The Nigerian Internet Estate – The Myths, Facts and the Reality I (onl…

The Nigerian Internet Estate – The Myths, Facts and the Reality I (onl…

As a follow up to my past posts on this blog, Ill continue to assert the fact that Nigeria is a force to be reckoned with as regards every known endeavor on the confront of this planet called Earth, and the internet is no exception, it is left for the rest of the world most especially the United States to fathom this cold hard fact out. Well I would have titled this piece the online conspiracies of the west against Nigeria well that would sound cynic and inane. It will look as we are beggars at the high mans table waiting for crumbs that falls off his table; when we are kings in the making. However, it has become imperative that we will take on destiny instead of waiting lazily for it to come inviting at us. But do you know one thing my friend? Your destiny cannot come to you except you shrug off the ashes of defeat, rise to your feet, and then take what rightly belongs to you. Sorry if I have digressed from the main topic of the day, well I was trying to crave your indulgence as is always the case with me. Like I said earlier on, Nigeria remains the biggest internet estate and can compete favorably with India on the third world country category and in the real sense can give the west a run for their money; and as a member of cyber world is not immune to the fistful of online fallacies that pervades the internet daily. But Ill only deal with this ill wind the as it concerns we Nigerian.

One thing that has remained obvious to we Nigerians especially those who wants to make a decent living doing decent business online is that we are greatly disadvantaged because of some pre-conceived concept of the developed economies against Africa and Nigeria in particular, but I wont dwell much on the bad side as an optimist but will deal on the possible and well established side as a realist. What do I average by this? The internet has become a real estate and as such many people world wide are reaping the benefits of this innovation and smiling to the bank every other day, so my main concern is to get you acquainted with the shared myth that pervades the internet daily and the obvious.

Recently, online FOREX TRADING has become a niche that every person with little or no experience on money matters wants to get involved in within a short period of time (most attend one to two days seminar) and want to start reaping from it, stop! Ill love to ask, why is it that we nevertheless have few people that are high from trading FOREX with all the hype associated with it? Well have you stooped to think this over? But my friend like I titled this article Ill love to list the myths, facts and the reality of online FOREX trading. Personally I dont trade FOREX but I know of an range of people who do; and from the fillers I get daily, it is not as rosy as it sounds. You loose money and you gain money, however the inclination of losing far out weighs that of gaining if you dont know the fundamentals of the trade. Knowing the fundamentals is not some thing you gain the knowledge in 1, 2, 3 or already 7 days as those who advertise it in dailies will tell you. What the organizers of various FOREX seminars are after is to gain back what they have loosed trading by levying outrageous seminar fees on the participants. At the seminar they dont take the time to explain the technical and fundamentals of the market, terms like pips, bull traps, Fibonacci examination etc are not well explained: leaving the participant more confused than ever. But like I said earlier on, trading with no fore knowledge of the aforementioned points makes trading an experience not worth the venture.

nevertheless on online FOREX trading, it will be unfair if I dont mention the benefits of this online money making venture already if Im not trading this very lucrative market (in addition). Basically FOREX trading exceeds about 1.3 trillion dollars daily, so it will be average of a person to jump into a market as large as this with no formal knowledge of the happenings. However ,it becomes expedient of the person to get fully into the know of this liquid market before getting his hands burnt in the time of action of wanting to make 100 pips a day as most of the self acclaimed FOREX experts potential you when you trade on their systems. Like I always do when posting any article, I try to make detailed research (already if I know little or not) before coming to press, and when I do it is in the form of a personal experience. While this FOREX rave reached fever pitch, every person wanted to tap into this market to reap bountifully; I decided to make my own in road. Daily, I hit every search engine on the net for a detailed report, I subscribed to every ezine, news letter, and every obtainable publication that deals with the subject. From my findings I observed that the requirements of this market is quite tasking, however if all these requirements are met, the market is worth the venture, what are the requirements Im talking of: they include a laptop computer connected to the internet; as you need this to enhance the mobility of the market, a domiciliary account, and a form of identity which could come in form of an international passport or national identity card and a plat form to trade on.

