5 rows · 17/03/ · 5 Most Successful Forex Traders in Kenya. Below are the 5 most successful forex traders in Fourth street Consultants also offers consultations and comprehensive courses on Forex trading. Edwin Kamau. Edwin Kamau is one of the most notable examples of the ‘young blood’ getting 18/07/ · A list of the 9 Most Successful Forex Traders in Kenya exclusive for Kenyan Traders (incl. videos + screenshots). We reveal ONLY the top regulated brokers. Search Best 06/10/ · The following article details some of the successful Forex traders in Kenya, who have made their names as connoisseurs of the Forex market. Who are these successful 01/06/ · Here are the top 10 Forex traders in Kenya in Joshua Matumo. We should start our list with a relatively less known trader in Kenya, even though he already managed ... read more
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Pairs Offered. OPEN ACCOUNT. Mugenda spent a large part of his time and effort investing in this pursuit, only to find that it did not pay off. Sometimes days passed before he was able to make a sale.
In all, the time invested was not worth the commission gained. This was when a friend of his introduced Mugenda to the world of forex. His friend was even kind enough to lend Mugenda the money he needed to get started and trade a bit.
Unfortunately, when this happened, Mugenda had yet to become acquainted with the world of FX. Subsequently, he lacked the knowledge necessary to make smart investments. Subsequently, he lost all of the money his friend had loaned him. Going back, disheartened by the entire ordeal, Mugenda probably thought that he would not get into the field of forex any time soon.
But in fact, is friend was generous enough to provide him another loan, this time taking the time to sit down and explain all of the nuances of forex trade.
When Mugenda went again to invest in FX, he was much more prepared and equip. Within a few months, Mugenda was making a reasonable income from his Forex escapades. From then on, his wealth continued to accumulate.
This past year Mugenda made headlines for his rapid acquisition of wealth as a Forex trader. As a young man of only 23 years of age, he is incredibly successful in this field. Mugenda was even able to go beyond Kenya and create Paris FX — a Forex company that has gained significant profits in the past few years. He no longer worries about money — as he is able to not only support himself, but also his family. He is able to provide an education for his younger siblings as well.
He has been absolved of his financial strife through the world of foreign exchange. Furthermore, Mugenda has gone and reached beyond his family. He has also gone out of his way to give back to the youth of his country. Mugenda is currently providing various mentorship seminars for the Kenyan youth. Despite all of this glory and financial stability that he has gained, Mugenda does not dismiss the significant concerns associated with Forex.
He explains that there are indeed significant losses that can be had. Moreover, Forex is a form of betting, so where there are gains, there will also be losses. After Githaiga graduated from college, he was unsure of what direction he wanted his life to go in. He thought about his prospects and decided that the traditional office job setting was not ideal for him.
As a result, he decided to open Google and search up how to make money online. This one Google search may well have changed his life. Through this simple Google search, Ken Githaiga came across the concept of Forex trading. Once he first heard of it, he chose to investigate further.
As he dove deeper into the subject, he determined that it seemed like a perfect job for him. Not only did it require less time sitting in front of a computer screen, but it incorporated numerical and statistical data that he found incredibly interesting. As a result, he decided to dive right in. That being said, Githaiga has emphasized that Forex is by no means his full-time job. In fact, it takes up a very small portion of his day-to-day life since he is able to check and modify his trades so quickly.
Githaiga gained most of the knowledge he has through the internet. He felt as though the local Kenyan traders were not as direct when providing advice on the realities and strategies behind Forex trading. If you lose money trading the market and then win a lot of money, you can simply go back to even. Learn as much as you can about trading based on price movement since this is the key to making a lot of money in the market.
If you can mimic some of these trader habits and use them with your existing expertise, you could improve your chances of making profitable trades. Position size, entry point, stop-loss exit, and take-profit exit are just some of the tactical details that successful currency traders consider when entering and closing a trade.
They understand that the focus should be on maximising profits and reducing losses rather than on establishing moral superiority. Having a cushion for new roles is essential for preparedness.
By doing so, they may better understand the pricing structures and trends in such marketplaces. It also reduces the volume of data and information that must be constantly monitored. Long-term success may be attributed to their careful risk management and vigilant guarding of their earnings. However, you should know that using stop and limit orders does not ensure that your losses will be kept to a minimum. Successful traders will only risk a tiny portion of their account on every transaction, regardless of how promising the setup seems to be.
By reducing the stakes on each transaction, successful investors may put the odds in their favour and benefit from the law of big numbers. Profitable forex traders anticipate future occurrences and evaluate how much the market has priced in or not priced in a predicted result. If they see a trend developing in the market, they prefer to ride it out rather than try to reverse it.
