Feshizzy:

Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

Was their any physical thing someone was buying and someone selling ? The concept of Forex is very different from the traditional market buying and selling. If A bought at #10 and B is buying at #15,it doesn't mean A is selling for #15. This is price speculation. You can only buy and exiit your trade or sell and exit your trade,that's why its a two edged market. This is also the reason why you can come to the market today and choose to be a seller first. You are selling what you have not bought right? That you are exiting your trade doesn't mean you are selling . If A bought at #10 and sold again at #15,then it is 2 transactions each standing on their own.
You said when Mr A was buying someone was selling, you are wrong sir. We can all choose to be buying and that's when a currency price starts shooting up and its over-priced. This is what happened some years back that made GOLD to be overpriced cos many believe GOLD should always increase in value and they made it a safe-haven until the crash.

Anyway,I don't know if am talking to a real trader here cos you don't seem to understand Forex, so that I won't be talking amidst.

You can buy and at the same time sell,it doesn't mean that your sell trade has cancelled your buy trade,instead you are having 2 opened trades. This is not garri market where you buy and sell what you bought. In forex, you buy and exit or you sell and exit. Not buy and later sell like the traditional market. I seal my lips and crossed my fingers till you call me back to do otherwise with your comment.

abbeyforex:


I am not here to argue ,I have said what I know about the market , 9 years is no joke. But before I seal my lip for your noise to be louder, does the profit made by Mr. A from the loss of Mr. C or D. That Mr C or D entered the market at the wrong time towards the wrong side doesn't mean their loss is what Mr. A made as profit. Lips Sealed and Fingers Crossed, I am a silent follower.

Being silent or not.
9 years would be child's play if you keep deceiving yourself.
Do you know the reason why price went from N5 to N15? Nah, I don't think so, you thought it's computer manipulating price. I'm sorry but how you began your trading career matters even more. Your totally ignored the cause and effect theory.
Price moving is actually traders taken decision.
A clearer definition is what happened yesterday here in USDCAD, while some sold, some bought. At the end of the day, what do you think will happen at the end?
Like I said get your facts straight, Mr A and B concept is very persuasive but it's bullsh*t.

Feshizzy:

Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

Was their any physical thing someone was buying and someone selling ? The concept of Forex is very different from the traditional market buying and selling. If A bought at #10 and B is buying at #15,it doesn't mean A is selling for #15. This is price speculation. You can only buy and exiit your trade or sell and exit your trade,that's why its a two edged market. That you are exiting your trade doesn't mean you are selling . If A bought at #10 and sold again at #15,then it is 2 transactions each standing on their own.
You said when Mr A was buying someone was selling, you are wrong sir. We can all choose to be buying and that's when a currency price starts shooting up and its over-priced. This is what happened some years back that made GOLD to be overpriced cos many believe GOLD should always increase in value and they made it a safe-haven until the crash.

Anyway,I don't know if am talking to a real trader here cos you don't seem to understand Forex, so that I won't be talking amidst.

You can buy and at the same time sell,it doesn't mean that your sell trade has cancelled your buy trade,instead you are having 2 opened trades. This is not garri market where you buy and sell what you bought. In forex, you buy and exit or you sell and exit. Not buy and later sell like the traditional market. I seal my lips and crossed my fingers till you call me back to do otherwise with your comment.

Feshizzy:

Get your fact straight, he is right, it's a zero sum game. If Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5. What's your definition of the market then?
Mind you when Mr A and B was buying it means someone was selling.

Regards,
EF

Was their any physical thing someone was buying and someone selling ? The concept of Forex is very different from the traditional market buying and selling. If A bought at #10 and B is buying at #15,it doesn't mean A is selling for #15. This is price speculation. You can only buy and exiit your trade or sell and exit your trade,that's why its a two edged market. This is also the reason why you can come to the market today and choose to be a seller first. You are selling what you have not bought right? That you are exiting your trade doesn't mean you are selling . If A bought at #10 and sold again at #15,then it is 2 transactions each standing on their own.
You said when Mr A was buying someone was selling, you are wrong sir. We can all choose to be buying and that's when a currency price starts shooting up and its over-priced. This is what happened some years back that made GOLD to be overpriced cos many believe GOLD should always increase in value and they made it a safe-haven until the crash.

Anyway,I don't know if am talking to a real trader here cos you don't seem to understand Forex, so that I won't be talking amidst.

