forex trading
forex trading |
- Take a Look At the List of Successful Forex Traders in Nigeria - Forex News Now
- Forex trading – what are the best currencies to trade? - Capital.com
- Singapore Exchange buys 20 percent stake in forex trading platform for $25 million - Reuters
- Forex Trading: NZDUSD Technical Analysis - March 28, 2019 - FXDailyReport.com
| Take a Look At the List of Successful Forex Traders in Nigeria - Forex News Now Posted: 27 Mar 2019 02:01 AM PDT Nowadays everyone wants to become a successful Forex trader in the shortest period of time, but literally, no one wants to work hard to get to a high level of expertise. Surprisingly, Nigeria, locating in the western part of Africa is among the countries, which are famous for having some of the youngest FX traders. Majority of you may not believe that they're making thousands of dollars in profits, without even leaving the homeland. Here are the most successful Nigerian Forex traders:
We're sure many of you are interested in learning more about their past, helping you find the right direction. Don't get us wrong, imitating the exact methodologies of the richest Nigerian Forex traders will not benefit you by any means. Sometimes capturing the right opportunity, such as registering the trading accounts on XM and IQ Option can positively influence the career leader of yours. No one knows who will appear next onto the list of successful FX traders in Nigeria. It's high time to mention some of the FX experts, that are indeed making a real fortune by just executing hundreds of trades a day. Grab a piece of paper to take some notes, find a comfortable place to enjoy the article, helping you give enough motivation to get things started. Mr Uche ParaGonLet me introduce you to the young entrepreneur who has successfully managed to trade currency pairs and commodities in the early beginnings of his career, leading to becoming one of the best Nigerian Forex traders. Surprisingly, one of the leading trading platforms, that we've mentioned earlier was having a summer campaign, offering percentage-based bonuses onto any amount of deposit.  Paragon was surfing hundreds of articles onto the web for the purpose of learning about the ways of making money and the above-described offer caught his attention in a matter of seconds. He registered the trading account and everything changed since that day. However, it took him several months to gain mandatory knowledge related to Forex. After familiarizing himself with some advanced methodologies, Mr Uche started trading currency pairs straight away with great success. Additionally, some of the best Nigerian FX traders decided to get in touch with the young trader to capitalize on upcoming talent. However, he refused to partner with local individuals and continued placing orders remotely. According to one of the interviews, published by leading Africa-based publication, Paragon made a real fortune after starting to trade crude oil, surely that move was a game changer for the young entrepreneur. Having the capability of putting orders on the major energy source provider to the hundreds of countries worldwide, accelerated the growth of his career. As a matter of fact, Mr Uche ParaGon spends the majority of his time trading on the Forex market. However, he did mention that songwriting, as well as singing, were among the hobbies. Basically, it's the perfect example of how even one opportunity can change entire carer of yours. The only thing that you have to do is to continue pursuing your dream of becoming the best by doing the actual hard work. Sandile SheziGrowing in poverty with his grandmother, having no education and competing against the life one and only didn't stop Sandile Shezi from becoming the best trader of the country, earning millions of dollars at the age of 23. Joining the trading platform was the first right decision, leading to founding multiple rapidly growing companies, based on the territories of Africa. Nevertheless, beginning the journey of becoming the youngest FX trader in Nigeria was not the easiest thing to do. He had to borrow one-year tuition fee, intended for learning in university to enter the market. Buying and later on selling the stocks, alongside with currencies made Sandile some nice profits, but not taking the business decision seriously negatively affected the career growth of the young trader. We should mention the fact that he had no background in economics, as well as investing in learning all kinds of Forex terminologies, trading methods and risk management systems were impossible for him. That was the reason why Shezi decided to gather all the resources available for free on the internet to sink in the right data. After spending multiple months in studying the ins and outs of the FX market, he placed the first order, giving the unexpected amount of profits back.  