₦airaland Forum

Chechelenche:
I’ve come across numerous blogs and social media posts where people flaunt wealth—exotic cars, luxury homes, and frequent vacations—and claim it’s all from trading forex.

I’m interested in getting into forex trading, but honestly, I’m quite skeptical. Are these claims actually verified?

Most people I’ve spoken to in real life seem to have stories of losses rather than consistent profits from trading, and this has made me very cautious.
I’d appreciate it if experienced traders or knowledgeable members here could share honest insights.

Is forex trading genuinely profitable in the long run, or are most of these online displays exaggerated or misleading?

They are drug lords hiding under the so-called forex thing.

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

I wanted to send you message but couldn’t

For every real thing there will always be fake especially when money is involve, my advice treat forex like a side hustle stick to demo account and do not trade with your money till you’re confident enough and can proudly call yourself a profitable trader meaning you’ve traded demo for a month or more and your winnings her constant I’m talking 80 to 90% win rate. PS try to find someone who can teach you in person and stick to that person’s strategy you can’t borrow from different professional traders and be profitable you’ll end up confused and exhausted.
Lastly it’s not a get rich quick scheme, it’s a course on its own and you learn and fail a few times before becoming profitable so therefore stick to demo trading through the cause of your study. Wishing you good luck and many more of it if you decide to embark on this journey. One more thing forex is a life changing experience either for good or for worse.

My today profit in Forex ... Yes for real

Abeg share link bro

allen113:
I have this forex group I belong to in telegram na legit with white forex traders they there but why I lose interest be say their profit no dey pass $10 abi na 10 pips dem dey call am

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

Blootherhood

Monthly profit is $700.
Withdrawal $268
In forex when there is no news. Technical analysis works. When there is news. Technical analysis doesn't work.
I trade RSI 70 and RSI 30.
RSI 70 🚨

An RSI of 70 or above typically indicates that a stock is overbought, suggesting it may be overvalued or due for a correction. This is often seen as a sell signal by traders.

RSI below 30 typically indicates that a stock is oversold, suggesting it may be undervalued or due for a rebound. This is often seen as a buy signal by traders.

Yes people make alot of money from trading forex......BUT

Forex trading is s test of personality, your journey in life, your background, your emotional control and being, your human and monetary psychology.. It is a business that tests your approach to money, and how you deal with losses......IT IS SIMPLY A TEST OF WHO YOU REALLY ARE... YOUR GREED AND FEAR...

NOW...You will make a lot of money in forex but you will equally lose alot as a beginner...YOU WILL NEVER ESCAPE IT...IT IS A MUST..YOU must pay your mentor, pay your tutor and pay your broker...Yes those losses that will steal sleep from you, that will give u high BP belongs to your broker.

IT is a personal journey...

Dont start forex trading as your last hope...You last hope might be the grave... i kid you not...Do forex when you have a job, once you master the act, quit your job...Infact at that stage you dont need anyone to tell you that you should quit your job at that point..

With a good mentor, and following his advice while you build your skills, you need nothing less that 2 years... if you are the one who really want to learn and your mentor is a real trader, you need nothing less than 1 and half years... If you learn it on your own you need nothing less than 3 years and that is if you are intelligent.


However, FOREX trading itself is easy, but human beings are complex themselves..thus makes the trading complex

BUT hey, it is a skill that is worth it,....once you master it, you will thank your GOD. And if God helps you to have reasonable capital to invest after this your own don soft

People study just how to plant rice, cassava, beans in the schools for 5 years.,,,people learn how to sew cloths, sell spare parts for 4 years, but people want to learn what wlll set them up for life, a business that Medical docs all over the world, profs, engineers, banks and bankers, psychologists, businessmen, hedge funders, market makers, institutions at Bloomberg and wall streets within 3 months...

PLEASE LEARN FOREX TRADING NOW

Good evening everyone, I am very happy that I known nairaland in my life.This website is full of many experience people.Infact whenever am searching something I always end it with nairaland and learn and get knowledge from many who have had the experience.Thank you for sharing light on Forex, Crypto and betting.
Base on my perspective I think crypto is better if person can see the sure and legit one.although falling and rising is the effect.Forex is for someone who really have concept knowledge for many years.while betting is to make or mar person like Forex with no enough knowledge and crypto that can fall anytime.🤣🤣🤣🤣
To make it in this life is not easy at all both in good way or bad way .

Chechelenche:
That's the point. I am at a point where I'm trying to figure out what I can do on a long term to secure my future and not have to keep struggling that's why I made this post. Thanks for this insightful comment.

Don’t invest your money in the wind,it’s better your do an extensive research on agriculture to determine which line of it you can venture into. Peace ✌️

BeardedMeat:
Op, no matter what you do, don't engage this guy outside of NL. Enough said.

Honestly, I don't care. I don't even want anyone to engage me. He has sent me message since like 3 days now but I will not even respond to him. Peace

motymop:
you see the logic, na why una dey lose, get rich quick symdrome dey worry una

if you make $10, every hour trading forex, in 12 hours, that is $120, in 7days, that is $840 per week, in a month $3,360, na how dem dey play the game.

