Capitalizing on Political Changes
As you may know, South Africa has had a cabinet reshuffle this morning which has resulted in the Rand becoming weaker. Earlier this year the Rand was R12.20 against the US Dollar, today it sits at R13.60 against the $ and this may be 14 very soon.
Upon hearing the news, I placed two trades this morning on two different account sizes:
1. On a $250 account: 4 trades were placed and a profit of $107.04 (R1 455.74) was made.
2. On a $40 000 account: 2 trades were placed and a profit of $2 686.65 (R36 538.44) was made.
That was a good R37 994.18 in 10mins, without using any trading signals. I simply applied short term technical analysis and capitalized on political changes.
As much as a cabinet reshuffle has a negative impact on our currency, life will always present a glass with half the amount of water in it. Its up to you to decide if you perceive it as “half empty” or “half full”. Whether your trading account is small or large, there’s always room to capitalize in any circumstance, you just need to be equipped with the right tools and knowledge.
Happy Trading to All!!