Am thinking of going into forex trading please advice me.

do a lot of research first if not your money will just burn like fire.

Yeah.It`s a nice idea because forex is one of the good online
businesses that can make one rich.unfortunately, it`s not
everybody that can succeed in the business.Infact,statistics
has shown that it`s only about 5% of forex traders that
remain consistently profitable afterall while the remaining 95% lose
their initial investment within a short time period!
Sorry bro,I am not trying to scare you away,am only trying to let you
know the true nature of the business.
if you are really serious about going into forex trading,please take your
time to acquire adequate trading skills by gathering knowledge and right
trainings;never be in haste to start invest your real money in a live acct,
the first thing is right knowledge about the business.
Then,practise for as long as you can with a virtual money or small dollar
that you can afford to lose,in order to test your acquired skills.
Lastly,I would like you to ask yourself the following questions:

1)do i like taking risk or am a risk averter?
---forex is an high-risk investment

2)can i wisthand losing real money?
---some losses are part of the trading business

3)can i control my greed?
---everyone has some level of greed in his/her blood
when it comes tobusiness and money

But,my brother you can eventually become part of the 5% that are making
good money consistently from the largest financial market called forex market.

I wish to see you there

yes, forex trading is good. but you have to go through the learninng processs, and also control your emotions coupled with time input. but if you cant, there are a good number of professional traders that can trade for you or whose trades you can copy.

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or copy trade


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afolag:
Am thinking of going into forex trading please advice me.

then you must be willing to learn the in and out of it before you start.don't rush it.make sure you learn it to the core before you start even if it takes you years to learn, learn and see how it goes after that

the answe to your question is research.learn how its done before going live else you would have yourself to be blamed

afolag:
Am thinking of going into forex trading please advice me.

afolag:
Am thinking of going into forex trading please advice me.

1) Read a lot of books. I mean alot of books. Start with the tutorial at www.babypips.com then read Technical Analysis for Financial Markets by John Murphy.

2) Download the trading tool/software you'd be trading with at www.xm.com. Mind you, XM is a broker and there are a million other brokers but XM has been reliable. Brokers route your money to the market and they provide a platform/graph that displays how your money moves. Learn how to use this tool very well. It's called MetaTrader 4 (MT4). Register with XM and you're good to go.

3) Demo trade before you start trading with your money. Demo trading means trading with a virtual money in a real scenario. The money is not real but the market movement is the real market you'd be trading with when you start trading with your money.

4)Develop a tradinģ strategy. After demo trading for a while you should develop a strategy that has been quite reliable to make profit. For instance, you should have a certain level of confidence while trading atleast one currency pair. Simply because, you have traded the pair so well that you can say where a major resistance/support lies.(Dont worry about what support/resistance mean; you'd soon understand ) This would give you a glimpse of an impending breakout. Please develop a strategy.

5) You will lose some money so its important to solidify your emotions. Never ever get too emotional about money. The best way to prevent this is to NOT invest more than you can afford to lose. Invest very little and let it grow. Don't invest your gratuity or your wage because deep within your emotional scripting, you'd be reminded every time you wanna trade that its your gratuity/salary you're trading with. When emotion decides your trade decision, you're on the road to a margin call. Let the rationality of price in your strategy determine your trade decision - always!


Frawzey

this was very helpful information

afolag:
Am thinking of going into forex trading please advice me.

I will advice you t visit www.forexcake.com and you are good to go.

ayox2003:




1) Read a lot of books. I mean alot of books. Start with the tutorial at www.babypips.com then read Technical Analysis for Financial Markets by John Murphy.

2) Download the trading tool/software you'd be trading with at www.xm.com. Mind you, XM is a broker and there are a million other brokers but XM has been reliable. Brokers route your money to the market and they provide a platform/graph that displays how your money moves. Learn how to use this tool very well. It's called MetaTrader 4 (MT4). Register with XM and you're good to go.

3) Demo trade before you start trading with your money. Demo trading means trading with a virtual money in a real scenario. The money is not real but the market movement is the real market you'd be trading with when you start trading with your money.

4)Develop a tradinģ strategy. After demo trading for a while you should develop a strategy that has been quite reliable to make profit. For instance, you should have a certain level of confidence while trading atleast one currency pair. Simply because, you have traded the pair so well that you can say where a major resistance/support lies.(Dont worry about what support/resistance mean; you'd soon understand ) This would give you a glimpse of an impending breakout. Please develop a strategy.

5) You will lose some money so its important to solidify your emotions. Never ever get too emotional about money. The best way to prevent this is to NOT invest more than you can afford to lose. Invest very little and let it grow. Don't invest your gratuity or your wage because deep within your emotional scripting, you'd be reminded every time you wanna trade that its your gratuity/salary you're trading with. When emotion decides your trade decision, you're on the road to a margin call. Let the rationality of price in your strategy determine your trade decision - always!


Frawzey

Nice!!!!!!!
I will advocate for this post 24/7 @frwazey would you like to be a guest blogger on naijaforexpips.com ?? Just visit the website and contact me. JAh bless

@OP you can join my network. Everybody interested in forex trading, visit naijaforexpips.com

Masive01:




Nice!!!!!!!
I will advocate for this post 24/7 @frwazey would you like to be a guest blogger on naijaforexpips.com ?? Just visit the website and contact me. JAh bless

@OP you can join my network. Everybody interested in forex trading, visit naijaforexpips.com

Ofcourse. Would be once in a while, though.

Contact me at frawzey@gmail.com


Frawzey

ayox2003:




1) Read a lot of books. I mean alot of books. Start with the tutorial at www.babypips.com then read Technical Analysis for Financial Markets by John Murphy.

2) Download the trading tool/software you'd be trading with at www.xm.com. Mind you, XM is a broker and there are a million other brokers but XM has been reliable. Brokers route your money to the market and they provide a platform/graph that displays how your money moves. Learn how to use this tool very well. It's called MetaTrader 4 (MT4). Register with XM and you're good to go.

3) Demo trade before you start trading with your money. Demo trading means trading with a virtual money in a real scenario. The money is not real but the market movement is the real market you'd be trading with when you start trading with your money.

4)Develop a tradinģ strategy. After demo trading for a while you should develop a strategy that has been quite reliable to make profit. For instance, you should have a certain level of confidence while trading atleast one currency pair. Simply because, you have traded the pair so well that you can say where a major resistance/support lies.(Dont worry about what support/resistance mean; you'd soon understand ) This would give you a glimpse of an impending breakout. Please develop a strategy.

5) You will lose some money so its important to solidify your emotions. Never ever get too emotional about money. The best way to prevent this is to NOT invest more than you can afford to lose. Invest very little and let it grow. Don't invest your gratuity or your wage because deep within your emotional scripting, you'd be reminded every time you wanna trade that its your gratuity/salary you're trading with. When emotion decides your trade decision, you're on the road to a margin call. Let the rationality of price in your strategy determine your trade decision - always!


Frawzey

whot do u mean by margin call?

stardragon:

whot do u mean by margin call?

Basically, margin call is when you lose all your equity/investment in a trade.


Frawzey

ayox2003:


Basically, margin call is when you lose all your equity/investment in a trade.


Frawzey

ok.
When u loses all ur money from A-z!

stardragon:

ok.
When u loses all ur money from A-z!

Exactly!


Frawzey