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totscalilari

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di ba reliable introducing brokers dito? or malaki yung cut nila? part of me is thinking of starting with someone like them when i trade with real money. Some of them have ads in this forum :)

ano ung 1st experience niyong scam sir ferrari? baka pwede pashare.. hehe


ect1

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low capital + high leverage + inexperienced trader + aggressive style + unemployed = sunog talaga ang accounts. ganyan ako dati.

PLEASE wag gagayahin

ako unemployed  :boxing: :boxing: :boxing: :boxing:

kala ko unemployed k din sir


Mighty_Tea

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Hi, im also new to Fx trading. Started in May lang. In my one month of trading experience, I realized 3 things:

Control Greed
Manage Fear
Eliminate Hope

I almost blew-up my small initial investment until I realized those 3 things. And now im picking up all the pieces  . . . s l o w l y.


ferrariEverest

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ako unemployed  :boxing: :boxing: :boxing: :boxing:
kala ko unemployed k din sir
yes sir, unemployed.
kaya nga mas nahirapan ako nung nagumpisa e. :D


neat_chic

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Eliminate Hope



hello pips :) pwede paki explain yung third must-do ni Mighty_Tea.  :thankyou:
(pasensya na pre-schooler lang :D)


ferrariEverest

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Hi, im also new to Fx trading. Started in May lang. In my one month of trading experience, I realized 3 things:
Control Greed
Manage Fear
Eliminate Hope
I almost blew-up my small initial investment until I realized those 3 things. And now im picking up all the pieces  . . . s l o w l y.
yes Sir, mahirap po magkamali sa trading, mahirap marecover yung losses. i will share a chart/stat regarding this. hanapin ko muna :D

kaya ideally talaga demo muna and gumamit ng Low Leverage + Small position size (& yung ibang nabanggit ko dun sa isang previous post)

hello pips :) pwede paki explain yung third must-do ni Mighty_Tea.  :thankyou:
(pasensya na pre-schooler lang :D)
when u rely on "hope" kasi, para kang nagrerely sa illusion/daydreaming.

when u hope in trading, it's like being a deer in the headlights: kahit alam mong mali na yung trade mo, or kahit napansin mong nagmove against u yung galaw ng price, minsan u will still 'hope' na umayon sayo or pumabor pa rin sayo eventually yung situation.
in contrast, when u trade based on knowledge/experience, u are trading based on facts, & based on what u see, as opposed to what u expect (to win in every trade).

merong kasabihang "trade (based on) what u see, not what u expect"

HOPE this helps  :D
« Last Edit: Jun 10, 2012, 07:09 PM by ferrariEverest »


Mighty_Tea

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@neat_chic
here's one example:

In a Long position: Losing trade na ako by a few $, instead na cut loss na . . . "HOPE" sets in so ride out ko pa rin ang trade "hoping" na mag reverse yung market kahit maka breakeven man lang.

Only to find out umabot na ng $100+ ang loss ko before I decided to cut it.

So I take the next trade with "HOPE."

Profit na ako by almost half of my previous loss pero dahil kay "HOPE" I continue to ride the trade "hoping" mag tutuloy tuloy pa . . . then the martket retraces back and eventually "FEAR" sets in so decided to take profit at almost break even.

hth




ferrariEverest

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ano ung 1st experience niyong scam sir ferrari? baka pwede pashare.. hehe
bucketshop trading firm sa Makati.
PFEC yung name. wala na sya ngayon or nag-iba ng pangalan. may thread yan dito.
kaya lagi ko sinasabi dito sa PMT na walang reliable FX broker sa Pinas.

may mga sumusulpot na yata ngayon na int'l brokers na nagsesetup ng branch dito sa Pinas, pero hindi (masyado) well-known kahit sa ibang int'l trading forum. (hindi ako ganun ka updated kung may bago pa).
mas maganda pa rin mag open ng account sa int'l brokers (some reliable ones have branches in areas as near as Singapore, Hongkong, Japan, Australia, NZ). madali lang naman ma-process ang account opening (+/- 3-7 days), basta kumpleto ka requirements.

For those na into Forex for a very long time, any tip?  How long have you been in to Forex?  Can this support your lifestyle?
maganda talaga may backup internet connection, kaso problema satin, sa ibang lugar limited ang choices or isa lang internet service provider. kung meron man mahal or pangit ang quality/service :hihi:

anong tip po gusto nyo?
pwede na po yung advice ko sa itaas (prior your post)
like in any business, basta committed ka at i-pursue mo, pwede talaga maging  sustenance nyo.
« Last Edit: Jun 10, 2012, 07:28 PM by ferrariEverest »


neat_chic

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HOPE this helps  :D

eliminate hope :D yes, it did :)

@ Mighty_Tea: salamat sa illustration mo :) kaya pala sobrang kailangan araling mabuti so we can apply what we learn during these kind of situations. usually kasi di maiwasan maging emotional nga sa decision-making lalo pa't hard-earned money ang involve.


ferrariEverest

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the element of loss will always be there.
losses are normal.

to avoid being emotional, dapat planado ang trade BEFORE u execute.
easy to say but difficult to implement. but as our discipline grows and mindset gets fortified, it gets easier. :D


Mighty_Tea

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kaya ideally talaga demo muna and gumamit ng Low Leverage + Small position size (& yung ibang nabanggit ko dun sa isang previous post)
Regarding demo account . . .

IMHO, kailangan maging cautious in using DEMO accounts. It should be used for the sole pupose of familiarizing oneself on how FOREX trading works as a whole.

Ex. is to familiarize yourself on the functions of the Trading Platform, how to count pips, how to enter/exit trades, place market orders, position sizing, margin calls, calculate profits/loss etc.

Wag nating gawing trading foundation ang DEMO account. Hindi porke't profitable ang DEMO account mo eh ready ka na to go "live" (pun not intended) or porke't you experienced "margin call" eh hindi ka pa ready to go "live."

A DEMO account is a different environment against a LIVE account in the sense na walang "emotions" involved when you trade DEMO.

We all know that emotions takes a big part in our decision making. All trading results in a DEMO account should be treated as irrelevant, nil and void.

Again "HOPE" builds up when we make DEMO as our foundation in trading. If our DEMO account is profitable then we will hope that it will reflect in our live account.

And if our DEMO receives a margin call, we will hope that it will not happen in our live account.

Basta alam mo na kung pano mag trade and you are dead serious about it, then by all means have a "live" account immediately . . . sayang lang panahon kung magtatagal ka pa sa DEMO account.

Sa live account mo na ibuhos lahat ng akala mong alam mo na at malalaman mong marami ka pa palang dapat maintindihan.

Then of course, dyan na pumapasok ang "Risk Management" ng isang individual. It's what separates the MEN from the BOYS.

