Bornfool: Noted bro, apart from the money person dey make, forex they sweet when analysing, whether fundamentally or technically. I just dey thank God for d knowledge have acquired in this business still hoping for more.
Sure forex is a business and far better than betting. Although some approach with a gambler mentality and are soon taught a lesson by the market.
First avoid over trading, if you see there's low volume and tight range. Please sit in out. There's no fun in losing money.
Analyze your candlestick and observe a trend.
Follow what works for you. For me, I enter a trade and endeavor to close the trade same day so I'm a day trader.
Discipline is key. Avoid revenge trades.
Theres no trader that has never lost money in forex but minimize your losses and maximize your profits and you'll end up profitable.
Experience is key. Gather experience as the years roll by.
I just remembered Ogbograph, dude would want to become a millionaire within a week and end up making huge pips only to lose them and soon receive margin.
I personally have had my own fair share of margin calls along the years.
Avoid competition all you can and avoid impulsive trades too.
Special mentions Rozayx, Nado, Naijababe etc I don't know their whereabouts now but miss them.
There was confusion in the market for GBP pairs and there's still no clear cut direction and gold is undecided too as it could be making a correction to continue upwards or a trend reversal. Range is tight and instead of market to give freely, it takes away from you.
Please forex is not stock market where you buy low and sell high.
I made this devious mistake in 2007 and blew my first $100 account then opened with marketiva.
I bought GbpJpy and price kept falling and I kept buying low, hoping it would go up. For where? I received my first margin call thereafter.
As a professional forex trader with 14 years experience, I won't be trading on Monday. Let market show me it's hand first.
harizonal123: National ID card, driving license, or international passport. Name & address on it must tally with that of your utility bill(e.g light bill) or bank statement of account. Make sure the two documents you are submitting must have same name and address or you want be verified. You can't use any of the above if address is not stated
That is too strict and rigid. People change address and location often with time.
Thus it should be understandable if the address on voters card etc doesn't match with that of bank account.
They are meant to serve different purposes: voter's card for face recognition/identity and utility bill for address location.