Great to have you on board friend. I'm already putting together a team on Skype. The name of the group is 'Forex Professionals Group'.
The reason for Sype is, so we can have video conferences and meetings in real time.

Please, join us by using this link: https://join.skype.com/mQuYWKMIBbCd

and do invite your other colleagues and acquaintances, let's all work together. The earlier we start, the better for us because I believe the era of lone rangers in the Forex Wild Wild West are over.

surveycash:


Am on board

As Fund managers and professionals in this industry, surely you are strategizing for 2016 already?

Let me share with you something profoundly powerful that will hasten the fulfillment of that which you desire.

*****************************************************************************************

Visualization Using Images!

A Powerful Exercise For You

How much do you want to make from Forex next year? $1,000, $10,000 or $100,000? Maybe a million bucks? Now is the time to start to visualize them. However, for your mind to help you visualize, it will need images to work with.
So, get a piece of board, (you may call this your vision board) and stick it to the wall facing your bed.
Stick on it, pictures of US dollars, (you can use what I’ve attached here or print one from the net)

Write on the picture(s), the amount you desire for next year in very bold letters; e.g;

$100,000.00

also, stick on the board, the beautiful things you intend to purchase when you have the money. For example a nice car, beautiful apartment, a new office, new home theater, holidays overseas, etc. This is very important, as it will engage your desire and not to make the figure look too abstract.

Look at this board for a few moments, close your eyes and imagine having the money etc, and how your life is more exciting!
Repeat this when you wake and when you are about sleeping DAILY! Soon, opportunities would come your way bringing with it your desire which you have visualized.

We do this all the time, albeit unconsciously, sadly, most of what many end up visualizing are lack of money, jobs, accommodation and financial independence and it became their reality. Now, that you know what to do, don’t wait-GET WHAT YOU REALLY WANT!
One more thing about desire; desire is a very good emotion and when used right, you can literally get anything you want!

Never forget this; the stronger your desire, the quicker your object of desire will gravitate to you.

Good morning friends,

I would like to thank several of you who are calling to offer moral support, brilliant ideas and suggestions. Most assuredly, we will succeed in our desire to sanitize the Forex industry in Nigeria. Believe me! Do you have a passion for Forex, even if are not yet a pro? If yes, your place is here. Join the masters.

Together let us grow and build this industry. I cannot do it alone, neither can you. #teamrebrandforexnigeria

Now, we are going to meet with stiff resistance, we're going to be ridiculed, we're going to be harassed, we're going to be derided, and yes, there will be times when discouragement will set in, there will be times when we seem to be pursuing an exercise on futility, and this may be happening in your personal life; your business or career right now.

My message to you is, DON'T GIVE UP!

Remember the words of Winston Churchill, greatest British prime minister of all time; that saw Great Britain through during World War II. He said, "Never, never, never, never, never give up!"

Guys, thank you for reading this:

There's an URGENT need for well-meaning traders, and I mean those who have got what it takes-the professionals to help clean up the image of Forex in Nigeria. It is no news that Forex has acquired a near-evil reputation, no thanks to the charlatans and scam artists amongst us.

It is in view of the foregoing that I would humbly implore the Forex professionals and fund managers in our midst (listed below) and several others too numerous to mention, who have made huge contributions to the growth of Forex industry on Nigeria through their immense contributions here on Nairaland and elsewhere, in no particular order:
natruetalk
naijababe
infofirst
raycolz84
benpuzzy
sojman
kirinwa
fxbomovi
forexmarts
seyejohn94.
Omejoe
endfx
dboy365
JAkpayen
12ema
drpips1
iheanyiebeneze
melac
mez
willscolf
birikiti
pipsurgeon
wapmaster001
mikkeyj
ponzi
jamace
honeric01
surveycash
currentprice
Gbengazzee
Edd1e

to Join hands with me in building a platform that would give more credibility, respectability and build trust in Nigerians.

The truth is, there is so much money, I mean hundreds of billions of Naira within our financial system that many of us who are already qualified, ought to be managing by now and not the $2,000-$5,000 many are currently subsisting on. But this is not the case because previously, the players on the Forex landscape, were either scammers or honest-to-God dudes who couldn't trade to save their lives but thought they know how!

