Forex trading in Nigeria: Your link to fabulous wealth?
Many Nigerians today dream of hitting a fabulous fortune from working on the Internet. While there is absolutely no harm in dreaming big, for some, it is sheer greed. Greed that makes them ready to believe just about anything they read or hear about making money online.
A case in point is forex trading in Nigeria. On my recent trip to Ibadan, I saw several advertising drives, aimed at recruiting forex traders. Huge posters and banners have defaced just about any available public space in some parts of the ancient city. Many of them were advertising “forex training”, while others were advertising e-gold funding/exchange.
Wikipedia describes the term Foreign exchange market (forex trading) thus:
The foreign exchange (currency or forex or FX) market exists wherever one currency is traded for another. It is by far the largest financial market in the world, and includes trading between large banks, central banks, currency speculators, multinational corporations, governments, and other financial markets and institutions. The average daily trade in the global forex markets currently exceeds US$ 2–2.5 trillion [citation needed]. Retail traders (individuals) are a small fraction of this market and may only participate indirectly through brokers or banks.
It is indeed possible to make money from forex trading online but then what the “trainers” do is to massively hype the returns one could make from forex trading. Thus, many Nigerians are attracted because they are informed that they could earn very high returns on their investment capital.
These hypes have resulted in many loosing their money due to mis-information and have ended-up denting the reputation of the forex trading brokers to the extent that Fx Solutions (FxSol) had to stop dealing with Nigerians completely. A mail from FX Sol has been making rounds in online forums recently:
Dear Trader,
Thank you for registering for a practice account. However, FX Solutions, in an effort to help protect the citizens of Nigeria from fraudulent schemes, is no longer accepting live trading account applications from Nigeria.
FX Solutions is taking this action as the company has noticed a rapid increase in instances of fraud that promise unrealistic expectations in foreign exchange trading, while specifically targeting Nigerian citizens. Nigerian citizens should be aware that there are risks associated with all trading, and there is no methodology that can eliminate risk or guarantee performance.
If you are still interested in trading foreign exchange, please consider opening a practice account with another broker.
Regards,
FX Solutions
These “trainers” charge between 15,000 naira and 100,000 naira (between $115 and $781) for training sessions that last for between 1 day and 3 days! Now, how someone can learn the nitty-gritty of a sensitive activity like forex trading in 3 days (talk-less of 1 day), beats my imagination! What such “trainers” only do is to introduce their audience to the basics of forex trading and expect them to figure out the rest themselves. The charitable ones among them give their trainees some printed or CD tutorials, and thus the money spent on training is exhausted.
Do not get me wrong. Forex trading is real and a trillion-dollar industry. It is indeed possible to make money from the foreign exchange market. What Nigerians need to be careful about are scammers who would only give you rudiments and collect your money in the name of training.
Sep 20th, 2007 at 10:27 am
thaanx man. i needed to hear somebody say it as it is.
Sep 20th, 2007 at 7:32 pm
Looks like Forex training is the new money spinner. I still remember those seminars touted as training people to become “professional” webmasters in 3 hours - even if all they could do on a PC was to click a mouse. Then there were those promising people that they would be making N750,000 monthly designing websites for banks and oil companies.
People fell for those then, and some will fall for this as well.
Those who have heads should keep their thinking caps on.
Cheers!
Sep 24th, 2007 at 6:46 pm
forex is a very interesting area of the financial sector,but it bothers me that prospective investors in this promising enterprise are not free with the people we come accross,to some of us that are willing to be players,we’ll appreciate a-more-human-face exposure.
Sep 30th, 2007 at 9:51 pm
i’ve had the same problem with Fxsol, they sent me the balance of my account.
Where can i get a reputable broker that is willing to do business with Nigerians?
Oct 8th, 2007 at 10:41 am
the stock market is the wat to go
Oct 11th, 2007 at 3:01 pm
please i will like to know other forex companies i can use to start trading in forex in nigeria.and i also want to learn all about forex and how to start here in nigeria.
Oct 12th, 2007 at 6:10 pm
I read through some articles here and im realy impressed with them all, but I’m still interested in doing forex trading, how do i go about getting good trainer, and broker, for a secure investment. Thanks.
Oct 17th, 2007 at 4:40 am
Like i knew Forex,was not all that rosy…I noticed some complications in its operations but still had the believe,there coud be a better and comprehensive explanation to how it works..
I resorted to learning it online as I couldnt part with the exhaubitant fees these trainers ask for….
some of them talked about how lucrative Forex could be and could only advertise in the dalies using 1Tenth of the full size page.Which i believe wasnt generous enough.
They literally shot themselves in the foot times without number,but what am yet to see is if their bunch of Forex Alumni have been able to truly succeed in the real market….
That aside,i would really like learn the real deal in Forex,trade and make profit….
Please what are the 1st steps that could ensure my success{the platforms,the swiss trained brokers,forex robot,opening an account,demo account,the figures how they work as well as the charts….
I could go on and on
Oct 19th, 2007 at 1:20 pm
i am really glad i came across this your article of forex in nigeria.Incidently,i live in ibadan and i see all these posters inviting people for online forex training.I am also interested in forex training,but i think there is need to be careful.I think you will be doing nigerians a lot of good if you can help provide some useful tips and guide for interested nigerians.Thank you.
Oct 21st, 2007 at 4:48 pm
I will like to know more about forex trading and how to go about it..I will appreciate it if you could send me info on forex training and trading because i am very much interested in it….
Looking forward to the anticipation of your reply.
Oct 24th, 2007 at 11:49 am
To all concerned,
Please forgive my intrusion but I came across this blog on the Internet mentioning Forex Trading and in particular in Nigeria and I though I would introduce myself.
My name is Ivan Solans and I, like many others am a Forex Trader and would like to think I am one of the good ones. After reading this blog I have to say that I totally agree with the comments and in particular with the last 2 where it is mention that these “trainers” charge between 15,000 naira and 100,000 naira (between $115 and $781) for training sessions that last for between 1 day and 3 days! Now, how someone can learn the nitty-gritty of a sensitive activity like forex trading in 3 days (talk-less of 1 day), beats my imagination! What such “trainers” only do is to introduce their audience to the basics of forex trading and expect them to figure out the rest themselves. The charitable ones among them give their trainees some printed or CD tutorials, and thus the money spent on training is exhausted.
It is indeed possible to make money from the foreign exchange market. What Nigerians need to be careful about are scammers who would only give you rudiments and collect your money in the name of training.
I have to totally agree on this as I fell into this trap when I first started my forex trading career and though I would become a millionare overnight (I was younger and more naïve in those days) and bought every single Forex Trading Book, Signal Service, to make money on the Forex Markets etc, etc. I must say that I lost track of the hours I spent trading on these so call “wonderful” systems and ended up throwing all of them away after i nearly ended up in bankcrupcy and homeless.
I knew there had to be a way to succeed in the Forex Markets and actually make money so I started my own way of a trading system and developing a system that’s accurate for Forex Trading. Now I am happy to say that after many years I am a sucesulfull Forex Trader and have developed a system that works and best of all requires very little work and time to put into place to be sucessufull in the Forex Markets and actually make some money from trading.
Our company is called Spot on Forex and it’s a team of Forex Traders and IT Professionals that came together after we had gone through just about every trading system out there, bought every book on the subject and lost $1000s and $1000s of Dollars using those reported “Success Systems”. Now don’t take for granted here, we haven’t discovered the holy grail for Forex Trading, yet, and this isn’t some magical system, we still analyze the markets and do serious trading but we do it all for our clients.
