General News
The Winning Habits of Successful Forex Traders
By Abiola Akinyele, General Manager of FXTM Nigeria
Who is a forex trader?
A forex trader is an individual who exchanges one currency for another in the global financial market. The financial market is an over-the-counter (OTC) market, where financial instruments are traded. It is considered the largest and most liquid market in the world, with a daily turnover of over 5.6 trillion dollars.
Anyone who wishes to become a successful trader is responsible for honing their skills through education and consistent practice. At FXTM, we believe educated traders are successful traders, which is why we run very detailed seminars and workshops, both at an introductory and advanced level at our offices and training centers here in Nigeria.
Anyone can train to become a disciplined trader, through self-analysis to see what drives their operations and also learning from their mistakes &forex psychology.
It is a fact that successful traders think and act differently. They usually have specific habits and usually follow a series of steps or patterns which guide them daily as they trade in the markets.
When you start trading forex, you know that it can be very lucrative and rewarding, but this does not mean that you do not have risks, or that 100% of the time you will be successful. It is important that you master the basic concepts and understand the foundations necessary to excel to become successful.
Get going!
To achieve what you want, you must focus on trading and make it part of your daily actions. You must alsounderstand that behavior is an integral part of the trading process and thus your attitude and mindset should reflect the following attributes. Let’s have a look.
- Manage your money
There is not a single successful trader who does not know how to manage their money. The art of understanding money management – knowing how much you can invest and afford to risk, in addition to being able to establish the appropriate losses and thus take profits at the right time, are skills that are indispensable and that you must acquire. You must preserve your capital always and at all costs, in order to possibly generate wealth in the long-term.
- Manage your emotions
Remember that in forex trading there is no place for emotion of any kind.If both the winners and the losers act in the same way, the operations will be executed in a more professional manner and without drastic changes.
You can achieve this with calmness and dedication; for example, if you are upset because one of your trades is experiencing losses, try to take a break from the trade. You can reintegrate once you have calmed down.
Avoid making any emotional decisions, as this can lead you to commit commercial mistakes and disasters that will result in losses.
- Take advantage of demo accounts and use them until you are ready
Demo accounts are usually a great way to test the waters in a place where it is not risky since you do not lose real money.
This applies above all if you are a newbie and so you can try different trading platforms. But once you feel very prepared to start a live account, you may try it, and take a chance.
- Run your winners in order to have as many benefits as possible
Now, in the financial markets, there are many beginners who think that the best traders are the ones who are always right. This is a myth because in the world of trading, not everything is theory.
Then, once you have found an asset in which you are good, hold on to it and learn to polish that skill. You should always learn to obtain benefits that are significant enough as this is the only way in which you can cover your losses.
- Cut losses early
By taking into account how difficult it is to beprofitable in the competitive forex world, you must keep an eye on them and are willing to cut losses ahead of time, even if they are your profitable trades.
This means that when the market moves against you, you should not trust that it will return soon. Of course, unless there is a signal that is clear and precise and expresses what will happen in the market, in that case, leave soon and go to the next, always with the hope that it might beprofitable.
- Learn from your mistakes and see them as knowledge
You learn while doing it. That is why you should not allow a bad experience to truncate the path to success.
It’s a learning curve that would allow better decision-making in the future.
- Find the perfect strategy and repeat
It is well-known that trading can belike a big battle to take money out of the market. And to be able to achievethis in the most appropriateway, you will need a repeatable and efficient strategy that works for you in the long run. The market is always changing, which means that you will sometimes need to make adjustments to your strategy. That way, you will mightmore chances to win if you can find a way to make your strategy works. Don´t waste more time.
- Separate your life habits from the trading habits
It is important that you can make time and maintain a balanced lifestyle to your life outside of trading. Having a healthy and calm lifestyle requires that you take regular breaks from trading during the day. This will help you to make better trading decisions and as a result, you will have more chances of being successful.
- Search and use methods that have been tested and you can prove it.
Do not believe everything you read and see on the internet, remember that it is a minefield of lies and people seeking profits on the backs of frauds.
