₦airaland Forum

anjilgreat:
I had to sell some of my VET for KSM @270 during the early hours of the morning.

I'm just wishing I sold more VET into it, pls what do you think abt VET and it's sluggishness, is tt still good to hold? Thanks in anticipation

They're both good coyns with good PA. I own both.VET has broke previous ATH and is now retesting it... It should accelerate in the coming days or weeks. Same thing UNI is doing.
Theta also did same thing after breaking ATH, it came back to flip the level before accelerating... Don't be surprised ksm slows down after some time and comes back to retest ATH.
My target for vet is 0.09- 0.1.
For ksm, I'm looking out for at least 2x from previous ATH which should take us to about 500..

After such strong breakouts, I tend to let stuff ride and not over manage it except when I suspect a significant betece move

Kusama kusama.....

Didn't give a retest of 250 I was hoping for...

I'm wishing I had even more exposure now.. got a fat bag though.....

The more I dey look am, the more my xrp bag dey vex me

BTC sellers showing up...

But then betece continues to show strength... Doesn't want to calm down.... Looks like it may take 58k soonish...

Generally, that's not good for our alyt party... Betece has just been too bullish... Another opportunity would be if it breaks out of 58 k and then ranges for a bit. (Like it did at 45k when it broke 42k)....

Either way, I'm looking at getting some betece exposure...

Still asking for advice... My xrp bag dey vex me... I don't know why I no sell am put for better stuff..
My concern after, holding for this long, if I sell, e go start dey pump......

mogreen22:
Waiting till tomorrow to sell my bnb. That announcement CZ is going to make might make it pump some more. It’s what he twitted today that made it to start rocketing. So ama just wait a bit more and see how it plays out. Juld will me my long term hold

Lets hope the announcement is not a buy the rumour, sell the news stuff. Would have been more comfortable to ride the pump if he already made the announcement. If it turns out the announcement is not as huge as he hyped, there may be a dip


That said, Bnb is showing strength... Given that I didn't get in at the lows (chose kusama instead), I'd be interested to ride a breakout and retest

nihilistjnr:
Just want to say that we appreciate you on this thread broski. There's a different level of expertise and knowledge evident in your posts

Gracias... I pick up good tips here too and share based on lessons learnt...

Biafran4life:
You are confusing me.I dislike this government like mad because of other things.Nevetheless,I don't see what they are doing different when it comes to cbn..How many exchange rate do we have.i can't agree that those 41 items on the cbn list should access dollars at government rate . Defending the naira is the same thing as subsidizing it.If you qualify for it they give tyou hrough government windows that I know.Do you remember during abacha ,he placed dollars at #22.and things wr still ok.The problem is the madness to import even water.And the demand for everything abroad from services to products even when we can create local alternative.Personally I don't care about the black market price of dollars if you can afford it.God be your helper

First, things were not ok during Abacha... There was a link I posted above... It explains quite well the history of our currency and what really happened during Abacha's time. Fact is that over the past 40 years, the only time the naira saw sustained appreciation and stability against the dollar coincided with a period when everyone could access same dollar rate (and also high oil prices)

Whether we care about the black market or not doesn't matter. Fact is that it has a huge impact on you. Virtually every item you buy in the market is affected by the black market rate. I can't think of any item not affected.. Even locally produced food. Economies work as an interconnected unit and not as individual parts.

Talking about limiting items that can access forex, for the past 20 years we've been doing that, the very few items such as cement we've sustained self sufficiency in was not because of forex limitation... So why do we keep repeating it? There are sensible ways to stimulate local production without hurting the economy.

In summary, all I'm saying is that everyone should have access to thesame forex rate.

afroxyz:
What do think about copper? Has strong bullish thesis based on EV and renewables.

Not much... Unsure how it's market moves. Haven't traded it before... My hands are rather full now. Trying to limit myself to stuff that have yeilded positively for me

Notyamate:
You dey mind the guy. $5 in a year for CH.Z is not feasible, with all the pumps it hasn't reached $0.5.

Naso dem talk during bn.b say e go reach $500, e go surpass ethy, etc.

When a coin pump that's what you see people say.

I call it a top signal... From doge, to bnb to ada... Anytime multiple people start saying they'd buy or hold a coin that has done recently 200-400% for the long run, you know it's time to sell...

That said, you never can tell how far up a parabola will go. But as weve seen in the last weeks, it's much easier to sell on the way up.

labisibrass:
any sell options for us Luno

No idea... I don't use it

tempusfugit:
Am waiting patiently for chz to get 5 dollar, I got 22k coins, it might not be this year but certainly next year

Una don start again... It's done almost 60% today, 350% this week and 6x in the past 2 weeks.

It might very well go to 5 dolls next year, or it may be worth almost zero then...
If I had been in a position all this while, I wouldn't be hanging around to know where it'd go...