You can buy and at the same time sell,it doesn't mean that your sell trade has cancelled your buy trade,instead you are having 2 opened trades. This is not garri market where you buy and sell what you bought. In forex, you buy and exit or you sell and exit. Not buy and later sell like the traditional market. I seal my lips and crossed my fingers till you call me back to do otherwise with your comment.

abbeyforex:


Was their any physical thing someone was buying and someone selling ? The concept of Forex is very different from the traditional market buying and selling. If A bought at #10 and B is buying at #15,it doesn't mean A is selling for #15. This is price speculation. You can only buy and exiit your trade or sell and exit your trade,that's why its a two edged market. That you are exiting your trade doesn't mean you are selling . If A bought at #10 and sold again at #15,then it is 2 transactions each standing on their own.

You can buy and at the same time sell,it doesn't mean that your sell trade has cancelled your buy trade,instead you are having 2 opened trades. This is not garri market where you buy and sell what you bought. In forex, you buy and exit or you sell and exit. Not buy and later sell like the traditional market. I seal my lips and crossed my fingers till you call me back to do otherwise with your comment.

For someone with your claimed experiences surprises me greatly,
You have the entire concept of forex very wrongly, i mean VERY WRONGLY.
Firstly, if you don't buy to later sell and sell to later,then why on earth was it could foreign exchange the first place?
Please house what is the point exchanging then?

Its really unfortunate that Ogboraph is giving Seun a better reason to shut down this thread! Its gonna be painful for newbies o!

Though am old in this business having started since 2009 yet we just have to watch each others back over some false unrealistic business transactions in this FTA

Seun:
Forex is a zero sum game, which means that for someone to win, someone else must lose. Even if every "investor" is disciplined and "smart" and following the "best strategies", some people must lose money in order for others to win. Every win is at the expense of someone's loses. And that is before you consider the fees. When you consider the fees, it becomes clear that retail forex is a very dumb business to be in.

Real business is superior in many ways:
1) In real business, whether you succeed or fail, you're providing a useful service to society. In retail FOREX speculation, you're not.
2) If all people who go into a legitimate business are smart, it is possible for all of them to be successful. In FOREX, many people must lose.
3) In FOREX, the winners are the brokers or lucky. In business, the winners are usually those who provide the best value to society.

I feel bad about disrupting the forex communities on Nairaland, but we'll be better off when real business topics start dominating this section.

Good Evening Sensei Seun,

This is a rare privilege expressing my opinion to a true shinobi I admire... your website has continuously helped me and so many other nigerian youths in their different endeavours.

In my personal Opinion 'LIFE' is a ZERO sum game...Did someone just say BLASPHMYYYYY, STONE HIM....Wholluuuuuuup whollluuuuuuup wholllluuuuuup lemme explain:

If 100 people are in the same business of selling phones, we all know that all of them cannot be successful. Few would be very rich, some would be in the 'we are managing class' and majority would be scavenging for scraps to survive....WHY?...

That is because they are all hustling for the same consumers. Does that make the most successful business men in the phone business evil?....NO, but you would agree with me that the successful business men have succeeded in swallowing the majority of the market with whatever marketing strategy they have, hence leaving the microscopic few (honourable Obayagbon's grammar ) to his competitors ... To me that is a zero sum game.

In another analogy, a guy dates a lady for 4 years and just when she is expecting her guy to POP UP the question every lady would die to hear .....,for whatever reason JOHNNY runs away with another lady to the alter ...To me, that's a zero sum game. Biblically, Moses had to be dropped as a leader for Joshua to pick up the mantle (another zero sum game there)

In my opinion, any legit business, and that includes betting, should have a fair share to advertise on your platform. Instead you should ban the bad elements who spoil the name of the businesses. As much as we sometimes tend to condemn some businesses due to our culture/religion/beliefs, it is only fair to be flexible in our judgement as one man's food is another man's poison.

Who know boss (Sensei Seun), someday when you are grey and old, a funds manager(forex trader) would manage your billions, and all you would be doing is globe trotting .

