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PMT Forum's MOST POPULAR Discussion Boards => Forex Trading and Investing => Topic started by: Archangel on Jul 10, 2008, 03:16 PM

Title: Newbie Guide to Forex Trading
Post by: Archangel on Jul 10, 2008, 03:16 PM
 :welcome:

To all those newbie forex trader's out there!

Let's use this thread to discuss trading and help each other to become better traders in the future. Much like a trading group.

Just like everything else, there's always a beginning.

Where do we begin?

Title: Re: Newbie Trader Development Corner
Post by: benz666 on Jul 10, 2008, 05:48 PM
hmmm.. I suggest the following for starters.

have this to get the ball rolling.
1.Money that you can actually afford to throw it away.
2.Patience
3.learn learn and learn.
Title: Re: Newbie Trader Development Corner
Post by: SirYuri90 on Jul 10, 2008, 08:17 PM
while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket? I'm not sure if  what I'm saying is right? But I think it will be a great thing to have something like that. The big question is... where can we get something like an automated system that is reliable and proven that it has minimal lost, so that newbies like me could benefit from it without the hassles or complications of graphs and chart. :D
Title: Re: Newbie Trader Development Corner
Post by: Lightwind_99 on Jul 10, 2008, 09:10 PM
to begin, one must take the first step of understanding how the forex market moves. i suggest you have to trade manually at start. A bot is automated, it will only give out positions when the requirements/conditions are in place, it may sound so convenient but bots will only act as directed but what if the market goes zigzag, bouncing off the walls erratically? I'm sure the bot would have opened positions in a zigzag manner and ultimately gave a bad result.

So far there is no bot that is near perfection, every bot has it's own flaws and risks to take. however if you decide things to flow with your own study and instincts, you may avoid those wrong moves upon trading.

Forex is an art to master, you have to see and feel how she dances with those price fluctuations.
you have to develop the skill not to tame her but to anticipate her movements. Patience, perseverance, keen observation and decisiveness is most prime here to be part of the 5% out of the 95% winners in forex trading.
Sooner or later you will find out that trading is not about prices themselves but it's you against yourself.......that's what my good mentor taught me most....it's not about indicators or fundamentals it's about your decision.

You'll understand that concept once you finally understood the proper norms of successful trading.

If you really want to succeed then get hungry to learn.  :hello:
Title: Re: Newbie Trader Development Corner
Post by: Corinthian on Jul 10, 2008, 11:56 PM
Title: Re: Newbie Trader Development Corner
Post by: SirYuri90 on Jul 11, 2008, 01:44 AM
thanks for the reply Corinthian... very informative... and the thing is if there could be a bot that could minimize the losses that will be of great help... I mean i may sound like looking for an "easy" way to trade (who doesn't?) I'm just saying maybe someone or somewhere it is already being done? we just have to look for it...:D
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 11, 2008, 02:46 PM
A trading robot or system which is profitable may exist. But it will surely cost you money. If you want to look at some robots/systems. Visit this site: http://www.collective2.com.

Robots might have weaknessess. If you will buy one, or if you make one, you should understand and continually search for its weakness. For instance, many will turn off their robots during high impact economic news.
Posted on: Jul 11, 2008, 02:29 PM
I guess, I'll be the one to ask the next question:

Most of you guys who are successful in trading or just getting there, must be following a path. You may have been in more than one.

What possible paths can you take to become a successful trader?
Title: Re: Newbie Trader Development Corner
Post by: Jollighe on Jul 11, 2008, 10:38 PM
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 09:40 AM
Hi Jollighe!

I have heard of eToro but I'm not familiar with it.

My advice is, you should have a criteria to filter good brokers from the not so good ones. I recommend that you visit this page: http://www.fxstreet.com/brokers/criteria/ (http://www.fxstreet.com/brokers/criteria/). It is a good resource website. It's independent so their reviews are unbiased. That is the criteria that they use to compare brokers.

Here is the link to their broker comparison table: http://www.fxstreet.com/brokers/forex-brokers/ (http://www.fxstreet.com/brokers/forex-brokers/).

For me I filtered them to 3 firms: Interbank (IBFx), FXCM, and CMS based on additional filters. I looked for the lowest spread, no commision, years in business, regulating agencies, equity (which you can get here: http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documents/file/fcmdata0208-xls.xls (http://www.cftc.gov/stellent/groups/public/@financialdataforfcms/documents/file/fcmdata0208-xls.xls)), their customer svc (IBFx seems to be one of the best), ECN type firm (no dealing desk),  and of course I sampled their demo accounts.

I'm not saying that they are the best, but you should filter out the brokers based on your criteria. And even if you found what suits you, they will also have some bits of shortcomings here and there.

I finally decided to stick with IBFx. Specially since their using the Metatrader platform (although FXCM started to use it now too). I prefer this platform coz it is widely used, there are many resources available to it, and I have a chance to program/modify indicators, scripts, and EAs (since I'm humbly a bit familiar with C type languages). Although, as with many software, there are still bugs on it. But their company releases regular updates to address these things.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 12:46 PM
Mam Jollighe,

Try to read po sa babypips.com, dun lang ako nagsimula and also with the help of the angel :grin1: here in PMT nakapag live forex ako..


Sir Archangel,

Currently i'm on my 2nd month trading forex live although my broker is the infamous marketiva i find the interface very user friendly but i'm also eyeing at the MT4 platform that marketiva doesn't have. I also know programming PHP, VB6 and a little of C#, that's why i want to explore the possibilities of having an AI EA that i can create based on the strategy that i'm doing in manual trading. Sir are you currently using your own created EA system? Or you're still on the learning stage? Mas ok din siguro sir kung you can share few scripts here and what does that script do para other EA authors here can also share their thoughts.. I will try to open a demo account on those brokers that you've mentioned above and first familiarize myself on the interface of the MT4 then after that will look on the MT4 EA potentials.. Happy trading to all, may the PRO share their knowledge to the Newbie's and Wannabe's like us.. Thanks in advance...
Posted on: Jul 12, 2008, 12:38 PM
Naku mukhang based sa mga PRO's it's not yet advisable for me to go on Automated Trading, siguro nga i need to lessen my flaws first on Manual Trading before i put touch the world of automation, thanks sir Lightwind_99 sa inspiring and guiding words...

DSL Connection                       30SGD per Month
Electricity                               50SGD per Month
Views/Tips from the PRO's          PRICELESS

Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 01:12 PM
WannaBe,

You were given a great advice!

I'm also new to currency trading. I have been studying for more than a month and I have opened my demo account for a month now.

With regards to programming EAs and indicators, I've made a few but I'm just tryin use them for studying purposes. With regards to scripts, I use it to modify my order like change the SL to breakeven. I just use it to speed up the process.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 01:22 PM
Archangel,

Actually i only read the post of Sir Lightwind_99 above and realized that this is an advised ala "Veteran move" that's why AI EA on Demo and Manual Trading on Live..

Ah ok, so you still don't have a live account? That's good ako kasi hinde nakatiis after a month yata doing the demo and launched my LIVE account right away nung nakita ko na akala ko i'm good with trading :D...

Maybe after i open a demo account using MT4 based platform brokers we can share ideas on building an automated system, if its okay with you..
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 01:28 PM
WannaBe,

Hindi pa ako nag-open ng live account. Gusto ko munang makasigura na kakayanin ko na. Na magkakaroon ako ng trading model na magkakaroon ng profit, consistently. Plan ko is to at least double my demo account, at least once before going live. I know it will take time.  :D.. But, im not in a hurry right now.

That would be a great idea for us to share ideas on building EAs and trading in general.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 01:35 PM
Archangel,

That's a good attitude, siguro talagang pinanganak akong pasaway and walang disiplina and i hope FOREX will teach me that in a bad way(losing) :)

Ayus to.. sana yung mga ibang PMT na gumagawa ng EA maguide din nila tayo, para we don't spend or wasting time doing guess work.

Nga pala, target mo din ba na in 2 months ma double mo yung Demo Account Funds mo? Like what sir Santi is doing on his LEA system?
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 01:45 PM
WannaBe,

Since bagohan palang ako, di ko pa alam kong gano katagal bago maattain ko ang target kong madouble ang account ko. Pero, even if it takes longer like 3-4 months. Ok lang. Sympre, mas maganda kong hindi ganon katagal. Mini account lang ang inopen ko sa IBFx.

Ano ang concept ng trading style mo?
Posted on: Jul 12, 2008, 01:43 PM
WannaBe,

Isa pa, matagal bago mabuild-up ang confidence ko. Kaya ok lang din kung matagalan bago ko madouble ang demo ko.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 01:58 PM
Archangel,

Scalping for 3 hours a day trying to get as many little pips(8,10,12) that i can, tapos tntry ko rin magpigil and doing a long term positioning open a certain position and set a target profit of about 50 to 60 pips pero kadalasan nattempt ako iclose at mid pa lang.. Hehe pero i will learn to do that slowly.. :) You are really a discipline trader.. Oks yan, babypips and Pro traders also suggest to do a 2 to 3 months demo before going live..
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 02:17 PM
WannaBe,

Ang ganda ng trading style mo. May mababasa ka sa net na hindi daw maganda ang scalping. Pero kong icocompare mo sa other market like stocks, ilang pips lang naman ang movement per day ng mga yun, pero maraming nagtratrade dun.

Gusto kong mapag-aralan ang high probability trading. I think scalping is one of it. What if you can create a high accuracy trading model targetting only small pips? Let's say 10 pips. If you have confidence on it and if it is really highly accurate, the next step is to increase the size of your lots. For example: 1 trade with 1 lot and a profit of 50 pips would be equal to 1 trade with 5 lots and profit objective of only 10 pips.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 04:20 PM
Archangel,

Hindi naman din ganun kaganda, basta mameet ko lang 50 pips a day stop na ko, its risky kasi 4 to 5 times ko inexpose sarili ko sa risk versus sa 1 time 50 pips movement na target.. Actually tinotolerate naman ng ibang broker ang scalping pero may minimum time allowed bago mo dapat iclose, sa marketiva dapat atleast 5 mins open yung position mo bago mo sya close, para nde sya mabilang sa count ng scalping.. 0:01 to 4:59 - scalping, 5:00 - up - not scalping.. Sa rules nila pag naka 5 scalping trades ka within 4 hours, suspended account mo ng 1 week..

Actually ganun gngwa ko, nilalakihan ko qty ng trade ko, pero malaki rin risk involved pag nag breakout against sa position mo.. Kaya hinihintay ko talaga na mag ranging yung market para sakay lang ako sa support and resistance..
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 05:01 PM
WannaBe,

Yun ang isang weakness of trading breakouts, ung mga false breakout. Kaya dapat gumamit ng filters.
Title: Re: Newbie Trader Development Corner
Post by: WannaBe on Jul 12, 2008, 06:08 PM
Archangel,

Ano yung filters?
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 06:39 PM
WannaBe,

In order to get a higher probability that the breakout (or current move) will not reverse (false breakout) you can use a technical indicator, or observe the candlestick pattern or the price action.
Title: Re: Newbie Trader Development Corner
Post by: beast_master on Jul 12, 2008, 08:32 PM



What possible paths can you take to become a successful trader?



Hi guys,

Sali ako sa discussion nyo ha.  I just wanted to share a simple advice that I always tell my fellow traders for old ones and new ones.  It is this:


Make 1000 trades on your demo using the indicators or the method you prefer over and over again.


It does'nt matter if you make pips on your demo trades, just trade.  The purpose of which is to train your eyes on how the price action takes place. Trade on any setups.  You will know what I mean once you have seen enough of the price movements. Spend a lot of time looking at the charts.  It's the only way to understand all the theories, application, indicators and patterns discussed in so many sites available here in the internet.


Good luck on your trading!
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 12, 2008, 09:14 PM
beast_master,

Thank you for that insightful advice. I hope that you would lend us a bit of your time to participate in our discussion and give us more of those priceless advice.

I would assume that you demo traded first before you started trading live. What would be a practical gauge to know when you are ready to trade with a real account?
Title: Re: Newbie Trader Development Corner
Post by: beast_master on Jul 12, 2008, 09:30 PM

beast_master,

Thank you for that insightful advice. I hope that you would lend us a bit of your time to participate in our discussion and give us more of those priceless advice.

I would assume that you demo traded first before you started trading live. What would be a practical gauge to know when you are ready to trade with a real account?



Yup I did demo trade, and gasgas na gasgas yung demo account ko. Somebody wise enough and profitable enough once told that to me.  And it is probably the best advice I could also share with aspiring traders.

To tell you honestly, I dont have any idea how to know if you will really be a profitable trader after your demo trading period.  I know of somebody who was really good with demo trading but failed miserably with live trading.  Sad to say he never traded again.  I know of someone who dont even know how a MACD worked and sucked with demo trading. But after a  few months of trying, he's doing ok now. We'll never know actually.

I did good with my demo trades before, and yet I got margin called with my account on my first month.  So when you think you are ready, just go ahead. Make those trades. Make mistakes but keep your mistakes "affordable".  Stick to your method and you will do fine.
Title: Re: Newbie Trader Development Corner
Post by: rael on Jul 13, 2008, 11:13 PM
Title: Re: Newbie Trader Development Corner
Post by: Archangel on Jul 14, 2008, 08:36 PM
To beast_master and rael, thank you for the great advice. I hope that the aspiring traders such as myself who will visit this thread would take your advice and benefit from them.

To those aspiring traders, feel free to post your ideas and questions in this thread since it seems that we have wise traders regularly joining in the discussion.

Talking about mistakes and emotions. Which do you guys think are the biggest mistakes that traders can make that can keep them from being successful. Or can you share such things that you are experiencing now?

For me it seems that I doubt my decisions which keeps me out of profitable trades. That's why beast_master's advice is valuable to me.
Title: Re: Newbie Trader Development Corner
Post by: ferrariEverest on Jul 14, 2008, 11:58 PM
As i think it's relevant, i copied this(my post) from another thread:
www.pinoymoneytalk.com/forum/index.php?topic=13694.new#new (All About Trading Psychology)

i hope newbies will learn a lot & be sure to take these insights into consideration

-----------------
At the top of my head, andami ko naiisip sabihin. But i'm currently in a trade, so maybe a few points would suffice for now.....Please note that these are my personal thoughts & experiences..

--Forex trading is risky, whatever/whichever way we look at it. I believe only a few handful of people are really destined to survive & succeed trading. This is primarily because of personality & psychology -- the main topic of this thread. Having said that, in general, ANYTHING that involves risk can be worked around, minimized, or even controlled, by way of having some essential traits necessary, like FOCUS, DISCIPLINE, PERSEVARANCE, DETERMINATION, PASSION, & HAVING A PLAN.

--In FX trading, PERSONALITY & (Personal & MASS) PSYCHOLOGY are VERY VERY important & influential. The way you & i trade tells huge sums of info about how we think & what's in our mind, conscious & subconscious. It's no different from playing Cashflow (a financial literacy/accounting board game somewhat similar to Monopoly, to those unfamiliar with it) or picking a college course or set of friends ("friends of the same feather flock together").

-- SOME people thrive WELL in the midst risk &/or fear (opposite of risk-averse/fearful people w/c should avoid trading OR AT LEAST take time to practice). Some people, like me, have an aggressive & adventurous personality, & it works for me MOST --not ALL-- of the time.

--IT's a must that you know yourself well, your personality, your Learning curve, trade strategy/-ies, trade goals etc. Like i said, not everyone is fit to be a Trader (Forex, stocks, options, etc..). If we all were, then wala nang empleyado at lahat puro milyonaryo na dba?  hihi

--Turn a CRISIS into an OPPORTUNITY -- learn to take something negative & turn it into a POSITIVE. This applies to LIFE IN GENERAL as well. I am one of those who had a money in the early forex scams of this decade. Primarily, i succumbed to it because of lack of due diligence (i was about 21/22y.o. then, young, confident,VERY aggressive, VERY idealistic, & IGNORANT of what adult/real estate people call as DUE DILIGENCE, a term i learned about months afterwards). The money was my MOM's. Since Forex is electronic & our GOV'T AGENCIES SUCKS, i know the money is EXTREMELY UNRECOVERABLE. But GUESS WHAT?Confused FOR SURE ALL U FOLKS WOULD BE VEYR VERY SURPRISED that I AM NOT OH-SO UNHAPPY & REGRETFUL, because I KNOW, if i LEARN ENOUGH, PRACTICE & FOCUS HARD, DO NOT QUIT, & eventually succeed in FX Trading, i KNOW & DAMN SURE that i can PAY My mom (I have treated the "LOSS" money as my UTANG to my Mom) in the Future & still earn more than what i loss. I turned this CRISIS into AN OPPORTUNITY, A MOTIVATION for me to STRIVE HARDER, DO better in Trading, & never quit UNTIL i SUCCEED.
I shared my story so beginning traders won't make the same mistake.

--Depending on your learning curve & available time (some trade part-time, have a job, etc), demo trade for 3-6months OR until you are confident enough to trade real money.

--FEAR & GREED are two sets of "crowds" that sometimes/many times frequent the markets. Let us take advantage of them & NOT BE part of them. Mahirap maging kabarkada si FEAR & GREED, delikado: it's either you LOSE A LOT or u PROFIT LESS because of fear/greed.

--Scared money never wins. AS MUCH AS POSSIBLE, Trade only with Money THAT U CAN Afford to LOSE. Don't trade w/ your daughter's College tuition fund, money for your mortgage, etc... Mahirap magtrade pag ang ginagamit mong pera ay pangkain mo or budget mo pala for the family for this/next month..   hihi

--Prepare yourself for LOSSES in the way. They are part of trading.Be sure to manage your losses. If u are having a string of trade losses, TAKE A BREAK. Avoid REVENGE TRADES -- trades wherein u try to "make BAWI" of your recent losses. hahahaha =)

--IF there's a will, there's a way
--Try  try until u succeed.
--Never QUIT. QUITTERS & WHINERS never win. SUCCESS is the only thing that awaits a person who never quits. Pano ka nga naman matatalo kung dka hihinto sa ginagawa mo??!

Bear these in mind, please, all those starting their own Forex journey & to those who are already on their way....  Applause
Title: Re: Newbie Trader Development Corner
Post by: ajik on Aug 21, 2008, 07:47 PM
It's always wise to learn from the experiences of others. Ika nga e, papunta pa lang kami, pabalik na kayo!

Maraming Salamat ferrariEverest for the re-post. I may not have gone through all the other threads. Matindi ang epekto ng Forex Trading sa emotions. hehe ;p

(disclaimer: Newbie experience post)

Earlier at 4:20pm (Manila) the GBP/USD had an outrageous one-time 18 pip increase! I was there at etoro practice account, earned me a lot! split seconds! I had an inkling already, followed that & closed the trade (etoro marathon by the way). It was a HIGH!

BUT the inexperienced myself invited the deceiver GREED. Within split seconds also after closing, fueled by GREED to grab a supposed opportunity (to make up for the past losses), frenziedly opened another trade (Ambilis ng reflexes ko!) only to find out, it was on its way down! in seconds, profits all gone.

What abnormally went up, abnormally went down as well.
1.) Bad reEntry (frenzied), 2.) lack of discipline (knowing when to stop & be satisfied), 3.) it was luck, but could've been reinforced by willful thinking! sayang. I was at a LOW for a few minutes.
It was a total downer.

I finally decided not to cry over spilled milk. Shook it off and stepped up. Guess I'm back to being small time (as if I had really been big time). Baby steps ulit ako. Which could be wiser in many ways.

I have only been Forex demo for 1 1/2 weeks. Im reading babypips, kinder pa lang ata ako. but i practice trade at the same time, read tips, and look at charts, take dips into the trade from time to time, nakakaadik e.

etoro dangerously makes it look like a video game. The interface is user-friendly esp for newbies like me. I want to read up first, learn & learn more before I officially use my IBFx Trader 4 demo account. I want to take practice accounts seriously, as if it were my own money, so I will not trade in reckless abandon (that would make it gambling, not trading). (Napansin ko din kasi, andami kong nasasayang sa market spread! asar! sa history tab pa naman ndi pinapakita yung losses due to spread).

Finally, From this profound experience of 4-5minutes, I learned a lot about myself. Practice pa lang yun ah, pano kaya kung tunay na pera na? The pressure will be entirely different, and probably, FEAR would pose as "bestfriend" this time. The practice is giving me a tempering experience on personal discipline (reading up, learning, having a strategy, hedging techniques, etc.), patience (self-control, ibang klase ang bugso ng damdamin), and good judgement (patterns, trends, entering & exiting).

NO plans of quitting sir. I like this already, kahit ba sabihin na 5% lang ang nagtatagumpay sa tunay na buhay. The meaning of success varies from person to person. Well, at the end of the day, you win some, you lose some, guess that's how life works. Forex seems chaotic, very unpredictable at times, but it doesn't mean it doesn't have a pattern from time to time, after all, your little 5-min to an hour trades are part of a bigger picture. There is a way then, to cut losses, to maximize profits and to win a lot. that's a nice thought.

Title: Re: Newbie Trader Development Corner
Post by: rael on Aug 23, 2008, 12:59 AM
@ajik, you're taking the lessons well... marami pa yan...

there will come a time that you'd think you've found the holy grail, that you can outsmart the market all the time, only to find yourself being humbled by it... again.

the question is, when you've reached the stage when you've found your style and a consistent system, do you still have the money to play this game or is your account blown? :watchuthink:
Title: Re: Newbie Trader Development Corner
Post by: Swingerswagger on Aug 25, 2008, 10:19 AM
Guys what I recommend if you are starting out forex is to open a micro account. The risks are a lot smaller coz 10pips is only equals 1 dollar. You can put big stops in all your positions and risking very little. You can trade a lot more lots on in if you want to simulate a mini account.  :boxing:
Title: Re: Newbie Trader Development Corner
Post by: ajik on Sep 13, 2008, 07:20 PM
@rael
Haha! matagal tagal pang practice to, sir! haha! Im still developing my system.
Until I learn and until I'm confident about what I know, I will not risk real money.

Natututo nakong gumamit ng indicators (IBFx has a lot, etoro doesn't have any so I look at the other & demo trade on the other haha!). Matatapos na din ako sa bebepips!
IBFx is also offering its IBFx University! Nice nice nice! haha!
It's still a looooong waaaaay to go. I will also have to invest time and money for seminars etc, and by practicing, Im investing time already. Matagal pa to.

@swingerswagger
tama, that's the beauty, me micro accounts, bast extra ingat padin dapat ako, mas mabilis ata maubos ang funds pag micro lots eh.. which brings me to this:

Sirs, Is there really such a thing as long term "investing" in forex? how's that? it moves so faaaast. What I mean is that, can I keep a trade open for weeks? I tried 24 hours but it was so erratic that even if it reaped positive profits at the end of 24 hours, mine reached my stop-loss around the 2nd hour on the descent. (No ride on the way up for me!)

So that gave me the idea that I have to go for bigger risks for bigger rewards. Baka mas kaya ko ang short term losses kung mas malaki ang margin. Tama po ba yun? haha!

Thanks experts!

Title: Re: Newbie Trader Development Corner
Post by: lonelyheart on Sep 15, 2008, 12:05 AM
I'm a newbee too. I've been trading only a month. My style is scalping, basta may profit na hindi ko na pinakakawalan. Once na ok na sakin profit I adjust my stop immediately then set my limit to 20pips kapag matutulog na ako para kahit paano may profit pagkagising ko.
Title: Re: Newbie Trader Development Corner
Post by: ferrariEverest on Sep 15, 2008, 10:44 PM
Quote
Is there really such a thing as long term "investing" in forex? how's that? it moves so faaaast.


syempre pwede rin yan sa forex... trades that lasts for days, weeks, months.
OO, mabilis ang forex, pero minsan depende rin yun sa TIMEFRAME. yung volatility sa 1-hour chart may only be a blip or small bar/candle sa 1-day or 1-week chart.



Quote
So that gave me the idea that I have to go for bigger risks for bigger rewards. Baka mas kaya ko ang short term losses kung mas malaki ang margin. Tama po ba yun? haha!

 bigger risks = bigger rewards? it's not always so. depende parin yan minsan sa trade na ite-take mo. there are trades na "small risk but big reward", meron ring "hi risk-hi reward" trades. Of course, depende rin yun sa risk tolerance mo, as well as sa definition mo ng "risk". for example, a risk of losing $500 per trade is small for someone, but HUGE for others.
Title: Re: Newbie Trader Development Corner
Post by: tsumekiri on Sep 20, 2008, 07:27 AM
Title: Re: Newbie Trader Development Corner
Post by: ribbit on Sep 20, 2008, 12:07 PM
tsumekiri,
practice, practice, read, practice, practice, read... so on. :D

dont use live accounts yet.  lot of free demo accounts out there. ;)
Title: Re: Newbie Trader Development Corner
Post by: suredollars on Sep 20, 2008, 09:18 PM
Title: Re: Newbie Trader Development Corner
Post by: gritzvon on Sep 21, 2008, 07:57 PM
Title: Re: Newbie Trader Development Corner
Post by: ajik on Sep 23, 2008, 08:58 PM
@ferrariEverest

That answers it all right! Yay! tama sir! Thanks. This past few days I guess have proven that. Sa tingin ko lang ndi ako ganoon ka pasensyoso kaya, ndi ko pa kayang magtagal na nakasalang. But its possible! haha!

& Capitalization also plays a big role, sir, siguro sagot na din to ke tsumekiri, kulang na kulang talaga ang $20 to start an account (teka super micro account ba yan? haha). Madalas sa experience ko sa demo, dati hirap na hirap nako makabawi pag andami nang losses at madalas nawawawalan na ng pagasa. I just wait for my margin call & then refill my demo account. tsk tsk tsk. pangit yun. Sometimes I feel so confident in my scalping (w/ the chart indicators & all) that I forget to follow my own rules, at yun, sira ang diskarte, nauuwi kasi sa revenge trades.

You have to have enough in your account to absorb the losses and eventually profit in the long run. Im no master here (but ferrariEverest is!), just sharing my newbie experience as well. Enjoy learning Forex!
Title: Re: Newbie Trader Development Corner
Post by: Swingerswagger on Oct 09, 2008, 12:22 PM
Fellow Traders,   :cool2:

I'm inviting all of you to check out my new blog: http://tradersblock.wordpress.com. It is where all of us traders can interact with one another.

For the active posters let me know if you want to be contributing posters in my blog.

I created this for all of us to have a home and discuss trading as a passion.

Please feel free to leave comments and PM me if you are interested also to make posts.

Thanks!

Swingger   :thankyou:
Title: Re: Newbie Trader Development Corner
Post by: mav3rick on Jan 24, 2009, 01:07 PM
@ tsumekiri

bro i congratulate you, not because your account was blown  :boxing: but because you took the courage to trade a none demo account. you see sir, the psychology of it is so much better than the demo y? because with demo there is no sense of loss...

but starting with a live account even if its really small, makes you get the real sense of lossing and winning. thats the great lesson there. im not discounting the fact about demo testing first. its really great for back testing, but you can only backtest so much... in the real world trading (unless you have ac-m as your broker that guarrantees no reqoutes ever even in adverse market conditions) you will enqounter reqoutes, server slowdowns, even slippage of your stops... my mentor had taught me never trust a demo... it teaches bad habits. like as ajik mentioned having a margin call and restart.

i first started forex as a intern for a local forex company. Spreads was amazingly high and plus a commission of $70 a lot. at the beggining of the training we were told you will  never a be a trader if you havent experienced margin calls. I had my first and last one, and I will never forget it, it cost my client to lose 300k php. I quit and asked myself if everything that i learned was all good. They were mostly wrong. true i learned support and resistance and fibonacci but the thing there is the psychology was whack...

thats when i decided to study on my own, and tried different brokers. blown 2 accounts already but its all good, the learning is there. its not much on blowing the account its the wisdom gain from it. so my point is...for all those still trading demos try opening a live account. even if its just $10 the point there is you know how to take care of that. its just adding zeroes at the back of it. if your not successful trading small you would never be successful trading big.

one thing also, the brain is really amazing...i didnt believe at first but its true....there is really such a thing as money psychology, or the amount of money your brain can handle... like for me, im really good in making my $100 into 1000 and upto $1500 but after that my brain goes haywire...the greed factor kicks in and im not able to trade objectively. thats when i know if its time to call it quits...

happy trading everyone
Title: Re: Newbie Trader Development Corner
Post by: jeffsmith on Jan 24, 2009, 02:33 PM
My friend once told me that you could not get success in trading if you do not loose in this market. The reason behind telling this sentence was that once you loose you try to get that lost money back and make trades which give you profits.
Title: Re: Newbie Trader Development Corner
Post by: ajik on Jan 24, 2009, 03:47 PM
@mav3rick, Great input sir! Thanks for sharing the experience & some thoughts such as this one:

...one thing also, the brain is really amazing...i didnt believe at first but its true....there is really such a thing as money psychology, or the amount of money your brain can handle... like for me, im really good in making my $100 into 1000 and upto $1500 but after that my brain goes haywire...the greed factor kicks in and im not able to trade objectively. thats when i know if its time to call it quits...

Can you pls expound on: "the amount of money your brain can handle... like for me, im really good in making my $100 into 1000 and upto $1500 but after that my brain goes haywire..."

depending on the strength of upward or downward trends (if indeed there is one), most of the time, on a 200x leverage, I'm ususally comfortable with a TP @ say, $500-$600(+spread). Sometimes on a strong trend @ $1000+spread (note: etoro demo account) w/c is about +60-70% of the amount ($1500). This is really interesting. Is there anything you do to train the mind for higher stakes? or should I? (but why not?)

I have a very small live account (which I almost burned just recently, with the sinking Sterling), but I take my demo accounts seriously, that I'm proud to have made up for my learning losses then. I had been down to -$14k, been up to +$17k (A holy grail moment for me!), but now back down @ +$6k (I'm fondly guessing it was partly due to the meltdown. haha, Central Banks kept changing interest rates back then! but that's just silly me, It was humbling.)

I'm really struggling with money management, especially with my live account. Any tips on money psychology?

You see, my biggest losses back then were because of trying to predict the bottom of a downtrend and ended up cost averaging. Sometimes it worked, sometimes it didn't (when I'm quite oblivious to the trend and stubborn at that). Any assessment? haha! thanks sir! & to the others, Keep up the good training & learning!

@jeffsmith, sir, I keep on imagining you like a wandering monk with wise words on your lunchbox! Thanks for sharing the passion! If you have anything for me in there, pls, open fire! many thanks in advance!
Title: Re: Newbie Trader Development Corner
Post by: mav3rick on Jan 25, 2009, 01:28 PM

@mav3rick, Great input sir! Thanks for sharing the experience & some thoughts such as this one:

Can you pls expound on: "the amount of money your brain can handle... like for me, im really good in making my $100 into 1000 and upto $1500 but after that my brain goes haywire..."

depending on the strength of upward or downward trends (if indeed there is one), most of the time, on a 200x leverage, I'm ususally comfortable with a TP @ say, $500-$600(+spread). Sometimes on a strong trend @ $1000+spread (note: etoro demo account) w/c is about +60-70% of the amount ($1500). This is really interesting. Is there anything you do to train the mind for higher stakes? or should I? (but why not?)

I have a very small live account (which I almost burned just recently, with the sinking Sterling), but I take my demo accounts seriously, that I'm proud to have made up for my learning losses then. I had been down to -$14k, been up to +$17k (A holy grail moment for me!), but now back down @ +$6k (I'm fondly guessing it was partly due to the meltdown. haha, Central Banks kept changing interest rates back then! but that's just silly me, It was humbling.)

I'm really struggling with money management, especially with my live account. Any tips on money psychology?

You see, my biggest losses back then were because of trying to predict the bottom of a downtrend and ended up cost averaging. Sometimes it worked, sometimes it didn't (when I'm quite oblivious to the trend and stubborn at that). Any assessment? haha! thanks sir! & to the others, Keep up the good training & learning!

@jeffsmith, sir, I keep on imagining you like a wandering monk with wise words on your lunchbox! Thanks for sharing the passion! If you have anything for me in there, pls, open fire! many thanks in advance!


i think it has to do with comfort zones, for example you only have this certain limit of money that you are used to have any more than that the brain rejects it...(law of attraction). so what i do i withdrew the funds that i have gained and go back to a comfortable position. like if you are donald trump losing or making $1M is nothing but if it would be you and me it would be a really big impact.

my mentor told me that some people are blessed with a higher tolerance to money. never compare yourself with them, find yourself and you can be successful.... he went on to saying that, there is nothing more that i can teach, you have to teach yourself about yourself.

but let me just check though, i will try to demo test next week, because i only use 3000 as the start up balance, and i psych myself that i i dont have 3000 but rather 100, so i try to grow that 100 without putting into equation the rest of the 3000 (2900)... i will try to trade next week thinking that i have 3000 as the balance and i will try to grow it, see if it holds true...because i think it has something to do with the number of wins that i have rather than the actual money...

will post results tom....
Title: Re: Newbie Trader Development Corner
Post by: 092662 on Jan 25, 2009, 01:28 PM
Title: Re: Newbie Trader Development Corner
Post by: ajik on Jan 27, 2009, 02:42 PM
@mav, thanks sir, will be waiting for your rejoinder!
@092662, right on target sir! Many thanks for posting Rob Booker's insights on emo trading!
Title: Newbie Guide to Forex Trading
Post by: subconscious on Jul 06, 2010, 01:24 PM
Hi.  :D

After checking the other topics relating to forex here at PMT, wala talagang pang starter. Yung ZERO knowledge talaga na step by step on how to learn forex.

My goal this year is to learn Forex trading. This means I have 6 months to learn, tapos 2011 nako sasabak.

Meron bang something like 10 basic steps kung pano pwede simulan?

Example:
1. Visit www.something.com and study
2. attend the businessmaker's seminar
3. Buy forex books
4. etc..

Kasi meron tayong mga topic na Q and A.

Eto parang ganun din, pero yung mga marunong na paki lagay yung mga steps that a beginner must take to learn Forex.

Pwede din yung mga steps na ginawa nyo mismo para yun din ang susundin ko..  :D

Pag natuto po ako makakarma kayo (good karma ofcourse, tenfold yun)  :hihi:

Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: r.ann on Jul 06, 2010, 04:27 PM
dito ako ng start mag basa -> babypips.com

sigurado marami pa dyan kaya hintay sa mga experts.
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: Lightwind_99 on Jul 06, 2010, 07:50 PM
tama, basahin mo muna all about forex sa babypips. after that open a demo account and familiarize yourself using Metatrader. its gonna take time for you to get use to it but have patience. and one more thing disregard those advertisement using automated trading like Rita Lasker and etc coz those are hoaxes. happy studying!
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 07, 2010, 08:31 AM
r ann and lightwind.. thanks alot!!

ano ba yung pips? nakikita ko yan palagi pag forex yung usapan.. si aceplayerjon binabanggit din yan.. yan ba yung fund? i will keep this topic alive and will update everyone on the progress. nabasa ko na 24 hours pala pwede mag trade unlike stocks..

cge yung babypips muna.. pag tapos nako i'll ask you guys what's next..

PS: mashado ba matagal yung 6 months na aral before i start tapos learn the ropes at continous learning nalang while im actually doing it na? :thankyou:
Posted on: Jul 07, 2010, 07:23 AM
Wow! :D

Ayos yung babypips pre-school palang ako. It seems like I have a long way to go.. Mukang 6 months nga muna before "i get my feet wet.." Thank you po ulit!
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: SirYuri90 on Jul 07, 2010, 11:50 AM
subconscious, tama sila familiarize yourself first with the terms. Naalala ko noon hirap na hirap ako magets, Its like learning a new language. My opinion study support and resistance and trendlines very basic and simple nevertheless profitable. After mo magets, Then Practice. Go on demo first until you get the hang of it and atleast you've doubled or tripled your demo then after that you can start to decide if its time to go live. Now, if gusto mo mapabilis my advice is find a mentor to cut your learning curve and accelerate your progress..
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: Lightwind_99 on Jul 07, 2010, 05:57 PM

Hello, I have useful video for beginners. When you decide to use trading robot, you often don't know, how to install it. This video will teach you how to install robot in Meta Trader http://www.youtube.com/watch?v=rhQw2HbLaAA You may start an automated trading!


Its those Rita lasker Stupid auto trading again. If this EA was so successful, the whole Forex community would have been talking about it BUT NO!
I hate people who tries to teach beginners the wrong way of learning forex.

Subconscious and all forex newbies, i advice you to stay away from ads like this one, if it been good i would have recommend it but hell no...it's a sure ticket to wiping out your equity.
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 08, 2010, 08:04 AM
The funny thing is you warned me about it na tapos may nag post parin nung robot. Hindi ako mag aaral tapos iba yung magpapatakbo.  :D

SirYuri, can you be my mentor? :)

Mukang kulang yung 6 months na pag aral..
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: SirYuri90 on Jul 08, 2010, 10:08 AM

The funny thing is you warned me about it na tapos may nag post parin nung robot. Hindi ako mag aaral tapos iba yung magpapatakbo.  :D

SirYuri, can you be my mentor? :)

Mukang kulang yung 6 months na pag aral..



patay tayo dyan. hehe
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 08, 2010, 01:00 PM
 :applause:
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: ptcbuxz on Jul 08, 2010, 02:49 PM

hehehe, read and read ka po muna sa www.babypips.com

then after you graduated in school of pipsology with a degree of BACHELOR OF PIPSOLOGY,

then try to demo a virtual account as your real money,

recommended broker ==>> dukascopy and mbt trading  :hihi:

and then try to build a trading system that suits your personality!!!

Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 09, 2010, 05:51 AM
Yun nga po ang tanong ko yung pag gawa ng sariling system.. yun po ba yung threshold ko ng allowable losses ko per day at maximum earnings? Kasi i read here sa forez forum na hindi maganda pag greedy dahil baka yun ang maging downfall..

Question mga sir,

How do you set your financial goal sa forex? Pano po yung mentality? Parang "I have to earn ATLEAST $100 a day/ or lose only $50 max".. ganun po ba or may ibang mindset?

Kasi I know meron dito nag eearn more than 200k a month sa forex a, pero syempre meron din cguro syang mga months na talo or na hindi ganun kalaki yung kita nya..
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: Lightwind_99 on Jul 09, 2010, 11:17 AM
Subconscious, every trader has their style of trading. Yung iba may mga quota daily kung how much pips they wanted to earn and stopped kapag na reach na nila yun. meron din naman iba they trade as long as they see a good signal.

and its not likely most traders win all the time. ang trading sa forex hindi constant na parati panalo ka, i learned this the hard way, im sure ma-iintindihan mo yan kapag nag demo ka na. But dont be discouraged kasi this is the nature of forex.

trading is always 50/50 chance of winning and losing...some traders are successful coz they know proper timing when to enter the market and they have a good Money management system.

Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 12, 2010, 08:53 AM
3rd grade- fibonacci nako.  :D

by the way, si mark so din si business maker diba? mag eenroll din ako sa kanya pag graduate ko sa babypips..
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: leloup on Jul 12, 2010, 11:43 PM

3rd grade- fibonacci nako.  :D

by the way, si mark so din si business maker diba? mag eenroll din ako sa kanya pag graduate ko sa babypips..

Are you the same subconcious of pinoymma forum?
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 13, 2010, 06:05 AM
Jake, no thanks.

Leloup, nice seeing you hear!!! :D

Are you into forex? Baka pwede moko turuan.. Buntis si commander hindi nako pinapayagan lumaban may MMA fight pa naman sana ako ngayon August. Kaya ngayon wala nako training, ibang bagay nalang pagtutuunan ko nang pansin (forex).  :boxing:

Sorry medjo OT..
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: ptcbuxz on Jul 13, 2010, 02:08 PM

Subconscious, every trader has their style of trading. Yung iba may mga quota daily kung how much pips they wanted to earn and stopped kapag na reach na nila yun. meron din naman iba they trade as long as they see a good signal.

and its not likely most traders win all the time. ang trading sa forex hindi constant na parati panalo ka, i learned this the hard way, im sure ma-iintindihan mo yan kapag nag demo ka na. But dont be discouraged kasi this is the nature of forex.

trading is always 50/50 chance of winning and losing...some traders are successful coz they know proper timing when to enter the market and they have a good Money management system.





may tama ka!!  :applause:


cguro mas mganda n in pips ang target mo per day...


cguro mga 10-50 pips per day... mlaki na yan

ex: 1 standard lot = $100-500, 1 mini lot = $10-50, and 1 micro lot = $1-5

kahit 10 pips per day lang at consistent ka,, aba malaki na yan!!!


Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: leloup on Jul 13, 2010, 02:46 PM

Jake, no thanks.

Leloup, nice seeing you hear!!! :D

Are you into forex? Baka pwede moko turuan.. Buntis si commander hindi nako pinapayagan lumaban may MMA fight pa naman sana ako ngayon August. Kaya ngayon wala nako training, ibang bagay nalang pagtutuunan ko nang pansin (forex).  :boxing:

Sorry medjo OT..


Yup, started last year.  Talaga? Lie low din ako sa training ko sa Muay Thai.  They are right, start by studying the resources at Babypips.   Discipline lang naman ang trading.  Develop a trading system and stick to it.   Common problem ng newbies is system chasing.  Learned it the hard way. he he he
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 14, 2010, 06:08 AM
Yung "trading system" na yan ang hindi ko pa alam.. Nakakatuwa pala to, the more anxious I feel the more I want to learn. 6th grade palang ako.  :hihi:
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 15, 2010, 05:25 AM
Question,

Anung napapala nung mga spammer na nagpo promote ng robots? Care to answer Sir Lightwind? Kasi hindi namn nila ipagpipilitan kung walang benefit sa kanila diba.. Comission upon sign up?
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: Lightwind_99 on Jul 15, 2010, 08:22 PM
lintek talaga na spammer ito freerobot. ni-report ko na nga sa admin  :bahalaka:
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: ptcbuxz on Jul 15, 2010, 10:04 PM

Yung "trading system" na yan ang hindi ko pa alam.. Nakakatuwa pala to, the more anxious I feel the more I want to learn. 6th grade palang ako.  :hihi:



matututunan mo rin yan pag tuloy tloy ang pag-aaral mo sa babypips!!!

 :applause:
Posted on: Jul 15, 2010, 09:57 PM


oo nga pla, ito para madaling matutunan mo ang mt4 platform

video sya, but im not recommended their product and the broker its self, ok

http://www.ibfx.com/Platform/    << this is the link!!

happy learning!!
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: engrventz on Jul 16, 2010, 10:23 PM
Hi subconscious newbie also here  :D actually babypips pupil din ako.dami ko natututunan along the way kasi ako dati nung start din ako mga weeks from now gusto ko matutunan ko lahat in a wink pero hindi pala  :D tyaga lang talaga.also kelangan din pala i-consider yung power hours, london session, US session etc. kc malaking factor din ang oras if Im not mistaken. yun ung mga time na mabilis matalo at mabilis din manalo :D I am still learning from the guru's here...good luck sating lahat.
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: ferrariEverest on Jul 17, 2010, 12:29 AM
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: leloup on Jul 17, 2010, 04:38 PM
Subconscious, sir FerrariEverest is right.  Place heavy emphasis on money management.  

Actually, there's a valuable lesson in MMA (or at least in Muay thai and this is what I often teach the new fighters) that can be applied to trading:  "Protect Yourself!"  No capital, no trading, no life.  Learned it the hard way too. He he he.  
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: Synapse on Jul 18, 2010, 10:02 AM
pwede ka rin dito mag basa nga mga forex groups subconscious..

dito ako palagi www.piphut.com <--EUR/USD lang ang trades nya. and this guy is soo good.

yung iba naman eh nag subscribe sa mga signal providers. masyado nga lang mahal ang monthly fees pero the returns are great.
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: ebo_bro on Jul 18, 2010, 03:42 PM
Just curious, anyone tried yung e-book ng AvaFX about Fibonacci ratios and RSI? I'm planning to use it sa live account na gagawin ko pero sa Oanda ako mag o-open.

I used this strat on my demo account and it looks promising but I tweak it a little. I used two RSI (1 day and 3 hours) instead of one and for the past 20 trades wala pa akong lost except nung nawalan ako ng internet. By the time na nagkaroon ako ulit ng internet lugi na but may prediction was right. But like I said, demo account palang yun.

subconscious,
try opening a demo account sa Oanda since wala silang expiration while you study forex para ma-apply mo agad yung napag-aralan mo. On my experience kasi mas madali ko naintindihan yung forex nung nag open lang ako ng demo account.
Title: Re: Newbie Guide to Forex Trading (BeastMaster, FerrariEverest, etc HELP!!)
Post by: subconscious on Jul 19, 2010, 05:59 AM
Wow thanks sa mga advice. And yep, leloup already informed me about the london opening and such.. monday ako nakakapag aral medjo iba schedule ko ngayon. thanks ulit everybody! :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: donya_buding on Aug 03, 2010, 05:30 PM
hi. newbie here. super interested din ako na pasukin yung forex trading and i've already done my research na by reading babypips, forexfactory and piphut. question ko lang is wala naman ako masyadong malaking pera to invest in forex trading, so para po sa mga gurus here, what can you recommend na broker sa kagaya ko na gusto mag-try ng forex trading?

thanks so much sa mga magrereply...
Title: Re: Newbie Guide to Forex Trading
Post by: ebo_bro on Aug 05, 2010, 03:15 PM
Hi donya_buding,

I'm also new to forex, just started live trading this is my 2nd week but been using demo for 1 year na. I used Oanda as my broker dahil maliit lang ang spread nila sa Eur/usd which is 0.9 pips. So far wala naman ako problem sa kanila at OK ang live support nila.

I just can't recall kung ano minimum deposit nila. Kung gusto mo lang ma-try kung OK ang forex, use their demo account, wala syang time limit unlike others na 1 month lang binibigay at parehong-pareho nag live at demo nila.

Pag OK ka na sa demo saka ka lang mag live.
Title: Re: Newbie Guide to Forex Trading
Post by: stephen_star on Aug 05, 2010, 04:52 PM
Hi! I"m new here.Would be glad to get help about Forex System. :help:
Heard about http://clicks.aweber.com/y/ct/?l=NDy8Z&m=I_GkiJXSxTWeOp&b=FjM5DtBrLOn1KWduGTZB0g
Guys what do you think about it? Can it help me?
I red many reviews on different forums and they are the same different. Thanx for answering. I wanna hear all opinions.
And it was good idea to create a group of the begginers!!! :applause:
See you!
Title: Re: Newbie Guide to Forex Trading
Post by: donya_buding on Aug 05, 2010, 08:38 PM

Hi donya_buding,

I'm also new to forex, just started live trading this is my 2nd week but been using demo for 1 year na. I used Oanda as my broker dahil maliit lang ang spread nila sa Eur/usd which is 0.9 pips. So far wala naman ako problem sa kanila at OK ang live support nila.

I just can't recall kung ano minimum deposit nila. Kung gusto mo lang ma-try kung OK ang forex, use their demo account, wala syang time limit unlike others na 1 month lang binibigay at parehong-pareho nag live at demo nila.

Pag OK ka na sa demo saka ka lang mag live.


hi sir ebo_bro...thanks for the advise...i'll try yung demo account nila and let's see what will happen...

one question though, how much was your initial investment when you go "live" in forex trading para i can make some preparations on how much do i really need to put into my oanda account????

thanks po super sa patience sa pagsagot sa tanong ng isang newbie na kagaya ko...
Title: Re: Newbie Guide to Forex Trading
Post by: ebo_bro on Aug 06, 2010, 06:19 PM
I started with $1,235 some started with $200. There is no minimum deposit pala sa Oanda pero you have to consider the fees in funding your account and when withdrawing it(see http://www.pinoymoneytalk.com/forum/index.php?topic=28457.15 "how to fund Oanda" thread).

Ask ka lang kung may tanong ka.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 08, 2010, 12:34 PM

...

ok yung sabi ni ebo_bro, mag Oanda ka.
pero matanong muna kita, gano katagal ka nagresearch sa babypips, forexfactory and piphut?
it doesnt take months. it takes years of reading and practice. balewala ang binasa mo kung wala kang masyadong experience.

ipagpaliban mo muna ang pag open ng live account. i think this is a very good advice para sa mga Pinoys dahil bihira satin ang maykaya/mayaman at marunong sa negosyo &/or mataas ang financial literacy.
try mo maging consistently profitable for 6 - 12 months bago ka mag live trading.

i am a member of forexfactory.com, ako si supremeChaos dun. i highly recommend na magmember kayo dun. marami traders dun na pwedeng sumagot sa mga tanong nyo. we help newbies there, specially sa james16 thread. james16 thread -- highly recommended na thread na basahin ng newbies. marami kayo matututunan dun lalo na pag baguhan palang kayo.

o nga pala, wag nyo papansin yang mga nagEenglish dito. mga spammer yang mga yan. in short mga epal na manloloko yang mga yan. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: rael on Aug 09, 2010, 10:36 PM
good advice, @ferrari.

in fact, even if you had months of successful demo trading, then jump into live, the market will still teach a lot of lessons.

one of the most important lesson: the psychology between trading fake money and real money is going to be oceans apart. it WILL become stressful when you go live. so when you hear, "be patient... reflect on yourself...", don't take those as just sweet stuff. they're really really the essentials.
Title: Re: Newbie Guide to Forex Trading
Post by: tops5450 on Aug 10, 2010, 08:08 AM
Goodluck nalang sa mga newbies na tulad ko :cool2:
Title: Re: Newbie Guide to Forex Trading
Post by: IMAPIP on Sep 08, 2010, 01:29 AM
Would you like to learn FOREX? Contact me at imapip8@gmail.com.  Don't worry.  No commitment involved.
Title: Re: Newbie Guide to Forex Trading
Post by: alex888 on Sep 16, 2010, 07:56 AM
hello..  badly need your help specially sa experts. I've been trading forex for 3 years already. It's just so happen na yung live account ko to ODL has been acquired by FXCM. From experience, FXCM is a notoriously bad broker.  So now that I've found my new broker... I can't seem to fund my account. I went to BPI family and they seem to not know what to do... saying something like to transfer to another branch because of a lot of reasons. Before I use GE money bank for bank wiring from Philippines to brokers without any hassle but it has been acquired by Banco de Oro.

So... the question is what bank that allows bank wiring from a personal bank account to my IBFX broker?

