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  1. Hello guys. said something in the previous post that got me thinking and, I decided to do another post on it. That is confidence. Trading is all about confidence and, it takes a little bit of time and patients’ before you get there however, you do get there. I am still yet to see a trader who can tell us that he has never lost? I am willing to bet that there are very few of those or none at all. You got to accept the fact that you are not going to get it right all the time. That is the game of trading. When you first start, it can be rather damaging to lose a few trades. It’s not so much about the money that you have lost but, your confidence gets hit hard. If you read one of my previous posts you will read about revenge trading and so on. Confidence takes time and will grow as you become comfortable with your trading plan. Having the right mind set for this game is key. If you think you are going to become a millionaire over night then I think trading is not for you. The aim for me is to rather be consistent daily then get one big trade and loose 5? I set my self little targets. For example, I trade the South African t40. I try for 100 points daily. If I get more then that then, that is a little bonus. It was hard but, there were some days where I never took a trade at all. Trying to keep emotions in check is the hardest in trading and, I still struggle with that. Hope this helps
  2. Understanding fundamental and technical Analysis. In today's post I wanted to share a little bit about why understanding technical and fundamental analysis is so important. As I previously mentioned, I am not an expert and I'm learning day by day however, in order to become a successful trader, you must understand why the market moves in the way it does. Depending on which country you reside in, does a strong or weak US dollar affect your market? If so, do you know why? Is the market that you trade in heavily weighted in commodities? These are some of the crucial aspects of fundamental analysis that you need to understand before placing a trade. Let me illustrate with an example. The South African top 40 index is heavily weighted in currency sensitive stocks. The South African market is also heavily weighted in commodities. A week South African rand and high commodity prices often drive this market higher. The same can be said about the FTSE to a certain extent. You need to take some time out and do a little research as to why gold for example, moves the way it does. Once you get a grip of the basics, you can then follow this up with technical analysis through the use of charts. There are plenty free resources available on the Internet with regards to how to interpret different types of charts. Take your time and get an understanding of how candle patterns work. What is a bullish candle? What is a bearish candle? Some of you who are experienced may find this section of the post and little boring however, there are a lot of people who don't know anything about how to interpret charts. If there are any experts which I am sure they are, please feel free to start a thread on the basics of candlestick patterns et cetera. That's all for today.
  3. IG still offers the old-fashioned telephone call which is really helpful in sticky situations. I will do an update to this thread shortly
  4. Hi. So it’s time to give this thread an update. We covered a few aspects so far but, there is a bit to go! One of the major factors that see new traders blow out there accounts including myself, is revenge trading. You start the morning and start with a losing trade, you then take another one to try and make up for the first one and, that to, does not work out. You try the third time and again, bang account almost blown out. You think you got one more shot at it and you have now smashed your entire account. We all have been there when we first started. Trust me, do not do this. You will just become stressed out and extremely frustrated. Develop a strategy. Set yourself targets. Say to yourself, I am taking 2 or 3 trades for the day and that is that. If they work then good for you but, if they fall apart then stop and sit on the side lines for a bit. Do not revenge trade. In the long term it just does not work. Well, the worst is when you are on a losing trade and you close out only to find the price rocket just after you leave. The general thing that new traders do is to jump back in only for the price to fall again. Like I said do not revenge trade. Something ells for new traders to apply is a strict stop loss. If the target hits the stop loss then stop. Another serious mistake that new traders make is they keep on moving the stop loss as they have a belief that, “if I hold it a little longer it will bounce” Don’t do that!!!! Stop losses are there for a reason. IG offers a great trailing Stop loss feature use it. You can lock in profits with it. That’s all for to day
  5. Hi there and welcome to the forum. R.100 is far too little to start with. A good size account would be 10 K plus. In my opinion. Mod Edit >> edited out personal contact information
  6. Hi and welcome. I started a thread in the intro section. Go check it out. What help would you like? Start a thread on what you are looking for.
  7. You can find a local trading group by just using Google. Also maybe start a thread and find out who lives in your area? I think prt is fantastic but you can also use the normal charts as well.
  8. The way things are going, we might not to see that gap filled and you might get to the 43,000 before you know it. The only upside from here would be China's positive GDP number on Wednesday.
  9. Hi and thanks for the fantastic feedback. Strangely enough I also got caught up with the binary options trading companies and it did not end well for me. Well I am glad I have made that mistake and now that is over. So let's get started with post 2. So, now that we got our account funded and we have played with the demo, we can make our first trade. One of the rules that I try and stick by is try not to risk more then 5% of my capital on any trade. If you are trading with a small account like many of us new traders do then this is not very easy as we want to see the big money come poring in. Having a risk management Strategy is vital in this game. Just as you can make big profits you can loose big as well. The next course of action that I should have undertaken was to find a trading group. This forum is a good example of that. Depending on which country you are from there are many good groups locally that can offer advice and opinions on a lot of the local stocks and shares is that you may want to trade. I have found that sometimes these groups have proven to be in valuable. The next aspect of my trading is keeping an eye on economic calendars. We are rather fortunate on this one as, IG has a mobile app called IGTV. From what I can see, it is updated daily with all the economic news and company earnings for the week and the day. This resaws is free and you should make use of it. I will update this further in post3
  10. Hello every one. I thought as a member of this fantastic community, I will share some of my experience as a trader so that new traders don't end up making the same mistakes that I have made over the years. Firstly, I am not a professional trader however, I have been doing this on and off for a few years now. I am sure there are other members in this community that have a lot more experience and can contribute to this thread. Like I have indicated previously this thread hopefully will help new beginners in making profits. Okay, if you are reading this then I will assume that you have an IG account. This is one of the most important aspects of trading in my opinion. Having a good broker with an excellent trading platform. I have used many platforms previously and am happy to say that IG has met all my expectations and more. I need to point out that I am not an employee of IG. The fact of the matter is they offer a fantastic platform built for mobile and web. So naturally, the first point that I would make to a new trader is to find a reputable broker. Secondly, in keeping with the theme of brokers, ensure that they have a demo account option. Lucky for us, IG wins on that front as well. Now that you have your account opened, and funded, you are ready to trade? Not yet... This is one of the biggest mistakes that I made when first starting out. I was so eager to trade, that I ended up losing a good portion of my initial investment. If I could turn back the hands of time, I would of spent more time reading, reading, and more reading. There is so much of free information available on the Internet and YouTube that you have no excuse to learn what in fact CFDS are and, how they work. I wish someone had told me that before I thought I knew everything. I am going to call this post one. If this is something you guys think I should continue updating then I will in instalments. Looking forward to your comments and opinions on this thread.
  11. Play with the demo until you get the hang of it.
  12. Hi mate and welcome to the South African club. Unfortunately the index has been range bound over the last few days. Do you want to trade the South African cash index? I would start with the R2 mini contract until you get the hang of it. IG also offers a demo account in which you can trade the index to get some practice. Unfortunately, trading the index can be very risky without having typed stop losses. I would wait for the payroll numbers today out of the United States before trading the index. As much as trading the index maybe risky, if you get it correct it can reward you handsomely. What would be very nice is if we as South Africans can have a WhatsApp group or something so that we can quickly give ideas on trading. I am not sure whether this comment is allowed on this platform. I apologise in advance if I have over stepped the mark here.
  13. Hi guys. Does anyone have an opinion of the stock? Looks like a good buying opportunity but, wanted to get your thoughts.
  14. Yes agree. The South African top 40 index has not been behaving too well recently. I took a bit of a beating on it. Would be nice to get some analysis and guidelines on the index as well.
  15. Hi and welcome Nice to see another Durban nite
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