BLAQBOYFLY:
OK! So if you're new to investing or stock trading i'd advice you not to go with most of if not any of the Nigerian "trading platforms" & i know how this sounds but here's the thing:
If you're not already experienced with trading,graphs & indicators then most of the other trading platforms based outside of Nigeria would help you a whole lot better than the ones here because the ones here are also new just like you & would require time to configure their "product or platform" to better suit the everyday trader/investor. For example if i open a $10k position on a stock,based on trove's fees i'd pay $100 fee for that at 1%. Platforms like this are definitely not for you even if you're not trading with $10k. Just head over to the fees page on trove to see the disgusting fee structure they have. If you're buying us stocks for example you pay a 1% fee of the total amount for buying & the same goes for selling. So at the end of the day if you have to close a position at a loss you'd be loosing at both ends of the stick. Oh,their terms & conditions are equally flawed. Most people won't mind these things maybe cuz you have limited information & don't know about the wealth of platforms at your disposal but as always,Do Your Due Diligence.
Bamboo charges a whooping 2.9% for depositing with a USD card & then charge a 1.5% "commission" on buying & selling US Stocks. They also have fees for instant deposit as apparently your deposit won't be instant but if you want that there's a fee for that. LMAO!

Are you thus saying that Bamboo's fees are too excessive?

it's a RIPOFF. There is no reason they should charge such fees.

DexterousOne:


Are you thus saying that Bamboo's fees are too excessive?

BLAQBOYFLY:
it's a RIPOFF. There is no reason they should charge such fees.

Oww
Okay


But you know as a Nigerian company
You compete from a disadvantage position due to the kind of environment we are in.

You cant compare them with the foreign ones in more established and sensible climes.

I'm just saying

Yes, they should look into price reduction

But I'm just trying to show you their plight

Teniolasmart:
Hello guy's, please what is the USD to naira rate on trove cause I'm thinking of not using bamboo as the exchange rate on that platform is too high (464 naira for a dollar) or which of the three apps(Chaka, bamboo and trove)offers the cheapest dollars to naira rate...

Just so you know

$1 is now 460

So the 464 you see there is not so far off the mark.


As at last week

Bamboo rate was 440+
So it depends on the general market

Teniolasmart:
Hello guy's, please what is the USD to naira rate on trove cause I'm thinking of not using bamboo as the exchange rate on that platform is too high (464 naira for a dollar) or which of the three apps(Chaka, bamboo and trove)offers the cheapest dollars to naira rate...

help guy's,u really need a reply to this

Teniolasmart:
help guy's,u really need a reply to this

Trove is N467.41 as at now.

RoddyMan:

Trove is N467.41 as at now.

Carelessness and Cluelessness of the Central Bank Governor and the vegetable we have in Aso Aso Rock is to blame for this


What were they thinking?

What're you talking about here? you're telling me that after seeing way better companies charging almost $0 in fees for trading & investing,people should sign up for bamboo & trade there because of their plight? smh,trading & investing is not a get rich shceme. you're more likely to loose money than make money tradng so adding fees in percentage to the equation only makes you behind other traders.

DexterousOne:



Oww
Okay


But you know as a Nigerian company
You compete from a disadvantage position due to the kind of environment we are in.

You cant compare them with the foreign ones in more established and sensible climes.

I'm just saying

Yes, they should look into price reduction

But I'm just trying to show you their plight

BullBearMkt:

...I don't know how much you appreciate Technical Analysis (TA). From TA point of view, the stock is in a correction taking the shape of a simple regular flat (for now) with and end at the shaded (c). However, the corrections may turn out to be zig-zag & in that case it could go further down as indicated with the line "c".

What I observe however, is that, there is a good support at around 29 & past couple of days volume at this level is increasing. Last 2 trading day candlesticks also give a bullish engulf. This is a good stock to buy between 30.5 & 32

Recent general market sentiments should be watched closely...

