply prices to multidealer platforms and other eFX
channels to their own client-facing systems — known as single-dealer platforms, or SDPs — which
compete against those channels.

This heightened competition has been a boon for investors, corporations and other currency
traders. “The transparency of information is so great now,” muses Greenwich’s D’Amario. “FX is
becoming a poster boy for the democratization of a market.”

Transparency has its limits, however. Like all assets that are traded over the counter, currencies
are exchanged in many different venues, some of them rather opaque. Over the past year
authorities in California, Florida, Massachusetts and New York, as well as the U.S. Attorney’s
Office in Manhattan, filed lawsuits alleging that Bank of New York Mellon Corp. overcharged
public pension funds for foreign exchange trading in their portfolios. Similar suits have been filed
against State Street Corp. Both banks have vowed to fight the suits. BNY Mellon took out a full-
page ad in the Wall Street Journal last month to deny the allegation that its customers were in the
dark about how it priced its currency services.

THE TRANSFORMATION OF THE FOREIGN exchange market from a bank-controlled world where
most transactions were conducted over the phone to today’s electronic free-for-all began about
two decades ago. Seeking to broaden institutional participation in the market and to develop a
substantial fee-generating business in the process, a handful of banks, led by UBS, began offering
prime brokerage services to currency-trading clients like hedge funds and commodities-trading
advisers. By offering credit, one-stop trade netting and other services, the banks enabled such
clients to take larger positions and trade currencies more actively. By 2005 at least 20 banks were
offering such prime brokerage services to as many as 600 institutions, most of them hedge funds,
according to the New York Federal Reserve.

An even more significant development came in 1996, when Deutsche Bank launched its
pioneering electronic single-dealer platform. The service, dubbed Autobahn, gave Deutsche’s
customers what was then a novelty: screen-based access to a top-tier dealing desk, with some of
the best pricing in the market. Its impact was dramatic. In 2000, Deutsche was voted the top bank
in foreign exchange market share in Euromoney magazine’s annual poll, knocking Citi off a perch
that it had held for more than 20 consecutive years. Other big banks soon followed Deutsche’s
lead — or found themselves declining in the market-*share rankings. UBS introduced its SDP,
called FX Trader, to industry acclaim early in the past decade, briefly displacing Deutsche at the
top of the league table in 2003.

While the banks were going electronic, a number of new players entered the scene. Currenex, a
Silicon Valley start-up now owned by State Street, launched an electronic currency-trading service
aimed at corporations and institutional investors in 1999. The following year a consortium of ten
banks launched the electronic platform FXall, and another electronic upstart, Hotspot FX Holdings
(now owned by Knight Capital Group), opened for business. These companies grew rapidly by
targeting nontraditional currency traders, such as the wave of high frequency trading firms, like
Jump Trading and Getco, that burst on to the scene around the turn of the century. Trading
volumes for the three platforms have grown to between $50 billion and $80 billion a day
currently. With business buoyant, FXall has decided that the time is right to go public, filing its
initial public offering registration with the Securities and Exchange Commission in September, a
deal that is expected to raise about $100 million.

Competition intensified further in 2004 when EBS, which had been an interdealer brokerage,
opened its trading system up to nonbanks such as asset managers and hedge funds, a move that
Reuters quickly matched. With their origins in the interdealer market, where large banks traded
exclusively with one another through a brokerage to preserve anonymity, EBS and Reuters offer
exactly what machine traders seek: some of the best liquidity available. The two firms boast
average daily volumes of $125 billion to $140 billion apiece, or about a quarter of the overall eFX
market each. Although the two companies are fierce rivals, they have thrived in part by
specializing in separate instruments: EBS is regarded by professionals as the deepest market for
the euro-U.S. dollar trade, for example, while Reuters boasts the most activity on British pound
crosses.

