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I Just Lost 400k - Business (8) - Nairaland

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Re: I Just Lost 400k by Lordsonn: 11:19am On Nov 04, 2023
Keep your money. Dollars will shoot up before the end of the month. CBN is only sustaining the current exchange rate with borrowed loan. The loan will soon be used up.
Re: I Just Lost 400k by doggedfighter(f): 11:20am On Nov 04, 2023
GeneralDae:

Or learn about Nigerian stock market and invest in it. The Nigerian stock market is having it's best year by adding at least 11 trillion naira already just this year alone.

Una don start another one.

She's yet to recover from the one you guys pushed her into.

11 trillion !

2 Likes

Re: I Just Lost 400k by Akerele44(m): 11:24am On Nov 04, 2023
Illegal1:
omoh..........fear not,dollar will kip increasing as long as tinubulation is on the throne.

u shall smile again..

Oloriburuku omo obidiend na una stupid mindset and advise push the guy

Stupid people from foolish tribe
Re: I Just Lost 400k by Princewill1(m): 11:26am On Nov 04, 2023
I'm a student of the legendary American investor Warren Buffett and he has this to say when it comes to investing.

"Be Fearful When Others Are Greedy And Greedy When Others Are Fearful" ~Warren Buffett

Any investment or business opportunity that is in the public domain and everyone is rushing to invest is a red flag for me. It will most likely burst. Rare fortune in investing are found when you go against the tide.

1 Like

Re: I Just Lost 400k by CodeTemplar: 11:26am On Nov 04, 2023
According to God's own advise, "seedtime and harvest time no suppose cease".
Re: I Just Lost 400k by Lordsonn: 11:28am On Nov 04, 2023
mactoni91:
Lol...

Calm down, it'll still go up.

Good News is that you have a more stable currency in your savings.

Don't ever make the mistake of panic selling now because that's when you lose.

Take this opportunity to buy more Dollars.

What the CBN and APC is currently doing now isn't sustainable.
You really understand. The government can't sustain Naira appreciating with borrowed loan. Only massive export will strengthen naira for a long time. Dollars will go up before the end of the month.
Re: I Just Lost 400k by ofemigeorge(m): 11:31am On Nov 04, 2023
Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Oh you female. I said it. When you mentioned people should contribute money for you for your loss I was like, this guy is talking like a typical Nigerian woman. grin
Re: I Just Lost 400k by FitCorper: 11:32am On Nov 04, 2023
Athena6:


You mean like "keke" because I don't have strength for that kind of business.

Right now I will just focus on my work and leave any business plan for next year, I have gotten too many heartbreak in just a few months
Athena hold your position. Just cut down on your spending budget for now. Dollar will rise again as it will still test 1300 level again and when it does this time around, Quote me I will tell you when to sell after that forget about anything dollar and instead focus on agriculture. That’s the new gold mine. Good news is you have enough time to think of the type of agriculture to venture into. Don’t despair, na who quite now lose. Don’t commonise this advice.
Re: I Just Lost 400k by SamuelLoch: 11:33am On Nov 04, 2023
Athena6:


Do you think it will even get to 1100 because I don't want to lose anymore money.

I am just feeling like a failure 😞

If you sell now, you lose...
This is the season for the dollar to fall because it's pumped into the economy. There's less demand for it. December's are like that.. From trend, there's usually a increase in demand for the dollar from March, and it surges around August.

The only reason why you may not cash out big is if the Dangote refinery launches massively before mid-next year and if the go to chooses to play with us.

Did you put it in a dom account, USDT or US stocks?
Re: I Just Lost 400k by Fugazy2023: 11:33am On Nov 04, 2023
NapoleonHill:



Kindly STFU, you scamming SOAB.



