₦airaland Forum

Hi,

It seems you are a lazy learner. All these questions u are asking are rudiments of forex trading.

Please go to babypips,com to learn more.

You may add cutekorede@hotmail.com to ur chat list so that we can chat. I train people online.

Thanks

Just noticed that the reply link on the thread page has been removed thereby making it impossible for people to reply to the posts. Please look into that.

Thanks

Na Wa For Nigerians,

EVDO,1X,10X,BROADBAND,DIAL UP , HABA These are all Effisis in the name of internet access

What are we looking for rather than a good isp that offers a steady inetrnet connection with good download speed. If a dial up is ok for you then go for it cos in my own humble opinion, all these funny terminologies are just ways of decieving Nigerians into believing what is not.

I am not here to promote any company or product but i have been using Multilinks dial up for 4years and i have been ok with that until last two weeks when they lost their signal in my area and after waiting for 2 weeks without any improvement, i had to get another good browsing system and i just subscribed to reltel zoom mobile internet service and so far so good, the speed is ok for me. I paid 15k and i have 2weeks free subscription and 5k every two weeks afterwards.

So the point i am trying to make is that you don't have to spend so much in the name of getting an out of the world download speed. Just get a good internet access with a minimal fee and you are good to go. No system in the world is perfect so just get any good one and be ok with that.

Toks

Hi Naijacute,

My ISP  lost its signal in my area so i was offline  for about two weeks but it is resolved  now.

Thanks for your matured disposition towards this issue. It is indeed a magnanimous gesture that depicts a person with sound sense of judgement.

Thanks once more.

Toks

Thanks for your response naijacutie,

I would like you to go through hat thread once more.

They are actually two and i am talking about the one with over 900 views and 45 responses.

In a forum such as this, you cant just avoid the situation where people would love to advertise products and services to people.

The truth is that life is about choice. I got duped right on nairaland by an unscrupulous guy claiming to fund liberty reserve and eve rsince, i have been canvasing against the idea of using exchangers without physically visiting their office or seing the person.

Online fora are suppose to serve as a threshold for illuminating ideas and views on various issues and i guess that is why you have different sections.

Show me one thread under any business related section or any other section where people will not advertise their product or services related to the topic of the thread.

"Forex trading,How profitable" is a thread that gives an overview of Forex trading which we all know is not a scam or illegal business and this is why i cant really understand why seun compared Forex with the likes of hyips and mlm.

For the fact that some greedy people who fail to spend time finetuning their trading skills lose money in forex does not make it a scam and that is why i am very sad that a thread that extensively educates people on how to profit from Forex trading is removed just like that.

I am not a pro but with my little experience i have over 30 trainees that i presently chat with online guiding them through profitable trading and ask any of them if i ever collected a dime from them. and even if i do, the point remains that the thread ought not in anyway be removed.

I will urge you once again to read the 2 page thread once again and if you still feel it should remain removed, i will leave you to execute your veto on that.

Thanks

Dear Nairalanders,

Good day to you all, just want to express my observation to you all.

Seun wrote this and i quote
"If you post anything related to , forex trading, investment schemes including high yield investment programmes and multi-level-marketing schemes or anything that's percieved as a spam, you will be removed from the forum and your entire ISP may be banned.  please be warned"

But please how can you immagine an online forum to make these rules when the same forum advertises same venture on its web pages. HABA

I can't believe that any one that is very enlightened will any reason to send a widely read thread "Forex trading,how profitable"

Rich in content,viewed over 900 times with more than 45 replies tothe recycle bin. Haha, let us be diplomatic a bit.

I am so offended not because it was sent to the bin but for the fact that there is no moral justification for this.

Many threads under romance and sexuality ought not to be read on nairaland but you will see them left for months yet an educative and informative thread like this removed just like that.

Check all my all posts and you will see that they have great substance and you can only imagine how many people have thanked me over the phone for my numerous threads.

I am using this medium to sign offf permanently from posting on nairaland and i will let every other fora online learn from the unwarranted and hypocritical act of whoever removed the thread.

We nairalanders make nairaland, what it is, without us there will not be nairaland.

On the final note, i am telling the moderator of this site to remove any advert concerning forex trading on this website or tender an unreserve apology for removing that thread.

