I Just Lost 400k - Business (3)

I Just Lost 400k - Business (3) - Nairaland

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Re: I Just Lost 400k by NothingDoMe: 9:33am 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 😫

Nlfpmod

Calm down. Speculation is not for the weak minded. 😄

1 Like

Re: I Just Lost 400k by spiSeyi: 9:33am On Nov 04, 2023

Using naira to buy the USD is not a wise investment, gambling is better grin

because
1 The value of Naira is controlled by speculators
2 The value of Naira is not backed by Save Heaven commodity like (Gold)
3 The volatility of Naira is higher than that of crypto because Nigeria's economy is currently under a tedious reform with no sustainable policy at hand (Try and Error)
4 Inflation rate is in double-figure
5 unemployment rate is in double figures
These are the things you look out for before buying any currency, you went ahead to buy NGN/USD which is not among the major or minor pairs. You should have traded the major pairs (buy USD with Naira, then you can trade EUR/USD). I traded the major pairs last week with 5 USD and guess what I made a profit of 25 USD (500% profit) cool

Don't just follow the bandwagon

2 Likes

Re: I Just Lost 400k by transient123(m): 9:33am 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 😫

There are.many ways to die in this country aswear....take heart

2 Likes

Re: I Just Lost 400k by NothingDoMe: 9:34am On Nov 04, 2023

dawnomike:
It is a speculative market... You had the duty of following the news keenly!!!
In the crypto world, we say "do your own research" and in Forex we say "Follow the news".

You failed to do any of the above

👍

2 Likes

Re: I Just Lost 400k by PepeXKermit: 9:34am 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 😫

You are mad. You be 7years old?

2 Likes

Re: I Just Lost 400k by yahoodetector: 9:34am 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 😫

Cc Nlfpmod

Nlfpmod

You are not an investor!

The naira will fall horribly this December at close to N2,000 per $ (I can bet my 2 kidneys to it). Be steadfast.

When BTC was falling, impatient peeps like you cashed out with losses but instead, I put my investments on the stable coin USDT...then one day, the BTC began to soar high and I smiled.

4 Likes

Re: I Just Lost 400k by koyeni(m): 9:35am On Nov 04, 2023

dawnomike:
It is a speculative market... You had the duty of following the news keenly!!!
In the crypto world, we say "do your own research" and in Forex we say "Follow the news".

You failed to do any of the above

I followed her other thread boss. The way she sounded. I doubt she really bought $$$. She just created this new thread as a way of feeling good

4 Likes

Re: I Just Lost 400k by transient123(m): 9:35am On Nov 04, 2023

Just use soldier on them, they must contribute Ur loss grin

. Fake , scam economists they are.

1 Like

Re: I Just Lost 400k by flexyrule(m): 9:35am 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 😫

Cc Nlfpmod

Nlfpmod

No sane person goes to the Internet for advise. Most people who advised you to invest in dollar cannot name 3 dead presidents on the dollar bill. You won't be surprised, most of them haven't seen that 3m you invested.
I used to tell my wife, you can't be earning 70k per month and want to advice a Billionaire.
Well. You take heart and hold on to your FX. Hopefully, after all this drama by the government, it might appreciate in the coming weeks. Unfortunately, I'm not praying for that.

8 Likes

Re: I Just Lost 400k by JuanDeDios: 9:35am 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 😫

Well, you're on your own on this one. We ARE PRAYING for it to fall.

5 Likes

Re: I Just Lost 400k by Willie2015: 9:36am 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 😞

. It was a wrong advice. U should only buy dollar for investment purpose, this way you don't get agitated by movt in xchange rate. I buy dollars to trade stocks and forex.

3 Likes

Re: I Just Lost 400k by Emeka71(m): 9:36am On Nov 04, 2023

Wujio:
Smh. I recall stating clearly on the orevious threwd not to biy dollar at all at the current rate that it was too late. Do people ever listen at all?

What advice is that. Did i not clearly say dollar to naira value is in uncertain levels and not to attemot buying it. Many of us kept shouting dont buy dollars anymore una no dey here.

Keep your money in your bank account and thats your best investment for now

Exactly don't ever expect dollars to rise again but rather to fall because you should know that once the dollars has risen to it's peak; then the law of diminishing returns now sets in.

3 Likes

Re: I Just Lost 400k by LoveJesus87(m): 9:36am 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 😫

I cried to you on that thread of yours in capital letters NOT TO INVEST IN FOREX PR DOLLAR FOR NOW!..

What were u expecting? You should only invest money that u can afford to lose and not expect profit in short term...meaning long term

3 Likes

Re: I Just Lost 400k by Nice2023(m): 9:36am 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 😫

U dey follow people wey no even get account advice.

Most nairalanders are gamblers.

