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How to apply for Permanent Residency in Canada without an agent. Why these 5 Nigerian cities speak pidgin English. Raise Startup Capital Crowdfunding for business in Africa Raise money and find investors for your new or existing business today. Create your account and start trading today. Trade Once your account is credited you will be able to exchange any of our other operating currencies at a price you choose on the Trading Floor. Send money After you have made your exchange, you can transfer the exchanged funds to any account of your choice in your name worldwide.
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Safe and Secure Two-factor authentication email or authenticator apps is required for all withdrawals and API usage. Great Customer Service We have a fully functional online query handling system to assist you in using our online trading platform. We call the high the resistance. Once the price crosses the previous high to achieve a higher high, there is a huge chance that the old high will become the new low in a trending market.
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The low is now called the support. If you are a new investor, it is a good strategy to begin trend trading with one of these pairs. This is because these pairs are very liquid and have stable volatility. Since these currencies are stable, they will help you in managing your risk initially.
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It is always a good strategy, to begin with, a USD pair because of stability. There are various other pairings available which do not include the USD. Day trading is not strategy per se, it is more of a trading routine. In this strategy, you place your trades, and close them within the same day or within a hour window and book your profits or loss. You can realise profits quicker in this strategy, although the amounts might be smaller.
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This is a very common strategy followed by a wide variety of small investors. Another strategy is known as scalping.
This strategy is based on opening a position for a short time and closing it to make a small profit. These strategies can be a great way to book profits quickly. If you are ready to start Forex trading then you may have doubts on which broker should you choose to trade online. On the positive side , forex trading has the potential to bring good income if you trade with a working strategy.
And you don't even need very high capital to start. On the downside , one bad trade without proper money management can be disastrous, or trading with real money without practising on demo. These are just the few risks. How you can manage these risks? Be cautious, have a fully tested trading strategy on demo and use good risk management to be successful at forex trading. At Forextrading. NG our ultimate aim is to help you choose the best broker for your trading needs.
NG is an Investment Comparison website with an aim to help Investors in Nigeria find the best forex brokers. Read More. Read full risk disclaimer.. All Rights Reserved, See Best Brokers! For Nigerian Investors, forex trading can be a way to earn wealth. Don't have time right now? Read the guide later! Chapter 1 What is Forex Trading? Chapter 2 Understanding Currency Pairs.
Chapter 3 How to start Forex Trading? Chapter 4 Forex Trading Strategies. Chapter 5 Forex Trading Platforms. Real Life example of Forex Trading Have you traveled overseas? In this chapter, you will learn everything you need to know about Currency pairs. Let's start!
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Types of Currency Pairs Currency pairs are mainly classified into 3 types: 1 Major Currency pairs: These are the currency pairs that include US Dollar as one of currency in the pair. Currency Pairs Lingo While trading forex, you would come across these common terms. Close the trade To realize your proft or loss , you need to close the trade that you opened.
In this chapter we will only analyse popular technical analysis strategies. Technical Analysis Most technical forex trading strategies involve some level of study and analyse of the chart or trend patterns of the currencies before making an actual trade. Now let's look into some of the most popular forex trading strategies. Plus Alpari Invest app. Forex Trading, like any other investment has many benefits but also carries significant risks.
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If you feel that the particular currency is on the way up, you can buy it and go long. On the other hand, if you feel that a currency is not performing well, you can sell it and go short. Open 24 hours: Another key benefit of forex trading is the ability to trade 24 hours, for five days in a week. These trading hours are much longer compared to traditional stock exchanges which allow you to place an order or close it during limited trading hours. You might want to check out our guide on best time to trade forex in Nigeria as the opportunities to make profits are higher during certain market hours.
Currency choices: Another major benefit is that forex trading allows you to trade in a wide range of currencies from around the world. Risks of Forex Trading There are certain risks attached with forex trading, which you need to be aware of. High Risk with Leverage: Almost all Forex brokers offer very high leverage , as high as in many cases.