I rest my case.

Hello Nairalanders,

Saw this article online so i felt it might come in handy in ecplaining what Forex trading is all about. Read on.

Forex day trading is the most profitable and attractive investment opportunity because you can do it from home or office and from any country in the world.

Most people from middle class make their money from investments in real estate, stock trading, bond trading, mutual funds, CDs, auction programs and various internet programs and other small businesses.

They may have never heard about day forex trading, which is where multi-millionaires and billionaires make their money.

Until now, you may have never known how easy it is to make fast money from forex day trading, because nobody has ever given you the correct information, as I will in this article.

In forex day trading, you don't need to do any marketing or selling or internet promotion to succeed.

In forex day trading, you don't need to spend thousands of dollars to do any internet promotion.

In forex day trading, you don't need any stocks or warehousing.

In forex day trading , all that you've to do is open an account with one of the brokers with as little as $300 or $2000.

Then follow simple instructions to buy and sell the currencies.

When the price of the currency is low, you buy.

In a few seconds or minutes, the price will go up, and you sell it and make a profit.

By so doing , in a day, you can easily make $500-$1000 by just buying, selling and trading these foreign currencies for about 3 or 4 hrs!

The more money you put in your forex day trading account, the more money you can make.

You can use $1 to control $200 investment in foreign currencies.
$200 to control $50,000 investment.
And $1000 to control $200,000 cash.


And get this:

You don't even have to be stuck sitting behind your computer buying and selling these foreign currencies.

You can enter all your buy trades and specify the sell prices you desire and then log off.

Whenever the values of these foreign currencies rise and your selling prices reach, the currencies will be automatically sold for you and you make money!

If you put $300 in your LIVE "Forex day trading", you can generate a minimum of "$10 in 10 mins." or about "$50" minimum daily, 6 days/wk!

If you put $1000 in your LIVE "Forex day trading", you can generate "$100 in
10 mins." or about "$400" minimum daily, 6 days/wk!!

If you put $10,000 in your LIVE "Forex day trading", you can generate "$300 in
10 mins." or "$1000" minimum daily, 6 days/wk"!!!

If you are very ambitious build your live account to $50,000-$100,000 account, you may possibly rake in $1,000,000 in 1 year!


You can do forex day trading and at the same time keep your day job, because in forex day trading, there is no work to do.

In the future when you have made hundreds of thousands of dollars, you may then quit your job and just keep doing forex day trading forever and go on permanent vacation!

To understand the beauty of forex day trading Picture this:

In the morning, you get up from sleep at 6 am.

You go to your bathroom and have your shower.

At 7am, you hurry and eat your breakfast.

At 7.20 am, you login into your forex day trading account on the internet and spend 10 minutes to buy about 3 or 4 different currencies, [for example British Pound, Euro, CHF (Swiss Currency) and Yen (Japanese currency).]

You can specify the price at which you wish to sell each currency.

Then you can log off.

By 9 am, you're at work in your office or business place.

You do your job as usual and by 5 pm, you're finished and heading home.

When you get back home around 6.30 pm, you login into your forex day trading account to see how much money you've made.

Holy Molly, there in your account it says you have made $750!

"Is this for real?", you wonder�

Yes, it is. (Your eyes are not deceiving you�)

$750 in a day for just clicking your mouse twice and doing no work?

(Whereas at your job, you work 8 hrs, but make only probably $150, )

This is how easy it is to make money from forex day trading.

But before you use real money to open a live forex day trading account, you have to open a free trial (demo) forex day trading account and practice first, to understand how it works and to acquire the right skills.

This free demo (trial) forex day trading account (forex simulation trading) will help you to reduce a lot of risks that can lead to loss.

In forex day trading, you can choose how much money to invest, how much money to make and when to make it.

You can make money daily, 365 days all year from forex day trading.

Your computer can be transformed into a personal, home "ATM" machine that cranks out cash for you daily (without large investment or hassles) from forex day trading.

In forex day trading, you can choose what type of risk you can manage, when to invest and when not to invest.

In forex day trading, you're the boss. You may do as you please.