That is why you should look for a real test of the methods that are being promoted to you and verify that they really work well.
This insurance process can include going with current trends, also reducing your losses, in case you are seeing a benefit, or letting go.
- Never forget the risk / reward
Do not forget that there is always a risk before a reward. The ratio of risk to reward is not going to be the same all the time, due to the fast-moving nature of the financial market. There are times when it may seem that you are failing in the trade with the risk you see, only so that everything can become a reward in this way.
Then you can proceed to make your withdrawals and they can be about half of your returns or even less. Youmust pay attention and definitely not expect for every tradesto produce profits every time.
- Keep a trade journal
By having a trading diary, you can keep a record ofyour winning positions as well as the losing ones. It is also important to also point out the characteristics that led you to that position, and be able to analyse these results.
It is necessary to be very orderly in the life of a trader, since keeping a record of trades gives the trader a really objective platform and thus be able to better understand both their options and their decisions. All of these are importantin order to improve the process of trading.
- Take responsibility for your movements
This habit is linked to controlling your emotions, with the difference that this time you mustn’t just control your emotions, but that you have to accept them.
You must take responsibility for each of the movements/decisions you make, and you should not blame anyone for your losses. Equally, this means no one but you gets credit for your profits. Do notinvest in more than what you can afford to lose.
- It’s not just habits that make the trader, it’s the personality too
Habits are important because they form a routine for the traderand make them a person who follows certain steps that will lead him to their next gains. However, personality also plays one of the most important roles in being successful trader andit is the perfect complement for these habits to work in their entirety.
A trader must have a defined personality in order to predict a pattern of behavior that will not only help them to understand the market better, but also the way in which the same trader manages that market.
For example, there are traders who are calm and determined; in case they are not 100% sure of a trade, they may decide not to go ahead withit and thus maintain their current balance.In this way, they remain a cautious and patient trader.
At the same time, there are traders who take risks and this can lead them to have big profits,or big losses. Regardless of personality type, the important thing is that the trader knows themselves, knows what kind of habits are indicators for them and whattheir movements are in the market.
Summary
Finding at least one advantage in forex trading will help keep you in a superior position; having good tradinghabits can certainly be one of these advantages.
These habits that were explained previously serve for all types of traders, since if there is something that all successful traders have in common, is that everyone must maintain good habits in order to be successful. Organize yourself and create a routine with habits that couldlead you to success.
NLNG and the Nigerian Content Development and Monitoring Board (NCDMB) have commenced the construction of a research and innovation centre at Rivers State University, aimed at strengthening indigenous capacity in computer and electrical engineering.
The NLNG Research and Innovation Centre for Computer and Electrical Engineering (RICCEE), which was inaugurated yesterday, is the company’s largest Human Capital Development Institutional Strengthening project to date.
The centre is expected to provide specialised training, advanced research facilities and technological solutions for challenges in Nigeria’s energy and industrial sectors.
It will also house a professorial chair and operate as a research and development centre where industry-focused solutions, particularly for NLNG, can be developed and potentially commercialised.
Speaking at the groundbreaking ceremony, NLNG’s Managing Director and Chief Executive Officer, Adeleye Falade, described the project as a strategic investment in the country’s future and evidence of the company’s commitment to sustainable human capital development.
Falade, who was represented by NLNG’s General Manager, External Relations and Sustainable Development, Sophia Horsfall, said the facility would improve the university’s ability to produce highly skilled professionals while ensuring that research responds to industry needs.
He said the centre would also help bridge the gap between academic knowledge and practical industry requirements by creating opportunities for researchers and professionals to work together on innovations with commercial and developmental value.
Felix Omatsola Ogbe, the Executive Secretary of NCDMB, represented by the Director, Capacity Building, Abayomi Bamidele, said the project marked an important step in advancing the Board’s Human Capital Development objectives.
According to him, the centre is part of the Board’s Institutional Strengthening Programme, which seeks to build lasting partnerships with higher institutions through infrastructure that supports teaching, research, innovation and practical skills development.
