₦airaland Forum

Forex trading can be very profitable, but even when you are a good trader you might not make any money, especially if you trade with a broker that charges ridiculous fees. There are a couple of solid forex brokers in Nigeria that charge fair fees, but you need to be aware that there are many scams in the industry, especially considering that the financial regulator of Nigeria - the SEC is not very active when it comes to the overlook of the forex market.

Michael9989:
Forex trading can be very profitable, but even when you are a good trader you might not make any money, especially if you trade with a broker that charges ridiculous fees. There are a couple of solid forex brokers in Nigeria that charge fair fees, but you need to be aware that there are many scams in the industry, especially considering that the financial regulator of Nigeria - the SEC is not very active when it comes to the overlook of the forex market.

It is better to use foreign brokers..

But honestly the fx business will only bring tears to many cos only the greedless traders make it in the long run and greed is like a plague too strong for many traders to subdue.

After you have developed a good trading method, you will need to overcome the main monster which is greed.

If you can't control your greed then don't even bother trading fx cos it must end in tears.

Toks2008:
It is better to use foreign brokers..

But honestly the fx business will only bring tears to many cos only the greedless traders make it in the long run and greed is like a plague too strong for many traders to subdue.


After you have developed a good trading method, you will need to overcome the main monster which is greed.

If you can't control your greed then don't even bother trading fx cos it must end in tears.

goodmorning bro,
please am currently facing a great financial hardship, I can't narrate how bad it is with me right now.
please help me with any amount, even if its 1k

0242205065
Wemabank

thank you and God bless you sir

Austema:
goodmorning bro,
please am currently facing a great financial hardship, I can't narrate how bad it is with me right now.
please help me with any amount, even if its 1k

0242205065
Wemabank

thank you and God bless you sir

I perfectly understand your situation and i must let you know you are not alone in this boat, the whole world is going through hardship with covid-19 threatening jobs and businesses all around the world.

I pray that GOD meets your needs and i encourage you never to give up.

All the best.

Toks2008:
I perfectly understand your situation and i must let you know you are not alone in this boat, the whole world is going through hardship with covid-19 threatening jobs and businesses all around the world.

I pray that GOD meets your needs and i encourage you never to give up.

All the best.

Please I need your email address

the problem we have in Forex trading are the brokers....some of the brokers that African Market are dubious and Fraudulent. They are much aware that there is no law in place that will curtail their excesses.

They manipulate their chart and charge high fees and also steal from their client.

Toks2008:
All the best.

The greatest training you can ever give yourself on fxtrading is discipline to trade without greed....no material online or offline can teach you this except you.

As long as you don't have greed under your control, I will advise you just forget fx trading...you can as well go play lotto

Please what is a practical example of greed in fx trade

Cann one say its over trading

criuze:
Please what is a practical example of greed in fx trade

Cann one say its over trading

Overtrading is not greed as long as you trade by the rules.

But greed is using crazy lot size

akeensbussy:
the problem we have in Forex trading are the brokers....some of the brokers that African Market are dubious and Fraudulent. They are much aware that there is no law in place that will curtail their excesses.

They manipulate their chart and charge high fees and also steal from their client.

How true is this pls ?.

akeensbussy:
the problem we have in Forex trading are the brokers....some of the brokers that African Market are dubious and Fraudulent. They are much aware that there is no law in place that will curtail their excesses.

They manipulate their chart and charge high fees and also steal from their client.

.


Is hotforex a good broker? Any manipulation?

Hi Toks2008, went through your posts as far back as the ones of 2008 on this topic. Am willing to learn from you. Can you please have me as your mentee? Thanks

Toks2008:
Overtrading is not greed as long as you trade by the rules.

But greed is using crazy lot size

Toks2008:
Hi Everyone,

I am here to tell you in a nut shell the simple truth about forex trading.

It is real and very very profitable and also very very very v, e, r, r, y risky. Go ask buffet(Richest man in the world)

Forex trading is not different from what we see in the bereau de change where they buy dollars to sell pounds or sell eur to bur pound or dollars but in the case of automated forex trading, we see these trades take place in mutes or hours and even days and months depending on the way you want to trade.

But because we can;t trade on our own, that is where we need a broker to trade on their platform and they charge their own commision per each trade you execute.

Note these points:

1. If you don't have a good source of money inflow, you cannot trade forex
2. If you hate reading and constant self improvement, forex is not for you.
3. If you are greedy, simple forget about forex trading.

I can continue to list many factors that affect forex trading business in Nigeria and the number factor is that many people trading forex in Nigeria are poor or jobless and this is not good for forex trading because if you are not careful, you may lose so much that you may need to fund your account to continue traing and that is where the other financial source comes in.

But this is no big deal because you are supposed to demo trade for as long as you are sure you can trade real money so no fear. For your information, i have been demo trading for close to three months and i am still demo trading but i am now experienced enough to trade real money so i just funded my account with just $150 and by september i will put in 1000usd.

Now enough of all these ecclesiastical mumbo jumbo and lets get down to the basis.

