₦airaland Forum

add me to this

teemy:
An Idea

I have an idea for a forex competition to help those beginners that need trading funds. The first part being consistency in their trading strategy and sticking to it throughout the duration of the trial.

The Trial

A forex demo trading competition.

Everyone starts with a trading account of $10,000 which is coincidentally similar to a $100 account in cents (more on this later).

Contest starts and runs for the last two weeks of each month.

Awarding the prize

Winner is the trader with the highest ROI or highest balance since all accounts start with the same amount.

At the end of the contest, the highest ranked trader will give me a report of his/her trading strategy and I will authenticate that ALL trades made conform to the trading strategy. Any single off strategy trade will lead to disqualification and prize goes to the next highest ranked trader.


Prize is $100 or equivalent in naira paid into winner's Dom or Savings account. (I will see about raising this and increasing prize positions in coming months).

As an added bonus, I will automate the winning trading strategy into an expert advisor for the winner. I would advice winner should not sell it nor give it out (I will give recommendations on how to make more with it without giving out the farm). There truly is something called the law of diminishing returns.

Grounds For Disqualification

All gurus and pros are not entitled to participate. I would rather you add more to the prize pot. This also includes anyone who has dropped trading signals in any of the nairaland forex threads.

Any new nairaland account that was created from today ontowards is not entitled to participate.

A prize winner for a month is not entitled to a prize in the next immediate month.

The contest trading account should NOT have a drawdown more than 20% of the starting account balance. The concept is to ensure you will maintain money management rules so as not to blow the prize money in a swoop.

Conclusion

All interested participants should give me a mention while I work on setting up the demo contest (most likely on fxblue).

Wishing you well - Teemy

Torture2020:
Kenyans and their unbridled stvpidity what exactly is their fvcking problem with Ghana? Kenya is a fvcking shithole. End of story

they are bush boys who have not travelled before

dont mind them

Kenya does not know what it means to be a producing economy
because all they do is consume.

check how their maritime traffic is empty

samorobo:
Game changer..Kenyans should fear Nigeria and west Africa..

mtisTheQubit:
But the world calls you the poverty capital of the world...people say you are extremely poor...i dont know man but seems there is truth is ths

see ths

so 14 million out of the 46 million poor kenyans are extremely poor

that really messed up

gallivant:
Oil prices have tanked, Ghana is screwed. Expect more bailouts.

sorry to burst your bubble
our revenues are not oil-dependent

Kenya is really screwed , the debt is going to pop

naa
we are gas producers
our oil production is negligible. Hence we import

so a reduction in price is good for us
Oil revenue will go down but we will save big on import

mtisTheQubit:
aint you guys not one of those oil producers.. cedi gonna feel the pain very so..

mtisTheQubit:
an i thought it was Ghana

Ghana's own was completed last year

mtisTheQubit:
dude which abroad..take an example of your guy maya .. has been deported ,arrested ,kicked ,racist-ed (do we even have such a word ) an all stuff...or does it only affect WAs ..ati real freedom..what you niggs be smoking..

make a point

gallivant:
What's happening in Ghana?

we are doing great

mtisTheQubit:
if this oil stuff continues South Africa will regain as the largest economy in Africa..Kenya (non-oil )producing Country will surge...

More pain coming...

who told you that your economy will surge ?


poor economics

your debt is dragging you down with the global collapse.

even our villages are nicer than the east africa noise maker

samorobo:
Gombe town.... northern Nigeria

when you view Maritime traffic, that is where you realise how small the Kenyan economy is in trade

TheYoda:
Only few here was around in those crazy period and yes you mentioned and gave good tips on what pairs to trade , what to stay away from and even time to stay in the market, London and some part of NY is enough.

I'm enjoying the conversation between you and Just30, good stuff but I suck at fundamental.

From the news, Saudi is threatening to flood the market with oil and crash the price to hurt Russia.
https://www.bloomberg.com/news/articles/2020-03-07/putin-dumps-mbs-to-start-a-war-on-america-s-shale-oil-industry

Saudi is only playing a game hoping Russia will support them for a price increase.
Their producers break even at 20 dollars just as Russia but Saudi is overly stretched and unprepared for oil at 20 dollars.

