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Re: What They Don't Tell You About Forex ! by studentofTruth: 11:27am On Apr 17, 2021 |
Youngwiz71: The problem with forex is beyond learning and knowledge. The broker is the key, and most of them trade in house against their clients' positions. Also, withdrawal tends to be more difficult than deposit. Why do you think most forex brokers have offshore affiliate firms for clients from helpless African and Asian countries? Why can't they offer the same ASIC, FCA, or CySEC regulation to accounts from Africa and Asia? I'm a forex enthusiast and planning to go big, but I'm still skeptical about the whole system. All the brokers I tried couldn't put me under their main firm that falls under the jurisdiction of a tier-1 regulator like the ones mentioned above. It's either SVC, Vanuatu, Bermuda, Kenya, Mauritius, Seychelles, etc IG will tell you that they don't offer services to people in this region. 7 Likes |
Re: What They Don't Tell You About Forex ! by zanshi: 11:28am On Apr 17, 2021 |
It is just financial manipulation at best. 1 Like |
Re: What They Don't Tell You About Forex ! by Nobody: 11:29am On Apr 17, 2021 |
Youngwiz71:True experts will warn u about taking Mt4/5 demo trade impressions too seriously or rate your learning progress with it... the outcomes of an MT4/5 demo account does not mirror a real account, it is not an absolute representation of a real live trading account... if you know you know !!! 3 Likes |
Re: What They Don't Tell You About Forex ! by frankson1(m): 11:31am On Apr 17, 2021 |
fujirice: Sir/Ma, in the FX market almost $7 trillion dollars is up for grabs daily. The FX market is the largest financial markets in the world and so there's enough room for everyone to grab as much as they can. 1 Like |
Re: What They Don't Tell You About Forex ! by frankson1(m): 11:32am On Apr 17, 2021 |
LagbajaTheBEREAN: Where's your location? |
Re: What They Don't Tell You About Forex ! by studentofTruth: 11:36am On Apr 17, 2021 |
mular: Which broker? |
Re: What They Don't Tell You About Forex ! by LagbajaTheBEREAN: 11:37am On Apr 17, 2021 |
frankson1:Faraway North.. |
Re: What They Don't Tell You About Forex ! by Nigga44: 11:37am On Apr 17, 2021 |
Forex is actually glorified gambling.......and a scam to a large extent. And the brokers are the biggest scammers ever! I somehow found out one time that fxpro where actually the ones at the other side of my trade. Meaning that they were the ones selling the pair that we were buying themselves. It's just like playing a football match and your opponent is also the referee. That's why they go hunting for stop losses and also freeze the platform when you want to exit a profitable trade. Smh The only good thing I took away from forex trading over the years is the ability to read and analyze charts which I now use to trade Cryptos which I find far more easier than forex. I would honestly advise begginers to stay far away from forex trading. There is a huge psychological difference between a demo and live accounts. 8 Likes 1 Share |
Re: What They Don't Tell You About Forex ! by scintillation: 11:38am On Apr 17, 2021 |
ayomide3000:Exactly. Knowledge is power. 90% of those trading forex does not have better knowledge of forex that's why they keep making mistake and blowing account. Also many are not discipline traders as a result of greed and get rich quick syndrome. 1 Like |
Re: What They Don't Tell You About Forex ! by Bobxin(m): 11:39am On Apr 17, 2021 |
BadRadio:Exactly trading demo seems easy, than going real. |
Re: What They Don't Tell You About Forex ! by omoadeleye(m): 11:39am On Apr 17, 2021 |
Bobxin: Crypto trade on FOREX, lots of assets are traded on Forex and offer by different brokers. 1 Like |
Re: What They Don't Tell You About Forex ! by frankson1(m): 11:42am On Apr 17, 2021 |
LagbajaTheBEREAN: Ouch! Really far. Take your time to acquire the knowledge first and don't be in a hurry. Don't give out your money to a tutor, trainer, or mentor without seeing evidence. A successful FX trainer always have proofs to show. 1 Like |
Re: What They Don't Tell You About Forex ! by sircrabo: 11:43am On Apr 17, 2021 |
DictionMaster: Learn the basics. Understand and Master the basics very well. Open a demo account and try to double the Money within a set time frame. Keep trading consistently. Master emotional intelligence. Understand Risk management. Minimise your loss/profit with the leverage and lot sizes. Understand your technical analysis Very. Well It's going to be a long journey, but when you learn it well, you will forever remain grateful to God This is how you should be advising newbies and not encouraging them to use signals or robots. With all due respect 3 Likes |
Re: What They Don't Tell You About Forex ! by Hassanmaye(m): 11:43am On Apr 17, 2021 |
bjtinz:Wow thanks for telling us the truth sir |
Re: What They Don't Tell You About Forex ! by glasshouse(m): 11:46am On Apr 17, 2021 |
Forex trading is not a get roch scheme., In developed countries like the US they study it in the university for 4yrs to get a first degree. Some people study it up till masters and it's called market statistics .So do you think you can just go and start making money without devoting time and following a good mentor? The answer is absolutely No . So my advice to you is go back and learn and be patient with it and be devoted and you will make money . After all the world richest man before was Warren Buffett a forex trader who was only doing forex. Reason it |
Re: What They Don't Tell You About Forex ! by TrueNigerian300: 11:54am On Apr 17, 2021 |
