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Nairaland Forum / Nairaland / General / Business / Forex Trading - Season 13 (671623 Views)
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Re: Forex Trading - Season 13 by Boss13: 6:54am On Apr 29, 2013 |
I hear people saying treat forex like a business. Surprisingly, it is a biz u don't have control over and according to super entrepreneur, a biz u don't have control over should be avoided. I tried forex and guess what lost money. The brokers are out to suck you dry. I noticed this after watching 2 diff trading platforms and I saw the discrepancies. Friends, for those who intend to join, please avoid this and look for a business you can do and you understand d risk. For those who are still hooked, we pray you make that money (which I honestly doubt, because no broker wants to lose money). |
Re: Forex Trading - Season 13 by InvertedHammer: 6:55am On Apr 29, 2013 |
rozayx5: Seun is saying the truth and that's why it hurts. Below is the regulatory Board disclaimer that every fx broker are required to inform their customers. Some sleazy brokers only offer it in fineprints.. NFA and CTFC Required Disclaimers Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of experience and risk appetite. Do not invest money you cannot afford to lose. Forex, futures and options trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex, futures and options markets. Don't trade with money you can't afford to lose. This website is neither a solicitation nor an offer to Buy/Sell Forex futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results. |
Re: Forex Trading - Season 13 by rozayx5(m): 6:56am On Apr 29, 2013 |
Kirinwa: Can someone tell me why we are in Front page? Forex is a choice made by adults who are matured to know the implications and thus chose their paths. its just haterism |
Re: Forex Trading - Season 13 by rozayx5(m): 6:57am On Apr 29, 2013 |
InvertedHammer: saying the truth that you cannot succeed as a full time trader, tell me something 1 Like |
Re: Forex Trading - Season 13 by rozayx5(m): 6:58am On Apr 29, 2013 |
Boss13: I hear people saying treat forex like a business. Surprisingly, it is a biz u don't have control over and according to super entrepreneur, a biz u don't have control over should be avoided. i dont need your prayers i am already past that stage of hoping, i now set earning targets am not trying 1 Like |
Re: Forex Trading - Season 13 by Kirinwa: 7:01am On Apr 29, 2013 |
dnative: forex trading! Speak thus and I'll see your head parted from the neck! SPARTACUS 1 Like
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Re: Forex Trading - Season 13 by InvertedHammer: 7:02am On Apr 29, 2013 |
author=rozayx5 Of course, one can succeed as a full time trader as long as you have a lot of fund in your account and you have good Money Management skills. But in a business in which there is 90% failure rate, it is good that the inherent dangers therein are brought to the fore. Just saying. As I answered to someone earlier, why bother yourself with Seun's opinion about fx trading. The only person that you are answerable to is YOU. Not me, not Seun nor other naysayers. Keep your head up! |
Re: Forex Trading - Season 13 by Kirinwa: 7:02am On Apr 29, 2013 |
dnative: forex trading! Speak thus and I'll see your head parted from the neck! Shall I begin?!!!! |
Re: Forex Trading - Season 13 by MANOSUB(m): 7:02am On Apr 29, 2013 |
I knw of a guy who kept changing apartment after collecting money from people, in the hope that he wont be caught incase of loss. He collected my money went to delta state, changed his line, i coundnt reach him for months until luck ran against him. These forex traders keep discovering a new stragegy, a strategy that never last. Before you knw it, they start running away from people. Just what i observe. If any forex trader is here and sincere enough he/she should tell us the truth if its worth going into. |
Re: Forex Trading - Season 13 by mercenaryx(m): 7:05am On Apr 29, 2013 |
joseph1013: Hello Poster (that brought all of us here to see technical jargons we cannot even decipher), I like buy you beer! What's your brand? |
Re: Forex Trading - Season 13 by topmostg: 7:06am On Apr 29, 2013 |
naijababe:what's all these beef all about huh? Pls cut our "oga at the top" some slacks na.., if we go check am na, him no be ya mate... |
Re: Forex Trading - Season 13 by InvertedHammer: 7:07am On Apr 29, 2013 |
MANOSUB: I knw of a guy who kept changing apartment after collecting money from people, in the hope that he wont be caught incase of loss. He collected my money went to delta state, changed his line, i coundnt reach him for months until luck ran against him. These forex traders keep discovering a new stragegy, a strategy that never last. Before you knw it, they start running away from people. Just what i observe. If any forex trader is here and sincere enough he/she should tell us the truth if its worth going into. Honestly, it is worth going into. I am a living witness. But you cannot be a forex trader with anything less than $10k else the brokers will have you for lunch. Or you are a part-time trader. On the short run, folks make money and brag about their wins but never mention their losses. Hey, even a broken clock is right twice in a day. Most traders don't survive on the same capital on the long run. Some folks keep funding their account hoping to beat the market. It is a crazy world. They are called brokers for a reason--their job is to make you broke. For a starter, google "forex brokers reviews" and you will see a litany of complaints and frustrations from their customers from re-quotes, slippage, stop-hunting, etc. Woe be tide you if you trade with a broker in an unregulated environment/country 1 Like |
Re: Forex Trading - Season 13 by rozayx5(m): 7:12am On Apr 29, 2013 |
topmostg: what's all these beef all about huh? do you even know who your talking to as far as forex is concerned no JOB hugger can make me to leave trading, cause am not ready to wake up at 4am and rushing too build someones wealth 1 Like |
Re: Forex Trading - Season 13 by kcc515(m): 7:12am On Apr 29, 2013 |
moved on already. no time. whoever is still trying to discourage me is in my past! 1 Like
