A lot of South Africans are under huge financial pressure. Increasing tax, petrol prices and the price of food seems to be leaving a lot of people with a scarce amount of money. What can we do to fight this?
Typically, the solution to the problem is not so simple. People normally talk about spending less to increase your net surplus of funds but in this economy, it is easier said than done. Something else you can do is increase the money you earn while keeping expenses more or less the same, but how doable is that? An alternative that people are starting to look at is day trading.
Over the last few years, trading’s popularity has grown exponentially. It’s a good way to increase or supplement your income without having to get another job or waiting for a raise. And a lot of people are starting to see that. It is also common that most people seem to think that trading is an easy way to earn money and it’s a good way to get rich quickly, and that’s where they go wrong.
Firstly, you need to assess how much you need to earn in a month to live comfortably. Once you can determine that with reasonable expectations, you can then decide where to start.
When you begin trading you will need to put down some capital, like every business you will need money in the beginning to start earning money. The amount of money you put in makes a difference to how much you would like to earn. Here is some reasonable expectations with trading:
Expect to grow your account on average 1% per day. If you are looking to make a success from trading then you need to be happy with a small growth of account daily, provided you are trading on a consistent basis with a good knowledge and understanding on the markets. You will also need a few things such as:
- A successful trading strategy with a hit rate of 80% +.
- Good trading psychology.
- Good risk management.
- Trading discipline.
- Trading community
Good news is that we actually take care of all of these small things needed to be successful in trading.
Expect to take losses. There is no trading system that will give you a 100% win rate, nothing in life is ever 100%. There will be losses in trading and there is no avoiding it, the best thing you can do is to keep your losses small and your wins big.
Don’t expect to make an overnight success with trading. Trading is a skill that takes some time to master, but once you have mastered it you have a skill that can make you money for the rest of your life.
So if trading sounds like something that can help you build more financial security then jump onto our FREE Wednesday Night webinar hosted over zoom. We will cover some trading basics, some strategies, and some psychology. The session will be recorded and will begin at 19:00. So don’t miss out, its free of charge and you will get to kickstart your trading journey ASAP!
If you would like to reserve a spot, please contact me and I can send you the invite code.
WHATSAPP: +27 60 368 7812
CALL: +27 64 783 1088
I hope to see you there
Happy trading!
Antonio Monteiro
Trader at The Systems Traders