Really appreciate your reply since I badly badly need to fund my account already.
Title: Re: Newbie Guide to Forex Trading
Post by: tops5450 on Sep 16, 2010, 10:01 PM
Thats quite strange :scratch:
Title: Re: Newbie Guide to Forex Trading
Post by: rael on Sep 17, 2010, 12:01 PM
@alex, try BPI (not BPI family).
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Sep 27, 2010, 11:53 PM
@ferrariEverest

question lang bro, pano ba tataas rank ko sa forexfactory para makapagpost sa mga thread?


tsaka how do i leave a message in your profile para makapagpasalamat sa links na binigay mo.

thanks
Title: Re: Newbie Guide to Forex Trading
Post by: kendimann on Oct 03, 2010, 02:10 PM
im currently reading the babypips site to at least gain some info with regard to forex trading. medyo info overload na kaya rest muna. question lang sa mga medyo may experience na, can you honestly get rich trading forex? i mean honestly?

forex seems, from what i hear hard as hell, and with very small returns.

i dont wanna sound rude or bullish in a way but i don't want to waste my time learning it if it's not worth it.  :bahalaka:

is it possible to earn at least a thousand pesos a day consistently? if it is, how long does it take for a trader to earn that amount and how much money does he need to invest to his broker to at least make the said amount?

btw, is it necessary to learn the candlestick trading? sumakit ulo ko dun  :D

which do you think is a much better approach? demo then read bypips, demo and read babypips or read the whole babypips then demo? what demo site do you recommend?

thanks

Title: Re: Newbie Guide to Forex Trading
Post by: SirYuri90 on Oct 04, 2010, 11:06 AM

im currently reading the babypips site to at least gain some info with regard to forex trading. medyo info overload na kaya rest muna. question lang sa mga medyo may experience na, can you honestly get rich trading forex? i mean honestly?

forex seems, from what i hear hard as hell, and with very small returns.

i dont wanna sound rude or bullish in a way but i don't want to waste my time learning it if it's not worth it.  :bahalaka:

is it possible to earn at least a thousand pesos a day consistently? if it is, how long does it take for a trader to earn that amount and how much money does he need to invest to his broker to at least make the said amount?


Yes its very possible. How long? well it depends really to the person. Just like in school there are those who excel and there are those who don't but if they keep at it they all graduate in due time. Its only a matter of time.

Quote

btw, is it necessary to learn the candlestick trading? sumakit ulo ko dun  :D

which do you think is a much better approach? demo then read bypips, demo and read babypips or read the whole babypips then demo? what demo site do you recommend?

thanks





Its better to read up first babypips to have a basic foundation of trading. And my tip if you ever want to pursue trading is whatever system you choose in your trading its important to be consistent. Consistency above all else. And for starters trade higher Timeframes such as H1 and above the higher the better because analysis becomes very easy and trading is less stressful.  
Title: Re: Newbie Guide to Forex Trading
Post by: Deepanshu on Oct 20, 2010, 11:03 AM
while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket?
Title: Re: Newbie Guide to Forex Trading
Post by: Pipinstinct on Oct 21, 2010, 03:21 AM
while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket?

I prefer manual trading. I have a strategy, I analyze my charts, set my pending orders then close terminal, check back later and see if TP or SL is hit. That's it. Stress-free trading, 1-5 minutes analysis then I'm off to take a nap.
Title: Re: Newbie Guide to Forex Trading
Post by: derishus on Oct 22, 2010, 05:45 PM
while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket?

Sure, it's nice to have an automated system so that it's less stressful and time-consuming. But be careful of those automated EA's or trade-bots that promise easy instant money because 99% of the time, those are scams. I'm still trying to learn the basics too and I'm reading about the different kinds of indicators on the BabyPips.com School (http://www.babypips.com/school) then I'll come up with my own trade system. Of course backtesting this system would help so that I can tweak the setting of the indicators to improve profitability.

Post Merge: 1287740853
which do you think is a much better approach? demo then read bypips, demo and read babypips or read the whole babypips then demo? what demo site do you recommend?

thanks

I went thru the entire Babypips school first before doing demo trading. That way, I know the basics about all the indicators and formations and it was easier for me to apply everything while demo-trading.
Title: Re: Newbie Guide to Forex Trading
Post by: easy2279 on Nov 03, 2010, 02:21 PM
I'm new here and really feels good to see a lot of pinoy forex trader, I've started a blog which features Successful Pinoy Forex Trader and other related forex articles from the web and my own inputs. check it out here http://www.pinoypips.com/ (http://www.pinoypips.com/)
I'm still looking for Pinoypipster, would appreciate if you can send me your profile, fx trading strategies and other relevant info about you and your fx adventures. It will be a great pleasure for me to have you featured in my site. You can send it here easy@pinoypips.com.
Title: Re: Newbie Guide to Forex Trading
Post by: easy2279 on Nov 12, 2010, 02:26 AM
Tomorrow, Nov. 13, I'll be attending easy-forex currency trading seminar.
Check it out here for more details http://moneymatterscircle.blogspot.com/2010/11/easy-forex-currency-trading-seminar.html (http://moneymatterscircle.blogspot.com/2010/11/easy-forex-currency-trading-seminar.html)
Title: Re: Newbie Guide to Forex Trading
Post by: winnie84 on Dec 01, 2010, 11:02 AM
i am a newbie too. Through this post, i get some ideas for my business, thanks, i love to trade forex. :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: boki on Dec 08, 2010, 11:41 AM
Mam Jollighe,

Try to read po sa babypips.com, dun lang ako nagsimula and also with the help of the angel :grin1: here in PMT nakapag live forex ako..


Sir Archangel,

Currently i'm on my 2nd month trading forex live although my broker is the infamous marketiva i find the interface very user friendly but i'm also eyeing at the MT4 platform that marketiva doesn't have. I also know programming PHP, VB6 and a little of C#, that's why i want to explore the possibilities of having an AI EA that i can create based on the strategy that i'm doing in manual trading. Sir are you currently using your own created EA system? Or you're still on the learning stage? Mas ok din siguro sir kung you can share few scripts here and what does that script do para other EA authors here can also share their thoughts.. I will try to open a demo account on those brokers that you've mentioned above and first familiarize myself on the interface of the MT4 then after that will look on the MT4 EA potentials.. Happy trading to all, may the PRO share their knowledge to the Newbie's and Wannabe's like us.. Thanks in advance...
Posted on: Jul 12, 2008, 12:38 PM
Naku mukhang based sa mga PRO's it's not yet advisable for me to go on Automated Trading, siguro nga i need to lessen my flaws first on Manual Trading before i put touch the world of automation, thanks sir Lightwind_99 sa inspiring and guiding words...

DSL Connection                       30SGD per Month
Electricity                               50SGD per Month
Views/Tips from the PRO's          PRICELESS


i register today at marketiva, pede ko kayu buzz sir? may mga itatanong lang po ako, thanks....
Title: Re: Newbie Guide to Forex Trading
Post by: turf on Dec 13, 2010, 04:04 PM
which platform dyou guys recommend?
Title: Re: Newbie Guide to Forex Trading
Post by: elmostreet on Dec 30, 2010, 09:24 AM
which platform dyou guys recommend?

I currently use FXTrade but the trading platform that I use for my analysis is the Meta Trader 4.
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Jan 19, 2011, 01:39 AM
^ bro anung broker yung gamit mo na MT4 na free?


Question po sa lahat
Sino po may alam na reliable na broker na MT4 na yung Charting ?
how much minimum nun?

Marketscope kasi gamit ko,

Thank you.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 20, 2011, 05:35 PM
^ All MT4 brokers offer the use of their demo platforms for free.

Oanda, I understand, now allows people to demo MT4 on their FXGame or practice account although not yet on the live FXTrade account. They also don't impose any minimum deposit requirement.

But if you're looking for brokers that offer hedging or high leverage, look at those that are non-US based (UK, Australia, Cyprus, etc.)

You might want to visit Forex Factory or ForexPeaceArmy for reviews/feedback on brokers that use MT4.

Title: Re: Newbie Guide to Forex Trading
Post by: frasier_ves on Jan 26, 2011, 04:13 PM
Free Download of Meta Trader 4 here -> http://www.mibd-gold.com/Lang/en/index.html (http://www.mibd-gold.com/Lang/en/index.html)

By the way, FYI.. you can also trade gold through ForEx
(http://worldtradingonline.files.wordpress.com/2011/01/mt4.jpg?w=640&h=309)

(http://worldtradingonline.files.wordpress.com/2011/01/gold-chart.jpg?w=582&h=394)

Feel free to check out my blogsite - http://worldtradingonline.wordpress.com/professional-diligence/
 (http://worldtradingonline.wordpress.com/professional-diligence/)
Title: Re: Newbie Guide to Forex Trading
Post by: banson on Feb 02, 2011, 06:39 PM
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Title: Re: Newbie Guide to Forex Trading
Post by: Qatar2022 on Feb 15, 2011, 06:25 AM
nice to be here
Title: Re: Newbie Guide to Forex Trading
Post by: frankpure on Feb 16, 2011, 11:55 AM
it is important to read posts here and learn from other trader
Title: Re: Newbie Guide to Forex Trading
Post by: Karl_Pablo on Apr 18, 2011, 12:19 PM
matagal na bang thread na itO? it seems wala nang nag rereply nang mga posts...
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 25, 2011, 02:13 PM
which platform dyou guys recommend?
try Metatrader 4.
user friendly siya, IMHO

Post Merge: 1303712301
Karl,
if u got questions, post ka lang.
may mga sasagot naman kahit papano.
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Apr 29, 2011, 11:46 AM
karl, napuna ko din na it seems na walang continuity and thread na eto. what happened to all the enthusiasm? what happened to the early posters (2009) that started babypips education and opened-up demo accounts? if you guys are still in forex, kindly share your experiences.
forex trading will take one into a lot of ups and downs. the thing is, one has to always be resilient and tenacious about their resolved to do good in forex trading.
remember that it takes time to master one's trading style and system.
if those early posters got burned or lost substantial amount of forex trading funds, i think that at this point of time, you have learned one of the basic tenets of forex trading - never trade monies that you cannot afford to lose.
another rule: never risk on any one trade more than 2% of your account; and always place a stop-loss on all of your trades.
these are only a few of the many negative aspects of forex trading.
but don't get me wrong - forex trading, even of its very high risk of losing, one can still come out profitable. and don't be discouraged by this stats - 95% of forex traders lose; while only 5%, wins.
one's objective is to belong to that elite five per center winners; many have started right in studying how forex works through babypips, forexfactory, forexpedia and many other resources. the thing is to be consistent and resilient. if you give up now, you will never get to where you wanted to be. experience counts, even if you use trading robots, EAs (expert advisors) or other indicators.
once you have stayed that long (1-3 years) consistently in the forex world, you will be able to develop a simple trading style that will make money fr you.
i hope i have encouraged many potential forex traders.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on May 03, 2011, 02:39 PM
correct...

most important of all is consistency and discipline...

entries and exits, dami dyan pwede pagpilian...

discipline, ang hirap...
Title: Re: Newbie Guide to Forex Trading
Post by: harin on May 04, 2011, 12:40 PM
Hi guys, I'm currently exploring Forex.

I currently found www.babypips.com, they look like a good tutorial site for beginners.

I also shortlisted Oanda and FX Solutions Australia as brokers (low spreads, low minimum, no FIFO rule).

I also use metatrader as trading platform.

Playing virtual money at the moment.

Put up a Facebook page to record me journey:

http://www.facebook.com/pages/Forex-Investment/182838248433497 (http://www.facebook.com/pages/Forex-Investment/182838248433497)

Any traders here who are playing with actual money already? What is the lowest capital that that you would recommend?
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on May 06, 2011, 12:12 AM
Hi guys, I'm currently exploring Forex.

I currently found www.babypips.com, they look like a good tutorial site for beginners.

I also shortlisted Oanda and FX Solutions Australia as brokers (low spreads, low minimum, no FIFO rule).

I also use metatrader as trading platform.

Playing virtual money at the moment.

Put up a Facebook page to record me journey:

http://www.facebook.com/pages/Forex-Investment/182838248433497 (http://www.facebook.com/pages/Forex-Investment/182838248433497)

Any traders here who are playing with actual money already? What is the lowest capital that that you would recommend?
i understand your enthusiasm. i suggest that you devote a lot of time into forex education by reading beyond babypips. go into their forums: and find out about forex brokers reviews, expert advisors reviews and many forex trading styles.
open a demo account with oanda first and play with it; but, if you win after a month's demo trading, do not open a real account yet. your demo account may expire then but you can always open a new demo account. i suggest you experience some good losses. but don't brush aside such losing experience; analyze it and dig deep for the reason why you lost.
then search the internet for forex trading styles. learn the many tools for analyzing forex trading. however, do not use all these tools; create a simple trading style.
once you have a simple trading style using some of the analytical tools and advisors, test this on your demo account. if you consistently win all the way, there is something wrong with your system; because there is no perfect system out there.  but if your simple system does that, i suggest that you stop personal trading but instead market your system for thousands of dollars.
once you found out that you have more wins than losses, then and there you may open a real account. start with $1,000.00 (even if you have more than this amount). after one month, try to make a withdrawal of your profit (to test how fast your broker works on withdrawals). if your broker does not have an issue on withdrawing, then you can up your investment to $5,000; $10,000.
and remember: never risk more than 2% of your account on any trade.
hope this helps.
Title: Re: Newbie Guide to Forex Trading
Post by: PHrider on May 07, 2011, 02:29 AM
Oanda user here :) I use both fxtrade and MT4 platform in my live trading.

Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on May 07, 2011, 03:12 AM
Oanda user here :) I use both fxtrade and MT4 platform in my live trading.


is there an oanda physical office in the philippines? or, is oanda being represented by an IB (introducing broker) based in the philippines. i appreciate if you know and reply to this query.
Title: Re: Newbie Guide to Forex Trading
Post by: PHrider on May 07, 2011, 10:15 AM
^^ They dont have any office or IB in Philippines.

Based on my experience with Oanda's platform.

1. FXtrade - instant execution, good for scalping (my style of trading)
2. MT4 - good for charting but slower than fxtrade in order execution

so far wala pa namang requote and yung sudden spike maiiwasan naman, avoid mo lang ang mga important news para hindi ma-whipsaw.

ikaw anong broker ang gamit mo?
Title: Re: Newbie Guide to Forex Trading
Post by: Busquets on May 09, 2011, 03:04 PM
The first thing is to check out either you are good at this business or not.You can get a view from the seniors about either I am capable of doing Forex or not.Than moving on understanding the terminology and the
forex trading strategies before you begin is vital.Thats the most Important thing that you need to learn at beginner level.Do Invest small amount in start and keep on adding more If you succeed.
Title: Re: Newbie Guide to Forex Trading
Post by: Neill on May 14, 2011, 10:27 PM
It's highly important to work only with regulated brokers. first thing I"m checking is the broker Regulation and license. good regulations authorities are:
FSA
NFA
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on May 16, 2011, 05:46 AM
^^ They dont have any office or IB in Philippines.

Based on my experience with Oanda's platform.

1. FXtrade - instant execution, good for scalping (my style of trading)
2. MT4 - good for charting but slower than fxtrade in order execution

so far wala pa namang requote and yung sudden spike maiiwasan naman, avoid mo lang ang mga important news para hindi ma-whipsaw.

ikaw anong broker ang gamit mo?
thanks, PHrider. sorry for the delayed reply.

used to be with fxcm. i closed my account. "hedging" is not allowed anymore on all us-based brokers. fxcm wanted to transfer my account with their london-based branch but i prefer brokerage that i can "access" their offices in case of problems. i am based here in los angeles and was hoping if there is any pinas-based fx brokerage yet.

i am looking into fx etf; at least such is regulated here in the u.s. but am still in exploratory stage. in the meantime, i hope of gather some more experiences with fellow traders here as well as share mine. as we all know, fx learning process is dynamic and never-ending.

regards
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 07, 2011, 05:10 PM
newbie din ako sa totoo lang di effective sa akin ang pagbabasa ng mga libro tungkol sa forex.mas nakatulong sa akin ang online coaching.unlimited advice pa.

http://youtu.be/F-QRSyjgT9Y..forex orderflow.check this out my presentation posted in youtube.see you
Title: Re: Newbie Guide to Forex Trading
Post by: sacky on Jun 08, 2011, 05:06 PM
Hi

I'm new to forex and want to learn more, I have discovered this site "forex club asia" own by Mark So,

anybody heard about this site?
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 09, 2011, 12:54 AM
no never heard that.try these guys at facebook.com/quantme or forex quantme

Title: Re: Newbie Guide to Forex Trading
Post by: sacky on Jun 09, 2011, 12:29 PM
Hi

Here is the link of Forex Club Asia if you never heard about it.

http://www.forexclubasia.com/dap/a/?a=638&p=forexclubasia.com/starter-membership/

I have signed up their free account maganda naman ang video tutorial nila and their are also
part of Forex Club Manila, they have subscription but it's too expensive for me.


Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 09, 2011, 06:00 PM
I'm new to forex and want to learn more, I have discovered this site "forex club asia" own by Mark So,
Here is the link of Forex Club Asia if you never heard about it....
IMHO, overpriced yan. or at least not a necessity.
kung ok lang sayo bayaran ang isang bagay na pwede mo matutunan ng libre sa internet, then go for it.


magaral ka sa babypips.com tapos

forexfactory.com = free international forex forum
check mo yung thread ko dito called "Active trading discussion" for more info.
hope this helps!
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 09, 2011, 11:44 PM
@sacky nakita ko na yung site na sinabi mo sa akin. well advice ko sayo dont depend on video tutorial kasi ang video tutorial mga tips lang yan. pumunta ka sa mga site na free webinar. iyon nga ang ginagawa ko ngaun eh. ito ung facebook niya.

http://www.facebook.com/forexquantme.

para din mas easy yan ung coach ko..live yan.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 10, 2011, 12:24 AM
newbie din ako sa totoo lang di effective sa akin ang pagbabasa ng mga libro tungkol sa forex.mas nakatulong sa akin ang online coaching.unlimited advice pa.

http://youtu.be/F-QRSyjgT9Y..forex orderflow.check this out my presentation posted in youtube.see you
newbie ka pero mayroon kang presentation?
sige, ano ba ang OF trading? sabi mo nagpaturo ka na.
no never heard that.try these guys at facebook.com/quantme or forex quantme
@sacky... pumunta ka sa mga site na free webinar. iyon nga ang ginagawa ko ngaun eh. ito ung facebook niya.
http://www.facebook.com/forexquantme.

para din mas easy yan ung coach ko..live yan.
wala namang webinar dun or binanggit na free webinar/live coach a. unless u can point us to one.

sayo ba yung FB page?
are u trying to sell something? why not just say so?
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 10, 2011, 12:47 AM
newbie ka pero mayroon kang presentation?
sige, ano ba ang OF trading? sabi mo nagpaturo ka na.wala namang webinar dun or binanggit na free webinar/live coach a. unless u can point us to one.

sayo ba yung FB page?
are u trying to sell something? why not just say so?


di mo naintindihan ung sinulat ko? di po ako nagbebenta coz forex is not a product para ibenta na parang sa palengke..well hindi sa akin yang facebook na yan sa coach ko pero ako ang may hawak ng account na yan kasi jan ako kumukuha ng information sa kanya.kung gusto mo check my facebook. simplenganghel@hotmail.com or quant chix.salamat po
Title: Re: Newbie Guide to Forex Trading
Post by: sacky on Jun 10, 2011, 11:04 AM
Hi,

Thanks for the advice and information I'll check the site.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 10, 2011, 11:16 AM
di mo naintindihan ung sinulat ko? di po ako nagbebenta coz forex is not a product para ibenta na parang sa palengke...
it's either hindi ko naintindihan or malabo intindihin yung posts mo.
sabi mo newbie ka, pero may presentation ka
sabi mo may free webinar/live coach, pero wala naman nabanggit dun.
sabi mo hindi sayo yang FB account pero ikaw ang may hawak ng account na yan??!?!

saka FYI, maraming nagbebenta ng 'FX products na parang sa palengke'
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 10, 2011, 08:12 PM
I believe in this live coach guy and I"m helping refering clients to him because of a discount in my class any question sir?

Post Merge: 1307707996
i think sa laht ng napagaralan ko sa forex  masasagot ko na siguro mga tanong mo sa susunod
Title: Re: Newbie Guide to Forex Trading
Post by: golyat on Jun 10, 2011, 09:42 PM
@sacky nakita ko na yung site na sinabi mo sa akin. well advice ko sayo dont depend on video tutorial kasi ang video tutorial mga tips lang yan. pumunta ka sa mga site na free webinar. iyon nga ang ginagawa ko ngaun eh. ito ung facebook niya.

http://www.facebook.com/forexquantme.

para din mas easy yan ung coach ko..live yan.

hahaha! ang gulo mo! sino naman ang nakakaintindi sa website mo e islam ang nakasulat. nag-aaksaya ka lang ng pahanon ng iba.

alam ko na! ito pala ang ibinibenta nila

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Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 13, 2011, 12:50 AM
talk to fj youll get a good discount.
Title: Re: Newbie Guide to Forex Trading
Post by: luranski on Jun 15, 2011, 11:03 PM
I found this site called Forex Club Asia and it’s super cool! It’s actually why I’m sending you this quick message. I just joined yesterday and I’ve told all my dear friends about how to get in for FREE!, Sayang opportunity if you miss it, go here and check it out: 

http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/ (http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/)

Also, I attended their free seminar orientation yesterday and it is mind blowing!  Free seminar, materials, coffee and of course, free information and I learned a lot! Go check it out too! Another oppurtunity of learning and generating an income stream!

http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/ (http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/)
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Jun 22, 2011, 12:33 AM
sino sa inyo may tamang link sa pag register sa Oanda?
ano minimum deposit at leverage nya ?

thankssss

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 22, 2011, 07:51 AM
sino sa inyo may tamang link sa pag register sa Oanda?
ano minimum deposit at leverage nya ?
$1 yata minimum, 1:1 yata min. leverage

check their website
http://fxtrade.oanda.com/
Title: Re: Newbie Guide to Forex Trading
Post by: turf on Jun 23, 2011, 03:17 AM
Tama lang ba ang 33, 55 at 200 periods ng tatlong moving average na basehan?
Title: Re: Newbie Guide to Forex Trading
Post by: fbcwcpw101 on Jun 25, 2011, 01:32 AM
this guide is very helpful to us newbies..thanks to this
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 25, 2011, 10:55 PM
this guide is very helpful to us newbies..thanks to this

you can also check my daily recommendations on eurusd and gbpusd. Ive never missed a trade and im a newbie also.you can follow my thread

http://www.pinoymoneytalk.com/forum/index.php?topic=35792.msg364015#msg364015
Title: Re: Newbie Guide to Forex Trading
Post by: jerbersoftfx on Jun 27, 2011, 05:28 PM
@turf, depende yan sayo. pwede ka rin gumamit ng 7,20,65 SMA. but sa huli, moving averages are lagging indicators.

but anyway, try adding in MACD. so that it will make more sense. at least you have an indicator that measures momentum. as said by Boris Schlossberg, momentum precedes price, always trust momentum over price.

but well, after all, it is technical analysis but still every moment in the market is unique.

good luck trading!
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jun 29, 2011, 03:34 AM
@turf, depende yan sayo. pwede ka rin gumamit ng 7,20,65 SMA. but sa huli, moving averages are lagging indicators.

but anyway, try adding in MACD. so that it will make more sense. at least you have an indicator that measures momentum. as said by Boris Schlossberg, momentum precedes price, always trust momentum over price.

but well, after all, it is technical analysis but still every moment in the market is unique.

good luck trading!

hey thanks to you checking my thread i already answered ur replied.send me pm lets talk about the traders im making a proposals.
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Jul 01, 2011, 10:10 PM
Learning how to trade forex really depend on the type of individual. Some may really learn better through coaching while others can learn alone by simply reading and experimenting. Just choose the best course of learning forex where you enjoy the most.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Jul 01, 2011, 10:34 PM
Learning how to trade forex really depend on the type of individual. Some may really learn better through coaching while others can learn alone by simply reading and experimenting. Just choose the best course of learning forex where you enjoy the most.

absolutely right
Title: Re: Newbie Guide to Forex Trading
Post by: luranski on Aug 06, 2011, 08:45 PM
Learning how to trade forex really depend on the type of individual. Some may really learn better through coaching while others can learn alone by simply reading and experimenting. Just choose the best course of learning forex where you enjoy the most.

I found this site called Forex Club Asia and it’s super cool! It’s actually why I’m sending you this quick message. I just joined yesterday and I’ve told all my dear friends about how to get in for FREE!, Sayang opportunity if you miss it, go here and check it out: 

http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/ (http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/)

Also, I attended their free seminar orientation yesterday and it is mind blowing!  Free seminar, materials, coffee and of course, free information and I learned a lot! Go check it out too! Another oppurtunity of learning and generating an income stream!

http://www forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/ (http://www forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/)

Here is a preview on what you can get for FREE!

We were all beginners in Forex at one point, and we understand how incredibly exciting and at the same time very confusing this market could be. Which is why we  invite you to learn and trade Forex with us, a community of like minded people across Asia. If you are a complete beginner or have been at it for a few months but are still confused on how to trade the forex market, then the Starter Membership is absolutely for you.
Money Management Planning Form: “The Withdrawal Planner�

At Forex Club Asia, we value our hard earned profits a lot! So, we make it a point to “withdraw’ our profits as often as possible. With this form, you will have a step-by-step plan on how and when to “withdraw�  your profits. Withdrawing a small amount at a time but doing so frequently will add up over time. This form is truly a must have before you even embark on trading the forex market.

.

Money Management E-Book: “Mark’s 10 Mistakes to Avoid in Trading�

Meet Mark So, Forex Club Asia’s founder and Chief Forex Trainer. Being a forex trader since 1998, Mark will share in this short but powerful E-book, The 10 Mistakes to avoid in trading and his 10 Solid Rules to follow. These are golden nuggets of information that has been tried and tested not just by Mark but by the members of Forex Club Asia and Forex Club Manila (a subsidiary of Forex Club Asia). You simply can’t go wrong with this kind of information.

.

Online Video Access: Forex Basics: “Understanding What We Trade�

Continue the learning with Mark as he explains what the forex market is all about  in simple and easy to understand terms. Your trading education begins here as you will now be painlessly be introduced to the Forex Market. And like all our premium video’s they can be accessed anytime and anywhere  at your own pace and at your own time as long as you have internet connection.

.

Online Video Access: Forex Basics: “Understanding Currency Pairs�

The 2nd video in the Forex Basics series, Mark talks about how pricing is done in the Forex Market in a way that is so simple, it will blow your mind! This topic is a must understand if you want to get a handle on what and how money is transfered from one currency to another and what, as Forex traders can we do to capitalize on it.

.

Online Video Access: Forex Basics: “Understanding PIPs�

The 3rd video in the Forex Basics series, Mark will explain what PIPs are and their dollar value when we trade the forex market. Understanding this unit of measurement in Forex is crucial to understanding how you are doing.

.

Online Video Access: Forex Basics: “Understanding Leverage, Lots & Margin�

The 4th video in the Forex Basics series, here you will understand what the Forex Market has to offer you in terms of the money that you trade with, the multiplier effect of leverage, the lucrativeness and dangers of leverage. Also, this is where you understand that it doesn’t really take a lot of capital to trade the Forex Market.

.

Online Video Access: How To Navigate the Trading Platform (FXCM / FX Solutions)

Finally, after you get all the basics down, you will now try out what you have learned by opening a FREE practice account with either FXCM or FX Solutions and a step by step video on how to navigate these platforms. Following the guides here will immediately get you to understand what you are doing and get you started on your exciting Forex career!

 Risk Warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with forex trading, and seek advice from an independent financial advisor if you have any doubts.

Join now For Free!!!

http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/ (http://www.forexclubasia.com/dap/a/?a=700&p=forexclubasia.com/starter-membership/)
Title: Re: Newbie Guide to Forex Trading
Post by: elmostreet on Aug 07, 2011, 09:25 AM
^^
I visited the website and tried to sign up and read a few details and it's quite good for starters only.
Title: Re: Newbie Guide to Forex Trading
Post by: luranski on Aug 13, 2011, 09:37 PM
yup... for starters like me sir. =)
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 29, 2011, 03:15 AM
Learning how to trade forex really depend on the type of individual. Some may really learn better through coaching while others can learn alone by simply reading and experimenting. Just choose the best course of learning forex where you enjoy the most.

id rather choose to have a coach than reading and experimenting..i want one on one coaching so no mistake after.
Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Aug 29, 2011, 06:55 AM
a coach is good but you can't depend on them in the long run, ultimately its gonna be you and you alone and the market....and expect mistakes in trading, it cannot be avoided even with the best tutelage.
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Aug 29, 2011, 07:12 AM
a coach is good but you can't depend on them in the long run, ultimately its gonna be you and you alone and the market....and expect mistakes in trading, it cannot be avoided even with the best tutelage.


This is true based on experience, i'm a member of the club they are referring to after learning the basics.. your on your own, experience is your Teacher here not anyone.

Aside from that every new lesson in a Coach has a fee which is somehow available in the internet for free  :harhar:
Title: Re: Newbie Guide to Forex Trading
Post by: ric_TNT on Aug 29, 2011, 07:13 AM
a coach is good but you can't depend on them in the long run, ultimately its gonna be you and you alone and the market....and expect mistakes in trading, it cannot be avoided even with the best tutelage.

Very true!

Forex Trade is like gambling (objective is to win), but not everyone will be winners, it has to be complemented by lossers.

The idea is to develop your own skills/strategy/analysis using all available indicators and tools out there. It is a very tight arena and advise you to trade only what you can afford to loose. Otherwise, it would be very hard to recover especially when you become an emotional trader and could not think reasonably.

Anyway, things gets normally well once you grasp all the techniques. What goes up must come down, you can profit (or loose) if the price rise and/or fall.

IMHO lang po.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 29, 2011, 10:14 PM
a coach is good but you can't depend on them in the long run, ultimately its gonna be you and you alone and the market....and expect mistakes in trading, it cannot be avoided even with the best tutelage.

it depends of the coach..my coach will assist you 247 just pm him he will answer you right away.is just that his price of coaching is expensive.specially for asian traders.
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Aug 30, 2011, 08:12 AM
it depends of the coach..my coach will assist you 247 just pm him he will answer you right away.is just that his price of coaching is expensive.specially for asian traders.


how can you say that he will be available to you 24/7 ?  Does he sleep?

you can't consider yourself a Trader if you rely on your coach when trading.

In the long run if you rely on that coach you'll spend more than your earnings in forex.
Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Aug 30, 2011, 09:25 AM
Quantchix thats not coaching anymore. you might as well hire him as your personal trader. Beside a coach can never guarantee 100% success rate. You're coach would have been very rich by now if he were that "Good" in trading but still he has to work as one
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 30, 2011, 11:32 AM

how can you say that he will be available to you 24/7 ?  Does he sleep?

you can't consider yourself a Trader if you rely on your coach when trading.

In the long run if you rely on that coach you'll spend more than your earnings in forex.

why dont you try to his free trial service that will be held on sept 9?

yes i totally agree. 24/7 because of the time schedule  here compare to philippines.

i didnt say that you will be connected 24/7 to his coaching. what i am saying here. you can ask anything about forex anytime you want.

Post Merge: 1314675441
Quantchix thats not coaching anymore. you might as well hire him as your personal trader. Beside a coach can never guarantee 100% success rate. You're coach would have been very rich by now if he were that "Good" in trading but still he has to work as one

i dont agree..actually my coach is not selling like a product service.moreover he is helping us how to trade.. you can achieve 100% rate if you focus of one strategy rather than different strategy like others.been 1 year in trading world but im still using one strategy. im using other method and i cnt deny that.but i think orderflow is the best of the strategy ive ever had.
Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Aug 30, 2011, 12:54 PM
you have not answered my question...if he is that good in trading then why wont he make a full time trade instead of teaching? doesnt make any sense to teach and have coaching fee if his already adept with trading with his so called 100% rate. you mentioned that your coach is trying to help without fee, then why with the free trial? isnt it supposed to be free at the beginning? what comes next after free trial then? ---> fee?

remember even the best traders in history like Gann, ehlers and the rest will tell you there is no 100% success rate in trading. You're still a newbie, since you forgotten or perhaps still unknown to the fact that the market is "random" if its not then all of the traders in the world would have been wealthy.

Furthermore, do not assume anything 100%, that is as close to a kid wishing on an impossible dream, similarly like a trader finding that holy grail system.
The market is as is "unpredictable" by nature, we traders can only Speculate each and every move it makes and speculation as "I know" and as other "traders know" and soon you will understand when you're a novice trader that the ratio of speculation is 50/50.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 30, 2011, 01:56 PM
you have not answered my question...if he is that good in trading then why wont he make a full time trade instead of teaching? doesnt make any sense to teach and have coaching fee if his already adept with trading with his so called 100% rate. you mentioned that your coach is trying to help without fee, then why with the free trial? isnt it supposed to be free at the beginning? what comes next after free trial then? ---> fee?

remember even the best traders in history like Gann, ehlers and the rest will tell you there is no 100% success rate in trading. You're still a newbie, since you forgotten or perhaps still unknown to the fact that the market is "random" if its not then all of the traders in the world would have been wealthy.

Furthermore, do not assume anything 100%, that is as close to a kid wishing on an impossible dream, similarly like a trader finding that holy grail system.
The market is as is "unpredictable" by nature, we traders can only Speculate each and every move it makes and speculation as "I know" and as other "traders know" and soon you will understand when you're a novice trader that the ratio of speculation is 50/50.

i agree of what you said..i told you he is helping us how to trade and its up to you guys if you will try his service..he is trader, a coach and a teacher..im very proud of him..theres nothing wrong sir.if you will comply the way i trade.i showed here the recommendations the way we used his strategy and ican give you total independence..hes been 14 years and trading his method is rather simple and must for all traders. he provide you with structure of predictability .

yes i still considered myself as a newbie..try to check my other thread..daily recommendations eurusd and gbpusd.
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Aug 30, 2011, 02:40 PM
100%
why dont you try to his free trial service that will be held on sept 9?

yes i totally agree. 24/7 because of the time schedule  here compare to philippines.

i didnt say that you will be connected 24/7 to his coaching. what i am saying here. you can ask anything about forex anytime you want.

no thanks, i wont bother adopting a System, if the coach himself cannot offer his method for free.. just like what lightwind said, what comes next after free trial then? ---> fee

i like to say also that there is no 100% success rate in forex trading(yes the holygrail)... there will always be a losing trade and its inevitable.  we are all speculating here

Your chances of winning is having a good money management and huge amount of winning trades compared to losing trades, and that is your % of winning rate.


^ you still have not answered Lightwind post on the top..tsk tsk
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 30, 2011, 11:09 PM
its ok.i understand. its not for my own good weather its free or not...

i answered his question..yeah true after free trial its up to you guys if you will register his service.

im just helping you guys for free.i want to build filipino traders here in middle east.

Post Merge: 1314717242
but just in case pm me. yur welcome
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 30, 2011, 11:32 PM
Chix, must na.
matagal na ko d napadalaw dito sa PMT.
wala na ko balita. d mo parin ata nasasagot yung mga tanong ko dun sa threads mo.

tama si jdash, free temporarily, tapos may fee na.
in essence, u are not helping the new guys, because may motive ka, which is to sell your mentor's system.

isa pa, pano ka makakatulong sa iba kung very limited ang knowledge & experience mo sa trading.

diba 600euros yung charge nyo sa system nyo (if i remember correctly)? napakalaking halaga nyan,alam mo dapat yan dahil Pinoy ka.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Aug 31, 2011, 02:25 PM
just my opinion, getting a mentor during a trader's early stage would inhibit his maximum exposure (growth i'm not sure) as the trader would be seeing the market through the mentor's eyes...

remember, 2 people using the same system, one could end up profitable, the other a loser...point is, trading is a very individualistic endeavour...one's style should take into account one's personality (strengths and weaknesses)...

example, ung mentor mo matiyaga so iba time frame nya and entry methods nya...what if wala ka nun? di ka matyaga...di kau fit and u will fail bec u tried to adapt something that is not natural to u...

what if ung mentor mo mapusok, totally different timeframe and entry methods, what if di ka ganun? u will fail too for sure...

we all have different temperaments, ugali, psychological make up and there are a hundred and one ways to trade the market.  Ang challenge for us should be to find the right strategy for us.  How would find the right method for u if u will put urself under a mentor.

Personally, I have undergone a lot too.  I've been an indicator junkie, a price action trader, tried going fundamentals, elliot, Gann, point and figure charts, renko bars, OHLC bars...haha u name it i've tried it.  Pero lately ko lng nakukuha what is right for me.  Lately lng ako nagkakaroon ng peace of mind...

My advice to newbies, tignan nyo muna what is out there, try nyo lahat...then dig deep, analyze urself, and come up with ur own original style...Amen...haha
Title: Re: Newbie Guide to Forex Trading
Post by: jdash on Aug 31, 2011, 06:27 PM
may naalala ako sa post ni SAGAD hehe

I'd like to add, Forex Market is just Transfer of Account from losing party to winning party (bale if we win someone loses we are taking away their money hehehe) this is the way how i understand it now..correct me if im wrong hehe.


Quote
My advice to newbies, tignan nyo muna what is out there, try nyo lahat...then dig deep, analyze urself, and come up with ur own original style...Amen...haha

yes Tama kayo sir, try not to look only just one direction.. hanapin nyo yung fit sa lifestlye nyong System as long as its free.
Title: Re: Newbie Guide to Forex Trading
Post by: golyat on Aug 31, 2011, 08:20 PM
just my opinion, getting a mentor during a trader's early stage would inhibit his maximum exposure (growth i'm not sure) as the trader would be seeing the market through the mentor's eyes...

remember, 2 people using the same system, one could end up profitable, the other a loser...point is, trading is a very individualistic endeavour...one's style should take into account one's personality (strengths and weaknesses)...

example, ung mentor mo matiyaga so iba time frame nya and entry methods nya...what if wala ka nun? di ka matyaga...di kau fit and u will fail bec u tried to adapt something that is not natural to u...

what if ung mentor mo mapusok, totally different timeframe and entry methods, what if di ka ganun? u will fail too for sure...

we all have different temperaments, ugali, psychological make up and there are a hundred and one ways to trade the market.  Ang challenge for us should be to find the right strategy for us.  How would find the right method for u if u will put urself under a mentor.

Personally, I have undergone a lot too.  I've been an indicator junkie, a price action trader, tried going fundamentals, elliot, Gann, point and figure charts, renko bars, OHLC bars...haha u name it i've tried it.  Pero lately ko lng nakukuha what is right for me.  Lately lng ako nagkakaroon ng peace of mind...

My advice to newbies, tignan nyo muna what is out there, try nyo lahat...then dig deep, analyze urself, and come up with ur own original style...Amen...haha

SAGAD kindly share naman kung ano yong nakapagbigay sayo ng peace of mind mo hehe! Nais ko rin pagaralan if its the right strategy for me.:)

Post Merge: 1314793458
its ok.i understand. its not for my own good weather its free or not...

i answered his question..yeah true after free trial its up to you guys if you will register his service.

im just helping you guys for free.i want to build filipino traders here in middle east.

Post Merge: 1314717240
but just in case pm me. yur welcome

narinig nyo? sabi nya its FREE! kaya samantalahin natin ito.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 31, 2011, 09:32 PM
sir ferrari asan ka ba nagpunta?oo nga tgal mong di napadalaw dito sa pmt.

lagi ko namn nasasagot mga tanong mo eh.hindi ka lang nasasatisfied sa sagot koh.sabi ko nga sir ferrari for free ung class namin. and its up to them kong magreregister sila for unlimited registration..yes 600eur. at alm ko yan na hindi afford lahat ng mga pinoy ang price. kaya nga po nagbigay ako ng free class. para at least magkaroon sila ng ibang idea sa pagttrade nila.


Post Merge: 1314797700
just my opinion, getting a mentor during a trader's early stage would inhibit his maximum exposure (growth i'm not sure) as the trader would be seeing the market through the mentor's eyes...

remember, 2 people using the same system, one could end up profitable, the other a loser...point is, trading is a very individualistic endeavour...one's style should take into account one's personality (strengths and weaknesses)...

example, ung mentor mo matiyaga so iba time frame nya and entry methods nya...what if wala ka nun? di ka matyaga...di kau fit and u will fail bec u tried to adapt something that is not natural to u...

what if ung mentor mo mapusok, totally different timeframe and entry methods, what if di ka ganun? u will fail too for sure...

we all have different temperaments, ugali, psychological make up and there are a hundred and one ways to trade the market.  Ang challenge for us should be to find the right strategy for us.  How would find the right method for u if u will put urself under a mentor.

Personally, I have undergone a lot too.  I've been an indicator junkie, a price action trader, tried going fundamentals, elliot, Gann, point and figure charts, renko bars, OHLC bars...haha u name it i've tried it.  Pero lately ko lng nakukuha what is right for me.  Lately lng ako nagkakaroon ng peace of mind...

My advice to newbies, tignan nyo muna what is out there, try nyo lahat...then dig deep, analyze urself, and come up with ur own original style...Amen...haha

tama ka sagad na kailangan nyo tlagang tignan at itry ang bawat strategy ng bawat isa dahil para din sa ikabubuti ninyong lahat..

di ko sinabi na pag once na nag attend kayo sa free class obligado na kayong magregister..

Post Merge: 1314797750
SAGAD kindly share naman kung ano yong nakapagbigay sayo ng peace of mind mo hehe! Nais ko rin pagaralan if its the right strategy for me.:)

Post Merge: 1314793440
narinig nyo? sabi nya its FREE! kaya samantalahin natin ito.

pm mo lang ako sir golyat..welcome po kayo lahat for my free class
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Aug 31, 2011, 09:52 PM
may naalala ako sa post ni SAGAD hehe

I'd like to add, Forex Market is just Transfer of Account from losing party to winning party (bale if we win someone loses we are taking away their money hehehe) this is the way how i understand it now..correct me if im wrong hehe.


That's why they call it a zero-sum game... :applause:


Post Merge: 1314799001
Golyat,

As much as I want to, I cannot at this point...

Baka mas makasama pa cya right now...

It's a work in progress and I'm still in the process of refining it...

Until then...
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Aug 31, 2011, 10:09 PM
ok if your ready for new challenges of your trades..will wait you guys..
Title: Re: Newbie Guide to Forex Trading
Post by: elmostreet on Sep 02, 2011, 12:14 PM
^^
Ilan na ang nagregister sa class mo na member ng PMT?
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Sep 02, 2011, 02:03 PM
^^
Ilan na ang nagregister sa class mo na member ng PMT?

3 plang..
Title: Re: Newbie Guide to Forex Trading
Post by: elmostreet on Sep 02, 2011, 03:33 PM
^
Hindi na kasi active ang PMT ngayon hindi katulad noon na hindi pa gaanong sikat ang facebook.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Sep 04, 2011, 01:03 PM
oo nga napansin koh..kunti na lang ang nagoonline ngaun.kaya minsan madalng na rin akong magonline dito. nagoonlne ako kung may news lang ako sa forex and my class
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 05, 2011, 08:23 PM
^
Hindi na kasi active ang PMT ngayon hindi katulad noon na hindi pa gaanong sikat ang facebook.
hindi FB ang dahilan kung bakit konti lang nagpopost dito.
konti lang talaga traders sa buong mundo .mas lalong konti ang Pinoy traders.
mahirap ang trading, so onti lang talaga ang gagawa nito.



btw, gusto ko lang ishare ito
"I think the biggest thing that a person who is genuinely interested in giving value is up against, is that there is so much mis-information that people are expecting to get 100% per month, or that it's easy, or just follow this or that system and its easy etc etc. I see the clickbank product launches, the same formula every time and it works dammit! People buy those things in droves. (I did hear the refund rates are through the roof and a lot of affiliates wont bother promoting forex products now, so that's good news!)

First, trading is B****DY HARD! It takes years to get comfortable with this crazy business. Second, most are underfunded with unrealistic expectations. If you have 10k and you are just wanting to slowly grow it faster than putting it in the bank then you can do that. If one is expecting to make a living, they are in for a very serious awakening.

If you told many mainstream investors that there's an investment that can get them 10% per month (120% a year) they would be suspicious because that would be considered high, and yet many people (new traders) in forex scoff at 10% like it's too low."
Title: Re: Newbie Guide to Forex Trading
Post by: ric_TNT on Sep 05, 2011, 10:20 PM
^
Hindi na kasi active ang PMT ngayon hindi katulad noon na hindi pa gaanong sikat ang facebook.

Ibig sabihin talagang kokonti lang ang financially literate sa mga Pinoy.

Sikat na noon pa man ang FB bago nagsimula ang PMT. Then biglang dumami ang sawsawero at sawsawera ng maraming nag offer ng HYIPs. Ng lumabas ang mga scammers marami ulit ang nag cool off.

Only the best survives! Yung iba hindi kaya ang stress makipaglaban sa ibat ibang financial arena.

At least, maraming matututunan ang mga newbies o guests na maglog-in dito sa forum.

Good luck everyone. May our guests and newbies be enlightened and be financially literate.
Title: Re: Newbie Guide to Forex Trading
Post by: naldcagape on Sep 05, 2011, 10:52 PM
Most people get lured to easy money making schemes simply because it's human nature. We've been programmed to react in a certain way and it's very difficult to re-program ourselves as a race. Individually yes but as a whole, unlikely.

That's why only a few people succeed financially. It's reserved only for those who stay in the game long enough to learn the real lessons.
Title: Re: Newbie Guide to Forex Trading
Post by: QuantChix on Sep 07, 2011, 03:40 AM
@ sir ferrari my free class po ako kami sa friday..umattend ka namn sa class para alm mo namn po ung system namin.kung may oras ka
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Sep 07, 2011, 10:34 AM
Most people get lured to easy money making schemes simply because it's human nature. We've been programmed to react in a certain way and it's very difficult to re-program ourselves as a race. Individually yes but as a whole, unlikely.

That's why only a few people succeed financially. It's reserved only for those who stay in the game long enough to learn the real lessons.
You are referring to being Greedy. Greed is actually the worst enemy of being a trader.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 08, 2011, 06:34 PM
You are referring to being Greedy. Greed is actually the worst enemy of being a trader.
actually mas malala yung lack of discipline.


by the way,
recently may thread sa ForexFactory tungkol sa LiteForex. ingat ingat
http://www.forexfactory.com/showthread.php?t=313217&page=4 (http://www.forexfactory.com/showthread.php?t=313217&page=4)
taga Malaysia yung may problema
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Sep 08, 2011, 07:36 PM
^
Did they suddenly turned scam? Gamit ko kasi sila dati kasi yung offer nila na lowest amount of deposit at yung available online payment processor nila noon. Anyway, buti na lang lumipat ako sa FXTrade.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 08, 2011, 07:52 PM
FXTrade = Oanda ibig mo sabihin?
well, dko alam experience yan nung isang client nila na Malaysian e.
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Sep 09, 2011, 03:41 PM
Yep FXTrade is previously known as Oanda.

Sa LiteForex, baka may hindi lang talaga pakaka-unawaan. Ganito kasi lagi and nangyayari kapag yung isang trader ay nawalan ng malaking halaga sa kanyang investment. Sinisisi nila ang kanilang broker which is in fact sila naman talaga ang syang may mali.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 09, 2011, 08:32 PM
anong ibig mo sabihing "previously known"?
diba Oanda parin naman pangalan ng company. FXTrade tawag dun sa trading platform nila.
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Sep 09, 2011, 09:58 PM
^
Mas kilala na kasi sila sa pangalan na FXTrade.
Title: Re: Newbie Guide to Forex Trading
Post by: theNextBillionaire on Oct 26, 2011, 05:28 PM
is there a short course for forex trading? gusto ko sana mag-enroll. binasa ko yung babypips pero parang nahihirapan pa din ako intindihin. :))
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Oct 26, 2011, 05:56 PM
^ Sir,
madali na maintindihan yung nasa babypips (note: konti lang nabasa ko dun)
if u are having difficulty comprehending the info mula dun, i think it's possible u'll have a harder time pag nagseminar/course ka.
in other words, i think mas maappreciate nyo ang turo sa seminar kung naintindihan mo yung info sa babypips or may konting background ka na.

having said that, IMHO, d mo kailangan magseminar. at para sakin, overpriced yung ibang paid seminars dito saatin.

generally, sa umpisa talaga mahirap intindihin ang bagay na bago sa ating pandinig.

saka decide kung talagang serious ka sa trading. u have to commit at least 2 to 5 full years to it before u can expect to make serious & consistent money from it.
Title: Re: Newbie Guide to Forex Trading
Post by: theNextBillionaire on Oct 26, 2011, 06:08 PM
okay sir, basahin ko na lang at intindihin ko lahat yun. tapos balik ako dito pag may tanong ulit ako. :D
Title: Re: Newbie Guide to Forex Trading
Post by: freefront on Oct 26, 2011, 11:42 PM
Ang lakas ng kulam ni fE. Napansin ko tuloy na mabagal mag-load ang pmt.

BTW, this doesn't look like kindergarten. Parang third year high school sa akin ang dating. Maybe because i haven't connected yet? I tried reading the TA of forex (the other thread) and I nearly went to face my "Bang Your Head Here" wall.

It is too much to ask for somebody to try and connect the stock trading experience to forex trading, huh? Although, if I remember correctly, someone who is a forex trader tried to fish me out of my stocks pond.

Okay--- give me one book title to read.(The kind that the Japanese housewives read and now they can buy their own Louis Vuitton without their husband's salaries.) I'm not very good at reading texts on the compi. Besides, I've got lots of downtime by travelling these days. I don't feel secure bringing along gadgets.

Can you play favorite? Say, just stay with these three: Euro, UK pounds and USD?

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Oct 27, 2011, 08:46 AM
^ haha, malakas ba ang kulam charm ko? :)

if u are unfamiliar with Forex trading, i dont recommend u to start by reading threads here.
what book topic, in particular, do u want to read about?

as u know, i dont trade stocks (let me know if i get something wrong)... but basically,
a. stock markets always have gaps kasi hindi continuous ang trading;
forex is 24/5 or 24/7 (tourists exchange currencies any day; we can place forex trades during weekends pero it's unideal)... forex sometimes get gaps too
b. with stocks, u can't short-sell; with forex, u can buy & sell (& u can buy &sell simultaneously.. i.e. hedging... but this is now restricted to non-US brokers)
c. i think no one will argue with me when i say forex is more volatile (& probably more profitable to trade) than stocks
Title: Re: Newbie Guide to Forex Trading
Post by: freefront on Oct 27, 2011, 01:06 PM
Don't tell me, there is a "Complete Idiot's Guide to Forex Trading"! I need to start at basic terminology, etc.

