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Below is what I posted to all my forex students and friends after I quitted the devil's business!!
Read on:

"To all my forex friends:
This is hard for me to do but I have to do it
By the grace of our Lord Jesus Christ I am off with forex.

Recently I have decided to amend my ways before the Lord.
And I kept asking myself what about forex? Is this really good for christians?
Then I came across this after google searching:This is somebody saying=

"Is Forex and most other financial trading wrong or sinful for Christians?
I have stopped trading Forex altogether because I have developed serious ethical problems as a Christian with it.

Most types of financial trading are a zero sum game, even a negative sum game.  It produces NOTHING of value, no goods or services, and no wealth is created like in Stock Trading.  The net change in total wealth among traders is zero at the end of the day (sometimes even less!) - the wealth is just SHIFTED from one trader to another! (Reallocation of wealth. )

It is far too close to gambling for me (some skill, a lot of chance), and you make gains ONLY at another's expense! Jesus said that we should love our neighbor as we love ourselves.  How can you do that when you profit only at somebody else?s expense? It is a violation of Jesus? most basic commandment for humanity.  And to give to worthy causes from Forex earnings may be great, but the end never justifies the means! I personally consider Forex now essentially a form of legalized stealing and robbery.  The experienced Forex trader is committed to ?fleecing? those who are inexperienced!

Don?t pray and ask God to help you with your financial trading - he won?t! Don?t be deceived.

An agnostic has even said: ?In Forex you?re not doing any useful work, and you?re hoping to make a lot of money from it, right? Isn?t this really like stealing from the public? You?re hoping to get a lot of money from moving currencies around, and you?re not giving the world anything in return - except moving some currencies around.  I think that?s just like theft. ?

Mark 8:36: For what shall it profit a man if he shall gain the whole world and lose his own soul Or what shall a man give in exchange for his soul Whosoever.
We have to please God in every areas of our lives. 
Therefore I surrendered all.  unto Jesus.
Bless u if you shall also surrender all to Him. "

@Jidowu, thanks for exposing these 419ers yahooyahoo boys, they are very plenty here in this forum
and only God knows what the moderator is doing about them.   Thanks once again.

scam! scam!! scam!!!.
dont try it, unless you want to kiss your
money goodbye.

Has anyone in the house got experience with this company and how far it has been?  Pls share your experience(s) .  ( i. e the financial technology company)

Why should you follow complicated trading patterns and stress yourself with charts and analytical software
when you could simply enter easy and profitable signals within minutes?

1.  A currency pair - GBP/USD
2.  Set and Forget
3.   Check once daily
4.   500 pips per month guaranteed
5.   At affordable price - N5000 per month/$30 LR

Visit me @ www.  sundayogunbiyi.  blogspot.  com for details

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Post Merge: May 10, 2010, 07:48:51 PM

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Questions to Ask ? Answers to Know

What kind of capital can I expect to invest? ? So we have to accept that no matter what kind of trading we are doing, it will take some amount of money to get started.   The professional trader always focuses on the pip profit, not the dollar profit.  Which means you can start small.

How well do I know myself? ? Without a shadow of a doubt, if you don't know yourself, then you will never truly know what it takes to become a consistently profitable forex trader.  You see, it is not about the techniques as such, because there are many different trading strategies which have been proven to work over time.  It is also not about the currency pairs we trade, or even the leverage we use.  No, rather it is about how we as individual traders implement the trading plan and stick to a set of rules and guidelines.

Ask yourself these questions right now: "Do I get frustrated when I get something wrong?" "Do I like to take the odd gamble in life?" "Can I accept that trading should be methodical and routine, not random and exciting?".  If your answer is yes, or no, quickly join me and lets do it together.

I personally do not trust all these managed forex accounts.   I think 99.   9% of them are scam.    I prefer to trust my knowledge.   

you are right guy.  but instead of managed forex accounts system, why not be getting signals from reliable sources, like myself.  check me @ sundayogunbiyi. blogspot. com

Quote from: donlucky link=topic=8264.   msg235338#msg235338 date=1256364343

With the experience in Forex trading comes a rather disappointing realization that Forex is difficult.     You have read the basics, you have learned the indicators and charts, and you even found the right broker and opened a demo account.     You’ve got the tools, the tricks and a “winning” strategy.     If everything is in order, how come you are still not on the way to Forex riches? Where are the promised piles of money?!

Good analysis there donlucky, you are not far from the bitter truth at all.   

Forex is Simple but NOT EASY (big difference b/w simple and easy) as humans we tend to complicate things a

lot.   