The house of Saud will collapse oil keep at this price for long and they are in panic mode.
That is why Mbs has gone back to harassing his cousins.

Just a perfect storm

Kazikazi:
Yah sweets for us non producers

yep

and bad for huge debt holders

yeah

27 dollars is sweet

Russia is going to crush all shale producers in the US and leave their banks with massive debts

Saudi is fvcked

Kazikazi:
Any comments on oil prices?

Justnotyou:
Aesthetic judgments especially the ones on beauty tend to always be subjective, it would be more fruitful to argue with a male elephant about the beauty of gazelle females & meaningless to argue against Nigerians/Ghanaian about their own females...

have you considered the fact the there is no argument here?

the fact that most kenyan have traits that are considered to be not beautiful

Justnotyou:
Khoisan/isolates have the greatest genetic diversity followed closely by pygmies> Nilo-saharans> Niger-Congo> Afroasiatic> Indo-European & lastly the Asians, once you can disapprove this w/actual data only then will I engage you further.

again
you are being dumb

what has having great genetics to withstand diseases got to do with mutations that allow sexual selections to propagate variations?

Justnotyou:
Learn to comprehend things first before asking retarded questions...

dont be dumb
you said quality over quantity
and im asking you for the quality of beauty

Justnotyou:
Are you dumb? Nigeria is the most populous country in Africa so if it's just about numbers then for sure you got them, if it's about quality within those numbers then it's debatable.

whats the quality of beauty

this is a dumber response to to diversity in the genome

Justnotyou:
Try & find out for yourself... Don't bother I know that's an endless task for you. from most diverse to least diverse only for countries represented within this thread. ..

Linguistically
Tanzania> India> Kenya> Nigeria> South Africa> Ethiopia> Ghana

Genetically
W/regards to Y DNA/Mt DNA.
Kenya> Ethiopia> India> South Africa> Tanzania> Nigeria> Ghana
W/regards to Genetic diversity.
South Africa> Kenya> Tanzania> Ghana> Nigeria> Ethiopia> India.
W/regards to admixture levels.
Ethiopia> Kenya> India> South Africa> Tanzania> Nigeria> Ghana.

Phenotypically
South Africa> Kenya> Ethiopia> India> Tanzania> Nigeria> Ghana.

Which country do you see is the most diverse...
https://www.google.com/amp/s/www.worldatlas.com/amp/articles/the-most-linguistically-diverse-countries-in-the-world.html

2 billion dollars Urea plant taking shape in Nigeria as WB invest 1.1 billion dollars

some ass whopping will be nice

sherlock229:
northern nigeria or whatever doesn't matter still 100% Nigerian, and not all the girls here are northern nigerian.

let's compare Kenyan women to Nigerian women, please let's see you get your assess handed to you.heck you you can add Rwanda and Tanzania etc to help you against Nigerian ...

Vandorra:
Its the investors and the O n G coys in the USA that will feel it more, as if coping with overstretched debt isnt enfuf, almost 100bln USD. Now should they flinch or panicked to increase output , maybe just to cushion losses, that could be well , but it will be eventually disastrous should all that smaller players follow suit. Only if Trump had, had a second rethink on the rosneft issue.

Well, 4years is still a bit away, as most of those debts aren't due till then,only a surge in price or a compromise by the Kremlin is what is most feasible at this point...further increase in output is a no no.

for now, it doesn't seem like the Kremlin will back down.

they have considered their losses, know the gains they will get and have cushioned themselves for as long as it takes.

Trump is a big oil guy
US has 2 option, print more money to support the banks to loan more to the shale industry.
or cut some big concession to the Kremlin.

The Saudis are bleeped and running out of money.

and who is ?