Successful forex traders must prepare for the following:. Their main interest is in the yields of major currency benchmark bonds. The best traders know how to control their feelings, and they know when to take a break if they feel their emotions becoming too high or too low.
However, some have found ways to make profits consistently. Most successful traders share the same characteristics and have achieved success after years of trading consistently.
Forex trading can be a lucrative venture for many traders. Forex trading is challenging and risky because the forex market is the most volatile and liquid market, with billions of people who participate in foreign exchange daily. There are some similarities between forex and gambling.
However, forex trading involves a lot more strategy and risk management than gambling. While there is no set time during which everyone can learn how to trade forex, it can take months, and even years, to learn how to make consistent profits, and even then, constant success is not guaranteed. There are several educational materials and resources available on the internet that can help you learn forex. However, it is recommended that beginners attend webinars, seminars, and discussions to further their knowledge of forex.
Trading leveraged products such as Forex and CFDs may not be suitable for all investors as they carry a high degree of risk to your capital. Is Forex Trading Legal in Kenya? How to Buy Safaricom Plc Shares in Kenya.
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How To. Cryptocurrency Wallets. Step by Step Guides. OPEN A TRADING ACCOUNT. This is an in-depth look at the most successful traders and their trading secrets. Who are the most successful Kenyan Traders? Who are the best forex brokers in Kenya? Tips to become a successful trader? Which brokers do these successful traders use? Louis Schoeman. Updated : August 31, Patrick Mahinge 👉 Patrick Mahinge is best characterized as a serial webpreneur as he has websites marketing amazon affiliates.
Sylvia Muchai 👉 In , Sylvia Muchai began trading currencies. Edwin Kamau 👉 Edwin Kamau is one of the most prominent instances of new people entering the Forex market and apart from being a prominent forex trader in Kenya, Kamau is also a banker. Paul Mugenda 👉 Paul Mugenda started trading forex in his 20s and he is the founder of Paris FX Kenya. Ken Githaiga 👉 The narrative of Ken Githaiga is one of the most engaging and thrilling in the business, particularly considering that it is relatable to any reader.
Silah Obegi 👉 In , Silah Obegi began his career as a foreign exchange trader. Vincent Nyagaka 👉 Vincent Nyagaka has over six years of experience as a forex trader. Joshua Matumo 👉 Fourth street Consultants was founded by Joshua Matumo, who also serves as its managing director. Regulations and Licenses 👉 This is the first vital component that traders must thoroughly evaluate.
Account Features 👉 Account Features include leverage trading and margin requirement, commissions and spreads, initial deposit, additional features on retail investor accounts, and so on. Deposits and Withdrawals 👉 Kenyans must evaluate the payment options available, the processing times on withdrawal requests, deposit currencies offered, the withdrawal fee, deposit fees, and minimum withdrawal limits among other trading and non-trading fees.
Range of Markets 👉 The range of markets offered refers to the number and range of tradable instruments that the broker offers. Customer Support 👉 Customer Support is another crucial factor and Kenyans must check the availability of support trading hours , the quality of support, and the promptness with which the customer support team responds to queries.
Education and Research 👉 Education and Research come in handy to both novice traders and experienced investors. The Best Forex Brokers in Kenya 👉 In this article, we have listed the best Forex brokers that provide forex trading to traders in Kenya.
Who are the successful Forex traders in Kenya? This is definitely one of the most asked questions in Kenya. Due to the high level of unemployment in Kenya, most Kenyans are optimistic to try out their entrepreneurial spirits. As the online forex industry continues to take Kenyans by storm, there have emerged some forex traders who have succeeded. These traders have proved that it is indeed possible to not only trade and profit but also become rich from the global forex market in Kenya. There may be a lot of successful forex traders in Kenya but I want to highlight the common ones in the public domain.
Entering the forex trading market and learning to trade has been easier than ever, thanks to educational websites like Benstride and various online trading platforms.
However, getting any success in this endeavor is not easy as one can blow up their account in a matter of a second without proper financial knowledge and risk management. One way new traders can learn is to learn from the best. Vincent Nyagaka is a forex trader with over 6 years of experience. He started working in a Sacco in Kiamokama Factory. But he was not satisfied with the amount they were being paid by the company by then.
He was earning Ksh. While working in the company he kept looking for a job but he would not find one. One of the days he landed on an article on a blog Kuza Biashara that was talking about various ways that one can make money online. According to Vincent Nyagaka, he decided to venture into forex trading over other ways that were enlisted on the blog on how to make money online.
Vincent decided to purchase some courses online and learn more about online Forex Trading. He later founded Benstride where he teaches learners how to trade Forex Trading. He offers free beginners forex courses and a premium forex course on his site. Vincent, his preferred Forex broker is XM. He can best be described as a serial webpreneur, he has websites promoting amazon affiliates but he claims to have made more money in forex trading than other ventures.
