Do you want to know about Uche Paragon, who is one of the richest forex traders in Nigeria? this article is centered on revealing the real identity of this famous Uche Paragon, as well as his Biography, Net worth, and every other thing you need to know about him

Uche Paragon Biography

Uche Paragon is an Entrepreneur, singer, Forex and commodities (oil and Gas) Trader, Portfolio, and Risk Manager. Uche Paragon is undoubtedly one of the richest forex trader in Nigeria with an estimated net worth of about $16 million.

Furthermore,Uche Paragon is a well-known name in the Nigerian online forex industry and requires no introduction to  forex trading enthusiast and people who frequent forex trading forums,groups and seminars across the country. He’s also known for his love of expensive cars.

However, Uche Paragon’s date of birth has not been made known to the public but it was revealed that he started earning millions of dollars from trading when he was 23 years old.

Uche Paragon Education

The educational background (Primary and secondary education) of Uche Paragon has not been made available on the internet, however, according to his Facebook page, he graduated from the University of Port Harcourt.

Career

Uche Paragon who has now become Nigerian’s richest forex trader started trading at a very tender age and before this time, he had already attended several forex trading training and seminars both online and offline and had taken a lot of time to study how to trade forex. According to Uche paragon, forex trading is certainly a complex trading system but through patience, diligence and fair practice, you’re very likely to master the ropes of the forex market and become a successful trader.

Then in 2007, he started trading Forex fully and started making some money from it, however, his specialties were in oil and currencies.

He also mentioned that his interest in trading forex was developed at a very tender age, and seeing the possibility of becoming successful with trading, he decided to go into studying it and also investing in it.

He also preferred trading Forex over stock and futures markets because Forex is accessible with a computer everywhere which makes it remote and cuts the need of having physical contact with the sellers or buyers.

According to  Vanguard in a private interview with Uche Paragon,

When asked what is important for success in Forex trading, he emphasized the importance of having trading skills. A lot of people lack this particular skill, and without a well-chosen strategy and profound knowledge – success does not come.

However, Paragon owns a trading firm named CCI traders and also owns a Forex school in Nigeria.

Uche is also into other things as trading is not the only thing he loves doing, he also sings, and writes music, he even has a record label called the Sky Beat.

Net worth

At the time of writing this article, Uche Paragon’s net worth is around $16 million.

Tips for Successful Forex Trading

Having a definite trading plan –a definite trading plan, which you can always work with, constitutes the ingredients of successful trading. For such a plan to yield success, it must incorporate your standards for evaluating currencies, your trading method, your level of risk tolerance and your expected trading profits. Nonetheless, you should always note that one important thing is having a definite plan while another is sticking to the plan all through.

Identifying trading opportunities –opportunities tend to find their way into trading situations and it behoves you to utilize appropriate tools in identifying these opportunities. Basically, you’ll want to use varying tools depending on whether you’re a fundamental or technical trader.

Technical traders utilize special analytical tools while fundamental traders zero in attention on financial and political news in deciding when to trade. By leveraging on the tools or informative data best suited for your kind of trader, you’re likely to identify trading opportunities and cash in on them in the long run.

Trading within Your Limits –in the real sense, what this means is avoiding costly risks; these are probably risks so great that they’ll cause you to lose more than you can afford. Trading within your limits implies that you align your leverage ratio with needs on the one hand and always ascertain what you’re ready to risk on the other hand.

As regards trading within your limits, making up your mind that you’ll do so is never enough. In reality, you have to imbibe the right trading habits.

Avoiding “revenge” trading –“revenge” trading is what occurs when you feel you should trade outside the purview of your trading plan. Perhaps, you’re doing this in hopes of making profits that will make up for a previous unfavourable trade.

By “revenge” trading, you’re allowing emotions to play into your trade and this clearly belies the principle of moderate trading. You can be keen to recover the loss encountered in a previous unfavourable trade but you should do this little by little while still sticking to your usual trading plan that works great.

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