A. Thank you Gerhardt!
Yes, we saw Sasol rise over 3.6% last week. Well spotted!
In fact, before we get to Sasol, it’s important to note we saw the oil price surge to a 10-month high.
This was due to the big news that came out in Saudi Arabia.
Basically, they have decided to finally cut an extra 1 million barrels of crude, a day, in February and March.
And when supply is cut, demand rises and so does the price as more investors start to buy more.
And yes, Sasol has been on my watch list for the last three weeks as it's been forming a strong break out pattern. I can't tell you when I'll be buying but, it is almost ripe for the picking on my side.
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Q. "Timon I want to be a trader but I only have a laptop. All my other trader friends and colleagues have at least three monitors. Do you think I can trade with just a laptop or should I wait?"
A. Allow me to let you in on a little secret.
For the last eight years, I have been trading and sending out trades with nothing more than a laptop.
In fact, I gave away the two Samsung 28 inch monitors I had.
You know why?
Two reasons. First, I hate clutter on my desk and having to unnecessarily turn my head left and right to look at each screen.
But more importantly, I travel A LOT. And whether I travel to Durban, Cape Town, Dubai, France or Greece – the last headache I need is carrying bulky monitors everywhere I go.
And so when I trade which is (30 minutes a day or so), I have my charts open and below are my trading specs. That's it.
Don't ever feel discouraged by comparing yourself to others and what they think is right. Don't let anyone stop you from trading.
If you have one laptop, a bit of time and a decent internet connection, you can become a very successful trader!
Managing Editor, Trading Tips