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”I just took my first trade”…Now it's your turn

by , 10 April 2019
”I just took my first trade”…Now it's your turn
Q. "Hi Timon, thank you for showing me what to do when I get an SMS from you. I took my first trade on Thursday and I must say, it's much easier than I thought. My question to you is, when my take profit level hits, how do I make sure I'm out of my trade?"

 
A. When either your stop loss or your take profit level hits, there are two ways to ensure you are out of your trade.  
 
First, you can phone your broker, give him your trading details and ask this.  
   
"I'd like to know if my trading position on XXX market is closed out completely?" 
 
Note: To cut out the confusion, use the words "closed out a position" instead of bought or sold.  This will instruct the broker to check if you are out of a trading position.  
 
Second, go to your trading platform and look at your open positions. If there is a row with your trade information, it means you are not out of your position. 
 
Ask your broker where to find this on the trading platform.
 
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What a loyal Trading Tips member has to say
 
"Hi Timon, it's rare to find a legit trader who is an open book and is completely transparent with what he produces in every way.
  
I'm normally a shy guy to send these kinds of messages but I feel really comfortable being a part of the FSP Invest family. Keep up the excellent work because I don't think I would have a clue what to do without you.”
 
Q. "When I'm looking to open a trading position and I need to give my broker my name and username, is my username my email address?"
 
A. This entirely depends on the broker you're with. Some brokers ask for your Trading code, ID numbers, Email address, chosen user name or even your phone number. 
 
You'll just need to ask them what information they need, so in the future you know exactly what to do the next time you want to buy or sell a trade. 
 
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Q. “Hi Timon, I heard about your seven winning trades in the last quarter, and I really, really want to join. I have to ask, as it could really help with my financial future. Is there no other way I can pay the fee to join Red Hot Storm Trader other than with a credit card?”
 
A. If you don't have a credit card, there are three other ways you can join Red Hot Storm Trader.
 
1. You can make a payment at the bank. 
2. You can make a payment via an ATM
3. You can make an EFT payment. 
 
If you decide to join Red Hot Storm Trader through one of the three above options, you'll need to pay for the annual service. 
 
Fortunately, you'll still have your 90 day money back guarantee, to test the service out. 
 
“Wisdom yields Wealth”
Timon Rossolimos,
Analyst, Red Hot Storm Trader
 
P.S: If you have a burning l trading or an investing question or you'd like to share your feedback about us, feel free to email me at timon@fsp.co.za and you'll stand a chance to be featured in one of the Trading Tips articles.
 


”I just took my first trade”…Now it's your turn
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