The results speak for themselves, and I’ve turned what little capital I had left in my trading account into a substantial amount to make all my dreams come true.
This is my job now and I profit handsomely and live wealthy and happily through our system and would like to share it with you so that you can also learn how to live your dreams and spend just 5 minutes a day trading your way to riches. Our system is easy and simple to use so that anyone, even complete beginners, can use it. In a nutshell all you have to do is check your mails twice a day and that’s it. We’ll send you the necessary info, the Buy and Sell trades with the exact Entry Points, Stops and Profit Limits. Your job is to just log into your account, put your trades in and walk away. It’s as simple as that.
If you have some time please visit our website at http://www.spotonforex.com and send me a mail back with any comments on this. I know how temping the Forex Markets can be and how many “scams” there are out there that steal people’s money with promises of riches trading in the Forex Markets. I assure you that we are not one of those and would like to let as many people know as we can that we exist, we are the real deal and that with our help in trading the Forex Markets your financial dreams can be a reality.
Look forward to hearing from you.
Regards.
Ivan Solans
Spot on Forex
P.O. Box 2575, Cresta, 2118, Johannesburg, South Africa
E-mail: info@spotonforex.com
Website: http://www.spotonforex.com
Oct 24th, 2007 at 12:00 pm
Ivan, I am personally not into forex at this time. Nigerians are reading and can decide for themselves. Thanks for your comment.
Oct 27th, 2007 at 1:45 pm
Please i just want to know how to trade on Forex because i am awear of dubious people operating through your trade.
Nov 1st, 2007 at 12:03 pm
the reality is that Forex is too risky if you’re not properly good at it
I meet this chap online he spent 3 years trading on Forex 2 years demo and one year live so try to be patient and learn the trade, get it right I too am in it but you see after 4 months i’m still demo trading
Nov 3rd, 2007 at 9:10 pm
Good piece!
I have been working on my practice account for a while, babypips thought me to do so for at least 2 months b4 considering a live account.
I think the way we have to help be our brothers keepers is by prosecuting the fraudsters who charge those exorbitant amounts to train unsuspecting Nigerians.
There are too many trainners that know no jack about forex trading who infact I am much better experinced than, people always complain after attending most of the trainning sesions. THIS IS ABSOLUTE FRAUD!!
Please anyone that has good conscience should join and spread the publicity to stop this fraud, it is unfair and unjust.
Imagine where a so called trainner spends N400,000 to host a session, and gets 100 attendants who can part with their N35,000, that is a whooping N3.1 m profit under one day! only to give people no value for their hard earned money.
Well I apreciate your position, my company is into financial and economic consulting, we organise citywide enlightenment campaigns and seminars, I will be glad if you can refer me to a good forex trainer/trader. Biggozz.
Nov 11th, 2007 at 5:51 pm
Yeah forex is exploding here in Port Harcourt too.I can see the appeal in an academic city like Ibadan and a commercial city like Lagos.You see,forex is extremely risky you can make $1000 today and loose it all tomorrow but because we have so many intelligent Nigerians unemployed or underemployed and because we are naturally determined, we shall continue to trade. Now remember only 30% of retail traders succeed but since forex trading is relatively new in Nigeria I beleive our own 30% has not emerged yet. You MUST only trade with money you can afford to loose because you will loose it, at least initially;a baptism of fire and pain before you can start making some.You get wiser. I don’t think we should come down too hard on those running shanty training centers,they are trying to make money to trade or trying to recover what they lost but in doing so they introduce more and more people to have at least an opportunity to trade.But when attending a class you must know it is ONLY an introduction you MUST continue to learn and study diligently.
Nov 11th, 2007 at 6:03 pm
As for those brokerage firms denying Nigerians the opportunity to trade like Fxsol,EFX group and Forex.com and firms denying Nigerians the opportunity to pay for services like paypal,they should be ashamed of themselves.If their purpose for delisting Nigeria is to save Nigerians,they can place a warning of risk even if directed spcifically at Nigerians.What they have done is insulting.As for paypal they will soon beg Nigerians to use them.
Nov 12th, 2007 at 6:11 am
i’m hosting a program today on forex at the radio station where i work and the guests will be ‘trainers’.i’m intrested in hearing their responses to most of your comments as regards info on forex.thank you all
Nov 30th, 2007 at 5:51 pm
Hello I want to go into forex trade here I Nigeria but I don’t know to go bout it so I need a Good trainer who can give me the best of training and broker, for a secure investment. Thanks.
Dec 6th, 2007 at 1:26 pm
pls I AM BASING SOMEWHERE IN OJO AND IWANT TO LEARN FOREX TRADING PLS SUGGEST SOME BEST FOREX TRAINERS TO ATTEND HERE IN LAGOS
Dec 12th, 2007 at 3:55 pm
Thank you very much for that timely and candid information.Please i would like to know if there is any company in Nigeria that offers a trading platform?
Jan 20th, 2008 at 1:42 pm
I’m interested in opening this forex account, which of the Nigeria bank runs the forex account?
Jan 21st, 2008 at 3:14 am
I just came across this blog while doing a Google search. Interesting what is going on in Nigeria. Believe me, it is not only in Nigeria where forex scams are going on, there are many places all over the Internet, all over the world.
That’s why we have created this website, http://www.BestOnlineForexBrokers.com
to distinguish the good online forex brokers from the scams. We have created ratings we have collected from unbiased individual traders from all over the Internet. If you stay with our top rated brokers, you will not be scammed. If you use anyone else, I cannot guarantee.
Unfortunately, I do not have information on which brokers will not accept accounts from Nigeria but I am sure some of our top rated brokers will.
Yes, you can make a lot of money doing forex trading, but most people lose because they do not train themselves well, they go too fast and they get too greedy.
There are plenty of places where you can educate yourself either by free (on the internet) or by books, etc. Please do not pay someone a bunch of money for forex training who promises you the moon. There is no holy grail for getting rich trading forex, just hard work.
Jan 22nd, 2008 at 8:45 am
This is an opportunity to invest in the largest liquid market in the world. The forex market happens to exchange over $1.2 trillion dollars daily. Can you beat that ?
Who are we ?
We are professional forex traders with vast experience in trading currencies. We are not affiliated to any forex broker nor introducing brokers. We are a privately managed home based money managers and we are trying to help people realize their financial needs by profiting from the forex market.
How does it work ?
Its very simple….we simply execute trades for you on your online forex account with any forex broker of your choice. With our top secret trading methods, we guarantee a 100% profits on your initial capital weekly !
Please Note :
1.We do not accept money from individuals or companies. You must open a forex account personally and you will be in total control of the funds and profits.
2.Though we guarantee 100% profit weekly, we do not hold any liability in exceptionally cases of loses as forex involves considerable risk.
3.We profit from your profits only ! You do not need to pay us from your pocket.
Who can we trade for ?
Anybody who has a live forex account .You can open a live forex account with any of the 150 forex brokers online. Due to the amount of accounts we manage, we are limiting our services to clients who have an initial capital of $5000.00 minimum.
What do we gain from helping you ?
40% of the profit made every week excluding initial capital. We will trade your account for you and guarantee a 100% profit weekly. You will withdraw funds every week from your forex account and send us our commission before the end of the following week.
Detailed explanation…
You are expected to open live forex trading account with any broker of your choice. You will fund the account with $5000.00usd and above.(Brokers do not accept third party deposits or withdrawal. This gives you absolute control and security over your money).Withdrawals can only be made to the bank account that the deposit came from.
