Forex Trading Courses

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Now that I've settled in Malaysia, keeping track of the MYR/EUR exchange rate is taking up a fair bit of my attention. I'm kicking myself I didn't buy lots more Ringgit when the rate was over 5 to 1 last August - and I'm guessing as to where the 'true value' of the MYR/EUR rate is. I haven't a clue really - I guess if it went to 4.5 I'd buy heavily! Will it ever again?

I've been thinking of taking one of the many Forex Courses on offer in Malaysia.
Has anyone ever attended one? Any reviews?

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The true value is where it is quoted today. Don't kid yourself. That's the market if we like it or not.

Forex classes are more scams to hook you into doing trades so someone can make commission and a spread.
It's very much like putting your money on red on the roulette wheel. Don't get bamboozled into thinking there's some great secret to be found out or trick of the trade. The only trick is to reduce your commission and spread.

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Wish you told me that last August Risky!

But if it's all just a blind game of chance, how can you be so sure 4:1 is the true 'value'?

The euro is riding on a lot of bad news at present, but that could change with the next shock to the system - from who knows where. The UK and US are in deep doodoo too, but the ratings agencies and speculators are picking on the euro right now, looking to make a killing. The flavour of the month could change fast.

Regarding these courses - they aren't being run by Forex houses. At least the ones I've found aren't. So where does the commission come into it?
Furthermore, its not like I have much choice about being in this game. I just wanna know the rules!

For what its worth, I think the EUR/MYR value is between 4.5 - 4.8.

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But if it's all just a blind game of chance, how can you be so sure 4:1 is the true 'value'?
For what its worth, I think the EUR/MYR value is between 4.5 - 4.8.

3.93 to 1 is the true value of EUR to MYR. Why? Because that's where the supply and demand of the market is right now as I type. That's true. Anything else is your view.

As a side note:
The forward FX rate may not be equal since you have to scale it up by the respective interest rates. MYR rates are high than EUR rates. So the forward rates look a bit different. Don't get excited about forward rate being cheaper or expensive. It all comes fair over the interest rates.

Take the FX class but be skeptical on what they're really trying to sell you.

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Risky, what is your take on the relationship between the MYR and the USD.
They were pegged from 1998, but that link was officially severed in 2005.
Yet, we still see the MYR apparantly tracking the USD against (for instance) the Euro.
So what is the linkage?

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Hi All
Just a quick question, what's the rate for the £ on the street in Penang ie money changers and banks. Its running around the 4.55 today for cash on-line in the UK.

Regards Martin