Forex Philippines Mailbag: Answering Your Questions

During the past couple of weeks, I have received a couple of emails asking if I offer mentoring classes or if not, any recommendations for a forex mentoring or seminar.

Forex Seminar

As of this moment, the only mentoring I offer is the free forex course which I add lessons every couple of weeks. I realized that a lot of people are asking so I made an online lesson for it and to help a friend of mine. If that happen to be a worthwhile pursuit I may offer something like a real seminar in the future. But for now, I am enjoying my travel and a no hassle approach to trading.

Recommended Seminar

I will be blatantly honest… In this industry where most people make money not by trading, but offering seminars, its hard to really find a legitimate mentor who will teach you what really work. I don’t want to name names, but honestly, the seminars that are being offered here in the Philippines at the moment are found online for free. You don’t have to pay P6,000 for a 2 hour seminar on how to use a trading platform or how to interpret if a chart is going up or down… There’s a lot of sources for that already. I know it could be kind of hard to search for a mentor especially if you’re new. And I understand that, I have been there. But keep going for this is a worthy pursuit. What you need is to be reading books. Not looking for someone to teach you how to use a trading platform.

  • omnispective

    Hi again forexphil,

    What setting do you use with Ichimoku? Do you use the default 9, 26, 52 setting? I’m not sure if you use OANDA, but why does it use 7, 22, 44? Is it another reliable setting?

  • ForexPhil

    Hello,

    Because by default, I think OANDA includes 2 weekends (Sat and Sun) on its charts. So that alone will mess up the indicator because it added 2 more bars. So the default indicator for them is 7 instead of 9. I use the default 9, 26, 52 and then removed the weekend bars.

  • omnispective

    Oh, I see. So if I remove the weekend bars, I’ll set them to 9, 26, 52? And if I don’t – stick to 7, 22, 44? Would it affect the ‘accuracy’ of the indicator?

  • ForexPhil

     Yeah. It does. I’ll go with 9, 26, 52 and remove the weekends.

  • Bernard Tan

    I’m a little confused. This was just posted 3 days ago but the date on the comments goes back 5 years ago. Can someone kindly explain. Thank you.