How To Fund Your E-currency Account

Once you open an e-currency account, funding it is not difficult at all. To fund your e-currency account, you have to pay some money(Naira) to the exchanger’s bank account and the exchanger will in turn, pay in the equivalent amount into your e-currency account, so the process is so simple! The only problem is how to find a reliable NIGERIAN E-CURRENCY EXCHANGER. But you don’t have anything to fear, I’ll give you a list of very reliable tested and trusted e-currency exchangers in Nigeria.

WHAT YOU SHOULD LOOK OUT FOR IN AN E-CURRENCY EXCHANGER

Before carrying out any transaction with an e-currency exchanger, you have to look out for

Exchange rate

Funding speed

Bank accessibility(e-currency exchangers bank account)

Customer care

Now based on the research facts above, I’ll recommend the following exchangers for you!

Naira4dollar:

I personally use naira4dollar to fund my LR account and so you should have no fears about paying your to money a scammer.

They fund your account within 20minutes after you confirm bank payments.

Use Intercontinental Bank account

Very cheap exchange rate(compared to most exchangers)

Functional customer care service to lodge your complains and questions.

To get a free Naira4dollar account, click here!

E-NAIRA

This exchanger is very reliable, but I have tried it for ALERTPAY and WEBMONEY only. However, they offer very good LIBERTYRESERVE funding.

They fund your account within 20minutes after you confirm bank payments.

Use Intercontinental Bank account

Very cheap exchange rate(compared to most exchangers)

Functional customer care service to lodge your complains and questions.

To get a free E-NAIRA account, click here!

E-PAY MONSTER

This is a very and highly recommendable e-currency exchanger with access to over 8 different e-currency systems including e-gold, e-bullion, pecunix, webmoney, libertyreserve, alertpay, etc. Due to their large number of transactions, their exchange rates flunctuate so giving customers advantages.

Very liquid exchange rates

Reliable customer service center.

Secure services

Fund within 20-40 minutes of confirming bank payments.

To get a free E-PAY MONSTER account, click here!

IMPORTANT!

To get the best values from funding your account, I’ll advise you to open an account with each of the exchangers listed above, my reason for this is for you to compare their various exchange rates at any time you need to fund any of your e-currency accounts,……just click here to view others and start opening your accounts!

You can also make huge amount of money by becoming an e-currency exchanger(150,000 Naira) a month!

I'm currently working on a sit eto tutor you on that free.

The best time(hours) to trade forex

If you want to earn extra cash besides the cash you earn from your regular job or your business, maybe it’s time for you to participate in the financial market. One kind of financial market that made a lot of people earn a lot of money is the Forex market.

Apart from the fact that the Forex market can give you an opportunity to earn a lot of money, you should also know that Forex is the biggest and the most liquid financial market in the world with trade exchanges that reaches up to trillions of dollars each day.

Forex also operates 24 hours a day thus making it the most liquid market in the world.

However, Forex is also a very risky market. Aside from that fact that it generated a lot of people to become rich, it also made a lot of people lose large amounts of money. So, you should consider that you should think twice before entering this financial market. You should have sufficient knowledge and skills before you enter this market. Part of the knowledge that you should know the best time you should enter this very liquid and very large market.

Certainly you know how to trade, you know what currency pairs to trade, and you even know how to read charts. Maybe, you also know one or two strategy when trading in the Forex market. However, you should also take into consideration the fact that because the Forex market operates 24 hours a day, you need to know when you should trade.

Every minute in the Forex market counts. One minute you notice a currency is increasing in value, the next you see that the same kind of currency you noticed a minute ago is decreasing in value. This is the reason why you should consider the fact that Forex market is a very dynamic market with lots of price oscillations.

Minute by minute events are quite important in order for you to be successful. Because of this characteristic that is found in the Forex market, you, as a Forex trader, can enter the market several times a day. This will allow you to earn some profits after every number of trades you do and perhaps maybe even lose one if you made the wrong trading decision.

In the first place, you have to remember that the Forex market beings at Sunday at 5PM EST to Friday at 4PM EST then it beings again at 5PM EST. Trading begins in Forex at New Zealand next at Australia followed by Asia, in the Middle East, Europe and ends in America. The major markets in Forex are London, Tokyo and New York with trading activities the heaviest when major markets overlap.

