DD
MM
YYYY

PAGES

DD
MM
YYYY

spot_img

PAGES

Home Blog Page 5736

Trading in 2021: Becoming a CFD Trader

0

Becoming a CFD trader requires some theoretical knowledge and plenty of practice. There are many platforms out there that allow you to trade using this method with ease. To understand what CFD trading is and how you can become a trader in 2021, continue reading this article.

What is CFD trading and how it works

During online CFD or contract for difference trading, the opening and closing asset price difference is paid out to the seller or buyer, but they don’t acquire or own the corresponding asset. Because CFD is intended for making a profit based on the price difference instead of directly buying a certain asset, you can earn more by investing less. When you engage in CFD trading, you have to make predictions whether a price of a certain asset will increase or fall in the near future. Based on the nature of an asset, it can be associated with high or low volatility.

What are the advantages of CFDs?

Similar to other trading options, this type involves a certain level of risk in addition to a chance to make a significant profit. Some of the advantages associated with CFDs include such:

  • You can trade in both directions

In CFD trading, you have an opportunity to go long and short. It means that you can make predictions on both the increase of the price and its fall.

  • It offers a high level of convenience

One of the main reasons why traders choose this method is its convenience. It is possible to trade while staying at home and using your usual devices. You don’t need to purchase specific hardware, be in a certain location to trade, or have space for storage.

  • It requires a smaller starting capital

As opposed to some financial markets, CFD trading doesn’t require huge capital to start. A lot of people are attracted to this trading because of its lower entry threshold.

  • It offers higher leverage

Another attractive quality of CFD is its higher leverage. You can multiple your market exposure when you open a position that is significantly higher than your original invested capital.

What you should do to start trading

The steps required to begin trading include the following:

  • Choosing the right CFD market

At the moment, there are many asset classes for you to select from. The choice should depend on your understanding of this category, previous experience, and the situation on the market. The assets include stocks, stock indices, commodities, Forex, and cryptocurrencies. 

  • Going long or going short

When using any platform, you can choose whether you want to sell or buy assets. You can make predictions on whether there will be an increase in prices or if they will fall.

  • Choose the CFD size and set limits

You should choose an appropriate investment size based on how much risk you can tolerate and on the minimum amount associated with a certain asset.

  • Manage your risks by using instruments

It is essential to use tools for risk management when trading, especially as a beginner. There are different options out there, including using a trading bot and specific stop-loss tools that are activated at certain times during trading.

  • Always monitor your trades

Trading happens in real-time, and you can see the changes on the market as they take place. You can close your positions whenever necessary or you can add new ones. You can do this even before your stop-loss instrument is activated.

Online Trading Becomes Easier

These days, CFD trading is extremely easy to access, thanks to the abundance of trading platforms. At the same time, it is a process that requires careful consideration and preparation. It is important to learn about the risk management tools, strategies, and instruments. If you are a beginner, it is better to start with less volatile markets and maybe even practice using demo accounts.

What do you think about CFD trading? Have you ever tried this method? Share this article with others and tell us your thoughts in the comments below!

Chippercash Joins Other African Fintech Startups, Becomes A Unicorn

0

Just over two months after Flutterwave became a unicorn, another African fintech startup has joined the ranks, making them five African startups to attain the unicorn status.

Chippercash, a three-year-old startup that facilitates cross-border payment across Africa, closed a $100 million Series C round to expand its products and services, which reportedly put its valuation at $1.2 billion.

The Series C round was led by SVB Capital, the investment arm of U.S. high-tech commercial bank Silicon Valley Bank. Existing investors; Deciens Capital, Ribbit Capital, Bezos Expeditions, One Way Ventures, 500 Startups, Tribe Capital, and Brue2 Ventures, participated in the round.

“Obviously, we’re not getting into our valuation, but we’re probably the most valuable private startup in Africa today after this round. So that’s a reflection of the environment that regulators like CBN have created to allowed innovation and growth, ” cofounder and CEO Ham Serunjogi said when asked about the company’s valuation.

Chippercash has recorded a swift growth to unicorn for a company founded in 2018. With its other major series happening in 2019 and 2020. In November 2020, the African cross-border fintech startup raised $30 million Series B led by Ribbit Capital and Jeff Bezos fund Bezos Expeditions. This was after closing a $13.8 million Series A round from Deciens Capital and other investors in June 2020. Hence, Chipper Cash has gone through three rounds totaling $143.8 million in a year. However, when the $8.4 million raised in two seed rounds back in 2019 is included, this number increases to $152.2 million.

Chippercash expanded the scope of its financial services by adopting the blockchain technology, using cryptocurrency to facilitate swifter cross-border payments.