Ogbe challenged the centre to emerge as a hub for discovery, creativity and technological advancement, where students can develop innovative ideas, researchers tackle real-world problems and industry can find reliable research and development partners.
The Vice-Chancellor of Rivers State University, Prof. Isaac Zeb-Obipi, said the project aligned with the institution’s 2026–2030 strategic plan, particularly its focus on research collaboration, innovation and entrepreneurship.
“We envisage the Centre as a world-class hub where researchers and students can develop practical solutions to engineering and technological challenges, where university-industry collaboration can flourish, and where innovative ideas can be transformed into useful products, technologies and services,” he said.
The centre will occupy about 9,336 square metres within the university and include specialised laboratories for electronics and signal processing, robotics and embedded systems, software engineering, and digital forensics and cybersecurity.
The facility will also feature solar energy provisions, energy-efficient lighting and other environmentally responsible systems designed to reduce operating costs and support reliable research activities.
RICCEE is one of NCDMB’s Institutional Strengthening Projects designed to improve learning institutions through modern infrastructure, research facilities, technical equipment and training aligned with industry needs.
General News
NITDA Seals Strategic Deals with Goose FL and Fireflies AI to Power $1 Trillion Digital Economy Vision
In a significant step toward expanding Nigeria’s tech footprint on the global stage, the National Information Technology Development Agency (NITDA) has signed strategic Memoranda of Understanding (MoUs) with Canadian tech companies Goose FL and Fireflies AI.
The signings took place during the Nigeria–Canada Investment Forum and the Nigeria Investment Economic Conference in Toronto, Canada, witnessed by NITDA’s Director-General, Kashifu Inuwa Abdullahi.
The strategic partnership centers on three core pillars designed to accelerate the nation’s digital roadmap:
- Expanding Financial Inclusion: Developing innovative technology solutions to broaden access to digital financial services and create sustainable economic opportunities for underserved communities.
- Deploying Local AI Infrastructure: Establishing indigenous Artificial Intelligence infrastructure and services to strengthen Nigeria’s internal capacity to build, manage, and benefit from AI technologies locally.
- Building a Stronger Digital Economy: Driving long-term economic growth through strategic global partnerships, technology transfer, innovation, and digital capacity development.
This international collaboration directly aligns with President Bola Ahmed Tinubu’s vision to grow Nigeria into a $1 trillion economy by 2030, anchored by innovation, digital technology, and human capital development.
By forging key global ties, NITDA continues to position Nigeria as a rising leader in the digital economy, ensuring that emerging tools like AI deliver real, tangible value for local citizens and businesses.
Anambra State Government says it is exploring partnerships with the Federal Government and other stakeholders to extend digital connectivity to underserved rural communities across the state.
The Managing Director and Chief Executive Officer of the Anambra State ICT Agency, Mr Chukwuemeka Fred Agbata, disclosed this during a virtual media engagement with journalists on Thursday.
Agbata said rural connectivity remained a major challenge because telecommunications operators were often reluctant to invest heavily in communities where network deployment might not be commercially viable.
He said the state was willing to explore opportunities to leverage Federal Government infrastructure and the Universal Service Provision Fund (USPF) to extend connectivity to underserved communities.
“We understand what digital inclusion means because we are dealing directly with these communities,” Agbata said.
According to him, the objective is to ensure that rural residents are not excluded from the benefits of digital government and the wider digital economy simply because of where they live.
Agbata said the effort formed part of the state’s broader digital transformation agenda, which is targeting deeper digitalisation of government services and a more digitally enabled business environment by 2030.
He said the second phase of the agency’s digital transformation agenda would focus on e-governance, digital infrastructure, smart government and the use of emerging technologies to drive development.
“My core vision is that we would have digitised every single government entity in Anambra State,” he said.
The ICT boss said the digital transformation agenda would extend beyond government ministries, departments and agencies (MDAs) to businesses and residents across the state.
He said the agency was already developing websites for government MDAs and transforming them from mere information platforms into channels for delivering government services.
“We are building websites for all the MDAs. We are also automating them to be able to carry out services and give government support and government services through their websites,” he said.