Basing from the times, you will notice that there will always be someone anywhere around the world who is buying and selling currencies. You will see that when one market closes, another market opens. Trading in the Forex market is 24 hours a day.

Forex market transaction volume is high all the time during the whole day. However, it peaks the highest when the Asian market, the European market and the US market open simultaneously.

These are the trading hours in the Forex market you have to trade in, in order to get the highest possible trades. This are also the most profitable hours.

Here are the open market times that you can use as reference:

• New York – 8am to 4pm EST
• London – 2am to 12nn EST
• Great Britain – 3am to 11am EST
• Tokyo – 8pm to 4am EST
• Australia – 7pm to 3am EST

If you analyze the schedule, you will notice that there are two instances where two of the major markets overlap on trading hours. These are between 2am and 4am EST with Asian and European markets and 8am to 12pm EST with European and North American.

These are the things you should bear in mind when trading in the Forex market. It is not only important that you know how to trade and know some strategies on Forex trading, But, you should also know when is the best time to trade in this very extensive and very liquid market.

If you apply all these, you can be sure that you can earn a potentially higher profit than on other trading times.

Withdrawing funds from your forex account

Just like funding your account, withdrawing your earned money is quiet simple.

To withdraw funds from your account, go to the “deposit/withdrawal”  section of your broker’s website and click on the “withdraw funds”  button.

You have to upload a scanned copy of your National ID or Driver’s license as a method of identification and mainly for security reasons. Once you upload the ID, select the amount you want to withdraw from your account and click on the proceed button. If your request is accepted, it usually takes0-48 hours to process your request depending on the e-currency type (e.g. alertpay, webmoney, libertyreserve, etc.)

Read “Withdrawing from your e-currency account” to learn how to convert your e-currency (Just like the one you requested from your broker now!) to Naira directly in your bank account within 24Hours!

IMPORTANT;

You must close all open transactions before you can withdraw from your account

You can only withdraw by/with the same method(usually e-currency account) you used in funding your forex account.

Types of Forex Charts

There are three most popular types of charts:
1. Line chart

2. Bar chart

3. Candlestick chart

Line Charts

A simple line chart draws a line from one closing price to the next closing price. When strung together with a line, we can see the general price movement of a currency pair over a period of time.

Bar Charts

A bar chart also shows closing prices, while simultaneously showing opening prices, as well as the highs and lows. The bottom of the vertical bar indicates the lowest traded price for that time period, while the top of the bar indicates the highest price paid. So, the vertical bar indicates the currency pair’s trading range as a whole. The horizontal hash on the left side of the bar is the opening price, and the right-side horizontal hash is the closing price.

NOTE: Throughout your lessons, you will see the word “bar” in reference to a single piece of data on a chart. A bar is simply one segment of time, whether it is one day, one week, or one hour. When you see the word ‘bar’ going forward, be sure to understand what time frame it is referencing.

Bar charts are also called “OHLC” charts, because they indicate the Open, the High, the Low, and the Close for that particular currency.

Open: The little horizontal line on the left is the opening price

High: The top of the vertical line defines the highest price of the time period

Low: The bottom of the vertical line defines the lowest price of the time period

Close: The little horizontal line on the right is the closing price

Candlestick Charts

Candlestick charts show the same information as a bar chart, but in a prettier, graphic format.

Candlestick bars still indicate the high-to-low range with a vertical line. However, in candlestick charting, the larger block in the middle indicates the range between the opening and closing prices. Traditionally, if the block in the middle is filled or colored in, then the currency closed lower than it opened.

The purpose of candlestick charting is strictly to serve as a visual aid, since the exact same information appears on an OHLC bar chart. The advantages of candlestick charting are:

• Candlesticks are easy to interpret, and are a good place for a beginner to start figuring out chart analysis.

• Candlesticks are easy to use. Your eyes adapt almost immediately to the information in the bar notation.

• Candlesticks and candlestick patterns have cool names such as the shooting star, which helps you to remember what the pattern means.

• Candlesticks are good at identifying marketing turning points – reversals from an uptrend to a downtrend or a downtrend to an uptrend.

Trading Terminals

Basically, there are only two trading terminals/platforms employed by Forex Brokers;

1. A downloadable trading platform (usually a metatrader4)

2. An online Login-and-Trade platform that requires no download of any software.

Now, before you choose a broker, you have to identify the type of platform the broker offers and try to match them with your needs, for maximum efficiency.

