victichy:


Bamboo invited me to Join their Gold membership which comes with some good perks, like discounts of 1% on all tradings and less time to fund your account. I think the criteria might be 10k and above deposit or so.

10K in Naira or Dollars. Please clarify.

mikol:


I don't have bamboo. I only have Trove, Etoro and Chaka. I am trying to see the platform with the least charges. What percentage do you pay when purchasing and selling of stocks using bamboo?

Please I’m new to this, which is better between Trove and Chaka, all things considered. I know their service charge for foreign transactions is about the same from google but in terms of other things, I would like to which is better.

arduino:

10K in Naira or Dollars. Please clarify.

Hahaha...If it's gold membership, it can only be in USD!

TolulopeM:



Please I’m new to this, which is better between Trove and Chaka, all things considered. I know their service charge for foreign transactions is about the same from google but in terms of other things, I would like to which is better.

I use both, but I use Chaka more. Although they both have same transaction fees as you stated, Chaka has more to offer at the moment.

-You can cancel your order on Chaka IMMEDIATELY in case you change your mind, but you will have to contact customer care to do the same on Trove.

-You can make direct USD deposit into your trading account on Chaka even if it's $1, but on Trove you need at least $1000(I stand to be corrected), and again you have to contact customer care for the transaction to be executed. This is very important to note particularly if you have access to your own USD because the exchange rate is now crazy due to the ongoing situation.

But for the sake of objectivity, Trove has a better interface. So now, it's time to make a choice. HAPPY INVESTING!

millennium2012:
You nailed it bro. Well appreciated

Thanks, boss!

TolulopeM:



Please I’m new to this, which is better between Trove and Chaka, all things considered. I know their service charge for foreign transactions is about the same from google but in terms of other things, I would like to which is better.

I am sorry I don't have a clue too as I am also new to it. I have only opened an account with those three I mentioned but have not started to fund yet. Wanted to fund Chaka to start with but got to discovered that my account is still on verification. This is taking ages! Pulled a call to the customer service yesterday to find out what the position was but just for him to tell me they are waiting for cscs go generate a no. Very fustrating to me. Since I am not too sure if Trove has the same charges as Chaka, I decided to settle for Chaka which I know charges 1%. How long did it take you during the document verification process for your account to be completely verified?

seyisanya:


I use both, but I use Chaka more. Although they both have same transaction fees as you stated, Chaka has more to offer at the moment.

-You can cancel your order on Chaka IMMEDIATELY in case you change your mind, but you will have to contact customer care to do the same on Trove.

-You can make direct USD deposit into your trading account on Chaka even if it's $1, but on Trove you need at least $1000(I stand to be corrected), and again you have to contact customer care for the transaction to be executed. This is very important to note particularly if you have access to your own USD because the exchange rate is now crazy due to the ongoing situation.

But for the sake of objectivity, Trove has a better interface. So now, it's time to make a choice. HAPPY INVESTING!

Can you confirm how much is Trove transaction fee? Thought I read somewhere here that they charge a transaction fee of $2 for either buying or selling of stocks. Since I am not too sure of that and I have tried reaching out to the customer service to get to speak with them. The line is not connecting. Do you have a no I can reach them on?

Pls how do we know Chinese companies listed on the US stock exchange?

stokfrick:
Pls how do we know Chinese companies listed on the US stock exchange?

Read the company profile.

Over 2.4 million Americans filed for unemployment last week, as coronavirus job losses drag on

https://www.foxbusiness.com/economy/unemployment-claims-coronavirus-pandemic-may-16

More than 2.4 million laid-off workers applied for unemployment last week, the Labor Department reported on Thursday, as the coronavirus pandemic, and the economic catastrophe it's triggered, forced companies to continue slashing jobs.

The new report, which covers the week ending May 16, pushes the nine-week total of losses since states directed residents to stay at home and required nonessential businesses to nearly 39 million. All of the jobs created during the past decade have been wiped out; unemployment at this scale hasn’t been recorded since the Great Depression.

OakPearl:


Talking about airlines, there is a Brazilian airline that holds plenty of promise in capital appreciation:
AZUL.
It closed at $7 yesterday.

I already bought shares in DAL, LUV, UAL, and AAL.

