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-
InstaForex Nigeria $500 No Deposit Bonus is available to: New clients, or existing clients whose balance hasn’t exceed $10 USD in the last month, whose volume hasn’t exceeded .3 lots in the last 6 months and whose deposits haven’t exceeded $10 USD in the last 6 months.
FREQUENTLY ASKED QUESTIONS
1. Do I have to make a deposit to get the no deposit bonus?
– No, you do not have to make a deposit to get the no deposit bonus. You can receive the StartUp Bonus for free and trade it without your own investments.
2. Do I have to provide documents (verify my account) to get the InstaForex StartUp Bonus?
– No, you do not have to provide documents (verify an account) to get the StartUp Bonus.
3. How to make profits with the InstaForex StartUp Bonus?
– You can open and close trades on Forex on your own or subscribe to copying deals of successful traders through the InstaForex ForexCopy system (Trade via browser, Trade via mobile app, Trade via PC, Copy trades)
4. Is it possible to trade without swaps on an account with the StartUp Bonus?
– Yes. You can turn on the Swap Free service in Client Cabinet in the Personal information section. With this service, swaps for rollovers are not charged.
5. Is it possible to invest the bonus in the PAMM system?
– No, it is not. But you can use the bonus funds in the ForexCopy system and copy deals of successful traders.
6. In what currency is it possible to register an account for getting the StartUp Bonus?
– Only USD accounts can participate in the bonus campaign.
7. What account types support the StartUp Bonus?
– A Standard account is opened by default, but you can change an account type in Client Cabinet anytime.
8. How can I use profits made from the bonus?
– Profits that make up 10% of the bonus funds will become available for trading right after topping up the account. Withdrawal of these profits is
possible only after closing deals in the amount stated in the clause 5 of the Bonus Agreement.
9. Is it possible to participate in InstaRebate or any other program for returning spreads with the StartUp Bonus?
– Unfortunately, the clients who received the StartUp Bonus on their accounts cannot take part in the rebate programs.
10. Is it possible to withdraw the InstaForex StartUp Bonus?
– No. This bonus is given only to new clients providing them with an opportunity to make profits on Forex without their own investments.
11. Is it possible to withdraw funds that I deposit to the bonus account?
– Yes, you can withdraw the funds that you deposited anytime without restrictions.
12. Why cannot I receive the bonus? I received an email saying that my account cannot participate in the campaign.
– The no deposit bonus is available only to new clients. See the clause 1 of the Bonus Agreement for other restrictions. Active clients can get the bonus after topping up their account.
13. Why does the bonus amount I received differ from the one promised in the campaign?
– The maximum bonus amount is determined individually. You can check the bonus amount available to you following the link on the bonus agreement web page
14. I cannot get the bonus. The “Get bonus” button on the campaign web page is not active.
– Please make sure the link you followed to go to the campaign web page is correct: https://www.instaforex.com/forex_promo/no_deposit_bonus?x=ifxnigeria.
We also recommend you to clear cookies and the browser cache or open another browser if the problem is not solved after following the stated link.
15. I cannot trade. The message “Trading is prohibited” appears in the platform.
– Please check the email box you specified when getting the bonus. Perhaps, your profits made from the bonus reached the threshold of 10% of the bonus funds.
16. Withdrawal: No, only profits can be withdrawn after trading 3 lots for each $1 USD profit. The withdrawal amount cannot exceed $50 USD. To continue trading, a deposit of $50 USD is needed.
Copying trade is easy and profitable for Newbies and professionals. Copying the trades of a professional is highly profitable even without you personally taking the risk of trading.
Link to InstaForex Forex Copy Trader: https://www.instaforex.com/forex_monitoring.php?trader=2817288#/
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!
This very service is FREE and is available to all Local and International clients no matter your location. There is also a free CALL-BACK to InstaForex Nigeria clients..
To access this service you must have a Live trading account with InstaForex Nigeria or kindly CLICK HERE to create one. InstaForex account opening takes not less than 3 minutes..
FREE TECHNICAL SUPPORT GUIDE:
In order to address various areas of challenges as regards Forex trading and provide tips that would enhance profitability, Clients are advised to call in every Tuesdays and Thursdays from 10am – 4pm GMT+1 through this line +234 (0) 903 358 8803.
This service could be accessed at any other day via a dedicated line +234 (0) 818 829 1443 between 10am to 1pm Nigerian time
This is one of the very effective services by www.instaforex.com.ng to our numerous clients every Tuesdays & Thursdays
FREE NEWS SMS ALERT:
This is one of the services rendered by instaforex.com.ng to assist our clients and enhance their profitability.High probability and volatile news/events are communicated to our clients via our SMS alert services as and when due.
we reach out to our clients
At our website www.instaforex.com.ng, clients or prospective clients could download it.It renders an insight into what Forex trading is all about.
Clients and prospects are advised to rush to www.instaforex.com.ng homepage to avail themselves of this package as soon as possible and reach out to our Technical Support Team via our dedicated line +234 (0) 903 358 8803 for more insight on regards the business of Forex trading. You would be glad you did while we look forward to hearing from you.
This is a special service that instaforex.com.ng offers to its numerous clients. This is being applauded by our clients all round the globe as unique in the sense that it has been assisting clients in enhancing the profitability of their trades. Meanwhile Terms & Conditions apply for The Free Signal Service.
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!
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: 31 Wetheral Road, Angelina House (First Floor) Owerri, Imo State, Nigeria.
List of IB Offices in Nigeria
Port Harcourt IB Office
Working hours: 9:00 – 17:00
2b Aggrey Road,Port Harcourt town(by lagos bus stop), Rivers State
Port Harcourt IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
+234 (802) 592-11-17
Plot 278 Ph-Aba Express way, Opposit Rumuokwurushi Bus Stop, Port Harcourt, Rovers State
Port Harcourt IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
??????: 14 Yaounde Street, Wuse Zone 6, Abuja; ??????? ????: 4, Peace Gholu Rd, Port Harcourt, River State
Owerri IB Office
Working hours: 08:00 – 5pm:00 Nig time
Phones: +234 813 345 0038
+234 802 243 3385
Address:31 Wetheral Owerri, Imo State
Email: [email protected]
Ogun State IB Office
InstaForex office in Nigeria
Working hours: 10:00 – 19:00 (UTC +1:00)
Hop 24 Chief Onashile Plaza Oke Sopen, Ijebu-Igbo, Ogun State
Ibadan IB Office
Working hours: 10:00 – 19:00 (UTC +1:00)
20, Temidire Street, HenryT Bus Stop, Ring Road, Ibadan, Oyo State, Nigeria
Lagos IB Office
Working hours: 10:00 – 18:00 (UTC +1:00)
Block 1A, Plot 8 Diamond Estate, LASU / Isheri Road, Isheri Olofin, Lagos
Lagos IB Office
Working hours: 09:00 – 17:00 (UTC +1:00)
Suite 12, Block A, Bola Tinubu Shopping Complex, Ijaiye Stadium Road, Pen Cinema, Agege, Lagos.