₦airaland Forum

Here is the updated table.

My no. 5 entry is now in profit territory. Looks like God smiled on me. But frankly, I should have been more careful with this move. More entries with explanations on the way.

Wizecoder,

I have a personal proposal for you. I will get back to you via email.

^^^^^
Are you sure I can remember? Anyway, I will send the blank mail so we see what you have on the table.

Changed at N163 today in PH.

But perhaps, that is because there probably has been no dollar auctions because of the strike, hence dollars not so available.

People,

STOP COMPLAINING AND GIVE THEM THE GADDAFI TREATMENT!

In Port Harcourt right now, and only the NNPC filling stations are selling fuel. The queues are unbelievable,. Meanwhile, an armed robbery just occurred at Rumuokwuta branch of UBA, with gunshots around the Ozuoba/Rumuosi axis.

DIVIDENDS OF SUBSIDY REMOVAL!

Here are my trades for the week.

The first one was a loss. Oaid a price for ignoring the fundamentals for the EURUSD.

No. 2 was a strictly fundamental play. With the threat of an oil shutdown in Nigeria, crude started to edge up on Friday, pulling along the Canadian dollar with it. So this was a straightforward Rise/Fall trade with a 3 day expiration.

No. 3 was another great trade for the AUD, which was helped by some positive news coming out of China. China and Australia are located in the Oceania region, and China is a huge trade partner of Australia. Good news from China = Gain in AUD. Another straightforward call, but I had to put just a 2-hour expiration as most of the move was almost complete before we woke up in this part of the world. In addition, the chart pattern was a bullish one. A good Rise/Fall trade here.

No. 4 is a Touch/No Touch trade which has a minimum of 7 days expiration. I bet on a No Touch as I did not see gold going below the spot price at the time. There is a lot of risk in the market and so we can only expect gold buying at this time, not selling. With 2 days left, this trade looks set to be in the money.

No. 5 looks destined to be a loser. I foolishly decided to keep a 1-day expiration instead of 2 hours as I did for AUDUSD. If I had set a 2hr expiration, that trade would have been in the money. But alas, a reversal is in the works and I won't be able to make it.

The lesson here:

1) Pay attention to fundamentals.
2) WATCH YOUR EXPIRATION TIMES! A faulty expiration setting can turn a winner into a loser.
3) Use chart patterns to determine the price action of the asset you are trading. A good source is Autochartist, which not only shows you the chart pattern but tells you how long that pattern will be at work in the market.

Let us see how the rest of this week will be like.

If ex-militants can be paid N65,000 for doing nothing but constitute a general nuisance wherever they are camped, I do not see why we cannot pay social security cheques to the elderly and unemployed.

My problem has always been that just like the NAPEP payments under the OBJ regime, these same senators and HOR members will fill the lists with their relations and ghost names, hence defeating the aim of the program.

Are these lawyers not the ones that are paid to procure black market injunctions?

Fhemmmy:
Anyone have a clue the exchange rate?
How has the new gas price affected it on the street, please?

Too early. Plan to change some tomorrow so I will be able to communicate the exchange rate accordingly.

Fo[i]o[/i]ls!

Don't they know that the language that is heard very clearly is force?

They should start killing northerners in the mosques in Southern Nigeria to make a statement. Wetin be peaceful protests?

silibaba:
just pull the trigger for Gold and my broker took 85pip of spread from me

did anyone or is anyone experiencing this?

think is high time i start looking for another broker.

Spread for gold is between 50 pips and 100 pips, depending on broker.

Is this the first time you are trading it? Know your instrument before trading.

OP,

Govt does not need to use subsidy fund for elections.

As a citizen, are you privy to how much actually enters Nigeria's coffers from crude sales, non-oil exports customs duty, FIRS, telecoms licensing fees, taxes paid by oil companies, education tax, etc?

Is there an independent way of verifying the figures always reeled out by the CBN governor and the Finance Ministry technocrats?

There is a lot about Nigeria that its citizens have to start concerning themselves with. For me, the gain of this strike was not the price reduction, but the fact that light is beginning to shine on areas of Nigeria's wealth that were hitherto hidden from public domain.