But of course, ALL of these are easier said than done.  :watchuthink:




@ Mighty_Tea: salamat sa illustration mo :) kaya pala sobrang kailangan araling mabuti so we can apply what we learn during these kind of situations. usually kasi di maiwasan maging emotional nga sa decision-making lalo pa't hard-earned money ang involve.
Share ko lang this very famous tip . . .

"Trading spot currencies involves substantial risk and there is always the potential for loss. Your trading results may vary. Because the risk factor is high in the foreign exchange market trading, only genuine “risk” funds should be used in such trading. If you do not have the extra capital that you can afford to lose, you should not trade in the foreign exchange market. No “safe” trading system has ever been devised, and no one can guarantee profits or freedom from loss."


my two cents



« Last Edit: Jun 10, 2012, 10:49 PM by Mighty_Tea »


ferrariEverest

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Regarding demo account . . .
IMHO, kailangan maging cautious in using DEMO accounts. It should be used for the sole pupose of familiarizing oneself on how FOREX trading works as a whole.
walang 1 size fits all, Sir.

yung iba, ganyang lang purpose ng demo account nila.
yung iba, jan talaga training ground nila.

Quote
Wag nating gawing trading foundation ang DEMO account. Hindi porke't profitable ang DEMO account mo eh ready ka na to go "live" (pun not intended) or porke't you experienced "margin call" eh hindi ka pa ready to go "live."
tama Sir, hindi lagi madali magconclude base sa ganyang sitwasyon/outcome.

Quote
A DEMO account is a different environment against a LIVE account in the sense na walang "emotions" involved when you trade DEMO.
ang 'emotions' nakadepende yan sa nagte-trade.
merong gusto mag live account, kahit maliit lang, para 'ma-feel' nya na totoong pera ang tinetrade nya, at dahil dito magseseryoso sya.
merong trader na regardless kung demo or live, regardless of the amount. iti-treat nya ng seryoso yung trading nya.

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Basta alam mo na kung pano mag trade and you are dead serious about it, then by all means have a "live" account immediately . . . sayang lang panahon kung magtatagal ka pa sa DEMO account.
being serious does not grant a trader a license to trade live immediately.
kahit seryoso ka pa, kung hindi naman equipped with knowledge/experience, u will fail eventually.
please do not mistake passion/seriousness for knowledge/experience. they are ALL critically important but entirely different things.

Quote
Sa live account mo na ibuhos lahat ng akala mong alam mo na at malalaman mong marami ka pa palang dapat maintindihan.
mahirap po magtrade na ang pinanghahawakan mo lang is 'akala mo alam mo na'.
by the way, even successful traders, may natututunan pa rin along the way.
learning is a never ending process d ba.


by the way, yung advice ko na magdemo is a general advice. angkop sating mga Pinoy yan kasi bihira naman sa atin ang mayaman and bawat Piso mahalaga (hard earned money).
of course, yung iba dederetso agad sa small live account. i have no problems with that, since pwede rin yung ganun.
« Last Edit: Jun 10, 2012, 10:55 PM by ferrariEverest »


Mighty_Tea

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being serious does not grant a trader a license to trade live immediately.
kahit seryoso ka pa, kung hindi naman equipped with knowledge/experience, u will fail eventually.
with all due respect sir . . . ferrari

what better way to equip oneself with "experience" than doing it in a real live trading environment. Even the most knowledgeable and most experienced trader/investor can and will eventually fail. Remember LEHMAN Brothers. Even Albert Einstein . . . the greatest mathematician in the world at one point failed in his investments.

Nobody becomes succesfull without experiencing FAILURES. Failure is inevitable.

Its how you handle failure. That's why I mentioned "risk management."

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please do not mistake passion/seriousness for knowledge/experience. they are ALL critically important but entirely different things.
I once read . . .

"Success is the passionate, persistent, progressive pursuit of a productive purpose."
                                                                                         
Tiger Woods, Michael Jordan, Bill Gates, Steven Spielberg and all the other great men have one thing in common . . . they all have PASSION. And they all have failures at one point.

I believe Michael Jordan did not gain the the experience in becoming one of the greatest basketball player by just reading books and playing Nintendo Basketball Simulation Games. He played the actual game and took risks. And Micheal got tons of failures during his entire basketball career.

And would you believe that Michael Jordan was once cut from his High School Basketball Team? He's a failure at one point in his life.


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mahirap po magtrade na ang pinanghahawakan mo lang is 'akala mo alam mo na'.
by the way, even successful traders, may natututunan pa rin along the way.
learning is a never ending process d ba.

Exactly my point sir. Akala ng iba marami na silang alam dahil sa mga librong nabasa nila, mga advice na nasagap nila, seminars na in-attenand at dahil marunong na sila mag trade sa DEMO account.

Hangga't hindi nila ina-apply "in actual" lahat yun . . . .  "akala" pa lang lahat ng knowledge na yun.

And experience is gained once you do it in actual. Learning is indeed a never ending processs.

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by the way, yung advice ko na magdemo is a general advice. angkop sating mga Pinoy yan kasi bihira naman sa atin ang mayaman and bawat Piso mahalaga (hard earned money).
of course, yung iba dederetso agad sa small live account. i have no problems with that, since pwede rin yung ganun.

IMHO, the word Mayaman is subjective.

One should not trade their "hard earned money" The force of FEAR will be stronger.

Like I previously mentioned . . . "risk management."



Again . . . with all due respect sir ferrari.


totscalilari

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bucketshop trading firm sa Makati.
PFEC yung name. wala na sya ngayon or nag-iba ng pangalan. may thread yan dito.
kaya lagi ko sinasabi dito sa PMT na walang reliable FX broker sa Pinas.


whoaa! one of the more well known firms yon ha.. sinara sila for something na di clear and is actually being disputed.. i thing their boss is connected sa isang more "well known" firms ngayon.. haha


ferrariEverest

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what better way to equip oneself with "experience" than doing it in a real live trading environment.
i never said 'do not trade live'. ang sakin lang, for most people, hindi dapat magtrade ng live agad, demo muna.
kung madali lang ang trading, why not mag-live trading agad. ang kaso, hindi e, mahirap & magastos pag hindi nag-ingat.

let me ask u some questions:
pag gusto mo magpiloto, sasabak ka ba kaagad sa 'live' environment at magpapatakbo ng actual airplane? No, demo/simulator ka muna.
pag seaman ka/gusto magkapitan, magko-command ka ba agad ng barko? no. simulator ka muna.
pag gusto mo mag-MMA/boxing, sabak ka ba agad sa live fight, o practice sessions/sparring muna?
pag may gyera, sasabak ka ba ng walang armas o bala/kulang bala (bala = knowledge/experience)? No. pero if u do, delikado ka.
ang sanggol ba kaya ng tumayo/tumalon agad? No. gapang, tapos tayo, tapos lakad, then run, jump, etc.
there is a process.

may mga sitwasyon wherein pwede ka kaagad mag-live, pero merong sitwasyon na mas sensible na magdemo muna.