Hahaha another ignorant buffon. Na so una push her till she lost 400k+ 🤣🤣🤣

Most of you trade forex like gamblers. Reason why 90% of you lose money Haha hahaha. I'm not even asking her to give me money.
Na she go open the account herself
Na her account details go dey there.
No other person can withdraw her money except her.
So I don't know where the scamming is coming from. Ignorant buffon
Re: I Just Lost 400k by Akaegwu(m): 11:33am On Nov 04, 2023
kestolove95:
My frnd bought dollar for #1300 with the hope it will rise to 2k by Dec.... Omooooo God safe me
Gambling.
Re: I Just Lost 400k by kestolove95(m): 11:35am On Nov 04, 2023
Akaegwu:
Gambling.
e Don cut
Re: I Just Lost 400k by ufuosman(m): 11:36am On Nov 04, 2023
Painful 😣 but many want it to fall more
Inside life

1 Like

Re: I Just Lost 400k by shiki(m): 11:36am On Nov 04, 2023
Didn't I advise you to wait until Dollar come down to 1k/$ before investing in it? I will advice you for the second time, if you are not using the money for now, let it be a long time investment for you, after a year and half, you will smile. Take it from me.
Athena6:


Thanks for the advice, I guess I will just cut my loses.
It is very painful losing 400k in just a few days 😢

Re: I Just Lost 400k by OGHENAOGIE(m): 11:36am On Nov 04, 2023
chronique:
It's funny how people who have no direct business dealings with dollars, end up going to buy dollar to keep as a way of making money, or salvaging their savings, and still complain that the naira is losing value. It's either you guys are outrightly stupid, or suffer from gross ignorance. If every Nigerian decides to save their naira in dollar, how much do you guys think the naira will be worth? Yes, the government has its own faults but average Nigerians too are a problem to the country. Everyone is now trying to price their goods to the dollar even when they don't have a reason to. Only people who are trading with the dollar regularly, should have a business with it. You are earning naira as a person, you are not doing any imports, yet you want to buy dollar to keep as a way of defending your naira, aren't you part of the problem? There's a fictitious/unnecessary demand for the dollar which in turn, drives the value of the naira down.

@op: sorry you listened to the advice of most people here. You would be shocked to know majority of them are kids in real life, or people who get their information from beer parlor and market women cos I don't know why any sensible person would advise you to buy dollar to store, knowing fully well that it's already around 1300. That's a very risky and bad advice. Even if you want to trade forex, you don't buy when the price is that high, knowing fully well that the government is looking for ways to crash price down cos if they don't, they would be forced to deal with an army of hungry jobless Nigerians, as a lot of businesses would crash if the slide is not arrested. The only people who should buy it at that price, are people who need it urgently. Yesterday, I asked aboki for dollar and he said 1150. I told him I wanted as much as 10k and he offered to do it 1100 even without me pricing. By evening, price had crashed to about 1000 or 950 as it was reported elsewhere. He's going to be very desperate to sell now before it crashes further and this is what would happen to most speculators. The ripple effect of this is that more dollars would be available for sale and drive price further down. My advice is to not hold it further if you still have it.
you have said it all I hope dollar to naira go down More so these greedy speculators can lose..

3 Likes

Re: I Just Lost 400k by stagger: 11:36am On Nov 04, 2023
Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Hahahahhaa!

You know nothing of the fundamentals of the currency market. If you did, you would have held off buying any dollars now, knowing that CBN was expecting a huge amount of money that would be used in settling all deliverables. They even announced it well ahead of time.

The Naira will gain short term but remains fundamentally weak long term. If it was when there were still intervention programs by NIRSAL at 9%, I would have advised you to take a Naira loan and use your current US Dollars as a collateral (either you purchase a dollar-denominated asset whose value won't depreciate such as a 2-year US Treasuries note at its current 5% interest). With time, if the Naira remains fundamentally weak (which it will as we don't have reserves, we are still trying to unwind the crude oil swap deals and there is still heavy pressure for imported goods such as petroleum products, aviation fuel, medicals, school fees, etc), you can liquidate the USD asset and get a gain on it via the exchange rate which you will use to pay off the Naira loan and its interest.

Jimoh Ibrahim pulled it off successfully and walked away with all his properties that AMCON had seized all intact.

2 Likes

Re: I Just Lost 400k by sacajawea: 11:37am On Nov 04, 2023
Wolfdevil:
Don't worry, bro.

Whether there's a refinery or not, it's likely to exceed the $1300 mark.

True. But when exactly will this happen?
Before the end of this year?
Re: I Just Lost 400k by GeneralDae: 11:38am On Nov 04, 2023
doggedfighter:


Una don start another one.

She's yet to recover from the one you guys pushed her into.

