Alexandre7:
All my portfolio is red today.

I won’t be looking at the market again today so I don’t do something stupid.

It’s one of those days you just sit & do nothing.

This is when traders make money for brokers.
They are tempted to sell when the market is red, only to jump back in when it turns green; and then realise a few cents was saved but heavy commissions accrued to the broker for selling and buying back.

Sometimes, the best trade is no trade.

I add AHT and HCA to my long term buy today

afroxyz:


Do they operate on zero.commission? What are their charges like

it's zero commission.

Hello good people, is there any info on the Rumour of Amazon acquiring Macy stores soon?

seyisanya:
I disagree. I think it is more of luck meets preparedness. You definitely understand this market. More wins, boss!

You are right. There's a a method to the madness. But you know even after researching, identifying a trend and buying a stock, the market has a mind of it's own.
For example, Docusign (DOCU) the company that enables paperless contracts has been on a tear since the pandemic. The stock caught my eyes in the $70s but I was waiting on the sidelines thinking it will sell off at some point as the valuation was over stretched. The stock has rallied without retreat to $177 today. It caught my attention again after I recently signed two different contracts for two different companies using Docusign. So it clearly means that they must have the lion share of the paperless contract business and quite frankly I don't even know of any other alternative.
With the explosion of new coronavirus infections in Texas and Florida I was looking for more companies that thrived and will continue to thrive during the pandemic. So on wednesday when DOCU fell about 4% from its intraday high, I pounced on it and bought the June 26th call options with a $170 strike price. I'm not sure how much you know about options but the closer the expiration date, the riskier the option trade. With just 2 days to expiration, you will almost need a miracle for the stock to move as high as you want it or the call option will expire worthless. On friday morning at market open, I was down 60%; I could've closed my position for a 60% loss and moved on, but this was a speculative trade, almost like a lottery ticket; my plan was to hold till expiration, whatever happens.
I fell asleep and woke up later to see that the stock rallied later in the day and the call option gained 430% or or $2981. So it's not just pure luck, but sometimes you still need the stars to align in your favor.
The most important thing about investing is risk management. Diversifying your portfolio, cutting your loss and only opening positions that make up a small percentage of your overall capital. If you have only $1000 to invest for example, maybe buy stocks in 10 different companies with an average allocation of $100 for each company, then set your max loss at 15% for each position. This way that 15% loss will only amount to 1.5% of your entire portfolio. A lot of new investors want to do YOLO trades so they allocate a large portion of their networth on one trade and when the market sells off, they get wiped out.

I've just been so busy lately, I barely have time to even post here, but will continue doing my best. More wins for us all!!

Please any one know which platform is better for buying Nigerian stocks between Trove and Chaka? Trove fees is x2 what they say it’ll be and chaka are marking up share price by 10% I don’t know if that’s what I’ll get charged though they said they are doing that to guarantee the order gets filled during the day. So I’m at a crossroad here anyone that has used any of these two or both should please enlighten.

YerYer:


You are right. There's a a method to the madness. But you know even after researching, identifying a trend and buying a stock, the market has a mind of it's own.
For example, Docusign (DOCU) the company that enables paperless contracts has been on a tear since the pandemic. The stock caught my eyes in the $70s but I was waiting on the sidelines thinking it will sell off at some point as the valuation was over stretched. The stock has rallied without retreat to $177 today. It caught my attention again after I recently signed two different contracts for two different companies using Docusign. So it clearly means that they must have the lion share of the paperless contract business and quite frankly I don't even know of any other alternative.
With the explosion of new coronavirus infections in Texas and Florida I was looking for more companies that thrived and will continue to thrive during the pandemic. So on wednesday when DOCU fell about 4% from its intraday high, I pounced on it and bought the June 26th call options with a $170 strike price. I'm not sure how much you know about options but the closer the expiration date, the riskier the option trade. With just 2 days to expiration, you will almost need a miracle for the stock to move as high as you want it or the call option will expire worthless. On friday morning at market open, I was down 60%; I could've closed my position for a 60% loss and moved on, but this was a speculative trade, almost like a lottery ticket; my plan was to hold till expiration, whatever happens.
I fell asleep and woke up later to see that the stock rallied later in the day and the call option gained 430% or or $2981. So it's not just pure luck, but sometimes you still need the stars to align in your favor.
[b]The most important thing about investing is risk management. Diversifying your portfolio, cutting your loss and only opening positions that make up a small percentage of your overall capital. [/b]If you have only $1000 to invest for example, maybe buy stocks in 10 different companies with an average allocation of $100 for each company, then set your max loss at 15% for each position. This way that 15% loss will only amount to 1.5% of your entire portfolio. A lot of new investors want to do YOLO trades so they allocate a large portion of their networth on one trade and when the market sells off, they get wiped out.