Having a chance of working with the most successful Nigerian Forex traders didn't fascinate him by any means. Probably, he could make millions of dollars while choosing the right broker, but Sandile Shezi decided to establish the consulting company called Global Forex Institute to help thousands of entrepreneurs by giving them the knowledge along with some guidance to succeed in the FX market. As a matter of fact, the above-described Nigerian Forex trader success gave hope to the higher percentage of the population to create some sort of stable income. Unfortunately, no one imagined being involved in international markets, especially the citizens of Africa. However, the so-called beginner's classes, crafted by the young multi-millionaire of Nigeria gave everyone the opportunity of finding happiness in terms of making enough money to support a family and daily needs of life. The words of wisdom, that needs to be shared among the inexperienced traders: "There's no need of pursuing the money. Everyone especially the Forex traders should enjoy the process itself. That's the only way of having a successful career" – Sandile Shezi. AfioluwaThe story of Afioluwa surely is the most unique one. Everything started when he was invited to the local conference, uniting the business-oriented individuals of the country. At first, he didn't want to go to the event. However, the wish of investing a huge amount of capital made Afioluwa join hundreds of entrepreneurs. After a networking event, he started partnering with various top Nigerian Forex traders. However, placing the first order onto the marketplace was not successful at all. On the contrary, he lost thousands of dollars with no returns, whatsoever.  The so-called young entrepreneur, specializing in trading niche did not give up and continued the journey of finding the right trading strategy. Spending hours of time to experiment with the methodology helped him find the method, that earned Afioluwa six figures in profits per month for the period of a year. One of the reasons why we're fascinated with the previously described story is that facing the challenges every time while being onto the journey didn't stop him. On the contrary, it encouraged the trader to find the right ways of solving the problem. As far as we know, Afioluwa is not actively trading on the Forex market because of investing capital into various long-term oriented stocks, helping him retire at the age of 28. Mrs EzeakoHave you ever heard of Lite Forex? Actually, it is one of the Nigerian FX brokers on the existing market, offering minimal spreads to millions of customers. It was the first company Mrs Ezeako started to work with, in the early years of trading. We should mention the fact that she was doing a full-time job while learning the FX market. It took her quite a long time to get to the advanced level but after gaining the mandatory knowledge along with experience, Ezeako targeted the major currency pairs for capitalizing on possible profits.  Fortunately, she had enough luck to get the investment back, plus the profits to fund the on-going journey of becoming the first successful woman in the financial niche. From time to time, Ezeako attended various Forex-related conferences and events, leading to understanding behaviours of the FX market. The success story continued, she registered on tens of trading platforms to claim the bonuses, minimizing the chances of facing financial loss. Surprisingly, it did work out in terms of using the investment the right way. Without a doubt, there's a lack of women entrepreneur worldwide, especially in the Forex. Learning the history of one of them should empower others to do follow their dreams of becoming financially independent and creating the desired type of lifestyle to live in. Key TakeawaysThe probability of finding success in the Forex niche is quite high, considering the opportunities of the 21st century. After reading the success stories of three Nigerian entrepreneurs, most of you should understand the fact that everything is about having the wish of becoming the best in desired fields of expertise. Even the traders, locating in the rural parts of Africa have managed to learn the basics of Forex, familiarize themselves with some of the advanced trading methods and find the right brokers. It should empower millions of beginner traders like you to take action as fast as possible, without thinking about the possible failure. It's an on-going journey of becoming profitable while dealing with hundreds of failures. Remember one and only thing, quitting the market, even during the times of being financially dependent, will not help you solve the issue. On the contrary, find the right solution and continue hustling until it finally pays off.  |
