Alright, now that all the silly general election campaign and propaganda had ended, I think its is now time to contribute something good to the trading industry.
You guys heard about George Soros and his side kick Jim Rogers? Well to my surprise, both of them has separated and Jim is now a permanent resident of Singapore. Well Jim dose not choose Singapore by accident because Singapore is now #3 in world transaction of currency, ie Forex. Soros made his first big hit in the cable with mega positions in the 90s. No market in the world can provide that much of depth and volatility other than Forex. In the 90s, retail trading were not available to small customers and banks only provide quotes(by phone) to big institutions. Orders done were nothing smaller than a million bucks per call.
I have traded commodities, interest rates and index futures, but none are as trending as forex. If you're not convinced, just take the US currency index 10 year daily/monthly chart and compare it with index or commodities. In actual fact, index futures are the most choppy and unpredictable market I've ever traded. Commodities used to be the darling of long term traders but due to more people having access to the global markets, big corrections more of the norm now.
Forex is commission free but that doesn't means all will day trade, it is very hard to day trade forex because it is a news driven market. If a big news comes out, the quotes will widen to 10-20pips(depending on markets) and will stop out all the frys.
Almost all the newspapers advertisement now are selling courses by fake forex gurus teaching clueless people how to day trade or scalp. Out of a 100 guys maybe 10 are successful in their first few months and these 10 guys will probably blow their account out by the second year, so don't fall for it.
Local futures trading business is close to dead in Singapore so don't bother to hunt for courses teaching you how to scalp in an arcade.
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