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.
Guinness Nigeria has officially begun rewarding consumers under its nationwide ‘Open For More’ National Consumer Promotion (NCP), with an impressive ₦17 million in rewards to 107 winners during the campaign’s first live draw held on July 31, 2026.
The inaugural draw instantly transformed the fortunes of consumers across the country, producing seven new millionaires, who each received ₦1 million, alongside 100 additional winners, who each walked away with ₦100,000. The milestone marks the beginning of a series of weekly live draws that will see hundreds more Nigerians rewarded throughout the promotion.
The seven ₦1 million winners are Marcus Barieepie, Ani Valentine Ogochukwu, Okafor Sochima, Taiwo Adebola, Zubair Rukayat, Oluwatobi Femi, and Ebubechukwu Okolo.
The live draw was conducted under the supervision of the Federal Competition and Consumer Protection Commission (FCCPC) to ensure transparency and fairness. Representatives of the commission present included Dr. Olubunmi Otti, Zonal Coordinator, FCCPC Southwest, and Mrs. Abosede Ogundeji, Surveillance and Investigation Officer.
Speaking during the draw, Ramanathan S, representing Guinness, said the promotion reflects the brand’s enduring commitment to celebrating and rewarding the consumers who have supported Guinness over the years.
“For decades, Nigerians have made Guinness a part of their milestones and celebrations. Today, we are proud to give back by putting ₦17 million directly into the hands of 107 consumers in our very first draw. This is only the beginning. Over the coming weeks, many more Nigerians will experience life-changing rewards as we continue to celebrate the loyalty of the people who have made Guinness part of their stories.”
He added that all weekly draws will continue to be streamed live across Guinness Nigeria’s official platforms, enabling consumers to witness the winner-selection process in real time and reinforcing the transparency and credibility of the promotion. He also encouraged eligible consumers nationwide to participate, noting that every valid entry presents another opportunity to win.
The ‘Open For More’ National Consumer Promotion offers consumers the chance to win ₦1 million every day, ₦100,000 cash prizes for 1,000 winners, and a Toyota Land Cruiser Prado as the grand prize. Altogether, the promotion will reward consumers with more than ₦400 million in cash and prizes.
To participate, consumers simply need to purchase specially marked bottles of Guinness Foreign Extra Stout or Guinness Smooth, locate the unique code beneath the crown cork or can lid, and enter the code via the designated campaign platform.
With ₦17 million already won in its opening draw, the campaign is off to a remarkable start, reinforcing Guinness Nigeria’s commitment to rewarding consumer loyalty through transparent processes and unforgettable experiences that go beyond the product. Consumers are encouraged to look out for specially marked promotional packs and follow Guinness Nigeria’s official communication channels for updates, winner announcements, and details of upcoming draws.
National Information Technology Development Agency (NITDA) has expressed readiness to deepen collaboration with Nigerian universities to promote research, innovation and technology-driven solutions to local challenges.
NITDA, UniAbuja
NITDA’s Director-General, Kashifu Inuwa Abdullahi, stated this when the management of Yakubu Gowon University, formerly the University of Abuja (UniAbuja), led by its Vice-Chancellor, Prof. Hakeem Fawehinmi, paid a familiarisation visit to the agency’s headquarters in Abuja.
Abdullahi said stronger collaboration between NITDA and tertiary institutions was essential to building a robust innovation ecosystem, developing practical skills and positioning Nigeria for technology-driven economic growth.
He stressed the need for increased investment in research, particularly in emerging technologies such as Artificial Intelligence (AI), Internet of Things (IoT), blockchain, cybersecurity and cloud computing.
“We need to invest more in in-depth research with universities to build a robust research ecosystem that will help us develop solutions.
“Research will focus on harnessing AI, IoT, blockchain, cybersecurity and cloud technology, among other emerging technologies, to improve our lives and grow our digital economy,” he said.
The DG described universities as critical talent factories required to achieve Nigeria’s digital transformation aspirations.
“NITDA has a vision to make Nigeria a digitally empowered nation. You (UniAbuja) are the talent factory, and we cannot achieve our vision without talented Nigerians.
“The only way to achieve that is by working with institutions like yours. So, we need to build talent,” he said.
Abdullahi also advocated the integration of AI education across disciplines in tertiary institutions, saying students needed practical digital skills to remain relevant in the evolving world of work.
