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InstaForex Nigeria Profitable Forex Trading Strategies (Part 3)
Your ability to observe Support & Resistance together with RSI Indicator as advised by Professionals at InstaForex Nigeria increases your chances of winning on every trades..
HOW TO OBSERVE SUPPORT AND RESISTANCE:
The support and resistance levels are key areas or zones; In MT4 charts in which traders look out for it enables them make accurate decisions as regards successful trading or in execution of their trades.
I) AT RESISTANCE LEVELS: Sellers are expected to come in more into the market thereby exerting a downward pressure on prices thereby forcing prices DOWN.
II) AT SUPPORT LEVELS: Buyers are expected to come in more into the market thereby exerting an upward pressure on prices thereby forcing prices UP.
At resistance levels prices might be retesting the resistance levels after a major uptrend thereby forming a channel.likewise after a major downtrend prices might be retesting the support levels thereby forming a channel.
Please note that resistance levels are not straight lines but an “area or zone” the same applies to support levels
PROFITABLE USE OF THE R.S.I INDICATOR:
The relative strength index(R.S.I) as the name implies enables the trader to determine the strength of the trends. It is better used with the default parameter.
Its applications are such that:-
If R.S.I is above 50 = BUY
If R.S.I is below 50 = SELL
If R.S.I is above 70 = OVERBOUGHT Which means that it started buying from Level 50
If R.S.I is below 30 = OVERSOLD Which means that it started Selling from Level 50
If the R.S.I is above 70 level it is said to have been overbought because it started buying from 50 and could remain at overbought level for days. If RSI is Less than 30 Level it is said to have been oversold because it started selling from level 50 and could remain at over sold level for days, This indicator is more stable when viewed at the bigger picture i.e on the daily time frame.
Please note that where level 50 is not on your indicator window, locate the horizontal line on your instaforex trading platform and drop it between levels 70 and 30. Double click on it and as soon as the white dots appear on the two extremes of the horizontal line, place your cursor on the horizontal line and then locate the 50 level accordingly
You can use the RSI technical indicator to create your own technical system.
This system will never work 100% of the time, but if they work 70% – 80% it should be enough. To further increase your chances of winning and reduce your probability of losing on every trade you can use fundamental analysis. I think that most traders choose one or the other but many traders use both.
Fundamental analysis is to trade the news.
Start your trading way right now with InstaForex Nigeria!
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InstaForex Nigeria – Advantages of Trading with InstaForex
Forex Trading with the Award Winning Forex Broker..
1. Good bonus system; InstaForex offer several bonuses to its clients including bonuses like 30%, 55% etc. the best part is that these bonuses are trad-able which many brokers are trying to imitate. Other brokers will remove their bonus from their client’s account when the customer is losing and this eventually causes the client to lose all his funds. This is not so with Instaforex, InstaForex allows the bonus to buffer and support the client’s capital throughout his trading.
2. Deposit minimum of $1 and a 1:1000 leverage; Award winning InstaForex broker started allowing Forex trading with only $1 deposit and they still offer it till date. At that time most brokers had minimum deposit at $100. It’s often surprising that the broker which has many millionaires traders can also accommodate many traders with $1, $5 deposit. Irrespective of the deposited amount InstaForex still offer same and equal services for every account.
3. No cheating; Most brokers offer the same amount of spread but this is what newbies will discover. Some cheating brokers will offer a spread of 0.3 but when you want to close your trade their platform will prevent you until 0.3 or more values have been added to that trade. InstaForex broker does not exhibit this type of fraud. A client once complained about a broker that he could not close a profit trade until 4 hrs later after so many attempts and requotes. He eventually closed that trade in a loss. This is pure cheating.
4. Demo Contest; unlike other Brokers, There are clients that have the trading skills but lack the capital to trade with. To help such clients InstaForex introduced so many types of contest from weekly to monthly type with cash prizes that are credited onto live accounts from which these clients can trade and earn profits for themselves. This way InstaForex has made itself well loved by vast range of clients. Several traders have won thousands of dollars from such contest and this became their start-up capitals.