But finally, we're in an alt run. Folks would sure want to buy a coin that has done 400% in a week and call in a long term buy.

jedisco:
This played out nicely... The dip wasn't deep enough for my liking but I added manually.

Today has been a good day....much sweeter than yesterday.

Theta and tfuel were my good lads today... Got a good bag of both when they held their levels against betece during the correction. Also, it's always sweet riding a coyn that broke ATH. Entry for theta was around 3.5 and 0.9 for tfuel... No complaints so far

Re-entered VET at a break and flip of 0.6... my entey was 0.605.
Sold a good chunk of my LTC into doge.... I am quite keen on this one.... For the past year, a doge pump has come with all alyt rallies
Added more to ksm.... It's been ranging above 200 for weeks (even eith betece volatility). If it breaks out, the upward move should be huge.

Didn't add much to one, uni and aave as I already have a good bag.

I am expecting a reaction when eith reaches 2k. A pullback would give a chance to reload... If it blasts thru 2k, then you can expect real volatility. Got stops in place in case of a pullback

Let's see what tomorrow brings... Hopefully, its a doge pump

Today has been another good day... Sweet profits locked in...

Kusama is finally showing signs. Sweet breakout... I'd be adding more if it comes back to retest 250.... Quite happy I chose adding to it instead of aave on the last dip

Coins I'm riding to ATH are: rvn, srm, zil, grt, algo, atom, aave, ada and ren.

For moon riding (already broken ath) I'm in theta, tfuel, vet and monitoring One....

Please I need advise... don't know how I managed to have a big stash of xrp.... The rascal no wan move... Really considering alternative options...


Either way, I'm leaving positions as they are (with stops) for another day or two... Hopefully, good number would have hit ATH... Then, I'd reposition my portfolio over the weekend... I'm in too much coyns and would like to reduce the number. Would definitely want to get good exposure to betece if it breaks 58k... Lessons have been learnt
Already taking profits and aiming to reposition on a dip...

Would be looking at the dot, sushi, uni group next as they seem to be lagging


Finally, if anyone knows where doge is located, please ask it to do as usual...

nihilistjnr:
Bro still holding that bag. I told you I still added another 5k inside during the dip. Let all the promises of X10 or x20 come through abeg, make I sign off from mortgage and live my life as a free man.

Hehe... Eithy would unlikely give x5 or x10.. it's a large cap... Just that it's likely to outperform most alyts in the long run

Celsony:
Good evening house please i need some help

I have been trying to sell Etherium on the binance app, but it keeps bouncing back. The last one was show that I have sold but the person I was to sell too didn't see it, that's through P2P. Later that day it bounced back after handing for close to seven days.

Please is there anyone experiencing similar challenges?

And I need to sell it ASAP because I really need money to sort things out.

Why not sell your eith into usdt on binance and use the p2p option to cash out. That's more straightforward

Some people are confused on what to buy...

Playing alyts from current levels to ATH is sensible. Then riding those who have broke and are retesting ATH.

Coins like grt, aave, zil. Also, atom, algo, link ....are all printing same pattern.

Those who have broke ATH are vet, one, uni..

Take location at appropriate levels

Theta broke ATH and has taken off.

Ones which look peculiar are ksm. Xrp and xlm are all-over the place.

Betece at 54k, Eith approaching 2k... Both significant levels

54k-58k on betece is a significant supply zone... The last before ATH

Wouldn't be a bad idea to have stops in place in case of a pullback

Ojemedad:
Yes, I'm on 1inch, Btt, and Doge, so far they are all doing well, I'm learning to hold now , it is more profitable as long btc behaves.

Beltc show me pepper

Hehe...Seems it's micros you like

Ojemedad:
Baba I'm riding with you on doggy

Hehe... I'm quite diversified though... Wouldn't bank too much on it.. I got in heavy between 0.48 and 0.5. My entry is in good profit and well protected. Will look to sell some around ATH and compound on a dip before a possible break...

BTW, you've been silent of late.... Abi na betece pursue you?

IMAliyu:
Yeah that's my hope.

Let's see if that level aligns with it's support structure against eith... That should provide confluence

IMAliyu:
I don't really like the look of ADA against BTC.

Ugly candle... Lets see if it bounces above the 20ema.

Thankfully I sold into eith

I am usually very heavy on market cycles. It is in timing them thst all money is made or lost.

From 4k, All alyt rallies over the past year followed same pattern.
BTC pumps>>>btc corrects and confirms a high floor
(well abv 21 week ma)> Betece ranges>> eith shows strength against betece>>Alyts rally

That process has occurred with every single alyt rally over the past year. So betece moving from 40-60k was already indication that an alyt rally was in the offing. It confirming 48k (remember the yellow line) as the floor was the second step

The transition between stage 1 and 2 this time was more volatile than I expected and cost me some profits. Looking back, I could have handled it a bit differently... Be more heavily exposed to betece once it starts rallying and would have switched to alyts once betece bounced against the moving averages I used to update here.