The rise of multiple electronic dealing platforms set the stage for the first major skirmish in the
foreign exchange arms race, over latency arbitrage. Seeking to take advantage of momentary
pricing disparities among various eFX channels, high frequency traders invested in speed-
enhancing techniques like colocation, positioning their computers near those of the electronic
platforms to shorten the physical paths their orders must travel. The electronic platforms were
only too happy to oblige because their revenues are based on commissions and therefore increase
with trading volume regardless of price, unlike the banks, whose dealing profits vary with the
amount of spread they can capture in each trade.

The rise of high frequency trading has not only helped narrow spreads — now $100 or less on a
standard $1 million deal in the most widely traded currency pairs — it has also turned some of
these alpha-seeking traders into de facto market makers. “We always used to think, ‘We’re never
going to beat those guys, with their colocation schemes,’?” Citi’s Feig says. “Until all of a sudden
we realized they are our competition.”

To meet the challenge of the rival platforms and the latency arbitrage they facilitated, the big
banks ramped up their technology spending, even through the financial crisis that began in 2007.
Each of the top dealers today boasts its own “low-latency” infrastructure: a complex, custom-built
collection of superfast pricing engines, trade-matching and other market-making computers, and
related network plumbing that represents some of the most advanced hardware and software in
use on Wall Street. As a result, the banks are able to participate actively on venues like EBS and
Reuters as well as on their own proprietary platforms. “We’re in a world where the banks mingle
with their clients in many venues,” says Ian O’Flaherty, London-based head of eFX at Deutsche.

With this build-out, says analyst Howard Tai, a Kansas City, Missouri–based analyst at Aite Group,
a Boston consulting firm that focuses on Wall Street’s information technology spending, the
trading strategy once preferred by forex high frequency traders has been pretty much turned off.
“The HFTs and others that used to be latency arbs have had to change their stripes,” adopting
methods such as momentum-based trading strategies, says Tai.

The banks’ response to the latency arb threat underscores the way electronics have transformed
the economics of the business. What was once a big-ticket, relatively high-margin activity for the
banks has become one based on low margins and ever-higher volumes. More than ever, the
industry favors the biggest banks at the top of the forex food chain, the so-called flow monsters
that can process the highest volumes of trades at the lowest cost. “Every one of the big banks
wants to be Costco,” observes one regulator, who spoke on condition of anonymity.

Notwithstanding the impact of high frequency traders and other new market participants,
business from traditional corporate customers and institutional investors continues to rise and
remains the foundation of the currency market. That’s another reason the big banks are still so
central to the foreign exchange market. After all, they are the main providers of credit and
payment services to global corporations and real-money accounts. “If you take the end users out
of the market, there would be no HFTs,” says Mike Bagguley, head of forex trading at Barclays
Capital in London.

The key for Barclays and other banks is to channel as much of their trading as possible through
their proprietary, client-facing systems. These single-dealer platforms allow banks to match some
customer orders with others to minimize market impact, which is just what customers prefer. “The
banks have looked to internalize their flow more than they have in the past,” says Alan Schwarz,
president and COO of trading systems vendor Trading Cross Connects US and a principal of a fund
that backs proprietary trading outfits specializing in high frequency trading. Some big banks can
meet as much as 80 percent of their customer flow through their internal matching systems,
sources say.

The banks also use their proprietary platforms to differentiate themselves, promoting their
strengths in research or algorithmic trading, for example, or tailoring products to appeal to
particular customer segments. Above all, single-dealer platforms combined with old-fashioned
phone traders allow banks to offer customers so-called dedicated pricing — deals that are better
than those they post to multidealer systems, where they can get picked off by machines.

It’s not surprising, then, that banks are spending heavily to develop their single-dealer platforms.
Aite Group estimates that banks’ spending on such proprietary systems reached an all-time high
of $1.5 billion in 2010, double the amount spent just four years earlier. And there’s every
indication the trend will continue.

