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Finance Questions, Loans, Insurance & Investment Advice Latest Questions

deucher
deucherActive Contributor
Asked: April 26, 2024In: Money & Business

Do you have a favorite Forex trading pair?

In Forex, I prefer currency pairs because for me they are easier to forecast. But I don’t use all currency pairs because they are highly correlated. Most often, I use Euro Dollars and Japanese Yen Dollars. These currency pairs are ...Read more

In Forex, I prefer currency pairs because for me they are easier to forecast. But I don’t use all currency pairs because they are highly correlated. Most often, I use Euro Dollars and Japanese Yen Dollars. These currency pairs are very simple and during the day you can find many points to open a position

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  1. spencer
    spencer Enlightened Mentor
    Added an answer on July 1, 2024 at 8:21 pm

    Yes, I have a favorite pair, I trade only gold and it's been good to me, I also trade in the London session mostly, in trading what most people fail to understand is that less is more, you don't have to be in the market always, all you have to do is be a good trader and stick to one strategy and oneRead more

    Yes, I have a favorite pair, I trade only gold and it’s been good to me, I also trade in the London session mostly, in trading what most people fail to understand is that less is more, you don’t have to be in the market always, all you have to do is be a good trader and stick to one strategy and one pair.

    That’s the way of highly profitable traders in this business.

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Flower
FlowerActive Contributor
Asked: September 7, 2023In: Money & Business

Is dropshipping a good business for beginners online?

Dropshipping is regarded as beginner friendly business and it is a start up option for newcomers online. It’s a way to sell product without handling inventory. Explain more!

Dropshipping is regarded as beginner friendly business and it is a start up option for newcomers online. It’s a way to sell product without handling inventory. Explain more!

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  1. Mika
    Mika Expert Mind
    Added an answer on September 9, 2023 at 4:22 am

    It depends on what skills the person has. If the person has digital marketing skills and SEO skills, he might be successful in dropshipping business even if he is trying it for the first time, however, without digital marketing and SEO skills, it is not possible to succeed. If you have money to runRead more

    It depends on what skills the person has. If the person has digital marketing skills and SEO skills, he might be successful in dropshipping business even if he is trying it for the first time, however, without digital marketing and SEO skills, it is not possible to succeed. If you have money to run ads, you might also fairly succeed with dropshipping business. However, you still need marketing skills to run ads. If you don’t know how to run ads, you will burn your advertising budget.

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Maro Fex
Maro FexNewcomer
Asked: July 20, 2025In: Crypto & Forex

How can I start trading forex in Nigeria with just ₦10k?

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  1. Musa Saran
    Musa Saran Newcomer
    Added an answer on July 23, 2025 at 6:10 pm

    If you're in Nigeria and want to trade crypto safely using P2P, these are the top apps that actually work in real-life situations—not just on paper. 1. Binance P2P – Still the most reliable Most people I know who sell USDT or BTC daily use Binance. Their P2P market is active, and payments hit your NRead more

    If you’re in Nigeria and want to trade crypto safely using P2P, these are the top apps that actually work in real-life situations—not just on paper.

    1. Binance P2P – Still the most reliable
    Most people I know who sell USDT or BTC daily use Binance. Their P2P market is active, and payments hit your Nigerian bank account fast—GTB, Kuda, Opay, Zenith, etc.
    Example: I sold $100 USDT last week and got the alert in 4 minutes. I used a seller with 1,000+ trades and 97% rating. Just always confirm payment before releasing your crypto. Binance uses escrow for safety.

    2. KuCoin P2P – Underrated but works well
    KuCoin is gaining users in Nigeria fast due to lower fees and less KYC stress. You can filter Nigerian sellers easily.
    Example: My cousin avoids Binance because of ID verification. He sold $40 via KuCoin and got the payment through Opay in under 10 minutes.

    3. OKX P2P – Clean interface and fast support
    OKX is beginner-friendly and smooth. You can choose bank transfer or mobile money.
    Example: A friend buys USDT weekly for betting. He prefers OKX because sellers don’t cancel trades often like on Binance.

    4. Paxful – Still usable but not as active
    Paxful used to dominate before CBN’s crypto ban. It still works but has lower trade volume. You might wait longer to match with a trader.

    5. Bundle Africa – For small amounts and beginners
    Bundle is local and simple. Great for small crypto transactions and quick naira withdrawals, but not ideal for large trades.

    Real Talk Tips:

    Always check the trader’s number of completed trades and rating.

    Use your real name that matches your bank account.

    Never agree to off-platform deals—most are scams.

    Trade during the day for faster response and payments.

    If you’re just starting, I recommend: Binance for volume, KuCoin for flexibility, and OKX for ease of use. I use all three depending on who offers the best rate. Let me know your budget or goal and I’ll suggest the best fit.

