Economy
Can You Make a Living Trading Forex?
Forex trading has a certain appeal to people who would like to be their own boss and work at flexible hours.
In the past, the market was restricted to big companies; however, the internet made it possible for everyone to trade currencies.
Although some people might call it an easy way to make a living, it is a huge risk, especially if you are trading a lot of cash. If you are a risk-taker and want to participate, read on for some tips on how to start making a living trading forex.
Trading forex
Before jumping into the market, you need to understand the concept of forex trading. It takes place between two parties in an over-the-counter market that is controlled by different banks in the major trading centres.
You can trade any time of the day at any hour that you see fit because there is no central location restricting you. It is all about buying currencies and selling them when their value hits the roof.
Amount of Capital Needed
Some people worry about the capital needed to start trading because they think that they must have a considerable amount of cash.
However, it is easier than they think as you can trade forex with any capital because of the availability of micro-accounts. You just have to make sure that you can afford to lose that amount without risking your ability to pay the daily bills.
Furthermore, the more you risk, the higher your earnings will be. Consider starting as a part-time trader, then become a full-timer when you are confident that you can make a living from it.
The Importance of Brokers
Making it into the world of trading on your own may be a bit hard. That’s why brokers, or middlemen as they are called in the forex market, are needed. They are the third party that makes the transactions easier and helps you find good bids. The number of brokers in the market is growing, and that’s why researchers at Observer recommend checking testimonials and looking for the most reliable brokers.
This is especially because no rules are governing the market. You should also ask the broker about the way to withdraw your earnings and the ease of navigation of their website.
Another reason why hiring forex brokers is necessary is because they can offer you a fixed or variable spread according to your deal. The perks of a variable spread are the ability to adjust your bid depending on the volatility of the market. However, volatility is a double-edged weapon because you can lose money if the value of the currency drops.
Putting a Successful Strategy
Understanding yourself and your goals will help you put a successful strategy. Before you start trading forex, you have to include the possibility of losing and winning in order to keep your expectations in check. Many factors affect your strategies such as your capital, patience, and degree of dependency on the trading money.
You get to choose the type of forex market according to your plan and whether you would like short or long-term profits. For instance, the spot forex market takes place as soon as you choose the currency pair you want to exchange.
On the other hand, if you want to earn profit in the future, you can choose between forwarding or future forex markets. The difference between them is that the future one will bind you with a legal contract regardless of the price of the currency at that time.
Consider checking the available strategies to help you in making up your mind. Some of the methods are day trading, scalping, and arbitrary trading. It is better to be flexible when it comes to changing plans after realizing that the initial one isn’t paying off anymore.
Certain factors can affect your plans such as the ratio between the risk and win rates. Even though trading forex is flexible, you have to teach yourself discipline and commitment to make money.
Predicting the Market
Although it is hard to guarantee the full return of your money, amount of profit, or cash you may lose, you can learn how to predict the market’s volatility. Some surprise moves may take place raising the value of the currency or dropping it to the ground. This can help some traders become millionaires while leaving others bankrupt.
Periods of sudden volatility are not that common, so there is always room for prediction. The most important risk possibility that you need to take into consideration is slippage. You should also know when you have achieved an edge on the market. This will help your capital grow and lead to great profits.
Understanding the industry will help you minimize the risks and increase the probability of making huge sums of money. It is better to start as a part-timer and test the market before throwing away a job that provides you with a stable income. Trading forex can be quite profitable in the long-term, especially if you put a sound strategy and deal with a smart broker.
By Aduragbemi Omiyale
The Stanbic IBTC Bank Nigeria Purchasing Managers’ Index (PMI) for the Nigerian private sector in July 2026 contracted to 52.5 points from 53.4 points in June 2026, a statement made available to Business Post has shown.
This occurred despite the business environment sustaining its growth last month, with an increase in new orders experienced, as inflationary pressures softened, and output and employment modestly rising.
The Head of Equity Research West Africa at Stanbic IBTC Bank, Mr Muyiwa Oni, said the PMI indicated that the private sector recorded its slowest since March 2026, as businesses also increased their input purchasing activity to keep up with current demand requirements and prepare for future workloads.
“Nigerian businesses reported improved customer demand in July while better pricing and new product launches also helped them to capture new orders arising from the increase in demand. These factors helped to keep the private sector activity in an expansionary territory, although this moderated when compared to June,” he was quoted as saying.
It was stated that while input costs increased at their slowest pace in five months, panellists reported higher costs for fuel and raw materials. Selling prices also softened in line with the picture for input costs in July.
Headline inflation eased slightly to 15.91 per cent y/y in June from 15.93 per cent y/y in May, snapping three consecutive months of price increases.