I have also been reading up extensively on options and I want to diversify into options.

I see you're very experienced in options.

I was going through your posts on options and noticed sometimes you initiate a bullish spread.

i.e. For the Cisco Trade you initiated both a call & put simultaneously.

Does a bullish spread require you to initiate a call & put simultaneously?

It's been all red across the US exchanges. Looks like the much anticipated blood letting has begun.

Pls help.
Nept and nndm
Are they a good buy for mid/long term?
I think nndm has bottomed at $2.50

seyisanya:


I use both, but I use Chaka more. Although they both have same transaction fees as you stated, Chaka has more to offer at the moment.

-You can cancel your order on Chaka IMMEDIATELY in case you change your mind, but you will have to contact customer care to do the same on Trove.

-You can make direct USD deposit into your trading account on Chaka even if it's $1, but on Trove you need at least $1000(I stand to be corrected), and again you have to contact customer care for the transaction to be executed. This is very important to note particularly if you have access to your own USD because the exchange rate is now crazy due to the ongoing situation.

But for the sake of objectivity, Trove has a better interface. So now, it's time to make a choice. HAPPY INVESTING!

Thank you so much for your detailed response. I also noticed the nicer UI on trove. As regards having to contact customer service for certain transactions, what their response and resolution time frame please. If it’s fast enough, I think I’ll go Trove.

mikol:


I am sorry I don't have a clue too as I am also new to it. I have only opened an account with those three I mentioned but have not started to fund yet. Wanted to fund Chaka to start with but got to discovered that my account is still on verification. This is taking ages! Pulled a call to the customer service yesterday to find out what the position was but just for him to tell me they are waiting for cscs go generate a no. Very fustrating to me. Since I am not too sure if Trove has the same charges as Chaka, I decided to settle for Chaka which I know charges 1%. How long did it take you during the document verification process for your account to be completely verified?

It took like two days on trove but it was almost immediate on bamboo or I just didn’t notice cos I opened it but didn’t fund till 2 weeks ago.

seyisanya:
To start with, most of the stocks in my portfolio are for a long term holding period regardless of daily price movements in the market. I bought most in March and they are way in the green zone, three actually did 100%+ but sold two while I still hang on to CCL!

If you have a mid/long term horizon, I would say buy GROUPON(GRPN). Though I'm already up 50%, there is still a lot of upsides. Why? Strong balance sheet! $750 million in cash against $370 million non-current liabilities!! There are only a few penny stocks out there with such figures.

If you feel US schools might not resume face-to-face teaching anytime soon, then you might want to look at Zovio Inc (ZVO). I don't own this yet, I'm studying the price movement closely. My reason? Wonderful balance sheet. 93% of the market value backed by cash! That's what I'm talking about, baby!!

Finally, if you believe 5G will change the way data is produced, used and stored in the nearest future, then you might want to consider Quantum Corporation (QMCO). I don't own this at the moment but watching on Plasma TV

NB: No matter how great a business is, your entry price is very essential. Don't F.O.M.O(Fear Of Missing Out)! Build your cash chest and strike when the opportunity presents itself. Additionally, make sure the cash is available in your trading account while you wait for the time to take action.

You've got oil on your head.

Alexandre7:


Do you mind listing some of the health, consumer discretionary, financials and tech sectors you're invested in.

I'm planning on diversifying my portolio as well.

Wow, I've been in and out of different names but I will list the stocks I held the longest
Tech: Amazon (AMZN), Facebook (FB), Google (GOOGL), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), Netflix (NFLX), Adobe (ADBE)
Healthcare: United health (UNH), Abbott (ABT), CVS
Retail: Home Depot (HD), Costco (COST)
Financials: PayPal (PYPL), Square (SQ), Citi (C), Visa (V)
Utility: American Electric Power (AEP)
Auto: Tesla (TSLA)
Entertainment: Disney (DIS)
Airline: Southwest Airlines (LUV)

Most of these companies will profit a long term investor. Check them out and please do your own research.

mission08:


Nice comment! The Robotics companies is another area long term investors might consider when diversifying.

Wonderful perspective, I keep hearing AI and robots will take our jobs away from us, I might as well profit from the companies that take my job away. I'm not too verse in the robotics companies, do you mind mentioning some?

