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Forex - Are People Really Making Steady Money?

"FOREX" - Are people really making steady money?

The rate at which people talk about FOREX has reduced drastically. This is due to the number of people that have been "burnt".

Or perhaps those making the money are not talking about it.

What do you guys think? Cos I intend to trade forex.

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34 answers

i think some of them really are,  and so can u,

but the prob is, the ratio of success is really poor,  honestly speaking, the main reason behind this is over enthusiasm by the beginners and misguide by some spurious trades. so if wanna get real success in this trade then take move slowly approach.this will help,  never plunge into any decision listening to any traders,  that's one dangerous thing to do.u better do some study first and then start with a demo a/c.i hope u 'll be the best person to judge ,which traders to go with.so make an intensive study first.

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Thanks Mcjohn.

For those interested in daily forex signals, please visit the link below to get free signals from me and it will be free for the next two weeks.

Visit the link below to get free daily signals.

http://bizstuffs.com/index.php/board,150.0.html

But remember your money management principle of risk exposure cos you will be tempted to risk big lots due to the 80% accuraccy of my signals.

Thanks

Toks

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hi toks

i've been absent for w while in Nairaland.com. I just read your experience and it's touching. Accept my sympathy. We hope to live in a crime free world soon. (Psalm 37: 9-11) Carry On As A Man. Meet you at the top.

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Thanks for your question,

I strongly recommend a cents account for beginners and liteforex.org offers that. Any beginner who opens any other type of account asides a cent account should as well look for matches and burn his money to ashes. A word is enough for the wise. 30USD will be ok for a start which is 3000cents

This will enable you to trade as though you have 3000usd and you will build a stong trading system and discipline with this and if you eventually lose it, no wahala, you can put another 30usd until you are good. You will make 1cent per pip movement but the maximum account you can have on the cents account is 300000cents which is 3000usd

But if you are well grounded and ready to trade big money, Alpari is the way to go cos they are very well regulated. Recommended start off capital is 2000usd or 3000usd

Let me now the one u choose so that i can be of help to you.

Thanks

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@TOKS

Please , which broker do u use and whats their minimum opening balance.

Thanks.

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Hi Guys,

Thanks for the encourangement. Ok lets face it. Forex is a hard business no doubt so if you can really learn it, fine, if you want to use robors,its totally up to you and if you want to subscribe for daily signals, all well and good.

I will come in handy if you want proper training or daily signals so you can contact me.

The number one and infact the main feason people lose money is not really greed but poor money management so learn how to risk just 2 or 3% of your capital per open position.

You see, let me share one unique secret with you. You cant trade forex with small money and expect to make it cos your account must get wiped out with time because of money management and thats why you see many brokers offering you this opportunity cos theyk now that you will eventually lose it,

Ok lets look at this case scenario:

You have 200usd and you want to trade the smallest lot size on micro account which  is 0.01. You need to understand that forex,price action movemenet is our great enemy because you will see price retracing to more than 100pips sometimes before moving in the direction you anticipated so lets say you place a stop loss of 50pips, you will get knocked out losing 5usd which is more than 2% already and you can see this happening over and over again.

But if you have like 1000usd or more to trade,you can conviniently trade same lot with 150pips stop loss and you will always profit before your stop loss is hit and even if you get stopped out, you will lose jusr 15usd which is less than 2% of 1000usd so you see why you need big money to trade effectively.

This is why i train people with live cents account that will make you start off with 5000us cents which is 50usd and you can actually build a good trading character from there.

Stay blessed

Toks

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Hello Guyz,

Trading forex is the best to me despite the fact that my fingers had been burnt several times. Have lost more than i can imagine, but never give up, cos its real and i;m making money now, but making more money on FINANCIAL FIXED ODDS TRADING, i can bet and make double my betting or times 10 of it. I have very special techniques which have thought and trainned people on it and they are making good money on it, and its less risky and more profitable to forex. You can call me for more info. 08037699996.

