My top 4 charting platforms that I recommend and are user-friendly are…
1. Amibroker (Excellent for creating your own indicators and strategies)
2. Metastock (The best to back-test your trading systems)
3. ProTrade (Simple interface which is easy to zoom, add charting lines and indicators)
4. MetaTrader 4 (Excellent to customise the look of the charts according to your personality). 5.
If you can read a sms then you can start collecting R8,589 a month as a trade
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Q. ”I received this SMS - Your MND and ARI CFD trades hit your profit stops at R420 and R128 banking you gains. You should be out now. Kindly advise what type of SMSs I’ll receive with Red Hot Storm Trader and how I should use this information going forward?”
A. To clear any confusion going forward, I’d like to tell you about the only three SMS’s you’ll receive with Red Hot Storm Trader.
SMS #1: Entry – (You take ACTION to buy or sell a market)
This is the SMS where I’ll tell you to buy or sell a certain market. I’ll tell you the market, what to do, how much the minimum will cost and where to place your entry, risk and reward levels.
SMS #2: Modify – (You take ACTION to adjust your entry, stop loss or take profit)
This is the second SMS which will tell you to adjust the:
(In case we missed the boat and will need to change the entry price, it before it runs without us)
(When the market is going our way and so I send an SMS to adjust the stop loss to bank a minimum gain)
(Either the market could fizzle out the trend and we’ll need to drop the take profit before the market turns against us or I could tell you to raise the take profit to increase our winners.
SMS #3: Out of your trade (No action just confirmation for your trade to be closed)
The ‘Out of your trade’ SMS is simply a friendly reminder of whether you should be out of your trade if it hit the take profit or your stop loss.
This is not an ACTION SMS as when the market hits one of the risk or reward levels, it should automatically take you out of your trade.
Q. “I read the other day that there was an Ice-berg order on Naspers, What does this mean and how do I watch out for it?”
A. To understand this term, let’s relate it to a normal ice-berg.
An ice-berg is a large floating mass of ice that’s accumulated in a way that it resembles a small mountain.
It takes a whole lot of ice to form an ice-berg to create its magnitude.
When it comes to trading terms, it’s similar.
An Ice-berg is one large order that is divided into smaller orders.
Normally, a big investor or company will use an automated program, to hide their full order quantity.
The main reason the entity would offload their shares using an ice-berg order is to not frighten the public which may lead to huge selling.
We know that public traders and investors can go into quite a panic when they see a large seller. This panic can cause the bears (sellers) to go into over-drive, which could send the share price crashing.
The ice-berg order is one large order broken up into many smaller orders, to not create that panic. This means they’ll be able to exit their large position without the price of the share dropping too fast.
The best way to watch out for an ice-berg order is to do the following.
Go to Naspers depth (aka - depth of the market) in your trading platform. This is where you can see the open bids (buyers) and offers (sellers) prices throughout a certain amount of time.
If you see a repetitive quantity selling at the same price this might be due to an ice-berg order.
On the bid side, you can see how the quantities and the prices are rather different without any form of pattern. This means, the buyers and sellers are more likely to be different as you go down the depth.
However, on the offer side you can see how the quantities and the prices are very similar.
Each quantity is to off load 100 shares at a time and the price differences are a matter of cents.
This should send warning bells telling you that there is probably a very big seller trying to close a big portion of his position with Naspers.
Stay away until the market’s quantity and prices go back to normal, and then you may resume making your trading decisions once the ice-berg order has completed.
Q. “Which website can I follow to see a list of upcoming dividend dates for JSE shares?”
A. The most reliable free website that updates their Dividend list almost every day is, ShareNet.co.za. Simply go to the website and scroll all the way down until you see where it says Recent Dividends, Projected Dividends and Ex Dividends.
“Wisdom yields Wealth”
Head of trading, FSPInvest.co.za