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6 More Trading Time WastersWith trading, time is money. And every wasted moment is a missed opportunity. Every day you skip. Every high probability trade you miss on whatever market you’re trading. Even every loss you take according to your strategy, is one step closer you’re missing to success. I wrote about time wasting in the previous article. And I can’t stress enough how important it is to get yourself into gear. It’s time to take control of your time and trading actions. Here are 6 more trading time wasters. #1. Chasing the News Turn on Bloomberg, CNN or BBC. Flicking lights. Loud sounds. Entertaining drama, drama, drama. It’s like watching Netflix. And if you become obsessed, it’s easy to fall into the trap of chasing the latest news headlines. Breaking news is inevitable. And staying informed is great. But it’s NOT necessary to adapt the news into your trading strategy. In fact, the hyped up news will lead to impulsive and emotional decisions. Don’t fall for the news mania. Save that for AFTER your trading. And watch it for entertainment and education. Nothing else. #2. Checking the Portfolio Often Ahhh! The Perils of perpetual monitoring. Listen… Your portfolio is not a ticking time bomb that requires constant supervision. As a young trader I get that it’s tempting to check your gains and losses every few minutes. But this is a long term game. So if you adopt this checking bad habit, you’ll see it can breed anxiety and cloud your judgment. Maybe check your portfolios once a day. Or even every few days. But lose the obsession please. You’re wasting precious time and energy on unnecessary stuff. #3. Analysis Paralysis Another mistake is drowning yourself in data. Too much analysis can lead to paralysis. Endless charts, intricate patterns, and an abundance of indicators might make you feel like a trading virtuoso. But you’ll quickly learn that, it won’t necessarily translate to profits. Rather stick to the K.I.S.S – Keep It Simple Stupid. Simplify your approach, focus on key factors. And please make decisions based on a clear understanding rather than drowning in a sea of data. #4. Procrastination Procrastination is the silent killer of trading success. To leave it to tomorrow. As they say. Tomorrow never comes. All you have is NOW. So, if you want to trade – Get a coffee and sit down and take action. Delaying decisions can mean missing out on lucrative opportunities. Set clear goals, establish a solid plan, and execute it without succumbing to the siren call of procrastination. Time wasted is money lost in the dynamic world of trading. #5. Overcomplicating – Don’t be a trading jack of all trades! Trading doesn’t need to be a convoluted puzzle. It doesn’t take a rocket scientist to trade well. You don’t need a degree or even a complicated strategy. In fact, if you overcomplicate your trading, it will lead to more confusion and poor decision-making. Be a master of a few effective markets, time frames, strategies, money management and techniques. #6. Fear of Taking Action This my friend is the stagnation trap. Inaction out of fear is a formidable enemy for traders. You need to remember that fortune favors the bold in the world of trading. Those who: Deposit money. Learn all about trading well. Practice with a demo account. Adapt a winning trading strategy. Keep persistent with their trading. Are the ones that will win…’ FINAL WORDS: So stop wasting time and start doing more to achieve your trading dreams. Let’s sum up the 6 trading time wasters. #1. Chasing the News #2. Checking the Portfolio Often #3. Analysis Paralysis #4. Procrastination #5. Overcomplicating – Don’t be a trading jack of all trades! #6. Fear of Taking Action
TVC:SA40Education
by Timonrosso
Candlestick SrengthCandlestick Formations form part of technical price charts, which are are used by market participants to interpret current demand-supply dynamics, potential price trends as well as form decisions from these inferences. The tables below highlight the following: (1) The share code (2) the candle's 'change from open’ (over 1 session) i.e. from the start of the first hour of the trading day to the end of the last hour of the trading day'. This is used to determine the strength/weakness of the candle formation i.e. the greater (+) the percentage, the stronger the candle formation and the weaker (-) the percentage, the weaker the candle formation and (3) the share's short term technical rating i.e. which phase the share is in over a 7 day period.