If you own a laptop that you can use conveniently anywhere at anytime, then your best option is to choose a broker that offers a downloadable platform, as it enhances your privacy.
On the other hand,a student or a very mobile business man should more considerably sign up with a broker who offers the simple Login-and-trade platform. You can simply just walk into a cyber-café and login to your account and carry out your transactions without stress. But this platform may not be a good idea for people who are a bit careless.

Most times, it is more advisable to use a forex broker that uses the 'online login-and-trade platform', so that you can easily access your account from anywhere at anytime.

IMPORTANT!
For the metatrader4(downloaded software forex trading), each computer you want to use to access your account, you must install the software in the computer so just grab a flash drive from the market, for your own good!

Forex Robot Mania

As suggested in my last post...As a side note, I'm planning to make opposing robots this weekend. They will trade long and short positions in different sub-accounts.I've put together yet another robot. It will trade the same currency both long and short in separate sub-accounts. I'll have to wait until Monday or Tuesday to activate it.A few points I feel are worth mentioning:I've been developing

Friday Market Analysis

I am following CNBC regularly (via their web site) these days. I see many of the pundits advocating panic and doom. I suspect they all want to be able to claim they were right when we finally do experience some type of pullback.However, these braying naysayers of doom really don't have much of import to say. All they really do is act as large forces on the emotions of market players. Everyone

Thursday Robot Recap

Thursday was a very slow day.The market was down. The yen crosses took a dive. Everyone is getting antsy about stocks, news reports, and the month of September. OMG, the risk! My robot snoozed for much of the day and had little chance to earn anything useful.However, amidst all the whining I have to realize that being up about 4.5% for the week isn't so bad.Regardless, I did tweak things a

Wednesday Status

Wednesday was a slow day.The AUDJPY was very quiet, which left little opportunity for my robot to extract revenue. In fact, with the DOW drop at the end of the trading day today we may be looking at a bit of a downward correction over the next little while.My robot is not very active during downward movements. So, I'll get bored, worry about long term profitability, and otherwise be motivated

Software needed to earn big in forex trading

Recently, money is one of the most important factors that every individual needs in order to afford a comfortable life.People also need money to feed their family, to pay for food, to buy fuel for your car and also to purchase anything you want in order for you to live a comfortable and contempt life.

Providing that money is a necessity in life, you need to know how to earn money. Some people working for a company offer their services for money while others prefer putting up businesses to earn the incomes they need.

However, there is another way to make money and a good one at that. There are some people who trade money for a living in order with the purpose to make a enough amount of income. Some are very good at it that they actually made millions of dollars in a very short time.

This kind of trade is known as Forex trading. Forex is the largest and the most liquid financial market in the world that operates 24 hours a day and generates currency exchanges that amounts up to 2 trillion dollars in just one trading day.

Unlike the stock market, the Forex market has no centralized location. Markets open and close at different parts of the world what implies that it is open 24 hours each day. Trade starts in Australia and ends the next day in New York.

It is a fact that the Forex market is one of the best money making financial markets in the world. Some people has made millions of dollars in the Forex market in just a short period of time. The Forex market is considered to be one of the best career that you can ever get in to. Some people are known to have quit their regular jobs and ventured in the Forex market to get a piece of this very large pie.

However, with all the great money making opportunities that you can take advantage of in the Forex market, you need to be conscious that the risk of losing money is equal. You have to consider that the Forex market is equally risky as it is profitable. It is a known fact that many people who have also ventured into this very large financial market have lost a lot of money and some even suffered from financial collapse. This is why you should think hard about it first before you even consider entering this financial market that offer huge potential to make money and also equally risky market.

In order to be successful in this financial market, you should have the right knowledge and skills to trade currency. The basics of a Forex market is that you should buy low and sell high in order to make a profit. However, there are also different strategies involved in the Forex market. You should also learn about them in order for you to trade efficiently and minimize the risk of losing money.

Thanks to the new developments and the advancement in communications technology, everyone who has the money and the skills to trade in the Forex market can now trade online right from their own home.

To start trading in the Forex market, all you need is a fast computer that you need to dedicate in your Forex trades alone and a high speed internet connection in order to avoid lags in updates in prices. You will also need a software program to assist you with your trades in the Forex market.