Pero pag ganyan katakaw sa time, baka bibili na lang ako sa suking forex na kapitbahay. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: vicces on Oct 27, 2011, 04:48 PM
Don't tell me, there is a "Complete Idiot's Guide to Forex Trading"! I need to start at basic terminology, etc.

i think i have this, kaso in ebook format...

saka baka ayaw mo yun, kasi nilagyan ko ng gayuma/spell... loln
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 01, 2011, 07:13 AM
Don't tell me, there is a "Complete Idiot's Guide to Forex Trading"! I need to start at basic terminology, etc.
Pero pag ganyan katakaw sa time, baka bibili na lang ako sa suking forex na kapitbahay. :hihi:
yes of course! the 'Complete Idiot's Guide's' franchise is complete  :D
well, we usually devote much time on good/important things, right? :D (of course, we know most people waste precious time on irrelevant things too  :hihi: )

IIRC, u are into stocks na?
teka, mag isip ako ng libro na ok sayo. will be back
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Nov 01, 2011, 08:37 AM
ok ba yung libro na Bird watching in lion country
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 01, 2011, 09:04 AM
d ko sure kung may ebook ako nun, pero dkopa nabasa masyado.
parang tungkol ata sa grid trading yun.

try mo basahin (hanap ka free ebooks sa internet)
"Pring on Price Patterns"
(note: dko natapos basahin to, pero very familiar ako sa tinuro dito)

mag isip pa ko ibang recommended books para sa inyo.
dna kailangan gumastos or magseminar, ang internet ang inyong library at FREE online seminar/course :)
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Nov 01, 2011, 10:50 AM
ano yung grid trading??

mahanap nga yang Pring on Price Patterns :D
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 01, 2011, 12:35 PM
d ko alam yung grid trading e.
involved ata dito ang paggamit ng limit orders na ilalagay above/below current price.

dami ebooks sa internet. ingat lang sa virus, or walang laman na 'ebook'
Title: Re: Newbie Guide to Forex Trading
Post by: papito13 on Nov 01, 2011, 09:57 PM
thanks po sa thread na ito. nag hahanap din ako mga gantong threads para pede din tayo mga pinoy mkpag share ng mga ating exp tunkol sa forex trading at matulungan din mga baguhan

bago lng ako dito, at sana tuloy tuloy po ang thread na ito..
suggestion ko lng din po para sa mga gusto gawin career ang forex trading ay mag try muna ng mga demo accounts, at pag aralan ng ilan araw/linggo ang kalakaran ng online forex trading, mas mabilis kasi makuha mga basics, at tutal andito nmn ang thread na ito para maging guide sa lahat.

tunkol nmn sa mga books, pede din po mag basa ng mga ebooks or books about the forex market at iba'a ibang system na gingamit, ako kasi ang tipong sa actual nag babase kasi baka malito ako sa mga libro.. :) pero maganda un bilang reference.

 pero payo lng po sa mga newbies iwasan ang:
1. greed.
2.impatience.
3. over trading.
 dun po madalas bubagsak ang mga baguhan, pero once na nagamay nyo ito napaka ganda ng mga posibilidad na pede mangyari sa forex trading. :)

pede nyo itry ang demo account ng hotforex if you want.. medyo malapit tlga sa katutuhanan un kumpara sa ibang na try ko.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 02, 2011, 01:38 PM
^ whether demo/live, try to use the more reliable brokers.
magresearch.

somehow this saves you time kasi sa mga reliable brokers ka rin naman mag oopen ng account, sooner or (hopefully not) later.
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Nov 02, 2011, 04:05 PM
hmmm.. interesting ebook po yan ah. bosing, pwede po ba pahinge ng copy? :) maraming salamat po.
Title: Re: Newbie Guide to Forex Trading
Post by: ForexBoy on Nov 02, 2011, 07:17 PM
ano yung grid trading??


Trading strategy kung saan mag-se-setup ka ng multiple orders covering all possible range of the price. Kaya dapat malaki ang investment mo at proven applicable sa mga broker na hindi nag-chacharge ng over night interest.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 02, 2011, 07:43 PM
^ d naman kailangan na malaki ang investment or perang hawak mo.
pwede naman na maliit na position sizes lang bawat limit order.
Title: Re: Newbie Guide to Forex Trading
Post by: financiallyfree on Nov 03, 2011, 03:48 PM
hello po! :)

i've been trading stocks but would like to consider forex trading too. Is there a local forex broker in the Philippines? Suggestions pls?

All I can find are those who offer forex trading seminars, then they refer me to online forex brokers.

thanks in advance,
financiallyfree
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 03, 2011, 05:07 PM
hello financiallyfree
merong local pero all are SCAMS
open your account/s with reputable international brokers... u can do it online.

ideally, wag ka na mag attend ng local seminars dahil , IMHO, overpriced sila.

u can learn for free sa internet.
forexfactory.com is an int'l forum. member ako dun, mabait naman mga tao dun.
before u consider trading FX, i suggest u improve your knowledge &/or experience first. FX is more volatile than stocks.
Title: Re: Newbie Guide to Forex Trading
Post by: freefront on Nov 04, 2011, 06:40 AM
fE- Remember the retired Swiss commodities trader who is now a farm financier in Isabela? He visited yesterday. I got an earful about their new weather patterns, their own economic woes( he sold his apartment, got a mortgate for .25% (interest on savings becomes .025% daw), rented 4 apartments, fixed it up and rented it out to bankers. Then, credit suisse started lay-offs and the tenants would either leave or they had to reduce rent just so the apartments are occupied), how the socialist-democrat faction who wanted to join the EU started to disappear from their political scene, etc. Anyway, he got me nervous when he asked pointblank if we are keeping dollars. He said to sell it soon because it will drop big-time. To buy daw swissfrancs because that is the currency that will be the most steady all around.  Care to comment?
Title: Re: Newbie Guide to Forex Trading
Post by: freedompinoy on Nov 04, 2011, 11:52 AM
Tama si si ferrariEverest, u can learn free in the internet. 

Basics will help a lot, then experience will be your best teacher...

know the fundamentals and technicals of trading.  :-)
Title: Re: Newbie Guide to Forex Trading
Post by: financiallyfree on Nov 06, 2011, 04:35 PM
hello financiallyfree
merong local pero all are SCAMS
open your account/s with reputable international brokers... u can do it online.

ideally, wag ka na mag attend ng local seminars dahil , IMHO, overpriced sila.

u can learn for free sa internet.
forexfactory.com is an int'l forum. member ako dun, mabait naman mga tao dun.
before u consider trading FX, i suggest u improve your knowledge &/or experience first. FX is more volatile than stocks.


Hello ferrariEverest!

nice username :)

whoa scams! thanks for the heads up! I thought local brokers would be better since I can meet (?) them face-to-face. I'll keep your advice in mind and stay away from them :) thanks again!

and thanks for your tips re seminars and forums too :)
and yes...i hope to improve my knowledge first before actually trading forex. I learned my lesson the hard way in stock trading... this time i'll be more careful. I also hope i can use my knowledge in stocks technical analysis for forex too.

thanks for your kind reply and happy Sunday! :)

Post Merge: 1320568917
Tama si si ferrariEverest, u can learn free in the internet. 

Basics will help a lot, then experience will be your best teacher...

know the fundamentals and technicals of trading.  :-)


hello freedomPinoy!

thanks for the tips! :) this forum is very helpful coz of you guys, thanks for giving advice to newbies like me :)

i'm also a newbie in stock trading, but already learned hard lessons after being caught in whipsaws...
i'm keen on doing forex trading since i've been exchanging currencies for a long time now and i thought actual trading would help.

but this time i'm going to really study first before jumping in. andyou're right, experience will be the best teacher :)

thanks again!
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 06, 2011, 05:43 PM
fE- Remember the retired Swiss commodities trader who is now a farm financier in Isabela? He visited yesterday. I got an earful about their new weather patterns, their own economic woes( he sold his apartment, got a mortgate for .25% (interest on savings becomes .025% daw), rented 4 apartments, fixed it up and rented it out to bankers. Then, credit suisse started lay-offs and the tenants would either leave or they had to reduce rent just so the apartments are occupied), how the socialist-democrat faction who wanted to join the EU started to disappear from their political scene, etc. Anyway, he got me nervous when he asked pointblank if we are keeping dollars. He said to sell it soon because it will drop big-time. To buy daw swissfrancs because that is the currency that will be the most steady all around.  Care to comment?
yes i remember him.
may Credit suisse employees na nakatira malapit sa kanya?

i dont have foreign currency bank accounts now (but i trade them almost daily), so i havent thought about such stuff.
the main question for me, when placing your money in foreign currency, is TIMING (&/or holding period).

i think u will do good if u stay away from $.... or at least reduce your holdings.
swiss franc --- the Swiss central bank is trying to weaken the swiss franc so their exporters stay competitive.
Euro -- kung tingin mo Euro will survive sa current crisis, then this is a discount buy.
Australia & NZ $ --- possibly 2 of the best possible holdings.

Please note that hindi ito extensive analysis.... & that i am most likely commenting from a trader's point of view. it is very likely that u have a different personality, goals & risk profile.
(i am highly likely less experienced than you, but if u tell me about your current investment circumstance & plans here or thru PM, then i can probably share a more detailed insight).
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Nov 07, 2011, 01:26 AM
As of now .. babad muna ako sa Babypips.com

The time I finished the course .. Lahat ng tanong post ko dito :D hehehe!
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 07, 2011, 01:36 AM
ok lang yun Sir. basta wag mahihirap na tanong  :D
Title: Re: Newbie Guide to Forex Trading
Post by: Gilad on Nov 07, 2011, 11:08 AM
Mauna na po akong mag-tanong, ano po ba ang leverage?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 07, 2011, 09:17 PM
bago ko sagutin yan, pakisagot muna yung nauna kong tanong sayo.

3months ka pa lang sa forex o trading since 2006? magkaiba posts mo na nakita ko.

dont tell me kasabwat ka rin ng isang scammer dito.
Title: Re: Newbie Guide to Forex Trading
Post by: SRDC on Nov 07, 2011, 09:31 PM
Babypips.com is definitely a good place to start on newbies. We give this resource out to newbies too.  Also read up on some R. Kiyosaki and Mike Maloney for financial intelligence. They have some great youtube videos too.
Title: Re: Newbie Guide to Forex Trading
Post by: SRDC on Nov 09, 2011, 03:49 PM
If you're new to Forex, try looking at commodities also. A lot easier as major trends for commodities such as precious metals is up. As long as you have the right money management, it's comparatively easier than forex.
Title: Re: Newbie Guide to Forex Trading
Post by: tyronesolee on Nov 09, 2011, 06:50 PM
Isa ito sa mga gusto kong pag-aralan, FOREX trading. And gusto ko rin gumawa ng sariling article about this. From what I know, mas risky ito kaysa sa stock market trading.
Title: Re: Newbie Guide to Forex Trading
Post by: SRDC on Nov 10, 2011, 12:40 PM
Gilas, just saw your message now.  leverage is the amount or factor you're essentially borrowing from the bank to make your trades.  For example.  If I have 50 dollars on 1:100 leverage, you're borrowing 100 times the amount you have and you have 5000 dollars to trade with.  This is what lets you, for example gain 50 cents per every cent a currency/commodity increases.

This allows you to trade larger margins, and have higher gains but it's also a double edged sword if you're at a loss.  You're only borrowing the margin, not the actual money so your account will decrease by the same as well if your position turns into a loss.

Counteract this by purchasing smaller volumes (look for brokers who do this) which will essentially increase your integrity/money management so you can trade properly, if you're starting out with a small account.  Money management is key in trading so make sure to study this further.

Our community doesn't go into leverage much compared to integrity, which is the amount of pips you stand to lose/money management. Of course leverage plays a factor in this as well, when choosing your leverage, you factor that in with the lot size purchased to get your desired integrity.




Title: Re: Newbie Guide to Forex Trading
Post by: cjoy on Nov 11, 2011, 04:46 PM
Has anybody heard of Mark So?

How about the banner upstairs^?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 11, 2011, 05:19 PM
involve siya dati sa FreedomRocks, parang hedging system, ewan ko kung anong nangyari kasi nanahimik sila.
malamang eventually nagfail ang system kasi nga hindi madali maghedging.
para sa iba pointless ang hedging kasi nga buying & selling ang position mo (usually sabay).

http://www.pinoymoneytalk.com/forum/index.php?topic=9147.0 (http://www.pinoymoneytalk.com/forum/index.php?topic=9147.0)
parang spokesman/partner nya dito si MikeQC. in fact, gumawa pa sila ng PMT cooperative dito na built around FreedomRocks kasama ata sina rainmen (found to be a scammer eventually; please correct me about the details if im wrong).
yang PMT coop thread nila na-lock na dati pa ni Sir FutureGizmo.
ni-lock siguro nga kasi pumalpak. marami rin ata nag-invest dito nung time na yun (around 2008 yata yun)

another thing kay Mark So, may forex courses siya, he sells training videos, saka introducing broker ata siya for an int'l broker (FXCM & meron pa atang iba).
IMHO, mahal ang courses nya, specially since yung tinuturo nya ay LIBRE mo lang matututunan sa internet.

i still have copies of his emails offering yung FreedomRocks. around year 2006-2008 yata yun.

i found it weird na ginamit nya yung FreedomRocks.
baguhan lang ako sa forex trading, around 2005/06, pero alam ko ang limitation ng hedging. compared sa kanya na early 2000's forex trader na daw siya.
so posibleng conclusion dun is more into selling/marketing (a product) siya kesa trading talaga.
Title: Re: Newbie Guide to Forex Trading
Post by: cjoy on Nov 11, 2011, 06:16 PM
Thanks fE!
Title: Re: Newbie Guide to Forex Trading
Post by: cjoy on Nov 22, 2011, 07:37 AM
Isn't there an order by which you go into this ( ni hindi ko alam ang term), shall we call it ,moneywork? Parang you need to learn how banking works first, maybe bank products then mutual funds next. Tapos stocks, then go for the riskier ones like forex, etc.

More importantly, can you do both stocks and forex without going insane? Or do you have to choose a muse and be loyal to that one? Tao lang ang nagtatanong ha? Hindi super-duper-uber-gifted one :D
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 24, 2011, 10:09 PM
i think ang ibig mo sabihin ay kung may proseso ba?
nasa sayo na yan kung gusto mo muna daanan yung iba bago ka magforex.
pero, IMHO, i's not necessary.

IMHO, pag marunong ka na magtrade, pwede mo pagsabayin ang stocks & forex.
kumbaga sa kotse, iba ibang brand, pero lahat sila kotse. para sakin, ganun ang stocks & forex.
Title: Re: Newbie Guide to Forex Trading
Post by: rzc24arcel on Dec 01, 2011, 12:41 PM
Tanong ko rin yong tanong ni cjoy. May nakasubok na ba sa ikofx?

About Mark So, I just saw one thread sa Pinoy Exchange Forum about Forex Club Asia.
http://www.pinoyexchange.com/forums/showthread.php?t=537249

He is into affiliate marketing. Kung starter member ka (which is free), if someone signed up through your link for "trader membership," he will pay you $20. $100 kung "lifetime membership."

Meron siyang give away na "Money Management Withdrawal Planner" and ebook about "10 Mistakes to Avoid and Learn from Trading in Forex."

May available ding ebook sa Easy Forex. More than 100 pages nga lang. http://www.easy-forex.com/

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 01, 2011, 02:56 PM
Sir rzc,
trader ka rin pala?

wag nyo na subukan yang si Mark or ikofx.
basa na lang kayo sa internet -- LIBRE. forexfactory.com
babypips.com investopedia.com etc..

sa broker, dun kayo sa well regulated at reputable na brokers. para iwas problema, iwas daya, iwas stress.
iwasan nyo yung d kilalang brokers.
Title: Re: Newbie Guide to Forex Trading
Post by: rzc24arcel on Dec 01, 2011, 06:58 PM
Hi FE,  :D ok talaga tong Internet, daming financial options...sa trading, nag-aaral pa lang...nag start ako sa Motley Fool about stocks then eto exploring currency trading as part of my financial plan...paalis kasi ako this January.

Salamat sa paalala. Medyo hesitant nga ako kasi I am also checking yong site rank sa ranking.com, walang data yong forex club asia.  :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 01, 2011, 07:54 PM
regardless kung may mataas silang ranking... fact is, yung tinuturo nya relatively expensive courses nya ay LIBRE lang sa internet.

saka may history na sila na pumalpak (hanapin mo yung Freedom Rocks hedging thread dito). i still have Mark So's email sakin tungkol jan dati.
pinauso nila yan dito a few years ago. naka-lock na yang thread na yan.
gumawa pa ata sila ng fund/cooperative-type fund dito sa PMT. alamin mo kung nasan na yan pati yung mga posters/members dun ngayon... wala na sila, d na nagpopost dito. i'm quite sure marami nasunog pera jan.
Title: Re: Newbie Guide to Forex Trading
Post by: freefront on Dec 12, 2011, 08:42 PM
fE, yung ward ko na inutusan ko para magbasa dito, (This is me telling him off: Go to PMT forums/forex. Read up and mind ferrariEverest's post. Under no circumstances are you going to start trading until blah blah blah...), naglagay na lang doon sa PCI (forex derivative-sila pa lang daw meron dito but the operation is based in Sg) ng stanchart muna.

I already said NO to his mother (with bribery involved na yun), kaya he has to step up to the plate.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 13, 2011, 11:32 AM
aray ko. :D
better tell him: "mind his posts, but don't follow his ways" :D

i'll look PCI up, thanks for the info.
Title: Re: Newbie Guide to Forex Trading
Post by: freefront on Dec 13, 2011, 06:46 PM
^FF-Up: he cancelled the conversion bec. the AUD went past his target price. He still got USD 230 (they had 5.5% p.a. on the 2 week waiting for the first call) plus an IPAD2 VS Dust if he didn't do anything at all.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Dec 23, 2011, 11:31 AM
Tanong ko rin yong tanong ni cjoy. May nakasubok na ba sa ikofx?

About Mark So, I just saw one thread sa Pinoy Exchange Forum about Forex Club Asia.
http://www.pinoyexchange.com/forums/showthread.php?t=537249

He is into affiliate marketing. Kung starter member ka (which is free), if someone signed up through your link for "trader membership," he will pay you $20. $100 kung "lifetime membership."

Meron siyang give away na "Money Management Withdrawal Planner" and ebook about "10 Mistakes to Avoid and Learn from Trading in Forex."

May available ding ebook sa Easy Forex. More than 100 pages nga lang. http://www.easy-forex.com/



sabi nga nila..."Those who can't, teach..."
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 23, 2011, 12:58 PM
In all fairness, not all mentors (Mark So included) deserve a bad rap.

It's all a matter of choice: you can self-study or you can enroll in a course, if you have the means. Each option has its merits.

Of course, you still need to put in hours and hours of screen-time no matter which way you decide to go.
Title: Re: Newbie Guide to Forex Trading
Post by: papito13 on Dec 23, 2011, 11:00 PM
babypips.com forexfactory.com and many more, offer manyway of learning and improving forex trading, you are already paying to invest, don't pay to learn (just an opinion). another thing is, trading forex needs lots and tons of patients, and one way to be patient is to self study. :)

forex club asia is their new name diba? why change the name (hiding someting?)

konti na nga lng tayo mga forex traders na pinoy, gagamitin pa ba naten ang kapwa para pagkakitaan? :(
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Dec 29, 2011, 02:02 PM
mentoring is ok at the beginner stage since u need to learn the basics...

but there will come a time wherein u really need to look inside and be ur own trader, using ur own style, creating ur own system, backtesting ur own strategy...

nothing beats that...

and for all those who are in this forum just bec u think this is an easy-money, get-rich scheme...@#$#@$#$@$#@$#$^$^$E#$$$#@....haha
Title: Re: Newbie Guide to Forex Trading
Post by: dumbo_dawg on Dec 29, 2011, 04:41 PM
^agree ako dyan sir. i've read different threads in this forum, and it actually helped me take my first brief (and successful) experiment with stocks and trust funds...but forex? i can say na after reading and reading and acting this out in my head, di ko talaga siya magawang simulan. di ko pa rin makuha logic (kung meron man, well siguro meron if some folks are consistently earning). sa stocks kahit magulo and unpredictable, maiintindihan mo pa rin kahit pano. ibang animal itong forex hehe.

pero yes i agree, dito nga talaga pwede mangyari yung biglang milyonaryo in a day. this is really some scary shiz hehe, bilib ako sa guts ng mga pumapasok dito.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 30, 2011, 02:29 PM
^ Sir
u'll realize, sooner or later, na halos pareho lang stocks sa forex.
speed/volatility lang ang main difference.
Title: Re: Newbie Guide to Forex Trading
Post by: dumbo_dawg on Dec 30, 2011, 03:48 PM
siguro nga sir FE, it's just harder for me to crack. kumbaga may extra layer of confusion covering the "stocks" aspect of this, or maybe it is the amplified speed/volatility that makes it seem more irrational?

i would LOVE to get my feet wet on forex and make a killing (or baka forex kills me hehe, 50-50 chance), my gut just tells me im not ready for this. basa-basa na lang muna ngayon for me.:)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 30, 2011, 03:57 PM
ok yan Sir basa basa muna para u can make a killing in the future.
pag nagmadali ka, i'm 1000% sure, sunog pera mo.
Title: Re: Newbie Guide to Forex Trading
Post by: gavinogaw on Jan 09, 2012, 10:53 AM
Hi,

Regarding Mark So, I think he is reputable as I have attended one of his seminars at forex trading. Yun nga lang, pwede mo na lahat matutunan sa babypips and forexfactory lahat ng kailangan mo sa forex. No need to shell out money for the seminars. Kung mentoring naman, anjan na si Sir FE. Hehehe...  :D
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 09, 2012, 03:19 PM
^ basically, pareho tayo ng sinabi kung mababasa mo yung post ko sa itaas... hindi praktikal i-take up yung paid fx seminars/videos nya.

i believe he is a reputable business man. (he runs a business ---mga short courses).
pero, as a trader, hindi ko alam.

kung mentoring. aba hindi ako magaling. saka hindi ako magaling na teacher, maikli kasi pasensya ko. :D
pero pwede mo ko tanungin tungkol sa charts/TA, basta wag yung mahihirap na tanong ha :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 11, 2012, 09:41 AM
Hi,

Regarding Mark So, I think he is reputable as I have attended one of his seminars at forex trading. Yun nga lang, pwede mo na lahat matutunan sa babypips and forexfactory lahat ng kailangan mo sa forex. No need to shell out money for the seminars. Kung mentoring naman, anjan na si Sir FE. Hehehe...  :D

Actually, it's just like Teaching in schools...Teachers don't necessarily need to have experience or in his case "success" to be able to teach...Buy a lot of books, browse thru forums, research on stuff that has forex in it, you will be knowledgeable in everything about forex except "the real deal". As they say "experience is the best teacher!"

Nothing wrong with going to his seminars if the price is right and if it something new that no one else knows about.

Walang manloloko kung walang magpapaloko..
Title: Re: Newbie Guide to Forex Trading
Post by: BFXGeneralConsultant on Jan 11, 2012, 01:17 PM
^

Good Advice.. Thanks


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: Micalibs on Jan 15, 2012, 09:39 PM
Very imformative po ang mga nabasa ko sa forum na ito. Newbie lang po ako at nagbabasa para matuto sa fx trading. Gusto ko pong i-roll ang maliit kong puhunan habang nasa abroad ako.
Tanong lang po, ano pong fx trading company pwede nyong irecommend sa akin na mamomonitor ko online palagi? Thanks po
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 16, 2012, 08:15 AM
^Hi. Even if you intend to have someone else trade for you (that is, invest in a managed forex account), it would be prudent to understand how the whole thing works. For this, go to babypips.com.

Because of the risk involved, only invest money you can afford to lose.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 16, 2012, 09:35 AM
Very imformative po ang mga nabasa ko sa forum na ito. Newbie lang po ako at nagbabasa para matuto sa fx trading. Gusto ko pong i-roll ang maliit kong puhunan habang nasa abroad ako.
Tanong lang po, ano pong fx trading company pwede nyong irecommend sa akin na mamomonitor ko online palagi? Thanks po

If nasa abroad ka, first choice would be looking for a local company, within your country of residence. 2nd would be preferred brokers suitable to your needs.

Post Merge: 1326677910
"Because of the risk involved, only invest money you can afford to lose."

Bat ba laging may ganto?
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 16, 2012, 09:45 AM
bec of the nature of this business...that's why...

"Because of the risk involved, only invest money you can afford to lose."...nothing can be more true...
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 16, 2012, 10:17 AM
@jmiyake: Alam mo naman ang sagot, di ba? Wala namang guarantees sa trading, kahit stocks pa 'yan, commodities, forex.

 Kung tutuusin, kahit ano'ng klaseng business. On second thought, make that life in general. :-)
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 16, 2012, 01:37 PM
@jmiyake: Alam mo naman ang sagot, di ba? Wala namang guarantees sa trading, kahit stocks pa 'yan, commodities, forex.

 Kung tutuusin, kahit ano'ng klaseng business. On second thought, make that life in general. :-)
bec of the nature of this business...that's why...

"Because of the risk involved, only invest money you can afford to lose."...nothing can be more true...

With Investments comes risks, it is a given...A much positive attitude would be invest soundly, make a profit...don't waste time if you expect yourself to lose in the end...

Be positive!!!
Title: Re: Newbie Guide to Forex Trading
Post by: BFXGeneralConsultant on Jan 16, 2012, 01:43 PM


If you can TRUST your strategy.. the risk is minimal or negligible...



No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: mateo on Jan 16, 2012, 02:36 PM
I a
With Investments comes risks, it is a given...A much positive attitude would be invest soundly, make a profit...don't waste time if you expect yourself to lose in the end...

Be positive!!!
I agree sir...prosperity always start from positive thinking, not only in business, but also i
n other aspects of life..
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 16, 2012, 02:56 PM
With Investments comes risks, it is a given...A much positive attitude would be invest soundly, make a profit...don't waste time if you expect yourself to lose in the end...

easier said than done...to make a sound investment, if it was that easy we'd be all rich

only a fool would waste his time on a venture with negative expectancy don't u think? :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 16, 2012, 03:39 PM
Nothing wrong with going to his seminars if the price is right and if it something new that no one else knows about.
yun nga problema e.
the price is not right --- libo libo kumpara sa libre sa internet.
ano pong fx trading company pwede nyong irecommend sa akin na mamomonitor ko online palagi?
lahat Sir ng online brokers pwede nyo mamomintor lagi ang account nyo sa kanila.

Bat ba laging may ganto?
because it is highly sensible to warn new people.
d naman lahat may alam sa bawat bagay.
nung nag-umpisa ako sa trading, wala rin ako alam. kaya tama lang na balaan natin ang mga new traders.

With Investments comes risks, it is a given
it is not for most people.
Quote
don't waste time if you expect yourself to lose in the end...
how would u know that sa umpisa pa lang??
in general, hindi mo malalaman kung d mo susubukan.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 16, 2012, 08:03 PM
easier said than done...to make a sound investment, if it was that easy we'd be all rich

only a fool would waste his time on a venture with negative expectancy don't u think? :hihi:


It is not easy, and hindi naman to be rich ang goals ng mga nag iinvest. Almost all for sustenance. Yung mga nag "sari-sari" store hindi sila humahangad na maging milyonaryo but for them to survive daily...

Post Merge: 1326759169
Some helpful tips for would be FX traders,

1.) Information is free, "just GOOGLE it". or ask around in forums.

2.) In choosing brokers/retailers. Accountability is your first concern.

Title: Re: Newbie Guide to Forex Trading
Post by: japyness on Jan 21, 2012, 12:02 PM
guys ask ko lng what sched ng forex sa phillipines? what time open pag monday and what time close pag friday?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 21, 2012, 12:14 PM
bukas ang forex market daily.

ang alam ko sa New Zealand nag-uumpisa ang isang trading day. then yung mga kasunod nyang bansa, going from east to west (Asia.....- Europe -- then Americas)

in short, bago ka pa gumising, 'bukas' na ang forex market. :D
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 21, 2012, 12:22 PM
guys ask ko lng what sched ng forex sa phillipines? what time open pag monday and what time close pag friday?

there is no "philippine market", just the major markets (New york, London, Tokyo, etc...)
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 22, 2012, 08:58 AM
bukas cya from 5am ng umaga hanggang 5am ng umaga :D

in short, para cyang 7-11...
Title: Re: Newbie Guide to Forex Trading
Post by: agliuz31 on Jan 23, 2012, 09:51 AM
guys tanong lang. pano nyu nalagyan ng funds ang account nyo?
wala kasi akong EON account. much better sana kung may way for BDO or BPI account.
Please advise

Thanks guys!
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 23, 2012, 10:44 AM
Sir,
alin broker nyo?
kung sa bangko
pwede via bank wire.
or credit card

Paypal connected to your credit card or bank account pwede rin

check mo muna sa website ng broker mo kung ano mga accepted deposit & withdrawal methods nila
Title: Re: Newbie Guide to Forex Trading
Post by: agliuz31 on Jan 23, 2012, 11:14 AM
@ Sir ferrari - wala pa akong broker sa ngaun.
babasa basa pa anung maganda at reliable.
kayu sir whats you recommendation and panu nyu nilalagyan ng fund yung acct nyu hehehe.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 23, 2012, 11:29 AM
yung mga binanggit ko Sir, nasubukan ko na yun lahat.
pinaka convenient at mabilis ang deposit via credit card &/or Paypal kasi online lang sya.

subukan mo/pili ka sa:
Oanda, MBT, Dukascopy, FXPro, Alpari, GoMarkets.
demo ka muna sa kanila, Sir.
mas kabisado ko Oanda, ok na mag-demo ka dun.
Title: Re: Newbie Guide to Forex Trading
Post by: BFXGeneralConsultant on Jan 23, 2012, 04:58 PM
guys ask ko lng what sched ng forex sa phillipines? what time open pag monday and what time close pag friday?

Some Forex Broker opens at Monday 6am Philippine Standard Time and closes at Saturday 6am Philippine Standard Time...

Respectfully yours,
BFXGeneralConsultant
Title: Re: Newbie Guide to Forex Trading
Post by: agliuz31 on Jan 24, 2012, 09:43 AM
Sir Ferrari, na try ko mag demo sa oanda mukhang ok naman. user friendly yung application. now im planning to create my account with them...

How was your experience with oanda sir? customer service/deposit/withdrawal exp?

thanks!
Title: Re: Newbie Guide to Forex Trading
Post by: BFXGeneralConsultant on Jan 24, 2012, 09:49 AM

Wow!! that's good, continue my friend.. learn more..

Respectfully yours,
BFXGeneralConsultant


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 25, 2012, 11:59 AM
How was your experience with oanda sir? customer service/deposit/withdrawal exp?
isang beses pa lang ako deposit, withdrawal wala pa. (sa fxcm naexperience ko na deposit/withdrawal pero i wont recommend that broker)
ok naman lahat sa Oanda. ang iingatan mo sa Oanda, minsan nagha-hang/freeze ang platform, lalo na pag may balita.
isang pang minor reklamo ko sa Oanda, hindi pwede direkta magdeposit via credit card. (credit card via Paypal ang pwede)

overall, ok ang Oanda.
tuloy mo lang Sir ang demo, wag magmadali mag-live. try mo sa Oanda ang fxTrade/fxPractice at yung MT4. be sure try mo rin mag-open live account sa ibang brokers in the future, para makita mo ang pagkakaiba..
Title: Re: Newbie Guide to Forex Trading
Post by: BFXGeneralConsultant on Jan 25, 2012, 12:12 PM
isang beses pa lang ako deposit, withdrawal wala pa. (sa fxcm naexperience ko na deposit/withdrawal pero i wont recommend that broker)
ok naman lahat sa Oanda. ang iingatan mo sa Oanda, minsan nagha-hang/freeze ang platform, lalo na pag may balita.
isang pang minor reklamo ko sa Oanda, hindi pwede direkta magdeposit via credit card. (credit card via Paypal ang pwede)

overall, ok ang Oanda.
tuloy mo lang Sir ang demo, wag magmadali mag-live. try mo sa Oanda ang fxTrade/fxPractice at yung MT4. be sure try mo rin mag-open live account sa ibang brokers in the future, para makita mo ang pagkakaiba..

Yes, it's true.. diversification of portfolio..
Thanks Sir FE..

Mag-oopen ako sa Oanda.. live..

Respecfully yours,
BFXGeneralConsultant
Title: Re: Newbie Guide to Forex Trading
Post by: agliuz31 on Jan 27, 2012, 01:13 PM
sa wakas may live account na ako with oanda. was able to fund my account din via paypal. kaso nga lang hindi usd kundi sgd. yung lang kasi ang available currency kapag via PP ang deposit...
was able to deposit 100 sgd and 96.74 sgd ang nag reflect sa acct ko... (3.26sgd fee ni paypal)

at first, the PP fee was not a biggie but imagine if you'll deposit a higher amount like $1000, so meaning around $30 ang kaltas... medyo masakit >.<

any cheaper workaround suggestions to fund your account?

searching the web, i saw liberty reserve's fees to be quite charming... (http://www.libertyreserve.com/en/fees)
pero di ata sya pwede for oanda... :'(
Title: Re: Newbie Guide to Forex Trading
Post by: japyness on Jan 28, 2012, 10:08 PM
bukas cya from 5am ng umaga hanggang 5am ng umaga :D

in short, para cyang 7-11...

pati sabado at linggo?
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Jan 29, 2012, 04:38 PM
pati sabado at linggo?

Some brokers would let you trade during the weekends pero walang movement ang market...

For example Oanda, servers are up during the weekends you can place your orders(buy/sell) mas malaki nga lang ang spread, pero the market is flat...
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 05, 2012, 10:43 AM
on the issue of opening up an account from pinas with usa-based brokers, i think, your best bet is to open a bank account in usa. aside from having a usa-based address (brokers will hesitate to scam you), it is free to transfer funds from your accounts, be it bank. debit cards, credit card or paypal (deposit or withdraw).
you can trade anywhere in the world as long as you have an excellent internet provider and login access to your brokers trading platform.
i like to trade when in pinas because of the comfort of trading from 8 to 11 pm rather than the usual 5 to 8 am when in los angeles. i like trading the eur, gbp and usd combinations during these time frames due to liquidity.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 05, 2012, 11:25 AM
^
the problem is, can you open a bank account in the US when your residence is in ph?


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: Ping on Feb 05, 2012, 09:14 PM
the problem is, can you open a bank account in the US when your residence is in ph?

Yes, you can.  But of course, you need to be PHYSICALLY present in the US to open an account.


 :hello:
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 06, 2012, 01:49 AM
the problem is, can you open a bank account in the US when your residence is in ph?
not all banks and not all of any bank's branches allow this. bank of america and chase are the banks that i know do this; check first which branch to go. a valid passport and sometimes a ITIN (Individual Taxpayer Identification Number) may be required by a bank. you can procure your ITIN at any IRS (Internal Revenue Service) office. no need to be a resident alien; otherwise, you need a SSN.
i suggest you contact any B of A or Chase branch and inquire first before doing anything. call them or email their customer service. if you are a frequent USA traveler you know that you have to declare to US Customs, if you possess in excess of $10,000.
the reason i deemed it wise to have a us-based account is that us-based brokers will think twice to cheat you especially if they are members of NFA and CFTC. plus, paypal (according to one post here) charges $30 remittance fee per $1,000. that is 3% just to deposit; how much would it cost to withdraw? probably much more expensive.
note: there are some brokers (non us-based) that are restricted doing business with us-based traders. but we have a lot of brokers roaming around the world salivating to eat your hard-earned monies. i am not saying that all us-based brokers are good; but what i mean that these brokers will think twice to cheat you or steal your money because of some form of regulations by CFTC and NFA.
where would you rather have your money? in a regulated broker or un-regulated broker? check out where these brokers are based out of? how long they have been in business? even if you are the best trader around with the best trading strategy, if your broker is a "bucket shop", you won't be profitable.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 06, 2012, 06:22 AM
^

That is why for the convenience of non-US residents. These reliable and reputable brokers are outsorcing, setting up branches around the world in an environment similar to the US. Locations that are regulated by the NFA, CFTC, FFA, FSA, etc...Which is good by the way, to minimize bank transaction fee.

The problem is, the Philippines is not regulated so the best possible thing to do is find a branch of a reliable broker near you so as to minimize transaction fees. Or use paypal (charges will hurt)


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: krissy on Feb 06, 2012, 11:10 AM
gosh newbie din ako thanks sa thread na ito! haha
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 07, 2012, 03:42 AM
^
i have yet to know (does anybody know) of a "reputable broker" and registered with usa, uk, canada or eu regulatory boards that has a physical branch in pinas. i know (correct me if i am wrong) a lot of these so-called "branches" are introducing brokers.
it will take decades for pinas to regulate forex trading (OTC). nahihirapan nga ang congress natin to institute reforms sa mga palpak na processo in general, what more sa forex OTC na baka complicado sa tingin nila?
well, good luck a trading mo, jmiyake. 3% paypal charges is a little higher than PNB charges, but what can you do; paypal is so far the best available, for now.


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 07, 2012, 08:06 AM
^
yun nga mahirap, IBs lang sila tapos meron pang mga unscrupulous individuals kaya maliit lang talaga ang pag-asa na magkaroon ng financial maturity ang Pilipinas, sad but true...

Well, it's better to pay for those charges na sure ka naman than to be sorry later on...The downside of PNB is that, most brokers would not cover the transaction fees in withdrawing your money, so ikaw pa rin ang gagastos para dun...while sa paypal naman if you opt to spend it as e-currency no need to withdraw diba...lahat may pros/cons piliin mo nalang yung the best, relative sa size ng capital mo..


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: mjupiter on Feb 08, 2012, 10:50 PM
Hi! I'm new here. This is my very first post pero matagal na ako nagbabasa sa mga threads dito. Gusto ko lang mag thank you sa lahat ng mga tao na nagpopost dito about their knowledge on financial matters. In fact dito ko natutunan kung pano mag invest sa mutual fund, mag trade ng forex, mag trade sa stocks and little help also coming from here on how to handle a business. I'm currently trading sa forex and stocks, investing on a mutual fund and handling a business. God bless sa lahat ng mga tao dito. Ang ganda ng forum na ito.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Feb 08, 2012, 11:09 PM
Sir,
post/tanong ka lang dito, if necessary. :)
basta yung madadali lang na tanong :D
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 09, 2012, 05:26 AM
anybody with experience on withdrawals using Paypal accounts? please share. what i read so far is using paypal to make deposits.
my experience with fxcm when i made a withdrawal using a debit card is this: (and this was many years ago and i don't use my debit card with fxcm amymore). the withdrawal has to be the same exact amount as i deposited. the withdrawal transaction was treated as a charge back. the next time i tried to withdraw, i had a problem and i have to close that account and create a new one using my bank instead.
debit card is the easiest and fastest but when withdrawing, there goes the hitch.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Feb 09, 2012, 06:05 AM
may fxcm account din ako.
based on my experience, credit card deposit & withdrawal is easier, faster & most convenient para sa atin. ilang oras lang , ok na ang dep./withdrwl.
always make sure basahin ang instructions para iwas mali/aberya.

sa Paypal wala pa ko experience.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 09, 2012, 07:17 AM
anybody with experience on withdrawals using Paypal accounts? please share. what i read so far is using paypal to make deposits.
my experience with fxcm when i made a withdrawal using a debit card is this: (and this was many years ago and i don't use my debit card with fxcm amymore). the withdrawal has to be the same exact amount as i deposited. the withdrawal transaction was treated as a charge back. the next time i tried to withdraw, i had a problem and i have to close that account and create a new one using my bank instead.
debit card is the easiest and fastest but when withdrawing, there goes the hitch.

It depends on the broker if they accept payments from paypal, MB, etc... some "countries" require these brokers to not accept payments thru that method...

mostly nagkakaroon ng problema sa withdrawals eh, deposits no problem...
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 09, 2012, 01:24 PM
^

maganda, dagdag information para sa mga gustong gumamit ng paypal for funding/drawing from their forex accounts...


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 10, 2012, 02:17 AM
sa broker ko.. pwede ang paypal.
I use paypal and CC vice versa to deposit and withdraw my fx profits.
is it ok to mention your broker here? that way, anyone may be interested....thanks reluma.

Post Merge: 1328812391
yun nga mahirap, IBs lang sila tapos meron pang mga unscrupulous individuals kaya maliit lang talaga ang pag-asa na magkaroon ng financial maturity ang Pilipinas, sad but true...

Well, it's better to pay for those charges na sure ka naman than to be sorry later on...The downside of PNB is that, most brokers would not cover the transaction fees in withdrawing your money, so ikaw pa rin ang gagastos para dun...while sa paypal naman if you opt to spend it as e-currency no need to withdraw diba...lahat may pros/cons piliin mo nalang yung the best, relative sa size ng capital mo..

hi jmiyake: have you heard of any pinas-based forex trader that made a complaint to any forex broker, be it through the FSA or NFA and what the outcome was? i am just curious how these regulatory boards will handle complaints/cases coming from non-residents, i.e., not from their own countries. what i read from forexpeacearmy.com are mostly complaints from usa-based traders; however, i believe that even if you are not from usa or uk, forexpeacearmy might still help you.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 10, 2012, 06:17 AM
^

I haven't heard of anybody complaining yet, because I think nobody is complaining or doesn't want to..

You can ask for help in forexpeacearmy provided you present evidence

Post Merge: 1328840520
This is why we need a regulating body in the Philippines.
http://forexmagnates.com/interforex-another-foreign-forex-broker-settles-with-the-cftc/ (http://forexmagnates.com/interforex-another-foreign-forex-broker-settles-with-the-cftc/)

No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: mjupiter on Feb 16, 2012, 11:54 PM
Share ko lang para sa mga newbie na katulad ko kung ano yung mga important things sa forex trading and this is base sa experience ko lang. ok? hehe. Base sa 1yr ko na experience sa forex LIVE account, hindi yung demo. Unang una kailangan matuto ng mga basic technical skills, pinaka importante for me lang to ha is yung support and resistance. Number 2, dapat matuto ng money management skill, sa experience ko, kung nagttrade ako, i make sure na my position can withstand 500 to 1000 pips on opposite side na hindi na ddrain account ko, and Last thing for me is dapat prepared ka psychologically and emotionally kasi ang stress sa trading is devastating. So pag natalo ka ng mga 7 consecutive trades eh dapat mag relax ka muna, wag basagin ang monitor. hehehe
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 17, 2012, 03:12 AM
^
hi mjupiter: what do you mean "my position can withstand 500 to 1000 pips on opposite side na hindi na ddrain account ko"? if you are talking about stop loss, di ba masayadong malawak yun? how is your volume order going to be? risk/reward ratio? please share naman how you do this.
if you are talking about take-profit, still i find it hard to comprehend how one can make 500 to 1000 pips. so, i am curious how you do it. please share naman. thanks.


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: EHN on Feb 18, 2012, 01:51 AM
hello. Im a newbie! Please tell me more about forex trading, don't have any idea how it works. Im very interested to learn and to know anything about forex. Thank you.

Post Merge: 1329501184
And, ano po pala ang magandang site or reference to get some idea to manage the forex trading?
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Feb 18, 2012, 02:16 AM
^
EHN, go to www.babypips.com (http://www.babypips.com) or www.forexpeacearmy.com (http://www.forexpeacearmy.com). these two sites have a lot of materials to kick start your education. finish babypips forex school before you even get a demo account. its free. one thing i can share with you - discipline is the key word in forex trading. whatever you learn from babypips and forexpeacearmy, stick to it and you will be ok.
on the side: is my observation correct, that i don't see much female forex traders? is this all about testosterone? i am serious about this. in fact, studies presume that people with ring fingers longer than their forefingers are excellent and successful traders; and the long ring fingers is due to excessive flow of testosterone during pregnancy which was passed on to the baby.
so, check if your ring finger is longer than your forefinger, you may be the next george soros!!!LOL


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 18, 2012, 07:44 AM
hello. Im a newbie! Please tell me more about forex trading, don't have any idea how it works. Im very interested to learn and to know anything about forex. Thank you.

Post Merge: 1329501180
And, ano po pala ang magandang site or reference to get some idea to manage the forex trading?

try
www.babypips.com
www.forexfactory.com

after that practice with a demo account, much better a real "practice" account. Start with a very small capital ($5-$10) choose a smaller leverage, 1:100 is the maximum.

Trade with the trend, use JPY pairs for slower movements...Use any indicator you like...
then observe your performance for 3 months...

If you can't understand the terms, it means you have to read again at www.babypips.com

If you have any questions, just ask us here...
Title: Re: Newbie Guide to Forex Trading
Post by: research_solutions on Feb 18, 2012, 09:40 AM
Hi to everybody. I am really really really really new to Forex trading. Just a fundamental question lang po. Ang stocks po kasi, binibili because equity is means for a company to be able to accumulate liquid assets. so when i trade there i somehow feel that there is a "real" purpose for me trading and it doesn't feel like just a game or gambling. in Forex, in a sense, it is like commodity trading right? only that the commodity is money of certain denominations. am i right in this respect? kasi otherwise it would make me feel na gaya sha ng bucket shops na kinukwento ni Jesse Livermore. :P
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Feb 18, 2012, 10:16 AM
^

Here's my take on your assumption.

FX trading is mainly used as a "Hedge" for import/export businesses. Take Japan for example, they export cars/appliances/electronics. If mahal ang presyo sino ang bibili ng produkto nila? so the most logical thing to do, is lower the price by devaluing the currency and in return they buy the rival currency.

For ordinary citizens/people, if you go overseas on travel or business. How would you be able to spend relative to what you have, if your currency is too cheap? Thru PPP(purchasing power parity) merong corresponding equivalent ang pera mo sa ibang currency.

Before, sa panahon ng "real-money" selling, you have to physically buy USD from the bank and store it in a vault at home and wait for years before the value would appreciate, mahirap pag bumaba...

ngayon thru retail FX, prices change every second and no need to physically take hold of any currency (which lessen bank transaction fees).

Price action in FX is generated by the willingness to purchase or sell the currency.

About bucketshops, it is all about who the broker is, nothing about what forex is.

Bucketshops are like Boiler Rooms in stock trading...

About stocks, it is not all about the performance of the company but what "insiders" say about the company. Sa forex naman, governments sometimes intervene...


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Feb 23, 2012, 05:43 PM
Hi to everybody.
hello Sir r_s,
nice to see u here.

gaya ng stocks, basically u can trade forex for
- speculative &/or
- real purposes

Title: Re: Newbie Guide to Forex Trading
Post by: SRDC on Feb 27, 2012, 03:35 PM
For newbies, here's something that may help.  If you feel the other threads would benefit go ahead and share.  Will just keep it here to prevent cross-posting ;)

The founder of SRDC Global OrangeRoshan will be visiting Manila and holding the talk himself on March 7, 7:30 PM.  Info on OrangeRoshan, the talk is at the link below.

http://eepurl.com/jx7NX

There's also a copy of an article recently featuring SRDC Global and OrangeRoshan on Singaporean daily Berita Harian.

http://eepurl.com/jx7NX

By the way, if you guys have any questions, kindly email us at srdcphil@srdcglobal.com. We don't regularly check this account so if it's of importance best to do it there :) We'd be glad to share anything we can.

That is all. ;)


Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Mar 01, 2012, 12:05 PM
Here's a FREE video tutorial of a few forex strategies that some of you might find useful:

http://www.fxswingtraderpro.com/the-three-point-method/
Title: Re: Newbie Guide to Forex Trading
Post by: junorquillas on Mar 06, 2012, 03:56 PM
A friendly reminder to everyone who wish to invest/trade in the stock market of forex.  Don't dare to trade when you don't have sufficient knowledge about the forex/stock market psychology. Otherwise, your investing is nothing but a gambling! You can't afford to lose your hard earned money in a split second, can you?  For newbie, the best practice is LONG TERM INVESTMENT to ensure the maximum potential growth of your money.  The least is 5 years or 10 or 15 years or more... Make stock market as your biggest piggy bank as Bro Bo Sanchez said. You can invest for as low as PHP 2,000/month faithfully.  You will be amazed in due time that this becomes millions. In this way, the risk is minimized but the profit is maximized.

Buy your stocks now at low, low price. You'll be amazed when stocks rise in due time!

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 06, 2012, 06:55 PM
Quote
A friendly reminder to everyone who wish to invest/trade in the stock market of forex...
Sir junorquillas,
stock market of forex??

btw, forex subforum po ito.
Title: Re: Newbie Guide to Forex Trading
Post by: aldemir on Mar 07, 2012, 11:16 PM
Hi,
My name is Amir and I am a representative of a forex  trading company in Dubai called FXVV, we are ECN/STP brokers  and not considered as market makers which have high risk to any trader.
 if you are interested to learn more about forex trading or have any questions please visit our website just google "FXVV" and chat live with me or any of my colleagues.

                                                                            Best regard,
Title: Re: Newbie Guide to Forex Trading
Post by: Gilad on Mar 08, 2012, 09:24 AM
^^
I thought that forex is a high risk form of trading investment but why do you consider as 'not' when it comes into your broker?
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Mar 08, 2012, 11:45 AM
A friendly reminder to everyone who wish to invest/trade in the stock market of forex.  Don't dare to trade when you don't have sufficient knowledge about the forex/stock market psychology. Correct

Otherwise, your investing is nothing but a gambling! You can't afford to lose your hard earned money in a split second, can you?  Correct

For newbie, the best practice is LONG TERM INVESTMENT to ensure the maximum potential growth of your money.  The least is 5 years or 10 or 15 years or more...Wrong

Make stock market as your biggest piggy bank as Bro Bo Sanchez said. You can invest for as low as PHP 2,000/month faithfully.  You will be amazed in due time that this becomes millions. In this way, the risk is minimized but the profit is maximized. Wrong

Buy your stocks now at low, low price. You'll be amazed when stocks rise in due time! hmmm...


Title: Re: Newbie Guide to Forex Trading
Post by: Gilad on Mar 08, 2012, 07:44 PM
There are two wrongs and there are two corrects. But I do like that fact that it doesn't have to take about 5 to 10 years of practice to make a good investment.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Mar 09, 2012, 12:20 AM
^^ya, actually one of the reasons why i'm attracted to trading is bec for me trading is one of the remaining few ventures that allows one to accumulate so much w/n the shortest time thereby allowing one to do all the things s/he wants to do in life...
Title: Re: Newbie Guide to Forex Trading
Post by: GlueyZen on Mar 12, 2012, 11:11 AM
^^
Wow ang galing mo naman pero ang hirap talagang mag-trade lalong-lalo na kapag baguhan ka pa lang. Meron po ba kayong alam na strategy para sa mga newbie na safe and proven?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 12, 2012, 11:25 AM
^ lahat naman ng bagay mahirap sa umpisa, hindi lang sa trading, Sir.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Mar 12, 2012, 11:32 AM
^^
Wow ang galing mo naman pero ang hirap talagang mag-trade lalong-lalo na kapag baguhan ka pa lang. Meron po ba kayong alam na strategy para sa mga newbie na safe and proven?

no, i'm not there yet...still working my way...