Credit Suisse developed a new line of platforms in the middle of the past decade, including
PrimeTrade FX for cash deals and Merlin FX for trading currency options. The investment was part
of a broad strategy of building a “customer-led flow business,” says Martin Wiedmann, head of
forex sales and distribution in Zurich. “It became very obvious we needed to be in e-trading in a
big way,” he says. Today the bank handles the majority of its foreign exchange volume over its
proprietary eFX channels.

Goldman Sachs began to get serious about eFX around 2005, says Rick Schonberg, who heads the
bank’s eFX distribution efforts. The investment bank launched its single-dealer platform, Redi FX,
in 2007. Goldman’s New York–based eFX unit has about 20 people, compared with a North
American sales and trading desk of about 130, but it has doubled in the past year alone. “With
electronics we get more business than ever before,” says Schonberg.
Citi, JPMorgan Chase, Morgan Stanley and UBS have also introduced new client trading platforms
in recent years. Smaller players looking to move up the ranks, including BNP Paribas, Nomura
Securities Holdings, Société Générale and Standard Chartered, have launched their own rival
systems. All of these platforms employ the latest web-presentation frameworks, using price tiles
to display the latest bid and ask prices for each currency pair. The systems enable traders to
customize their work spaces and toggle through stored screen configurations with a few mouse
clicks.

The more significant innovations in the latest-generation platforms include enhanced trading
tools and the addition of other asset classes, such as currency derivatives. “We can innovate more
on an SDP than we can on other platforms,” explains Holden Sibley, New York–based head of
electronic trading sales at Barclays Capital. In 2005, Barclays used its platform, called BARX FX, to
become the first dealer to extend pricing out to a fifth decimal place for certain actively traded
currency pairs. That innovation has since been adopted by other large dealers and this year by
EBS. (Reuters has so far resisted the move, saying its customers haven’t shown interest in the
smaller tick size.) Such advances help explain why Barclays nearly doubled its global market share
between 2005 and 2010, rising to No. 3 in the Euromoney ranking. BARX FX now claims one of the
industry’s biggest footprints, with more than 2,500 institutional clients.

Barclays can also take credit for being a pioneer in what has become the latest fad in currency
trading: offering customers algorithmic execution services. Algos allow customers to automate
the execution of their orders in a market-savvy way, slicing a trade into smaller orders that can be
dripped into markets to lessen impact, for example.

Citi’s algo offerings stem from the bank’s work on forex market microstructure, says Andrew
Coyne, the bank’s London-based head of forex prime brokerage and G-10 e-commerce. Akin to
transaction cost analysis, algo offerings are “important to real-money investors,” he adds. Credit
Suisse, Deutsche, Goldman Sachs, Morgan Stanley and others have stepped up their offerings.

The efforts are gaining traction. It’s a measure of the market’s competitiveness that many
corporate customers and even less active currency traders are installing multiple bank platforms
on their trading desks. “They’re not choosing one or the other; they’re choosing all,” reports Jim
Daley of SunGard Data Systems, which helps buy-siders link front- and back-end trading systems.
Customers that a couple of years ago had electronic links to one or two bank platforms now have
three to five, he says.

Of course, every bank knows that installing its platform on a customer’s trading desk doesn’t
guarantee it will be used. The busier trading desks, such as those at currency funds and regional
banks, may have monitors or feeds from a dozen different banks and still send most of their
trades to the multidealer systems that sit alongside them. “You only have so much real estate on
a trading desk,” explains Bob Tull, head of the forex and commodities group at Fifth Third Corp., a
Cincinnati-based regional bank. “Besides, no one wants to log in to all those separate systems.”

For banks, that means there’s no single solution. To maintain their dominance, they have to offer
keen pricing on multilateral platforms and constantly refine their in-house systems. That is costly,
but it’s a reality the banks are resigned to. As Goldman’s Schonberg puts it, “We’re in a constant
battle for relevance.”

ilmu baru yg patik dapat...tapi pening nk habeskan...~X( pening nk tau pos ape derang amik..
Rin0 02-01-2012 10:21 PM

Saye ade bace satu artikel pasal market maker.Tapi artikel ni untuk stock.Tak tau la ade kaitan
dengan forex ke tak.