We will execute trades on your forex account (Not bank account) and make profit. You will then have to withdraw 40% of the profit and send to us as our commission. You can also withdraw money for yourself anytime you want. We will continue to trade for you as long as you remit our commission accordingly.
What you stand to gain.?
Week 1….$10,000 (initial capital) = makes profit of $10,000. Minus 40% comm. ($4000.00). You have a total of $16000.00
Week 2….$16,000 = 100% profit of $16000.00 minus 40% comm. ($6,400.00). You have $16,500 + $9600 = $25,600
Contact : Abubakar Quadri
Abq_ups@yahoo.com or call +2348023828064
For live chat: Please add abq_ups@yahoo.com to your yahoo or msn messenger
Jan 22nd, 2008 at 11:56 am
i want to know more about forex trade and how i can go about it.:cool::cool:
Jan 22nd, 2008 at 4:25 pm
hello everybody,
I am so happy to come across these community of forex lovers.Forex is the number leading market where everyone can have a well meanning return on investment and could make a breakthrough in life.
Well for newbies and professionals in the industry,i want to introduce a very good software to everyone interested in making a good money in forex biz.
It is called the FOREX -KILLER. its is a self automated software that tells you where the market is going with a well calculated prediction.It tells you to BUY or to Sell or NO TRADE if the market movement is bad to safe your money from draining.
All you need to do is to imput the last closing prices of the market into t he spaces provided and then you click on claculate…it then tells you what percentage it is to BUY or to SELL.
If you are new to the biz it is very good for you and it is available upon request.you can call me on 08060181996 or email me on flaksyphem@yahoo.com
Wishing everyone happy trading
femi
Feb 21st, 2008 at 2:25 pm
thank you for the information, it sure opened my eyes to a lot of things about forex. you are kindly implored to send me any further imfo about this subject matter.
warmest regards.
Feb 22nd, 2008 at 3:50 pm
what u are saying is that trading is not possible in Nigeria?
Feb 26th, 2008 at 9:58 am
Pls, I want know more about forex trading and how to go about it. I am based to Kaduna now.
Mar 2nd, 2008 at 11:06 pm
hi i can also tell you much i know about forex and i am playing it with live money pesently. let talk more in my mail box may be we can something do better for eachother.but forex need money to do it.and its real. see you there……………..
Mar 3rd, 2008 at 7:10 pm
oga david i dont know but there seems to be a lot of forex marketers yanning stuff here. the question is we do not know if they also be scammers or not cos their presence on a site like this can kind of like lend credence to their dealings hence whatever crook amongst them will rope in insuspecting people. what say you. as for a solution to this i do not really know. what think you fellows readers of oga’s blog.
Mar 5th, 2008 at 9:09 am
thanks for the enlightenment, u are a good man. these guys are just reaping us off.. i’d appreciate if there is a body or institute to manage this issue.
Mar 12th, 2008 at 3:21 pm
Thanks,I need to trade but have only 500 dollars.Help me with your advise.
Mar 14th, 2008 at 9:53 am
Hello viewers and the management of forex trade.i am new in forex and i would like to know about forex trade so that i can start now.
thank you.
my number is 08022753772.
Apr 5th, 2008 at 3:55 pm
Everyone,wants to get rich….and forex is seen as that source.well 4rm the lil i know u can if you know the trick and if u can keep to the rule of the trick….
But can someone tell me wants the least amount to start a trade and wht plat form will acept nigerians.
Apr 13th, 2008 at 1:02 pm
I used to think NorthFinance were scams and they trade against clients.I had lost so much money with them and almost gave up forex until i saw d advert of Quadri Abubakar in Nigeria who trades for people.I refunded my account to his minimum of $5000 and handed it over to him to trade for me on NorthFinance.HE HAS CONSISTENTLY MADE OVER 50% PROFIT PER WEEK FOR ME OVER THE PAST 2 MONTHS using the same broker i thought were scammers.
Now i understand that most people complain about brokers because they dont really know how to trade.
Apr 28th, 2008 at 1:54 pm
I agree completely with you david. How I wish we had more of such honest and straight forward persons like you in this country. It beats my imagination how people could be so naive to think that they can just wake up one morning without any prior knowledge of the rudiments of finance and e-commerce and expect reap huge returns from the internet. These get rich quick scammers are not interested in your financial education nor your long term success on the market. No way! all they need is your money in return for their hyped, shallow and half baked seminars. Forex is real, but the vital rule is this: Educate yourself on the basics of e-commerce before venturing into a money making scheme on the internet and be objective. Never be driven by greed! wish you all the best in your endeavours.
May 15th, 2008 at 12:08 pm
making money through forex is good but not as easy a it sounds.so I’ll suggest easy ways like e-publishing, where you can earn revenue online writing you own books,other ways you can earn money online legitimately as a Nigerian includes google ad word,affiliate marketing ,ad sense etc.
Jun 4th, 2008 at 4:47 pm
Hello all, incase you need the software mentioned above : forexkiller am willing to give you for FREE and other forex materials. self mastering also help.
Note am not collecting a dime for you, I will give you once again for free.
Regards
Jun 9th, 2008 at 11:54 am
hi Grace could you send me the software? i would be really grateful. Thanks
Jun 16th, 2008 at 10:00 am
i will like to know how to trade in forex market, i want to invest………..pls give the addrss of a real broker or the number ……am living in onitsha anambra state
Jun 21st, 2008 at 8:10 pm
:lol:Grace // Jun 4, 2008 at 4:47 pm
Hello all, incase you need the software mentioned above : forexkiller am willing to give you for FREE and other forex materials. self mastering also help.
Note am not collecting a dime for you, I will give you once again for free.
Regards.
Dear Grace,
I would most definitely appreciate your kind gesture, as you send the FOREX KILLER SOFTWARE to justinvitejayjay@yahoo.com.
Thanks a Lot as your prepare to attach it to your mailbox, so as to send it to me.
Jun 24th, 2008 at 7:44 pm
Dear Grace,
I will appreciate it if you sent me your phone number, so that i could send you a credit voucher. This is to enable you mail it to me, through Box 11391 kano, Nigeria.
Thanks, once more.
Jun 27th, 2008 at 11:38 pm
If u’re like a patient dog, then you stand the chance of eating the fattest bone. That exactly is my own case on forex market. I started trading live account last year September and nearly went bankruptcy before January this year. During those tough time, i knew there must be something wrong somewhere. Some friends thought i was crazy. But i never because of those situations felt discouraged. But thank God today, I don’t think i need to write any application to secure any useless job again. Forex is more than real! you only need to throw away the impression of getting unrealistic result from the fantastic market. It’s stress-free and lucrative. Happy trading.
Jun 28th, 2008 at 12:10 pm
Dear Chidi from Kano. May I use this opportunity to advise you not to relly on any automated means of trading. No one of them yields result. You can try it. For those who needs better forex broker; Northfinance is ok but it has been acquired by FXpro. but still ok. Alapari is ok but not for news traders. Yes they are not for news traders. Lite forex is also ok.
Jun 28th, 2008 at 12:18 pm
Trading FX is like forecasting the weather. Who knows what happens in the next 5 minutes. Only God knows. So, not all your prediction at a particular time will be right. if you know this, then you are coming up. jaostephen@yahoo.com
Jun 28th, 2008 at 6:07 pm
Guys , i have really had a field day reading all the comments on this blog. olu great job you have done. Well i must say that forex trading can make you so rich and can make you so poor in a matter of seconds .. yes very correct it typifies life as in sometimes good other times bad… my foray into forex has been one of sheer determination and unrivalled enthusiasm , the kind christopher colombus had when he went on the expedition to discover the new world.
