How to be a better trader

and make consistent profits from the markets

You have Successfully Subscribed!

Forex Trading in South Africa

Due to the internet and computer age, forex trading has now become available to ordinary people like us. But this is still a new industry in South Africa and its hard to know who to trust.

I’ve spent the last few years researching the market, writing about brokers mainly and now I’m trading myself (for the last 8 months with mixed results) and writing about it here on my blog.

You can sign up for my newsletters and receive emails to guide you sweetly and easily through the process of either becoming a successful and profitable trader or simply make the money you want from a managed account.

Why I wrote this article

To be honest, initially it was just because I wanted to rank for the keyword “Forex Trading in South Africa” and monetise the traffic and while I was once on Google’s front page and managed to get some decent traffic, now I just want to help as many people as I can navigate this tricky business.

What follows ares the latest blog posts about that I’ve composed about Forex trading. Its a mix of my own live trades and other valuable content I’ve found online.

I’ve spent lots of time going through the horrible stuff that’s online and here I’ve collated some of the best.

My Latest Blog Posts

Shorting NZDUSD on a retrace to the 21 day ema

We’re grateful to have a trending market like this one, the NZDUSD to learn trading profitably because this market faithful to the downtrend at almost every opportunity it get’s to retrace to the 8 or 21 day ema. In this post I document taking a blind entry at 0.66070 with SL: 0.67219 and TP: 0.63247 for slightly over 2R.

Daily Commentary 22/07/2015 by Marshall Glitter of IronFx

Market’s reversed from the trend of the past while with gold, oil and a host of other commodities lower all sparked off by the weaker than expected annual revisions to US Industrial Productions. If China is already slowing down, what does the impact of a slowing down US economy have on the world economy?

I was alerted to the idea of Forex Trading by chance when a friend of a friend mentioned it in passing at a dinner party and many months later decided to investigate further. After a long road, which I’ll discuss later in this blog, I opened my first live trading account in August 2014 and started with my broker’s minimum amount, $200. I actually deposited $220 because I’m just funny like that.

I’m updating this post and writing this sentence on 30 October 2014 an my account sits at $700 thus far. I probabaly won’t get too many opportunities to keep this post up to date with its current size but you can see my MQL5 signal in the widget to your right.

The Three Steps To Forex Trading Success

Step One: Find a Credible Forex Trading Course/Mentor/Community

Finding Nial online has saved my forex trading life. Before I decided to follow his system, I was trawlin the free forums trying to cobble together a coherent strategy but since I’ve started working with the method he teaches, I’ve really become a more disciplined trader and I’m focusing on honing my trading skills.

With lots of free content on his blog (covering the psychological aspects of trading), a very reasonably priced course (around $350, and always has an endless 30% off discount), a trading system that works for those who want to trade part-time or full time.

This course may not be the one for you and I do know of other courses that you can try that could be more appropriate to you, so get in touch with me for a chat, my details are below.

Step Two: Choose an honest broker

The button above will take you to Axitrader’s website where you can open an live standard account, use this link for a demo account, or if you’re an advanced trader, then please get in touch for their ECN type account (you get a free forex vps with this one).

Now I know that this is not a South African Broker, you might as well use Standard Bank to trade if you’re looking for a local solution, but because of the course I chose to do, who recommends using New York close charts for the particular strategy he taught.

I’m also an IB of this broker so if you open an account through my link, I’ll earn a small commission from your trading activity and I’d most appreciative.

So please…. Click Here To Open A Demo Account with Axitrader

Forex Trading can be daunting in the beginning and they offer a simple way to get into the forex trading opportunity in South Africa.

With Forex trading becoming accessible to more people, many are trading and with some dedicated practice, especially the arts of patience and discipline, anyone can become a successful trader, from earning some extra income every month, or to building it into a full time business, or even a regular salary to replace their usual day job.

My story starts in February 2011 when I decided to Learn about Forex Trading, you see, I wanted to earn lots of money very quickly to realise my dream of living in the country and earn an income without too much “work”. I was looking for the holy grail.

I signed up with etoro, on a whim, didn’t enjoy their OpenBook trading.

Then learnt about Meta Trader, and other platforms. I also investigated forex robots like  FapTurbo, a forex robot, and while I was pleased with the results, it needs forex vps servers, and I realised that Forex Trading is not a get rich quick scheme, and its easy to lose money actually.

When I found LearnToTradeTheMarket.com, it literally saved my life, I eventually bought the course in August 2013 (it costs around $300 and well worth it, just don’t expect overnight miracles)  and its given me a a great grounding in how professional traders behave consistently and the simple, easy to follow plan to take action on its already bringing me a successful and growing trading account.

Shares

Be A Better Trader

Sign Up and receive tips and training on how to be a better trader

You have Successfully Subscribed!

The Global Leader

The Global Leader

In Online Trading. Trade Over 200 Instruments From One Platform Starting From Zero Pip Spread

Thanks for signing up. Please check your email for one from me, haroun@harounkola.com to confirm your email address (to prevent spam). Please check your spam folder if you can find it. Look forward to trading with you. Thanks Haroun

ironfx

Trade With IronFX

From a zero pip spread to a prepaid debit card for your withdrawals, IronFX are the most convenient (as well as being the most regulated) broker to trade with.
Sign up here for more info:

You have Successfully Subscribed!

Pin It on Pinterest

Shares
Share This

Share This

Share this post with your friends!

Shares