Introduction to the Forex Market

What is Forex??

“Forex” stands for Foreign Exchange; or some call it FX. During a forex trade, you sell one currency and you buy another. Consider you travelling to Australia and you want some dollars. What you essentially doing is selling PGK and Buying Australian Dollars. That exchange is over the counter market. These exchange has been extended also over the phone and internet and occurs almost every single day.

Foreign currency buying and selling is now a really big business with over US$4 trillion traded on a daily basis. This is how much money being traded daily in the world’s financial market. These processed of buying and selling of Foreign Currency has been decentralized and is now offered to registered financial institutions (brokers) who intend makes it possible for ordinary citizens to trade foreign currency in the comfort of their home.

forex

Why trade Forex?

Exchange between two countries happen every single minute throughout the world. Financial institutions actively involved in Foreign Exchanges. When there is a demand for Australian Dollars, the value of AUD increases, when there is less demand for Japanese Yen, the value of YEN decreases.

With the rise and fall of currencies occurring almost every single, traders can easily buy a AUD$, then sell it in the next 5 minutes, 30 minutes, 60 minutes to earn a profit. The buying and selling of the Foreign Currency makes it a very fast turn-around time to make a profit. Off course, no one knows if the price of AUD will keep rising in the next 30 minutes or fall. Therefore, there is an element of risk associated with FOREX trading.

How do you trade Forex?

Forex trading is usually offered by Registered Brokers. These brokers offered their trading platforms for individuals to use.  Top forex brokers excel in a variety of areas like trade execution, real-time access to prices and charts, and educational resources. Most brokers have several platforms, including those that are highly specific for automated and algorithmic trading. Some of the largest factors that come into play when selecting a forex trading platform are your individual trading style and experience level. Well-rounded forex platforms will have the most flexible solutions that enable you to trade and manage risk from any computer or mobile device.

Here is a list of some of the FOREX BROKERS

  • UFX Markets
  • InterTrader Direct
  • IG
  • 3D MarketsForeign Currencies
  • FXCM
  • com
  • ETX Capital
  • FxPro
  • com
  • Plus500
  • Alpari
  • City Index
  • Spreadex
  • eToro
  • Easy Forex
  • Saxo Capital Markets
  • SpreadCo
  • Capital Spreads
  • com
  • Thinkorswim
  • MB Trading
  • TradeKing
  • And many many more

Our new article will be on find a broker

Day 2 – Day Trading for non-Day Traders

After my initial post yesterday, a friend of mine on google plus email to say she is interested to know what I am writing about but she has no idea what Day Trading is about. So this article I will attempt to simplify Day Trading as much as possible.

Day Trading is similar to Stock Brokering.

A Stock Broker buy and sell stocks/shares on the Stock Market. He usually buy and wait for a longer period of time before offloading it to make a profile. Time frame can be from a week, a month, 6 months even years before he sells.

A Day trader usually does all his buying and selling within a day or when the stock market opens and closes with the 8 hour period. The profile may semarket5em small, but if you dealing with large sums of money or making a lot of trade within a day…..it could turn out to be a handsome amount.

It is not difference to an umbrella seller on the street selling umbrellas he bought in a shop. But resells it with a markup during a rainy after. The concept is the same. Buying at a lower rate and selling at a higher rate to make a profit.

What do Day Traders buy or sell??

So you ask me……what so demanding the Day Traders can buy or sell continuously in a single day?

Day Traders like Stock Brokers trade financial instruments. These stocks, options, currencies and some futures contracts such as equity index futures, interest rate futures and commodity futures. These financial instruments are traded every single working day except the weekends.

But for the purpose of this exercise and our learning, we will focus only on one financial instrument which is currency. We will study and attempt to buy/sell Foreign Currency or FOREX for short.

Thanks all for today………tomorrow we will look at what foreign Currency (FOREX) is and why a lot of traders like this market.

Day Trading for Non-Trader

I have decided to do another career change and be a Full Time Day Trader. This has come about after a few months of soul searching and I wanted to do something along where my strength lies.

I studied Applied Econometrics for a Master’s but I haven’t applied anything of what I have learnt intforex3o my career. I sort of deviated from it and started doing something far from what I have given 20 years of my life towards.

So inspired and realigned …….. I want to get back on track after losing almost 10 years of my life doing something that’s totally out of my league.

So if you are interested in Trading Forex and becoming a Day Trader, I hope that I can inspire you as well and write these HUBPAGES for a Non-trader. I have decided to focus my HUBPAGES and write on Day Trading as a Non-Trader in the hope that I can bring value to those millions out there who havn’t had any idea of what Day Trading, Forex, share markets is and wants to start making money on their free-time.