If we come together to build a platform that would be recognized nationally, we would attract millions of dollars and join the rest of the big league in the US and Europe managing billions of US dollars. I know what I'm talking about. Two of my foreign based students are already managing over $1m each in their respective countries.

Let's meet on Skype, I've already created a group on Skype for this purpose. I chose Skype because we can have meetings in real time and view documents etc. IF YOU ARE JOINING ME TO CREATE A PROPER PLATFORM AND WEED OUT SCAMMERS;

Then click this link to Join us: https://join.skype.com/e1IelrngK86x

See You There!

Thank You

Happy New Year!!!

HAPPY NEW YEAR! HAPPY NEW YEAR!! HAPPY NEW YEAR!!!

Happy New Year Edd1e! Don't just shout happy new year, please bring your other professional colleagues to see what we are doing here and join forces with us!

Edd1e:
HAPPY NEW YEAR! HAPPY NEW YEAR!! HAPPY NEW YEAR!!!

danberg:
Happy New Year Edd1e! Don't just shout happy new year, please bring your other professional colleagues to see what we are doing here and join forces with us!

I Am Working On It.....


Compliment Of The Season Sir...

Okay thanks! But you haven't signed up yourself. Please, click here: https://join.skype.com/e1IelrngK86x to join our Skype group.

Wishing you many happy returns!

Edd1e:

I Am Working On It.....


Compliment Of The Season Sir...

danberg:
Okay thanks! But you haven't signed up yourself. Please, click here: https://join.skype.com/e1IelrngK86x to join our Skype group.

Wishing you many happy returns!

I'm on board already, remember ""......

My bad! Forgive me didn't it was you.

Edd1e:

I'm on board already, remember "Sodiq"......

danberg:
Exactly! The reason for this thread Surveycash. Before SEC comes into the picture, there would have to have been very notable commercial activity in Forex investing etc, as seen in other sub-sectors of the organized private sector to get their notice. By then, many of the highly placed and those in government must have heard of it or participated themselves, then and only then can legislation come into play which will not only legitimize but also give official recognition to this currently prostrate sub-sector.

SEC would be directed and their mandate expanded to regulate the sub-sector, like NFA and CTFC do in the US and FSA does in the UK. And then much more money, especially corporate funds would pour into the Forex hedge fund industry as you rightly mentioned. But then, if we do not buckle up and get our acts together instead of being the go-it-alone, individual lone-ranger-fund manager/Forex trader, how do we create the momentum that would get the government and it's relevant agencies to notice and do the needful?

We need to synergize and generate the needed momentum, through creating a respectable platform that can would project a strong credibility brand, while also sensitizing the public through dissemination of the right information about Forex and also through sound educating. We would achieve success when every trader who dreams of managing reasonable funds knows that he needs to be verified and approved by our platform before any serious investor would even take notice.

Astute Financials had the vision already hence the first Nigerian/African corporate financial investment advisory company, with core financial technical analysts with extensive financial trading and investment experience under this platform.

We believe there is a future for this aspect of financial investment hence our commitment to providing secure and reliable financial investment advisory services for investors since 2012.

Nice ob though.

Happy New Week Friends!

I trust you're all enjoying the new year already? Well, as professional traders, we all have interesting experiences to share. I have lots and lots...both from my personal experiences and also from the experiences of the hundreds of people I have trained and tutored over the years as well as that of other traders told me by themselves. Of course, names would be changed to protect the identities of the persons in the stories.

Enjoy!

This Serie is titled:

***INCREDIBLE ACTS OF STUPIDITY***

Benin City, Nigeria

Jude, a computer repairer got trained to trade Forex and became incredibly good. Very soon, he was devoting more time to Forex than to his craft. He soon funded a live account with $5,000 and begun to trade it up. Not long after, word got out that he was Wizard and soon, people began to gather to see what he was doing. As time went on, the crowd of onlookers grew, and so did his Forex account. Soon, his $5,000 account had reached $100,000!

