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Stock Market: See How To Avoid Intraday Trading Losses

By
Kayode Shopekan
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Many people are interested in stock market trading but do not have the requisite skills and information.

Such people may find themselves among the 80-85% of day traders who end up losing money in the stock market.

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You see, normally, 70% of the intraday traders do not last beyond the first year and 90% do not last beyond the third year.

Stock Market: See How To Avoid Intraday Trading Losses
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Intraday trading, popularly referred to as Day Trading, involves the purchase and sale of stocks within the same trading day.

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For example, if the stock opens trade at ₦‎1000 in the morning. Soon it climbs to ₦‎1050 within an hour or two.

If you had bought 1000 shares in the morning and sold at ₦‎1050 then you earn a profit of ₦‎50,000.

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Have You Read: Naira Stronger By 0.58% At NAFEM

Still, intraday traders are frequently losing money in the stock market. What is the reason for this and why do intraday traders lose money so consistently?

At least seven primary reasons for intraday trading losses shall be discussed in this article.

7 Reasons Intraday Traders Lose Money

Lack Of Trading Discipline

Trading discipline has to focus on three things. First, there must be a trading book to guide your daily trading.

Secondly, you must always trade with a stop loss only. Thirdly, you need to keep booking profits at regular intervals.

When any of these aspects of disciplined trading are compromised, it leads to losses in intraday trading.

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Trading discipline is critical because as an intraday trader, your primary focus must be to protect your capital and limit your losses.

Too Much Panic In The Market

One of the basic reasons traders lose money in intraday trading is due to panic. In the stock market when you panic, you subsidise the other trader who does not panic.

On October 19, 1987, the stock market witnessed a major case of panic buying that crashed the market.

It was a massive panic in New York spreading throughout Sydney Stock Exchange in Australia.

Trading Against The Market

For a long-term investor, taking a view against the market may be productive in the long run.

But if you are a trader, then you must ensure that you always stay on the side of the market. The right side for traders is the side of momentum.

Always trade on the side of momentum and never try to outsmart the market. That is a recipe for losses in intraday trading.

No Capital Limits On Trading

This is an essential part of your trading discipline, especially when you are trading intraday. You need to put limits on your maximum loss at various levels.

A stop loss must accompany each trade. You must set limits for losses for every trading day.

If the losses happen in the first hour, have the discipline to shut your trading terminal for the rest of the day.

Have an overall capital loss limit where you will get back to the drawing board and revisit your entire trading strategy. This is your insurance against trading losses.

Trying For Rapid Loss Recovery

This is a common problem among a lot of intraday traders. When they incur a loss, they either try to average their position or try to overtrade aggressively to recover that loss.

This will only lead to more losses. When you incur a loss, it means the trade was wrong. When you average or overtrade, you are just being wrong twice.

Losses are part of your trading process and that is why limits are set and adhered to judiciously.

Relying On Trading Tips

A big challenge for intraday traders is how to trade and what stocks to trade. While brokers do provide trading ideas to clients, quite often traders also rely on external sources for tips on trading.

That is best avoided. The best way to trade intraday is to master how to read charts gradually interpret news flows and trade on your own.

It is a slow process but there is no alternative to learning methodically and trading on your own.

You May Also Like: Official Market: How Naira Gained ₦‎18 Against Dollar

Poor Feedback Loop

One of the key steps in intraday trading is to ensure that the feedback loop and the learning process are complete.

Ideally, the intraday trader must maintain a trading diary that documents the trades, the justification for the trades and the review of trades each evening.

This will work as a basic manual for the intraday trader’s continuous learning process.

Most intraday traders lose money because they do not get the small things right. Take care of the micros and the macros will take care of their own.

 

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Tunde Onakoya: How Chess Hero Returned To Lagos

By
Omolara Oyabunmi
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If you were at the Muritala Muhammed Airport (MM2) in Lagos on Wednesday, you will surely wonder what was happening. In fact, the situation succinctly captures the sentiment articulated by chess grandmaster, Salo Flohr: “Chess, much like love, knows no age boundaries”.

Tunde Onakoya: See Nigerians Who Are Guinness World Records Winners
Tunde Onakoya

It was the home-coming of Tunde Onakoya after his record-setting chess marathon in Times Square.

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Onakoya played non-stop chess for 58 hours, surpassing the previous Guinness World Record of 56 hours and 9 minutes, set by FM Sjur Ferkingstad and Hallvard Haug Flatebø in Haugesund, Norway, in 2018.

Taken For Medical Attention

His record-breaking marathon concluded on Saturday morning with a checkmate against NM Shawn Martinez.

