Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

SteveSol:
Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

I use artificial intelligence trading robot to trade. With the robot I use technical and fundamental analysis to place trade. I do have other strategies I put into consideration. currently I manage acct of someone worth 300$:.

SteveSol:
Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

I trade forex fora living and I can tell you, there is a lot of information online that will either affect you negatively or positively.
What you consume in your early stage matters and forex is worth the pain abd stress invested in it

SteveSol:
Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

https://www.nairaland.com/7504926/forex-trade-alerts-season-23/609

Follow the above trend and you are rest assured of getting genuine answers.

SteveSol:
Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

Newbie? prepare for potential scammers. Some would claim to manage accounts, have special tools, strategy of no loss, some wants to sell their e-book or whatever to you, be very careful. Also, there are potential scam groups, they flaunt false profits and would corner you to take from you. Anyone offering you "copy trading", "account management" and "trading bot" or AI. Be careful! Some would tell you they know someone who is a boss, that someone is their other account or friend. Be careful...

First thing, get a trading app that supports demo account e.g. MT5. Next, look into YouTube for Forex terms e.g. what is pip? lot? leverage? etc, I think FXTM on YouTube have a short videos on each definition of terms. You can also google babypips, babypips is a site for learning.

Practice with the app, practice on your free time. Feel free to ask questions here and not necessarily DMs.

JasonNOTStatham:
Newbie? prepare for potential scammers. Some would claim to manage accounts, have special tools, strategy of no loss, some wants to sell their e-book or whatever to you, be very careful. Also, there are potential scam groups, they flaunt false profits and would corner you to take from you. Anyone offering you "copy trading", "account management" and "trading bot" or AI. Be careful! Some would tell you they know someone who is a boss, that someone is their other account or friend. Be careful...

First thing, get a trading app that supports demo account e.g. MT5. Next, look into YouTube for Forex terms e.g. what is pip? lot? leverage? etc, I think FXTM on YouTube have a short videos on each definition of terms. You can also google babypips, babypips is a site for learning.

Practice with the app, practice on your free time. Feel free to ask questions here and not necessarily DMs.

whats the procedure to fund account? Lets say i have 50$ to start

sweetveek:
whats the procedure to fund account? Lets say i have 50$ to start

I think it is better to buy a prop firm challenge with $50, so they give you 5K account for trading. $50 wouldn't do much for you, honestly.

JasonNOTStatham:
I think it is better to buy a prop firm challenge with $50, so they give you 5K account for trading. $50 wouldn't do much for you, honestly.

i just think my strategy won't favour me with prop firm considering their terms

sweetveek:
i just think my strategy won't favour me with prop firm considering their terms

If so, you may deposit in a reputable broker and go softly. I think your strategy could favour you if you cut down the lot size.

JasonNOTStatham:
If so, you may deposit in a reputable broker and go softly. I think your strategy could favour you if you cut down the lot size.

yeah , already have a plan for that, i just need to practicalize it with real funds

sweetveek:
whats the procedure to fund account? Lets say i have 50$ to start

Let me give you an insight.
You sound like you know a thing or 2.
Now work with a journal and risk to reward.
Let's say you want to be taking 5-10 trades a day as a scalper or 3-5 as a day trader and your capital is 50$
Do this, risk like 2-3$ per trade to gain 10$
If you loose 3times in a row, then you quit for the day..
If you loose 2 and win 3
You're in massive profit.
Apply this to save tour capital.
Dollar is above 900 now

Greatdober:

Let me give you an insight.
You sound like you know a thing or 2.
Now work with a journal and risk to reward.
Let's say you want to be taking 5-10 trades a day as a scalper or 3-5 as a day trader and your capital is 50$
Do this, risk like 2-3$ per trade to gain 10$
If you loose 3times in a row, then you quit for the day..
If you loose 2 and win 3
You're in massive profit.
Apply this to save tour capital.
Dollar is above 900 now

Thanks, any ideas if this is nin or bvn?

sweetveek:
yeah , already have a plan for that, i just need to practicalize it with real funds

There is a guy that trade on "cent account" on Nairaland, I think you should trade on cent account; so the $50 appears bigger.

JasonNOTStatham:
There is a guy that trade on "cent account" on Nairaland, I think you should trade on cent account; so the $50 appears bigger.

yeah, already following his thread

sweetveek:
Thanks, any ideas if this is nin or bvn?