When forex day trading is compared to other investment programs such as stock trading, bond trading, mutual funds, real estate and regular business, it is evident that forex day trading is the fastest and greatest way to make money in the world.

Forex day trading is a 2.5 trillion dollars daily business and it is larger than all the stock trading in the world combined.

These are some of the reasons why I believe that forex trading is the fastest and best way to create fantastic wealth.

Perhaps from reading this article you'll now come to know why forex day trading is the secret behind the greatest wealth on earth and why it has been kept hidden from the average people of the world and therefore little known to the masses.

May these forex day trading insights open your eyes to the possibility of infinite wealth and success that can be yours from forex day trading.

Please feel free to print or publish this article anywhere and read and also send to your friends and well wishers and please preserve the author's resource box below.

Warmly,

Ikey Benney

Good day to you all,

During my online research, i have found a very educative link on how to use the Mt4platform to trade for maximum profits and i believe this will come in handy for most of my online students who always ask me to teach them how to use the mt4 and also for intending trainees in forex trading.

This will make my training simpler as you are expected to go through this using babypips as a guide while i take you on practical profitable forex trading classes.

This is the link and if for any reason the link is not properly displayed,them i will give it to you in the chat room.

To learn about how mt4 latform works  http://www.metatrader.info/book/print/27

Thanks

pip4wealth:
Forex trading is a two way sword that can make money for you as well as negativelly kill your money. The truth of the matter is that it is a business that is highly profitable with almost equal amount of risks. Over the years, my finding on most traders that have lost their money is that an average nigerian want to reap where they have not sowed, most young trader want to make money without sufficient training. This account for the 95% reasons that the failure rate recorded is so high.

For powerful and up to date resources on forex Visit.
www.forexelibrary.com

That is a real fact.

Asides this, greed and lack of discipline in money management is another big factor responsible for the great financial loss in Forex.

I am also guilty of not adhering to strict money management rule and it has cost me a great deal of money.

The truth of the matter is that if we can all imbibe the strict money management rule, we will have no problem with forex trading but most people will want to make 1000usd a day with 1000usd trading capital, Haba!

The best money management rule is that you place trades of risk to reward ratio of 1 to 3 and risking just 3 percent of your capital.

Many people open a trade without using a stop loss that is commensurate with the time frame thereby getting knocked out over and over again.

Using lots sizes that are far bigger than your trading capital is also a big issue. If you open an account with 1000usd for instance, you are suppose to expose only 3percent maximum of that capital in any open trade which means you need to open a very small lot like 0.05 and your calculated stop loss should be equal to 3% of 1000usd which is 30usd.

So lets say you are placing 0.05 lot on just one currency pair, it means you will earn 50cents per pip movement in the currency pair either to the positive or negative direction minus the spread deducted by the broker.

So using 0.05lot and risking just 3% automatically means that your stop loss will be 60pips and if you are using 0.1lot, the stop loss will be 30usd

Many people will place a trade with 0.1lot size with 1000usd trading capital and place 3trades at a time with stop loss of say 30pips each on 1hr or even 15mins chart just to get knocked out before the trade starts moving in the anticipated direction thereby losing 90usd jsut like that.

So why not place a little lot size of even o.o3 and place your usual 3 trades using 50pips as stop loss each and you will be suprised that even if you get knocked out, you will only be losing 30usd.

So lets assume you place 6 trades for the day using the perfect money management rule and you made profit on 3 and lost 3 using the perfect money management rules

Trading capital 500usd   lot size 0.03 

First trade              Buy gbp/usd   take profit 150pips  stop loss 50pips    profit 45usd
Second trade         Buy Eur /usd   take profit 150pips  stop loss 50pips    loss  15usd
Third trade             Sell Gbp/usd   take profit 150pips  stop loss 50pips    profit 45usd
4th trade               Buy usd/jpy     take profit 150pips  stop loss 50pips    profit 45usd
5th trade               Buy usd/chf     take profit 150pips  stop loss 50pips    loss 15usd
6th trade               sell usd/chf     take profit 150pips  stop loss 50pips    loss 15usd

Total loss = 45usd and total gain 135usd  which means you have made 90usd for the day so you can see the effects of proper money management.