Is that a double bottom

BLAQBOYFLY:
What're you talking about here? you're telling me that after seeing way better companies charging almost $0 in fees for trading & investing,people should sign up for bamboo & trade there because of their plight? smh,trading & investing is not a get rich shceme. you're more likely to loose money than make money tradng so adding fees in percentage to the equation only makes you behind other traders.

Do you even understand what I am saying?


Did I make an argument as to why you should register for bamboo?

Or did I recommend anything to anyone?

Is it simple English that some of you dont understand?

All I'm saying is....
I'm making a case as to WHY their fees are so high


Do you expect them to run at the same level (at least for now) with those foreign platforms?


Everyone should make his own choices

BUT
Know WHY their fees are high in the first place

Penboy:
Anybody looking at $NKLA at the moment?

@oakpearl and other ones?

What's your analysis?
I think it may touch 50 soon

...-ve news coming from the company today! NKLA confirms it has contacted and briefed the SEC regarding Nikola's concerns pertaining to the Hindenburg report; Nikola intends to fully cooperate with the SEC regarding its inquiry into these matters

opportunity to buy cheaper

Seniors in the House,

I need your input/recommendation on Just Energy and GEVCO am looking at their medium to long term prospects.

You're not making any case other than simply saying that they can't operate or run at the same level as foreign platforms because "inferiority complex" won't wound you in this country.
If you don't understand the process of starting or owning a brokerage platform in Nigeria i can break it down for you & it's something someone with a sizable startup cash & 3-4 developers can do.
Bamboo,trove & co do not own or even operate a single share that they offer on the platform,those shares are actually offered by a 'third party' brokerage firm in the US or elsewhere for a fee. All the company needs to do is buy or build their app then integrate the API & tools given to them by said 'third party' brokerage. In some instances where the company or app has a lot of users, your order-book can be bought by the third-party brokerage for millions, an example is Robinhood who sells their Order-book for millions of dollars. Now back to your initial talk,this business runs on quantity meaning it's better to have 100,000 users buying & selling for peanuts than having maybe 10,000 paying 1.5% per trade. There is nothing extra here as this is a software company so if you build out your product to compete with foreign platforms & keep cost extremely low & usher in said product to numerous African countries,you can have 1 million-2 millions users in a few years & then actually compete with whoever. People like you are the reason companies feed us shit in this country & we gladly eat it. FYI, Robinhood came out in 2015 as a relative nobody when Titans of the business like Charles Schwab,TD Ameritrade & E Trade were market leaders & today they have 6 million users & they were the first to start Buying & selling Shares for $0 & forced the BIG companies to follow suit. It won't actually cost these companies anything to provide stocks at extremely low fees or even $0 in fees as they already spend millions in marketing that they can save by offering $0 in fee & gain better market share. Software companies are run the same way & don't have the infrastructure problem that hold companies back in Nigeria so Inferiority complex is your problem.

DexterousOne:


Do you even understand what I am saying?


Did I make an argument as to why you should register for bamboo?

Or did I recommend anything to anyone?

Is it simple English that some of you dont understand?

All I'm saying is....
I'm making a case as to WHY their fees are so high


Do you expect them to run at the same level (at least for now) with those foreign platforms?


Everyone should make his own choices

BUT
Know WHY their fees are high in the first place

BLAQBOYFLY:
You're not making any case other than simply saying that they can't operate or run at the same level as foreign platforms because "inferiority complex" won't wound you in this country.
If you don't understand the process of starting or owning a brokerage platform in Nigeria i can break it down for you & it's something someone with a sizable startup cash & 3-4 developers can do.
Bamboo,trove & co do not own or even operate a single share that they offer on the platform,those shares are actually offered by a 'third party' brokerage firm in the US or elsewhere for a fee. All the company needs to do is buy or build their app then integrate the API & tools given to them by said 'third party' brokerage. In some instances where the company or app has a lot of users, your order-book can be bought by the third-party brokerage for millions, an example is Robinhood who sells their Order-book for millions of dollars. Now back to your initial talk,this business runs on quantity meaning it's better to have 100,000 users buying & selling for peanuts than having maybe 10,000 paying 1.5% per trade. There is nothing extra here as this is a software company so if you build out your product to compete with foreign platforms & keep cost extremely low & usher in said product to numerous African countries,you can have 1 million-2 millions users in a few years & then actually compete with whoever. People like you are the reason companies feed us shit in this country & we gladly eat it. FYI, Robinhood came out in 2015 as a relative nobody when Titans of the business like Charles Schwab,TD Ameritrade & E Trade were market leaders & today they have 6 million users & they were the first to start Buying & selling Shares for $0 & forced the BIG companies to follow suit. It won't actually cost these companies anything to provide stocks at extremely low fees or even $0 in fees as they already spend millions in marketing that they can save by offering $0 in fee & gain better market share. Software companies are run the same way & don't have the infrastructure problem that hold companies back in Nigeria so Inferiority complex is your problem.