While I write these HUBPAGES, I must point out that I am fully employed as well. It is my hope that by writing these HUBPAGES, I could at least walk through with you the basic principles of Forex Trading.

I hope I could document my success so non-traders can emulate

Cheers to the First Day!!

DAY TRADING:

According to WikiLeaks, Papua New Guinea was described by the US Embassy Officers and Australian Officers as “dysfuntional blob”

While this may impact PNG-Australia relations, I don’t think the PNG Government wants to worry about that at the moment. We all know the views from Australia and US will never change. Jumping up and down just because someone call me FAT will not change their views……I just must prove em wrong!

Similarly, the PNG Government shouldn’t burden itself on name callings but should conduct itself in high regards. Let children play their games of name-calling!

———————————————————————————————————————————————

Papua New Guinea’s public service was a “totally dysfunctional blob”, while its political institutions are incapable of producing leaders who would work in their nation’s interest, according to US diplomatic cables released by WikiLeaks.

Prime Minister Sir Michael Somare is painted as a leader who sidelines MPs with integrity and dishes out jobs to his favourites, including his son Arthur, whom he appointed a government minister.

In a cable dated April 2006, the US embassy notes that Sir Michael sidelined three of his most effective cabinet ministers, who could have been expected to resist irresponsible moves to pass out favours.

“To not mince words, the pork has hit the fan,” the cable said.

It said trying to getting business done in a lead-up to an election in PNG was “always hard”.

“Somare has freed himself from inconvenient checks on his ability to wheel and deal,” it said.

“These events just confirm that PNG’s political institutions are still a long way from producing national leaders with incentives to work in their nation’s interest.”

The cables also noted comments from Australian embassy officials in June 2007 who described generational change in PNG as a “false hope”.

“Other Australian officers described the PNG public service as a totally dysfunctional blob that is great at planning but appalling at implementation,” the cable added.

A July 2006 cable said PNG was steeped in traditional magic and ignorant of modern economies.

It said Papua New Guineans were easy marks for Ponzi schemes, which proliferated throughout the country.

It said with an election looming the politicians were “dusting off their bottles of snake oil”.

The cables said the government had presided over the closure of health centres and schools, the collapse of effective policing and a steady rise in crime but there would be little mention of this during the campaign.

“Instead the themes will be the ageless one of which clan/village can get its man into government and reap the benefits thereby.”

 http://news.ninemsn.com.au/national/8294107/png-a-dysfunctional-blob-us-cables

Sir Michael Somare returns to Papua New Guinea today!

This is almost 3 months after he was hospitalized and given leave by Parliament to undergo and urgent medical procedure. Whilst Chief Somare was away the Parliament decides that there was a vacancy in the Prime Minister’s post and opted to elect a new Prime Minister. Peter O’Niel was chosen to fill the vacancy.

ESP now has placed a Supreme Court reference questioning amongs other things if there exists a vacancy in the Prime Minister seat and also if Parliament acted out of its rules by voting for a new PM on the same day instead of the next seating of the Parliament.

But Sir Michael arrives back today in the country because Parliament choose to seat earlier than expected. Rather than risked being removed from Parliament for missing 3 consecutive seating…… Sir Michael Returns.

It would be interesting to see what transpires on Tuesday…… obviously Sir Michael would head straight to the PM’s seat…..and I wonder what would happen. Will speaker Nape move him to the opposition??

Only time will tell……..can’t wait for Tuesday!!

 

 

 

It was an Honour

Posted: February 11, 2011 in Information, Out n About

Last week was one of those stressful and most intensive week of my entire life. Maybe close to sitting for an exam during those years back in Uni. Late to bed and early to be awake and even a month prior to last week, it was just hectic.

Rex & Serah with Lars Thunell in Tokua Airport

The subject of my stress was the visit of the International Finance Corporation (IFC) CEO & World Bank Executive Vice President Lars Thunell to Papua New Guinea. He spent almost 5 days here which is the longest he has been to any country apart from United States.

Lars Thunell’s visit was to signed an Establishment Agreement with the Government of Papua New Guinea and officially open IFC’s office in Deloitte Tower. Whilst in PNG, Lars was able to go on a trip to Goroko to open a BSP Rual Bank and Kokopo to visit the Digicel distribution network at work.

Lars strikes me as a very down to earth person and whilst he was in Kokopo I introduced him to Mary one of Digicel’s sub-distributors. Mary was able to demonstrate to Lars how EVD works on a phone-to-phone basis. While marshalling Lars around Kokopo market and even having a chat with Mary, he seems very interested in Mary and what Mary had to say regarding the Digicel sub-distributor program.