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Nobody becomes successful without experiencing FAILURES. Failure is inevitable.
in a demo environment, u can fail too. mas magastos pumalpak sa live environment. naexperience ko yun, pati ng ibang traders na nauna sakin/kasabay ko.
by the way, d ko sinabing iwasan or maiiwasan ang failure. not sure bakit mo binanggit yan.

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Its how you handle failure. That's why I mentioned "risk management."
MOST new traders DO NOT have a concept of risk management. wala silang alam jan. kung meron man silang alam, kulang ang kaalaman OR hindi nila maipatupad.
nag-umpisa rin ako sa ZERO kaya alam ko rin yan.

I challenge u to ask each NEW trader u meet, 'ano ang risk management?', 'pano ang risk management mo?'.. karamihan sa kanila, guaranteed clueless.

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"Success is the passionate, persistent, progressive pursuit of a productive purpose."
Tiger Woods, Michael Jordan, Bill Gates, Steven Spielberg and all the other great men have one thing in common . . . they all have PASSION. And they all have failures at one point.
u have made irrelevant points, since hindi ko naman kinokontra yang sinabi mo tungkol sa kahalagahan ng success/passion/failure.
hindi naman 'reading books' ang pagdedemo.
like i said, magkaiba ang passion sa knowledge/experience. i am not sure u understand that, Sir.

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Exactly my point sir. Akala ng iba marami na silang alam dahil sa mga librong nabasa nila, mga advice na nasagap nila, seminars na in-attenand at dahil marunong na sila mag trade sa DEMO account.
ang pagte-trade sa demo account ay isang step lang sa isang mahabang proseso.
next step, ideally, ay small live account.

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And experience is gained once you do it in actual
Demo IS an actual process. ang pinagkaiba lang, hindi live yung market price/environment, saka play money lang sa demo.


naiintindihan ko yung ibang sinabi mo, kasi ako halos d rin ako nagdemo.
pero base sa obserbasyon ko, mas pabor sa mga new traders na magdemo, at nakita ko na nakinabang sila sa pagdemo.
yung konsepto mo na pagtrade Live agad, pwede yan Sir. pero hindi applicable sa karamihan, lalo na sa Pinoy.
ang pinakita ko dito ay (hopefully) yung complete perspective regarding demo/live trading, kung ano yung + at - ng magkabilang panig.

With all due respect to you too, Sir


neat_chic

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u guys have both been very straightforward and i find it really helpful for those who might consider fx trading. :)

konting comment lang:

Its how you handle failure. That's why I mentioned "risk management."

having been in the division for the past few years, i could say that risk management emphasizes on preventive controls rather (mitigating risk) than corrective (handling failure) or detective (uncovering potential failure). I guess if you are into risk management, you would be more interested in mitigating risk than investing most of the time and cost on the other two.

about not trading hard-earned money: maybe a better way to say it would be - for a start, trade what one can afford to lose? otherwise if we talk about not trading hard-earned money then that could mean an average pinoy should never trade at all.


ferrariEverest

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I guess if you are into risk management, you would be more interested in mitigating risk than investing most of the time and cost on the other two.
good point.

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about not trading hard-earned money: maybe a better way to say it would be - for a start, trade what one can afford to lose? otherwise if we talk about not trading hard-earned money then that could mean an average pinoy should never trade at all.
opo, trade what one can afford to lose. iniba lang namin ngayon. :D

it would be unfair kung i-restrict natin ang karamihan sa ganitong negosyo, pero if we wanna be strict about it.... YES, trading is not for most Pinoys. it's not for most people, for that matter.

precisely why I said:
ang sakin lang, for most people, hindi dapat magtrade ng live agad, demo muna.
kung madali lang ang trading, why not mag-live trading agad. ang kaso, hindi e, mahirap & magastos pag hindi nag-ingat.
...
in a demo environment, u can fail too. mas magastos pumalpak sa live environment.
pero base sa obserbasyon ko, mas pabor sa mga new traders na magdemo, at nakita ko na nakinabang sila sa pagdemo.
by the way, yung advice ko na magdemo is a general advice. angkop sating mga Pinoy yan kasi bihira naman sa atin ang mayaman and bawat Piso mahalaga (hard earned money).

since bihira satin ang may maraming ipon/pera na pwede ipangnegosyo, ang panglaban natin ay knowledge+experience. we build this nearly risk-free in a demo trading environment.
ang trading kasi ay labanan ng capital at knowledge/experience.


Mighty_Tea

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Quote
let me ask u some questions:
pag gusto mo magpiloto, sasabak ka ba kaagad sa 'live' environment at magpapatakbo ng actual airplane? No, demo/simulator ka muna.
pag seaman ka/gusto magkapitan, magko-command ka ba agad ng barko? no. simulator ka muna.
pag may gyera, sasabak ka ba ng walang armas o bala/kulang bala (bala = knowledge/experience)? No. pero if u do, delikado ka.
ang sanggol ba kaya ng tumayo/tumalon agad? No. gapang, tapos tayo, tapos lakad, then run, jump, etc.
there is a process.
These are totally different to trading scenarios. “Buhay” ang nakataya dito not only yours but others as well... In trading, "money" (a piece of paper) is involved.

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pag gusto mo mag-MMA/boxing, sabak ka ba agad sa live fight, o practice sessions/sparring muna?
This one I find true and correct . . . if one wants to learn MMA, sabak agad sa practice/sparring session. This way mararamdaman mo agad kung pano masaktan, mapagod at ma dismaya “live.”

I wouldn’t tell someone to acquire knowledge and experience by playing MMA through Sony Wii station para wag ka muna masaktan. Sa practice/sparring session . . . nasa sa iyo kung sino ang gusto mong makalaban (RISK) at hanggang saan sakit ang kaya mo.

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may mga sitwasyon wherein pwede ka kaagad mag-live, pero merong sitwasyon na mas sensible na magdemo muna.
Point taken.

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in a demo environment, u can fail too. mas magastos pumalpak sa live environment. naexperience ko yun, pati ng ibang traders na nauna sakin/kasabay ko.
IMHO, One can never fail/succeed in a DEMO environment. You don’t lose or gain anything. You only build the confidence/doubt of unconfirmed results.

Everyone can choose to stay in their "Comfort Zones" or can choose to "challenge their limits."


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MOST new traders DO NOT have a concept of risk management. wala silang alam jan. kung meron man silang alam, kulang ang kaalaman OR hindi nila maipatupad.
nag-umpisa rin ako sa ZERO kaya alam ko rin yan.