Where did you see every hour? The guy said he QUIT because money no dey am!

everythingtall3:
When devil want to destroy you, he introduces you to forex or sport bet

Una no go kill person with laughter for Nairaland🤣🤣🤣🤣

There is no difference between forex and crypto
Except you want to focus on sport trading and not features

stan4b:
Forex is like gambling. Instead of learning forex, use that same energy to learn crypto.

The way I see it.

Either you have significant capital (in the millions of dollars plus) or/and you have the technology (superior computing power (particularly in the new world of AI).

The world of Forex in these parts I will liken to the California Gold Rush of the 19th century where those who really made any money were those selling and leasing mining stuff.

Adebisi444:
Can I contact you as well to learn about it?.

Why did you still want to waste your money after the whole thing this person wrote

Go and buy land amd thank me later because if you do forex and come here to complain later I will swear for you

This is something I've done before and I made some money, even as an amateur.

However, I would like to sound a serious note of warning here, IF YOU HAVE SOME EMOTIONAL SHOCK ABSORBER AND SOME BACK UP FUNDS AS WELL AS SOMETHING ELSE THAT GIVES YOU MONEY CONSISTENTLY, GO AHEAD (if that is what you want to do)

But if you ask me, in all honesty, I will strongly advise you against Forex because you have 95% chances of regretting it.

I made money from forex, not as an expert but from system failure!!!

Yes, system failure. I was using a desktop at the time with assurances of consistent light. But on that fateful day, I placed a trade and didn't even bother ticking my TP and SL (forex traders would understand my language). The trade was already against me and I was losing. Then, NEPA suddenly went went off and the standby generator refused to start, on a Friday morning.

Then I concluded that my money had been wiped out. Then over the weekend, I didn't even bother checking anything. Then on Tuesday, I was just telling a friend who was also a trader at the time and he requested for my login details just to check and Alas! I had made a HUGE profit, recouping all I ever lost in multiple folds!!!

I just simple placed a withdrawal request and cashed out. And that was the time I went near forex😂😂😂😂.

That was around 2008 or so.

So, my bro, don't do it. Just my 2 cent!

YourGFsnatcher:
They make money by selling the idea that they can make you rich through trading. That's why they fksubt wealth so you can pay more to teach you. Even though trading is no scam, where they make the money is the fee you pay for them to teach you.

Same thing prosperity pastors do. They flaunt Wealth and tell you they can make u rich too when u do what they say, they make you give them money, they buy more things but deny its your money, when u don't make it they tell you cos you did not sacrifice enough

LMAO! 😂😂

Please who is this broker that stopped paying you. Because i learnt that brokers make money from spreads and commissions not from Losses, like sport betting.

macphilip:
As someone that works in the forex industry, I know of a client that has been withdrawing profits daily, weekly, monthly consistently in the last 3 years. I also know of 98% of traders that lose their account deposits within the first 1-2 weeks of trading.
I myself I traded a highly profitable strategy, withdrawing monthly between 2014 - 2016 until the broker stopped paying and forcefully closed my account.

mascot87:
I am a full time forex trader and I will tell for a fact that you will lose a lot of money for the next 3 to 4 years or more depending on how you master yourself and until you figure out how to master the market.
Yes,you can make it in the market but not immediately. If you no get mind,no put body o. A lot will happen in your life that will make you hate it during the period you are trying to figure things out in the market.
I have been in it full time in the last 3 ½ years and I can tell you it's hell but it's getting better.
I can tell you for free, you will lose ALL. Just make sure you have backup funds or you have something you are doing that gives you steady income that will support the loses you will incure in forex.
If you want me to guide you,you can message me. I'm not collecting anything from you.

Make I add: It is also very addictive and once you start,you might not be able to stay out of it. So in the long run, it is either you get serious and make it from there or it ruin you life. (This is a FACT)

That means forex is like sports betting??

infact sports betting might be better than forex?

Exactly what i am doing now. Using AI to put one of my profitable strategy in EA and host same in VPS . I started since 2021. Imagine joining a demo contest January 2, 2026, i celebrated turning their 10k dollars to 15k in a week only to see guys turning Thiers to 45k dollars. That can never be manual.

Toks2008:
Nice question.

Yes people make money but only about 5% of traders.

1. Traders who are not greedy

2. Traders who understand that slow and steady wins the race.

3. Traders who use their money to trade and not those who borrow money to trade thereby reducing pressure to rush things hence lose more.

4. Traders who know there is no holy grail trading method and will stick to a profitable trading method even during the downtime.

5. Traders who have huge money to trade so that making just 10% profit a month will be reasonable and not traders who open accounts with 200usd and hoping to make 1k profit in a month.

6. Traders who are smart enough to put their manual trading methods into EA (Automated trading method) so they will not be controlled by emotions.

7. Traders who understand that trading fx as the only business is risky hence only do it as part time no matter how much they make so there will never be pressure to make so much to cover bills.

On a final note, fx trading is not for the weak and if you are thinking of taking it up as a career, i will rather advise you prepare mentally, emotionally, physically and financially cos it may take so much from you before you start making consistent profits.

