Currency Trading Seminar

Where Are The Proven, Profitable Systems Found?

Sun, 24 Jan 2010 17:35:24 +0000

There’s one general rule of thumb that goes for all entrepreneurs…earn good profits. But, you need to learn how to do this all on your own without taking anybody’s help. In other words, this rule of thumb goes for all kinds of investments, together with foreign currency trading, more commonly referred to as forex trading. The fact that Forex is the largest platform in the world where nearly 2 trillion U.S. dollars are traded on a routine basis cannot also be denied. However, how far this works for a person depends upon various factors. Even after staying in this profession for one or two years, do you feel that you didn’t get the desired results? If that’s the case, then I guess something is wrong with your forex trading system. You feel that your present trading system is not that effective to meet your day to day expenses or it may be that you are sick of the low-yielding returns in stocks, mutual funds, real estate and bonds. I understand your problem and have come up with an idea. Here we go…You need to choose a proven and profitable system that works in all situations. Now, a question may promptly pop up in your mind, i.e. “where can you find these profitable and proven systems?” There are innumerable websites where you’ll find information about trading system as well as how they help in earning good profits. Executing trade on the forex platform isn’t a cakewalk and you need to choose the right forex trading system to make this turn into a reality. If you are serious about becoming a successful trader, then in addition to choosing the right trading system, you need to also get hold of the right money management skills. With a good forex trading system you can reap the maximum benefits of availing high returns on your investment. This type of a trading system is a perfect blend of an automated trading signals and robot system for offering the most profitable and consistent return in the forex market. You don’t need to spare your hard earned money on trading materials, seminars or mentors for learning the art of trading in the forex market. This isn’t all; you don’t even have to sit hours after hours in front of the computer screen for trading your account physically. Instead with a good forex trading system all you need to do is devote only a few minutes for the same. The trading system will help you to automatically execute the trade and you don’t even have to worry about over-leveraging. In addition to carrying out a trade automatically it also helps you to modify the position sizes for trading the optimal number of contracts or lots. You don’t get a chance to miss out any deals even if you are away from your computer because the forex trading is there to cater to your needs. There are innumerable online sources from where you can look for proven and profitable systems and one such viable online resource is www.TradingSystemsForYou..com.

97% of traders fail,automated forex systems are here to stay

Sat, 23 Jan 2010 05:51:28 +0000

It doesnt matter how the outlook of the current economy is, the forex market still offers plenty of really good money making opportunities for amateurs and experienced traders alike. Automated forex online currency trading systems presents everyone with the tool they need to get started profitably. Any one could loose there job at any time, and you should be ready for any possibility. If your incomes and finances are in order, you will be better able to avoid being plunged into unmanageable debt caused by job loss and will be less likely to accept a job you will end up hating. Getting your self ready for all circumstances with out being paranoid. This is when you should buy an automated forex system to help you brake the forex marketWill you use the system after you purchase or just do as so many put in a drawer and forget it? A few people use their money to buy a automated forex system that they never get to use until something dramatic like a job loss shocks them from their sleep.You can trade currency online in many ways, and a trader will be able to find the technique the is best suited for his personal trading methodFor beginners and those still struggling to make money online from currency trading, I highly recommend the use of an automated forex system. Why begin to use a slide rule like the olden days when you can use a digital calculator?Almost all forex traders, 97% to be accrued, fail in the forex market because they lack the education and discipline that is needed to succeed. Almost every new comer believe that they can just go to seminars, get a few courses and ebooks, open up a account and start making money. This is not so.If you want to start making money today from the forex market, you need a specialised and powerfully designed automated forex trading system or a robot to rake in hundred of dollars every day for you. You do not need to sit in front of a computer all day to use most automated forex systems.A good automated forex system will carry out all your trades while you sleep or relax with your family. Those systems will actually trade better than all so called gurus or specialists, because it is not influenced by emotions and greed. A good system will also help you to trade faster using artificial intelligence. Most are easy to download, install and setup and you will start making money immediately from the comfort of your home. By using an automated system you will become a very successful trader with very little effort.A good automated forex system will change your life forever. But you must never let anything to discourage you on your march to find the right money making opportunities that will explode your investments into huge profits.Which automated forex system is the best? Click here to find out now!

