₦airaland Forum

VlamesIffect:
Boss mii...if someone makes 1090% in 1 month & can average dat returns 3 out of 6 months..no be gambling boss

No its not gambling if they can keep it up for a year,
These things a like building castle in the sky
It's fictional and not realistic.

The best i have seen in trading was someone doing 50% monthly for more than 3 years and never blew the account.

Trading is not only about making profit, its also about keeping them too.

Always control/achieve what you can keep.

Make una dey try avoid all these Instagram/YouTube motivator, they tell you things they themselves can't do their source of wealth is far from anything trading.

altteemy:
That might be the excuse but it is a fact that stress makes traders misbehave. Though it is actually indiscipline that happens.

1090% in less than a month,
That's not trading, it's gambling.

What can't be sustained is not trading but gambling.

Doing this alone has already put you at the tipping point of emotions.

vpaymoney:
How I turned$10,000 to $109,000 from 5th September to date and my partner change in attitude towards me make me blow the account.
Btw: @gabson didn't send me any invite for the project. Meanwhile not all of we traders like to make noise here.

Best lie so far these season,
Keep it up,

My dear you ain't making noise as a trader,
You are actually a gambler.
The key to trading is sustainability
If you can't achieve that, then na gamble.

A trader that makes 1% monthly and can do that consistently is better than a trader gambler that makes 200% in two weeks and blower it in less than a month.

Feshizzy:
Depends on the TF you are looking at it from.
I'm holding my Buys on EU,
Might add a third trade soon

Buy has started today.

Note: this is not a trading advise call

VlamesIffect:
At the end EURusd & GBPUSD was a sell...copyjoe.... I Should not have close my sell trades....they use that fomc news to deceive people.....

Depends on the TF you are looking at it from.
I'm holding my Buys on EU,
Might add a third trade soon

abham:
Guy!!!! Na so people plenty for this forum and they have just been observing, chai.

Men full here na,
Most dey on observation,
This is one of the Biggest thread in Nigeria.
I remember one season like that wein dem catch one scammer for here for real life.

Not a trade call,
But damn,

This was a fine catch.

I'm closing this week with a blast.
My report card by tomorrow.

Instead of focusing on bettering your account,
Una wan dey help another pesin count him money

So these level of curiosity, whatis attainable with it?

Impatient:
Abeg, dis FTA forum/thread no get Telegram handle (channel or group)?

None now and None in the future,
Except for competition and challenges

Apart from that, make we dey assemble for here

JaypAssurance:
Please i need a loan of 50k to pay back with interest at the end of the month.
Somebody plzz
#urgent

And your name carry JayP?
Go use app borrow

Snowflakess:
Good evening house please am new to this
I just stumbled on this thread on nairaland please who go show me way as sapa wan ruin me

Please help a brother

Better unstumble and dust yourself.
Dem no dey use sapa mindset enter forex,
E go consume you. Unless say na basically read and practice.
Else no reason say you go make shishi for forex with sapa mindset

Edd1e:
Exness has been way available before Hotforex, has more trading volume, reputation and far better in terms of spread, instrument offered and deposit rates. Hotforex is just popular among Naija traders, take it from someone who uses both brokers.

They are both good brokers, just choose any

My broda,
Thanks for shedding more light on the mata,
because i don taya, Hotforex has a stronger marketing base doesn't make it better.
It's like comparing techno to a redmi device,
Because one is popular doesn't necessarily means it is overall best.

I'm glad no one mentioned Al-Pari, maybe na that one we for pull shirt

Anyway, either the two, they are both good.

dennison4luv:
I know that,their spread is a bit high but if you are a profit trader and you are withdrawing to naira account, in my own opinion they are better than exness

Ok based on your opinion and not facts,
They are better.
Ok noted sir

I'm not even saying Hotforex is bad.
But based on extensive research exness is preferred,
Hotforex is actually also in my good books.
But do more digging, not even about spread,
I didn't even notice it

It just they have better reputation than Hotforex

dennison4luv:
Are you trading to withdraw only the amount you deposited or are you going to withdraw both the amount you deposit and your profit. If you are a profit trader hotforex is the best

I'm curious,
How's Hotforex the best?

