Last week Wednesday, as I was researching braai tips on Braai Day, I came across a world class braai'er!
You'll never believe this!
Braai Boy (Gareth Daniell) broke the Guinness Book of World Records for the longest continuous braai.
He braai'ed for a staggering 62 hours NON STOP!
As I was reading about his techniques and tricks, I couldn't help but think how similar it is to the way I trade.
In fact, I compared his braai'ing style to one of my most profitable trading strategies I have today.
Sound delicious?
Know your timing or you could burn your portfolio!
Gareth (Braai Boy) says that timing is crucial when you put your steaks on a braai. He says you should be able to put your hand over the fire, for five seconds, without burning yourself. And the coals must be only grey.
And just like timing is important when you braai, so is when you take on a juicy trade!You see, the trick is to be patient and wait for that trade to line up according to your profitable trading strategy.
If you time the trade right you have a higher chance of it turning out to be a winner.
Too many ingredients can be the WORST for your results!
Gareth says that you mustn’t feel the need to spice and marinate your meat too much. He says salt and pepper does the trick, every time!
And so he only uses few ingredients to flavour the his steaks, and so should you when you trade.
Traders think they need many monitors, plenty of financial instruments and tons of trading books on their desks. But this can actually cause you to ruin your trading account.
Looking at too many monitors can be stressful by having different charts up at any one time. If you’ve just started out trading, then two monitors are all you need to monitor your charts. And another to put in your prices and check your trading account balances.
And second, you must choose between a selection of financial instruments to trade rather than just trade everything…
It’s exciting to know that there are countless opportunities to trade from in different markets, but this just leaves you with more work you don’t have to do!
Rather, sift through these numerous markets, then work on and sharpen your strategy skills in just a few months that will suit your trading style.
For example, I only focus on twenty of the top 40 companies using CFDs, and that’s it…
So, next time when you’re out with your mates having a braai, not only will you braai the best meat, but also you’ll also know the way to trade successfully…
Always remember,
“Wisdom yields Wealth”
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