This post is meant for both existing forex traders and those that are new to the business of foreign exchange of currency. Am not going to start preaching the genesis to revelation of forex trading, but what am going to do here is to make known to you, readers, some of the misconceptions about forex trading in Nigeria, and also correction to some of the mistakes those that have ventured into the forex market made that usually lead to huge losses. Before I get started, I would like to let you know that; the forex market is not meant just for a particular group of persons, but rather, it is meant for everybody and anybody that can be patient enough to learn the various techniques and strategies that must be implemented to the market for maximum output.
The first misconception I would like to address is that aspect where people think that forex trading is a get rich quick scheme, whereby you put in a little capital and expect to make millions in just a short period of time. Please if you have this kind of mind set about forex, then I would advice you to have a re-think of what you are getting yourself into. Because forex trading, like every other businesses, requires patience and hardwork before things will eventually start working out in your desired direction.
Number two misconception I want to address is the idea of most people that think forex trading is meant for the so called gurus alone. But I tell you, no matter how ignorant you are about how the whole system works, you too can still make it big in the forex market so far you can be patient enough to master all the techniques involved in this business.
The last misconception I want to take into consideration is the fact that most people think that one must be a millionaire or possess a huge sum of money before he/she can take part in the forex market. But with my vast knowledge and experience in the forex market, I can tell you that you can be a part of the forex market with as little as $50(=N=7,000), depending on the broker you choose to work with.
That will be all for the misconception aspect. I want you now to follow me down the alley to see some of the mistakes most people that have ventured into the forex market make, and how you intending or amateur forex traders can avoid them.
One very delicate aspect where people make mistakes in forex trading is the area of money management. You see, many people are so much in a hurry to make huge returns in the forex market that they unconciously lose the little capital they invested in it due to what I will call greed. In forex trading, warning is given that you should only invest what you are comfortable to lose and its only adviceable to enter into a trade with only one-third (1/3) of your total investment. But most people who are now frustrated by the forex market, are those that refuse to accept and work with the two simple principles that has turned many successful forex traders what they are today.
Now before I proceed further, I want you to add this to your memory book, that even if you already have a job, you have a potential of making five times what ever salary you are paid monthly in just two weeks or less in the forex market depending on your investment and your own trading plan.
Most people fail in the forex business because they think the forex market is where you enter and grab as many dollars as you can. But I tell you, if you fail to plan your trade, then you are also planing to fail in your trade. Like in every other businesses, you must have a trading plan to achieve success in the forex market. Now you know that a trading plan is a vital aspect of successful forex trading, how do you plan a trade?
Just as an architect plans the construction of a building from the scratch, so should a "to be successful" forex trader plan his trade in order to be sure of every move he makes while in the market. Starting with the broker he would prefer to work with, the amount of money he would invest in the market, time he would be spending daily in the market, type of chart he would be comfortable using, a specific amount of money he would be making on either daily, weekly or monthly basis. And many more which you will get to know as time goes on.
Now to the next series of blonder most amateur forex traders make that leads to their untimely exit from the forex market. Like every wise business man would do, you learn from every mistake you make in the course of the business, instead of figting against the mistake, just like most forex traders do when they incure a loss in their trade. They tend to apply a revenge style of approach to their subsequent trades, which normally leads to further losses.
When a trader incures a loss in his trade, what he should do is to look critically into the situation to see what and what he did or did not do that resulted to the loss and apply the reverse to his subsequent trades.
These and many more I will let out in my power packed seminar holding in benin this january. Watch out!

* One on one and group training is available.
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COLLINS KRIS
08068468317 08036701463 fxwealth2@gmail.com