learn Forex Trading here in the Philippines

@ichipink (342)
Philippines
March 4, 2012 3:00am CST
I've seen a lot of websites out there about forex trading. And had been wanting to learn all about since then. I have learned that there are countries that are into it and that some has even helped in improving their economy like Singapore. It's a multi-trillion business per day! And that made me really crave for it. But the problem is it's so hard to learn about it through the internet. I have hoped a lot on finding a center or something here in the Philippines where I can learn locally. Good thing I met this guy who do Forex Trading as a way of living. And he's willing to teach us about how he does it. Well, he ask for a small fee but I know it's worth it. Since then, we've been trying to create a community of traders here in our locale. Hope it turns out well... Have you also ever wish that someone near your place can teach you about forex trading? I hope this opportunity could help change our economy too.
1 person likes this
9 responses
• Philippines
5 Mar 12
I don't think forex trading companies can be granted the license (or right or privilege or whatever you call it) to operate in the country. I don't think that SEC permits such businesses to operate. This is one of the reasons why you could hardly see local establishments who are into forex. As what I read somewhere online, the country is not yet ready to engage in such a kind of market. If you happen to see local companies who're into forex, it may be that they just registered their business (to BIR or DTI or something) indicating that they are into asset management but the main operation of doing forex trading is done by an overseas partner. So in that case, they can be granted permission to operate. But the government will see them as someone who is only doing mutual funds, bonds or stock market trading which are all currently permitted in the market. Unless SEC has recently revised the rules, you need to watch out if they say that their main product or service is forex trading.
@ichipink (342)
• Philippines
19 Jun 12
Hmmm... It's sad that the Philippines is not yet ready for it. If I understand you correctly, you're right that the operation is done overseas. Our CEO is dealing as of now with a foreign broker. But at least it could still help our economy. If there are a lot of good traders in the Philippines, it could mean we're bringing in more dollars in the country... am I getting it right? Sorry... I got a bit confuse with SEC, BIR, & DTI stuff...
@succeednow (1638)
• Singapore
4 Mar 12
Hi ichipink, Yes forex trading is a multi-trillion dollar business a day and it looks very tempting indeed to get involved and hope to profit from it. But please approach it with caution as 95% of new forex traders lose money. You will need to master skills of forex trading and that takes time and commitment. Hope you find success in your undertaking.
@ichipink (342)
• Philippines
19 Jun 12
Thank you succeednow for your warning. You're right that it is a very risky investment. That is why I am patiently learning the techniques and strategies in reading the charts. Until now, I am still on practice trading. But I really want to earn from Forex so I let my friend, who already have enough knowledge & experience about it, do the trade for me.
@beamer88 (4268)
• Philippines
4 Mar 12
I think there are seminars and trainings on forex but even those have fees that you have to pay, and they're not that often held so it's good that you met someone who could personally teach you even for a fee. I'm not much into trading and investing of forex for now. My finances are barely enough to feed my family . I have actually friends who work in trading companies. I haven't asked them if they could spare time to teach me. I hope they don't charge me if and when I do ask for their help.
@ichipink (342)
• Philippines
19 Jun 12
There's no harm in trying to ask them for help... :) But maybe our CEO can also help you. This guy I've been talking about is kind of launching a Forex & Stocks Exchange Training for Pinoys. They're also kind of putting MLM on it. It's still on the building process. But if your interested, maybe I could update you as soon as they start the trainings.
@ichipink (342)
• Philippines
19 Jun 12
By the way, if you want to earn some extra income, maybe you should try and venture on investment programs. There are sites that you can invest with at a low cost. You can invest some of your spare money with it and in time, it could become another source of income. The good thing about these programs is that you don't have to put a lot of effort (like finding referrals)in order to earn. After you invest, you can just leave it to grow or check it from time to time. Some sites even offer compounding options which helps your capital grow faster.
@bigbiz (65)
• United States
18 Mar 12
i dont know about that forex trading.. but had joined investment program called justbeenpaid , this is the best investment site that i ever seen over the net,, the most profitable .they paid me 2x,. view my site at my profile..
@ichipink (342)
• Philippines
19 Jun 12
Yes, JBP really has a good investment program. I am also a member of that site and other HYIPs. If you'd like to check other websites like JustBeenPaid, you could check my profile page. I know a site which allows you to invest for as low as $1.00.
@SinfulRose (3524)
• Davao, Philippines
5 Mar 12
Even though I wish to invest, I am not into gambling like Forex Trading. As the name states, it's a Foreign exchange of money. Depending on one economic status, the amount of a certain currency can change. For me Forex Trading is a gamble because I don't know yet how to read the charts and even if I do, I doubt I would wish to get into there without an asset to support the investment. I would wish to know forex trading. But I do not wish to stick with it for as long as I live. Happy MyLotting!
@ichipink (342)
• Philippines
19 Jun 12
I see... I understand, even if we don't share the same opinions about Forex. You think it's too risky to put your money in something that you don't have control of the outcome. Forex could really be that scary if we don't understand it's technicalities.
@airasheila (5460)
• Philippines
5 Mar 12
good day ichipink, with reference to your main topic, i am also considering myself investing in forex trading. where in fact, i have contacted my friend last friday and asked her regarding the procedure and mechanics of it. aside from that, i am also thinking to enter into a stocks business. as i am really aiming to have more ways on how to earn that much.
@ichipink (342)
• Philippines
19 Jun 12
It's good that you are investing on both forex & stocks... Hope you get good gain from it. If you're friend is well experienced at forex, she'll definitely give high returns. Have you heard about HYIP websites? Maybe that might interest you too.
@shadjee1 (604)
• Philippines
5 Mar 12
Its nice for you to find someone who can teach you about forex trading. Studying it over the internet is really hard. I did find it hard too. Though I have read some books already and found someone who can teach me stock exchange about local stocks but not forex. Well, good luck to you and hope you can teach me forex trading too .. :)
@ichipink (342)
• Philippines
19 Jun 12
Thanks shadjee1! In time... I will also help you if you're really interested at forex. It's good that you are also learning stock trading. Maybe you could also teach me about it. :)
@modstar (9616)
• Philippines
4 Mar 12
My friend at work is into Forex Trading but i think he's also new to it. He told me about investing in Forex and that i should try it out. I was a little busy that time so i really didn't bother to go into details with him about it but i will get back at him as soon as i get things in order at work.
@ichipink (342)
• Philippines
19 Jun 12
Yes, you should really try it. It might become your secondary source for income. How was it for your friend? Has he become good at it? Has he been earning from it? I know it's very tricky & risky reading the graphs... I'm still learning how to predict when the charts will go up or down.
@jlamela (4909)
• Philippines
25 Jun 12
I am also looking more information about investing into forex trading. I am interested in this type of investment, hope I can find enough info and tips how to get started with forex trading.