Now, Jude had a pretty wife, Ruth who was a very devoted wife. What she lacked in post-secondary education, she made up for in her dark flawless skin and a white toothy smile that could melt an iceberg. Jude had carried her along on his Forex journey and they were both enthusiastic about his remarkable progress. However, all went well until she suggested they begin withdrawing their profits. Jude would have none of it. He wanted to get it up to $1 million! He needed to setup a mobile phone assembly company, computer assembly company among others. Why was she so myopic and unnecessarily greedy? His wife felt insulted and shut up. He even blamed her lack of tertiary education on her attitude. She promised never to bring up the matter again but also told him to blame himself if anything went wrong.

Then one day, he received an all-important visitor: his very own Forex Master!

He was so elated by the tutor's visit that he enthusiastically introduced him to the crowd who usually assembled at his shop day in, day out to watch him trade. The master by name Jonathan, began nodding and waving his hands in response to the thunderous and rapturous applause from the visibly elated and awe-struck onlookers. After the noise subsided, he cleared his throat and thanked his audience and soon delved into one of his salesman-like speeches that caused his audience to latch unto his every word;

The whiteman had for several years plundered and pillaged the land of the blacks, everyone must have heard harrowing stories of what our grand parents and their forbears went through in the hands of the foreigner. But then, our great mothers laboured in prayers to the Englishman's God to avenge they and their children for all the suffering of slavery from colonial masters. Sadly, all passed on without seeing their wishes and prayers fulfilled. In the end, like the children of Israel, God remembered his people and taught him and other special Nigerians how to siphon money legitimately from the whiteman's banks abroad. He decided to teach others so they can also take back their share of the whiteman's loot, and that is how Jude learnt to trade Forex, which to God be the glory, he's been doing successfully!

The audience went spiritual, with many waving their hands and some looking up expressing thanks mostly in their local dialects. Jonathan, waved his hands to hush the audience. 'Jude has done me proud by taking a $5,000 account to $100,000!' he continued. 'Therefore, now that I'm here. we'll see what the boss can do!' He went and sat behind Jude's desktop computer and got busy. Now, Jude's trades where being projected using a first-generation projector to a white wall opposite him.

In the meantime, Jude thanked the audience and after wishing them goodnight and seeing them out the gate, came back into his workshop. It was almost 9:00pm. After placing all his trade orders, Jonathan was escorted by Jude into the room and parlor behind his workshop which he shared with his pretty wife. She welcomed him happily and after a delicious meal of eba and okra soup with assorted fish, Jonathan bade his hosts goodnight and retired to their room while they re-arranged their parlor into a make-shift bedroom.

Jonathan rose at 5:00am and woke Jude up to open the front gate for him. There was no light and Jude was rather surprised as his guest had not told him he would be leaving that early. He thought of the trades his mentor said he would place, wondered if he should put on the generator to check on them but then the thought of the stress of bringing out the generator and opening his workshop swayed his mind, and so, he rejoined his wife on their mattress. She turned to face him, mumbling intelligibles in her sleep. Soon, he was also fast asleep.

Jude woke a little late rushed into his workshop after quickly brushing his teeth and rinsing his face. He tried to put on his generator as electricity was yet to be restored, all to no avail. After calling the mechanic to work on it. He returned inside his house to take his bath and have breakfast. An hour later, the generator was still not working. He fidgeted around a little and was about to go and look for one to hire when it suddenly sputtered to life.

Thanking the mechanic, he quickly connected the power and booted his computer, connecting his modem at the same time. It was 11:15am. Soon, he heard the familiar sound indicating his MT4 trading terminal was connected to internet. He sat down with bated breath and quickly scanned the terminal, his eyes took in several trades running in a blur; moving quickly to where 'equity' and 'balance' where usually displayed. He took one look and let out a shriek falling off his chair, his head hit the stone floor with a dull thud, knocking him 'offline'.

Ruth his wife was washing up in the kitchen at the back when she heard him shriek. She hurriedly rinsed her hands, wiped them on her wrapper and rushed in, almost tripping over her husband's unconscious form. She cried with her hands to her head and did everything to resuscitate him, and soon returned with a bucket of cold water which she poured on him. He coughed once, twice as he came around. Then her eyes were drawn to the monitor screen. She moved close, read what was at the bottom left of the terminal and promptly went 'offline' too.

