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Forex Trading: How Profitable?

Its been a long time since I started hearing about FOREX trading in Nigeria and have even come in contact with countless numbers of traders most of who have nothing to show for it. What on earth could have been the cause/ the reason why most of these Forex traders don't have anything to show for all their numerous trading sessions even after investing so high on the Market and even collecting money from other people all in the name of this FOREX or is it that this FOREX of a thing not as profitable as it is acclaimed to be?

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45 answers

Hello house. Pls I need to know if the forex demo trading requires internet access.

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Hi Peeps,

I'm a forex expert and i guarantee 80 PERCENT of your capital investment monthly.i have space for few clients this month.For proof of track record i have trade statements you can see.i don't take any part of your profit,i make my profit by making over 80% of your investment monthly.You get your pay out monthly.You have full access to your account.After signing a disclosure i proceed to making money for you and for me.

Minimum one month try out investment is $200.I will make it $360 IN JUST ONE MONTH and then after the first month minimum investment becomes $1,000.If you are interested in more details contact me on mikedmoney@yahoo.com

Cheers!

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Do you want to trade forex and make consistent profits?

Then register for our Forex Training Class where you would learn and understand the basics and main strategies of forex trading that would allow you make regular profits monthly.

During the training, you would be taught by professional forex traders who would present their own successful trading strategies and share their Forex experiences.

The opportunity is also there for you getting acquainted with them and asking questions you are interested in.

You would also receive Life mentorship in us in order to get started properly

The training class is designed for both beginners and advanced forex traders.

For beginners, we always advise that you practise all you have been taught on a demo(practice) account trading for at least 3 weeks.

Some of the topics we would teach you include:

* Introduction to online forex trading

* The Forex Market (What, Why, Where, & When)

* What is Fundamental Analysis?

* What is Technical Analysis?

* The trading Platform: Metatrader 4

* Pips, Leverage, Margins, Lotsize, TP and SL

* Placement & exiting an order

* Types of order & indicators

* Japanese Candlesticks

* Support, Resistance & pivots

* Fibonacci Lines & Retracements

* Advanced Forex Trading strategies

* Basic Money Management

* Forex Expert Advisors

* Traders psychology

* Demo trading with MT4

Training Fee:

The price for the forex class is N12,000 only

Twelve Thousand Naira only.

Duration:

The duration for the training is:

Two (2) weeks full time

Four (4) weeks (Saturdays only)

Location

InstaForex Office, Lagos

Contact:

Interested students can contact us on:

08065167701

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[b]Make Money From Home Trading Forex: Top Tips For Forex Trading Success

[/b]You can make money trading forex. There is no reason why you should not. Many have told their success stories. You too will but you have to learn tips to be successful. Visit http://bsmartforextradingtipsnigeria.blogspot.com/ for forex trading tips. Let us know how helpful you find our tips by leaving your comments!

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I am a referral to some forex brokers who give me credit for referring traders to them. I need forex brokers to sign up with these brokers. We'll credit you with some dollars and you start trading immediately with them WITHOUT DEPOSITING ANY MONEY. You withdraw your money easily without hassle.You start trading with them the same day.

You are receiving $$$ bonus. I'll just charge you 1,500 naira for expenses on my part, like scanning, etc. After that, you are credited with funds to trade with.

If you are interested in signing up with them, please, call 07043268090 or email kconsult123@yahoo.com.

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Has anybody tries PAMM acount or ZULUTRADE account and has good result ?

kindly share the good news here, for nairalanders

God bless us all

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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

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Hey Guys and all the Day Traders in the house, I have enjoyed your posts.

Yes most of what you said is right. The business is very risky, also highly profitable.

You need education, plenty of it.

Here is an on-line resources that I have been using, which anyone (the pros and beginners)

will find very useful:

A Free Guide To Successful Forex Trading - click below to locate;

http://www.forextradingng.com

All the info there is free.

Hope this helps.

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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

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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

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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

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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

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Re: Forex Trading: How Profitable?

« #8 on: August 30, 2008, 10:53 PM » 

--------------------------------------------------------------------------------

Check out our account statement as attached

@ Royal Trading,

we are too busy to bore you with advertisement jingo. We are not forex marketers or suckers but forex traders who trade full time for a living & 4real

find attached our trading statement, third party login coming soon where any one can log into our account on alpari platform to view our performance real time.

Ayegba Emmanuel O

Lead Trader

Royal Trading

08053541343

Head office,

Green Insight Inc.

L4, Ahmadu Bello Way

Kaduna

Efico,

Please,can you send me your third party vieweing password.I need it to make my final decision concerning your post above.

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Personal Message: From the Desk of Joel, ORIABURE.

1STOP FX Solutions, Director.

Dear Aspiring FOREX traders/investors,

Do you know you can earn up to 50% or more monthly without you trading FOREX yourself?

Imagine you just waking up on the 31st of every month, with your money waiting for you in your Bank Account without you doing any work at all.

