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Southafrica

South African Rand in no mans land but can strengthen soonIt's been an interesting development with the USDZAR. Since it broke out of April's uptrend, the price is now retesting the resistance (which was support). I suspect that the price will be oscillating between the range of 17.63 and 16.91 in a box formation for a few weeks. Only if the price breaks above or below, will we get some sign of where the rand is going. For instance, if it breaks below, it would have formed an Inverse Cup and Handle showing major downside for the USD to come (which we can hope for). If the price breaks out, the fakeout will spook the bears and the price will run up to ATH... I'm bearish overall, but only time will tell.
by Timonrosso
1
When you should feel THRILL as a traderThrill is a dangerous emotion to have as a trader. Especially, when you bank a winning trade, when you lock in profits during a favourable environment and when you count your profits at the end of the week. You are only as good as your last trade. Which means, you need to forget about the past and focus on the future. However, this doesn't mean you can't enjoy the journey during the trading day. I've been in the markets since 2003 and yes I do get thrill and enjoyment but NOT when I bank a winning trade. Here are 6 elements I get thrill from... 1. When analysing the markets and seeing what opportunities lie up. 2. When optimising strategies and seeing how to improve by finding new markets, removing old markets that don't work and possibly tweaking the system according to the current market environment. 3. Searching for trades always feels like somewhat a treasure hunt. When X marks the spot, we know to take action. 4. Monitoring results. This isn't monitoring daily or weekly results but rather looking at your journal over an extended period of time. Look at your drawdowns, look at where you are in terms of having your portfolio at ATH and seeing what market environment your system is in. 5 Adapting new markets and instruments...There are always new high liquid and low volatile markets that will suit your system. It's our jobs to look, analyse and adapt into the new. 6. Reading new developments. Are there better trading platforms, new indicators to help with your current system and maybe even new calculations to manage your drawdowns better? What about the instruments. I've gone from trading shares, warrants, ETFs, Futures, Spread Trading to CFDs. You never know when the next instrument will come... I hope this helps give some enlightenment on when you should feel thrill as a trader. Cut the ego, cut the instant gratification of today's performance and focus on the marathon. Follow for more daily trading lessons :) Trade well, live free... Timon
JSE:J200Education
by Timonrosso
REVEALED: 14 Ways to Spot a Trading ScamIf you’re new to trading, listen up. There are serpent companies and individuals out there, with only one goal. To make profits and money for themselves and NO one else. They do this by exploiting the newbie trader’s optimism, greed and fear by tricking them into what I call “Easy-Money-Traps”. As a savvy trader, you need to know how to spot and avoid these scams, before you fall victim to one of them. I’m going to kick you off with 15 of the most common trading scams you may find nowadays. SCAM #1: Flaunting money and posing in flashy cars WARNING: When you see an advert with a fake ‘guru’ posing in a Lamborghini holding stacks of cash, this manipulates people into thinking they’re rich. REALITY: Most times the cash notes are fake and worthless, which is prop money that is usually used in movies. It’s also been proven that 90% of these companies or individuals usually rent the car, borrow it from their rich friend or they take selfies in front of a stranger’s car. WHAT TO DO: Don’t believe everything you see online. Scam #2: They chase after your contact number WARNING: When a fake “guru” begs for your contact number and persuades you to buy a trading course or ticket to their seminar. The more aggressive they are trying to get your money, means that their primary income is mostly likely from what they’re trying to sell rather than the money they make when trading. REALITY: A true trader with a product or service to offer, will not pester you, sound desperate and bully you with tons of marketing and promises. Their main goals are to offer you value, help and develop a relationship over time. WHAT TO DO: Never share your contact number just to “Learn More”, “Book A Free Consultation” or “Check Out” information on what the product is about. You will have marketers call you on a weekly basis trying to suck you into buying their products. Scam #3: There is NO background information WARNING: When a scam artist has little to no background or legal information. Whether it’s a trader, broker, money manager or an educator – Never work with anyone who doesn’t have the following: • A website • A proven