JSE:J200
by techpers
6 Top Trading Time WastersYou need to stop wasting precious time. I have had members who’ve been with me for 15 years and haven’t even taken a trade. I have written this article in a way that you can relate to the problems with traders wasting time. Ready? #1. Wait for Inspiration Trader A: “I just can’t trade today. I’m waiting for that magical moment when inspiration strikes!” SOLUTION: Waiting for inspiration in trading is like waiting for money to rock up at your doorstop. It doesn’t happen! Successful traders create their own inspiration, discipline and integration by TAKING ACTION. You want a sign. Here’s a sign. Start today, do not delay and don’t wait for another sign. #2. Complaining Trader A: “The market is so unpredictable and complicated! I can’t catch a break.” SOLUTION: Stop complaining and start acting, adapting, growing and evolving. Markets change, that’s the only constant about it. And they move up, down and sideways. So, instead of moaning about it, embrace the volatility. Complaining won’t make you a better trader, but adapting to change will. #3. Doubting Trader A: “I’m not sure if I can make this trade. It’s going to be a loser.” SOLUTION: Doubt is the enemy of success. Trust your analysis, track record and your stats. Stick to your strategy just keep at it. This is a long term game to success. When you doubt yourself, you manifest a deeper element of self-failure. You need to stop wasting precious time and opportunities. Confidence, certainty and trust is key! #4. Comparing Trader A: “Look at their profits! I wish I could trade like them.” SOLUTION: Comparison is the thief of joy and the delayer of self success. You should only focus on your own journey. You are running your own marathon. It doesn’t matter how much money you have. It doesn’t matter how long you’ve been trading., It doesn’t matter if others are doing better. You need to focus on your trading time line. #5. Excuse Giving Trader A: “I didn’t trade well because the market was too volatile.” SOLUTION: Excuses won’t make you a better trader. I don’t have enough time. I don’t have enough money. I don’t have enough experience I don’t have enough patience. I don’t have enough anything. I repeat – Excuses won’t make you a better trader. Take responsibility and take accountability for your decisions, good or bad. Learn from your mistakes and use them to refine your trading strategy, stats and track record. Excuses only waste time; accountability fuels improvement. #6. Fear of Failure Trader A: “What if I lose all my money? I can’t handle the risk.” SOLUTION: As I always like to say. You ONLY fail when you quit. Fear is natural, but letting it control your actions is a mistake. You need to manage your trading and risks better. You need stay laser focused with tunnel vision. With trading you should not AVOID losses – as they are inevitable. You should embrace both winners and losses to come with the trading venture. You can’t win them all. But you also can’t lose them all. Keep that in mind when you trade. FINAL WORDS So, by now you should have one thing in your mind. Stop wasting time with your trading. Every day you delay is another profit opportunity you’re letting go of. Let’s sum up the 6 Time Wasters with trading. #1. Wait for Inspiration #2. Complaining #3. Doubting #4. Comparing #5. Excuse Giving #6. Fear of Failure
TVC:SA40Education
by Timonrosso
HOW TO USE THE RELATIVE SECTOR REGIMES: Example/JSE Technology HOW TO USE THE RELATIVE SECTOR REGIMES: JSE Technology as an example. This data set is published daily and shows how a sector is performing compared to the broader market (using JSE Top 40 Index as a proxy). Toward the latter part of last week, NPN and PRX (JSE Technology) was trading in an oversold range versus the Top 40 Index. This can be seen with indicator trading in the blue shaded area (value/cheap zone). By trading in this zone, the data suggested that there was an opportunity to possibly buy the sector for a rebound trade. We have since seen NPN and PRX stabilize, with a minor rebound, which gave short term/actives traders an opportunity to profit.
JSE:J200
by techpers
Candles Strength END OF DAY TUESDAY 12 March 2024Candlestick Formations form part of technical price charts, which are are used by market participants to interpret current demand-supply dynamics, potential price trends as well as form decisions from these inferences. The tables below highlight the following: (1) The share code (2) the candle's 'change from open’ (over 1 session) i.e. from the start of the first hour of the trading day to the end of the last hour of the trading day'. This is used to determine the strength/weakness of the candle formation i.e. the greater (+) the percentage, the stronger the candle formation and the weaker (-) the percentage, the weaker the candle formation and (3) the share's short term technical rating i.e. which phase the share is in over a 7 day period.
