First thing in the morning, you grab a coffee and open the newspaper. You scan through the headlines to see what's going on in the world. And then you decide to look at the classified section. In your mind you have that idea. One day there'll be a profit opportunity for you to make a side income from doing what you love. There is one tiny advert saying: Forex Trader wanted: Bank R100,000 a month t... ››› more
When there are opportunities to take someone's money, there are opportunities for fraud. I'm sure you've received a couple of these kinds of SMSs. “You just won R500,000, claim your prize now” “You're our 1,000,000th customer, you've just won R50,000” “Bank 1 million rand from doing absolutely nothing, just fill in this questionnaire” The catch is when you have to put in your banking d... ››› more
It's an ongoing quest trying to find the best broker. You'll always look for the cheapest broker with the lowest costs. But sometimes, finding that “amazing” broker can cost you thousands in the long run. Let me explain.
They will suck cash until you’re broke!
In an enormous market like the Forex market, competition is extremely tight. Brokers have to go out of their way to find the best... ››› more
Forex markets are among the most active and profitable trading markets, in the world. And where money lies, so do opportunities for fraud, profit and manipulation. You need to watch out for those serpent companies out there. Their sole purpose is to generate profits for themselves and for NO one else. And sure business is business at the end of the day. But ethics are also ethics. And when a busin... ››› more
As I write to you today, I feel silly.
I've just done a thorough analysis on gold, and what I see is absolutely unprecedented.
In the last couple of years, we've seen gold go from $1,900 down to $1,076 an ounce.
But looking at the chart, you've seen nothing yet! Gold was a safe haven and now it’s a living hell!
What you’re looking at is the monthly chart of the Gold Index.
... ››› more
Trading is risky, but in return for this risk you stand the chance of making quick profits.
The key to successful trading is to plan what you're doing before you put a trade on.
So what should you do?
Read on to find out…
You must have a trading plan
A trader who doesn’t have a trading plan is unlikely to do well. By ignoring the merits of a trading plan, you are more... ››› more
Being successful at forex trading doesn't just come down to banking a few hefty profits. Much of your success will depend on how well you manage your risk.
So what should you do to manage your risk effectively?
Read on to discover three ways to do it…
Forex risk management tip #1: Use stop losses
Stop losses are great at managing the downside when you trade forex.
... ››› more
Every indicator and price chart you use, is based on one thing.
Past data. This can be a major problem when you trade.
Go to any chart. You'll see with every uptrend and downtrend on a chart, there is some kind of reversal point. The point where the trend is exhausted, which will now move in the opposite direction.
And no matter what you use, Stochastics, candlesticks, RSI, moving average... ››› more
Trading can generate you staggering returns, but with the extra risks involved, some new traders find themselves quickly out of pocket.
So if you're a trader, how can you improve your chances of trading success?
Read on to find out…
Top trading tip #1: Risk and reward
When trading, you need to use a reward to risk trade setup. In other words, only put on trades where rewar... ››› more
I don't have many regrets.
But the one regret I do have, is not taking action four years ago and opening an offshore savings account to protect a portion of my capital.
The rand is a joke and your money is disappearing in front of your eyes. Not just lately, but for the last four years!
It's still not too late, though to take action and avoid a complete disaster.
After you're done read... ››› more
The end of the South African rand video is ready to watch...
Click on the play button below
"Wisdom yields Wealth"
Senior Editor: Trading Tips
Head Analyst: Red Hot Storm Trader
Author: 94 Top Trading Lessons of All Time
... ››› more
What a bitter-sweet situation we're in.
Jobs are being created in the United States of America and the economy is growing at a good pace. While back in South Africa we have the rand devaluing at record levels which is making it more and more expensive to travel and buy goods.
You can understand why it's a win/lose situation. But it doesn't have to be.
Let me take it a step further.
... ››› more
Many traders obsess about getting a high win rate on their trades. They strive to bank as many winners as they possibly can.
But the fact is, you don't have to have a very high win rate to be a successful trader.
It all comes down to the way you manage your trades…
Why a high trading win rate isn’t that important
Consider this scenario…
Two traders, Sam an... ››› more
The most traded commodity in the world is also the most disappointing commodity in the world.
The oil industry has taken off to new heights. And by new heights I'm certainly NOT talking about revenue or prices.
I'm talking about the ridiculous increase in oil production per day.
Back in 1980, we had around 59 million barrels of oil produced per day. This year we have over 85 million barrels... ››› more
Trading the stock market with contracts for difference (CFDs) and other derivatives can be risky. This can put some would-be traders off. They're simply too nervous to go it alone.
Well, what if I told you there was a way that you can make money from trading the stock market without having to go it alone.
And that you stand to benefit from an incredible winning streak that's already made mem... ››› more
If you want start trading the stock market, you can't just jump into it without doing some thorough preparation first.
You first need to make sure you know what you're doing and how you're going to do it.
Start by asking yourself these questions…
What you need to know before you start trading the stock market?
To begin trading the stock market, you need to give these questions som... ››› more
The DeLorean time machine is back!
Why do I say this? It's back to the Future Day - the date Marty and Doc crashed the future in the second of the three time-hopping sci-fi adventure films.
And the date was October 21.
It will probably be my highlight of the year, to go and watch the ‘Back to the Future' movie. The last time the movie was released was in 1985 and in 1986, the V... ››› more
If you want to start trading on the stock market or are already a seasoned trader, you're likely to always be looking for ways to improve your success and stack up more gains.
You need to know the essential trading tips that will help you become a better and more profitable trader.
Read on to find out what these are…
Trading tip #1: Know your market
Whether you’re trading the st... ››› more
Watch the short video clip below, so you can see how you can trade Forex anywhere in the world.
(If you don’t have time to watch the video, read the transcript below.)
Behind me is the London Eye which is a very big Ferris wheel, 135 metres to be exact.
I’m currently here in Southwark at MoneyWeek headquarters in London. And my trading account, is sitting in Johannesburg, in S... ››› more
Nowadays you need around R10,000 to build a portfolio of stocks and indices. But if you don't have that kind of money lying around, did you know you can trade Forex with just R500 start-up capital?
When I started trading, I was around 16 years old. I was managing a small coffee shop on weekends. Fortunately, I didn't have to pay for a car, house, family or anything. Basically, I had no re... ››› more
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