I bought USD when it was little above 1600 naira to 1USD, and I didnt sale it until last week when it was around 1240naira to USD.

Every 2 minutes I check online if the rate has gone up, always under undue pressure, thinking a lot about the loss. I eventually decided to dispose it and now i am a HAPPY MAN and praying for the dollar to crash more. I feel more patriotic to Nigeria now.

I will invest the money in something else and recover my loss.

My dollar hoaders please sell your FOREX now to avoid more losses.

You were misguided by hear sayers

Dangs1989:
I bought USD when it was little above 1600 naira to 1USD, and I didnt sale it until last week when it was around 1240naira to USD.

Every 2 minutes I check online if the rate has gone up, always under undue pressure, thinking a lot about the loss. I eventually decided to dispose it and now i am a HAPPY MAN and praying for the dollar to crash more. I feel more patriotic to Nigeria now.

My dollar hoaders please sell your FOREX now to avoid more losses.

it is not for EVERYONE........

You should not be doing this when you don't understand how it works.

You need to have bought it before it hit 900... and even now. You could have left it because by next election it will have risen again. be patient

blackpanthar:


it is not for EVERYONE........

You should not be doing this when you don't understand how it works.

You need to have bought it before it hit 900... and even now. You could have left it because by next election it will have risen again. be patient

you want him to keep till 2027, when it would have dropped to 600 naira. Are you one of the hear sayers as mentioned by the pister above?

Op has a kind heart and someone is advised him to keep till next 3 years

The funniest thing about speculators like this is that they think currency trading is like gardening you can just pick up as a hobby. Lol. Most of you forget that currency trading is a discipline on its own. There are people who had to hone their skill for years before being good at it. People go for courses to learn it. People lose a ton before mastering the skill. The way some of you treat it is like going to a medical store to buy surgery supplies and then think, automatically, you qualify as a surgeon. You people just sat at your home, punched the calculators on your smartphone, then started fantasizing on imaginary mega profits you will make once naira crashed to 5000

Lol... Naira to 1900 is very probably a multi-decade top; meaning, most of you might never see naira trading at such mark again, ever in your lifetime.

People who scored an A grade trading the naira went in pre-2020 when naira was still around 300-400 naira - people who used the dollar as a store of value. Proud to say: I am one of them. 2021 was the last time I ever used naira to buy the dollar. Every naira I've spent since then came from my profits trading cryptocurrency. Speculators like you came in to lose your hard earn money in the blowup phase (#1500-1900). To the novice, blowoff simply means mania phase - that phase when there is excessive euphoria - the phase when even the roadside mechanics, Uber drivers thinks they can make cool cash simply by buying the dollars - when it seems it's just too easy. That's the phase when the market seduce dumb money to the slaughter house.

You don't even want to imagine the kind of crazy gains the whales (those which deep pocket who actually move price) made by dumping dollars on you all at #1900. If you notice #1900 was touched once and it nosedived ever since - the top can't be anymore clearer.

JP Morgan warned you all that the naira was undervalued, you didn't listen. Standard Chartered Bank also warned you not to speculate, you didn't listen. I also warned - some ignoramus replied me with trash, low IQ thoughts. Now dust don dey settle, eyes don dey clear. Lick your wounds and don't try silly stunts like that next time.

Here's the link to the Standard Chartered Bank thread. Go there and have a good laugh. Kindly note the silly folks who I call "the confident ignoramuses" - next time, take their silly opinions about economics and trading, even politics with a grain of salt.

https://www.nairaland.com/7991452/standard-chartered-bank-warns-against

Dangs1989:
I bought USD when it was little above 1600 naira to 1USD, and I didnt sale it until last week when it was around 1240naira to USD.

Every 2 minutes I check online if the rate has gone up, always under undue pressure, thinking a lot about the loss. I eventually decided to dispose it and now i am a HAPPY MAN and praying for the dollar to crash more. I feel more patriotic to Nigeria now.

My dollar hoaders please sell your FOREX now to avoid more losses.

is it coins or cash? You nor get mind. When the CBN come after binance and BDC. The start defending the Dollars again you should have sell fast that time. For now they are peg the currency and defending it like the former CBN governor did. Tinubu floating and subsidy removal was a failure.

Shit happens

You've learnt your lessons

Put your loss behind you & move on bro

Best wishes!!!

People lost money. Body don cool now

fineboynl:
is it coins or cash? You nor get mind. When the CBN come after binance and BDC. The start defending the Dollars again you should have sell fast that time. For now they are peg the currency and defending it like the former CBN governor did. Tinubu floating and subsidy removal was a failure.

wallai na so, but in speculation one cannot think like that

They advised you guys to dispose your dollar but una no gree .

That's what greediness can cause sometimes

helinues:
They advised you guys to dispose your dollar but una no gree .

That's what greediness can cause sometimes

we were also advised to keep our dollars.

Anyway, I have since moved on, no longer worry for a second immediately I sold it.

Dangs1989:
we were also advised to keep our dollars.

