I need to catch my breath. I'm so amazed at the stupidity I've just read on Twitter.
A new Forex trader bought the Great British pound to the US dollar. And he sent a tweet saying this.
“I just bought the Pound against the dollar and I'm hoping that the Pound goes up now.”
Next, I read a reply from some other trader.
RT: “Don't worry, just think positive thoughts and you'll mak... ››› more
Dear Trading Tips reader,
I was recently in a heated debate about the advantage of doubling up on bets rather than taking them one at a time.
With betting there is ALWAYS an element of risk and uncertainty.
The job of our team is to minimize that risk while maximizing the profit potential for our customers.
And the way we do that is by using parlays to achieve better odds while minimiz... ››› more
Here's a question I got from Tony last week:
“I am new to Trading and having bought your Red Hot Storm Trader Service I am not sure what my loss would be if a trade went sour - I use your example below:
If you buy 10 Sasol shares at R450 per share and at a gearing of 10 times, you'd only have to pay R4,500 (R450 X 10).
So essentially, you're buying 100 CFDs on Sasol.
You'll have an e... ››› more
Dear Trading Tips reader,
I am sure you have heard someone say that you need 10,000 hours of trading experience to master the art.
This is certainly the case for many career options such as becoming a professional golfer, rugby player or even a movie star. But I really don't believe that this is the case for Forex trading. In fact, that really is nonsense as far as I'm concerned!
With the... ››› more
There are literally thousands of technical trading strategies.
They range from complex, signal-generating algorithms to dirt simple “Day Trading Breakout Strategies”.
In fact, a “Day Trading Breakout Strategy” is so simple I can explain it fully in a single sentence:
Here is the strategy in just one sentence!
A “Day Trading Breakout Strategy” tells you to ride daily momen... ››› more
“How much money do I need to start trading for a living?”
You've asked this question before. Maybe when you signed up to MoneyMorning, Trading Tips or when you made your first trade.
How much do you need to start trading for a living? Well, this purely depends on you and the lifestyle you want to live.
Do you want to spoil your spouse and take her to a restaurant once a week of her c... ››› more
Q: "What buy instruction do I give to the broker? This is the first time I'm taking a trade I don't want to confuse the broker or myself" - W
A: I remember the first time I wanted to buy a share on the JSE in 2003, many years ago. The problem was…
I had no clue what to do or what to say to my broker.
Well, if you're a first time trader and you're not sure what to say to your broker, the... ››› more
If you've been reading some of my articles in Trading Tips and MoneyMorning, you'll probably know I'm quite a stubborn trader.
Stubborn with the proven strategy and money management rules I've followed for the last 12 years. Stubborn with listening to the media and opinions of others.
And stubborn with the number of shares I watch on a daily basis.
In fact, I only look at 23 shares to tra... ››› more
One of my ongoing quests in life, is to find the scams that are losing traders and investors all their money.
At least once a week, I Google this exact phrase.
“How to get rich quick with trading?"
You'll be surprised at the number of unregistered companies and individuals there are, trying to swindle people's hard earned money.
But the scam I want to talk to you about today is the B... ››› more
We have lost yet another legend.
Not only was Muhammad Ali a former Olympic gold medallist and first fighter to win the world heavyweight title three times, he was also an inspiring, controversial and outspoken figure for life and for racial pride.
Sure, sometimes he did sound a bit overconfident and cocky. But that's what made him the success he was.
One of my hobbies in life is to fo... ››› more
Imagine how Timon Rossolimos, the head of the Trading Desk here at FSPInvest must feel like after reading these comments from his subscribers...
“I learn more from your service than anything else I subscribe to.” Debra K
“As a complete beginner trader, I really appreciate your clear and concise explanations.” - Stefan R
“I have subscribed to several services about trading and y... ››› more
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