No its TIN
Different stuff entirely.
Do you pay tax?

Greatdober:

No its TIN
Different stuff entirely.
Do you pay tax?

nope, hope it won't affect withdrawal later sha

sweetveek:
nope, hope it won't affect withdrawal later sha

I don't really know man...
I use deriv

JasonNOTStatham:
Newbie? prepare for potential scammers. Some would claim to manage accounts, have special tools, strategy of no loss, some wants to sell their e-book or whatever to you, be very careful. Also, there are potential scam groups, they flaunt false profits and would corner you to take from you. Anyone offering you "copy trading", "account management" and "trading bot" or AI. Be careful! Some would tell you they know someone who is a boss, that someone is their other account or friend. Be careful...

First thing, get a trading app that supports demo account e.g. MT5. Next, look into YouTube for Forex terms e.g. what is pip? lot? leverage? etc, I think FXTM on YouTube have a short videos on each definition of terms. You can also google babypips, babypips is a site for learning.

Practice with the app, practice on your free time. Feel free to ask questions here and not necessarily DMs.

Thank you for an elaborate eye open advice. once again thank you!

SteveSol:
Good day, fellow Nairalanders.
I hope your weekend was a good one.
I want to ask questions on FOREX TRADING.
Is forex trading still promising this time as the situation of things is? if promising, how do i start as a novice? what are the proper channels I need to go through, at least on a low key bases.

thank you all. I look forward to answers from those who have experience in forexing.

The forex industry is still promising and will remain so.
The question i put to you is,are u prepared for a slice of the $7.5 Trillion per day market?
Engaging the forex market without the blueprint of the owners is like taking a walk in Dracular' s lair.You would never make it to the other side.
In the retail forex community,talk is cheap.Don't get fooled by charlatans masquerading as professionals.
The only professionals are those that have performed a CONTROLLED function in all GEOGRAPHIES ie traded other people's (investors) money.
The word "CONTROLLED" adheres to institutional regulation by FINMA,NFA,ASIC, ETC.
Be ready to pay the price if u wanna walk down this path, cos somewhere on this path,you would find everyone else walking in the opposite direction with deep cuts and scars encrypted with despair and soon enough,you will be a loner on that desolate,dark and abandoned road of "TRADING".
It is at this point that yr journey really begins,a journey you will undertake "ALONE".
And if u find mastery of that which you seek,you would see light on the other side of the road.
Goodluck in yr quest.

Greatdober:

I trade forex fora living and I can tell you, there is a lot of information online that will either affect you negatively or positively.
What you consume in your early stage matters and forex is worth the pain abd stress invested in it

Nice talk Chief

Forex is worth the pain and stress invested.

Be ready to lose first before gaining your ground.

sweetveek:
Thanks, any ideas if this is nin or bvn?

What broker is this

I use Deriv though

You response is epic and one of the most genuine comments I have ever read on topics as this. Presently as I typed this, I'm on this lonely road with the deep cuts and scars.

Actually, I'm presently at the verge of parting away with forex trading. I just lost all the entire money in my savings.

shinkaku:


The forex industry is still promising and will remain so.
The question i put to you is,are u prepared for a slice of the $7.5 Trillion per day market?
Engaging the forex market without the blueprint of the owners is like taking a walk in Dracular' s lair.You would never make it to the other side.
In the retail forex community,talk is cheap.Don't get fooled by charlatans masquerading as professionals.
The only professionals are those that have performed a CONTROLLED function in all GEOGRAPHIES ie traded other people's (investors) money.
The word "CONTROLLED" adheres to institutional regulation by FINMA,NFA,ASIC, ETC.
Be ready to pay the price if u wanna walk down this path, cos somewhere on this path,you would find everyone else walking in the opposite direction with deep cuts and scars encrypted with despair and soon enough,you will be a loner on that desolate,dark and abandoned road of "TRADING".
It is at this point that yr journey really begins,a journey you will undertake "ALONE".
And if u find mastery of that which you seek,you would see light on the other side of the road.
Goodluck in yr quest.

samz77:
I use artificial intelligence trading robot to trade. With the robot I use technical and fundamental analysis to place trade. I do have other strategies I put into consideration. currently I manage acct of someone worth 300$:.

Shut up