Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Smh. I recall stating clearly on the orevious threwd not to biy dollar at all at the current rate that it was too late. Do people ever listen at all?


What advice is that. Did i not clearly say dollar to naira value is in uncertain levels and not to attemot buying it. Many of us kept shouting dont buy dollars anymore una no dey here.


Keep your money in your bank account and thats your best investment for now

omoh..........fear not,dollar will kip increasing as long as tinubulation is on the throne.

u shall smile again..

If you're scared you can withdraw

Illegal1:
omoh..........fear not,dollar will kip increasing as long as tinubulation is on the throne.

u shall smile again..

Stop giving unreasonable advice. Do you know people loose as much a $1 Billion from these kind of things ?

You better sell...

A frd of mine lost a million now..

I lost about 70k...

Take advice of nairalanders at your own risk

Sorry my love.

Drop your account details,I'll send you 200k 😘

Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

,,

Now it will keep falling into this weekend, fall into next week till next week friday, it will keeo crashing. Hit the withdrawl now, it wont rise back to that 1,300 level again. It wont from this year end into next year, it is crashing towards 750/Naira. Ive been saying this for a while now

My frnd bought dollar for #1300 with the hope it will rise to 2k by Dec.... Omooooo God safe me

Wolfdevil:
Why is everyone complaining.

If you follow the market, this thing happens every year around this time. It will eventually rise even higher. The op should just calm down. It will rise even higher than #1300

I have lost 800k today but note that dollar isn't going high to 1300, unless dangote refinery fails. I am only waiting till it gets to about 1100 and then exit. I forsee dollar going to 750 before March unless Dangote refinery fails.

oliverwrites:
I have lost 800k today but note that dollar isn't going high to 1300, unless dangote refinery fails. I am only waiting till it gets to about 1100 and then exit. I forsee dollar going to 750 before March unless Dangote refinery fails.

Do you think it will even get to 1100 because I don't want to lose anymore money.

I am just feeling like a failure 😞

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Cc Nlfpmod

Nlfpmod

It is a speculative market... You had the duty of following the news keenly!!!
In the crypto world, we say "do your own research" and in Forex we say "Follow the news".

You failed to do any of the above

Athena6:


Do you think it will even get to 1100 because I don't want to lose anymore money.

I am just feeling like a failure 😞

It will fall further tomorrow. Fall again on Monday, crash again further into next week wednesday and crash again into next week Friday. This shii is crashing to 900/850 as it prepares to crash towards 600-700 next year. I have been crying this all over the forum for a while. Forget the loss get back your money

Wujio:



It will fall further tomorrow. Fall again on Monday, crash again further into next week wednesday and crash again into next week Friday. This shii is crashing to 900/850 as it prepares to crash towards 600-700 next year. I have been crying this all over the forum for a while. Forget the loss get back your money

Thanks for the advice, I guess I will just cut my loses.
It is very painful losing 400k in just a few days 😢

Athena6:


Thanks for the advice, I guess I will just cut my loses.
It is very painful losing 400k in just a few days 😢

Cut it. Its going down. There are businesses to do to make.profit.in Nigeria. You just have to be smart..example, you dont invest your 100% at once.in a single business. O wrong nau

Wujio:




Cut it. Its going down. There are businesses to do to make.profit.in Nigeria. You just have to be smart..example, you dont invest your 100% at once.in a single business. O wrong nau

Exactly! I was surprised that people advised her to invest in dollars at this point. It surely would have made more sense around that August that she was initially advised. Buying at that time and selling when it peaked would have gotten her huge profits. But that's crying over spilt milk. If OP get mind sha she fit invest like 500k into local rice as I can't see it crashing during festive season; maybe after though.

@OP
There are those who are cashing out when they get very good rice to sell. Don't just buy from anyone if you are interested. And don't buy because it is "cheap".
Wouldn't mention who you shouldn't buy from but I can recommend who you can buy from if you are interested. There are also a host of businesses to invest in that are not as volatile as this Forex market. You can contact @maryam1234 if you want to test it out (even with a very small amount).

Athena6:


Thanks for the advice, I guess I will just cut my loses.
It is very painful losing 400k in just a few days 😢

Find another business, run two to three cycles and you will be raising shoulder with the gains you will see. I have stopped raising ladies on this forum up after the last i raised has now become a problem for me.

Wujio:



Stop giving unreasonable advice. Do you know people loose as much a $1 Billion from these kind of things ?

omoh........who send dem?

Athena6:


Do you think it will even get to 1100 because I don't want to lose anymore money.

I am just feeling like a failure 😞

I am only guessing. I am a digital marketer and earn in dollars. Just got a payment in and I am not converting it till maybe Wednesday. I think it will settle at 750 eventually but that will be dependent on dangote refinery.

Close the position, you lazy speculator!