I challenge u to ask each NEW trader u meet, 'ano ang risk management?', 'pano ang risk management mo?'.. karamihan sa kanila, guaranteed clueless.
I guess dyan pumapasok ang competence and comprehension of an individual.

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u have made irrelevant points, since hindi ko naman kinokontra yang sinabi mo tungkol sa kahalagahan ng success/passion/failure.
hindi naman 'reading books' ang pagdedemo.
like i said, magkaiba ang passion sa knowledge/experience. i am not sure u understand that, Sir.
Well, at this point I have to rest my case on getting knowledge/experience through DEMO account trading.   :thankyou:




Let me just share 3 Golden Keys in Trading FOREX. According to Mario Singh . . .  100% of a traders success can be attributed to M.S.S. or simply:

Money Management = 30%
Strategy = 15%
State (State of Mind) = 55%

Strategy is WHAT to do
Money Management is HOW MUCH to do
State is TO do or NOT to do. And that is the real question.

Napakadaling sabihin ang hirap gawin.


While another individual states that "TRADING is actually 90% Psychology"


So which is which? Jut choose your poison.  :D


hth


ferrariEverest

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These are totally different to trading scenarios. “Buhay” ang nakataya dito not only yours but others as well... In trading, "money" (a piece of paper) is involved.
Actually, buhay rin po ang nakataya kasi ang pera ay gamit natin para mabuhay. Most new traders make costly trading mistakes &/or trade money they can't afford to lose.
siguro sayo papel lang talaga yun, baka mayaman ka na. pero sa karamihan, kabuhayan ang nakataya.

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Sa practice/sparring session . . . nasa sa iyo kung sino ang gusto mong makalaban (RISK) at hanggang saan sakit ang kaya mo.
that is not my experience. sa sparring, hindi ako ang namimili ng kalaban ko. Yung coach ang namimili  :D

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I guess dyan pumapasok ang competence and comprehension of an individual.
You guess? So, you are merely guessing.
I've been a forum member in trading forums since 2005/2006, & actively posting since 2009. many traders are professionals & most of them are 3-20 years older than me. unemployed ako. how come mas marami ako alam/naiintindihan sa karamihan sa kanila? I even 'coach'/advise them.
My point is competence & comprehension in a prior profession DOES NOT always translate well into trading. may nabasa din ako dati, yung mga magagaling na tao, professionals like managers, lawyers, PhD's, etc na pumapalpak sa trading.
Trading is a different ball game.

It's great to spar with u. :D
Cheers


totscalilari

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question guys, when you first started trading, did you make your own trading plan, or copied someone's trading plan, then adapted it for yourself?? or puro support and resistance lang kayo?? :)


suntzu

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i'd say, those who disagree with experienced traders, let them experience how it is. how about this: "The more you sweat in training, the less you will bleed in battle." - Motto of Navy Seals. let the money burn, "papel" lang yan; let the body bleed, "buhay mo yan".


SAGAD

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question guys, when you first started trading, did you make your own trading plan, or copied someone's trading plan, then adapted it for yourself?? or puro support and resistance lang kayo?? :)

now is the right time for someone like urself to try everything out...

there are a thousand ways to trade...

there are 2 school of thoughts here...

one says to find a style/method that fits ur pesonality...they say that until u find the style/method that fits u, u will most probably abandon what u are currently doing and look for another system...but then, u have to realize that most systems have their periods of drawdowns...u are most likely to quit a system during theses times, just when they are about to make money...

the other school of thought says u have to undergo behavior modification because human nature, as molded by society, education and culture, is almost in the opposite polarity of how the markets work...

anyway, i assume ur still learning...good for u and good luck... :applause:


IGX

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anong tip po gusto nyo?
pwede na po yung advice ko sa itaas (prior your post)
like in any business, basta committed ka at i-pursue mo, pwede talaga maging  sustenance nyo.

medyo iniisip ko na po kasi tumigil sa pagiging isang empleyado since single na (plugging) pwede na ako maging mas risk taker.

iniisip ko po kasi kung meron bang mga nabubuhay lang sa Forex, MF, UITF, TD, SDA bilang income nila?

and how are they doing, tulad nyo po, nabaso ko po na unemployed kayo, i assume Forex is one of your source of income?  kumusta naman po ang pagfoforex for 7-8 years na?

since natry ko mag live account for 3 months and sa huli lang ako nalugi, i'm willing to try it again but with a contingency plan in place.

any tip you can provide aside from previously posted will do :)

salamat FE :)


ferrariEverest

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hahaha. masarap magtrade pag walang istorbo (gf) :D

may nabubuhay sa MF, UITF, TD , SDA? meron siguro pero super konti lang siguro at kung meron man malaki ang kapital nila :D tapos ang MF, UITF, hindi yan reliable na source ng income/livelihood kasi prone to changing & volatile market conditions.
ang SDA hindi yata lagi offered ng banks, may panahon lang. +/-year 2008 lang ako na-expose sa SDA (ewan ko lang kung offered na yun dati pa).

ang forex ko, started 2005/2006, pero hindi tuloy tuloy yun. kasi early- to mid-2000s involve parin ako MLM, among other stuff.
2008/2009 ako nagfulltime sa FX trading.
malayo pa para maging satisfied ako sa performance ko (mataas standards :D ), pero experience wise, mejo malawak na.
malaking tulong yung pagiging unemployed, yung free time ko na-devote sa pag-aaral/practice/monitor sa trading & charts.

Sir, since may experience ka na pala at u are still showing interest sa pagtrade, I highly encourage u to get back into trading. this time, demo ka muna, for 6-12months (or until u show consistent success). kung gusto mo mag Live trading agad, maliit na kapital muna $1 - $100, tapos gamit ka ultra low leverage, tapos bawat trade mo maliit lang position size. pag sinunod mo yan, Guaranteed d ka na malulugi/hahaba ang buhay ng account mo.
if u need assistance, PM ka lang Sir, or post ka dito.

btw, I do not encourage u na magresign agad, Sir.
samahan mo pa yung boss mo ng at least 1-2years :D , habang nagdedemo ka, habang pinapalago mo savings+experience+trading confidence mo.


Mighty_Tea

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question guys, when you first started trading, did you make your own trading plan, or copied someone's trading plan, then adapted it for yourself?? or puro support and resistance lang kayo?? :)
Let’s try to make it simple. If you want to go to a certain destination yet unknown, you need a MAP. The map will probably show you several routes. You decide to take one route and head on that direction.

Now you have two choices, either you bring your map all the way or you can toss out the map mid-way and take a different route.

In trading, if you want financial success, you definitely need a M.A.P. It stands for:

Mentor
Attitude
Platform

You can’t just rely on your natural talent.  You need a mentor. The kind that . . . has already achieved financial success. And if I may emphasize . . . “has already achieved financial success.”