Serunjogi told TechCrunch that besides Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya; the company has expanded to Europe. “We’ve expanded to the U.K., it’s the first market we’ve expanded to outside Africa,” he said.

Chippercash is offering a variety of services according to the peculiarities of countries where it operates, an idea it aimed to fulfill with its Series B fund. “We’ve launched cards products in Nigeria and we’ve also launched our crypto product. We’re also launching our US stocks product in Uganda, Nigeria and a few other countries soon,” Serunjogi said.

Though its crypto services are not available in Nigeria due to the central bank’s ban, which prohibits regulated financial service providers from offering cryptocurrency services, it has stoked the volume of transactions carried out in Chippercash. The number of users on Chipper Cash has increased to 4 million, up 33% from last year. And the company averaged 80,000 transactions daily in November 2020 and processed $100 million in payments value in June 2020. Currently having more than 200 employees, Chippercash plans to increase its workforce by hiring 100 staff throughout the year.

This latest round that places Chippercash on the unicorn table illustrates the resilience of the African fintech market in the face of the COVID-19 pandemic that has sent many sectors of the global economy sprawling.

Interswitch, Fawry, Flutterwave and now Chippercash have come along the $1 billion valuation terrain, though through varying pace.

OPay, the Chinese-backed payment company, is expected to get on board soon. The company is on the verge of raising $400 million that will put its valuation at $1.5 billion.

The Tekedia Mini-MBA Course On The “Igbo Apprenticeship System”

1

This is an update on the new Tekedia Institute’s course – “Stakeholder Capitalism: Umunneoma Economics & Igbo Apprenticeship System”. I also confirm that we have received interests from universities from around the world to syndicate it. Ohaneze Ndi Igbo is providing support on this course. We expect the course to be completed later in the year. But any Tekedia Mini-MBA member, past, present and future, will have access to it. 

The Igbo Apprenticeship System (IAS) component of the course has three core parts:

  • Igbo worldwide view
  • Commerce and development
  • Community and responsibility

After the course, the next phase would be working with those who write secondary school economics textbooks to add “Umunneoma Economics & Igbo Apprenticeship System ”. I have already put a note that WAEC needs to consider adding that in its curriculum, as it promises to become a framework in the modern stakeholder capitalist future. My BBC interview and Harvard Business Review piece were well-received.

We’re making a case that African business frameworks, not just IAS, should be part of our school curriculum.

Please register for the next edition of Tekedia Mini-MBA; classes begin June 7 and early registration benefits end tomorrow. Click here and register.

A New Course: Stakeholder Capitalism: Umunneoma Economics & Igbo Apprenticeship System

God bless the Igbo Nation. God bless Nigeria

1

I join the Igbo Nation and Governor Obiano to remember all men and women who died in the Biafra war. I also raise my voice to call Igbo young men to order; there needs to be an alternative to violence and we need to make sure we are not tools to violence, directly and indirectly. No one wins a war if the war is fought in his land! Listen to the voice of wisdom, and find strength from within.

I am extremely saddened by the current events. We can honour our ancestors in peace and live on the promises of Chukwu Abiama, the God of Abraham. Look unto Osebuluwa (the Sustainer of the Universe), your Chineke (the God who creates) and stop the destruction. It is simple logic: provided properties are destroyed, by you or mercenaries, bad things will continue to happen in our communities. This MUST Stop!

Young men, your government is commerce and business. Expect no sympathy from anyone because sympathy in Nigeria is for losers. But I challenge you to leave this madness and do what you do best: find hope in markets.

God bless the Igbo Nation. God bless Nigeria.

 

How Lori Iro Awakes Back-Present-Forward Thinking Traces in Relationship Mistrust Among Nigerians

0

In February 2021, a popular pastor who have been preaching sermons that stress why people should avoid relationships embedded with lies from partners for more than 6 years got the attention of many Nigerians after a video of him gone viral on social media. For several days, individuals and businesses used his Lori Iro parlance for varied communication and conversation purposes.

Our analyst notes that Lori Iro as a cognitive metaphor redefined metaphorical marketing strategy in Nigeria during the trending days. A number of businesses employed the parlance for advertising and marketing of their products and services, telling established and prospective clients the need to continue patronizing them and discard whatever competitors are telling them.  Our analyst also found that people who have had negative experiences in their marital and pre-marital relationships used the parlance to chide their partners regarding fake promises.

Our analyst further notes that Lori Iro as an example of cognitive metaphor takes people back to the past events or activities that impacted them negatively. The consequences of the events or activities are expected to shape how they would respond in the future. It has enhanced people’s ability to seek calculus-based trust, identification-based trust and knowledge-based trust, which are necessary for developing and repairing fruitful relationships.