Re: I Just Lost 400k by Otolomo1(m): 9:36am On Nov 04, 2023

And you wish this for your dear country 🤦🤦🤦
Why some are praying that naira should rise you are here wishing for dollar to rise again ...

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

5 Likes

Re: I Just Lost 400k by wittywriter: 9:36am On Nov 04, 2023

Wujio:
Dollar is crashing to 800/750/600/500 into next year. Weve beem saying it to people. Do not buy dollar until at least September 2024

Wujio:
Have you made $30,000 in forex before? I made that almost eight years back in a single week. Thats how your kinds brag and end up disgracing yourself. The exchange rate will crash further to 850/750 next week. I am here for you to validate my projection next week

Olodo

Luckysbab:
Na emergency speculators.

Everyone suddenly don become forex expert.

Wittyness.

1 Like

Re: I Just Lost 400k by LoveJesus87(m): 9:37am On Nov 04, 2023

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

these are your village people. Be careful oo

2 Likes

Re: I Just Lost 400k by sherylbaky(f): 9:38am On Nov 04, 2023

It has always been like that jare, those ppl at the top know how to deceive us, my own regret is not buying around that last year. It's all planned, it will rise before year end again and finally become stable around January - February.
Op just need to calm. Them kuku no want ease for average Nigerian man before

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

3 Likes

Re: I Just Lost 400k by Melezenawii: 9:38am On Nov 04, 2023

Enemy of Nigeria

Re: I Just Lost 400k by 9jii(m): 9:39am 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 😫

Now you lost 400k to dollar speculation
Imagine how much you can lose to Japa craze. Avoid trendy craze

Re: I Just Lost 400k by damosade(m): 9:39am On Nov 04, 2023

Dollar is not coming down...what you see now is just a mirage.

5 Likes 1 Share

Re: I Just Lost 400k by Kobicove(m): 9:39am 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 😫

Yo have not lost anything yet...so long as you have not sold it

Just leave the money in US$ and forget about it until you actually need it they you will see that it was the best decision!

1 Like

Re: I Just Lost 400k by NothingDoMe: 9:40am On Nov 04, 2023

Willie2015:
. It was a wrong advice. U should only buy dollar for investment purpose, this way you don't get agitated by movt in xchange rate. I buy dollars to trade stocks and forex.

💯.

And I buy when it's low for investment. Last I bought dollar was N761. So falling to N800 won't shake me.

Even if it does fall below N700 the investment would serve as a buffer.

She's just speculating without experience.

6 Likes

Re: I Just Lost 400k by seborrhic: 9:40am 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 😫

The average working,honest Nigerian in Nigeria is happy that the Naira is appreciating against the dollar.

16 Likes

Re: I Just Lost 400k by Mandate1: 9:40am 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 😫

unless the govt will renege in its floating policy as it's doing now. Dollar will rise again. Nigeria is not a production economy.

1 Like

Re: I Just Lost 400k by sherylbaky(f): 9:40am On Nov 04, 2023

Na the government be the real village People here

LoveJesus87:
these are your village people. Be careful oo

1 Like 1 Share

Re: I Just Lost 400k by BreconHills(m): 9:41am On Nov 04, 2023

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

What's your basis? Are you sure this isn't sunk cost fallacy?

1 Like

Re: I Just Lost 400k by Rooneyx(m): 9:41am On Nov 04, 2023

It’ll definitely increase as long as TILUMBU is on that seat. Fluctuations are normal in this biz. Get used to used and stop panicking. The President is useless and clueless like his fellow Yoruba goats abi rams. Fools

1 Like

Re: I Just Lost 400k by Khyrvxjzy: 9:42am 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 😞

your matter dey pain me, u say na inheritance so e no go pain you, see question you still dey ask

arika kogbon olori ogbon
areji kogbon olori asiwere

Re: I Just Lost 400k by xtvn(m): 9:42am On Nov 04, 2023

Cash out your money......and take care of yourself before your loss of 400k turn to 600k

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 😫

3 Likes

Re: I Just Lost 400k by Trojan8(m): 9:42am On Nov 04, 2023

For those that cover the FX market, you would know we are in for further appreciation of the naira. FG got $7bn from the securitization of NLNG dividend with naira. Also, made a few dollar swap contracts in recent weeks.

Meanwhile as other people have said on this thread, the refineries when they start working would bring the much needed relief in the FX market. Your best bet is to sell your dollar holdings except you want to hold for a long time, say a year. Aside that in the short term sell. I told those around me on Wednesday morning to sell all dollar holdings that same day. Naira appreciated about #100 before the end of that day as the FG was clearing backlogs in various banks.

You have been warned.

5 Likes 1 Share

Re: I Just Lost 400k by NapoleonHill: 9:42am On Nov 04, 2023

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

Why do you think this year will not be different?

This is not a good advise, sorry. There's no principle to back that up.

1 2 3 4 5 6 7 8 9 10 ... 17 Reply

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