Your mentor will show you the proper Attitude. The Platform, in this case is trading currencies.

Look guys, Im no expert and certainly don’t have enough knowledge/experience YET . . .  unlike most of the active posters here. 

And I know mahirap tanggapin ang sinasabi ng isang bago . . . right? Its a natural human behaviour.

But I tell you guys, these ideas I’ve shared are not my own.  Im still in a very long way towards my goal actually.

These ideas come from not only expert traders but “have already achieved financial success through trading.”

Im just here to share.

I’ve seen their trades and how much they do . . . figures are so incredible that an average Filipino would really find it very hard to comprehend. I did.

Hindi naman paramihan ng post dito? And certainly hindi naman seniority?

Mas importante yata kung anu-ano ang mga nalalaman. Its the substance as they say.


To those who wants to enter the trading world. May I suggest these books.

Rich Dad, Poor Dad – Robert Kiyosaki (if this book didn't move you one bit . . . read it the second time)
Think and Grow Rich – Napoleon Hill
Disciplined Trader – Mark Douglas
Fooled by Randomness -  Nassim Nicholas Taleb (this one is intriguing)
The Black Swan - N.N. Taleb (hindi ko pa nababasa baka gusto nyong mauna tapos kuwento nyo na lang) :hihi:

These books will help you develop a winning mental attitude. 

As the experts say, Psychology plays a BIGGER role in trading far better than “knowledge and experience.”
(if you find this hard to believe . . . google up "Trading Psychology")

And in case you are still one of the average Filipinos who have a strong attachment to their “hard-earned” money . . . then these books will help you look at “money” in a different perspective. 




hth




SAGAD

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^^^ good book recommendations, especially the "Fooled By Randomness" by Taleb...

if u are serious abt trading and u are not sure if u are on the right direction as far as trading is concerned, read this book...

if u can't even put the time to read the book, i'm afraid that fateful day will come in the future wherein...anyway, just read the book :hihi:


neat_chic

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^

thanks for these suggestions!! saved me time googling :D
i need to take your advice regarding rich dad, poor dad.. i might need a refresher since i read it 10 years ago.. :thankyou:


No need to quote previous post
« Last Edit: Jul 26, 2012, 01:29 PM by part_timer_lang »


ferrariEverest

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question guys, when you first started trading, did you make your own trading plan, or copied someone's trading plan, then adapted it for yourself?? or puro support and resistance lang kayo?? :)
natural naman sa umpisa, zero knowledge d ba.
so tendency is mag-explore at gumaya/kumopya. eventually, gagawa ka ng sarili mong diskarte/variation.

yung S&R, pwede mo gawing backbone ng trading strategy/system mo.


totscalilari

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You can’t just rely on your natural talent.  You need a mentor. The kind that . . . has already achieved financial success. And if I may emphasize . . . “has already achieved financial success.”

Your mentor will show you the proper Attitude. The Platform, in this case is trading currencies.


read about this several times.. kaso dito sa pinas, parang puro manggagantso mga mentor. :)


Senyor

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Napatimpla ako ng kape sa thread na to ah.
Dumadami na Fx Traders dito.
Ayos!


kambal825

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Meron po bang forex broker sa Pilipinas tulad ng citiseconline? Pwede po bang pang long term investment ang forex?  :huh: :whistle:   Pasensya na po sa tanong ko.... :D


SAGAD

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read about this several times.. kaso dito sa pinas, parang puro manggagantso mga mentor. :)

ya...when the "mentor" is really a good trader, why does he need to charge a beginner di ba?  :hihi:

unless he is not successful himself... :watchuthink:

anyway, to each his own i always say... :D


ferrariEverest

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kaso dito sa pinas, parang puro manggagantso mga mentor. :)
kaya nga mas maigi, maging self-reliant tayo lahat :D
Gamitin ang internet :cool2:


totscalilari

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may gumamit na ba dito ng backtest software? what do you guys think about it?


Mighty_Tea

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I just couldn't believe what I'm reading about your ideas of mentorship.

read about this several times.. kaso dito sa pinas, parang puro manggagantso mga mentor. :)
Have you actually experienced this sir?

Yan problema sa karamihan ng AVERAGE Filipino . . . pag nakarinig lang ng "The Sky is Falling" madaling mapaniwala.

I just came from John Calub's Seminar about Forex Trading held at Rembrandt Hotel. And do you know who the guest speaker was? . . .  its Mario Singh himself.

John Calub is the Philippines No.1 motivational speaker. Before he even become successful, he had a mentor from the likes of Tom Peters, Tony Buzan and Jack Canfield to name a few. You can just google John Calub to learn more . . .

Mario Singh is the the No.1 International FOREX Expert/Trainer. He has appeared more that 50 times in CNBC Asia to discuss about the FOREX Market. You can also google him for more . . . .

And you know what's the best thing about this seminar? ITS ABSOLUTELY FREE!!

Held at the Penthouse of Rembrandt . . . fully airconditioned . . . comfortable seats . . . very good visual aids/sound system and with a complete group of STAFF.

And all that for just 3 hours (actually 4) of our very precious time . . .

In that seminar, Mario actually teached how to trade forex.  Most of you would already know what he just taught in the seminar but it would be great to actually hear them straight from an EXPERT.

Lahat naman siguro marunong nang mag basketball diba and how would you feel if Michael Jordan himself teach you to play basketball?


Bing Barredo a Filipino but a resident in P.N. Guinea and a student of Van Tharp Institute came here in the Philippines and conducted last April 2012 a Forex Trading Workshop also for FREE . . . actually he charged a "refundable" Php1,000.00 just to separate the "curious" from the "serious." After the seminar I got my money back!

Mark So, Expert Trader/Forex Trainer and founder of Forex Club Asia also hold seminars and workshops.

Kung meron mang totoong mentor na manggagantso then that's when your due diligence comes into play.

Of course there are seminars conducted by them  with a fee . . . but maybe you should try to look at it this way . . .

Do you remember Newton’s Universal Law?

“For every action, there’s an opposite reaction.” 

Or simply put it . . . You can’t have Something, out of Nothing!

Yung  iba, can't afford not willing to pay for the seminar/workshop fee would immediately say manggagantso lang yan or marketing scheme lang yan (the sky is falling) just to confirm they’re non-willingness.  That’s the same as “sour graping” isn’t it.

Even Warren Buffet, world’s greatest investor before he became what he is now also had a mentor . . . none other than Benjamin Graham.

Think of one successful man who didn’t have a mentor that helped them succeed. If there’s any.

Please don’t under estimate the importance of mentorship.

Others say use the Internet to educate oneself. That’s great . . . the internet holds almost all the “information” one needs.

