I became consistently profitable since last year during the pandemic. Of course, I have a 9-5

Hismasterpiece:


How profitable are you? Do you have a job besides forex?

VeeVeeMyLuv:
It is not that Dollar is going up

Instead it is your naira that is diving downwards.

@ topic

1. Fisical responsibility and accountability.
2. The level of greed & corruption.
3. Human rights law.
4. Foi.
5. Ease of doing business
6. Level of insecurity
7. Amount of export to import.

I think these points are sufficient

correct. as a matter of fact, the dollar has been weak for sometime now, however naira is just so weak to take advantage.

SimplyFacts:


Kudos to you for this explanatory answer. Sorry to ask, are you sure this really determines the country's currency before I start telling others the same?

The situation with china explains it better- with all their export ,the dollar is still stronger. Why is this , because the central bank of china made it so.

jikins:


Thank you this made sense to me. But I still don't get it 100%. If I say want to import a goods that's say is $500 and I pay with my atm card in naira equivalent. Are you saying my bank then request dollar from cbn for them to pay on my behalf in dollar?

Bingo! Nailed it
The naira goes no where. It's worthless outside our shores. In the past the world used gold as the legal tender before the US used their mago mago

Hismasterpiece:


so the reason for our currency devaluation is because we don't export anything besides oil? But what about UAE? Isn't it the money they make from oil that's the reason their country is the way it is?

Demand and supply is one of the numerous reasons.
W
Basic economics we learnt in secondary school says that when demand is greater than supply, it brings about scarcity which in turn drives up the price.

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smeag0l:
I became consistently profitable since last year during the pandemic. Of course, I have a 9-5

Any advice you can give me as a beginner?

Don't trade with real money at the beginning.

Hismasterpiece:


Any advice you can give me as a beginner?

smeag0l:
Don't trade with real money at the beginning.

So you traded with real money and blew your account?

What other advice can u give me?

Don't trade with real money at the beginning

Hismasterpiece:


So you traded with real money and blew your account?

What other advice can u give me?

smeag0l:
Don't trade with real money at the beginning

Lol. Come one now. I already have a demo account with which i am trading. Give me more advice please.

Hismasterpiece:


Lol. Come one now. I already have a demo account with which i am trading. Give me more advice please.

Are u a somebody that has laser beam focus? Somebody that used to hear word? That follows instructions to the letter? Smart & brave? Then u are good to go!

Read and learn from babypips.com.
Read other books written by investment gurus. Books on economics, fundamental & technical analysis.

Read, read, read

When you've traded the demo account for 3 months ,let me know. I'll give you the second advice then

Hismasterpiece:


Lol. Come one now. I already have a demo account with which i am trading. Give me more advice please.

juniorstar:


If Nigeria can produce 90% of things consumed in the country and export them too our naira would be more valuable than the dinar.

Do u know that this is very possible

shantti:


Do u know that this is very possible

Very possible
We need to not only produce more but we need to patronize made in Nigeria not assembled in Nigeria..but made from scratch in Nigeria..I know we Nigerians like things from Haabroad..we cant dump the iphones for made in nigetia we cant dump the Mercedes,Toyota,Tesla for made in Nigeria..we prefer the Nike instead of the made in ABA...we prefer treating headache in Yorkshire. We prefer going to burj al Arab instead of going to our own in Nigeria..we say we are an Agricultural nation and yet we still practice unscientific agriculture that is highly inefficient to make matters worse we cant even feed ourselves as a nation.
We need power
We need to develop our mining sector
We need to train the youths in skills that is needed for fill various roles in the economy
We need to practice scientifically sound and efficient agriculture
We need advanced transport network..rail, road, air, water
We need to train the masses on financial intelligence
We need to have superb database so we can project into the future..how many doctors, engineers artisans, farmers, lawyers, and various skilled labour that would man the various industries. And also use the database to drive the economy
We need to remove govt agencies with overlapping functions..
We need to be wary of assistance from western nations and China and avoid modern day slavery via imperialism.

Oride from Opay, Bamboo, Risevest to mention a few

Hismasterpiece:


What inventions and companies have we banned? I only know of crypto and the abokifx saga..

AlwaysMotun:
Oride from Opay, Bamboo, Risevest to mention a few

Do you have any idea why they were banned?

smeag0l:
When you've traded the demo account for 3 months ,let me know. I'll give you the second advice then

Alright.

But tell me something.

Whats the highest amount you've made from any single trade?

VeeVeeMyLuv:
Are u a somebody that has laser beam focus? Somebody that used to hear word? That follows instructions to the letter? Smart & brave? Then u are good to go!

Read and learn from babypips.com.
Read other books written by investment gurus. Books on economics, fundamental & technical analysis.

Read, read, read

You also trade forex? How long have you been doing so?

I don't post such details

Hismasterpiece:


Alright.

But tell me something.

Whats the highest amount you've made from any single trade?

smeag0l:
I don't post such details

Okay, how long did you demo trade before you started to become good at it?

6 months

Hismasterpiece:


Okay, how long did you demo trade before you started to become good at it?

smeag0l:
6 months

Under what platform did you learn? Were you demo trading while learning? Were you applying what you were learning to your demo trading?