Malaysia Watch Forum
Off Topic => Investment & Real Estate => Topic started by: Isaaclimyh on January 20, 2015, 09:51:04 PM
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recently there's this huge trend of forex groups everywhere to be seen, how sifu sekalian view on this?
I know some friends that trade forex for a living, is this a legit path to hop on?
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Forex is very risky. U need a large capital back up or dont play at all. One second can cause a large loss/profit difference.
Those groups, usually are scams.
AFAIK, there are some trading houses in other countries which has developed a specialized AI system where they can trade Forex faster than humans. Itll be hard to beat them.
Just my two cents.
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Forex is no wrong, people that doing it can be good/ bad. :Cheers:
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I personally think you should stay far away from Forex. Don't risk it.
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I went into Forex for awhile. In Forex, you must know when to go in and when to get out.
As with all investments done through private banking, the banker will need 24 hours to execute your orders.
So, it is usually too late to sell when the money is on a downward trend when you factor in the bank commission, processing fee and 24 hour delay in executing your sell order.
Forex trading is not for the faint of heart. I would suggest you get yourself a good private banker to help you manage if you want to go into Forex.
I got out of it because I found the risks outweighs the gains. It's better to put your money into government bonds or other mid to long term investments.
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According to FOREX is very risky as it needs lot of funds to invest in. And God is best so you refer the gold trading or stock trading. As in forex you can invest from all around the world. :)
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Might as well bring your money to Genting or Marina Bay Sands....
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So many products out there (DCI, Physical, Leverages FX). As long as you pick the right product and play with the large money flows, you should be fine. Gambling in economic datas is the fastest way to die. For those into physical, you need to make sure the currency generates a yield for multiplier effect (Overseas property, stocks/bonds). Also, dont let your banker see that you have foreign currency idle they will always try to make you swap currency using DCI.
For e.g. i sold MYR last year June and bought USD. Everyone already expect US to increase interest rate will cause a multi year trend reversal of Emerging Market currency and short MYR and long USD & US stocks was really a no brainer.
Currently RMB is considered undervalued. If you have a long investment horizon, it looks very safe as well.
other stuff such Euro stocks also quite safe.
Anyway, am not a Forex trader but rather something i picked up while managing my portfolio. So do consult your licensed investment advisor before taking any Forex position.
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So many products out there (DCI, Physical, Leverages FX). As long as you pick the right product and play with the large money flows, you should be fine. Gambling in economic datas is the fastest way to die. For those into physical, you need to make sure the currency generates a yield for multiplier effect (Overseas property, stocks/bonds). Also, dont let your banker see that you have foreign currency idle they will always try to make you swap currency using DCI.
For e.g. i sold MYR last year June and bought USD. Everyone already expect US to increase interest rate will cause a multi year trend reversal of Emerging Market currency and short MYR and long USD & US stocks was really a no brainer.
Currently RMB is considered undervalued. If you have a long investment horizon, it looks very safe as well.
other stuff such Euro stocks also quite safe.
Anyway, am not a Forex trader but rather something i picked up while managing my portfolio. So do consult your licensed investment advisor before taking any Forex position.
care to share how you buy and sell the forex? via bank or?
my fren who do forex trading, i see him do it like a day trader. what i am thinking is to get some aud while it's low but what is the vehicle to do it? go money changer to change and keep under pillow?
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Depends if you want physical delivery of the currency. Those day traders are usually leveraged 50x/100x/1000x and cannot take out physical money as it's ultimately settled in USD. If you want to be able to physically touch the AUD in your case, you can start by checking around with the local private banks. They have this product called DCI and would be the best person to advice you. But do note that they require the potential client to be of certain wealth before onboarding a client.
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Go read babypips.com. Forex is not scam. U just need to be very discipline and very focused.
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i heard about forex, people talk about forex, i have no idea what forex is
i think i'm not destined to get rich from forex
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Go read babypips.com. Forex is not scam. U just need to be very discipline and very focused.
well, it's definitely not a scam but it isn't protected by our government. if the company where you park your money for forex trading run away, it suddenly become scam. i dont mean those company will run away but the chance is always there.
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Depends if you want physical delivery of the currency. Those day traders are usually leveraged 50x/100x/1000x and cannot take out physical money as it's ultimately settled in USD. If you want to be able to physically touch the AUD in your case, you can start by checking around with the local private banks. They have this product called DCI and would be the best person to advice you. But do note that they require the potential client to be of certain wealth before onboarding a client.
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noted. i guess i am not their potential client then.
i explored the forex saving acccount.....but still, the physical money that go in and come out will be converting to RM. what i wish is to have the physical money to prevent multiple conversion.
may be put under pillow is the only choice here.
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Look like money changer is more suitable for you. :thumbsup:
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Forex future buy & sell via online/through forex broker is gambling indeed. If you want to buy forex as investment, buy physical notes in money changer and keep in safe deposit box.
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I can become ur atm machine once u grab the rythm of trading ;)
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Honestly, these so called traders was really up to the knowledge to know how to trade?
did u really not to worry when you hand your money to a group of people who:-
1)Doesn't understand how the finance works. (i.e. any events that could cost a currency's value fluctuate)
2)Only know to talk how they trade with the technical charts only
3)Some trader will taken up your X0% of your capital as commission
4)You will awe on the picture they showing you that they are like living luxuriously but this is a way they convince you to put money to them.
P.S conned by a "friend" before
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Honestly, these so called traders was really up to the knowledge to know how to trade?
did u really not to worry when you hand your money to a group of people who:-
1)Doesn't understand how the finance works. (i.e. any events that could cost a currency's value fluctuate)
2)Only know to talk how they trade with the technical charts only
3)Some trader will taken up your X0% of your capital as commission
4)You will awe on the picture they showing you that they are like living luxuriously but this is a way they convince you to put money to them.
P.S conned by a "friend" before
any investment of business also same
if it is not sustainable itself
then most probably its con job!
guarantteed return ! ( if you can find me )
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I have one friend who teach people with all these forex stuff. He basically teaching new people who interested in Forex. He already in forex for a long time mybe 5 years, not sure. But he told me that even though he knows a lot with forex trading and etc but he still didnt have guts to invest in it. Teaching is another thing.
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Forex is a zero-sum game, meaning one person's gain is another person's loss, and vice versa.
And when you trade, you trade again the biggest bank-backed traders in the world.
The chance of you winning from betting against them is smaller than betting against casinos - which is already very low.
Best to stay away!
Note this is Forex trading done by yourself. As for Forex trading managed by a third party...that is a no-no. These are mostly scams.
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forex is nice.. is just the way how those people marketing it.
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personally i won't in for an investment like forex. don't get me wrong, but i think investing in watches like Pam and Rolex have better prospect for future (and better lifestyle too lol).
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Forex is a very high risk.. but high return.. u will overwhelmed with lots of method.. the only method that I use is vased on rsi.. 10-90.. and at 30 minutes time frame
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going through a bank or secured platform will be good