Instaforex Nigeria Office(www.instaforex.com.ng) is a unique Representative of InstaForex Broker, providing various services to meet the needs of its numerous clients within the country.
FREE DEMO ACCOUNT: You can open a fully functional demo account using professional MetaTrader 4 platform which is rightly considered to be the most popular solution in Forex trading sphere. InstaForex MetaTrader 4 offers its services on 107 currency instruments, 34 U.S. stocks CFDs, futures CFDs, trades on gold and silver, and many others. Click on the following link to open demo account directly in MetaTrade 4.
This is also known as ‘welcome bonus’ if requested by the trader, it is made available to every deposit into the trader’s account on filling the application form. This means that the number of account to which the trader could request this bonus is not limited. This is credited to every deposit irrespective of how much the trader has lost or earned on previous trading account. it also helps the trader in increasing the amount of any deal/trade.
This bonus is not applicable/awarded to any account already credited with another type of bonus. Maximum leverage allowed for this bonus is 1:1000 and verification is not required if the account is opened www.instaforex.com.ng
This is also one of the incentives from InstaForex to its numerous clients if applied for on every deposit made into the accounts of the trader on filling of the application form. The number of accounts to which the trader could request for this bonus is not limited, it is also credited to every deposit irrespective of how much the trader or client has earned or lost previously in other accounts. It also helps the trader or client in enhancing the amount of any deal/trade.
Meanwhile the bonus is not applicable to any account already credited with any other type of bonus. Maximum leverage allowed for this bonus is 1:200 and verification is not required if account is opened through www.instaforex.com.ng
$50 MONTHLY CASH BACK:
InstaForex Nigeria offers a Cash Back award of $50 to each trader account that has traded a minimum of 100 lots in a calendar month. Cent accounts will have to trade 10,000 lots to qualify. At the end of every 30 days, clients who has traded up to 100 Lots are expected to forward their InstaForex Trading account number to [email protected] and they will be credited with their winning of $50 each. Read more..
70% EDUCATIONAL BONUS:
This is available to our trainees either during their training or on completion of their training. They are expected to open a trading account with instaforex.com.ng with not less than $70 in order to be eligible or entitled to this bonus. Trained clients are expected to fill out a special form which would be forwarded to [email protected] On consideration of the request and confirmation of the deposit, the trained client’s Instaforex account is credited with $70 within a maximum period of 24hours. This would boost not only the account but would also help the trader in increasing the amount of any deal/trades as well as embarking on his Forex trading journey.
INSTANT ACCOUNT FUNDING & WITHDRAWAL:
At instaforex.com.ng our funding rates and withdrawal rates are vividly displayed on our website. Clients are expected to fill out the funding and withdrawal forms online accordingly then make deposits via either p.o.s in our office or through designated banks, Account Funding are executed within 15minutes. As regards withdrawals,go to our website www.instaforex.com.ng and fill out the withdrawal form accordingly. Clients are hereby advised that prior to the filling out the withdrawal form online, ensure that there are no much floating trades. As soon as the withdrawal amount is deducted from your account your local account is credited within 5hrs.
At InstaForex Nigeria Office Forex training is on a daily basis,Forex is business and should be treated as such. Any business worth its salt requires knowledge of it. The essence of training is to acquire knowledge. At our office training takes place from the scratch to the advanced knowledge necessary to ensure profitability now and in the long run. Any person wishing to embark on a Forex journey must be prepared to engage or register for Forex training as these experienced traders or mentors would only reveal their strategies to registered members only.
Therefore any “serious minded person should not dabble into Forex without first and foremost undergoing training”. It is said that half education is dangerous and since every business has some elements of risks associated with it (Forex is no exception), the need for training and re-training cannot be over emphasised.
Our training are tailored to meet the schedules of our numerous clients amongst whom are (i)Company executives (ii)Bankers & Accountants (iii)Legal practitioners (iv)Medical doctors,Engineers and others.
PRIVATE TRAINING FOR COMPANY EXECUTIVES,BANKERS,LEGAL PRACTITIONERS,POLITICIANS & OTHER PROFESSIONALS ETC:
This is one of the unique services in which instaforex.com.ng stands out and ranks first amongst equals in this regards. Are you interested in Forex trading? Are your tight schedules seen as a hindrance? Worry no more. Call us on 0813 345 0038 or sms FOREX EDUCATION to 0903 358 8803
Forex trading is a skill set,anybody who is determined and have passion for it could acquire the right knowledge which are being imparted on our numerous clients by our experienced and dedication professionals.