Information but not  W I S D O M. You can hardly find WISDOM in the internet.  Wisdom comes from the very person who have conquered his/her chosen field.

You can choose the hard way (self-reliant) or the easy way (mentorship).

I’d choose the easy way. If its easy it must be better. And if its better it becomes easy and easier.

Please find the time to read the books recommended. It will put you in a better mindset.

Rich Dad, Poor Dad – Robert Kiyosaki (if this book didn't move you one bit . . . read it the second time)
Think and Grow Rich – Napoleon Hill
Disciplined Trader – Mark Douglas
Fooled by Randomness -  Nassim Nicholas Taleb (this one is intriguing)
You can add
Secret Code to Success - Noah St. John (Not related to trading but a very "powerful" book for developing a better mindset)



my two cents










Prospera

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^Like you, I think it's not fair to make sweeping statements and conclude that a mentor is no good because he would not offer his services for free. Would you go to someone like Soros or Warren Buffet--to give an extreme example-- and expect them to teach you everything they know for a song?

Understand that I'm not necessarily saying you shouldn't try and learn forex-trading on your own. In fact, I consider myself basically self-taught. Nothing wrong with that either.

It's all a matter of choice (as I keep saying like a broken record).

Post Merge: 1339636676
Meron po bang forex broker sa Pilipinas tulad ng citiseconline? Pwede po bang pang long term investment ang forex?  :huh: :whistle:   Pasensya na po sa tanong ko.... :D

Hi. With the advent of the Internet, there really is no compelling need to confine yourself to local forex brokers. What's more important is to find one that's regulated and with a good reputation.

Re forex as a long-term investment, one has to be well-capitalized to do position-trading (that is, to hold trades for weeks/months on end). The higher the time-frame, the more you should be able to withstand bigger losses compared to someone trading intraday.
« Last Edit: Jun 14, 2012, 09:17 AM by Prospera »


totscalilari

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I just couldn't believe what I'm reading about your ideas of mentorship.
Have you actually experienced this sir?

Yan problema sa karamihan ng AVERAGE Filipino . . . pag nakarinig lang ng "The Sky is Falling" madaling mapaniwala.


Hi mighty tea. ok "manggagantso" is a strong word but most of this seminars are for people na walang kaalam alam sa forex and basically to open their minds to the possibilities with forex trading. All seminars naman ay ganyan. You can't expect to learn something within a day. And for me, mentorship is someone to guide you every step of the way, ala school or working under a boss. You might say you can contact this guys afterwards if you have questions, or set a meeting, pero goodluck if they can accommodate you if hundreds of people who attended their seminars are thinking of doing the same thing.

I might try Mark So or yung SRD school, may thread sa sight na ito. Although with Mark So, comments on this site say your better of with babypips school of pipsology, but his site gives statements that indicate mentorship, ie. guidance as you continue with trading. Mura lang naman ata seminar niya or baka free, won't hurt to check it out. With SRD naman, parang school pero mahal, not even sure if this continued, heard about it lang as a post on this site.

Personal experience is with a broker several years ago. Was attending their classes for two weeks and the guy really opened my mind to forex trading. kaso nga lang he was more interested in getting clients and making money of this clients. ie. making as much trades as possible. Brokers commissions are per trades.

May mentor ka ba mighty_tea? baka pwede mo share, o baka friend mo lang? :) Actually being mentored by a friend is better. :)  



  

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Just like to add that this forums are great. Mejo parang mentorship narin. I went from going to a broker that says "walang kahirap hirap ang Php 100,000.00 / month (YEHEY!!!) to reputable experts that says "expect to lose USD 10,000.00 (HUH??, sana nag pyramiding nalang ako Php 10,000.00 lang mawawala, walang kahirap hirap pa) to people in forums who gives sensible advice and says making money out of this possible although you still have to be alert on who is sensible and who is not.. Cheers!!
« Last Edit: Jun 14, 2012, 04:03 PM by totscalilari »


Senyor

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whoaa! one of the more well known firms yon ha.. sinara sila for something na di clear and is actually being disputed.. i thing their boss is connected sa isang more "well known" firms ngayon.. haha

1998 May MIFE (Manila International Futures Exchange) FX Futures Trading Firms namely Everich, MerriRich...etc... Napasarado ng SEC wala kase regulation.

2002 ata? Merrill Lynch (aka Merlin) closed shop dto sa pinas. Walang benta.

2002 PFIC (Phil Performance Inv. Corp) is an Investment House they trade your money yun nga lang tinakbo ng may ari. Ala Maddoff ponzi scheme.

Matinong Fx Broker dito pag may 15 to 50K  USD Tullett Prebon at CitiFx
Pag retail pasadahan mo ng isang buwan ang mga online brokers.




totscalilari

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Pag retail pasadahan mo ng isang buwan ang mga online brokers.


Sir, anong ibig sabihin na pasadahan ng isang buwan? Trade ako sa kanila for 1 month?


Senyor

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Sir, anong ibig sabihin na pasadahan ng isang buwan? Trade ako sa kanila for 1 month?

1 month to review feedback and check cases filed against them
karamihan sa online fx brokers may kaso sa CFTC CSYSEC FSA etc.
piliin mo yung may pina ka konting kaso.

demo ka pre ahh hmmm testing mo muna, suggestion ko mga tatlong buwan. Kelangan mo mag tatlong month end. 3 non farm payroll, 3 fomc, at tatlong winning trades

mangagalay kamay mo nyan. sanayin mo kaliwang kamay mo sa mouse.

good luck brad.


SAGAD

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I just couldn't believe what I'm reading about your ideas of mentorship.
Have you actually experienced this sir?

Yan problema sa karamihan ng AVERAGE Filipino . . . pag nakarinig lang ng "The Sky is Falling" madaling mapaniwala.

I just came from John Calub's Seminar about Forex Trading held at Rembrandt Hotel. And do you know who the guest speaker was? . . .  its Mario Singh himself.

John Calub is the Philippines No.1 motivational speaker. Before he even become successful, he had a mentor from the likes of Tom Peters, Tony Buzan and Jack Canfield to name a few. You can just google John Calub to learn more . . .

Mario Singh is the the No.1 International FOREX Expert/Trainer. He has appeared more that 50 times in CNBC Asia to discuss about the FOREX Market. You can also google him for more . . . .

And you know what's the best thing about this seminar? ITS ABSOLUTELY FREE!!

Held at the Penthouse of Rembrandt . . . fully airconditioned . . . comfortable seats . . . very good visual aids/sound system and with a complete group of STAFF.

And all that for just 3 hours (actually 4) of our very precious time . . .

In that seminar, Mario actually teached how to trade forex.  Most of you would already know what he just taught in the seminar but it would be great to actually hear them straight from an EXPERT.

