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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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How to Apply Take Profit and Stop Loss
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:-
TAKE PROFIT(TP)
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.
STOP LOSS(SL)
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..
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InstaForex Nigeria – How to make money in the Forex Market
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”
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Common Mistakes in Forex by InstaForex Nigeria
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
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Copy the trades of successful Traders
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!
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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
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Forex Trading in simplest terms
FOREX or The Foreign exchange market is an international market where various currency exchange transactions take place; this is in the shape of simultaneously buying one currency and selling another. The most commonly traded currencies are referred to as “Majors”; as over 85% of daily transactions on Forex trading involve the Majors. These currencies are the US Currency (Dollar, USD), British Pound (GBP),Japanese Yen (JPY), Euro (EUR), Swiss Franc (CHF), Canadian Dollar (CAD) and Australian Dollar (AUD).
Forex trading in the simplest terms is the buying of one currency and the selling of another. Forex trading, also referred to, as “FX” is open to private individuals, corporations, small businesses, commercial banks and investment funds. it is the largest financial market in the world having a daily turnover of over $4 trillion dollars.
Market Hours
Forex is a 24-hour market which enables it to accommodate constant changes in the world currency exchange rates . According to New York time, trading begins at 2.15pm on Sunday in Sydney and Singapore and progresses through to Tokyo at 7pm, London at 2am and reaches New York at 8am.
The Forex market is unique to any other market in the world; trading 24-hours a day. Somewhere around the world a financial center is open for business and banks and other institutions exchange currencies every hour of the day and night, only stopping briefly on the weekend. Foreign exchange markets follow the sun around the world, giving traders the flexibility of determining their trading day and the ability to take advantage of global economic events.
Spread
The spread is the difference between the price that you can sell currency at ( Bid) and the price you can buy currency at ( Ask). The spread on majors is usually 3 pips under normal market conditions eg; EURO/USD
Forex Account Opening
Opening a live trading account or Forex Account through a broker enables private individuals, corporations, small businesses, commercial banks or an investment funds Manager to have full access to the Forex Market which InstaForex does. InstaForex trading conditions has been rated among the best in the world as it enables traders to have access to 107 currency instruments,88 CFDs on US stocks, gold, silver and CFDs on futures.
InstaForex broker account opening is absolutely free – Click here to Open Trading Account
InstaForex Nigeria minimum account deposit is $1 – Click here to fund your account in Naira
InstaForex Broker also offers the following which makes it the best in the world;
High-quality technical and consultancy support
Forex Calendar SMS news notification for clients in Nigeria
Instant automated processing of all deals
Trading leverage from 1:1 to 1:1,000
Unlimited deposit amount
Cent accounts available
Instant account Funding
Access to swap-free accounts
Visit our Website on www.instaforex.com.ng for more enquiries or call 0813 345 0038
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Profitable Forex Strategies Part 1
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”.
2.Trading Strategy.
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 Nigeria
https://instaforex.com.ng/
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How to choose a good Forex Broker
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
Conclusion
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.
