I'm interested in trading intraday on the index. I was wondering if anyone else here does that? When I have heard other people talking about it the gearing always seems to be higher than what standard bank offers on the Satrix, am i missing something here?
but I have to add - thats the price I am willing to pay for a relaible absolutely guaranteed trade - unlike the local guys they dont go on lunch or suddenly drop out of the market and leave you high and dry....
Chartist, Nolan and I sit in the same office and we have been comparing notes on Fibonacci etc. Thanks for your video btw. We also trade the indices intraday and have started using fibs to great effect. I understand how to enter a trade using fibs and retracements, but my question is: How do you determine your exit level? For instance, I exited TOPDWI today for a 7.5% profit, thinking it might go down (when I'm unsure, I like to be in cash), but it has subsequently went further up. Could I have calculated this probability with fibs? I did have a good run with this, but could've let the trade run longer.
you have to ask - what made you exit the top 40? Unless you had a plan the only answer is fear - fear that you were going to lose profit. You have to have an objective target like a resistance level. You need to just be a robot - dont think when you are in the trade just excecute it - the thinking should be done before you are in the trade. My stop today is at 23450 (sell stop) of course I will be adjusting my stop loss up as we progress in the trade.
I'm busy looking into my options at the moment. I'd like to give it a try, although I'm just going to have to wait till I have a lot more free time on my hands. I'll still do as much learning as I can for now though and maybe try to get some practice in.