11 trillion !
Check it out. Market value increased from 27 trillion naira in December to 38 trillion naira presently. This is the best year for the Nigerian stock market.
Re: I Just Lost 400k by copyrites: 11:40am On Nov 04, 2023
People like you are some of the problems of the world. You want to make billions of dollars in 2 weeks? You wan cash out in 2 weeks? Weyrey. grin If you can't wait for at least 2-3 years, better go and withdraw your money and buy shawarma.

Low risk appetite people and their wahala. God knows I can never do business with people like you. Always crying, agitated, and fearful.

I pity any man advising you currently. You go use worry and curses finish him in his DM.
Re: I Just Lost 400k by Nobody: 11:40am On Nov 04, 2023
Thought I advise you to invest in landed property, so you go buy dollar hoping it will reach 1500 by December. All these quick quick money people, una go learn by force grin

1 Like

Re: I Just Lost 400k by ugodson(m): 11:40am On Nov 04, 2023
Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Guy quote me, this is Christmas period it's expected for d dollar to decrease but it came early if you dont have need for the money i did advice you to leave it second week in January it will SURELY increase bro
Re: I Just Lost 400k by pocohantas(f): 11:44am On Nov 04, 2023
Persephone1:
Thought I advise you to invest in landed property, so you go buy dollar hoping it will reach 1500 by December. All these quick quick money people, una go learn by force grin

They don't want to sell even akara or render any service. Only to hoard dollar. I have some that keep coming to me to sell for them whenever I want to change money. They always want to buy from me at a lower rate.

Last month these speculators created heavy artificial demand and it go to almost $/N1400.

3 Likes 1 Share

Re: I Just Lost 400k by BeauBragnar11: 11:49am On Nov 04, 2023
oluayebenz:
I dont see the dollar going back to 1k naira ever again.

It's currently at 940

Black market??
Re: I Just Lost 400k by boxypane(m): 11:56am On Nov 04, 2023
Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫
Bro, pls cut your losses. Though the dollar should increase within the week, but it should crash than now
Re: I Just Lost 400k by ayotade09(m): 12:00pm On Nov 04, 2023
Illegal1:
omoh..........fear not,dollar will kip increasing as long as tinubulation is on the throne.

u shall smile again..
you sha wan send him back to his village

1 Like

Re: I Just Lost 400k by Hassanmaye(m): 12:00pm On Nov 04, 2023
Ceasarceasar:
You better sell...

A frd of mine lost a million now..

I lost about 70k...

I Lost 200k Yesterday
Re: I Just Lost 400k by Ikaeniyan0: 12:03pm On Nov 04, 2023
BeauBragnar11:


Black market??
Yes

The naira will keep on strengthening
Re: I Just Lost 400k by topoftheworld(m): 12:06pm On Nov 04, 2023
kestolove95:
My frnd bought dollar for #1300 with the hope it will rise to 2k by Dec.... Omooooo God safe me

I even went to bank on Tuesday to open Dom account in view of using my 1m to buy dollar, thank God I never did
Re: I Just Lost 400k by ufotunang: 12:06pm On Nov 04, 2023
oliverwrites:
I have lost 800k today but note that dollar isn't going high to 1300, unless dangote refinery fails. I am only waiting till it gets to about 1100 and then exit. I forsee dollar going to 750 before March unless Dangote refinery fails.
..so you want Dangote refinery to fail

1 Like

Re: I Just Lost 400k by Hassanmaye(m): 12:06pm On Nov 04, 2023
Athena6:


You mean like "keke" because I don't have strength for that kind of business.

Right now I will just focus on my work and leave any business plan for next year, I have gotten too many heartbreak in just a few months
Try trading crypto I made 10k daily
Re: I Just Lost 400k by ufotunang: 12:07pm On Nov 04, 2023
Withdraw your money now .. because when Dangote refinery and other refineries start by December 2023 the dollars will fall more and more

1 Like

Re: I Just Lost 400k by Hassanmaye(m): 12:07pm On Nov 04, 2023
Brownbetsport24:
Most of the people advising you on that thread are not into dollar market, they are hearing it as a lucrative form of trade

To Me is related to gambling, the difference is that this you can withdraw your capital.
100%%

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