Discovering Effective Forex Strategies

A lot of companies are promoting their amazing, foolproof forex strategies these days, but how many of them actually work? It’s hard to answer this question without taking an extensive research and even then you might not have the perfect answer. So, how do you start trading forex with the strategy that works?

Which Forex Strategies Can Make You Money?

The fact is that there is no-one on the planet who can claim that they have guaranteed forex strategies that will make money. All forex traders are operating in a real-life, global market that is influenced by the actions of other traders. Those markets are unpredictable just by virtue of being influenced by so many people. Educated traders can make very well-informed guesses about how the markets will move – but they are still just that – guesses.

The best strategies for trading forex are ones that operate based on an understanding of how the markets have moved in the past. Traders can look at current trend lines, and then try to understand what that means for the future. These strategies are based on something called technical analysis, and they are a sound starting point for any would-be trader, not least because platforms such as Meta Trader have built-in charting features that will make it easy for you to create overlays to inform your decision making. (more…)

Bank Transfer from Akara TEB Bank to Maybank Kuala Lumpur

Finally, I have found a solution to my problem sending money from Ankara Turkey to Kuala Lumpur Malaysia.

Problem Solved

Guess what? Remember when I asked about Bank Transfer from TEB Bank to Maybank, the TEB lady said it will cost me USD 100. So I decided not to use Bank transfer and focus on Western Union.

Until recently one of my wife officemate told us that he send money thru bank transfer from TEB to Maybank and its transfer fee is not that expensive. Later I found out that the reason that I was told USD 100 because I did not have account with TEB.

Only my wife has account with TEB.  My wife officemate gave a copy of form that he used to send money to Malaysia with TEB. He said that TEB only charged 150 TL to send USD 1000 to Maybank.

So we took the copy of his Bank Transfer form, and show it to the lady at the counter so that we can get a new form. Filled in my wife Maybank account and Maybank Swift code : MBBEMYKLXXX.TEBfomTT

Did You Know

Then, my wife provide her KIMLIK or Turkish temporary ID and TEB account book. Then we paid TL150. After that the TEB lady process our form.

You know how long it takes to process our bank transfer ? 5 minutes only. TEB lady said, ok done. Wait for 2 working days,

You know how long it takes for me to que at Yapi Kredi for Western Union …..1 hour and still sometime the service is down. Plus I need to pay more to send money by Western Union, USD 78 around TL 227. Then my brother in Malaysia need to collect the money from the post office and transfer back to my Maybank account. You know how hard it is.

TEB

By Bank Transfer, I only have to wait 2 working days then from Maybank2u I can make all necessary transaction. Yes I know,By using  Western Union, money can be collected immediately after transfer but due to different time zone, my brother usually collect the day after. If and only if Western union is not problem.

So no more worries about waiting and queuing for hours at Yapi Kredi bank. Just go to TEB Bank with my wife on payday, fill in the Bank Transfer form. Tell the TEB lady to deduct straight from bank account. Wait for 2 days and walla! money in Maybank.

Thank you TEB bank…

CIMB Travel Currency with Elizabeth Tan

During my online transaction with CIMBClick, I usually ignore CIMB advertisement. Not until I saw Elizabeth Tan with a travel bag and a guitar. She is a new singer in Malaysia and popular for her song “Knock, Knock”. At first, I thought that the ad is about Travel Insurance because there is no dollar or euro symbol on the ad. Even though  I did read Travel Currency on the ad but my brain cannot decipher the message and can only see Elizabeth Tan singing with her blue stewardess uniform. 🙂

My point is please put a clear message on your advertisement, men cannot understand   this kind of ad clearly. Please, if you want to promote  Currency Exchange Service, please put Dollar and Euro Symbol or Elizabeth Tan holding a lot of Foreign money bill. Don’t just simply put Elizabeth Tan with guitar and a bag. We , men can easily get confuse. 🙂

How To Buy Currency Online with CIMB Travel Currency

 

Elizabeth Tan CIMB Currency Travel

OK now I can clearly understand by looking at the picture above. Let say if I want to buy One Thousand American Dollar USD 1000 from CIMB Travel Currency can I get Elizabeth Tan number hehe.

  1. First I need to go to CIMB Travel Currency Site.
  2. Select my American Dollar from the foreign money list.
  3. Check the Exchange Rate.
  4. From my survey on 20 October 2015, the rate is quite good
  5. USD 1 is equal to RM 4.28 even though real time QE Currency  stated RM 4.24

 

 

 

 

 

 

 

 

  •  Next screen, my order will be listed. I can also add more foreign currency. Let say I want to buy Euro currency, I just can click Add another currency plus sign.

  • For Collection details, I need to enter my personal details and bank location to pick up my Dollar and Euro money. You can select location from CIMB Branch at all major airports including KLIA and KLIA2.

  • Unfortunately for amount more than RM 5000, CIMB staff will call you first within 2 days to confirm your order and after that you can proceed to make the payment. This to make sure that you a not a scammer.

 

  • Lastly, you final order page will look like this.

 

 

**If you order is below RM 5,000, you can proceed to pay the amount via CIMBClicks or from other bank.

Payment_Option_CIMB

A few reminder :

  1. Please make sure, the person that is going to collect the money at the selected bank must be you and all details are exactly match with the form you filled.
  2. If you want other people to pick it up, it is not possible. You can call CIMB to rearrange pick up time.
  3. You have 60 days to pick up the money you ordered, so please plan wisely.

Western Union Offline, DBS Singapore to the Rescue

Remember when I wrote about Western Union with TEB bank in Turkey to send money to Malaysia. Well, now they do not accept Western Union transfer anymore. I am not sure what is the real reason because the Western Union  sticker is still on their door.

So I tried my luck with Yapi Kredi bank just in front TEB bank. Because I saw Western Union sticker on their wall. The guy at the counter can speak English quite well, and yes they can process my Western Union to Malaysia.

Yapi Kredi Western Union

yapikrediOnly one problem with Yapi Kredi bank, the que is quite long especially office hours. Furthermore I don’t have account with Yapi Kredi bank, so I am not their priority. Sometime I have to wait almost one hour.

But since I have no other choice, I fill my time by playing games on my Zenfone2. This continues for a few months until Yapi Kredi Western Union have a system problem. Imagine you wait for almost an hour and when finally its you turn, the guy at the counter say “sorry Western union OFFLINE”. Yapi Kredi was my last hope to send money, so I walk up to 5 banks to ask about Western Union. All of them gave me the same answer “OFFLINE”.

Then I think to myself, is there any other option that I can use to transfer money from oversea to Malaysia. I already asked before about Bank Telegraphic Transfer from Turkey o Malaysia. The lady from TEB Bank said that it will cost USD 100. So not an option. So my best chances right now is Western Union because the fee for transfer is quite reasonable. But I have to ask everyday when the Western Union system is back online. Which is not practical and time consuming.

DBS Malaysia Remit

Until one of my Singaporean friend here in Ankara offered his help to transfer money from his DBS Bank account in Singapore to my Maybank account. Plus, the commission fee is lower than Western Union around 50 lira. Luckily, DBS is currently have a DBS Malaysia Remit promotion, no charge (S$0) fee for transfer money to Malaysian Bank  till December 2015. You can receive money on same day transfer. So no more walking and waiting to the bank. I just asked my friend to transfer money online, and I will pay him in Lira.

At first we tried to transfer only RM200 to make sure the transfer is successful. I gave him all my Maybank account number, Maybank swift code  and address. Well, its good to have a good friend when time like this.

Moral of the story, make a lot of friends where ever you are. Be nice to them and one day you might need their help.