I'm a forex trader and i will be sharing my expiriences on this trade.
The main purpose of the thread is to post my trade journals, wins, loses, withdrawals.
i will be updating u guys as time goes on.
i have two accounts i use for trading; The main acct $3000+ and flip account $40+
All my trade imputs here will be strictly based on TECHNICAL ANALYSIS. I DONT TRADE NEWS.
I will also be sharing my analysis here but it will be specifically be during the weekends.
I ventured into forex in october 019 and it's been good so far though the begining was TOUGH, very TOUGH!
The pandemic destroyed the market last year but it's bouncing back gradually now.
I also trade synthetic indicies; volatility index 25&75 only.
i will also post my trade calls from there, both wins, losses and withdrawals.
I dont trade crypto .

Kudos.... also give hints and insight into the world of forex trading to help Nigerians better understand it's not a get rich quick scheme and also not a scam . Preach on son

Op for your information,

The major drivers of all the markets worldwide including Nigeria stock exchange and the so-called digital currency is

1. Coronavirus pandemic.

2. The United States general elections.


Please don't completely ignore news, from time to time listen to news.

chaotik:
Kudos.... also give hints and insight into the world of forex trading to help Nigerians better understand it's not a get rich quick scheme and also not a scam . Preach on son

lol
forex trading isn't a getrich scheme, definitely not a scam too. the problem with nigerians is the mentality the use when approaching the skill.
some are misled by the lavish lifestyle of instagram traders and think that's how it used to be.
forex is hard i must say. it takes perseverance and tough psychology to survive in this biz.
The reason many ppl call it a scam is bcz of the outrageous dreams they have on making it overnite without sweats but always learn the hard way.
Some ppl dont even learn the trade well then invest huge capital there and when shit goes south they start crying and call it SCAM.
to survive in a volatile mkt like forex, u nid a sound education of wat actually happens in the mkt. When i mean sound education, i mean a very good MENTOR.
the mkt and wat happens in it is very broad and complex, that's why u actually need ppl that are into the biz to guide u so u wont burn ur acct.
Even after mentorship, trading on ur own is another tough skill on its own. U can aactually use demo acc for practice but when u fund a real acc, then emotions start playing in, u will understand that the biz isn't for the faint hearted.
But one thing i know for sure is that if u persever in the mkt, u will neva regret it.
I have many stories to tell about my journey into the forex world but i'll tell it later. But shit ain't funny at all. made me graduate with 3rd class, girlfriend left cuz i was depressed and always sad cuz of losing big money but i thank God for today.

VeeVeeMyLuv:
Op for your information,

The major drivers of all the markets worldwide including Nigeria stock exchange and the so-called digital currency is

1. Coronavirus pandemic.

2. The United States general elections.


Please don't completely ignore news, from time to time listen to news.

yeah i know all that. i follow news very well but i don't trade it. If u must know, in forex they are ppl that trade ONLY news.
There are also TECHNICAL traders. There also ppl that combine the both.
What i'm saying in essence is i only trade based on technicals. i follow up news at forexfactory and also investement.com but i DONT trade it.
News like interest rate, cpi, employment/unemployment, central bank news release, NFP etc.
i know them all but u cant see me clicking buy or sell in anticipation of any news. that's what i mean.

forexgod:

yeah i know all that. i follow news very well but i don't trade it. If u must know, in forex they are ppl that trade ONLY news.
There are also TECHNICAL traders. There also ppl that combine the both.
What i'm saying in essence is i only trade based on technicals. i follow up news at forexfactory and also investement.com but i DONT trade it.
News like interest rate, cpi, employment/unemployment, central bank news release, NFP etc.
i know them all but u cant see me clicking buy or sell in anticipation of any news. that's what i mean.

okay I understand u now


Those two 2 events I mentioned were the major mover of price in 2020.

The reason why people get frustrated in Forex is the inordinate desire to get rich quickly overnight by over leverage trading, trying to make 100% ROI in one month, when the highest most legit biz can fetch one in a calender year is 30%, even treasury bills is not up to 5% a year.

They end up getting humbled, gobsmacked by the market.