You can get the software when you register and open a Forex account with your preferred forex brokers. The broker or the brokerage company will provide you with either an online software program or a software program that you have to install in your desktop computer first.

You must realize that you first need to determine if the Forex trading software is adequate for you. You have to decide if the software has all the necessary things to assist you with your trades. For example, a good Forex trading software program should enable you to see real time charts, real time price updates, and also the different tools you need to effectively trade in the Forex market.

These are some of the things you need to know in order for you to successfully trade in the Forex market. With the right knowledge, skills, and the right Forex trading software, you can be sure that you will increase your chances in making a profit and decrease the risk of losing money.

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Monday Robot Review

If you are a new visitor I should let you know I'm reviewing my own proprietary forex robot -- I'm not providing a general review of robots.The GoodProfitability continues. Sunday evening the robot earned 0.2% and over the course of Monday it earned 2.0% return. It's not obvious, but when capital is added to the robot old smaller positions provide less return when closed profitably. This means

Weekend Robot Development II

While not fully tested, as the market isn't open for trading, I have also completed both the meta-robot concept and a notification system.The meta-robot will look at the trades made via the current profitable robot and impose rules that require trades to open at a better price. The required difference, in pips, will be divided in two and added to the meta-robot's take profit point. For example,

E-currency platforms

There are over 20 e-currency platforms but as a Nigerian, you should put into consideration just three factors; 

1. Very easy funding and withdrawing methods
2. Transaction cost( how much they charge for you transactions).
3. E-currency security.

Now this is how the e-currency stuff works;

You open an account with a suitable platform.

You pay Naira to your platform who will then credit you account with the equivalent amount of Dollars or Pounds.

You use the money to pay for goods and products online including funding your Forex account!

However, these platforms are not owned or managed In Nigeria so you cannot make direct payment to them. You will have to pay through a Nigerian e-currency exchanger who would give you His/Her bank account number(a Nigerian bank), when they receive the payment you have made, they fund your e-currency account with the equivalent amount you paid for. Please be warned that most e-currency exchangers are fake so please work with the tested and trusted one.

LIBERTY RESERVE;

You can transfer money to another LR account, free of charge

It is accepted by over 15 forex brokers.

You can easily fund and withdraw from your LR account via e-currency exchangers in Nigeria.

You can use it to shop and receive payments online in shops that accept them.

You can buy other e-currencies, i.e e-gold, e-bullion, webmoney, etc with LR funds.

Your e-currency can be in puonds or dollars

It is more secure and user friendly-if you can put on a laptop then you can use LR.

To open a free LR account, click here!

ALERTPAY FEATURES:

Uses email address as login name-easily accessible.

Very secure system.

Accepted by over 15 forex brokers.

You can fund and withdraw from your account very easily via e-currency exchangers in Nigeria.

24/7 customer service(care)

You can exchange ALERTPAY funds for more than 8 e-currencies(LR, e-gold, e-bullion, webmoney, pecunix etc).

Your e-currency can be in over 10 currency types, eg USD, GBP, CHF,etc

To open free ALERTPAY account, Click Here!

WEBMONEY FEATURES:

Uses email address or Webmoney code as login name-easily accessible.

Very secure system.

Accepted by over 15 forex brokers.

You can fund and withdraw from your account very easily via e-currency exchangers in Nigeria.

24/7 customer service(care)

You can exchange WEBMONEY funds for more than 8 e-currencies(LR, e-gold, e-bullion, alertpay, pecunix etc).

Your e-currency can be in over 10 currency types, eg USD, GBP, CHF,etc

To open free WEBMONEY  account, Click Here!

For a list of very reliable Nigerian e-currency exchangers and how they operate click here!

Weekend Robot Development

Now that the weekend is here it's time to put on the thinking cap and figure out how to increase earnings, reduce risk or both.As mentioned in a reply to a comment on the previous post I've reallocated funds, put in a reserve amount and added a manual release amount.The reserve amount holds back capital from the lot size calculation and the total margin available calculation. This capital is

Forex Robot Wars

As you can see by my last few posts I've had a couple of trading robots slugging it out for the last few days.I'm happy to announce that the latest robot has absolutely thrashed my initial robot. Here are the recent earnings for this week:Sun 0.19%Mon 3.23%Tue 3.16%Wed 3.26%Obviously, I'm going to retire the previous robot, which earned at an average pace of approximately 0.5% per day, and

DAILY TRADING - THERE IS NO SPOON

Some people are asking me about the secret of daily trading. The answer is there is no secret. It is there for everyone to see but the question is, can you accept what you see.

