Tan Kin Lian's Blog: Training video on Forex Trading

Saturday, April 03, 2010

Training video on Forex Trading

Here are excellent training videos on Forex Trading.

9 comments:

CreateWealth8888 said...: I am quite surprise that you choose to post this artcile related to forex trading as I have the impression that you discourage trading.; April 03, 2010 1:11 PM
Tan Kin Lian said...: I encourage investing in a low cost investment fund for long term savings.

For those who wish to speculate, here are the good ways to speculate:

- friendly bets with friends
- casino
- futures and forex exchanges

Speculation only with the money that you can afford to lose. Enly the fun of betting.

Do not speculate on financial products that give big margins to the intermediaries, such asL:

- land banking
- capital guaranteed and protected products
- high cost financial products

All the best in your speculation or trading, but do it for fun - and do not thnk that you can make a profit.; April 03, 2010 3:02 PM
Tan Kin Lian said...: If you wish to have the fun of trading in the futures market, without staking any money, try the Pro-Trader in www.easysearch.sg (under Apps).; April 03, 2010 3:03 PM
Anonymous said...: You can open demo accounts and trade without real money if you want to try out trading forex before committing any real funds. If you can make money in trading to supplement your income or even eventually a full time job, excellent. It's a decent living and your profits is usually at the expense of the broker (Unlike stock trading which is regulated, your gain must be at the expense of another trader loss and vice versa, unless you are trading on CFD which is against the broker)

Forex is usually misunderstood as a high risk instrument. In my opinion, it is lower risk than stock trading and most business ventures. In forex trading, you can limit your downside risk unlike most business venture. In addition, you can manage the lot size and can buy or short a certain currency pair at anytime. In stocks, you can't do that. Even in CFD, many counters are not available for shorting

For more forex education, there are various financial education schools in Singapore. They cost many thousands per course but in reality, they don't teach much. I have attended many of these. Their strategies do not work. One of such school is a very reputable local one which i shall not mention name, but the entire course material was actually downloaded wholesale from a website, and it doesn't make money. Please do not throw your hard earn cash into these courses

Other more effective ways to learn forex is

(a) subscribe to e-books / strategies from the internet. These website will promise you to make millions of dollars and sound too good to be true. But the local schools will also promise you the same things anyway. The difference is, the internet e-books will costs you only a few hundred dollars but the local course will cost you a few thousands dollars!
(b) buy custom-made indicators or strategies from ebay.
(c) buy forex books from the local bookstores but they usually costs hundred dollars and above. Instead go to Amazon.com. You can save up to 60% of the listed price in Singapore, and the contents are exactly the same

Jerome; April 03, 2010 5:17 PM
Anonymous said...: mr tan do u trade fx market yourself?; April 03, 2010 8:05 PM
CJ said...: Thanks.

an advise to those who wanted to speculate in forex.

be absolutely sure of what you are doing before you dumping in the big sum.

i started with demo account and small sum of $200, and left only $10. Picking up now as gain in experience; April 04, 2010 8:30 AM
Createwealth8888 said...: Leverage is a double-edged sword and can kill faster than expected.

Forex leverage can be as high as 200-400 times. This is why it is so risky and there is very little margin for errors.; April 04, 2010 9:13 AM
Tan Kin Lian said...: Reply to 8:05 pm

I do trade on the forex and futures market. It is fun, but not a place to make money. It is like visiting a casino.

However, I know that the cost of trading is low and the trader has a choice to go long or short. It is better than speculating in the stock market or in the foreign currency market.

The worst type of investing is to buy high cost financial products, which are guaranteed to give the investor a poor return (while giving a fat margin to the financial institution).; April 04, 2010 9:54 AM
Anonymous said...: Dear Friends, in my post on day trading, I had indicated that it is crucial to first learn and understand the "trade". It is my opinion that all markets are manipulated in one form or other but the trick is to understand and learn what these "manipulators" are doing.

That would need time and experience. So please spend some time in learning the technical and some decent knowledge on fundementals.

Learn to reduce the odds against you, as one trader has said there a 3 things you can do in the markets, You can Buy, sell or do nothing, so bring your odds up to 66%!

Start off with a demo account... for a few months.; April 05, 2010 12:13 AM