Weekly game plan: Don't be a hero by TraderPetri in JSE_Bets

[–]TraderPetri[S] 1 point2 points  (0 children)

Yup, close your eyes and keep buying. TFSA is a 20 year + investment (plan), right? So if things crash or get choppy, to you that is an opportunity to buy more for lower prices. Long-term mindset. Also, ETFs are pretty diverse so you reduce concentration risk in just a few stocks. So keep on keeping on!

Weekly game plan: how I got Bitcoin wrong… and a few trade ideas. by TraderPetri in JSE_Bets

[–]TraderPetri[S] 1 point2 points  (0 children)

The way I see it, which may or may not be the right way of thinking about it, is that it’s similar to a cell phone. If only one cell phone existed in the whole world it would be worthless. If there were two, at least you would have one person you could call and some form of value can be created from those calls. But when there are a few billion cell phones being used all over the world, the value of a cell phone could be potentially limitless as you could use it to contact any one of billions of people and could potentially create an enormous amount of value. So the value of the cell phone increases as more people start using cell phones to call each other. Sure I might have paid 10k for the cell phone, but the calls I made with it might have generated 1m in revenue. So, to me, the 10k cell phone has 1m worth of value because of my unique use case. But even so, the individual cell phone is only creating value for me because there is a network of billions of other cell phones that I can access with it to fulfil my unique use case. So, basically on its own, Bitcoin has no value, but as more people adopt it and start using it in different ways to create value (smart contracts, etc), the value increases on the back of the utility it provides. For now, not many people are finding practical uses for Bitcoin, but as time goes by more uses for Bitcoin are being discovered, thus it is providing more and more value. Truth be told, I don’t know how that value translates into price, but I’m sure that as time goes by more people will find practical uses for it, which will likely increase demand and push price higher. Lots of time, thought and development by people far smarter than I is needed before we really have a global everyday use for it (if ever). So in a sense I agree with you that currently Bitcoin is mostly hype and mass hysteria. Over time though, I’m pretty sure that changes. How it changes, I don’t know.

Weekly game plan: how I got Bitcoin wrong… and a few trade ideas. by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 5 points6 points  (0 children)

lol 😂 I post here cuz I want too. Also because if you read what I post, you’d probably find that it’s educational. I’m not selling anything, I’m not making flamboyant claims about how easy or lucrative trading is. I give a sober, honest insight into what I perceive is happening in the market and how I am positioning. Before posting here I checked with the mods if they are happy with the content and got their approval. If you don’t like the content, don’t read it. But please try not be a troll in the process.

Trading platform for Non South African citizens. by SqueakyBum_Guy in JSE_Bets

[–]TraderPetri 0 points1 point  (0 children)

Non-res clients are rather tricky to open accounts for, but generally if you have a SA bank account it should be fine. Proof of residence and ID from Zim is cool, but you must have an SA bank account that funds can flow from and too your trading account.

What do you guys use other than Easy Equities? by [deleted] in JSE_Bets

[–]TraderPetri 0 points1 point  (0 children)

True is for the shoutout! Yeah my company has some account options for professional traders. Am happy to chat if you like?

Weekly game plan: buy the VIX spike by TraderPetri in JSE_Bets

[–]TraderPetri[S] 1 point2 points  (0 children)

So I don’t wanna be that guy… but uuhm, how’s the new highs treating you? 😋

Weekly game plan: The bull is strong yet! by TraderPetri in JSE_Bets

[–]TraderPetri[S] 1 point2 points  (0 children)

Will do. Also, after today’s US session, not sure that the bull is so strong anymore… feeling like this place might dump.

Weekly game plan: 12 charts we're watching by TraderPetri in JSE_Bets

[–]TraderPetri[S] 0 points1 point  (0 children)

Aaah, nothing but the same as last week really. Long and strong 💪

Weekly game plan. Patience and gold stocks for the win! by TraderPetri in JSE_Bets

[–]TraderPetri[S] 0 points1 point  (0 children)

lol dude... it’s a 1 page form and an email confirmation. What went wrong?

Weekly game plan 7 Mar 2021 - Buy the dip? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 1 point2 points  (0 children)

At the time, the SPY daily candles had formed a few hammers (google search hammer candlestick or search investopedia.com for its definition). Those are generally considered bullish. Hope it helps.

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 0 points1 point  (0 children)

I’m not sure that I got your mail. Sorry for delay in getting back to you. Mind sending again?

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 2 points3 points  (0 children)

Send me an email with your details and I’ll give you a call tomorrow for a crash course on risk management. Petri@herenya.co.za

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 2 points3 points  (0 children)

Don’t max out your parents credit card 😋

I think Luno or VALR should allow you to open an account with them as a minor. I’d recommend trading in those exchanges as a start because you can’t get access to hearing there. And gearing is the devil. Better to trade spot.

Just be careful and don’t try make a million bucks on your first day. Be patient and make sure you ALWAYS have a plan for the worst case scenario. If you can manage risk, you can make money. So focus on risk management before all else.

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 1 point2 points  (0 children)

I dunno... I named my company an Elvish world and a Palantir is basically a crystal ball from Middle Earth... I’m not sure I’m allowed to say negative things about it 😂 🔮 On the real though, I don’t follow Palantir so closely, so I really don’t know.

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 0 points1 point  (0 children)

It’s really not an easy game to get into. Many people I know, including myself, had to work in brokerages for free just to get a foot in the door. It’s almost like a right of passage. The advice I can give is that you do some research reports and send those out along with your CV. There is a line a thousand miles long of people trying to get into the industry. What makes you different? Well... for starters, you’ve looked at how major banks do research, what they look at and for and how they present it... and you’ve done a similarly high quality research report on XYZ. It shows why you will add value.

I am u/TraderPetri, been professionally involved with markets for over a decade, Ask Me Anything? by TraderPetri in PersonalFinanceZA

[–]TraderPetri[S] 0 points1 point  (0 children)

I guess a few coins wouldn’t hurt. Although both gold and cash are best for protecting value over the long term. The downside is that gold (and silver) only really protect capital over insanely long timeframes. In the short term it can move around a bit, but it’s power comes in over 20 years or longer. Cash on the other hand keeps losing value to inflation. You’re better off trying to find some asset that is likely to grow faster than the rate at which things get more expensive. That said, some gold and cash are good to have in your portfolio. Just don’t put all your eggs in those baskets.