Trading the daily chart requires patience, lots of it. That is what most of us lack. Patience. If you look at the longer timeframe charts, you will see that price will stop or hover around certain areas. That is your key point. Always start or stop trading around these key point.

The next indicator I use is CCI. CCI alone is a bit of a headache. So I smooth it out with MA. With the MA, I can see the direction of trade clearly. People say MA is a lagging indicator but I dont want to be early going to a party. I like to enter when the party already started.

The last advice is, there is no such thing as holly grail. You just cannot win all the time. The best that we can do is try to win as much as possible and lose a little as possible. In the long run, it would be profitable enough to stay trading. Otherwise you need to find another business to run.

Forex Brokers

There are over 50 FOREX BROKERS online, but i'm limiting our search to the top 10 Nigeria friendly forex brokers only! I rated the sites based on four very important factors

1. Trading Terminal.

2. Minimum Deposit/margin call percent

3. Deposit/Withdrawal method

4. Leverage offered

My Search results leveled out 7 great FOREX BROKERS you can always sign up with

FXOpen — the broker that supports MetaTrader 4 trading platform; deposits/withdrawals via WebMoney, e-gold, Wire Transfer, CashU, e-Bullion and Liberty Reserve; micro accounts from 1$, mini accounts from $100; free $25 bonus; regular trading contests; it operates for more than 1 year already and has a professional multilingual support team.

InstaForex — a rather new Forex broker that can boast a wide range of deposit/withdrawal options, one of the best conditions on the market, MetaTrader 4 trading platform and the 6% interest rate for non-Muslim trading accounts. InstaForex specializes itself on traders from Nigeria.

FXcast — this Forex broker introduced a 1 pip spread trading with its revolutionary FXcast Swing platform for small accounts. It offers MetaTrader 4 platform for $10 and larger accounts. FXcast offers almost every possible method to deposit and withdraw funds from the trading account.

LiteForex — a Forex broker with a very large member base and a long history, it offers MetaTrader 4 platform; WebMoney, e-gold and WireTransfer as payment methods; excellent support service and a guaranteed stability of one of the most trusted Forex brokers. Cent accounts are allowed.

Marketiva — the pioneer of the newbie-friendly Forex trading, Marketiva offers a very easy-to-use trading platform with a lot of functionality, as well as support chat and advisors’ chat; options for funds deposit/withdraw are WebMoney, e-gold, Wire Transfer, e-Bullion and E-Dinar. Cent accounts are allowed.

Forex-Metal — an independent online Forex and CFD broker. It has very competitive trading conditions: $0 commission on Forex trading, 1:500 leverage, Instant execution of orders, ability to trade all instruments from a single account. Professional team with years of experience to assist you with trading. Free demo accounts. State-of-the-art MetaTrader 4 trading platform. Daily FX news, charts and analysis. Over 40 FX pairs. Some major pairs with only 2 pips spread. Sign up bonuses for new accounts available.

Etoro-an independent online Forex and CFD broker. It has very competitive trading conditions: $50 minimum sign up deposit, 1:500 leverage, Instant execution of orders, ability to trade all instruments from a single account. Professional team with years of experience to assist you with trading. Free demo accounts. State-of-the-art MetaTrader 4 trading platform. Daily FX news, charts and analysis. Over 40 FX pairs. Some major pairs with only 2 pips spread. Sign up bonuses for new accounts available.

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Two Live Robots

Sunday evening I unleashed another trading robot. Here's how I set up my sub-accounts to do this in a reasonably safe manner.My initial or primary account is used to add or remove funds.Each robot trades in it's own sub-accountThis let's me track the returns for each robot in a trivial manner. It also means that each robot is 100% independent. If you do this be sure to name your sub-accounts

Oanda Robot Trading -- Cost Efficiently

If you are trading with Oanda, as I am, you are probably aware that you have to trade a fair amount before their monthly API fees are waived.However, there is an alternative. The first time I tried their platform, probably shortly after it was released, I didn't find it very inviting. However, about a month ago I tried again. Guess what? While I might not use the platform for discretionary