IF you are really interested in starting a forex trading business, then you can totally depend on these info worth thousands of dollars but i will give you free of charge.

Follow these steps to get started.

1. Get a desktop or laptop computer with good speed and processor with internet connection. Use a good dial up for a start.
2. Go to babypips.com and read the online forex for beginners book (This is the best e-book for forex newbies)
3. Go to google and write the phrase (Downloading interbank platform for forex demo trading) Note that you can use any platform later when ready for real trading and you can continue with interbank. So familarise yourself with trading with platforms which is a practical approach rather than giving yourself headache raeding your life out. Simply read the manual about the platform which you can get from the help section on the platform.
4. Please read extensively on money management as this is the area many people fail in forex. And read extensively about resistance and support level as well as trend lines as these areas are the focal points of making money in forex.

With babypips.com and a demo account for you to practise with, forex will make more sence to you and you can hope for that financial freedom you have always dreamt about.

Trading forex is the best thing that will ever happen to you. Depending on your start up cap1tal and lot size you can make 100usd, 1000usd, 10000usd, 100000usd, 1000000usd or more in just one day and you can also lose same.

Now let me show you why many people lose money so swiftly in forex and they come out saying forex trading is a scam.

Look at this two traders, one is disciplined and the other is very greedy.

I will be using some terms but you will understand them as you read your babypips beginners education.

DISCIPLINED TRADER

Opens a live trading account with lets say $1000 and on a daily basis, he makes only 7 trade. On the average, he wins 4 trades and loses 3 on a daily basis.
lets say he buys GBP/USD and he trades 0.1 lot, he stop his losses at 30pips($30) and he takes his profit at 80pips($80) and at the end of the day lets say he was able to make just 7 trades and he lost 3 and won 4, this means a loss of $90 an a win of $320 making $230 PROFIT for that day.

INDISCIPLINED TRADER

Opens a live trading account with lets say $1000 and on a daily basis, he makes only 7 tradeS. On the average, he wins 4 trades and loses 3 on a daily basis.
lets say he buys GBP/USD and he trades 1 lot, he stop his losses at 30pips($300) and he takes his profit at 80pips($800) and at the end of the day lets say he was able to make just 7 trades and he lost 3 and won 4, this means a loss of $900 an a win of $2400 making $2300 for that day.

I can hear you say so what the heck, he still made $2300 at the end of the day but have you asked your self what would have happened if he lost in the first two trades, that means he will not have enough money to trade profitably as he will be left with $400 and this will be two little to trade a good margin.

So you can see how easy it is for a greedy man to lose all his money trading forex and that is the story of many Nigerians in particular, they want to trade bigger lot with smaller amount thereby losing all their money but why can;t they be ok with at least 200usd or even 100usd profit daily and build their trading capital to the level where they can conviniently trade bugger lots.

And for those who are really interested and are only hoping to get even a computer system, we are designing a program that will put you on your road to forex trading in a matter of months.

So are you interested in Trading forex profitably?

Just send me an e-mail and i will reach you how to make consistent profits only if you are ready to be very disciplined.


For more info on forex trading e-mail forexerefuge@yahoo.com

Thanks

hello bro, a certain company is providing free forex Training around my hood, they demand Statement of account and lD card to open account for me, is this right? The company name is copyvest, are they legit?

ephisi:
Toks, the truth is bitter, very bitter. If u want to train eople tell them d truth of this game. I tell people the truth so that if they cant withstand d psycological strain of losing , the run away.

Rule no 1, do not trade with money u cannot afford to loose.
i am not saying u cant make money trading forex. What i am saying is that it dosnt come easy. Even with the best traingin, u are not guaranteed profit. simple. Why?

because as i said earlier, its all about psychology. 10% trading system, 90% psychologgy.
A profitable system is not a guarantee of making money. i dont know exactly how to explain it but toks will understand what i mean. Alot of peopl train on system, softwares, techniques, but how many people do u hear talking about trainingon trading psychology and mental fitness. If u like use all d systems profitable on earth without mental fintness and trading psycology. it will get u no where.
Thtas why i said it will take u time to become a seasoned trader.
Any one can trade under 1month, but not anyone can make money trading forex in just 3monhts.
u make money, u ill certainly give it back to d market iff u havnt spent time trading.

i still maintain my stand, it will take u atleast 1yr to become an average trader.

Also, the good traders dont waste time looking for people to train, people runafter them.

if u are a trainer, u wont have time to trade, and if ure a trader u wont have time to trains shikena

. hello bro, a certain company is providing free forex Training around my hood, they demand Statement of account and lD card to open account for me, is this right? The company name is copyvest, are they legit?

LovesonBlezz:
hello bro, a certain company is providing free forex Training around my hood, they demand Statement of account and lD card to open account for me, is this right? The company name is copyvest, are they legit?

ID yes.

Prove of address YES and this needs not be statement of account

Toks2008:
Hi Everyone,

I am here to tell you in a nut shell the simple truth about forex trading.

