Re: I Just Lost 400k by EconFinance: 12:10pm On Nov 04, 2023 |
Wujio:
Oga stop the wokeness. I said 750 range. I only cited 500-600 from extreme measures. Find something meabingful to do ymwith your time Something is wrong with you . You just don't know it yet Wetin come bring this stuoidd talk you just talk upstairs ? 1 Like |
Re: I Just Lost 400k by Free2Fly: 12:10pm 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 😫 Relax, this fickle minded boy. The naira gains are just temporary, there's nothing on ground to sustain it. Once the millions of dollars they borrowed to create artificial surplus fizzle out, depreciation will kick in again. |
Re: I Just Lost 400k by ufotunang: 12:10pm 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 better withdraw your money now. Because when Dangote refinery and other refineries start by December 2023 the dollars will fall more and more 2 Likes |
Re: I Just Lost 400k by Wujio: 12:12pm On Nov 04, 2023 |
EconFinance:
Something is wrong with you . You just don't know it yet Wetin come bring this stuoidd talk you just talk upstairs ?
E be like say your brain dey pain you abi. |
Re: I Just Lost 400k by kingxsamz(m): 12:15pm On Nov 04, 2023 |
flokii: Most Nigerians are unpatriotic and it saddens me.. I doubt you'll ever see an Indian pray for their currency to fall so they can gain from hoarding of US dollars.. Our people should stop this greedy lifestyle and put the future of their kids into consideration.
I told a guy on here not too long that Naira will appreciate, he didn't believe reason being that whatever goes up in Nigeria doesn't come down.. I simply told him it'll shock him and today it's shocking everybody.
If you have joined bandwagon of unpatriotic individuals saving in dollars, premium tears is your portion if you don't back out before December. Yeah, certain Nigerians "praying" for the downfall of the country is responsible for the failure of the government, not those who are budgeting over 50billion naira to purchase foreign cars or billions of Naira to renovate a building or to buy a luxury yacht. You people are clowns. 1 Like |
Re: I Just Lost 400k by ibawon(m): 12:15pm On Nov 04, 2023 |
Una no dey come down. Invest only what you can afford to lose, you see this dollar way fall, before months end he go rise 1 Like |
Re: I Just Lost 400k by Mase2020g(m): 12:17pm On Nov 04, 2023 |
I lost 4k I near collapse
Na u lost 400k
Sometimes, majority are scrap . |
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Re: I Just Lost 400k by ppogba: 12:20pm On Nov 04, 2023 |
bemeruca: Stop making stories out of the Dollar situation to catch Nairaland clout. If you invested, there would have been a story about that. Very well said. I am yet to understand what they get and gain from the clout they chase all over the social media. |
Re: I Just Lost 400k by PoliteActivist: 12:21pm On Nov 04, 2023 |
oliverwrites: I am only guessing. I am a digital marketer and earn in dollars. Just got a payment in and I am not converting it till maybe Wednesday. I think it will settle at 750 eventually but that will be dependent on dangote refinery. You keep harping on Dangote refinery. Can you please give an explanation |
Re: I Just Lost 400k by PoliteActivist: 12:21pm On Nov 04, 2023 |
ufotunang: ...you better withdraw your money now. Because when Dangote refinery and other refineries start by December 2023 the dollars will fall more and more Please explain HOW |
Re: I Just Lost 400k by Pootle: 12:23pm On Nov 04, 2023 |
Wujio:
Stop giving unreasonable advice. Do you know people loose as much a $1 Billion from these kind of things ? dont mind them o |
Re: I Just Lost 400k by ppogba: 12:26pm On Nov 04, 2023 |
InvertedHammer:
/
Pay attention next time. What is driving the exchange rate has nothing to do with Nigeria. Jerome Powell(US equivalent of CBN governor) kept interest rate steady on Wednesday and US$ crashed against other currencies. Euro, pounds, Australian dollars, etc all recovered against US$. That's what helped naira and not Tinubu nor Nigerian CBN.
/ Sorry to disagree with you sir. Even when the US reserve bank has been moving it's rate up and down, the Naira has been crashing. For now, the CBN' effort at clearing the backlog of forex due the banks in solely responsible. The securitization of the NLNG 7 billion dollars will do more. No be today US dey maintain rate abeg. 2 Likes |
Re: I Just Lost 400k by Nobody: 12:27pm On Nov 04, 2023 |
pocohantas:
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. Like!! any small thing go and buy dollar, go and buy dollar as if they are in control of dollar rate . It's just a chance of luck for those who have money saved in USD already not a business venture. I'm sad Op finally fell for nonsense advise.
Later they will blame their leaders for everything. 2 Likes |
Re: I Just Lost 400k by ppogba: 12:29pm On Nov 04, 2023 |
Deogratiasfx:
Pls educate them. You need the education more. Shey, na today US Reserve bank begin maintain interest rate? Get education before you direct others to get it. 1 Like |
Re: I Just Lost 400k by sulaimania2003(m): 12:32pm On Nov 04, 2023 |
This is not how to invest in Dollar. How there you keep USD.yo |
Re: I Just Lost 400k by ppogba: 12:33pm On Nov 04, 2023 |
bemeruca:
Define investment
Speculation, which the OP did is NOT an investment. I agree with the guy 100 percent. You can call every other thing investment. |
Re: I Just Lost 400k by mayorkent(m): 12:33pm On Nov 04, 2023 |
Hold bro , e no get as e wan be ... dollar go reach 1500 at some point again. |
Re: I Just Lost 400k by koyeni(m): 12:35pm On Nov 04, 2023 |
pocohantas:
She has a low appetite for risk. I doubt she bought any dollar sef. E for better if she commot like 500k from the money to buy and sell okporoko.
