let seun they make his talk make me dey count my pips. if i decide to close trade with this 29pips now assume just with std lot tell him how much that 1 be

@kcc151 hope u know say seun already enter list of Afican forbes that shows whatever u know how to do do it better. just trying to make good research Forex is real, who knows may be is your next turn to be listed 2morrow?

come to think of it see Seun Personal text: If I intend to do something someday, I'll do it now. If I can't do it now, I'll forget about it

this thread go face heavy distraction by tommorrow... anyways, dem go tire leave the thread noni

Manweysabi: this thread go face heavy distraction by tommorrow... anyways, dem go tire leave the thread noni

I tell you. Gbogbo distraction gidi.

Toks2008:

I wouldn't have commented on this if i did not see it on the front page.

Friends, let me make this straight and blunt.

Many people will end up wasting their time, money and life trying to trade successfully because they will always fail.

Fear and greed will always come in.

IF YOU HAVE AND I REPEAT, IF YOU HAVE A GOOD TRADING METHOD THAT YOU ARE SURE OF, AUTOMATE IT AND LET IT HANDLE YOUR TRADES.

Go about your life. Do other businesses and be ok with a decent profit from the results of the automated trading.

Don't ever allow any fund manager handle your money with manual trade executions and for the automated fund management, see live trading result for at least 3 months before investing.

Manually trading this business is a waste of time for 99% of traders and only 1%(not 5% will end up profitable trading manually)

This is my honest opinion.

If only you guys can see the truth. Brokers are feeding large on our emotions. Be wise guys, i have been in this business long enough to understand that we have so much noise making and hype in this business.

lets face it, you have 1k and you see a swift move in a specific direction and your analysis suggest you hop in. Will you be cautious enough to use just 2/3%? HELL NO. 99% of manual traders will risk more to make fast big cash and then random moves start and they get so scared and exit at a big loss.This continues and then all equity gone. Then the traders puts in another equity due to the addictive nature of fx trading and the circle begins.

Many people are in jail right now and many are in self exile as a result of trying to make quick big cash from fx trading. I don't blame them, its just pure human emotion.

I came here sometime saying 10% average monthly profit is ok with cumulative profit of over 400% in a year and some say im a joke.

The truth is;even with my sound knowledge in fx trading, i cant trade manually because I AM A GREEDY TRADER. Nothing else to it.

Many of us know our charts very well and in fact most traders understand the trend almost perfectly
but the problem is greed.

For me, i have combined all mu knowledge into creating a software and im not her to market any shit but just making you all to understand IN MY OPINION that you should stop trading this crazy business manually if you can't tame that GREED in you else you will realize too late after you must have wasted years and hard earned money trying to trade this business manually.

dem go dey talk we go dey make the BENJIS

all the same i don't think SEUN have bad intention on what he says on business/investmt but only want to be sure if we are really know what we are doing.

good night house. need to rest my bone

This so called forex sef,nvr really heard anyone say he won huge all i keep seeing na loose loose,smh!..the betting business is so so much beta dan dis,anyway na choice sha! Imagine loosing as high as $10k in forex,lols,its very hard b4 u see something like dat in punting.also naijababe amd hummer,make una take am easy on segun! Part of what he said is ryt,abi i lie?

mr.drizzy:
This so called forex sef,nvr really heard anyone say he won huge all i keep seeing na loose loose,smh!..the betting business is so so much beta dan dis,anyway na choice sha! Imagine loosing as high as $10k in forex,lols,its very hard b4 u see something like dat in punting.also naijababe amd hummer,make una take am easy on segun! Part of what he said is ryt,abi i lie?

I fought Seun took and nail 5 years ago(https://www.nairaland.com/197480/most-unethical-hypocritical-act-all#3142448)over this issue but i now see the angle he was coming from then. Nevertheless friends, don't get it twisted, we all can make very good income from fx only if we trade without greed WHICH IS ALMOST IMPOSSIBLE IN MANUAL TRADE EXECUTION for 99% of traders especially Nigerian traders.

fxisreal:

Alert!
sold eu @ 1.3066 sl 1.3131

Sir, are you selling for just a few pips?
Cos my chart is saying buy. my buy stop is .3057 tp.3167
too lazy to upload any chart

will post nothing more until thread is off front page.

Seun is completely right. "the house always wins" and the house could be your Retail broker, market maker, intermediary, or Forex training course peddlers.

Forex is a zero sum game with no one winning except someone else loses.

The market is more dynamic and fast moving than the deepest fastest ocean and even if you try your best you can never tame that raging monster. Only some one who has lost quite a bit of money trading Forex can tell you this.

Now factor in the outright fraud, deception and manipulation that goes on in these intangible markets and you'll see that the odds of a single individual who is a non-insider making a living income from trading forex is negligible.

The recent LIBOR rate rigging scandal exposed in the British and American banking industry to fraudulently aid the individual trades of the bankers should be enough food for thought 'cos if (London Interbank Offered Rate) LIBOR rates could be so cynically manipulated for profit by Barclays bank and other members of the "British Bankers Association" then I wouldn't be so sure the same is not being done as we speak for the EUR/USD, GBP/JPY pairs by the powers that be behind the scenes.