| Forex trading – what are the best currencies to trade? - Capital.com Posted: 26 Mar 2019 09:18 AM PDT  In the world of currency trading, an essential fact is frequently overlooked, which is that foreign exchange rates are reference numbers, not expressions of immutable values. Put more simply, one currency is priced against one or more other currencies, and those prices change all the time. Because of this, currency trading is what is known as a zero-sum game, in which a rise for one currency must mean a fall for another. Yet even seasoned observers of the foreign exchanges – traders, commentators, even economists – talk in terms of "dollar strength", "euro weakness", or the other way around. There are occasions when traders should explore the reasons why, for example, sterling is falling against the yen, but they ought never to forget that, in such a case, sterling "weakness" is another way of talking about yen "strength". The middle currencyFollowing on from this, it is impossible in almost all cases for all currencies to rise or fall at the same time. There is one exception to this, and we'll examine it in a moment. First, the pricing of one currency against another gives rise to currency "pairs", such as sterling/dollar, Swiss franc/euro or yen/dollar. Most major currencies are quoted against other major currencies in what are known as "cross rates". A cross-rate is a direct quote of the value of one denomination against another. By contrast, the world's lesser currencies, such as those of many developing countries, do not have cross rates. They are quoted in US dollars only. Someone wishing to exchange such a currency for, to take an example, sterling would first switch the currency into dollars and then out of dollars into sterling, the dollar acting as the middle currency in the transaction. So, currency pairs are created by cross-rates, giving rise to the question of which pair is right for the novice currency trader. Which is the best currency pair to trade? There is no "correct" answer to the question of the best forex pair to trade, and the decision as to which pair to trade will depend largely on the temperament of the trader in question. They may, for example, chose the dollar/euro pair, one of the most, if not the most, heavily-traded pair in the world. During the last 12 months, the dollar's value against the euro has fluctuated within a fairly narrow range. It began the period at €0.8167 and is currently about €0.8810, a movement of just over six euro-cents. During the year it saw a low of €0.8033 on 26 March 2018 and a high of €0.8915 on 12 November, a trading range of nearly nine euro-cents, or about 11% of the rate at which the period began. An "exorbitant privilege"Whether you find that range somewhat daunting or rather dull is, again, a matter of temperament. But there are matters of fact that can inform the trader's thinking on this particular currency pair. One is that at no time during the past five years has the dollar achieved parity with the euro. The latter has always been the "heavier" currency. Another is that the sheer size of the US and euro-zone economies steadies the exchange rate and makes less likely that they will experience big swings against each other. A third is that this economic heft means both currencies are likely to enjoy a bedrock of demand simply because consumers round the world will want to buy the goods and services priced in these currencies. And a fourth is that the dollar enjoys an advantage over the euro in that it is the world's premier reserve currency, almost an auxillary global denomination. This greatly bolsters demand which, in turn, leads to what former French President Giscard d'Estaing once called the "exorbitant privilege" of America being able to run huge trade deficits. Back to that 11% trading range, and contrast it with the performance of sterling against the dollar in the years since the 2008 economic crisis. As the boom ended, the pound lost about a quarter of its value, from $2 to $1.75. Following the Brexit vote in June 2016, it plunged to just over $1.20, a 40% loss of value in total. Does the relative stability of the dollar/euro rate make it unsuitable for trading? By no means. It is precisely such relative predictability that creates the opportunity for "swing trading", riding the exchange rate on the ups and on the downs. Similarities - and differencesSomeone seeking a rather less predictable forex pair to trade may trade a more obscure currency pair, such as sterling and the Turkish lira. During the last 12 months, the rate has oscillated from 5.51 lira on 20 March last year, a 12-monthly low, to a high of 8.87 on 13 August, a trough to peak range of more than 60%. A pound currently buys 7.21 lira. Anyone fancying a swim in this pool needs to do some homework on the factors that drive trade and financial flows between these two very different countries. One is that they enjoy good relations, are both members of the North Atlantic Treaty Organisation (NATO), and have strong trade links, with British-based companies including BP, Vodafone and Tesco operating in Turkey. Big Turkish exports to the UK include textiles, clothing, cables and iron and steel, while Britain sells Turkey, among other things, engines, cars and medicinal and pharmaceutical products. To mention just three differences, there are 65 million people living in the UK against 81.3 million in Turkey, Britain is ranked 39thin the world for economic output per head, while Turkey stands at 77th, and Britain's is one of the most stable democracies in the world while Turkey's leaders are accused of authoritarianism and the country suffered a coup attempt in 2016. Finally, we noted earlier that there is one exception to the rule that currencies cannot all rise and fall against a monetary unit at the same time. The exception, of course, is gold.  |