Indeed it would rise again, but what she ventured into is for people with a lot of spare cash to hoard. That way they can forget it for months and even a year. I followed her first thread jare.... she no buy anything...she just dy carry us play for here |
Re: I Just Lost 400k by folake4u(f): 12:37pm On Nov 04, 2023 |
Persephone1: Like!! any small thing go and buy dollar, go and buy dollar as if they are in control of dollar rate . It's just a chance of luck for those who have money saved in USD already not a business venture. I'm sad Op finally fell for nonsense advise.
Later they will blame their leaders for everything. E come be like say people like us wey nor buy dollar never serious with our life. 4 Likes |
Re: I Just Lost 400k by seanwilliam(m): 12:38pm On Nov 04, 2023 |
I lost around 520k or so but I’m used to it as a trader. 1 Like |
Re: I Just Lost 400k by Deogratiasfx: 12:40pm On Nov 04, 2023 |
ppogba:
You need the education more.
Shey, na today US Reserve bank begin maintain interest rate?
Get education before you direct others to get it. Pls give me more education. I am not tired of learning |
Re: I Just Lost 400k by uzoexcel(m): 12:42pm 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 😫 Hold it till January. The next sch fees cycle for Europe will open then..lots of people will source dollars...companies first quarter budget also kicks in so procurement depts will usually be busy sourcing dollar. 1 Like |
Re: I Just Lost 400k by Omoawoke2(m): 12:43pm 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 😫 Only in Nigeria people try to make money off their national currency. So we should come and dash you money because you get kpekus? Well, I won’t be surprised if one or two foolish men dm you |
Re: I Just Lost 400k by doggedfighter(f): 12:44pm On Nov 04, 2023 |
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Re: I Just Lost 400k by bemeruca: 12:46pm On Nov 04, 2023 |
jackmrandy:
the action or process of investing money for profit. What I am saying in actual sense, is that what you did was not a good investment considering the factors on ground now. But understand that in investment, you either lose or gain. But in your own case now you have lost and you ran quickly to cry to us about your loss. I am very sure, if it had profited you, we will not hear pim from you. So bear the loss bro. It has happened it has happened. Same happened to me 2021/2022 crypto. what makes you a man is your ability to bear the loss. jackmrandy:
The increase in dollar which you want, will cause more untold hardship to Nigerians and many companies. I quit understand you are running at loss already. But understand something buying another currency with the hope its going to increase in the future is not an investment. Those who advised you, advised you wrongly. there are other investment you could have done . FIXED ASSETS like land is what you should have invested your money into. Buying dollar to keep is like buying cryptocurrency like bitcoin and others. YOU either withdraw your money now and let go of the loss, or if you can take more risk, leave it and see if it will appreciate more again. This your post them tire me. Have you ever put money in somewhere with no hope of making profit? All of una think say land na the investment of all time. Have you tried selling a land? Can't you tell it instantly? |
Re: I Just Lost 400k by ppogba: 12:47pm On Nov 04, 2023 |
GeneralDae: Don't just rely on what people say. If you want to do this type of investment, you follow news on finance ministry and the CBN to know how to take your risk and predict the naira to the dollar. Unfortunately, these are the set of people that will change their TV channel the moment it is time for business news on Arise, TVC or channels. Extremely lazy Nigerian youths. |
Re: I Just Lost 400k by Deogratiasfx: 12:49pm On Nov 04, 2023 |
kingxsamz:
Yeah, certain Nigerians "praying" for the downfall of the country is responsible for the failure of the government, not those who are budgeting over 50billion naira to purchase foreign cars or billions of Naira to renovate a building or to buy a luxury yacht. You people are clowns. Some of us used to think this way until we understand the Nigerian system and then we gave up. The average mind set of Nigerians is so selfish, and filled with religion, tribe and greed. |
Re: I Just Lost 400k by bemeruca: 12:50pm On Nov 04, 2023 |
ppogba:
Speculation, which the OP did is NOT an investment. I agree with the guy 100 percent.
You can call every other thing investment. Investment is all about speculations. You don't have a time machine. |
Re: I Just Lost 400k by ppogba: 12:53pm 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. Investing in the NSE is not for lazy fools. It has its own intricacies. Nigerian youths are too lazy for that. |
Re: I Just Lost 400k by KingOfAmebo(m): 12:53pm 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 bought late, keep holding or cut your lose now....chances that it will rise again is high. |
Re: I Just Lost 400k by ppogba: 12:55pm On Nov 04, 2023 |
bemeruca:
Investment is all about speculations. You don't have a time machine. Sir, with all due respect there is a difference between speculation and risk taking. Investing in any venture is taking a risk. Not even investing is taking a risk. Speculation is different sir. |