Any traders from Manila, Philippines?

Discussion in 'Hook Up' started by mslee, Aug 29, 2019.

  1. mslee

    mslee

    Hello! Newbie trader living in Quezon, Manila. When I was child my nana inherited to me about 7k worth of stock, and now I want to see that use it to trade in Forex instead. But I am not sure where to start, there is so much information out there. I wanted to meet some local traders who can point me in the right direction.
     
  2. vanzandt

    vanzandt

     
  3. smallfil

    smallfil

    Forex is even harder to trade than stocks. If you live in the Philippines, stick with the blue chips like Jollibee. Jollibee is probably, going to be a good stock 10 years from now. I think it started at P8.00 then, now it is P236.00. It also, trades as an OTC stock in the US stockmarket as JBFCF. Stick to Blue Chip stocks in the Philippines. I think they will do nicely, in 10 years time. Suggest you attend Bo Sanchez seminars in the Philippines teaching about investing in stocks in the Philippines. One of his maids is now a millionaire in Philippine pesos, about $20,000 in US dollars. That is after 7 years investing in Philippine stocks.
     
  4. gaussian

    gaussian

    US Stock? Gifted from your mother/grandmother?

    And you want to YOLO it on the most fraudulent market on the planet?

    This can't be real. Leave the stock in an account you can't touch and let it grow. You live in the Philippines. Put it in a decent index fund and forget about it. Contribute a few hundred a month to it and you'll retire comfortably in a beach house in 30 years. Don't be a fool. Don't pay some scammy OTC forex broker's kid's college fund.
     
    d08, Snuskpelle, drmark27 and 2 others like this.
  5. Do you know why Nana's stock appreciated? Because she sat with her bum on that stock instead of turning it over and churning the account like a maniac. Lesson: learn from nana

     
  6. Nobert

    Nobert

    You don't need local traders, to point you in the right direction ; this forums is more than enough.

    Forex is anything but right direction.

    You need to sell that stock.

    Then buy the index and do as Gaussian said.

    Also you can choose to trade. ( more likely to blow out, loose that money pretty fast, that's what statistics suggest , 9 out of 10 people, end up their forex adventure in this way )

    Then you will have yourself a lesson for $7k ( even less, if that stock is illiquid with big spread )

    If you choose a comeback, then trade equities. For beginning, nothing bellow blue chip companies & 4 hour candles.

    p.s

    Your neighbor country, Indonesia , will move the capital, might be a chance for real estate opportunities, in the new capital.

    p.s.s

    something practical :

    https://www.elitetrader.com/et/threads/where-do-i-learn-day-trading.328291/page-2#post-4796833

     
    Last edited: Aug 30, 2019
  7. vanzandt

    vanzandt

     
  8. I would like to move to the Philippines!
     
  9. @OP: Don't do it. Take the advice of gaussian's reply. Just posting to reaffirm this. The stock market is designed to make the average person a winner (long term), the opposite is true for retail forex.
     
    vanzandt likes this.
  10. Find a broker who accepts small starting balance like $200 or so. As the others mention, do not put the whole $7k in there and expect to make a ton of money quickly. I find longer time frames are easier to trade. Scalping is very hard to be successful at it.
     
    #10     Sep 1, 2019