Tapi ade ayat yang saye minat kat artikel ni.

Who Are Market Makers?


Many option traders and stock traders ask,who is buying from me when I am selling and who is
selling to me when I am buying? Whathappens when nobody wants to buy a stock or stock option
which I am selling? In a normal, liquid market, there are usually someone queuing to sell a stock or
stock option when you are buying and someone queuing to buy when you are selling. However,
there are times when nobody is queuing to sell when you are buyng and times when nobody is
queuing to buy when you are selling, so, how is it that you are still able to buy or sell your stocks
or stock options smoothly? This is where Market Makers come in.

How Does Market Makers Make A Profit?


Market Makers are not paid commissions to buy and sell stock options, so how do they make a
profit? Well, most institutional market makers simply earns a salary from the marker maker firm
that they represent. Market Maker firms like Goldman Sachs and Morgan Stanley, commit their
own capital to maintain an inventory of stocks and options and represent customer orders. On the
trading floor, Market Makers make money by maintaining a difference between the price he would
buy and the price he would sell a particular stock or stock option. This difference in price is known
as the Bid-Ask Spread. A bid-ask spread ensures that if an order to buy and an order to sell arrives
simulataneously, the Market Maker makes the difference in Bid-Ask Spread as profit.

Ade banyak lagi yang menarik :


-Advantage Of The Market Maker System
-What Happens If There Are No Market Makers?
-Risks That Market Makers Face
-How Does One Become A Market Maker?

Boleh selak2 sendiri kalau nak tambah ilmu.

http://www.optiontradingpedia.com/market_makers.htm

andalusia 03-01-2012 12:55 AM

Sekali lagi - untuk pembaca thread ni mengambil manfaat -

Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila 'rasa'
dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -
sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

soalan.
Katakan untuk enter SELL(merah/bid)semasa spread besar dalam 50pips.Adakah gerakan menaik yg
Cun giler itu hanya harga BIRU(ask) sahaja dan merah(bid) kekal disitu (dalam keadaan spread besar
50pips)~X(

laharjaya 03-01-2012 11:28 AM

Quote:

Originally Posted by andalusia (Post 11803551)


Sekali lagi - untuk pembaca thread ni mengambil manfaat -

Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila
'rasa' dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -

sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

soalan.
Katakan untuk enter SELL(merah/bid)semasa spread besar dalam 50pips.Adakah gerakan menaik
yg Cun giler itu hanya harga BIRU(ask) sahaja dan merah(bid) kekal disitu (dalam keadaan spread
besar 50pips)~X(

terminal mudah jd kejang ..... :)

laharjaya 03-01-2012 11:29 AM

tahniah buat TT

pencerahan dapat medalamkan lg pemahaman porek nih

ExpertTrader 03-01-2012 11:40 AM


Di sinilah letaknya 'seni' -

dan TERUTAMA - FEEL the Beat of Market

Rasakan Tipu Dayanya Market Makers

Price Move bila :

1) Demand dgn Supply tak Balance


2) Price move dari Low Liquidity ke High Liquidity

Bila BID lebih banyak dari ASK, price naik - that's is normal Rule - tapi SEMESTINYA KAH - apa
peranan TERBALIK MARKET MAKER KAT SINI -

(dalam tu)

Quote:

Originally Posted by andalusia (Post 11803551)


Sekali lagi - untuk pembaca thread ni mengambil manfaat -

Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila
'rasa' dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -

sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

soalan.
Katakan untuk enter SELL(merah/bid)semasa spread besar dalam 50pips.Adakah gerakan menaik
yg Cun giler itu hanya harga BIRU(ask) sahaja dan merah(bid) kekal disitu (dalam keadaan spread
besar 50pips)~X(

zhary 03-01-2012 12:32 PM

Quote:

