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-
InstaForex MT4 In-built Indicators are softwares/tools which successful traders utilise in effecting trades eg to either place a buy or sell trades while Custom indicators are indicators which are either purchased online or borrowed from friends..
Begin the process by first extracting the software to any storage device or to your Laptop/desktop; then install as follows;
1. Copy the indicator extracted to your Laptop/desktop.
2. Open your Instaforex platform
3. Locate ‘FILE’and click
4. Locate’OPEN DATA FOLDER’and click
5. Locate’MQL4’and double click
6. Locate ‘INDICATOR’and double click.
8. Move your Cursor to the extreme right of the’INDICATOR’window(open space),right click and paste.
9. Close and re-open the platform in order to locate the installed indicator in the navigator.
10. Locate the installed indicator and double click on it.This brings it up on the chart.
11. Click ‘OK’for it to be attached to the chart
N/B please note that if you do not perform the no 8 operation the installed indicator(s) would not appear or
be seen in the navigator.
InstaForex Nigeria Technical Support Team are always ready to help you with additional guide on how to Open a Demo account or Indicator(Software) Installation.
For more enquiries call us +234 903 358 8803 or send us email on [email protected]
Professionals at InstaForex Nigeria advise newbies to key in the amount of money they intend to start Live Trading with, so that the Demo practice would be realistic..
2. Locate Download MetaTrader 4 trading platform (zip)
3. This pops up a dialog box click on “SAVE FILE” and click OK
4. After downloading, Double click on itc4setup.exc(APPLICATION)
5. It pops up a dialog box for you to click on agree; As soon as you agree to the Terms and Conditions’NEXT’would
be highlighted for you to click on in order to proceed.
6. Leave it at ‘STANDARD’
7. When it gets to ‘LEVERAGE’ pick either 1:500 or 1:100
8. When you get to “AMOUNT” please key in the amount of money you intend to start your live trading with, so that your practice would be realistic; The least ‘AMOUNT’ being $3000 does not mean that if you key in $100 it wouldn’t take it.
- Many newbies are in a habit of keying in or practicising with amount of money they cannot afford in true life situation hence they tend to trivialise the demo account. The truth of the matter is if you cannot grow a ten dollar account, you cannot grow a million dollar account.
- Click’ OK’and wait patiently for the platform to come up. next; Right click on the market watch and click on
‘SHOW ALL’ to bring up all tradeable instruments on the platform.
Finally, Install every currency pair that you intend to be trading accordingly.
InstaForex Nigeria Technical Support Team are always ready to help you with additional guide on how to Open a Demo account or Indicator(Software) Installation.
Click here to Open a Free Forex account
Trading without Stop Loss and Take Profit is not advisable and not the right thing to do. By doing so you jeopardise your capital/equity. Traders should learn to be contented! ‘contention is gain..
Success in Forex is determined over the long term period of one month;Bi-monthly,Quarterly or Annually as the case maybe. Hence the need for Stop Loss and Take Profit accordingly prior to placing your trades thus:-
1. Determine at what price you intend to exit your trade should the market move in the direction of your trade;
i) LONG OR BUY TRADE; If you are to go LONG(BUY) and having placed your trade please note the entry price.
ii) ADD the number of the pips you intend to take out of the market to the entry price to determine your take profit(TP)price level.
i) SHORT OR SELL TRADE; If you are to go SHORT(SELL) and having placed your trades please note the entry price.
ii)SUBTRACT The Number of pips that you intend to take out of the market from the entry price to arrive/determine the take profit(TP)price level.
2. Always determine at what price you intend to exit your trade should the market move against your trade;
i)LONG OR BUY TRADE; If you are to go LONG(BUY) and having placed the trade,please note the entry price.
ii)SUBTRACT the number of pips (from the entry price) to arrive/determine the price level in which if the market breaches that level it should close you automatically as this will minimise your loss.
i)SHORT OR SELL TRADE; If you are to go SHORT(SELL) and having placed trade,please note the entry price.
ii)ADD the number of pips (to the entry price) to arrive at a price level in which if the market breaches that price level it should take you out of it automatically.
The use of take profit(TP) and Stop Loss(SL) in Forex trading cannot be over-emphasised. Most newbies or new traders come to grasp of its importance as far as longevity in the business of trading is concerned.
One should not feel that because EUR/USD or any other currency pair moved 70 pips today or more then one should set STOP LOSS or TAKE PROFIT . That is simply a wrong mindset..