8 months down the line and i still trade with a demo account !!! despite huge profits on the demo acct i still feel that there is more to forex.
i am making extensive research into candlesticks , various variations to give me the feel of the market . Not to forget areas like support and resistance on charts . Guys i dont want to fall into the mess others experienced . They simply saw it as a money spinner and went in not knowing jack !! . Rule number one only invest what you can as well throw into the garbage can , ie money that wont make you cry when you loose it:cry: . Forex trading is not an every day activity . The maket volatilty would make you loose big if you are a day trader rather look long term , watch swings. maket emotion very important , many have not heard about this but it is the singular reason why candle sticks instead of barcharts are used .
Get a good brokerage firm , the one where the platform gives you live feeds not stale. When you make money plse withdraw quickly !! . I would be willing to share more tips , WITHOUT YOUR PAYING . just mail further ??s to my e mail add. Forget those posters , they only misdirect you and give you peripheral knwlege on a $1.5trlln market , how can people be so wicked.:evil:
Jul 4th, 2008 at 9:35 am
hi
grace i need those forex matirials send them to me at kateleonardo@yahoo.com
Jul 5th, 2008 at 11:36 am
its nice i come across this site and i would want people to talk about accopunt manager.
Jul 5th, 2008 at 11:03 pm
Dear Kunle. If u need somebody that can manage your forex account for you,then you can give me a call or mail me on jaostephen@yahoo.com This is what i do for now. But i cann’t promise 50% profit per week. But I can assure you of profit far better than what trading in Nigerian Stock can offer. my no is 08038346744. Thanks
Jul 7th, 2008 at 1:04 pm
What is the legal backing of forex business in Nigeria?, I may be intrested in forex but ,is the business legally approved by the CBN?.
Jul 7th, 2008 at 4:56 pm
Ephraim , forex trading is like any business opportunity that you can think of. It has regulations though , but the CBN does provide backing because it has no regulatory role in forex trading online , underline the word online… . . Bodies such as the CFTC, NFA are internationally recognized bodies that regulate transactions between brokers ,traders and other affiliates . Forex trading is a market that is virtual and without national boudaries , all you need is an internet connection and a live account with a forexbroker .Pls make sure u go online , look for any forex broker, dont forget to ask others who have had dealings to reccomend any one . Dedicate some time to study fx .Best of luck
Jul 7th, 2008 at 5:00 pm
Ephraim i actually meant CBN does not back !!!
Jul 9th, 2008 at 4:51 pm
Jul 10th, 2008 at 4:23 pm
Ettia,
Forex is very extensive it needs a lot of attention and dedication to understand, i dont wish to discourage you but will say that only a long term approach at gaining knowledge about fx would provide the required results. There are many “trainers ” around who profess expertise at transfering knowldge , while i dont have a problemn with this i do not support the high and outrageous amounts paid by “trainees” .
I would advise that you dedicate some time to browse the net and check out sites that provide the basic information you need. I indicated some in an earlier response. About dealing with a Nigerian firm mmmmmmmmmmmmh i dont have much to say other than u should have verifiable evidence to show a track record of success and professionalism.Take care and think long term avoid short cuts u could be ruined .
Jul 10th, 2008 at 7:11 pm
FOREX (FOReign E?change market) - is the international currency market where money is being sold and bought.Presently most company have they own trader but you can always trade your own money.Let me introduce the best forex trading material 5emas system.I have the latest forex-killer but it is not has good has 5emas system.You can check the web:www.5emas-forex-system.com for more information.I also manage account from $5000 upward.You can call me on 08034413221 or 07027704563.e-mail:bunmifx@gmail.com
Jul 14th, 2008 at 3:12 pm
Please can someone hear me out.I have been hearing about this forex,to be frank i am interested but afraid.How do i meet someone to put me on line with this stuff.I have seen people investing in it but i dont believe its their income until i experience it.
Jul 19th, 2008 at 5:19 pm
Dear reader. pls. i need any one out there to give the good broker that he can accept the atlist
Jul 23rd, 2008 at 10:41 am
grace you actually didnot drop a contact add i would have contacted you,please kindly send the software to my box ayodejiaraba@gmail.com
Jul 25th, 2008 at 10:52 am
There’s an evil i have seen under the sun, and that evil is greed in the hearts of men, but y?
due to the hype they hear out there about how lucrative and profitable forex can be, by the so-called “trainers” and “seminar organizers” sometimes even loose their shirts/lives over it:sad:.
and “greedy” 
that they want to sit down somewhere(in the comfort of their homes/offices) and watch their capital get doubled and doubled(and they become millionaires), overlooking the risk involved in doing that, pls note that the Forex Market is not the “Las Vegas Gambling Floor/Casino”, where u might “get right quick 
” or go “poor and bankrupt 
” over night.
Facts/reasons to y people lose their shirts/cash in forex trading.
1. A lot of misinformed, under-experienced and amateur traders jump into the forex waters and get “DROWNED”
2. Pple are so “lazy”
3. People trade Forex with the wrong capital(i.e $100-$500) just wait and i’ll tell u y? And they expect much 4rm it at the end of the month to either pay-up their :- internet bills, generator expenses and other miscellaneous expenses, there by opening themselves to more risk of loosing their little capital, by trading high lot sizes(i.e 0.1 lot on a $100 or $200 account)to meet up the expenses.
4. Pple dont practise very well enough on their demo before going live due to impatience and the anxiety of wanting to start making money and the internet cost involved in demo trading forex for so long and getting grounded, hmnn well i seriously pity u,lol, bcoz by the time this market will show u the bad side of it……..
5. Pple think bcoz they have done well on thier demo probably for some consistent profiting period so they feel so confident and when they want to go live they start so big(very big capital i.e $1000 above), my advice is this for the fact that u have done pretty well enuff on ur demo does nt warrant u to start so big, bcoz bliv it or nt demo is a different ball game 4rm the real trading where ur real cash is involved, so i recommend u begin with $100-$200 and 4get abt paying ur bills 4rm there.
6. Pple want to eradicate poverty 4rm thier family or upgrade thier financial status by trading forex with peanut money(i.e $1000), well we cnt say coz som pple r very good with this gambling stuff, and it works very well 4 them so good luck, 4rm my point of view b4 u can start talkn about upgrading ur family financially u should have at least $5000 minimum, then u r talkn.
7. Yes we knw every1 wants to make money trading Forex but the fact still remains that its not applicable, suitable, advisable and compatible for some pple bcoz its nt just thier way, its only if God says u’ll make it 4rm there, thats wen u might prosper/profit trading it, nw hw will u knw if its nt 4u?
a. If u are nt literate to a certain extent of knwin hw 2 read and write or computer literate, then 4get it pls look else where.
b. If u r naturally and habitually “greedy” and “stingy”, pls look else where.
c. If after so much and many training 4rm a very good teacher/trainer (like myself ehen, dnt mind me oh,hey y nt pls mind me,hheheh jus joking) and u still cant comprehend or profit 4rm trading forex,pls 4get Forex.
d. If u find it difficult to follow laid dwn trading rules and regulations 4rm a mentor/teacher(i.e myself) or u get to a certain level of expirience/practise where u feel u nw knw too much(the mentality of oversabi is disturbing u) then pls and pls look elsewhere.
8. Pple underestimate the Forex market and ignore Sound Risk and Money Management Principles, look take it or leave it without these 2 things all ur trading efforts and profits will amount to zero in little or no time jus watch.