I would appreciate if you face the issue at hand (the people giving the business a bad name) than throwing the business in its entirety in 'the mud' (Ban)

Cheers

abbeyforex:


Was their any physical thing someone was buying and someone selling ? The concept of Forex is very different from the traditional market buying and selling. If A bought at #10 and B is buying at #15,it doesn't mean A is selling for #15. This is price speculation. You can only buy and exiit your trade or sell and exit your trade,that's why its a two edged market. This is also the reason why you can come to the market today and choose to be a seller first. You are selling what you have not bought right? That you are exiting your trade doesn't mean you are selling . If A bought at #10 and sold again at #15,then it is 2 transactions each standing on their own.
You said when Mr A was buying someone was selling, you are wrong sir. We can all choose to be buying and that's when a currency price starts shooting up and its over-priced. This is what happened some years back that made GOLD to be overpriced cos many believe GOLD should always increase in value and they made it a safe-haven until the crash.

Anyway,I don't know if am talking to a real trader here cos you don't seem to understand Forex, so that I won't be talking amidst.

You can buy and at the same time sell,it doesn't mean that your sell trade has cancelled your buy trade,instead you are having 2 opened trades. This is not garri market where you buy and sell what you bought. In forex, you buy and exit or you sell and exit. Not buy and later sell like the traditional market. I seal my lips and crossed my fingers till you call me back to do otherwise with your comment.

You contradict yourself greatly,
You need to go back to forex 101 and I also advice you go to babypips and gain enlightenment and while you are at it, remove forex from your name.
What are the causes of pullbacks and retest?
Well those are trader taking opposite trades and position being closed.
Just because you add forex to your name don't make you a trader either.

Amateurs fighting over rubbish

currentprice:


in other markets like Nigeria stock exchange where there is no short selling if Mr C bought at N15 and price drops to N10 and Mr D bought at N10 and price drops to N5.

you said when Mr A and B was buying it means someone was selling,,,,, abeg who is selling here

_{^{until your tell me who day sell here, i will agree with the man above me}}

^{many traders bought OANDO at 300 naira, continuing buying as price fall oando is now 4 naira. abeg who dey sell,,,,, and SEUN should tell me different between forex trading and his favorite stock trading},,

,

Sir, u just give me clue. Hahaha.
http://www.investopedia.com/articles/stocks/10/when-to-sell-stocks.asp

jorel1:
Amateurs fighting over rubbish

Bravo @ Jorel1, u said it all. Lakuuli ! Laugh wan comot my teeth Oo°˚˚˚° . Lips sealed! Fingers crossed. O shey.

abbeyforex:


Bravo @ Jorel1, u said it all. Lakuuli ! Laugh wan comot my teeth Oo°˚˚˚° . Lips sealed! Fingers crossed. O shey.

Abbeyforex ko, abi forex ni.
Sealed lips but you are still talking,
Fingers crossed but still typing.
While Mr AB dey buy Mr CD dey sell.
And you say it's not zero sum, meaning everybody wins.
Is that what you tell your investors?

Feshizzy:

Abbeyforex ko, abi forex ni.
Sealed lips but you are still talking,
Fingers crossed but still typing.
While Mr AB dey buy Mr CD dey sell.
And you say it's not zero sum, meaning everybody wins.
Is that what you tell your investors?

I guess this hommie is a frustrated trader that just blew his account and that's why he is transferring the aggression to me. Laakuuli , rolling on the floor laughing. This laugh wan make me shit for body Oo°˚˚˚° .

Feshizzy:

You contradict yourself greatly,
You need to go back to forex 101 and I also advice you go to babypips and gain enlightenment and while you are at it, remove forex from your name.
What are the causes of pullbacks and retest?
Well those are trader taking opposite trades and position being closed.
Just because you add forex to your name don't make you a trader either.

Little should I wonder, Alabajo. Strictly babypips trader ,no real market knowledge.

jorel1:
Amateurs fighting over rubbish

Lol. I laugh in my dialect

Seun's plan to ban this thread is not fair and all I see is just judgement clouded with emotions . its obvious that he has zero /interest in forex.

I have learnt a lot on Nairaland and from people on this thread unknowingly to them. This is a platform that has brought a lot people, both far and near together to share ideas to achieve a common goal(make profit in forex) through market analysis, constructive criticisms/argument etc

Banning forex threads isnt the solution and it will never be. It could do more harm to you than good. Instead kindly channel your energy into banning threads that promotes the sales of fake robots, turning 10dols to 1000dols in 10days and the likes. Those are the bad eggs/heads.

When you force honorable people making legit money from a legit biz out of your "house"
They will march out like soldiers with their heads high and find a better house. And if there's none, they will create one.