track record (at least 5 years) • Valuable content • An “About Us” page (To learn more about them) • Contact information • Customer reviews and testimonials (Ask people!) • A company registration number • Tax registration details• Financial regulation • A website that isn’t secured (When it starts with HTTP and not HTTPS) REALITY: Most times these non-regulated individuals will try their luck to get you to deposit money into their account and then will disappear. WHAT TO DO: Always do a full check-up on the person or company through Google, Facebook, websites and reviews and take notes with the bullet points above to see if the person or company is licensed, legit and regulated by independent organisations. Scam #4: You can’t withdraw your money WARNING: Your broker or money maker, doesn’t allow you or limits your ability to withdraw funds or profits. Whenever there are delays to withdraw your money, chances are you’re dealing with illegitimate trading companies. It should never take more than a few days for your money to be returned… WHAT TO DO: Don’t invest a single cent more into the company, until you have received your funds. Use your rights and speak to a lawyer about your options, in order to find a way to get your money back. NOTE: This does not apply to fixed-term securities such as, hedge funds, bonds, retirement funds with periodic redemption rights and other constraints. Scam #5: Failure to prove their BOGUS trading results WARNING: When you see someone bragging about their winning trades or money they made for the day and how they can help you – but not willing to prove their results. Watch out with Facebook and Instagram posts on traders posting fake trading results on Telegram, MyFxBook, WhatsApp and other groups. REALITY: If they are not willing to prove their results, chances are they have been Photoshopped and are only trading with a demo account. Also you’ll see them posting their gains and winnings only and never their losses. This is a big red-flag for me which screams out – SCAM! WHAT TO DO: Avoid any person who is not willing to share their broker statements or trading results which have been verified by a reputable and licensed firm. Scam #6: When they urge you to buy immediately WARNING: When someone tries one of their high-pressure sales techniques to get you to invest or buy a product or service on the spot. If ever you get one of those sleazy salesperson’s try to intimidate you, make you feel stupid for not making a decision – warnings bells should ring. Many con artists, will pressure you with limited time offers or tell you to buy on the phone or you’ll lose the deal. REALITY: A legit and ethical company will never create such urgency. They will in fact, want you to do your own research, consider your options and take your time to see if their product or service offered will benefit you or not. They will NEVER force you to buy anything on the spot. WHAT TO DO: Do your own research before you make a decision, and make sure you leave those high-pressure salesmen charlatans. Scam #7: You hear bad investment advice or too-good-to-be-true deals WARNING: When you hear bogus advice or too-good-to-be-true statements from an individual or company that is contrary to anything you’ve ever been told. As soon as you hear any of these messages, they are most likely scams: • “You can put your life savings into our brokerage firm.” • “Follow our +80% win rate trading system.” • “Do you want GUARANTEED returns?” • “Take out a loan and invest with us.” • “You’ll bank over 10% a month.” • “We don’t use stop losses.” • “100% accurate signals.” • “Get rich quickly.” • “Easy money.” WHAT TO DO: Don’t run away just yet. Do the full check up on the company and with their track record and then decide for yourself. Most times it’s just the marketing agency, rather than the actual trader, who’s trying to hype up the copy through their copywriting, Click Funnels, Value Ladders etc… Scam #8: They ask for your personal information WARNING: When someone asks you for unnecessary personal information to make a transaction. There are salesperson’s out there that will ask you for a bunch of unnecessary personal information including: • Bank card details • Facebook account details • Phone number • Income per month • Trading account password • Home address REALITY: If you’re looking to invest in a trading product or service or open an account with an institution, then no trusted and legit company will ever ask for the above details. WHAT TO DO: Never give any details to an individual or company that you don’t trust. You can also ask for their Terms & Conditions and Privacy Policy statements, to read each detail of their security and privacy matters. Scam #9: You get a call from a stranger WARNING: You may get an unexpected and unsolicited local or international phone call “cold call”, email, letter or personal visit from a stranger offering you a deal. REALITY: These are most times marketers or customer services trying to sell you