Manual trading system is bound to make you profit or rather more profitable in the long run as against automated system which is less profitable in the long run..
Manual trading is a trading system that involves human decision making for entering/placing and exiting trades. Manual trading involves a trader physically placing trades inside his trading platform by choosing the currency pairs and other assets and clicking ” buy or sell” on his own keyboard. It also involves doing or carrying out your own research,learning how to navigate your trading platform and taking total responsibility for your own trades.
Do you really want to know how to trade? Do you want to earn passive income as a trader? Are you really interested in trading? Do you want to earn consistent income as a trader? Do you intend to take Forex trading as a career? Then go for manual trading, go for training or look for wherever Forex training is being conducted, notably at InstaForex Nigeria,training goes on throughout the year from Jan-Dec
1. MANUAL TRADING:
The human trader Otherwise known as manual trader has one thing to his/her advantage which the EA/robot doesn’t have and that is BRAIN. While a robot can only execute decisions based on scenarios that are programmed into it, a human or manual trader on the other hand can take into consideration everything that is going on around him and process it together and come up with a better decision. Example:- A human or manual trader can take into account Fundamental events/news that are about to occur or are occurring unexpectedly like the hurricane/Tsunami and other catastrophic natural events in Japan ,USA and other major parts of the world that affect the markets
2. DULL,RANGING/CONSOLIDATING AND VERY ERRATIC MARKETS:
A manual trader can be very objective in his decision process unlike the robots. When the market becomes dull or ranging the manual trader could decide to either pull out of the trade or stay out completely. A manual/human trader can decide when he has enough profit and stay out of the market for a while. He could also watch and get into the markets whenever he thinks that the momentum would continue in his favour. A Manual trader can get a feel of the market and get in when the market situation is right or “in the zone” Since manual trading or human beings do not make decisions based on fixed rules or collection of logic, it is less susceptible to large unpredictable macro-economic events or shifts in economic climates.
3. EXPERIENCE AND KNOWLEDGE:
Experience and Knowledgeable traders could many times out-perform/out-live any automated system, simply because buyers and sellers are humans. Therefore supply and demand are influenced by human variables/behavioural patterns which many computers cannot analyse or produce. Experienced and knowledgeable traders can out-perform any system(automated) even those which trades exactly like them. This is as a result of the facts that they may decide to stay out of some trades or take their profits as the case maybe. Some days the manual trader can’t make a wrong decision at all, whereas an automated system would only take trades that it is designed for.
4. FOCUS ON QUALITY NOT QUANTITY:
The quality of your trades are enhanced with manual trading unlike auto-trading which over trades the market. Over trading is one of the reasons most traders fail to make money. Little wonder, EA/robots fizzles out over time or in the long run. Manual trading would enable the trader to focus more on quality of trades rather than quantity.
FINAL VERDICT OR CONCLUSION:
Whatever might be the advantages of the automated trading system even where it is difficult in setting up a manual system of Forex trading, its advantages far outweighs that of the automated trading system. The use of the manual trading system is bound to make you profit or rather more profitable in the long run as against automated system which is less profitable in the long run. An experienced manual trader can realise when the market conditions have changed even without a major event occurring. The manual trader can easily adjust his approach when the markets slows down.
For information on Forex Automated System CLICK HERE..
A very good Automated system(EA) guarantees huge profits thereby minimising traders time of countless hours in front of the computer trading..
Are you a Medical Doctor,Banker,Lawyer,Clergy man,University Lecturer or Professional in different fields interested in Forex trading but lacks the time & patience required in making trading analysis decisions and execution of trade? Worry no more,for the solution lies in Forex automated trading system otherwise known as Robots,expert advisors or black-box trading system.
Auto-trading enables the trader to trade without fear & devoid of emotions,tirelessly day and night without greed or fear of failure.
Forex Robots are employed everyday as a method of generating millions of dollars from the foreign exchange market without the need to invest anytime in manual Forex trading or market evaluation and analysis. Automated trading can certainly be very lucrative as claimed by most individuals. Go for it and supercharge your Forex exchange accounts and earnings up to 100%,200% and up to 1000% or even more.