9. Pple mix faith and Christianity with forex in the sense that when u have a loosing trade and all odds are against u they’ll say they have faith and trust God that the trade will still go back in their favour, surprisingly they get a margin call 4rm thier broker leaving them with a very huge drawdown/loss which could have been easily avoided, pls dnt get me wrong oh coz am also a Born Again Child of God too oh, ehen.
10. Traders lack a very good trading strategy and dnt knw how to spot/identify a ver good trade set-up for potential profits and when to just sit dwn on ur hands and do nothing, u c dats whats separates the Pro’s 4rm the Amatuers(entry principles and rules).
11. Traders loose their cash due to impatience and indisciplined trading stlye, when they see a small negative value they start shaking and panting, and they jump out of the market too soon only to nw find that the trade is now going back to the direction they just closed.
12. Over trading is anoda cause of loss in forex due to nt having a disciplined daily “pip target” for each days trade so they jus trade and trade until they loose the small profits they have made, which could have been safe if they had a daily “pip target”.
13. A lot of traders try to fight back the market(trading with emotions) for the loss incurred in the course of trading, only to end up incurring more and more losses, my advice is that jus go off and chill somewhere, cool off and 4get u ever had any loss 4 that day and dont try to go back to the market, no matter what the market is saying, until the next day.
14. Inappropriate take profit & stop loss levels bcoz most traders dnt even knw wat kind of trader they r, whether they r Scalpers, Intraday Traders, Swing or Position traders.
15. Forex is nt a childs play or a lazy or easy way to making money, jus put that fact in u and let it replay itself every morning mwhen u wake up.
16. Pple want smthing or a system that guarantees so much profit and little losses that requires so little time and less effort, so they end up settling for Forex Robots or Auto Pilots, 1st off i stand to be corrected or challenged if there’s at all any 1 of u out there that preaches this so called Robot trading that Profit 4rm in in a “long run” bcoz i day of loss can do alot of damage to all the profits and even ur account, hey thats nt to say that these things r nt workn, bcoz as a matter of fact “most” of them are powerful weapons in the hands of some Pro’s (i.e myself hehe,yeah dnt i deserve to be called 1?), but they all need Human Supervision, so buttom line’s that there’s no such word as Plug n Play(Auto Trading) bcoz if an event sneaks up and catches ur robot unaware well u knw wat……..
17. Finally the last but not the least, bcoz som pple r alredy telling me am giving out 2 much alredy, is that.
a. run away as fast as u can 4rm anything that promises so much(i.e%50-%100) serious apologies to any1 this might be affecting but, no disrespect lets see hw far u can go with that.
b.have a reasonable, little & realistic expectation 4rm tradn Forex monthly so as to avoid been wiped out.
c. Dnt stop learning or acquiring more knowledge about Forex Trading.
d. Have a mentor/some1 that knws more abt it than u do for help, at least som1 u can easily run 2 for assistance and will be “expirienced” & “blunt” enuff to tell u where u aired.
NW U MAY WONDER HOW I GOT TO KNW ALL THESE? SIMPLE! COZ AM A VETERAN I’V EXPIRIENCED AND GONE ALL AND EVEN MORE THATS LISTED HERE AND CAME OUT A BETTER AND STRONGER TRADER WHEN MOST OF MY FRIENDS THREW IN THE TOWEL, NW LOOK AT WHERE I AM 2DAY THANKS 2 GOD ALMIGHTY.
Pls if u fall into any of these categories listed above or u need help as regards ur forex trading pls dnt hesitate or fail to send us an email to forexridersinc@yahoo.com or call 07038056944 or visit our site at http://www.forexridersinc.com and we’ll be more than happy to help u out and solve ur forex problems the best way we can, bt until then stay blessed and happy trading. our motto: watch over the pennies and the dollar will take care of itself.
Jul 26th, 2008 at 4:19 pm
Hi. pls i want to know much about M LEVEL DAY (M1,M2,M3 and M4). although i know, they were part of indicators.but
i don’t understand them better. some says when close it’s higher than open is M1,m3.that is buy. And M2,M4 is when open higher than close that is Sale.
But i don,t understand it better. then how i am going to use it as part of indicator to market?
you can reach me on otosa@gmail.com
Jul 26th, 2008 at 10:19 pm
You can get an indicator that will give M1,M2,M3 on your chart everyday at earnforex.com just click at the pivot indicator.It is free but i will like to introduce 5emas fores trading system it’s real and simple.I also use these system to manage account for my clients.These is a way of giving back to the society because most successful traders in Nigeria don’t tell people they secret.The 5emas System is available for sales i also manage forex account of minimum of $2000 for now.You can call:08034413221 0r e-mail:bunmifx@gmail.com
Jul 28th, 2008 at 2:16 pm
Bunmi thank you very much, i got the message you sent to me on my handset. but you didn’t send me the price or you mean 120k?
Jul 28th, 2008 at 2:35 pm
Bunmi thank for replaination. But How to know if M1-M3,M2-M4 is it buy or sell? Thanks.
Jul 28th, 2008 at 4:17 pm
Bunmi, i got the site but i need the site that will give me on there platform. Do you know any one?
Jul 30th, 2008 at 5:44 pm
Forex is real there no doubt about that. My major concern for everyone is to take action, do something with forex, and make money. This is no longer news, there are terrible risk in forex, but some of us in the biz. is still making head way in the midst of the risk.
You must understand the concepts, strategy, and programming associated with forex before you launch your hard earned money into it.
Forex is not a magical thing, it is a business, see and accept it like that.
In your daily biz. there are moments of biz downside, understand that, you will not make profit every time in biz, once, you have that idea, you will make it big in forex.
Like today now, am presently transacting a biz between gbp/usd in the forex market, i have made just $1,250usd, and i have not close the trade.
Am not against any fx software but be very careful, I have an e-book on forex, just for free. I have another one which will cost you $100.
If you are not interested in trading, I can trade for you, open a live account with any forex broker of your choice, esspecailly alpari.uk. or any forex broker with meta trader4. Fund your acct with at least 2,000usd, expect 100% ROI-returns on investment on every 30working day.
My charges, you will pay 10% of your start up capital i.e $2,000 into my account e.g 200usd will be for me before the start of the deal.
Am very sure we shall be able to beat the 100% profit behind us and make more. Whatever I made beyond the 100% profit agreed on, shall be divided into two, you shall take half while the remaining half will be mine.
If you are ok, with the condition, pls e-mail me jobgeter.job@gmail.com or call 08032470050
Samuel
Jul 31st, 2008 at 4:40 pm
Dear sir,
from Last 6 months i come to know about forex currency trading. i can invest $10000 i n trading but i cant trade so i want fund manager for trading my funds in forex trading. If u give fixed return that is also help ful for me. please reply as soon as possible.
Aug 2nd, 2008 at 8:16 pm
karthikeyan,
I read your post/reply, and noticed you requested for the services of a “Fund Manager”. That’s why I responded to your post/reply.
Now before i proceed please I’ll strongly advice you apply serious caution when choosing or working with a Fund Manager. Why? That’s because most of these people just don’t have the required experience and professionalism required to “Manage Funds” or might be a scam.
For more info about our packages and consultancy, visit our website: http://www.forexridersinc.com email: forexridersinc@yahoo.com or call: 07038056944.
regards
Forex Riders Inc.
http://www.forexridersinc.com
forexridersinc@yahoo.com
07038056944.
