I have been receiving a lot of emails lately from people who are interested to start forex trading. I apologize if I can’t reply with your emails, I’ll just post it here in return so people can see.
1. Recommended Websites to Learn Forex Trading
The only recommended website I could point you to in learning forex trading would be babypips.com. All the basics and intermediate materials that you need to know are there.
2. What are the Systems Used in Forex Trading?
There are quite a lot of systems in forex trading and I can’t explain all of them. The best way to use a system is to know yourself. If you are a risk taker and restless, try day trading forex using candle sticks. If you are a steady investor, try fundamental analysis using macroeconomics. If you are in between, try swing trading. I can not stress this enough, know yourself and then pick your poison.
3. Where to Get These Systems?
These systems range from robots to pure strategy. Where else can you find them? Bookstores. Go over to amazon and search forex trading systems and you’ll find yourselves a lot to choose from. Also, finish babypips.com for an introduction to different kinds of systems and pick one you think you like best.
4. Is there a Short Course in Forex in the Philippines?
For what I know, forex trading in the Philippines is at a very infant stage. Just look at our stock market, not even 10% of the population invest in it. So don’t expect much for short courses in forex. I believe there are some companies out there that does this and some gurus teaching the basics. But then again, that’s what babypips is for.
5. What is the best way to learn forex trading?
I think the best way to learn in ANYTHING is just go out there and do it. Demo trading can only get you so far. Without real money on the line you can not feel anything. Emotion is part of forex trading that you want to master, demo trading won’t do that and only a live account can.