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The Growth of Forex Trading in Nigeria; Common Risks, Gains and Misconceptions

Lately, forex has come to be the only investment vehicle which comes to mind when considering various investments options. Forex in Nigeria, however, has evolved over the years and with the emergence of trading firms, service dynamism, availability of training programs etc., we understand how enticing it will be for one to want to join the foray but before you do, we would like you to know these common risks, misconceptions and gains.

Misconceptions:

  1. Risking too much increases your chances of winning: No!!! It purely screams poor money management and reduces your chances as a trader.
  2. Be very smart: the most successful traders keep their trading simple. They don’t analyze all day and research market trends all night.
  3. Buying more shares as the price drops: this is hardly effective and it’s like throwing the child away with the water.
  4. I have lost twice, I’m likely to win the next trade: this is a lie! Having had losses doesn’t mean you are due for a win.

Risks:

  1. Emotional trading: do not trade when you are bored, upset or unsure. Emotions are a very poor foundation for trading.
  2. No strategy: A strategy is your map and without it, you may become one of the 90% off traders who lose their money. See example of a good strategy provided by an industry professional EGM’s Chief market analyst.
  3. Trading for the wrong reason: sometimes there will be no trade to make and that’s okay. Do not panic!

Gains:

  1. The market is very liquid and its potential is in the volatility, not its tranquility.
  2. You can make profits during up trends and downtrends.
  3. There are no commission rates or exchange terms when you choose to hire a broker.
  4. The market is open 24 hours a day, unlike regular stock markets.

 

EGM offers you a trading platform where you can trade over Forex, Indices , Equities and Commodities from global markets, and earn passive income daily.

We offer;

 FREE TRADING ACCOUNTS

 FREE WEEKLY WEBINAR TRANING

 FREE WEEKLY TRAINING

 FREE WEEKEND TRAINING

 TRADE IN NAIRA

Open Free Trading account today https://lnkd.in/gjnwQMz

 Call: 09082908872

Email: support@eagleglobalmarkets.com

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