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Sadly, upon his arrival at the airport, Onakoya wasn’t feeling too well. He was quickly taken away for medical attention.

The marathon, though exhilarating, can be exhausting, highlighting the physical toll of such a long and intense event.

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Tunde Onakoya And Chess In Slums

Beyond his impressive chess skills, Tunde Onakoya is known for his role as a coach and advocate for social change through his “Chess in Slums” initiative.

This $1 million project aims to transform the lives of underprivileged children in Lagos, Nigeria, through chess.

Onakoya’s vision involves providing chess training and mentorship to children in slums and other under-resourced areas.

Also, he plans to equip them with new skills, guidance, and opportunities for a brighter future.

Have You Read: Will Tunde Onakoya’s Feat Land Him An Ambassador Title?

Onakoya’s initiative has gained international recognition for its success stories.

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Indeed, they showcase how chess and similar intellectual activities can create a positive social impact.

While the official recognition from Guinness World Records is pending, his achievement has already garnered significant attention and appreciation.

Despite his physical exhaustion, his commitment to promoting chess and empowering underprivileged youth continues to inspire many.

Guinness World Records: Things You Didn’t Know About Tunde Onakoya

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Will Tunde Onakoya’s Feat Land Him An Ambassador Title?

By
Semilore  Fatai
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Tunde Onakoya’s name has echoed across the globe as he shattered the Guinness World Record for the longest continuous chess game.

He beat the previous record set by Norwegians Hallvard Haug Flatebo and Sjur Ferkingstad.

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Tunde Onakoya: See Nigerians Who Are Guinness World Records Winners
Tunde Onakoya

Tunde’s amazing endurance not only earned him a place in history but also aimed to raise $1 million for children’s education in Africa.

Amidst the celebrations, there’s talk of recognition from the Lagos State Government. They might give him an ambassador title related to sports, education, or youth.

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It’s worth noting that Pelumi Nubi recently got a tourism ambassador title for driving solo from London to Lagos.

Now that Tunde Onakoya has returned to Lagos, we eagerly await to see how the next chapter of his story unfolds.

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Will the government formally recognize his outstanding accomplishment and honour him with an ambassadorial title, further cementing his status as a symbol of excellence and inspiration?

Here’s another great read for you: Pelumi Nubi: Essential Road Tips For Cross-Country Travel

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Megan Thee Stallion Sued For Workplace Harassment

By
Semilore  Fatai
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Megan Thee Stallion faces a lawsuit from her former cameraman who alleges harassment and the creation of a hostile work environment.

Megan Thee Stallion Hiss

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Emilio Garcia  claims that the harassment he endured was so severe or pervasive that it led to a hostile work environment, rendering his working conditions intolerable.

He is seeking punitive damages, attorney’s costs, unpaid wages with interest, unpaid overtime wages, and other employee benefits at the legal rate.

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The lawsuit, includes an allegation that he witnessed the Houston Hottie engaging in sexual activity with another woman in a moving car during their travels in Ibiza.

“I felt uncomfortable. I was kind of frozen, and I was shocked. At kind of just the overall audacity to do this right, right beside me,” he recounted.

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The photographer, employed by Meg from 2019 to 2023, further claims he faced threats, fat-shaming, and verbal abuse and berated by her into silence.

He alleges that he was terminated by the rapper’s management company Roc Nation,the night before an assignment, while considering quitting his position.

“Megan just needs to pay our client what he’s due, own up to her behavior and quit this sort of sexual harassment and fat shaming conduct,” stated Garcia’s attorney Ron Zambrano.

Neither Roc Nation nor Megan Thee Stallion have responded to the lawsuit.

People also read: Diddy’s Homes In Los Angeles & Miami Searched By Federal Agents

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Appeal Court Delays Decision As Baba Ijesha Fights Conviction

By
Semilore  Fatai
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The Court of Appeal in Lagos is considering the case of Nollywood actor, Olanrewaju James, also known as Baba Ijesha, who is challenging his conviction for sexually assaulting a minor.

Appeal Court Delays Decision As Baba Ijesha Fights Conviction

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Baba Ijesha was convicted on July 14, 2022, and sentenced to five years in prison by Justice Oluwatoyin Taiwo (retd.) of the Ikeja Domestic Violence and Sexual Offences Court.

A three-person panel, led by Justice Folasade Ojo, heard Baba Ijesha’s appeal and has reserved judgment. Baba Ijesha’s lawyer, Mr. Kayode Olabiran, argued that the prosecution failed to prove the sexual assault charge against his client.

