by Ntombi Malatsi | Sep 24, 2015 | UNCATEGORIZED
Be informed and know what is happening on the markets, check out our daily Forex news as they unfold and if you wish to receive daily alerts of high impact economic news, subscribe to my blog (free), to subscribe please look for “SUBSCRIBE TO MY BLOG” found on the right hand side (sidebar), enter your email address there and click SUBSCRIBE, wait for an email with a confirmation link, click on the link and confirm, email might be on spam/junk folder, and have the alerts delivered to your email daily, i value you and i promise i won’t spam. What i report here is the news to look out for on this particular day. For each event check out the results or outcomes here.
by Ntombi Malatsi | Jun 2, 2015 | UNCATEGORIZED
Forex for beginners-Learn Forex in south Africa
Welcome to my blog, welcome to my home where I share all my trading journey and more. I have been trading Forex for some years now, it has been a rocky journey full of mistakes, very costly mistakes I must say. When I first heard about the Forex market not so many people knew what it was all about, it was foreign to many, being a woman made it even more difficult for me as most people involved in the Forex market are man, it is still the case even today, Forex trading is fairly new in South africa, but i am here trying to change that. I remember how difficult it was for me to find help when I was starting out, everywhere I went I could only find traders (mostly man) who were already on top of their game and had no time to assist a wannabe like me, especially a woman, those who were nice enough to pay attention were either telling me about some expensive software that I would need to purchase and high fees to pay only to be taught for 4 days. In search of help I joined many Facebook groups and forums but still I found nothing but learning more about the lifestyle of the traders in the groups, their cars, expensive watches, designer clothes and showing off stacks of hundred rand notes, I felt like an unrecognized “cheerleader”.
I know a lot of people can relate to what I am saying here, maybe it is exactly what you are experiencing right now. I went through it all, I paid thousands of rands trying to acquire knowledge but it was all in vain, I would pay and they would open trading account for me and never care what happens to me after, they would refer me to babypips (which is a very helpful site) but unfortunately it doesn’t help that much if you are clueless, as most of the staff you read there is all new and foreign, not to mention the jargon. It is better to have someone who is already trading to help you especially if you have paid some money to the person, YouTube videos are helpful as well but not to teach you, but to assist when you already know “HOW TO”, after all i still remained clueless and I lost a lot in the Forex market. Because I know how to be taken for a “ride”, I have been scammed a lot because I was desperate and people out there can use that against you, I am now offering assistance to those in need.
If you want to learn forex in south africa, I can hold your hand as a beginner and show you the ropes. I do not believe in trading robots and I have wasted a lot on them and none of them ever produced results. I feel it is always easier if you find someone who can hold your hand while doing it together with you, I am that person. If you are in South Africa even outside south Africa and really wish to learn more about the Forex market, feel free to contact me for private lessons Admin@learnfxtrading.net alternatively you can add me on any of my social media pages found on the sidebar. Thank you for stopping by and reading my post, if you find this information useful please feel free to share it using the share buttons below.
by Ntombi Malatsi | Apr 23, 2015 | UNCATEGORIZED
I think all of us would like to be patient, but just simply do not, because for us that means we would have to behave well even when we are not getting what we want or even when things aren’t going our way. And for that reason patience become a very difficult trait to posses. But it is extremely important for people who want to succeed in Forex trading and enjoy life to the fullest, i mean the people who really want to make it. When we are impatient, the situations we face in life will certainly cause us to have bad emotions such as giving up and feeling depressed. Now we all see how important it is to possess this trait. As much as we can possess patience we need to start by seeking Forex education before we can think of jumping to Forex market.
WE CAN ONLY STRENGTHEN PATIENCE BY EXERCISING IT:
The problem with many of us is that we kind of know what we really want and where we want to be, we have a clear picture of what is needs to be done to achieve that goal, we have it all clear, we know all the right phrases from famous and most influential business people, we watch Forex videos from successful Forex traders, we listen to all the right motivational audios, we attend all the seminars out there, we read all the right books and we are still missing the point, something is lacking, but what exactly are we lacking here?. We might be asking ourselves this question a lot of times and the answer to that question is simple, ACTION PLAN. One thing that we need to know and understand is that no one can actually get rich or financially free just by reading all the relevant books, blogs and magazines or subscribing to all the online daily Forex/news, even watching the economic news channel everyday. Same applies to Forex trading, one can only learn this skill by actual doing and getting proper Forex education. The only way is to find the real person who has gone through that path and learn from them, find that person who is a Forex trader and learn from them. Gaining knowledge is always the first step, try doing this 3 things below:
1. Identify roadblocks (those things that you think are keeping you from reaching your goal).
2. Find solution.
3. Develop action plan.
once that is done, make sure you find the right teacher, and i mean THE RIGHT TEACHER and do not focus on finding the right opportunity because the right opportunity without proper education is just as bad, since no one can just dive into water unless they can swim. In finding the right teacher, rather go for the kind of person who is willing to make you smarter, the person who is willing to instill confidence in you other than to prove to you how smart they are, because a teacher like that knows very well that by teaching others he/she is actually learning more as well on that particular subject. Stop”driving in the fog” and step out in the sun just find a good teacher and the rest shall follow, thank you for stopping by please do share the post using share buttons below.
SEEK EDUCATION NOT ONLY ADVISE BECAUSE EDUCATION CLEARS UP “ROADBLOCKS” THAT ADVICE DON’T.
by Ntombi Malatsi | Apr 8, 2015 | UNCATEGORIZED
Forex news -Canadian dollar:
Central bank : Bank of Canada (BoC)
Interest rates :0.75%
Commodity : Oil
From previous articles I mentioned that if you really need to know the Forex news surrounding the currencies that we trade, here on this blog you can find it all broken down into pieces in a way that is easy to read and understand, hopefully reading about those Forex news here is not as complex as reading from other sites, I have tried to make it as easy as possible. This post is mainly focused on Forex news canadian dollar, all the news listed here are specifically for Canada, therefore directly affecting the Canadian dollar. Canadian dollar otherwise known as the ”loonie” is the 7th most traded currency, this currency is also referred to as the commodity dollar (comdolls) because oil is most influential to the performance of the currency, its performance depends on raw material.
TRADE BALANCE
This is the latest release by statistics Canada which is released monthly about 35 days after month ends. It measures the difference in value between imported and exported goods during the reported month, if the actual figure comes out greater than the forecast, that is good for CAD.
IVEY PMI
This is the latest release by Richard Ivey school of business, released 5 days after month ends and it measures level of diffusion index based on surveyed purchasing managers.
BUILDING PERMITS
It is the latest release from statistics Canada which measures change in the total value of new building permits issued. This is released about 35 days after month ends.
EMPLOYMENT RATE
It is the latest release from statistics Canada which measures change in number of employed people during previous month. If actual figure comes out greater than forecast, that is good for CAD, this data is released 8 days after the month ends.
UNEMPLOYMENT RATE
It is the latest release from statistics Canada which measures percentage of the total unemployment during previous month, if the actual figure is lesser than forecast, that is good for currency. The number of unemployed people is important for overall health of the economy, consumers spending is highly dependable on labor market conditions.
BANK OF CANADA MONETARY POLICY REPORT
It is the latest release of Bank of Canada (BOC) ,this is released quarterly, the more hawkish than expected, the best for CAD, this data provides valuable insight into the bank’s view of economic conditions and inflation.
BANK OF CANADA RATE STATEMENT
It is latest release by bank of Canada, it is also known as Interest rate statement. It is basically the primary tool for bank of Canada to communicate with the investors about monetary policy.
OVERNIGHT RATE
It is the latest release by bank of Canada that measures the rate of borrowing and lending of overnight funds between themselves. It happens 8 times a year.
BANK OF CANADA (BOC) PRESS CONFERENCE:
It is the latest release by bank of Canada where speaker is BOC governor and senior deputy governor, this is released quarterly after the release of BoC monetary policy. If the results are hawkish than expected, that is good for CAD.
CORE CPI
It is the latest release from statistics Canada which measures change in the price of goods and services purchased by consumers. If actual figure is greater than the forecast, that is good for CAD, this data is released monthly about 20 days after the month ends.
CORE RETAIL SALES
It is the latest release by statistics Canada, it measures change in the total value of sales at the retail level. This is released monthly about 50 days after month ends.
WHOLESALE SALES
This data measures change in the total value of sales at the wholesale level. It is also called wholesale trade.
