Online Forex Trading
Why the sudden upsurge in the request for Online Forex Trading Resources? Is it the way out of the Global Economic Crash for Nigerian Online Entrepreneurs? I don’t think so. While Forex Trading is a genuine and legitimate way to make money online, it is not for the unskilled and lazy. It is not a quick exit option from the rat race. Neither is it the best protection from the heat been generated by the global economic crash.
Anyone promising you a get rich quick package via Online Forex Trading is only doing so to rob you of your hard earned money. I made a post on this before, Forex Trading In Nigeria, Who is making the Money. Think about it for a second, the recent Global Economy Crash has made nonsense of the theories that were held in high esteem by many experts for decades. The academicians and the business experts are spending sleepless nights trying to figure out what went wrong and how to get the global economy back on its feet. I am referring to the committed economic and business experts in the developed worlds. (One of the disadvantage of living in a Global Village is now being witnessed by all. What happens in Japan or America can have instant effect on Nigeria within 24hours).
If that is the case, what makes you think that a fellow Naija brother who cannot boast of 24/7 electricity to power his laptop has a magic software that will help you get rich overnight through Automatic Forex Trading? Well, the choice is yours. But please stop requesting for my help on Forex Trading.
Presently, I don’t Trade Forex Online. Not because it is illegal, here are my reasons:
- It is an online business with very high risk.
- The high risk is worsened by the lack of infrastructure in Nigeria. Can you imagine PHCN striking while you’re trying to make a sale or a buy? Which ISP can guarantee you constant internet connection. (Since January this year, my ISP has been offering epileptic service even after increasing their subscription charges. They gave the Global Economic Crunch, as excuse for the increase).
- I am not ready to pay the price of time and resources required for Trading Forex.
- I have heard too many scary news from friends that loss some good fortune within minutes of Trading Forex with live accounts.It is quite unfortunate that too many Naija Forex Trading Newbies assume that their performance with Demo Forex Trading Account is an indication of what real live trading will be. Please don’t be deceived. The result is not the same.
Well, I could be totally wrong. I never said I knew it all anyway. So, you have to make your choice. However, please, don’t send me emails asking for Forex Brokers, Forex Softwares and Forex Resources. I am not trying to discourage you, just that I am begining to get upset with the number of emails asking me about Forex Trading. After all my blog is not solely about Forex Trading. If I ever come across any material I consider useful for my readers, I will simply post it for free in an article. I don’t have time for sending such materials to individuals via emails. 😉
Ok, after all said and done, since I am committed to my readers, I will try to get more information on blogs and websites where you can get reliable information and tutorials on Online Forex Trading. But until then, lets devote attention to talking about other online business ventures that any entrepreneur can invest in without burning the fingers.
Here is what I am currently doing. I am reading about Blog Farming (it is a long term investment strategy) am also working on my Website Traffic too. I want a shift from Social Media (it requires constant participation) to Search Engine generated traffic (it is much more reliable and less demanding) . I’m getting better with my Google Adsense skill and improving my earnings via affiliate marketing too. I will be sharing about these in my future posts. You can subscribe to Nigerian Entrepreneur RSS Feed so that you won’t miss future update to this post Online Forex Trading. Until then, stay cool. Cheers.