Forex Robots finds trading signals according to the trading strategies coded into it and will execute the trading signals automatically. In other words, Forex robots are automated trading systems that enter and exit trade on behalf of the trader it could give the trader 100%,200% and even up to 1000% profit of his account within a short period of time.
Having the Robot to monitor the market for trading opportunities and execute the trades gives the trader a lot of advantages as follows:
1.EARN MONEY WHILE SLEEPING: This is one of the benefits of utilising expert advisors(Robots)because you do not need to be personally present or repeatedly engage yourself in Forex analysis and decision to trade and produce income within the Forex market. You can trade 24hrs a day even while asleep. A lot of computer programs allow you to trade on their private servers, which means that you do not need to have your laptop or computer on.
2.CUTTING OUT EMOTIONS: Automated trading system is able to solve one of the biggest traders issues e.g- psychological weak points,thereby minimising emotion throughout the trading process. By Keeping emotions in check most traders would have little or no difficulty in sticking to their trading plan since orders or trades are executed instantly once the trading conditions are met,this takes the stress of trading or analysis out of the equation. It also helps traders who are afraid to “pull the trigger” as well as curb over-trading by traders who places buy and sell orders at every perceived opportunity.
3. IT ACHIEVES CONSISTENCY: One of the biggest challenges in trading is to “plan the trade and trade the plan”. Even or where a trading plan has the potential to be profitable, traders who ignore the rules are altering the expectancy the system would have had. In Manual trading adhering to the rules allows the traders to achieve consistency by the trading plan. With the trading rules designed and coded into the robots, It’s consistency all the way and strict adherence to the rules.
4. IMPROVES ORDER ENTRY SPEED: Since computer programs respond immediately to changing market conditions,automated systems(Robots) are able to generate orders as soon as the trade criteria are met. As soon as a position is entered all other orders are generated automatically including protective stops loss and profit targets(take profit). Market can move quickly and could be demoralising for markets to have a trade reach the profit targets or beyond the stop-loss levels before an order could be entered. An automated system(Robot) prevents these from happening.
5.DIVERSIFIES TRADING: Automated trading(Robot) allows the trader,the opportunities of trading multiple accounts or various strategies at a time.This creates the potential to spread risks over various instruments while creating a hedge against losing positions.
If properly installed a very good Automated system(EA) guarantees huge profits thereby minimising traders time of countless hours in front of the computer trading.
Our Professionals at InstaForex Nigeria are available to offer FREE support on installation and activation of any type of EA(Robot)
Sms “HELP” or dial +234 903 358 8803 for a FREE support
InstaForex Nigeria bonuses are incentives made available to newbies and existing traders alike. It is to encourage traders, enhance determination and passion for trading as well as give traders more leverage to take on profitable opportunities.
Some of the bonuses of note are as follows:
$70 EDUCATIONAL BONUS: This is available to newbies either during their training or on completion of their training with InstaForex Nigeria. Trained clients are expected to open a trading account with www.instaforex.com.ng with not less than $70 in order to be eligible for or entitled to this bonus. Trained clients are expected to fill out a special form which would be forwarded to Bonus Department. On consideration of the request and confirmation of the deposit, the trainee’s InstaForex account is credited with $70 within a maximum period of two working days. This would boost the trainees knowledge acquired as well as embarking on his Forex trading journey.
30% BONUS: This is also known as “Welcome Bonus” if requested by the trader, it is made available to the trader on every deposit into his trading account, on filling out the application form. This means that the number of accounts to which any trader could request this bonus is not limited. This is credited to every deposit irrespective of how much the trader has lost and earned on previous trading or accounts. It also helps the trader in increasing the amount of any deal. This very bonus is also available for traders in PAMM investment accounts.
The profit realised or made over the bonus amount could be withdrawn at any given time without restrictions. Meanwhile this bonus is not applicable/awarded to any account already credited with another type of bonus. Maximum leverage allowed is 1:1000 and verification is not required.
55% BONUS: This is also one of the incentives from InstaForex to its numerous clients if requested for on every deposit made into the accounts of each trader. The number of accounts to which the trader could apply/request for this bonus is not limited. It is credited to every deposit irrespective of how much the trader has earned or lost previously on other accounts. It also helps the client in enhancing or increasing the amount of any deal.
The profit earned or realised over the 55% Bonus amount could be withdrawn at any time without restrictions. Meanwhile this bonus is not applicable to any account already credited with any other type of bonus. Maximum leverage allowed is 1:200 and verification is not required.