May God punish all those Afenifere people.

When their man was president and sent soldiers to kill and rape in Odi, leaving thousands dead and hundreds of women infected with HIV, where were their condemning mouths?

Abeg make we hear word! What is good for the goose is also good for the gander!

The Niger Delta is the most viable region of the country. I do not know why we can't just pull out of this joke called Nigeria!

So where are those making noise that we are not in a military era?

Where is this happening please?

A popular musician of yesteryears once said:

"I am laughing all the way to the bank".

Whenever people yabbed him and made all sorts of foul remarks such as those abusing labour, he would say:

"I am crying all the way to the bank".

At some point, when he had so much money, he said:

"I am no longer laughing or crying to the bank. Now, I OWN THE BANK!"

So whether people laugh or shout or curse the labour leaders, they have at least become a few millions richer! Strike is now a money-vending machine!

At this point, what does protesting in Ojota achieve?

Why not go and turn off the oil pumps and MAKE A BETTER IMPACT?

Demdem:
So u think we still dey for military era eh? The police man who shot the poor boy last week still dey panti. May his soul rest in peace.

What is the difference between this pseudo-democracy we have now where a government is ramming its c[i]o[/i]ck into its people's mouths and when the people are shouting in pain, is telling them to open their mouths for deeper ramming

AND

a military government that forces you to fellate its draconian policies at gunpoint?

engineerd:
Its 2012, Let anyone try that and the story will be different! This is a fact.

What will be different? Do you have weapons? DO you have the expertise to deal with soldiers?

In case you forget, without NATO's help, Gaddafi would have squashed the Libyan rebels. Will you attract such sympathy from the US or any other country, seeing that GEJ is their stooge?

This is a very bad situation. And a dangerous one too.

Once during a protest in school, some dude went to a policeman and said something stupid, and a can of teargas was emptied into his face.

That singular action turned a peaceful protest into a mad riot! Unforgettable!

I pray there is no protester there who smoked ganja and decides to do something real crazy. I nearly got shot by a drunk soldier when I was working in a military barracks.

Remember Abacha's crackdown in 1993 that killed 4,000 Lagosians. Make dem dey careful o!

SO Tompolo is now in a position to do and undo in Warri.

I tire for our country o!

Well,

My oil play did not spike as expected, but it is no in a 60 pip profit position, which I will gladly take, considering that I had closed my mind to it. I equally played the USDCAD Rise/Fall on this and if it stays below my Friday strike price, I will bank 120% on that trade in the binary options market.

At least this will subsidize my fuel for a week or two.

Labour has asked that there should be no rallies.

Anyone going to Ojota especially with reports of soldiers being deployed there is risking his/her life!

Stay alive! REMAIN AT HOME!

This is where labour should hold the government to make sure that the TAM of all refineries and repair of the pipeline network is concluded in the next 6 months, and Emeka Offor's CHROME CONSORTIUM company that collected $750million for a TAM never conducted in 1999, be made to cough out that money or face prosecution.

Imagine the number one thief of them all asking EFCC to come and investigate PPPRA which is just a price setting body.

Is PPPRA the one giving out all the crude oil allocations to companies that surfaced overnight?

So it is when the strike is on that people will setup internet banking abi?

Who will process the forms and issue the particulars and tokens?

Why not levy Nigerians to pay N200 for the construction of a new refinery/revamp the old ones?

We are saying that all petroleum products should be refined here and no single drop imported. This way, Nigerians will not be paying more than N40 per litre for it.

How can Seun be advocating price increase? Is it that he isn't following the arguments against the government's position all this while?

I have never seen a greater a**h*le in my life than Labaran Maku. Unbelievable!

I think we should just split this country up make everybody go im papa house!

Our problem is the North. People like Tanko Yakassai who once remarked "let them go with their oil" typify their attitude towards the oil in the Niger Delta. They pretend they do not care, but they are actually not ready to let it go.

This is why Gowon fought the civil war, to keep the oil in Nigeria.

Oil and water do not mix, and very soon, both will find their level!