Age-Long Civic and Relationship Mistrust

Our analysis of 151 tweets which contain the parlance, 113 [74.8%] was the main tweets initiated by individuals and businesses while 25.2% were retweets. Examination of the contexts where the parlance is used indicates that it was more associated with lifestyle, especially love or marital relationships than politics and business [see Exhibit 1].

Within the lifestyle, analysis also reveals that people significantly made reference to fake promises in preacher-to-follower relationship and member-to-member relationship. “This is not #Lori-Iro and it’s beyond a mere wish of God When? Since the inception of the REVIVAL HOUR at #MASS6, we’ve seen God grant: Foreign/Local Scholarships without application. Healing of Protracted illnesses. Resident Permits,” one of the tweets said. “I cover you with the blood of Jesus [Musician and entertainment industry reference] “Lori Iro,” another tweet said.

The Twitter Community was also replete with the tweets that chided businesses and their products during the trending days. For instance, a tweet pointing out that “Let’s look at this from an unbiased point of view. I create a product and tell you it’s good for you and will save your life but I am not liable for any damage it might cause Lori Iro.”

Popular musicians who used the parlance to create more engagement with their fans were not spared from lashes dished out to the people perceived to be indulging in constant fake promises.  Davido, a prominent pop culture musician, was predominantly attacked, our analysis reveals. “You Were Never Broke!” – Fans Blast Davido for Saying He Was Once BROKE,” a tweet posted by a news medium said.

In political contexts, the parlance gave Nigerians, most importantly social commentators and political analysts and activists opportunity to express their distrust and mistrust in the government-citizen relationship over the years. Majority of the political narrative driven tweets analysed indicate that Nigerians want better governance, accountability and transparency in all institutions. Their positions are not quite different from the view of Alhaji Tanko Yakasai, a founding member of the Arewa Consultative Forum and elder statesman, who says during a forum that “the mistrust among major sub-regional groups remained a threat to the democratic process despite an end to the Civil War more than 50 years ago.”

Exhibit 1: Dominant Contexts of Lori Iro Application

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Analysis clearly indicates that people are ready to repair their relationship as a significant number of the tweets suggest constant tracing to the previous, present and future promises with the possible intent of having tactics for spotting out the likely impacts of fake promises. Our analyst discovered 295 thinking traces, which entail back, present and forward categories from the tweets.

When Lori Iro was used within the political contexts, users were more than 17 times remembering previous promises of politicians, political parties and governments. Less than 1 time remembering previous promises of businesses, sporting women and men, and organisations when it is employed within business and sports respectively. The frequency of remembering the promises is the same for education context while the remembrance is more than 20 times when the parlance is used within lifestyle context.

The consideration of remembering the promises using present thinking trace reveals that people are more than 3 times remembered fake promises in their marital and interpersonal relationship while it was more than 2 times when they used the parlance in politics, sports and education contexts.

Concerning the future dealings, our analysis establishes that people are more likely to be wary of promises from politicians, political office holders and parties because they were more than 10 times ready to remember previous promises made by the stakeholders in political institutions. Despite the significant use of the parlance in the lifestyle context, people are less likely to be wary of fake promises in the future because analysis reveals that they were more than 5 times prepared to remember the previous promises.

Exhibit 2: Thinking Traces [back, present and forward]

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Winning Formulas for Deploying Lori Iro

Two strategies predominantly determined how people employed the parlance in the contexts and thinking traces. Valence and arousal were significantly found in texts. For instance, a tweet usually represents distress and depress when the person who tweeted it remembered how previous fake promises impacted his or her negatively. On the other hand, tweets sometimes make a jest of the previous promises by being relaxed and excited that one of the partners failed to realise the fake promises.

For the arousal strategy, tweets indicate that the users of the analysed handles were aroused and sometimes miserable when they remembered previous promises. At the same time, some were pleased that one of the partners was sluggish to know that fake promises are being pushed to him or her.  Our analysis shows that one unit of deploying valence strategy increases the use of arousal strategy by 1.3%, indicating people’s ability to add pie of previous experiences for the demystification of the parlance towards regulation of their consciousness to fake promises [see Exhibit 3 and Exhibit 4 for the strategies’ reflections across the contexts and thinking traces].

Exhibit 3: Dominant Psychological Orientations in the Contexts

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021

Exhibit 4: Dominant Psychological Orientations through Thinking Traces

Source: Nigerian Twitter Community, 2021; Infoprations Analysis, 2021