And to the elders bothering yourself on Mr Ogbo's issue. In a simple word. SCaM. Its witnessed in all spheres of lives. Ignore him please. He's somewhere laughing his a** out at your comments. Every one should open their eyes. And maybe we should put a warning at the first page against any form of financial transaction and the mods shld ban anybody who disobeys.

abbeyforex:


I guess this hommie is a frustrated trader that just blew his account and that's why he is transferring the aggression to me. Laakuuli , rolling on the floor laughing. This laugh wan make me shit for body Oo°˚˚˚° .

No no no my friend.
False accusation/misconception is device used by con-artist.
I'm battering you for misleading the public and yet you are still doing it.
I know I it the nail on the head.
But no hard feelings just get your acts straight .
Not everyone here is that gullible.

Regards,
EF

Feshizzy:

Abbeyforex ko, abi forex ni.
Sealed lips but you are still talking,
Fingers crossed but still typing.
While Mr AB dey buy Mr CD dey sell.
And you say it's not zero sum, meaning everybody wins.
Is that what you tell your investors?

This should be one of those that attended Forex class on a weekend . 10am-5pm on Saturday .

Little should I wonder, Alabajo. Strictly babypips trader ,no real market knowledge. [/quote]

abbeyforex:


This should be one of those that attended Forex class on a weekend . 10am-5pm on Saturday .

Atleast you acknowledge the fact that I'm knowledgeable and you are wrong.

Feshizzy:
Little should I wonder, Alabajo. Strictly babypips trader ,no real market knowledge.

This should be one of those that attended Forex class on a weekend . 10am-5pm on Saturday .
Atleast you acknowledge the fact that I'm knowledgeable and you are wrong.

What an elder sees while sitting down can never be seen by a kid climbing the highest of the mountain. Meeting people like you makes FOREX Journey a very interesting one but please answer currentprice question above.

abbeyforex:




What an elder sees while sitting down can never be seen by a kid climbing the highest of the mountain. Meeting people like you makes FOREX Journey a very interesting one but please answer currentprice question above.

The elder is suffering from longsightedness,
The kid climbed the tree because he was knowledgeable enough.
I already replied currentprice and mind you I don't trade stocks.
If you brought an issue on stock I probably won't argue with you, because this I no stock trading thread.
Guess what i called mr a and mr b, they didn't close their trade now price is at N2.
Currentprice was indirectly asking you the question.
Try and mislead you way out of it again,
Cheers.

Lolx Bleep... See as Mr Obo jus give everyone work for dis weekend

@seun...the richest young boy in south africa is a forex trader and he is helping his community more than you are
warren buffet was and still into this stuff...hmmm i think he could afford to buy this site,feed everyone from your community oooh so sorry your state i meant.
microsoft is quoted and also traded...shouldn't say anything here.
apple is quoted and traded...shouldn't say anything too
and i guess you don't know this guy: Stanley Druckenmiller or was it george soros.
i am not here to argue if forex is legitimate or not because i don't even think the governor of your state is real,ask him very well HE IS A SCAM TOO.
are some of your past president not scam ? wait are you not scam self...putting mtn free cheat codes on front page,I NEED TO TAKE YOU TO COURT FOR THAT OR IS THAT THE ESSENCE OF YOUR SITE OOOOK I FORGET YOU NEED TO GET TRAFFIC TO YOUR SITE WITH THOSE FREE STUFF. kettle tell pot not to enter fire again that it will turn black.
AM IN A HAPPY MOOD,PLEASE DON'T SPOIL IT OR I DIRECT IT TO YOU. BAN FOREX,AM WAITING FOR THAT DAY.

less i forget something,if i don't drop analysis tomorrow. just know the nucca press the delete button on my account. that's what a typical and professional scammer will do,he might not sha. lets see.

currentprice:

_{^{if he like make he ban me for life for posting link}}

Currentprice yaf vex finally

shalom123:
@seun...the richest young boy in south africa is a forex trader and he is helping his community more than you are
warren buffet was and still into this stuff...hmmm i think he could afford to buy this site,feed everyone from your community oooh so sorry your state i meant.
microsoft is quoted and also traded...shouldn't say anything here.
apple is quoted and traded...shouldn't say anything too
and i guess you don't know this guy: Stanley Druckenmiller or was it george soros.
i am not here to argue if forex is legitimate or not because i don't even think the governor of your state is real,ask him very well HE IS A SCAM TOO.
are some of your past president not scam ? wait are you not scam self...putting mtn free cheat codes on front page,I NEED TO TAKE YOU TO COURT FOR THAT OR IS THAT THE ESSENCE OF YOUR SITE OOOOK I FORGET YOU NEED TO GET TRAFFIC TO YOUR SITE WITH THOSE FREE STUFF. kettle tell pot not to enter fire again that it will turn black.
AM IN A HAPPY MOOD,PLEASE DON'T SPOIL IT OR I DIRECT IT TO YOU. BAN FOREX,AM WAITING FOR THAT DAY.