For example on a less sinister note, if you are a fundamental trader that relies on economic news releases to place your trades, that news release had already been released to "high level subscribers" i.e the global banks by their expensive reuters feeds before you can ever get the news on any website and so by the time you act on the news you see to place your trades, the tide has shifted and only luck can make you guess what direction the market is going in relation to the billion dollar trades already placed by the global banks in response to getting the economic news earlier than yourself.

So, for the small time investor with less than $100,000 TO RISK, it is a Lose, Lose situation and at best a dangerous hobby that is so addictive it can suck you in and lead to financial ruin.

No matter how much INITIAL profit you make from forex, it always has a way of getting it back and MORE because there are so many things going on behind the scenes including stop loss hunting and outright fraud such as the libor rate fixing mentioned above that the global banks are indulging in because the rich wants to always get richer at the expense of the poor. Its a numbers game.

In the early part of the 20th century, Jesse Livermore was the most successful (and most feared) stock and commodities trader on Wall Street and once made $3 million in a single day.

He was known as the "Great Bear of Wall Street" and was famed for "REPEATEDLY" making and losing several multi-million dollar fortunes in his trades.

He wrote a book - "How to Trade Stocks" which is still being referenced today by traders including Forex traders.

Despite his being a trader of "Guru" status, he must have been overwhelmed by the yoyo effect of repeatedly making and losing fortunes from trading that in 1940, he killed himself with a gunshot to the head and left a suicide note to his wife stating - "I am a failure".

This is proof that even Guru's can not tame the market and stop it from wiping them out from time to time.

http://en.wikipedia.org/wiki/Jesse_Lauriston_Livermore

Don't trade Forex with money you cannot afford to lose as scared money NEVER wins.

https://www.nairaland.com/1150348/nigerian-forex-trader-get-rich
Here is a typical Nigerian Trader and how they loss their money trading forex. I hope you guys learn a lot from this article.

There is nothing anybody can tell me to dis believe that we can't profit from fx trading. We can make consistent profits ONLY IF WE TRADE WITHOUT GREED.


BUT THE QUESTION IS"HOW EASY IS IT TO TRADE MANUALLY WITHOUT BEEN GREEDY"?

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,Joystick 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

Seun: He needs to give up. The only people likely to make money from retail FOREX are those intermediaries that collect a commission on every trade. There's a saying in gambling that is applicable here: "the house always wins".

Bro's. . . if you know know, say you know know. granted a lot of us went into forex with the wrong information, inclucing me. I have been trading for 10 years and 8 of those were pure hell until i realized that it was a business and not a get rich quick schemme.

naijababe:

I tell you. Gbogbo distraction gidi.

NA waoooh,which kain trailer pack all this people come here naa

Alright. . .back to business. All pairs are answering their fathers name. AUDCHF is seriously prepping for a nice drop to 9500. Once price reaches the 61.8 fib level. . .that would be around 9730 or 9750. . . . one can place the sell trade. for those comfortable with SL. . .place one at 9772.

Good luck (Mourinho out)

Seun, I have a feeling that this thread is providing more traffic to NL than any other thus your surprise visit and placing on front page twice.


For those doubting thomases, most of us experienced traders uses such business plan as this in forex. I would have posted an account of someone from the thread but una go think say we just dey brag for nothing. **playing Iyanya - Kukere Ft. D'banj (Remix)#**

@kcc515, go to forexball.com competition. Register and compete so as to raise fund from there. I recently won $500 in the rest of the world region.

Meanwhile AU finding minor resistance @ 1.0310 but if broken next target is 1.0440

InvertedHammer:


HAHAHA...LOL. If you believe this, I have a bridge to sell you. You seem like a good candidate for Multi-Level Marketing vultures. Those numbers are fictitious all things being equal. No one can do that. It is a marketing strategy devised by the brokers to suck more people in for the kill.

My only advice for you is that you guide your money and watch it like a hawk.

I'll tell you that it is only greed that make people lose their fund in forex.

Hello, Please can any our you expert trader grant me an interview section for the purpose of my blog? I would really appreciate is as i have promised my reader that I would publish an interview with an expert very soon. Thanks in anticipation.

Well, well, everyone claims to be checking Fibonnaci's, resistance and support levels and so on. . . una try o!

Like someone said earlier, if you are trading with less than $10k, you are on a long thing.

I remember when I was shorting Nikkei during the Japan tsunami/earthquake crisis, I was trading an account with £5k, small news of bailout hit market overnight (I fell asleep), the account dwindled to £-7k and locked me out. Funny enough, if it hadn't locked me out I would have made all my money back + change. I haven't traded since. . . over two years now. . . but in the last week I've been trialling a straddle technique on FTSE100 that does not involve me sitting in front of a computer except logging in for 10 minutes everyday after work. I have run the mathematical model and it would have given me 63 wins and 11 losses YTD with profit of roughly £10k per month. The model requires 10 trading accounts with £4k in each to prevent blowout. I will be straddling one account against another for 5 days a week (5 x 2 = 10), placing stop order buys and sells when the index has gained or lost a certain percentage within 5 days (which I've modelled). . .no stop loss or take profit involved. . . the straddle ensures my losses are limited to my stake x the percentage difference between my long and short straddles (1% of FTSE value x stake (£10)). . . then I close both straddles after 5 days. No intra-day trading involved, and I don't have to check on any pair of straddles till the 5 day period elapses for each pair. I will demo for three months, then decide if reality is congruent with my model, but as for checking graphs and bla bla bla, I am of the opinion that it's a waste of time.