Remember the sweet spot is 48-54k.... Betece ranging here would portend good news for alyts.

Regarding ETH, I always look out for it cos an eith pump has certain significance in this market. We can now see what eith showing strength against betece does to the market. Now more glad I added back my eoth stash at 1400 by converting most of my ada into eith.

Seems the alyt rally is still early... people have not started asking if they can buy coins that have done 400% for the long-term or asking about daily 10%. Position well folks and reap the blessings.

This market can be dependably cyclical... Time the cycles and make yourself happy

jedisco:
Glad I loaded up on doge at the lows.... It's began to creep up... A typical doge pump will change my portfolio.

Yesterday was a good one. Profits taken off VET, enj, uni and eith.

I'm looking out for a dip today or tomorrow so I can loadup for the week.

Targets I'm looking to snipe
VET- between 0.50 and 0.54 or a flip of 0.6
Ksm.. Close to 220
One.. 0.32-0.34
Uni.. a flip of the 30-32 level
Aave... 360-390
Doge... If it wicks to around 0.53, I might add up...

It's been a rainy few weeks.... The sunshine is coming out...
Let's make this week a great one....

This played out nicely... The dip wasn't deep enough for my liking but I added manually.

Today has been a good day....much sweeter than yesterday.

Theta and tfuel were my good lads today... Got a good bag of both when they held their levels against betece during the correction. Also, it's always sweet riding a coyn that broke ATH. Entry for theta was around 3.5 and 0.9 for tfuel... No complaints so far

Re-entered VET at a break and flip of 0.6... my entey was 0.605.
Sold a good chunk of my LTC into doge.... I am quite keen on this one.... For the past year, a doge pump has come with all alyt rallies
Added more to ksm.... It's been ranging above 200 for weeks (even eith betece volatility). If it breaks out, the upward move should be huge.

Didn't add much to one, uni and aave as I already have a good bag.

I am expecting a reaction when eith reaches 2k. A pullback would give a chance to reload... If it blasts thru 2k, then you can expect real volatility. Got stops in place in case of a pullback

Let's see what tomorrow brings... Hopefully, its a doge pump

ojesymsym:
I do not think we have ever had one exchange rate in recent memory, even during Abacha's time when he pegged his exchange rate at 22 naira, the black market was around 77-80 naira, the major difference between then and now was the lust for imported goods.

No need blaming the average Nigerian. Though from 2015, this link does justice to your statement.
https://qz.com/africa/564513/a-not-so-brief-history-of-the-fall-and-fall-of-the-nigerian-naira/

Two quotes from it I find quite succinct there are:

"The naira was trading as high as 88 naira to $1 while the official rate remained 22 naira. Many banking fortunes that remain till this day were made then."

And..

"The moment oil prices crash, businesses and transactions that were perfectly legal suddenly become ‘unpatriotic’."

Don't get me wrong, lots of folks even on this thread have made a killing from it. Much of that wealth may even persist to future generations. It's a dog eat dog world.

skydiver01:
Lets hope the madness (multiple divergent fx rates) ends very soon

We hope... Like someone said, Nigeria is a country that keeps repeating same mistakes knowing very well it would cause same problems...

The early ones with access are buying houses anyhow. Just like subsidy of 2012, by the time what's going underneath is out in the open, people will be shocked.

Biafran4life:
Ok sir,I watched sanusi on TV on this matter.Ask sanusi why didn't he do that during his tenure.Or was the present different from his time.The only difference we had more reserve and crude price was better

You're getting me wrong. It isn't about comparing the past and the present. But then, when Sanusi was there, we has a pretty much even rate.


I'm not necessarily against CBN fixing an exchange rate. I believe every central bank (more so of developing nations) should have good control over their currency. This can be achieved via multiple means. CBN can say 1 naira to a dollar... No problem...but they should defend it. They should not use the commonwealth of the whole nation to subsidize forex for a few people. The effects of devaluation are felt by all Nigerians so I don't see why a select group of people have access to subsidized forex.

My point is that all Nigerians should access forex at same rate (whether 1 or 1000) because we all bear the effect of devaluation. If the government wants to support a group, there are multiple ways to achieve that.

afroxyz:
Metals. As in CFDs, Futures?

I usually don't trade derivatives.
My bank allows me purchase spot in app (not physical) and given my knowledge of market structure, I find that easier to use.

That said, it's not something I do regularly as I find the market slow moving and more of a hedge than an investment. Picked up some after the covid crash and sold after a while.

