A. Hi Jerry… To answer your first question, I have a one word answer.
You should NEVER have to pay for a trading platform. Not per month, not per year not ever…
Those days are fortunately over… And that’s because of the high competition of incredible brokers you can choose from in 2021…
You see, with the high competition of trading firms out there, they have to compete with each other and ensure they each have free, live streaming, cutting edge, private, secured and easy to use platforms to offer to their clients.
And because I’ve done my fair share of years of researching in looking for the best platforms, here’s my must-have checklist for any trading platform…
Make sure they have:
Item #1: Trading indicators and oscillators
Item #2: Real time charts
Item #3: Time frame options of: 1 hour, 4 hour, daily and weekly
Item #4: Chart types - Line chart and candle sticks
Item #5: Live streaming news for example: Non-farm payrolls, earnings announcements, live speeches and SENS (Stock Exchange News Service).
What three loyal Trading Tips readers have to say:
“I became a subscriber last month and already made R10,000 in profits!”
“I made a 21% return and R3,000 in a few days. Thank you.”
“According to my calculations, I’ve just made 154% over the last two months. Thank you and keep up the good work!”
Prediction from the Group Publisher
The disconnect between indices and ‘small cap stocks’ is a worldwide phenomenon right now.
Giant stocks the world over are struggling.
Shift your focus to smaller stocks, and it’s a different story…
Francois’ prediction is this is only going to intensify in 2021.
Q. "Timon, on 10 February 2021, you banked a profit on Shoprite as it ‘hit your stop loss’…
Now as far as I know, a stop loss is level that you set when the trade goes against you and you take a loss.
Can you please clarify how you banked a 30.09% gain instead, when it hit your stop loss?”
A. Sure, I’ll be happy to explain…
On the 28th of December I told my Red Hot Storm Traders that I’m going to buy (go long) Shoprite…
Here was the Chart setup and information…
I'm going long (buying) Shoprite (SHP) CFDs
Stop loss: R124.50
Take profit: R151.30
Margin per CFD: R23.50
Then I let Shoprite’s price move up and down as I look for other high probability trades.
Over two months, Shoprite was trickling up to over R146.00.
This is where I wanted to protect my position and secure a minimum gain…
And so on 10 February, I sent out another email saying the following:
“Shoprite has been moving nicely in my favour, especially today!
I'm adjusting my stop loss on SHP CFDs to R145.30.
This way I'll lock in a minimum 30.09% gain should the trade move against me...”
And the next day, the price came back down as I anticipated and hit my adjusted stop loss.
As the stop loss was moved way above the entry (which you can most definitely do) I managed to bank a 30.09% gain…
This little adjusting stop loss trick has helped increase my win rate by over 70% over the last decade.
Managing Editor, Trading Tips