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@Toks,

My condolence goes to you and your neighbours. You would definitely come out stronger.

Cheers.

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HOWEVER, SINCE I CAME ACROSS BETONMARKET, I HAVE BEEN MAKING MONEY STEADILY. ALTHOUGH I MUST CONFESS I MADE SOME FEW LOSSES AS A RESULT OF INEXPERIENCE AND GREED. BUT NOW I MAKE MONEY CONSISTENTLY WITHIN THE RANGE OF $200-$300 WEEKLY.I CAN SHOW YOU PROOFS.

WHO CARES TO JOIN ME?

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Hello all,

LEARN HOW I EARN N100,000.00 MONTHLY WITH FOREIGN EXCHANGE

For more details, visit us @ www.rfc-corp.blogspot.com

TEL: +234(0)8072503015

EMAIL : rfxcorp@gmail.com

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@Toks

My heartfelt condolence to u & ur guys

They think they hv hurt u, but its more and more sorrow to their[b] Misery.[/b]I & members of the house wishes u a quickest recovery

Aluta!!!! Continua, victoria ascerta.

You are more than them.

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Hi Guys,

So unfortunate that i and my neighbours occupying a six flat apartment were robbed at gun point in the early hours of sunday the 1st of march. These dare devil robbers came in through the small window of our gate man and tied him like a cow and later came in and dispossess us of valuables and cash.

Valuables and cash worth over 400k was taken away from my apartment which includes my laptop computer, my zoom internet usd moderm and so many other things.

I am using a another laptop now but i will need to retrieve all my data which will take some time and i am also resetting my charts and trying to pick my trades from where i left them. So unfortunate.

Anyway as regards my contact y, i will give you but please note that if you are contacting me for training, you will need to go to babypips.com/school to first and foremost aquaint yourself with the rudiments of trading cos i dont have time for those theories, i train practical for the first month without risking any dime and in the second month, you will be trained with real cash which is 50usd in cents(5000cents) account on lieforex platform. With this, you will learn proper money management and build your trading character.

Add cutekorede@hotmail.com to your chat list then lets get started.

Toks

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@toks2008

pls, like to contact.can you reach me. my contacts are under my signature.

cheers.

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Your comment is good, it shows you have used the Fap system. It truly have activation codes that only work on a system, and cannot be shared. But the goodnews is, i will help anybody that needs it get a copy and send its activation code to him/her.

if anybody is interested, lethim/her contact me in the contact details above.

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I love this forum. With time, we will pursue all those forex infopreneur posing a active traders away from this forum becasue we will soon make it hurt for them.

This is my comment on the FAP ( forex auto pilot) issue. FAP is the best EA I have ever used. I turned a $1000usd acccount to $6000usd in 2 weeks. But I dont like it for one thing-It has a poor money mangement. How will an ea work without a STOPLOSS. Marcus Leary, the owner of FAP claimed it has an internal smart SL. Please, let him tell that to newbies.

I dont have a single iota of doubt on the account history of mcjohn. That is typical of FAP. Yes. It gives beautiful account history. My only disagreement withthe history is the TP are not consistent. The traditional TP for FAP is 20 pips though you can adjust it. If you adjust, why using inconsistent TPs. Does he (mcjohn) adjust it every minute include the lot size?

I also tender to, with all due respect, diagree with the issue of sharing the software. It has an activation that once you activate, you will be given a unique number that you are to insert as key in the FAP settings. This number is unique and can not be used on different servers.

But if there is a way around it, mcjohn, I cut cap for you and I will like to know how.