Account balance = $5,000!!!!!!!!!!!!

Good morning comrades!

I trust y'all good? Do remember we are meeting on Skype by 6:00pm today! We got a lot to deliberate on. Since it's an online meeting, I hope we'll keep to time.

Do have a blessed day!

Hi friends,

We had a great meeting yesterday evening! It was really good to meet with several of you from different parts of Nigeria at the same time! So, I'd like to thank those of you who took time out of your busy schedules to be in that meeting. We looked into the salient issues bedevilling the Forex business sphere, and we are currently brainstorming on a framework that would help sanitize this industry and also we're looking at curbing the unholy and sharp practices of rogue Forex brokers among others!

We might form committees when next we meet; these would be tasked with the responsibility of drawing up proposals that we would be the launching pad for our mutual goals.

Next meeting is Thursday, 14th January, 2016. 6:00 pm [1800 hours] prompt!

DON'T BE TOLD, BE THERE!!

I trust you're all enjoying the weekend already? Well, as professional traders, we all have interesting experiences to share. I have lots and lots...both from my personal experiences and also from the experiences of the hundreds of people I have trained and tutored over the years as well as that of other traders told me by themselves. Of course, names would be changed to protect the identities of the persons in the stories.

Enjoy!

This Series is titled:

*****LUCKY BASTERDS!*****

Accra, Ghana

2010

Obafemi is a Ghana-based Nigerian hustler who fled the wrath of people he had collected money from in Lagos ostensibly to trade Forex so they can earn returns. He had instead invested most of the money in HYIPs and predictably lost them to the crooks behind these schemes. While in Ghana however, Obafemi began honing his Forex skills and spent the rest of his free time browsing online. His online efforts soon yielded fruit as he hooked up with a pretty doctor, Maryjane on facebook who turned out to be infatuated with him.

Obafemi had described himself to his facebook darling as a successful business owner and after a few months, she invited him to come over for a visit. By this time, they had already professed love for each other and were already talking about a future together. However, there was one problem; Obafemi was broke. As it turned out, Maryjane was from a rich family in Benin and was completely unaware of her hubby's true financial state.

The idea of a trip to see his darling in Nigeria ordinarily should have been a thing of joy for Obafemi but his economic woes caused him to despair as the agreed date drew near. Earlier, he had given reason why he thought the trip should be suspended and had even postponed it twice and now, he had run out of ammunition and was already resigned to his fate when Maryjane called that fateful morning; two days to his agreed arrival date to say that she wanted him to buy her several bales of Ghana wax; a beautifully designed native cloth manufactured in Ghana, and certain other accessories and so, she was sending him money that day.

With bated breath, Obafemi asked what gift item she wanted from him, to which she replied that she would be okay with gold jewelries, shoes and chocolate. Well, the money got into his Nigerian bank account that same day. The money amounted to quite an amount. It was half a million Naira. He had begun to rejoice and thank God that he now had money to buy her gift and pay for his trip, when he got a text message from Marjane detailing the list of items and their quantities. Not one to be deterred, he put a few calls through inquiring how much those items would cost. The answers were sobering. He discovered that what would be left after all the purchase would be barely enough for a bus fare not to talk of plane ticket or gifts!

Suddenly, he hit on a bright idea! He was going to fund his Forex account with the money she sent and spend the whole of the following day trading it, that way, he hoped to not only get her what she had ordered for but also have enough money to fund his trips to Nigeria well as buy her gifts she wanted!

So, off Obafemi went to the e-currency exchanger's office to carry out his bold and daring plan....to be continued!!

He went into a GT bank somewhere in the city centre to retrieve the money sent him by MaryJane and continued on his way to the exchanger's office, next to the Inland Revenue service. After exchanging his cash for Liberty Reserve, an e-currency, he returned home and transferred the e-currency to his Instaforex trading account. It all amounted to 2,000 Liberty reserve dollars.

Obafemi sat with his face in his palms and stared at his laptop screen. His heart did a somersault when he thought of what would happen if his Forex trading did not go well. He only had the next day to trade as he had to buy her stuff and travel the day after! He spent some time on his bunk bed, studying the charts like he was preparing for a major exam the following day! After downing a loaf of bread with chocolate beverage, he retired to bed by 10:00pm and was up 2 hours later.

