Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,151,887 members, 7,814,005 topics. Date: Wednesday, 01 May 2024 at 12:17 AM

The Nigerian Forex Trader And The Get Rich Quick Mentality - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / The Nigerian Forex Trader And The Get Rich Quick Mentality (1674 Views)

10 Reasons Why You Must Get Rich / Elijah Oyefeso Now A Stock Trader, Earns £30,000 On A Bad Month (pics) / Google Trader Nigeria To Compete With Dealfish, Tradestable, Nairalist (2) (3) (4)

(1) (Reply) (Go Down)

The Nigerian Forex Trader And The Get Rich Quick Mentality by Nobody: 7:50pm On Jan 03, 2013
Something is the air,its ringing at a feverish pitch,its the order of the day. Everybody has been waiting for this God given opportunity.Tom could not believe his ears,Dick is foaming from the mouth and Harry has bought a new big calculator to punch in his profits.

Its a jamboree for all the lazy bag of bones and they will milk the world dry this time around. Well I wouldn’t speak for other people as I’m only a Nigerian and in my years of sojourn right from birth in this good country,I know that everybody;children,youth,middle aged and even oldies have something going on strong about living in affluence.

We have had waves upon waves of trends and cultures of affluence such as Barons which was quite popular from the ,Jandons which took over in the 90s and yahoo boys came exploding in the new millennium. In as much as they are all still inter mingled together till date,we have found ways to cut corners and sinking elbow deep in sleaze.With all due respect to millions who work twice as hard to get half as far comparatively due to the rot which is oozing down from the top and threatening to spread all over with a malignant ferocity,I must say that an average youth in this Country feels more comfortable expecting God or Fortuna to rain down Manna and Quail from the high heavens right down on their lazy laps. Since the popular means and ways of swindling money seems to have saturated and one of the greatest laws in Economics,the law of diminishing return has inadvertently set in,most people have turned their greed and laziness towards other means and this time around its “FOREX” Beautiful! they have heard tales of the software with candle like charts “where you put in some money and then the banks break open” Most of all all they need is just an Internet connection and a laptop and a couple of accounts big enough to hold their profits. Their pupils suddenly dilate with greed when they hear its a $3 trillion daily market where anything is possible,dreams are made,millionaires are molded in a twinkle of an eye and all their dreams of driving those flashy cars,hanging in the “happening” places,dating the fairest girls,building the biggest mansions and raising a cloud of dust in the face of their enemies from doing 1 to 100 in 5 seconds from their fast cars,all this has sort of become the Nigerian dream for the average misguided Nigerian youth.

I really don’t know where these guys get these fallacies from,the peddlers of these half truths seem to have obscured them from the flip side of the coin,they seem to play deaf ears to the sounding cymbals of warnings of risks,probably,they are color blind and can’t just see the red flags that clearly inundated the tortuous walkways of the business. No I think some vendors clearly sells them a polished and emasculated version of the facts. Its like saying “look at this lake,its still and the waters are fresh and calm” You are encouraged to take a plunge head first without realizing that the most dangerous and month long hungry crocodiles in their thousands are right below the still waters salivating hungrily and waiting for you to hit the surface of the waters so they can make a delicious meal out of the victim

Scary? yes that’s the truth!You all need to start saving some of these monies you are throwing away trading forex,if you must waste money, I think its wise to spend it on your daily needs,hungry neighbors,your education and so on.But if you must trade forex,you all need to take it upon yourselves and realize that this is a business and you must go through the learning curves,you must have to apply the fundamental rules of business and ultimately,you have to be willing to sacrifice your time studying,planning,implementing your business plans and also being patient enough to wait on the fruits and dividends of your investments decisions. If not,you will find yourself in a very bad place without money,without friends crying hot tears because i promise you,the currency markets “will eat you raw”

I have been opportuned to make some friends with a lot of people connected directed with the dealings of this market and someday someone asked me:

“Where do Nigerians find all these money they loose in the forex markets?” Well, I didn’t quite know how to answer the questions other than saying “I don’t know”

She asked again;” But why do they always come back after loosing so much and start all over again?” Well this time I had a better response “You need to know that the Nigerian spirit is a very resilient one,the average Nigerian can survive very harsh situations and come out with a smile”

She said;”But must they trade?” I replied “But trading is very convenient,maybe that’s why” She said;” But trading is not more convenient than other businesses,they can work,invest,if it must be on line,then they can open on line stores,this does not just make sense to me,I know they say if you fail try again till you succeed,but I’m sure that the authors did not particularly refer to making bad investments and coming back to make more”

We had a really interesting conversation and it really became an eye opener to what these struggling,misguided and possibly frustrated young country men are going through.I drew a lot of inspiration from that to reach out to these army of traders to at least tell them the truth about trading and also let in on the facts that will find them success;

“Forex is not where schemers should take refuge,its not a get rich quick business,its not gambling,its not luck,its not for the undecided and neither is it for the lily livered”

If you feel or think you will hit some luck and rip the markets off,then brother,think twice before you add that hard earned money to mine,its simple,i have learned that it takes some patience,strategic planning,research,sweat,tears and all other ingredients to become a successful traders,so you really will loose your whole money competing with seasoned and trained hearts and minds in this very highly competitive business.