DreManuel:
For experienced traders preferably in the U.S.:

How do you navigate the wide gulf between short-term vs long-term capital gain tax rates?
Do you have any strategies for tax-loss harvesting while circumventing the wash-sale rule?


YerYer et al.

When I started buying stocks I won't lie to you, I held on to many stocks for at least 1 year just so that I could be taxed at the lower long term rate. Back then though I had little deductions or exemptions I could claim. Holding stocks as a long term investor has it benefits though, It limits impulsive trades and I got quarterly dividends from some companies. But now, my core portfolio is long term but I when I see short to medium opportunity, I jump on it without worrying about the tax rates. My philosophy is, if i'm making money and the government take their share, I still make money.

I'm not too savvy with tax-loss harvesting, however I know you are allowed to deduct up to $3,000 of loss from your total annual income every year. My Nigerian tax man takes care of all that for me.

YerYer:


Wow, I've been in and out of different names but I will list the stocks I held the longest
Tech: Amazon (AMZN), Facebook (FB), Google (GOOGL), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), Netflix (NFLX), Adobe (ADBE)
Healthcare: United health (UNH), Abbott (ABT), CVS
Retail: Home Depot (HD), Costco (COST)
Financials: PayPal (PYPL), Square (SQ), Citi (C), Visa (V)
Utility: American Electric Power (AEP)
Auto: Tesla (TSLA)
Entertainment: Disney (DIS)
Airline: Southwest Airlines (LUV)

Most of these companies will profit a long term investor. Check them out and please do your own research.

Okay, thank you.

I have also been reading up extensively on options and I want to diversify into options.

I see you're very experienced in options.

I was going through your posts on options and noticed sometimes you initiate a bullish spread.

i.e. For the Cisco Trade you initiated both a call & put simultaneously.

Does a bullish spread require you to initiate a call & put simultaneously?

YerYer:


When I started buying stocks I won't lie to you, I held on to many stocks for at least 1 year just so that I could be taxed at the lower long term rate. Back then though I had little deductions or exemptions I could claim. Holding stocks as a long term investor has it benefits though, It limits impulsive trades and I got quarterly dividends from some companies. But now, my core portfolio is long term but I when I see short to medium opportunity, I jump on it without worrying about the tax rates. My philosophy is, if i'm making money and the government take their share, I still make money.

I'm not too savvy with tax-loss harvesting, however I know you are allowed to deduct up to $3,000 of loss from your total annual income every year. My Nigerian tax man takes care of all that for me.

so those that trade from Nigeria will just loss for nothing. No tax deduction to claim.

Alexandre7:


I already bought shares in DAL, LUV, UAL, and AAL.

I have also been reading up extensively on options and I want to diversify into options.

I see you're very experienced in options.

I was going through your posts on options and noticed sometimes you initiate a bullish spread.

i.e. For the Cisco Trade you initiated both a call & put simultaneously.

Does a bullish spread require you to initiate a call & put simultaneously?

Sir, I believe that's one of my screenshot from years ago.
That option trade on Cisco (CSCO) is known as a long straddle. That's when you buy calls and puts of the same strike price with different expiration dates. This strategy works best in stocks with increased volatility. Regardless of which direction the stock price moves, that strategy makes you money. However this strategy will not work on less volatile stocks, you will lose money.

Happy to hear you are reading about options. TD Ameritrade also has the ThinkorSwim platform, it is the gold standard for option traders and it's completely free for members. If you haven't already, download the software on your computer and phone. You can analyse an option trade before entering, the analyser will show you how much you set to gain or lose based on the projected movement of the stock.

YerYer:


Wow, I've been in and out of different names but I will list the stocks I held the longest
Tech: Amazon (AMZN), Facebook (FB), Google (GOOGL), Apple (AAPL), Nvidia (NVDA), Microsoft (MSFT), Netflix (NFLX), Adobe (ADBE)
Healthcare: United health (UNH), Abbott (ABT), CVS
Retail: Home Depot (HD), Costco (COST)
Financials: PayPal (PYPL), Square (SQ), Citi (C), Visa (V)
Utility: American Electric Power (AEP)
Auto: Tesla (TSLA)
Entertainment: Disney (DIS)
Airline: Southwest Airlines (LUV)

Most of these companies will profit a long term investor. Check them out and please do your own research.

