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Your first Q&A for 2019 - Trading resolutions, slow start to the year and a FREE place to analyse charts

by , 24 January 2019
Your first Q&A for 2019 - Trading resolutions, slow start to the year and a FREE place to analyse charts
Q. “Hi Timon I want to set a few trading resolutions for 2019, can you please tell me five achievable ideas so I know what to do?”

A. I always have five trading resolutions which help me kick off the year. Here they are.
Resolution #1: Only take trades when your trading strategy gives you signals
Most people try to trade on intuition and base their trading signals on gut feeling, this is most of the time, if not all the time, a losing strategy.
Find a profitable trading strategy and make sure you stick to your signals with every trade that lines up this year…
Resolution #2: Deposit a portion of your savings every month to boost your portfolio
Every month make sure you set a date to deposit a portion of your savings into your portfolio. It can be R500 or even R1,000. This way, you can accelerate your trading portfolio.
Resolution #3: Set aside 15 minutes a day to trade
Cut down on your TV watching or social media browsing and dedicate just 15 minutes a day to your trading.
Resolution #4: Do NOT allow distractions to interfere with your trading
Tell your family or friends that for 15 minutes a day, you cannot have any one distracting you when you trade. These boundaries will help you trade with a clear and undisturbed mind.
You can even stick a note on your door saying: “Do not disturb for the next 15 minutes”.
Resolution #5: Write your trading goals for the year
Jot down the trades you’re expecting to take, how many will be winners, how many you expect to be losers and what percentage return you’d like to earn.
See this as your vision board, which will guide you on the path to your expected trading performance.
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Q. “Why is the JSE moving so slowly this year. Are we waiting for anything in particular before we see some movement?”
A. As the year has just begun, investors and employees will mostly be back from the holidays near the end of January.
I find that the stock market can be very quiet throughout the first month as investors are not only away but they are indecisive as to what they expect the market to do.
Give it one month, and then we should start to see momentum and volatility pick up once again.
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Q. “I hear that 2019 is the year that we can expect precious metals to rise where we can profit. I tried to search for the precious metal charts but I’m unable to. When I type Gold, Silver and Platinum, I just see news stories. Do you know what I can do to find these charts easily in the future?”
A. Yes absolutely.
You’ll simply type in the precious metal codes for each one to analyse their stocks and the currency you wish to see the price.
As you know we use the US Dollar denominated currency for each precious metal. This means, we always look at gold, silver or platinum in US dollars per ounce.  
When you search for each precious metal, you’ll type the USD at the end for each metal.
The first three letters denote the name of the precious metals.
For gold the first three letters are – XAU
For platinum we use – XPT
For silver we use – XAG
For Palladium we use – XPD
DID YOU KNOW? AU, PT, AG and PD are use for the same metals in the periodic table.
Now you’ll simply connect the letters together, so you can search for the precious metal charts to analyse.
To make your life easy, the best website I’ve found to analyse these precious metal charts is the following: https://www.tradingview.com/symbols/XAUUSD/
All you do is change the letters above to view them.
“Wisdom yields Wealth”
Timon Rossolimos,

Your first Q&A for 2019 - Trading resolutions, slow start to the year and a FREE place to analyse charts
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