Forex Trading (PFEC)

[Negus]

Guys,

Feedback pls about forex trading (PFEC)....
http://www.eforex-asia.com
I've tried a demo account using the FX station trading tool. As of now basics lang ang alam ko but kumikita naman yung demo account.... btw, ang lakas ng dollar ngayon vs. yen, gbp, euro. i have started watching bloomberg dahit dito. I have tried small business and worked for the family business in the past 2 years, but this is my first try at this kind of trading.

sa mga naka-try nito, comments naman po about the risks and rewards involved sa ganitong trading....

pahabol, PFEC lang ba ang authorized ng central bank? sorry for the noobish questions.

[aromatics]

I make a good money working in the oil& gas industry but i have a lot of spare time and i am really interested in foreign currency trading...

is it exciting? mahirap ba o madali ba matuto, i have inclination sa figures and money matters ;-) i wanted to study kung may mga nagbibigay classes sa ganito...IS IT FULL TIME ?

regards

[Yamada Jiro]

To my knowledge, the forex market is a 24 hour market. Traders here get to choose which shift they want. Or at least that would depend on the company they work for. Making money in forex is quicker, losing it is quicker. It's much more volatile than playing the stock market.

One thing is certain, whichever market you choose to trade, it's important for you to know how to analyze the charts, especially for forex, otherwise you're roadkill.

[Trajano]

The most important thing to consider before you enter any kind of trading is to know how much fund can you spare without hurting your finances. Kapag tingin mo na pag natalo ka at nasaktan ka, then wag ka ng mag-try. Good thing the're these online mock tradings, at least you can have a feel of how the market plays. But I tell you, the real trading is much much different. Forex trading is a past pace kind, kung wala kang panglarga na malaki, mahihirapan ka lang at malamang baka magalaw mo pa ang mga importante mong savings at pondo. Ilang ticks lang dyan, ang laki na. Forex is too volatile. Yong ilalaro mo sa stock trading ng 2 buwan, sa forex madalas ay ilang oras lang yan. Tempting yes, because the yield is great, but the risk is enormous.

[Reypal]

Try to open this link.
Forum talking about same topic.
http://www.entrepreneur.com.ph/board...?topic=15264.0

[Trajano]

I make a good money working in the oil& gas industry but i have a lot of spare time and i am really interested in foreign currency trading...

is it exciting? mahirap ba o madali ba matuto, i have inclination sa figures and money matters ;-) i wanted to study kung may mga nagbibigay classes sa ganito...IS IT FULL TIME ?

regards

All forex traders will tell you that it's easy (for obvious reasons). Maglaro ka muna sa mga mock tradings online at makikita mo ang laruan sa forex. Maraming tools na pwede kang gamitin sa pag-analyze ng market. Nandyan ang fundamentals at technicals pero in the end yong personal skill mo pa rin ang mananaig. Sabi ko nga sa unang post ko, okay lang na pumasok ka sa forex trading as long as na ang gagamitin mong pera ay spare fund mo lang, at hindi masakit sa dibdib mo pag nawala. Kung manalo e di masaya ang buhay. Rule of the thumb sa forex: CUT THE LOSS, RUN THE PROFIT. Kailangan buo ang loob mo to bite the bullet when you see that you're losing. Sad to say sa experience ko, daming ayaw lumabas hoping that the market will go their way eventually, thus, they would always infuse and infuse and infuse until they are totally wiped out.

[Trajano]

Ang laki naman ng initial investment nitong PFEC.

Try www.oanda.com. Dyan ako nagti-trade pag may spare fund ako.

[aromatics]

thanks a lot...

so it is an investment and the risk is enormous...well, i have to follow your advice...id been burned before in a different biz and is on a comeback trail working the last 2 years but i am making excellent money now but im not saying im gonna waste it...

is inclination in mathematics and high iq a factor ;-)

thx for the advice bro...

[Yamada Jiro]

thanks a lot...

so it is an investment and the risk is enormous...well, i have to follow your advice...id been burned before in a different biz and is on a comeback trail working the last 2 years but i am making excellent money now but im not saying im gonna waste it...

is inclination in mathematics and high iq a factor ;-)

thx for the advice bro...

Unlike stocks, forex trading relies more on technicals as the pace is much quicker than stocks.

If in case you do decide to trade forex, which approach will you use more? Technicals or Fundamentals?

[Negus]

on forex,

i've learn some technical analysis although mejo basic....
macd, rsi, 3 moving average, stochastic, bollinger bands, SAR, ichimoku, etc...
for fundamentals, is usually watch out for the U.S. economic calendar. right now, Bernanke is dovish on rate hikes which may hurt the dollar...
haay hirap pala!

mejo di ko nagustuhan yung PFEC, ang laki ng spread (10pips for the euro, WTF?!?!) tapos every trade may commission pa sila na 70 dollars(win or lose they get their commission) which for me, is overpriced. yun nga lang may mga agents sila na magaadvice sa iyo although sa tingin ko ang speculation ko is as good as theirs. may office din sila sa makati.

Gusto ko i-try yung FXCM (another fx broker), kaso ala silang office dito sa pinas. Only 3 pips Euro/USD and commission free. ang mahirap lang sa FXCM, ikaw bahala mag technical analysis at mag aanalyze ng fundamentals at walang agent na mag-aassist sa iyo. although these infos are available naman sa web and fxcm sends news and their own tech analysis on an almost minute by minute analysis in their news squawkbox.

ngayun hindi ako makapagdecide kung alin sa dalawang brokers ang pipiliin ko.... mejo nawalang ako ng confidence dun sa PFEC agent na kausap ko, mali ang naging speculation nila, bagsak ang dollar ngayun. as you can see on my first post, palakas daw ang dollar based on the studies by PFEC, ngayon bumaligtad, risky talaga...