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Are all this Nigerian Traders Really Making Money From Forex ??? - Education (4) - Nairaland

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Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Nobody: 8:38am On Sep 07, 2020
Rilley:
You people are unbelievable jeez! cheesy

so any trades you see are demo right? Nigerian people sha. cheesy


Might be ..even gurus don't boasts of serious loss.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Buddy0: 8:40am On Sep 07, 2020
Rilley:
I don't need to prove shít to fools like you because your types will never believe anything, and you are not a trader.


How can you claim am a scammer when no one have accused me of scamming since I joined this forum? it's only scammers that knows scammers
did I even ask anyone to pay any money? or did I asked anyone to give me any money? you sound incredibly dumb dude, and your types never make it far in life just like your loser mentor remedytony. cheesy


I guess you are pained that I earn what you can never earn in a year, Forex isn't for people like you negro. cheesy

Dude I have nothing against you... I don't like talking much so I will drop it here. Wish you more success in all your endeavors as long they are genuine. Goodluck
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Rilley(m): 8:48am On Sep 07, 2020
uruba23:



Might be ..even gurus don't boasts of serious loss.
Dude everyone make losses too, the market is not 100% predictable. but a good trader is someone that makes losses and recover them back.

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by echibuogwu(m): 8:52am On Sep 07, 2020
SamuelLoch:


Hello, I've been learning FOREX for a while now, and experimenting on my demo account. I have two sources for trade signals. How much do you think is good for a start?
I'm asking you because you said you blew up your account twice. I don't want to blow up mine from the scratch. Thanks!t
if you don’t want to blow your account then don’t bother starting cos there’s 90% certainty that you will. No big firm today start without making losses first. I’ll advice you trade on demo with the equity u intend to start live acc first, see how it works for you and if you are making profit then go live, but start with small equity first. Good luck
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by KrazzyAndy(m): 8:56am On Sep 07, 2020
Richardjcooper:


From your screenshot, you have a reasonable risk management but your risk to reward ratio is bad. You’re sometimes losing more money on a pair. You’re doing well but in the long run, this is not sustainable. Work on it now or it will bite you sooner than later
i know sir I'm still figuring out the perfect one for me 50pips tp and 30pips sl is what I'm still trying to work my way around it

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by CabelloCuban: 8:56am On Sep 07, 2020
SamuelLoch:


Hello, I've been learning FOREX for a while now, and experimenting on my demo account. I have two sources for trade signals. How much do you think is good for a start?
I'm asking you because you said you blew up your account twice. I don't want to blow up mine from the scratch. Thanks!t


Start with as little as $100-$150
If you can build $100-$1000
It means you will have no problem building
$1000-$10000 and also stick to 0.01 lot sizes ...but I Quote “blowing account in normal and almost unavoidable for beginners.. even the best trader have blown some account before they get to be pro-traders” ....the real winning is don’t be discouraged if your account get blown, that’s why it takes PATIENCE N DISCIPLINE...most of the people that wanted to learn trading have given up because of they blow their account and that’s not right...you don’t let it get to you instead you learn from whatever mistake you made

4 Likes

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by echibuogwu(m): 8:56am On Sep 07, 2020
essay123:
You are right OP, a professional trader will target %10 to %20 profit of investment in a year. To enjoy the forex market you need to have good Capital and trade low risks. Most traders trade with too much risk on their Capital and that is why they end up losing.
You also have to be disciplined in forex. But all these forex gurus make most of their cash from the lessons, signals and stuff that they give to students.
lol. You guys are comedian on this forum... the only people that target 15-30% profit yearly are big institutions and financial institutions, they trade with insanely huge amount of money so they are trading on completely risk free analysis... lots of people make 30% weekly, I tried uploading a screen record of my phone but it isn’t uploading. Lots of you come here to say rubbish and the funny thing is that most of you guys know nothing about forex

