Risk Warning

Forex Trading on margin carries a high level of risk, and may not be suitable for all traders. The high degree of leverage can work against you as well as for you. Before deciding to trade forex you should carefully consider your trading objectives, level of experience, and risk appetite. It is possible that you could lose some or all of your initial capital and therefore you should not trade money that you cannot afford to lose. You should be aware of all the risks associated with forex trading, and seek advice from an independent financial advisor if you have any doubts. Having said that, anyone with a sound mind can trade Forex but he must be aware of the risks involved as highlighted above.

Monday, June 22, 2009

Maid Miriam does Forex!

Hi folks I'm now back and I have not met Robin Hood and Miriam during my holidays!

OK it is actually Mirriam, Mirriam MacWilliams to be exact. You know she is the lady who is a guru in Options trading and conducts classes with Wealth Mentors locally. I was at one of those free Forex previews the other night and I was surprised that she is now into Forex as well. If you need any proof that Forex Trading is the instrument of choice for trading, this must be it. In fact, this was not even mentioned in the advertisement that the Forex course will be conducted by Mirriam herself, maybe not to detract from her Options Trading courses.

Anyway, some details on the Forex course on offer by Wealth Mentors. The preview was conducted by Albert Seah who gave (IMHO) an over-simplified view of Forex trading. This is in line with the course where the emphasis is on simple rules; no complicating indicators or technical analysis, no news analysis, no software, etc. From the preview, it did show examples of winners using candlestick charting so my only guess is that it would be using trend as the main guide to enter a trade but I could be wrong.

It is a two day course (Sunday and Monday) and the list price is RM6997 and after all the usual discounts and special promotion, it comes down to RM4997. It comes with 3 months mentoring but still seems too much for just two days. It may be good for the very non-technical but how effective it is is left to be seen but there are plenty of winning trades by Mirriam on show and some positive testimonials in the ads.

It would be good for those who have attended this course to give their comments so that others can learn if this is worth the effort and the money.

Ronald Kwok