05/07/ · The success story of a nigerian forex traders benjamin ajimoko. He was neglected and totally abandoned by all. But because of the success story of his publication and ministry, they are coming after him now.”Before the publication began, Dr Chris was having it rough in all areas of his life 24/07/ · Meet One Of Nigeria’s Most Successful Forex Traders, Patrick Ogagbor By Daniel Essiet, The Nation Ex Zenith Banker Patrick Ogagbor, quit his job to become a full time professional Forex trader. Today, he is happy he made the decision- DANIEL ESSIET blogger.comted Reading Time: 9 mins 07/10/ · Ultimately, he was able to make hundreds of thousands of dollars. His massive success made it possible for him to be able to retire at the young age of 28, and join the list of top Forex traders in Nigeria and subsequently in the world. Like many others who Estimated Reading Time: 8 mins
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I decided to react to this publication although it has been a while since the story was published due to some recent events. Someone recently drew my attention to this article insisting that there are no successful forex traders in Nigeria.
I sent him my real time results see link below as proof that there are consistent traders but I am not sure what his criteria for successful trading means :.
I sent the performance to douse his curiosity especially because my name was mentioned in the article - Chinedu Onuoha. I am very certain that a lot of people also share this idea that there are no successful forex traders in Nigeria. I have worked with 4 forex brokers and I can categorically tell you that there are quite a hand full of consistent forex traders in Nigeria. It is very sad that majority of the people that get involved in the forex business end up losing their money but I will explain the major reasons why this happens below:.
Leverage and Margin - Trading on margin seems like a fast way to make quick profit however, this gives birth to greed as a result of margin abuse. Research has shown that high leverage contributes largely to the number of capital losses prevalent with margin trading. Without margin, trading forex and cfds will be like every other business.
It is therefore not surprising that CFTC commodities and futures trading commission of the US made it compulsory for all brokers in the US to offer a maximum leverage of Statistics has shown that since the CFTC rule was enacted inmore retail traders within that jurisdiction are now profitable. A proper understanding of leverage and margin is very important if any trader is to be successful in the business for the long term.
Half baked education- This is another major mistake many traders make. When a trader is trained by someone who cannot hold an account for more than 3 months consistently, you don't expect the trader to be consistent. You cannot learn how to drive in a driving school where the teacher cannot drive. Next time you want to learn any business, please make sure you approach someone with a proven track record in the business.
Many forex trainers do not have performance history of even 3 months. Forget all the sweet talk, proof is everything. Pressure - In my over 12 years trading career, I have seen very good traders who lost all their money over and over as a result of pressure from bills. If you put the weight of your bills on your small trading account, it is bound to crash.
They have large funds and its almost effortless. Forex trading is not a get rich quick scheme so quit the gambling if you must be consistent. I the success story of a nigerian forex traders my job as a general manager of a forex brokerage firm to go into full time forex trading, the success story of a nigerian forex traders, forex account management and coaching.
I would not do that if I was not convinced that this industry is very profitable. To view or add a comment, sign in To view or add a comment, sign in, the success story of a nigerian forex traders.
This story was published the success story of a nigerian forex traders the Nation. It is very sad that majority of the people that get involved in the forex business end up losing their money but I will explain the major reasons why this happens below: 1. My personal slogan is "Slow is smooth and smooth is fast". The fastest way to success is slowly. By Chinedu Onuoha profedu gmail. Like Comment Share, the success story of a nigerian forex traders.
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24/07/ · Meet One Of Nigeria’s Most Successful Forex Traders, Patrick Ogagbor By Daniel Essiet, The Nation Ex Zenith Banker Patrick Ogagbor, quit his job to become a full time professional Forex trader. Today, he is happy he made the decision- DANIEL ESSIET blogger.comted Reading Time: 9 mins 07/10/ · Ultimately, he was able to make hundreds of thousands of dollars. His massive success made it possible for him to be able to retire at the young age of 28, and join the list of top Forex traders in Nigeria and subsequently in the world. Like many others who Estimated Reading Time: 8 mins 05/07/ · The success story of a nigerian forex traders benjamin ajimoko. He was neglected and totally abandoned by all. But because of the success story of his publication and ministry, they are coming after him now.”Before the publication began, Dr Chris was having it rough in all areas of his life
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