It gives you peace of mind and sustains your capital for a very long time. Though we all know that it takes graet discipline to abide by it but with Gods help and great determination on our part, we will get there.

Toks

Hi Nairalanders,

Please i am using this medium to warn every user of these online accounts to avoid patronising people who claim to operate e-currencies esxchange services online.

If you must fund your online account of any kind, please visit their office and let them fund your acount first before handing your money over to them.

NEVER PAY TO ANYBODY BANK ACCOUNT AND I REPEAT NEVER PAY TO ANY MERCHANTS ACCOUNT

I am talking about Nigerian exchangers who claim they will fund your e-currency accounts thereby stealing your money.

Many of them use GTB(Guarantee trust bank) just for you to pay the money and never have your account funded.

These GOD forsaken sons of the devil go as far as building websites for their criminal act. Can you beat that?

Any merchant who discourages you from coming to their office for instant funding should be avoided like plague.

A guy by name Chris okeke with Gtb account number 2032265591590 who claims to run an exchange firm by name webpayNigeria just scammed me.

As for visa/master cards

Please i will advise you to get these from our banks here in Nigeria and avoid these online card merchants. I got duped by Tru-cards.com to the tune of N40,000 to get a virtual visa card.

A word is enough for the wise.

I rest my case

Toks

Hi Nairalanders,

Please i am using this medium to warn every user of these online accounts to avoid patronising people who claim to operate e-currencies esxchange services online.

If you must fund your online account of any kind, please visit their office and let them fund your acount first before handing your money over to them.

NEVER PAY TO ANYBODY BANK ACCOUNT AND I REPEAT NEVER PAY TO ANY MERCHANTS ACCOUNT

I am talking about Nigerian exchangers who claim they will fund your e-currency accounts thereby stealing your money.

Many of them use GTB(Guarantee trust bank) just for you to pay the money and never have your account funded.

These GOD forsaken sons of the devil go as far as building websites for their criminal act. Can you beat that?

Any merchant who discourages you from coming to their office for instant funding should be avoided like plague.

A guy by name Chris okeke with Gtb account number 2032265591590 who claims to run an exchange firm by name webpayNigeria just scammed me.

As for visa/master cards

Please i will advise you to get these from our banks here in Nigeria and avoid these online card merchants. I got duped by Tru-cards.com to the tune of N40,000 to get a virtual visa card.

A word is enough for the wise.

I rest my case

Toks

Hi Nairalanders,

Please i am using this medium to warn every user of these online accounts to avoid patronising people who claim to operate e-currencies esxchange services online.

If you must fund your online account of any kind, please visit their office and let them fund your acount first before handing your money over to them.

NEVER PAY TO ANYBODY BANK ACCOUNT AND I REPEAT NEVER PAY TO ANY MERCHANTS ACCOUNT

I am talking about Nigerian exchangers who claim they will fund your e-currency accounts thereby stealing your money.

Many of them use GTB(Guarantee trust bank) just for you to pay the money and never have your account funded.

These GOD forsaken sons of the devil go as far as building websites for their criminal act. Can you beat that?

Any merchant who discourages you from coming to their office for instant funding should be avoided like plague.

A guy by name Chris okeke with Gtb account number 2032265591590 who claims to run an exchange firm by name webpayNigeria just scammed me.

As for visa/master cards

Please i will advise you to get these from our banks here in Nigeria and avoid these online card merchants. I got duped by Tru-cards.com to the tune of N40,000 to get a virtual visa card.

A word is enough for the wise.

I rest my case

Toks

Hello Nairalanders,

Hmmm! This is getting very interesting.

Well as you can see from the post above about managing trading accounts, you can just relax and rake in profits month after month.

PURE NONSENSE

If you read through the post, they share your profits but you alone bare the loss. Who is fooling who?

Its either you learn how to trade yourself or you simply forget forex trading. PERIOD

Look at the screen shot and you will see the type of mediocres claiming they manage funds. Imagine trading 1 standard lot on just 5000usd trading capital and using a broker that does not offer a micro lot.

I have personally lost about 2000usd in forex before due to bad money management using the same broker they are using (Fx pro)

I am not writing this to create an undue confrotation but please guys, do your home work properly before coming here to advertise your mediocrity in the name of managing forex accounts.