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Olabiran claimed Baba Ijesha was set up, stating that the incident was part of a script he was asked to act in by his colleague.

Olabiran contended that Baba Ijesha’s confession was made under duress, and he urged the court to overturn the lower court’s judgment.

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However, the Director of Public Prosecutions (DPP), Dr. Babajide Martins, argued that the appeal lacked merit and should be dismissed.

Martins also maintained that the victim was a minor at the time of the offense, citing her age at the time and during her testimony in court.

He urged the court to uphold the lower court’s decision, which found Baba Ijesha guilty of indecent treatment of a child and sexual assault.

People also read: Baba Ijesha Down With Ailment In Prison, Cries Out For Help

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Arsenal Fans Blast Jackson For ‘Absolutely Shocking Challenge’

By
Dairo Paul Oluwanifemi
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Arsenal fans were livid that Chelsea’s Nicolas Jackson escaped a red card for a nasty-looking challenge on Takehiro Tomiyasu.

Arsenal Fans Blast Jackson For 'Absolutely Shocking Challenge'
Arsenal Fans Blast Jackson For ‘Absolutely Shocking Challenge’

Chelsea might have been lucky not to be down a man after Leandro Trossard handed the Gunners a 4–0 lead when Jackson caught Tomiyasu on his ankle.

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To the dismay of Arsenal supporters, who vented their annoyance on social media, the Blues striker also avoided a booking.

However, Mikel Arteta’s men went on to win the match 5-0 in a chastening night for the visitors.

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The Short Fuse tweeted: “That should be a red card for Nicolas Jackson.

“That’s an awful challenge on Takehiro Tomiyasu. What are we doing here?”

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Another wrote: “How is this not a red card for Nicolas Jackson?

“Tomiyasu could have broken his ankle. These refs hate Arsenal”.

Debaroop wrote on X (formerly Twitter): “How is Nicolas Jackson still on that pitch? Inexplicable,” and posted a clown emoji.

And Layth added: “An absolutely shocking challenge by Nicolas Jackson on Takehiro Tomiyasu.

“How is that not a straight red card?

“The Arsenal defender could have had his leg broken. Disgusting”.

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However, former Liverpool player Didi Hamann tweeted: “How does Jackson not get sent off here?

“Pathetic challenge,” while BBC Sport journalist Charlotte Coates put on X: “No idea how Nicolas Jackson is still on the pitch.

“That is a terrible challenge”.

Awful Challenge

Simon Collings, of the Evening Standard, posted: “Nicolas Jackson lucky to avoid any booking there, would have been his 10th of the season and a two-game ban”.

While Ryan Taylor of the Mirror added: “More VAR incompetence.

“Nicolas Jackson should be off there. Awful challenge.

“Simon Hooper should be advised to check the monitor at the very least. Baffling”.

Read more: Erik Ten Hag Prepared To Quit Man Utd

Arsenal’s convincing win gave new life to their Premier League title aspirations.

The Gunners’ season needed to turn around after they lost to Aston Villa and were eliminated by Bayern Munich from the Champions League.

However, Chelsea’s hopes of making it to Europe were dealt a setback, as they now lead the table by three points.

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Carlos Tevez Hospitalised Due To ‘Chest Pain’

By
Dairo Paul Oluwanifemi
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Chest pain could be a symptom of heart disease, but it typically does not cause permanent damage to the heart.

It is, though, a sign that you are at risk for a heart attack in the future.

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The chest pain may spread to your arm, shoulder, jaw, or back.

It may feel like a pressure or squeezing sensation.

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However, former Manchester City and Manchester United star Carlos Tevez has been admitted to hospital after suffering “chest pain”.

Carlos Tevez Hospitalised Due To 'Chest Pain'
Carlos Tevez Hospitalised Due To ‘Chest Pain’

According to top-flight Argentinian side C.A. Independiente, the club the 40-year-old manages, the former striker was hospitalised in Buenos Aires on Tuesday after seeking medical help.

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The club added that the tests at La Trinidad Hospital in San Isidro were “satisfactory” and will provide updates on his condition in due course.

The Argentine club tweeted: “Our coach, Carlos Tevez, entered the La Trinidad Sanatorium in San Isidro with chest pain.

“They carried out the corresponding studies and they were satisfactory.

“Tomorrow you will continue with a series of exams scheduled in advance as part of a general check-up that is usually carried out”.

They later added: “Carlos Tevez will be hospitalized as a precaution until the corresponding studies are completed.”

Career Life

Tevez had a brilliant career, playing for Argentina’s national team as well as City, United, Juventus, and Boca Juniors.

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He left the game in 2021 and went on to manage Rosario Central and, more recently, Independiente in his home Argentina.