Forex is real and not a scam but if you have tried several times and blew up your account, it might look like a scam to you. The capital market in general apart from the fixed-income financial instruments like Bonds is all about speculation. I call it professional or corporate gambling because there is no guaranty at the end of the day. It is different from conventional gambling if you have the knowledge about how the market operates. The three most important things for success I have observed trading financial instruments are: Fear, Greed and Emotional Intelligence. The market is majorly controlled by greed and fear. Your analysis can aid you to see the market conditions and help you in your decision making. The most important thing is your ability to figure out what most people will do and go in the opposite direction of their position - this is where your emotional intelligence comes to play, but you can't read people's mind how will you then know what they will do? This is where your knowledge of the market couple with analysis will help. Always remember, others have to lose money for you to make money or you lose while they make money - everybody can't win or lose at the same time. Your analysis can not 100% be right everytime so being able to manage your emotion: greed and fear will allow you to maximize your profit and minimize your loss, this the most important thing to have at the back of your mind when you trade. Many just want to make money they do not want to put in the hardwork to learn about how the whole things work. Develop a strategy and test on paper trading and if you are 60% and above of the time right with your strategy, then it is a good one. If your strategy stops working develop another one and test - it is a cycle race. Forex is too volatile as it is the most traded financial instrument globally. Because of the high volatility I don't do it at the moment I prefer stocks but it is not a SCAM. 1 Like |
Re: What They Don't Tell You About Forex ! by Nigga44: 11:54am On Apr 17, 2021 |
glasshouse:When did Buffet start trading forex?? You motivational speakers are something else 5 Likes |
Re: What They Don't Tell You About Forex ! by LagbajaTheBEREAN: 11:56am On Apr 17, 2021 |
frankson1:Thanks man however can I tap from the ocean of your experience? 1 Like |
Re: What They Don't Tell You About Forex ! by Nigga44: 11:57am On Apr 17, 2021 |
Stay away from forex, binary options and any form of financial derivatives. You have been warned for your own good. 4 Likes 1 Share |
Re: What They Don't Tell You About Forex ! by ThothHermes: 12:04pm On Apr 17, 2021 |
elvhinzey:Koinonia 1 Like |
Re: What They Don't Tell You About Forex ! by frankson1(m): 12:06pm On Apr 17, 2021 |
LagbajaTheBEREAN: I've finished the first training that is helping me make little money. I'm going deep with another trainer but it's the time I don't have, though I'm working on it because I want to focus on FX trading. What level have you reached? |
Re: What They Don't Tell You About Forex ! by Hassanmaye(m): 12:13pm On Apr 17, 2021 |
SavageResponse:Lol you mean they are all catching cruise |
Re: What They Don't Tell You About Forex ! by Hassanmaye(m): 12:15pm On Apr 17, 2021 |
Princewill1:Lol |
Re: What They Don't Tell You About Forex ! by 1zynnvn(m): 12:16pm On Apr 17, 2021 |
You go school for 4 years, graduate, work for 10years before you become rich, but you come learn forex from YouTube, under 2 months, you think say you don sabi am, you don dey dream of Lamborghini. There are alot of profitable traders, people get rich from trading, but ask all of them, it took them.years to build the skillset. If you come with the mindset to make money, kpele. All good things take time. Cheers 3 Likes |
Re: What They Don't Tell You About Forex ! by Hassanmaye(m): 12:18pm On Apr 17, 2021 |
advanceDNA:God in heaven are you serious |
Re: What They Don't Tell You About Forex ! by Hassanmaye(m): 12:21pm On Apr 17, 2021 |
Exclusive101:Oh my God!! Anything for the boys my guy, even na money to chop rice |
Re: What They Don't Tell You About Forex ! by LagbajaTheBEREAN: 12:32pm On Apr 17, 2021 |
frankson1:Still stuck with the basics. Forms of trading, currency pairs, mt4/mt5interface, pips, bid and ask price, trading plan etc.. |
Re: What They Don't Tell You About Forex ! by BioGreen: 12:33pm On Apr 17, 2021 |
All you just need is the right information, as there is so much junk and miss leading information out there, the right toolset, and the right mentorship. After struggling for about a year to learn the art of financial trading, I finally stumbled on the right info, the right tool, and the right mentorship as the result is evident from the equity curve of my April 2021 100USD funded account. Practise, practise and practise your strategy, believe in your strategy, cut ur losses early, patience and discipline are key. Automate some of the trading processings such as SMS/email alerting you of key market structure/setups where possible The forex industry in Nigeria is growing hence let's not discourage those genuinely wanting to venture in as its a potential industry that can absorb our teeming jobless youths/graduates as against illegal venture such as yahoo yahoo Thank you
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Re: What They Don't Tell You About Forex ! by Nobody: 12:34pm On Apr 17, 2021 |
elvhinzey: You just jump in here to form Koinonia boy. You obviously have never traded forex but have "heard" and discussed about it. If you have traded forex before you will first agree with what the dude wrote before disagreeing. I was trained by Pneuma FX, Apostles own Pneuma FX. I was even trained directly by Apostle Josh himself, with attendance of some of those I'm sure you look up to as a students of the class. I was a trader for a long time with highs and lows and after my whole experience, I gave come to the conclusion that A BUSINESS YOU CAN'T CONTROL IS NO BUSINESS AT ALL That is why Ejimi and more of those people you refer to as Mentors survive on their books and trainings more than they survive on proceeds from real Trading. Stop countering people when you don't have an experience. 3 Likes |
Re: What They Don't Tell You About Forex ! by Nobody: 12:35pm On Apr 17, 2021 |
elvhinzey:your comment is a joke. Scalping strategy is gambling. You're not a forex trader. Maybe you're an investor. Investors don't like to accept the truth about forex trading just like gamblers |
Re: What They Don't Tell You About Forex ! by studentofTruth: 12:35pm On Apr 17, 2021 |
1zynnvn: Are you a trader? Which broker do you use that doesn't put you under one of their offshore affiliates? |
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