What is this boy talking about?


It's okay then
I have heard you

BullBearMkt:

...-ve news coming from the company today! NKLA confirms it has contacted and briefed the SEC regarding Nikola's concerns pertaining to the Hindenburg report; Nikola intends to fully cooperate with the SEC regarding its inquiry into these matters

opportunity to buy cheaper

This one keeps making only the brave rich.
Too much risk around it, yet making many rich.

Let's see how low this news can drag it.
It will then be a case of what rocket high it gets "IF" SEC comes out with a clean bill of health statement.

In the spirit of transparency, I have finally cut my losses of $208 in GOCO and moved on to buy more JNCE.

Am on 59% profit in my initial investment in JNCE, and will invest GOCO funds into it to patiently recover that $208 and make further gains.

Not a buy or sell recommendation of either.
DD advised.

OakPearl:


This one keeps making only the brave rich.
Too much risk around it, yet making many rich.

Let's see how low this news can drag it.
It will then be a case of what rocket high it gets "IF" SEC comes out with a clean bill of health statement.

+ve thing about the news is the company's readiness to cooperate with SEC investigation -might just indicate they are clean

Nice work to oakpearl and the others baddest men on this thread, @blaqboyfly, please can you give the names of those foreign platform that trades on $0 because I think as a beginner those charges are much. I was on trove today, and i was not inspired by their charges at all.

ebuka1997:


Is that a double bottom

...If you call it that

BullBearMkt:

...If you call it that

I still day learn oh but I’m very much interested in patterns. Love when a stock bounces off support like that

I tried to add fund into my Trove account but was declined. The money has not been reverted back to my account. how can I get my money back?

For kushner to say this, the deal is close to being done. I got into fastly after the push down today. It’s moving now. Fastly fell because of the tiktok speculation, tiktok is their major customer.

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-09-15/kushner-says-oracle-tiktok-deal-hopefully-meets-u-s-approval

pls, does anybody know anything about good faith violation in Chaka app?? they said I have committed 3 good faith violation and won't be able to trade for the next 12months. I don't even understand their explanation of what the good faith violation is that I got in my mail. this is really annoying. Apparently I can't use fund that I got from selling a share to immediately buy another company share without waiting for at least 2days for the fund to settle, that I have to deposit new fresh money if I must trade immediately. that if sell a share and use the proceed to immediately buy another company share without waiting 2days, it would means I have committed a good faith violation. I did it about three times. I want to know if this good faith violation thing is also in trove and Bamboo. let me know so I can leave chaka.

ebuka1997:


I still day learn oh but I’m very much interested in patterns. Love when a stock bounces off support like that

...lol! we are all learning every single day. I'm not a fan of pattern that's why I said if you say it's double bottom.

Good faith violation is a thing in trading tbh but very apparent in ALL the Nigerian apps. Unfortunately some do not give you a warning or notify you. Kindly withdraw your money, port to Trading212 and enjoy seamless trading

Lilosh:
pls, does anybody know anything about good faith violation in Chaka app?? they said I have committed 3 good faith violation and won't be able to trade for the next 12months. I don't even understand their explanation of what the good faith violation is that I got in my mail. this is really annoying. Apparently I can't use fund that I got from selling a share to immediately buy another company share without waiting for at least 2days for the fund to settle, that I have to deposit new fresh money if I must trade immediately. that if sell a share and use the proceed to immediately buy another company share without waiting 2days, it would means I have committed a good faith violation. I did it about three times. I want to know if this good faith violation thing is also in trove and Bamboo. let me know so I can leave chaka.