$500 NO DEPOSIT BONUS: This $500 NO DEPOSIT BONUS of InstaForex is to give or allow access to would be traders(prospective traders) and traders alike to the most liquid financial market in the world. It is also with the view of providing stable income to many traders all over the world. It allows traders to
experience the high quality of order execution of real live trading conditions with no risk or personal investment.
The $500 No deposit bonus is made available to newbies and existing clients as follows:
-Registration without verification.
-No deposit required.
-$500 would be automatically credited to your account upon registration for trading immediately. Profits realised or gained from trading the $500 bonus can be withdrawn if all requirement as stated in the no deposit bonus agreement are met.
- For information on InstaForex Nigeria Forex Education & $70 Bonus CLICK HERE..
- For information on InstaForex 30% or 55% Bonus CLICK HERE..
- To open a Live Account CLICK HERE..
- For information on InstaForex instant account funding in Naira CLICK HERE..
News releases is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it..
The following are the Forex News to watch out for and the Currencies it affects;
1. Non farm payroll – USD(every 1st Friday of each month)
2. Crude oil Inventories – CAD,USD
3. GROSS Domestic Products – GBP,USD,CAD
4. Employment Change – USD,AUD
5. Bank Governors,President ECB and Fed.Reserve Chairs’ Statements-GBP,JPY,CAD,EUR,AUD,NZD,USD
6. Consumer Price Index(C.P.I) – GBP,USD,NZD
7. BOE MPC Meeting Minutes – GBP
8. Core Retail Sales – CAD,USD
9. Producers Price Index(P.P.I) – GBP,USD
10.Retail Price Index(R.P.I) – GBP
11.Core C.P.I – USD
12.Trade Balance – GBP,CAD,USD,NZD,AUD
13.FOMC,Statements,Meeting Minutes,Projections,Releases – USD
14.Interest Rate Statements – EUR,JPY,GBP,USD
15.Housing Starts – USD
16.ADP Employment Change(Medium Impact) – USD
17.Current Account Balance – JPY,GBP
18.CBI Industrial Trends orders -GBP
19.SNB Monetary Policy Assesement – CHF
20.SNB Press Conference – CHF
21.LIBOR Rates – CHF
22.Official Bank Rates – GBP
23.Minimum Bid Rates- EUR
24.ECB conferences – EUR
25.Retail Sales – USD,GBP,AUD
26.Building Permits – USD
27.Mid-year Economic and Fiscal Outlooks – AUD
28.Unemployment Claims – USD
29.Core Durable Goods – USD
30.Consumer Confidence – USD
31.PMI (Purchasing managers’index)Manufacturing – GBP
32.Construction PMI – GBP
33.ISM(institute of Supply Mgt)Manufactory PMI – USD
34.Service P.M.I -GBP
35.RBA(Reserve Bank of Australia Governor Speaks -AUD
36.Average Earnings Index – GBP
37.Monetary Policy Statements – CAD,GBP,JPY,AUD,NZD
38.Unemployement Rates- GBP,USD,AUD,NZD,JPY
39.Core Durable Goods Orders – USD
40.Inflation Expectation – NZD
Traders should learn to “Pend” their trades prior to the time of the “News Release” and not to use “Instant Execution” when the news is already released especially high volatile News Releases.
This is very important as any attempt to place trades immediately the News is released could result in either of the following; Trade context busy,Requote,Do you want to Buy/Sell?
These system delays could cost you alot. It is therefore paramount to use “pending order” in placing trades,setting your stops and targets prior to the release of ‘News’. This is mostly the case in times of high volatile ‘News’ Such as Non-farm Payroll,F.O.M.C and various Economic blocks Chairmen/Bank Governors,President of ECB and Fed.Reserve Chairmen’s Speeches etc.
Please note that times of News releases/trading are not a time for fun or cracking jokes as are the cases with ‘Newbies’and in most trading rooms. It is a time to be focused and a time of utmost seriousness as most accounts are wiped off if you lose focus and not knowing how to go about it.
Hence, it is advised that Newbies should trade cautiously and be more focused during news releases or rather wait for normal market situations to return.
For more information on how to trade profitably CLICK HERE..
Demo trading are simply simulations; They are not “real” and “don’t exactly replicate Live Trading conditions”. Hence, they are termed ‘Demo-accounts or practising accounts..