Originally Posted by andalusia (Post 11803551)


Sekali lagi - untuk pembaca thread ni mengambil manfaat -
Cari 5 digit broker, variable spread

Buka Order Window - perhatikan dalam2 spread, Ask n Bid -

Cari masa Low Liquidity = semasa Spread Besar -

Jangan masuk BUY semasa 'nampak seakan gerakan naik atas macam CUN' - masuk SELL bila
'rasa' dia dah tak boleh gerak atau dengan cepat dia 'melantun' bawah balik -

sebaliknya jika ada gerakan macam tak CUN ke bawah -

Boleh ikut ? Praktis kan - -

soalan.
Katakan untuk enter SELL(merah/bid)semasa spread besar dalam 50pips.Adakah gerakan menaik
yg Cun giler itu hanya harga BIRU(ask) sahaja dan merah(bid) kekal disitu (dalam keadaan spread
besar 50pips)~X(

Ada ke spread besar sampai 50 pips..? :-?

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CariGold Forum (http://www.carigold.com/portal/forums/index.php)


- Forex General Discussion (http://www.carigold.com/portal/forums/forumdisplay.php?f=94)
- - Apakah Persoalan Pokok Sudah Terjawab ?
(http://www.carigold.com/portal/forums/showthread.php?t=296468)

nasigorengkicap 03-01-2012 09:28 PM

Quote:

Originally Posted by zhary (Post 11805997)


Ada ke spread besar sampai 50 pips..? :-?

5 decimal kot..

orgbendang 04-01-2012 11:47 PM

nk kena download ebs ke utk dapatkan data2 nie bro?

ExpertTrader 05-01-2012 10:19 PM

thread ni sudah bersambung di Forex Trading Styles > Trade dengan Pemahaman Demand dan
Supply

http://carigold.com/portal/forums/sh...d.php?t=298252

brainn68 07-01-2012 10:52 PM

Quote:

Originally Posted by ExpertTrader (Post 11828758)


thread ni sudah bersambung di Forex Trading Styles > Trade dengan Pemahaman Demand dan
Supply

http://carigold.com/portal/forums/sh...d.php?t=298252

Terima kasih TT..:)cgrock

FaZiL^aFiZi 15-08-2012 10:45 PM

Quote:
Originally Posted by ExpertTrader (Post 11782166)
'Trade with Present Moment'

'Trade dengan MASA SEKARANG'

bukan masa lepas -

'kuasanya masa sekarang' - the power of present moment - true beat of life

'apa kita buat sekarang' - 'menentukan masa depan'

'tengok sehingga nampak, gerakan halus, tepat, terperinci yang memberi kita beberapa 'rasa
gerakan akan datang' beberapa 'beat' sahaja lagi -

aku praktikkan benda ni + trade with trend....okey la bole cari makan dlm forex ni. tq TT .nice info :)

bebeggoreng 16-08-2012 11:15 PM

hm... itu penjelasan tentang trade masa sekarang, melupakan yang lalu ataukah tentang analisa ke
?

Jembo 30-08-2012 01:26 AM

tumpang blaja masta...

FaZiL^aFiZi 04-09-2012 08:58 AM

baru baca & cuba memahami sehingga page 5. TQ tt bukak thread ni.

leftenan_TLDM 05-09-2012 12:42 AM

dah abih baca satu persatu sampai page 21....dah nampak jln tapi masih xberani nak bagi pendapat
lagi.....

