FINANCIAL BEHAVIOR OF FOREIGN EXCHANGE MARKET RETAIL TRADERS: A STUDY IN LAGUNA

Pee-Jay J. Ortega ()
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Pee-Jay J. Ortega: Gov. Felicisimo T. San Luis National Agro-Industrial Integrated High School

Malaysian E Commerce Journal (MECJ), 2023, vol. 8, issue 2, 57-61

Abstract: The study analyzes the financial behavior of foreign exchange retail traders in Laguna. This study used quantitative-descriptive approach. The study respondents comprised 425 forex traders aged 18 to 65 years old as of September 2023. The collected data were analyzed using the mean to understand the distribution of financial behavior. Kruskal-Wallis H Test and Mann-Whitney U Test were utilized to determine differences based on demographic profile. The study demonstrate that financial knowledge moderately influences participants financial behavior with most agreeing on the importance of a well-defined trading plan, large positions, and risk reduction. However, moderate agreement exists on inflation and trading sessions. The study reveals participants’ financial skills, with moderate level of financial prudence and strong consensus on seeking advice. The study indicates moderate positive attitudes towards fore trading, focusing on profit-making, maintaining a positive outlook, and learning from losses despite disagreement in certain areas. The study unveils that while there are differences in financial behavior based on sex, there are no significant variation in financial skills or attitudes.

Keywords: Foreign Exchange Market; Retail Traders; financial behavior. (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zib:zbmecj:v:8:y:2023:i:2:p:57-61

DOI: 10.26480/mecj.02.2024.57.61

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