It’s not a secret that
it’s possible to make money trading Forex in Nigeria. There are many stories of
successful traders who have achieved outstanding results. If you don’t want to
make trading your main business and consider it as an additional source of
income, it’s fine too. But whatever you decide, when getting started, you will
undoubtedly come across a number of misconceptions about trading. In this
article, we will take a look at the five common thoughts that may hold you back
from trading success.
Thought #1. You can get started with just $100 in your
account and earn money fast
When you decide to start
with just $100 more…
Nigerian naira (NGN) is the
official currency of the Federal Republic of Nigeria. The Nigerian naira is
managed by the Central Bank of Nigeria. It distributes and attempts to maintain
price stability with it. One naira is subdivided into 100 kobos. As of March
2021, 1 U.S. dollar is equal to around 380 NGN, so it takes 380 NGN to buy one
dollar. The Central Bank of Nigeria has the sole authority to issue banknotes
We won’t bore you with lots of
dates and details. In this article, we’ve compiled some of the most important
facts about naira, and here they are:
- The name Naira
was first introduced by more…
Bitcoin has been
trading sideways for the entire month now. The BTC/USD pair has made 2
unsuccessful attempts to break through the bearish level of $ 40,000 and 3
failed attempts to break through the bullish $ 30,000.
While bitcoin is
stagnant, traders have switched their attention to altcoins. After the BTC rate
began to correct from $ 42,000 area, the altcoin market came to life: billions
of dollars are circulating on crypto exchanges every day.
If you are stuck with
Bitcoin trades, it’s time to take profits and look around: altcoins are
becoming more and more attractive every day. Let’s start our analysis with
Ethereum, the second most popular cryptocurrency.
Don’t you sometimes
get tired of hearing: “Beginners shouldn’t get into intraday
trading”, or “Experienced traders do not trade lower than the daily
Well, you are not
Warren Buffett yet, and while you don’t have millions of dollars on our
account, let’s be honest: sometimes you do think of venturing into intraday
trading and making a pretty penny, or even more.
Our first and most important tip here is:
should suit your personality.
Before we dive deeper
into intraday strategies, let us remind you that you can only earn when the
trading style suits your personality. Period.
If you like to get
things done quickly, if patience is not your strong more…
1. How did the first Forex market look?
The barter system is the oldest method of exchanging goods for other goods. It was first introduced in 6000BC by Mesopotamia tribes. Back in the day, salt and spices were used as the main mediums of exchange. This is how the first-ever form of foreign exchange looked like. Eventually, the first gold coins were produced in the 6th century BC, and they acted as a currency. Although gold coins were widely accepted as a medium of exchange, they appeared to be impractical because they were quite heavy. In 1875, the countries adopted the Gold more…