Aspiring traders can never or rather would find it difficult to develop the necessary mental skill to succeed in real-world trading as long as they cling on to demo-trading for long. The truth is that Demo trading would not teach you so much of live trading, where your goal is to trade consistently and make real money. It is said that consistency makes a trader.
In as much as both newbies and experienced traders routinely use demo accounts to try out new brokers and trading strategies,over dependence on it is the bane of most newbies and not encouraging if you want to develop the mental skill required for consistency in Forex trading as a business,due to the under listed reasons.
1. REAL TRADING CONDITIONS MAY DIFFER:
The reality of trading can be quite different especially during major economic news releases or news events announcements.
2. REQUOTES MAY BE LESS FREQUENT IN DEMO-TRADING:
In order to attract new clients to their demo trading, some brokers might reduce or eliminate requotes from their demo-programs; whereas requotes are common in Live trading situations.
3. EMOTIONAL RESPONSES ARE DIFFERENT:
Successful and consistent trading involves learning to manage ones emotions accordingly.It has been observed that the emotional ups and downs we experience on a live account doesn’t exist in a demo account. The abilities and confidence one develops in a demo account will not help you instead it would hurt you adversely in a live account. Hence,the need to start small and get used to the psychological aspect of trading which is very vital.
4. POOR TRADING HABITS:
Some traders do not learn their lessons when demo trading, because it involves virtual money.They end up developing false confidence and abilities under false circumstances
5. EXCESSIVE USE OF LEVERAGE:
It has been observed that most Demo traders indulge in the use of excess leverage. when such behaviour are carried into trading Live account, it leads to nothing but trade disasters.
Most Demo traders are said to be trigger happy. Simply by entering numerous trades excessively thereby over-trading. This could render them unsuccessful when they move to Live trading. so the earlier it is avoided the better.
7. ORDER EXECUTION TIMES MIGHT BE FASTER:
Since Demo account does not involve real money,this might result in faster execution of trades unlike real accounts which depends on market conditions, especially during various economic news releases or announcements.
In view of the above,it is strongly advised to start with small capital as low as $5, as well as small risk levels and as soon you gain live trading experiences, one could gradually increase his/her lot size.
Secondly,accept that Forex is a business which should be treated as such, that losing is part of trading and that with proper money management,one could grow gradually as well. When we start small one should be prepared to grow accordingly, be able to develop more confidence,ability and faith in ones strategy so as to grow ones account in the long run.
Finally, going into Forex market with the right mindset is very vital to treating Forex as a business and a career over a long period of time. The passion for trading must be developed in order to be able to persevere and get used to the psychological aspect of trading as a whole.
InstaForex Nigeria professionals states that experience has shown that most beginners or newbies in Forex do not know when to place trades,what to look out for before placing trades. These are some of the reasons why most beginners lose all their money. Hence the need for training is very important. These and many more are very well taught via training.
Forex simply means foreign exchange and it involves the buying and selling of foreign currencies only via the brokers platform. It is the most traded financial market in the world. It is opened round the clock,five days a week; enabling traders to act on news and events as they happen. It is a market where half a billion dollars trades can be executed in a matter of seconds and may not even move prices noticeably,quite unlike other markets.
With such a huge financial market the need for training can not be over-emphasised for the under-listed reasons;
1. FOREX AS A BUSINESS: There is the need to see Forex as a business and not gambling, it is only then that the trader/newbie would have the right mindset to embark on the business. It is a long-term business and should be treated as such. Traders are advised to take trading seriously and as business as it’s only then would they be
able to apply the rudiments or strategies necessary for success in the trading. These could only be acquired via training, re-training and advance training.
2. KNOWLEDGE: Forex is knowledge-based. Any business worth its salt requires knowledge. The essence of training is to acquire knowledge. It is said that every business has its secrets and Forex is no exception. Hence,the importance of training is very necessary as the secrets of Forex trading could only be taught or acquired via Forex training.
A trader must be committed to continuous education,study technical analysis,fundamental analysis,psychology of trading,and be able to make logical decisions devoid of emotions and learn to trade in control. These and many more are very vital for trading and could be acquired via training and re-training.W.D Gann said that,”knowledge of the market is more important than money” he went on to say that “time spent in gaining knowledge is money in the bank”. With knowledge,you can take a small amount of money and make more after time spent in gaining knowledge”. Your success depends in knowing the right kind of rules and following them. Forex does not depend on luck,chance or fate like gambling without knowledge. Please go for training.