JSE:J200
by techpers
I'm done with this!We’ve all had this moment. Where we stare at our screens, scratching our heads, wondering a bunch of stuff. Why is this so slow? Why can’t I press the button Where am I going wrong? We’ve chased trends, hesitated when we should have acted, and let our emotions play puppeteer with our portfolios. Today is the turning point. For you! It’s time to say… “I’m done!” This read could be what you need to win this year. #1: I’M DONE: Making Excuses Enough is enough! No excuses this time. Open your trading account Deposit more money Adopt strong trading strategies Have the right calculators and journals to follow Keep at it. No more blaming external factors; it’s time to own your trading career and learn from them. #2: I’M DONE: Feeling Emotional Trading with emotions is like juggling dynamite. Sooner or later, something’s going to explode. Whether you have been on this rollercoaster of euphoria and despair for far too long. If you celebrate winners or get angry over losers – The emotions will only enhance and will develop into emotional turmoil. It’s time you take a more rational approach. Risk less – If the amount is too emotional to handle. No more “I know better trades” than my trading strategy. No more fear, greed and definitely NO MORE EGO! It’s time to trade with a clear head and a steady hand. #3: I’M DONE: Rushing the Process Patience is not just a virtue; it’s a survival skill. Have you been guilty rushing into trades without proper research, hoping for quick wins. Have you been irritated how slow the progress is to build an account. Have you felt the need to quit during drawdowns. Guess what? No body fails with trading. They quit. The market doesn’t care about your impatience. From now on, adopt the mantra: “Slow and steady wins the trading race.” #4: I’M DONE: Doubting Myself Self-doubt is the silent assassin of trading success. It creeps into your mind, sows seeds of uncertainty. Before you know it, you’re second-guessing every move. Stop! Remember, you are the BOSS of your trading account, strategy and results. So act like a boss. Get rid of self-doubt and embrace more confidence. You have got the skills, the knowledge, and the experience. It’s time to trust yourself and let your trades reflect that trust. #5: I’M DONE: Missing Great Opportunities Regret is a bitter pill to swallow. Especially when it comes to missed trading opportunities. I’m sure you’ve kicked yourself one too many times for hesitating when you should have pounced. I still kick myself when I miss trades! We are human. We can’t see everything all the time. But remember this. The next trade is always on its way. You don’t need to feel FOMO (Fear of Missing Out). Always try improve on spotting and taking advantage of better trading opportunities. And know that taking trades (no matter how good they look) are always difficult. But they need to be taken. They need to be followed. From now on, be bold, seize the moment, and make the most of every chance the market throws your way. FINAL WORDS: It’s all on you! Every financial decision you make, is your responsibility. So remember to say out loud what we are DONE THIS YEAR. #1: I’M DONE: Making Excuses #2: I’M DONE: Feeling Emotional #3: I’M DONE: Rushing the Process #4: I’M DONE: Doubting Myself #5: I’M DONE: Missing Great Opportunities
TVC:SA40Education
by Timonrosso
1
Overbought: End of Day Thursday, 07 March 2024An overbought rating often overlaps with high bullish momentum however the long-side reward-to-risk can be unappealing. How can traders approach these shares and how can it lead to a trading opportunity? The bullish price momentum could continue, however traders may want to look for early signs of a slowdown via: (1) poor candle candle structure on the lower (intraday) time frames. The emergence of a neutral or bearish candle, for example: a ‘doji’, bearish engulfing, long upper tail etc combined with sizeable offers which may signal some institutional selling.
JSE:J200
by techpers
OverboughtTICKERS THAT MATCH (SUBJECT TO CHANGE) ANG ANGLOGOLD ASHANTI BVT BIDVEST GROUP HAR HARMONY GOLD MCG MULTICHOICE (CORPORATE ACTION) VKE VUKILE PROPERTY An overbought rating often overlaps with high bullish momentum however the long-side reward-to-risk can be unappealing. How can traders approach these shares and how can it lead to a trading opportunity? The bullish price momentum could continue, however traders may want to look for early signs of a slowdown via: (1) poor candle candle structure on the lower (intraday) time frames. The emergence of a neutral or bearish candle, for example: a ‘doji’, bearish engulfing, long upper tail etc combined with sizeable offers which may signal some institutional selling.
JSE:J200
by techpers