My advise is to be patient learning and never ever open a live trading account until you can consistently build a 500usd demo capital to 5000 three consecutive times and even when you finally open a real account, hands off manual trading but convert your trading method into an EA and set it up then face other businesses.

Interesting topic

If you are new to trading forex is bad place to start. Stocks are less likely to loose money cause stock prices atleast naturally go up in price with inflation, not so forex, which tend to move sideways.

Learn how to trade stocks before trying forex, and try to start with ETF rather than single stock.

Try to make each trade 1-5% or less of your total trading cash.

Watch a lot of youtube videos about trading like these guys https://www.youtube.com/@StockChartsTV

Treat your approach to trading risk like a business, and not a get rich quick scheme, they set traps for those,.

Start with trading simulator , pretty much every brokerage platform has it now. After simulator start with small money for each trade, there is no way you wount learn.

!!!Avoid at all cost as new trader CFD, or trading anything that means you pay Swap(rent) to hold a position !!!. this doubles your chances of loosing.

Learn how to read charts, and try your best to go for longer term trades that last for months to 1 or 2 years, they are the least stressful and most profitable.

The people running the market want reasonable people to make money, and they have set traps everywhere for those looking to make a quick buck, unless you have the hyper expensive equipment for high frequency trading.

Trading is no longer the mystery it used to be with ETF, just buy a good ETF and chill

Try IBKR interactive brokers no swaps , you only pay interest if you use margin.

I don't know if this broker still exists, but back in 2019 someone told me about trading options, how i could make 80+ percent of my stake within minutes, damn i was like oh shit let's go.
I bought the books and then watched videos, I signed up on olymptrade, for weeks i was making mad progress on my Demo account, so i deposited about 2300usd (my mama money dey inside sef 😭), sharply i started trading, made profits on my first two trades ( if i remember good), i started making a list of what i would buy, people to "oppress" and lives I'd change.
Well, to cut the story short, I increased my stake and that kind of quickly erased my capital, I cannot describe the feeling, but it is definitely not good. So, I got more curious, then there were services of "pros" you could buy (they had an app) , these people (supposedly Russians) promise you a certain percentage gain per week if you pay their premium and use the signals they send you, I'd get the signal on my app and quickly go take the position, it still ended in tears, albeit slowly.
Damn, I started digging into how to really know what's up, books, videos, etc, I started reading all sorts of finance news, strategies, followed industry "pros", still no success, my conclusion has been that those who really succeed in these things are powerful people who know policy makers, people in government and or those who i call "the market".

A

stan4b:
Forex is like gambling. Instead of learning forex, use that same energy to learn crypto.

is crypto not the same as forex?

Chechelenche:
I’ve come across numerous blogs and social media posts where people flaunt wealth—exotic cars, luxury homes, and frequent vacations—and claim it’s all from trading forex.

I’m interested in getting into forex trading, but honestly, I’m quite skeptical. Are these claims actually verified?

Most people I’ve spoken to in real life seem to have stories of losses rather than consistent profits from trading, and this has made me very cautious.
I’d appreciate it if experienced traders or knowledgeable members here could share honest insights.

Is forex trading genuinely profitable in the long run, or are most of these online displays exaggerated or misleading?

Try Aviator, na person say make I tell you. 😁

Binary trading is far better than Forex trading though they used MT4, MT5 and Trading view but winning in binary is easier.

Chechelenche:
I’ve come across numerous blogs and social media posts where people flaunt wealth—exotic cars, luxury homes, and frequent vacations—and claim it’s all from trading forex.

I’m interested in getting into forex trading, but honestly, I’m quite skeptical. Are these claims actually verified?

Most people I’ve spoken to in real life seem to have stories of losses rather than consistent profits from trading, and this has made me very cautious.
I’d appreciate it if experienced traders or knowledgeable members here could share honest insights.

Is forex trading genuinely profitable in the long run, or are most of these online displays exaggerated or misleading?

I'm a full-time trader but you will lose money when you start. Unless you are patient. You can start with a demo or cent account first. Now my story is different.

Usdtstaking:
I will encourage you to learn both Forex and Crypto together and then make your choice. Personally, I prefer Crypto to Forex. I see Forex as gambling. Once you enter a market, let's say GBP/USD, you will either lose or gain.

Some people will tell you that Forex is better than Crypto, but I think it is not true. I believe in the future, there will be more people trading Crypto than Forex.

Just learn both and choose your poison wisely. Just note that there are more losers than winners. Also, always have a backup plan

is crypto trading not the same as forex? You are taking position on whether you believe the price will go up or come down.

ernieboy:
Ais crypto not the same as forex?

Forex is foreign exchange. Trading different currency against each other. Crypto is just crypto (Bitcoin etc). Forex trades only on Monday - Friday while Crypto trade 247.

People make money from forex. People make money from gambling too. The question is that do you understsnd it? As bad as gambling is, Nate Silver made tons of dollars from it. To many who don't understand the mathematical principles guiding it, it is gambling. To the one who understands the analytic or mathematical reasoning behind it, it is gold.

Most comments I read in this thread are so funny.