Youngwiz71:
The cure for fear is knowledge..... most people are greedy in the market, most are impatient, some want to make quick money, most do not have the right psychology in the market......

there are people milking this market on a daily basis, am still learning and trading demo currently and have been consistent so far, I still intend to learn more before going live.

LEARN BEFORE YOU EARN

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.

It is just financial manipulation at best.

Youngwiz71:
The cure for fear is knowledge..... most people are greedy in the market, most are impatient, some want to make quick money, most do not have the right psychology in the market......

there are people milking this market on a daily basis, am still learning and trading demo currently and have been consistent so far, I still intend to learn more before going live.

LEARN BEFORE YOU EARN

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 !!!

fujirice:

Gbam!!!
People that make the monies don’t have the time to be training other people to come and push them off the same business they are making alot from.
It doesn’t add up for me.

Look at the likes of Dangote, Mark and the rest, they are busy either buying up other business that will pose as a threat to them or stifle them out of business.

It is only forex and marketing that these people will not let us hear word about making money.

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.

LagbajaTheBEREAN:
Funny thing, I lost close to half a mill on this ForEx talks, though it via a private investor.

I've close to $500 trading bonus to start with again but the spirit no gree me and our mentor for WhatsApp just wan cash out, Baba no wan put us through the basics at all...

Where's your location?

mular:
I built my first house in Abuja with Forex money

Which broker?

frankson1:



Where's your location?

Faraway North..

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.

ayomide3000:
Forex can actually make you rich if you have the knowledge, but won’t make you rich if you lack the knowledge.

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.

BadRadio:
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 !!!

Exactly trading demo seems easy, than going real.

Bobxin:


BTC/USD
IS THAT FOREX TRADE OR CRYPTOCURRENCY TRADE?

Crypto trade on FOREX, lots of assets are traded on Forex and offer by different brokers.

LagbajaTheBEREAN:

Faraway North..

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.

DictionMaster:


Learn the basics.

Get a reliable signal provider.

Start small and grow your account. Most importantly, work on yourself.

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

bjtinz:


Lol. Una don start. What OP said is 100% true. Forex trading will NOT make you rich. Simple.

Stop with all the motivational hot air.

Forex is nothing more than advanced gambling. End of.

Wow thanks for telling us the truth sir

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

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.

glasshouse:
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

When did Buffet start trading forex??

You motivational speakers are something else

frankson1:




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.

Thanks man however can I tap from the ocean of your experience?

Stay away from forex, binary options and any form of financial derivatives.


You have been warned for your own good.

elvhinzey:


Mr. Radio, you have said your mind as regards Forex; which is a good.one.

I stand to disagree with your notion: 'Forex won't make you Rich?'

Why would you say such a misleading thing?

Until you humble yourself to get a proven and profitable mentor; you will keep blowing accounts

OR
learn it the hard way after accruiing debts on you.

I giggled when i read the part you said,' Some Forex tutors don't have a live account attched to their name '

Funny though, but there seems to be an iota of truth in that.

So, Mr. Radio, you need to harness your trading psychology and get a mentor.

I can recommend you a course that will make you profitable depending on your pace in learning new stuffs. 'Olufukeji Ejimi Adegbeye' on Facebook.

Search for 'Sunshine Scalping Strategy' on Facebook to join his students and make your way to the pedestal of your Forex Journey.

Thank me later.

Cheers!

Koinonia

LagbajaTheBEREAN:

Thanks man however can I tap from the ocean of your experience?

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?

SavageResponse:


Stop posting this nonsense all over Nairaland.

If truly it works then you should be a multi millionaire by now and won't be chasing $9.90 all over the place!

Lol you mean they are all catching cruise

Princewill1:
All businesses that all you do is to speculate Examples: stock trading, sports betting, Forex trading, binary options, crypto currencies are all the same, nothing different. Just a change of name.

Speculation is simply prediction.

It's stupidity to call sports betting gambling and Forex trading an investment.

Gambling is 'risking money to make more money.'

Forex is bet9ja in disguise!

Lol

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

advanceDNA:


I disagree, it’s less than 1%

God in heaven are you serious

Exclusive101:
Bro less than 1%.

I have been following forex trading since 2009 n all those teaching me forex left forex to do the biz I do after I told them. Me I cannot keep pumping my money on what does not gurante a return in whatever form.

The only earners in forex are those teaching n selling forex journals. Real forex traders can't even manage demo account into profit. The dude making mouth in the front page I ready give am. 100K free if he can manage any demo I create on any platform of his choice into profit.

Oh my God!! Anything for the boys my guy, even na money to chop rice

frankson1:




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?

Still stuck with the basics.

Forms of trading, currency pairs, mt4/mt5interface, pips, bid and ask price, trading plan etc..

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

elvhinzey:


Mr. Radio, you have said your mind as regards Forex; which is a good.one.

I stand to disagree with your notion: 'Forex won't make you Rich?'

Why would you say such a misleading thing?

Until you humble yourself to get a proven and profitable mentor; you will keep blowing accounts

OR
learn it the hard way after accruiing debts on you.

I giggled when i read the part you said,' Some Forex tutors don't have a live account attched to their name '

Funny though, but there seems to be an iota of truth in that.

So, Mr. Radio, you need to harness your trading psychology and get a mentor.

I can recommend you a course that will make you profitable depending on your pace in learning new stuffs. 'Olufukeji Ejimi Adegbeye' on Facebook.

Search for 'Sunshine Scalping Strategy' on Facebook to join his students and make your way to the pedestal of your Forex Journey.

Thank me later.

Cheers!

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.

elvhinzey:


Mr. Radio, you have said your mind as regards Forex; which is a good.one.

I stand to disagree with your notion: 'Forex won't make you Rich?'

Why would you say such a misleading thing?

Until you humble yourself to get a proven and profitable mentor; you will keep blowing accounts

OR
learn it the hard way after accruiing debts on you.

I giggled when i read the part you said,' Some Forex tutors don't have a live account attched to their name '

Funny though, but there seems to be an iota of truth in that.

So, Mr. Radio, you need to harness your trading psychology and get a mentor.

I can recommend you a course that will make you profitable depending on your pace in learning new stuffs. 'Olufukeji Ejimi Adegbeye' on Facebook.

Search for 'Sunshine Scalping Strategy' on Facebook to join his students and make your way to the pedestal of your Forex Journey.

Thank me later.

Cheers!

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

1zynnvn:
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

Are you a trader? Which broker do you use that doesn't put you under one of their offshore affiliates?