Aug 3rd, 2008 at 12:27 am
Hi Guys,
Thanks for contribution on forex topic.Will appreciate if we can be including our location in our posting.
Mr Samuel Adedoyin,where do you base and for you to manage an account what monthly % can you Guaranty?
Aug 4th, 2008 at 12:25 pm
Dear Babs Edun,
thanks for your direct request, I based in Abeokuta, Ogun State, by God’s grace, I shall make 100% return on investment on monthly basis.
Thanks and God bless
Aug 4th, 2008 at 4:46 pm
It is interesting how Nigerians still refuse to pay attention to the issues raised in this article. One year after it was published the lessons are yet to be learned. I think I will do a follow-up on this post. Thanks for sharing your insight. I was once a victim of IGNORANCE.
Aug 5th, 2008 at 5:59 am
[...] Ajao did an unbiased post about Forex Trading about a year ago. The post Forex Trading In Nigeria: Your link to Fabulous Wealth? addressed some issues which any wise Nigerian investor will need to thouroughly consider before [...]
Aug 6th, 2008 at 12:34 am
I will appreciate it,if Samuel Adedoyin can display some of his statement of account also how many drown down has he experienced?.How long has he been trading?
I have a prove of my performance and forex is one business you keep
on learning every day 0ne year is not a enough.At least i buy forex e-book once in every two months and these had really help my trading decision.According to my Mentor Tom Flora of FT,James Chen of FXsol ,Avri Fisher of Forex Trading Machine forex, one year is not a enough to learn forex.I due recommend 5emas system because i am using it also have a means of getting it for interested client.I have several forex e-book e.g:Forex Trading Machine,Daily Limit,10 Minute forex wealth builder and many others.
Aug 6th, 2008 at 6:32 pm
DearBunmifx,
By the grace of God, I do not make noise on my trading ability, am a simple child of God, who strongly believes in quietness and simplicity in whatever i do. To window display all your wonderful requests on my trading ability personally is out of place.
I wont for the pleasure of satisfying you head against my etiques. And that is that.
People on this forum, let’s talk about other area where we can make easy money, about information marketing kits.
[Samuel, I deleted the rest of your post as it was just an ad. This platform is meant to share your view and not to post ads. Thanks. - Oluniyi]
Aug 6th, 2008 at 11:54 pm
Mr Samuel Adedoyin,You can’t use simplicity and quietness as an excuse not to tell the Truth.Most forex traders are lier.Displaying
your result won’t cost you a thing.I know in Forex you can make 1000% within a month also loss all your money within a week.But with proper money management in can remain the the market as long as you want.Most guys that organize forex seminar don’t trade life
account that why they can advice they client to use a whole size for a $1000.Professional trader can do that,by the grace of God I’m a professional and i have been into up and down of forex.These is one of my account and if you want more i will provide:
North Finance Co Ltd
Account: 48048 Name:Olubunmi Fasusi Currency: USD 2008 April 7, 00:23
Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
23463756 2008.03.20 00:28 balance Deposit 1 000.00
23463881 2008.03.20 00:32 sell 0.10 eurusd 1.5640 0.0000 1.5520 2008.03.20 10:09 1.5557 0.00 0.00 0.00 83.00
23464180 2008.03.20 00:43 sell 0.10 usdcad 1.0121 0.0000 1.0001 2008.03.20 10:36 1.0221 0.00 0.00 0.00 -97.84
23464259 2008.03.20 00:46 buy 0.10 usdchf 0.9977 0.0000 1.0076 2008.03.20 10:09 1.0042 0.00 0.00 0.00 64.73
23488183 2008.03.20 10:10 sell 0.50 eurusd 1.5560 0.0000 1.5536 2008.03.20 10:14 1.5552 0.00 0.00 0.00 40.00
23490412 2008.03.20 10:31 sell 0.50 gbpusd 1.9787 0.0000 1.9700 2008.03.20 10:44 1.9779 0.00 0.00 0.00 40.00
23491478 2008.03.20 10:46 buy 0.50 usdjpy 99.54 0.00 99.68 2008.03.20 11:03 99.63 0.00 0.00 0.00 45.17
23491506 2008.03.20 10:46 sell 0.10 gbpusd 1.9789 0.0000 1.9770 2008.03.20 11:03 1.9770 0.00 0.00 0.00 19.00
23494809 2008.03.20 11:28 sell 0.50 eurusd 1.5517 0.0000 1.5490 2008.03.20 11:39 1.5490 0.00 0.00 0.00 135.00
23495066 2008.03.20 11:29 sell 0.10 gbpusd 1.9749 0.0000 1.9700 2008.03.20 11:55 1.9744 0.00 0.00 0.00 5.00
23519170 2008.03.20 15:16 sell 0.50 gbpusd 1.9820 0.0000 1.9765 2008.03.20 16:41 1.9800 0.00 0.00 0.00 100.00
23528575 2008.03.20 17:04 sell 0.50 usdcad 1.0254 0.0000 1.0198 2008.03.20 23:21 1.0242 0.00 0.00 0.00 58.58
23529889 2008.03.20 17:20 sell 0.10 gbpusd 1.9786 0.0000 1.9740 2008.03.20 23:21 1.9870 0.00 0.00 0.00 -84.00
23552384 2008.03.21 00:34 buy 0.50 eurusd 1.5443 0.0000 1.5455 2008.03.21 01:08 1.5455 0.00 0.00 0.00 60.00
23564093 2008.03.21 08:43 sell 0.50 eurusd 1.5447 0.0000 1.5395 2008.03.23 23:01 1.5442 0.00 0.00 -2.45 25.00
23564126 2008.03.21 08:44 sell 0.10 gbpusd 1.9838 0.0000 0.0000 2008.03.21 08:53 1.9831 0.00 0.00 0.00 7.00
23564145 2008.03.21 08:44 sell 0.10 usdjpy 99.56 0.00 0.00 2008.03.23 23:01 99.49 0.00 0.00 -0.83 7.04
23564158 2008.03.21 08:44 sell 0.10 usdchf 1.0090 0.0000 0.0000 2008.03.21 09:25 1.0089 0.00 0.00 0.00 0.99
23588063 2008.03.23 23:10 buy 0.50 eurusd 1.5442 0.0000 1.5450 2008.03.25 03:58 1.5450 0.00 0.00 1.00 40.00
23588132 2008.03.23 23:14 buy 0.10 gbpusd 1.9821 0.0000 1.9936 2008.03.24 13:24 1.9844 0.00 0.00 0.00 23.00
23588196 2008.03.23 23:18 buy 0.10 usdjpy 99.38 0.00 99.85 2008.03.24 02:54 99.85 0.00 0.00 0.00 47.07
23600953 2008.03.24 07:38 buy 0.10 eurusd 1.5369 0.0000 1.5400 2008.03.24 10:37 1.5390 0.00 0.00 0.00 21.00
23607706 2008.03.24 10:38 buy 0.20 eurusd 1.5391 0.0000 1.5442 2008.03.24 12:15 1.5442 0.00 0.00 0.00 102.00
23615989 2008.03.24 13:26 buy 0.20 gbpusd 1.9846 0.0000 1.9896 2008.03.24 18:39 1.9851 0.00 0.00 0.00 10.00