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by KrazzyAndy(m): 8:59am On Sep 07, 2020
Rilley:
Stay away from Gold guy, with that kind of account unless you are very good like saxxy.
i don't trade gold on a daily thing i only trade gold during the mid week wheb reversals happens or a veey big news when they will be much volatility like the pass 3 weeks gold has been huge moves up and down so i buy at the very bottom and sell at the very top risking nothing less than $3:50
Gold has been doing well for me because it's something I've been learning for some months now I'm just so scared that I take profits to early i should have my almost at $90 profits if not of the thinking of half bread is better than none cry
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by essay123(m): 9:23am On Sep 07, 2020
You are part of the people misleading people about forex. I never said you can't make %30 weekly, you can even make %100 weekly. But how much capital are you risking to make such amounts.
If you have enough capital to risk then you can target %30 weekly. Once you blow your account then you can add more money.
Don't preach %30 weekly profit to someone that's wants to invest his whole money in forex. It's just not right.
You can show us your weekly results for the past two months for proof.
echibuogwu:
lol. You guys are comedian on this forum... the only people that target 15-30% profit yearly are big institutions and financial institutions, they trade with insanely huge amount of money so they are trading on completely risk free analysis... lots of people make 30% weekly, I tried uploading a screen record of my phone but it isn’t uploading. Lots of you come here to say rubbish and the funny thing is that most of you guys know nothing about forex
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Nobody: 9:32am On Sep 07, 2020
SpyAC:
the thing tire me ooo, even a frnd invested 2million, and he is comfortably earning huge returns over there, but am still scared of it
If not for fear I would be cashing out big time now, back then my friend invested 360k and he asked me to do like wise but I was scared if I tell you how much he has now, Oga like our president you go Shock.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by essay123(m): 9:43am On Sep 07, 2020
There is this koulee guy on YouTube that flips accounts. He will show you an account where he turned $100 to $1200 in 1 week. $500 to $3000, $1000 to $22000.
What he won't say his how many accounts he blew up trying to flip those amounts.
You can't win every trade in forex, in fact there are times that you'll have streams of losses.
Weekly or monthly winnings are not guaranteed. So if you really want to trade and not bet you will trade with very low risk.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Rilley(m): 9:43am On Sep 07, 2020
CabelloCuban:



Start with as little as $100-$150
If you can build $100-$1000
It means you will have no problem building
$1000-$10000 and also stick to 0.01 lot sizes ...but I Quote “blowing account in normal and almost unavoidable for beginners.. even the best trader have blown some account before they get to be pro-traders” ....the real winning is don’t be discouraged if your account get blown, that’s why it takes PATIENCE N DISCIPLINE...most of the people that wanted to learn trading have given up because of they blow their account and that’s not right...you don’t let it get to you instead you learn from whatever mistake you made
You are definitely right about this, I've lost alot but still I never gave up, now am even better than before.

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Rilley(m): 9:46am On Sep 07, 2020
essay123:
There is this koulee guy on YouTube that flips accounts. He will show you an account where he turned $100 to $1200 in 1 week. $500 to $3000, $1000 to $22000.
What he won't say his how many accounts he blew up trying to flip those amounts.
You can't win every trade in forex, in fact there are times that you'll have streams of losses.
Weekly or monthly winnings are not guaranteed. So if you really want to trade and not bet you will trade with very low risk.
That's why money management is always advisable when you are starting, don't use big lot size because you see others using it, if not you will pack to village. grin

and also trading with emotion is dangerous, just have a clear mind.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Pheurly: 9:51am On Sep 07, 2020
Forex is bae.... Dey there ooo shocked
Last week cash out was sweet and superb tongue... Looking forward to friday and sunday this week grin cheesy
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by essay123(m): 9:53am On Sep 07, 2020
Yes bro. Good money management, Good risk to reward ratio, Good entry point
Rilley:
That's why money management is always advisable when you are starting, don't use big lot size because you see others using it, if not you will pack to village. grin