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Re: Forex Trading - Season 13 by InvertedHammer: 7:16am On Apr 29, 2013 |
kcc515: moved on already. no time. whoever is still trying to discourage me is in my past! That's the spirit. Jesus was cajoled. Einstein was cajoled. So what makes you think you will not be cajoled in this endeavour to better yourself? If it ain't broken, don't fix it. I wish you all the best. Am in it full time. Let our earnings judge us. 1 Like |
Re: Forex Trading - Season 13 by rozayx5(m): 7:16am On Apr 29, 2013 |
too much noise from frontpage traffic, abeg Mods how much you go collect make you remove this topic from frontpage your derailing our Honorable House of traders
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Re: Forex Trading - Season 13 by infofirst(m): 7:17am On Apr 29, 2013 |
90% failure rate in Forex hmm? Please who can tell me, what the failure rate is in life? Again, it takes more than six years to practice medicine right? So those that have lost money in Forex, How many years did u invest in Forex education before investing? Lets just hold on to our Believe jawe 5 Likes |
Re: Forex Trading - Season 13 by rozayx5(m): 7:23am On Apr 29, 2013 |
infofirst: 90% failure rate in Forex hmm? Please who can tell me, what the failure rate is in life? no mind these nairalanders , many of them are just talking from the gamblers experience of forex A doctor will spend all those years and end up being a boy boy since there is a high success rate in Business outside forex, what is the ratio of the rich to the poor 1 Like |
Re: Forex Trading - Season 13 by VirginFinder: 7:23am On Apr 29, 2013 |
rozayx5: You dropped out of school because of forex?! O ma se o!! |
Re: Forex Trading - Season 13 by topmostg: 7:25am On Apr 29, 2013 |
rozayx5: k... I take that back SIR. No offense intended.. |
Re: Forex Trading - Season 13 by mercenaryx(m): 7:26am On Apr 29, 2013 |
Virgin Finder:Shut up sir. |
Re: Forex Trading - Season 13 by InvertedHammer: 7:28am On Apr 29, 2013 |
My prediction is that retail forex trading will be dead in 10 years. It has already started in USA with all the CFTC and Dodd-Frank regulations and meddling in the market. When regulated economies close their doors to retail, the shysters come into play and scam people. Thereafter traders will run for the hills. It will be game over. So traders and traderettes(?) bank your profits and diversify. |
Re: Forex Trading - Season 13 by topmostg: 7:28am On Apr 29, 2013 |
Virgin Finder:oh boy... I can only imagine if forex is more important than the degree... |
Re: Forex Trading - Season 13 by infofirst(m): 7:29am On Apr 29, 2013 |
rozayx5: Abi oh. |
Re: Forex Trading - Season 13 by dnative(m): 7:31am On Apr 29, 2013 |
Kirinwa: Ode. Spartacus is played out! |
Re: Forex Trading - Season 13 by VirginFinder: 7:32am On Apr 29, 2013 |
InvertedHammer: You are the only reasonable and sincere forex trader I've met so far on this thread. I ask, what does it take to be a broker? Can't you be one yourself? Why stay on the ground floor with insects,cockroaches and rats? Please endeavour to be a broker! |
Re: Forex Trading - Season 13 by Nobody: 7:33am On Apr 29, 2013 |
So they devoted two lines on the front page to ridicule and derail this thread?? Ok o. To my real guys, I'm off the thread till further notice. We'll see next week. |
Re: Forex Trading - Season 13 by okemmadu(m): 7:34am On Apr 29, 2013 |
Who does not know that its greed, fear and ignorance that makes people lose money in forex. some years back, one of my friends only learned how to open and close positions. and then a bollinger band indicator. his trading plan was to place a sell when the touches the top bollinger and to place a buy when the price touch the lower bollinger. his motto was " anything that goes up must come down". that was all he knew. he rented an office, went to the radio place adverts for seminar on how to make money in forex. a lot of people came. and some invested millions with him to trade for them. and he lost them all. i can be sure nigerians lose the biggest money in forex, because some of us are very greedy and very ignorant. too greedy and ignorant that we can not spend money and time to learn from those that are successful. |
Re: Forex Trading - Season 13 by rozayx5(m): 7:36am On Apr 29, 2013 |
topmostg: oh boy... and dont be surprised, your so called graduates are applying to work in my establishments, what do you think a degree is , it was that powerful and your searching for jobs , i thought upon graduation you will be given a car,house and wife , keep living in the dreams of your forefathers , your eye will clear when retrenchment comes without notice( not for U) even if forex closes today, i can school anywhere i desire, not these glorified secondary schools in Nigeria producing 99% zombies and 1% graduates 4 Likes |
Re: Forex Trading - Season 13 by InvertedHammer: 7:40am On Apr 29, 2013 |
FEW TIPS: 1. Know the important times of the day when the market moves most (Usually beginning of European and USA sessions) 2. Know the economic calendars for the day/week/month. You can get access to this information by going to www.babypips.com....Click on Tools and you will see the times for important economic releases and how important such information is for the market. The data release is ranked in severity from 1 to 3. 3. If you are trading JPY pairs, watch out for BOJ interventions that usually happens during Asia session and lasts for about an hour or two. 4. Go to dailyfx.com forum and read other traders' opinion about the market. DO NOT, I repeat, DO NOT trade any other person's opinion about the market. Some of them are convincing in their analysis. But the money is your money. Be very careful. Use it for educational purposes only. I will keep updating if necessary... 1 Like |
Re: Forex Trading - Season 13 by fxisreal: 7:42am On Apr 29, 2013 |
Piponomics: So they devoted two lines on the front page to ridicule and derail this thread?? Ok o. Seun already achieving his objective here "traffic" . there is some scammer thread on NL begging seun and his crew to put it on front page for other pple to be save of being scam they fail to do this but instead devoted 2 lines of this thread on front page within an hour. a slap on our face |
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