23639242 2008.03.24 19:07 buy 0.20 eurusd 1.5428 0.0000 1.5456 2008.03.24 23:38 1.5428 0.00 0.00 0.00 0.00
23642053 2008.03.24 20:24 sell 0.20 usdjpy 100.74 0.00 100.00 2008.03.24 23:38 100.69 0.00 0.00 0.00 9.93
23648477 2008.03.25 00:08 sell 0.50 usdjpy 100.56 0.00 100.20 2008.03.25 05:21 100.20 0.00 0.00 0.00 179.64
23669736 2008.03.25 08:20 sell 0.50 usdjpy 100.19 0.00 99.86 2008.03.25 16:00 99.86 0.00 0.00 0.00 165.28
23669961 2008.03.25 08:24 sell 0.20 usdchf 1.0122 0.0000 1.0068 2008.03.25 22:38 1.0068 0.00 0.00 0.00 107.27
23670227 2008.03.25 08:28 buy 0.20 eurusd 1.5562 0.0000 1.5590 2008.03.25 13:16 1.5590 0.00 0.00 0.00 56.00
23670692 2008.03.25 08:37 sell 0.20 gbpusd 1.9921 0.0000 1.9870 2008.03.25 08:44 1.9933 0.00 0.00 0.00 -24.00
23670971 2008.03.25 08:44 buy 0.20 gbpusd 1.9934 0.0000 1.9957 2008.03.25 10:20 1.9934 0.00 0.00 0.00 0.00
23671748 2008.03.25 09:01 sell 0.10 gbpusd 1.9923 0.0000 1.9900 2008.03.25 10:45 1.9918 0.00 0.00 0.00 5.00
23678361 2008.03.25 10:50 sell 0.20 gbpusd 1.9917 0.0000 1.9856 2008.03.28 16:18 1.9966 0.00 0.00 -13.90 -98.00
23724304 2008.03.26 00:12 sell 1.00 usdjpy 99.86 0.00 98.80 2008.03.26 11:27 99.68 0.00 0.00 0.00 180.58
23764489 2008.03.26 13:25 sell 0.50 gbpjpy 198.42 0.00 198.00 2008.03.26 13:51 198.00 0.00 0.00 0.00 211.82
23827612 2008.03.27 07:07 sell 0.50 eurjpy 156.26 0.00 156.10 2008.03.28 23:42 156.81 0.00 0.00 -7.57 -277.30
23832856 2008.03.27 08:49 sell 0.10 usdjpy 99.14 0.00 97.70 2008.03.27 09:12 99.16 0.00 0.00 0.00 -2.02
23848999 2008.03.27 11:11 buy 0.50 usdjpy 99.70 0.00 100.20 2008.03.27 14:36 99.87 0.00 0.00 0.00 85.11
23868099 2008.03.27 14:37 sell 0.10 usdjpy 99.87 0.00 99.46 2008.03.27 15:08 99.86 0.00 0.00 0.00 1.00
23965100 2008.03.28 16:05 buy 0.10 usdcad 1.0172 0.0000 1.0210 2008.03.28 18:42 1.0196 0.00 0.00 0.00 23.54
23966411 2008.03.28 16:20 buy 0.50 eurusd 1.5772 0.0000 1.5830 2008.03.28 16:59 1.5776 0.00 0.00 0.00 20.00
23971231 2008.03.28 17:07 sell 1.00 usdjpy 99.46 0.00 98.73 2008.03.28 23:41 99.17 0.00 0.00 0.00 292.43
23971466 2008.03.28 17:10 sell 0.10 eurjpy 156.95 0.00 156.19 2008.03.28 18:44 156.93 0.00 0.00 0.00 2.01
23979612 2008.03.28 18:46 sell 0.30 usdjpy 99.58 0.00 99.41 2008.03.28 18:52 99.55 0.00 0.00 0.00 9.04
23980076 2008.03.28 18:52 sell 0.40 usdjpy 99.53 0.00 99.39 2008.03.28 20:41 99.39 0.00 0.00 0.00 56.34
23995602 2008.03.31 01:46 sell stop 0.40 eurusd 1.5738 0.0000 1.5660 2008.03.31 17:03 1.5844 cancelled
23995679 2008.03.31 01:48 sell stop 0.40 gbpusd 1.9773 0.0000 1.9749 2008.03.31 09:51 1.9866 cancelled
23995783 2008.03.31 02:54 buy 0.40 usdjpy 99.28 0.00 99.90 2008.03.31 03:53 99.90 0.00 0.00 0.00 248.23
23995828 2008.03.31 02:01 buy 1.00 usdchf 0.9958 0.0000 1.0121 2008.03.31 10:16 0.9964 0.00 0.00 0.00 60.22
24013549 2008.03.31 09:52 sell 1.00 gbpusd 1.9864 0.0000 1.9800 2008.03.31 10:17 1.9862 0.00 0.00 0.00 20.00
24017298 2008.03.31 10:42 buy 2.00 usdchf 0.9946 0.0000 1.0075 2008.03.31 14:41 0.9949 0.00 0.00 0.00 60.31
24019274 2008.03.31 11:03 sell 0.50 usdchf 0.9932 0.0000 0.9910 2008.03.31 17:03 0.9917 0.00 0.00 0.00 75.63
24036136 2008.03.31 14:47 sell 1.00 eurusd 1.5802 0.0000 1.5775 2008.03.31 15:35 1.5808 0.00 0.00 0.00 -60.00
24038461 2008.03.31 15:16 sell 0.50 usdjpy 99.50 0.00 99.00 2008.03.31 15:35 99.40 0.00 0.00 0.00 50.30
24040223 2008.03.31 15:36 sell 1.00 usdjpy 99.39 0.00 98.98 2008.03.31 15:40 99.37 0.00 0.00 0.00 20.13
24040617 2008.03.31 15:40 sell 2.00 usdjpy 99.34 0.00 99.00 2008.03.31 17:03 99.31 0.00 0.00 0.00 60.42
24048994 2008.03.31 17:09 buy 2.00 eurusd 1.5836 0.0000 1.5880 2008.03.31 17:18 1.5862 0.00 0.00 0.00 520.00
24090548 2008.04.01 08:22 sell 2.00 eurusd 1.5742 0.0000 1.5600 2008.04.01 08:41 1.5730 0.00 0.00 0.00 240.00
24091434 2008.04.01 08:35 buy 0.60 usdchf 0.9968 0.0000 1.0121 2008.04.01 08:42 0.9978 0.00 0.00 0.00 60.13
24092125 2008.04.01 08:42 sell 2.00 eurusd 1.5728 0.0000 1.5600 2008.04.01 09:26 1.5685 0.00 0.00 0.00 860.00
24092791 2008.04.01 08:54 buy 0.50 usdjpy 99.73 0.00 100.10 2008.04.01 09:26 100.00 0.00 0.00 0.00 135.00
24097285 2008.04.01 09:38 buy 4.00 usdjpy 99.90 0.00 100.10 2008.04.01 10:28 100.10 0.00 0.00 0.00 799.20
24099391 2008.04.01 10:02 buy 0.50 gbpchf 1.9803 0.0000 1.9870 2008.04.01 12:36 1.9870 0.00 0.00 0.00 333.14
24115051 2008.04.01 13:11 sell 3.00 eurusd 1.5628 0.0000 1.5613 2008.04.01 15:56 1.5613 0.00 0.00 0.00 450.00
24120648 2008.04.01 14:22 sell 0.30 gbpusd 1.9837 0.0000 1.9800 2008.04.01 14:34 1.9832 0.00 0.00 0.00 15.00
24140382 2008.04.01 17:53 sell 3.00 usdjpy 101.78 0.00 101.00 2008.04.01 18:44 101.75 0.00 0.00 0.00 88.45
24178764 2008.04.02 11:08 sell 3.00 usdjpy 101.92 0.00 100.93 2008.04.02 12:37 101.88 0.00 0.00 0.00 117.79
24224623 2008.04.02 22:01 sell 3.00 usdjpy 102.33 0.00 102.05 2008.04.02 22:05 102.30 0.00 0.00 0.00 87.98
24225807 2008.04.02 22:14 sell 3.00 usdjpy 102.28 0.00 101.60 2008.04.04 00:11 102.29 0.00 0.00 -97.33 -29.33
24331411 2008.04.04 09:34 buy 3.00 eurusd 1.5669 0.0000 1.5715 2008.04.04 10:44 1.5704 0.00 0.00 0.00 1 050.00
24349754 2008.04.04 14:54 sell 3.00 usdchf 1.0089 0.0000 1.0039 2008.04.04 15:34 1.0039 0.00 0.00 0.00 1 494.17
24350251 2008.04.04 15:03 sell 2.00 usdjpy 102.25 0.00 101.90 2008.04.04 15:30 101.90 0.00 0.00 0.00 686.95
24356959 2008.04.04 15:43 sell 3.00 usdjpy 102.59 0.00 0.00 2008.04.04 15:45 102.36 0.00 0.00 0.00 674.09
24357405 2008.04.04 15:45 sell 2.00 usdjpy 102.36 0.00 102.00 2008.04.04 16:10 102.23 0.00 0.00 0.00 254.33
24364754 2008.04.04 16:42 buy 2.00 gbpusd 1.9980 1.9936 2.0024 2008.04.07 00:22 1.9945 0.00 0.00 13.00 -700.00
24384596 2008.04.04 21:34 buy 2.00 eurusd 1.5727 0.0000 1.5750 2008.04.07 00:17 1.5734 0.00 0.00 4.00 140.00
