YerYer:


Thanks bro. I saw one broker called Avatrade, looks like they allow Nigerians to trade options but I'm not sure.

There was a time I registered with them many years back when I wanted to start forex trading. They have office in jabi Abuja.

YerYer:


Congrats bro. You were bold to buy that many shares and you held them for this long. You saw it rise to $9 then drop to $7. I bought a few call contracts on monday and I'm up 231%. I was planning to hold it till tomorrow but as I see you've sold your shares, make me sef no get greedy.

I'm eyeballing another biotech stock GNPX, I will like to buy at $2.30/share.

Thanks bro.
You truly followed the stock's oscillation.
I am naturally patient with my stock picks until they get to my minimum target.
Better to take your wins before it turns south in this highly volatile and unpredictable era of the world markets.

As for GNPX, I followed it last year and saw how it made many rich in the last quarter of 2019.
Could there be anything like a repeat?
We watch.

Tabuse20:


Oga OakPearl, make I send account number? jokes aside, you do know how to pick these penny stocks. More loot for you this year. Nice one

Na leaner I be oh my bro.
You stop knowing when you think you know it all.

1kinggy:


Doing it like a boss!

We still learning bro.

seyisanya:
Every investor that bought most US stocks between mid-march and end of march are raking in a decent profit since early April while some doomsayers are screaming ''CASH IS KING'' from the rooftop. Congrats boss! I wish I could ''LIKE'' your comment more than once!

A closed mind has only one perspective and stays blinded by it, thereby making a shift in paradigm near-impossible.

Pesbest:
As a newbie in stock and option trading

What are the basic things to know/learn first or rather how is the learning curve/path exactly for more informed trading decisions?

Thank you sir.

@yeryer
@okapearl

I endorse YerYer's earlier response to your queries.
Once the mind is ready, you can be what you want to be.
Develope a voracious appetite for studying about the market and trading and follow practical daily developments as they happen.
No one was born a genius.

EngrIKEM:

congrts sire, im a new baby here loving your progress,whats the minimum amount one can have in his account before thinking of buying shares and the least of shares one can buy?

I am not aware of a minimum amount but the least someone I know has invested is $100.
That was an equivalent of N36,000 then in December 2019, now N42,000 equivalent.
Now there lies the wisdom in investing in dollar denominated markets.
Without a single trade, you record gains as often as the naira depreciates.
You are all wise men here I can tell.

EngrIKEM:

congrts sire, im a new baby here loving your progress,whats the minimum amount one can have in his account before thinking of buying shares and the least of shares one can buy?

Let me chip in here, I use one of this new apps to buy US stock

I deposited 20 dollars which was about 7300, which was the minimum and I use the 20 dollars to buy Alibaba stock, I got a very very very small amount of shares. Lol. I was a novice then and learning

With a minimum of 20 dollars you can buy and company shares you want.

OakPearl:


I am not aware of a minimum amount but the least someone I know has invested is $100.
That was an equivalent of N36,000 then in December 2019, now N42,000 equivalent.
Now there lies the wisdom in investing in dollar denominated markets.
Without a single trade, you record gains as often as the naira depreciates.
You are all wise men here I can tell.

No need to say more. Lol

Tabuse20:


Spot on, YerYer. I have improved on reading financials of companies via the methods you mentioned. Yahoo Finance is also a great resource too. I predict that this thread will also be a huge resource too moving forward as we all grow and read different, views opinion and picks from all. Well done too.

Word!

I just opened an account with Chaka, are they good and how much do they charge.

lastclaire4:


Some called me just from Ireland just after I finished typing and she said yes I could trade on stock options. She asked me if I needed help. I told her i will go through and get back to her if necessary.

I decided to find out somethings on YouTube and decided to see how it works. But what I found was not encouraging. A woman actually talked about how they operate, going by what she said, in my opinion people should stay away from it. You can watch the video using this link.


https://www.youtube.com/watch?v=jQ7dRo3HlNQ

Damn that's a scathing review. I guess buyer beware.

Blackethics:

There was a time I registered with them many years back when I wanted to start forex trading. They have office in jabi Abuja.

Are they reliable? Can you recommend them?

suzzyrims:




Trove has a demo account. Click on the dropdown at the upper right section in their home page. You would see an option to switch to demo account.

Thanks, I got it.

YerYer:


Thanks bro. I saw one broker called Avatrade, looks like they allow Nigerians to trade options but I'm not sure.

Try www.choicetrade.com they allow Nigerians and they trade options too.

naijaman0817:


Try www.choicetrade.com they allow Nigerians and they trade options too.

Have you reviewed the costs involved?
Quarterly fees
Monthly fees etc

naijaman0817:


Try www.choicetrade.com they allow Nigerians and they trade options too.

I just looked at their site and they charge $0.4 per option trade which isn't bad at all. This is good news, hopefully anyone interested in trading options can sign up and give feedback.

kunlef1:


Yes, I did buy GTB shares with them in early March, and my trove wallet was credited with my dividend the same day GTB paid. The amount of stock will show on your portfolio just like the foreign stocks too.

I intentionally chose not to use Chaka because I do not want the hassle of stockbrokers and CSCS.I do own GTB stocks offline too, and I have never received dividend for over 8 years. When I took a day off work to visit their registrar in Gbagada with a signed and stamped form, I was told that I need to still go back to my stockbrocker and CSCS to get some other forms signed and then bring it back because I purchased from the secondary market, so they do not have my signature on their file. Ofcourse I abandoned the effort to retrieve my unclaimed dividends again, maybe forever. But I will never have any direct dealings with Nigerian stockbrokers, registrar or CSCS again. Imagine having to go through that process for every company stock I own. It is just madness.

