Forex broker ph

I am not sold in the idea of forex seminars that are being offered here in the Philippines. I have not attended any forex seminars. Nor would want to attend one. Not unless seminars are conducted by market wizards. But thats unlikely to happen.

I believe that learning trading your own way and research on books is still the best way to learn. No one to take your hand and tell you to buy or sell. A business where people who think differently against the crowd are rewarded with fortune.

What good does it make if people conducting the seminars will tell you how to copy his trades. I realized that its not important how much money you make in this business. Because what attracted me to forex trading is the risk and the intellectual challenge of trading. Maybe its time for me to add another goal. Sort of like how Benjamin Franklin acquired the different traits he wants to have. Practicing each trait like, discipline and patience, not succumbing to fear and greed, are what I would really like to master more than earning a lot of money in forex.

Forex backtesting is the process of going through charts from previous years, weeks or days to confirm the effectivity of a system. Simply put, you look at past charts to know if your system worked well as you predicted or failed.

Every new and experienced forex trader do backtesting because it allows the trader to gain knowledge and confidence on his system and make necessary tweaks and rule to find the system that works for them. Most forex companies will let you view at past charts or even download them, where you can mark using pencil and paper and trade by looking at one bar at a time simulating a real trade session.

There are forex software that will do this for you. One is forex tester. Well, I think, its the only back testing software out there. Either the forex brokerage company has a feature or not, you can either trade manually or demo trading. Demo trading can be long and tiresome.

Using a back testing software, you can instantly test your strategy because you can control broker time when each bar will appear. Whatever method you take, always remember to test your strategy before trading broker. Either by backtesting, paper trading or demo trading. You must gain full confidence on your trading system. This is was my last trade on USDJPY. If it does make and close into a new high.

Forex Backtesting lesson is now out on our forex trading course. As far as forex trading goes, every trading system has their own rules forex entry and exit, their money management and risk and rewards.

But system rules, entry and money management are the easiest part of the system. Clicking that exit button might seem like a Herculean task of discipline and strength.

Most people breakdown at this point and fall into the abyss of self-denial, thinking that the market will eventually comes back and recuperate their broker. But the market never did come back and his trading account, vanished. When you see a trade, focus on the exit rather than the entry.

They become obsessed at proving themselves that they broker right. You should do the opposite. You should always try to prove yourself wrong and always look for the exit rather than the entry. Know beforehand that your exit will be profitable and you have won that trade even before you make it. But the forex of those trades will certainly increase. This is probably the hardest action broker take for a losing trade. While newbies will try to hold on to the trade wishing forex the market broker bounce back.

There are probably another school of thought when it comes to this strategy. The market does not go in a straight line and they wait for it to bounce back even for a little. Forex is perhaps true. But I would rather end it now than to hope that the market will come back for me. Being wrong twice in a single trade could be the worst feeling and it could harm your future trades. All in all, it all goes down to the amount of money in a trade.

Demo trading is fun because the money used is not real. And so, every losing trade in a demo account forex nothing to you. Risk only the amount of money you are comfortable with. You need to have a good money management strategy on top of forex trading system. This is different for every people. I just kill that losing trade and move on.

Whatever you do, losing trade is not a good feeling to have. But remember that forex trading is a business and should be treated as such. The past week has been a very good week. Did we make money? I got the chance to ride the market movement of more than pips on the EURCHF. And right on the spot, predicted its movement a week prior from the forex analysis week 1 post. I bought an iPad 2 for myself to reward myself of a job well done.

I will post some pics when it arrive. I tend to trade well watching tv and I made all the profits while lying in the couch trading in my mobile phone. But mobile trading made my eyes hurt because of very small letters. It moved quite dramatically downtrend for daily. You may take profits now if you want to be on the safe side for daily trades, forex it might pullback to test the resistance. We could see another downtrend for another week. Downtrend on daily for breaking the strong support at 1.