Agbata said the initiative would reduce the need for citizens to physically visit government offices to access basic services.
He said the Smart Anambra platform had already demonstrated growing demand for remote access to government services.
According to him, the platform recorded about 14,000 visits between July 9 and July 29, averaging approximately 700 visits daily, despite limited publicity.
He said the data indicated that residents were interested in accessing government services online, including applications, permits and identification-related processes.
“What the data is already showing us is that we really need to build a system that allows people to actually get government services remotely,” Agbata said.
He explained that the objective was to allow residents to initiate processes online, complete forms remotely and only visit government offices where physical presence was eventually required.
This, he said, would reduce the time and cost citizens spend travelling to Awka or other government offices to access services.
Agbata said services in areas including hospitals, schools and other government processes were being connected to Smart Anambra.
Anambra Targets 2030 for Digital Government
Agbata said the state’s 2030 target was to deepen the digitalisation of government services and create an environment where businesses could increasingly operate within the formal digital economy.
He said the agency was working with the Ministry of Commerce to promote the formalisation of businesses, particularly SMEs and businesses operating in major markets.
“One of the biggest challenges that we have is that SMEs are not formalised enough,” he said, adding that the agency was exploring partnerships to address the challenge.
The ICT agency boss said the transformation would be gradual because major government initiatives required the necessary approvals and resources.
On the possibility of making Anambra completely paperless, Agbata disclosed that the State Executive Council was already operating a paperless system.
He, however, said the entire civil service might continue to operate a combination of digital and paper-based processes for some time because of the complexity of government operations.
“What might happen is a dual situation,” he said, adding that selected MDAs could be used as pilots for deeper digital transformation.
Agbata also disclosed that the Anambra State ICT Agency had commenced the deployment of a locally trained artificial intelligence (AI) system to automate its operations and explore applications in governance, revenue management and public-sector productivity.
He explained that the agency did not develop a frontier large language model from scratch because of the huge computing and financial resources required.
Instead, he said, it adopted an open-source model, modified it and was training it for specific local use cases.
“We have started doing our own local AI system. It is an open-source system, so we didn’t build our own frontier model. We basically looked at open source and modified it, and we are training it,” Agbata said.
He said the system had already been deployed to automate the agency’s operations end-to-end.
“We have used it to automate our agency end-to-end. Everything that we do now is currently automated,” he said.
Agbata said the agency was exploring how the model could be applied across other areas of government to improve productivity, address revenue leakages and strengthen governance.
He said the AI initiative formed a major part of what he described as the agency’s “2.0” phase following his reappointment by Gov. Chukwuma Soludo.
According to him, the second phase would build on achievements in infrastructure, capacity development, e-governance and smart government while placing greater emphasis on AI and emerging technologies.
Agbata also said the state’s free public Wi-Fi initiative remained operational, stressing that the programme was introduced before the electioneering period.
“The free Wi-Fi didn’t start as a political thing, a campaign thing. It started way before the campaigns,” he said.
He explained that the strategy was adjusted during the campaigns to enable residents to follow the governor’s activities and participate in live engagements while on the move.
According to him, existing Wi-Fi locations, including facilities at the state Secretariat, remain operational, although occasional downtime occurs, particularly during periods of adverse weather.
“There are downtimes now and then because with the rains and all of that, these things have their uptime and their downtimes, but it is still very much available,” he said.
He disclosed that there were currently no plans to establish additional Wi-Fi locations, noting that existing sites were still providing services.
Agbata said the state would continue to develop digital skills and education programmes, including Smart Schools and other capacity-development initiatives.
He also called for stronger collaboration among government, technology companies, telecommunications operators, local technology manufacturers and other stakeholders to accelerate the state’s digital transformation.
He cited the procurement of about 2,000 computers supplied by indigenous technology company, Zinox, as an example of the state’s engagement with local technology providers.
Agbata said the agency would remain open to partnerships capable of supporting Anambra’s technology agenda.
He said the ultimate objective was to build an Anambra where residents and businesses could increasingly interact with government digitally, while technology becomes a central driver of economic development across the state.
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