I have long wanted to attend this preview as I am interested to trade FOREX as an alternative market to stocks. Prior to this preview, I have attended Kishore’s preview but did not like his hard selling style. He is indeed a great speaker and salesman. I have learned a thing or two about trading and FOREX from Clarence Chee, which it did not feel like the preview was a waste of 3 hours. Hence, I would like to share some of the interesting and useful tips shared during the preview.
Stock market has Panic Selling
Stocks
Uptrend is slow but downtrend can crash fast. This is due to panic selling. It takes a slow and long time to convince people to invest in stocks but when bad rumors arrive, they can cash in almost immediately. Hence, stock prices fall faster than they rise.
Commodity market has Panic Buying
Commodities
Commodities like oil and rice are what we consume daily. They are a necessity of life. When there is a shortage, people will rush to buy them, which further aggravate the supply problem. Hence, commodities tend to have panic buying scenarios and their prices rise faster than they fall.
FOREX has both Panic Buying and Panic Selling
FOREX
FOREX has the both characteristics of stock and commodity market because it always deal in pairs. To buy one currency, you have to exchange with another. For e.g., when many people are selling Yen for USD, Yen will weaken and USD will strengthen. Hence, there is panic selling of Yen and panic buying of USD.
Stock market rally – Yen Carry Trade
Japan’s interest rate is usually lower than many other countries’. When US stock market is rallying, investors will borrow Yen and convert them to USD to invest in US stocks. Although he said that it may not happen 100%, it is as good as 95% and FOREX traders can benefit by longing USD/Yen. This is because the demand for USD rises when investors want to exchange them with Yen, and Yen will flood the market with oversupply.
Oil price rallies – USD/CAD
Canada has a lot of oil reserves and Americans are the biggest consumers of oil. Thus, when there is an increased demand in oil, Americans need to buy more oil from her neighbor. More USD is exchanged for CAD for payment.
Gold price rallies – AUD/USD
Australia has a substantial amount of gold reserves. When gold is in demand, more gold will have to be mined. More AUD is demanded to pay the miners for the gold. However, Clarence cautioned that gold is not as good as oil as a commodity. This is bacause it is a recycleable item (present gold bars and jewellery can be melted and reused), while oil is only expendable once.
I am still considering whether to sign up for the course. Anyone has attended this course or any other FOREX course? What’s your recommendation?
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i am both T3b share and T3b forex student. I can tell u that it is very worthwhile to attend the Forex course :)
Haha. So which has been more profitable for you? My consideration is that there is waiting time for T3B system and when the share market is not tradeable, I can do FOREX. The ideal is that they can compliment each other.
U are right. That’s my attitude too. T3B for shares is more mid term (in a certain sense) while Forex is more short term. I like the way they complement each other. I love to pick up small pips (profits in forex) as coffee money. Also, in a way, knowledge of both markets help each other.. e.g. knowledge of stock markets help the currency trading while knowledge in currency training builds up some kind of financial knowledge that helps in the market too..
Sounds good! Likely I will be going for the course.
welcome to the FX world. Clarence’s FX email forum is very active and has excellent daily support. U will not regret :)
Hello to both of you. Very interesting discussion. Last week I have attended the T3B stock trading preview and have decided to sign up. My friend who was in the T3B FOREX recommended T3B trading to me. As I have limited funds to attend the course and as a newbie to stocks & FX trading, can I know which one is a better choice for me?
Hi newbie, I have been to the stock course to date so I cannot tell you which is better. I always believe the first question to ask is trading suitable for me. If yes, then you can consider gg for a trading course. Be mindful that learning to trade is after the course, not during the course. You need to be trained in the market, not just attending seminars.
To answer your question, I feel that stock trading is slower, you must have the patient to wait while Forex is a much faster game. Hence, it does depend on your trading preference and time available.
Hi Alvin, yes, I have the same sentiment as you that stocks are slower (takes few weeks or months) while FX is a daily, perhaps minute by minute kind of trading. As I’m holding a full time job, I feel that stock trading will be more suitable for me. But on the other hand, stock trading would require more upfront capital (if dun trade using margin) while FX requires lesser capital to trade.
Btw, have you heard abt Nicholas Tan? His course is around S$600 which is so much cheaper than T3B.
I think both FX and shares need capital. Not one is greater than the other. Taking too much leverage all the time is very risky. Leverage should only be taken when the probability of winning is very high.
I have heard about Nicholas Tan, but I have not done any research or attended any of his talks to comment about him or his course. Maybe anyone who has attended want to make a comment?
Hi Alvin,
I just went T3B FX preview and stock preview (this time English one). Find that stock trading would be much easier. How abt u? R u using any of their system?
I agree with you, newbie. I went for both courses and indeed the stock course is much simpler (does not mean it is less profitable). I would recommend people to take the stock course than forex, especially when they are new to trading.
Hi Newbie,
Have you considered taking on the market yourself with experience as your teacher? You know alot of people recommend demoing first to get a feel of the market to see how the market flows, trends and rejects and consolidate. Then you consider about taking a course as a Teacher will appear if the student is ready. FX is all hype up about making money fast but if you dun treat it like a business you will definitely fail. Those exp courses teaches you a system but you must recreate a trading plan around it like when to exit before you enter, about fear of losing. It is more psychological.
I rem the first time I started forex, I am a swim coach full time due to age I’m turning full time trading (not yet). With all the hope and dream I hope to retire my coaching career and turn trading. I won 2k in under 2 days. but I lost 3 days 1 week later. Highly leverage.
Remember the teacher can only teach so much but if the student is not ready, so will your income. (Cont soon if ask)