Forex

Your ideas will control the results in trading

Published

5 years ago

June 14, 2019

It is you who will be the reason behind all kinds of results. The trades will have to be sorted out in the right ways. Thinking about some good quality performance will have to be there. All of the trades will have to come with the most proper setting. In the system of some good quality trading, the trades will have to sort out the best possible control. Then the management of the trading money is important too.

We will have to start from the input into the account. It cannot be too much for the traders to get excited. From the simple investment like about a $1000, there will be a good performance in the business. Even simpler, the cent account can be good for the novice traders to start with. Most of the expert level of traders happen to work with simplicity for something to learn about. With the most proper thinking, there will be a good setting of the demo trading in the learning process for all of the trades.

Losses come from greed

There will be only losses when you will lose control over the trades. It is necessary for the most us to take some simple form of trading into account. With some right kind of management over all of the trades, there will be a right idea for the trades too. That is a good thing for all of us. It is good for all of us to trades with the most minimal setting in the money management. Mostly think about the pips rather than the income. When you will trade in the market, think mostly about the right kind of setting with small lots. Try to learn about the system from the demo trading. From there, all of the right kind of performance will come out. Even the right kind of setting over the market analysis will get some simple setting. Thinking about technical management will come to life. Then the fundamental analysis will also join the process along with the sentimental analysis.

Focus on long term data

Trading the market in lower time frame always result in heavy loss. Most of the retail traders are losing tons of money since they don’t know the perfect way to trade the market. Being a novice trader you can use the copy trading Australia and trade the market with the successful traders at Rakuten. Considering the long term outcomes, it’s better to learn the art of trading. It’s true, things will be a little bit hard at the initial stage but once you start to understand the details, making money will be very easy.

Trading is about controlling

There are ways to manage some of the most legitimate performance in the business. All we will have to think about is good control. The traders need some good kind of setting of the orders and the closing positions. For that, there will be stop-loss and take-profit needed. The traders have to worry about the risk to profit margin for that. All of the right kind of performance will come to life from there because we are talking about the most proper control of the system with the right kind of management. Whether there is a good setting of the signals or not, we will be able to handle a good setting for the trades. The most legitimate performance will have to be there with all of the trades. We are going to be the most proper performer in the system.

Ideas will have to be proper

The currency trading system will behave as you ask it to, but only when the ideas are right. Once you learn about reality, there will be some changes in the mindset of trading. It will happen in a good way. The interest to be a good trader will have to be there for all of the trades though.

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Samed Olukoya

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Naira

Black Market Dollar to Naira Exchange Rate Today 17th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 17th, 2024 stood at 1 USD to ₦1,540.

Published

20 hours ago

May 17, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 17th, 2024 stood at 1 USD to ₦1,540.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,560 and sold it at ₦1,550 on Thursday, May 16th, 2024.

This indicates a slight improvement in the Naira exchange rate when compared to today’s rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.

How much is dollar to naira today in the black market

For those navigating the currency exchange landscape, here are the latest figures for the black market exchange rate:

Buying Rate: ₦1,540
Selling Rate: ₦1,530

As economic conditions continue to evolve, staying informed about currency exchange rates empowers individuals to make informed financial decisions. While the black market provides immediate insights, adherence to regulatory guidelines ensures stability and transparency in forex transactions.

Forex

SEC and ABCON Explore Collaboration for ‘Kolectyomoni’ Digital Currency Platform

Published

21 hours ago

May 17, 2024

Samed Olukoya

The Association of Bureaux De Change Operators of Nigeria (ABCON) has initiated talks with the Securities and Exchange Commission (SEC) to explore collaboration on its upcoming digital currency market platform, ‘Kolectyomoni’.

This move was underscored during an official visit by ABCON representatives to the newly appointed Director General of the SEC, Dr. Timi Agama. Aminu Gwadabe, President of ABCON, conveyed the association’s eagerness to engage with SEC to ensure the smooth operation of its digital currency platform.

Gwadabe emphasized that ABCON recognizes the regulatory oversight of SEC in the financial sector and seeks its guidance to navigate the complexities of the digital currency market.

He pointed out that while digital currencies hold immense potential for financial inclusion and innovation, they also present regulatory challenges that require collaborative efforts between industry stakeholders and regulatory bodies.

Highlighting the significance of embracing digital currencies, Gwadabe noted, “The future of BDC’s business is digital currency.”

He stressed the growing adoption of digital currencies among Nigerians, citing statistics that reveal a rising number of participants in the digital currency ecosystem, with a substantial market size of $9 billion annually.

In response, Dr. Timi Agama expressed SEC’s openness to support and facilitate the growth of the digital currency sector in Nigeria.

He acknowledged ABCON’s initiative in launching the ‘Kolectyomoni’ platform and assured of SEC’s cooperation in providing regulatory guidance and oversight.

Agama reaffirmed SEC’s commitment to fostering innovation in the financial sector while ensuring investor protection and market integrity.

He underscored the importance of collaboration between regulators and industry players to develop robust frameworks that foster innovation and safeguard against potential risks.

Furthermore, Agama encouraged ABCON to finalize the development of the ‘Kolectyomoni’ digital currency platform and submit it to the SEC for thorough review and assessment by the technical team.

He emphasized the need for timely regulatory oversight to address emerging trends in the digital currency market and maintain regulatory compliance.

Naira

Black Market Dollar to Naira Exchange Rate Today 16th May 2024

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 16th, 2024 stood at 1 USD to ₦1,560.

Published

2 days ago

May 16, 2024

Samed Olukoya

The black market, also known as the parallel market or Aboki fx, US dollar to Nigerian Naira exchange rate as of May 16th, 2024 stood at 1 USD to ₦1,560.

Recent data from Bureau De Change (BDC) reveals that buyers in the Lagos Parallel Market purchased a dollar for ₦1,530 and sold it at ₦1,520 on Wednesday, May 15th, 2024.

This indicates a decline in the Naira exchange rate compared to the current rate.

The black market rate plays a crucial role for investors and participants, offering a real-time reflection of currency dynamics outside official or regulated exchange channels.

Monitoring these rates provides insights into the immediate value of the Naira against the dollar, guiding decision-making processes for individuals and businesses alike.

It’s important to note that while the black market offers valuable insights, the Central Bank of Nigeria (CBN) does not officially recognize its existence.

The CBN advises individuals engaging in forex transactions to utilize official banking channels, emphasizing the importance of compliance with regulatory frameworks.