Anyway, I have since moved on, no longer worry for a second immediately I sold it.

Only the Oppositions who never pray for the rate to drop advise una not the government

It's really unpatriotic to pray your national currency devalues.

Asonaijaaso:
Weak hands.
You should have bought more dollars....its called averaging down.

While the trend might be downwards, there will still be a sustained spike.
Thats how you become rich.

I will never pray or hope for it to spike. It is unpatriotic and the masses will feel the impact.

You want become rich at the detriment of others, right?

Dangs1989:
I will never pray or hope for it to spike. It is unpatriotic and the masses will feel the impact.

You want become rich at the detriment of others, right?

Unfortunately, the whole world is a food chain.
The lions eat the zebras, the zebras eat grass, the lions die and becomes manure to the grass to grow.
Such is life, money is taken from some people and then some other people become rich.
Everybody cannot be rich and everybody cannot be poor.
It has nothing to do with patriotism or me.
Its called life.

Asonaijaaso:


Unfortunately, the whole world is a food chain.
The lions eat the zebras, the zebras eat grass, the lions die and becomes manure to the grass to grow.
Such is life, money is taken from some people and then some other people become rich.
Everybody cannot be rich and everybody cannot be poor.
It has nothing to do with patriotism or me.
Its called life.

Vicious cycle

Hahahaha good one. You all that were hoarding dollars, how far?

Dangs1989:
I bought USD when it was little above 1600 naira to 1USD, and I didnt sale it until last week when it was around 1240naira to USD.

Every 2 minutes I check online if the rate has gone up, always under undue pressure, thinking a lot about the loss. I eventually decided to dispose it and now i am a HAPPY MAN and praying for the dollar to crash more. I feel more patriotic to Nigeria now.

I will invest the money in something else and recover my loss.

My dollar hoaders please sell your FOREX now to avoid more losses.

Sell wetin...I go keep am till next year.i Dave in dollars n pounds not naira

Nigerians are funny I remember creating a thread about this
https://www.nairaland.com/8014198/go-sell-off-those-dollars

Lmaooooo... Since I made my first post on this thread, I've seen a bunch of ignoramuses creeping in from their abode of stup!dity.

You all want to keep buying the dollar. Some even adviced the OP to average down. Abeg don't kill me with laughter.

What fundamentals will make the dollar increase from here? Abeg lecture me! What do you think will make the dollar increase against the naira from here on?

In trading, there's something called "the meat of the move is done", meaning that the deed has been done - the naira crash trend is over.

- Cardoso has successfully tamed the BDC
- He has tamed the banks too
- Dude and the EFCC are going hard after the forex street traders
- Dangote Refinery has started distributing diesel (diesel price has crashed and massive forex saved)
- Dangote will commence petrol distribution in few months (very likely price will crash or at least stabilize around 500-600; even more massive forex will be saved)
- The FG is gradually pumping the brakes on electricity subsidy (more revenue to be saved)
- BUA refinery is coming online by next year to compete with Dangote (expect more petrol price crashes)
- From the look of things, it seems Cardoso has started pegging the dollar rate

All these are happening and you think it's wise to keep investing in the dollar against the naira?

If you have sense, you should have at least noticed that the prices of goods and commodities has started coming down albeit slightly and for the most part, the surge in price has halted.

By June, local farm harvest will start hitting the market, thereby crashing the prices of foodstuffs. Lol

Many of you are playing with fire. It's better you take your money and go play 2 odds instead of cooking your brains with delusions of naira crashing back to 1900. Or rather go buy land and real estate with your money. The era of fast profit with the naira-dollar swap is over - generationally over!

Don't play! Or else, you gonna 'laaaarn'

Even multinational companies with top tier, world class financial analysts and trading experts chopped The Cardoso Koboko ; dem dey declare outrageous losses because of that naira volatility but you think you, with your #500k, are the Peter Durry of currency trading. ok, continue!

From the look of things, it seems dollar rate will continue hovering around 1100-1300 perhaps until the end of the year. And this Tinubu that I know will most definitely return dollar rate below 1000 before the elections in 2027. There was a reason he rushed all his forex saving policies immediately he came on board - the man knew what he was saying when he said "hit the ground running" during the election campaign. All his harsh policies came in very fast wotowoto so that he can have the next 3 years to get results and normalize the economy. You all keep underating the man, over and over and over and over again and it's why it always seem like the game is rigged in his favour.

Lmaoooooo... Like I've said, you gonna 'laaaarn'

EponObi:
The funniest thing about speculators like this is that they think currency trading is like gardening you can just pick up as a hobby. Lol. Most of you forget that currency trading is a discipline on its own. There are people who had to hone their skill for years before being good at it. People go for courses to learn it. People lose a ton before mastering the skill. The way some of you treat it is like going to a medical store to buy surgery supplies and then think, automatically, you qualify as a surgeon. You people just sat at your home, punched the calculators on your smartphone, then started fantasizing on imaginary mega profits you will make once naira crashed to 5000

Lol... Naira to 1900 is very probably a multi-decade top; meaning, most of you might never see naira trading at such mark again, ever in your lifetime.

