I welcome my readers back to this column. The topic above speaks of the risks being peddled about forex, but I have some reasons to allay your fears.
In Nigeria, the hype and awareness about forex trading came in 2006. You will agree with me that we lacked experienced traders and trainers then to guide prospective traders to success. There was no emphasis on risk management and profit management aspects of forex trading, thus, those who ventured into the trade lost so much money.
Over 12 years after, the story has changed for good. Hence, the points below should rekindle your interest and ultimate investment or career interest in online forex trading.
For traders’ confidence, I have stated below the developments over the years. First is the issue of brokers. Back then, no broker had an office in Nigeria. As of today, there are several of them on ground, which include:
Uniglobemarkets – www.uniglobemarkets .com
Instanforex – www.instanfxng.com
Forextime – www.forextime.com
The good news is that many have raised the awareness level and have imparted so much in training and technical knowledge of the market. Some years ago, training was very expensive and not even articulate. Most were hogwash one-day seminar.
Today, many are providing training almost, if not, free and are painstakingly guiding and guarding trainees in the market. Many have opened trading training academies all over the country.
In addition, they have provided employment to the populace and invested in our country. The advantage of funding in local currency, and even trading in local currency, is a plus. Gone are the days of compulsory domiciliary accounts and funding in foreign currency. It is now possible to credit deposits and issue withdrawals the same day as opposed to 72 hours, or more, then.
Secondly, most brokers provide continuous training and forums, either physically or online (webinar), to traders. Daily market analyses are given to traders to assist them in making decisions in trade. Entry levels for deposits have also been reduced to accommodate the economic reality. A trader can begin now with as little as $100 or the naira equivalent as opposed to about $1000 in hard currency, which was the case 12 years ago.
Technology has improved too. Only laptop and desktop computers could be used for trading then. Mobile trading on smartphones and tablets are now for traders and has made it easy for all comers. Internet access, the various networks and their speed have greatly improved for trading benefit.
Many innovations, such as copy trade from top traders to ensure better profitability, currently trend in the market. Trading techniques and strategies are ubiquitous and available for prospective traders, though at a cost, but it portends opportunities in the market.
Career opportunities have blossomed for trainers, traders, partners, representatives, consultants, analysts, marketers and sales personnel, operation personnel, signal service providers, and a couple of others. I must say here that I recently had the opportunity of recruiting for a local broker, Uniglobemarkets that is well interested in being entrenched in the Nigerian market.
My weekly profitable analysis is back for your consumption. Take a bold step today to be your own boss. Work from home or trade while you are on the move. Open your trading account with the brokers listed above and get quality training from them or the one in your locality.
The profitable days are here. Grab the opportunity and do not be left out. Should you need any further assistance, kindly reach me on my contact details as stated below:
Market ANALYSIS FOR THE WEEK – JULY 9-14, 2018 – (Entries and TP are at trader’s discretion. Money management is strictly advised. Liability is on the part of the trader, as this signal does not constitute an investment advice.)
GBPUSD (UPTREND): [email protected] 1ST: 1.3390; TP 2ND; 1.3445
GBPCHF (UPTREND): [email protected] 1ST: 1.3243; TP 2ND; 1.3265
AUDUSD (UPTREND): [email protected] TP 1ST: 0.7500; TP 2ND; 0.7565
For further enquiries on your training and other services, call 08039391041 or e-mail: [email protected] Or visit our office at 2nd Floor, 67 Obafemi Awolowo Way, Ikeja, Lagos.
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