CANADA GDP
This data measures change in inflation-adjusted value of all goods and services produced by economy, it is released monthly about 60 days after month ends.
Thank you for stopping by, please kindly share the post if you find it helpful.
by Ntombi Malatsi | Apr 1, 2015 | UNCATEGORIZED
In Forex Trading, size does matter:
I have discovered that many people still fail i n Forex trading even with the best strategies ever. It all boils down to Forex position size, strategy might be the best, you might even be using signals which works the best but only to suffer huge losses. One thing i need to advise traders out there is that in Forex, size does matter, it plays a big role, there is no standard small lot size, it all depends on the size of your own account, what is small for my account might be very big for yours, i have used paid signals before, i don’t remember my signal provider asking me how much i had in my account, i was receiving the same signal as with everyone and the size was just standard, it is only now that i know, i can see i wasn’t supposed to use that lot size for my account, i was supposed to decrease and use what was suitable for my own balance, i lost it all and had to add more money to my trading account (talk about being naive and clueless), i don’t blame them though, it was my duty to learn, but pity this is not emphasized mostly by those teaching Forex trading. A lot of times traders who never had proper training but only trade using random information from Google, groups or forums are mostly the”victims” because when you see everyone referring to a certain lot size as acceptable size to trade, you also blindly use that size not knowing the balances on the accounts of those you follow, this is the downfall of many, i still get shocked to see people posting their statements and seeing the lot size they use for the trades. It is unfair of me to say a certain lot is a reasonable sizewhen i don’t know how much a person funded their account with.
How do you decide on your Forex position size:
Once you have decided how much you want to fund your live account with, then you can decide on your Forex position size, you can either decide on a fixed lot size (that is when you trade same lot size for every trade regardless of account size) but there is a downside in going for fixed lot size, should your account go down you might just become over leveraged, so i think the best way is choosing certain lot size but making sure you can be able to change anytime to accommodate the size of your account, if your account goes up, also increase the lot size accordingly, if you suffer some drawdown, please do adjust your Lot size (very important) to suite your current account size, adjusting Lot size according to your account is very beneficial because you will always be risking same percentage on each trade irrespective of your account size. Risking same percentage per trade takes us back to money management which play important role in you making or breaking it as a Forex trader, money management is a topic that is continuously written about, but unfortunately traders never seem to be bothered by it, hence the huge losses, however any professional trader, money manager or anyone who deals with money will agree that without sound money management system you will ultimately affect your returns or profits, i am shocked though by how the traders just gamble their way to the market, that is why they never last, making it big today only to lose it all tomorrow is the “YO YO GAME” they play, trading smaller size allows a trader to sustain far greater amount of losing trades than if they had larger lot size, try to have a set and disciplined money management strategy and stick to it.
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by Ntombi Malatsi | Dec 21, 2014 | UNCATEGORIZED
One of the most dangerous position any person can put themselves in , is to depend on one Income for a living. Being caught up in a “rat race” where everyone is fighting/pushing for the top position is something that i could not stand anymore, because i hated being told what to do -Kim Kiyosaki.
I was introduced to Forex trading by a friend who did not only tell me good things about it, but also how challenging it is, I remember saying to myself “bring it on” I love being challenged. So i started, I must warn you though, it was not that easy. Good thing about it was that i could do it on demo account (no real cash). I started practicing for over six months on that demo account and was making it, just like many people, I also thought it would be as easy as on demo and i was actually ready to go live.
When i finally did, I realized that the profits i was making from demo account changed drastically. It was my state of mind because i was then trading with my hard earned cash and it was totally different, there were emotions involved, fear kicked in and i was totally in a different space than i was while i was doing demo, I would go back to demo on daily basis and i would “kill it”, but come live account, i would just get so nervous and mess up.
I Would make huge profits, which was a different story than what was really happening in my live account. From that experience i learned that with trading you cannot really call yourself a trader unless you have done it with real money, that is where the true test is, real money is the deciding factor. While demo account is useful as well. Now i can proudly say i am a Forex trader and i keep on empowering myself, learning as much as i can and getting as much information available to me.
IT IS EASY TO GO TARGET SHOOTING WHEN THE TARGETS AREN’T SHOOTING BACK.
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