The amount of money in your account isn’t important. What’s important is that you understand we work on percentages. For example, let’s suppose we aim to make 3% per month. Whether you have $2000 or $20,000 in your account, the percentage stays the same. So on your $2000, you would make $60, and on $20,000 you would make $600.
Through research, for the most part, our working day consists of gathering data on assets through various data providers. Primarily we look for extreme readings and sentiment to determine ‘what’ to trade. We then monitor our findings and narrow down our list to a select few, which have the highest probability of success.
I first tried my hand at trading over 20 years ago in my early twenties. It has taken me most of those 20 years to come up with and perfect a strategy that works for me. It has been a long gruelling challenge, but this 20-year learning curve is common amongst traders who are determined to succeed.
I think ‘better’ is the wrong word. My strategy and method is not better than others, it’s what works for me. There is no right or wrong way to trade, if a trader makes money the way he/she does things, then there strategy/method is best suited to them. The art of trading is a rich tapestry, finding what works for oneself takes a very long time and patience.
Both. It’s my opinion that Fundamental and Technical Analysis is of equal importance. Most traders focus on one or the other, but I believe combining both gives me an edge.
There are many factors that contribute to a trader becoming successful or maintaining success. There’s a combination of attributes that a trader must master in order to become successful, such as Patience, Discipline and the ability to control his/her Emotions, a good understanding of key elements in this industry are also essential, such as Consistency, Risk Management and Psychology. There’s an unusual phenomenon amongst traders that are not so successful, and that is, they know all of the above, but simply can’t apply them.
‘Timing’ .. Every strategy has its strengths and weaknesses. With regards to my method and strategy and the service I provide, timing plays an important role. Identifying an asset to trade is one thing, getting the timing right is another. For example, let’s say through my research I identify a commodity which I believe will go up in value, which I usually get right 75% of the time. The real question is ‘WHEN’? So what do I do about this difficult problem? I monitor and turn my attention to technical analysis to know ‘WHEN’ to get into position, coupled with that I use longer time frames. So now it’s Jan 2020, let’s say I bought ‘Cotton’ on the 5th of August 2019, it actually started ascending on the 27th of August, almost a month after I bought it. But 5 months later which brings us to where we are now, it’s still in an uptrend and has gained over 1300 pips. And so for me, I would say I got the timing right on Cotton.
It depends, I like trading ETF’s but this can be problematic with some brokers on thinly traded assets, and the problem is periodic ‘Spread Widening’ which usually occurs at the beginning of a session. Why is this a problem? Because spread widening can take out your stop-loss, which needless to say is not a very pleasant experience. Share dealing is a good option if you are looking to hold stocks for the long term as with most brokers you don’t incur daily charges to hold your position as opposed to trading them on a spread betting platform. I use forward contracts on Commodities when ETF’s are not suitable.
Not necessarily, I would rather refer to them as zones or areas. Since I am looking to hold most of my positions for the medium term (3 to 12 weeks) I’m not too fussed about ‘specific’ levels, I focus more on getting the ‘meat’ of the trend, and so losing a few pips here and there at the beginning and end of a trade is not a concern for me.
Personally I risk 3% of my capital per trade, and I suggest that our members do the same.
Our services at Bottomcatcher are designed to facilitate traders at all levels (Novice, Intermediate and Professionals). However i would advise that novice traders have a good understanding of the risks involved with trading in general. Our services are particularly useful for traders with an existing portfolio who simply want to add positions.
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