Updated: August 7, 2012
Forex or currency trading is not very popular in the country.
In fact, there are only a handful of companies that offer forex seminars to Filipinos.
Sadly, some of them try to mislead people that forex trading is easy, and anyone who knows how to use a computer can make money from it.
I’ve attended a seminar like that, and so did a couple of my friends – and it’s really disheartening to see that some people can easily get disillusioned with making a quick buck, that they totally disregard the fact that currency trading is a high risk activity.
Fortunately, there are still some who don’t “sugarcoat” the realities of forex trading. They’re the people who are brave enough to tell you that you can lose a lot of money in currency trading, specially if you don’t know what you’re doing.
A few months ago, I’ve partnered with Businessmaker Academy through Mark So, to bring his Forex Orientation Seminar to you, my readers.
This partnership happened after I became a member of Forex Club Asia – and personally concluded that Mark’s probably the best guy to learn forex trading from in the country today.
Because one, we share the same beliefs when it comes to personal finance; and two, he’s that type of guy I mentioned who will not mislead you to believing that currency trading is a get-rich-quick scheme.
Thus, my partnership with him continues until this day as I believe what he offers is something that can benefit a lot of you who can afford the risks of currency trading.
In the past months, a lot of you have been sending emails asking me about the forex orientation seminar. I tried to answer all of them as timely as I can, but I have to say that it can sometimes get overwhelming.
Thus, as a special edition of Reader Mail – I’m sharing with you below some of the most frequently asked questions about the forex orientation seminar.
I hope these can answer some of the questions you have in mind, and likewise give clarity to what you can expect when you attend it.
I don’t know anything about forex trading, should I attend this seminar?
Yes! The seminar is actually geared towards people who don’t know anything about the forex market.
The two hours is spent on appreciating and understanding how currencies are traded, and how one can make money from it.
Will I be able to learn forex trading after the seminar?
That’s a yes and a no. Yes, you will learn how currencies are traded, and how people make money from it. And no, you will not learn how to trade forex, step by step, during the seminar.
The real purpose of the seminar is to orient you about this type of income activity, and guide you in deciding if this is something you’d like to do and learn more about.
If I will not learn how to exactly trade forex in this seminar, then why should I attend?
Because the seminar provides a good introduction to currency trading.
Indeed, you will not learn how to actually trade forex – you can’t learn that in two hours, and even if the seminar was extended to four hours, that time is still too short to teach you everything you need to know about currency trading.
However, by the end of the seminar, what I can guarantee you is that you’ll have a better understanding of the forex market, and more importantly, you’ll know if currency trading is something you’d like to pursue.
Furthermore, you should know that the lessons never really stop after the orientation – as you’ll actually be given the necessary next steps on how to learn further.
This includes literature and instructions, that will be sent through your email, on how to set up a demo account with a forex broker, so you can try your hand at trading currencies using virtual money.
And of course, there will also be offerings on “next-level” classes which you can enroll in should you want further guidance from Mark So on forex trading.
How much do you need to start trading forex?
This depends on your forex broker. Some allow you to start with as little as $20, some $50. But personally, I believe it’s best to start with $300.
Aside from the fact that it’s the amount that Mark So recommends, I’ve discovered that $300 is just right to get good leverage while avoiding close margin calls.
One word of advise though – don’t open a live account and trade forex with real money until you’ve spent time trading with a demo account using virtual money.
Trading forex successfully is more than just knowing technical and fundamental analysis – a part of it also involves developing a personal strategy that works for you – which you’ll learn by trading with virtual money.
Do you think forex trading is for me?
I think it’s only you who can answer that, but attending the Forex Orientation Seminar can definitely help you in your decision.
And just in case you’re up for more reading, then maybe you’d like to read this article of mine too: Do You Have A Future in Forex Trading?
This concludes today’s special edition of Reader Mail. I hope I was able to answer some of the questions you might have about the forex orientation seminar.
If you have other questions, do post them below as a comment and I’ll answer them as soon as I can.
Also, if you’re interested to learn about forex trading and attend this seminar, then please visit this blog’s official page for the Forex Orientation Seminar HERE or simply follow the banner below: