Years back, I started to seek how I could make extra money while working my normal job. I tried, forex, binary options , crypto etc. I actually failed in all of them, but was progressing in my job. Being a naturally determined person I forrayed into forex again, seeking tons of materials podcasts at my free time. It was tedious at first, because I didn't get it right.
However, I decided to remove greed and improve my skills, while relegating it as a side hustle. This was when I started to make progress. Over a year, I grew my account with over 300%.
Late last year, I find out that income from my side hustle had far outstripped that my from my career income. This is because of exchange rate. At a point I am considering quitting my job.
The point is what are you doing as a young man to stay afloat in this harsh economy with high inflation rates and falling naira?...

With the rising Dollars to Naira exchange, inflation, high cost of living and unemployment, Forex trading is a way out.
Many have reservations for forex trading due to losses, scams or fake promises but forex trading still pays. You can make a sustainable income trading forex.

Many Nigerians are aware of forex trading either by venturing into trading in the past, giving money to "professional" to help them or involves in high riding schemes that have failed them.
Is forex trading a scam?
Is forex trading Gambling?
Do people really profit from trading?
Or is forex trading just a hoax.
Many people lack discipline and patience to create wealth.
Forex trading imbibes basic principles of hardwork, perseverance, goals, discipline and focus. However, many venture I to this project day dreaming and seeing themselves and millionaires before learning the real art of trading.
Like any other profession it requires months of research, hardwork, knowledge and skills.
Also, not everyone will become successful in forex. In everything we do passion and talent play a key role.
I have spent 10 years in this game, the reason 90% of peers lost out was that they felt they could get rich over night by " playing" with forex. Many crashed out frustrated , some came back seeing me as a motivation.
Forex still pays

When I have up to Visas to at least 27 countries including European, US, Canada and some Asians countries

People ask these questions everyday because millions are still losing money. When I started learning forex, I always meet people online who always tell me how good they are or are making millions of $$. This mentality drove me into the market with greed, inexperience and frustrations. After years of research I discovered that many people who make noise on the internet are not real traders. They either make money teachi(theories) or running Ponzi scheme scamming people or selling robots. But there are silent genuine traders. I was fortunate to meet one in 2010. I saw his account of about $220k. This accelerated my interest in learning forex. Not intily 2015 I began to get it right after series of losses. Don't let people decieve you you can't get rich quick through forex. It's not a Yahoo business. With time you can build your self and your income to become a millionaire. I started with $10k in 2018 and my account is above $300k now. It is possible to make money from forex. The questions are are u ready to take risk? Are u ready to put in hard work? Are you ready to be patient? Do u have discipline? Do u have the required capital?. Don't expect to transform $100 to $10000 in a month, it is possible, but it will end painfully. In summary, forex is a legitimate business that is still profitable only to a few people who are ready to dig in... But Everybody can't be a forex trader!

Mnay nigerians are familiar with forex trading directly or indirectly, but over 70% have lost their investments through trading, robots, FX managers or ponzi schemes. Yet they keep putting in their hard earned money despite the rising dollars believing that one day like Betting, they will hit jackpot.
At the end of the day brokers and scammers are cashing out.
Why are they hooked in this circus?
Greed
lack of proper education.
Poverty and unemployment
Forex is like any other profession, dont mind people telling you that within 6 month you can master forex and start churning out profits. This is a lie! It takes months or years of study, practice to master the act of making money from this ruthless market.

Secondly, forex is not meant for poor people. You can be trading with your last card on an empty stomach without a proper job. You will keep day dreaming and wasting your time and little resources.
Lastly, forex is not a get rich quick scheme. You have to have the reqired patience and technique.
Dont give out your money to a "manager" if you can not monitor his progress or control your funds.

Forex is still a very profitable business...but not an easy road meant for everyone.

That's the problem with many losing traders...always use the "you see MR.A , MR.B", " i read", " My mentor told me this", Real traders share their person experiences, their learning curves, how they adapt..etc. How can someone be risking 50% @ 5 pips stop loss ? No wonder so many brokerages are springing up everyday.

Babara1994:

Retail traders don't deal with banks at all? Who then is responsible for liquidity grab?
And you don't use stop loss? When the best traders use 1pip stop loss per trade
And you are a profitable trader?
And you see people use 5pips stop loss, risking 50% of their account?

You clearly don't trade forex. Happy blowing, newbie!

Babara1994:
Forex is a big scam. Only brokers and banks make profit. You're never gonna make consistent profit in Forex because you'll be hunted by the banks. They see your SL every time you take a trade and will hunt it.
Op is probably working for a broker. How sad.

That is not true. I dont know what you mean by banks! Retail traders dont deal with banks, and banks trade too. For brokerages , there are unregistered ones who will take your money. Like every other business, you need to do research and study, i dont use stop loss or at most my stop loss is very big(when i see news is around the corner). I see people using 5 PIP STOPLOSS on A VOLATILE MARKET RISKING 50% OF THEIR ACCOUNT, this is gambling not trading. I risk 1-2% of my account at each trade with a minimum of 6% gain...if i take 5 wins and 2 losses, my account is growing. But many traders want to hit it big overnight and start living large, Forex like life doesn't work that way. People still make profit and are making profits

Why are More brokers are springing up daily?
Why are More people are opening Forex accounts?
Why are More people are losing money?
Who are the losers and gainers in the Forex market?
Forex is a skill that requires time, money , knowledge and experience. It's as difficult as any STEM fields , but you are not guaranteed a fair income like most professions. This make it one of the most difficult professions in the world. Most ponzi schemes will come out with guaranteed success, many "professional" traders will offer training with a high fees, many developers will come up guaranteed bots/EAs. If these folks are scrapping from the multi-billion dollar industry, they wont have time to scribble over crumbs for newbies. There so many scams hidden inside Forex especially in Nigeria, where there are no regulations and people are losing money.
Forex is a profitable business, i mean a lucrative business. But how many people are patient? How many people are willing to pay that sacrifice?
I ventured into Forex in 2006, but started making real time profit in 2014. Imagine the years, the money the time and sacrifice! Yet, am still developing, but the difference is that am making profits. Many Nigerian don't have patients to grow. They don't understand why that 1-2% growth of $20 will grow to $20,000 in years as your profit begins to compound. They want to use $100 to make $1 million in few months , so that they can ride that posh car. It is possible, but you must have patients.
Avoid Forex tutors charging you.
Avoid managers promising you huge guaranteed returns
If you are going to choose a manger, choose the one with very low returns while you are in control of your funds. Don't hand over money to anybody.
You can make it, but have the right mindset.
Forex is not a scam, Forex is not gambling. Forex is still and will still be profitable.

It is is a mini account, 5.0 is translates to 0.5, I need not explain this to you as it's a matter of common Sense. My idea of putting up a live Account is for transparency, not competition.I will encourage traders like you to do the same so that everyone will learn. I manage other accounts up to tune of $350,000, I can also give out the investors passwords so that people will see it's real. No need to show off, this is how I do it as everyone can see. People are tired of "pros" coming online to claim how good they are without shred of evidence. At least I have taken a step let others follow. This is why I created the thread. Let's rub minds using real accounts data

fados4sure:

You're entitle to your opinion.... I have been trading since 2007 and use profits made from Forex to further my studies in Cyprus and UK...

With $500 account, you're trading with lot of 5.0 which is way to high and all I expect you to say was to probably convinced me that you were scalping instead you're saying something else.

It depends on what you understand by money management.
Live trades is different from textbook applications. I have been doing this for years. It all about profits..you can have all the the money management in the world and still can't make profit! Forex is about opportunities Thanks. Can I see your account to see how you apply money management?

fados4sure:

Your volume is too big. No money management rules at all

It's Investors password, you can only see the trades, but can do anything unless you have access to real password . Thank you

Abbeytherabbit:
Boss take the post down person fit wicked u go open trades for u

quote

The game don start Christmas is coming �

Advision:
- MBA forex is acquired (99%) by wcepartners.com

-Wcepartners head office address: St. Helen's Place, London.

- activity - immigration consultant

- linkedin check of directors - most don't have and the few that have......let me stop there

If you know, you know

Jabolo, interesting things are happening

If you have genuine questions about forex investment and trading, please free to ask.

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People are asking some funny questions ...which is necessary though.
Is there anyone who have ever made it in forex?

Yes there are people making a very decent living from forex. I mean acquired assets ( houses, cars etc). In fact am a prime example of someone who have made in in forex. But many of them.are low key.
Is forex not like gambling?
Forex is just like stocks, options or treasury bills.
There are consistent fundamentals and technical you need to master to win your trades. It is a profession that needs professionalism.
However, it will be gambling if you want to convert $100 to $5000 in a week.
How much much can one make consistently in a month?
No one can guarantee fixed returns in the markets because markets changes...However you can make consistent, but not fixed profits.

How many months will someone learn to become a pro?
I don't know . It depends on your IQ, hardwork, dedication and discipline.

Can one become a millionaire trading forex ?
Yes. I can show you some live accounts , then you press your calculator to make your judgement.
Is forex regulated?
Forex is largely regulated in US(CFTC), UK(NFA),
CYPRUS(CYSEC).. AUSTRALIA etc. So of you are dealing with any broker make sure they fall under those regulatory bodies.

N

Forex is a very good way to earn a living especially with the falling value of Naira, Nothing can be more joyous than making consistent withdrawals from trading.. Lack of jobs, harsh economy and lack of investment opportunities for young people in this country can be very frustrating..
I was able to keep my head above water by consistent learning how to trade forex for 2 years and it was wortwhile.
Since then, I have been able to grow my account from a few hundreds of dollars to thousands of dollars with a few years. Also., I have been able to teach and help people make Profit from forex.
You can also do this if you are ready to work hard, be dedicated, and patient . Don't not believe in these get rich quick schemes promising high returns withing a short period. They are all scams.
If I can do it , you too can. Be motivated!!!

These are the same people that will say education is a scam..that we don't need to go to school to make in life. Bro, nothing good comes easy even not everyone who plays football will every make it to professional level. IQ and talent are different. How many people are successful businessmen? Get your ass down and work harder, you can't get rich overnight. You must have stories of failures and defeat. Your mentality speaks volumes, you want to use TC11 to get a lecturing job in Havard university, when PHD holders with years of experience are even finding difficult? Imagine with $10?
Nothing pays like forex, I spent 5 good years toiling and practicing for several hours a day , before I became a pro! That's equivalent to earning a degree.

Should have given you candid advice, but MBA forex goons will come for my head. So my advice is experience is the best teacher. Good luck �