Although July inflation is likely to be higher m/m, it is expected to print lower, likely at 15.72 per cent y/y, primarily driven by favourable base effects from the corresponding period of last year, because there are no expectations of the magnitude of m/m inflation witnessed in July 2025 (1.99 per cent) to materialise this year.
“We retain our 2026 growth forecasts at 4.1 per cent as we see the oil sector growing by 3.45 per cent y/y in 2026, from 8.50 per cent y/y in 2025, while the non-oil sector is likely to grow by 4.11 per cent y/y, from 3.71 per cent y/y in 2025.
“The risks to our outlook include country-wide insecurity which may constrain food production, exchange rate pressures resurfacing, extreme-weather related conditions and higher fertiliser prices impacting crop yield, and a volatile global environment which may affect sentiment and constrain capital flows,” Mr Oni noted.
By Adedapo Adesanya
Sahara Upstream, a Nigeria-focused crude producer, has deployed a new 380,000-barrel tanker to boost exports from the OML 18 block as part of a wider push by domestic operators to invest in infrastructure and lift output and exports for Africa’s biggest oil producer.
The MT D Adesanya, which can hold more than 62,000 cubic metres of crude, will operate alongside the MT D Bayero, receiving crude from shuttle vessels at Bonny Anchorage, one of Nigeria’s main crude export hubs, before transferring it to the FSO Cawthorne storage facility.
Sahara said the tanker would help cut turnaround times, currently about 30 to 48 hours, and support a planned 50 per cent increase in exports from the block’s current level of about 950,000 barrels per month.
The block currently produces about 36,000 barrels per day, according to data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), with Sahara targeting output of 60,000 barrels per day.
OML 18 is one of the Niger Delta’s oldest producing assets. It began production in 1970 and contains an estimated 1.5 billion barrels of oil equivalent in reserves.
Shell, Total and Eni sold their combined interests to Eroton in 2015 as part of a broader shift toward domestic ownership in Nigeria’s upstream sector.
This development comes as Sahara Upstream is deepening its exploration and production footprint through Asharami Energy Limited (AEL), its upstream E&P business, which says it is targeting 350,000 barrels of oil per day by 2030 through its subsidiary, Enageed Resources Limited (ERL).
The growth target comes as AEL also marks a major safety milestone, achieving 6 million Lost Time Injury (LTI)-free man-hours in its OML-148 operations — reinforcing the company’s commitment to operational excellence and safety leadership.
According to Asharami Energy, the milestone reflects its ability to execute complex operations safely, in line with Sahara’s Beyond XXX vision, which builds on the group’s 30-year legacy of responsible enterprise while marking its next chapter of impact, innovation, and sustainable growth.
The developments position Sahara Upstream and its subsidiaries among the domestic operators driving increased investment in Nigeria’s oil and gas infrastructure, as the group works to scale up production and exports for Africa’s biggest oil producer.
By Aduragbemi Omiyale
One of the leading energy firms in Nigeria, Aradel Holdings Plc, has expressed its desire to optimise its enlarged portfolio and improve operational efficiency in the second half of 2026.
The company is planning to build on the success it recorded in the first half of the year, where it grew its revenue by 577 per cent to N2.5 trillion from N368.1 billion in H1 2025.
The significant rise in earnings was driven by higher production volumes together with stronger realised crude oil and gas prices, with the average at $90.4/bbl and $2.08/mmscf, respectively.
In the period under review, the Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) increased by 688 per cent to N1.4 trillion from N176.4 billion in the corresponding period of last year, while the operating profit surged by 789 per cent to N1.1 trillion from N118.6 billion due to higher revenue and crude handling income at N149.8 billion, partly offset by underlift cost and general and administrative costs.
The net cash generated from operations was N975.6 billion between January and June 2026 versus N140.8 billion in the same period of 2025, reflecting the cash generation of the enlarged organisation.
The net debt contracted by 70 per cent on a year-to-date basis to N46.5 billion from N475.1 billion as of December 31, 2025.
Aradel, in the period under consideration, improved its post-tax profit by 30 per cent to N191.0 billion from N146.4 billion, a development that impressed its chief executive, Mr Adegbite Falade, who said, “A firmer price environment supported performance, generating net cash from operating activities of N975.6 billion and a closing cash balance of N1.7 trillion.”
“Our enlarged portfolio provides more opportunities to generate stronger cash flow and returns for shareholders and unlocking that potential is our main focus.
“We reaffirm our full year production guidance of 110 – 140 kboepd and remain committed to operating responsibly in a changing energy landscape and to delivering lasting value for our stakeholders,” he stated.