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deucher
deucherActive Contributor
Asked: April 26, 2024In: Money & Business

Can I use the news to open a position?

It’s no secret that when important news comes out, the price starts to move very strongly in one direction. I tried to use such moments, but it is very difficult to guess in which direction the price will move and ...Read more

It’s no secret that when important news comes out, the price starts to move very strongly in one direction. I tried to use such moments, but it is very difficult to guess in which direction the price will move and then open a position in writing because such a movement is very short-term

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  1. Redditcat1
    Redditcat1 Active Contributor Digital marketer
    Added an answer on May 6, 2026 at 11:00 pm

    Let me tell you something if you are trading the financial markets this is what you need to do when the news is released, first use the price action indicator and check if you have a clear signal.Use trend line if you are trading forex compare several indicator of the news is either high or low impaRead more

    Let me tell you something if you are trading the financial markets this is what you need to do when the news is released, first use the price action indicator and check if you have a clear signal.Use trend line if you are trading forex compare several indicator of the news is either high or low impact news.

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Tered
TeredNewcomer
Asked: August 4, 2025In: Crypto & Forex

What is the best forex trading app that works in Nigeria

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  1. Avarose
    Avarose Enlightened Mentor
    Added an answer on August 5, 2025 at 8:26 am

    If you’re in Nigeria and want to trade forex, I’d say MetaTrader 4 (MT4) is still one of the best apps it's easy to use and trusted by a lot of brokers. MetaTrader 5 (MT5) is good too if you want extra features. Some people also like Pocket Option or IQ Option because they’re simple and beginner-friRead more

    If you’re in Nigeria and want to trade forex, I’d say MetaTrader 4 (MT4) is still one of the best apps it’s easy to use and trusted by a lot of brokers. MetaTrader 5 (MT5) is good too if you want extra features. Some people also like Pocket Option or IQ Option because they’re simple and beginner-friendly. Just be careful to use brokers that are regulated to avoid scams. And honestly, forex trading can be risky, so start small and take time to learn before you dive in fully.

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Ahmedo24
Ahmedo24Newcomer
Asked: August 10, 2023In: Crypto & Forex

How do you make money from Futures Trading ?

No doubt, cryptocurrency assets are volatile but despite this people are heavily investing in them and also trading them to make money. I am aware people also lose money, especially in futures trading which is termed to be risky. However, people ...Read more

No doubt, cryptocurrency assets are volatile but despite this people are heavily investing in them and also trading them to make money. I am aware people also lose money, especially in futures trading which is termed to be risky.

However, people on Youtube, telegram and other social media platforms share their earning proof with different strategies. Can you share with me any working strategy that can help me make money from futures trading either on Binance, Kucoin or any other exchange platform?

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  1. Svishok
    Svishok Expert Mind
    Added an answer on August 12, 2023 at 12:12 pm

    Making money from futures trading involves speculating on the price direction of an underlying asset, like commodities, currencies, or indices, at a predetermined future date. Traders can profit from both rising and falling markets. By taking long positions (buying) when anticipating an asset's pricRead more

    Making money from futures trading involves speculating on the price direction of an underlying asset, like commodities, currencies, or indices, at a predetermined future date. Traders can profit from both rising and falling markets. By taking long positions (buying) when anticipating an asset’s price will increase, or short positions (selling) when expecting a decrease, traders can profit from price movements. Successful futures trading requires thorough market research, technical and fundamental analysis, risk management, and a disciplined approach. Due to the leverage involved, potential profits are magnified, but so are potential losses. It’s crucial to educate yourself and consider using demo accounts before trading with real capital.

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Crystal
CrystalKnowledge Seeker
Asked: September 21, 2023In: Crypto & Forex

Would BTC going to be traded forever or would it stopped.?

Would BTC going to be traded forever or would it stopped.? Did you think such a thing can happen.? I mean BTC to stop movement.    

Would BTC going to be traded forever or would it stopped.?

Did you think such a thing can happen.?

I mean BTC to stop movement.

 

 

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  1. Precious
    Precious Knowledge Seeker KIDI CARE
    Added an answer on September 21, 2023 at 7:42 pm

    I have never think of such situation to happen in the crypto currency field, beside I can't really predict the future of crypto currency as the market is still functioning and interested to individual. Crypto currency has become people source of income which enable individual earn income through onlRead more

    I have never think of such situation to happen in the crypto currency field, beside I can’t really predict the future of crypto currency as the market is still functioning and interested to individual.

    Crypto currency has become people source of income which enable individual earn income through online, so it’s unlikely impossible to stop trading crypto currency.

    The regulation to trade crypto currency may change but trading will continue as it’s show positive impact to the society.