Another aspect I want to touch is the current trend on the social media on the Internet where con men have infiltrated all in the name of Forex. Everybody has become sort of a guru,teaching and spitting out toxic signals all over the place,they impress you with fictitious result sheets and green littered performance sheets all in the bid to convince you to make an investment with them or sell something to you.

“WAKE UP PEOPLE” these are nothing but fraudsters and con artists looking to exploit the greedy and uninformed using Forex as a pretense,its either they take your money and vanish into thin air or they plunder your hard earned funds in an attempt to trade and made profits you will share with them. Otherwise many times,I have encountered severally these group who will go to some unknown but popular Forex portals and lift some trend indicating directions for most currency pairs which is supposed to be free for Forex traders to guide them in the direction the market s going,but here they capture the screen and was all over the place on face book claiming to be the author of such signals and asking people for money in order to make it available for them privately once the free test showing expired.PATHETIC!!!

Here at SwanFX Group,we go beyond profits,we believe in learning,we believe that the markets can be traded profitably as we have publicly demonstrated openly with our regular trade set ups and Price Action market commentary,but we believe that winning takes learning,winning takes fine tuning of the trading mindset and adoption of the right attitudes and behaviors. We are reaching out to all traders especially Nigerians to pay deaf ears to people only interested in dipping their hands in their monies and come together and learn the basics of the business. We are threading on paths never threaded before,and we are sure leaving indelible foot prints on the sands of time,would you rather walk us or would you ask yourself where were you when the great exodus commenced?

….more profits to your coffers!!!

www.swanfxgroup.com/blog
Re: The Nigerian Forex Trader And The Get Rich Quick Mentality by leopower(m): 8:25pm On Jan 03, 2013
9japipper: Something is the air,its ringing at a feverish pitch,its the order of the day. Everybody has been waiting for this God given opportunity.Tom could not believe his ears,Dick is foaming from the mouth and Harry has bought a new big calculator to punch in his profits.

Its a jamboree for all the lazy bag of bones and they will milk the world dry this time around. Well I wouldn’t speak for other people as I’m only a Nigerian and in my years of sojourn right from birth in this good country,I know that everybody;children,youth,middle aged and even oldies have something going on strong about living in affluence.

We have had waves upon waves of trends and cultures of affluence such as Barons which was quite popular from the ,Jandons which took over in the 90s and yahoo boys came exploding in the new millennium. In as much as they are all still inter mingled together till date,we have found ways to cut corners and sinking elbow deep in sleaze.With all due respect to millions who work twice as hard to get half as far comparatively due to the rot which is oozing down from the top and threatening to spread all over with a malignant ferocity,I must say that an average youth in this Country feels more comfortable expecting God or Fortuna to rain down Manna and Quail from the high heavens right down on their lazy laps. Since the popular means and ways of swindling money seems to have saturated and one of the greatest laws in Economics,the law of diminishing return has inadvertently set in,most people have turned their greed and laziness towards other means and this time around its “FOREX” Beautiful! they have heard tales of the software with candle like charts “where you put in some money and then the banks break open” Most of all all they need is just an Internet connection and a laptop and a couple of accounts big enough to hold their profits. Their pupils suddenly dilate with greed when they hear its a $3 trillion daily market where anything is possible,dreams are made,millionaires are molded in a twinkle of an eye and all their dreams of driving those flashy cars,hanging in the “happening” places,dating the fairest girls,building the biggest mansions and raising a cloud of dust in the face of their enemies from doing 1 to 100 in 5 seconds from their fast cars,all this has sort of become the Nigerian dream for the average misguided Nigerian youth.