People who scored an A grade trading the naira went in pre-2020 when naira was still around 300-400 naira - people who used the dollar as a store of value. Proud to say: I am one of them. 2021 was the last time I ever used naira to buy the dollar. Every naira I've spent since then came from my profits trading cryptocurrency. Speculators like you came in to lose your hard earn money in the blowup phase (#1500-1900). To the novice, blowoff simply means mania phase - that phase when there is excessive euphoria - the phase when even the roadside mechanics, Uber drivers thinks they can make cool cash simply by buying the dollars - when it seems it's just too easy. That's the phase when the market seduce dumb money to the slaughter house.

You don't even want to imagine the kind of crazy gains the whales (those which deep pocket who actually move price) made by dumping dollars on you all at #1900. If you notice #1900 was touched once and it nosedived ever since - the top can't be anymore clearer.

JP Morgan warned you all that the naira was undervalued, you didn't listen. Standard Chartered Bank also warned you not to speculate, you didn't listen. I also warned - some ignoramus replied me with trash, low IQ thoughts. Now dust don dey settle, eyes don dey clear. Lick your wounds and don't try silly stunts like that next time.

Here's the link to the Standard Chartered Bank thread. Go there and have a good laugh. Kindly note the silly folks who I call "the confident ignoramuses" - next time, take their silly opinions about economics and trading, even politics with a grain of salt.

https://www.nairaland.com/7991452/standard-chartered-bank-warns-against

@ the bolded, some of these guys approach currency trading with crypto mentality,not knowing currency trading is a whole lots of work. Crypto is like plug and play. Currency trading will humble you and instil discipline in you.

Strategy aside. Discipline, patience and self awareness must be your daily companion for you make consistent profits as a currency trader!

Toluajib:
Nigerians are funny I remember creating a thread about this
https://www.nairaland.com/8014198/go-sell-off-those-dollars

Lmaooooo! They always think the world is a tea party. Their gurus who advised them wrongly on Twitter have gone quiet.

I see them exhibit the same behavior on your thread like they did in the thread below: https://www.nairaland.com/7991452/standard-chartered-bank-warns-against

The Dunning–Kruger effect. Most of them found themselves at the Insecure Canyon *plays the "E Shock You!" sound*, but I know how most humans behave; pretty soon, they will return back to the Child's Hill.

What this one saying no be naija way we dey... Dollar go soon bounce bck

So many clowns up there trying to earn their 30k APC upkeep.

Hoarders, hold your dollars.

Speculators, now is the te to buy more dollars.


CBN cannot defend the naira forever, a crash is imminent.

Buy cheap.


Propaganda cannot save the naira.

Right now china investors are doing more to diminish dollars in Populous countries LIKE NIGERIA.
IF yoU naija boys ARE HOARDING DOLLARS,I HAV BEEN WARNING SINCE 7MONTHS NOW. SELL YA DOLLARS,IT WILL CRASH down to N400 TO NAIRA because GOVT HAND IS INVOLVED WITH CHINA ,WITH INDIA AND major WITH EUROPEan counties trooping into Nigeria .

leroi01:
So many clowns up there trying to earn their 30k APC upkeep.

Hoarders, hold your dollars.

Speculators, now is the te to buy more dollars.


CBN cannot defend the naira forever, a crash is imminent.

Buy cheap.


Propaganda cannot save the naira.

I have $10,000 I want to sell.. Interested?

Dangs1989:
I bought USD when it was little above 1600 naira to 1USD, and I didnt sale it until last week when it was around 1240naira to USD.

Every 2 minutes I check online if the rate has gone up, always under undue pressure, thinking a lot about the loss. I eventually decided to dispose it and now i am a HAPPY MAN and praying for the dollar to crash more. I feel more patriotic to Nigeria now.

I will invest the money in something else and recover my loss.

My dollar hoaders please sell your FOREX now to avoid more losses.

And this wad supposed to be the time when you buy the dollar.

You sold off cos that's what the moguls and those running the currency speculation wants you to do and you obeyed.

I've sold more than $5,000,000 worth of USDT to some individuals which they are agents of the real owners and i still don't know what they need it for but i know the Moguls are cooking something for the dollar.
Some want to purchase dollar but since it's not available, they go for USDT.

Don't be deceived, your politicians are currently piling up dollar funds and they wants every small dollar hoarder to sell so they can mop up all the dollar in circulation before the price start to rise again.

helinues:


I have $10,000 I want to sell.. Interested?

Bring it... what's your rate? I will buy it and more.

leroi01:
So many clowns up there trying to earn their 30k APC upkeep.

Hoarders, hold your dollars.

Speculators, now is the te to buy more dollars.


CBN cannot defend the naira forever, a crash is imminent.

Buy cheap.


Propaganda cannot save the naira.

Bro you don't need to explain to them. They will help those stocking now to push it more further when it starts rising cos they always enter late.

Right now, CBN has almost used up our FX Reserve.