This is Exactly what will happen to you shortly with this Amazing and proven system of making money through your FOREX Account without you touching your computer or trading or opening your FOREX account at all.

Yes. You rake in profits every month. Without having to do any work yourself, this is simply perfect. I have not seen a system as simple as this in my entire life.

- Have you traded and lost so much money?

- Do you have problems with trading at all?

- Is it that you do not have time to trade yourself?

- Are you afraid of losing money yourself?

Then this is definitely for you. Yes, it is for you. We will do all the work required to make you money in the FOREX market, and all you have to do is to sit back and relax and cash your profit at the end of the month.

One good thing about this is that you have complete control over your account all the time. Come with me as I show you how to cash in on this amazing opportunity.

FOREX Managed Account

A managed FOREX account can give an investor who cannot watch the market 24 hours a day an opportunity to participate in the colossal world of FOREX trading (US$1,000 minimum). A managed FOREX account may also be appropriate for the investor who prefers to have his capital managed by professionals. Studies of professionally managed FOREX accounts have shown returns that are not related to the performance of the stock market. Consequently, allocating a portion of an investment portfolio to a FOREX managed account may be an appropriate way to increase the portfolio's total diversification.

Who are we?

We are professional FOREX traders with vast experience in trading currencies. We are not affiliated to any FOREX broker. We are a privately managed home-based money managers and we are trying to help people realize their financial needs by profiting from the FOREX market.

How does it work?

Its very simple…. we simply execute trades for you on your online FOREX account with our introducing broker http://www.fxpro.com or broker of your choice. With our top secret trading methods, we guarantee a 50% or more profits on your initial capital monthly!

Please Note:

1.We do not accept money from individuals or companies. You must open a FOREX account personally and you will be in total control of the funds and profits.

2.Though we guarantee 50% or more profit monthly, we do not hold any liability in exceptionally cases of loses as FOREX involves considerable risk.

3.We profit from your profits only! You do not need to pay us from your pocket.

Who can we trade for?

Anybody who has a live FOREX account .You can open a live FOREX account with our introducing broker http://www.fxpro.com or broker of your choice. Due to the amount of accounts we manage, we are limiting our services to clients who have an initial capital of $1,000USD minimum and only 10 clients in a month.

What do we gain from helping you?

30% of the profit made every week excluding initial capital. We will trade your account for you and guarantee a 50% or more profit monthly. You will withdraw funds every two-week from your FOREX account and send us our commission before the end of the following week.

Detailed explanation…

You are expected to open live FOREX trading account with our introducing broker http://www.fxpro.com or broker of your choice. You will fund the account with $1,000USD and above. (Brokers do not accept third party deposits or withdrawal. This gives you absolute control and security over your money.) Withdrawals can only be made to the bank account that the deposit came from.

We will execute trades on your FOREX account (Not bank account) and make profit. You will then have to withdraw 30% of the profit and send to us as our commission. You can also withdraw money for yourself anytime you want but with a 3 day written notice sent to us. We will continue to trade for you as long as you remit our commission accordingly.

What you stand to gain?

Week 1…. $1,000 (initial capital) = makes profit of $700. Minus 30% comm. ($210). You have a total of $1,490.00

Contact: onestopfxsolutions@yahoo.com or call (+234) 08078289975

For live chat: Please add daoris_joel@yahoo.com to your yahoo messenger.

Benefits

Transparency.

1. You still have your account with you

2. 100% safety on your account.

3. 24-hours access to check our transactions

4. SMS/E-mail notifications to carry you along.

5. And lots more.

Other Benefits

1. You are allowed to open your domiciliary account by yourself.

2. You register with the platform you like and only give us your Trading platform login details. i.e. we don't need your Domiciliary Account/FOREX account apart from login details.

3. You can monitor your investment

Contact: onestopfxsolutions@yahoo.com or call (+234) 08078289975

For live chat: Please add daoris_joel@yahoo.com to your yahoo messenger.

"We also help intending investors to open an account with our introducing broker platform(s)."

If you want us to help you manage your FOREX portfolio. Contact us to get our application package.

Our application package includes:

1. Risk Disclosure Statement.

2. Trading Philosophy.

3. Application Form.

4. Agreement Form.

Joel, ORIABURE.

1STOP FX Solutions.

(FOREX Fund Manager).

onestopfxsolutions@yahoo.com

(+234) 08078289975

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1.If you are interested in becoming a forex trader,then add me to you yahoo messenger and we will take it from there. yahoo messenger id: stockitiva

2.If you are not interested in trading, then a Managed Forex Account Can Help You. , read more, www.stcokitiva3.blogspot.com

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Hi.,

Forex is technical. Learn the basics for successful trading

experience.