Please note that the high drop in prices or high increase in prices do not occur every now and then, so traders must incorporate Stop Loss and Take Profit as part of their trading plan.
For more InstaForex Nigeria Tips on How to make money in Forex. Click here..
Your ability to abide by these four basic rules as contained in this post would help you make money out of the Forex market!
The Forex market is a 5.2 trillion dollar daily market. This is higher and more than trades in all the world’s Stock exchange put together. This is what makes the market tick. Come to think of it; The Banks especially in advanced countries,Investment companies,millionaires,billionaires such as Warren Buffet, George Soros,etc are all in it making lots and lots of money out of it. With the recent BREXIT REFERENDUM many Forex traders made money more than ever before. What are we saying here?
Knowledge!!! According to the WD GANN (the greatest Forex trader of all times)”money spent on gaining knowledge is money in the bank”.At instaforex.com.ng we teach you how to make a business out of it.
1. ABILITY TO OBSERVE SUPPORT AND RESISTANCE ON YOUR CHART.
This is one key factor that enables traders to make money in the Forex market. The best means is the ability to observe it on a bare chart and utilise the Resistance and support areas in making money out of such market as regards your entry and exit point/areas.
At instaforex.com.ng Our experienced trainers and analysts are always ready to take you on a one-on-one basis and show you the technical way forward.
2. THE USE OF INDICATORS
Indicators act as a guide. Ability to abide by its rules is very vital and would help you make money out of the Forex market. Patience is a virtue. Good indicator should be able to give or produce a minimum of 65% actualisation of trade targets. At InstaForex Nigeria we make available to our trainees,indicators with a minimum 75% good trades at no cost(free).
3. RISK/MONEY MANAGEMENT.
Every Forex trading platform has its money/risk management embedded in its VOLUME.The traders ability to understand the use of volume as regards money/risk management relative to his/her broker give you an edge. InstaForex is a micro platform provider,this allows both small and huge investors alike to have access to the Forex market via its trading platform.
4. SEEK A MENTOR
it is said that when you stand on the shoulders of mentors,one could avoid the various pitfalls or mistakes along the road to financial freedom. Mentorship is one of the Edges a trader utilise in making money out of the Forex market; SEEK IT,Go for it,start making money and you would be years and years ahead of your trading peers.
Come join the World’s leading Broker and you would be glad you did. At www.instaforex.com.ng it is nothing more than “Instant Forex Trading”
This post from InstaForex Nigeria is designed to educate traders on how best to avoid pitfalls in Forex trading.
1. INADEQUATE KNOWLEDGE: Trading is knowledge based. Most newbies don’t take time to acquire the required knowledge instead with shallow knowledge acquired from Forex workshop/Seminars they take a plunge only to get their fingers burnt.
2. AFRAID TO TAKE A LOSS: Trading is business and losses are part of a business and should be taken as part of expenses. Please note that getting trades wrong is natural and should be expected. So don’t give up easily; only re-strategise. At InstaForex Nigeria how to minimise losses are adequately taught to our trainees by our award winning Mr Paul Odibeli of InstaForex Nigeria Technical Support Department.
3. OVER TRADING: Most traders particularly newbies tend to trade excessively undermining their equity. This is not advisable at all.
4. EXCESS LEVERAGE: In as much as leverage would enable the trader to make more money, one should remember that it is a two-edge sword which in most cases gets a trader’s account wiped out. In other words, high leverage is of great benefit for one to grow his account.
5. INDISCIPLINE/MONEY MANAGEMENT: Trading is a long term business and should be treated as such. Most traders in a bid to grow their account throw caution to the wind thereby negating all the rules. This happens to most greedy traders/newbies and they get their account wiped out thereby giving up easily.
All these and other mistakes in Forex trading are duly treated/handled and advised to our clients at www.instaforex.com.ng
Join the ForexCopy System and start making money without trading on your own!
The ForexCopy system by InstaForex is an innovative service that enables a client to copy the trades of successful Forex traders and copying their trades online on a set ratio.
The ForexCopy system represents a new wave of high-grade financial services. The system does not require investments in share holding projects and provides instant execution of copied orders, subscription to selected currency pairs and other financial instruments, and enables adjusting a ratio of copying.
InstaForex Nigeria ForexCopy system is designed to enable copying orders of successful and professional Traders registered in ForexCopy. Statistics on a trading process and chosen strategy is available on the ForexCopy monitoring page.