Guy I need and appreciate your input on this forum... Please try not to get banned.

currentprice:

_{^{if he like make he ban me for life for posting link}}

he wanted to close forex related thread because people making loss,,,,,, but he is not closing stock related thread where people bought oando at #300 currentprice now #4.5,,, where people bought first bank at #33 currentprice now #3.4 where people bought dangote sugar at #30 currentprice now at #6 and so on. the market where many people committed suicide after losing their life saving

Oga abeg oh... No let dem ban you oh!

Forex, zero sum game? chai see ignorance ...it is not only retail traders that influence the market o, what would you say about the average joe who buys/sells foreign currencies in order expedite transactions such as airflight ticket fare, import, dosmestic expenses or various countries that engage in export and import of commodities such as platinum, crude oil, rice, cocoa, platinum and gold? not to forget the activities of institutional traders and central banks of various countries? somebody will lose a huge amount of money they cant afford to lose trading forex due to limited knowledge, and be calling it scam.
nawa

FxDuke:
Forex, zero sum game? chai see ignorance ...it is not only retail traders that influence the market o, what would you say about the average joe who buys/sells foreign currencies in order expedite transactions such as airflight ticket fare, import, dosmestic expenses or various countries that engage in export and import of commodities such as platinum, crude oil, rice, cocoa, platinum and gold? not to forget the activities of institutional traders and central banks of various countries? somebody will lose a huge amount of money they cant afford to lose trading forex due to limited knowledge, and be calling it scam.

Boss! This zero sum or non zero sum argument had made me to research alittle about it and come to a conclusion that the phrase is been misconstrued to fit in/ buttress whatever view one may one to hold. According to Wikipedia,
...Many economic situations are not zero-sum, since valuable goods and services can be created, destroyed, or badly allocated in a number of ways, and any of these will create a net gain or loss of utility to numerous stakeholders. Specifically, all trade is by definition positive sum, because when two parties agree to an exchange each party must consider the goods it is receiving to be more valuable than the goods it is delivering. In fact, all economic exchanges must benefit both parties to the point that each party can overcome its transaction costs, or the transaction would simply not take place.

There is some semantic confusion in addressing exchanges under coercion. If we assume that "Trade X", in which Adam trades Good A to Brian for Good B, does not benefit Adam sufficiently, Adam will ignore Trade X (and trade his Good A for something else in a different positive-sum transaction, or keep it). However, if Brian uses force to ensure that Adam will exchange Good A for Good B, then this says nothing about the original Trade X. Trade X was not, and still is not, positive-sum (in fact, this non-occurring transaction may be zero-sum, if Brian's net gain of utility coincidentally offsets Adam's net loss of utility). What has in fact happened is that a new trade has been proposed, "Trade Y", where Adam exchanges Good A for two things: Good B and escaping the punishment imposed by Brian for refusing the trade. Trade Y is positive-sum, because if Adam wanted to refuse the trade, he theoretically has that option (although it is likely now a much worse option), but he has determined that his position is better served in at least temporarily putting up with the coercion. Under coercion, the coerced party is still doing the best they can under their unfortunate circumstances, and any exchanges they make are positive-sum.

There is additional confusion under asymmetric information. Although many economic theories assume perfect information, economic participants with imperfect or even no information can always avoid making trades that they feel are not in their best interest. Considering transaction costs, then, no zero-sum exchange would ever take place, although asymmetric information can reduce the number of positive-sum exchanges, as occurs in the market for lemon- Wikipedia

Capitalist system/market system is all about exploitation so competition is not really a bad thing per se. This global market is structured in way that asymmetric nature will correct itself (whether due to Govt intervention or through other forces in play) to bring the market to equilibrium so the cycle continues
Wetin I no sef my humble opinion