Biafran4life:
They should allow the naira to float in an economy that is dependently on consumption.And you think it will solve the problem with no feasible production.Pls tell me why our professor of economics soludo and the great Ngozi in ministry of finance didn't trade that line then.Oga for what you suggested to make meaningful impact we have to revamp production.And since that is not achievable in a short time.I believe the government is banking on the refinery since about 50 percent of dollars consumption goes into that sector.As they are working on power to improve which has multiplier effect on the economy.We just cross our hands and hope it works.Don't forget we have economic team made up of sound minds equally making imputs.We all are the cause of Nigeria problem directly or indirectly.Our greediness/selfishness has no part two.

What people don't understand that fixing an exchange rate is easy. Defending it is the hard part. If it was all about the CBN deciding what the exchange rate would be, every country will fix their exchange rate and go to sleep. Those folks you mentioned were able to sustain the rate they fixed by deploying foriegn reserves and earnings and made whatever rate they fixed largely available for all. Not allow a way to create billions out of thin air. Personally, I don't believe using scarce forex to continuously defend a currency is ideal, but you can do that when you have the reserves or inflow. You could read Sanusi's interview with the Financial times on this matter.

Hope you know that most of our imported petrol is based on crude oil swaps and not bought outrightly?
We're not the first to introduce some of these measures. . Lebanon did exactly same thing. Their central bank even created an exchange portal and promised huge interests for those who sent forex in.. We know how that ended

Talking about sound minds in our economic team...lol... Look around you and see the result. If not that IMF insisted, Our 'sound minds' were ready to take a dollar loan that would have been wasted on subsidizing thesame dollar.

No need going back and forth... They should keep giving folks 20% discount on the dollar. Indigenous companies that struggled to make profit are now guaranteed 20% in days if they know who to bribe. More and more people are learning ways around it and some are already making a killing. Soon enough, we'd see where it leads

Theyoungmatron:
Please, i need to withdraw my profit. It seem i skipped the part on how to sell it.

You can convert or sell to usdt. You can then use p2p to convert into naira and cash out.

If confused, search for videos on YouTube

Nimrod81:
No he is factual. You can't go to Rome and demand the Holy Father serve you communion in a different way from how others are served. The British Royal house will never change it's ways for anybody. It didn't do so for Diana so this is not a matter of racism. I remember many people claiming Meagan would change the royal family even before she got married. Now reality has dawned on her. All she can do is trend on Twitter. If she wants the perks, she should accept the responsibility.

It's funny how some people here revere some white folks called 'royals' who don't even care if they exist or not.

Let me ask you, what do you mean by changing it's ways? What ways exactly has she asked them to change? Or does that mean not accepting someone of colour in?

shadrach77:
This woman is tremendously heartless. A big schemer and social climber who I see dumping Harry later on, say like in 5 years time and then use the kids as leverage to settle herself financially. Only then will Harry return to his senses.

Though the Royal family may be racist and all that but she knew what she was getting into before going in.

The truth of the matter is that she and Harry know that they can never be the star couple or the centre of attraction cause as far as the British royal family is concerned William and his children will always be above them by virtue of birth and this realisation is the cause of the tantrum they are throwing now

They wanted to leave the royal family and they've achieved their aim so they should just keep quiet and move on with their lives

It's disgraceful hearing this coming from a black man.
You really think she didn't know the succession line before getting married?

anomaly20:
An institution of hundreds of years should bend the knee because of a black woman? or rather a woman who will have not add anything significant to the future of the British royalty.

You are a disgrace to your skin colour

shadrach77:
This woman is tremendously heartless. A big schemer and social climber who I see dumping Harry later on, say like in 5 years time and then use the kids as leverage to settle herself financially. Only then will Harry return to his senses.

Though the Royal family may be racist and all that but she knew what she was getting into before going in.

The truth of the matter is that she and Harry know that they can never be the star couple or the centre of attraction cause as far as the British royal family is concerned William and his children will always be above them by virtue of birth and this realisation is the cause of the tantrum they are throwing now

They wanted to leave the royal family and they've achieved their aim so they should just keep quiet and move on with their lives

It's disgraceful hearing this coming from a black man.
You really think she didn't know the succession line before getting married?

nihilistjnr:
Right at the top bruh
$299

Hehe... You managed to snipe the top cos everyone we're saying it was destined to go to the moon.
Ideally, that's the time to sell not buy

You're lucky betece is still behaving. If betece had corrected more, you'd look at yourself in 3 months when it's maybe 40 dollars and ask what made you buy at that level.

When a coyn runs like that, it's not unusual to range for a while... Also, if it starts rising, be rest assured that range traders who bought at 200 and 250 would dump at 300 or 320 further compounding your wait. They're ready to keep doing that with leverage over and over again until one side breaks.