If you want to trade Forex, speculate with Eurusd, gbpusd, uscad, uschf; not with your local currency.

Stuuupid saboteurs must lose money.

Wujio:




Find another business, run two to three cycles and you will be raising shoulder with the gains you will see. I have stopped raising ladies on this forum up after the last i raised has now become a problem for me.

You mean like "keke" because I don't have strength for that kind of business.

Right now I will just focus on my work and leave any business plan for next year, I have gotten too many heartbreak in just a few months

Athena6:


You mean like "keke" because I don't have strength for that kind of business.

Right now I will just focus on my work and leave any business plan for next year, I have gotten too many heartbreak in just a few months

A woman at your stage seeks financial independence. This path is marked with losses and heart breaks. Your scars are proof of your pursuit. As you become more confidence in your approach and learn to master your emotions over value, you will make better moves.


Example, Rule Two, never invest more than 25% of your income as a novice investor.


Rule one : Never lose money, try as much as possible to looose only minimmal.money. Thus mentality guides you to prudence and tames greed replacing greed with risk assesstment. I have stopped losing money for almost three years straight. I hardly lose money unless third parties impact in ways beyond my control. When you stop losing money. You then enter the next stage of money that is management. If you stabilize your money with little loses and consistent profit however little, you can begin to begin to get ahead in the money game


Rule Three : Seek more and more information. Note profit in money making is not dependent on revenge, greed or lust.


If you try any business too soon, it will be out of revenge. Keep your money and be calm. Other profitable opportunities will come.

Omo! Naso una carry advice give op. She self jump enter fire.

Sometimes I no no if una de pray make con3 better or make e spoil, how una go de pray make dollar enter 1500 or 2k una no wish the con3 well?

OP count your losses and move on.
Secondly don't invest all your money in one particular business.

Wujio:



A woman at your stage seeks financial independence. This path is marked with losses and heart breaks. Your scars are proof of your pursuit. As you become more confidence in your approach and learn to master your emotions over value, you will make better moves.


Example, Rule Two, never invest more than 25% of your income as a novice investor.


Rule one : Never lose money, try as much as possible to looose only minimmal.money. Thus mentality guides you to prudence and tames greed replacing greed with risk assesstment. I have stopped losing money for almost three years straight. I hardly lose money unless third parties impact in ways beyond my control. When you stop losing money. You then enter the next stage of money that is management. If you stabilize your money with little loses and consistent profit however little, you can begin to begin to get ahead in the money game

Thanks for the advice

Athena6:
Last week I created a thread talking about how my japa plans have been crushed due to the increase in dollar.

Many adviced me to invest in dollar, this was the advice they gave me months ago but I did follow through because I wasn't sure.
My last thread hit front page and 90% of the comments were advising me to invest in dollars, one even quoted that in the past 10 years, the dollar haven't fallen but it increases every year.

One even called me a weak minded person and I am scared to take risks.
After everything I thought to myself, since so many people felt this dollar will keep on rising, maybe I should invest afterall life is all about risks.

Well guess what, dollar have decreased, I invested 3M in buying dollars and now in today exchange rate. I have 2.6M now and I either cash out now or hope it will increase.

Right now, I am very angry.
Those giving me advice should come and contribute the 400k for me o

Another thing, do you think the dollar will increase or should I just cut my loses.
I am so tired 😫

Cc Nlfpmod

Nlfpmod

calm down it 'll raise again.
it matter of time. it 'll increase again.
if you good in trading follow up with BTC and take advantage of the bullrun around the Conner to recover

Nigeria is actually happening to you bro.

May you recover one way or the other.

InshaAllah

You will succeed

I lost 140k! E no pain me sha because I was expecting but I still won't sell

Most of the people advising you on that thread are not into dollar market, they are hearing it as a lucrative form of trade

To Me is related to gambling, the difference is that this you can withdraw your capital.

Don't worry, bro.

Whether there's a refinery or not, it's likely to exceed the $1300 mark.

Just to clarify, I don't harbor any ill feelings toward the APC government or our homeland, but I can confidently say that from my nearly decade-long experience in the foreign exchange market, October and November consistently see the Naira's value rise.

If you have doubts, just look at the historical data – the numbers don't deceive.

2007 thread: https://www.nairaland.com/92060/naira-gaining-back-value

2016 thread:
https://www.nairaland.com/3406757/naira-strengthens-against-dollar-bdc

2020 thread: https://wap.nairaland.com/6285549/naira-500-dollar-today-28

2022 thread:
https://www.nairaland.com/7428352/why-naira-dollar-exchange-rate

oliverwrites:
I have lost 800k today but note that dollar isn't going high to 1300, unless dangote refinery fails. I am only waiting till it gets to about 1100 and then exit. I forsee dollar going to 750 before March unless Dangote refinery fails.