Thanks

gooodness2

www.profitableforextradingtips.blogspot.com[size=8pt][/size][b][/b]

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I MUST CONFESS FOREX IS REAL; U MUST HAVE THE PASSION TO MAKE IT AND PLS DEMO TRADE WELL ALSO MAKE SURE U GO 4 TRAINING 4RM A GOOD FOREX TRADER I ASSURE U U WILL CONFIRM

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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

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For starters you can learn the basic from www.babypips.com

www.moneysaversforum.com

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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

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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

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Newbie

From the way many of these newbies talk, i just laff, Forex is more of an art(point of correction)

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Guys, am interested in this forex stuff. will appreciate it if anyone is ready to help me out.

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sorry guyz i just wanna hit wit guyz in oau i just to get useful infomation that love u guyz

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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 don't want to have your hands burnt.

You don't 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

Whats up bro,

Thanks a million for your kind reply, it really did help me. but i still need to get a good broker using m4 trading platform, like i said b4 one tested and trusted.

THANKS

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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

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Hi guy i need someone to give me link to some forex brokers that uses meta4 trading platform, pls 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

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toks2008 your insight showed you actually into forex. But what you didnt mention is that the platform on which anyone trades largely determine that person's fustration or success. No body is asking how brokers or platform providers make their profit. Before you trade make sure you do alot of home work to ensure that the platform on which you are trading isnt a trap. while demo trading, use two or three platforms and observe price rise and price fall. Sometime when you set ur stop loss and take profit, you dont have to wait for your profit or loss to get to what you have set. Say for instance you set your profit and you see it rising from +$50 to +$150 it remains stagnant for a while drizzles down to +40 and rises again, I for one would close it, if it goes up again to +150 without waiting for it to get to the take profit i initially set. Thats instinct trading. Now the question is how immediate are u able to close when u click the close deal. Some platform delibrately delay it in order that market volatility can affect ur profit. Others over extend the spread between the buy and sell, the spread margin is a major trap that most trader dont consider. I bet you alot of professional still trade on platforms that are not credible. There is a site where people state their experiences i will search for it and post it here you will all be suprise especially those already trading who think they are trading with a sincere trading platform. my platform ok and its tax free so far, i m still observing, if i catch them delaying my trading i will withdraw from the platform no excuse. Some people in Nigeria think oh!, its internet connect that caused it, No way! its the broker from ur trading platform they deliberatly slow ur request to buy or sell.

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@Toks2008 . Can u please give me ur e-mail & No. we need to talk.

my e-mail is :Chicornelrip@yahoo.com but i sent u a mail to the other e-mail in the post.

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it seem there are a lot of traders in da house. i neva knew, i just like every bit of wat i have read from these posts

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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 silly)

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

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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

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Now u understand what im trying to say. That emotion part is the hardest part of learning. You will agree with me thet you cannot cure that sickness in 3monts. its just like a drunkard, or a womanizer. it takes time

its good we are now agreeing to a lot of things. i love to spread the truth about forex traing and i love forex. Happy trading

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hey toks pls i need this one on one training from you is it possible? pls help me i ve sent u mail on this too pls i need to learn this now thanks a lot

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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

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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

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Check out our account statement as attached

@ Royal Trading,

we are too busy to bore you with advertisement jingo. We are not forex marketers or suckers but forex traders who trade full time for a living & 4real

find attached our trading statement, third party login coming soon where any one can log into our account on alpari platform to view our performance real time.

Ayegba Emmanuel O

Lead Trader

Royal Trading

08053541343

Head office,

Green Insight Inc.

L4, Ahmadu Bello Way

Kaduna

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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

Make great income online.

http://www.diamondfield.info

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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

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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.

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

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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 ur demo acount, u are not practising any moneymanagement.

U set a take profit without setting a stoploss.

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

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Dont mind all this forex trades oh, im also a froex trader myself. Big boys in dis game dont 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 ur 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 dis returns, many businesses can make dis retuirns.

So u must have a passion for forex, also b prepared to loose up to 5000dollars ore more b4 u start making it in forex.

yes oh dats d truth. Im tired of typing , if u want to hear more ephisi@yahoo.com.

i will only be telling you what dis 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

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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 show you

1.the exact strategy i am using to make a consistent average sum of 400usd daily in my demo account(Forget the word demo account because i will make same in a real live account without emotions since i have developed the trading habit over two months), i will teach you in a very informal manner how you can make consistent profits from the forex market.

2. I will introduce you to good trading software that will act as a guide for you to know when to enter and exit a trade.

3. i will introduce you to referral program that will allow you earn good money to start your journey to forex trading and you will be able to generate money to buy your computer, get internet connection and also have steady flow of cash to trade forex with as this will eliminate fear of losing money knowing that you can always earn more more from these referral program.

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

Thanks

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Forex trading is real, i must tell you.The problem is not in trading it self, though it is highly technical, but in the self proclaimed forex guru's.

All you need is the right form of training, and the necessary resources.You actually get better with each trading day.This is just the fact that most of the traders are ignorant of, thereby causing themselves serious financial harm.

www.whyaffiliates.com

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