All I can add is that the Ultimate Forex Formular is this:

A Simple Robust Forex Trading System + Rigid Discipline = Forex Success

I rest my case.   

These are the Characteristics of a Successful Trader-

1.  Adequate trading knowledge and understanding.  You should seek services of good quality
mentors and a trading coach.
1.  Adequate capitalisation ? Don?t be fooled that you can earn thousands every week from a
starting capital of $500
1.  Realistic Goals ? don?t expect 100% profit each month, it simply is not possible.
1.  Have patience ? don?t trade if you don?t have to.  You should wait for a set-up according to
your trading plan and system.
1.  Have Discipline to follow your rules
1.  Understanding and Managing Risk
1.  And lastly the most important is having a Trading System and a Trading Plan.  Virtually
90% of Traders that I have coached have never had one!
If you look at the advice from the world?s most successful people or traders today, you will notice
that they follow the guidelines as identified above.
pls visit me @ sundayogunbiyi. blogspot. com thanks.

Good strategy, but need to improve more on your skills, because the market is very dynamic, chek out  www. sundayogunbiyi. blogspot. com.  God bless you.

why not share your own forex problems, and how you were able to solve it for us to learn from, before we share our own worries or problems?

You?ll win if you don?t quit

The Bible is a ?David and Goliath? book.   It?s filled with stories of ordinary people whose faith overcame great obstacles and impacted the world around them.   That?s why John the Apostle writes: ?whatever is born of God overcomes the world. 

If you haven?t heard of Irwin Rosenberg, here?s his inspiring story.   As a junior officer he was discharged from the Navy when he was diagnosed with cancer.   That was the standard military procedure at the time.   But he was determined to get back both his health and his job.   At one point he was given only two weeks to live.  But through faith and dogged determination his cancer was eventually brought under control.   Irwin then focused his attention on becoming a naval officer again.   But he discovered that navy regulations forbade reinstatement of a person discharged with cancer.   Everyone around him said, ?Give up, it can?t be done. ?  It would take an Act of congress to get you reinstated, their advice gave him an idea, and he?d pursue an Act of Congress.   After years of waiting, petitioning, cutting through red tape and battling bureaucracy, President Truman eventually signed into law a special bill that allowed Irwin Rosenberg to reenlist in the Navy, and go on to become a Rear Admiral in the United State Seventh Fleet!

You must have heard of successful forex traders like Rob Booker, Andy Shearman, and Felix Homogratus who owns forexpeacearmy. com, they are winners today because they didn?t quit.
The poet writes: ?You can never tell how close you are, it may be near when it seems afar; so stick to the fight when you?re hardest hit, it?s when things seem worst that you mustn?t quit!?

I want to wish everybody a happy trading, especially this Christmas and the new year. 
My blog is at www. sundayogunbiyi. blogspot. com, cheers.

SUPPORTS AND RESISTANCES STRATEGIES

I want you to always watch out for supports and resistances.   The big banks and traders don?t sit with their EMA or whatever indicators, and buy or sell based on that.   They look out for supports and resistances to place their buy or sell.    So what is support and resistance?

Supports and resistances are points in the price of an entity (it can be a share or a currency pair or a commodity or any other entity) where the prices stall.   They have got more to do with history and user sentiment.   Lets say that the price of the entity is 5 to begin with.   It begins to rise and it keeps rising and seeing this price, more and more people would want to jump in and they keep buying and the price rises even more.   This means that the demand is more than the supply and as long as this happens, the price will rise. 

The price will continue to rise until a stage is reached where people start to feel that the price has become high enough or those who bought it early feel that they have earned enough profit.   Lets say that at this point, the price of the entity is 10.   So, people start feeling that the price has risen too much (this is also called overbought conditions) and slowly start selling.   The demand becomes less than or equal to the supply and the price slowly drops from 10.   As the price continues to drop, the people who plan to make money on shorts also jump in and the buyers (even though they might have very less profits or are in loss) start getting panicky and they start selling and the price starts falling more and also at a faster rate. 

So the price continues to drop from 10 and thus 10 becomes resistance, as the price has not breached 10.   Next time the price comes close to 10, the buyers and the sellers will look at past history and find that 10 was the place where selling started the previous time and so the buyers would want to get out at that point just to be on the safer side and so 10 becomes a even bigger resistance. 

The price drop from 10 continues and at one place, the opposite of the one explained above happens ie.   the users feel that the price has dropped too much (say at 2) and they start buying again and the price starts to rise again.   Thus 2 become the support. 

