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    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

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    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

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    FCCPC Orders Drawdown of Online Credit Companies

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    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

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    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

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    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Home HOW TO

10 Forex Tips for Beginners to Trade Successfully

by Susana Dos Anjos
February 14, 2017
in HOW TO
Reading Time: 3 mins read
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Hey I’m Susana Dos Anjos. I’m a forex trader you can look me up on Facebook or my website! I met an amazing group of entrepreneurs who shifted my paradigm in a major way. I was exposed to a “secret” only 1% of the world knows about, and was blessed to take it upon myself to learn what they had mastered…I was able to understand that the top 5% of the world actually INVESTS their money…they realized that only the wealthy understood the power of investing (therefore the “rich get richer, poor get poorer” concept). One such way was through the Foreign Exchange market (Forex).

 

As a forex trader, the top 10 tips I would share with a new forex trader is….

GET CONNECTED WITH A COMMUNITY OF FOREX TRADERS

Get connected with forex traders to get the support and more broad knowledge of trading. You’ll never feel like you’re doing this alone and can trade together too.

DON’T GET EMOTIONALLY ATTACHED TO YOUR MONEY

Trading forex is 80% psychological and 20% its strategy.

USE PROPER RISK & REWARD MANAGEMENT

Using risk management, you control how much you can lose either knowing when to pull out of a trade or setting a stop-loss. Knowing how much you can win, you know when to take your profits or set up a take profit.

DON’T GET GREEDY

Getting greedy can be risky you’ll lose sight when to pull out of a trade and you will keep wanting more and more. You can end up in a loss instead.

Related: How to Become Successful in your Business
TRAIN YOUR EYES TO SEE PATTERNS 

Practicing your eyes to see major market patterns will help you find many entries for a trade easier.

BE CONSISTENT! ALWAYS PRACTICE TRADING

Like they say practice makes perfect, practicing trading will have major improvements and staying consistent is the way to go! You can practice in a demo account (fake money in the real market), before you start trading on a live account (with your real money).

FIRST PRACTICE ON A DEMO ACCOUNT BEFORE TRADING LIVE

Practice on demo as if it’s your live account. Make the mistakes with your demo account so you can learn from those mistakes and not do them on your live account.

BE AWARE OF NEWS AND NFP (NON-FARM PAYROLL)

Be careful if you decide to trade on the 1st Friday of each month, the forex market has huge volume on those days and the market will fall and rise very quickly, matter of seconds and minutes sometimes.

PLAN STRATEGY BEFORE TAKING THE TRADE

Always plan on how much you’re looking to gain in the market if not you won’t know when to take your profits and will easily get greedy.

PLAN TO CATCH AMOUNT OF PIPS (PERCENTAGE IN POINT) NOT AMOUNT OF MONEY 

The market moves in PIPS, plan to catch an amount of pips so you know how much you can catch according to your analysis.

 

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