3. INVESTMENT: Forex trading is Investment,and Investments worldwide or globally is knowledge based. Every aspect of investment needs to be taught. Both investment professionals and beginners are meant to undergo training and retraining in order to update their knowledge. This is a worldwide practice which needs to be upheld.
Hence,the need for Forex training and retraining is very vital to success in Forex trading, and for anyone who wishes to make or take up Forex trading either as a professional or for passive income.
4. STRATEGY: Various strategies are well taught in various Forex training centres across the globe. Most of these strategies are only exposed or taught to members only. Hence, the need for training and retraining can not be over-emphasised. Any person wishing to embark on a Forex journey must be prepared to engage or register with Forex training courses, as these experienced traders or mentors would only expose their strategies to registered members only.
Therefore, any serious minded person should not dabble into Forex without first and foremost undergoing training. In as much as training is very necessary,mentoring is equally vital,as every trainer would wish his or her trainees success. We have heard it from W.D Gann,one of the most successful trader/mentors of all times,that knowledge is very of paramount importance to successful trading. He further stated that passion for trading is equally necessary. It is said that half education is dangerous and since every business has some element of risks associated with it(Forex is no exception). The need for training and retraining need not be over-emphasised.
Forex and Gambling are different things all together. In as much as there are risk associated with trading and gambling, the risks involved in Forex could be minimised/calculated while the risks associated with Gambling are entirely based on luck or chance.
Most traders(Forex) especially Newbies or beginners embark on their Forex journey as gamblers leading to what is known as Forex Gamblers thereby losing a lot of their money. This has led to the saying that one should only trade with the money that he/she can afford to lose.
In as much as there is great risk in Forex the potentials of money making in Forex is as close to endless as any, if not more than any market in the universe. A market where more than 3 to 5 trillion dollars are traded on daily basis far exceeds that of all the stock exchanges globally put together. While the comparison between Gambling and Forex is not totally baseless.
The under listed features differentiate the two industries>>
The Forex Market/Industry is backed by the biggest/largest financial institutions in the world. In as much as traders do not trade with the banks but on retail basis,the fact that market is supported by such financial organisation leads more evidence to a higher level of legitimacy than the gambling industry. Gambling as we know worldwide faces challenges of legitimacy on the legal front.Forex on the other hand is a legitimate business as any other business such as stock markets or commodities markets. Hence one should look out to put his/her hard earned resources in learning how to trade and trading which is legalised and controlled than the Gambling business.
Unlike Gambling one is not totally in the dark about/when opening a position or taking/placing trade. Various schools of thought/Academies are trying to or dedicating much of their time and resources in a bid to minimise the risks associated with Forex trading as possible.These are carried out via technical analysis as well as fundamental analysis. Forex is not about luck unlike gambling. Forex is investment and investment worldwide is knowledge based unlike Gambling. The Forex market could be analysed for days before opening a position and traders could keep an eye on the currencies they intend to trade on before taking a decision to either buy or sell. No such tools exist in the gambling world which is simply based on chance,luck or fate.
One of the main problem with gambling is the issue of addiction. People go into betting,casinos etc with the sole purpose of money thereby letting their emotions get the best part of them. When this desire of making money is not realised they simply keep on gambling thereby losing all their money and most times becoming aggressive. This is not the case with Forex whereby the trader is advised to put his emotion in check or out of the equation though most traders especially newbies or beginners find this psychological aspect very difficult, they soon find out that the way to go/follow is with knowledge unlike gambling. Forex Traders are advised to trade objectively,scientifically,set their goals and abide by them. Thereby Avoiding over-trading and revenge trading this would also put greed in check.
4. STRATEGIES (InstaForex Nigeria Special Tips):
It is said that a high percentage of traders lose money. This is true because they trade blindly without adequate knowledge,skills and above all strategy. Before a trade is taken one has to make serious decision as regards his/her trading goals. Once the decision is made it must be adhered to and implemented to the letter using a brokers platform. Application of stop-losses to checkmate our emotions and the quest to be in a losing trade instead of getting the hell out of it. Secondly, application of take profit to curb our greed of remaining in a trade instead of hoping that the our trade would continue to increase in value. Please utilise stop-loss and take-profit as part of our trading strategies instead of depending on our weak human emotions.
