If you have Telegram, then you should try out the chatbot I created for the Nigerian stocks and macro-economic data: t.me/NigeriaMarketDataBot
You can ask it for the stock price of any listed company or bond. You can ask what the parallel exchange rate is. You can ask it what the current level of Nigeria’s FX reserve is (clue, it is at a very worrying level, start insulating yourself against a likely devaluation). You can ask it what the financial statements of Zenith bank (or another listed company) are. And you’ll get answers right in your Telegram.
Awesome, isn’t it?
You can also access it on Facebook Messenger: https://www.messenger.com/t/nigeriamarketdata
wait for it
wait for it
*more drum rolls*
I have figured out a way to do very well in the Nigerian stocks market. And if you consider my pedigree – 14 years in the market with the last 5 years being one of intense active investing/trading on the NSE, and that I have been building solutions + analysis around the stock market — then you too can feel as optimistic about what I am about to announce just as much as I felt when I came about the discovery.
Here’s the background story.
In 2006, I bought my first shares. In less than a year it grew x10.
In 2009, I spent a huge chunk of my savings in Fin Bank IPO. I didn’t get shares certificate and all my efforts to trace were futile. I swore off IPOs in Nigeria. It was like sending a parcel via NIPOST. If anything goes wrong, you are on your own, the system was messed up will little accountability and you’ll just be bounced around. (Anyway, I heard its positively different now).
In 2011, I started playing the secondary market.
In 2012, I started stockpiling and analysing financial statements of companies listed on the NSE.
In 2013, I created the most accessible online repository of those financial statements for downloading by anyone online. For free.
In 2014, I started putting approximately all my savings in the stock market.
From 2015 – 2019, I was high, I was low and I was mostly confused. All the book knowledge, analytical work and patience were not paying off as I expected. And no one could explain in an eye-opening way what to do differently. Believe me, I did ask a lot of questions from people I thought should know. Most sounded like they’ve given up on the Nigerian stock market. One even is the head of a top investment management firm. Oh, I asked the guys at NSE too.
2020 Today: I think I have found the strategy I have been lacking.
You can access my discovery at http://vip.urbizedge.com/economy
I found out that using the MACD of 50 SMA ~ 250 SMA, I would be able to get longterm buy and sell signals. I wouldn’t be day trading or doing swing trading or any of the short term tradings I am not interested in (as I prefer long term investing and want to avoid the crazy high transaction charges in our market). Backtesting this MACD based strategy has been a reconfirming outcome. So much that I feel bad for not coming upon this earlier.
Now if all I have said sounds like Greek to you. A simpler equivalent is that I have found a way to know when the stock market (or specific company) is going down seriously and when it’s going up seriously.
When you visit the automated Power BI dashboard I use to track these, http://vip.urbizedge.com/economy, the last two pages are the critical ones. And you too can freely use this.