He prayed pleading that God will have mercy on him so he doesn't mess up. He prayed till the wee hours of the morning and then went back to bed. That day was a Thursday. He decided to fast that day and so, had no breakfast. Trading soon started by 8:00am on the dot. He soon identified a trend on GBP/USD and EUR/USD and started scalping those currency pairs with his heart in his mouth. Soon after he started, Gifty, his room mate's girl came around trying to get his attention, waving her bumshort-clad backside in his face. But Obafemi wouldn't budge. Something very serious was at stake.

Everything went well in spite of his fears and by 4:00pm, he had doubled his trading account! He was so elated and danced around singing. Without wasting time, he logged on to his broker's website and withdrew the entire amount to his Liberty Reserve account. Usually, e-currency withdrawals take a few hours. He got up and started throwing dresses into his travelling bag, saying to himself, 'Nigeria here we come!'

By 7:00pm the next day, a Friday, Maryjane had already touched down at the local airport in Lagos and commuted to the Arrivals lounge of the Muritala Mohammed International airport to wait for her darling whom she would be seeing for the first time since their Facebook odyssey began. After what seemed like eternity, Obafemi's ArikAir inbound flight was announced. Soon, there he was, waving a small placard with her name on it.

Later on, in their hotel room, Obafemi unwrapped her gifts to Maryjane's shrieks of delight followed by an overdose of hugs and kisses. As these happy moments unfolded, Obafemi's mind went to what he did to get the money and thanked Baba God in his heart and Forex, for giving him a lucky break!...The END

Hello friends!

********* MANAGING FUNDS FOR FINANCIAL INSTITUTIONS: WHAT YOU NEED TO KNOW! ***********

There is something I would like to share with you. I have spoken to a lot of Forex traders here in Nigeria and made the following deductions from my study and discourse with them. There are some of us who really desire to manage large funds for corporate entities. This is a normal aspiration for any professional trader. However, the reason many of us have not been able to breakthrough to this level is that we have not been able to fulfill the often stringent requirements of these financial entities.

Many think that all they need is a good trading statement that shows "two years of successful" trading activity but it is a lot more. Firstly, what do you consider a good trading statement? You might think all you need is a statement that reflects monthly profits only but then it is a lot more than that!

Apart from the fact that your trading statement must show good money management, it must also show informed use of risk management tools, low drawdown, good Risk/Reward Ratio, good Win/Loss Ratio, good Sharpe ratio and Cayman ratio among others.

Now, if you want to manage funds for banks, mutual funds, pension funds, insurance firms and the like, in Nigeria for example, you would need a SEC licence which would only be given after you have successfully passed your ACI exams and have been duly certified. Note that banks will not give you funds to trade. It is against their policy but you may be employed as an in-house trader. However, other financial institutions may, provided you have passed your exams and have been duly certified by ACI and also licensed by SEC. Note that you have to pass the ACI Dealing Certificate exams before you can sit the ACI Diploma exams. These certificates are required if you want to be licensed by the SEC to manage funds as a corporate entity.

So, do you dream of managing large funds for big financial firms? Then download the ACI Dealing Certificate Syllabus and begin to study today. Also, start building a credible financial trading statements that will pass the tests financial firms will subject it to when you present them two years from now.

I only have the 2012 Syllabus, you may need to get the one for this year.
These may help:
https://acifma.com/aci-dealing-certificate
https://acifma.com/aci-diploma
http://www.finance.gov.mk/files/u11/Description_ACI_2016.pdf

Wishing you all the best!

Feels great to be part of this

danberg:
Hello friends!

********* MANAGING FUNDS FOR FINANCIAL INSTITUTIONS: WHAT YOU NEED TO KNOW! ***********

There is something I would like to share with you. I have spoken to a lot of Forex traders here in Nigeria and made the following deductions from my study and discourse with them. There are some of us who really desire to manage large funds for corporate entities. This is a normal aspiration for any professional trader. However, the reason many of us have not been able to breakthrough to this level is that we have not been able to fulfill the often stringent requirements of these financial entities.

