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    Thursday, 26 November 2020

    Can a Beginner Really Make Money Trading?

    Sifiso Nkwanyana
    Trading, whether stocks, forex, commodities, indices, or crypto, is a fantastic way to make anything from a little extra pocket money to a substantial income. Despite reading success stories and seeing how well people do with online trading from the comfort of their own homes, many people are scared to get started. Beginners often look at the risks and decide not to bother, not believing that they can make money and worried about what they could lose. 

    However, a beginner can make money, and even good money, trading. If it weren’t possible, most people would give up, and there’d be far fewer success stories. Here are some tips to help beginner traders make money and to minimize the risks.


    Find a Trading Platform

    If you think of trading and imagine a physical stock market where hundreds of men wave bits of paper about and shout at screens, chances are you are a little behind the times. While the stock market still exists in the form that you may have seen in the movies, things have moved on a little. 
    Using a trading platform like MT4 means that you’ve got all of the tools and information you need to start trading from home. As you learn, you’ll be able to set up customizable interfaces and alerts. But, in the early days, it’s the one-click trading, interaction with other traders, and fantastic advice that might offer you the most benefits. 

    Take the Right Advice

    If you tell your friends and family that you are going to start trading, they are bound to suddenly all become experts, happy to share their advice and stories. Even those of them that have never traded so much as a football card will suddenly be filled with pearls of wisdom they are keen to impart. 

    Often, the key to success as a beginner is knowing who to listen to and when to listen. It would be a mistake to think that you should go it alone or already know everything, but it would also be a mistake to listen to everyone and try to take all of their ideas on board. Find someone that you trust, and has plenty of experience with the markets that you are interested in, whether you know them in real life, or online, or don’t know them at all. And make the most of their knowledge. 

    Know Your Limits

    It’s all too easy to get carried away with trading, especially when things are going well. But, this can be a mistake. Know what you can afford to invest in trading, and don’t ever go over this limit. Use this information to manage your risks. Know what % you can afford to risk on every trade and within every day, and set firm rules for yourself. 

    Play the Long Game

    Being successful doesn’t mean making a fortune on day one. If this is what you are hoping for, you may need to adjust your expectations. Trading is a long game. You’ll need to research strategies and give each one a chance to work before trying the next. Take your time, learn from your mistakes, and continue to manage your risks. But remember, it will always be a long game, not a get rich quick scheme

    Tuesday, 27 October 2020

    How Experienced Traders Maintain Their Focus On 12-Hour-Plus Days

    Sifiso Nkwanyana
    Trading is all about keeping your eye on the ball. The slightest moves in asset prices or currency can signal massive profit opportunities. 

    Maintaining your focus, though, is a challenge. The human body simply isn’t set up for the kind of lifestyles that traders lead. Focusing on charts and numbers for twelve hours a day or more isn’t something our ancestors ever had to do. In many ways, their lives were much better than ours. 

    So what can you do to maintain your focus for that length of time, aside from drinking cup after cup of coffee?


    Let’s take a look at some strategies open to you. After all, you can’t be a great trader unless your body can also go the distance. 

    Switch Off The Radio

    Sitting in front of a screen for hour after hour can get a little dull, especially on slow days. Sometimes the market isn’t convulsing in response to surging virus cases or presidential tweets. There are days where it is plain sailing. 

    In this situation, it’s tempting to whack on the radio or listen to your favorite CD. But remember, there are still profitable trades you can make, requiring no less focus on your part. 

    Where possible, work in silence. 

    Try Standing Up


    Sitting down in a chair in front of a computer screen all day long is terrible for your health, according to fstoppers.com. Therefore, many trendy traders are trying to hack their biochemistry to allow them to concentrate harder by standing up. Doing so, they believe, gives them the edge by keeping their minds sharp. 

    Wear The Right Glasses

    Straining to read numbers written on a screen is a big no-no, especially if you plan on spending the entire day in front of it. All traders, therefore, should be wearing the correct glasses.

    Thanks to sites like Eyeglasses.com, the process of getting the right specs is much easier today than it ever was in the past. Ordering is simpler. And there’s a broader selection of glasses available. 

    Even if you don’t have an eyesight diagnosis, you can still benefit from wearing glasses. So-called blue light spectacles filter out high-energy parts of the spectrum emitted by your monitor’s backlight - something that can make your eyes feel tired. 

    Talk To Yourself

    In most professions, talking to yourself is seen as a sign that you’ve finally lost it. But in trading, there’s evidence that it can actually help people. 

    Thinking out loud is often better than doing so in the silence of your mind. It enables you to concretize your thoughts and ensure that what you’re doing makes sense. 

    You don’t have to perform like Patrick Stewart doing Shakespeare on stage. Mumbling under your breath will suffice just so long as you’re activating your vocal cords. 

    Review Your Rules

    Every trader has a philosophy. And there’s a good reason for that. Following rules is essential. You need a scheme. 

    Unfortunately, things can happen that make you question your rules. But remember, the whole point of them is to ensure that you don’t do anything rash. So, it can help to review your rules daily. 

    Wednesday, 14 October 2020

    ChfJpy sells from Highs

    Sifiso Nkwanyana

     


    Last week we have noticed a selloff from the Swiss yen pair after it had been selling from its highs, we saw a 400pip move down during the first days of October and currently price is on it way to retrace back down.

    Below is our previous trade setup for the ChfJpy trade setup whereby price is seen moving towards our sell area after finding support at the fib 50.0 zone.

    Previous Trade Setup

    Currently price has respected our selling zone at OTE and we expecting to see a push down as shown on the trade setup below.





    Thursday, 8 October 2020

    UsdChf forms bullish confluence on support

    Sifiso Nkwanyana



    The Dollar Swiss pair is expected to continue its bullish move as price has formed an inverse head and shoulder trading pattern formation which gives us a very good buy setup on the currency pair. 


     

    Tuesday, 6 October 2020

    Forex Weekly Setups, 5th October To 9th October 2020

    Sifiso Nkwanyana
    With President Donald Trump being diagnosed with The Coronavirus the market experienced a big hit last week as we saw a sell in a number of major stocks which negatively affected the dollar index last week.

    Fundamental Analysis

    Unemployment Change (CAD) : We are expecting a Bullish move on the CAD as Unemployment was critically low and the economy is currently opening a number of sectors.

    Technical Setups
    Below are the setups for this Trading week.

    EurUsd
    The Euro Dollar pair has been bullish from last week as price has moved up by close to 200 pips as the dollar responded to trump being diagnosed by the coronavirus. on the setup below the Euro Dollar is currently on it way up towards the Fibonacci OTE sell zone in which we will be looking for sell setups.


    UsdJpy
    We have been holding buys on the dollar yen pair, price has rebounded on the support and shown a lot of respect to the level which led to the pair pushing up, currently we are looking for price to break above 105.800 and having 106.650 at a target.




    SP500


    ChfJpy





    Euro Finds Strength against the dollar

    Sifiso Nkwanyana

    The Euro has experienced a huge sell off against the United States dollar the past weeks in which we anticipated a drop of just over 400 pips, with this drop on the Euro from its highs we are expecting the markets to begin a new trend as markets open on the last quarter of the year.


    Technical Analysis



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