"safe" and "proven" ? no such things in trading the markets... :hihi:

we live and die a thousand times each week...if ur looking for "safe" and "proven", ur in the wrong business...

that was not meant to discourage u....

my suggestion at this point for u is to do as FE suggested...go to babypips.com and finish the "School of Pipsology"...http://www.babypips.com/school/

after that, u will have a solid foundation and u can then start looking for a "safe" and "proven" strategy...seriously
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 12, 2012, 11:45 AM
Sagad,
dba merong safe & proven na strategies.
ang kaso lang tayong traders ang problema kasi hindi tayo safe & proven :D

btw, this is a serious joke Sir Gluey. food for thought :)
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Mar 12, 2012, 11:50 AM
^^ ya, meron ako alam safe and proven pero sobrang liit ng profit...kasi nga safe cya, so it's still a function of risk-reward
Title: Re: Newbie Guide to Forex Trading
Post by: cebuguy on Mar 12, 2012, 12:16 PM
Sagad,
dba merong safe & proven na strategies.
ang kaso lang tayong traders ang problema kasi hindi tayo safe & proven :D

btw, this is a serious joke Sir Gluey. food for thought :)

sa tingin ko depende sa perang kayang ipatalo. kung kagaya ko na mamera lang ang meron, mas gugustuhin ko sa safe :D
Title: Re: Newbie Guide to Forex Trading
Post by: romnickhudges on Mar 31, 2012, 07:16 PM
Hi everyone, it's so nice to be here. I'm a newbie in this community and so ecstatic to be part of the community. I'm hoping to learn a lot from you all. Thanks!
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 03, 2012, 04:43 PM
Hello Sir romnick,
Filipino?
feel free to browse through the Forex threads & ask questions if u have any.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Apr 03, 2012, 09:55 PM
^Good to always have you around, fE. What would this neck of the PMT woods be without you?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 03, 2012, 10:03 PM
thanks, Ma'am. i try to help whenever i can. & i'm nothing without fellow traders like u. :)
mahirap magshare sa new traders ng mag isa lang. damayan na lang, lalo pa sampu lang yata tayo dito. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: magtibaygom on Apr 04, 2012, 04:52 AM
Naging interested dati ako matuto sa ganito. The only thing that holds me not to pursue this kind of investing is, unlike stocks na talagang may solid business na basehan why companies operate, companies you are investing on, sa forex, hindi ba parang purely sugal lang sya? Betting on the ups and downs of foreign currency rates?
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Apr 05, 2012, 06:06 PM
^

yun nga sabi ng iba sugal talaga. yung mga trendline trendline nayan kalokohan. gagawa ng kwento para predict yung akyat o baba ng presyo.

eh ang alam ko pag nasa range ka ng 1-30minute window na mag trade parang sugal talaga
mag toss coin ka na lang.

pero pag nasa buong araw ka mag babad (research) at titingnan yung trend +news feeds or chismis sa currency eh
sugal na may pag asang manalo. hindi sya toss coin. kumbaga survival of the smartest. tinganan mo lang yung
eco indicators ng USD JPY EURO at Ginto mararamdaman mo galaw ng presyo.

tama ka sa stocks - dalwa lang titingnan mo yung dividend income- at growth ratios. pag mura at good=panalo! yun lang usad pagong gumalaw yung isang taon na movement; isang araw or 30minuto sa fx.

No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 05, 2012, 06:35 PM
Naging interested dati ako matuto sa ganito. The only thing that holds me not to pursue this kind of investing is, unlike stocks na talagang may solid business na basehan why companies operate, companies you are investing on, sa forex, hindi ba parang purely sugal lang sya? Betting on the ups and downs of foreign currency rates?
in fairness, pareho lang trading ang involved, so parehong sugal in a way.
in fairness, ang financial statements ng ibang companies ay may hocus pocus, so hindi sila 'solid business'. saka stock prices are not entirely dependent sa financials ng company. ang stock price ay dependent sa buying & selling, regardless of news & financials.
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Apr 09, 2012, 05:48 PM
teka maiba lang po saglit... noob question.. nakakahiya rin kasi gumawa ng trend..

ano po opinion nyo sa divergence?? kapag ganun ba suwak na reversal na yun??. tnx
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 09, 2012, 05:54 PM
hindi lagi, sir.
ang div, pwedeng mag-cause ng malaki or maliit na reversal.
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Apr 09, 2012, 10:41 PM
^ ah ganun b tnx sir ah.. pinangangambahan ko kasi yan eh hehe tnx ulit
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Apr 11, 2012, 01:15 AM
Mga sir curious lang po, kung sa stocks merong tinatawag na Peso Cost Averaging (PCA), at EIP naman sa Citisec, sa FE po ba meron ding pang longterm na strategy? Or pure (day) trading lang po talaga? TIA..
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 11, 2012, 01:22 AM
Sir, pareho lang sa stocks. pwede ka rin magtrade ng longterm sa FX.

yang CA, pwede rin yan sa FX. pero d ko recommended yan sa new traders (FX or stocks), kasi kadalasan pag new traders, passive/'blind' trading ang nangyayari pag gumamit sila ng CA.

may tamang gamit ang CA.
mali/not necessarily beneficial yung mag-c-CA ka on a certain day or date monthly gaya ng tinuturo/kinakalat online.
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Apr 15, 2012, 12:16 AM
Ah, ok. Pwede rin pala pang longterm ang FX. Kaso yun nga, mukhang marami pa talagang dapat matutunan before ito pasukin. Thanks po sa info.. :)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 16, 2012, 06:08 PM
kung mejo sanay ka na sa TA, mejo madali lang ang transition.

ang pinagkaiba lang sa stocks, buy/sell pwede sa FX at mas volatile. saka more importantly, may auto.stop loss kami (sa local online stockbrokers d ba wala) :D

post/PM ka lang Sir, if u have more questions.
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Apr 16, 2012, 10:52 PM
Ok sir, ipunin ko muna yung iba ko pang mga questions para isang bagsak na lang. Thanks again.. :)
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Apr 18, 2012, 06:02 PM
Any body using Zulu Trade in forex? please give some input since i'm planning to open a live account TIA.
Title: Re: Newbie Guide to Forex Trading
Post by: buntot_pagi2 on Apr 18, 2012, 07:10 PM
Sana may seminar kung paano gumamit ng online broker para sa FX. Natutuhan ko kasing mag COL dahil sa seminars nila. May ma suggest kayong online FX broker na madaling mapagtanungan sa Pinas?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Apr 18, 2012, 09:10 PM
Any body using Zulu Trade in forex? please give some input since i'm planning to open a live account TIA.

Hi! I'm assuming you'll be opening an account with Zulu as a system-follower. If so, be sure you do enough research so as to pick the trader that best suits your requirements, including the size of your capital. Next, understand thoroughly how your chosen system works (strategy used, position-sizing, etc) so your expectations would be realistic. It would definitely be to your advantage if you have some trading knowledge/experience in forex yourself.

Best of luck!

 
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 18, 2012, 10:53 PM
Sana may seminar kung paano gumamit ng online broker para sa FX. Natutuhan ko kasing mag COL dahil sa seminars nila. May ma suggest kayong online FX broker na madaling mapagtanungan sa Pinas?
bawat charting platform Sir, may manual/user guide.

try nyo yung brokers na gumagamit ng Metatrader 4 or MT4. madali gamitin ang MT4.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Apr 20, 2012, 05:24 PM
Hi guys, still backreading (page 2 pa lang) but just wanted to ask if the platform of Markets.com has been discussed? That is where I have a demo account right now. If na discuss na, ignore me na lang, I'll probably get to this page in a few days hehehe
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 20, 2012, 05:31 PM
d pa yata nabanggit yan, Sir.
Cyprus-based yan.

why not trade with/demo brokers na kilala &/or base sa UK, US, Australia? mas safe kayo.
gaya ng oanda, MBT, alpari, fxpro, ibfx, etc.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Apr 23, 2012, 04:37 PM
Thanks fE! I've finally arrived at this page. I'll confirm if markets.com is covered by any regulator and compare them as well to oanda and FXPro which are my most likely alternatives.

Just to add to the discussions, I think it was an advantage to have experience in stocks using technical analysis. I was quickly able to transition from the terms (c/o babypips.com pero di ako naka graduate hehe) to opening a demo account to "feel" the market. I am now applying the indicators I know one by one to see what would work well in forex.

My first demo account closed already last week with a loss of 6K (original value in the account is fixed at 100K). I am excited because even if it was a big loss, I ended that account with an 8 straight positive trades. Now, my target is to not have a net loss in the account when it closes. The plan is to cut loss early and let winning trades run. I know it's easier said than done, but that's the discipline I am trying to create.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 24, 2012, 10:49 PM
kahit anong indicator na gamit nyo dati, pwede lahat sa FX.

"The plan is to cut loss early and let winning trades run. I know it's easier said than done, but that's the discipline I am trying to create."
Actually, that is the path that we all should take and maintain. :)

Good luck sa trades nyo, Sir!
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Apr 25, 2012, 10:54 AM
ma iba lang konte pano ko ba malalaman bad or good yung event sa calendar halimbawa sa forexfactory calendar APR 25 3:00am ECB President Draghi Speaks nka high impact daw..

pano malalaman bukod sa greater or less than ng actual number
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Apr 25, 2012, 11:38 AM
^Click on the icon to the right of the event, which explains how that particular news item will impact trading.

Be careful, however, because there are times when the expected reaction of the market does not materialize. Instead, what happens is the exact opposite. That's the reason many traders opt to stay flat when an important news release is about to take place.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Apr 25, 2012, 03:02 PM
ma iba lang konte pano ko ba malalaman bad or good yung event sa calendar halimbawa sa forexfactory calendar APR 25 3:00am ECB President Draghi Speaks nka high impact daw..

pano malalaman bukod sa greater or less than ng actual number

my two cents, we mostly hear comments from analysts about what they expect the news/disclosure/report is. If all goes according to their expectation, non-mover yun kasi most have already factored it in. Ang masaya pag ang news eh taliwas sa expectation nila. Dun nagkakagulo at may price action. Napansin ko lang ito when I was trying to "trade the news".
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Apr 27, 2012, 04:07 PM
^ bali d pa rin tlga aasa sa news.. hehe tnx ah
Title: Re: Newbie Guide to Forex Trading
Post by: SeaPig on May 09, 2012, 08:23 PM
Hi guys. Anyone here have any experience with opening a paypal account using a debit card?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on May 09, 2012, 08:37 PM
Sir,
kung walang sumagot dito.
try mo i-PM sina freelancerbabe & finance123. baka may experience sila.
Title: Re: Newbie Guide to Forex Trading
Post by: SeaPig on May 09, 2012, 09:33 PM
Thanks sa info, ferrariEverest. oanda ba gamit mo? I'm a newbie kasi and naghahanap ako ng broker. Ano po marecommend nyo?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on May 10, 2012, 03:01 AM
yes Sir, ok ang Oanda.
u can start with $1 up.
w/ Oanda, basta check nyo lagi economic/news calendar at iwas kayo magtrade pag may news release. (generally, bawat broker ay may positive & negative)

oanda discussion thread here (for info, updates, comments)
http://www.forexfactory.com/showthread.php?t=10892

make sure, magdemo muna kayo Sir, at least 6-12months para d masayang ang pera :) PM/post lang kayo if u have more questions
Title: Re: Newbie Guide to Forex Trading
Post by: sicalsem on May 10, 2012, 04:59 AM
Hi guys. Anyone here have any experience with opening a paypal account using a debit card?

maraming ng discussions dito about paypal ..pls read at http://www.pinoymoneytalk.com/forum/index.php?board=188.0

If your debit card is from Union Bank there's a paypal guide at its website: http://www.unionbankph.com/index.php?option=com_content&view=article&id=1061&Itemid=275
Title: Re: Newbie Guide to Forex Trading
Post by: SeaPig on May 10, 2012, 08:09 PM
Thanks sa help guys. :)
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on May 13, 2012, 06:57 AM
Ah, ok. Pwede rin pala pang longterm ang FX. Kaso yun nga, mukhang marami pa talagang dapat matutunan before ito pasukin. Thanks po sa info.. :)

ang dapat talaga sa forex is long-term...kaso nga lang medyo hindi natin kaya yung ganun kalaking capital...there are a lot of strategies for long-term investments (swing, carry, hedge, etc...)

If I recall last 2008, Warren buffet was betting on the GBP for 1 year before he closed his position...

Naging interested dati ako matuto sa ganito. The only thing that holds me not to pursue this kind of investing is, unlike stocks na talagang may solid business na basehan why companies operate, companies you are investing on, sa forex, hindi ba parang purely sugal lang sya? Betting on the ups and downs of foreign currency rates?

everything becomes a gamble if you have no idea what you are doing...Even if you lose while following your system/strategy then you will know your system has flaws...That is why meron tayong tinatawag na "margin of error" / "risk management".  If it goes beyond the limit then rethink your strategy/system.
Title: Re: Newbie Guide to Forex Trading
Post by: SeaPig on May 21, 2012, 12:36 AM
Guys. Ask ko lang sa mga may account sa oanda kung sa www.oanda.sg o www.oanda.com kayo nag sign up at anong kaibahan ng 2?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on May 22, 2012, 12:44 PM
pagkakaalala ko Sir, sa oanda.com ako nag open ng account. parang may restriction dati sa SG branch.

kung pwede kayo mag open sa SG branch, mas convenient yun. yung latter kasi ay US branch.
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on May 26, 2012, 11:15 AM
Guys. Ask ko lang sa mga may account sa oanda kung sa www.oanda.sg o www.oanda.com kayo nag sign up at anong kaibahan ng 2?

pag sg, sg lang talaga...iba rin yung oanda.com lang....
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on May 27, 2012, 07:53 AM
Guys. Ask ko lang sa mga may account sa oanda kung sa www.oanda.sg o www.oanda.com kayo nag sign up at anong kaibahan ng 2?

w/ oanda.com ur account w/ be in USD...

w/ oanda.sg ur account will be in Singaporean Dollars...
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Jun 14, 2012, 03:26 AM
post ko din d2 ung tanong ko sa isang thread.. mas angkop ata pinagppost ko d2.. hehe.. gumamit ba kayo backtest software ever?? what are your thoughts about it? thanks.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jun 14, 2012, 07:03 AM
Some people (me included) think forward-testing is better than back-testing.

Why not ask at either "forex factory" or "forex-tsd?" 
Title: Re: Newbie Guide to Forex Trading
Post by: SRDC on Jun 18, 2012, 06:41 PM
Hi guys,

Haven't posted a schedule in awhile (and haven't been online for awhile for that matter) but we're back in action.  Just posting an SRDC orientation schedule below.  For those who would like to share feel free. Will only post it here. Thanks.  Will also try to alert if any replies to this post but if possible, please email us directly at the email as we've noticed some notifications have not been going through.  We'd be happy to answer any questions on the seminar, SRDC trading, trading in general if we're not able to catch and reply them here on the forum.  Thanks again. 
_______________________________________

Check out the latest round of SRDC orientation seminars. As usual, seminars are free.

June 28, Thursday, 7:30PM
SRDC Orientation Seminar
Technical charting, precious metals and the decline of the US dollar

June 29 Friday 7:30 PM
Introduction to SRDC
Learn basic SRDC techniques for free.

More info on the talk here:http://eepurl.com/mNszL

to attend talk, email: srdcphil@srdcglobal.com

Scroll down for the details of the seminars


SRDC Orientation seminar:
The SRDC orientation seminar is an hour and a half talk covering the core principals of SRDC trading.
It is open to non-students of SRDC Global.

See how SRDC traders consistently achieve wins using the SRDC method.

Discover why over 20,000 professional derivatives traders from the SRDC community have shifted
from trading in various markets such as forex to focusing mainly on precious metals in both derivative and physical forms.

Learn why the dollar has lost over 95% of its purchasing power since it was created and why it will continue to decline.

Discover why gold and silver have been steadily increasing against the dollar and find out why
precious metals are one of the best ways to protect your savings from inflation.

Fee: Free of charge
seats are very limited. To reserve seats, email us at: srdcphil@srdcglobal.com

Introduction to SRDC Basics
What you will learn: The SRDC orientation seminar is an hour and a half talk covering core principles of
SRDC technical charting analysis and its recent shift of focus to precious metals trading.
It is open to non-students of SRDC Global.

Get an exclusive look at basic SRDC techniques and how SRDC can be used in any financial market to
accurately predict price movement, allowing you to greatly reduce risks in derivative trading

See how the SRDC system has helped many SRDC students pass the SRDC standard of achieving
20 consecutive wins on demo account before trading on live. Meet some of these students.

Install and setup your trading platform on your laptop and find out how to navigate and use its features.

Begin using basic SRDC techniques which SRDC traders use to consistently achieve wins.

Fee: Free of Charge
note: laptops required
seats are very limited. To reserve seats, email us at: srdcphil@srdcglobal.com


A letter from SRDC Philippines:
SRDC takes pride in providing awareness to the public about the real cause of price movements in financial markets
and technical charting analysis at no charge.
As a testament to SRDC technical charting, our basic strategies are provided via www.srdcglobal.com and
through the free seminars held periodically for public use.

For those who would like to enroll in our full program, we would be glad to teach you.
We have an amazing support group that will help you through your trading career.

SRDC instructors from all over the world, weekly review classes and market updates with fellow traders as well as
access to the online resources are provided for you without extra charge for life.

We're entirely committed to helping you invest sustainably. We don't issue out certificates.
We believe that the best certificate are your wins and your ROI and that's what really counts.
We believe that 20 consecutive wins can be achieved by anyone, and we're proving that with each
and every SRDC trader.
We are not just a school. We are a community of traders investing our own money using, in our opinion, the
most effective, efficient and most sustainable way to trade. We are not affiliated to any brokers nor do we plan to.
We make money with trading and intend to keep it that way.

For those who would just like to know more about investing and basic trading, we're glad to help you with any information
It is in our opinion that the information and strategies given during the basic seminars match or even surpass
the information in paid seminars. (The basic SRDC strategy, for example can be an effective strategy 60-70% of the time on its own)

It is in our belief that sustainable trading needs to be developed over time, something that can't be fully taught in one
day or even a weekend, which is why we're giving these seminars for free. It's something you can begin to take home
and try out to see for yourself.

They say that if you believe in something, you'll give it out for free, and that's what we're doing.

What's important to us is that you know what you're getting into before you dive in. We're here to help out anyone
who cares to listen. Because after all, nobody cares about your money than you do.

And that is our honest opinion.

Sincerely,
SRDC Philippines

*watch this thread for more schedules*
Venue: SRDC Philippines office (Orange Roshan Ventures Inc.)
Unit 3-E2 3/F OPL Bldg. 100 Carlos Palanca St. cor Dela Rosa St. Makati
Title: Re: Newbie Guide to Forex Trading
Post by: kambal825 on Jun 22, 2012, 08:12 PM
Newbie din po ako.. :hello:..Sa PMT rin po ako unang natuto sa stocks at UITF...  :yoohoo:... Very informative po ang mga forum kaya naman nagpapasalamat ako sa lahat ng mga nagbibigay ng makabuluhang inpormasyon..... :thankyou:..... Isang Taon na po akong nagtetrade ng stocks.....
Ngayon naman po ay Forex naman ang itatry kong gawin..... Kaso po na shock ako ng una kong makita ang platform ng forex (oanda) :huh:parang Christmas light  :hihi:...maya't maya nagpupula at green ang kulay ng currencies... :ohmy:... Parang mahirap magtrade ng Forex... :huh:. Need ng pag aaral Talaga..... Ask ko Lang po, kada transaction po ba sa Forex ay my commission fee tulad sa Stocks? At pwede bang pang long term ang Forex? Salamat po at pasensya na po sa tanong..... ;) ;) :huh:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 22, 2012, 11:10 PM
^ pwede po pang long term or short term, Sir.
pwede ring mid-term o pre-term or post-term  :hihi:

yung ibang brokers may commission. yung iba spread or mark up lang. yung iba commission + spread.
Yung Oanda spread lang.
Title: Re: Newbie Guide to Forex Trading
Post by: leo0707 on Jun 22, 2012, 11:49 PM
Welcome!

Indeed, I agree with your definition with forex. Forex is really colorful especially during major economic news ^_^.  It’s the largest derivative and the most liquid market in the world.  Its players are central banks, institutional investors, governments, retail investors, and currency speculators. As of April 2010, its daily turnover reached to nearly $4 trillion and it’s increasing year after year.

If you have extra time, try to read useful information on the internet. You can find variety of websites and forums like PMT that will give you good insights. Learning forex is tough but nothing on this earth that you can’t learn, agree? Remember, we all start as a beginner, embrace courage and don’t be scared or regret with mistakes as it will lead to learning.  

With regards from fees, If you are going to open an account and trade with Brokers/IB’s they charge commission from $1 to $xx.xx.  I strongly suggest, open an account directly from the market maker (trust capital,icm brokers,oanda,mig, and etc…) as no commission to be charged. However, you should read and understand everything before trading with some market maker.  You can actually trade long term but you should know your objectives, what type of trader you are, and etc… I know someone trading weeks, leaving his open positions for months.   If you have more questions don’t be shy to post them here as members of this forum are happy to answer all of them. Right fellow traders? ^_^

Again, welcome and we (members) hope that you will learn everything you want in trading. ^_^
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jun 28, 2012, 11:14 AM
Some people (me included) think forward-testing is better than back-testing.

Why not ask at either "forex factory" or "forex-tsd?" 

ano yung forward testing?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jun 28, 2012, 11:56 AM
From wikipedia:

Forward testing is also known as Walk forward testing. It is the simulation of real markets data on paper only. You are not actually putting in real money, but doing virtual trading in live markets to understand the movements of markets better. Hence, it is also called Paper Trading. Forward performance testing is a simulation of actual trading and involves following the system's logic in a live market.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jun 29, 2012, 08:58 AM
as far as my trading experience is concerned, none has been as important, productive and helpful as the thousand of hours i've done doing backtesting...
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Jun 30, 2012, 03:05 AM
as far as my trading experience is concerned, none has been as important, productive and helpful as the thousand of hours i've done doing backtesting...
do you use a software for this?
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Jun 30, 2012, 10:32 AM
Welcome!

Indeed, I agree with your definition with forex. Forex is really colorful especially during major economic news ^_^.  It’s the largest derivative and the most liquid market in the world.  Its players are central banks, institutional investors, governments, retail investors, and currency speculators. As of April 2010, its daily turnover reached to nearly $4 trillion and it’s increasing year after year.

If you have extra time, try to read useful information on the internet. You can find variety of websites and forums like PMT that will give you good insights. Learning forex is tough but nothing on this earth that you can’t learn, agree? Remember, we all start as a beginner, embrace courage and don’t be scared or regret with mistakes as it will lead to learning. 

With regards from fees, If you are going to open an account and trade with Brokers/IB’s they charge commission from $1 to $xx.xx.  I strongly suggest, open an account directly from the market maker (trust capital,icm brokers,oanda,mig, and etc…) as no commission to be charged. However, you should read and understand everything before trading with some market maker.  You can actually trade long term but you should know your objectives, what type of trader you are, and etc… I know someone trading weeks, leaving his open positions for months.   If you have more questions don’t be shy to post them here as members of this forum are happy to answer all of them. Right fellow traders? ^_^

Again, welcome and we (members) hope that you will learn everything you want in trading. ^_^

Hi Leo,
anong trading platform gamit nyo po. at name ng broker.

salamat!
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jun 30, 2012, 11:06 AM
nope...

i did try using a software...wherein it spits out the results instantly...

but i found out that becktesting manually by going back for 3-5yrs (for the daily TF strategies) has a lot of benefits...

1.)  Gives u more confidence in the system as u would really see candle by candle how different scenarios would play out...

2.)  Better if you would also have an excel journal that would record all your trades, this will train you to have that discipline money management wise...

3.) It would make you resilient to periods of drawdowns as you will be exposed to different scenarios in your backtest...

4.) You will become a master of the system you are backtesting as you will notice different parameters of your stategy...word of caution though: u might be tempted to make some changes in your system, i suggest that u don't and finish the targeted backtest period... by doing that u would have significant amount of data to fully conclude if the revision u intended indeed has merit or were u simply curve-fitting to a particular market condition...

i read somewhere that part of the training of the infamous turtles of Dennis Richards was a very extensive manual backtest w/ the purpose of instilling confidence in the system and eventually themselves as well...
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jun 30, 2012, 12:07 PM
^I've never tried back-testing kasi since I'm too tech-challenged (can't do excel, for one). But apparently many people swear by it and credit it for improving their trading. All good...
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jun 30, 2012, 01:07 PM
^ u know what the most important button is for backtesting? F12...

that's all u need...

and of course ur journal...
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 30, 2012, 08:23 PM
^ F12 yahoooo! (MT4 ka rin d ba?)
ako mas gamit ko Home & End button, page up/down, saka mouse (for scrolling) :D

libre & effective :D
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jul 05, 2012, 08:43 AM
eh ano b maganda gawin sa journal di ko kasi namemaintin sakin hehe minsan parang ewan lng haha.. tips nman po dyan mga pro  :D
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jul 05, 2012, 09:39 AM
basically, this is what i keep track in my trade journal:

trade #
Date
pair
position (long or short)
entry price
stop loss in pips
stop loss in $
target profit
target profit in pips
target profit in $
R:R Ratio
Trade duration
R Multiple ( P&L divided by initial risk)
% Wins
Results (Win or Loss)
Running count of wins
Comment before entry
Remarks after exit
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jul 08, 2012, 08:04 PM
maraming salamat po
Title: Re: Newbie Guide to Forex Trading
Post by: kambal825 on Jul 09, 2012, 09:37 PM
Advise naman po. Nag open na po ako ng  account sa oanda for live trading  po, at the last part of signing up my application Medyo nagdalawang Isip po ako. Need pa po ba mag upload ng mga valid ID's at mga proof of billing,etc. before maapprove ang account ko? Salamat po
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Jul 10, 2012, 12:37 AM
Advise naman po. Nag open na po ako ng  account sa oanda for live trading  po, at the last part of signing up my application Medyo nagdalawang Isip po ako. Need pa po ba mag upload ng mga valid ID's at mga proof of billing,etc. before maapprove ang account ko? Salamat po
yes. your valid ID is needed just in case of some problems that needs to establish your identity rather than a "pre-requisite" for approval. they wanted to know who they are dealing with. if ID security is your apprehension, i think oanda is one of those last entity to steal your ID. they make more money as dealers/brokers than as "phisers". lol
Title: Re: Newbie Guide to Forex Trading
Post by: wildtaurosapp on Jul 15, 2012, 07:10 PM
bukod sa oanda, ano pang broker ang safe at recommended for beginners?
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Jul 16, 2012, 11:13 AM

bukod sa oanda, ano pang broker ang safe at recommended for beginners?

Try the winwood group ltd.  We do offer a mini account and before starting the live account we will provide you a demo account to practice the trading in a live market.  PM me and we can discuss something about forex.  ;)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 16, 2012, 05:13 PM
With all due respect, I have a limited trading experience (since circa 2005), but I have never heard of Winwood, even in 2-4 international trading forums i've been to/posted at.

in an age when even BIG names like Lehman brothers and Barclays capital get tainted reputations, mas dapat mag-ingat tayo.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 16, 2012, 06:06 PM
Very much agree with fE here. If clients can lose their funds using CFTC-regulated  brokers with supposedly good reputations (like MFGlobal and more recently, PFGBest), the more we should be careful about our choice of who we do business with.

We can never do enough due diligence these days, it seems, as far as brokers are concerned.
Title: Re: Newbie Guide to Forex Trading
Post by: PaoloValler on Jul 18, 2012, 03:05 PM
 :thankyou:Hello, I'm new here at forex, 1month plang ako and naka demo account pa lang po ako. I'm a current employee and I want to quit my job na. Thing is, I can only invest $250 with my current situation. I only need $20/day so that ill be able to quit and focus on forex and investing on other concepts.
My question is, for a newbie trader like me and with that little investment, is it possible to achieve my short term goal of $20/day?

This is also my first day here at pinoymoneytalk.com, looking on expanding my knowledge as much as I can to make this possible.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 18, 2012, 03:36 PM
Hello Sir Paolo,

$250 capital & a $20 daily goal is possible. but for a newcomer, it won't be that easy.
kailangan humakot ka muna ng knowledge at experience, at ideally palakihin mo ang capital mo (to at least $500 to $1k)

commit yourself sa pag-aaral ng trading for at least 6months to 2 years.
after 1-5 years at ok na ang trading mo, saka mo palang dapat isipin ang pag-reresign.
NEVER resign kung d pa stable ang trading mo or wala ka pang stable alternative income source.

Good luck Sir
Title: Re: Newbie Guide to Forex Trading
Post by: PaoloValler on Jul 18, 2012, 04:30 PM
^

Thank you for the reply sir! Will take note!!


No need to quote previous post.
Title: Re: Newbie Guide to Forex Trading
Post by: kambal825 on Jul 18, 2012, 07:28 PM
Mga ka PMT, since na naglalaro po ako sa forex demo, may 3 settings po akong ginawa, first I buy eur/usd then set the trading profit, stop loss, etc.. 2nd naman po buy again then set everything but this time set for 1 month. And lastly buy Lang po then never set anything. Ok Lang pa na buy Lang ako at di na magset ng mga options like stop loss, trailing stop, days to hold the trade, etc....? Magkakaroon po ba ng problem Kapag ginawa ko yun sa actual trading? Salamat po sa tulong......
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 19, 2012, 10:29 AM
@PV: Whatever you do, wait before quitting your job just yet. Don't believe the hype about forex trading being the quickest way to untold riches. You need to be profitable demo-trading first before you think about putting money in a real account. And a target of 8% a day is not realistic; some people are happy pulling 10% out of the market in a month--or yes, even a year! :-)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 19, 2012, 12:17 PM
Sir kambal,
masyado mechanical ang ginagawa mo.
hindi po ganyan kasimple, at least sa umpisa, ang trading.
although pwede nyo pa rin gawin yan pag tumagal na kayo sa trading.

pwedeng magkaproblema kayo pag hindi kayo nagset ng stop loss, kasi baka maubos kapital nyo (or tinatawag na margin call).
pero kung mababa ang gamit nyo na leverage (1:1 up to 1:50) AT maliit ang position size na gamit nyo sa bawat trade, hindi kayo basta basta ma-MC (margin call).
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 19, 2012, 02:36 PM
@kambal: Huwag mag-madaling sumabak sa live-trading. At least sa demo, lahat ng klaseng trial and error ay p'wede mong gawin without putting your funds at risk. (Tingnan mo kung anong magiging resulta, halimbawa, pag wala kang inilagay na take profit o stop loss.)
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Jul 20, 2012, 10:33 AM
^^

Agree ako kay ferrari. mejo risky tlga ang walang naka abang na control order.   In that case, hindi malayo na masusunog agad ang live trading mo.  You should analyse carefully the market, though hindi man ma perfect.. pairalin ang patience management mo as a trader.. Im a trader for almost 7 years now.. I only focus sa isang indicator, my weapon is discipline and patience at trading.. i do trade in a conservative apporoach sa market.. Im inlove with the  stop loss ;p rather in a locking position... i believe in technical but fundamentals is more powerful.. in short both funda and tech shows the movements and direction for the currency.  what ever feds i receive from different brokers and analyst.. the best parin saken ung support and resistance level...

Share ko lang po ito..my opinion towards trading..
Sana makatulong ^^
Title: Re: Newbie Guide to Forex Trading
Post by: PaoloValler on Jul 21, 2012, 12:10 PM
Mga ka PMT, since na naglalaro po ako sa forex demo, may 3 settings po akong ginawa, first I buy eur/usd then set the trading profit, stop loss, etc.. 2nd naman po buy again then set everything but this time set for 1 month. And lastly buy Lang po then never set anything. Ok Lang pa na buy Lang ako at di na magset ng mga options like stop loss, trailing stop, days to hold the trade, etc....? Magkakaroon po ba ng problem Kapag ginawa ko yun sa actual trading? Salamat po sa tulong......

Sir, newbie lng po ako, pero from what I have learned if you don't put a stop loss, next thing you have is stop out. You are allowing yourself to lose 90% of your account just in case the currency drops big time. You will never know if its going up or down, how big the movement will be.
The stop loss is there so you could calculate your risks. So it is very vital to put in stop loss. Siguro ok lng kung walang take profit kung mag tetrail or constant modification ka.

Post Merge: 1342848074
@PV: Whatever you do, wait before quitting your job just yet. Don't believe the hype about forex trading being the quickest way to untold riches. You need to be profitable demo-trading first before you think about putting money in a real account. And a target of 8% a day is not realistic; some people are happy pulling 10% out of the market in a month--or yes, even a year! :-)

Got it sir.
Title: Re: Newbie Guide to Forex Trading
Post by: julz on Jul 22, 2012, 01:35 PM
meron po bang Forex Seminars I can attend free or for a fee?
pansin ko lang parang masmahal din ang Forex Trading Seminars compared to Stock Trading Seminars.

Another question, if you had 200k, what percentage would you use/how much would you put in Forex?
Of course, the rest should be spread out to other forms of investment for diversity (risk)
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Jul 27, 2012, 03:13 PM
anu po ba ang magandang forex broker? how do i fund account using metrobank as my main bank?
Title: Re: Newbie Guide to Forex Trading
Post by: part_timer_lang on Jul 27, 2012, 08:29 PM
@julz, bka interested ka attend dito - http://www.powerupcapital.com/fxph/index.html#register.

Punta sana ako today pero umuulan, hirap pumunta. May next sched pa sila. Free.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 28, 2012, 06:27 AM
^Been seeing their ads for many days now (claiming basically to transform traders into "instant forex millionaires") and wondering if anyone has attended?

What's the real deal with these guys? Are they offering training or forex signals? Are they introducing brokers?

Would love to get anyone's feedback.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 28, 2012, 09:13 AM
^ matagal na yan si Kishore. more or less 2-3 years na yan.

ang style nya, parang MLM, may speaking engagements sya.
inoobserbahan ko lang sya as years move along (via email).
IB siguro sya. need further scrutiny.

sa mga newcomers I suggest mag ingat kayo.
kung malakas sila maglabas ng ads, well, alam nyo na, may motibo... pang-akit lang yung 'free seminar'.
u must understand kahit umattend kayo ng isang libong paid/free seminars, balewala kung d kayo papasa sa 'acid test' (at least 1-5 years of LIVE trading)
Title: Re: Newbie Guide to Forex Trading
Post by: arieskrus on Jul 28, 2012, 03:37 PM
anyone here member of forexclubasia? ok din b seminar ni mark so? mag-aaral p lng ng forex... been trading stock...
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 28, 2012, 05:43 PM
magkano po seminar nya ngayon?
ayaw nyo ba ng libre lang? basa sa internet or basa libro/ebook.
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Jul 28, 2012, 07:25 PM
@julz, bka interested ka attend dito - http://www.powerupcapital.com/fxph/index.html#register.

Punta sana ako today pero umuulan, hirap pumunta. May next sched pa sila. Free.
^ matagal na yan si Kishore. more or less 2-3 years na yan.

ang style nya, parang MLM, may speaking engagements sya.
inoobserbahan ko lang sya as years move along (via email).
IB siguro sya. need further scrutiny.

sa mga newcomers I suggest mag ingat kayo.
kung malakas sila maglabas ng ads, well, alam nyo na, may motibo... pang-akit lang yung 'free seminar'.
u must understand kahit umattend kayo ng isang libong paid/free seminars, balewala kung d kayo papasa sa 'acid test' (at least 1-5 years of LIVE trading)

nag register ako Boss. Aug 2,2012 Thursday sa Manadarin.
Tamang tama matingnan ko yung estilo nya.
Tara kita tayu dun.
Title: Re: Newbie Guide to Forex Trading
Post by: arieskrus on Jul 29, 2012, 07:08 AM
magkano po seminar nya ngayon?
ayaw nyo ba ng libre lang? basa sa internet or basa libro/ebook.

2.5k... kaso may promo sya P500 lng if register ngayon....nagbabasa rin naman me ngayon dito s PMT. Gusto ko lng sana may matanong ng personal kaya gusto ko umatend ng seminar.

Post Merge: 1343518866
nag register ako Boss. Aug 2,2012 Thursday sa Manadarin.
Tamang tama matingnan ko yung estilo nya.
Tara kita tayu dun.

I registered too.....see you there...

Di kaya dahil free eh pagpunta natin dun kulitin tyo ng kung anu-ano?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 29, 2012, 09:50 AM
^ pwede kayo magtanong dito ng libre. d kailangan pumunta sa paid event para magtanong. isa pa, kung super sensitive orproprietary-related ang question mo, may malaking chance na hindi nila sagutin yun.
feel free to PM me if you have FX-related questions.

yung sa seminar ni mark, yung P500 promo dati ko pa nakikita yan. P2,500 d ako sigurado pero dati na rin yata yan.
intro seminar price lang yang P2,500, kung d ako nagkakamali. basics ang ituturo which is free sa internet.
yung 'advanced' seminars nya, x2 to x5 yata ang price difference.

yung kay kishore, syempre may kapalit yun, 1 way or another.
whichever you choose, be vigilant.
Title: Re: Newbie Guide to Forex Trading
Post by: part_timer_lang on Jul 29, 2012, 12:15 PM
I asked the one who called and confirmed my attendance if there's anything I need to pay. Sabi naman wala :)

Umuulan lang kasi kaya di na ako tumuloy. Kilala ata si Kishore sa Singapore forex circle, baka parang Mark So dito sa Phils.
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Jul 29, 2012, 08:59 PM
^ pwede kayo magtanong dito ng libre. d kailangan pumunta sa paid event para magtanong. isa pa, kung super sensitive orproprietary-related ang question mo, may malaking chance na hindi nila sagutin yun.
feel free to PM me if you have FX-related questions.

yung sa seminar ni mark, yung P500 promo dati ko pa nakikita yan. P2,500 d ako sigurado pero dati na rin yata yan.
intro seminar price lang yang P2,500, kung d ako nagkakamali. basics ang ituturo which is free sa internet.
yung 'advanced' seminars nya, x2 to x5 yata ang price difference.

yung kay kishore, syempre may kapalit yun, 1 way or another.
whichever you choose, be vigilant.
masarap yunng tanong mo boss. Tamang tama. Naka open yung isang fund ko sa EURUSD open sell.
Aakyat ba o Baba BA bukas pag bukas ng Sydney.
Ano tingin nyo.

salamat!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 30, 2012, 07:33 AM
Sa mga pupunta sa Mandarin, kuwentuhan n'yo na lang kami. Hope Typhoon Gener is gone by then.

Went to the website, btw. Looks like they're selling a course package as well as a trade alert subscription.
Title: Re: Newbie Guide to Forex Trading
Post by: wildtaurosapp on Jul 30, 2012, 08:18 AM
Guys, what are the cost on using oanda? are there additional cost when investing in long term ?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 30, 2012, 08:50 AM
^Hi. At Oanda -- or elsewhere--the cost would be whatever the spread is on the currency pair you're trading. Unless you choose the commission option, where you pay a set fee in exchange for reduced spreads.

I'd strongly suggest that you first finish the tutorial at  babypips.com and then practice on demo until you're consistently profitable before venturing into real fx trading.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jul 30, 2012, 10:50 AM
magkano po seminar nya ngayon?
ayaw nyo ba ng libre lang? basa sa internet or basa libro/ebook.

People love to be told what to do that they will listen to anybody... :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Jul 30, 2012, 12:16 PM
^Hi. At Oanda -- or elsewhere--the cost would be whatever the spread is on the currency pair you're trading. Unless you choose the commission option, where you pay a set fee in exchange for reduced spreads.

madam, do you know if you need strong internet connection for oanda? cannot connect with them, narerequest ng new server??.. anyway nakaconnect ako sa easy forex, i think may ib or branch sila dito.. don't know if that's the reason kung bat mas madali, anybody encountered this before? thanks
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 30, 2012, 12:47 PM
^Hi. Wouldn't know as I no longer use them at present. To be honest, it was the frequent disconnections that turned me off and made me leave. Maybe it's different now?

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 30, 2012, 06:22 PM
madam, do you know if you need strong internet connection for oanda? cannot connect with them, narerequest ng new server??.. anyway nakaconnect ako sa easy forex, i think may ib or branch sila dito.. don't know if that's the reason kung bat mas madali, anybody encountered this before? thanks
Sir, balewala ang local branch kung wala naman ang trading server dito. check mo yan sa kanila.

baka may problema yung computer or java update sa PC mo.
bihira problem sa Oanda. usually may problema pag may news release, pero related issues bihira ko lang naranasan
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Jul 31, 2012, 02:07 AM
^thanks boss fe, actually isip ko baka may server yung easy forex dito kasi may branch sila. baka nga java update, nahuhuli na kase specs ko sa mga update kaya tinigil ko na, tuloy ko na ulit...

^mam prospera, no na gamit mong broker?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 31, 2012, 06:46 AM
^I'm using Pepperstone now.

Besides being ASIC-regulated, they've been quite decent (in terms of spread, leverage, execution, support).
 

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 31, 2012, 11:26 AM
^thanks boss fe, actually isip ko baka may server yung easy forex dito kasi may branch sila. baka nga java update, nahuhuli na kase specs ko sa mga update kaya tinigil ko na, tuloy ko na ulit...
java 7 na po ngayon.
test nyo dito yung java sa pc nyo
http://www.java.com/en/download/testjava.jsp

d po lahat ng branch ay may trading server, so dapat itanong nyo lagi. baka office/call center lang yung 'branch' dito.

^I'm using Pepperstone now.
Besides being ASIC-regulated, they've been quite decent (in terms of spread, leverage, execution, support).
obserba rin ako ng Aussie brokers.
razor account sayo, Ma'am? ilang months/years ka na sa kanila?
mukhang ok yang pepperstone.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 31, 2012, 11:37 AM
^A few months. Planning to shift to the razor account later.

Try them on demo first so you can judge for yourself. They have a Singapore server, btw.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 31, 2012, 11:58 AM
main trading account mo na yan?
yes, one of the perks. malapit servers satin. :D
Thanks!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jul 31, 2012, 06:40 PM
^For now. It's a pain to be testing out brokers and getting disappointed time and again.

Client funds are segregated, I understand. So that's a plus as well.
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Aug 01, 2012, 03:21 PM
guys, please help. i want to open an fx account. but what broker? can i use eon card to fund my account? or do i need to link my eon to some e-money site like paypal or payza?
Title: Re: Newbie Guide to Forex Trading
Post by: part_timer_lang on Aug 01, 2012, 04:06 PM
^I'm using Pepperstone now.

Besides being ASIC-regulated, they've been quite decent (in terms of spread, leverage, execution, support).
 

Paano po kayo nagdeposit and withdraw funds with Pepperstone?
Do you also use Metatrader?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Aug 02, 2012, 09:54 AM
^Hi. Like most brokers, Pepperstone has several funding/withdrawal options: credit card, wire transfer, webmoney, etc. I've not done any withdrawals at this point, but the general rule is that you use the same funding method for taking money out.

Yes, I use their MT4 platform.

Post Merge: 1343874180
guys, please help. i want to open an fx account. but what broker? can i use eon card to fund my account? or do i need to link my eon to some e-money site like paypal or payza?

Hi. Not to be discouraging, but are you sure you're ready to open a real account at this point? Have you done enough demo-trading and, more important, been consistently profitable?

It's also important to test your broker of choice on demo to see if they're indeed the right fit for you. And since it's your first  live account, it might be wise to start small (minimum deposit; micro-lots) until you're confident you can be a successful trader.

Many brokers accept debit cards so it's possible to use Eon, without linking it to Paypal. Just ask their support staff first, to be sure.

Good luck...
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Aug 02, 2012, 12:52 PM
thanks for the heads up. i would like to setup an account first, know if such account has no issue, ready for funding/withdrawal, before i even bother myself with the technicals of trading.

i did the same with my stocks trading account. i like to put real money on the line which makes things a bit realistic since true emotions is on the mix.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 02, 2012, 10:46 PM
emotions can still be on the mix even when you trade demo.
you just have to trade demo the same way you intend to trade your live account.
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Aug 03, 2012, 06:43 AM
i wouldn't agree on that kasi trading demo is like trading nothing. you can be serious, or you can choose to be serious.

my personality fits the "i can be serious" category. that's why i put real money right away. its part of the investment rin naman.

i am trading demo, of course to test some trading scheme, but i want to try a trade plan right away on live account and see if it works or not, and see how my emotion would affect the trade.

i was hoping that the thread provides definitive answers. i know that people shouldn't dive into real money trading without practice, but please, don't push such agenda on all the so-called newbies.

its a simple question, what broker and how to fund the account. that's it.

guess i just have to look somewhere else.

and by the way, @Prospera, thanks for the feedback about Pepperstone.


Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Aug 03, 2012, 10:10 AM
^Hi, jane. Please don't misunderstand; fE means well. (He's a grizzled FX war vet, fyi.)

At any rate, there are many ways to skin a cat, as they say. Feel free to go with whatever feels right for you.

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 03, 2012, 10:11 AM
jane,
demo is being 'pushed' because it is the BEST THING to say to newcomers. it is for your own good.

FYI, i nearly had 0% demo from the start.

if you really want to experience the thrill of live trading, i challenge you to open a 4 to 6-digit $ account and trade it live upfront. maybe then you will realize what we are talking about. you will be humbled by the market, sooner or later.

if you have the money to open such account, you are very lucky, not many Pinoys can do so.
but having substantial money does not necessarily give you a license to trade live immediately.
it's just like driving a car. having the car key or license does not mean you are ready to drive.

by the way, if you think it's a simple question, how come you have not found the answer yourself? :)



Thanks, Ma'am Prospera  :D
yes, every one has the freedom of choice. most people prefer to stumble than listen to those who have stumbled before them. having said that, I appreciate extra liquidity in the market. :hello:
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Aug 03, 2012, 04:39 PM
gosh, the question was posted on a forum supposedly for newbies. i am a newbie and i was expecting that asking what broker and how to fund my account is a simple enough questions for so-called experts.

dont throw the question back at me. i meant simple for those who know the way around, for those who are trading live and have funded and withdrawn account with no problem. im getting feedback if such broker has no issue. why is it important? its important so id know how these brokers treat filipino investors. we know that hassle of going from one site to another and cashed in or even cashed out.

and please, dont dare challenge someone you dont know. who are you to be so authoritative? i ask a simple question, what you can do for me is to answer what broker you would recommend and how the funds are going to move in and out. that's it. simple di ba? that's part of a newbie guide. i want to get into details of the broker right away. the fees, how to fund account, withdraw, what docs i need to send, etc.

and please, stop pushing agenda kasi di lahat ng noob, walang alam tumapak sa 2nd step ng staircase.

and i thought that this is a friendly site. grabe. newbie guide nga for trading forex. FYI, knowing what broker you guys are using in active trading is the only info i was asking about. i dont care if i dont know how to trade. common sense na rin ata na pag-aaralan ko mag-trade. di naman po kasi ako tanga at nagyayabang na mag-trade ng live account agad.

yun lang naman po. i know the broker, i setup the account, fund the account, and use their demo account, get to know them well, etc. yun lang. same thing i did with my stock broker. i applied for live account agad, funded the account and familiarize myself with the t+3 settlement and some fees. that's me.

grabe, may pa-dare dare pa kala mo kung sino. please, have ethics on forum sites naman. di mo naman kilala mga tao dito, assume ka lang porke newbie.

Title: Re: Newbie Guide to Forex Trading
Post by: george88 on Aug 03, 2012, 05:22 PM
mam jane_p gusto mo po ng magnum? ano flavor gusto mo almond, classic or choco?
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Aug 03, 2012, 06:10 PM
Newbie or Pro, at Forex trading, we have our own approach to the market...and i hope everybody here will understand that.  Guys you are free to give some helpful advice and tips..but never  push the investors or individual to believe in your own opinions.. its up to them if they want to take it as a negative and or as a positive .. at the end of the day their decisions will rule...


Happy Trading to everyone here.....
Title: Re: Newbie Guide to Forex Trading
Post by: jane_p on Aug 03, 2012, 06:27 PM
i work like this.

give me the project, fees, how to get my money or give you the money. i deal with financial channels first before going to technical aspects. i dont like wasting time on training at something and expecting that i wont encounter issues when setting up my account. i want details at hand right away, but that doesnt mean that im going to use such account right away. fund it, yes. maybe trade some lots as well. im not a noob when it comes to stop loss, trailing stops, ema, or technical analysis in general. i have a background as well in international business and finance cause of my work.

i asked an honest question. what broker is best and how to fund the account. but people chose to answer differently rather than give accurate details or suggestions. they assumed that such account will be used right away, they assumed that im a big time trader, pralala, etc.

ive known these principles since i was in college pa. kaya lang sana, if someone is a noob, when they are being honest that they are, answer question na lang to keep the discussion healthy.

like "i use oanda and i fund it with paypal"

-- that's a start. then i'll be able to research further why oanda and know as well if the sentiments of filipino forex traders are the same with such broker. how complicated is that?

but since no one wants to answer the question, except for @Prospera. i'll just look somewhere else. maybe on another site where noobs are not being treated literally as such.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 03, 2012, 07:55 PM
wow, in effect pa rin ang full moon  :D

i work like this.
give me the project, fees, how to get my money or give you the money.
i asked an honest question. what broker is best and how to fund the account
I never treated u as a newcomer, & I was right
im a freelance equity analyst, covering local and asian markets
kala ko self-reliant ka kaya hindi ko sinubo sayo lahat

the 'broker question' has been asked & replied to many times.
walang 'best broker' since kanya kanya tayo ng taste. gaya ni Ma'am Prospera, she has tested several.
if u really want the best brokers, go test the prime brokers.
reading back on posts will also help.
by the way, walang expert dito.
Title: Re: Newbie Guide to Forex Trading
Post by: Ageo on Aug 03, 2012, 10:13 PM
pareho namang tama. cguro, sometimes messages are read and understand in a different tone or meaning. daming result yan mga opinions na yan e, sa akin i keep on my self na dapat maging cautious ako or mag aral pa ng husto regarding forex. kita mo na lng yung mga advise sa itaas. whoa!
pero i really love this thread forex, gusto ko itong maging 1 of my souce of income kapag mag retire na ako.. 2 or 3 years from now. so i have still more time to study.  just what fe pointing out.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Aug 05, 2012, 08:21 AM
Jane_p,

i suggest oanda...

no problem encountered so far...

i fund it through paypal using Unionbank's Eon...

withrawals can take 1 week, but mostly the lag is on paypal, but all withdrawals made it through so far...

another feature i like abt oanda is the ease on setting up sub accounts just in case u have several set up's...

their news calendar is also top notch...

hope this helps...
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi on Aug 10, 2012, 08:52 AM
practice account ko is oanda. sa forex po ba, if mag-trade na talaga, okey lang ba starting capital na $50. anu po ba maganda leverage setting? maximum sa oanda is 50:1.

yung practice account has $50 then ang leverage is 30:1. pero di ko pa rin talaga ma-gets panu compute yun.

then sa demo, may entry dun sa mga closed orders na interest earned. anu po yun?

dagdag pa po pala, if baguhan, sa demo o live, anu po ba pair maganda? mas okey ba focus lang muna sa isang pair like sa major eur/usd?
Title: Re: Newbie Guide to Forex Trading
Post by: jhunior on Aug 15, 2012, 12:26 PM
while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket? I'm not sure if  what I'm saying is right? But I think it will be a great thing to have something like that. The big question is... where can we get something like an automated system that is reliable and proven that it has minimal lost, so that newbies like me could benefit from it without the hassles or complications of graphs and chart. :D

For automated system i open an account to MMA BANK which they accept $5,000 minimum investment you will get 10% monthly income.  I open an account here in Dubai and you may open an account thru internet. They will send you a contract to sign.

while reading some post I've seen some people using automated systems instead of manual, w/c do you guys think is more preferable? I'm leaning towards trying automated because, it could run on its own like a no-brainer bot? that just puts money in your pocket? I'm not sure if  what I'm saying is right? But I think it will be a great thing to have something like that. The big question is... where can we get something like an automated system that is reliable and proven that it has minimal lost, so that newbies like me could benefit from it without the hassles or complications of graphs and chart. :D
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Aug 15, 2012, 03:56 PM
i opened an accout with bforex and oanda. For now, I only funded the oanda account with starting $250. For 5 days now I have gained a realized profit of $27. Everyday morning, as I wake up and done praying, I always check my account. It's quiet interesting because I was able to analyze fundamentally and technically.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Aug 15, 2012, 09:08 PM
^^^ hmmm, i'll try that one...praying before trading :D
Title: Re: Newbie Guide to Forex Trading
Post by: EuroatYenpo on Aug 15, 2012, 09:53 PM
I agree, all He asks is for you too seek Him and He will do the rest. I was lost in trading until He thought me how. It is all about balance,....  :D
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 16, 2012, 09:46 AM
practice account ko is oanda. sa forex po ba, if mag-trade na talaga, okey lang ba starting capital na $50. anu po ba maganda leverage setting? maximum sa oanda is 50:1.
ok lang kahit magkano.
mas ok kung babaan mo yung leverage +/- 20:1. mas mababa, mas maganda, mas mahaba buhay ng account mo (lalo na kung conservative ka).
yung interes, parang bangko yan, kumikita ng interes yung account mo.
ok rin na magfocus ka muna sa isang pair, gaya ng eurusd. pag sanay ka na, try mo rin yung iba.
make sure basahin mo yung user guide sa Oanda platform, para iwas magkamali/disgrasya.

i opened an accout with bforex and oanda. For now, I only funded the oanda account with starting $250. For 5 days now I have gained a realized profit of $27.
ano po leverage nyo Sir? mas advisable mas mababang leverage.
Good luck and ingat  :rakenrol:
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Aug 16, 2012, 03:38 PM
^^ sa mga beginners mas mainam 20:1 leverage pero kung expert na pwede na yung 50:1... It takes a lot of experience and losses..
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Aug 17, 2012, 08:36 AM
Is anyone here trading USDJPY?  ;)  Breaking above barrier of 79.12 exposes the new upward trend high of 79.60 and next is 79.90..But support now is in 78.80 ;)

 Happy Trading to everyone here..Make your day productive..