Justnotyou:
Shuwa Arabs, Hausa/fulani/Kanuri girls all from northern Nigeria tell me if I've missed some other tribe that Nigeria ranks as beautiful? Also you should know Nigeria isn't nearly as diverse as you're trying to imply...

peteregwu:
You really believe in all these shit?

yes i do
because they are real

This is what happened in the OPEC meeting

The Kremlin had decided that propping up prices as the coronavirus ravaged energy demand would be a gift to the U.S. shale industry. The frackers had added millions of barrels of oil to the global market while Russian companies kept wells idle. Now it was time to squeeze the Americans.After five hours of polite but fruitless negotiation, in which Russia clearly laid out its strategy, the talks broke down. Oil prices fell more than 10%. It wasn’t just traders who were caught out: Ministers were so shocked, they didn’t know what to say, according to a person in the room. The gathering suddenly had the atmosphere of a wake.

You dont get it

it is Russia and the US that need to find an agreement soon else the blood bath will continue.

PipMarshall:
Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidation.
Russia and OPEC should find an agreement, hopefully.

They have the upper hand
they know it and they are playing it?


Trump played himself when he placed that sanction on Rosneft

US under Obama declared economic war on Russia which continued under Trump as well. US put sanctions on EU companies and Russia working on North Stream, US recently sanctioned the Russian Rosneft giant for doing business with Venezuela.

At the OPEC meeting in Austria Russia said to herself, why protecting the US oil shale industry, by cutting her oil production when all they see from US is hits under the belt.

Russia has a very solid welfare fund of over $500bln. Russia has been buying gold for years, and has a very low national level of debt. If this oil war goes for a year or two many banks will incur massive financial losses which will hurt the entire oil sector in US.

Russia very likely is holding if not straight flush, very likely the best hand, while the US oil companies will have to keep folding to preserve whatever capital they can from the "oilmagedon" huricane.

PipMarshall:
Interesting times


It looks like their plan will work.

RabbiDoracle:
What we don't know is how long this oil price slash will last. Remember Russia hardly backs down in any challenge.

If it stays through summer, it will knock lots of economies into recession.

Just wait and buy at ridiculously low prices.

give yourself as long as you can

Russia has this thing plan out and they can wait for it to even drop below 20

Russia does not want an agreement any time soon
Russia interest right now is to crush US shale producers and send the market into a spiral as big banks lose big
The only way to make the US suffer is to make the market suffer.

Russia is waiting as everyone else lose their market share.

PipMarshall:
Well.
It's alright.
I think Prices should go up again.
We should just hope naira has not collapsed before then.

US Oil output will be reduced, as the low prices will drive many US oil producers into liquidity.
Russia and OPEC should find an agreement, hopefully.

TayserMahrii:
I was the one to teach you this bro. Tomorrow. But the lesson begins now so that you have sth to digest in your sleep. The demand for the dollar has been low in these coronaviral times. The Cedi has been having a field day in this low demand environment because its the only thing being demanded in Ghana, hence gaining value, and driving Ghanaian citizens mad with joy.

TODAY RUSSIA IS DOING THIS TO THE REST OF THE WORLD
and Saudi Arabia is panicking


In fact, I’d argue that it is the single most powerful word in any language.

In the midst of the worst market meltdown in a dozen years which has at its source problems within global dollar-funding markets, Russia found itself in the position to exercise the Power of No.

Multiple overlapping crises are happening worldwide right now and they all interlock into a fabric of chaos.

Between political instability in Europe, presidential primary shenanigans in the U.S., coronavirus creating mass hysteria and Turkey’s military adventurism in Syria, the eastern Mediterranean and Libya, markets are finally calling the bluff of central bankers who have been propping up asset prices for years.

But, at its core, the current crisis stems from the simple truth that those prices around the world are vastly overvalued.

Western government and central bank policies have used the power of the dollar to push the world to this state.

And that state is, at best, meta-stable.

But when this number of shits get this freaking real, well… meeting the fan was inevitable.

And all it took to push a correction into a full-scale panic was the Russians saying, “No.”

The reality has been evident in the commodity markets for months. Copper and other industrial metals have all been in slumps while equity markets zoomed higher.