The Amount of money traded in forex on a daily basis cannot be compared to that of gambling worldwide.
Between 3 to 5 trillion dollars or more are traded in the Forex market daily which by far surpasses that of the gambling industry worldwide, hence the Forex market is said to be highly liquid and volatile.
From the above analysis,do you want to be a Forex trader or Gambler? The choice is yours. I’d rather choose to be a Forex trader than a Gambler of which the benefits of profit making is endless and stands out as a long term business.
For information on how to open a free Forex account or instant account funding in Naira Click here..
At InstaForex Nigeria we render high-grade services which are aimed at assisting clients have access to Forex news sms notification, Forex education and other helpful Forex information.
The Forex mindset prepares you to be a successful trader by helping you identify your unique psychological strength, weakness and how you naturally behave in times of financial stress.
Successful trading requires 10% skill and 90% emotional intelligence – Jaret martinez
- See yourself or imagine yourself as a successful trader and be goal oriented.
Characteristics of Goals:
a. It must be realistic -within your capability
b. It must be attainable -begin with a small goal and move up from there.
c. It must be measurable.
d. Self evaluation after
2. Two Reasons for losing trades.
-You follow your rules but the market did not go in your direction.
-You didn’t follow your rule.
3. Remaining Flexible – Get out of closing trade
4. Being Objective
-The market can do and undo
Characteristic of an objective person:
a. You feel no pressure to do anything
b. You have no feeling of fear
c. You feel no sense of rejection
d. There is no absolute Right or Wrong
e. You recognise that this is what the market is telling you.
f. You can observe the market from a perspective as if you were not in a position.
g. You are not focused on money but on the structure of the market.
To be a successful trader you will not always be right but you will always need to be objective..
5. Self Improvement- Very Vital
a. Don’t impose a rigid mental structure on the market’s behaviour.
b. Let go of the fear of being wrong so that you can observe the market from an objective view point.
c. If you concentrate on fear it will cause your subconscious to act out of fear and give you the very losses you are trying to avoid.
-Blaming Others/factors only slows down the learning process.
Professionals at InstaForex Nigeria advise you should not risk more than 5% of your equity(Capital) on each trade..
DOWNLOAD THE TRADING PLATFORM:
a. Go to our website www.instaforex.com.ng
b. Locate Download Platform and click on it
c. Locate Trading platform-version for windows
d. Locate Download metatrader4 Trading platform (zip) and double click
e. Click on ‘itc4setup.exe-Application’
f. This pops up the ‘Terms & License Agreement’dialogue box.
h. Click on “yes” i agree with all the terms of this license Agreement; Then click on ‘Next’ which would be highlighted for you to click on’Finish’
UNDERSTAND FOREX BUSINESS:
It is about Trading on foreign Exchange(currencies) with the aim of profiting from the market.
At Instaforex.com.ng,thorough training is provided to our clients to ensure profitability. Newbies/Beginners should undertake training to ensure that they have a grasp of what it entails.
DEMO-TRADE (PRACTICE ACCOUNT):
On downloading your trading platform; please ensure that when filling out the personal on the information page,key in the amount of money you know that you would use to open your’live account’.This is very very important so that your practice would be realistic and in line with the amount of money you would be able to afford.
Secondly, by so doing you would be more serious with your practice(Demo) Account. The truth is; If you cannot grow a $10 account, you would not be able to grow a $500 dollar account.
DEFINE YOUR TRADING STYLE:
It’s either you are a Scalper by trading on lower timeframes e.g 5minutes, 15minutes,30minutes or 1hour or you are a Long term trader or Positional Trader with a view to enhanced profits.
DEVELOP YOUR TRADING PLAN:
Your trading plan should include whatever strategy you decide to use.Forex is business,every business requires a plan which should be objective.You should be able to keep a trading Journal which should include and not limited to your trading style as stated above, your entry points,take profit price levels and stop losses. Adherence to your trading plan requires discipline devoid of all emotions.
In every endeavour of life we have elements of risks associated with it,Forex is no exception,as risks
associated with investments if not well managed leads to loss of money. Instaforex provides micro trading platform which allows smaller investors as well as huge investors access the forex market.The minimium amount on instaforex micro platform is $10
Adhering to Proper/Risk management could ensure longevity in this business of Forex trading. It is very vital that one adheres strictly to it..
TO YOUR TRADING SUCCESS-