Some of the stocks like Amazon (AMZN), Facebook (FB), Google (GOOGL), Apple (AAPL) and Tesla (TSLA) are very expensive so I can't afford them.

i.e. TDAmeritrade doesn't allow Fractional Stock Trade so to buy a share of Amazon (AMZN) I would need $2,459.41

Meanwhile I bought 100 shares of Southwest Airlines (LUV) for $2,700 yesterday.

sonnie10:


so those that trade from Nigeria will just loss for nothing. No tax deduction to claim.

I'm not sure, but I thought if you buy foreign stocks as a Nigerian investor, you are exempted from paying income tax on it. If that the case then it's only fair if you cannot substatct your losses. I'm not sure though.

Alexandre7:


Some of the stocks like Amazon (AMZN), Facebook (FB), Google (GOOGL), Apple (AAPL) and Tesla (TSLA) are very expensive so I can't afford them.

i.e. TDAmeritrade doesn't allow Fractional Stock Trade so to buy a share of Amazon (AMZN) I would need $2,459.41

Meanwhile I bought 100 shares of Southwest Airlines (LUV) for $2,700 yesterday.

Lol I know they are expensive. But truth be told, these are the same companies that will fare better in the near future. If an investor has $10,000 to invest, does it matter if he spends it all on Amazon (AMZN), Tesla (TSLA), Google (GOOGL), Netflix (NFLX) or Apple (AAPL) or is it better if he spends it all on 100 companies whose stock prices are below $100? I don't know if this makes sense, all I'm trying to say is you shouldn't base your investments solely on stock price. I can understand if you don't have much capital right now to buy any of these stocks, but I think having some kind of exposure to them is essential. I believe you can buy fractional shares from the Robinhood app.

LUV is a great stock by the way

I

YerYer:


I'm not sure, but I thought if you buy foreign stocks as a Nigerian investor, you are exempted from paying income tax on it. If that the case then it's only fair if you cannot substatct your losses. I'm not sure though.

Nothing is free. That might be to avoid double taxation. They are taxed at one of the ends. Not sure duo.

YerYer:


Lol I know they are expensive. But truth be told, these are the same companies that will fare better in the near future. If an investor has $10,000 to invest, does it matter if he spends it all on Amazon (AMZN), Tesla (TSLA), Google (GOOGL), Netflix (NFLX) or Apple (AAPL) or is it better if he spends it all on 100 companies whose stock prices are below $100? I don't know if this makes sense, all I'm trying to say is you shouldn't base your investments solely on stock price. I can understand if you don't have much capital right now to buy any of these stocks, but I think I having some kind of exposure to them is essential. I believe you can buy fractional shares from the Robinhood app.

LUV is a great stock by the way

Let me sign up with Robinhood.

Thanks for the reply.

YerYer:
Square (SQ) the mobile payment processor reported wider loss than expected but revenue exceeded analyst consensus. They are poised to benefit from a contactless world as their Cash app is wildly used by teens and young adults. They should also benefit as more people get their stimulus check. I've been in and out of this name in the past and I plan to add if it dips more.

Closed out of Square (SQ) today for 11%. Too much bearish sentiment on the stock. Two analyst downgraded the stock this week. I'm still a believer, will buy back in the lower $70's.

ACB price is rising so fast! And I wanted to sell today, now I'm not sure any more.

TolulopeM:



Thank you so much for your detailed response. I also noticed the nicer UI on trove. As regards having to contact customer service for certain transactions, what their response and resolution time frame please. If it’s fast enough, I think I’ll go Trove.

Highly responsive.

mikol:


Can you confirm how much is Trove transaction fee? Thought I read somewhere here that they charge a transaction fee of $2 for either buying or selling of stocks. Since I am not too sure of that and I have tried reaching out to the customer service to get to speak with them. The line is not connecting. Do you have a no I can reach them on?

Please, send them an email. They respond in minutes!
hello at troveapp dot co

Please is there any way we Nigerians can get on WEBULL or ROBINHOOD, this trove, Chala and bamboo are not for day traders. Or is there any platform where we can day trade and allows Nigerians register.