Many think that all they need is a good trading statement that shows "two years of successful" trading activity but it is a lot more. Firstly, what do you consider a good trading statement? You might think all you need is a statement that reflects monthly profits only but then it is a lot more than that!

Apart from the fact that your trading statement must show good money management, it must also show informed use of risk management tools, low drawdown, good Risk/Reward Ratio, good Win/Loss Ratio, good Sharpe ratio and Cayman ratio among others.

Now, if you want to manage funds for banks, mutual funds, pension funds, insurance firms and the like, in Nigeria for example, you would need a SEC licence which would only be given after you have successfully passed your ACI exams and have been duly certified. Note that banks will not give you funds to trade. It is against their policy but you may be employed as an in-house trader. However, other financial institutions may, provided you have passed your exams and have been duly certified by ACI and also licensed by SEC. Note that you have to pass the ACI Dealing Certificate exams before you can sit the ACI Diploma exams. These certificates are required if you want to be licensed by the SEC to manage funds as a corporate entity.

So, do you dream of managing large funds for big financial firms? Then download the ACI Dealing Certificate Syllabus and begin to study today. Also, start building a credible financial trading statements that will pass the tests financial firms will subject it to when you present them two years from now.

I only have the 2012 Syllabus, you may need to get the one for this year.
These may help:
https://acifma.com/aci-dealing-certificate
https://acifma.com/aci-diploma
http://www.finance.gov.mk/files/u11/Description_ACI_2016.pdf

Wishing you all the best!

I love this

Hello friends,

Trust you enjoyed your day? well, there's something here for you to chew on...saw it online. Happy reading!

Who is a disciplined trader?

A disciplined trader…
• Has a well-developed, yet simple and practical system.

• Trades only when there is a strong and perfect trade setup. He doesn’t mind not to trade for several days. He is like a hunter. He doesn’t
waste his bullets when he knows that the prey is not close enough.

• Doesn’t look for new trading systems every day, because he has come to this conclusion long time ago that his own trading system is the best for him and he has the best result with it. He also knows that there is no Holy Grail system and “grass is not greener at the other side”.

• Sets a proper stop loss for each of his positions and never makes his stop loss wider when it is about to be triggered by the market.

• Never lets a profitable and nice trade to be converted to a losing position because of maximizing his profit and breaking the others’ records. He knows where he will be out as soon as he takes a position.

• Never tries to make a huge profit by taking too much risk. He is always loyal to his Risk/Reward and money management rules.

• Never gets upset when the market hits his “reasonable stop loss”.

• Never regrets when he misses a strong movement just because the trade setup that was formed before the movement did not look strong and perfect enough.

• Doesn’t get overconfident when he achieves several winning trades or even several winning days, weeks, months and years.

• Doesn’t lose his confidence when he has a losing position, day or even week or month.

• Doesn’t take a position just because the others have the same position or he has read or heard somewhere that a currency will go up/down against another currency.

• Doesn’t take any position based on his thoughts. He trades based on the signals that he sees on the charts.

• Doesn’t over-analyze.

• Doesn’t over-trade.

• Doesn’t see beyond obvious. He just sees the signal which is in front of his eyes.

• Is not greedy.

• Has no fear.

• Doesn’t exaggerate about his success.

• Is humble and helps the novice traders to find the right way easier. He never misleads the other traders, specially the novice ones. He is aware of “Karma”.

• Is…fill in yours, [laugh]

• Doesn’t…?

• Is…?

• Doesn’t…?

Are you such a person and trader, or you are trying to make money through forex trading while you have not reached to such a level of confidence, discipline and personality?

Hello! fellow professionals,

Trust you're enjoying your Sunday?

Please be reminded of our meeting today on Skype by 7:00 pm (1900 hrs)

Thanks.

Some days ago, I got the sad news that a former colleague and business associate who ran a hedge fund had taken to drugs. I was horrified! Apparently, he had recently gone through a major financial crash; the biggest in his career as a fund manager. Scores of clients were left high and dry when his firm announced they had lost more than 80% of trading capital. This development did not go down well with his clients and some threatened legal action. Soon he was incarcerated and charged to court.