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eldavis
eldavisEnlightened Mentor
Asked: August 6, 2025In: Crypto & Forex

What are some of the common mistakes beginners should avoid when trading the forex market?

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  1. Brumi Kom
    Brumi Kom Newcomer
    Added an answer on August 7, 2025 at 5:29 pm

    New forex traders often lose money because they jump in without a plan, overtrade, or let emotions take over. These rookie mistakes can wipe out accounts fast—especially in volatile markets like EUR/USD or GBP/JPY. Let me share what I’ve seen beginners in Nigeria do wrong on platforms like OctaFX, DRead more

    New forex traders often lose money because they jump in without a plan, overtrade, or let emotions take over. These rookie mistakes can wipe out accounts fast—especially in volatile markets like EUR/USD or GBP/JPY.

    Let me share what I’ve seen beginners in Nigeria do wrong on platforms like OctaFX, Deriv, or Exness:

    1. Trading without a strategy
    Many newbies just open trades based on gut feeling or a random YouTube signal. If you don’t have a tested plan (e.g. price action, support/resistance, or RSI setups), you’re gambling, not trading.

    2. Overleveraging the account
    Platforms offer 1:1000 leverage, but that doesn’t mean you should use it. One wrong move and your ₦50,000 account is gone. Keep leverage at a reasonable level like 1:100 or less until you’re skilled.

    3. Ignoring risk management
    Risking half your account on one trade is suicide. Smart traders risk 1–2% per trade. Use stop-loss. Always.

    4. Chasing trades / revenge trading
    After losing a trade, don’t try to “win it back” immediately. This emotional trap turns small losses into disasters.

    5. Not using a demo account
    Many skip demo trading and head straight into real accounts. That’s how you lose real money while still learning. Demo first for at least 3 months.

    6. Trading news blindly
    Yes, economic news moves the market fast—but it’s not for beginners. Many get blown out by NFP (Non-Farm Payroll) or CPI data spikes they didn’t understand.

    7. Overtrading / Trading every hour
    You don’t need to trade every day to be profitable. Pick quality setups, not quantity. Patience makes you money.

    Reality check:
    Forex is not a daily ATM. If you think it’s a quick money scheme, you’ll fund the brokers instead of withdrawing profits. Learn, practice, then scale up slowly.

    Challenge yourself:
    Can you go one whole week on demo trading with consistent rules and no revenge trades? If not, you’re not ready to go live.

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Slaky12
Slaky12Knowledge Seeker
Asked: May 20, 2024In: Crypto & Forex

Can we trade without having fund on wallet?

Actually some platforms offer margin trading, where you can borrow funds to trade, but this involves risks and often requires collateral. It’s important to understand the terms and risks involved before engaging in margin trading.

Actually some platforms offer margin trading, where you can borrow funds to trade, but this involves risks and often requires collateral. It’s important to understand the terms and risks involved before engaging in margin trading.

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  1. spencer
    spencer Enlightened Mentor
    Added an answer on May 26, 2024 at 6:19 pm

    No, you can't trade without having funds on your wallet, it's not like the Forex market where you can open a demo account and can trade large position sizes without having to worry about anything, in Crypto you have to take risks by investing your own money. The only plus here is that you can learnRead more

    No, you can’t trade without having funds on your wallet, it’s not like the Forex market where you can open a demo account and can trade large position sizes without having to worry about anything, in Crypto you have to take risks by investing your own money.

    The only plus here is that you can learn faster because you are using your own funds and you’ll be motivated to put in more effort to avoid losing more of your money.

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deucher
deucherActive Contributor
Asked: April 26, 2024In: Money & Business

What is most important for predicting the price movement?

I know that in trading, not only knowledge about the price is important, but also emotions, but emotions do not play a role in predicting price movements. Of course, everything depends on the strategy you choose, but what is most ...Read more

I know that in trading, not only knowledge about the price is important, but also emotions, but emotions do not play a role in predicting price movements. Of course, everything depends on the strategy you choose, but what is most important for forecasting? maybe the direction of the trend?

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  1. Avarose
    Avarose Enlightened Mentor
    Added an answer on November 19, 2025 at 4:37 am

    In my view, the most important factor for predicting price movement is understanding the trend and the market context around it. Identifying whether the market is in an uptrend, downtrend, or consolidation phase gives a clearer picture of potential direction. Alongside this, analyzing volume, key suRead more

    In my view, the most important factor for predicting price movement is understanding the trend and the market context around it. Identifying whether the market is in an uptrend, downtrend, or consolidation phase gives a clearer picture of potential direction. Alongside this, analyzing volume, key support and resistance levels, and broader market sentiment can help validate the trend. While strategies vary, having a disciplined approach to reading these signals is usually more reliable than trying to guess short-term fluctuations.

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