and also trading with emotion is dangerous, just have a clear mind.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by echibuogwu(m): 9:54am On Sep 07, 2020
essay123:
You are part of the people misleading people about forex. I never said you can't make %30 weekly, you can even make %100 weekly. But how much capital are you risking to make such amounts.
If you have enough capital to risk then you can target %30 weekly. Once you blow your account then you can add more money.
Don't preach %30 weekly profit to someone that's wants to invest his whole money in forex. It's just not right.
You can show us your weekly results for the past two months for proof.
if I am part of people misleading people then you are part of people discouraging people, if you read my previous comments you will see where I clearly put it that it is 90% certain that a beginner will blow his account. But since you have decided to be stupid and useless I’ll upload a screenshot for you guys to see, wether you believe or not is your problem. And I blew my acc more than twice before I started getting it right.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by CabelloCuban: 10:04am On Sep 07, 2020
Rilley:
You are definitely right about this, I've lost alot but still I never gave up, now am even better than before.

You’ll be okay...success every signal you take smiley
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by CabelloCuban: 10:08am On Sep 07, 2020
echibuogwu:
if I am part of people misleading people then you are part of people discouraging people, if you read my previous comments you will see where I clearly put it that it is 90% certain that a beginner will blow his account. But since you have decided to be stupid and useless I’ll upload a screenshot for you guys to see, wether you believe or not is your problem. And I blew my acc more than twice before I started getting it right.

Bro..Nawa for you oo
You sef get time to dey reply am...na your money na you know if you dey lie or not...what are you still dropping proof for..Shey e go give you money if you show proof abi money go comot from your bank...mtcheeew
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by echibuogwu(m): 10:11am On Sep 07, 2020
CabelloCuban:


Bro..Nawa for you oo
You sef get time to dey reply am...na your money na you know if you dey lie or not...what are you still dropping proof for..Shey e go give you money if you show proof abi money go comot from your bank...mtcheeew
no be lie you talk.

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by legacyint: 10:42am On Sep 07, 2020
Tedpgrass:



What car is in the 3rd picture please

.
That’s a Tesla model S
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by essay123(m): 11:10am On Sep 07, 2020
Why do use of the word stupid and senseless? You have no idea of who you are talking too. What's your problem? Did you see me use any abusive words against you. Don't be unfortunate young man.
echibuogwu:
if I am part of people misleading people then you are part of people discouraging people, if you read my previous comments you will see where I clearly put it that it is 90% certain that a beginner will blow his account. But since you have decided to be stupid and useless I’ll upload a screenshot for you guys to see, wether you believe or not is your problem. And I blew my acc more than twice before I started getting it right.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Ubog(f): 11:43am On Sep 07, 2020
OGWILLS123:
The rate of people talking about forex now really got me thinking if it is that
lucrative .
meanwhile base on analysis it says that a good forex trader makes only ten percent of his or her capital in a year.
but tune down to Nigeria you will see someone in Nairaland promising you 30 percent of your capital in a month undecided

Is there any one making money from forex
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Ofadaman(m): 11:58am On Sep 07, 2020
Forex is trading just like stocks and other investment, just that in this case you're trading currency, now when an aboki man guys dollar cheap and sells it at high rate he's just trader forex, now the reason why it's more complicated in the global fx market is that, the liquidity is much and people can leverage their capital to make returns, e.g. even if you don't have 100k dollars, with your 50$ you can trade with the capacity of someone who has 100k or even 500k $ , the only problem is that you can make austronomical profits same way you can lose hellishly, due to the leverage.

Forex is not a scam or anything , it's investment just like stocks, just in this case you can lose all your capital. Now, it's a zero sum market ,which means, you're gain is someone else's losses.