something, in order to make a sale. WHAT TO DO: Kindly tell them to remove your number off their data-base and that you will do your own research and will call them back if you are interested in what they have to offer. Scam #9: Watch out for bad wording WARNING: When the company or individual is packed with bad wording. Bad wording includes: • Misspellings • Incorrect dates (Look at the footer of a website where it says ©) • Badly written content • Unprofessional content i.e. emoticons, !!!, ??? and swearing • Typos everywhere • URL website has spelling mistakes e.g. (Foerxtrading.com) WHAT TO DO: This should be your judgement… NOTE: I personally am sceptical whenever I see any of the above, even though I may make a typo or grammar mistake with my own content every now and then. Scam #10: The never-ending Facebook scams WARNING: When you see posts that offer you free signals, tools, get rich quick messages or advertising ploys that direct you to deposit money. You’ll see countless scams on a daily basis in Facebook groups and pages that will direct you away from them by sending messages such as: • “Inbox me” • “Ask how” • “Join our Telegram” • “100% accurate signals” • “Reply add” • “Do you know you can make XXX amount of money” • “Click this link” • “Ask for more info” • “Daily free signals” • “Daily 200 – 500 pips” • “Guaranteed results” • “No scam” WHAT TO DO: Do your thorough research and follow the above #3 step before making your decision. EXTRA TRADING SCAMS TO WATCH OUT FOR: #11: Trading software, robot or EA that guarantees a +70% win rate system. #12: Fake Facebook profile name, picture with dodgy friends. #13: Any product or service that promises “Zero-Risk”. #14: Any notion that promises you riches quickly and tells you to trust them or take their word for it. If you enjoyed this trading lesson of the day let me know in the comments and follow me for more daily tips. Trade well, live free. Timon MATI Trader
JSE:J200Education
by Timonrosso
1 Rule to STOP a portfolio CRASH I guess my number one rule to prevent a portfolio going bust is my 20% Rule… The rule is simple. If my portfolio ever drops below 20%, due to a losing streak, I halt trading… Notice the word halt instead of STOP. When a portfolio is down 20%, this is where you’ll halt your trading but you’ll KEEP following your trading strategy. So, you’ll simply demo trade your system and continue journaling your entries and exits… And only once the equity curve (your portfolio) goes back to all-time highs (on paper of course) then you can resume trading live… Do you have a trading question? Ask in the comments and I'll fully answer it in one of these posts on TradingView... Trade well, live free Timon MATI Trader
JSE:J200Education
by Timonrosso
Birdvest going to R258.13Cup and Handle has formed on the daily with Bidvest. The price has broken out and we are being a bit premature to go long, but the demand pressure is strong. 7>21>200MA Bullish signal Target R258.13 Fundamentally, with the interest rate decision to pump up the market responded mostly positively for a short term view and this is probably because of the buying taking place from the positive fundamentals in America with a slow down rate with inflation, QE and interest rates. We can only hope this bull run continues as we traders deserve it waiting all these months :D CONCERNS: The price has been moving in a solid sideways formation, which makes it a medium probability trade. I'll be only risking around 1.5% of my portfolio for this one.
JSE:BVTLong
by Timonrosso
GBPCHF OLHC (BUYS) YEARLY STRUCTURE (NOVEMBER 2022)GBPCHF OLHC (BUYS) YEARLY STRUCTURE (NOVEMBER 2022) YEARLY STRUCTURE ( MONTHLY TIMEFRAME ) Please support this idea with LIKE if you find it useful.. Three Important keys to look out for. 1. Market Structure (OLHC) 2. Bullish Divergence 3. TDI Cross (Bullish Cross) Yearly Structure for GBPCHF in the DAILY timeframe is OLHC(OPEN LOW HIGH CLOSE) BUY SETUP. Bullish Divergence from 01 Aug 2011 to current market price Price is currently also in a bullish channel and a perfect target after TDI Priceline and bloodline cross will l be the OPEN (1.22993). TDI cross in monthly is confirmed, BUYERS are present in Markets. Attached link is also analysis on GBPCHF for the current month of November with Active trades running. Trade with Caution. Wait for valid entries. Please support this idea with LIKE if you find it useful. P A T I E N C E + D I S C I P L I N E
Long
by PeanutButter
2
JSE ALSI 40 ready to rock to 73,300The JSE ALSI 40 is finally showing strong upside since April 2022... It's broken up and out of a box formation and is showing the first target to 73,300... This is based on following the recent America's rally with the inflation rate coming down finally and dropping below the expectations. GDP is picking up and jobs have added over 261,000 jobs. The leaders of the pack was Naspers, Anglo American, Sasol and Shoprite helping push up the JSE. Bullish Bias...
JSE:J200Long
by Timonrosso
1