However, things took a turn for the worse, when after his release, he could not get his trading back on track even after several months. This development must have taken a heavy toll on him causing him to seek solace in hard drugs.

Now, this is just one out of so many cases of 'burned out' fund managers. The question is, after going through a rough patch. How do you get back on track? It may not be easy! It's more like getting a derailed train back on the tracks! But it's definitely possible. Let's explore what to do!


****************** RE-BUILDING CONFIDENCE IN YOUR TRADING ************

Even as experienced traders, sometimes because of certain reasons, we might find ourselves experiencing a losing streak which may sap our confidence and then cause us to begin to wonder if something is wrong with us? Maybe you 'burnt' a margin account or series of accounts in spite of your years of trading experience and now, you are not so sure anymore. Just when you thought you had conquered the markets! Now there is a sneaky fearful feeling somewhere that you just might 'empty' another account! This is where you need to pay attention; that sneaky feeling is a symptom of a major deficiency-the deficiency of confidence-which would lead to more 'burnt' accounts.

Now, confidence is a HUGE factor in trading. On the one side, the lack of it can create all kinds of anxiety and fear, over-thinking things, and not being able to pull the trigger (analysis paralysis). On the other side, too much confidence can lead to being cavalier with risk and taking poor trades. In this particular article, I’m going to focus on building confidence.

Start Slowly
If you burn an account, there’s no need to rush into trading again. In fact, I would suggest you take some weeks or a few months break off the markets to allow your emotions 'reset'. The Forex markets aren’t going anywhere, after all. Give yourself time to re-learn and re-appraise your skill set. Trading is like any other activity. It takes time to get up to speed and develop the required competency.

Check Your Foundation
If you dive headfirst into trading without taking the time to think things through, you’re definitely more likely to be part of the majority who fail rather than the minority who succeed. For example, were you using a trading plan? If not, work your way through the process of developing your trading plan, including the best trading time frame, the optimal market, and the style of trading which best suits you. If you’ve taken the time to sort this stuff out, it will help to give you confidence in your trading as you move forward.

Practice, Practice, Practice
Athletes practice skills to gain mastery and to be able to execute them under pressure without thought. Traders should do the same thing. There are all kinds of different demo trading accounts available these days. No matter the market you trade, you should be able to find a free platform of some kind that will let you practice trading without having to risk real money in the markets for the time being. You should practice using your trading system or methodology to gain confidence in your ability to trade it effectively once again.

Go to Live Trading Early
I am a huge proponent of dipping your trading toes into the live markets as quickly as possible. Once you are done re-assessing and mastering the mechanics of your trade strategy using a demo account, it’s a good time to start playing for real. At this stage, however, it’s not really that much about profits and losses. It’s about your trading psychology.

Start Small
When you make the move to return to live trading, do so with the smallest amount of money you can reasonably get away with. And do not rush it. What is important at this stage is not how much profits you make but how much your confidence is being restored as you progress.

Practice Some More
At this stage, be very meticulous enough to take note of important clues which may have been responsible for your initial losing streak. Take notes, then, go back to demo trading once more to really solidify your final trading action plan. This is just like being an athlete who using their experience in games to fine tune things during practice to get ready for the next competition. You should do the same thing as a trader.

Ease Your Way Into the Market
Working through the steps outlined so far should help you become more confident in yourself. Even still, you don’t want to go piling into the market. Take it slow. Allow your comfort and confidence in real-money trading to build gradually by starting small once more. You’re still going to make mistakes (though hopefully fewer by this point), so keep their cost down and their impact on your confidence to a minimum. You’ll also invariably take losses. That’s something you’re going to have to learn to live with. It will probably take a bit of time, but that too will be helped if the losses are small. As you feel more comfortable, gradually trade larger, working your way up to the level of risk and exposure which suits you best.

Cheers!

Hello friends,

I want to express my dismay at our inability to meet to chart a way forward in this industry for our collective good as earlier I have enumerated here time and again. It is not good that we resolve to get something done and then get off the boat when we haven't even gotten things of the ground yet. I think we are not taking this drive towards creating a veritable platform for the betterment of all seriously. I am doing what I am doing here without any desire for personal gain but for collective good.