Lahat naman siguro marunong nang mag basketball diba and how would you feel if Michael Jordan himself teach you to play basketball?


Bing Barredo a Filipino but a resident in P.N. Guinea and a student of Van Tharp Institute came here in the Philippines and conducted last April 2012 a Forex Trading Workshop also for FREE . . . actually he charged a "refundable" Php1,000.00 just to separate the "curious" from the "serious." After the seminar I got my money back!

Mark So, Expert Trader/Forex Trainer and founder of Forex Club Asia also hold seminars and workshops.

Kung meron mang totoong mentor na manggagantso then that's when your due diligence comes into play.

Of course there are seminars conducted by them  with a fee . . . but maybe you should try to look at it this way . . .

Do you remember Newton’s Universal Law?

“For every action, there’s an opposite reaction.” 

Or simply put it . . . You can’t have Something, out of Nothing!

Yung  iba, can't afford not willing to pay for the seminar/workshop fee would immediately say manggagantso lang yan or marketing scheme lang yan (the sky is falling) just to confirm they’re non-willingness.  That’s the same as “sour graping” isn’t it.

Even Warren Buffet, world’s greatest investor before he became what he is now also had a mentor . . . none other than Benjamin Graham.

Think of one successful man who didn’t have a mentor that helped them succeed. If there’s any.

Please don’t under estimate the importance of mentorship.

Others say use the Internet to educate oneself. That’s great . . . the internet holds almost all the “information” one needs.

Information but not  W I S D O M. You can hardly find WISDOM in the internet.  Wisdom comes from the very person who have conquered his/her chosen field.

You can choose the hard way (self-reliant) or the easy way (mentorship).

I’d choose the easy way. If its easy it must be better. And if its better it becomes easy and easier.

Please find the time to read the books recommended. It will put you in a better mindset.
You can add
Secret Code to Success - Noah St. John (Not related to trading but a very "powerful" book for developing a better mindset)



my two cents










I have nothing against mentoring, i'm just wary of people teaching people how to trade when they  themselves aren't trading for a living...they are teaching for a living...

personally, i do not contest the idea that a good mentor can indeed help a new trader...

i myself had several mentors in the past, 2 actually...

one from the US who "guided" me through Price Action trading...

another from Austria, a floor trader, who actually trades for a living...

anyway, both of them had different styles, one was a chartist and the other one didn't even use charts... :hihi:

and their money management was on the extremes, one was ultra conservative, one defied the norm... :cool2:

and they didn't charge me a single dime...  :watchuthink:

mentorship, go for it...but be careful, that's all i'm saying...


RosendoCuyasen

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This is a cool trading tread.. I'm a trader before but I quit.. hahaha.. pero dito parang magigising na naman ako..


Prospera

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^Welcome to the forum and to this thread, Rosendo.:-)


luckydragon88

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I'm not basically new to forex trading....

I was a forex trader before the internet age. Trading was done by brokerage firm and you need big investments to start to trade as in min of P250K which you could loose fast as in overnight. Most traders were not trained, we were only given basic training. When to enter and exit the market, how to calculate margin calls, profits/loss, etc. So you dont expect to come out a winner but more burned accounts due to poor training.

Most of this brokerage were closed already due to many people's money flying away overnight that prompted the government to close this "hk mafia firms".

Now that the internet is allowing small investors to participate in this biggest money tool of the decade, the interest of forex trading is coming back again and I'm glad to see many Pinoy forex traders in this forum.

I still consider myself a newbie and would like to learn more before trading again. I value all insights given here since most of them are posted by real traders.

Again, thanks to this forum and to the members who are sharing valuable insights in their trading experienced.


ferrariEverest

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Hello Sir luckydragon,
u are lucky, u already have a huge headstart compared to us.
I believe u are equipped to pursue your passion.

Do browse around and ask questions (here or thru PM).
U are way experienced than most of us, so I'm not sure if we can help :D
I'd also appreciate if u could share more stories about your experience :)


luckydragon88

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Sir Ferari,

I wouldnt say i am experienced here since its starting all over again,
nandyan pa din ang fear esp trading with your own money
and of course no matter how much you analyze the market
mahirap pa din maintindihan ang market factors
so i'm glad with this forum.

still in forex kindergarten pa din.
since did lost so much money before

ang advise ko lang:
sa newbies: treat your few investment as forex college tuition fee. nothing teaches better than real trade . You can win all the time with demo trade, but it doesnt matter, but once you start actual trade, THAT is what MATTERS kasi money mo na ang involve. If unsure stay out of the market.

Post Merge: 1340021384
would lke to add this:

Forex highs and thrills and lost will always be there. Its more challenging to trade forex because once you touch Margin Call and your in a loosing position you have to cut your loss compare to stock market wherein you can leave your position and pray hard the market will go ur way even after for a few years. Unlilke FOREX you loose quick and need to get off quick once the tide comes in. And if you are profiting, U need to get out quick also.
« Last Edit: Jun 18, 2012, 08:09 PM by luckydragon88 »


Gwargz

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Forex, trading and related topics are very new to me. Not new to me is that I have some savings which qualifies for trading, say 100k. Now, my layman's question, how much possibly will my 100k earn in a year? Please educate me. Salamat po.

Post Merge: 1340238749
,,, if there is a broker in here who is interested with my little cash, kindly e-mail me na lang. Educate me. My email address is gwargz@yahoo.com. Tnx and God bless.
« Last Edit: Jun 21, 2012, 08:32 AM by Gwargz »


Prospera

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Hi. The usual suggestion for a forex newbie is to make babypips.com your first stop. There you'll get a bird's eye view of the forex-trading landscape. Then you'd need to do practice trading on a demo-account. Only after you've become profitable with your virtual trading should you open a live account. Don't rush!

Good luck...



leo0707

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Forex, trading and related topics are very new to me. Not new to me is that I have some savings which qualifies for trading, say 100k. Now, my layman's question, how much possibly will my 100k earn in a year? Please educate me. Salamat po.

