Malaysia forex trader community america
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Three factors can be attributed to this phenomenon: the economic climate, regulatory commissions, and government support. These factors, in turn, create a perfect environment for Malaysian traders to flourish. Below are 8 successful traders in Malaysia who we deem worth appreciating. Most of them join TradingViews, one of the biggest platforms in the world that encourages knowledge-sharing.
Thus, this list consists of traders who are not only successful but also generous in sharing their knowledge. He is renowned for his generosity in sharing his knowledge with fellow traders and has mentored and coached many successful traders over the years. Through extensive researches and tests, Oma Ally found the perfect formula to utilize these indicators and thus, bring forth a strategy dubbed BBMA Oma Ally.
This trading strategy is well-known for its high entry accuracy, low floating time, and multiple entries. Thus, it has become a topic of knowledge-sharing among traders in Malaysia and its neighboring countries. It is almost guaranteed that his class is full despite it being a paid service.
This shows how his reputation has earned him a high level of trust from traders. Rayn Lim Rayn Lim is a trader of Singaporean origin and mostly operates his business from his native country. Nonetheless, it should be noted that Malaysia and Singapore share borders with each other and most importantly have the same time zone.
For these two reasons, Rayn Lim is included in this list of successful traders, an individual that traders from the Malaysian region can genuinely look up to. Rayn Lim has been active on TradingView since 3 years ago. Over the years, Rayn Lim has been regularly sharing his analysis on the market. He shares his insight about bullish and bearish signals as well as shark setups which seem to be of his particular interest. He is a person who loves to share his expertise and knowledge to help fellow traders to capitalize on profitable situations.
He holds the certification of Harmonic Patterns Trading Coach and offers paid professional consultation for when traders face specific obstacles on their trading plans. He can be found on Twitter raynlim where he also offers daily analysis on forex trading.
Sufiansaid Presumably named after Sufian Said, not much is known about this account other than the person behind it is originated from Brunei Darussalam, a country that borders Malaysia and shares the same time zone. This trader joined TradingView around 4 years ago and is still going strong until now.
Sufiansaid regularly posts his insight on a trade on the platform. The account mainly focuses on bullish long term trading plans and bearish short term plans. He started his account around 1 year ago and in a relatively short time, he has been gathering a respectable amount of reputation of 1,, with likes and followers, as well as shared ideas. SL-Trades is a well-rounded trader who operates in multiple markets. These numbers showcasing SL-Trades' versatility to take on different fields of trading are a testament to his skill set as a trader.
SL-Trades present a lot of information on his page, thus the account is worth visiting for those interested in trading in general and especially forex. Previously known as Jeannek, she joined TradingView around 5 years ago and has been gaining reputation points, likes, and followers. The number of her followers might seem to be low considering the length of time on the platform.
Ally is renowned for sharing his knowledge with fellow investors and has been known to have mentored multiple successful traders over the years. The community is very popular amongst Telegram users, boasting thousands of members. Rayn Lim Rayn Lim is a Singaporean trader which mainly operates from his native country. Nevertheless, it should be noted that Malaysia and Singapore share borders and have the same time zone, therefor Rayn Lim is included in this list of successful Malaysian traders.
Rayn Lim is known for regularly sharing his analysis on the market, bullish and bearish signals as well as shark setups. Lim holds the certification of Harmonic Patterns Trading Coach and offers paid professional consultation to traders who face specific obstacles. Sufiansaid Not much is known about the trader behind this account. It is said that the trader originated from Brunei Darussalam, a country which borders Malaysia and shares the same time zone.
This mystery trader joined TradingView approximately 4 years ago and the account has gathered around followers. This account is seen as one of the most experienced forex traders in the Malaysian region. The Sufiansaid account regularly posts insights on bullish long term trading plans and bearish short-term plans, a lot of self-explanatory charts and information on various currency pairs.
The account was started approximately 1 year ago and has followers thus far. SL-Trades is a well-rounded trader who operates in both Foreign exchange and stocks. SL-Trades offers a lot of information on his page, including tips on trading in general. Her focus largely falls on commodities and cryptocurrency trading.
Jeanne Kong works on bearish trends and shares interesting information related to trading in general. Unfortunately, not much is known about the trader behind the account. For the most part, the account focuses on commodities, forex and indices. Teehanming Teehanming is an account which joined TradingView around 8 months ago.
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The community is very popular amongst Telegram users, boasting thousands of members. Rayn Lim Rayn Lim is a Singaporean trader which mainly operates from his native country. Nevertheless, it should be noted that Malaysia and Singapore share borders and have the same time zone, therefor Rayn Lim is included in this list of successful Malaysian traders. Rayn Lim is known for regularly sharing his analysis on the market, bullish and bearish signals as well as shark setups.
Lim holds the certification of Harmonic Patterns Trading Coach and offers paid professional consultation to traders who face specific obstacles. Sufiansaid Not much is known about the trader behind this account. It is said that the trader originated from Brunei Darussalam, a country which borders Malaysia and shares the same time zone. This mystery trader joined TradingView approximately 4 years ago and the account has gathered around followers. This account is seen as one of the most experienced forex traders in the Malaysian region.
The Sufiansaid account regularly posts insights on bullish long term trading plans and bearish short-term plans, a lot of self-explanatory charts and information on various currency pairs. The account was started approximately 1 year ago and has followers thus far. SL-Trades is a well-rounded trader who operates in both Foreign exchange and stocks. SL-Trades offers a lot of information on his page, including tips on trading in general. Her focus largely falls on commodities and cryptocurrency trading.