Forex Training – A Career Changing Decision For Investment Success

Fri, 22 Jan 2010 17:52:07 +0000

The forex (currency trading) market has been becoming increasingly popular over the last five years. There are a lot of different products on the Internet selling so-called forex training. There are also at several seminars available, software is that claim to make forex trading automated, or just give you a system that supposedly enables the retail investor to be able to trade forex market more easily more easily.
The cost of courses which aimed to give a forex training to the retail trader can vary from literally a few dollars to literally several thousand dollars. Establishing a budget is therefore important. You tend to get you pay for at best. Expecting to become a professional retail forex trader on a seven dollar e-book is likely to leave you very disillusioned. Unfortunately, at the get rich quick mentality, will not get you into the best forex training available, because the get rich quick mentality tends to come from desperation.
Forex training sites that wish to cash in on desperation will charge generally speaking smaller amounts of the forex training and play up on the hype in the hope of getting more sales, whilst on many occasions occasion failing to deliver on any real value, when it comes to actually trading Systems offered. That is the author’s experience, both as somebody who offers forex training, and who has bought many of the systems, traded the strategies and tested them, and found out what works and what doesn’t.
The irony that there seems to be a process that forex traders need to go through at first whereby actually the most important forex training that could be available to them, is in fact that which seemed so simple that it was not the best out there, however once learned as to how it can be applied in trade in the market, you don’t really need anything else.
Good forex training must include the transference of the strategy from the trainer to the trainee. The forex training will encompass not only fundamental and technical analysis, but also money-management, forex trading psychology, and if possible, recommendation of a suitable forex broker and a trading platform/charting package which the trader can get used to using.
As stated earlier, a budget should be set as to how much the traders going to invest in him or herself in order to become proficient at their new-found art or career move, depending on how seriously they are going to be taking the forex investing and to what level they wish to trade. It is possible for a forex trader who undertakes forex training, to become successful very quickly, to the level whereby with the right contacts, they can trader the institutional level, provided that they are able to provide documentation proving their track record beyond a doubt.
This has been witnessed by the author, with a forex trader who undertook forex training which actually has a very bad rating if you are to be naive enough to trust some of the review sites and forex forums which online available to the freebie seeker and the seasoned trader alike. This is a point that should be taken on board.
It is absolutely possible, for a retail investor, to become a professional institutional forex trader, having taken forex training and applied it with sufficient fervour and success, so as to make their own strategy, find new contacts and resources with which to improve and refine their trading, to the level whereby they can actually become an institutional investor as a result of making the decision to become a forex trader and undertake retail forex trading as an investment vehicle, career or new outlet for learning and making money.
The above paragraph probably comes a surprising to a lot of readers, who are influenced by the scepticism and cynicism of people have been disappointed having undertaken forex training, possibly expecting learning forex training strategies and expecting money to manifest out of thin air, simply for attending seminars, spending money and listening to so-called gurus.
The truth of the matter is, even if you have the best forex training or the worst forex training, the onus is still on the individual trader, to develop the discipline, to invest the right amount of money, to cut their losses appropriately and to let their wins run appropriately, as to set up a system for buying and selling that enables them to reach their goals in trading forex.
Therefore, forex training, ought to include how to create a forex trading plan that the investor can follow and used to help them stay on course and make the necessary adjustments in terms of education, their participation in the market, etc in order to stay on course to meet their objectives.

Some Important Tips on Choosing Your Forex Broker

Thu, 21 Jan 2010 18:19:55 +0000

There are many Forex brokers to choose from when trading currencies online – and choosing the right one is essential, if you’re going to maximize your FX trading profits.

