Topic: How can you make profit in forex (Read 116 times)

To make am for forex you need knowledge ooh, and one of the things way you go do na to remove the mindset of getting reach overnight because plenty people join forex trading with a goal to become reach overnight forget what they need to about forex before trading and at last they blown there account, so beginners learning the market structure and other technical analysis is very important, and also don't use a bot trading because it can mess up your account before you realize yourself so the best way is learning and trading it yourself.

Well to be honest, to make profit in business entirely or forex you need to understand the various techniques that will guide you in trading because without knowing the techniques in trading you might in cure losses so it is advisable to seek the right knowledge from expert who have been in the business for a long time and have experience of how making profit in business works before they can venture in any form of trading.

As I been see this topic. The first thing that came into my mind na greed. Greediness for life dey cause plenty pitfalls whether na forex investment o abi any other type of investment, applying greed to any business model or investment plan will only makw it look ambitious from the beginning but will be prone to failure at the long run. This is why as a trader or investor, you must identify your stop loss and take decisions when you find them deem fit. Also, don't be dependent on procrastinating when to leave an investment, especially when you have the knowledge on the ups and downs of the market trend. Due to the volatility nature of the forex markets, one must be ready to accept failures regardless of your experience.


Do not enter the market with what you cannot afford to lose, should be a catchphrase if I'm to suggest. Before you go into any investments as a forex trader, ensure you start little cutting down your high expectations in your profit margins. Expectations do hurt indeed.

The pitfalls are enormous. However, one of the best ways you can mitigate these errors and mistakes is through connecting, networking and make friends with other forex traders in the market. If you try build strong relationship with other successful forex traders, that one go teach you on the trading disciple you need. Particularly in terms of risk and money management in the forex trade.

The complexity of forex trading is very high, you should have it in mind that the possibility of losing out all your funds are likely very high, and the chance of making huge money from it is also high but only if you are more knowledgeable enough to withstand the market structures, so for you to succeed on forex trading you need to gather as many knowledge as you can, perhaps there are school that offers forex trading, you can as well enroll to be educated on what you needs to no about forex before venturing into, you can also watch some forex videos on YouTube to learn the fundamental and technical analysis that would guide you on your FX journey. So after acquiring those knowledge perhaps you can now start making money from the Forex trading.

In forex trading, it is not guaranteed that you will make profits all the time but you don't need to rush and start trading without knowing the right technique to use in the topics being discussed and you need to make use of that are visible by either drawings, painting or any skill or imagination that is being used.

And again you need to find out the time intervals being used in buying and selling of (CFDs), that is the contract of differences. CFDs are very hard and difficult to achieve and it might not be too good for customers that want to buy and resell coins. CFDs are hard devices and it has a very big risk of losing money on several occasions because of the money that is been borrowed to buy and resell.

Forex is one of the skills if acquired you are set for life.
But mind you it's not a get rich quick scheme, na gradual process the thing be. The more you practice the better you become make you put effort and be dedicated.
Plenty things are involved to be profitable and they are as follows:
Do away with your emotions because too much of it go allow you go out of your trading plan and e better to trade what you have planned.
Psychology they too and not paying attention to the return (risk reward). They always talk about risk appetite which is risk wetin you fit loose. Forex is very easy only if you understand how it works and at the same time not for the weak because e go make you weaker.

My brother no be lie wey u talk for here oo, greediness na one thing wey dey make many forex trader dey loss well well, because instead of them to place their take profit for were get high chances of actually taking profit(just small higher than the candlestick) them go make the distance very high from the candlestick, I nor no weda dem dey plan to buy private jet with just one trade.

Another one na their lot price, some people dey do just $50 trading and dem go set their lot price for 1,1.5,2,2.5 and so on, but dem dey forget say if the trade go beyond their prediction wey dem nor quick see all their money don go and dem go con talk say forex trading na bad thing, na all those kind people dey spoil the name of FX, dem dey forget say before u start anything you go first learn and study about that thing, normally for professional trading:
$50 for trading amount the highest risk of lot price wey u fit take na 0.10.
$100 lot price highest risk suppose be 0.20.
$200 lot price for high risk suppose be 0.40
$500 lot price for high risk suppose be 1.00
And so on but some people go go take unprofessional risk wey go make dem regret of trading at the first place.

The one wey come pain me pass na those wey never get reasonable amount of knowledge about forex wey con enter inside and the worse thing na be say dem go con go subscribe for one telegram channel wey go dey supply dem signals and dem go still dey loss their trade. Majority of telegram signal channel owners na people wey subscribe one channel wey subscribe to another channel wey subscribe to another channel.... So if one person bring out fake signal many forex traders go loose wella, normally those signal channels nor go fit guarantee ur success forever because dem go fail u well well. Some traders sef nor even sabi set stop loss and take profit.

The surest way wen i think say person fit make some reasonable amount of profit na wen the person learn well before e enter into the forex trading. I nor be forex trader oo but I don do many study about forex because at a time in my life I been dey consider am as watin I fit do to get money but till tomorrow I go still pick investment over forex trading.

Making profit in forex is not an easy task, but with the right knowledge, skill and discipline, all that can be achieved within a matter of time. Because the story about "Habby Forex" a 23yrs old Nigerian forex trader should be a motivation to everyone out there that forex trading is real and possible, but only if you could sacrifice your time to learn the basic which requires time and consistency.
However, there are several factors that will determine if you will make profit from forex or not, such as your ability of choosing a reputable broker matters a lot from saving you falling victims to scam. Secondly, trading with an amount you can always been afford to lose is one guide a trader needs apply why trading to enable him or her avoid loses.

First of all, in order to make profit in forex you don't have or need to be greed. What did I mean by greed? Greed is when you entered the market without setting your stop loss, because you feel the market is going to move in your favor.
One thing to note is, don't enter market with what you can not afford to loose. Every trader wants to make higher profit but a successful trader don't target much, he takes it gradually till he achieve enough capital. There are some basic skills a forex trader need to have such as technical analysis, fundamental analysis etc. A forex trader should learn the candlesticks I.e what they signifies.
However, forex is a game of loss and profit, so whenever you chest loss do not be discourage because some times if you don't make loss you can't learn