Dedicated to your success,

successfulhassan

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toks toks,

you have been wonderful on this thread, its good to let them know the truth. And thats what you have just said. I dont want to get anybody confused. But i believe i have done something wonderful by at least letting people know a system that will save you of racking your brains to trade forex. Thats what i use and i feel good anytime i share it with people. If you need a copy of this software, contact me, Its free, Yes, I will give you the link to download it from the manufacturer's site. But mind you, there's activaton for the software. I can also help in getting this too

Have a nice day

mcjohn4smart@yahoo.com, 07026202326

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Hello once again Nairalanders,

Hmmm, well i am not discrediting the post by mcjohn only that i am very uneasy with the page he pasted above cos it does not depict an actual account history of the result he got using forex auto pilot.

However, i know that some robots work well no doubt but i still feel that it is very dangerous to put your fate on robots when you can really learn mechanical trading.

Sometimes i wonder at the way people are so adarmant as regards trading currencies because this business is not suitable for everybody. If you know your brain cannot desipher the techniques involved then forget it and look for other business to do.

The long and short of my story is that if you cant trade succesfully using your own mechanical method,then forget currency trading else you will lose your shirt.

Toks

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Nice reasoning. How i wish many forex traders can understand that swing trading is the best methodology in achieving consistent profits in forex. It requires patience and eliminates hypertension.

You only need to sell at overbought and buy at oversold regions targetting at leastt 100pips using the 1hr or 4hr time frames. Thats all.

If you are interested in learning swing trading mechanical method, just add my messenger address to your chat list and be ready to open a live cents account with 50usd(5000cents). With this account, i will teach you how to swing trade with 80% consistent profits using strict 2% exposure and profit to loss ratio of 1:3 or more.   My chat id is cutekorede@hotmail.com

It is very interesting and rewarding. This offer is open to everyone even if you are new to forex, i will only refer you to babypips.com to read the theory and when you are ready for practical training , let me know.

However i would conclude by letting everyone understand that scalping the forex market can be very dangerous due to forex price action movement. Swing trading is definitely the way to go.

As regards my signals, i have decided to give only swing trading signals and i am not in competition with anybody and this goes to e-guy. My signals are random and comes only when there is a swing trading  signal and i use 4hr chart.

For instance right now you can take advabtage of the following swing trading signals.

1. GBP/USD: BUY STOP AT 14370, TAKE PROFIT AT 14555 AND STOP LOSS AT  14100

2. USD/JPY: SELL STOP AT 96.80 TAKE PROFIT AT 96.10 AND STOP LOSS AT 98.00 BUT IN THE LONG RUN THE PROFIT TARGET IS 93.10

3, EUR/GBP: CURRENTLY ON DOWNTREND SO YOU CAN PLACE A SELL AND TAKE PROFIT AT 08787 AND STOP LOSS AT 08950

4. GBP/CHF: CURRENTLY GOING BULLISH SO JOIN THE TRAIN AND TAKE PROFIT AT 16920 AND STOP LOSS AT 16540

If these signals are followed, you will rake in over 300pips in the first two days of next trading week and these signals can come just two or three times in a week depending on when the opportunities arise. Its for you to check our website to see. And we will be offering free swing  trading signals for the next three weeks.

ON THE FINAL NOTE. PLEASE BE WARNED THAT FOREX IS A VERY PROFITABLE AND VERY VERY VERY RISKY VENTURE, LEARN THE BUSINESS AND MAKE CONSISTENT PROFITS BEFORE RISKING YOUR HARD EARNED CASH.

BE WARNED

Toks

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Hmmmmmmmmmmn interesting. Toks2008 has finally overthrown invest2009. This is what I have to say. I wont say toks is appropriately right in calling invest2009 a scalper. You can trade news on spike for minutes. I have used a software that those that. It uses hyperclicks i.e it will click the BUY/SELL button once your deviations are met else it will say NO TRADE. You can see it at http://www.secretnewsweapon.com/ by Felix Homgratus, owner of FPA.

Secondly, where I started casting doubt on invest2009 knowlege of forex is the area of trading 23 std lots ($230/pip). That is lot of money man.