This article is all about choosing the best broker to help you trade online – and help you achieve currency-trading success.

Firstly, you need to understand the following:

A Forex broker is there to help you place orders and give you a good service when doing so.

Many novice traders however choose a broker assisted account – and then expect their broker to help them make money!

You shouldn’t use a broker-assisted account.

To succeed in FX trading you need to understand that you alone are responsible for your trading success, and no one else.

Now you have your FOREX trading system / trading plan, it’s time to choose a broker. Here are some tips to help you:

Spreads Offered

Spreads can be very competitive and you need them to be. Transaction costs mount up – especially if you are trading frequently.

The tighter the spread, the more profits you will make.

Today, many brokers offer spreads as tight as 3 – 5 pips – and this is what you should look for.

Deposit Online

Look for a broker who will take online payments to your Forex account – and make sure the payment method is secure.

This is a great facility for funding your account quickly – and getting your trading profits back into your bank account!

Guaranteed Stop Loss Protection

The leverage is one of the main reasons that people are attracted to currency trading, as it increases the profit potential dramatically.

Of course, leverage is a double-edged sword – and where there are high rewards, there is high risk.

Many traders are nervous of trading with the potential to lose more than their initial deposit. With this in mind many Forex brokers now offer guaranteed stops and negative balance protection.

This is a sensible service to utilize when you first venture into trading, as it gives peace of mind for a small fee.

Leverage Offered

The leverage brokers will give you varies dramatically from broker to broker.

You should look at a broker who will grant you at least 200:1, as it will maximize your potential profits.

In fact, many brokers will give you leverage of up to 400:1.

Other Charges

Your only transaction cost should be the currency spread – you should not pay other commissions.

Always make sure that the currency spread is the only fee you’re charged, and that you don’t pay any extra brokerage commissions.

Investment Amounts

Today, currency trading is not just the preserve of wealthy individuals and banks – anyone can get involved, as deposits are affordable to all investors.

You can open a trading account online with as little as $100.00 – this means that novice traders who want to start out with a small amount can do so.

Trading Platform

If you are trading online, you will go through a Forex trading platform – and you should look at this closely when looking to trade with a broker.

You want ease of use and reliability – but also check that the broker provides assistance and support.

FOREX Trading Education

While you should always make your own investment decisions, it’s nice to get free trading tools such as:

· FREE trading guides· Forex training seminars· Trading news· Trading recommendations· Forex trading systems· Trading books

These can be useful when you first start to learn Forex trading, and you are developing your own Forex trading strategy.

Choose Your Broker Wisely

When choosing a Forex broker you have a lot of choice, and the above tips will help you choose a broker that will be a valuable partner in your quest for profits from online Forex trading.

Initiating a Rookie in Forex Business

Thu, 21 Jan 2010 05:46:46 +0000

The question we first need to ask is what is the forex market?

The forex market acts as medium to trade different currencies against each other. It is used by banks, central banks, governments and big corporations to hedge their currency holdings in the event of either a devaluation or revaluation as this can have undesirable effects on their balance sheets.

Then we have currency speculators who are into the business to simply to make money, whether a currency goes up or down. In currency trading, speculators are involved in buying and selling of currencies in a market with a daily turnover of $1.9trillion.

Traders speculate on the dollar, euro, yen, British Pound and many other currencies and make their profits based on the pips or movements in the price.

The market operates 24hrs a day, 5 days a week and it is very liquid.

The beauty of forex trading is that you need only a little to start with as many have commenced trading with as little as $100. Profits in the business defy logic with traders able to quintuple their money within days!

Prior to the start of actual trading, many rely on a demo account from which hopefully they would have learnt the ropes of the business. It is advisable that demo trading is carried out for 30 – 60days. This is due to the high risk nature of forex trading and the technicalities involved.

Good tutorial trading is essential to succeed in the business. Many either go for seminars, or purchase e-books or tutorial videos on the subject. Many join forums to enable them mingle with other traders and get access to what they hope may be profitable tips to enable them strike a fortune.

