If you have no clue about what the Forex market is or you have never heard about it, this article will give you a very brief explanation below.
Forex is the short form for Foreign Exchange Market. This is the biggest and most liquid market of the entire world today. Over three trillion dollars exchange hands at Forex every day.
People blindly gamble their money at Forex without knowing anything about it and they lose their money. Forex market is profitable, but you need to learn the basics well, do your homework well by try trading with as low as $10 or demo trade for some time.
Just remember that 50% of traders lose money, 40% make it and less than 10% become rich at Forex. The nice thing about this market is that you can make money without creating any product or service, selling anything, nor advertising. You just trade some cash and get paid depending on your knowledge and expertise.
This is the market where banks, transnational corporations and individual traders exchange one currency for another. I am talking about the spot Forex market. With InstaForex You can trade at huge leverage as much as 1 to 1000, meaning that for every dollar that you have for trading you can trade $1000. For example if you have $1,000 on your account you can trade as much as $1,000,000.
This is dangerous. Most experienced traders wont use such a high leverage. In the other hand, high leverage can be good if you learn how to use it in your favour.
Looking at the strategies and how some traders make money at Forex; Trading currencies is risky. That’s a fact. But ultimately we discovered a few strategies that could give novice traders a winning edge.
Trading Forex is easy but can be very dangerous if not properly trained. Today you may be earning a lot and tomorrow you are losing 40% of your starting capital.
Novice traders often make the same mistakes over and over again.
Few things to avoid while trading;
1.Do not look for a holly grail of trading.
This is for people who are afraid to lose or are too greedy and want to get rich quick. Even when it seems so, The Forex Market is not the place to get rich quick, though you can make a lot of money over time, you still have to learn a whole lot about what makes the Forex market tick and what moves the price of the currencies plus how to manage your money effectively so you don’t lose your capital/investment.
Many novice traders spend a LOT of time searching a perfect strategy or indicators even robots that will allow them to always win-win and never lose. They want to have guaranteed profits because they can’t stand to lose or they want to make too much (millions) quick so they can retire fast and buy a private jet. It doesn’t work like that, “always know that Forex is a business”.
A trading strategy that allows you to have guaranteed profits does exist but requires patience. Trading is very risky and also highly profitable. Remember: no risk, no reward. So, do not try to always win on every trade. It is simply not possible. There is no way to get rid of the fact of uncertainty. What I mean is that no matter how effective your trading strategy may be, sometimes it will fail and you have to be ready to face this fact.
Trading profitably means understanding the Basics of Forex which professionals at InstaForex Nigeria do. Contact us today for a complete Forex training package!
By Paul Odibeli
InstaForex account registration only takes a few minutes and allows you to conduct trading operations in the Forex market..
After registration, you will be entitled to all Bonuses been offered to traders by InstaForex ranging from NO DEPOSIT BONUS, 30% WELCOME BONUS, 55% BONUS, 100% LFC PARTNERSHIP BONUS and so on. Each bonus received from InstaForex can be instantly used to trade financial instruments or investments in Forex projects.
This is what you need to do in order to open an account:
1. Accept InstaForex Terms of the Public Offer Agreement; This agreement does not have to be signed in order to be binding; it is as legally valid as a standard paper contract.
2. Fill in the special registration form; After you have completed all the fields, you will receive the following information via email: your trading account number (login) and trader password needed to access Client Cabinet. They are also used for conducting operations via a trading platform; your phone password (keyword) used when you contact InstaForex Nigeria Technical Support or Dealer Department; your PIN code for confirming withdrawal requests.
You can start making deals on the Forex market after you have deposited money into your InstaForex trading account for the first time. You need to do it within one month after account registration. The minimum deposit size is just $5.
Now you can set up a trading terminal on your PC, tablet or smartphone, and start real trading!
Still unsure whether you need to open a Forex account? Let us list a few of the benefits you get from trading with InstaForex:
-InstaForex is recognised as a world-class Brokerage Company;
-Instant Funding & Withdrawal from Banks within Nigeria.
-Free International MasterCard for withdrawal on all ATM’s world wide
-More than 3 million traders worldwide choose InstaForex;
-Our trading conditions are designed to suit every trader in the Forex market;
-We create efficient online services with user-friendly interface to make trading process more convenient and accessible;
– (InstaForex Nigeria Support Dept) will teach you how to work inside the trading platform, make orders, use the most effective Forex strategies, etc;
-We will provide you with all necessary information,data and Forex News;
-Our online charts featuring a wide range of additional tools make technical analysis as precise and comprehensive as possible;
-All our traders disregarding their level of experience can participate in various campaigns and contests regularly held by InstaForex
-There is a great number of trading bonuses you can get by trading with us.
CLICK ON THE LINK BELOW TO OPEN AN ACCOUNT.
Click on the following link to instantly Fund your InstaForex Account in Naira.
Click on the following link to Withdraw from your InstaForex Account in Nigeria.