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
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
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