I really don’t know where these guys get these fallacies from,the peddlers of these half truths seem to have obscured them from the flip side of the coin,they seem to play deaf ears to the sounding cymbals of warnings of risks,probably,they are color blind and can’t just see the red flags that clearly inundated the tortuous walkways of the business. No I think some vendors clearly sells them a polished and emasculated version of the facts. Its like saying “look at this lake,its still and the waters are fresh and calm” You are encouraged to take a plunge head first without realizing that the most dangerous and month long hungry crocodiles in their thousands are right below the still waters salivating hungrily and waiting for you to hit the surface of the waters so they can make a delicious meal out of the victim

Scary? yes that’s the truth!You all need to start saving some of these monies you are throwing away trading forex,if you must waste money, I think its wise to spend it on your daily needs,hungry neighbors,your education and so on.But if you must trade forex,you all need to take it upon yourselves and realize that this is a business and you must go through the learning curves,you must have to apply the fundamental rules of business and ultimately,you have to be willing to sacrifice your time studying,planning,implementing your business plans and also being patient enough to wait on the fruits and dividends of your investments decisions. If not,you will find yourself in a very bad place without money,without friends crying hot tears because i promise you,the currency markets “will eat you raw”

I have been opportuned to make some friends with a lot of people connected directed with the dealings of this market and someday someone asked me:

“Where do Nigerians find all these money they loose in the forex markets?” Well, I didn’t quite know how to answer the questions other than saying “I don’t know”

She asked again;” But why do they always come back after loosing so much and start all over again?” Well this time I had a better response “You need to know that the Nigerian spirit is a very resilient one,the average Nigerian can survive very harsh situations and come out with a smile”

She said;”But must they trade?” I replied “But trading is very convenient,maybe that’s why” She said;” But trading is not more convenient than other businesses,they can work,invest,if it must be on line,then they can open on line stores,this does not just make sense to me,I know they say if you fail try again till you succeed,but I’m sure that the authors did not particularly refer to making bad investments and coming back to make more”

We had a really interesting conversation and it really became an eye opener to what these struggling,misguided and possibly frustrated young country men are going through.I drew a lot of inspiration from that to reach out to these army of traders to at least tell them the truth about trading and also let in on the facts that will find them success;

“Forex is not where schemers should take refuge,its not a get rich quick business,its not gambling,its not luck,its not for the undecided and neither is it for the lily livered”

If you feel or think you will hit some luck and rip the markets off,then brother,think twice before you add that hard earned money to mine,its simple,i have learned that it takes some patience,strategic planning,research,sweat,tears and all other ingredients to become a successful traders,so you really will loose your whole money competing with seasoned and trained hearts and minds in this very highly competitive business.

Another aspect I want to touch is the current trend on the social media on the Internet where con men have infiltrated all in the name of Forex. Everybody has become sort of a guru,teaching and spitting out toxic signals all over the place,they impress you with fictitious result sheets and green littered performance sheets all in the bid to convince you to make an investment with them or sell something to you.

“WAKE UP PEOPLE” these are nothing but fraudsters and con artists looking to exploit the greedy and uninformed using Forex as a pretense,its either they take your money and vanish into thin air or they plunder your hard earned funds in an attempt to trade and made profits you will share with them. Otherwise many times,I have encountered severally these group who will go to some unknown but popular Forex portals and lift some trend indicating directions for most currency pairs which is supposed to be free for Forex traders to guide them in the direction the market s going,but here they capture the screen and was all over the place on face book claiming to be the author of such signals and asking people for money in order to make it available for them privately once the free test showing expired.PATHETIC!!!

Here at SwanFX Group,we go beyond profits,we believe in learning,we believe that the markets can be traded profitably as we have publicly demonstrated openly with our regular trade set ups and Price Action market commentary,but we believe that winning takes learning,winning takes fine tuning of the trading mindset and adoption of the right attitudes and behaviors. We are reaching out to all traders especially Nigerians to pay deaf ears to people only interested in dipping their hands in their monies and come together and learn the basics of the business. We are threading on paths never threaded before,and we are sure leaving indelible foot prints on the sands of time,would you rather walk us or would you ask yourself where were you when the great exodus commenced?

….more profits to your coffers!!!

www.swanfxgroup.com/blog
good write up.
Re: The Nigerian Forex Trader And The Get Rich Quick Mentality by dabrake(m): 8:42pm On Jan 03, 2013
leopower:
good write up.
but bros, quoting the whole article just to drop a 3-word post?
Re: The Nigerian Forex Trader And The Get Rich Quick Mentality by Nobody: 8:44pm On Jan 03, 2013
heheheh am sure he likes the article

(1) (Reply)

Make At-least Extra 20K Per Month To Your Salary Without Investing A Kobo / Nigeria's First Scam Ad Company / How Possible Will N10,000. Be Used For Importation Business?

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 53
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.