Twitter: The_trader101

Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Aug 20, 2012, 08:46 AM
^
ako din baguhan micro account first month ko 60% kinita pero kinain ulit ng market makalipas sa 2nd month draw down pa haha

@wannaBe
meron k n bang algorithm para sa EA mo? :D mukang madali lng nman ang mql4 structured programming ang dating pero d ako sure konting sulyap p lng kasi :D, ako rin programmer sa java pero student p lng ako.. sana makakapost tayo dito balang araw ng EA ideas..etc. :D

hmmm.. I suggest the following for starters.

have this to get the ball rolling.
1.Money that you can actually afford to throw it away.
2.Patience
3.learn learn and learn.

haha minsan yun number parang sugal pero ganun tlga kailangan subukan
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Aug 22, 2012, 09:15 AM
saw a post ni boss senyor sa active trading discussion where he suggested a stock trading strategy para sa mga natalo sa forex... am just curious how many forex traders here trade other financial instruments like stocks, futures, or kahit sports trading?
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Aug 22, 2012, 04:01 PM
What went wrong sometimes in Forex Trading ....


Targeting a profit for in 1 month in a single trade
Lack of market observation
Over Trading
Impatient
High volume resulting to close in negative in short period of time
Chasing the market when it's starting to move fast
Opening a position just right after the data is released
Monitoring more than 4 currency pairs
Wanting to recover as soon as a trade closed in negative believing with own analysis
Not believing with own analysis
Over confident ven if the trade is bad because of great profit and trade the day/week before
Being too much GREEDY


From one of my mentors :)
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Aug 22, 2012, 04:11 PM
Wanting to recover as soon as a trade closed in negative believing with own analysis
Not believing with own analysis


parang conflicting ata?
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Aug 22, 2012, 05:58 PM
Is anyone here trading USDJPY?  ;)  Breaking above barrier of 79.12 exposes the new upward trend high of 79.60 and next is 79.90..But support now is in 78.80 ;)

 Happy Trading to everyone here..Make your day productive..

Twitter: The_trader101



Medyo risky ngayon mag place sa USPJPY, upward ang trend ng you'll never know when it will go down, try to analyze more, check the trend from last months movement...
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Aug 22, 2012, 09:11 PM
What went wrong sometimes in Forex Trading ....


Targeting a profit for in 1 month in a single trade
Lack of market observation
Over Trading
Impatient
High volume resulting to close in negative in short period of time
Chasing the market when it's starting to move fast
Opening a position just right after the data is released
Monitoring more than 4 currency pairs
Wanting to recover as soon as a trade closed in negative believing with own analysis
Not believing with own analysis
Over confident ven if the trade is bad because of great profit and trade the day/week before
Being too much GREEDY


From one of my mentors :)
at kapag matatalo wag isiping katapusan n ng mundo :D
matuto sa pagkatalo :D
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Aug 23, 2012, 02:20 PM
I am experiencing a dramatic unrealized loss, insha-allah it will recover very soon...
Title: Re: Newbie Guide to Forex Trading
Post by: romnickhudges on Aug 26, 2012, 06:44 PM
Obviously, forex trading is very risky specially if you are not familiar with the whole process might as well on how this investment works. Forex is winning and losing but it depends on where you put your money that is why it is recommendable to know the process before venturing in forex trading.



Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Aug 28, 2012, 06:42 AM
guys, nakalimutan ko yung email ko dito sa forum, kaya username ko is "batangpromdi_v2", version 2 na.. hehe..

anyways, struggling ako sa forex, even sa practice account pa lang. di ko kasi alam san mag-start, mga resources, etc. minsan, nakaka-gain naman ako, problem is i don't know how i got to that point.

may alam naman ako sa forex industry. yung part lang ng pag-analyze ako hirap. gamit ko support and resistance lang. then, yung part ng news releases medyo di ko gets anu bang news ang dapat i-consider dun, moving average na dapat, etc.

Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 28, 2012, 03:00 PM
bloomerman,
kamusta po yung trade nyo? nag-exit na ba kayo?
practice po muna kayo bago mag-live trade.
i am sure na-excite kayo dun sa nakita nyong floating/realized profit dun sa unang trade nyo kaya nagpatuloy kayo. understand na mabubura agad yugn profits nyo pag d muna kayo nag-aral/practice.


batangpromdi v2,
Sir magbasa lang kayo sa babypips school of pipsology. i-search nyo yan.
saka aralin nyo yung james16 thread sa forexfactory.com (yung link nasa first post ko sa thread ko http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0 )
dami pa links jan sa first po ko sa thread ko

puro support resistance ang main topic dun sa james16 thread kaya bagay sayo yun. member din ako jan sa forum since 2009.


since nag uumpisa ka pa lang, i highly suggest ituloy mo ang demo account mo at wag mo na muna pansinin ang news kasi pampagulo lang yan sa utak. you CAN trade kahit walang news, basta magaling ka sa technical analysis.
kung gusto mo magbasa ng news, pwede naman pero wag muna ngayon para makapagfocus ka sa chart/analysis mo.
mahirap kasi magtrade pag maraming indicators, news or 'information overload'
para sa Moving Averages, pwede ka magexperimento. walang tama or mali na MA. pagdating sa indicators, etc., bawat trader iba iba ang ginagamit.

kung may alam ka na sa support-resistance, it means nag-aanalyze ka na.so hindi ka na ganun ka 'hirap' mag-analyze, that is one giant step, ituloy mo lang yan at lalawak din po ang experience nyo. kung sanay ka nang walang indicators at purely S-R lang ang gamit, pwede rin yun.

sobrang busy na ngayon, (trading my account and a client account, etc.) kaya d na nakaka post. pero kung may gusto ka itanong specially about technical analysis, PM mo lang ako Sir. libre naman ang PM :D

Good luck!
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Aug 28, 2012, 03:57 PM
Utang na LOOB. Gawin nyo ang sinasabi ni sir Ferrari.
Pasadahan ang Babypips.
Huwag maniniwala sa balita.
Dis information karaniwan dyan 90%.

Respetuhin ang Relative Strength (H1 at H4 lang)


Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 28, 2012, 04:07 PM
ang news - disinformation and or late information :D
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Aug 28, 2012, 05:57 PM
TAMA! TUMPAK! 3 ways lang ang market .. Up - Down - Sideways :)

Saka ka na maniwala sa news kapag World War 3 na or na wipe out ang buong Eurozone kasi hindi nila na meet ang deadline early September hahahaha!
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Aug 28, 2012, 06:57 PM
bloomerman,
kamusta po yung trade nyo? nag-exit na ba kayo?
practice po muna kayo bago mag-live trade.
i am sure na-excite kayo dun sa nakita nyong floating/realized profit dun sa unang trade nyo kaya nagpatuloy kayo. understand na mabubura agad yugn profits nyo pag d muna kayo nag-aral/practice.


batangpromdi v2,
Sir magbasa lang kayo sa babypips school of pipsology. i-search nyo yan.
saka aralin nyo yung james16 thread sa forexfactory.com (yung link nasa first post ko sa thread ko http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0 )
dami pa links jan sa first po ko sa thread ko

puro support resistance ang main topic dun sa james16 thread kaya bagay sayo yun. member din ako jan sa forum since 2009.


since nag uumpisa ka pa lang, i highly suggest ituloy mo ang demo account mo at wag mo na muna pansinin ang news kasi pampagulo lang yan sa utak. you CAN trade kahit walang news, basta magaling ka sa technical analysis.
kung gusto mo magbasa ng news, pwede naman pero wag muna ngayon para makapagfocus ka sa chart/analysis mo.
mahirap kasi magtrade pag maraming indicators, news or 'information overload'
para sa Moving Averages, pwede ka magexperimento. walang tama or mali na MA. pagdating sa indicators, etc., bawat trader iba iba ang ginagamit.

kung may alam ka na sa support-resistance, it means nag-aanalyze ka na.so hindi ka na ganun ka 'hirap' mag-analyze, that is one giant step, ituloy mo lang yan at lalawak din po ang experience nyo. kung sanay ka nang walang indicators at purely S-R lang ang gamit, pwede rin yun.

sobrang busy na ngayon, (trading my account and a client account, etc.) kaya d na nakaka post. pero kung may gusto ka itanong specially about technical analysis, PM mo lang ako Sir. libre naman ang PM :D

Good luck!

So far, I'm still on the losing trend, hoping for recovery for this week.. Well nagpractice na ako before.. may pagkakataon talagang ndi mo expected yung result, ganun talaga eh... trial and error... atleast i will be better thinker next time.. Thanks for the concern... Good Luck...
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 29, 2012, 06:01 PM
gano katagal na po kayo nagpractice?
ok po yan, tuloy tuloy nyo lang! :cool2:
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Sep 01, 2012, 08:52 PM
bloomerman,
kamusta po yung trade nyo? nag-exit na ba kayo?
practice po muna kayo bago mag-live trade.
i am sure na-excite kayo dun sa nakita nyong floating/realized profit dun sa unang trade nyo kaya nagpatuloy kayo. understand na mabubura agad yugn profits nyo pag d muna kayo nag-aral/practice.


batangpromdi v2,
Sir magbasa lang kayo sa babypips school of pipsology. i-search nyo yan.
saka aralin nyo yung james16 thread sa forexfactory.com (yung link nasa first post ko sa thread ko http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0 )
dami pa links jan sa first po ko sa thread ko

puro support resistance ang main topic dun sa james16 thread kaya bagay sayo yun. member din ako jan sa forum since 2009.


since nag uumpisa ka pa lang, i highly suggest ituloy mo ang demo account mo at wag mo na muna pansinin ang news kasi pampagulo lang yan sa utak. you CAN trade kahit walang news, basta magaling ka sa technical analysis.
kung gusto mo magbasa ng news, pwede naman pero wag muna ngayon para makapagfocus ka sa chart/analysis mo.
mahirap kasi magtrade pag maraming indicators, news or 'information overload'
para sa Moving Averages, pwede ka magexperimento. walang tama or mali na MA. pagdating sa indicators, etc., bawat trader iba iba ang ginagamit.

kung may alam ka na sa support-resistance, it means nag-aanalyze ka na.so hindi ka na ganun ka 'hirap' mag-analyze, that is one giant step, ituloy mo lang yan at lalawak din po ang experience nyo. kung sanay ka nang walang indicators at purely S-R lang ang gamit, pwede rin yun.

sobrang busy na ngayon, (trading my account and a client account, etc.) kaya d na nakaka post. pero kung may gusto ka itanong specially about technical analysis, PM mo lang ako Sir. libre naman ang PM :D

Good luck!

Tama, know the basics so that it will be easier for you to adapt and learn along the way...but I am not saying that it will always be a positive trade...

Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Sep 02, 2012, 11:38 PM
i feel very sorry for those who are enticed by such ads. to think Forex sounded so easy...if they only knew the risk...i fear some of them someday might fall victims to burned accounts...parang napaka positive ng ad nya, parang a walk in the park..tsk tsk...

http://www.facebook.com/JohnCalubTraining?ref=stream (http://www.facebook.com/JohnCalubTraining?ref=stream)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 03, 2012, 12:28 AM
^ bakit ganun yung nasa fb, parang pang mlm yung dating? Di kaya may commission sya sa bawat member na maire-refer nya dun sa trading platform?
and one more thing, very lucrative ads.
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Sep 03, 2012, 01:19 AM
i feel very sorry for those who are enticed by such ads. to think Forex sounded so easy...if they only knew the risk...i fear some of them someday might fall victims to burned accounts...parang napaka positive ng ad nya, parang a walk in the park..tsk tsk...

http://www.facebook.com/JohnCalubTraining?ref=stream (http://www.facebook.com/JohnCalubTraining?ref=stream)

matagal na bang nagpopromote nf forex itong si Calub? Matagl ko na nakikita yung "money magnet" seminars niya pero haven't heard of him promoting forex.. Ano to, naisip lang niya na mabenta ito sa mga tao kaya nag forex seminar na siya? kung ganun lang pala magseseminar na lang din ako, mas hamak naman na mas pogi ako kay calub.. tapos gamitin ko sa presentation ko yung PRE-SCHOOL ng babypips. Kasya na yon 4 hours seminar. :D
Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Sep 03, 2012, 11:22 AM
@Freeman sa panahon ngayon versatile na ang monkey business, not sure kung naging MLM na itong forex traning course nya or other related forex business under nya. mas business nya ang pag turo kaysa sa pag trade...i even doubt he trades forex.

@Totscalilari well siguro bagong pakulo, basta may maituro at kahit walang proof or background sa kanyang trade performance (kung meron). at naks naman baka mas gwaping ka pa nga kaysa kanya. :D
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 03, 2012, 11:58 AM
@Lightwind_99, may ilang websites sya na di lang forex ang tinuturo nya, may marketing training din..

http://johncalubtraining.com/ (http://johncalubtraining.com/)
http://www.firewalkphilippines.com/ (http://www.firewalkphilippines.com/)

siguro yung seminars about forex ang latest nya.

@totscalilari bro baka di lang ikaw maging "money magnet" pati "chiks magnet" na din. hehe!
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Sep 03, 2012, 08:28 PM
Hmm John Calub? Eh motivitional speaker to eh ..
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 06, 2012, 08:22 AM
magaling mag motivate while nasa seminar premises ka. pag labas mo ng seminar, you are on your own. ikaw bahala mag motivate sa sarili mo :D
Title: Re: Newbie Guide to Forex Trading
Post by: jmiyake on Sep 17, 2012, 04:28 PM
@Lightwind_99, may ilang websites sya na di lang forex ang tinuturo nya, may marketing training din..

http://johncalubtraining.com/ (http://johncalubtraining.com/)
http://www.firewalkphilippines.com/ (http://www.firewalkphilippines.com/)

siguro latest yung seminars about forex ang latest nya.

@totscalilari bro baka di lang ikaw maging "money magnet" pati "chiks magnet" na din. hehe!

if it talks about marketing then that is a "red flag" for you...

Title: Re: Newbie Guide to Forex Trading
Post by: alchemist625 on Sep 17, 2012, 08:38 PM
Hi!

Im planning to go live trading in a month or two. Ok po ba alpari? Try ko ngayon demo nila ng mt5. Ano po bang best way in funding the account, paypal, credit card, bank transfer, etc?

Thanks!
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 18, 2012, 01:09 PM
@alchemist bro gano katagal ka nag demo account?

May demo account ako sa etoro, saka sa oanda, ang ginagawa ko, yung "sentiment" na more than 95% dun sa etoro, ini-aaply ko sa oanda. hehe, kopya lang ba.

(http://i46.tinypic.com/2551e9y.jpg) (http://i46.tinypic.com/2551e9y.jpg) (http://i49.tinypic.com/jzy9gz.jpg) (http://i49.tinypic.com/jzy9gz.jpg)

btw, i'm still studying at babypips  :book:


Post Merge: 1347944940
if it talks about marketing then that is a "red flag" for you...

oo nga e, parang something smells fishy. :p
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Sep 18, 2012, 01:23 PM
Hi.

             To those who wants to start the trading in Forex, we will conduct a quick seminar on September 19, 4:00 PM Here along Ayala avenue. 

            Kindly PM me for those who are interested and ready to gain!!

We will reserve you a slot for Wednesday seminar. See you!!

Happy Trading!!

Here is my mobile no.
Hazel - 09162773198
Title: Re: Newbie Guide to Forex Trading
Post by: axljackass on Sep 18, 2012, 03:40 PM
any schedule mam next month?oct22-30 baka may available scheds kayo nito?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 18, 2012, 03:57 PM
Hi.
hi. which company are you associated with?
may bucket shop/scam brokers jan sa makati/ayala. (i personally know of at least 1-2. not sure kung existing pa sila or nagbago ng pangalan/location)

thanks
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 18, 2012, 05:17 PM
Bilib talaga ako kay fE, walang sawa sa pag alaga ng mga gustong mag forex kahit di sya binabayaran hehehe I'm sure maraming a-attend pag ikaw nagpa seminar =)

Sa mga starting pa lang, pagsabayin nyo yung reading at demo account. Learn from the people here and elsewhere. Good luck to everyone!
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Sep 18, 2012, 06:53 PM
Hi forex newbie here, anybody here tried the 2 day seminar of admiral markets, ok ba? do they try to sell you hard after the seminar?
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Sep 18, 2012, 10:30 PM
hi. which company are you associated with?
may bucket shop/scam brokers jan sa makati/ayala. (i personally know of at least 1-2. not sure kung existing pa sila or nagbago ng pangalan/location)

thanks


Hi boss ferrari,
 
           You are right, there are bucket of scams and they are anywhere, my advice to all the newbie here in Forex, is to do the rigid research and investigate the company whom invited them.


       Another thing we will conduct the training for free to promote FX Trading here in The Philippines.
And also to expand here anywhere nationwide. We are looking forward to help educate those who really have interest in Forex..

           Hindi maiwasan na nabahiran na ng hindi maganda ang FOREX due to previous companies na mga na patunayan na sila ay kabilang sa  SCAM. Katulad na lang ni ano...___ at si ano during 2005___ tapos nadamay si ano ______ nung 2007, then recently i visited one of the office in Makati i found out that the license e iba sa transaction sa loob...hihi..marami yan dito, doon, jan sa corner lang.. kahit saan naman. Masusing pag iingat ang dapat nating gawin bago tayo maki venture sa knila.

        PM me sir if you want to know our firms so we can personally invite you in our office, for you to find out if yun yung company po na alam nyo na scam. ;)

BABALA!!! Be vigilant.. mahirap na..
 


Market Outlook: Consolidation is the game for USD/JPY and EUR/USD
Tips: *Trade safely, worriesome for daily movement for EUR/USD
        * USD/JPY continue to rally.. bullish once it breaks the 79.10 expect to continue to     
           spike
Reminder:  Face your fear, Make your trade Plan, execute it. Practice putting stop loss before its too late. No blame game... The price of greatness is responsibilty ;)

Happy Trading!!
Title: Re: Newbie Guide to Forex Trading
Post by: alchemist625 on Sep 18, 2012, 11:31 PM
@freeman12 Nagtry na ako ng demo account ng fxcm dati, pero hindi ko gusto ang platform na nadownload ko (not mt4). Tsaka hindi ko pa maintindihan noong time na iyon kaya wala pa yatang isang buwan hindi ko na siya ginamit ulit. Ngayon, nagtry ako ng mt5 ng alpari e mukhang mas nagenjoy ako aralin. Magiisang buwan na rin. Natapos ko na babypips, pero binabalik-balikan ko pa rin kasi di pa kaya ng powers ko intindihin ang technical indicators and kung paano ko implement ngayon sa demo account ko. E dati kasi parang run through lang ang reading ko. Nagbabasa rin ako ng ebooks on forex, para sigurado kapag nagtrade na ako ng live e alam ko na talaga. Paano iyong pagcopy mo ng sentiment? Gumamit ka rin ng indicators kasabay ng pagcopy ng sentiment trades?
 
ty
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 19, 2012, 08:17 AM
Bilib talaga ako kay fE, walang sawa sa pag alaga ng mga gustong mag forex kahit di sya binabayaran hehehe I'm sure maraming a-attend pag ikaw nagpa seminar =)

Sa mga starting pa lang, pagsabayin nyo yung reading at demo account. Learn from the people here and elsewhere. Good luck to everyone!
LOLOLOLOL
salamat Sir. d naman ako magaling magseminar. mas marunong ako magtrade. wala kayo maiintindihan pag ako ang nagseminar. :watchuthink: saka girls lang ang sineseminar ko, mas masarap kasi sila turuan  :D pag babae libre, pag lalake may bayad  :D

Hi forex newbie here, anybody here tried the 2 day seminar of admiral markets, ok ba? do they try to sell you hard after the seminar?
hard sell? soft sell? of course, that is a given.
understand that brokers EXIST to make money off of YOU. Sir, ask yourself bakit sila mag ooffer ng Free seminar kung walang kapalit. syempre gusto nila mag open ka ng account sa kanila.

by the way, kung ano man matututunan mo sa seminar nila, i am 10000% sure na kung ano man yun, it's available sa internet. just open your computer, do a search, ok na, d mo na kailangan bumyahe at gumastos ng pamasahe at gas.
 kung gusto mo magtanong, nanjan po ang forums (local or international).

hope this helps a bit

        PM me sir if you want to know our firms so we can personally invite you in our office, for you to find out if yun yung company po na alam nyo na scam. ;)
d po ako boss, bata pa ako. 30 pa lang ako at mukha pang 20  :watchuthink:, so no need to call me boss. :D

with all due respect, i posed a simple question.
which company are you associated with?
i do not need to PM you or visit your office. kindly state the name of your firm, at most likely kilala ko name ng kumpanya nyo. if not, i can do a simple internet search to check your credentials.

as far as i am concerned, walang matino at regulated retail broker sa Pinas. kung meron man, which I highly doubt at this point, walang ngipin ang batas/SEC ng bansa natin. saka ang dali dali mag open ng account sa online at well-regulated brokers.

i've been trading since 2005. the company that scammed me then ay makati-based din. i am very thankful kasi that started my trading journey. gaya ng sabi ko, alam kong may mga brokers jan sa makati. at mas dadami pa yan in the near future.

please, no need to beat around the bush with me.

Natapos ko na babypips, pero binabalik-balikan ko pa rin kasi di pa kaya ng powers ko intindihin ang technical indicators and kung paano ko implement ngayon sa demo account ko. E dati kasi parang run through lang ang reading ko. Nagbabasa rin ako ng ebooks on forex, para sigurado kapag nagtrade na ako ng live e alam ko na talaga. Paano iyong pagcopy mo ng sentiment? Gumamit ka rin ng indicators kasabay ng pagcopy ng sentiment trades?
wag mag alala Sir. it takes time to learn. may proseso.
d rin kailangan intindihin lahat ng indicators. pili ka ng 1-3 indicators at magfocus ka dun. kabisaduhin mo.
yung pagcopy ng sentiment, d ko sure kung pag copy ng buy/sell signal yan. it is an unhealthy practice, make sure intindihin nyong mabuti or better kung iiwasan nyo.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 19, 2012, 09:33 AM
@freeman12 Nagtry na ako ng demo account ng fxcm dati, pero hindi ko gusto ang platform na nadownload ko (not mt4). Tsaka hindi ko pa maintindihan noong time na iyon kaya wala pa yatang isang buwan hindi ko na siya ginamit ulit. Ngayon, nagtry ako ng mt5 ng alpari e mukhang mas nagenjoy ako aralin. Magiisang buwan na rin. Natapos ko na babypips, pero binabalik-balikan ko pa rin kasi di pa kaya ng powers ko intindihin ang technical indicators and kung paano ko implement ngayon sa demo account ko. E dati kasi parang run through lang ang reading ko. Nagbabasa rin ako ng ebooks on forex, para sigurado kapag nagtrade na ako ng live e alam ko na talaga. Paano iyong pagcopy mo ng sentiment? Gumamit ka rin ng indicators kasabay ng pagcopy ng sentiment trades?
 
ty

Sige try ko din yung mt5 ng alpari. Dun naman sa "sentiment" term kasi sya na ginagamit ng etoro, parang mangongopya ka lang ng desisyon ng most of the traders sa etoro (tito sotto style!), kung buy or sell.  gumagamit din ako ng support and resistance along with live charts (pero syempre hirap pa din), and i tried to apply it on oanda demo , kumita sya ng konti, pero for a short period of time lang.

it is an unhealthy practice, make sure intindihin nyong mabuti or better kung iiwasan nyo.

Unhealthy indeed sir,  Sa totoo lang, nakakabobo yung pangongopya. :hmmph: di ka matututo ng actual trading. (my bad, sinubukan ko lang naman po :hihi: :D )
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Sep 19, 2012, 09:55 AM
hard sell? soft sell? of course, that is a given.
understand that brokers EXIST to make money off of YOU. Sir, ask yourself bakit sila mag ooffer ng Free seminar kung walang kapalit. syempre gusto nila mag open ka ng account sa kanila.

by the way, kung ano man matututunan mo sa seminar nila, i am 10000% sure na kung ano man yun, it's available sa internet. just open your computer, do a search, ok na, d mo na kailangan bumyahe at gumastos ng pamasahe at gas.
 kung gusto mo magtanong, nanjan po ang forums (local or international).

@Ferrarieverest thanks for your feedback, understand that they eventually wants me open an account which is ok lang because they invested time and effort, and i do plan really to open an account, just soliciting feedback if they are a good company to put some funds there.
Title: Re: Newbie Guide to Forex Trading
Post by: alchemist625 on Sep 19, 2012, 11:03 AM
wag mag alala Sir. it takes time to learn. may proseso.
d rin kailangan intindihin lahat ng indicators. pili ka ng 1-3 indicators at magfocus ka dun. kabisaduhin mo.
yung pagcopy ng sentiment, d ko sure kung pag copy ng buy/sell signal yan. it is an unhealthy practice, make sure intindihin nyong mabuti or better kung iiwasan nyo.

Sa ngayon Sir FE ADX and Support/Resistance lang ginagamit ko. Inaaral ko pa pa ung iba para may confirmation. So far it works for me...wala pa naman losses e.  :D   :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 19, 2012, 12:16 PM
Sige fE, ipasa mo na lang sa amin yung mga naturuan mong babae para sila na lang mag seminar sa amin kahit bayaran pa namin sila hahahaha!

Just a word guys on emotions in trading. In truth, there is no way to explain this. But when I was doing a demo account, I can open a trade then go to sleep. Check again next morning if it went well. Now, with a live account, I can't even take my eyes off the screen once I initiate a trade, even if I've done the exact same trade many times in the past. Because of this, I somehow turned very conservative which is not ideal for forex trading. Go figure.
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 19, 2012, 07:08 PM
Sige fE, ipasa mo na lang sa amin yung mga naturuan mong babae para sila na lang mag seminar sa amin kahit bayaran pa namin sila hahahaha!

Just a word guys on emotions in trading. In truth, there is no way to explain this. But when I was doing a demo account, I can open a trade then go to sleep. Check again next morning if it went well. Now, with a live account, I can't even take my eyes off the screen once I initiate a trade, even if I've done the exact same trade many times in the past. Because of this, I somehow turned very conservative which is not ideal for forex trading. Go figure.
Sir which currency do you trade? did trade today?

Post Merge: 1348089337
Sir which currency do you trade? did trade today?
I mean did u trade today?
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 20, 2012, 10:14 AM
@Calbert

I'm mostly on EUR/USD and USD/CHF. I am also studying AUD/USD and GBP/JPY.

Was not able to trade yesterday because of work hehehe sagabal talaga ang trabaho sa trading =) But when I was able to check the chart last night, EUR/USD looks like a sell since monday after the big run up the past two weeks. Caveat please, this is not an advise to buy to sell.
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 20, 2012, 11:17 AM
if you trade yesterday and go for short you have earn a few pips sana, i trade short yesterday and got around 50 pips :)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 20, 2012, 11:51 AM
ang galing ng fib support and resitance! kahit downwards yung trend, you can still earn some pips kahit mag buy ka.
just executed a successful trade yesterday by going long on USD/JPY kahit downwards ang trend.
pero syempre, demo pa lang po, still a loooooong way to go.  :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: Lightwind_99 on Sep 20, 2012, 01:38 PM
guys could you post your trades and charts, mas maganda may picture para maview namin yung trade set up ninyo.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 20, 2012, 02:59 PM
if you trade yesterday and go for short you have earn a few pips sana, i trade short yesterday and got around 50 pips :)

Wow that's great! Ano lot size mo?

Post Merge: 1348124713
ang galing ng fib support and resitance! kahit downwards yung trend, you can still earn some pips kahit mag buy ka.
just executed a successful trade yesterday by going long on USD/JPY kahit downwards ang trend.
pero syempre, demo pa lang po, still a loooooong way to go.  :hihi:


Agree ako dyan. That's because we can look at 3 trends: Daily, 4 hours and 1 hour time frames. Kahit downward trend sa daily, pwede pa rin mag long if there is a buy signal in the 4 hour or 1 hour time frame.

If I remember correctly, parang nag letter V nga ba yung hourly chart ng USD/JPY kahapon?

Tama nga si Lightwind_99, pwede pa post ng charts for further learning ng lahat =) Kahit demo account pa gamit.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 20, 2012, 08:20 PM
guys, just gained some sa usd/jpy today. ang saya talaga, kahit sa demo lang! :D

napansin ko kasi na downtrend yung usd/jpy so sinubukan ko iapply yung fibs support and resistance along with 10ema & 20 ema.
(http://i47.tinypic.com/28lxlvo.jpg) (http://i47.tinypic.com/28lxlvo.jpg)

so what i did was, nag sell ako ng ilang trades nung pumalo sa fib 38.2, sell pa ulit nung umakyat sa lampas fib 50, wala din akong order na stop loss, take profit lang.

here's a screenshot of my oanda demo account: nagclose trade na lang ako dun sa mga last kasi paalis ako. :hihi:
(http://i49.tinypic.com/2pys0ma.jpg) (http://i49.tinypic.com/2pys0ma.jpg)

sayang, kung totoong pera lang sana ito, but still, VERY EXCITING!!!  :rakenrol:
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 20, 2012, 09:39 PM
Wow that's great! Ano lot size mo?

Post Merge: 1348124700
0.6 ang lot size :)

Agree ako dyan. That's because we can look at 3 trends: Daily, 4 hours and 1 hour time frames. Kahit downward trend sa daily, pwede pa rin mag long if there is a buy signal in the 4 hour or 1 hour time frame.

If I remember correctly, parang nag letter V nga ba yung hourly chart ng USD/JPY kahapon?

Tama nga si Lightwind_99, pwede pa post ng charts for further learning ng lahat =) Kahit demo account pa gamit.

Post Merge: 1348148458
tanong lang po paano mag post ng trading screen?
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 20, 2012, 09:49 PM
^^ Very nice! I'm attaching my USD/JPY chart. I using plain support and resistance. As I see it, it's on a downward trend on the daily chart since June. It's a very nice channel that can be used for possible swing trades. Buy when the price goes down to support and sell when it reaches the resistance. Of course, don't forget to watch for breakouts or breakdowns.

(http://i48.tinypic.com/ph1z.jpg)

Naku freeman12, ganyang ganyan din ako nung nasa demo account hehehe ang saya di ba kung totoong pera. Pero di ba, to do those exact trades in those exact amounts, we would need to have $100,000? Am I correct that you are trading 1 lot per trade? If our live account will have just $1,000, then a demo profit of $57 will only be $5.70.

I'm not being a spoilsport here, just wanted to share my realizations when I switched from demo to live.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 20, 2012, 09:52 PM

Post Merge: 1348148400
tanong lang po paano mag post ng trading screen?


1. click po dun sa window/browser  na gusto nyong i screenshot
2. tapos press yung "print screen" button sa keyboard
3. open mspaint tapos press "Crtl+V"
4. crop nyo na lang yung pic, or edit yung personal details, and save as "screenshot.JPG"

kapag ok na yung picture go to http://tinypic.com/ (http://tinypic.com/) para ma upload and maipost yung link/thumbnail dito sa pmt.

hope this helps :)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 20, 2012, 09:54 PM
@Calbert

hehehe naunahan ako ni freeman12. That's exactly what I did  :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 20, 2012, 09:55 PM
Naku freeman12, ganyang ganyan din ako nung nasa demo account hehehe ang saya di ba kung totoong pera. Pero di ba, to do those exact trades in those exact amounts, we would need to have $100,000? Am I correct that you are trading 1 lot per trade? If our live account will have just $1,000, then a demo profit of $57 will only be $5.70.

I'm not being a spoilsport here, just wanted to share my realizations when I switched from demo to live.

oo nga po e, eh sa $1000 parang ang hirap i-risk. baka di nako makatulog pag nag live ako. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 20, 2012, 10:13 PM
^^ Well, kaya while in demo pa lang, try to control the emotions na daw. Dapat mechanical. Pero that is so easy to say but so hard to do.. Yung mga veterans na po dyan, pa share how you did it =)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 21, 2012, 08:00 AM
bata pa ko d ako veteran ha, LOL.. magbabahagi lang ng konti

para d mangibabaw ang emotions, maghakot kayo ng knowledge at experience.
usually, emotions ang mangingibabaw pag d mo alam ang ginagawa mo, or when u lack the necessary knowledge/experience.

trade realistically sa demo. kung ang totoong capital nyo pag nag live trading is $100 or $1000, dapat yan din ang idedemo nyo, $100 or $1000 lang. wag nyo tanggapin yung $50k or $100k na demo offer ng brokers.
kung gusto mag live, pwede naman. mag umpisa sa $1 to $100, tapos gumamit ng mababang leverage (50:1 at mas mababa)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 21, 2012, 10:28 AM
Naka automatic kasi yung $100,000 sa demo... di ko na tiningnan kung paano ibaba sa $500. Pero ang ginawa ko, tiningnan ko kung anong lot size kung kakasya sa $500 na may buffer pa para di ma margin call. So I saw that I can trade from .1 to .3 lang. So yun ang ginawa ko.

Personal goal ko is mga 25 pips per closed trade. Target Price ko na yun para maiwasan ang greed. Psychological lang din yung $25 kasi equal na yun to P1000. So maka isang trade lang ako every day, parang P20,000 na pwede ko kitain na additional each month. Admittedly, this requires discipline which I am still working on.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 21, 2012, 11:32 AM
^ sa oanda pwede mong baguhin yung funds sa demo account. Thanks sa tip silent_investor, ibinaba ko yung available funds  to $1000.
ANG HIRAP PALAGUIN, $2-3 lang ang usually profit ko.  :wall:
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 21, 2012, 01:43 PM
Nice freeman12 hehe at least masanay ka na ngayon pa lang. Teka, $2-3 dollars na gain means kumita ka lang ng 2-3 pips di ba? Parang ang hirap ata nun...
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 21, 2012, 01:54 PM
^ oo ang baba, parang 1 pip sa usd/jpy ay $0.10 lang sa account ko, medyo magulo sa akin yung margin at leverage, di ko pa po masyado maintindihan.  :think:
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 21, 2012, 03:34 PM
oo nga po e, eh sa $1000 parang ang hirap i-risk. baka di nako makatulog pag nag live ako. :hihi:
Hay naku pre I already open live account of $900, I reach as of now $2,110 in just 12 days hehhee ... pre no risk no reward remember that :)
Para ganhan ka, open short at EURUSD below 1.3015 S/L 1.30 T/P 1.2920 then next 1.2920 ....

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then next T/P 1.2905 pala hehee :)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 21, 2012, 04:04 PM
@ Calbert

Tama ba, target profit mo is around 80 pips and using a lot size of .6?

Nag drop na nga EURUSD kanina...
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 21, 2012, 04:15 PM
:applause: galing ni bro calbert! di pa lang ako ganun ka confident para mag-live. aral aral pa. :hihi:

mga sir, yung 4 po ba sa pic sa baba ay pipette o pip, nag gain po ba ako ng 50pips or just 5pips lang? medyo nalilito parin po..
(http://i47.tinypic.com/2dgu6hv.jpg) (http://i47.tinypic.com/2dgu6hv.jpg)

sa demo kasi before ang trade ko ay 1 lot (100,000 units) na may $100,000 balance;
Ilan po ba ideal units to trade kapag ang leverage is 20, on a $1000 account?

sorry sa questions, newbie lang talaga. :hihi:

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Nag drop na nga EURUSD kanina...
around 45pips yata drop nya tsk
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 21, 2012, 04:47 PM
^^ At just this hour (since 4pm) it has zoomed back up above 1.30xx!!! That is how fast you can win or lose in forex.

Freeman12, kung 4 digits lang nakikita mo after the decimal, pips yun. Some have 5, like mine, so pipette yung amin. Ang reminder ko parati, 200 na move sa chart ko, 20 pips pa lang yun talaga.

Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 21, 2012, 04:53 PM
^^oo nga biglang bulusok ng USD vs eur and gbp, anyare :hihi:
Thanks sa clarification silent :)
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 22, 2012, 01:17 AM

1. click po dun sa window/browser  na gusto nyong i screenshot
2. tapos press yung "print screen" button sa keyboard
3. open mspaint tapos press "Crtl+V"
4. crop nyo na lang yung pic, or edit yung personal details, and save as "screenshot.JPG"
Tnx you Sir


kapag ok na yung picture go to http://tinypic.com/ (http://tinypic.com/) para ma upload and maipost yung link/thumbnail dito sa pmt.

hope this helps :)

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@ Calbert

Tama ba, target profit mo is around 80 pips and using a lot size of .6?

Nag drop na nga EURUSD kanina...

Yup pro di ko pa n reach ang target ehh ... medyo mataas ngayon but siguro papasok din sa target ko :)

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Sir Fe tanong lang po, is it okey po ba na eh cut mo yung entry mo kahit di na attain ang target? kasi sabi sa nabasa ko eh make a plan and excute the plan, its only 2 way to end yung entry its either T/P or S/L tama po ba yun? Whet do you think?

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:applause: galing ni bro calbert! di pa lang ako ganun ka confident para mag-live. aral aral pa. :hihi:

mga sir, yung 4 po ba sa pic sa baba ay pipette o pip, nag gain po ba ako ng 50pips or just 5pips lang? medyo nalilito parin po..
(http://i47.tinypic.com/2dgu6hv.jpg) (http://i47.tinypic.com/2dgu6hv.jpg)
You to consider the last 4 decimal places so 5 pips lang n gain mo. :)

sa demo kasi before ang trade ko ay 1 lot (100,000 units) na may $100,000 balance;
Ilan po ba ideal units to trade kapag ang leverage is 20, on a $1000 account?

sorry sa questions, newbie lang talaga. :hihi:

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around 45pips yata drop nya tsk

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Sir Freeman you have to consider the last 4 decimal places, so bali 5 pips ang profit mo. :)
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 22, 2012, 11:27 AM
 This is what happen in my last trading http://i45.tinypic.com/eurg42.jpg  :D

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This is what happen in my last trading http://i45.tinypic.com/eurg42.jpg  :D
I cannot post my trade  :help:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 22, 2012, 01:26 PM

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Sir Freeman you have to consider the last 4 decimal places, so bali 5 pips ang profit mo. :)

Thanks sa clarification bro calbert :)  BTW mali yata yung screenshot nung trade mo, cute baby girl kasi yung nasa pic. :hihi:

Ako naman since mostly sablay pa rin ako sa long term trade (days), karamihan ng gains are from manual closing. Basta may gain na ng at least $3 at medyo alanganin yung prediction ko, pwede na. :hihi:

BTW i raised my leverage from 20 to 50 sa demo. By far, di pa naman pumuputok account ko. Wish me luck. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 22, 2012, 02:15 PM
Eto yung trade ko (http://i48.tinypic.com/eurg40.jpg) I just manually closed to last night kasi its almost 1:00 pm na dito (+3 GMT) i gain 43 pips @ 0.3 = $129 kinita kahapon  not bad for beginner hehehe   :D

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(http://i48.tinypic.com/eurg40.jpg)
Bakit maliit

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Sir Fe tanong lang po, is it okey po ba na eh cut mo yung entry mo kahit di na attain ang target? kasi sabi sa nabasa ko eh make a plan and excute the plan, its only 2 way to end yung trade, its either T/P or S/L tama po ba yun? What do you think?

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1:00 AM (+3 GMT) pala not 1:00PM hehehe :)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 22, 2012, 04:34 PM
(http://i48.tinypic.com/eurg40.jpg)
Bakit maliit

Code: [Select]
hehe, naka auto resize ang PMT when it comes to images...
tips...

[url=link nung pic mo.jpg][img]link nung pic mo.jpg[/img][/url]

para same size yung pic na lalabas dito sa pmt PERO clickable.

try to click to view actual size.. (btw, nice trade  :applause: )
(http://i48.tinypic.com/eurg40.jpg) (http://i48.tinypic.com/eurg40.jpg)

hope this helps. :)
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 22, 2012, 04:47 PM
Hehehehe ganun pala yun Tnx Freeman
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 24, 2012, 03:58 PM
Hi guys, IMHO, once you set a T/P and an S/L, try to stick to it as much as possible. That is part of the discipline and it can help us be more mechanical in trading. There is a reason why we use those facilities.

Ang possible problem kasi kung mag close ka ng trade midway (wether gain pa rin or a small loss), you might have let your emotions get the better of you. Go back to the reason why you opened the trade in the first place. With the way forex is so volatile, we might have to readjust our trading program.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 24, 2012, 05:10 PM
^ very emotional parin ako kahit sa demo lang :hihi:
asset pala talaga ang pusong bato sa fx trading. :hihi:

*big drops sa eur/usd today
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Sep 24, 2012, 06:55 PM
^ very emotional parin ako kahit sa demo lang :hihi:
asset pala talaga ang pusong bato sa fx trading. :hihi:

*big drops sa eur/usd today
Today I already locked a profit of $ 157 in eurusd, still i have 2 entry of short in same currency and currently a paper gain of $ 102.
Title: Re: Newbie Guide to Forex Trading
Post by: tripler on Sep 24, 2012, 09:06 PM
still on demo........ short gbp/usd.. stop loss move to BE @  1.62500
will it go down??  :bahalaka:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 25, 2012, 01:10 PM
Sir tripler,
base sa emoticon and post mo, mukhang d ka kumbinsido at sigurado sa trade mo.
mas maganda may basehan ka sa trade mo. alam mo dapat kung bakit mo pinasok yung trade mo, at alam mo rin kung kelan ka lalabas.
trade with a plan (and plan your trade), ika nga.

d ba inaral mo yung kay J16, kamusta? ituloy mo lang yun.
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Sep 25, 2012, 05:00 PM
Tama lang na nka open ung selling ko from 1.3005 sa EURUSD.. from 5 weeks na nkababad, sa wakas.. nangangati na ang kamay ko mag liquidate ^__^ but still i look forward with 1.2785... I strongly believe to break it !!  While my USDJPY continuing to break my heart at my buying price at 78.17.. ant its now at 77.65.. Im going to hold my buying price because I still believe that i got a good price.

Gold GOld Gold!! is now erasing the losses from last Thursday move... Once its breaks the lower support at 1.725.. There I will recommend it to buy at 1.725 level and once it touch the level of 1.725 expect it to make a new rally like what gold did for 3 weeks High....


Happy Trading!!! ^__^
Title: Re: Newbie Guide to Forex Trading
Post by: tripler on Sep 25, 2012, 07:32 PM
Sir tripler,
base sa emoticon and post mo, mukhang d ka kumbinsido at sigurado sa trade mo.
mas maganda may basehan ka sa trade mo. alam mo dapat kung bakit mo pinasok yung trade mo, at alam mo rin kung kelan ka lalabas.
trade with a plan (and plan your trade), ika nga.

d ba inaral mo yung kay J16, kamusta? ituloy mo lang yun.

tnx sir fer.. medyo di pa nga... di kasi maka pag full time aral. plan ko tlaga is enter to a trade then move to BE and see where it goes kaso pa iba iba time zone ko at minsan walangggggggg signal kaya pag nakaksilip ako na it goes to my trade and earns a big pipis ayon.. medyo gusto isara,, anyway 500 pips gone ,i was stop out at BE and the market goes again to my trade..  but still its a win trade....  so far most of my trades are positve .. ang problema lang ay yong exit ko...
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Sep 26, 2012, 08:03 AM
"6 Skills Every Trader Should Have Before Going Into Trading"

Whether it is day trading, scalping, or investing,
there are fundamental skills that each trader
should master. Skill-building activities will
help you sharpen your ability to make money
and cash in on critical market movements.

1. Don't Be a Perfectionist

Consistent profits are achieved from winning
more than you lose - not winning every single trade.
There are plenty of professional traders who generate
profits by winning just 10% of their trades by
maximizing gains and minimizing their losses.

2. Stick to a Trading Plan

Developing a trading plan is extremely important.
Day trading around your own set plan for each position
will produce consistent profits. A trading plan planner
should be your best friend when developing your own trading
style. The key is sticking to what you've written down on paper.

3. Know the Odds

You should know the payoff odds for each trade that you take.
Scalping produces large gains from small movements with higher
risk than swing trading. Your trading plan should include
a way to regulate how much capital you're willing to risk
on each position - but you should never risk more
than 2% of your total account value.

4. Complete Trading Plan

The skill to plan is the most important. A complete
trading plan should be more than just "trade everyday
from 9-3." A plan should include how to act in upswings
and downswings and how to protect your capital.

In many cases, a thin plan is worse than no plan at all.
Stick to your guidelines to get the most out of each trade.

5. Ability to Keep Emotions Under Control

It's hard not to be emotional with hundreds or thousands
of dollars on the line each moment of the day.
Think like you would in a survival scenario;
you've got to be calm and keep your head above the water.

Many traders slip from their plan and take positions
to cover losses only to lose more money. Over time,
a complete trading plan will produce consistent profits,
but only if you believe in it.

6. Know How the Market Responds

After getting some experience, you should be able
to know how the market responds to certain events
before they happen. If there was a negative Non-farm
payroll statistic last month, and the Dow lost 60 points,
it would be smart to consider that the same would happen again.
History does repeat itself in the financial markets.

Source: InstantForexCash.com
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Sep 26, 2012, 08:25 AM
^ very emotional parin ako kahit sa demo lang :hihi:
asset pala talaga ang pusong bato sa fx trading. :hihi:

*big drops sa eur/usd today


Naku, di lang asset, it's a requirement. Yes, the EUR/USD continues to drop even as of yesterday.

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so far most of my trades are positve .. ang problema lang ay yong exit ko...

This is a common problem among traders... Remember, we actually gain money when we sell, not when we buy.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 26, 2012, 10:19 AM
Thanks for the skills requirement prospera. :)

swing trading
Quote
Swing trading is commonly defined as a speculative activity in financial markets whereby instruments such as stocks, indexes, bonds, currencies, or commodities are repeatedly bought or sold at or near the end of up or down price swings caused by price volatility.[1][2] A swing trading position is typically held longer than a day, but shorter than trend following trades or buy and hold investment strategies that can be held for months or years. Profits can be sought by engaging in either Long or Short trading

source :wikipedia (http://en.wikipedia.org/wiki/Swing_trading)

scalping:
Quote
Scalping, when used in reference to trading in securities, commodities and foreign exchange, may refer to
a legitimate method of arbitrage of small price gaps created by the bid-ask spread.
a fraudulent form of market manipulation
a legitimate method of trading based on quick momentum trades triggered by order flow reading setups.

source:wikipedia (http://en.wikipedia.org/wiki/Scalping_(trading))

Mga sir, pwede po paki explain sa newbie level? :hihi:

btw, meron po ba kayong alam na fx broker na pwedeng magdeposit and withdraw thru paypal? :think: :book:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Sep 26, 2012, 11:58 AM
^Punta ka sa 100forexbrokers.com where there's a list of brokers accepting paypal for funding. Be sure to do due diligence first, though, on your chosen broker by visiting forexpeacearmy.com. Baka p'wede ngang gumamit ng paypal pero malaki naman ang spread o hindi mabilis ang execution, etc. Always try your broker on demo before opening a live account.

Hayaan ko na lang mga sirs ang sumagot sa ibang tanong mo, okay? :-)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Sep 27, 2012, 03:58 AM
i was about to go  live on oanda pero nung nagbasa basa ako ng ilang reviews, it seems that some traders complained about sudden widening of spreads when news are about to break, some have problems with withdrawals, and some even accused oanada of hunting stops. Another "bucket shop" and market maker daw sila. :think:

Mga pinoy traders using oanda, may katotohanan po ba ang mga akusasyong ito?  :think:

If yes, could you please recommended other fx brokers po?
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Sep 27, 2012, 04:53 PM
i was about to go  live on oanda pero nung nagbasa basa ako ng ilang reviews, it seems that some traders complained about sudden widening of spreads when news are about to break, some have problems with withdrawals, and some even accused oanada of hunting stops. Another "bucket shop" and market maker daw sila. :think:

Mga pinoy traders using oanda, may katotohanan po ba ang mga akusasyong ito?  :think:

If yes, could you please recommended other fx brokers po?

widening spreads, this happens to all brokers on certain events/catalysts like news etc.

withdrawals, never had any problems so far....largest amount that i've withdrawn on a single transaction was 20k...

stop hunting, this is a myth
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 27, 2012, 05:24 PM
market maker talaga ang oanda.
sto p hun ting - hindi necessarily a myth. gawain ko rin yan minsan. :D
ginagawa talaga ng ilang broker yan.

yung tungkol sa news, iwas na lang magtrade sa news kung masyadong volatile para sa inyo
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Sep 27, 2012, 06:38 PM
can you anybody please explain further regarding the issue with oanda? In layman's term please because i have been using live account thru account for about 2 months now... THanks thanks..
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Sep 28, 2012, 07:53 AM
^ aling specific issue?
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 01, 2012, 09:38 AM
@freeman12

One way of doing swing trading is by drawing a support line for several low points and drawing a resistance line for several high points. If this forms a visible channel, then you can apply swing trading by buying when the price reaches support and shorting when the price reaches the resistance line.

Just remember that support and resistance lines are not permanent, so watch out for breakouts (price pierces the resistance which in turn is a strong buy signal) or break downs (price breaks the support which is a strong short signal).

