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I managed to bank R7,500 in the last three weeks!

by , 29 July 2021
I managed to bank R7,500 in the last three weeks!
Dear reader,

In today's article:

• Confessions of a lazy trader
• How to trade rand CFDs at a fraction of the price
• Why buy the Crypto Correction

Confessions of a lazy trader

Q. “I’m generally a lazy trader when it comes to calculations. I just want to take the trade without pulling out a calculator and pressing buttons to work out how many CFDs I’ll need to buy. With Velocity Trader, is there a place I can put in my trading levels and automatically see how much money I stand to lose or gain if the trade hits one of the levels? I have an account size of R12,000 and don’t want to risk more than 3% for each trade”
A. I have confession.
I am also a lazy trader and sometimes, I don’t even use my own calculator.
I do exactly what you’re asking for. I fill in my trading levels and write down, through trial and error, how many CFDs I’ll need to buy or sell.
With Velocity Trader, you’ll first choose your entry, stop loss and take profit levels.
As soon as you type your stop loss, take profit and choose the number of CFDs on Velocity Trader, it will show you how much you’re prepared to lose or gain should it hit the stop loss or take profit level…
Then start by typing 1 CFD.
By the stop loss and take profit windows, it will tell you how much you stand to lose or gain in your trade.
In this case, if you buy 1 Anglo American CFD you would lose R35.90 if it hit your chosen stop loss.
If you type in 10 CFDs, you’ll stand to lose R359 in your trade.
That’s 3% of your portfolio you were willing to risk.
All without the use of a trading calculator.
Take a look below.
Now you know how to trade CFDs without using a calculator.
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You could get an extra R2000 tax free a month from this investment.
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How to trade rand CFDs at a fraction of the price
Q. “Pickpocket Trader recently sent out a trade idea on the USD/ZAR. When I tried to buy the rand contract, the platform asked for over R10,000 to buy 1 contract. I only have R20,000 in my account and was wondering if there is another option to buy the rand contract for less deposit?”
A. Yes! With trading platforms, there are usually two options to trade currency CFDs.
There is the full contract where you pay the full price (R9,860) to own 1 CFD. And there is the Mini CFD where you pay a fraction of the price (68 times less) for each contract.
In the case with Rand Swiss, Velocity Trader, to be exposed to 1 USD/ZAR mini CFD contract you’ll only pay R145.42.
See below.
With any portfolio amount, and with any trading platform, I always trade the mini CFD contracts.
This way, not only do we pay less but also, we are able to manage our risk better with each trade.
Why buy the Crypto Correction 
While Bitcoin's been shaken up and down this year, there are dozens of smaller - yet far more lucrative - coins gaining momentum.
Just grab the change on your bedside table.
From Jan to June of this year, those in the know could've made 158%, 171% and 105%.
There's way more to come in the rest of 2021.
Trade well, 
Timon Rossolimos,
Analyst, Red Hot Storm Trader

I managed to bank R7,500 in the last three weeks!
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