Forex Wahala

After many days of reading and researching Forex manual, i downloaded North Finance Trading platform on my Acer. After playing around with it, i felt i had the confidence to start trading. So i started a demotrading account with $3000. Since i am a fanatic of fundamental news( Am i the only one that hate technicals), i went to a nearby cybercafe to trade the 2.30am Australian Currency Retail sales News.

After having my dinner at a nearby restaurant, i logged on to the internet, and browsed until 2.25am. As i have practised entering and exiting a trade over and over again, i tried entering a long position by buying the EUR/AUD. At exactly, 2.30am, i noticed the market shut upwards, and it increased by 50 pips. Since that will be my second proper Fundamental analysis trading, i got a bit nervous.

At exactly 2.30, i lost my control, i tried entering position but my trading platform got wary. I guess there were loads of variations with the stop loss, take profit that the trading platform was just returning "Invalid parameter's set". After so much persistence and manipulating of the prices, i entered the market at the peak at exactly 2.32am. After another 30 seconds, i noticed the market was going back in a downtrend, and i was loosing terrifically.

To avoid further loss, i exit the trade. After considerable analysis, i concluded that there are quite many issues pertaining to it.

I summarised the lessons i learnt below:

1. Never allow your emotion rule your Strategy; If you allow it, as a new investor, you may lose your confidence, hence loosing more money.

2. Demotrade for at least 2 months: I'll say again, the reason most people lose money is because they want to start earning in a hurry

3. Make sure you perfect your strategy before trading with your money

4. Learn to use your trading platform properly; If you want to avoid getting burnt, you must..i repeat, you must be used to your trading software.

I'll say that i enjoy trading the news. Infact, i even go to the extent of using reuters.com to determine the type of news and also to listen what the news is all about. That makes the difference between a smart investor and a lazy one.

As for me, i have to go back to the drawing board, and perfect my trading strategies. I believe in persistency and i know it will help me reach my goal of being a successful trader quite quickly.

ArmDiscovery Fund: A low risk way of Investment...

While explaining to a friend of mine 6 months ago how he can invest with low risk by buying penny stocks, i noticed that he was not really interested in studying the market, doing repeated calls to stock brokers as well as reading analysis from websites and newspaper.
After careful and considerable analysis, i discovered that investing in mutual funds will be a perfect solution and i took my time in investing in one of them to see how it works. After searching online for the most appealing fund manager in terms of low start-up, good customer services as well as detailed explanation on how it works, i settled for Arm Discovery Fund.

I sent in an application form on the 25th of december, and i was directly attached to a Arm discovery agent who managed my account. i then fund my account with NGN10,000( which is the minimum), and guess what......my account has appreciated to about NGN14250, which
is an increase of about 9.5% every month! What would have been my gain had i invested N100,000?, N1,000,000?, I guess you can do the figures mentally.

So what is mutual fund?

its just a pool of money provided by individual investors, companies & organisations. A fund manager then invest the pool of funds by providing the highest yield with the lowest risk. One good thing about mutual funds is that of diversification, which is the idea of spreading money across different investments. Choosing to diversify funds basically reduces investment risk tremendously.
so basically the pool of funds is invested by the fund manager in stocks, real estates, Forex, fixed incomes, government bonds, oil blocs e.t.c and the professional management of the fund manager coupled with the high liquidty of shares in a mutual fund as well as the convenience of services is what makes mutual fund a better alternative for the lazy investor.
If you need to know more about Mutual funds, i suggest you read Mutual funds 101.
And so i'll recommend the Arm Discovery fund( not that i am on their payroll or something) as its the one that i have tried and tested. While there are the likes of IBTC ethical funds, Coral funds, i still prefer Arm Discovery fund as they have a low start-up of N10,000 and then you can deposit a minimum of N5,000 every month if you so much desire to build up your portfolio. Investing in arm discovery fund becomes more easier with the introduction of direct debit, which means that if you have an account with the likes of Guarantytrust bank, you could mandate your bank to automatically fund your account with armdiscovery fund every month.
Investing in the fund is done by buying units which is similar to buying on the Nigerian stock Exchange, except that buying the unit of the fund is to indirectly buy all the assets that the fund invest in. You'll also get a certificate of investment as well.

How to invest

Investment can be done, by first of all visiting the ArmDiscovery website, and reading more about the mutual fund, then you can make a decision on your start-up capital ( minimum is N10,000) which can be paid into any of their two bank accounts (GTB & First bank) and you'll recieve an investment certificate which will state the number of units that you bought in the fund. subsequent investment will be acknowledged investment
reciept will be issued.