No insults intended so forgive me if this is hurting to you but you must understand that this is a respected forum where you dont just come to adverise an unfounded venture to people.

Thanks

Moyola:
of course other countries contributed in whatever way, aint sayin itz only Amerika,

As with America, it all started with the people who want to buy things they couldnt afford. Rather than save up 'til they could, they applied for loan eg. a new car, new furniture, tech. gadgets, home etc. Normally, such people would be turned down if their income suggest they would be unlikely to pay back the loan. But in recent years, lenders had so much money to lend and had methods often deceptive methods of making profits, 2 cut da lung stori short, lenders offered to lend money to unqualified borrowers.

So now, a record number of US. homes are in foreclosure. The number of repossessed cars has increased 10% last year and expected to rise an additional 7-10% this year.

Thats right.

Sometimes i wonder if it was foolishness on the part of the western world or if thats just their genetic makeup.

Imagine banks writing to individuals to get a loan and practically enticing people with "regular jobs" to get a car,house and many other properties worth hundred of thousands to pay back over years and i have always wondered what will hapen if this person defaults in any way by virtue of unforseen circumstances.

Believe this or not. the global failing economy will only affect Nigerian in terms of crude exports and i don't see this affecting the Nigerian economy as a whole since we have neverf felt the impact of this crude oil sales anyway.

Remember that Nigeria is mostly a cash economy where the slogan of cash and carry rules. Until recently ehere some firms encourage you to get properties and pay instalmentally but you still need to make some downpayments.

And our banks will never give loans except you have strong collaterals to back it up and trust them to waste no time in recovering their money.

Our banks have merged and therefore the issue of bailout has been tackled so in one way or the other, Nigeri has executed a proactive measure in curbing this global economy saga.

In view of this, i have a strong believe that it is time for Nigeria to take advantage of the present situation to metarmophous into a global economy giant.

I rest my case.

Toks

Hello everyone,

Please and please i would like to advice any one not to overlook the importance of trading micro lots and never to open a live account with a broker that does'nt offer micro lots which are from 0.01 t0 0.09.

I am a swing trader and i am used to trading micro lots which a high risk/profit ratio but this was because i usually place lots like 0.05 or even less and this allows me to make consistent profits but i once tried trading a mini lot of 0.1 which is not too high though but not ideal for swing trading that has a low capital.

Believe this or not, i lost close to 2000usd trying to scalp since i was unable to swing trade with the broker i used (Fxpro)

Why i am writing this is to warn every intending Forex trader to look for brokers that allow micro (not mini) lots as this allows you to make a decent income of about 100 to 150usd daily with a trading capital of 1000 or 1500usd.

Please forget scalping I REPEAT, FORGET SCALPING EXCEPT YOU WANT TO BURN OFF YOUR HARD EARNED CASH

If you want to learn swing trading, i will gladly be of great help. It gives u peace of mind and you are sure of making profits 8 out of 10 trades.

Be warned

1. Choose a broker that offers micro lots.
2, Swing trade and never scalp

Forex trading is very profitable but please start small. The same techniques you are using to make 100usd daily with 1500USD capital will make you 1000USD  daily in a couple of months time when you have built your account up to 10,000usd,

Stay blessed

kokorunna:
Forex Trading is very profitable and risky, but you do not need to pay anyone to teach you.

Drop me an email kokorunna@yahoo.com and I will send you some information

www.moneysaversforum.com

I quite agree with your notion but never the less, you definitely need someone to put you through and that is tantamount to teaching. It is this teaching or whatever you may term it that people pay for.

For instance, today, i can say i am a good trader making profits consistently but before i got to this level, i read my head out day and night trying to get the drift of forex trading. At a stage, my wife got so angry that she treathened to hide away my laptop since it has taken her place.

But now, i can be proud to say boldly that i am a good forex trader but you know what; despite all the stuffs i read, someone still helped me out on the use of mt4 platforms which ofcourse without his help, i will still be distances away from trading profitably.

So bro, you definitely need someone to teach you some key trading methods to make it in forex.

That is why i encourage every interested individuals to add my e-mail to his friend list so that i can give them free mentoring to a level where they are sure of making profits consistently.

