Tho it's sad to see everyone anticipating the naira crashes so lots can make profit...






... A sad reality 😞

Stop making stories out of the Dollar situation to catch Nairaland clout. If you invested, there would have been a story about that.

Deogratiasfx:


And what makes u think this person understand what he is saying?

I dont understand what you are saying really

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 and reinvest when it feels like its not moving for a long time,infact that's the time to put plenty

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 😫

/

Pay attention next time. What is driving the exchange rate has nothing to do with Nigeria. Jerome Powell(US equivalent of CBN governor) kept interest rate steady on Wednesday and US$ crashed against other currencies. Euro, pounds, Australian dollars, etc all recovered against US$. That's what helped naira and not Tinubu nor Nigerian CBN.

/

emerged01:

Bro,study what is going in Nigeria.

1 If Dangote refineries and other refineries come on board,is transaction going to be in dollars or naira,if it is going to be in Naira,bro cash out. If it is going to be in dollar,dollar is going up.

2 will crude oil companies that are going to supply the refineries demand naira or dollar,if they are going to demand naira,bro cash out.

If things go as planned by the Fg,dollar is going to crash more by December and the beginning of 2024.

God bless u. This is one major way naira appreciates not CBN pumping money into forex.

InvertedHammer:

/

Pay attention next time. What is driving the exchange rate has nothing to do with Nigeria. Jerome Powell(US equivalent of CBN governor) kept interest rate steady on Wednesday and US$ crashed against other currencies. Euro, pounds, Australian dollars, etc all recovered against US$. That's what helped naira and not Tinubu nor Nigerian CBN.

/

Pls educate them.

Fugazy2023:


I dont understand what you are saying really

That fellow is confused

jackmrandy:



The increase in dollar which you want, will cause more untold hardship to Nigerians and many companies. I quit understand you are running at loss already. But understand something buying another currency with the hope its going to increase in the future is not an investment. Those who advised you, advised you wrongly. there are other investment you could have done . FIXED ASSETS like land is what you should have invested your money into. Buying dollar to keep is like buying cryptocurrency like bitcoin and others. YOU either withdraw your money now and let go of the loss, or if you can take more risk, leave it and see if it will appreciate more again.

Define investment

Na all these obedients way they wait to say Shay b I tell Una, and the once way they sell gifts card, scammers and co they always pray for the dollars to rise because na win win for them, they will be able to troll this government and people who believe in this government, at the same time cash out well for them self that why if dollars crash them go day vex for themself and the government but no mouth to talk then

Freelancerr:
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.

kestolove95:
My frnd bought dollar for #1300 with the hope it will rise to 2k by Dec.... Omooooo God safe me

And if it does, he will buy goods driven up in price caused by inflation and currency devaluation with the fake gains.

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


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.

all this grammar wont help

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 😞

madam forex, crypto, gambling n this dollar shit are in d same category

They are mere market speculations n anything can happen anytime

Angelfrost:
People like you have no patience...! So, you shouldn't even be investing at all.

Is it today Dollar started temporarily depreciating against the Naira?!!

Just wait for a few weeks to a month... They can't artificially prop the Naira forever.

If Nigeria remains an import-based economy, the fall of the Naira will never stop.

She has a low appetite for risk. I doubt she bought any dollar sef. E for better if she commot like 500k from the money to buy and sell okporoko.

Indeed it would rise again, but what she ventured into is for people with a lot of spare cash to hoard. That way they can forget it for months and even a year.

Amen, same here. But u see this our politicians, they are the real problem. They don't want it to become valuable again because its depreciation favours them

Simdyofficial:
Keep it... Initial gragra from CBN. Importers cool cux of dollar rate.. I never import any thing since my last orders/shipments. Importers are borrowing now. But I pray naira gets its self back. Make things good for us all abeg. People are suffering o

NapoleonHill:


Why do you think this year will not be different?

This is not a good advise, sorry. There's no principle to back that up.

Even in the samples he cited,the trend wasn't consistent year in,year out.There were gaps in the years,some 3,some 2 and 1,showing those years he conveniently skipped,his hypothetical trend didn't hold.
Someone can equally use the converse:use those years he skipped to show that the Naira consistently failed to do well during this period.

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 😫

..
Send the 2.6m to me let me use and play two sure odd

koyeni:


I followed her other thread boss. The way she sounded. I doubt she really bought $$$. She just created this new thread as a way of feeling good

Or she created this thread to look for gullible people who'll ask for her account number to help her out...

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 😞

You better take your money now else you will cry harder by next week.

The second chart was what I took this morning at 6:19am. As you can see, the ask and bid prices have crashed between 6:19am and now (first chart) 10:01am.
FG is mopping off liquidity and many people will learn the hard way

pocohantas:
I read that thread and I couldn't understand why anyome would advise you to "invest" in dollar. The reason it was flying through the roof was people like you and your advisers in the first place. Some people said $/N1500 by December. I am happy you all are calm now. Feel free to hold on to your dollar or sell it. The latter would help the economy greatly.

They will even be mocking you by saying anybody not saving in dollars is stupid.

kestolove95:
My frnd bought dollar for #1300 with the hope it will rise to 2k by Dec.... Omooooo God safe me

😬😂😂😂😂😂

PissInside:
Sorry my love.

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

Damn nigger!

You still plan to 'pissinside' despite her loss.
You're not going to heaven with us

So 750 is OK

Wujio:
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

Nawa ooo.. so, some people are even praying that dollar should keep increasing against naira

Dollar will not increase for now, I will advice you count your losses and pull out. Regards

Ceasarceasar:
You better sell...

A frd of mine lost a million now..
I lost about 70k...

You better learn that Nairaland Forum is just to guide you, not expertise, considering those that the gaulibles audiences are more apolitical in their outbursts and are mostly footsoldiers of would be Politicians!
Seriously, FOREX dealings have huge Risks - just like Stock Exchanges and the Returns can be good,as the loss can also be devastating as well!
•If you are not a risk-takers, don't venture there!

pocohantas:


She has a low appetite for risk. I doubt she bought any dollar sef. E for better if she commot like 500k from the money to buy and sell okporoko.

Indeed it would rise again, but what she ventured into is for peopoe with a lot of spare cash to hoard. That way they can forget it for months and even a year.

Dem nor dey person say this Naira appreciation is temporary, like a tiny bump in the road.

The economic indicators are clear and point to a massive fall ahead.

So,it makes no sense for anyone to complain about the fall except you are a Dollar earner (like a Freelancer) who changes money every week.

I pray the dollar continue to go down more.

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 😫

You better keep your USD
No need changing back to naira and crystalizing your losses

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

I lost 80k from my investment and I thought I was about to have stroke.
I have more than enough las las.

tonididdy:
Tho it's sad to see everyone anticipating the naira crashes so lots can make profit...






... A sad reality 😞

A sad reality, but a Reality nonetheless.

Reality is not subject to anyone's wishes or aspirations... It just is.

Naira can't rise if it is not in demand!

It can never be in demand if no strong value is attached to it.

No strong value can be attached to it if we don't have at least 60% self reliance as a nation, and export at least 3x more than we import.

It doesn't matter what anyone wishes for Nigeria... What really matters is what those directly in charge of the nation's economy put in place to rescue it from this inevitable fall.