“We can work together to explore ways of introducing AI across the board as a general study course in tertiary institutions.
“Elements of AI should be included in every field of study to equip our students with the hands-on skills for navigating the real world,” he said.
According to him, NITDA is already collaborating with key education sector stakeholders, including the Federal Ministry of Education, National Universities Commission (NUC), National Board for Technical Education (NBTE) and National Commission for Colleges of Education.
He said the agency was also working to promote digital literacy programmes across all levels of education to ensure that graduates acquire skills relevant to industry requirements.
Earlier, Fawehinmi said the university’s visit was aimed at seeking NITDA’s partnership and support in strengthening digital infrastructure and technology-based training at the institution.
He expressed appreciation for NITDA’s contributions to the Digital Geoscience Centre at the university.
The Vice-Chancellor said the university was willing to collaborate with NITDA on joint research, capacity-building initiatives and innovation programmes capable of contributing to Nigeria’s socio-economic development.
“We could go into partnership with you to provide data, collaborative engagements, staff exchanges and joint research hubs, so that we can produce high-level human resources.
“The university is committed to serving as a strategic academic partner to NITDA by providing academic expertise required to advance your national digital transformation initiatives,” he said.
The proposed collaboration is expected to strengthen the link between academic research and industry needs while creating opportunities for technology innovation, skills development and practical solutions to Nigeria’s socio-economic challenges.
A New Mexico court has ordered Meta, the parent company of Facebook and Instagram, to pay $567 million to address the alleged harms caused to young people by its social media platforms.
Meta
The ruling by Judge Bryan Biedscheid came in the second phase of a landmark trial concerning the impact of Meta’s platforms on children and teenagers.
The judge said $420 million of the amount would be dedicated to treatment services for young people, while the remaining funds would support awareness and prevention programmes, screening services and other related costs over the next five years.
The latest financial order comes on top of $375 million in civil penalties awarded against Meta in March after a jury found that the company knowingly harmed children’s mental health and concealed information about child sexual exploitation on its platforms.
During the second phase of the trial, prosecutors asked the court to order fundamental changes to Meta’s platforms, including measures to reduce addictive features, improve age verification and prevent child sexual exploitation through stronger privacy settings and increased oversight.
The court subsequently ordered Facebook and Instagram to introduce banner notifications and informational screens explaining their safety features, recommended practices and tools for addressing inappropriate comments.
The platforms must also regularly display the information, while an educational campaign in New Mexico will be subject to review by the state.
New Mexico Attorney General Raúl Torrez said the ruling sent a clear message that technology companies could be held accountable when their product designs knowingly exposed children to risks.
“Today’s decision is a victory for every parent who has worried about what social media is doing to their child and every child who deserves to grow up safer online,” Torrez said in a statement.
Meta said it would appeal the ruling.
“We work hard to keep people safe on our platforms and have been transparent about the challenges of identifying and removing bad actors and harmful content,” the company said.
The company said it remained confident in its record of protecting teenagers online and would continue to defend itself against what it described as claims that misrepresented the facts.
On age verification, the court said federal children’s privacy laws restricted Meta’s ability to apply certain verification tools to children under 13.
The court cited the Children’s Online Privacy Protection Act (COPPA), which limits the collection of personal information from children under 13.
Rather than imposing a blanket age-verification requirement exclusively on Meta, the judge ordered the company to continue improving its age-assurance tools in New Mexico.
The tools include the use of artificial intelligence to estimate users’ ages based on signals such as their social connections and the type of content they post and consume.
Meta was also ordered to attempt to develop a dedicated model for predicting whether users are under 13 within the next two years.
Additionally, the company must request proof of age from Facebook and Instagram users in New Mexico whom it estimates to be under 13.
Where Meta determines that a user is under 13, or under 18 but cannot determine a specific age, it must treat the user as being under the applicable age threshold until the user verifies their age.
The court further ordered Meta to partner with schools or a child-safety organisation to establish a reporting portal through which school officials can flag users suspected to be under 13.
Meta must also delete personal information it has collected from users under 13 and submit progress reports twice a year detailing its compliance with the court-ordered measures.
The ruling comes as Meta faces thousands of lawsuits from families alleging that children have been harmed by social media use.
The company is also preparing for another trial in California amid the growing litigation over the impact of social media platforms on young people.
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