Thanks

Hmm,

I am very impressed with the explanation on this thread as concerns sleep paralysis. i experience this a lot and the worst part is the hallucinations that come with it where a mere cotton blinds will look like the shape of a person looking at you and all you can think of is that maybe an evil force is presing you down. Sometimes, you may start hearing funny sounds as if someone is talking to you but all these are as a result of your brain signals which are incoherent as at the time you are experiencing this.

Thanks once again for your info, it will surely allay the fears of many people experiencing this and always thinking that it is the wicthes in their neighbourhood that is attacking them.

Toks

baccu:
Hello dear nairalanders, i have read a lot about forex but what is not so clear to me is how easy it is,
Can anybody tell me more about it?

Hello Mr,

Your enquiry about Forex trading is rather rethorical because if you have read a lot about forex, you ought to know by now if it is easy or not.

Nevertheless, i would like everyone intending to post any topic regarding forex trading to do that under the thread "Forex trading, how profitable" it is better we streamline the forex discusion to one thread in order to maintain the status quo of Nairaland. So please go there and read about forex trading in a wider context.

Thanks

icon2:
Hi guy i need someone to give me link to some forex brokers that uses meta4 trading platform, please the broker should be one already tested and trusted and has its minimum acc opening not more than $1000. I also need a free trading aid sofftware with accurate buy and sell signals.
My email is
gicon101@yahoo.com

Hi Bros,

In view of this, i will gladly suggest that you spend more time educating yourself by still demo trading for another two or three months if you dont want to have your hands burnt.

You dont need any trading software to be a successful trader. The fear of trading software is the beginnning of wisdom. Create your trading style.

I suggest you read about Pivot ponts, trend lines with support and resistance. Love them like you love your lady and embrace strict money management like your life and you will have no problem in trading.

For those willing to get training from me, please follow the steps i wrote above.

Thanks

I have recieved several e-mails asking me to give the combination of good technical indicators to use and also the practical steps to follow.

We will be using the principle of Kiss(keep it simple stupid)

Ok These are the simple steps,

1. Add cutekorede@hotmail.com
2. Download interbank demo mt4 platform.(Go to google to type in the phrase)
3. Open a demo account with 200usd
4. Now use bollinger bands with 100sma and candlestick charts and add RSI(14) to it Remember to read about trend lines, support and resistance because these are the strategies we will be using. And also remember to visit http://www.babypips.com to get free education while i guide you with the pracrical.

I am train people online on mondays and tuesdays, so see you in the chat room.


Thanks

Ok Folks lets get started.

If you need a real time practical training from me. then simply add this e-mail to your messenger list. cutekorede@hotmail.com

You are not qualified for this training if

1. You dont have a very good computer with at least a dial up connection for a start.
2. If you are not willing to constantly educate yourself

Now before you start chatting me up, follow these simple steps.

1. Visit google and type the phrase "Downloading mt4 demo platform for forex trading" you will see different options so choose anyone and follow simple instructions to download but for ease of training, you can download interbank mt4 demo platform.

2. Visit babypips.com to read the free training manual which ofcourse will be our training handout.

3. Leave the reat to me.

thanks

toks

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 can't 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 can't 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 don't 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 don't 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

I get the angle you are coming from but never-the-less, the truth of forex trading is that it requires proper self education and training and the number one killer of forex traders is emotion. That is why i wrote earlier on that for you to trade without emotions, make sure you use proper money management and ofcourse you should have another source of income to cushon any effect as a result pf losses if inqured.

About having time to train people, i have a dedicated time set aside for this and my training is online based through chatting which makes it very easy for me.

And the way i do this is in a very informal manner which makes a totally dull person to get the drift of the market easily and to be a profitable trader in a very short time.

I checked your thread on forex factory and if u will agree with me,you were trading as well as chatting so i totally disagree with the notion that traders good traders don't have time training people.

As for looking for tranees, i am not doing that but due to my nature of wanting to share information, i simply offer to train people free to a level where they are sure of trading profitably then they can pay for the second part of my training which will make them place profitable trades and winning consecutively.