As for scalping, my understanding is that these are trades that are very short in time span, lower pip targets and more frequent in trades. I'm just not sure how it can be used for market manipulation.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 01, 2012, 12:27 PM
Thanks silent!

Ngayon ko lang nalaman, scalping pala ang ginagawa ko. :hihi:

Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 01, 2012, 02:31 PM
Lets help each other. promoting FX Trading Business here in the Philippines.

Marami na rin pala dito sa atin ang involve sa FX and gold trading, I hope everybody doing well with the trading.

Tips:  Learn to trade safely by putting stop loss for every opened position.


Happy Trading:

Last Wed to Thursday I gained 2200 USD from gold at buying price 1744 and sold it to 1766.. and also gained from my USDJPY at buying last friday sa babad price of 77.57 and sold this morning at 77.92 and i got 446.25 USD total.. FX trading is exciting enough to gain money.

With my simple chart reading skills, combination with knowledge in fundamentals, and mix up with prayers, I found my trading profitable for the past 3 months.... Amazing isnt it??

Is there any investment can offer this kind of profit as short time as this?
If there is.  Kindly contact me ^^

Happy Trading Everyone here.
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Oct 01, 2012, 03:55 PM
Galing Denyx ah .. Nice trade :)

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Newbie pa rin ako sa Forex..
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 01, 2012, 05:30 PM
Galing Denyx ah .. Nice trade :)

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Newbie pa rin ako sa Forex..


Hi, there is no such thing Magaling.. walang magaling sa FX Trading if ever meron lahat mayaman na.. Na timing na maganda ang pasok.. Sa fx good timing and good price.  I only trade max of 5 trades a month.  Sa NFP, CCI pag may mga important speakers from ECB and FED un lang.. Di na ako nag ririsk sa sideways and scalping trading..nadadale lang ako... ^^

Happy Trading ^^


Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Oct 01, 2012, 09:03 PM
Trend trader ka rin pala boss ..  :) ano po ang broker n'yo?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 02, 2012, 11:18 AM
MONEY MANAGEMENT

Have a goal in mind of what you would like to make by trading Forex. I like to think on a weekly or monthly basis. For example, if you are thinking you would like to make an extra $2,000 per month then break it down in to how many PIPS (PIP = Percentage in Point: smallest amount of price movement the market can make in the Forex) of profit you will need to make per day to achieve your goal.
For example: If 1 PIP equals a $1.00 then that is going to average out to 100 pips per day based on there usually being about 20 trading days in a month. That is going to seem to be a bit hard to make but if you can afford to trade 10 contracts per trade you only need to make 10 PIPS per day to hit your $2000 a month goal. Doing this will help you budget what you can afford to apply to your trading and help you set realistic goals for yourself.
Make your goal achievable based on your account balance. Then as your balance increases you can increase your monthly goal and even extend it out to a yearly goal.
This is how I would set up a trading plan with a realistic goal. Let’s say I have a rather small budget of $500 to risk on trading. I would want o make sure my account is set up to trade micro lots. Ask your broker to do that for you if you are unsure how. A micro lot is 1/10th of a mini so the amount per PIP is $.10 cents.
For this example I have a trading strategy perfected where I only risk 10 PIPS with a target of 20 PIPS profit that would average out to about 200 PIP goal for the month. Now I need to know how much I can risk. A good rule of thumb is not to risk more than 3% of your balance. Three percent of $500 is $15. So I divide 15 by .10 and I can trade with 15 micro lots or 1.5 depending on how your brokers sets up the platform you are using. Now I figure I am (and this is being conservative) going to make on average 10 PIPS a day. That is $15 a day times 20 = $300 a month. That’s not bad, who couldn’t use an extra $300 a month! I always set my goal a bit higher as my balance increases. So instead of $300 I can set a goal of $500. I can risk more therefore making more.
If I hit my goal or not I still take my balance and do it again. Let say I made $400 instead of $500. My balance would be $900 X 3% = $27.00 now I can increase my contracts to 2.7 micro lots ($2.70 for every pip) and trade to earn another 200 PIP.
Obliviously as you can see my pip goal is always the same but as I add contracts the amount of money I earn will increase. This way you build your balance until you can earn what you want to earn. Is it $5000 a month? $10,000? or maybe $40,000 a month : )
This may put a new light on the saying " plan your trade and trade your plan".
You can also plan your money goals and trade to meet your money goal.
Set some goals…get jiggy with it! Start practicing to achieve your daily goal on a consistent basis. We are talking trading here so every day is not the same, but you want to see if you can make your daily goal average over time.
This is a good plan setting for all experienced and beginner traders. I do this all the time. I start with a small amount of money in one account and build a small fortune. Now you have multiple accounts doing this over and over. Rinse and repeat, you know the drill.

Source: 4xdaytrader.com
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 02, 2012, 02:05 PM

Last Wed to Thursday I gained 2200 USD from gold at buying price 1744 and sold it to 1766.. and also gained from my USDJPY at buying last friday sa babad price of 77.57 and sold this morning at 77.92 and i got 446.25 USD total.. FX trading is exciting enough to gain money.


Hi Denyx,

It would be nice if you could also share the reasons why you bought at those prices and more importantly, why you sold as well. This would give us an insight on your trading style.

If it was technicals, then which one signalled the buy and the sell? Same goes for the fundamentals you used.
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 02, 2012, 03:01 PM
Hi, Silent ^__^

XAU/USD

     Why buy gold?  I recently traded Gold, I took advantage of the opportunity of what happened to US quantitative Easing. There is no doubt that gold has been boosted.  I look forward for the uprising of gold and my target is to buy every correction since there is no way for gold is to go up.  So every correction after making a high I waited it to correct at the price range to 20-30 pts. which is my target, very rare is the 50 pts for gold.  once it corrected to 30 pts more than.  I plant my buying price there and I am quite sure that buying is the safest position for gold now.   Another thing is I look forward for the target of 2000 per ounce end of this year and possible before end of this year.  So once the price bellow 2000 from my target I feel safe to buy gold. 

2.  Why I sold it at the price level of 1766 from 1744? ..  The gold last Sep 26 which is Wed, corrected the high of 1775 it went down to 1736 from that its more than 40 pts already.  So I waited to the next hourly bar if it opens for an up trend, from there, I will fish a good buying price, so it did.  I waited to confirm the up trend before to plan my buying I waited from 1735 then I shoot an order, a spot order of 1744 and may target is actually 30 pts only thru my TP but after seing 4 consecutive bars of up trend the next bar it closed to a selling price but the range is only 3 pts. if its 5-10 pts might I sell my gold earlier at the price 1743 which is unfavorable to my buying. If ever lugi pa ako ng spread + 1 pts and com ng brokerhouse fee ko, means cut loss ako sana.. But I waited again for the next bar, I need to confirm the next bar to opens another up trend.  And yes!! it openeds to an up trend so again I waited.  Though I can see the doji sign bar I believe that gold already corrected the price since Tuesday  and its too much for 47 pts correction. Since the big picture of Gold is uptrend, I keep my buying position, and with the help of the 10:00 PM Existing Home Sales fundamentals went to -373 against the forecast of 381 and still negative from the previous of 374. I do believe that gold will make another show that night.  We all know that Home Sales plays big role to US Economy. So I hold my position and sleep. then the next day Thursday, I have to wait until 9 am before I can liquidate my position.  Why I sold it because it moves more than 30 pts though my target is 30-50 pts. I think Im safe at the price level of 1766 though nag high pa siya ng 1780..still okay parin ung saken, 30-50 % sa ginalaw nya makuha ko.. Im good na.. ;)


USD/JPY

I love to trade yen for 5 years na.. Though sometimes yen giving me heartaches but still my faith to yen is 100% ;) I traded yen once in a blue moon, why? because my target price is always below 78.00 once it breaks 77.95 good buying points at any price of 77.  We all know that if yen currencies went strong and much stronger, their industrial goods are affected.  once it touch down the 77.95 or even last 3 weeks ago which is Sep 10 the lowest is of the month is 77.12 the yen is very sensitive to stay in that price, they will do everything to lift and back their currency at good trade price around 79-80..though you can see the yen now, they find it hard to push the 79 level because of the US Quantitative easing issue.  Still Yen plays at the range of 77-79.50 is the highiest until US recover.

In trading of USDJPY I traded at the range of price level, My goal in USDJPY is actually a long term goal max of 2 months. min of 2 weeks. my price range is 77.50-80.50 once it breaks the high, sell from any level and buy from any level of 77. then wait.  target ko is upto 100-150 then out. antay again for the next opportunity. ^__^


I hope this opinion of trading help you guys.
Happy trading.  :)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 02, 2012, 05:38 PM
Yup, very helpful denyx. Thanks! I am still studying USDJPY and your insights give me a different point of view.

For my EURUSD, it's very near the resistance line drawn from Sept 19, so I am looking for a possible short position, unless of course it breaks out convincingly.
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 03, 2012, 09:54 PM
Mga Sir baka maka tulong eto. "The numbers from the States were positive regarding the ADP Non Farm Payrolls" .... we can long in favor of USD

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Mga Sir baka maka tulong eto. "The numbers from the States were positive regarding the ADP Non Farm Payrolls" .... we can long in favor of USD
we can go long in favor USD in pair currency :) 

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Mga Sir baka maka tulong eto. "The numbers from the States were positive regarding the ADP Non Farm Payrolls" .... we can long in favor of USD

Post Merge: 1349272800
we can go long in favor USD in pair currency :) 
we can go long in favor of USD in any pair currency :)
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 04, 2012, 02:43 PM
FX Trade Activity:


           USD/JPY  As my previous recommendation according to my range of trading with USDJPY.  Buy lower from 78.00 Below and target is 30-50 pips for a day trade or wait to liquidate from the break out price.  from my earlier post I liquidated my buying from the spot price of 77.59 and when oct 1 I sold the pair to 77.92 As I noticed during that trade  from Oct 1 and 2 yen plays around 77.78-78.21 which did not confirm my breakout price 78.25.  My trading plan was to buy for another low of 77.60, so I did plan my buy limit of 77.60

          Next plan is to wait for the price to be hit, after the 4 consecutive bars of down from my trading  h1 chart, I noticed that from one of my technical tools spike and touches my resistance line. I said if it spike above the line, there I will delete my buy limit and shoot the buy as a spot order.  When I was trying to click my mouse to execute an order I found out that there is something wrong with my trading chart, why my cursor doesnt move???. I was freaking out yelling infront of my laptop screen and my co-trader found out that mouse is not connected to my laptop usb..haha.. (panic attack!!) anyway, though its quite late for my buying target still I executed my buying  order at 78.06 and put my TP at 78.56 since my target is 50 pts. Until end of the day of trade, I failed to reach my target of 50 pts.

             I computed my equity, my pts to tolerate the very least down movements if ever, and my equity can handle the downwards of 4 times. Then I let my position open since the market is going to be close at 4:00 AM  I monitored until the market closed.  And the world stop for only 4 hours...........


           Oct. 03 the weather is not good, heavy rains and traffic jam I arrived in the office very late.                           
Before I left to work, I checked my USDJPY hmmm.. so far the market opened favorable to my position, while sipping my coffee while looking to my monitor I can see the posible breaks, which from the 78.55,  I can see the next resistance at 78. 85 then next is 79.25 to confirmed the upward trend for USDJPY.  But when it fail to break the 79.25 I can clearly view a move below of 77.45 next is 77.10 breakout new low from Sep 12 77.12 and crossfingers not too touch the 76.95 Other wise Japan will be hit again by another Big Tsunami since no plan for BOJ to intervene.   lol :p

             By the way, My TP was hit around 12 Midnight of Oct 03,  I gained of 541.20 USD net minus of the broker house fee and spread. I woke up this morning and I said... No trading for today since NFP is coming this friday.. Na trapped na ako many times sa NFP especially a day or an hours before the NFP release. 

TIPS:  Trade after the data release especially the NFP, ECB anouncement, FED Announcement. Dont be a victim of a whipsaw massacre :D.  (AHT) or After Hour Trade is only effective every during big data release. But not applicable for every day trade... AHT is now an option for the average investor as well. But be also aware of some of its inherent risks and dangers such as:

1. Less liquidity - There are far more buyers and sellers during regular hours.
2.Wide spreads – A lower volume in trading may result in a wide spread between bid and ask prices. Therefore, it may be hard for an individual to have his or her order executed at a favorable price.
3.Small fish – After confirming the big moves you will only trade at the breakouts.
4.Volatility – The AHT market is thinly traded in comparison to regular-hours trading.

After the NFP pahinga mode munaaa...  :) Since may akyat pa USDJPY and Gold contue to rally but not yet confirming the uptrend..

My next Trading Plan is:


USDJPY: Once it breaks the 79.25 I will plan my selling at 79.55
             But if still move to downwards long term Buy from 77:95

Gold: Waiting for another correction from the 1745 then.. Target points 20-35 pts.
         Once it breaks the 1791 next is 1805 when NFP realease negative I plan to buy still at any price from 1805 and target is only 5-10 pts. since I will fish only after the data.. ^__^

Happy Trading ^__^





Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 04, 2012, 03:43 PM
My first trade in USDJPY:

Bought at 78.203 last october 2
Closed at 78.597 today

Pwede na rin =)

EURUSD is now in a big sideways channel. Hopefully we can still do some swing trades.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 04, 2012, 11:54 PM
USD seems to be weakening
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 05, 2012, 06:46 AM
My "bet" is that tonight's  NFP release will result in a downward move for  the euro. (It had better; I'm short the EUR/USD pair.:p)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 05, 2012, 11:09 AM
My "bet" is that tonight's  NFP release will result in a downward move for  the euro. (It had better; I'm short the EUR/USD pair.:p)

hehehe at least you also got technicals behind you. The EURUSD just bumped the 61.8% fib level, so there is a strong possibility of going down. Add to this, the RSI is also near 70 or overbought. I'll probably join you in shorting this once the downward trend is clear =)
Title: Re: Newbie Guide to Forex Trading
Post by: vicces on Oct 05, 2012, 11:43 AM
kwestyun: san nakakakuha/download ng historical forex data (in excel or csv format)?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 05, 2012, 12:03 PM
^Try this:
http://investexcel.net/222/automatically-download-historical-forex-data-into-excel/

Ni-google ko lang yan. Nga pala, baket?
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 05, 2012, 12:08 PM
My view: NFP ( A Freaky Friday)

1. It seems like everybody are expecting the down trend for EURUSD tonight NFP... hmmm...
    All I can see is there will be a  WHIPSAW massacre tonight..  

2. A mixed bag for EURUSD, a clearly view of overbought, since NFP forecast is "blaknega" a little game for correction before the NFP.

Dont be a victim of the WHIPSAW Massacre!! :P
  
Clear all your open position before NFP otherwise its like rubbing a little salt in the wound nanaman :(

Title: Re: Newbie Guide to Forex Trading
Post by: vicces on Oct 05, 2012, 12:15 PM
^Try this:
http://investexcel.net/222/automatically-download-historical-forex-data-into-excel/

Ni-google ko lang yan. Nga pala, baket?
ayt thanks, P. may gusto lang akong subukan... ;)


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oops, EOD data (close) lang yung naeextract nya... meron kayang OHLC? try ko nga yung forex.com...
Title: Re: Newbie Guide to Forex Trading
Post by: EuroatYenpo on Oct 05, 2012, 04:48 PM
To those who are interested/learning about Supply and Demand.
Here is a link that might help. 
http://tradingarsenal.com/confirmation-methods/9-supply-demand-sam-seiden.html
Title: Re: Newbie Guide to Forex Trading
Post by: sysonpyh on Oct 07, 2012, 02:45 PM
guys..thanks sa lahat ng mga post...

Marami akong mga idea nakuha sa pag babasa di2, gus2 ko rin kacing pumasok sa forex, im hoping to go live nextyear....

sana wag kayu makulitan sa akin..marami akong tanong..ahahaha

BTW-Im from davao also..

meron ba mga taga davao na regular nag kikita kita to talk business or trading?




Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 08, 2012, 10:35 AM
Hmmm, eto na ata ang pagbaba ng EURUSD....

@prospera what price ka nag short? Just joined the shorters in this pair =)
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 08, 2012, 11:32 AM

My, Trading with NFP last friday.

Whew!! Thank you, for a very positive USDJPY NFP last Friday, it favors to my short buying at 78.51 spot, and got out from 78.74 with net 224.05 USD Profit...Though it high at 78.86 Okeng Okay na ako.... swabe lang ung akyat for an hour.

My AUDUSD, is now at buying in 1.0175 hmmm.. Two weeks of consecutive low, I can see a promising correction at 1.0275 Short..

Trading Plan:

Next target is to buy USDJPY at 78.15 and wait for the break out of 79.10 time frame 5 days of  trading.
While Im waiting for the gold to touch and hit my Buy Limit at 1755....

Happy Trading :)
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Oct 08, 2012, 05:23 PM
E/U is at 1.2968 currently.. do you think this will still drop??
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 08, 2012, 05:58 PM
 I enter short position in EURUSD @ 1.3007 S/L 1.3057 T/P 1.2940 then next is 1.2875  ...  :D  happy trading ...  :applause: :applause: :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 08, 2012, 07:26 PM
^ t/p ka na sir calbert :applause:
t/p ako today sa 3 trades ko sa usd/jpy, 2 sa eur/usd. (small profit lang. liit ang margin eh :hihi:)

btw, nakakatulong din na may iba kang ginagawa (eg. day job) para di masyado ang tutok sa trading, pero syempre, dapat confident ka sa trade mo.
last week, disaster ako, munting ng pumutok account ko. (demo lang naman :hihi:)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 08, 2012, 07:48 PM
congrats sa lahat, dun na ata sa active trading pages ang posts natin hehehe

Nag out na rin ako sa EURUSD ko nung nag hit ng 30 ang RSI. Not bad for my target of 1 trade per day. Now looking for a bounce upward if it continues to respect the Fibonacci levels.
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 08, 2012, 10:13 PM
^ t/p ka na sir calbert :applause:
t/p ako today sa 3 trades ko sa usd/jpy, 2 sa eur/usd. (small profit lang. liit ang margin eh :hihi:)

btw, nakakatulong din na may iba kang ginagawa (eg. day job) para di masyado ang tutok sa trading, pero syempre, dapat confident ka sa trade mo.
last week, disaster ako, munting ng pumutok account ko. (demo lang naman :hihi:)

Hahaha ganun ba, alam mo Sir I did'nt take the profit @1.2940 I continue my trade I will close it when reach 1.2875, I think by tomorrow I can hit that target. syang nman I risk for 50pips I should get at least 100 pips as rewards remember money management hehehehe my risk reward ratio is 1:2 i should stick to my plan.. . see you tom Sir Freeman  :D :D
Title: Re: Newbie Guide to Forex Trading
Post by: foolsgold16 on Oct 08, 2012, 11:51 PM
Hi!

I need counsel pls.
i just signed up at iforex.ph out of curiosity. tapos kanina somebody called me up and advised that my account can already be activated by putting $100 on the account. does anyone here know if this is a legit website? i'm wary but interested at the same time.

Thanks for any help in advance :)
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Oct 09, 2012, 01:12 AM
I just heard this broker for the first time :)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 09, 2012, 07:43 AM
@fg16: I've been seeing their ads a lot, including here at PMT if I'm not mistaken. I take it you're a forex newbie? If so, don't allow yourself to be pressured into opening a real account until you're ready (that is, you're confident you can trade successfully based on how well you've done in a demo account). You might also want to check out "forexpeacearmy" as well as "forexfactory" for users' reviews about any broker you're interested in.

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@s_i (silent_investor): Didn't do too badly with my E/U short trade, thank heavens. My longer term bias is down for this pair but I think we'll be seeing some upward moves before this happens.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 09, 2012, 11:04 AM
oo nga, just saw their ad banner at the top of this page. Pinoy looking yung mga talents nila.

Anyway, foolsgold16, it's better that you go instead to the other forex brokers usually mentioned in this forum and open a demo account. As prospera said, you shouldn't be "forced" to go to a live account already, even if its just for $100. For your info, if you trade the EURUSD at a microlot of .1 only, that would require you to set aside around $50. Thus, if you only have $100, you can't make more than 1 trade at a time (though this is a good practice even if you have a lot of money).

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Could it be the same as iforex.com? If so, I tried browsing their site and could not find if they are registered / authorized by the various regulating groups. This is something I picked up from fE whenever I come across a new forex trading company.

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Though it is not my trading style, I do succumb to quickie plays like what happened in the last candle of EURUSD. (3pm candle, philippine time)

Why did I enter the trade: The drop from the prior candle was quite abrupt, reacing 20 pips in a few minutes.

So I entered a sell order at around 1.2950. After dropping as low as 1.2905, it started to track higher towards the end of the hour. Thus, I decided to close the trade at 1.2920, giving me a quick 30 pips.

With the RSI below 30 once more, it would be good to monitor if the price will claw its way back up, stay at current levels, or finally go back to 1.2800 which would mean the continuation of the downtrend.
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 09, 2012, 11:47 PM
Hahaha ganun ba, alam mo Sir I did'nt take the profit @1.2940 I continue my trade I will close it when reach 1.2875, I think by tomorrow I can hit that target. syang nman I risk for 50pips I should get at least 100 pips as rewards remember money management hehehehe my risk reward ratio is 1:2 i should stick to my plan.. . see you tom Sir Freeman  :D :D
Ahhhhhh.. hehehe at long last T/P (1.2875) na ako, ang haba pinag hintay ko hehehe got 65 pips, size 0.4 got $260 not bad... bukas n lng ulit ako trade...  :applause: :applause: :applause:


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Ahhhhhh.. hehehe at long last T/P (1.2875) na ako, ang haba pinag hintay ko hehehe got 65 pips, size 0.4 got $260 not bad... bukas n lng ulit ako trade...  :applause: :applause: :applause:

Hay nakuuu pagod n pla ako  I open ka hapon @ 1.3007 T/P (1.2875) na ako, ang haba pinag hintay ko hehehe got pips 132 pips @ 0.3 size ($396)
Plus my new entry today T/P @ 1.2875 also got 65 pips size 0.4  $260, TOTAL EARNING $656 not bad... bukas n lng ulit ako trade...  :applause: :applause: :applause: 
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Oct 10, 2012, 09:17 PM
woooooooosh :D
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 10, 2012, 09:42 PM
This will gonna be a long climbing, I open long position @ 1.2885 S/L 2810 (Risk 75 pips) T/P 1.3156 (Rewards 271 pips) size 0.1 lang hehehe masyado kasi malaki akyatin  :D
Ride n kayo kahit small size lng estimated trading, two to three days.... Lets us jog together  :yoohoo: :yoohoo: :yoohoo:

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This will gonna be a long climbing, I open long position @ 1.2885 S/L 2810 (Risk 75 pips) T/P 1.3156 (Rewards 271 pips) size 0.1 lang hehehe masyado kasi malaki akyatin  :D
Ride n kayo kahit small size lng estimated trading, two to three days.... Lets us jog together  :yoohoo: :yoohoo: :yoohoo:
This is EUR/USD
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 11, 2012, 12:34 AM
size 0.4 ...

wow! dami puhunan ni sir calbert :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: sysonpyh on Oct 11, 2012, 02:04 PM
tama na po ba ang 2 hours per day para maka trade effectively sa forex market?

or time consuming ba po mag trade sa forex trading?

pls rep
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 11, 2012, 04:26 PM
^Hi. P'wede. May mga extremely short-term traders (scalpers) na gumugugol lang ng 1 o 2 oras sa isang araw doing high frequency trading sa 1 minute o 5 minute chart. Hindi nga lang ito niri-rekomenda sa mga baguhan.

Meron din namang mga tinatawag na position-traders na ang basehan ay ang mas mahahabang time-frame (daily chart, halimbawa). Hindi nila kailangang bantayan ang screen pero mas malaking kapital ang hinihingi ng ganitong trading-style dahil dapat handa kang mag-tolerate ng mas malaking stop-loss.

P'wede rin namang maging swing-trader: gamit ang 1-hour chart, for instance, you set pending buy or sell orders with target-profit/stop-loss levels, at the end of the day and check the result the following day.

Initially, you have to find out what style of trading suits you or your lifestyle best.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 11, 2012, 05:37 PM
I agree that it is possible to trade just two hours a day. But that would be when you already have a long experience so that you know at which time prices usually move. Though forex is traded 24 hours a day, prices are not moving big all the time.

As practice, try to find out which currencies move in the morning, in the afternoon and at night.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 11, 2012, 07:55 PM
i'm done with scalping. napansin ko kasi kailangan mong tumutok sa charts PALAGI. before ang tinitingnan ko lang kasi is the 5min, 15min, 30min, and 1 hour charts. pero nung binigyan pansin ko yung 1-day charts, dun ko mas naikita yung malinaw na trend.

ngayun sinusubukan ko mag trade using 1-day charts. at least sa umaga or sa gabi ko lang sya iche-check (i have a day job kasi).

click to enlarge
(http://i49.tinypic.com/2609x0y.jpg) (http://i49.tinypic.com/2609x0y.jpg)

i tried silent's advice to do realistic trading, so binawasan ko yung free 100k na fund sa demo to $300 lang, 1:50 as my leverage.
so far sa pic above negative sya pero i'm confident na mare-reach nya yung target profit.

ma'am, sirs, am i on the right track? tips or pips.. (pm ko paypal account ko.... joke! :hihi:)
Title: Re: Newbie Guide to Forex Trading
Post by: foolsgold16 on Oct 11, 2012, 09:13 PM
I just heard this broker for the first time :)

Thanks for the feedback Synapse. Could you recommend a solid forex website where I can open an account?
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 11, 2012, 09:19 PM
@ freeman

I think ok naman strategy mo ngayon. At least nasa demo mode ka pa lang so no prob to move from scalping to trading trends on the daily chart.

May i ask if you actually use the moving averages, rsi and bollinger? Hope you can share how you use them.

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I think ok naman strategy mo ngayon. At least nasa demo mode ka pa lang so no prob to move from scalping to trading trends on the daily chart.

May i ask if you actually use the moving averages, rsi and bollinger? Hope you can share how you use them.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 11, 2012, 10:28 PM
^ yes, kind of :hihi:

i hunt bounces using the bolinger pag ranging yung pair; possible trend reversals sa mga crossovers sa ema at stohastic; sma for clearer trendline; rsi for the strength nung trend.

pero 3days ko pa lang sila ginagamit, sana makahiyangan ko. :hihi:

btw, bakit po kaya ayaw gumana ng mt4 sa akin?
Title: Re: Newbie Guide to Forex Trading
Post by: foolsgold16 on Oct 12, 2012, 04:34 AM
@fg16: I've been seeing their ads a lot, including here at PMT if I'm not mistaken. I take it you're a forex newbie? If so, don't allow yourself to be pressured into opening a real account until you're ready (that is, you're confident you can trade successfully based on how well you've done in a demo account). You might also want to check out "forexpeacearmy" as well as "forexfactory" for users' reviews about any broker you're interested in.

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@s_i (silent_investor): Didn't do too badly with my E/U short trade, thank heavens. My longer term bias is down for this pair but I think we'll be seeing some upward moves before this happens.

I didn't see your response right away, Prospera. Thanks for the recommendation. I will be checking the website shortly. :)
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 12, 2012, 04:19 PM
Sir Freeman dami parang ang dami ng indicator and oscillator na gamit mo baka malito ka nyan, try to use maximum of 3. I used bollinger and ma to find the trend and ma as my oscillator. :)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 12, 2012, 05:02 PM
Ako naman I just use two moving averages and the RSI. Pero alam ko this is ideal only for the 1 hour chart.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 12, 2012, 08:53 PM
@sir calbert, oo nga po. mahirap intayin yung mga indicators na sabaysabay magtugma. thanks sa tip! ;-)

@sir silent, thanks sa tip! ngayun ko lang din narealize yung crossovers ng ema's sa 1day charts ay masyadong broad ang nasasakop nyang time. sayang ang opportunities to enter a good trade if there will be significant movements within that period. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 13, 2012, 01:35 AM
@sir calbert, oo nga po. mahirap intayin yung mga indicators na sabaysabay magtugma. thanks sa tip! ;-)

@sir silent, thanks sa tip! ngayun ko lang din narealize yung crossovers ng ema's sa 1day charts ay masyadong broad ang nasasakop nyang time. sayang ang opportunities to enter a good trade if there will be significant movements within that period. :hihi:
Sir Freeman try to used H4 or H1 to find the trend and trade at M30 or M15, tama ka daming opportunities to enter a good trade ang mawawala syo if you used 1D chart, cheers
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Oct 13, 2012, 03:47 AM
I've been away for couple of days.. namiss ko ang PMT....Well Im doing fine with my forex account, medyo talo pa rin pero kahit papano eh bumabawi na...
Title: Re: Newbie Guide to Forex Trading
Post by: sysonpyh on Oct 13, 2012, 09:28 AM
naga trade po ba kayu ng dollar vs peso?

maganda po ba ang return?

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hi po sa lahat..gus2 ko lang po mag ask

may nakapag sabi kac sa akin sa facebook na mag hotforex.com daw ako

ano po ba opinion nyu regarding hotforex?

thanks po
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 15, 2012, 08:00 AM
For those who might be interested in attending a free day-trading class online, click on this link to sign up:

http://www.triplethreattrading.com/nto/?inf_contact_key=32ddfa58d796e4068b12e952d26318490ff1898891281d08b88781383520ec49

P'wede pang humabol sa registration hanggang 12 noon today, Manila time; first session starts tonight at 9:15 EST.

More info below:

Just a quick reminder that the free day trading class
starts tomorrow, October 15th.

Here's what he's going to teach:

Day 1: Train Your Trading Brain -
Trading is a skill, and it has to be learned. Have you
taken the time to properly harness the skill of trading?

Day 2: Advanced Structure Analysis -
Learn how institutional traders look at a chart start
seeing what they see. With this information you'll
know exactly how the "big boys" are planning to
trade and where the smart money is headed.

Day 3: The Power Of Position Sizing -
In day 3 we start to put our knowledge into action.
Todd is going to show you simple ways to take a
consistent return trading 1 contract into a power
system using those same signals to generate
higher returns

Day 4: Mind Control -
You'll watch Todd dissect the market with surgical
precision using the skills you've learned in the first
three days.

If you haven't registered yet...

==> Click Here To Register Now (It's free)

Have a great week,

Markus Heitkoetter

   
 

Free Trading Class

Spotlight
   
Class Details

Date: Oct 15-18th
Time: 9:15 - 11:15
(NY Time)
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Oct 15, 2012, 10:12 AM
I had my buying at USD CHF last thursday and just recently out it and got 215 USD net profit....  whew!

Post Merge: 1350267606
I was looking for another low at 77.95 from USDJPY so i can plant another buying...  while friday di na kabawi sa EURUSD cut loss amounting of -110 dollars.. lagi ako nahahagip sa EURUSD... :( npaka erratic ng moves nya recently lang... stay away muna ako kila merkel... malapit na maabot ang aking buy limit sa GOLD... hehe...
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 15, 2012, 04:19 PM
@denyx01

Wierd, pero for me nasusundan ko yung EURUSD. Siguro kasi I've been trading this pair since the start. Ang inaaral ko ngayon is yung USDJPY. Para sa akin, ito naman ang erratic hehehe

I'm interested to know what trade you made that resulted in a -110 loss. Thanks!
Title: Re: Newbie Guide to Forex Trading
Post by: EuroatYenpo on Oct 15, 2012, 06:22 PM
I had my buying at USD CHF last thursday and just recently out it and got 215 USD net profit....  whew!

Post Merge: 1350267600
I was looking for another low at 77.95 from USDJPY so i can plant another buying...  while friday di na kabawi sa EURUSD cut loss amounting of -110 dollars.. lagi ako nahahagip sa EURUSD... :( npaka erratic ng moves nya recently lang... stay away muna ako kila merkel... malapit na maabot ang aking buy limit sa GOLD... hehe...

Try trading one pair at a time as your focus will be directed only on that trade.
cheers,.... :)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 15, 2012, 08:14 PM
thanks po sa mga tips mga kapatid sa pmt :)

same here, hirap din po ako sa eur/usd kaya im concentrating sa usd/jpy.

anyway here is my first trade that is more than 5 pips ang gain.
(28.1 pips lang naman po pero siguro higher pa if di ako nagorder ng t/p, and i'm proud of it! :))

click to enlarge
(http://i48.tinypic.com/35n0x6o.jpg) (http://i48.tinypic.com/35n0x6o.jpg)
12k units, 50 leverage

btw, still on demo. cheers!
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Oct 15, 2012, 08:50 PM
Galing, Sir. congrats
mukhang bagay sayo ang usdjpy. ituloy mo lang ang pagtrade jan. :cool2:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 15, 2012, 11:22 PM
thank you sir fE!   :yehey:
Title: Re: Newbie Guide to Forex Trading
Post by: bent78 on Oct 16, 2012, 01:11 PM
hi.. paano kayo mag lagay ng stop loss and profit? i mean gaano kalaki ng gap sa deal rate nu po? tip nman jan po.. bago pa lng kc ako.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 16, 2012, 01:17 PM
hi.. paano kayo mag lagay ng stop loss and profit? i mean gaano kalaki ng gap sa deal rate nu po? tip nman jan po.. bago pa lng kc ako.

One way is to use your risk:reward ratio. Kunwari 1:3. So pwedeng stop loss at 10 pips and target profit at 60 pips.

There is another way if you are a technical trader. Example, stop loss when the price breaks down from the support line and take profit when the price reaches your resistance line.

Title: Re: Newbie Guide to Forex Trading
Post by: bent78 on Oct 16, 2012, 01:36 PM
ano po magandang broker? any advise po
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Oct 16, 2012, 01:53 PM
Sir,
kung 10 pips stop tapos 60 pip profit, d ba 1:6 ratio yun, hindi 1:3?

Sir bent,
tama yung sabi ni Sir silent. ideally chart-based ang stop at profit mo. kasi pag %-based ang profit, it may or may not be hit.
yung stop, tama na may risk % ka lang, let's say 0.5% to 2% max.
yung 0.5 to 2% risk ay base sa account equity

example, $1000 and you want to risk 1%. this means for every trade, $10 lang ang iri-risk mo.

before you place any trade, you need to determine this %risk FIRST. then i-adjust mo yung position size mo based on this. ocne in a trade, make sure susundin mo itong %risk limit mo, else lolobo ang losses mo at mas mabilis liliit ang account mo.

sa broker, kailangan ikaw mamili at magresearch.
oanda pwede mo subukan. free ang demo trading sa brokers. gamitin mo yun pang practice

basa basa ka dito www.babypips.com/school/
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 16, 2012, 02:51 PM
Sir,
kung 10 pips stop tapos 60 pip profit, d ba 1:6 ratio yun, hindi 1:3?


Ay sorry! Oo nga, 20 pips SL and 60 pips TP hehehe salamat sa pag correct.
Title: Re: Newbie Guide to Forex Trading
Post by: sysonpyh on Oct 16, 2012, 04:14 PM
anu ba magandang platform na pag simulan?

im using etoro right now..

i cant set stop loss sa gus2 kung exact number

some help plss
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 16, 2012, 04:18 PM
^Try Oanda or any broker with a non-expiring MT4 demo.
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 16, 2012, 04:33 PM
anu ba magandang platform na pag simulan?

im using etoro right now..

i cant set stop loss sa gus2 kung exact number

some help plss

Dapat pwede... yung sa account ko, dapat daw at least 8 pips away from current price. Baka lang ito yung case.
Title: Re: Newbie Guide to Forex Trading
Post by: bent78 on Oct 17, 2012, 07:51 AM
im using iforex mga pinoy ang nkakausap ko and 1 month binigay sa kin to use the demo account.. ano sa palagay nyo mga sir? ok ba ang iforex?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 17, 2012, 08:01 AM
^Besides your own personal experience using their demo-account,  look for user-reviews online at sites like "forexpeacearmy" and "forexfactory."

And don't allow yourself to be rushed into opening a live account until you're good and ready.

Best of luck!
Title: Re: Newbie Guide to Forex Trading
Post by: bent78 on Oct 17, 2012, 09:06 AM
^Besides your own personal experience using their demo-account,  look for user-reviews online at sites like "forexpeacearmy" and "forexfactory."

And don't allow yourself to be rushed into opening a live account until you're good and ready.

Best of luck!

thank you for the the advice maam prospera.. sana po in time matuto ako mg trade.. masyado pa kasing technical ang trading eh
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 17, 2012, 01:55 PM
guys share ko lang ginawa kong guide sa chart patterns (form babypips)...

click to enlarge
(http://i47.tinypic.com/2vtbgua.jpg) (http://i47.tinypic.com/2vtbgua.jpg)

laging naka open itong pic na ito when i'm hunting for reversals and continuations (cheat sheet :hihi:)
Title: Re: Newbie Guide to Forex Trading
Post by: silent_investor on Oct 17, 2012, 03:47 PM
Nice one freeman12! Soon, di mo na kailangan ng cheat sheet kasi naka imprint na sa mind mo ang mga pattern na ito.

Try also to go back on your charts (previous time frame like 1 year ago) then hunt for these patterns. You can then determine how reliable they are on your chosen currency pair.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 18, 2012, 08:14 AM
Thanks sir silent!

here's my second trade na more than 5 pips ang gain! Weeeeeeee! :hihi:

click to enlarge
(http://i49.tinypic.com/vzfznc.jpg) (http://i49.tinypic.com/vzfznc.jpg)

btw, still on demo. :hihi:

T/P :8:48am @ 79.136, +39.8 pips  :b_jump:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 18, 2012, 05:18 PM
^But I thought you had a day-job, fm12? Istorbo ba sa trading?  :hihi:

Title: Re: Newbie Guide to Forex Trading
Post by: calbert on Oct 18, 2012, 05:39 PM
 :yoohoo:
This will gonna be a long climbing, I open long position @ 1.2885 S/L 2810 (Risk 75 pips) T/P 1.3156 (Rewards 271 pips) size 0.1 lang hehehe masyado kasi malaki akyatin  :D
Ride n kayo kahit small size lng estimated trading, two to three days.... Lets us jog together  :yoohoo: :yoohoo: :yoohoo:

Post Merge: 1349876640
This is EUR/USD
I have a good feeling matatapos n jogging ko going to my T/P 1.3156 hehehe at moment nasa 3127 na hehehe still raising  :yoohoo: :yoohoo: :yoohoo: :boxing: :boxing:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 18, 2012, 06:25 PM
^But I thought you had a day-job, fm12? Istorbo ba sa trading?  :hihi:

oo nga po e. :hihi:
pag walang customer, nagfo-forex (demo) po ako. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 19, 2012, 05:58 PM
Source: www.fxremora.com

Tips for Managing the Nine Major Sins of Trading:

1. Set reasonable expectations; you can't always hit a home-run.

2. Thou shalt not fear.

3. Keep your greed in check.

4. Trading is not gambling.

5. Analysis paralysis indicates a lack of confidence; embrace the uncertainty that comes with the territory.

6. Never trade when you are  angry.

7. Shun arrogance.

8. Revenge doesn't work against the market.

9. Hope and desperation don't cut it.
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Oct 25, 2012, 11:47 AM
samalat po dyan madam Prospera
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 25, 2012, 11:48 AM
i was trading with my other demo accout kasi it has more funds than my oanda demo.
may current trade din kasi ako sa usd/jpy sa oanda (ubos na kasi available margin). :hihi:

eur/usd was ranging and managed to partially ride the swings
click to enlarge  :D
(http://i46.tinypic.com/ekov9u.jpg) (http://i46.tinypic.com/ekov9u.jpg)
1:400

(http://i47.tinypic.com/1z51650.jpg) (http://i47.tinypic.com/1z51650.jpg)
1:50 target was hit +36.6 oct.25 :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 25, 2012, 12:18 PM
^Good for you, fm12.:-)

After you have your system/strategy down pat, you can perhaps focus next on the money-management aspect (including position-sizing) so you don't exhaust your available margin as a matter of course.

Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Oct 25, 2012, 01:27 PM
^thanks ma'am prospera!  :thanks:
medyo hirap pa nga po ako sa money management. :scratch:

Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 25, 2012, 06:09 PM
Sa mga interesado, may free forex webinar tonight (9AM EST) that you might still be able to catch if you register ASAP at--

http://www.forexcatapult.com/webinar-register/

Note: Just passing this e-mailed info along; I'm not in any way connected with the people holding the webinar, fyi.
Title: Re: Newbie Guide to Forex Trading
Post by: redbillions on Oct 30, 2012, 08:46 PM
I haven't tried FOREX trading, saan po ba the best magkaroon ng training/mentoring? :)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 31, 2012, 09:32 AM
^babypips.com

 Most of us went to school there. :-)
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Oct 31, 2012, 10:09 AM
I haven't tried FOREX trading, saan po ba the best magkaroon ng training/mentoring? :)

if you want self study babypips and 4xp.com very informative basics, if you want to attend a seminar, admiral markets with postings above gives a good basic training and best of all its free,  am not a pro trader just a newbie suggestion :)
Title: Re: Newbie Guide to Forex Trading
Post by: Ping on Oct 31, 2012, 02:33 PM
Free ang seminar?

Pero do you need to open, or have an account with them?

 :cool2:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Oct 31, 2012, 02:53 PM
Of course, they'd want nothing more than have you be a client of Admiral. But I don't think it's a requirement.

I'd go if I were you; it's a whole day seminar, if I'm not mistaken. And best of all, it's free.
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Oct 31, 2012, 03:12 PM
attended the seminar, it was ok, the info they shared were available in the net, better lang because you can ask for clarification or further explanation
Title: Re: Newbie Guide to Forex Trading
Post by: bilagan2004 on Oct 31, 2012, 07:42 PM
Ako paguwi ko ng pinas attend ako ng Seminar na ganito.. Malaki laki rin ata ang kitaan dito base sa mga nababasa ko dto sa site na e2..
Title: Re: Newbie Guide to Forex Trading
Post by: denyx01 on Nov 07, 2012, 11:57 AM
Hello,

   While there in abroad.. try to study and equip yourself by reading about the game of Forex Trading.  Hindi lang malaki ang kikitain mo once you have the knowledge in trading, good practice and discipline, I am sure that you will definitely love it.  Not just loving because you earn big amount of money from profiting in the trading but because you will have all of your time for your family.  Learn how to trade and master your trading in forex... 


  - Former OFW in South Korea  ^__^
Title: Re: Newbie Guide to Forex Trading
Post by: kate_hansons on Nov 08, 2012, 01:40 PM
San yung site na pwede magpractice ng forex trading? Thanks! Yung as in demo trading lang ang hanap ko.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Nov 08, 2012, 06:24 PM
^try oanda
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 20, 2012, 03:39 PM
^Good tips, indeed. Mind sharing the source of the above material, forexcepat?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 21, 2012, 04:24 PM
Hi, welcome to PMT, Jonathan.:-)

 So we can get to know you better, can you tell us:
-the name of the internationally acclaimed broker you were head-trainer at
-how long you've been trading currencies
-what kind of trader you are
-if you're an introducing broker as well
-how much do you charge for your coaching services

Tia.
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Nov 23, 2012, 01:00 AM
^ sino ung jonathan? di ko makita post niya
Title: Re: Newbie Guide to Forex Trading
Post by: JonathanLouReyes on Nov 23, 2012, 02:42 PM
Hi, welcome to PMT, Jonathan.:-)

 So we can get to know you better, can you tell us:
-the name of the internationally acclaimed broker you were head-trainer at
-how long you've been trading currencies
-what kind of trader you are
-if you're an introducing broker as well
-how much do you charge for your coaching services

Tia.


Hi Tia,

thanks for the warm welcome! Its my first time in PMT, and the people here are very friendly and positive.

Anyway, I was the head trainer in Admiral Markets, Philippines. I resigned less than a month ago and I just opened a Forex Training Center, so that I can share the opportunities of the wonderful world of the forex market to others. The forex market is really my passion and I love sharing it to others. I am also an IB, not only in Admiral but others as well. Compared to my mentors who have been trading for over 18 years, I havent been trading for long, around 2 years. Compared to 2 day class type seminars that cost 20-40k, i only charge a minimal fee 5k for personal mentoring (roughly around 3 days, but if the student needs more time to learn, i dont charge additional as long as the students learns everything).

it includes:
-introduction (what is the market? pips, etc)
-technical analysis (S&R, indicators, trends, candlestick and chart patterns, divergences)
-basic fundamental analysis (forex calendar, interest rates, etc)
-risk management
-several trading systems (breakouts, shotguns, bounces, riding trends, white market, etc)

... well basically i teach everything a successful trader needs :)
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Nov 23, 2012, 08:20 PM
Ang daming taga Admiral doing their marketing dito sa forums ah... NO SPAM PLEASE
Title: Re: Newbie Guide to Forex Trading
Post by: JonathanLouReyes on Nov 24, 2012, 01:16 PM
Ang daming taga Admiral doing their marketing dito sa forums ah... NO SPAM PLEASE

Hi!, I didnt mean to offend anyone by posting what i do. Also, i'd like to clear out that im not tied up with admiral anymore. i am just one of many traders they have
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Nov 27, 2012, 02:42 PM
Hi Guys, I'm a newbie sa Forex and want to try and learn more about it. Nagbababypips ako and then demo to apply un mga lessons dun as encouraged din sa babypips.

I'm reading a lot, as of now nasa page 32 pa lang ako ng forum na to, hehehe. But thanks to all for sharing, I'm sure marami tayong matutunan dito, not just sa forex but human nature as well..


Un lang, good luck sa atin... God speed!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 27, 2012, 02:51 PM
Welcome to the club, the_eleventh.

May your forex journey be enjoyable and, best of all, profitable!
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Nov 27, 2012, 07:08 PM
-20% ako this week. hay :(
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 27, 2012, 09:04 PM
^Live account na ba iyan, fm12?

May I suggest taking a breather from the market (or doing paper-trading) if you hit a losing streak? It will also give you time to sit back and analyze your trades so you could do better the next time around.
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Nov 28, 2012, 12:50 AM
Highschool grade 11 na ako sa babypips! Haha!

Minsan un mga lesson doesn't make sense, minsan naman nakaka-relate ako, hehehe! Anyways, kelangan sya tapusin... para lng pagbabasa ng novel books un ibang chapter wala wenta, wa action pero alangan naman di mo basahin eh di hindi mo naintindihan kwento! hehehe..
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Nov 28, 2012, 01:18 AM
^Live account na ba iyan, fm12?

May I suggest taking a breather from the market (or doing paper-trading) if you hit a losing streak? It will also give you time to sit back and analyze your trades so you could do better the next time around.

demo pa lang din po ma'am. :hihi:. i was trying to catch swings kasi kaya madalas sumablay :think:
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 28, 2012, 09:44 AM
Highschool grade 11 na ako sa babypips! Haha!

Minsan un mga lesson doesn't make sense, minsan naman nakaka-relate ako, hehehe! Anyways, kelangan sya tapusin... para lng pagbabasa ng novel books un ibang chapter wala wenta, wa action pero alangan naman di mo basahin eh di hindi mo naintindihan kwento! hehehe..

Hi. It will all make sense to you the longer you stay in the "game." Just be patient and persist and have fun in the process.
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Nov 28, 2012, 01:51 PM
@Prospera

Thanks po sa encouragement. :thankyou:
Question po, what time ba (manila time) un best time to trade (or practice trading)?

Ngtry ako kahapon ng EUR/USD sa demo around 9PM to 12MN medyo ok, pero after that talo na mga sinubukan ko. May tinatry akong system from babypips, bale check un trend sa H4 and then trade sa M15 na chart. indicators na gamit ay RSI, MACD, saka EMA.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 28, 2012, 02:41 PM
^This might help (just convert the EST by changing the time of day; if it's 9AM EST, it's 9PM here in Manila):

http://forextrading.about.com/od/basicforex/a/powerhours_ro.htm
Title: Re: Newbie Guide to Forex Trading
Post by: JonathanLouReyes on Nov 29, 2012, 12:40 PM
@Prospera

Thanks po sa encouragement. :thankyou:
Question po, what time ba (manila time) un best time to trade (or practice trading)?

Ngtry ako kahapon ng EUR/USD sa demo around 9PM to 12MN medyo ok, pero after that talo na mga sinubukan ko. May tinatry akong system from babypips, bale check un trend sa H4 and then trade sa M15 na chart. indicators na gamit ay RSI, MACD, saka EMA.

Hi!

I believe thats pip surfer's strategy? (i tried that too before, it also gave me good results) Prospera is correct, 12 hour difference for EST. its good to use during the overlap of eur and usd markets (8pm-12mn or 9pm-1am because of daylight saving time)
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Nov 30, 2012, 03:27 AM
Yup, Cowabunga tawag nya dun... mukhang ok naman sya pero di ko pa lang gamay masyado..

Malapit na ako gumaraduate sa babypips! (hingang malamim!)...

May question ako regarding sa 6 steps to developing your system:

pano ba i-identify un risk?

salamat po ng marami for sharing your knowledge...



There are 6 steps to developing your system:

Find your time frame.
Find indicators to help you identify trends early.
Find indicators to help you avoid whipsaws and confirm your trend.
Define your risk.
Define your entry and exit.
Write your trading system rules down and ALWAYS stick to those rules!


Read more: http://www.babypips.com/school/summary-creating-your-own-trading-system.html#ixzz2DdobV2jc
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Nov 30, 2012, 08:37 AM
^Your risk per trade is simply how much you're willing to lose IF your predicted scenario turns out to be incorrect.

Say, for instance, that you've put on a buy trade on the EUR/USD pair and set a stop-loss point 50 pips away from your entry price. If your lot-size is .10 (i.e., $1 per pip), your risk would be $50 if the E/U went down instead of up.

It's recommended not to risk more than 5% of your equity on any given trade. So if you have $500, your loss should not be more than $25.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Nov 30, 2012, 12:11 PM
12 hour difference for EST
minor correction.
EST has changed since November 4, 2012. (Daylight Saving Time is not in effect)

Manila time - 1 na ang EST ngayon
example, ang 12:00 noon satin, 11 pm sa kanila


the_eleventh,
what Ma'am Prospera said.
i'd go one step further by suggesting na i-risk mo 0.50% to 1% per trade lang.
ang purpose nito ay longevity ng account mo.
at ang gamit na leverage ay babaan mo lang... 50:1 or mas mababa pa --- 20:1, etc.
Good luck Sir
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Dec 03, 2012, 01:15 AM
if 2% percent po un gagamitin na risk percentage bale ganito po magiging set-up?

example:

USD 100.00 - Account Balance
2%   - Risk Tolerance %
USD 2.00   Risk Tolerance in USD

$0.10 - Pip Cost per 1 lot  (1K - Micro)
1:3 - Risk to reward ratio
-20 pips - stop loss??
+60 pips - limit order??


tama po ba? mukhang naligaw na ako ah! hehehe.. I will really appreciate your inputs, gumagawa ako ng risk management system ko eh. salamat and God bless..
Title: Re: Newbie Guide to Forex Trading
Post by: suntzu on Dec 03, 2012, 02:32 PM
if 2% percent po un gagamitin na risk percentage bale ganito po magiging set-up?

example:

USD 100.00 - Account Balance
2%   - Risk Tolerance %
USD 2.00   Risk Tolerance in USD

$0.10 - Pip Cost per 1 lot  (1K - Micro)
1:3 - Risk to reward ratio
-20 pips - stop loss??
+60 pips - limit order??

tama po ba? mukhang naligaw na ako ah! hehehe.. I will really appreciate your inputs, gumagawa ako ng risk management system ko eh. salamat and God bless..

your risk management is very conservatively good. 2% is actually safe. risk to ratio of 1:3 is ideal though does not come by often. however, your "+60", don't you mean take profit? +60 makes sense as a take profit with 1:3 risk ratio.
Title: Re: Newbie Guide to Forex Trading
Post by: emoscardon on Dec 03, 2012, 10:04 PM
wow ito ang gusto ko. newbie me sa forex 2months na nagpra practice
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Dec 05, 2012, 02:47 AM
Mga masters, ask ko lang kung ang exchange rate ba ay seasonal din? I mean, what I heard kase is that every December daw lumalakas lagi ang piso because maraming mga remittances from our OFWs. Totoo po ba ito? TIA..
Title: Re: Newbie Guide to Forex Trading
Post by: venturetrees on Dec 05, 2012, 05:24 PM
For those of you who have opened a Live Acct through Bank Wire Transfer,
May I know what is the best bank here in the Philippines where I can wire transfer my dollars to fund my Live Account?