I've just been so busy lately, I barely have time to even post here, but will continue doing my best. More wins for us all!!

Good point!, thanks for sharing.

Iamsoulomon:
Please any one know which platform is better for buying Nigerian stocks between Trove and Chaka? Trove fees is x2 what they say it’ll be and chaka are marking up share price by 10% I don’t know if that’s what I’ll get charged though they said they are doing that to guarantee the order gets filled during the day. So I’m at a crossroad here anyone that has used any of these two or both should please enlighten.

Let me help you, bro. See, don't trade on the NSE with any of the Fintech platforms. Don't get me wrong, they're doing a wonderful job and I have an account with both Trove and Chaka. However, for Nigerian stocks, please go and open an account with Morgan Capital!

damurphy:
it's zero commission.

How did you go about proof of address using bank statement?

How did you go about deposits also

seyisanya:
Let me help you, bro. See, don't trade on the NSE with any of the Fintech platforms. Don't get me wrong, they're doing a wonderful job and I have an account with both Trove and Chaka. However, for Nigerian stocks, please go and open an account with Morgan Capital!

Okay bro I tried to download their app but I can’t find it online and are they safe?

Iamsoulomon:


Okay bro I tried to download their app but I can’t find it online and are they safe?

I don't think Morgan has app, try web version.
You can also use any of this app- ARMSTOCKTRADE, AFRIVEST, MERITRADE

afroxyz:


How did you go about proof of address using bank statement?

How did you go about deposits also

I used bank account statement for proof of address. For deposit I used SKRILL.

Iamsoulomon:


Okay bro I tried to download their app but I can’t find it online and are they safe?

They don't have an app. Yes, they are not only safe, but they also have one of the lowest buy/sell commissions. http://www.morgancapitalgroup.com

civilserva:


I don't think Morgan has app, try web version.
You can also use any of this app- ARMSTOCKTRADE, AFRIVEST, MERITRADE

I just created an account with meritrade but funny thing is it won't let me login, keeps saying info not correct and I know it's correct... I just tire for all this naija stuff sef

seyisanya:
Let me help you, bro. See, don't trade on the NSE with any of the Fintech platforms. Don't get me wrong, they're doing a wonderful job and I have an account with both Trove and Chaka. However, for Nigerian stocks, please go and open an account with Morgan Capital!

I endorse this advise.

YerYer:


You are right. There's a a method to the madness. But you know even after researching, identifying a trend and buying a stock, the market has a mind of it's own.
For example, Docusign (DOCU) the company that enables paperless contracts has been on a tear since the pandemic. The stock caught my eyes in the $70s but I was waiting on the sidelines thinking it will sell off at some point as the valuation was over stretched. The stock has rallied without retreat to $177 today. It caught my attention again after I recently signed two different contracts for two different companies using Docusign. So it clearly means that they must have the lion share of the paperless contract business and quite frankly I don't even know of any other alternative.
With the explosion of new coronavirus infections in Texas and Florida I was looking for more companies that thrived and will continue to thrive during the pandemic. So on wednesday when DOCU fell about 4% from its intraday high, I pounced on it and bought the June 26th call options with a $170 strike price. I'm not sure how much you know about options but the closer the expiration date, the riskier the option trade. With just 2 days to expiration, you will almost need a miracle for the stock to move as high as you want it or the call option will expire worthless. On friday morning at market open, I was down 60%; I could've closed my position for a 60% loss and moved on, but this was a speculative trade, almost like a lottery ticket; my plan was to hold till expiration, whatever happens.
I fell asleep and woke up later to see that the stock rallied later in the day and the call option gained 430% or or $2981. So it's not just pure luck, but sometimes you still need the stars to align in your favor.
The most important thing about investing is risk management. Diversifying your portfolio, cutting your loss and only opening positions that make up a small percentage of your overall capital. If you have only $1000 to invest for example, maybe buy stocks in 10 different companies with an average allocation of $100 for each company, then set your max loss at 15% for each position. This way that 15% loss will only amount to 1.5% of your entire portfolio. A lot of new investors want to do YOLO trades so they allocate a large portion of their networth on one trade and when the market sells off, they get wiped out.

