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1) FOREX can fluctuate by the minute and a trader must be sure he is selling higher than his buying price each time.
2) Risk of non-payment by the buyer.
3) Being known as a trader adds to his and his family’s security risk.

Conversion from dollars to pesos or vice-versa could result in gain or loss depending on when the conversion is done. Unfortunately, there is no one in the world who can tell how the exchange rate will move in the future.

Note that the FOREX went all the way up to over PhP56 in October 2005 and went all the way back down to less than PhP43 a few months ago. I strongly suggest that the ordinary income-earning Filipino should not speculate in FOREX. It is only for the experts who have the resources and the experience. Much like gambling, those who claim to make money can easily lose this in the next round.

FRANCISCO J. COLAYCO is an entrepreneur, a venture developer and financial advisor. He has over 40 years of experience that covers service contracting in the Middle East, manufacturing, trading construction, shipbuilding, management consulting, banking and financial services. He is the Chairman of the Colayco Foundation for Education (CFE) and the author of bestsellers: Wealth Within Your Reach (2004 National Book Award for Business and Economics), Making Your Money Work (Nominated in 2005, National Book Awards Business and Economics), Pera Palaguin Workbook and Money for Kids. The books are available at National Bookstore, most other bookstores or directly from CFE. He joins our website blog to share with ordinary income earners, Overseas Filipino Workers (OFW) and students the simple principles to "Save what you earn and grow what you save." CFE conducts talks, seminars, and workshops. “Managing Personal Finances For The Future” a seminar-workshop developed in partnership with the Ateneo Graduate School of Business, Center for Continuing Education. June 21, 2008, Saturday, 9:00 am to 6:00 pm. For registration and inquiries, please call Marleth Calanog at 830-2050. CFE is also the producer of the PISObilities DVD series, available at your favorite audio-video shops in May 2008. Learn more about the advocacy at http://www.colaycofoundation.com/, email info@colaycofoundation.com, via SMS +63917-8537333 or through (632)637-3741.