But it was oil that was the most confounding of all.

Most of 2019 we saw oil prices behaving oddly as events occurred with regularity to push prices higher but ultimately see them fall.

Since peaking after the killing of Iranian General Qassem Soleimani oil prices have been a one-way trade. Down.



Our inept leaders are trying to blame coronavirus as the proximate cause for all of the market’s jitters.

But that masks the truth. The problems have been there for months, pushed to the back burner by incessant Fed intervention in the dollar-funding markets.

The 2008 financial crisis was never dealt with, just papered over.

The repo crisis of last September never ended, it’s still there.

And it reappeared with ferocity this week as people sold dollars and bought U.S. treasuries pushing U.S. yields on the long end of the curve to absurd levels.

Credit markets are melting down. Stock markets are the tail, credit markets are the dog. And this dog was run over by a bus.

The Fed intervenes to keep short term interest rates from rising to preserve the fiction it is still in control.

The market wants higher rates for short-term access to dollars.

The Fed tried to help by cutting rates by 0.5% but all that did was tell people the Fed was as scared as they were. The selling resumed and gold bounced back to it’s recent high near $1690, only to be swatted down on the New York open this morning.

That didn’t work either.



OOPS!

And into this mess OPEC tried to save itself by asking for a historic production cut.

OPEC needs this cut to remain relevant. The cartel is dying. It’s been dying for years, kept on life support by Russia’s willingness to trade favors to achieve other geostrategic goals.

I’ve said before that OPEC production cuts are not bullish for oil just like rate cuts are not inflationary during crisis periods.

But finally Russia said No. And they didn’t equivocate. They told everyone they are prepared for lower oil prices.

The panic was palpable in the reporting on the meeting.

“Regarding cuts in production, given today’s decision, from April 1, no one — neither OPEC countries nor OPEC+ countries — are obliged to lower production,” he told reporters after the meeting.

OPEC’s Secretary General Mohammed Barkindo said the meeting had been adjourned, although consultations would continue.

“At the end of the day, it was the general, painful decision of the joint conference to adjourn the meeting,” he told reporters.

Earlier, Oanda analyst Edward Moya had suggested that a failure to reach an agreement could spell the end of OPEC+.

“No-deal OPEC+ means the three-year experiment is over. OPEC+ is dead. The Saudis are all-in on stabling oil prices and they may need to do something extraordinary,” he said.

There comes a point where negotiating with your adversaries ends, where someone finally says, “Enough.” Russia has been attacked mercilessly by the West for the crime of being Russia.

And I’ve documented nearly every twist and turn of how they have skillfully buttressed their position waiting for the right moment to get maximum return to reverse the tables on their tormentors.

And, to me, this was that perfect moment for them to finally say “No,” to get maximum effect.

When dealing with a more-powerful enemy you have to target where they are most vulnerable to inflict the most damage.

For the West that place is in the financial markets.

Remember, the first basic fact of economics. Prices are set at the margin. The only price that matters is the last one recorded.

That price sets the cost for the next unit of that good, in this case a barrel of oil, up for sale.

In a world of cartelized markets the world over, where prices are set by external actors, it is easy to forget that in the real economy (regardless of your political persuasion) the world is an auction and everything is up for bid.

High bid wins.

So, the most important geostrategic question is, “Who produces the marginal barrel of oil?”

For more than three years now, President Trump has supported his policy of Energy Dominance in a Quixotic quest for the U.S. to become that supplier. Trillions of dollars have been spent on building up domestic production to their current, unsustainable levels.

This policy pre-dates Trump, certainly, but he has been its most ardent pursuer of it, sanctioning and embargoing everyone he can to keep them off the bid.

What he could never do, however, was push Russia off that bid.

The reason U.S. production rates are unsustainable is because their costs are higher per barrel than the marginal price especially when all other prices are deflating. Simple, straightforward economics.

If they were, on balance, profitable then the industry as a whole would not have burned through a few hundred billion in free cash flow over the past decade.