It is real and very very profitable and also very very very v, e, r, r, y risky. Go ask buffet(Richest man in the world)

Forex trading is not different from what we see in the bereau de change where they buy dollars to sell pounds or sell eur to bur pound or dollars but in the case of automated forex trading, we see these trades take place in mutes or hours and even days and months depending on the way you want to trade.

But because we can;t trade on our own, that is where we need a broker to trade on their platform and they charge their own commision per each trade you execute.

Note these points:

1. If you don't have a good source of money inflow, you cannot trade forex
2. If you hate reading and constant self improvement, forex is not for you.
3. If you are greedy, simple forget about forex trading.

I can continue to list many factors that affect forex trading business in Nigeria and the number factor is that many people trading forex in Nigeria are poor or jobless and this is not good for forex trading because if you are not careful, you may lose so much that you may need to fund your account to continue traing and that is where the other financial source comes in.

But this is no big deal because you are supposed to demo trade for as long as you are sure you can trade real money so no fear. For your information, i have been demo trading for close to three months and i am still demo trading but i am now experienced enough to trade real money so i just funded my account with just $150 and by september i will put in 1000usd.

Now enough of all these ecclesiastical mumbo jumbo and lets get down to the basis.

IF you are really interested in starting a forex trading business, then you can totally depend on these info worth thousands of dollars but i will give you free of charge.

Follow these steps to get started.

1. Get a desktop or laptop computer with good speed and processor with internet connection. Use a good dial up for a start.
2. Go to babypips.com and read the online forex for beginners book (This is the best e-book for forex newbies)
3. Go to google and write the phrase (Downloading interbank platform for forex demo trading) Note that you can use any platform later when ready for real trading and you can continue with interbank. So familarise yourself with trading with platforms which is a practical approach rather than giving yourself headache raeding your life out. Simply read the manual about the platform which you can get from the help section on the platform.
4. Please read extensively on money management as this is the area many people fail in forex. And read extensively about resistance and support level as well as trend lines as these areas are the focal points of making money in forex.

With babypips.com and a demo account for you to practise with, forex will make more sence to you and you can hope for that financial freedom you have always dreamt about.

Trading forex is the best thing that will ever happen to you. Depending on your start up cap1tal and lot size you can make 100usd, 1000usd, 10000usd, 100000usd, 1000000usd or more in just one day and you can also lose same.

Now let me show you why many people lose money so swiftly in forex and they come out saying forex trading is a scam.

Look at this two traders, one is disciplined and the other is very greedy.

I will be using some terms but you will understand them as you read your babypips beginners education.

DISCIPLINED TRADER

Opens a live trading account with lets say $1000 and on a daily basis, he makes only 7 trade. On the average, he wins 4 trades and loses 3 on a daily basis.
lets say he buys GBP/USD and he trades 0.1 lot, he stop his losses at 30pips($30) and he takes his profit at 80pips($80) and at the end of the day lets say he was able to make just 7 trades and he lost 3 and won 4, this means a loss of $90 an a win of $320 making $230 PROFIT for that day.

INDISCIPLINED TRADER

Opens a live trading account with lets say $1000 and on a daily basis, he makes only 7 tradeS. On the average, he wins 4 trades and loses 3 on a daily basis.
lets say he buys GBP/USD and he trades 1 lot, he stop his losses at 30pips($300) and he takes his profit at 80pips($800) and at the end of the day lets say he was able to make just 7 trades and he lost 3 and won 4, this means a loss of $900 an a win of $2400 making $2300 for that day.

I can hear you say so what the heck, he still made $2300 at the end of the day but have you asked your self what would have happened if he lost in the first two trades, that means he will not have enough money to trade profitably as he will be left with $400 and this will be two little to trade a good margin.

So you can see how easy it is for a greedy man to lose all his money trading forex and that is the story of many Nigerians in particular, they want to trade bigger lot with smaller amount thereby losing all their money but why can;t they be ok with at least 200usd or even 100usd profit daily and build their trading capital to the level where they can conviniently trade bugger lots.

And for those who are really interested and are only hoping to get even a computer system, we are designing a program that will put you on your road to forex trading in a matter of months.

So are you interested in Trading forex profitably?

Just send me an e-mail and i will reach you how to make consistent profits only if you are ready to be very disciplined.


For more info on forex trading e-mail forexerefuge@yahoo.com

Thanks

Brilliant explanation. Thank you. Can I reach you privately?

nams77:
Brilliant explanation. Thank you. Can I reach you privately?

You can ask any questions here so people can learn

Toks2008:
You can ask any questions here so people can learn

I understand your directive bro but my inquiry may include revealing some details about me which I wouldn't want to do on a public forum even if it is a faceless one.
I wish you could understand

nams77:
I understand your directive bro but my inquiry may include revealing some details about me which I wouldn't want to do on a public forum even if it is a faceless one.
I wish you could understand

Send me a PM

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Cindove:
Just sent you a mail sir, thanks for the response

hey, I love your enthusiasm for the Forex markets, as I also have such passion for it.. send me an email manuelrye22@gmail.com let's get intouch