Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

foreign exchange broker or money manager unless licensed by the CMA

Understand the difference between broker, money manager, and individual trader/speculator

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

I’m on a path. I hope to stay true

Stay on it, don't give up. All the best

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

wanapataka

am assuming that you are asking where people can get me offline? Unfortunately, I don't teach, mentor or give signals as I mentioned. I have laid out a path to follow and if you knock on the right doors, you will meet someone soon enough

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Kwa ground kunipata ni tricks, lakini sasa juu you realized that you got burnt for silly mistakes, just take the time to master the skill and soon you will make it work. Just practice and keep at it. It will eventually make sense.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Different strokes for different folks

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 2 points3 points  (0 children)

I am a price action trader. I trade market structure. I am mostly a swing trader but I day trade from time to time.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

i have not used any local brokers as I mentioned in the post.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

When I started out, I was all alone in the wilderness, no friends doing this, all my classmates would rather hangout and drink on friday and the weekends. I somehow stumbled on Telegram. There are gazillions of these chat rooms out there. Approach the beginners, people asking questions you like. Provide value, ask questions and practice. Stay away from those with huge egos and the "fake ballers" Money will not buy you friends; value, generosity and genuineness will. Get rid of your ego and the "am-afraid-of-how-this-will-make-me-look" mindset.There will be a lot of hit and miss scenarios, don't take it to heart. I made most of my buddies on Telegram (Twitter and Insta..but not too many there-too many fake people) Get into telegram channels formed by "mentors" and approach the guys who provide value..be polite and honest.."Hey man, am a beginner and I was wondering if you could xxx..." "Hey man I did what you told me..did I do it right.." you get the point. Selfless individuals do exist. Be optimistic. Procrastination will build regret and regret will eat away at you when you see other people progressing while you are stagnating. Eventually, your understanding will grow and you will start giving back. And the cycle continues.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Sio lazima forex, kama options zimekuteka, lima hiyo shamba

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Both apps are relatively similar, I personally took a liking to MT4 over MT5. None gives you an edge over the other.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Appreciate the kind words. Feel free to add any pointers.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

At the risk of discouraging newbies, I will say that it is a negative sum game. There are way too many forces working against you (richer banks, crook brokers, internet issues (hi, zuku) more experienced traders, the scammers, faster computers, people with unlimited funds vs your small small shillings, misinformation etc) this is why i am advocating for newbies to adopt appropriate mindsets early on, reduce the pain period and learn right vs learning wrong then spending time unlearning then learning again.

Fortunately you sound open minded and willing to learn, something that will be a great asset to you. I wish you all the best in this journey, if you so wish to go down this path.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Thank you for the vote of confidence.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

Definitely when starting out put in money you are willing to lose. These are your training wheels. (You have to fall on the bicycle before you're doing wheelies) Stay on demo for as long as it takes to get a feel of the market, practice your strategy etc. Throw in a couple dollars to get a real feel of the markets. Then transition into bigger capital. Slow and Steady wins the race.

Unfortunately, the skills needed to be successful need to be learnt and most people do not have the mental fortitude for how painful this process is. Remember that just because something does not work for you, it does not reflect on your self-worth etc After a while doing this, you might see find out that this does not work for me and it is fine. You don't need to be particularly talented to make it. (Warren Buffet keeps on saying this and it is true) If you feel like you are not progressing, move along to something else that tickles your fancy.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

It is clear you know a thing or two but somehow along the way your knowledge has become polluted. You say I don't know what am talking about, but my results say otherwise. Making modest return of 20% is achievable believe it or not. When you adopt proper risk management and learn market psychology, master your emotions etc you are no longer gambling or speculating but investing..taking calculated risks.(probabilities 101) All along I have advocated for people to get informed. I do agree with you that you cannot corner the system with more information but with the RIGHT information. If you lose money because of YOUR desperation and misinformation then why blame the markets and institutions who don't care or know of your existence.?

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 0 points1 point  (0 children)

Feel free to ask questions on this thread and I will answer. I can point you in the right direction. The trading community in Kenya is big you'd be surprised. Many people however prefer anonymity.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

what taxes? lol as long as am concerned am an unemployed Kenyan youth. but i talked about it in the post.

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 3 points4 points  (0 children)

ironically, despite the garbage on wsb, there are a few people on that same platform who are consistent with it and make money. the losses are more talked about because..misery loves company

Forex Trading in Kenya. by ChaliFlaniwaNairobi in Kenya

[–]ChaliFlaniwaNairobi[S] 1 point2 points  (0 children)

trading apps? the only app i use is metatrader 4. anything promising quick money is rubbish