₦airaland Forum

pook:
Yes. You speculate movement by analysing.

so the same risks and pitfalls that affect forex traders also affect crypto traders.

ernieboy:
so the same risks and pitfalls that affect forex traders also affect crypto traders.

Not at all. There is something called. Volatility and Volume which is not the same. Forex is predictable as big boys and interbank decide market movement. Crypto is basically Volume and very volatile. If you trading currency pair, there is limit to how market can move per day as if a currency is driving low, govt policy will put intervention in place. Crypto is not regulated by the government so it can go from 120k to 10k in a week, it move back to 110k tomorrow. A big player can liquidate and drive crypto downward.

In lame man

Forex = Currency pair = Currency of a nation against currency of another nation.

Cryptocurrency= Crypto against currency of another nation

To me forex is one of the sweetest skills a person can have, clear path to financial freedom , if u can go to school for 4yrs and do masters 2yrs to come get a job after 5/6 years, why do u wanna learn forex today and start making money tommorrow.

U gat learn the trade Bro, use yr Demo account to practice and actually make money with a strategy not guess work, forex no be guess work.

Go use top down analysis, study it, practice it and use it on demo once confident with it........ start making yr $$$$$.

Wishing u all the best, as I said earlier, forex is one of the sweetest skills a person can have cause I learnt from my Boss who came from the banking sector.

What's happening to BTC? Seems like it has no end in sight

Stephen0mozzy:
I agree with you very well Chief. The parts of your statement highlighted in bold are the things the "coaches" who are just interested in you buying the course, won't tell you.

All skills have their curves for learning, which if you don't learn with patience, you'll learn with pain.

That's just the truth.
What I would tell any aspiring forex trader is to ignore any "coach" that isn't an active and profitable forex trader.
Real coaches don't just sell courses to you, rather they do mentorship, which is to hold your hand and guide you through the way.
If you don't have a good mentor, you will struggle a lot in forex because experience plays a huge role in the craft.

blesdman:
that research is what the sources or references of ur research wants u to believe. Forex trading is simply forex betting

I don't see what the contradiction is between what the research says and what you saying They are not mutually exclusive.

And if you still want to argue, then my response is; your opinion is what the sources or references of ur opinion wants u to believe.

blesdman:
that research is what the sources or references of ur research wants u to believe. Forex trading is simply forex betting

I don't see what the contradiction is between what the research says and what you saying They are not mutually exclusive.

But if you still want to argue, then my response is; your opinion is what the sources or references of ur opinion wants u to believe.

keemson4:
Binary trading is far better than Forex trading though they used MT4, MT5 and Trading view but winning in binary is easier.

please how did you know this will fall? Last digit?

Can i trade forex as a side hustle

sircrabo:
Forex is difficult (no doubt) and only a few disciplined ones make it to the 5%. The technicals isnt the problem, the major issue is the discipline of the trader. You won't know how greedy you are until you start trading forex.

Personally I won't advise anyone I know to start trading now because its a long, lonely, horrible and turbulent journey. And it takes years to become profitable. BUT if you persevere and learn from every mistake you make along the way, you'll be grateful for the skill in the long run.
Nigerians are good at overflooding businesses and making it unprofitable and unattractive. Nigerians una sabi cast business. Same way people trooped into pure water business and casted it then to recharge card printing, then to fish farming and now POS. Very soon they'll cast content creation and Facebook won't pay Nigerian creators anything reasonable anylonger.

Nigerians hate forex from what I've seen so far because FOREX no gree una cast. Forex isnt a place you come and do anyhow, if not you go collect. If forex was as easy as a lot of people on this thread wanted, it won't have value by now. Una for Don cast am as usual. Sorry to disappoint you but its not getting any easier. It's either you commit to learning over a long period OR you stay out and face your pos businesses.

The percentage of unprofitable traders used to be about 95% but now we have more profitable traders springing up. Just work your way into the category of profitable traders. There's no way to riches that's easy. Go and ask people who cross the ocean to Europe about their experience. Only a few live to tell the story. Go and ask drug dealers the risks involved in their business. Doctors, engineers, lawyers spend years mastering the profession before they can earn reasonably. But you all that haven't even traded FX for upto one year are here comparing it to Sporty. Its not your fault. Its because of the easy entry barrier forex has. If brokers set a minimum deposit of $1000 for a live account, many of you won't be able to afford it. That your $50, $70, ,$100 won't make you rich in the FX market, instead the market will sniff it like a drug.

If you must trade, learn it well and be sure you have the required discipline to protect your capital. If you aren't scaling up as much as you want (after committing to learning and discplined trading) feel free to withdraw and invest in other ventures. In FX trading, capital preservation is the most important.

I rest my case