Because usually ang daming tanong when your doing bank wire transfer because of anti-money laundering law.

May I know what bank & where na branch?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 06, 2012, 12:13 AM
Mga masters, ask ko lang kung ang exchange rate ba ay seasonal din? I mean, what I heard kase is that every December daw lumalakas lagi ang piso because maraming mga remittances from our OFWs. Totoo po ba ito? TIA..
totoo po yun.
gumagalaw ang exchange rate base sa maraming bagay, kasama na dito ang supply and demand at malakihang paggalaw ng pera (gaya ng remittances)


For those of you who have opened a Live Acct through Bank Wire Transfer,
May I know what is the best bank here in the Philippines where I can wire transfer my dollars to fund my Live Account?

Because usually ang daming tanong when your doing bank wire transfer because of anti-money laundering law.

May I know what bank & where na branch?
wala po masyado tanong dun.
sabihin mo lang kung ano talaga gagawin mo, which is forex trading.

bank wire fees vary. usually $18 to $20 (cost may have changed; experience ko dati is with BPI Family bank). tapos babyahe ka pa and pipila ka pa sa bank (kung marami tao). tapos intay ka pa ng 3-5 business days para ma-process
mas convenient, faster, and usually cheaper pag credit card or paypal/online ang payment mo.

most major banks can facilitate the process, sa bank fees lang nagkaka-iba.
punta po kayo Sir sa nearest bank or branch of account nyo.
Title: Re: Newbie Guide to Forex Trading
Post by: chiz_wiz on Dec 06, 2012, 03:41 AM
 :D hi ! anong trading platform ang ma recommend nyo?
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Dec 06, 2012, 04:03 AM
totoo po yun.
gumagalaw ang exchange rate base sa maraming bagay, kasama na dito ang supply and demand at malakihang paggalaw ng pera (gaya ng remittances)

I see. Aside sa December, tuwing kelan pa po ba  madalas lumalakas ang piso? And last question, meron din bang season kung saan mas malakas naman ang dollar? Thanks again..
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 06, 2012, 08:52 AM
tuwing enrolment at graduation :D
seriously, may ilang ideas pa ko pero nothing definite sa ngayon.
tuloy tuloy lang ang aral at research.

kung may panahon na malakas ang piso, siguro may panahon na malakas din ang dolyar.
bakit po interesado kayo jan? may OFW ba sa inyo?
Title: Re: Newbie Guide to Forex Trading
Post by: xyphrus on Dec 09, 2012, 02:36 AM
Yup, meron po eh. Kaya mas lalu akong naging interested sa Forex. :)  

Maganda ang economy natin ngayon, ang PSEi year to date is more than 30% na yata. Kapag po ba maganda ang economy automatic lumalakas din ang piso?

And kapag ganitong malakas ang piso, paano natin ito mati-take advantage? Pwede rin kaya yung bibili ka ng mga dollars, tapos aantayin mong humina ang piso?

Sorry for the newbie question. Talagang zero knowledge pa ako sa Forex. TIA.. :)
Title: Re: Newbie Guide to Forex Trading
Post by: cebuguy on Dec 09, 2012, 04:23 PM
Sa tingin ko tama. Lumalakas din ang peso kapag maganda ang economiya. Ang mali lang di ramdam ng tao :D

Di major pair ang peso kaya Sa yen ka nalang. Or stick to Usd/eur pair dahil dito rin ang kadalasan at mas maraming makaadvice sayo lalo na ang magagaling dito.
Title: Re: Newbie Guide to Forex Trading
Post by: JonathanLouReyes on Dec 10, 2012, 09:45 AM
:D hi ! anong trading platform ang ma recommend nyo?

metatrader 4 parin.. it can perform complex tasks and be user friendly at the same time.. plus its commonly used too so there are alot of videos you can check out on the net. :)

Post Merge: 1355104038
tuwing enrolment at graduation :D
seriously, may ilang ideas pa ko pero nothing definite sa ngayon.
tuloy tuloy lang ang aral at research.

kung may panahon na malakas ang piso, siguro may panahon na malakas din ang dolyar.
bakit po interesado kayo jan? may OFW ba sa inyo?

thats an interesting insight! any thoughts on why?  ill check out what i can find too.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 10, 2012, 11:34 AM
@xyphus: The common wisdom is that a nation's currency becomes stronger or weaker based on how well the economy is doing. Hence, the PHP's higher value vs the USD in recent months.

But the PHP/USD pair is not normally  offered for spot-trading by online forex brokers (a good thing for the country in my view). And it's unwieldy to be physically exchanging your pesos to dollars or vice versa and timing it so as to profit from the fluctuations. As cebuguy says, you might as well stick to "speculating" on the majors, like the EUR/USD, if you're seriously planning to go into forex-trading.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Dec 12, 2012, 06:20 PM
finally, may konting positive results na din ang studies ko...
(http://i49.tinypic.com/nq547.jpg)
click to enlarge

 :hihi: (http://i49.tinypic.com/nq547.jpg)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 12, 2012, 09:32 PM
Nice, fm12. Keep it up...

Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Dec 12, 2012, 10:45 PM
^thanks ma'am.  :b_jump:

target hit po ako kanina +120.4 pips!  :b_beer:

sana sa live ganito din. :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: EuroatYenpo on Dec 12, 2012, 11:15 PM
finally, may konting positive results na din ang studies ko...
(http://i49.tinypic.com/nq547.jpg)
click to enlarge

 :hihi:
 (http://i49.tinypic.com/nq547.jpg)

Great trades freeman,... Hmmm,.. A fellow Oanda user as well,...
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Dec 12, 2012, 11:22 PM
^thanks sir! btw, still on demo pa rin po.
the only thing na nao-obserbahan ko sa oanda (aside from occasional disconnection) ay yung spreads nila. (they keep on changing for like every 3 seconds!)
Title: Re: Newbie Guide to Forex Trading
Post by: EuroatYenpo on Dec 12, 2012, 11:25 PM
^thanks sir! btw, still on demo pa rin po.
the only thing na nao-obserbahan ko sa oanda (aside from occasional disconnection) ay yung spreads nila. (they keep on changing for like every 3 seconds!)

Yep,.. every broker has its pros and cons,... :)
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Dec 13, 2012, 01:50 AM
First day high or beginner's luck o baka kasi 12.12.12 ngayon.... First day ko sa live today at thanks God ok naman.. 3 trades lng ako today target ko 20 pips per day.

Alam ko na di laging ganito, goal ko na mag survive muna, alagaan at patagalin un account ko. hehehe!

Un isa kong trade talo, di ko inexpect un trend change, meron po ba kayo tips or strategy para malaman ng maaga if valid pa un trend or may reversal na on the way? salamat po :thankyou: ang God bless our pips! :D
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 13, 2012, 06:46 AM
^Maybe you can be more detailed (or post a screenshot) so people can chime in and give their two cents on your failed trade?
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Dec 13, 2012, 10:33 AM
beginner's luck?
opened a demo account yesterday, done these trade on strategy taught to me last week


Ticket   Open Time   Type   Lots   Item    Price   S / L   T / P   Close Time    Price   Commission   R/O Swap   Trade P/L
62581615    2012.12.12 02:37   balance   Deposit   5 000.00


Open Trades:
Ticket   Open Time   Type   Lots   Item    Price   S / L   T / P        Price   Commission   R/O Swap   Trade P/L
62581750    2012.12.12 03:01   sell   2.00   usdcad   0.9861   0.9930   0.0000        0.9850   0.00   0.00   223.35
62581785    2012.12.12 03:02   buy   2.00   nzdusd   0.8397   0.8280   0.0000        0.8426   0.00   0.00   580.00
62581794    2012.12.12 03:03   buy   2.00   audusd   1.0531   1.0450   0.0000        1.0546   0.00   0.00   300.00
62581893    2012.12.12 03:11   buy   2.00   audjpy   86.94   87.00   0.00        87.75   0.00   0.00   1 946.88
62609921    2012.12.12 13:33   buy   2.00   eurusd   1.3041   1.3000   0.0000        1.3065   0.00   0.00   480.00
62609952    2012.12.12 13:33   buy   2.00   usdjpy   82.91   82.50   0.00        83.21   0.00   0.00   721.07


Working Orders:
Ticket   Open Time   Type   Lots   Item    Price   S / L   T / P   Market Price   
No Transactions
 
A/C Summary:
Previous Ledger Balance:    0.00        Floating P/L:    4 251.30
Closed Trade P/L:    0.00        Total Credit Facility:    0.00
Deposit/Withdrawal:    5 000.00        Equity:    9 251.30
Balance:    5 000.00        Margin Requirement:    2 499.94
Available Margin:    6 751.3
Title: Re: Newbie Guide to Forex Trading
Post by: JSR111 on Dec 14, 2012, 05:59 AM
Good morning PMT! Wow, information overload ako dito. Daming terms and figures na d ko ma-gets. Pero sabi nga ni Mam Prospera, Ferrari and others, just stay in the game and just keep reading, it will all make sense later. Nag-register ako sa iFOREX then tinawagan ako, tutorial is over the phone lang daw. Ok din ba yun?  Thanks. God bless!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 14, 2012, 11:39 AM
^Any form of training is good and welcome.  Just don't be pressured into opening a live account until you're good and ready, ok?


@bzboi: Congrats to you, too. I'd suggest not spreading yourself too thin, though, by focusing on just one or two currency pairs for a start.
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Dec 15, 2012, 12:32 AM
Thanks @ Prospera, just tinkering around lang, will heed you suggestion on the live account, hope to learn more from the forum
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Dec 20, 2012, 05:26 AM
Sa mga experienced trader or expert, ano po masasabi nyo sa VSA or volume spread analysis?

Worth it bang aralin un nga mga newbie kagaya ko? Salamat

Title: Re: Newbie Guide to Forex Trading
Post by: acbana on Dec 20, 2012, 06:29 AM
worth it-yes.
It is one of all lagging indicator. No "leading indicators". Means you just need to follow the trend.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 20, 2012, 01:04 PM
Sir,
on the contrary, merong mga leadingg ind icator.
kailangan lang magresearch at magpractice ng mabuti.

kung sa tao, may leader at follower, ganun din sa mga indicator - may lead. at lag. indica tors.
Once experience grows, mahahanap nyo rin sila ;)
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Dec 20, 2012, 01:24 PM
Sa mga experienced trader or expert, ano po masasabi nyo sa VSA or volume spread analysis?

Worth it bang aralin un nga mga newbie kagaya ko? Salamat



there's no volume for forex...since its not a centralized market...
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 20, 2012, 01:41 PM
^That's true. What's reported on the MT4 platform is tick-count. If one wants volume data, s/he can trade currency futures instead of spot-forex.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Dec 20, 2012, 02:11 PM
well, actually the ATR indicator is the closest thing forex traders have to volume
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 20, 2012, 02:50 PM
meron naman vol., decentralized nga lang. tick vol. ang gamit sa v s a
pwede rin pagbasehan ang vol. sa currency futures.

may mga nagsasabi nga na mas ok pa i-trade ang currency futures, kaso mahal yata para sa karamihan :D (nagmura na yata ng konti recently)

ST lang. sipag at tyaga , para makamit ang tagumpay sa kahit anong bagay at mithiin :D

Happy Holidays sa lahat  :bday:
Title: Re: Newbie Guide to Forex Trading
Post by: chiz_wiz on Dec 25, 2012, 11:43 AM
... whew... ang hirap pala talaga mag trade ng forex... talaga bang profitable ang forex? ma eexpire na lang ang demo accnt ko parang d pa rin ako ready
Title: Re: Newbie Guide to Forex Trading
Post by: Mang_Ambo on Dec 28, 2012, 02:32 PM
advance happy new year sa lahat :)
tanong lang po nagregister me sa OANDA for live account hingi sila mga document.prob ko is nakapangalan sa ate ko un mga utility bills ok lang ba un? un id pwede ba company id or sss id send ko?expired na kasi passport ko eh :) advice lang po pls help :) any advice is highly acceptable po :)
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 28, 2012, 02:47 PM
makipagchat po kayo sa Oanda para sigurado. baka d pwede yung util. bills ng ate mo. tanong nyo na rin Sir sa kanila, pati yung mga options nyo.

option nyo is, mag open ng account under her name. kaso baka magkaproblema kayo in the future pag kumita na kayo :D
Title: Re: Newbie Guide to Forex Trading
Post by: Mang_Ambo on Dec 28, 2012, 04:14 PM
thanks sir Ferrarieverest kachat ko sila now.hindi daw pwede un sa ate ko dapat nakapangalan sa akin.pinaupdate ko nalang un address na niregister ko sa kanila :) para un bank statement ko nalang isusubmit ko :)
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Dec 28, 2012, 10:28 PM
^mga sir di po ba pwede ang paypal id/account lang for a live account registration? yun po kasi ang balak ko in the near future.

btw, nakachamba uli. :hihi:
(http://i45.tinypic.com/5ea1jo.jpg) (http://i45.tinypic.com/5ea1jo.jpg)
leverage:50 +73.3pips
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Dec 29, 2012, 12:42 AM
Question po... ano ma-aadvise nyo po sa mga newbie regarding sa over trading?

I mean, dapat bang isipin always protect your profit pag na reach mo na target profit mo? or magopen pa ulit kasi its an oppurtunity to trade and learn? syempre sa mga newbie small time muna ang target profit, pano pang nareach agad, bukas na lng ulit?

Naisip ko lang... wala naman ako matanungan... hehehe! :D dito lng.

Salamat ng marami at God bless! :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Dec 29, 2012, 02:32 AM
Sir freeman,
galing.  tuloy tuloy lang ang trade at practice!

Sir the_eleventh,
mejo komplikadong tanong kung saan ultimately personal preference mo ang susundin mo.

para sa overtrading, as much as possible stick to your plan.
stick to your plan lalo na kung predisposed ka mag-overtrading.

1. preserve capital
2. protect profits

assuming na hit mo na ang target mo, at assuming may clear opportunity na may ibubuga pa ang price that session/day, you can reenter, syempre with careful analysis pa rin.
ang mas magandang gawin ay, magbukas ka ng multiple positions mula umpisa. let's say 2 or 3 positions.
HATIIN mo yung sa 2 or 3 yung position mo, HINDI mo gagawing doble or triple yung original position mo. please take note of this.
let's say umandar na ang price, you can exit at multiple targets. exit position #1 at initial target, tapos leave positions #2 and #3 open. sa ganitong paraan, may 'pato' or 'manok' ka pa sa laro.
manage positions #2 and #3 as best as you can --- trail mo stop mo or lagay mo stop at BE/BreakEven (entry price) or better (BE + x pips).
yung positions #2 and #3 pwede mo lagyan ng fixed targets or pabayaan mo lang open (bahala na kung san mapadpad yung price as it moves pabor sayo).
sa trade management mo magbabase kung hahaba ang buhay ng remaining positions mo.

sa akin, depende sa nakikita ko at depende sa instinct at circumstance.
kung tingin ko mejo malayo pa ibabyahe nung price, reenter.
circumstance-wise, kunwari inaantok na ko or alanganin yung oras (late New York, or during asian session), pwedeng magdalawang isip ako na magre-enter.
TIP: trade ka during 2 pm -11 pm sa oras natin. sa labas ng oras na yan, mas bihira yung ok na opportunities, unless paborito mong magtrade ng patay ang oras/low volatility
Title: Re: Newbie Guide to Forex Trading
Post by: Ping on Dec 29, 2012, 09:31 AM
well, actually the ATR indicator is the closest thing forex traders have to volume


Paano gamitin ang ATR?  Someone told me good indi for TP yun eh?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Dec 29, 2012, 10:06 AM
Hi, Ping. :hello:

You might want to read this:

http://www.babypips.com/blogs/pick-of-the-day/using_atr_to_calculate_potenti.html
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Dec 29, 2012, 10:50 PM
Thanks ferrariEverest....  :thankyou: sa matyaga mong pagsagot sa tanong ko.

Marami pa akong tanong eh... pero next time naman ulit :D



Happy New Year sa lahat!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 02, 2013, 08:13 AM
@Ping: Here's a youtube video showing how you can use the ATR to trade breakouts--

http://www.forexbees.com/tag/forex-atr/
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Jan 04, 2013, 11:47 PM
hello pips!

mukhang maganda bungad ng taon 2013 ah, un talo ko nung since nagstart ako nun dec, nabawi ko two days ago at ngayon im on my way... slowly but surely. siguro medyo nag pay off na un marami kong time ng pagbabasa pero syempre im still a newbie, still a lot to learn and long way to go..

sa mga nabasa ko at natry na trading strategy, this one is for newbies... "Price action for dummies" sa babypips forum.. natry ko sya (sa demo and live) and it works (at least for me).

I am a work in progress pero I can see some pips :yoohoo:.. hehehe!
Good luck sa newbies! :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: alyas_eric on Jan 08, 2013, 02:05 PM
Hello,

May tanung lang ako.. okay ba yung iforex na online trading?? thanks sa mga replies nyo..
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Jan 08, 2013, 04:36 PM
Bosing, I suggest you go with ..

Oanda
Exness
Go Markets AU
FX Solutions

See to it na reliable ang broker mo and part ng top financial regulations para walang problema bosing :)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 10, 2013, 09:19 AM
Guys/gals: You might want to check out this scalping strategy I found on youtube--

http://www.youtube.com/watch?v=6LQbT_MN2Pc
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jan 10, 2013, 02:39 PM
@ Prospera,

ok naman yan, pero that is assuming tama yung trade direction nung scalper AT alam nya kung kelan at saan hihinto yung trend.
ang problema, napakaliit nung tinuro nyang targets at napaka-tight ng stops na tinuro nya. a BIG adverse move will definitely wipe out all/nearly all the profits.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 11, 2013, 12:11 PM
^Hi, fE: It's a scalping strategy, after all, so tight stops and smaller profit-targets are to be expected.

I just thought it's a neat, simple strategy that some people might like. To lessen risk, refrain from going counter-trend or use a longer time-frame (like the 15-minute chart).

Title: Re: Newbie Guide to Forex Trading
Post by: chiz_wiz on Jan 11, 2013, 12:52 PM
sa dami ng mga binabasa ko about stocks and forex trading, na overwhelm na yata ako... information overload.. hehehehe
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jan 11, 2013, 08:43 PM
ano ratio ng positiion kadalasan ng isang scapler
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Jan 12, 2013, 05:15 AM
sa dami ng mga binabasa ko about stocks and forex trading, na overwhelm na yata ako... information overload.. hehehehe

try mo un price action trading or naked trading (no indicators), if meron man, konti lng for confirmation, newbie friendly sya para sakin pero medyo matagal lng maghihintay (patience) which is problema ng mga newbie kayaga ko.. hehehee

one month old na ko sa forex, fortunately ok pa naman account ko, micro lot lng naman account.

Good luck sa lahat ng forex trader this 2013!
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 12, 2013, 09:50 AM
ano ratio ng positiion kadalasan ng isang scapler

Are you referring to risk vs reward? I think most scalpers don't gun for the  recommended 1:2 ratio but are okay with keeping their potential loss at least equal to their potential gain (that is, 1:1).

Scalping isn't for everyone, of course, as it can be draining.That's one reason some traders use EA's when employing this strategy.

Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jan 12, 2013, 06:32 PM
^ yung range ng position nila po
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 13, 2013, 05:47 PM
^Hi, ect1. Can you clarify what you mean exactly?
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jan 15, 2013, 11:56 AM
yung layo po ng sl at tp ng position nila halimbawa 500 points sl 1000 points tp
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 16, 2013, 09:04 AM
^Pag scalping kasi, usually kontento ka na sa mas maliit na profit bawat isang trade, halimbawa kahit 3-5 pips lang, using say, the one-minute chart. And you should be able to get out of a losing trade quickly, too.

Kaya nga, scalping isn't for everyone, really, esp. newbies. In most cases, high frequency trading (aka scalping) is done by pros using automated systems run on state-of-the-art computers.
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Jan 18, 2013, 02:29 PM
^ mam maiba lng konte tanong lang baka sakaling alam mo to ginogoogle ko pero d ko n mahanap.. alam mo mag compute ng average gamit ang derivative?? parang kasing meron ako na google dati ng ganun d ko n lng malala hahaha :D
Title: Re: Newbie Guide to Forex Trading
Post by: the_eleventh on Jan 19, 2013, 01:50 AM
Tanong lng po, magkano po un minimum na pwd ideposit to open a MT4 account sa Oanda... di ko kasi magets un sabi sa baba eh, pwd rin po pasamahan na rin ng example. Salamat and more pips to all!

Oanda MT4 -
"there is no minimum deposit required. However, note that the smallest MT4 trading size is the micro lot (1,000 units), so at a leverage of 50:1 the minimum amount of margin required to make this minimum trade would be 20 units (or more for lower leverage)"

Thank you..
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Jan 21, 2013, 09:19 AM
Just opened a live account last week, tips on how to veer away from scalping, my plan was not to scalp its  tedious, was planning to only trade when there is a good set-up, but even when i have this at the back of my mind, seems kinda hard to stick to it when i see price rise and fall, from profit to loss, so when it comes back to profit have the strong urge to close position.
tips and suggestions will be appreciated :)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 21, 2013, 10:27 AM
@ect1: Sorry, no idea re your question.

@the_eleventh: Try opening with an initial $50 deposit and use micro-lots (.01 would be equal to 10 cents per pip). One drawback, to me, of an Oanda account is the 50:1 maximum leverage offered versus other brokers' 400:1. As long as one makes use of leverage judiciously, that's a bonus since you won't get a margin-call as easily because of the lower deposit required to maintain a position.

@bzboi: Try using a higher time-frame (1 hour and up). Set a target-profit and a stop-loss and then leave it alone. If you need to check, do so only once every hour. Once you get used to doing  this, you won't be as tempted to scalp.
Title: Re: Newbie Guide to Forex Trading
Post by: bzboi on Jan 21, 2013, 10:37 AM
@ Prospera, thanks for the advise, im using H4 time frame, i have a stop loss but open target profit, trying to stay away once order is done , but since real funds and first time live account, am tempted very much to keep watch, hopefully as i learn and know more about the market, i can learn to control. first time jitters.
iba talaga using real funds
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 22, 2013, 10:16 AM
funny thing about time frame is that different brokers have different time settings... :hihi:

lately, i've been comming to the conclusion that technical analysis is like "cloud hopping"...

you know that game some kids play, you stare at the clouds and make out whatever figure you see...

sometimes you see a man, but others see a dog, others see a mountain...

same thing with technical analysis...

take a group of traders, show them a chart, any chart...

one will say bullish, one will say it's reversing, one will say its consolidating, one will say its just pulling back to regain momentum... :hihi:

anyway, that's just me...
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 22, 2013, 10:56 AM
^I actually agree, Sagad. If you take a look at the currency forecasts of the experts polled by fxstreet, for instance, it's often a toss-up among those who think the E/U, say,  will rise or fall or go sideways in the course of trading during the week/month.

Which is why self-reliance is important: the herd mentality can get a trader slaughtered.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 22, 2013, 01:07 PM
^^ correct...

that's why i smile when i read abt forecasts...

sometimes,i wonder if they derive pleasure from using "big words" to make them appear good or make themselves feel good abt themselves...

especially if their forecasts would materialize....

which is understandable enough as humans desperately need validations... :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: chiz_wiz on Jan 23, 2013, 09:38 AM
.. so whats the point of analyzing the market using TA? if its just like a " cloud guessing " game?
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Jan 23, 2013, 09:57 AM
^Because FA doesn't cut it either. It's a probability game; it's the nature of the beast. Get used to the uncertainty. Better yet, embrace it.
Title: Re: Newbie Guide to Forex Trading
Post by: SAGAD on Jan 24, 2013, 01:26 PM
^^^ correct again...

Prospera used the  two important words in trading the markets...

"UNCERTAINTY"

"PROBABILITIES"

Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Jan 25, 2013, 11:25 AM
kaya ako, intay na lang ng mga trends before i enter. like the usd/jpy these past few days...

i tried to short prior to the trade in the pic below but but i failed (-140pips), kaya nahuli ko yung support in this pic...
(http://i47.tinypic.com/xepjde.jpg) (http://i47.tinypic.com/xepjde.jpg)

usd/jpy +200pips  :D
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Feb 01, 2013, 12:58 PM
finally i opened a live account with 30USD (maliit lang muna para mejo mahimbing ang tulog sa gabi kahit may open trades :hihi:)

and my 2nd live trade (sablay kasi yung unang batch -5USD at least today +4 na ako  :D)
(http://i48.tinypic.com/30blqp2.jpg) (http://i48.tinypic.com/30blqp2.jpg)
lev:1:25

sana maging batikan din ako one day tulad ng mga masters of Fx dito sa pmt!  :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Feb 08, 2013, 04:16 AM
There will be forex orientation - a primer in forex this coming Saturday, Feb. 9, 2013 at the PSE Ortigas. It will be conducted by Mark So of Forex Club Asia. If you are interested and would like to take part on the largest traded market in the world-forex check out their seminar website for more details at topforexseminars.com. See you there!
Title: Re: Newbie Guide to Forex Trading
Post by: monkeydluffy on Feb 13, 2013, 05:43 PM
how to create demo account and can i double the amount...tanong lang po..
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Feb 13, 2013, 07:55 PM
^Hi. You might want to stop by babypips.com first before opening a demo account. It also helps to backread threads on this folder to see if some of the questions you have had already been asked and answered.
Good luck!
Title: Re: Newbie Guide to Forex Trading
Post by: knigh on Feb 14, 2013, 04:22 PM
may paypal ba na fx broker?
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Feb 14, 2013, 06:51 PM
:)

http://www.pinoymoneytalk.com/forum/index.php?topic=43140.msg444474#msg444474

http://www.pinoymoneytalk.com/forum/index.php?topic=43140.msg444475#msg444475
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Feb 19, 2013, 08:03 PM
Day Trading Forex Live will open to the public their live training room this coming Thursday, February 21, it will be 2 session, one during the London session opening and another during the New York session opening. Learn how the banks (10 banks control over 75% of the daily volume of the forex market) trade the forex market and trade with them not against them.

To get an exclusive invite to this event subscribe to their website.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Feb 26, 2013, 11:52 AM
grabe, nadale ako ng drop na ito.  :wall:

(http://i45.tinypic.com/zsqxw5.jpg)

:cry:

still, never quit, never surrender, never say die!

Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 02, 2013, 03:52 PM
@freeman12, anung entry mo sa UJ posted image na yan?
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 04, 2013, 06:48 PM
@batangpromdi_v2

long at 94.10 and 94.12, 0.05 lot each. nagulat na lang ako nung pagopen ng market ng monday (feb 25) biglang ganung kalaki yung drop. tsk!
ubos si $30.

lesson learned (sa hard way): always remember to put stops!
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 05, 2013, 06:45 AM
walang stops? mahirap yun.

additional tips
- be familiar with forex trading hours, forex opens in australia 6am est and closes at new york 5pm est (however, charting can vary kasi iba-iba ang offset ng mga brokers, on my end, my mt4 is set to close daily candle sa new york time.)

- be familiar sa calculation ng tick value, important yan for risk/reward. visit this site http://www.fxtrademaker.com/fx_calculation.htm and plot those formulas sa excel file. useful yan when trying to position, but not really if your just scalping. but pays to know how much your risking vs sa potential reward. when scalping, my risk is 3 pips, reward is 15

- you don't need to follow 32 pairs to be profitable. i only follow one pair and i've been doing forex for almost a year now. EURUSD liquidity and the economies involved in moving it is enough for me and i do this for a living.




Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 05, 2013, 11:35 AM
thanks for the tips batangpromdi_v2.

i'm still a bit confused sa est gmt times..

sydney market opens at 6:AM and closes at 2:PM (ph time)
tokyo: 8:PM to 4:PM (ph time)
london: 4:PM to 10:PM (ph time)
new york: 9:PM to 3:AM (ph time)

so the best (philippine) time to trade is 4pm to 11pm?
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 05, 2013, 01:42 PM
(http://img26.imageshack.us/img26/7083/forexhours.jpg)

@freeman12. here is the forex market hours based on our local time. we are GMT +08:00

check here: http://www.forexmarkethours.com/ (http://www.forexmarkethours.com/)

london starts at 4pm - 1am local time
new york session starts at 8am est and closes at 5pm est. that is 9pm - 6am local time.
so, from 9pm local time to 1am local time, open pareho ang london at new york, andyan usually ang maraming action.
a new daily candle will form after new york close, marking opening of sydney at 9am edt (6am local time)

london usually sets the phase for new york session. if may trend sa london, most often, continue lang yan sa new york, unless some news events would change that. and if nagkaroon naman ng trend sa ny session, asian session will likely continue that way as well.

okey rin naman mag-trade sa london, but i mostly do trading during the overlap, dyan yung time maganda mag-scalping. if i would intend to use daily chart, i'll check anu ba ang closing candle, sino ba ang nanalo sa 24 hours trading, sellers ba or buyers. i would then place a trade if i see strong conviction either from buyers or sellers. as this conviction will likely reflect sa rest ng asian session.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 06, 2013, 06:14 PM
thanks batangpromdi_v2 :)

i hope to become like you guys someday.

here's my gift, paki download na lang. :hihi:

(http://sphotos-g.ak.fbcdn.net/hphotos-ak-ash4/207346_434802769927092_296666562_n.jpg)
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 08:55 PM
Hi Guys.. I'm a newbie here, I am really interested in Forex Trading. May masusuggest ba kayo ano ba magandang broker to start with?
Title: Re: Newbie Guide to Forex Trading
Post by: jayme00 on Mar 06, 2013, 09:08 PM
hi bea! good thing you're into forex trading. I have few brokers in my mind pero wala silang office dito sa Phillippines. Been trading with different brokers already and few of the best brokers I've tried are gft and fxcm.
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 10:14 PM
Hello jayme! thanks for the reply.. dami ko nga nadidinig na good feedbacks about gft and fxcm kaso di ako makapili alin sa dalawa, gusto ko din kasi sana may local support..
Title: Re: Newbie Guide to Forex Trading
Post by: jayme00 on Mar 06, 2013, 10:20 PM
Both have strong foundation already. Sila yung mga naunang broker house then nagsulputan nalang yung mga maliliit na retailer. But for me fxcm is better. Wala naman ako naging problem with them kahit na wala silang office dito. On time sila lage sumagot sa mga inquiries ko lalo na sa support. Pero I hope magkaron din sila ng office dito. Once nagkaron sila ng office dito for sure maraming magoopen ng account with them. They also have their own platform. And your money is really safe with them. Try to open accounts with different brokers then choose the best one. That's what I did before.
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Mar 06, 2013, 10:23 PM
^^ Hi, bea. Forex brokers with local presence, as far as I know, are Admiral Markets, iforex, EasyForex.

Try doing a backread and you might pick up a lot of useful info.

Good luck!
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 10:30 PM
Hello there Prospera! nadinig ko nga may office daw dito yung Admiral Markets. Pero dami ko nadidinig at nababasa na di sila ganun kasuportado sa mga clients nila. I have one friend na nag open ng account sa kanila, after maglagay ng pera di na daw sya inalagaan. sa una lang ok.. tapos lagi pa daw requotes..

Easyforex naman diba nagsara na yun? iforex? hmmm.. wala pa ako masyad nadidinig na feedbacks dito.

Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 10:35 PM
Both have strong foundation already. Sila yung mga naunang broker house then nagsulputan nalang yung mga maliliit na retailer. But for me fxcm is better. Wala naman ako naging problem with them kahit na wala silang office dito. On time sila lage sumagot sa mga inquiries ko lalo na sa support. Pero I hope magkaron din sila ng office dito. Once nagkaron sila ng office dito for sure maraming magoopen ng account with them. They also have their own platform. And your money is really safe with them. Try to open accounts with different brokers then choose the best one. That's what I did before.

wow jayme looks like u really did a research on  the best brokers around. matry nga diyan sa gft and fxcm...
Title: Re: Newbie Guide to Forex Trading
Post by: jayme00 on Mar 06, 2013, 10:41 PM
^^ Hi, bea. Forex brokers with local presence, as far as I know, are Admiral Markets, iforex, EasyForex.

Try doing a backread and you might pick up a lot of useful info.

Good luck!

sa makati yung office nila right?
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 10:45 PM
sa makati yung office nila right?

Yes. Sa Makati nga yun..
Title: Re: Newbie Guide to Forex Trading
Post by: jayme00 on Mar 06, 2013, 10:47 PM
wow jayme looks like u really did a research on  the best brokers around. matry nga diyan sa gft and fxcm...

Try to do the research. It's like comparing an iPhone from apple store to iPhone (fake) from China. If you'll invest your own money you should invest on trusted brokers, the bigger ones and established already. And be careful with brokers from Europe/Russia (scam capital).
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 11:01 PM
Try to do the research. It's like comparing an iPhone from apple store to iPhone (fake) from China. If you'll invest your own money you should invest on trusted brokers, the bigger ones and established already. And be careful with brokers from Europe/Russia (scam capital).

Thanks for the info Jayme. Sana may indicator din para malaman kung scam broker ba yung ininvestan mo o hindi hehe..The best nga siguro yung mga Brokers form US and UK
Title: Re: Newbie Guide to Forex Trading
Post by: jayme00 on Mar 06, 2013, 11:13 PM
Thanks for the info Jayme. Sana may indicator din para malaman kung scam broker ba yung ininvestan mo o hindi hehe..The best nga siguro yung mga Brokers form US and UK

Am also hoping for that. he he.. That's why many traders are waiting for big institutions like fxcm and gft to open a local office here.
Title: Re: Newbie Guide to Forex Trading
Post by: beaperez888 on Mar 06, 2013, 11:30 PM
I hope magkaroon nga dito office or local support man lang yung FXCM or GFT. gusto ko kasi talaga naaalagaan ako as I progress on my own trading.. maganda may support group :)
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 07, 2013, 12:05 AM
@beaperez888: try to visit this page, http://www.forextradingzone.org/articles-How_to_Choose_a_Forex_Broker (http://www.forextradingzone.org/articles-How_to_Choose_a_Forex_Broker)

don't be too complacent of brokers having local offices, what you should be looking for are compliance with various regulatory bodies. also, please be aware that there are 2 types of forex brokers, ecn and retail.

as overview, retail broker acts as market maker. they trade against your position. remember when your mom told you to stay at home? that's like the retail broker saying that the trading environment your in is a sandbox. you place a trade, they decide the price or the spread. the benefit, no commission, but higher spreads and lots of slippage. i won't say more, just google for more info. if a broker can get you started with $1 and give you $200 bonus, that's a retail broker.

ecn on the other hand is like an interbank desk who consolidates quotes and give you the best price. the lowdown here is that you have to pay commission on each trade. occasional slippage as well, but mostly to your advantage since they'll wait for the best price to get you filled, if your selling at market or closing your position at market price. spread is really tight as low as .1.

i also read on your post na gusto mo may "mag-aalaga sayo" as you progress sa forex. please bear in mind that this is a business and no one has your best interest at heart but you. these brokers offer free fx education, but it will all boil down to how you handle the pressure brought about by investing money to a very volatile market. don't expect forex brokers to babysit you. however, PMT will be happy na alagaan ka.

if your just starting. you can test drive all the platform from different brokers you can think of.


Title: Re: Newbie Guide to Forex Trading
Post by: tankbeta on Mar 07, 2013, 12:17 PM
thanks batangpromdi_v2 :)

i hope to become like you guys someday.

here's my gift, paki download na lang. :hihi:

(http://sphotos-g.ak.fbcdn.net/hphotos-ak-ash4/207346_434802769927092_296666562_n.jpg)

ganda naman kaya lang laki.. ok na ako sa Ultra slim na laptop :) tapos incase may technical analysis ikabit nalang yung tatlong monitors hehe
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 07, 2013, 04:27 PM
pili ka na lang tankbeta  :hihi:

(http://sphotos-d.ak.fbcdn.net/hphotos-ak-snc7/574859_434805163260186_1899447502_n.jpg) (http://sphotos-e.ak.fbcdn.net/hphotos-ak-snc7/226926_434804509926918_1147079653_n.jpg) (http://sphotos-f.ak.fbcdn.net/hphotos-ak-ash3/601453_434805659926803_2025930290_n.jpg)
Title: Re: Newbie Guide to Forex Trading
Post by: Prospera on Mar 07, 2013, 06:48 PM
^What do you call those, fm12? May ganun talaga?

Nga lang, hindi yata conducive for trading forex; baka for PSE stocks p'wede... :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 07, 2013, 07:42 PM
i think prototypes lang sila ma'm. pero gusto ko yung idea, space saver at comfy pa. parang business + pleasure na din. :) oo nga po parang designed sya para sa pangmatagalan na trades :hihi:
Title: Re: Newbie Guide to Forex Trading
Post by: cheezecake on Mar 07, 2013, 08:22 PM
my friend is earning a lot in forex parang 100% per month ang gain niya.  He is encouraging me to join him and I tried to read info and honestly nahilo ako LOLZ
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Mar 08, 2013, 10:56 AM
^ sabihin mo kami don sa frnd mo n yun n help the poor  :D
Title: Re: Newbie Guide to Forex Trading
Post by: waitingking on Mar 08, 2013, 12:16 PM
mga sir, magkano po ba ang ideal na magiging initial capital ng forex? maraming salamat sa inyo.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 08, 2013, 05:19 PM
assuming may extra kayong pera at nakapag demo na kayo ng matagal (at least 6-12 months) Sir,
pwedeng $10 - $100, tapos palakihin mo na lang.

pwede ring $100 - $1000 para mas may "breathing room" at hindi masyado gipit.
practice ng mabuti at wag masyado mag expect (ng malakihang profits) within the first 1-5 years ng journey at account mo. maging optimistic pero realistic. focus on improvement in skills and experience, hindi sa profits. You must love trading para tumagal po kayo.

Good luck Sir!
Title: Re: Newbie Guide to Forex Trading
Post by: rabbit on Mar 10, 2013, 09:29 PM
sir/maam ..i wanted to have multiple source of income..hope u can suggest something..im looking for forex or mutual fund? which is better with less risk?when u sau long term s forex mga ilan years po? tnx sana may advise or comment
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 10, 2013, 10:06 PM
@rabbit, it sounds that you don't know much about mutual funds and forex. i won't suggest long term if you don't have an idea what your money is paying, and i won't even suggest going long term on forex lalo na wala ka pa masyado idea, i would assume that kasi you were asking what is less risky..

for your own good, i'll be honest with you. the risk is actually in you entering into something, short term or long term, and you don't have an idea about it. due diligence is required. long term does not mean "less risky". the risk there is the moment you entered into an investment without prior knowledge of what your getting into.

but i'll give some resources you may find useful:

http://www.pifa.com.ph/memlist.asp (http://www.pifa.com.ph/memlist.asp) - list of mutual funds in the philippines, check their sites, email them or contact them baka meron sila mga seminars

http://fami.com.ph/ (http://fami.com.ph/) - most people i know are invested on this fund

for MF pa rin, research the different type of funds and decide what's best for you. also check the fees, and some other procedures you need to follow.

now, about forex, you may visit http://www.google.com.ph/aclk?sa=l&ai=C6IszIZM8Uf-sF8n2rQf99IHQBL-OyfcBx4LXmhiKgpmoMQgAEAIgtlQoAlCJ6viT-_____8BYOEEoAGh27X8A8gBAaoEHE_QvLozijOenE2OlcEFCUqMOsaM2oXRfkafVHaABZBOgAfHpMoD&sig=AOD64_0luyXdJwADRnW-P_y7zKRFZP3bIw&ved=0CDcQ0Qw&adurl=http://www.babypips.com/school/%3Fctt_id%3D8309352%26ctt_adnw%3DGoogle%26ctt_ch%3Dps%26ctt_entity%3Dtc%26ctt_cli%3D8x13534x163182x1404027%26ctt_kw%3Dbabypips%2520school%26ctt_adid%3D6403408591%26ctt_nwtype%3Dsearch&rct=j&q=babypips+school (http://www.google.com.ph/aclk?sa=l&ai=C6IszIZM8Uf-sF8n2rQf99IHQBL-OyfcBx4LXmhiKgpmoMQgAEAIgtlQoAlCJ6viT-_____8BYOEEoAGh27X8A8gBAaoEHE_QvLozijOenE2OlcEFCUqMOsaM2oXRfkafVHaABZBOgAfHpMoD&sig=AOD64_0luyXdJwADRnW-P_y7zKRFZP3bIw&ved=0CDcQ0Qw&adurl=http://www.babypips.com/school/%3Fctt_id%3D8309352%26ctt_adnw%3DGoogle%26ctt_ch%3Dps%26ctt_entity%3Dtc%26ctt_cli%3D8x13534x163182x1404027%26ctt_kw%3Dbabypips%2520school%26ctt_adid%3D6403408591%26ctt_nwtype%3Dsearch&rct=j&q=babypips+school)

read thru the topics then decide if you are ready to invest long term sa forex.
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Mar 10, 2013, 10:15 PM
Hi Rabbit, forex is very volatile and unless you really know what you are doing I suggest make forex as your long term investment your last choice, it is classified as high risk investment. I'll go with mutual fund, check out Philam or PhilEquity if you want it invested in stocks, Colfinancial also offers flexible stock market investing.
Title: Re: Newbie Guide to Forex Trading
Post by: rabbit on Mar 11, 2013, 12:28 AM
@@ batangpromdi_v2 and pinoyips tnx so much po..i guess less risk for mutual funds based sa weight ng advise nyo po...tnx again
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 11, 2013, 06:08 AM
@rabbit, better visit http://www.pinoymoneytalk.com/forum/index.php?board=93.0 (http://www.pinoymoneytalk.com/forum/index.php?board=93.0) mas marami makakatulong dyan about MF

you can study forex online, just for to that link i provided. huwag ka magsayang ng pera for seminars about forex, learn online the way most of us did.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Mar 21, 2013, 10:43 PM
my first 250+ pip gain, thanks to pmt :yoohoo:

(http://i47.tinypic.com/29p6q85.png)
0.1 / 1:50 / live (pero maliit lang po ang na puhunan  :) )
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Mar 22, 2013, 01:15 PM
There is no holy grail in forex trading but a sound money management can keep you in this business for a long time. Trading strategy should follow once you have a good money management and this goes the same with other business. I have specific money management basics that I'm using in forex trading. Risk only 2% of your account at any given time, aim for 1:2 risk reward ratio or better and do not over trade.
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Mar 26, 2013, 03:55 AM
Last week I've seen a post in an fb group asking is forex trading easy? I believe this question does not make sense and I think what make sense and a more relevant question is "is forex trading worth it?" http://www.kumitasaforex.com/2013/03/is-forex-trading-easy.html
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Mar 26, 2013, 10:50 AM
forex trading is not easy, but can be made simple, with a trading plan and discipline. is it worth it? yeah. just imagine the free time afforded to a full time trader like me. xbox for breakfast, tennis match with my daughter before lunch, and playing with my dogs in lazy afternoons.

im a full time trader but im not glued to the monitor all day. i open my chart at Sydney open, London open and NY open, from there, i just need about 10 seconds see obvious trade setups. if there no setup, there is no trade.

people fail to see this since they are too focus trading. they have a plan but they ruin such plan since they lack the discipline. they stare all day at the monitor trying to manifest a signal that isn't there. they trade MACD for now, RSI later, and bollinger bands during a particular session. i dont use indicators. what i like about forex is it's adherence to horizontal support and resistance. as a full time trader, my strategy is more on analyzing traders and what they are bound to do when price hits a resistance level/support level. it's all there on the chart.

Title: Re: Newbie Guide to Forex Trading
Post by: Chris592 on Mar 26, 2013, 10:57 AM
You were given a great advice!
Title: Re: Newbie Guide to Forex Trading
Post by: pinoyips on Mar 27, 2013, 05:01 AM
batangpromdi_v2 you are an inspiration to all forex traders specially to us looking to succeed in this field! Thank you for sharing your thoughts and experiences for others to learn.
Title: Re: Newbie Guide to Forex Trading
Post by: forexaddict on Mar 27, 2013, 11:50 PM
Hi newbie po ako, i'm still on forex demo accnt for 2 mos. Nasa medical field po ako. I really wanted to invest into stocks/forex since then. After i passed my board exam last year, i decided to learn forex  before i'l have my residency training. I know very stressful yung life sa training.  i'm planning to earn atleast $30-50/day while on trainig para may extra income hehehe.
Is it feasible ba pagsabayin ang forex trading while on training?  is anyone  a doctor here who invest on forex ? tnx po :help:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 28, 2013, 05:25 AM
Sir,

long answer:
napakahirap pagsabayin kasi parehong mahirap lalo na pareho nyo ite-train sarili nyo sa dalawang widely different fields.
yung isa involves working with humans. yung isa naman you deal with money.
ang concern ko pag nagkaproblema kayo sa trading (in the form of losses or bad open trading positions), baka maapektuhan ng sobra ang concentration nyo at maapektuhan or magkaproblema ang performance nyo as a resident. posible rin kayo mapuyat sa parehong field. sa case nyo, u really don't need a second DAILY/regular stressor, sobrang bugbog na katawan nyo :D

saka if you want to earn daily, hindi na po investment yun, trading na yun, kasi daily na kayo titingin at aanalyze ng charts.

the short answer to your question is: posible pero napakahirap. posible pero hindi agad agad.

i highly suggest pag isipan nyo muna. pag decided na kayo to pursue it, aral AND practice muna for about 6-12 months (habang ipon). then since super busy kayo, you can perform yung tinatawag naming daytrading the higher timeframe charts (4-hour, daily, or weekly charts) - a good compromise since makakatrade pa rin kayo kahit super busy.
check nyo po James16 thread (para matutunan ang trading gamit ang support and resistance - highly recommended) at Babypips school (links on my thread's first post  http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0 )

Good luck Sir!
Title: Re: Newbie Guide to Forex Trading
Post by: forexaddict on Mar 28, 2013, 11:14 AM
hello po sir ferrari,

i love a ferrari car ever since hehe.. anyway maam po ako..  nbasa ko n po yung babypips. I've read everything here sa thread. 5mos na po ako badbad dito at ngaun lng po me ngpost. tnx for the advise. I'm hoping that someday i'll gain the right attitude or discipline when it comes to trading.
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Mar 28, 2013, 12:59 PM
Welcome to PMT Miss ForexAddict :) and Welcome to the World of Up and Down Bars :D
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Mar 28, 2013, 02:21 PM
hello po sir ferrari,

i love a ferrari car ever since hehe.. anyway maam po ako..  nbasa ko n po yung babypips. I've read everything here sa thread. 5mos na po ako badbad dito at ngaun lng po me ngpost. tnx for the advise. I'm hoping that someday i'll gain the right attitude or discipline when it comes to trading.
ay sorry, ma'am pala :D (libre turo ko sa mga Ma'am at mahilig sa ferrari hahaha! )

ok po yan, 5 months na kayong nakababad sa basa. dagdagan nyo pa ng extra 5 years ng aral & practice (parang residency lang din). ;) basta wag susuko kahit ano mangyari. may patutunguhan ding maganda ang persistence.
ang nakikita kong future nyo ay isang forex trader na nag-memedical mission na using forex profits :D pwede tayo magcollaborate siguro 5-10 years from now. may related mission kasi ako. :D

ingat lang po sa babypips ngayon. ang alam ko may nanghack sa website nila, so may virus yata yung website. para sigurado palitan nyo password nyo, and make sure may antivirus yung PC na gamit nyo. last year yata, nangyari din sa twitter yun.
Title: Re: Newbie Guide to Forex Trading
Post by: forexaddict on Mar 28, 2013, 04:25 PM
hello po ulit sir ferrari,

 you got it right sir.. tnx sa advices po... Sana mgkaroon ako ng perseverance and endurance to learn forex trading like i'm use to be in medskul... tnx a lot
Title: Re: Newbie Guide to Forex Trading
Post by: Synapse on Mar 28, 2013, 08:35 PM
Anong mission mo bosing FE? Ako .. gusto kong mag pabahay sa karapat dapat bigyan ng bahay .. At mag sponsor ng isang medical research group  -- "How to kill greed and stop being impatient" .. hahahahaahaha
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 10, 2013, 09:13 AM
Sorry sa late reply.

Marami boss :D

ang dream goal ko is makapagvolunteer ng time and money ng SABAY. nung mga nakaraang taon, hiwalay ko kasi naibo-volunteer ang time at money. sa future, gusto ko sabay. :D
ang maganda pag nagvovolunteer ka ng time (in other words, magbubuhat ng mga karton ng mineral water or de lata, magpapack ng donations - disaster relief operation gaya nung mga nagdaang bagyo) ay may nakikita kang artista or ikaw mismo makikita sa TV, hihihi :D

tapos, feeding program sa mga mag-aaral gaya nung nakikita ko sa tv. yung mga mag-aaral kakain muna bago pumasok sa skwela. tumataas yung grades nila kasi may laman ang tyan at utak nila. napaka-long term effect ang dala nito.

tapos, yung napag-usapan sa itaas, medical mission saka patayo ng bahay at skwela... sa liblib na lugar. yung mga doctor kasi na bumabyahe papunta sa mga liblib na lugar, kulang sa pondo, tapos naglalabas pa sila ng pera mula sa sariling bulsa just to help people dun sa mga lugar na yun. mahirap yung pakiramdam na gusto mo tumulong pero wala ka magawa. the goal is makatulong sa sitwasyon na yun.

pag d nagunaw ang mundo, ay for sure matutupad naman ang mga yan, kahit paunti unti :D
Title: Re: Newbie Guide to Forex Trading
Post by: bing.surem on Apr 25, 2013, 09:45 AM
 :hello:

Guys, can anybody help me about forex trading? Is iForex Online trading legit?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 25, 2013, 12:26 PM
check mo sa forexpeacearmy for reviews.
check mo rin sa regulators gaya ng NFA, CFTC, ASIC, FSA kung may bad reviews/cases.

mas maganda dun na lang kayo mag open ng account sa biggest o well-known brokers.
Title: Re: Newbie Guide to Forex Trading
Post by: aries2008 on Apr 26, 2013, 02:23 PM
....hello mga guru, we're planning to open live account but from previous post Can anyone her please suggest the biggest or well known brokers, please?
thanks in advance for that we should open account sa biggest/well known brokers, maybe with ECN type...sobra kasi dami ng brokers eh baka biglang maglaho all of sudden,napakahirap pa naman magrequest na isauli yung investment with them, so better choose the well known brokers,isn't it?
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Apr 26, 2013, 02:43 PM
d ako guru Sir, pero subukan mo i-try oanda, fxcm, pepperstone - brokers na gamit ng traders dito. interactive brokers ok din.
bawat broker may + and - kaya, subukan mo muna small live account or demo account muna.

pag ready to go live, mag umpisa muna sa $100-$500. wag muna maglagay ng malakihang pera.
Be sure to check with NFA, etc. para informed ka rin Sir.