The business of currency trading is primarily carried out online and a a trader can check his stats anytime. An internet connection is therefore a must whether at home, office or at a cafe.

The basic factor for success in the business is the ability of one to fully understand how to apply both the technical and fundamental analysis when trading forex.

Fundamental analysis is simply the ability to speculate how the market will move based on information provided. For instance, an increase in the interest rates by the apex bank usually leads to a strengthening of a currency.

Technical analysis is much more scientific which relies on computer models which are based on patterns or trends observed in the markets over a period of time.

The sensible fusion of these two methods can yield enormous profits. The author however believes that fundamental analysis is the superior of the two.

Traiana and Aegisoft to Discuss an Integrated Buy-Side Solution for Trading and Order Processing

Tue, 19 Jan 2010 05:30:00 +0000

LONDON and NEW YORK, NY–(Marketwire – January 6, 2010) – Traiana Inc., the market standard for post-trade processing of foreign exchange trades, and Aegisoft, a leading provider of global trading solutions, software and professional services, today announced they will co-host a live web seminar for FX traders, settlement managers and IT personnel on high-frequency foreign exchange trading. The complimentary web seminar entitled, “Creating an integrated buy-side solution for trading and order processing,” will be held on January 21, 2010 from 3 – 4pm GMT (10 – 11am EST), and will address how asset managers, hedge funds and proprietary trading firms can streamline the post-trade process, reducing costs and decreasing operational risk.

During the web seminar, FX Concepts, one of the world’s leading independent providers of foreign currency management and research, and Citigroup FX Prime Brokerage, one of the world’s pre-eminent financial services companies and a leader in prime brokerage technology, will share their experiences of streamlining the post-trade process, reducing costs and decreasing operational risk.

As a complement to the panel, Traiana and Aegisoft, leaders in execution management, FX market aggregation, and post-trade processing, will talk about their recent partnership to provide a streamlined post-trade processing and settlement solution for FX trading firms using algorithmic execution and automated trading technology.

About Traiana Inc.

Traiana Inc. (www.traiana.com) provides global banks, broker/dealers, buy-side firms and e-trading platforms with solutions to automate post trade processing of financial transactions. Traiana’s post-trade solutions and the Harmony Network are used by over 500 of the world’s leading financial market participants and have become the market standard for post-trade processing of foreign exchange transactions. Traiana, an ICAP company, is headquartered in New York City with offices in London, Chicago and Tel Aviv.

About Aegisoft

Since 1994, Aegisoft has been providing innovative trading solutions, software and services to the global financial marketplace. Aegisoft’s solutions support companies who need to address: algorithmic support and execution for multi-asset trading; FX market aggregation; high frequency spread trading; back-testing of algorithms; FIX validation. Our focus is on delivering unparalleled value and competitive advantage to our diverse global customer base. We are committed to providing the trading solutions, services, training and support to meet the unique needs of our clients and help them reach their greatest profit potential. Aegisoft’s solutions are backed by more than 15 years of steady growth, deep industry knowledge, and innovative technology. For more information, please visit www.aegisoft.com.

Making Decisions in the Forex Market

Mon, 18 Jan 2010 18:35:09 +0000

Statistics show that 90 percent of New investors fail, 5% break even, and 5 percent actually make profits in the Forex market. What the statistics do not tell you is about half of these investors jump into the Forex market with little or no research or training. Perhaps this is why so many people fail.

Gaining the amount of knowledge needed to be successful in the Forex marketplace is actually not difficult. Someone with an education of an Associates Degree, or even a high school diploma would be able to gain the knowledge with just a few years of studying the market.

However, no matter the amount of education or training you have, the number one problem new investors have is making good decisions. While some investors have no problem making decisions and sticking to them, the majority of the human race simply have trouble doing this. Whether it is emotion, lack of knowledge, or uncertainty that makes decision making hard, it must be overcome to be successful in the Forex market.