24390309 2008.04.07 00:19 buy 0.10 eurusd 1.5737 1.5722 1.5757 2008.04.07 00:19 1.5731 0.00 0.00 0.00 -6.00
24390336 2008.04.07 00:20 buy 0.10 eurusd 1.5733 1.5718 1.5753 2008.04.07 00:22 1.5725 0.00 0.00 0.00 -8.00
0.00 0.00 -104.08 9 553.55
Closed P/L: 9 449.47
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
24390372 2008.04.07 00:22 buy 0.20 eurusd 1.5731 1.5716 1.5751 1.5725 0.00 0.00 0.00 -12.00
0.00 0.00 0.00 -12.00
Floating P/L: -12.00
Working Orders:
Ticket Open Time Type Size Item Price S / L T / P Market Price
No transactions
Summary:
Deposit/Withdrawal: 1 000.00 Credit Facility: 0.00
Closed Trade P/L: 9 449.47 Floating P/L: -12.00 Margin: 314.62
Balance: 10 449.47 Equity: 10 437.47 Free Margin: 10 122.85
Details:
Gross Profit: 10 941.76 Gross Loss: 1 492.29 Total Net Profit: 9 449.47
Profit Factor: 7.33 Expected Payoff: 124.34
Absolute Drawdown: 0.00 Maximal Drawdown: 701.00 (6.29%) Relative Drawdown: 9.44% (284.87)
Total Trades: 76 Short Positions (won %): 48 (83.33%) Long Positions (won %): 28 (89.29%)
Profit Trades (% of total): 65 (85.53%) Loss trades (% of total): 11 (14.47%)
Largest profit trade: 1 494.17 loss trade: -687.00
Average profit trade: 168.33 loss trade: -135.66
Maximum consecutive wins ($): 16 (3 913.17) consecutive losses ($): 3 (-701.00)
Maximal consecutive profit (count): 4 303.54 (6) consecutive loss (count): -701.00 (3)
Average consecutive wins: 7 consecutive losses: 1
I also provide signal service an average of four pair per day with good money management.For more inquiries call:7027704563
Aug 8th, 2008 at 1:59 am
The challenge young business minds have is that of focus. As a young entrepreneur, you want to do all the business advertised to you. It’s not like that. Every Nigerians can’t become a forex trader or investor. What will happen to your expansion program? Or you want to forget about the present business for now? That’s too risky and unintelligent. No wonder, the statistics that 90% of small businesses back-out after every 3 to 5yrs.
Pls, i will advise that Nigerians learn the lesson of persistence or stick-to-it-iveness until they see results. Mind your business. Every other opportunity is a distraction.
Thank you!
Aug 8th, 2008 at 9:37 am
Free Guide to open a clickbank acct
Dear Internet Millionaire,
Today, i bring to you yet another free report that explains in an easy step by step format, how to get a clickbank account. But before i begin, i’m sure you’l be wondering why i’m giving you all this particular information for free; the information i’m about to share with you cost me …
[Samuel, I deleted the rest of your post as it was just an ad. This platform is meant to share your view and not to post ads. This is a final warning. I will delete ALL your posts and tag you a spammer if this repeats itself. Thanks. - Oluniyi]
Aug 12th, 2008 at 4:48 pm
Hello guys,
U guys re really doing a great work here, I must confess. It’s a year and exactly a month this week that I started forex. To Tell you the truth guys, succedding in trading depends on so many things!
I have blown up several of my money over and over again, but the joy of some set of profitable trades I made when i started out kept me on then and i continue to research, reading and seriously searching. IN FACT, THAT TIME, GOOGLE MUST KNOW THAT THERE IS A GUY REALLY LOOKING FOR INFO ON FOREX FROM NAIJA! U may not believe this, there re some pple in this our small world that never loose a single trade! if they will have to loose, it will be like lossing a trade or 2 out of about 30-40 trades placed. And i didnt stop until i was able to get one of those guys.
In forex, if you re the impatient type, u re already a looser, and thatz if you re a swing trader. And if you want to be a scalper and u re slow or sluggish, u re also in trouble as well.
Whether u will make money in your first set of trades depend majorly on the trainner that trained you.
Several things will turn you to a success if you want to depend solely on yourself, one of it is reading, you must be able to lay your hands on books wriiten by some of those gurus. I bought several of them, read and read and read, so it helps.
2. Dont risk more than 3-5% of your account in a single trade! its easier said than done. When i started out, my first life account was just $630 or so, and guess the lot I was using? 1 standard full lot! Mennnn… thatz sucidal, and in the first day, i made 300$ on it, but gess wot, i lost all the account everything withing 3 weeks! thatz it! Money management Makes you U last!
forex is easy after you have learnt alot of things! I mean it will become an ATM machine stuff, but before you reach that level, u must have burn some good amounts if you re not starting out with a professional.
right now, guys shld keep there eyes on the oil prices and gold, wherever they go, EURUSD follows,where ever Euro goes, Pounds followe, and wherever this guys goes, USDJPY and USDCHF do complet opposite 90% of the time! thatz one of the secret!. I advise you to get use to GBPUSD, EURUSD, |EURJPY, i love those guys! GBPJPY is a crazy beast, so dont start out with that guy!
if its ready to give u the money its gonna give it to you big time, and if its gonna mess with you, then u re in trouble if stops is not in nice place!
I hope this help a bit, and if i have some other time to spare, i shld come back later. but in case u have any questions about this, my email is jayeoba01@yahoo.com
Take care guys.
Kola Jayeoba.
Aug 15th, 2008 at 5:39 pm
Please I need to know from you as regards investing in FOREX.
Thanks
Aug 19th, 2008 at 12:50 am
You can login:www.babypip.com,earnforex.com,these are the once i remember now.You can call me for more information:07027704563