Jeanne Kong works on bearish trends and shares interesting information related to trading in general. Unfortunately, not much is known about the trader behind the account. For the most part, the account focuses on commodities, forex and indices. Teehanming Teehanming is an account which joined TradingView around 8 months ago. The Malaysian trader behind the account offers well-structured information about forex trading in general. Let us understand the complete process and working methodology of forex market with the help of an example.
Online forex trading is done through trading platform which is a software that can be downloaded on electronic devices. The trading platform connects the traders to brokers, liquidity providers, and other forex traders. Traders place buy or sell orders through trading platforms on their preferred trading instruments.
This means that the bid price is 1. First, we will place a buy order for 1 standard lot , units of the base currency. By closing the buy position at this price, the following will be the profit. Following will be the exposure amount in a short position. By closing the position at this position, the following will be the profit. Brokers who connect traders to liquidity providers e. Low deposit is not a barrier in online trading. Brokers offer margin-based trading allowing traders to leverage.
Online trading has become popular with the advent of technology. MT4 and MT5 are the most popular trading platforms. All you need to trade on these platforms is a brokerage account and a minimum deposit as stipulated by your broker.
Once this is done, you are ready to trade. Institutional traders use platforms like Refinitiv. Basic Forex Trading Terminologies Forex trading terms are quite many. However, you do not have to learn all at once. Here are some basic terms you should know: 1 Pips: A pip shows the unit change in the value between two currencies. A pip measures this change whether there is an increase or decrease in value.
Here is an example to help you understand. This means that the dollar rose in value by 0. Pips are key to knowing how much you stand to gain or lose in a trade. You are buying a currency and selling another simultaneously. This is why currencies are paired against each other. A currency pair typically contains six letters. Let us work through this. USD is a single currency that represents the U. This is a currency pair.
A currency pair could be major, minor, or exotic, depending on its makeup. If you do not have enough money to open a certain position size, your broker takes a down payment from your deposit and lends you the rest. This down payment is known as the margin.
When you close the position, the margin is returned to your deposit. Leverage is usually expressed in ratios. This is the power of leverage. You get to use a small volume of money to control a huge volume of money. The bid price is the highest price your broker can buy a currency from you. The ask price is the lowest price your broker can sell a currency to you. The ask price is usually higher than the bid price.
The spread is also measured in pips. Just like you go to the market to buy things with specific numbers, it is with forex trading. There are three types of lot sizes. The lot size you trade with determines the unit of a currency you are buying or selling.
Market Trading Terms Some terminologies are based on market activities and traders must acknowledge these to understand price movements in the forex market. Bull Market Bullish trend or bullish market is a commonly used term in financial markets to denote appreciation in the price of the asset. For example, a continuous rise in prices of a commodity or stock for a prolonged period will be called a bullish trend.
In a forex pair, a bullish trend can be due to appreciation as well as the depreciation of one currency with respect to other. Bear Market A bearish trend or bearish market is exactly the opposite of a bullish trend. Continuous depreciation in the price of an asset is commonly denoted as a bearish trend. Growth in GDP can be compared with other nations to predict the increase or decrease in the price of a currency pair. Inflation Inflation means a rise in prices in a nation over a time period.
There are multiple factors in an economy that can increase or reduce inflation. Each country has different inflation rates at a particular time interval. Inflation rates of two currencies involved in a currency pair can be compared to predict the price movement of a currency pair. The country with a higher rate of inflation will lose its value against the one that has a lower inflation rate. Interest Rates The interest rate of a country that is also known as the repo rate is the basic rate at which the central bank will provide loans in a particular nation to commercial banks.
Interest rates also depict the rate at which investors can earn through fixed deposits in the country. Interest rates are decided by the central bank or the monetary authority of a nation. Interest rates can be comprehended to predict the price movements in a currency pair. If the price increases from 1. The change in price is calculated as 1. This gives you 33pips in profit. In monetary terms your 33 pips is multiplied by the pip value of your lot size.
Remember that the value of a micro lot is 10cents. Therefore, your profit is calculated as 33 x 10cents. Only institutional traders get to trade forex through local brokers. Since the framework for electronic trading came into effect in November of , institutional investors have been able to trade forex via approved platforms like Bloomberg and Refinitiv. Online forex trading is not available to retail investors locally.
If you are a retail trader, your only options are foreign brokers. This is where online trading becomes risky. There are foreign brokers who accept traders from Malaysia. However, this does not mean you can register with any broker. You should trade with regulated brokers only. If you choose an unregulated broker, you can fall victim to fraudulent business practices.
These brokers also offer different accounts with varying instruments, execution speed, and fee. Since Islam forbids earning money via interest, any broker you choose must also offer an Islamic account. Islamic accounts do not incur rollover or swap charges for holding a trading position overnight. Many brokers offer Islamic or swap free account which does not incur rollover charges.
These charges are revenue for the broker. If it is not charged then traders might need to pay additional commission or increased spread. Clients must inquire the broker about the consequences of choosing Islamic account before choosing a broker in Malaysia. You also do not need much money to begin trading at a retail level. This allows you to open an account on a budget. There are many tier-1 regulated brokers accepting Malaysian clients. These brokers allow you to deposit through local banks and offer swap-free Islamic trading accounts.
Please note that the brokers listed above are not the only ones accepting Malaysian clients. Another important thing to know about your broker is their fees. These fees are charged based on the account type you choose to open with them. You should choose an account that matches your risk appetite and your budget. How can you Trade Forex Online in Malaysia? The first step to trading forex online is to open an account with a broker.
Here are the basics of doing this. Even if you have a number of brokers that offer an Islamic account, you still have to do your research. Research and compare your brokers along these lines. Regulation: The issue of regulation cannot be overemphasized. Your broker must be regulated with tier-1 or tier-2 regulatory authorities.
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