The Forex market is actually one of the biggest trading markets in the world. Open 24 hours, the market follows every major countries market including The United States of America, Europe, and Asia. Because of the time zone differences, the Forex market remains open 24 hours a day.

Forex currency trading allows investors to trade between two world currencies. By doing this, traders buy and sell with the hope of making a profit. Its daily volume averages around 1.8 trillion dollars, which makes the potential for making profits almost bottomless. If you are interested in becoming financially stable by investing, the Forex market may be one of the best markets to trade in, because it yields one of the highest amounts of profits.

However, becoming successful in the Forex market takes more then just investing. New investors often fail because, instead of properly educating themselves, they jump into the market hoping to make quick profits. To obtain profits, you must follow a few standard rules:

Educate Yourself

If you desire to become an expert at trading, you must educate yourself. The power of the internet gives you the opportunity to do this a number of ways. Online seminars and trading courses are available if you prefer to read and learn. If you are more of a hands on learner, simulated trading systems, which allow you to work and trade the actual market with paper money, are available as well.

Pick Your Type of Trading

Before you decide to attempt to trade by yourself, hire a trading broker to help you, or participate through an online trading system, you must understand the pros and cons of each way. Thoroughly research each option, and decide what is best for you.

One answer that may help you make informative choices is relying on the statistics and numbers rather then the emotions involved. The human aspect of decision making can be completely removed by relying on a program. FreedomRocks is a fully automated online trading system that actually does the work for you. The trading system works on statistics and numbers rather then human emotion. With all the work done for you, all you have to do is buy and sell when the program tells you too. It is truly the easiest way to make money online.

Forex Brokers – 9 Essential Points to Consider When you Open an Account

Sun, 17 Jan 2010 17:47:11 +0000

There are lots Forex brokers to choose from when trading currencies online – and finding the right one to work with us critical, if you’re going to maximize your FX trading profits.

Here are 9 points to consider when choosing a Forex broker.

1. Pip Spreads Offered

Spreads between brokers vary dramatically and the difference can be as much as double so first and foremost when trading FX you need a tight spread

Transaction costs mount up – especially if you are trading frequently and impact on your profits and add to your losses. The tighter the spread, the more profits

you will make.

Today, many brokers offer 3 – 5 pips – and this is what you should look for.

2. Deposit Online & ease of account operation

Look for a broker who will take online payments to your Forex account via and secure online payment method. This is great for funding your account quickly – and getting your trading profits back to.

3. Negative Balance Protection

Leverage or gearing is one of the main reasons that people are attracted to online currency trading. Of course, leverage is a double-edged sword – and where there are high rewards, there is high risk.

With this in mind many Forex brokers now offer guaranteed stops and negative balance protection which is a big comfort to those traders who are new to the market or want to have a finite risk.

Fees for the service tend to be quite competitive and their a popular option with many traders

4. Leverage Offered

The leverage brokers will give you varies from broker to broker, but today 100 – 200:1 leverage is common and some brokers will go as high as 400:1 meaning you have the potential to leverage your account for greater FX profits

5. Other Charges & Broker assist accounts

Your only transaction cost should be the currency spread – you should NOT pay other commissions.

Avoid broker assisted accounts where a broker supposedly will help you make money from Forex trading they wont! If brokers were good traders they wouldn’t be brokers!

If you trade in this way you will lose and you will extra commissions to.

You are responsible for your FX profits so accept this fact and go with an execution only broker.

6. Investment Minimum

Today, currency trading is not just the preserve of wealthy individuals and banks – anyone can get involved and minimum deposits have dropped dramatically.

You can open a trading account online with some Forex brokers with as little as $100.00.

This means that novice traders can start off with small amounts.

7. Trading Platform

If you are trading online, you will go through a Forex trading platform.

You want ease of use and reliability – Many brokers offer demo accounts so try them out.