| Singapore Exchange buys 20 percent stake in forex trading platform for $25 million - Reuters Posted: 27 Mar 2019 03:28 AM PDT SINGAPORE (Reuters) - Singapore Exchange Ltd, which is positioning itself as a multi-asset bourse, acquired a 20 percent stake in an upstart foreign exchange trading platform, BidFX, for $25 million, with an option to take a majority interest in the company. An SGX sign is pictured at Singapore Exchange July 19, 2017. REUTERS/Edgar Su "By bringing together the two pools of liquidity in listed foreign exchange derivatives and over-the-counter products, we feel that we are offering a broader proposition to financial market participants," SGX CEO Loh Boon Chye told a news conference on Wednesday. "This also dovetails into the exchange, where we offer multi-assets for any investors looking to invest in Asia." SGX's suite of equities, commodities and forex derivative products have helped power earnings growth, despite a subdued performance in its cash equities business. Singapore, the top foreign exchange center in Asia and the third-largest globally, is attracting strong trading activity driven by the growth and volatility in G10 and Asian currencies. BidFX Systems Ltd, which was spun off in 2017 as a division of TradingScreen, a provider of multi-asset execution and order management system, counts hedge funds, asset managers and regional bankers as its clients. Officials from BidFX and TradingScreen said BidFX will use the funds to accelerate its growth, and that it plans to expand in Singapore and add new centers such as Hong Kong, Sydney and Tokyo. It is currently based in Singapore, London and New York. BidFX clocked $8.4 million in revenue last year and is growing at a fast pace, TradingScreen CEO Pierre Schroeder said. Exchanges worldwide are adding platforms to boost growth. In 2018, U.S. exchange operator CME Group agreed to buy NEX Group for $5.5 billion to create a cross-border powerhouse for investors trading in the multi-trillion dollar foreign exchange and government debt markets. Reporting by Anshuman Daga; Editing by Himani Sarkar Our Standards:The Thomson Reuters Trust Principles.  |
| Forex Trading: NZDUSD Technical Analysis - March 28, 2019 - FXDailyReport.com Posted: 28 Mar 2019 06:30 PM PDT  The New Zealand Dollar (NZD) inched lower against the US Dollar (USD) on Thursday, this led to a decrease in the price of NZDUSD making the total appear less than 0.6800. The price of the pair decreased after major economic news released. Considering the price movement of the pair over the last few days, it is anticipated that the technical bias may remain bearish because the pair's price marked a lower low in the recent downside move. NZD/USD Technical AnalysisCurrently, the pair is being traded around 0.6783, a support can be witnessed around 0.6773, the 6trend line support. Another trend line support may come around 0.6758, and then 0.6744, the major horizontal support level as demonstrated in the given below chart.
 Related Articles: Coming towards the upside, a resistance may be seen around 0.6818, the key horizontal resistance level ahead of 0.6837, the trend line resistance and then 0.6864, the 38.2% Fib level resistance as demonstrated in the given above chart. The technical bias may remain bearish as long as 0.6802, the major horizontal support remains intact. USD Average Hourly Earning NewsIn the United States, the figure concerning the labor's earning on an average rate per hour remained 3.2% in December, as compared to 3.1% during the month before, up beating the economist expectation which was 3.0%. The data is sourced from the news released by the Department of Labor, United States. The data takes into account after the number of people employed in the labor category over the given period of time. It is to be noted that the figure is derived on a sampling basis. It should not be deemed as an exact figure but it can be considered as an average. It indicates the cost of inflation rated as well as the strength of the labor market. Generally speaking, high reading in this regard is considered as a bullish trend for the US Dollar (USD) and vice-versa. Trade IdeaConsidering the overall price behavior of the pair over the last couple of days, buying the NZDUSD around current levels can be a good decision in short to medium term.  |
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