To allow copying trades, professional Traders should once adjust terms of copying and then proceed with habitual trading. A Trader may choose various options, such as a commission per deal, a commission per 0.01 lots and a profit share to be paid by his Followers.
However, a Trader will receive a commission only in case: a deal yields profit to his Follower; this profit covers a commission to be paid by the Follower to the Trader.
A Trader may choose a daily subscription. In this case Followers will pay a fixed commission per day if the Trader has opened at least one position during the subscription period. The ForexCopy system does not limit Traders in adjustment of their copying terms. Depending on a strategy and preferences, a Trader may choose all terms or only one.
InstaForex ForexCopy clients in Nigeria may use the monitoring list to choose the best Traders and subscribe to copy their trades. The ForexCopy system provides a Follower with an opportunity to adjust subscription parameters for every Trader separately. Subscription parameters include a ratio of copying, currency pairs and other financial instruments, and a limit on a number of trades copied per day. A Follower may set all these parameters individually for every Trader.
There are no limits on a Trader’s or Follower’s account balance. If a Follower’s account is under deposited to copy and open a trade, the trade simply will not be opened on the Follower’s account. There are no limits on a number of Traders to follow, and copying orders between two Traders is allowed.
Any InstaForex customer may register in the ForexCopy system and start copying orders of successful Traders. Registration in the system is free of charge.
Every user of the ForexCopy system may follow profitable trading strategies by selecting Traders in the public monitoring list and copying their successful trades.
Link to Successful ForexCopy Trader Click Here..
Link to Forex Copy Monitoring https://www.instaforex.com/forex_monitoring.php?trader=2817288#/
Link to ForexCopy System https://www.instaforex.com/forexcopy_system.php
BEST TRADING CONDITIONS FOR INSTAFOREX NIGERIA
107 currency instruments
Access to 88 CFDs on US stocks
Access to trading on gold and silver
Access to CFDs on futures
Options trading: intraday and expiry binary options
High-quality technical and consultancy support
Forex Calendar SMS news notification
Instant automated processing of all deals
Trading leverage from 1:1 to 1:1,000
Unlimited deposit amount
Cent accounts available
Instant trading account Funding
Minimum deposit of $5
Access to swap-free accounts
Start your trading way right now with InstaForex Nigeria!
Why would you choose a broker like InstaForex?
In life before making a choice we must consider certain variables to enable us choose the best out of other options. This same principle applies in the Forex market too where there are over 100 brokerage firms.
So to make that decision, I want you to give an answer to this simple question: Does servicing a client base of over 2 million mean anything to you? If the answer is yes then your choice will be InstaForex. Client is the life of a company; InstaForex has the largest number of clients comparing with others. They earn the trust of client by their good service and distinct idea of trading and live support to their client. On Dec 7th, 2012 we got an email from IFX PR that says the broker (InstaForex) is now serving over One million and On Dec 19th, 2014 we got an email from IFX PR that says the broker (InstaForex) is now serving two million. Here is the official PR page from them: http://instaforex.com/million_clients.php
Lots of brokerage houses are giving facilities of Forex trading to their clients but InstaForex is the best in all these criteria:
- No scam
- Forum facilities
- Maintain due time and no delays
- No cheating
- Deposit minimum $1 and have 1:1000 leverage.
- Less amount of spread
- Every popular payment processor are available.
- Demo contest
- Well paid bonus system other brokers have copied
- 24/7 live communication service/chatting service
Now, let’s discuss a few of these points:
- No scam –InstaForex gives daily trade summary because it’s a very reliable Many brokers serving their clients all have mixed properties for example; if one broker is facilitating one thing better than other but at the same time that broker will have disadvantage in some other field so no one is perfect, only Instaforex is the best broker company in all respect of providing better services to their clients. InstaForex is the best broker of Asia in past couple of years. Also, Global Banking and Finance (which is known as a very reputed organisation for financial activities worldwide) awarded INSTAFOREX with best broker of Asia.
- Forum facilities – You can place reply to post on mt5.com and get paid $0.20 per post. This is to help clients that do not have capital to start their trading with.
- Maintain due time and no delays – in case of deposit and withdrawals. Some brokers play tricks when a trader wants to withdraw his profit, they make up new rules to prevent the withdrawal, this is not so with
Other points to be discuss like Scalping facilities, availability of many demo contest etc will continue next week. Most of the people join InstaForex because they know they‘ll get the best experience as a trader. So I highly recommend you choose InstaForex as your choice broker.