8. FOREX Trading Education

While you should always make your own investment decisions, it’s good to get some freebies that can help you with your Forex trading strategy such as:

• FREE trading guides

• Forex trading seminars

• Trading news and charts

• Trading recommendations & ideas

• Forex trading systems

• Trading books etc

9. Look at the overall package

When choosing a Forex broker you have a lot of choice and the above tips will help you while there are a lot of small brokers around and many are good go for someone who has been around for a while and is established.

Forex brokers are not all the same and some are far better than others in what they offer and if you use the above tips you will find one that will help you maximize your online currency trading profits.

Forex Books: Which One is the Best?

Sun, 17 Jan 2010 05:43:10 +0000

There is no doubt about it, forex books are very useful for the new currency trader and equally for traders who want to improve their skills with new strategies. There is a very wide variety of currency trading training resources available both online and offline these days including members-only websites, forums, online courses, seminars, conferences and even one-on-one tutoring from an experienced mentor. But there are times when a good old fashioned book is just the thing that you need.No matter whether your currency trading book is published on paper or downloaded as an ebook, it can be the best way to learn in many circumstances. It wins over other options on both convenience and price. You can open it up whenever you need it. You can re-read it whenever you want, repeating the more advanced passages and exercises as many times as you need to before everything is fully absorbed so that it becomes like second nature. You can also schedule your training sessions for times to suit your life. Another advantage of forex books is that you save time by skipping over the things you already know. If you have any experience at all, going over the basics can waste a lot of your time in training that is based around seminars or even audio or video sessions online while you wait for everyone else to be shown the techniques that you have already mastered. There are new books on forex being published almost every week, so it is useful to know what to look for and how to pick out the best. Just as with any other market where money is involved, you need to know how to identify and stay clear of any scams that you might come across. The old rule is very valid here and you may want to post it up on the side of your computer as you browse for books online: “If it sounds too good to be true, it probably is!”Having said that, the currency trading market is a place where you can expect to find a certain amount of hype. Do not be too quick to make negative judgments just because a book or ebook is advertised with a fair amount of hard sell. Remember the advertising copy is probably written by a professional copywriter, not the author of the book. So you can safely ignore most of the hype in the promotional advertisements and look for the things that you really need to know. These are: 1. What areas of expertise are covered in the book.2. Whether it is right for you, i.e. whether it is aimed at people of your skill and experience level.3. What are the benefits that you personally can hope to gain from it.The first of these should be very clear from the advertising. If it is not, try asking to view the contents index of the book. The other two points will require a closer reading of the promotional material keeping your own individual situation in mind. If you can take a look inside the book you will soon see whether it is well written. You are looking for something that is down to earth, logical and practical. Professional presentation and editing is a good sign of a reputable and successful author or publisher. If you are a beginner you will want step by step information. In any case, hyped up language inside the book itself is definitely a warning signal. Another thing that you should do before getting a book or ebook, even if you plan to buy in a book store, is to do internet searches on the book title and author name. Look for any news stories about the author. Is he or she a successful real life trader, or just someone hoping to make money from a lucrative trend? You need to be sure that the information in a currency trading book is good before you risk real money on the strategies it suggests.You can also look for reviews written by buyers who are actually using the information they have learned successfully. It is true that some of these may earn a commission on sales of the book but a good review will help you figure out whether the book is right for beginner, intermediate or advanced traders, and how it fits your idea of what you need to know from forex books.

The Nigerian Internet Estate: the Myths, Facts and the Reality I (online Forex Trading)