CopyJoe:
Exness: Deposit - 412

Withdrawal - 409

Hotforex - 510 Deposit.

500 Withdrawal

I got more for every profit made.

Exness has a 0.73% difference in exchange
Hfx has a high 2% difference

Don't you think if you deposit same amount in ngn you get more value in exness?

If you depo 10000
You get back.
Exness - 9927
Hfx - 9800


In forex term, hfx has higer spread.
Your choice, your call

CopyJoe:
I have moved my fund from Exness to HotForex due to the exchange rate.

C'mon man,
Exness would have been better imho,
You don't always have to look at the exchange rate,
Just look at the % difference between the buy/sell on both platforms.

You can have a 400 buy and 330 sell on one and a 600 buy and 595 sell on the other.

Which do you think has a better exchange rate?

Juicethekid:
Alright. Does the site contains videos

Forex is not funfair,
If you can't read, i would advise you look into other line of business.

Forex trading is a full course on it's own

Imho

haryodehjia:
Have been using phone to trade for a long time.. Fxblue is a new demo account

I admire your skill,
You are not exactly in profit, but the loss is very reasonable for a one year period,
The sky is your limit, just keep learning and adapting progressively to the market.

MONEY247:
I have been using a mobile phone to trade for about 1 year....(and I have never made profits)..

If you use a phone to do analysis and still take trades correctly how do you do it

I only use mobile to manage or monitor never for entry setup.
You have to treat the trade as a business, i mean like a real job.

Well the people who feels otherwise, let them be kind enough to show us their mobile trade only history for one year or even 6 months

TheYoda:
If I may ask, you trade without stop loss? and if trade goes against you, you enter recovery trade? If that's the case, better use % equity as stop loss.

Very good observation,
No i don't use stop losses,
Yes i do enter recovery trade by hedge, average or martingale which ever fits the bill.

% equity stop isn't a bad idea at one time i thought of incorporating it to my system but i rather hedge it out.

Thanks for your Input.

SULTAN22:
Hello nairalanders
I want to learn how to trade forex, I don't have anyone to put me through.
How possible is it to learn and master forex trading without an instructor or a mentor(self-learning)?

Search BabyPips register and run the course there it's free,
Don't rush it, learn it diligently,
After then, the rest should just fall in place.
If you still have questions, we would be here for you.

samfelly:
Na only Demo dis kind wonders dey happen. Not in reality. Abeg, Forex No Be Scam. One day, just one day, e go happen for real life, also. No Giving Up!!!

Try back testing and know the strength of your system.
Most people dey gamble for the market in claims of trading.

There's alot of required work to actually trade

CopyJoe:
Lol. I know you are joking. So I take it as a joke.

Na joke he dey na,

Market is too big to take a spy allegations seriously.
Obviously what we use currently in fx was invented by someone else.
There's practically no original system in fx these days
Everything is just refined.

charly20:
I was going to ask what your trading style is because you bring in P/L each week and you said once that you trade only one pair(I'm not sure if I'm correct about that last part)

Very correct,
I trade just EU

I move from scalping to swing, depending on what the market gift me.
I assure you i use a trading style the fx theological community might frown against
That's the reason my trade history is locked.
I don't want the energy or argument on my style of trade management practices

I don't really know if i should be posting my P/L weekly,
I might open my trade explorer history on the last weekend of every month.
Because i am really trying to limit attention that might lead to distraction.

Regards

CopyJoe:
Boss, I saw that huge drawdown on your account. What happened?

It is expected,
It's equity or open trade Drawdown,
From history back testing it can be as deep as 50% so i am not even moved.
No cause for alarm, Atleast yet
I won't even call it huge its just average for my kind of trading pattern

Forexislife:
Baba Try dey give us trade calls and chart make we learn na, watin we wan use summary do for alert section?