I've just been so busy lately, I barely have time to even post here, but will continue doing my best. More wins for us all!!

So it's not just pure luck, but sometimes you still need the stars to align in your favor.

Isn't that what is called lady luck? And that sleep was good for your heart and wallet.

seyisanya:
Let me help you, bro. See, don't trade on the NSE with any of the Fintech platforms. Don't get me wrong, they're doing a wonderful job and I have an account with both Trove and Chaka. However, for Nigerian stocks, please go and open an account with Morgan Capital!

Or open with Meristem

DexterousOne:


Or open with Meristem

I just opened it, pending verification. Bro do you know their fee? Is it better than chaka and Trove?

Iamsoulomon:


I just opened it, pending verification. Bro do you know their fee? Is it better than chaka and Trove?

Opened with Meristem?

DexterousOne:


Opened with Meristem?

Yes

Hi All, I have followed this thread from the first page and have gleaned insights on equities et al. Thanks @Oakpearl, @YerYer, and others for this wealth of information. I would like to know if any of the Fintech apps (Trove, Chaka, or Bamboo) offers special orders option (Stop orders and Limit orders) for fractional shares and if any allows withdrawal to a USD domiciliary account at the moment.

Iamsoulomon:


Yes

I have used them for years

No problems encountered whatsoever.


How much was the fintech companies charging for Nigerian stocks sef

DexterousOne:


I have used them for years

No problems encountered whatsoever.


How much was the fintech companies charging for Nigerian stocks sef

Trove more than 2% and chaka mark up stock price 10%. Bro using meristem do you usually fill forms to receive your dividends?

Iamsoulomon:


Trove more than 2% and chaka mark up stock price 10%. Bro using meristem do you usually fill forms to receive your dividends?

You will have to fill for an e dividend mandate....


Other bosses can explain the process to u

Iamsoulomon:


Trove more than 2% and chaka mark up stock price 10%. Bro using meristem do you usually fill forms to receive your dividends?

And btw

Over 2% is too high

DexterousOne:



You will have to fill for an e dividend mandate....


Other bosses can explain the process to u

I know the process boss, I thought they will be paying the dividends into the meritrade cash account but with e dividend now it will be paid directly to my bank account and I don’t want that

DexterousOne:


And btw

Over 2% is too high

Yeah I don’t understand chaka though, they increase stock price by 10% like if a stock price is 20 they add 2 to make the stock price 22, I don’t what that’s for

Iamsoulomon:


I know the process boss, I thought they will be paying the dividends into the meritrade cash account but with e dividend now it will be paid directly to my bank account and I don’t want that

Why dont you want that tho?


You can resend the dividend money back into your trading account by simple e transfer


That's no problem whatsoever


This is what I'll advice

Use ONE ACCOUNT you hardly use, or open a fresh one


JUST FOR DIVIDEND PAYMENT


Then from the account

If you want to reinvest

Then you send it back into your meritrade account


I believe you want to reinvest your dividend proceeds...

Which btw is nice

1kinggy:



So it's not just pure luck, but sometimes you still need the stars to align in your favor.

Isn't that what is called lady luck? And that sleep was good for your heart and wallet.

Absolutely, a little bit of luck plays a role. Imagine you buy high quality stocks today and tomorrow Russia attacks a NATO ally; it's safe to say the market will sell off. These are inherent risks that comes with investing. Long term investors will still have ample time to recover their loss but if it's a speculative trade like the short dated call option, its toast. The most important thing is having a higher win to loss ratio over a long period of time and that's not just pure luck.

I'm glad I slept off Friday morning, it was a bloodbath I didn't want to witness. EBAY, FSLY & DOCU saved me though.

Iamsoulomon:


Trove more than 2% and chaka mark up stock price 10%. Bro using meristem do you usually fill forms to receive your dividends?

10% markup is just criminal. If you are buying at 10% markup, you are already at such a disadvantage it's not even worth investing your money.

DexterousOne:


Why dont you want that tho?


You can resend the dividend money back into your trading account by simple e transfer


That's no problem whatsoever


This is what I'll advice

Use ONE ACCOUNT you hardly use, or open a fresh one


JUST FOR DIVIDEND PAYMENT


Then from the account

If you want to reinvest

Then you send it back into your meritrade account


I believe you want to reinvest your dividend proceeds...

Which btw is nice

Yeah lol but you know money has a way of tempting someone.... I’d prefer it’s in a place I can’t access but as it is now I don’t think I have a choice