I've traded fx since 2008, I'm a veteran there but I'll tell you the basic facts, ... A decent trader only makes slightly above the returns on the average stock market index yearly, which is around 23-25%, there are people who make 2000% in a day, but on average, they end up losing same way due to the huge risk they take on their portfolio,

Most early traders, are all about making money and their fingers are gittery, they make trades out if emotions, they enter too late, they close profit too early, they are afraid of mising out and that's why they end up losing their capital, experience traders learned to not trade all the time, do their research and then take position based on facts not emotions, they also know that risk management is the key.

1 Like

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by SoftBillionaire: 12:09pm On Sep 07, 2020
Notatribalist:
Your signature is complete false,I guess you are one of the reason people are giving bad name to forex..How dey hell do you make 300% weekly? Do you have any trade history to back up ur claims?

Please read carefully. Never said I was making 300% weekly. I said you earn 50% share of profit weekly, that is each week. Till the 50% being earned per week amounts to a total of 300% of capital invested. So that will not happen in one week, but after number of weeks.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by SoftBillionaire: 12:12pm On Sep 07, 2020
Ofadaman:
Forex is trading just like stocks and other investment, just that in this case you're trading currency, now when an aboki man guys dollar cheap and sells it at high rate he's just trader forex, now the reason why it's more complicated in the global fx market is that, the liquidity is much and people can leverage their capital to make returns, e.g. even if you don't have 100k dollars, with your 50$ you can trade with the capacity of someone who has 100k or even 500k $ , the only problem is that you can make austronomical profits same way you can lose hellishly, due to the leverage.

Forex is not a scam or anything , it's investment just like stocks, just in this case you can lose all your capital. Now, it's a zero sum market ,which means, you're gain is someone else's losses.

I've traded fx since 2008, I'm a veteran there but I'll tell you the basic facts, ... A decent trader only makes slightly above the returns on the average stock market index yearly, which is around 23-25%, there are people who make 2000% in a day, but on average, they end up losing same way due to the huge risk they take on their portfolio,

Most early traders, are all about making money and their fingers are gittery, they make trades out if emotions, they enter too late, they close profit too early, they are afraid of mising out and that's why they end up losing their capital, experience traders learned to not trade all the time, do their research and then take position based on facts not emotions, they also know that risk management is the key.
Sure!
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Burchester: 12:19pm On Sep 07, 2020
Wow
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by alphaNomega: 12:20pm On Sep 07, 2020
Notatribalist:
don't say what you don't know
I don't say what I don't know
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Richardjcooper(m): 12:37pm On Sep 07, 2020
KrazzyAndy:
i know sir I'm still figuring out the perfect one for me 50pips tp and 30pips sl is what I'm still trying to work my way around it

If your strategy doesn’t hit tp at least 60% of the time then this RR will not be sustainable. Try lowering your sl or making your atleast RR 1:3. Don’t take a setup lower than this
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Tedpgrass: 12:48pm On Sep 07, 2020
legacyint:


That’s a Tesla model S

thanks

.
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Hardfacts234(m): 1:00pm On Sep 07, 2020
All businesses that involves speculation are the same examples; stock trading, Forex, Betting, crypto-currency etc

If forex trading includes waging and speculations then it's not different from bet9ja. Just a change of name.

2 Likes

Re: Are all this Nigerian Traders Really Making Money From Forex ??? by KrazzyAndy(m): 1:25pm On Sep 07, 2020
Richardjcooper:


If your strategy doesn’t hit tp at least 60% of the time then this RR will not be sustainable. Try lowering your sl or making your atleast RR 1:3. Don’t take a setup lower than this
20pips sl and 60pips tp
Re: Are all this Nigerian Traders Really Making Money From Forex ??? by Richardjcooper(m): 2:09pm On Sep 07, 2020
KrazzyAndy:

20pips sl and 60pips tp

Exactly...at least. Breakeven at 1:1, take partials at 1:2 and let the rest ride to tp. Obviously only a higher lot can take partials. You can close some positions if you have more than one in that aspect

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