A. I understand it can be rather boring sitting at home, waiting for trades to line up.
Especially, now that we’re in the COVID-19 lock down, which I believe will be extended…
Lucky for you, I have three ways to help increase the number of trades you take per week.
Tip #1: Drop the time frame
First, you can lower your time frame from a daily chart to 1 hour, 30 minutes or even 15 minutes.
With a lower time-frame, you’ll see more price bars added on a chart in a day.
For example: If you trade shares on the JSE, using a daily time frame, only one bar will form (between the open and closing price) between 9AM and 5:00pm.
However, if you traded shares on the JSE, using a 1-hour time frame, you’ll see nine bars form within one trading day.
This means, with a 1-hour time frame, you’ll have more trading opportunities present themselves compared to with a daily time frame.
Tip #2: Look at more markets
If you only trade on the JSE, then this can be limiting to the number of trades you take in a week.
And so, you can simply expand the number of markets you look at in your watch list with your strategy…
• The Top 40 stocks listed on the JSE
• The Top 18 Stocks listed on the S&P 500
• The Top 11 Stocks listed on the Dow Jones
• The Top 28 stocks on the FTSE
• The 9 major Forex currency pairs
And so on…
When you increase the number of markets you look at when trading, you increase the number of new trades lining up.
Tip #3: Adopt or create a new strategy
Another idea to raise the number of trades you take in a week, is to have a new trading strategy.
You can trade your Moving Average strategy along with any other style system such as:
• A Breakout Price trading strategy
• A Volume based trading system
• An indicator style strategy
PLEASE NOTE: No matter what system you use, you should always back test and forward test these systems before you trade them with real money.
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Q. I plan to move to America as soon as the lockdown ends… I currently have a trading account in South Africa.
I have two questions. First, why is Spread Betting outlawed in America and will I be able to continue Spread Betting when I move to the U.S?
A. First I have to address what Spread Betting is for my members before I answer these questions.
“Spread betting is a financial derivative method that allows you to place a BET size on where you expect a market to move in price."
I understand that Spread Betting has been outlawed in places like the U.S.A, Japan and Australia.
The reason for this is those countries regard it as a form of online gambling.
And because there is no tax law in place to ensure the government gets its fair share, the IRS – which is America’s SARS - did not take kindly to this form of trading.
If you have a trading account open in South Africa with a SA bank, you will be able to continue your spread betting where ever you are.
You’ll just need an internet connection to log into your South African trading account, and continue trading as usual.
When you need to withdraw money, it will be deposited into your South African bank which you’ll then need to find a way to withdraw it in US dollars.
Managing Editor, Trading Tips