Good luck!
Title: Re: Newbie Guide to Forex Trading
Post by: cebuphilippineshouse on Apr 29, 2013, 02:01 PM
Hello, I'm so NEW to this. just starting to read about forex. I've opened a training account with etoro and fxcm. What should i do first? Which broker would you recommend? I'm planning to start small and eventually increase my investment once I get enough knowledge.  :help:
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on May 01, 2013, 09:02 AM
i'd recommend you start demo trading using higher timeframe analysis. do away with day trading tf or lower tf, that would be H1 or less. also, avoid overloading your demo with indicators and focus more on raw price data.

also, make sure you understand margin and leverage before you even go live.
Title: Re: Newbie Guide to Forex Trading
Post by: cebuphilippineshouse on May 02, 2013, 08:10 PM
thanks batangpromdi_v2. will make sure i'll understand what you are talking about.  :hihi:  :thankyou: i will carry your advice with me all throughout my learning period.
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on May 03, 2013, 09:22 PM
(http://i39.tinypic.com/124zck0.png)
1:50 / 0.5
+879 pips live
i closed all positions kasi parang natatakot ako na magnegative pa :hihi:, hindi pa ko kasi ako ganung ka confident na mare-reach nya yung tp ko and friday ngayun, mahirap nang mag-iwan ng open positions.  :hihi:

i have one question, anu po yung swap?!
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on May 21, 2013, 05:09 PM
ang swap ay interest para position na namalagi para sa araw na yun, kapag mas mataas ang interest rate sa binili kesa binenta magkakaroon k ng positive swap, negative swap nman kakapag buimili k sa masmababa na interest rate, halimbawa EURUSD ang eur ay .50% ang interest rate nila at sa usd ay .25% kapag may long position ka edi magkakaron k ng positive at negative swap pag short pero depende pa rin sa forex specification ng broker gaya na lang sa hotforex negative swap either long or short sa eurusd.

kaya nakakatuwa rin sa forex may position ka nga may interest pa at kung iyong mapupuna sa AUD mataas ang interest rate nila kaya pwede rin i take advantage yun lalo na sa mga swing trader pero syempre mag aadjust sa risk management ng konteng konti
Title: Re: Newbie Guide to Forex Trading
Post by: jensky08 on Jun 17, 2013, 10:23 AM
Hello po.. newbie din sa forex trading at nag-open ako demo account sa FXDD.. Meron bang nagtry na mag-open live account FXDD dito? May alam b kayong local IB nila?

Thanks po..
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Jun 17, 2013, 12:47 PM
Thank you ect1! now i understand, ang hirap kasi minsan intindihin sa books lalo na pag english (nose-bleed) :hihi:

one more question po mga filipino forex gurus here...

Can you consider the tip of a spike as a peak?! (im trying the convergence divergence strategy po kasi..)

thanks in advance. happy trading everyone!

thanks in advance
Title: Re: Newbie Guide to Forex Trading
Post by: divergence on Jun 17, 2013, 02:27 PM
Thank you ect1! now i understand, ang hirap kasi minsan intindihin sa books lalo na pag english (nose-bleed) :hihi:

one more question po mga filipino forex gurus here...

Can you consider the tip of a spike as a peak?! (im trying the convergence divergence strategy po kasi..)

thanks in advance. happy trading everyone!

thanks in advance

hi freeman12

i always look for divergence when ever i look at my charts. ang sabi sa tamang paggamit daw ng divergence ay kunin ang closing price at hindi yung highest or lowest. i use stochastic as my indicator.

hope this can help
Title: Re: Newbie Guide to Forex Trading
Post by: freeman12 on Jun 17, 2013, 04:41 PM
thanks ng marami sir divergence! nasanay kasi ako sa candlesticks, dapat pala line charts. :hihi: my bad.
Title: Re: Newbie Guide to Forex Trading
Post by: divergence on Jun 17, 2013, 08:30 PM
thanks ng marami sir divergence! nasanay kasi ako sa candlesticks, dapat pala line charts. :hihi: my bad.

candlesticks din gamit ko na chart, pero pag set ko na yung starting line at end line ay kinukuha ko muna yung closing price.
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Jun 22, 2013, 10:49 AM
sa mga baguhan pa, do not expect to know your trading style while you are just starting, lalo na kaka-open lang ng live account. transitioning from demo to live is not simple, kasi dyan ma-introduce ang whole new sets of emotions.

dadaan ka sa phases. at start, gumagamit ka lower tf, pero pag live na, nag-iba ka naman, maybe kasi may drawdown ka. then susubok ka higher tf, pero feel mo nakakatamad, then babalik ka sa lower tf, maghahanap ka ng mga bagong indicators, maghahalukay sa mga forum, etc. you can stay at this phase for a year, before you even realized what you really want to do or even, define your edge in the market.

but.. the main rule is, for newbies and veterans, money management is the key. since hindi mo pa rin naman malalaman anung style ka comfortable, even pa nag-demo ka ng 5 years, pagdating ng live, pwede magbago yan ng isang oras lang. kaya better master money management. this way, bahala ka maghalungkat ng system, try trading plan, etc, while maintaining your account. forex is about longevity, the longer you survive, the more chances you will define your edge and succeed.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 22, 2013, 02:51 PM
Thank you ect1! now i understand, ang hirap kasi minsan intindihin sa books lalo na pag english (nose-bleed) :hihi:

Can you consider the tip of a spike as a peak?
pwede naman.
pwede rin yung sabi ni Sir divergence, gagamitin mo closing price.
subukan mo alin ang mas ok sa iyo.

trading is an art, kahit ano pwede. ;)

Hello po.. newbie din sa forex trading at nag-open ako demo account sa FXDD.. Meron bang nagtry na mag-open live account FXDD dito? May alam b kayong local IB nila?

Thanks po..
mas ok, mag open ka direkta dun sa broker mismo.
check mo rin fxdd, may kaso yata dati yan. just FYI.
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Jun 24, 2013, 06:09 AM
pwede ba mag-share ng torrent resource dito? may nakita kasi akong training dvd, okey yun for newbies. dagdag sa arsenal na rin ng mga experts na.
Title: Re: Newbie Guide to Forex Trading
Post by: bloomerman on Jul 01, 2013, 04:48 PM
@batangpromdi_v2: I think there's nothing wrong with that. The intention is good.
Title: Re: Newbie Guide to Forex Trading
Post by: totscalilari on Jul 16, 2013, 08:40 PM
newbie question. sa pinas, manila time, anong oras nagstart and end ang daily chart?  I'm assuming tokyo session start and new york session end? thanks
Title: Re: Newbie Guide to Forex Trading
Post by: deecee.diego on Jul 16, 2013, 09:24 PM
newbie question. sa pinas, manila time, anong oras nagstart and end ang daily chart?  I'm assuming tokyo session start and new york session end? thanks

I use this site to check kung anong market ang open sa timezone natin. http://forex.timezoneconverter.com/?timezone=Asia/Manila; (http://forex.timezoneconverter.com/?timezone=Asia/Manila;)
Title: Re: Newbie Guide to Forex Trading
Post by: jakebull on Jul 28, 2013, 01:02 PM
Good Day po sa lahat ng member ng PMT!
may question lang po ako, mejo related din sa forex trading. balak ko rin kc mag invest eh. pero may idea ba kayo regarding BINARY OPTIONS? i just want to know kung legit sya. limited lang kc ang capital ko & ayoko naman ma-scam on my first investment. advise nyo ba na mag forex trading na lang kesa binary options?
maraming salamat po. naghahanap lang ng pagkakakitaan, sana matulungan nyo ko. please enlighten me.
 :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: divergence on Jul 28, 2013, 01:06 PM
read this about binary options

http://www.forbes.com/sites/investor/2010/07/27/dont-gamble-on-binary-options/
Title: Re: Newbie Guide to Forex Trading
Post by: divergence on Jul 28, 2013, 01:08 PM
if you got limited capital, try mo ang micro account ng mga brokers.
Title: Re: Newbie Guide to Forex Trading
Post by: tankbeta on Jul 29, 2013, 02:51 PM
Good Day po sa lahat ng member ng PMT!
may question lang po ako, mejo related din sa forex trading. balak ko rin kc mag invest eh. pero may idea ba kayo regarding BINARY OPTIONS? i just want to know kung legit sya. limited lang kc ang capital ko & ayoko naman ma-scam on my first investment. advise nyo ba na mag forex trading na lang kesa binary options?
maraming salamat po. naghahanap lang ng pagkakakitaan, sana matulungan nyo ko. please enlighten me.
 :thankyou:

kung mag binary options po kayo i suggest mag poker nalang kayo at least medyo control ang risk. kesa masayang ang pera. tried it once with a free $100 bonus and natalo lang din
Title: Re: Newbie Guide to Forex Trading
Post by: tripler on Jul 30, 2013, 10:37 PM
bakit kaya wlang trading system dito ng forex??..  ano rules kung magdadala ka ng isang system dito na galing sa ibang site?? magkaroon lang ng mapapagusapan..
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Jul 31, 2013, 07:12 AM
pwede naman yan na mag-present ng trading system, but it will be more appropriate sa active trading discussion section or maybe sa technical analysis section
Title: Re: Newbie Guide to Forex Trading
Post by: jakebull on Jul 31, 2013, 06:03 PM
Sa mga sumagot po ng questions ko THANK YOU! :thankyou:
Sige na nga pag aralan ko na lang ang forex trading. mejo may alam nko sa chart eh kase nga nag self-study ako para sana sa binary options. :D so ngayon magpo-focus na lang ako sa forex trading. haay another 2 months nanaman atang self-study ito.
ano po bang forex broker ang pede nyo suggest for a beginner with a small capital? thank you ulit!  :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jul 31, 2013, 08:26 PM
Sir jake,

sobrang ikli ang 2 months.

magcommit ka ng seryosong panahon para sa seryosong negosyo. commit at least 2-5 full years.

pwede ka magumpisa with Oanda. umpisa muna ng maliit $10-$100, tapos trade conservatively PLUS gamit ng mababang leverage para mahaba ang buhay ng account.

Good luck Sir!
Title: Re: Newbie Guide to Forex Trading
Post by: MercWithaMouth on Aug 01, 2013, 12:23 AM
Hi, ano po magandang system for newbies? Kumukuha ako sa forex factory pero nose bleed pa rin ako sa mga terms. Yung kay james 16 medyo may linaw naman pero nafafake pa rin ako ng pin bar. :D Mostly mga simple system lang binabasa ko. Demo account pa lang ako sa Oanda.
Title: Re: Newbie Guide to Forex Trading
Post by: batangpromdi_v2 on Aug 01, 2013, 05:54 AM
simple system: support and resistance
Title: Re: Newbie Guide to Forex Trading
Post by: jakebull on Aug 01, 2013, 07:23 AM
Sir jake,

sobrang ikli ang 2 months.

magcommit ka ng seryosong panahon para sa seryosong negosyo. commit at least 2-5 full years.

pwede ka magumpisa with Oanda. umpisa muna ng maliit $10-$100, tapos trade conservatively PLUS gamit ng mababang leverage para mahaba ang buhay ng account.

Good luck Sir!


Sir FerrariEverest,
what i mean for 2 months is yung pag-aaral lang ng basic forex trading. salamat sa advise ha. talagang gusto ko mag-forex trading eh.. Oo nga dati nakita ko at nacheck ko na ang Oanda, maganda sya pero syempre kelangan sa mga kapwa ko pilipino muna mismo manggagaling ang referral, mahirap kase kung puro imported ang kausap eh. buti na lang talaga may PMT, mas palagay ang loob ko. salamat sir ha. actually marami pko questions pero syempre self-study na lang muna para hindi masyado abala sa mga members ng PMT. hehehe..
More Power po sa atin lahat! :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Aug 01, 2013, 09:09 PM
Hi, ano po magandang system for newbies? Kumukuha ako sa forex factory pero nose bleed pa rin ako sa mga terms. Yung kay james 16 medyo may linaw naman pero nafafake pa rin ako ng pin bar. :D Mostly mga simple system lang binabasa ko. Demo account pa lang ako sa Oanda.
more than adequate na yang kay James16.
not all pinbars work/work as expected. dapat focus ka sa S&R, wag sa PA setups (pin, etc.)

tuloy tuloy lang ang basa gaya ni Sir jake!
Title: Re: Newbie Guide to Forex Trading
Post by: MercWithaMouth on Aug 01, 2013, 09:50 PM
Tama ka dyan sir ferrari. Matagal na akong lurker dito at mga post mo talaga binabasa ko. :) Too much focusing ako sa pin bar at hindi sa S&R, mali pala ko.

Thank you also to batang promdi. Will focus on S&R.
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Aug 25, 2013, 10:38 PM
sa mga baguhan at lalo na sa mga dalubhasa na makalimutin at matigas ang ulo

dito mag simula mag-laan ng tatlong buwan

http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0 (http://www.pinoymoneytalk.com/forum/index.php?topic=35592.0)
Title: Re: Newbie Guide to Forex Trading
Post by: ect1 on Aug 28, 2013, 05:45 PM
^ part n ng pag foforex ang matigas ang ulo hahahaha

may tanong lng pla ako pano p b kumukita yung mga broker bukod sa spread.. tinetrade din b yung pera ng clients nila?

tsaka saan b laging may free seminar?
Title: Re: Newbie Guide to Forex Trading
Post by: ko_miks on Aug 29, 2013, 07:55 AM
For positions held overnight an interest rate differential is charged for that position.  Due to regulations, most brokers do not trade on client monies. 
Title: Re: Newbie Guide to Forex Trading
Post by: DavidApol on Sep 09, 2013, 09:35 AM
^ part n ng pag foforex ang matigas ang ulo hahahaha

may tanong lng pla ako pano p b kumukita yung mga broker bukod sa spread.. tinetrade din b yung pera ng clients nila?

tsaka saan b laging may free seminar?
It depends on the broker, pero minsan commissions din. But the bulk of their income normally comes from the spread :)
Title: Re: Newbie Guide to Forex Trading
Post by: crazywolf on Sep 10, 2013, 01:02 AM
Best place to learn about Forex and trading and investing in general is in my opinion www.investopedia.com. Other good sites about forex are babypips.com and forexpeacearmy.com
Title: Re: Newbie Guide to Forex Trading
Post by: mateo.rodriguez.12345678 on Oct 13, 2013, 10:37 AM
Hi! I am thinking of joining forex. trading. A friend suggested global online broker GDMFX. He said it has a state of the art trading server, tightest spreads in the market, low minimum account opening and  attractive bonuses and high leverage. Is anyone here trading with them?
Title: Re: Newbie Guide to Forex Trading
Post by: mactrading on Oct 22, 2013, 10:50 PM

sa mga gustong mag forex isa lang po maipapayo ko matinding Discipline!!! if you cannot control your emotions and hindi mo matanggap ang pagkatalo i guess you will have a very hard time earning in forex!!! but the good part is if ma overcome mo lahat and stick to your plan or your system kung ano man ginagamit mo, i am very sure you will be rewarded naman ng sobra!!!! :D

Demo trade muna if you can double your fund in 3 straight months then open ka ng minimum or money you can afford to lose

so go go go and learn and conquer the world of currencies :welcome:  :boxing: :yoohoo: :harhar: :hello:
Title: Re: Newbie Guide to Forex Trading
Post by: michellesankey on Mar 27, 2014, 11:08 PM
:welcome:

To all those newbie forex trader's out there!

Let's use this thread to discuss trading and help each other to become better traders in the future. Much like a trading group.

Just like everything else, there's always a beginning.

Where do we begin?

I'm thrilled to have found this thread..Good topic!
Title: Re: Newbie Guide to Forex Trading
Post by: michellesankey on Mar 27, 2014, 11:09 PM
Hello everyone! There will be free forex trading seminar in the SM Mall of Asia this coming March 29, 2014. All interested traders are invited. For more info click this link: http://clicks.pipaffiliates.com/afs/come.php?id=3347&cid=10662&ctgid=16&atype=1

I'm joining in..:)
Title: Re: Newbie Guide to Forex Trading
Post by: binsyo on Mar 31, 2014, 10:50 PM
Hi there fellow Newbies :hello: :hello: :hello:

I don't know if this is already mentioned here but I just want to share something which I think is useful for us (well, it's useful for me).
>>  https://www.youtube.com/channel/UCe3O5ZLxQzGz4-nfl6XLEHQ  <<
His name is Jason Stapleton. He makes trade forecast discussions and training videos on his youtube channel.

I'm learning a lot from his trades and discussions so please do check baka makatulong din sa inyo. :cool2: :cool2:

PS: I'm only subscribed to his youtube channel. I'm not registered into any of his paid programs and I'm not suggesting any of his products/services. Just enjoy his free youtube videos, kayo na bahala kung gusto niyo pa magregister sa paid programs niya. :hihi: :hihi:

Title: Re: Newbie Guide to Forex Trading
Post by: miakim287 on Jun 30, 2014, 12:03 AM
im newbie im interested in forex tranding how to start po ba? prang stock din po ba to?  :thankyou: :help:
Title: Re: Newbie Guide to Forex Trading
Post by: olrac183 on Jul 08, 2014, 04:29 PM
for those who are well experienced na into fx trading, possible na ang 2-3% or more daily profit ? or are you able to do this now?
Title: Re: Newbie Guide to Forex Trading
Post by: roel18 on Jul 10, 2014, 07:43 PM
ano po ba magandang forex broker? and affordable lang to start.
Title: Re: Newbie Guide to Forex Trading
Post by: ZiggFX on Aug 12, 2014, 06:38 PM
@roel i just started forex trading, I'm using FX Primus since their minimum is $100 to start... they also have demo accounts so that you can see if your trades are doing good... I hope this helps
Title: Re: Newbie Guide to Forex Trading
Post by: dicktator on Aug 20, 2014, 07:15 AM
@roel i just started forex trading, I'm using FX Primus since their minimum is $100 to start... they also have demo accounts so that you can see if your trades are doing good... I hope this helps

oanda pwede raw $1. in my experience, antagal ng application, yung support nila it takes at least 8 hours para magreply sa e-mail.
Title: Re: Newbie Guide to Forex Trading
Post by: Dogberto on Sep 22, 2014, 04:02 PM
Ang ayoko lang sa FX Primus is they charge a $25 fee for bank transfer withdrawals.
Title: Re: Newbie Guide to Forex Trading
Post by: Dogberto on Sep 24, 2014, 11:05 AM
Learn How to Master the Art of Disciplined Trading
https://www.youtube.com/watch?v=vykBbcjbyU8 (https://www.youtube.com/watch?v=vykBbcjbyU8)
Title: Re: Newbie Guide to Forex Trading
Post by: Dave on Oct 22, 2014, 02:53 PM
Guys ok po ba ang broker na IRONFX? wala pla talaga akong idea pero gusto ko tlga matutunan magtrade.. meron akong free seminar mamaya kaso medyo napapaisip ako baka scam naman ang mapasukan ko.. kung alam nyo naman kung ok o hindi IRONFX.. please let me know.. thank you in advance..=)
Title: Re: Newbie Guide to Forex Trading
Post by: myfxlife on Oct 23, 2014, 09:50 PM
just make sure the broker is licensed and regulated by a governing agency with authority para makaiwas sa scam.
 :hello:
Title: Re: Newbie Guide to Forex Trading
Post by: forsaFX on Oct 25, 2014, 06:39 PM
I hope I can have a some basic knowledge by taking part in this forum. I think this is the main goal of the forum, educating members especially newbie to forex trading.
Title: Re: Newbie Guide to Forex Trading
Post by: Presto88888 on Jan 11, 2015, 09:26 AM
Update:

anyone here taken mark so forex course

share naman or pm me

thanks
Title: Re: Newbie Guide to Forex Trading
Post by: ForexGuy on Jan 15, 2015, 04:43 PM
Hi My name is Jayce and I just signed up on this forum. I want to learn Forex Trading.
Title: Re: Newbie Guide to Forex Trading
Post by: okpinoy on Jan 16, 2015, 11:01 PM
here are a list of forex brokers my friends are using for years already, all of them are doing good for them according to them
1) ironfx
2) fbs
3) oanda
4) metis
5) ic market
6) fxcm

google the websites and take your pick,

i hope this helps :)
Title: Re: Newbie Guide to Forex Trading
Post by: okpinoy on Jan 16, 2015, 11:02 PM
for beginners try this website http://www.babypips.com/school  :)
Title: Re: Newbie Guide to Forex Trading
Post by: lana on Feb 04, 2015, 05:47 PM
Hi. gusto ko na sanang mag open ng forex account. anu ba dapat ang leverage kung 250 dollars lang ang kaya kong i invest? :help:
Title: Re: Newbie Guide to Forex Trading
Post by: sampatrick22 on Feb 14, 2015, 09:50 PM
Hi. gusto ko na sanang mag open ng forex account. anu ba dapat ang leverage kung 250 dollars lang ang kaya kong i invest? :help:

hi  :D
bka 50:1 ung leverage na hinahanap mo? ung saken sa oanda 50$ lng ang dineposit ko to start livetrade tpos 50:1 gmit ko tpos kpag ng trade 0.01 at nag +10pips ang profit nun eh 1$ hehe

anyway naggawa ako ng account para mag thankyou sa mga commentators ng thread na to haha

ang dami kong natutunan kakabasa ng sagutan ng mga masters, just want to say thanks sa lahat po :) and thanks to sir ferrariforever  :thankyou: sa pagshare ng experience sa forex :applause:

sana magpatuloy pdin tong thread  :boxing:

ung mga magllivetrade at naghahanap ng brokers mganda din icheck kung naapektuhan ung broker na gusto nyo after magkamehamewave ung CHF pair nitong jan2015

thanks po ulit mga masters :rakenrol:
Title: Re: Newbie Guide to Forex Trading
Post by: cricky on Mar 01, 2015, 12:55 AM
Meron lang po akong curious question!

1st. If lets say I made a profit from forex and goes to my bank account do I have to pay the 10% tax?
2nd. What if kung ang profit mo ay p200k above, will bir check your account status?

Hindi ko gusto po yung money-laundering business pero mas gusto ko clear kung ano pra hindi ako magthink in the future.

Dahil mai time nga ang banko mag-ask kung saan galing ang pera, and I always say that I sent it to my other foreign bank account w/c was my savings account for my "freelance work" ;D

3rd. Is yung profit or loss, if profit then great, but what if you put money and it goes down, does that mean my net has lost or is there more to it like I might owe something because i didn't sell it early? Please enlighten me
Title: Re: Newbie Guide to Forex Trading
Post by: Hampaslupa on Jun 19, 2015, 11:52 AM
Hi guys,
newbie here.

Have you ever reached a point in your trading life that your making money faster than your day job?
Can anyone share their experiences going full time?. Am I the only one who feel like my day job interferes with my trading opportunities? (of course there's  RISK)

I love my job but I really feel that it eats my time and energy.

Happy trading guys. May the market bless us all.
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Jun 20, 2015, 02:04 PM
Hi guys,
newbie here.

Have you ever reached a point in your trading life that your making money faster than your day job?
Can anyone share their experiences going full time?. Am I the only one who feel like my day job interferes with my trading opportunities? (of course there's  RISK)

I love my job but I really feel that it eats my time and energy.

Happy trading guys. May the market bless us all.
Sir naintindihan kita. Pwede ka naman magtrade habang nagtatrabaho. Gawan mo na lang ng diskarte yung oras sa pagtrade. Pwede rin pag aralan mo gumawa ng indicator na pwede makatulong sa iyo.

Kung may malaking ipon ka na, and you are trading well, then wala ng makakapigil sa iyo to try going full time. Dapat lang may backup plans ka.

Dati obsessed din ako na mag full time trading habang buhay. Personally, i tried trading full-time pero I realized mas ok ang hindi fullt-ime kasi nabawasan ang overtrading ko. I also realized na marami ako na-miss na opportunities outside trading nung time na yun.  Mas relaxed na ang trading ko ngayon. I use indicators that I have created or modified and pati yung mga nakita ko sa internet to help simplify my trading. I'm still trying to create a few more.

Pag hindi ka full time, mas may oras ka sa ibang bagay pati hobbies mo, gaya ko.

Mahal mo ang trabaho mo, so you have to strike a balance between your job and trading. Good luck Sir H!
Title: Re: Newbie Guide to Forex Trading
Post by: Hampaslupa on Jun 20, 2015, 03:09 PM
Salamat Mr. Ferrari sa advice.

I'm missing too much of the good opportunities. My strategy works well during London open in which I'm at work.
I plan to go full time once I stashed enough cash to get me going for 6 months. If I get good results, good. If I'm not making much, then I go back to work.

I don't trade much in a day. I'm very selective in my entry and very successful in getting in. My weakness is the exit. Many times "pera na naging bato pa" hhahaha. My brain tells me to exit following the trading plan but my index finger seems not to pay attention.





Title: Re: Newbie Guide to Forex Trading
Post by: chardbiz on Aug 08, 2015, 11:01 PM
Hello po! newbie here with newbie question. Anu po best na platform using mac OS? Thanks po sa lahat ng info in this forum. Still a long way ahead.  =)
Title: Re: Newbie Guide to Forex Trading
Post by: magforex on Aug 14, 2015, 06:27 PM
My newbie guide para sa mga gustong mag umpisa sa forex trading:

 1 - know that forex trading caries a lot of risk. pede maubos ang puhunan mo sa isang iglap lang pag hindi mo alam ang ginagawa mo.

2 - study the psychology of the market. read books, watch videos, subscribe to forums and blogs/newsletters about forex trading para alam mo ang nagaganap sa mundo ng forex trading.

3 - start a demo account. almost lahat ng forex brokers nag oofer ng demo account. practice in demo para magkaroon ka ng idea how the market and price action behaves.

4 -  wag ka magmadali mag live trade. ang market anjan lang yan lage. bukas 24hrs and 5 days a week ang forex market para magbigay ng opportunity.

5 - start to create your own trading system. copy first from established ones and do some adjustments to make it your own. then keep on practicing until maging comfortable kana.

6 - practice discipline and proper money management.

7 - keep on demo trading until ma feel mo sa sarili mo na handa kana talaga mag live trading.

 :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ferrariEverest on Oct 31, 2015, 07:37 PM
Hello po! newbie here with newbie question. Anu po best na platform using mac OS? Thanks po sa lahat ng info in this forum. Still a long way ahead.  =)
Karamihan ng platform na pwede sa Windows, available rin sa Mac. Kung hindi, gamit ka ng app or emulator. Pwede mo hanapin sa Google ang "(platform name) for Mac"
Title: Re: Newbie Guide to Forex Trading
Post by: pipcycler on Dec 25, 2015, 08:43 AM
Mga Sir/Mam, ano po yung issue ng income tax natin if ever na profitable or professional trader na tayo?

Nagbabayad ba kayo sa BIR or sekreto nyo lang. Hindi ba magtatanong ang bangko kung ano ang source of funds ng wire transfer galing sa broker to local bank account?
Title: Re: Newbie Guide to Forex Trading
Post by: cl010194 on Feb 19, 2016, 07:55 PM
Good day! Mga anong oras ba kayo usally naguumpisa mag trade? :)
Title: Re: Newbie Guide to Forex Trading
Post by: divergence on Feb 22, 2016, 04:50 PM
ako any time. daily charts naman kasi halos tinitingnan ko at nagseset lang ako market entry. inaantay ko na lang after ng ilang araw kung ma hit ang tp ko or sl ko. eheheh
Title: Re: Newbie Guide to Forex Trading
Post by: Somerset on Mar 08, 2016, 02:49 PM
Ano ang ginagawa ng Metis? Itago nyo na lang ako sa pangalan na Odessa. Nagwork ako sa Metis noon at ang trabaho ko ay tignan ang winning trades ng mga clients namin at i-manipulate ang currency prices. Sa madaling salita, kami ang nagdidikta kung mananalo ang clients o matatalo. Marami kaming jargons na ginagamit:
1. Scoop – i-ihihit namin ang SL ng client kahit di naman dapat mahit. eto depende kung malaki account ni client 100k above, highlighted na to automatically.
2. Lag – gagawa kami ng kunwari glitch para pag nahit si client ng loss at di nya nabantayan ang trade nya. auto loss agad sa kanya. Paano naman pag win si client? irerevert back naming sa system ang profit nya, babawiin naming ang profit nya at sasabihin glitch kasi, walang palag si client.
3. Retrace – magbibigay ng trade recommendation kami sa mga client. then imomonitor namin ang activities nila. alam namin kung saan sila nagtetrade (ip address, location, mobile o desktop, online o offline, margin call para iready ang Laser. ipapaliwanag ko susunod ang laser).  kung sino ang sumunod sa reco, retrace na yun. Dahil nakalagay ang entry price,sl,tp. nakaset na sa system namin kung kailan ihihit ang sl, most likely pag may economic data o news. Tuwing retrace, makikita namin from hundreds of thou to 30k to 20k nalang matitira. eto yung pyesta sa min kumbaga. Celebration na after, free foods and drinks.

4. Laser – ito ang software na gamit namin pag retrace. Nakaconnect ito sa database at collated lahat ng trades ng client at 100% scoop ang within parameters. Auto-loss agad sa client. Madalas na biktima nito ay ung may malalaking traded lot .05 and above. kung 1 lot ka, asa ka pang manalo.
Lahat ng makukuha sa clients mapupunta sa accounts nila Jacob Park, Yun Ho Ree, at Temie Lanaria mga VP ng company.  Tapos idedeposit papunta sa Maybank naman para kay CEO Justin Jung na umalis na ng pinas at ngayon ay nasa Korea.
Commission-based kami. Kaya mas maraming minomonitor mas malaki kikitain namin. Matyaga kami magpaconduct ng seminar dahil mas okay pag new accounts kasi most of them wala pang alam. Madaling bolahin.
Umalis ako dahil sa utos na rin ng SEC na itigil ang operation at tagged as Scam ang company. Pero ngayon flybynight nag-ooperate parin ang metis. Dahil most clients ay nagwiwithdraw na, pati mga banko sinarado deposit accounts nila(metrobank,bpi,bdo). maybank nalang ang natitirang option para makapagdeposit ka. talagang ginawan pa ng metis ng paraan. haha, 10% tax deduction + 50pesos pag nagwithdraw ka. Di ko kayo pinipilit na paniwalaan ako, subukan nyong magdeposit, always welcome kayo sa metis.
Title: Re: Newbie Guide to Forex Trading
Post by: BatangHamog on Mar 08, 2016, 05:26 PM
Ano ang ginagawa ng Metis? Itago nyo na lang ako sa pangalan na Odessa. Nagwork ako sa Metis noon at ang trabaho ko ay tignan ang winning trades ng mga clients namin at i-manipulate ang currency prices. Sa madaling salita, kami ang nagdidikta kung mananalo ang clients o matatalo. Marami kaming jargons na ginagamit:
1. Scoop – i-ihihit namin ang SL ng client kahit di naman dapat mahit. eto depende kung malaki account ni client 100k above, highlighted na to automatically.
2. Lag – gagawa kami ng kunwari glitch para pag nahit si client ng loss at di nya nabantayan ang trade nya. auto loss agad sa kanya. Paano naman pag win si client? irerevert back naming sa system ang profit nya, babawiin naming ang profit nya at sasabihin glitch kasi, walang palag si client.
3. Retrace – magbibigay ng trade recommendation kami sa mga client. then imomonitor namin ang activities nila. alam namin kung saan sila nagtetrade (ip address, location, mobile o desktop, online o offline, margin call para iready ang Laser. ipapaliwanag ko susunod ang laser).  kung sino ang sumunod sa reco, retrace na yun. Dahil nakalagay ang entry price,sl,tp. nakaset na sa system namin kung kailan ihihit ang sl, most likely pag may economic data o news. Tuwing retrace, makikita namin from hundreds of thou to 30k to 20k nalang matitira. eto yung pyesta sa min kumbaga. Celebration na after, free foods and drinks.

4. Laser – ito ang software na gamit namin pag retrace. Nakaconnect ito sa database at collated lahat ng trades ng client at 100% scoop ang within parameters. Auto-loss agad sa client. Madalas na biktima nito ay ung may malalaking traded lot .05 and above. kung 1 lot ka, asa ka pang manalo.
Lahat ng makukuha sa clients mapupunta sa accounts nila Jacob Park, Yun Ho Ree, at Temie Lanaria mga VP ng company.  Tapos idedeposit papunta sa Maybank naman para kay CEO Justin Jung na umalis na ng pinas at ngayon ay nasa Korea.
Commission-based kami. Kaya mas maraming minomonitor mas malaki kikitain namin. Matyaga kami magpaconduct ng seminar dahil mas okay pag new accounts kasi most of them wala pang alam. Madaling bolahin.
Umalis ako dahil sa utos na rin ng SEC na itigil ang operation at tagged as Scam ang company. Pero ngayon flybynight nag-ooperate parin ang metis. Dahil most clients ay nagwiwithdraw na, pati mga banko sinarado deposit accounts nila(metrobank,bpi,bdo). maybank nalang ang natitirang option para makapagdeposit ka. talagang ginawan pa ng metis ng paraan. haha, 10% tax deduction + 50pesos pag nagwithdraw ka. Di ko kayo pinipilit na paniwalaan ako, subukan nyong magdeposit, always welcome kayo sa metis.


That means metis broker is practicing being a market maker. alam nah  :hihi:

Salamat sa iyong post at magiging warning heads up eto pra sa lahat ng aspiring want to be live trader.  :applause:
Title: Re: Newbie Guide to Forex Trading
Post by: polunio on Jun 25, 2016, 11:07 PM
Question lng po.. Meron b ditong gamit na broker is instaforex? any experience on this broker..
Title: Re: Newbie Guide to Forex Trading
Post by: blockchain76 on Aug 08, 2016, 09:08 AM
my broker is tradersway and i use bitcoin for deposits and withdrawals

also check my youtube channel dedicated for forex traders, i mostly do price action trading

https://www.youtube.com/channel/UCzQZ-sYnhA4lxRUZC9Mv1xQ
Title: Re: Newbie Guide to Forex Trading
Post by: dugie on Oct 13, 2016, 04:32 PM
hello po mga ka forex, tanong ko lang po kung puede pa gamitin yong eon card sa unionbank para mag fund sa oanda broker?kung puede papaano po? ty sa mga sasagot.....
Title: Re: Newbie Guide to Forex Trading
Post by: chicalicdan on Nov 08, 2016, 03:42 PM
Hi friends,

Can I just share the broker I am using trade in forex market? I use Alpari :)

http://alpari.com/?partner_id=1233172
Title: Re: Newbie Guide to Forex Trading
Post by: iloveforex on Nov 22, 2016, 01:24 PM
Hello guys, I am self-taught trader for 16 years and all those times trading isn't always favorable.  It takes a lot of patience and a good mentor to start with.

So the question is how to get started with Forex? Answer are as follows:
-Choose a broker: there are many brokers around but it's important to choose the right one
-Open a demo account: remember your capital is at risk is forex so you must start with a demo account
-Learn to take risk seriously: i teach forex and risk management; i tell you it's always better said than done so at the training I always fix the emotions of my forex students so as not to get carried with the market movement
-Lean about leverage: coz you don't exactly risk all that you have but given the right leverage you will be able to manage your market exposure
-Practice reading charts: be with the right people who can help and guide you as you learn forex.  Charting is a very interesting thing but only when you understand the basics you will appreciate how chart works
-Make your first live trade: when you are ready, make your trade plan and fund our first live trade

Those are the basic steps you need to get started.  If you are interested to know more feel free to ask me. Happy trading day!
Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 25, 2016, 10:22 PM
Anybody here who knows greg secker and his learn to trade? They are tied up with the broker capital index. Does it ring a bell? Legit kaya sila?
Title: Re: Newbie Guide to Forex Trading
Post by: iloveforex on Nov 25, 2016, 10:36 PM
Greg Secker owned both according to my business intel.
Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 26, 2016, 10:32 AM
hi, i loveforex! thanks for the reply! i attended the seminar held at the manila hotel last nov 23 and they were offering a 2 day course about how to do forex and a bonus 1 day live trading while being coached by the "top traders" using their software called smartcharts. the total cost for the enrollment was 80k pesos. then you have to pay a maintenance fee of 89usd a month to use the smartcharts because it's supposed to automate your trading and it will do all the hard work for you so you will win most of the time and cut your losses to a minimum. do you think this really is worth that much? anybody here who can vouch for their legitimacy? and does it really work?
Title: Re: Newbie Guide to Forex Trading
Post by: wilch23 on Nov 26, 2016, 07:10 PM
ay, mahal pala!
Title: Re: Newbie Guide to Forex Trading
Post by: iloveforex on Nov 27, 2016, 10:49 AM
hello NTC, forex investment has no winning guarantee but if you will learn it you will soon know how to calculate your risks. I have evaluated many robots and all of them doesn't always make me win.  Lean to Trade is capitalizing with the fact that Filipinos are eager to do anything to make money. That 80k is already worth more than an investment to start with. Remember the 80k is not yet part of the fund that you have to put in to start trading. So it isn't wise.

i have met some of the people from a Cebu based company who teaches forex for free out of passion. they are forming a support group so you may want to tap with them. all they do is study study and study and they really help each other. Forex Cebu is the trade name of the company and you can check them at forexcebu dot com. since I travel a lot I welcome the thought of meeting them someday. i've heard they got new friends who also attended the recent learn to trade seminar in cebu, these guys were kind of disappointed with the result, so far they're happy dealing with forexcebu. let me know if you are able to talk to anyone of them.

regards
Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 27, 2016, 01:06 PM
hi iloveforex, how long have you been trading forex if i may ask? how many and how were you able to evaluate the robots? i assume those are the softwares right? how much did you spend to test those robots? You said they dont always make you win but isnt that expected? i mean you cant win 100% of the time but as long as your wins outnumber the losses, and you are profitable, i guess it should be a good thing right? have you tried using the smartcharts? or maybe i should ask what software have you used and made good returns for you?
Title: Re: Newbie Guide to Forex Trading
Post by: iloveforex on Nov 27, 2016, 01:15 PM
Been trading for more than 16 years already NTC and i'm now sticking to my own analysis via Metatrader4 and Tradingview as they both have useful tools.

Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 27, 2016, 01:21 PM
ay, mahal pala!

hi, wilch23, why do you say mahal? how much are you willing to spend for this kind of offer?
Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 27, 2016, 01:41 PM
Been trading for more than 16 years already NTC and i'm now sticking to my own analysis via Metatrader4 and Tradingview as they both have useful tools.

i see. how did you get started? how long before you actually became a profitable trader? do you really have to experience losses and commit mistakes to be a profitable trader? because with this "learn to trade", they are like "cutting short the learning curve" so you wont have to spend so much time making trial and error on demo accounts and just go directly on making money.

that's what i understood from the 2 hour seminar but when i checked out the take home usb which contains the modules, i felt that 3 days of training will not be enough to be able to understand forex and i am just lost right now because quite honestly, i dont know if 1-2 hours a day of studying and trading will be enough to make you a profitable trader or will it?
Title: Re: Newbie Guide to Forex Trading
Post by: iloveforex on Nov 27, 2016, 01:52 PM
Started profitable back in 2002 market was pretty predictable si when reversal came I had my share or loss too. It was only 8 years after that I decided to really sit down and study.

Once you have the forex basics it's easier to learn everything, you don't need to loose actually. You just have to be very careful and back yourself with a trade plan all the time.

I'm actually jobless but i'm a full time trader. Makes life exciting.
Title: Re: Newbie Guide to Forex Trading
Post by: ntc on Nov 27, 2016, 02:29 PM
Started profitable back in 2002 market was pretty predictable si when reversal came I had my share or loss too. It was only 8 years after that I decided to really sit down and study.

Once you have the forex basics it's easier to learn everything, you don't need to loose actually. You just have to be very careful and back yourself with a trade plan all the time.

I'm actually jobless but i'm a full time trader. Makes life exciting.


ok so from your 1st-8th year, how were you trading? how much in monthly percentage were you making and how? just by yourself applying the basic knowledge? or you bought softwares to do the thinking for you? then on your 9th year up to now, have you been more profitable? how much growth did you make in your portfolio when you started to sit down and study?

how long do you think is a decent timeframe to learn the basics of forex for someone who has zero knowledge but is intelligent enough to understand basic concepts? like a fresh college graduate for example?

could you please define full time? how many hours/day and days/week do you trade and how many hours do you need to come up with a trade plan? do you do the trade plan daily? weekly? monthly? annually?

Title: Re: Newbie Guide to Forex Trading
Post by: wilch23 on May 07, 2017, 06:31 PM
Meron bang trading in SEK?
Title: Re: Newbie Guide to Forex Trading
Post by: PhilForEx on Jul 31, 2017, 03:40 PM
 Hi.. i'm new to ForEx trading, and i've already blown an account. kasi na-excite ako. ndi ako nag demo.. :(
pero, ngaun nagdedemo nku.. too late, pero, ok lang. and i'm grateful na nakita ko tong thread nato sa PMT.. real experience of real traders pump me up.. :D
im looking forward na marami po aqng mapupulot na lessons and advices sa inyo.. thanks po :D
 :thankyou:
Title: Re: Newbie Guide to Forex Trading
Post by: ethanolmos on Aug 22, 2017, 05:48 AM
Hello, everyone!
I'm new on this forum. But I bring some of an old info to share. As it has been told for a million times, you should start practicing without financial risks or your forex experience will turn in worst gambling ever. So you should start with Brokers with low spread (http://trade-leader.com/forex/category/min-spread) or zero spread to fill your hand.
Hope you'll notice this and avoid critical mistakes!
Title: Re: Newbie Guide to Forex Trading
Post by: Searching on Oct 07, 2017, 10:06 PM
Hello everyone, I am currently looking for a broker where I can learn the basics of trading. Do you have any suggestion which one is the best? Thanks a lot :-) :-)
Title: Re: Newbie Guide to Forex Trading
Post by: viper0302 on Oct 09, 2017, 07:52 PM
To learn the basic I suggest babypips.


To learn how to successfully trade, I suggest communicate with traders who has successful trading account of at least 1 year.


Ask them how they do it. If they offer it for Free your lucky. But usually successful traders ask for a payment for their successful strategy.


I do the same thing. I have rules on trading that someone can duplicate and earn from it.


PM me so we can discuss.

Title: Re: Newbie Guide to Forex Trading
Post by: wmsilva on Oct 10, 2017, 09:35 PM
hi. I'm new in forex and would like to talk to a forex group here in manila same as that of forexcebu mentioned.
Title: Re: Newbie Guide to Forex Trading
Post by: chris4stuff on Oct 14, 2017, 09:06 AM

XM will have a seminar on Oct 21 Saturday, 10am to 4pm in Dusit Hotel
If you want to attend, please register here: https://clicks.pipaffiliates.com/c?c=225013&l=en&p=7


Only 150 registrants will be allowed


To be able to claim your free real $30, you need to create a real account
https://clicks.pipaffiliates.com/c?c=225013&l=en&p=1


I will see you there
Title: Re: Newbie Guide to Forex Trading
Post by: jetpack1988 on Feb 09, 2018, 11:06 PM
 Sir mam pwd po humingi ng advice. Un friend ko po kz n ngfoforex trading hinahanapan ng permit ng bank. Nde nya po tuloy mawithdraw un money nya s bank bcoz of AMLC daw po. Anu po need n gwin?  Salamat po s advice.
Title: Re: Newbie Guide to Forex Trading
Post by: Bryan_099 on Feb 14, 2018, 04:18 PM
Hi guys!

To all Pinoy Forex enthusiasts, JustForex is having its first free Forex seminar on March 3, 2018, Saturday, 1pm-5pm, at Y2 Residence Hotel in Makati City.

Learn the basics of Forex, how to use the main indicators, and how to place buy stop and buy limit, and sell stop and sell limit.

Slots are limited only!

To register, follow this registration link: https://justforex.com/promo/forex-seminar-makati/

For questions, feel free to send me a message. Thank you!
Title: Re: Newbie Guide to Forex Trading
Post by: DCobarrubias on May 18, 2018, 09:51 PM
Hello Iloveforex,


I have been reading some of your post on this thread.W[size=78%]hat I have read is really great. Even ntc is saying that if some one can guide you and give you a good advice in forex trading, the risk can be minimize but yes it cannot be avoided. Risk is always be apart and always around the corner if you are not careful. [/size]
With your 16 years of experience in forex trading, can you be our guide,those pmt member who is dying to learn this skill?
I am serious, how can I contact you. By the way my email address: cobarrubiasda@gmail.com.  [/size]


Danilo
Title: Re: Newbie Guide to Forex Trading
Post by: Bryan_099 on May 21, 2018, 12:58 PM
Hello newbies!

Forex broker JustForex is having its next Free Forex Seminar on June 16 in Makati! The guest speaker is Mr. Jose Diaz from AXA Philippines. The seminar is perfect for beginners. Register here: https://justforex.com/promo/forex-seminar-makati-june/
Title: Re: Newbie Guide to Forex Trading
Post by: cailee2308 on Oct 18, 2018, 09:25 PM
hi, i loveforex! thanks for the reply! i attended the seminar held at the manila hotel last nov 23 and they were offering a 2 day course about how to do forex and a bonus 1 day live trading while being coached by the "top traders" using their software called smartcharts. the total cost for the enrollment was 80k pesos. then you have to pay a maintenance fee of 89usd a month to use the smartcharts because it's supposed to automate your trading and it will do all the hard work for you so you will win most of the time and cut your losses to a minimum. do you think this really is worth that much? anybody here who can vouch for their legitimacy? and does it really work?

Hello there ntc, from my honest opinion, you don't have to spend that huge money to start and learn the basic of forex trading..
You don't need any software to earn..and in fact, forex trading is already automated..you can just put your order,,place your stop and take profit target.. 89USD per month maintenance is a huge amount already if it some up..it could give you a lot of capital in hand so you can used it to gain more..

I am a self taught trader, still an employee and I trade forex part time..and you don't have to trade full time to maximize your earnings..

I can tell you..even if you win 50% most of the time you can still end up profitable..

You only need to learn how to read the price chart..apply the proper risk management together with discipline..you're all set..

Don't depend on just software..learn to trade with your own decision..Trading is a professional skills that if develop..it will give you a lifetime source of income that no one can take away from you..

Hope it helps..
Title: Re: Newbie Guide to Forex Trading
Post by: Ani76Trader on Oct 19, 2018, 03:36 AM
Sir mam pwd po humingi ng advice. Un friend ko po kz n ngfoforex trading hinahanapan ng permit ng bank. Nde nya po tuloy mawithdraw un money nya s bank bcoz of AMLC daw po. Anu po need n gwin?  Salamat po s advice.

Have you solved your issue?
I think you have to register and get a certificate from AMLC (Anti-Money Laundering Council).

BR
Title: Re: Newbie Guide to Forex Trading
Post by: Senyor on Apr 16, 2019, 01:31 PM
April 16, 12019 Tue
Kamusta na mga iDOL ..
just a recent position  on pairs..
one is SHORT TERM the other is LONG TERM
-
for LONG TERM set STOP 300 pips away
for SHORT quick SWING set 12 pips away
-
i spoke to a veteran.. an he set stops at 500pips away from the mean or entry
and he makes 1k to 2k pips on YEN or GBP pairs (wild swings)
-
on EURO pairs set stops less than 200
over time look at the BIG MOVES or TIMEFRAME and that should
reward those with WIDE STOPS...
-
tight STOPS whips your spirits and account
wide stops with impeccable SIZING keeps your morale and CAPITAL in the GAME
==
keep well and tame your greed and ecstasy
your friend
 :hello:
senyor
 
LONG TERM
(https://live.staticflickr.com/65535/33742282858_334a240f2d_b.jpg) (https://flic.kr/p/TpG28y)GBPAUD: 18311 by ROBOTO (https://flic.kr/p/TpG28y) by roy reyes (https://www.flickr.com/photos/ayos/), on Flickr
===
SHORT TERM

(https://live.staticflickr.com/65535/33742182448_e7557ca5c7_h.jpg) (https://flic.kr/p/TpFvhm)EURUSD: 1302 SHORT by ROBOTO (https://flic.kr/p/TpFvhm) by roy reyes (https://www.flickr.com/photos/ayos/), on Flickr
Title: Re: Newbie Guide to Forex Trading
Post by: yvee on Jul 21, 2019, 12:39 PM
April 16, 12019 Tue
Kamusta na mga iDOL ..
just a recent position  on pairs..
one is SHORT TERM the other is LONG TERM
-
for LONG TERM set STOP 300 pips away
for SHORT quick SWING set 12 pips away
-
i spoke to a veteran.. an he set stops at 500pips away from the mean or entry
and he makes 1k to 2k pips on YEN or GBP pairs (wild swings)
-
on EURO pairs set stops less than 200
over time look at the BIG MOVES or TIMEFRAME and that should
reward those with WIDE STOPS...
-
tight STOPS whips your spirits and account
wide stops with impeccable SIZING keeps your morale and CAPITAL in the GAME
==
keep well and tame your greed and ecstasy
your friend
 :hello:
senyor
 
LONG TERM
(https://live.staticflickr.com/65535/33742282858_334a240f2d_b.jpg) (https://flic.kr/p/TpG28y)GBPAUD: 18311 by ROBOTO (https://flic.kr/p/TpG28y) by roy reyes (https://www.flickr.com/photos/ayos/), on Flickr
===
SHORT TERM

(https://live.staticflickr.com/65535/33742182448_e7557ca5c7_h.jpg) (https://flic.kr/p/TpFvhm)EURUSD: 1302 SHORT by ROBOTO (https://flic.kr/p/TpFvhm) by roy reyes (https://www.flickr.com/photos/ayos/), on Flickr

i am interested to learn forex. as of today, nagtry ako sa fbs. however, i still want to know whats the best broker for beginners like me?
Title: Re: Newbie Guide to Forex Trading
Post by: Evangelinee on Oct 12, 2019, 04:42 AM
Can anybody help me? I am learning forex trading from the last month. I didn't find any good mentor, trying to learn some basics from online.

Forex trading for beginners (https://www.forexvolumes.com/blog/forex-trading-for-beginners)

Is this website guide is good? Which the best resource to learn?

Thank You