With my 3 years experience, what I found out was that it is dufficult to make money through intraday trading using technical analysis. In fact intraday trading brings about the risk of overtrading which is the sister to greed, the family to emotions trading.

Presently, I am into swing trade and I am using the system of Rahul, an Asian developer at www.forexsuccessformula.com. It is good. I enter trades, give them limits and check the outcome the next few hours and some times days. I feel better with less hypertension.

You don't need to buy that course, I may give it to you but I have not decided yet. THis is getting longer than I expect, talk later

Commited to ur success

successfulhassan

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@Toks2008

Thanks Bro ,

I think you really doing a great job here ,

I'm about to check the web

Keep the good job up

We love you

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Forex is the buying and selling of one currency against another, with the hope that it will either rise or fall. simply put its a prediction game, if you are right you make money if you are wrong you loose money. over time people have developed ways to predict the movement of these currency and sometimes its right other times its wrong.

If you have inside information you might make money, if you make informed decisions you might make money, forex like every other thing in life requires careful planning and study, it is not a game for feeble people it is serious business with high risk.

someone once said "there is no short cut to any where worth going"

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i will talk to you later.

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Hey bro, how are you doing I will be happy if you can give me so cool lesson on this stuff, kindly hook me up please i will be looking forward to hear from you and i will like to meet in person. ok

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@tksays

It is people like you that mislead new traders. You expect someone to begin with a $100,000 practice account and start a real account with a minimum of $1.

Why would you want to practise with the amount you cannot start with?

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Brovas,

"If it sounds too good to be true, and there's no live account statement to prove, then it must be voodoo" You can make a lot of money from fx, but you need to be patient, have a good system, don't be greedy and always apply good money management. Don't risk more than 2% of your account on any trade. If you are new to the bizniz, go to school  (babypips).

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Has anybody heard/used FAP TURBO system? Learnt it's marvellous.

Please, share your experience if you are trading with it.

Thanks

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Hi Everyone,

Eku odun keresi, odun ayabo fun gbogbo wa o ni oruko Jesu. (Merry Christmas and a pipsfull new year) AMEN

Hope you all had a swell time yesterday. Actually i came across forex trading business about 2 years ago but never tried it until early this year.

I have seen the bad side and the good side and after thourough self examination, i found out that greed is the number factor for failure in the business.

The truth is that with just 200usd start up capital, you can conviniently make 20usd daily with a very strict money management. Now if we are patient enough, this account balance will grow to 540usd in a month.

If you continue in like manner, you will get 880usd at the end of second month. Now with the power of compounding interest, lets take a look at this analysis taking the worst case scenario of the average daily profits you can make and leaving out two days each month assuming you did not trade pn those days.

Initial Deposit ----200USD Using a Broker that allows micro account, stating with a total of 0.03 lots and targeting 150pips per day (i.e 50pips on 3 open trades)

Month lot size daily average profit Monthly Balance

January 0.01 x 3 15usd x 20days 500usd (initial deposit + 300usd profit)

Feb 0.02 x 3 30usd x 20days 1100usd

March 0.03 x 3 45 usd x 20days 2000usd

April 0.04 x 3 60usd x 20days 3200usd

May 0.05 x 3 75usd x 20days 4,700usd

June 0.1 x 3 150usd x 20days 7,700usd

July 0.2 x 3 300usd x 20days 13,700usd

August 0.3 x 3 450usd x 20days 22,700usd

September 0.4 x 3 600usd x 20days 34,700usd

October 0.5 x 3 750usd x 20days 49,700usd

November 0.6 x 3 900usd x 20days 67,700usd

December 0.7 x 3 1050usd x 20days 88,700usd

Imagine turning a miserable 200usd into over 88,000usd in just one year. Think about doing this four three years and tell me how this will not affect your fortune.

Many seasoned trades will know that my analysis is a very conservative one knowing how much they can really make in forex daily with 1000usd balance, But lets just immagine for a second that we discipline oursekves to make sequential profits month after month.