FaZiL^aFiZi 06-09-2012 05:11 AM

Quote:

Originally Posted by ExpertTrader (Post 11828758)


thread ni sudah bersambung di Forex Trading Styles > Trade dengan Pemahaman Demand dan
Supply

http://carigold.com/portal/forums/sh...d.php?t=298252
isi kandung thread ni akuu dah faham.TQ ET .

p/s... nk follow ke thread baru pulak. :)

sansorrow 14-02-2013 12:14 AM

tenkiu tt.. nubie tumpang belajo :)

rayz 14-02-2013 01:14 AM

memang tt seorg yg pakar ilmu tinggi ni

anakin101 18-09-2014 04:36 PM

parking duluuu

doyan ngemil 22-09-2014 05:37 PM

Ikutan menyimak , semoga ilmu trading yang di miliki TT bisa dipahami dengan baik oleh saya

paketrok 22-10-2014 10:46 PM

Saya juga ikut mencoba menyimak

agusfx 05-01-2015 12:02 PM

untuk menjawab persoalan pokok trading forex ini memang membutuhkan banyak trader agar
trader bisa merundingkan apa persoalan pokok yang masih kita tidak ketahui :)

paketrok 06-01-2015 11:31 PM

Foex adalah bisnis yang menguntungkan sehingga kita harus optimal dalam melakukan trading
dengan lebih maksimal

agusfx 12-01-2015 12:35 PM

Quote:

Originally Posted by paketrok (Post 21246089)


Foex adalah bisnis yang menguntungkan sehingga kita harus optimal dalam melakukan trading
dengan lebih maksimal

setuju sekali om,agar kita bisa berhasil dalam melakukan trading ini kita memang harus
mengoptimalkan proses pembelajaran kita di akun demo agar pada saat trading di akun real kita
bisa mencapai hasil profit yang maksimal dan juga konsisten .

paketrok 14-01-2015 06:42 PM

Quote:

Originally Posted by agusfx (Post 21269973)


setuju sekali om,agar kita bisa berhasil dalam melakukan trading ini kita memang harus
mengoptimalkan proses pembelajaran kita di akun demo agar pada saat trading di akun real kita
bisa mencapai hasil profit yang maksimal dan juga konsisten .

memang kita harus mengoptimalkan proses yang kita lakukan sehingga hasil trading yang kita
lakukan bisa konsisten dan maksimal

cahcuncun 22-01-2015 11:21 PM

Quote:

Originally Posted by paketrok (Post 21282627)


memang kita harus mengoptimalkan proses yang kita lakukan sehingga hasil trading yang kita
lakukan bisa konsisten dan maksimal

Proses trading di forex harus kita nikmati dan kita ambil sisi positifnya agar membuat kita bisa lebih
siap untuk trading nantinya. Gunakan modal kecil jika memang kita masih baru di forex ini, karena
dengan modal trading kecil akan membuat kemampuan MM dan RM juga terasah

paketrok 27-01-2015 09:44 PM

Quote:

Originally Posted by cahcuncun (Post 21320920)


Proses trading di forex harus kita nikmati dan kita ambil sisi positifnya agar membuat kita bisa
lebih siap untuk trading nantinya. Gunakan modal kecil jika memang kita masih baru di forex ini,
karena dengan modal trading kecil akan membuat kemampuan MM dan RM juga terasah

Benar tuan, yang positif kita ambil untuk kesuksesan kita sendiri nantinya

uncle gober 06-02-2015 04:58 PM

Quote:

Originally Posted by paketrok (Post 21341488)


Benar tuan, yang positif kita ambil untuk kesuksesan kita sendiri nantinya
Setuju tuan, ambil setiap pelajaran yang baik dari setiap ilmu yang kita peroleh untuk bisa kita
aplikasikan dalam akun trading yang kita miliki

paketrok 21-04-2015 12:16 PM

Quote:

Originally Posted by uncle gober (Post 21385851)


Setuju tuan, ambil setiap pelajaran yang baik dari setiap ilmu yang kita peroleh untuk bisa kita
aplikasikan dalam akun trading yang kita miliki

Setiap keputusan yang kita ambil dalam trading semua ada resikonya makanya kita harus bisa
belajar optimal sehingga mempunyai hasil yang maksimal

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