Lars is not the first VIP in the World Bank Group that I have meet, in 2007 I meet with Paul Wolfowitz who was then the President of World Bank in Singapore during a joint IMF/World Bank annual meeting.

Life is short, and I must say it was an Honour to have meet people like Lars Thunell and Paul Wolfowitz

Rex and World Bank President Paul Wolfowitz in Singapore

It was 1:30 am in the morning…… and I have just camped under my tin-roof sacked at Tauram Beach in Port Moresby. Red-eyed from sleep, I rushed to put on my small generator so I can get a glimpsed of Hekari United in action againts Al Wahda in Abu Dhabi. Generator started and my portal TV switched on, I seached to find the correct channel to get EMTV. However, my wired-hanger antenna just couldn’t pick out the signal.

Disappointed, I resorted to text my friends who would be awake to watch the match on TV. Yes… found someone up… Thankyou David.. but no thankyou for the result of 2-0 before half-time.

Balloons deflated, a feeling of disappointment I walked into my little sack and just wanted to get some sleep and forget that Hekari was loosing and quietly hoping that Hekari would come back into the second half and turn things around. Hopefully if I go to sleep and get up in the morning to turn my computer on, i’d get a different result which would have made my entire week.

It was not to be……but one thing Hekari would have gone away with is the fact that they have seen football biggest stage. They would have now experience what is like to be competing againts the worlds best. And to be a force to be reckon with, they need to polish up on their act, play with their hearts and play smarter…

Hekari has made Papua New Guinea proud and certainly all of the Pacific Islands!!!

back again

Posted: December 9, 2010 in Information, Out n About

And so I am back again to my old blog😥

I had thought moving towards the new site Yu Tok Organization was going to be a great success. And while it was a great success in the initial stages and we had thousands and many subscribers and visitors who visited the site each day, we though we had made the break that we would now launch a successful social network site on NING Plateform.

While this was possible, I didn’t anticipate a minor glitched which turn out to be a major problem. NING Plateform which was suppose to be a free hosting site decided to do a u-turn and start to charge it’s subscbers on the site. Now while it can be beneficial and profitable for some… NGO like Yu Tok cannot afford it as we don’t charge our members either and knowing that our members are also from developing worlds that can’t afford to subsribe monthly to our site.

So here we are, out of pocket and out of ideas and with my tail in between my leg have decided to get back here and reorganised and restrategied and see where I can take it up again. The idea of this bigger and better social network still reigns but all I need now is someone or someway to at least sustain and maintain a social network.

The possibility is still there…..I just need to find a way to sustain it

 

Dear Readers

I have been neglecting this blog for a long time now…… gosh I can’t even remember when I last posted here.

The reason being that I have been working on a new Social Networking site in Asia Pacific Region. The social networking site is similar to Facebook, Bebo, Hi5, MySpace and the list goes on… What its great about this site… is that it is owned and run by me (yours truely) but also have moderators from over the Pacific Region.

Yu Tok Organization or Yu Tok Social Network is a growing social networking for Young people and those who are young at heart in Papua New Guinea and across the Asia Pacific Region.

The site has the following Features;

  • Discussion Boards
  • Chat Rooms
  • Groups
  • Videos
  • Music Site
  • iMagazine
  • iPaper
  • Games Arcade ( over 200 plus)
  • C31 – our new Partner in our quest for a community TV

From the day that I launced the website and till now here are my stats;

466 members 1557 photos
372 songs 77 videos
103 discussions 63 blog posts

Not to mentioned I have 10, 435 visitors from 59 countries.

And the amazing thing is people are signing up almost every day…..

So if you looking for a place to hang-out with wantoks or friends….. and wanting to create a network and meet people….check the site out.

Helen Samilou, famous for her bravery towards discrimination due to her status as living with HIV/AIDS has been awarded the Papua New Guinea 2008 Award for International Women of Courage. 

This remarkable woman has defied all odds and has come out publicly with her status. She not only told everyone about her status but she has gone a step further by advocating for People Living With HIV/AIDS (PLWHA) and been a role model for many. Another guy, Peter Momo is also doing his part advocating and also warning people to be careful with their life.  

 

Helen was presented this award by Ambassodor Leslie Rowe in a closed ceremony held at the American Embassy on Wednesday morning. In attendance was Dame Carol Kidu, the first winner of the Award in Papua New Guinea.

Dame Kidu congratulated Helen but was ashamed the government of PNG did not do more for people like Helen and also was not present for the awards ceremony.