Kindly, rethink your actions!

Have a great week

@danberg,
Kudos to your effort so far. If you are based in Lagos, I would like to suggest an offline meeting for a start (to gain traction), which can now be taken online after a while.

It's the same principle of "start small" in FX, though the online model has a higher potential of reach.

Meanwhile, thanks for your jokes (or r they true life stories?). I'd like to personally meet with you. You can holla at 08028328730. Ciao!

Thanks Mustard. I will look into that after my trip outta Nigeria. Hopefully, we'll see then. And yes! They are true life stories.

Mustard:
@danberg,
Kudos to your effort so far. If you are based in Lagos, I would like to suggest an offline meeting for a start (to gain traction), which can now be taken online after a while.

It's the same principle of "start small" in FX, though the online model has a higher potential of reach.

Meanwhile, thanks for your jokes (or r they true life stories?). I'd like to personally meet with you. You can holla at 08028328730. Ciao!

Well-done danberg,I am with you.

Thanks bruv

Goldmann1:
Well-done danberg,I am with you.

Hello everyone!

It's weekend! Let's cool down after a tough week at the markets with an episode from one our beloved SERIES. So grab some popcorn and coke and ENJOY!

************* DUMBASS DAREDEVILS ************
(AMAZING ACTS OF STUPIDITY)

Year: 2007
Yaba, Lagos-Nigeria.

Jaiyeoba was one weird, curious dude that loved taking risks. For instance, he had dropped out of college not necessarily because his mum could not afford his school fees, but because he wanted to prove a point; which was that one didn't need a university degree to succeed in life.

Apparently, he had been lured by the promise of wealth when an old friend of his mum came around to their home to introduce her to a multi-level marketing business named Tianshi. She had flashed her expensive jewelry as she conversed animatedly with his mum, displaying pictures of brand new SUVs she claimed were to be given to her and a few friends with her in the business.
Naturally, Jaiyeoba’s decision did not go down well with his family who soon began to treat him with disdain. Shortly however, he relocated from his native Osogbo town in Osun state to Lagos to get his dreams on track. With a little loan from a friend, he got registered for the multilevel business and soon got busy talking to everyone about Tianshi and also trying to sell the large quantity of food supplements he had paid for.

Two years had come and gone and Jaiye was nowhere near his dreams of wealth and glory. The only significant difference was that now, he was darker, slimmer and his clothes and shoes were worn out. It dawned on him that he needed to start doing something new and fast, if he was not to become a major source of embarrassment to his family. It was one of those evenings while taking a stroll along the Old Yaba road, that he saw a flier that attracted his attention. It read, “EARN $1000 WEEKLY!! LEARN FOREX TRADING TODAY!!!”. He did not know what Forex trading was, but the allure of the possibility of making a thousand dollars weekly was too much to ignore. He quickly copied the contact phone numbers and saved them.

******** FOUR MONTHS LATER *******

Chief Bolade Philips stared at his young nephew over the rim of his spectacles. He knew Jaiyeoba to be a rather unstable young man but one could not but like the chap; he mused to himself. For one, he was very well mannered because of his good upbringing and he had heard that he was very brilliant. Why he had decided to jettison tertiary education was all the more baffling to him. Ironically, Jaiyeoba’s mum had insisted he must complete his law degree and footed his bills till he was through with Law school; after his father had insisted he was not going to pay his school fees over what she considered a simple misdemeanor.

Being a Lagos-based lawyer for over two decades had among other things, helped Chief Philips to smell a nice setup when he saw one; this idea of setting up a Forex trading business would be an opportunity to earn a lot of side income as well as setup his nephew-a good opportunity to repay some of the debt of gratitude he owed his mother. He looked again at Jaiyeoba for a few moments and then reached across his expansive desk for a wine-colored table phone, punching in some numbers while still retaining his gaze on his nephew. “Hello, Olanike longtime! How are you and work?” “Hello, Chief, Chief! All is well oo. Nice hearing from you” replied his lady friend, a manager of a new generation bank somewhere on Lagos Island. “My nephew came in here to discuss with me about starting a business called Forex trading…”

- To be continued..[b][/b]