That’s where the Russians’ power comes from. Russia is one of the lowest cost producers in the world. Even after paying their taxes to the government their costs are far lower, close to $20 per barrel break-even point, than anyone else in the world when one factors in external costs.

When you don’t owe anyone anything you are free to tell them, “No.”

Sure, the Saudis produce at similar cash costs to the Russians but once you factor in its budgetary needs, the numbers aren’t even close as they need something closer to $85 per barrel.

They can’t tell their people, “No,” you have to do without. Because the populous will revolt.

Russia can ride out, if not thrive, in this low price regime because :

the ruble floats to absorb price shocks in dollars.

A majority of their oil is now sold in non-dollar currencies – rubles, yuan, euros, etc. – to lessen their exposure to capital outflows

the major oil firms have little dollar-denominated debt

low extraction costs.

its primary governmental budget ebbs and flows with oil prices.

All of this adds up to Russia holding the whip hand over the global market for oil.

The ability to say, “No.”

And they will have it for years to come as U.S. production implodes. Because they can and do produce the marginal barrel of oil.

That is why oil prices plunged as much as 10% into today’s close on the news they would not cut production.

There is a cascade lurking beneath this market. There is a lot of bank and pension fund exposure in the U.S. to what is now soon-to-be non-performing fracking debt.

Liquidations will begin in earnest later this year.

But the market is handicapping this now.

I cannot overstate how important and far-reaching this move by Russia is. If they don’t make a deal here they can break OPEC. If they do make a deal it will come with strings that ensure pressure is lifted in other areas of stress for them.

The knock-on effects of oil plunging from $70 per barrel to $45 over two months will be felt for months, if not years.

And it is no shock to me that Russia held their water here. If they didn’t, I would have been surprised.

This was Putin’s opportunity to finally strike back at Russia’s tormentors and inflict real pain for their unscrupulous behavior in places like Iran, Iraq, Syria, Ukraine, Yemen, Venezuela and Afghanistan.

He is now in a position to extract maximum concessions from the U.S. and the OPEC nations who are supporting U.S. belligerence against Russia’s allies in China, Iran and Syria.

We saw the beginnings of this in his dealings with Turkish President Erdogan in Moscow, extracting a ceasefire agreement that was nothing short of a Turkish surrender.

Erdogan asked to be saved from his own stupidity and Russia said, “No.”

This condition of producing the marginal barrel of oil in a deflationary world places Russia in the driver’s seat to drive U.S. foreign policy behavior in an election year.

Talk about meddling in our elections!

The Achilles’ heel of the U.S. empire is the debt. The dollar has been its greatest weapon and it is still king. And it is a weapon with a great deal of power but wielded only against the U.S.’s allies, not Russia.

Markets will adjust and calm down in a few days. The panic will subside. But it will come back soon enough in a more virulent form. Today is a replay of 2007-08 but this time Russia is far better prepared to fight back.

And when that happens, I suspect it won’t be the Saudis or the Turks that come running to Russia to save them, but the U.S. and Europe.

At which point, I have to wonder if Putin will channel his inner Rorschach.

* * *

whatever makes you sleep at night kiddo

you're still yet to produce someone greater than Nkrumah.

Kenya is still yet to break the authoritarian system created by kenyatta that has led to a dynasty for kenya

No authoritarian society that creates timid people ever succeed
maybe that is why you guys remain poor despite being around markets.

TayserMahrii:
So now you agree on the following:
1. Ghana was a one party state
2. Nkrumah made it so
3. Because he was mad
4. Ghanaians subjugated the constitution to overthrow a mad man
5. Ghanaians literally undressed their founding father and exposed his naked blokos to the world
6. Till this day the curse of the man has never left Gh
7. History keeps repeating itself
8. It all began with chief Nana Baidoo Bonso

is that why the world does not find Kenyan women beautiful enough or its because of their mountainous forehead?

TayserMahrii:
So long as Ghanaian beauties understand that melanin was never meant for beauty but for practical sunscreen purposes