The Secret to Success is doing the stuff other people won’t do & doing it for a really long time.John Jantsch
Forex Trading is Dangerously Addictive. You only need to read “Reminiscence of a Stock Operator” by Edwin LeFevre to see how powerful this addiction is. Once you find your footing and learn how to make money by simply looking at charts, you get completely taken over by the markets and you consistently and incessantly – day and night – think about pips and charts. You sleep forex, you eat forex and you wake up in the middle of the night determined to make ‘just a couple of dollars’ before going back to bed.
World over, Forex traders are known to be disheveled, sleep deprived, shaggy and unkempt fellows. They drive expensive cars and own huge mansions, but at a personal level they seem to never have time for anything else apart from trading. They would much rather have a laptop next to their deathbeds than be surrounded by their loving family – assuming they ever made time to have one. Is this the life you want to live? Is this your dream-come-true? I don’t think so.
“Dear @theforexguyKE, Thank you for all the help and assistance you are offering to Kenyan Forex Traders like myself. We appreciate. I have a small problem. Actually it is very big because I have just lost almost Twenty Thousand Shillings today trading. I have been trading on my Demo account for 6 months now and my results were stellar to say the least and I made maximum profits on almost every trade. When I started trading real money, however, I have made loss after loss after loss and I do not understand what is happening. Has my broker rigged my account? Is the data on the Demo account the same as the data in the Real accounts? And how comes I cannot make any profits on my Real account? Please reply. PS: I LOVE the Alpha and Omega Trading System. Keep it up!”
“Dear distraught Newbie, there is no need to get your pips in a knot! Here is the solution to all your problems 🙂
You have clicked HERE and opened a free Brokers account with a Forex Trading Demo. You have clicked HERE and Downloaded the Alpha and Omega Forex Trading System and installed it on your MT4. You are now all set to start practicing on your Demo account and honing your newly found money making skills although you are now confounded with the all important question if WHAT IS THE BEST TIME TO TRADE FOREX in Kenya?
Over time, I have developed my own program and preferences and you can either copy my time-table or develop your own best trading times based on your own particular Daily Schedule and Commitments. Here is my 3 best times to trade;
The article below was written back in 2016 when we as Kenyan Forex Traders had fewer option for Depositing cash into our Forex accounts and more importantly, withdrawing our profits. Today you can simply deposit and withdraw from your forex account using Mpesa. Open an account that accepts Mpesa Deposits/Withdrawals here >> http://bit.ly/withMpesa
Funny things have been known to happen when you link your Main Bank account to your Forex Brokers account or fund your Forex Brokers account with your REAL credit card that is attached to your Personal Bank account. In fact, funny things have been known to happen anytime you make an online purchase using your real credit card that is linked to your real bank account.
Stay safe! Over time (and many mistakes later) I have developed a long wounded but probably secure means of both funding my Forex broker accounts and withdrawing my profits from the same. To follow my method you need to;
In a different article, I write on why you should not trade with 100USD (Click HERE to read the article) In essence, the gist of the article is that the profits you make trading with 100USD are just too little to warrant sitting down for a whole day for such pay. But assuming you are THAT determined and that patient – not to mention disciplined – here is how to grow your 100USD account to 1,000USD in just one year.
1. If you are losing money, close your position, switch off your computer and WALK OUT for some fresh air and maybe some ice-cream or mutura. You can even opt to stay out of the market for a day or two to compose yourself. Traders who keep trading while on a losing streak only end up making more losses.
I got into Online Trading. It was alarmingly easy to do. I went through the whole cycle of emotions, from Supreme Self-Confidence to Total Impotence. In the end, I broke even.James Lasdun
Wouldn’t it be great if you could invest only $100 in the forex market and trade $10,000? With such small changes in forex prices, wouldn’t you make more profit trading with $10,000 than with $100? And wouldn’t it be even better if you could invest your $100 but trade an astronomical $50,000!? Well, now you can thanks to forex leverages.
What is forex leverage? Basically, when you open an account with your forex broker, what you are opening is called a margin account. You will be given the option of choosing either 10:1, 50:1, 100:1, 800:1 etc etc depending on the broker you chose to deal with. Let us assume you opt for 10:1