5. Autochartist – Clients of InstaForex Nigeria can employ a latter-day software instrument, Autochartist. It works online on more than 500 trading instruments and signals the most profitable trading opportunities. Use of Autochartist will allow you to facilitate the Forex trading. In this section, InstaForex clients will be able to download the Autochartist plug-in for free.
- For more on InstaForex unsurpassed services in Nigeria. Call: +234 (0) 813 345 0038
- Don’t have an account? Click Here to Open a Live Account
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List of InstaForex Partners in Nigeria
With over Two million registered traders worldwide, InstaForex has become among the biggest brands in the Forex market.
InstaForex broker presently have over 230 representative offices all over the world with its head office in Russia.
The priority of InstaForex Nigeria Office is rendering high-grade services which are aimed at assisting clients to instantly Fund and withdraw from their Forex account in Naira from Banks within Nigeria, Providing professional training services on Forex, Gold and Stock online trading and also to assist client(s) to open an InstaForex Live trading account.
InstaForex Office in Nigeria
Working hours: 08:00am – 5:00pm Nig Time
Phones: +234 813 345 0038 – Hotline
+234 802 243 3385
Skype: InstaForex Nigeria Office
Address: Angelina House, NO.31 Wetheral Road First Floor, Owerri-Imo State, Nigeria
Facebook: https://www.facebook.com/instaforex.nigeria.ng
Email: [email protected]
Website: https://instaforex.com.ng
List of IB Offices in Nigeria
Port Harcourt IB Office
Working hours: 9:00 – 17:00
Phones:
+234(8)097-847-300
+234(8)097-847-005
+234(8)152-089-106
Skype:
ifx-phnigeria
Address:
2b Aggrey Road,Port Harcourt town(by lagos bus stop), Rivers State
Email:
[email protected]
Website:
http://ifx-phnigeria.com
Port Harcourt IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
Phones:
+234 (802) 592-11-17
Skype: e-naira.com
Address:
Plot 278 Ph-Aba Express way, Opposit Rumuokwurushi Bus Stop, Port Harcourt, Rovers State
Email:
[email protected]
Website: http://www.webnetpay.com
Port Harcourt IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
Phones:
+234(7) 032-206-013
+234(8) 090-606-336
Yahoo Messenger:
Infoskyforex
Address:
??????: 14 Yaounde Street, Wuse Zone 6, Abuja; ??????? ????: 4, Peace Gholu Rd, Port Harcourt, River State
Email:
[email protected]
Website:
http://www.instaforexnaira.com
http://www.instafxnaira.com
Owerri IB Office
Working hours: 08:00 – 5pm:00 Nig time
Phones: +234 813 345 0038
+234 802 243 3385
Skype: instaforex.africa
Address:31 Wetheral Owerri, Imo State
Email: [email protected]
Website:https://instaforex-africa.com
http://www.insta-africa.com
Ogun State IB Office
InstaForex office in Nigeria
Working hours: 10:00 – 19:00 (UTC +1:00)
Phones:
+234(8) 078-743-007
+234(8) 060-519-225
+234(8) 028-849-043
Address:
Hop 24 Chief Onashile Plaza Oke Sopen, Ijebu-Igbo, Ogun State
Email:
[email protected]
Website:http://www.1paying.com
Ibadan IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
Phones:
+234(7) 052-160-955
+234(8) 035-816-707
+234(8) 028-040-61
Address:
20, Temidire Street, HenryT Bus Stop, Ring Road, Ibadan, Oyo State, Nigeria
Website:
http://www.hulkpips.com/
Lagos IB Office
Working hours: 10:00 – 18:00 (UTC +1:00)
Phones:
+234(8) 028-281-192
Address:
Block 1A, Plot 8 Diamond Estate, LASU / Isheri Road, Isheri Olofin, Lagos
Email:
[email protected]
Website:http://instafxng.com
Lagos IB Office
Working hours: 09:00 – 17:00 (UTC +1:00)
Phones:
+234(8)065-167-701
Yahoo Messenger:
enquires2ralph
Skype:
forextrading23
Address:
Suite 12, Block A, Bola Tinubu Shopping Complex, Ijaiye Stadium Road, Pen Cinema, Agege, Lagos.
Email:
[email protected]
Website:
http://forextrading23.com