One day I saw an advert on a daily on a FOREX seminar thatll last for about two days, and within these two days you will be taught all the basics required to start making between 30 to 40 pips daily (observe: a pip is worth about 10 dollars). I did not attend the seminar as the seminar fee was too much, not that I cant provide it but because the money was too much for a seminar that will last a associate of days. So I took the address of the FOREX firm and decided to pay them a visit and perhaps make more inquiries. On getting there I met a lady who looked more like a cleaner than a FOREX expert, as I was expecting to see a person who looked like those who work in wall street or if I want to sound modest like some one who works for one of the edges, then how can such a person teach me the basics of the trade for me to start making 50 pips every day!. I thought may be if she really is an expert as she claims, I figure she should be making good money as a FOREX expert and at the minimum look good for her troubles. Is not like Im saying that there arent people here in Nigeria who are doing good trading FOREX, but what Im saying is that they are very few, this is the fact and the sooner it downs on you the better. I dont want to sound cynical but in this business is very good for you to be very truthful to your audience, telling them the reality of every situation, instead of leading them falsely by reporting fallacies and stuff.

On the contrary, FOREX trading is a niche and can not be ignored as it has enriched many Nigerians (the few who know the rudiments of the business) as I know of a guy who takes home close to 30 to 40 pips any time he trades, do you know his secret? He sells when others are buying, and sells when others are buying. He knows where to make his stop loss and quit when it really mattered, he understands the basic trends mostly the basic, since with it you have a clue as to how the currencies are performing in the market relative to how the various big economies are faring. One other fact in relation to a myth pervading the scenario is that FOREX is not a vocation as the experts will tell you. It is not some thing you do on a part time basis; rather I will say it is more of a career, since most traders do it complete time. Why this is so is that you can dwell on a chart a whole day waiting for a popular signal to begin trading, while you are in your office waiting for the required signal, your boss will be telling the secretary to prepare your sack letter and pay-off. But if you learn the ropes you work smart as a FOREX trader, knowing the best times to trade; then you can jolly well make it a vocation, instead of a career as earlier speculated. The secret is that most FOREX traders dont trade every day. This is another fact, you only trade when there are auspicious signs. Another secret is contentment (avoid being unnecessarily greedy), when you make a good move that gives you 20 to 30 pips, is usually advisable to quit at that juncture already if you see another popular trend. Usually such trends end with you losing the money you already made. So be careful, as it could be very enticing in addition as deceitful

The fact about this market is that you make money if you avoid bull traps and interpret the market trends both basic and technical, looking at the charts, knowing when to buy and when to sell, knowing the best money pair (e.g. euro/dollar), knowing when to go into and when to quit and Fibonacci examination. If you get your self acquainted with all these, then your venture into this market will be worth the while, on the contrary the myth is that you dont, make 30-40 pips daily by just taking part in a 2 day seminar or workshop as most will call it, most self acclaimed experts introduce you to robots that trade on your behalf, well the truth about robots is that they only function according to how they are programmed. Most robots are programmed using technical examination, but this market is very volatile and economic trends in most leading economies especially the US can affect the market negatively or positively, for example the recent recession so experienced in the US resulted into a ineffective dollar and like a virus it spread to other economy especially the Euro zone and Japan: so if your robot was programmed following the reverse you can figure out what happens. The reality here is that you can only make it in FOREX when you master the ropes of the market as it has been noted that about 90 percent of those who go into FOREX exit after a short period of venturing. The fact then is that FOREX trading can be lucrative in addition unprofitable. Which ever side of the divide you belong the choice is yours. But I assure you that you can make a difference if you believe in your self, since many plat forms reject registration from Nigeria (another western conspiracy), for example FXSOL no longer accepts registration from Nigeria. So it is left to you to decide how to take this market by storm as I potential to give frequent updates as regards my online experiences since Ive decided to join the trend of Nigerians making dollars form FOREX trading.

Feel free to post your comments and views on this topic, you can also get a free FOREX manual by one of the worlds best FOREX experts, contact me by email if you are in need of this manual, it is free of charge and will come as an email attachment sent free of charge to your box. You can also get e-books on how to build your internet empire for a token fee, more so many freebies are also included like the e-book as a man thinketh by James Allen and another free e-book by Wallace D Wattles titled the science of getting high. Just contact me via email for these high books that will enhance your online money making experience.

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