Apple event today

https://africa.businessinsider.com/tech-insider/apple-launches-fitness-plus-service-to-take-on-peloton/tthfndp#click=https:///7i0J1YG2nX

OakPearl:
In the spirit of transparency, I have finally cut my losses of $208 in GOCO and moved on to buy more JNCE.

Am on 59% profit in my initial investment in JNCE, and will invest GOCO funds into it to patiently recover that $208 and make further gains.

Not a buy or sell recommendation of either.
DD advised.

What's your exit point for JNCE chief?
Lemme copy trade with some few change.

P.S $JNCE is not available on Etoro, Trading 212.
But on our local fintech.

Lilosh:
pls, does anybody know anything about good faith violation in Chaka app?? they said I have committed 3 good faith violation and won't be able to trade for the next 12months. I don't even understand their explanation of what the good faith violation is that I got in my mail. this is really annoying. Apparently I can't use fund that I got from selling a share to immediately buy another company share without waiting for at least 2days for the fund to settle, that I have to deposit new fresh money if I must trade immediately. that if sell a share and use the proceed to immediately buy another company share without waiting 2days, it would means I have committed a good faith violation. I did it about three times. I want to know if this good faith violation thing is also in trove and Bamboo. let me know so I can leave chaka.

Good faith violation is also in bamboo.

A practical example of good faith violation, you buy apple shares worth 1000 dollars, after a period, you sell the apple shares and get 1200, immediately ie same day, you buy Tesla with the 1200, and for some reason you decide you don't want Tesla shares, the fintech are saying that you CAN'T sell the Tesla shares immediately untill after 2 days, if you do, that's a violation

In the past that 1200 you got from selling apple shares won't be available for use until after two days, people complained and the fintech solution was to come up with the good faith violation policy.

But to clarify the Penalty after 3 violations, in bamboo, you will be restricted from trading with Unsettled cash for a period of 90days. You can make deposit and trade, wait for the cash to settle and trade

STOCK ALERT

SNOWFLAKE

$SNOW

Snowflake will be listing in the New York stock market today. It's a cloud based data company, there is so much hype about it, projected to produce the biggest intial public offer in US history for a software company. They are worth checking out.

Check link below for more information


https://www.google.com/amp/s/www.marketwatch.com/amp/story/snowflake-ipo-five-things-to-know-about-the-berkshire-backed-company-as-it-heads-for-record-software-offering-11600182459

RabbiDoracle:


At least you know me, I don't make wild claim.

September losses for S&P 500, Dow and NASDAQ will need to accelerate this week till end of the month. Then October will be severe heat. Most supports will be crushed till it trades to that low.

When analysing chaos or disorder (like price movements of any asset over a period of time) , don't just look at one point, look at expanded pictures of the data sets. In looking at the expanded pictures, patterns will emerge and these (patterns) are determinable and measurable. Even the time-function of them can as well be ascertained. This means you can say with reasonable accuracy when the equity rout starts and ends.

Oga Sir good morning I need your opinion pls, I have been painfully averaging down on my JB for a while now. From 27+ am now at 22+ and honestly I done they tire lol. Abeg any advise and any new on their Bonus offer.

Cc CP, Mcy56

You can use the recent market correction to increase your holdings in quality stocks for long term investment. So much noise about bubble bust, the truth remains the quality stock will never be cheap like toilet tissue the way some so called analyst posited. So many Americans and others have cash from stimulus packages channeled into stocks. That is sure way of making money than starting a new business.
Big cooperations will want to use any market crash to mop up shares, so as long the coy has not declared bankruptcy, there is nothing to worry about market crash.
I am using average down method to increase my holdings.