However, millions of people will be hoping for the ex-forward to fully recover after earning a reputation as one of the best in the modern era of sports.

Read more: Roma Confirms De Rossi To Remain As Manager 

As per the rumours, Tevez will be subjected to additional testing at a hospital in Buenos Aires known as Finochietto Hospital.

Also, on May 12, Independiente is scheduled to return to domestic competition against Talleres Cordoba.

AMVCA 2024: Who Do You Think Would Win The Best Lead Actor Award?

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#JusticeForNamtira: Parents Not To Blame For Child Bullies?

By
Semilore  Fatai
-

Bullying is an important issue worldwide, affecting many people, and tragically, some have even lost their lives as a result.

When someone is bullied, it can have severe consequences, sometimes leading to tragedy.

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#justiceforNamtira
#justiceforNamtira

Blaming Parents

People often blame parents when a child bullies others, suggesting it’s the parents’ fault for not teaching their child right from wrong.

This idea stems from the saying “charity begins at home,” which means that what children learn at home shapes who they become.

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Kids often learn by watching their parents and copying their behaviour.

Other Factors

However, bullying isn’t solely influenced by what happens at home. Other factors, such as friends, school, and media exposure, also play a crucial role.

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Friends can have a big influence, and children may mimic their friends’ behavior, even if their parents taught them differently.

School Role In Fighting Bullying

Schools also play a crucial role in addressing bullying. Some schools have rules and supportive teachers who intervene when bullying occurs.

Unfortunately, not all schools take bullying seriously, which can exacerbate the problem.

Digital Influence

Media, including movies, games, and social media, can also influence children’s attitudes towards bullying.

If they see violence or meanness portrayed positively, they may think it’s acceptable behavior.

Blaming parents for bullying is too simple. While parents do have an influence, many other factors contribute to a child’s behavior.

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It’s essential to consider the broader societal influences and work together to address bullying effectively.

Now, the question arises: Who is truly to be blamed for a child being a bully?

Also Read: #justiceforNamtira: Hidden Truth No One Is Talking About

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Economist Kicks Against CBN Dollar Sale To BDCs At ₦‎1,021/$

By
Kayode Shopekan
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You see, the continued sale of the dollar by the Central Bank of Nigeria to Bureau De Change (BDCs) is drawing reactions from Nigerians.

But people who take deep look into the nation’s economy are of the opinion that Nigeria needs to improve its manufacturing sector, develop the I.T. industry and grow exportable produce now more than ever before. 

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They have their reasons.

Dollar Sale To BDCs
An image of the United States dollar

Now, the Central Bank of Nigeria (CBN) has revealed plans to sell more US dollars to Bureau De Change (BDC) operators.

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Have You Read: Dollar Down: Real Reason Prices Of Items Are Still High

According to a circular, the CBN will sell dollars to BDCs directly at a ‘discounted’ rate of ₦‎1,021 per dollar.

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This decision does not seem right to some persons.

An economist and public speaker, Ganiyu Adebomehin, has given his opinion on this policy.

He believes it is not sustainable.

Adebomehin said: “Nigeria is not generating enough dollar to sustain this dollar sale to BDCs”.

He is of the opinion that Nigeria needs to diversify its economy.

One way to do it is for the nation with vast arable land to get more involved in agriculture. This will increase production of goods that can be exported to generate dollars.

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“We are too reliant on crude oil and because of pipeline vandalism we are not meeting our production target.

“We need to revive the ailing economy and proceeds of crude oil alone can not do the needed magic.

Sell To Eligible End Users

This is the second time the CBN is selling the greenback to BDCs in the month of April and fourth time in 2024.

The circular reads: “We write to inform you of the sale of $10,000 by the CBN to BDCs at the rate of ₦‎1,021/$1.

“BDCs are in turn to sell to eligible end users at a spread of NOT MORE THAN 1.5% above the purchase price.

“All eligible BDCs are to commence payment of Naira deposit to the approved CBN Naira Deposit Account Numbers from Monday April 22, 2024.

“The respective BDCs should submit confirmation of payment, with other necessary documentations.

“Without carrying out this process disbursement of FX will not be made”.

You May Also Like: Naira Appreciates By 21.8% Against Dollar In March 2024

According to the CBN, this measure will keep the naira afloat, as it fell against the dollar in the past few days.

Earlier in the year, the CBN, said it will sell $20,000 to each BDCs at the rate of ₦‎1,301/$. 

However, the CBN later reduced the allocation to 50% and to sell FX at the rate of ₦‎1,251/$1 to BDCs.

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