So the summary is that we all should pray to BAba God to help us fight greed and understand that Forex is not a get rich quick business but a gradual way of buillding fortunes.

Stay blessed

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I am too matured to trade words with you. You are a scammer. Period.

I love to share information so that is why i post useful tit bits on profitable forex trading.

Please look elsewhere for victims. You wont find any on nairaland i assure you. Mr News trader that makes 100% in Forex trading monthly.

I rest my case and dont ever expect any reply from me concerning this issue.

Toks

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Hi Friend,

I was thinking about your personality after reading all you wrote about forex trading and as far as i can see, you are not a Forex trader and i stand to be challenged.

I also did a little bit of due diligence on your recent posts and i got this post of yours from Banking and Finance section captioned "You will be happy after reading this, "

Here is your post

"Investing is one of the most important aspect of life for future security. Enter the new year with our fund management plan.

** Invest N2million and above in your personal FOREX account (we recommend our preferred broker)

and have it managed for you by our group of proffessional traders with minimum of 60% return on

your account every month.

NB:

*We are not collecting any money from you.

*You alone has the full access to withdrawal of funds

*We collect 40% of the profit on capital monthly.

* We share both profit and loss.

You will like it after few months of reaping from the market

trustgirl4@gmail.com

SMS Only 080 55 000 990

Call 08032500542

My Question is "Who are you?. I suspect you are s scamer and i also stand challenged.

1. How can you promise such unrealistic returns and you claim to trade only news which are basically out of your control as fundamenral news are based on the state of the economy of a given country which is not predictable.

Please we dont need scammers on nairaland and i am not apologizing on this so you may spit hell if you want. I will not fold my arms and see anyone come here and rant nonsence claiming he is a forex trader.

Be warned. And i challenge you to post a page of your trading history so we can see how you can possibly make a minimum of 60% return for investors on a monthly basis trading only news or even technicals.

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Come on be matured, your out burst is unwarranted. I am only giving u an advice so take it or leave it.

If you are into fundamentals you will know too well that red flag news seldom come out and as of today, no major news release for all pairs which means you wont trade throughout today. So why are you getting hyper simply because i asked you to broaden your knowledge. As i post this right now, i am banking some pips trading with technical analysis and that is why i am advicing you so why are you taking it so immatured.

I called you a scalper and you flared but that is what you are and you confirmed it your self that you spend less than a minute trading. Haba

Please lets maintain proper decorum here.

Toks

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You don't know anything, Who tell you am scalping? You say if i trade news, why use SOFTWARE? That means u r still learning just tryin 2 prove urself in d room.

I trade d news spike and I even enter the market some 1second b4 d spike.

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My STRATEGY:

1). I spend less than 1minute anytime I trade with good profit

2). I use 3 tools which I will show you

3). I trade 100% Fundamentals (News Trading)

4). I don't xperience Re-quote, Slow trade execution (Please wait on MT4)

5). I HATE technicals analysis.

From your post i can see that you are a scalper using only fundamentals. Well the only draw back is that you will be making profits very scarcely as fundamental factors are hard to come by since very few news release affect currency pairs.

Try to broaden your knowledge by researching technicals using them for longer time frames,

But i sensed controversy in your post. If you tade news, why use softwares? Well my advice to you is to trade real forex fopr real profits.

Toks

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HELLO GUYS FOREX IS A BIG DEAL, IT PAYS WELL, BUT RISKY, BETTER FOR U TO HAVE EXPERTS CALCULATE THE PAIRS AND SEND U TRADE SIGNALS.

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Yes, there is money in Forex, but you have to learn the skill and strategy, the problem in Nigeria at a time was bc Naijans once viewed it as make rich quick scheme,where you screw every time and make cool dollars,

Doing it my own way, slow and steady, it has become so joyful, If I have any thing to bequeat to any 1, I will say forex, Teach a man how to fish, Heaven of wealth

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