So, except you are really planning to buy a lot of shares and keep for many years, which might be worth the hassle, Trove may be a better option.

You can still recover all your unclaimed dividends without necessarily appearing in person.
Do a banker's confirmation of signature addressed to the registrars for GTB (Data Max Registrars), download their e-dividend mandate form on the link below (no. 6) and fill, attach a valid ID card and photocopy of your utility bill and sign a written letter asking for your unclaimed dividends stating a few details of your shareholding history.
Scan and send all the above documents to their email requesting for payment of your outstanding dividends.
Good luck.

http://sec.gov.ng/public-notice-the-e-dividend-mandate-activation-forms-of-various-registrars-are-now-available-for-download/

YerYer:
I just bought a few shares of Genprex (GNPX). This is a small biotech company and they currently have drugs in the pipeline to treat lung cancer and diabetes. This is a small cap stock that used to trade at $18 just two years ago. The chart looks good here and a move to $3 will value this company at over $100M. This is a very risky trade and it may not materialize.

I remember watching it helplessly as it bounced making excellent gains for consecutive days.
"Helplessly" because it was not and is still not yet added to the trading board on Trove.

YerYer:
I just bought back some more shares of Inovio pharmaceuticals (INO). This is one of OakPearl's favourite stock. Made some money on the option but il now buying the shares, I believe it has more legs to run. One analyst has a price target of $35! I set a sell order at $8 to take me out. Trade carefully.

True.
I have enjoyed rides on two trips with this stock.
Waiting for another low entry if possible.
Caveat: This in my opinion is a short term play favoured by the coronavirus pandemic.
An end to the pandemic could mean an abrupt end to the "ride".
Traders beware!
NOT A BUY OR SELL RECOMMENDATION.

OakPearl:


I remember watching it helplessly as it bounced making excellent gains for consecutive days.
"Helplessly" because it was not and is still not yet added to the trading board on Trove.

Kai, you missed massive gains. It moved from like $1 in march to like $7. I think Trove didnt list it because it's a micro cap stock.

OakPearl:


True.
I have enjoyed rides on two trips with this stock.
Waiting for another low entry if possible.
Caveat: This in my opinion is a short term play favoured by the coronavirus pandemic.
An end to the pandemic could mean an abrupt end to the "ride".
Traders beware!
NOT A BUY OR SELL RECOMMENDATION.

Absolutely, I'm currently up, I might sell or hold till $16

I don’t want to miss this thread. So I will pitch my tent here.

AM INTERESTED IN BUYING CRUDE OIL FOR LONG TERM STORAGE ANY SUGGESTION REGARD WITH IT AND PROFITABLE COMPANY TO PARTNER WITH URGENT NEEDED PLEASE.

YerYer:


Kai, you missed massive gains. It moved from like $1 in march to like $7. I think Trove didnt list it because it's a micro cap stock.

My brother, no be small miss.
But as always, the stock market is like being in a bus station.
If you miss the bus, another one is sure to pull up soon to take you on a ride.

The bolded is true.

OakPearl:


True.
I have enjoyed rides on two trips with this stock.
Waiting for another low entry if possible.
Caveat: This in my opinion is a short term play favoured by the coronavirus pandemic.
An end to the pandemic could mean an abrupt end to the "ride".
Traders beware!
NOT A BUY OR SELL RECOMMENDATION.

Which price are you waiting for it to fall? $7 ,$8....?

gamaliel9:


Which price are you waiting for it to fall? $7 ,$8....?

Yes.
It does this round trip falling to $7 and returning back to around $14.
I alighted from the bus at $11 the last time as I didn't want to be caught in the volatile and mad zig zag the market continues to act out.

Wether the cycle will repeat/continue we will see.

CORPORATE UPDATE:

General Motors (GM) has suspended dividend and stock buy backs to preserve cash.

My opinion: This is a very bold move that will favour the company and shareholders in the long term.
The only draw back is it may not be palatable in the short to mid term.
DIVIDEND HUNTERS TAKE NOTE!

I deposited money using Bamboo at 3pm since on Thursday and up till now, the amount has not reflected on the wallet.
I am tired of chatting with their customer service. It is already more than 48 business hours but I am still told to hold on.
This is how it starts. People beware.

Hello all,

I just logged in to my account on Trove and was surprised to see a negative value as wallet balance.
What does it mean, please?

OakPearl:
CORPORATE UPDATE:

General Motors (GM) has suspended dividend and stock buy backs to preserve cash.

My opinion: This is a very bold move that will favour the company and shareholders in the long term.
The only draw back is it may not be palatable in the short to mid term.
DIVIDEND HUNTERS TAKE NOTE!

I will be careful with General Motors. They had a terrible management in recent past where they were borrowing money to pay dividends for several years giving their shareholders (mostly retired pensioners) false belief that everything was fine with the company till the day they filed for bankruptcy. A quick look at their financial statements back then would have alarmed any observant shareholder. Maybe the new management have got it under control, I haven't had the time to look through their financials but once you've taken a hit in the past (either directly or indirectly), you will be wary of them.
This is not a BUY or NOT BUY post, just giving a bit of background about a well known brand.

lastclaire4:
I deposited money using Bamboo at 3pm since on Thursday and up till now, the amount has not reflected on the wallet.
I am tired of chatting with their customer service. It is already more than 48 business hours but I am still told to hold on.
This is how it starts. People beware.

That is unacceptable considering the opportunity cost to you and your trades which they won't cover. That can't be good for any business or client. It is becoming clear that the services available don't yet quite cut it. Unfortunately, it appears the limited options is playing into their hands at the moment. I'd suggest that you keep chasing them, not like they've left you with any alternative moves.