Sat, 16 Jan 2010 17:33:53 +0000

As customary to my write ups on this article board and others, I’ll continue to assert the fact that Nigeria is a force to be reckoned with as regards every known endeavor on the face of this planet called Earth, and the internet is no exception, it is left for the rest of the world most especially the United States to fathom this cold hard fact out. Well I would have titled this piece ‘the online conspiracies of the west against Nigeria’ well that would sound cynic and inane. It will look as we are beggars at the rich man’s table waiting for crumbs that falls off his table; when we are kings in the making. However, it has become imperative that we will take on destiny instead of waiting lazily for it to come beckoning at us. But do you know one thing my friend? Your destiny cannot come to you except you shrug off the ashes of defeat, rise to your feet, and then take what rightly belongs to you. Sorry if I have digressed from the main topic of the day, well I was trying to crave your indulgence as is always the case with me. Like I said earlier on, Nigeria remains the biggest internet estate and can compete favorably with India on the third world country category and in the real sense can give the west a run for their money; and as a member of cyber world is not immune to the fistful of online fallacies that pervades the internet daily. But I’ll only deal with this ill wind the as it concerns we Nigerian.

One thing that has remained obvious to we Nigerians especially those who wants to make a decent living doing decent business online is that we are greatly disadvantaged because of some pre-conceived notion of the developed economies against Africa and Nigeria in particular, but I wont dwell much on the bad side as an optimist but will deal on the possible and well established side as a realist. What do I mean by this? The internet has become a real estate and as such many people world wide are reaping the benefits of this innovation and smiling to the bank every other day, so my main concern is to get you acquainted with the common myth that pervades the internet daily and the obvious.

Recently, online FOREX TRADING has become a niche that every person with little or no experience on money matters wants to get involved in within a short period of time (most attend one to two days seminar) and want to start reaping from it, stop! I’ll love to ask, why is it that we still have few people that are rich from trading FOREX with all the hype associated with it? Well have you stooped to think this over? But my friend like I titled this article I’ll love to list the myths, facts and the reality of online FOREX trading. Personally I don’t trade FOREX but I know of an array of people who do; and from the fillers I get daily, it is not as rosy as it sounds. You loose money and you gain money, however the tendency of loosing far out weighs that of gaining if you don’t know the fundamentals of the trade. Knowing the fundamentals is not some thing you gain the knowledge in 1, 2, 3 or even 7 days as those who advertise it in dailies will tell you. What the organizers of various FOREX seminars are after is to gain back what they have loosed trading through levying outrageous seminar fees on the participants. At the seminar they don’t take the time to explain the technical and fundamentals of the market, terms like pips, bull traps, Fibonacci analysis etc are not well explained: leaving the participant more confused than ever. But like I said earlier on, trading with no fore knowledge of the aforementioned points makes trading an experience not worth the venture.

Still on online FOREX trading, it will be unfair if I don’t mention the benefits of this online money making venture even if I’m not trading this very lucrative market (yet). Basically FOREX trading exceeds about 1.3 trillion dollars daily, so it will be mediocre of a person to jump into a market as large as this with no formal knowledge of the happenings. However ,it becomes expedient of the person to get fully into the know of this liquid market before getting his hands burnt in the process of wanting to make 100 pips a day as most of the self acclaimed FOREX experts promise you when you trade on their systems. Like I always do when posting any article, I try to make detailed research (even if I know little or not) before coming to press, and when I do it is in the form of a personal experience. While this FOREX rave reached fever pitch, every person wanted to tap into this market to reap bountifully; I decided to make my own in road. Daily, I hit every search engine on the net for a detailed report, I subscribed to every ezine, news letter, and every available publication that deals with the subject. From my findings I observed that the requirements of this market is quite tasking, however if all these requirements are met, the market is worth the venture, what are the requirements I’m talking of: they include a laptop computer connected to the internet; as you need this to enhance the mobility of the market, a domiciliary account, and a form of identity which could come in form of an international passport or national identity card and a plat form to trade on.