Patrick started trading forex in Patrick claims he had a very tumultuous start with forex trading. But he broke a fundamental rule and paid for it dearly. Patrick does not hold any academic qualifications in finance. He studied Journalism at Egerton University. After graduation, Patrick applied to different companies for a job as a journalist. Eight years down the line, he is still eager to hear from any of them. Sometimes he says he consoles himself that my application letter got lost in the post office.
Or the secretary at the reception accidentally shredded it with some other garbage. It was this desire to shine that first led him to online forex trading. Eight years ago, after failing to secure formal employment, he was sitting with a friend at a popular restaurant in Nairobi he was explaining to her how I might not be able to contribute to their Chama anymore.
It is awesome! He continued being drawn to online forex trading. What finally sold him to the idea of trading forex was not all the good qualities of forex trading, but the fact that all he needed to get started was a computer, capital, and an internet connection.
The list of successful forex traders in Kenya cannot be complete without Ken Githaiga. He started trading in After many weeks of searching and consulting, Ken Githaiga heard of online forex trading and the opportunities it offered to make money online in Kenya. From the moment he heard about online forex trading, Ken was determined to become one of the most successful forex traders in Kenya.
What followed was a journey of learning, consulting, and trading on demo accounts. Most of his knowledge was acquired from reading web articles on websites such as ForexFactory.
com and watching YouTube videos. Ken has recently started the Jay Forex Trading School where he trains aspiring forex traders how to become better forex traders. I think most of you have heard of Paul since he has been featured by most local media stations. In his mids, Paul Mugenda is already a very successful forex trader and a mentor for so many aspiring beginners in Kenya.
But like every other trader on this list, Mugenda was not always like this. It took many years of toiling and learning to turn him into one of the top forex traders in Kenya. In fact, before Paul Mugenda ever became a profitable forex trader, he had started as a tea leaves hawker in the busy Githurai 45 bus terminus and later worked as an insurance salesperson to several insurance companies in Kenya.
In , a friend introduced Mugenda to online forex trading. It would take him many months to finally perfect his trading strategies and become profitable.
Currently, Paul prefers to trade binary options. He has made a name for himself in the industry and is considered by many as the best binary options trader in Kenya. Silah Obegi started to trade forex in He is another successful forex trader in Kenya. Silah is also the founder of MetaCapital, a finance company that offers innovative trading solutions to forex traders in Kenya.
Sylvia Muchai started trading currencies in She is the real definition of pushing boundaries, and it is quite impossible to not admire her drive and charisma. It was a journey, however, that was paved with peril.
But that did not dampen her hopes of becoming a successful forex trader. Day after day, for two straight years, Sylvia sought information on how to become a successful forex trader in Kenya. She read numerous trading books, devoured the BabyPips trading course , opened numerous demo accounts, and attended trading seminars both online and offline.
During her initial trading years, Sylvia faced discouragement from forex trading mentors who would ask for an arm and a leg to teach her how to trade.
Even if she really wanted to learn how to trade, there was no way this fee was forthcoming. It was simply too much. The six above are the most successful forex traders in Kenya but we will keep updating you with more traders.
Esther Mofrey Is a Kenyan Forex trader who is very passionate to create content about Forex Trading, ie how to start Forex trading, Forex trading strategies. There before she used to sell fashionable clothes.
Basically, it depends on the amount of capital you have. You can make as much Ksh. Home » 7 Successful Forex Traders in Kenya. Join our Telegram Channel. In the article 1. Vincent Nyagaka 2. Patrick Mahinge 3. Ken Githaiga 4. Paul Mugenda 5. Silah Obegi 6. Sylvia Muchai 7. Esther Mofrey Frequently Asked Questions How much do Forex traders make in Kenya Related. Read More Jomoaa Micro Enterprises: All you need to know about it.
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01/06/ · Here are the top 10 Forex traders in Kenya in Joshua Matumo. We should start our list with a relatively less known trader in Kenya, even though he already managed Choose your quick section of our Forex Traders in the World below. 12 Best Handpicked Forex Traders in the World Revealed: George Soros Stanley Druckenmiller Bill Lipschutz Andrew 06/10/ · The following article details some of the successful Forex traders in Kenya, who have made their names as connoisseurs of the Forex market. Who are these successful 5 rows · 17/03/ · 5 Most Successful Forex Traders in Kenya. Below are the 5 most successful forex traders in One of the most successful Forex traders on the African continent, Simz D’mandla is the founder and CEO of Trade4Africa and The African Millionaires Program. D’mandla began trading on 18/07/ · A list of the 9 Most Successful Forex Traders in Kenya exclusive for Kenyan Traders (incl. videos + screenshots). We reveal ONLY the top regulated brokers. Search Best ... read more
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