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Top Trading questions this week

by , 17 April 2019
Top Trading questions this week
Q. "Where can I find a live streaming international news service where I don't need to keep refreshing the website?"

A. Live streaming international news services have been a big challenge for traders and investors. But when you search through what is available on the internet nowadays, you can find anything…

In fact, I was fortunate to find a reliable website 10 years ago, which I still use today with my trading.
It's called www.marketwatch.com. Basically, you'll type the address in, press enter and right at the top you'll see breaking international news streaming through 24/7.
You don't have to press refresh, you can carry on doing other activities in your day and your news streaming service will automatically update for you.  
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My boy Timon!
When I am stumped with trading, I always Google search your name with the topic I'm looking for. Just the other day I searched Timon Rossolimos Money management and I found what I was looking for from your FSPInvest articles. You have indirectly been my trading mentor.
I hope you'll never stop doing what you're doing. Please let me know when you do another trading seminar in Cape Town. Jabu K
Q. "Hi Timon, I've just joined Red Hot Storm Trader and I have two quick questions before I get started. 
1. I don't have any time in the day to take a trade, as I'm in the office talking to clients throughout the day. Would I be able to take the trade as soon as I get home after hours? 
2. With the brokers you have to recommend, is there a way to get training on the trading platform?”
A. Here are my answers in order:
1. As long as the trade is opened, where I haven't sent a message saying "you should be out of your trade now", then yes you can most definitely place your trade order, when you get home, for the next trading day.  
Sometimes you'll get in at an even better price if the market has moved a bit out of our favour. Other times you might have missed the entry price, where the market heads straight to our take profit level.  
Ideally, you should find just five minutes a week, maybe during a bathroom break, to quickly phone your broker to get you into the trade. This will ensure you get the best results from the service.
2. With our and recommended brokers, they have a friendly and helpful team who'll take you through the process of learning how their trading platform works. 
Or you could just ask for any written or video manuals on how to use their trading platforms.  
READ: Did you know you can pocket an extra R2,000 tax free a month from the one investment most financial advisors ignore. Click here to pocket an extra R2,000 tax FREE!
Q. "Dear Timon, I would like to know what is the minimum amount required to start trading with Red Hot Storm Trader?"
A. Nowadays with trading you can start with around R500…
However with Red Hot Storm Trader, this is far too little for it to be profitable for your financial future.
I’d suggest you start with a minimum amount of R5,000. This way you'll be able to curb the trading costs, you’ll have enough funds to take on more than one trade at a time and make money that is worth your time.
With Red Hot Storm Trader you can start with around R500. 
If you don't have R500 at your disposal, then you can first test out the service using a demo account with your trading platform.  In fact, your broker will give you a paper account with play-play money, to see how trading works with real time and with real markets. 
“Wisdom yields Wealth”
Timon Rossolimos,
Analyst, Red Hot Storm Trader
PS: 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. 

Top Trading questions this week
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