One day I saw an advert on a daily on a FOREX seminar that’ll last for about two days, and within these two days you will be taught all the basics required to start making between 30 to 40 pips daily (note: a pip is worth about 10 dollars). I did not attend the seminar as the seminar fee was too much, not that I can’t afford it but because the money was too much for a seminar that will last a couple of days. So I took the address of the FOREX firm and decided to pay them a visit and perhaps make more enquiries. On getting there I met a lady who looked more like a cleaner than a FOREX expert, as I was expecting to see a person who looked like those who work in wall street or if I want to sound modest like some one who works for one of the banks, then how can such a person teach me the basics of the trade for me to start making 50 pips every day!. I thought may be if she really is an expert as she claims, I figure she should be making good money as a FOREX expert and at least look good for her troubles. Is not like I’m saying that there aren’t people here in Nigeria who are doing good trading FOREX, but what I’m saying is that they are very few, this is the fact and the sooner it downs on you the better. I don’t want to sound cynical but in this business is very good for you to be very truthful to your audience, telling them the reality of every situation, instead of leading them falsely by reporting fallacies and stuff.

On the contrary, FOREX trading is a niche and can not be ignored as it has enriched many Nigerians (the few who know the rudiments of the business) as I know of a guy who takes home close to 30 to 40 pips any time he trades, do you know his secret? He sells when others are buying, and sells when others are buying. He knows where to make his stop loss and quit when it really mattered, he understands the basic trends mostly the fundamental, since with it you have a clue as to how the currencies are performing in the market relative to how the various big economies are faring. One other fact in relation to a myth pervading the scenario is that FOREX is not a vocation as the ‘experts’ will tell you. It is not some thing you do on a part time basis; rather I will say it is more of a career, since most traders do it full time. Why this is so is that you can dwell on a chart a whole day waiting for a favorable signal to begin trading, while you are in your office waiting for the required signal, your boss will be telling the secretary to prepare your sack letter and pay-off. But if you learn the ropes you work smart as a FOREX trader, knowing the best times to trade; then you can jolly well make it a vocation, rather than a career as earlier speculated. The secret is that most FOREX traders don’t trade every day. This is another fact, you only trade when there are auspicious signs. Another secret is contentment (avoid being unnecessarily greedy), when you make a good move that gives you 20 to 30 pips, is usually advisable to quit at that juncture even if you see another favorable trend. Usually such trends end with you loosing the money you already made. So be careful, as it could be very enticing as well as deceitful

The fact about this market is that you make money if you avoid bull traps and interpret the market trends both fundamental and technical, looking at the charts, knowing when to buy and when to sell, knowing the best currency pair (e.g. euro/dollar), knowing when to enter and when to quit and Fibonacci analysis. If you get your self acquainted with all these, then your venture into this market will be worth the while, on the contrary the myth is that you don’t, make 30-40 pips daily by just taking part in a 2 day seminar or workshop as most will call it, most self acclaimed experts introduce you to robots that trade on your behalf, well the truth about robots is that they only function according to how they are programmed. Most robots are programmed using technical analysis, but this market is very volatile and economic trends in most leading economies especially the US can affect the market negatively or positively, for example the recent recession so experienced in the US resulted into a weak dollar and like a virus it spread to other economy especially the Euro zone and Japan: so if your robot was programmed following the reverse you can figure out what happens. The reality here is that you can only make it in FOREX when you master the ropes of the market as it has been noted that about 90 percent of those who go into FOREX exit after a short period of venturing. The fact then is that FOREX trading can be lucrative as well unprofitable. Which ever side of the divide you belong the choice is yours. But I assure you that you can make a difference if you believe in your self, since many plat forms reject registration from Nigeria (another western conspiracy), for example FXSOL no longer accepts registration from Nigeria. So it is left to you to decide how to take this market by storm as I promise to give frequent updates as regards my online experiences since I’ve decided to join the trend of Nigerians making dollars form FOREX trading.

Feel free to post your comments and views on this topic, you can also get a free FOREX manual by one of the world’s best FOREX experts, contact me by email if you are in need of this manual, it is free of charge and will come as an email attachment sent free of charge to your box. You can also get e-books on how to build your internet empire for a token fee, more so many freebies are also included like the e-book ‘as a man thinketh’ by James Allen and another free e-book by Wallace D Wattles titled ‘the science of getting rich’. Just contact me via email for these rich books that will enrich your online money making experience.