It is a good indication of an incoming downtrend on weekly. Monthly is still unsure. Might be a pullback. Its is downtrend for daily and weekly. But be careful holding the position for too long. Seems like there is a resistance on 1. It might also be a sign for a pullback because the market have moved quite dramatically on daily.

On weekly, it is now an uptrend. We are still not sure if it will pullback or not. Monthly is definitely an uptrend. I would go long for the long term on EURCHF. Since monthly signal is telling us a great uptrend coming. Enter at your own risk. There is a breakout on daily. Even if EURCHF is directly proportional with USDCHF, this currency pair instead of pulling back, remained to go strong.

There might be a window of opportunity here. Daily is in an uptrend. Weekly broker definitely an uptrend. This trading journal is meant to be for educational purposes only. Please do not take these as trade recommendations and I am not responsible if ever you lose money in the forex market. All the odds were in our favor. At the beginning of the week, we anticipated a breakout actually, its 2 weeks before. Well, it did went up but it seems that many are still shorting the pair.

The interesting thing here is that the Swiss government expressed their willingness to intervene should the pair forex around 1. It might be a great idea to go long and build up the position as you go.

Keep in mind that before a trend reverses, there might be a consolidation… This move up that we are anticipating, may be preceded by consolidation first before it moves up, or it might continue to go down some more before it moves up.

Keep your stop losses tight and be flexible enough to know if you are wrong. I have been wrong a couple of times, so same thing goes here… Trade at your own risk. This is what I think while I opened the trade in EURUSD. It has proven to broker an effective strategy.

As you know, a flat line in a kumo cloud means a strong resistance. While I also drew my own resistance lines, Ichimoku confirmed that it indeed has a high probability that it will not break. So I bet more. The resistance at 1. Look at the candlesticks lining up in a straight line. I bought a new computer from the profits I made on this trade.

I took some of the broker and bought this laptop and all the remaining gets reinvested. Its a great laptop. Though I made profits from the last trade. Because I was betting really big in a business of probabilities. And I know that in time, the probabilities might hit me. I will try to lessen the risk now and be content with making money consistently in a safer way than to bet big forex hard and have big returns but have big drawdowns. Leveraged trading may not be suitable for all investors, so please ensure broker fully understand the risks involved and seek independent advice if necessary.

Forex Philippines Forex Trading Philippines Learn Forex Trading Search. Skip to primary content. Skip to secondary content. Forex Philippines About How To Trade Forex Brokers Social Trading Contact. Posted on July 1, by ForexPhil. Posted on June 30, by ForexPhil. The only problem is how…. Posted on June 29, by ForexPhil. Forex Backtesting Software Most forex companies will let you view at past charts or even download them, where you can mark using pencil and paper and trade by looking at one bar at a time simulating a real trade session.

Happy weekend you guys. Posted on June 28, by ForexPhil. Avoid Losing Trades by Concentrating more on the Exit When you see a trade, focus on the exit rather than the entry. Immediately Close a Losing Trade and Move On This is probably the hardest action to take for a losing trade. Never Risk Too Much Money All in all, it all goes down to the amount of money in a trade. Forex Analysis EURUSD It moved quite dramatically downtrend for daily. Get into downtrend trades. Its a good opportunity to go short.

EURJPY Its a breakout downtrend on daily. Breakout downtrend on weekly. Still a downtrend on monthly. Go short trades because its telling a very strong downtrend. AUDUSD Downtrend on daily for breaking the strong support at 1. EURCHF Seems like there is a resistance on 1. USDCHF There is a breakout on daily. I would go for uptrend trades on this currency. Disclaimer This trading journal is meant to be for educational purposes only.

Posted on June 27, by ForexPhil. EURUSD 8 Hour Chart All the odds were in our favor. Right now, we are looking for a clearer price action. Posted on June 26, by ForexPhil. Lesson Learned Though I made profits from the last trade.

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