Remember, the greater the amount of time that a support or resistance has not been broken, the stronger it is.   Even yesterdays high and low are resistance and support respectively but they are not very strong as they are quite recent prices. 
The main focus of trading support and resistance is to profit from the price swings that occur in directionless markets.    Support and Resistance strategies start with the premise that markets are directionless 85% of the time.    The strategy attempts to take advantage of this price movement and catch the small swings that take place in sideways or choppy markets.       

Although support and resistance strategy is easier to trade emotionally, many traders don?t trade
this type of strategy because they miss the big move (by design).   The most
common indicator used with a support/resistance type of strategy is probably the
Stochastic Oscillator. 

The drawback of support and resistance strategies is that they usually lose money when the market trends.    To counter this of course, you place your order at the break of resistance or support.  This is called breakout strategy. 

IF YOU TRADE IT, YOU WILL ALSO MAKE PIPS. 

So be careful, watch out for opportunities, and get a feel of the market before jumping in. 

Again, feel free to contact me and let me know how you are doing, My e-mail is sundayogunbiyi@ymail.  com, also visit my blog at www.  sundayogunbiyi.  blogspot.  com to learn more.   

You can be a Forex success!


What makes a successful trader and trading system?

I have been inspired to speak from the heart today because every day I see a new advertised trading system being sold for $100 or more.  Why do you think you have to use an automated system to be a success? Are you afraid to trade the markets? Do you want to blame someone else for your loses? It?s time to understand what YOU have to do to succeed in building wealth for you and yours.  NO MORE LOSES!!!

First step?Education and Dreaming BIG!
Read everything.  Visit every website.  This process can take a year or longer; so what.  Do it! There are plenty of resources on the web and in your local bookstore.  In order to break through the blockade you must understand the history.  This is true with any venture taken on the path to a fulfilling life.  It?s time to take steps backwards to take giant leaps forward and remember our childhood; remember how we we?re educated and the experiences we had that contributed to who we are today.  The critical analysis of who we are will give you a purpose behind your trading.  It?s not about profits, it?s not about YOU! This is bigger than us and our small deposits are small peas in this big world! The real questions that should be asked are why we trade and what do we want out of it?
I would recommend demo trading as much as possible until you have not one, but many mental breakthroughs.  We are all given a unique eye to see the world; to act or react in given situations.  Newton?s law states that for every action there is a reaction.  Be aware of the implications behind every trade until it becomes second nature and you will be successful.  You don?t need to double or triple a demo account, just be consistent.

Step two?A strategy should be based on your risk appetite.
Opening your first account can be quite exciting and you?ll want to jump in and trade ASAP.  Be patient! Your strategy should be based on your risk appetite, so make sure you have an exit before you make any entries.  Here is a quote from Sun Tzu?s Art of War,

?The general who wins a battle makes many calculations in his temple ere the battle is fought.  The general who loses a battle makes but few calculations beforehand.  Thus do many calculations lead to victory and few calculations to defeat: how much more no calculation at all! It is by attention to this point that I can foresee who is likely to win or lose. ?

Ask yourself these questions:
1.  Do I hold on to losing trades?
2.  Do I add to losing positions?
3.  Do I have sleepless nights?
4.  Do I miss out because I over think entries or exits?
5.  Do I let missed opportunities get me down?
If you answered yes to more than one of these then the only person to blame is yourself.  You must improve on your thoughts and actions before you can develop an optimal trading strategy, go back to the drawing board.  To appreciate and understand the positive and negative experiences could bring enlightenment to you and your strategy.  When you can remove yourself and your emotions, you will see the market for the first time.

Step three?Greed, Fear, & Ignorance
I don?t want to write too much on these.  Albert Einstein summed it up pretty good when he said these 3 forces rule the world.  I would recommend studying psychology.  You will see how much it impacts markets moves.
In conclusion, I have seen successful automated systems and am not completely against them.  There are just way too many that have been optimized to look attractive.  I would recommend saving your money and investing in your own education before using an EA.  This isn?t for everyone and it?s ok to walk away.  You?ll be a better person through your experience.
Last quote from The Art of War,

?If you know the enemy and know yourself, you need not fear the result of a hundred battles.  If you know yourself but not the enemy, for every victory gained you will also suffer a defeat.  If you know neither the enemy nor yourself, you will succumb in every battle. ?

I speak from experience and I have failed.  I wish nobody to go through what I went through.  Sometimes you have to crawl through sh** to come out smelling like roses.
check my blog @ www. sundayogunbiyi. blogspot. com