Post Merge: 1340238720
,,, if there is a broker in here who is interested with my little cash, kindly e-mail me na lang. Educate me. My email address is gwargz@yahoo.com. Tnx and God bless.

you can earn as much as you want but at the same time you can lose all your money. If that amount is out of hard labor, set aside for other things apart from trading. However, if you really want to trade, educate yourself, be familiar with everything related to trading, and practice in demo account. Educate, how? you can find almost everything on the internet. Start browsing 'forex market' in wikipedia and if something that you don't understand post it here..So what are you waiting for? start throwing questions now.. =)

Post Merge: 1340385735
Does anyone here knows any market maker in cebu city? let me know please.
« Last Edit: Jun 23, 2012, 01:22 AM by leo0707 »


ferrariEverest

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^ Are you looking for a market maker or are you trying to promote one?

unless someone can tell me & prove otherwise, walang reliable Retail Forex broker sa Pinas.
saka brokers na market makers ay nabubuhay sa pamamagitan ng pag-ubos ng pera ng client because they trade against their clients.
so I advice newcomers to trade with reliable international brokers, tapos hangga't maari ECN broker kunin nyo, hindi market maker broker.
magresearch kayo, ako nagreresearch pa din :D


calbert

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^ Are you looking for a market maker or are you trying to promote one?

unless someone can tell me & prove otherwise, walang reliable Retail Forex broker sa Pinas.
saka brokers na market makers ay nabubuhay sa pamamagitan ng pag-ubos ng pera ng client because they trade against their clients.
so I advice newcomers to trade with reliable international brokers, tapos hangga't maari ECN broker kunin nyo, hindi market maker broker.
magresearch kayo, ako nagreresearch pa din :D

Is it okey to do Forex Trading by relying with Signal Provider Performance using ZuluTrade?


ferrariEverest

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possible Sir.
pero hahanap po kayo ng matinong provider, w/c will take time AND money :D

mas maganda kayo na lang mismo parang mas malaking satisfaction


Mighty_Tea

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Is it okey to do Forex Trading by relying with Signal Provider Performance using ZuluTrade?


Find the dumbest trader. Much more easier to find than the really good ones.

Then "trade against" them.  :watchuthink:



 :hihi:







ferrariEverest

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Prospera

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^Speak for yourself, fE, lol.  :hihi:

Anyways, using signal providers like Zulu does/can work for some people PROVIDED they take time to at least learn  the basics (knowing how to size your positions is crucial here, imo). They also should study the style of their chosen trader thoroughly before actually signing up.
« Last Edit: Jun 28, 2012, 08:51 AM by Prospera »


thetubafx

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I am new to this forum. I am using price action signal, the only indicator I use is the 8 and 21 EMA to determine the trend of the market. I am looking on EURUS,GBPUSD,AUDUSD,and GBPJPY on a daily chart.

I hope we can exchange some ideas regarding forex trading here in the forum.



willalbert

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what is the usual broker na ginagamit ng mga nagtatrade sa pilipinaas?

Post Merge: 1343192340
hi thetubafx... what is your broker? or site?

thanks.

Post Merge: 1343196349
ginagamit ko ngyon is www.easternmarkets.com - astig cla and napakadali ung platform nila... check nyo..
« Last Edit: Jul 25, 2012, 02:05 PM by willalbert »


part_timer_lang

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^@willabert, kelan po nagsimula ang easternmarkets sa forex? At gaano katagal mo na silang ginagamit?


arcaye

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Hi everyone!  I am new to this forum.  I have been trading forex for 6 years and stocks for more than 10 years.  It was harder to trade back then because of unreliable internet connection and trading platform.  Nowadays, the execution is much faster and I can place a trade virtually anywhere.

Forex trading is not for those with weak stomach.  It takes calculated risk and discipline to succeed.  Experience tells me that emotions can be my own worst enemy.  The best piece of advice I can give is learn from your mistakes and dont give up!



ferrariEverest

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^ wow, a very experienced trader. tuloy po kayo! (welcome!)


Prospera

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^Nice to see more forex traders coming on board. Welcome...:-)


Senyor

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Welcome po Sir Arcaye. We could really use good tips from veteran traders such as yourself.
We await your insights and wisdom.

cheers!


Prospera

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^Hi, Senyor. Did you get to attend the Mandarin event with Kishmore M last night?  If so, how was it?


george88

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Sino kaya nakakakilala kay Marco one of best in forex trading...


denyx01

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Hi everyone!  I am new to this forum.  I have been trading forex for 6 years and stocks for more than 10 years.  It was harder to trade back then because of unreliable internet connection and trading platform.  Nowadays, the execution is much faster and I can place a trade virtually anywhere.


I agree... You need to conquer your emotions towards trading..especially you are handling your personal account.. Again reliable internet connection plays big role in your trading activity.. I had a very bad experience last night with ECB Draghi conference.. i had my EUR/USD buying at price level of 1.2240 early before the ECB decision results.. when the fundamentals or event arrive around 8:00PM  my buying gained for almost 145 points.. since the FOMC of America was released the same time and with Draghi disappointing result of unchange rates of ECB from 1.2390 level just a few min i saw my candle stick erasing what he gained earlier.Im trying to order the Take Profit then suddenly i lost my internet connection... then after 15 min... my almost 150 pips gone and i was left negative of 30 pips...  I feel horrible and thinking of writing a letter to my internet provider to complaint my lost opportunity in market... before the event i prepared earlier, did analyse the market very well and prepared my self for the up coming event last night... Yes, all my target price last night was hit.. but all of these didnt work because of my sucks intent connection....

:( 

Forex trading is not for those with weak stomach.  It takes calculated risk and discipline to succeed.  Experience tells me that emotions can be my own worst enemy.  The best piece of advice I can give is learn from your mistakes and dont give up!




arcaye

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Believe me, i know how you feel.  It happened to me several times in the past and there was nothing i could do.  When trading fundamental news, every second counts.  Always have a backup plan for your unstable internet.  Get an iphone or android phone and a data plan from your service provider.  If your broker doesnt support mobile app, better move to the ones that do.


denyx01

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Wow.. last night i learn my mistake.. this evening i gained back what i had lost last night..though its not 100%.. TGIF.. lets wrap it up.. I will get back in the market next week...

Happy investing.... ^__^


Senyor

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Welcome to the Darkside boys. Yup, Mario's speech was nasty. Lam kong feeling nyang gusto mong umiyak. KAMOTE talaga.

Short the Euro till 1.2330 then go long.
Set stops 80 pips away from the trendline.

Nga pala napansin ko rin nung bagsak eruo akyat Tanduay at Manila Jockey Club (PHISIX) 50%up!!! Loko tong mga multinational fund managers d2 napapagalaw din merkado sa pinas.

Eto brad baka kako makatulong.


EURUSD Established Pattern by ڰenyor™, on Flickr

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^Hi, Senyor. Did you get to attend the Mandarin event with Kishmore M last night?  If so, how was it?

Hi Prospera,

naku madame! di ako naka attend. inipit ako ng FOMC at Draghi news. Sakit sa tyan.
sayang nga di ko na silayan yung kishmore. babalik sya sa Aug 9 Thursday .. attend na ako.

punta ka na rin po ma'am.

 
« Last Edit: Aug 05, 2012, 01:13 AM by Senyor »


Synapse

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Create tayo ng Official Facebook page. Marami ring mga Pinoy Traders nag converge thru Facebook.


denyx01

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Agree ako kay Synapse, so we can share and post some helpful tips in trading..another thing, also to promote forex in Philippines...  ;)



 


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