So what next..
What are you waiting for?, This is more safer than investing in various HYIP that do not have any legal backing, nor have a future of sustainability. I personally was attached to a fund agent who basically taught me all the intricacies of the fund. Need i say as well that she was really nice and was willing to go extra miles in helping out, which i constitute to be a great customer service. For those who have enough reasons to believe me, you can contact Tina via email on florentine.ondoa@armdiscoveryfund.com or possibly ring up 08023585756 or visit their headoffice in ilupeju which is at 68C Coker Roadby Town Planning/Coker Junction,Ilupeju, Lagos.
Others can visit the website for more information at http://www.armdiscoveryfund.com/

Entrepreneurship: A new side of me........

I hurried into the main reception at lasfanik. Rather unusual of me, I was late for a business lunch I scheduled with a young entrepreneur at the restaurant which is also coupled with an internet café. I looked around in the restaurant as he waved his hand to ease me the pain of searching around. I settled at my favourite spot as we exchange pleasantries and viewing the activities going on in the busy restaurant cum café in a relaxed manner.

We ordered for lunch as I engaged him in a conversation. I was very impatient that I just wanted to start discussing right away. I fell in love with Forex a week earlier when Seyi Gbadamosi (The MD of Lydway Global) introduced it to me. I have since carried Forex Manuals around with me that I luckily met Tunde who seem to have the same passion with me, and I straightaway booked a talk over lunch with him couple of day’s earlier.

We discussed about the Foreign exchange market, trading platforms, fundamental and technical analysis and also the possibility of creating a solution through forex for young people to empower them financially, even before they get out of Uni, as it will ensure a peace of mind. I then further explain what my entrepreneurial outfit (10D Solutions) will be all about (More to come on that) and he simply believed so much in it and also encouraged me. After other discussions on the intricacies of starting up a small business as well as secrets to creating wealth, he excused himself as he had to visit some other places. I saw him off outside as I came back in to finish the rest of the meal I had abandoned for the great lessons I was learning.
I settled back into my chair as I masticate the rest of my food with so much impunity. I was already full to the brim but I manage to finish the rest of the traditional Iyan and Stew. After washing up my hands and brazing to get out of the restaurant for a colleague’s office, a young man walked up to me and demanded to see me. I simply motioned him to sit down as I noticed his uneasiness.

“How can I help” I said……
“Bro, please I want to do as you do” He said assuming vaguely that I understood him
“How I did? I don’t get what you mean” I said faking my accent.
“Bro’s you understand now”
“Sorry I don’t get you, in what way can I help u” I said seriously as I get impatient.
Ok bro’s you’ve just eaten, so I want to do as you do” He said smiling
“Oh….you mean you want me to get you some money to eat” I replied as I relaxed back
“Yes sir, but please don’t shout” He said looking around.
“Why didn’t you just come straight initially” I questioned as I fumbled in my hip pocket for change.
“I was afraid you might refuse me”
“My name is Gbenga, what’s yours? And what do you do?” I enquired with curiousity
“My name is X, and I am a HND 1 student of Iree Poly” He said not too proudly
I squeezed a N200 out as I hand it over to him, which he swiftly took off me and left his seat. For a split second, I called him back.

“How would you like to learn to fish rather than begging for fish” I offered, resting my hands on my chin.
“Bro’s I won’t mind now” He said
I drew into my bag as I gave him my business card.
“Can you meet me here tomorrow at 10.am, if you have any problems, please give me a call” I said reassuringly.
“Sure, I’ll come…definitely I will”
I nod my head in pity as he rushed out of the restaurant. I packed my bag and left for home.

***************************************************************************
The following day, I got to lasfanik very early at 9.am. There were couple of google campaigns that I needed to sharpen up and I got busy behind my laptop as I connect it to the internet. 10.am came and gone, so also did 11.am. I finished up my google analysis and noticed that it was already 11.30am. Mr X was nowhere to be found. He simply did not show up. I for once thought I should have collected his telephone number the previous day and simply call him to see why he did not come for my appointment. I later concluded that he is just a lazy person who is not intent on making money. This menace alone is what I notice since my staying in Nigeria for a bit of time. So many young people are not interested in working to be rich. They simply think that the money will come from heaven and they can’t be bothered about finding information to enhance productivity.
It’s been 5 days after, and Mr X hasn’t called me since. He sure saved my number on his phone that day, and he also had my card. I felt I needed to help him start making money on the internet through google adsense, adword, as well as start a small business or through Forex.

I guess such is the plight of so many young people that we tend to blame the government, the system, e.t.c and wait endlessly to be employed and if we get unlucky, we conclude in our sub-conscious mind that we ‘re being attacked from home

Am I the only one feeling this? If you feel me, please comment.

Notspecto, Treasureline Account re-instated

I have not being able to blog for a while. I intentionally went underground as i am engaged in the trending of a business start-up.
While i have heard recently about couple of HYIP accounts being suspended, i got a notiication email from proshare that the suspended accounts have been re-instated by EFCC. SO i think we( those of us that invested) can now heave a sigh of relieve.

More info can be found on the Proshare News website.