This na personal challenge,
As others dey give trade calls,
I dey give summary.
All na alert.

AfroAgroPower:
Wow.

Do you trade Cryptos too?

I can provide you with an AI Trading platform that helps you trade to earn MASSIVE and PASSIVE income as it trades "The Grid System".

I'll also provide you with a YouTube video and a Free e-book which I personally wrote and documented about Understanding and Trading " The Grid System" which I consider The Easiest and Ultimate System to trade Any Financial Markets.

.

I believe there's a crypto thread as well, you could do you hustling over there

Pumpumking:
nobody askin u for life story..do u hav yansh or not ma? this is for reseach popose!!

Don't be st..up..id here is not the thread for that.
There's enough thread already that accommodate such post
Be guided.

walukoe:
Thank you for your timely response.
I just opened an account with hot forex. They are more regulated than Octafx. I just want to know where the big guys are trading (forex) where my fund can be Safu and withdrawal easy.

The bottom line is very reliable and most trustworthy forex broker. I will look at the regulation of ICMarket and to be sure if they allow customer from Nigeria.

This is where i mostly get banned from calling names of broker. But i will do my best.
Try FBS, exness, justforex, Forexchief, liteforex they accept direct Nigeria deposit or cr... yp... to...

Run away from alapri and co.

walukoe:
Thank you for your post and the constructive criticisms.
Firstly I have more than four years experience in trading
I think I can cope with my personal business and trading. My personal business is 3years old and pays close to or more than my salary. My trading even pays more.
Another bottleneck is which forex broker to really trust, I trusted binance very well, not the same with fxtm and octafx.
I practice in the north and am getting fed up with the insecurity.
Thank you for your response.

It's not about having tons of years in the market.
It's about your consistency.
No offence, most traders here from season one don't even have a solid live account to call their own. And that includes me.
So it's not really about the years input. It's about the profit output.

I have detailed what needs to be done to go full time.
The answer lies within you.

Regards.

walukoe:
Red flags How? Have I cooked up any story? I have five years experience as a trader both crypto and forex and am still keeping my day job up until now. Just want to know how a full trader cope with trading before I quit my job. Isn't this a personal information too that I should not divulge online. I know I can be scammed too and hence reasons for being initially cautious.

.

I already posted about this before, i mean going full time in the trade business.
There's a lot that can go wrong, don't let the IG lifestyle fool you,most of them live on sponsored or mentorship funds.

To be full time, you must be very brutal with yourself first.
I personal advice you don't rely on compounding when going full time.
Make sure you have the right large capital.

For instance your monthly expenditure is 150k,
Make sure your strategy and capital matches to produce Atleast 200k monthly.
Here's a quick maths.
If your strategy give 20% monthly then your capital should be more than 1M
If your strategy produce 10% your capital = 2M
If it's 5% = 4M
If its 1% = 20M

You can only arrive to this when you have rigorously tested your strategy for over a year and very confident.
Even if you don't have the funds prop firms can give you a jump-start.

But you most first be very honest with yourself.
There's no rushing, the market is always waiting for you.
To thine own self be true,

Regards

CopyJoe:
That's not the meaning of cash flow.

Cash flow means. I trade, make profit and withdraw my profit.

I am not interested in turning $100 to $5000 before I start withdrawing.

You are also correct,
It all depends on capital as well as your monthly running expenditure.
If your do your accounting well and you spend 100k monthly.
To be able to live comfortably being full time trading, it has to correspond with your trading account.

Meaning if your strategy cough out 10-20 percent monthly.
Average would be 15%,
So you need a capital whose 15% percent would be 100k-150k.
That would be 1M in the naira,
So you need 1M to live comfortably, thus compounding might not be critical.

To live full time, it all depends on your strategy expenditure, ROI and that determines the needed capital...