Thanks

Fellow Nairalanders,


I remember a thread that reads"Praise God, I finally landed a job in intercontinental bank after waiting for years,

What got me so angry was not the thread itself but series or congratulatory posts in response to this thread and i remember my post asking nairalanders if they would have sent same congratulatory messages to this chap if he posted "Praise God, i have finally succeeded in setting up a zobo juice production business"

What i am trying to say in essence is that we all should embrace the enterprenural atitude. Yes we all know how hard it is in a downturn economy but the truth is that if your mind is willing and with God by your side, you will make it in any business of your dream.

Remember Coca cola story. This guy was moving from house to house, selling coke then in a kettle and the colour was not the one we know today. The guy made his land mark but he may not make all the millions then but he created a world wide brand that has affected generations past and will affect generations unborn,

Even the owner of the banks you crave to work were dreams and initiative of some people like us so you can also be what you want to be and achieve whatever you dream of.

To end this, i would like to tell you the secret of succesful men. Failure excites them, they drink risk and eat challenge and dream only of success. Pray hard and command whatever you want to come to you and that will happen. Remember that you are created in GOD's image so the same creative power that God is in you.

Dream of a business idea, do your home work, pray to GOD be patience and persevere and i bet you that success is just around the corner.

Toks

Hello nairalanders,

A nairalander sent me the following mail:

hi Toks,

Am intrested in the recharge card business.Let me know your price for the
information. secondly, i have gone for forex trading trainning and opened an
account,but i lost all my money, i would like to know how to make profit on that
too and the price for your information on it. thanks


Below is my response for all of you to learn from.

Thanks so much for your e-mail.

The truth is that as per the recharge voucher stuff, i was honest enough to let nairalanders know that if you know you cannot find a way distributing them every day, then don't think about it except ofcourse you don't mind making 1k in  a week.

off quote (Let me also remind you that i can really help you with useful tips on how you can actually profit from it without going about distributing but you may have to look at a bigger financial set up like 1m and above)

Secondly as per the forex thing, i will offer to train you for free, mark my word free until you are able to trade profitably then you can pay me later at an agreed fee.

Off quote (Please if you are a nairalander interested in making money trading forex, please post any question here and i will be glad to train you for  free until you start making at least 50 to 100pips daily then we can talk about payment terms.

And as you can see what i wrote in my earlier post, this mailer lost all his or her money simply due to naivity because i am sure he or she rushed into live trading without demo trading for at least 2 or 3 months.

If you want to profit in forex, never ever ever trade live accout until you can conveniently place ten trades without losing more than two or three.

Thanks

Hi everyone, some sent me a mail asking about softwares combination for forex trading.

Here is my reply to him so i am posting it here for you to learn from it.

Thanks for your e-mail,

The truth is that using softwares for trading outrightly can be very misleading but when combined with your knowlegde in Forex, you will only use it as a guide and not just as a 100% trading signal.

If you use winning solutions then i will advise that you strictly stick to the rules by buying when the trade enters the blue region but always use a buy stop and place it 5pips above the stipulated price quote then take your profit at 10pips below the take profit quote of the software but most times we see that the profit exceeds the blue area up to the overbought or oversold region,

Now to maximise your profit, i advice that you add to the winning position by adding another long trade by placing a buy stop of same currency pair a little above 5pips into the blue region and take profit at the same 10pips less than the software quote or you may let your profit run and use a trail stop of 15 0r 25pips

Using this signal with this method, you will be sure to get the best from wss without really looking for any added software.

Why people complain that some softwares are not, working is because they lack the rudimentary knowlegde about forex trading and depends solely on the software. Try reading about pivot points,then combine it with any software you are using, i am sure you will get a better result.

Thanks

Let me help you out in a lame mans illustration.

If you have 100usd to trade, trade with 0.01 lot making sure you dont risk more than 2usd or 3usd per trade which means stop loss at 20 or 30pips so lets say you are able to increase your trading capital to 1000usd, then start trading 0.1 lot making sure you don't risk more 20 or 30usd which means you will always stop your loss at 30pips maximum. If God Helps you and you are able to increase your capital to 10,000 then this is where the real forex trading starts because you can conviniently place 1 lot to trade where you make 10usd profit per 1pip(Every one digit move in a currency value) as against 10cents using .01 lot and 1usd using.1 lot.

So what happens when you now have up to 20,000usd trading capital, then you are made as you can place higher lots and make big money like 100usd per pips movement.

So lot sizes are just a yard stick to determine your level of earning per every trade you execute so it can be a factor in determining how big you earn and how big you lose if the trade goes against you.

I hope this explains your question.

Toks

ephisi:
Guy its very obvious u are not trading a live account. If u are not trading live, stop promoting somtin thats not working for u already.

First on your demo acount, u are not practising any moneymanagement.

You set a take profit without setting a stoploss.

You have already risked or actually lost 5%(about 100pips) of your account just to make 0.6%(15pips).

I believe you are not referring to my post because i did set a stop loss and take profit with 2 instances of good and bad money management.

ephisi:
Dont mind all this forex trades oh, im also a froex trader myself. Big boys in this game don't come online asking to show u d way.

To anyone who is interested in forex, i must let u know that it is very very risky.
It will take u over 1yr to become a baby trader and over 3yrs to become a pro. Its very profitable, but my guy u have to bew ready to face d stress of your lifer. especially psycologically.

Truth is forex trading is just like evfery other biz. The disiplined and pro traders make anything from 10% to 50% monthly. People selling rechargf cads and make this returns, people selling clothes can make this returns, many businesses can make this retuirns.

So u must have a passion for forex, also b prepared to loose up to 5000dollars ore more before u start making it in forex.

yes oh that is d truth. I'm tired of typing , if u want to hear more ephisi@yahoo.com.
i will only be telling you what this is really all about and make sure forex is really what u wnat to do.

Be warned.

All thes gutys here, tell them to show u their account statements of 1year with evidence of withdrawals from ther account.
That will be a good start
cheers

Mr please will you be honest enough to tell Nairalanders how long you traded on demo before trading live, maybe this was what led to your loss and therefore made all the assertions in your post.

If you are knowledgable in Forex, you will understand that it does not take a month to know how to trade forex profitably but all it takes is proper self education with practical approach with good money management.

What on earth made you conclude that it will take years to be a seasoned trader and why do you think that the big gurus will not spend time educating other people for a token fee. Haba, where did the good e-books like babypips and the likes come from? and where did the good trading softwares like forex killer, winning solutions come from? ofcourse from the gurus.

Everyone wants to make money so why won't they teach others for profits.

Let me be clear here, any openminded person will read my post and agree with the points i mentioned there and i would have pasted my demo account result here except that print screen function on my laptop is not responding to show that you don't have to spend months let alone years to be a profitable Forex trader.

I wonder why many people love deciet, if i have come here with some manupulative chart picture of my earnings, you would have believed me but because i said i have been demo trading for about 3months now, you are asking for a proof and who says the result of demo trading will not reflect in live trading.

Bros, life is a matter of choice and i have learnt in life that myopic people don't go far in life. Let people wait to see one year's screen shot of earnings before they learn the business,afterall, its never too late cos the business have been there even before i was born.

And lastly, i have not asked a dime from anyone rather i only shared my knowledge and experience with people to learn from.

Thanks all the same

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

Hi once again,

Many people have sent e-mail and some called asking about how to go about printing and profiting from reharge card printing.

You can read the details about the business in the post above and i repeat once more that you will only see good returns if you can go about distributing it but the summary of the business is that it is better than putting money in the bank.

Dont believe people who promise that you can make thousands a week from the comfort of your home doing this business, no way. If you can employ a trusted person who can distribute cards worth 70k every morning then you can make 1k daily so do the mathmatics and you will come up with the potential earnings per week based on your capital.

Now some callers may frown at my asking for a token fee for consultancy but this fee is nothing compared to the advice i will give you that will ensure fast returns on this business but the problem with Nigerians is that we love cheap information and most times free but you must start to understand that information is life.

For instance, i train people how to trade currencies and you can only immagine how much you can make from the comfort of your bedroom but the info that gave me the knowledge was very expensive but if i post a thread about tips to trade forex profitably, people will start asking you to send it to their mail address free. HABA Nigerians, wake up and understand that the difference between a rich and a poor man is information.

Thanks