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TrendFollower

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TrendFollower last won the day on January 1

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  1. There you go Bitcoin has hit $9k. For me now $10k is a realistic price target and if that gets crossed then boy could we see a monumental move in Bitcoin with the potential halving narrative only 3-4 months away. For any high risk and aggressive trader I would want even a small position in Cryptos should a humungous move occur. I am not suggesting that Bitcoin is worth $10k or anything like that but this is the market dynamics in force here which is so strong. Large hedge funds are going to go long Bitcoin to try and profit as much as they can as the speculators and herd try to profit from this Bitcoin halving narrative.
  2. @EMDE, So here are some of the issues which I think you may be facing. You chose FX because it was affordable to start trading in? Do you think this is a strong foundation and a strong reason? It seems you may not have much experience hence your question and how you refer to be learning over the past 4 to 5 months. Liquidity is a main reason why traders select certain assets to trade. My main selection criteria is the 'Strongest Trending Assets'. So I want to identify them as early as possible and trade them only and ignore everything else that is available to trade. If you have a plan but are not completely sure how to explain it then there lies your problem. If you cannot explain your own plan then you need to simplify your plan. You need to start off by keeping your trading strategy simple. You need to keep your trading system basic and be clear what exactly your trading style is. Mine trading style is that of 'Trend Following'. It is not perfect and it does have its flaws but that is my trading philosophy that I follow. I use the 'daily' timeframe but I will look at the 'Monthly' and 'Weekly' and at times will zoom into the lower timeframes when looking at entry points and trying to assess if my stop losses are where I would want them to be. I am hoping those who trade FX can come in and offer you some more specific assistance in trading FX as an asset class. I am yet to identify a specific FX which happens to be the 'Strongest Trending Asset' at a given time above other assets which are available to trade. I think the liquidity fact may have something to do with it. An illiquid asset can shoot up in price far greater than a liquid asset but I am not encouraging you to trade illiquid assets but merely making a point. That is more for high risk traders with more experience and specific skill set.
  3. I appreciate there will still be many who see this area as a con or garbage but I do encourage those to read some credible books and credible material from credible websites online to see the growth in this area that is being witnessed before making judgements and assumptions which are not being supported by actions and results at present.
  4. So Cosmos (ATOM) is now available to trade on Coinbase and Coinbase Pro for those wishing to trading Cryptocurrencies. When it listed on Binance the price shot up so and the price has already reacted positively since this announcement. The website for Cosmos (Atom) is below for anyone who is interested. https://cosmos.network The link below shows the price, charts, market cap and other metrics. https://coinmarketcap.com/currencies/cosmos/
  5. @EMDE, May I ask why you chose to trade FX? Do you have a trading plan and if so then what reasons did you put in your trading plan as to why specifically you chose FX? Which FX pairs are you trading specifically and what is it about those specific pairs that provides you the reasons to trade them? I personally don't trade them but the answer to the two questions may help others on the IG Community to assist you and it may help you to have a think about a few things. In your opinion out of all the FX pairs which are trending the strongest either upwards or downwards and which pairs in your opinion would give you the strongest chance to trade in the direction of the trend and profit? If you can answer this then it may go a long way in assisting you.
  6. @dmedin, Another Carbon Emissions related thread if you are interested. The Natural Gas short trade has been a profitable one for those who have partaken.
  7. @dmedin, Thread on Carbon Emissions if you are interested.
  8. @dmedin, 😁 I can definitely resist. There is nothing like 'Following the Tape' as Jesse Livermore would put it. For me personally, it is all about following the price action. This will lead to identifying trends as early as possible. It will also help in identifying the strongest trending cryptos. Then look to trade in the direction of the trend and not against it. KISS (Keep It Simple Stupid)
  9. I just noticed Argo's new website which is far better than the previous one. https://argoblockchain.com/ Also have a look at the 'Significant Shareholders' in the 'Investors' section (top of the screen) which show some heavyweights like: Miton Asset Management Janus Henderson Investors Jupiter Asset Management https://argoblockchain.com/investor-relations/significant-shareholders/ I think Argo will follow the path of Bitcoin in terms of price action. If Bitcoin continues going up then I think so too will Argo and if Bitcoin begins another move downwards then I am afraid so too will Argo. These two are very closely linked as you can see from the chart. Also Argo is a great way to play Bitcoin without acquiring Bitcoin physically or trading it via derivatives, spread betting or CFD's.
  10. I don't know if anyone is invested in or is investing in JP Morgan Indian Investment Trust but I have been invited to 'Tender' 25% of my shares in the investment trust. Is anyone going to take this up and more specifically why? I appreciate that in this scenario there are no charges or costs related to selling which you would have if you sold normally through your online broker but apart from that and of course needing the money why would some of you consider selling now when Narendra Modi has a whole term left to push India upwards? I accept that the offer will be higher than the current listed price to entice holders to sell so there will be profits and for some investors very large profits that can be taken now but I think India's stock market has a lot more growth to offer once the anticipated downturn and correction comes and goes.
  11. Some of you may find this of interest. KR1 December Update ⏳️ https://medium.com/@KR1/kr1-december-update-️-313b2efc1bea
  12. Right now Cryptocurrencies are the best performing asset class in January 2020 in terms of returns and profits. I can see the asset class being strong in the first quarter of 2020 and certainty prior to the Bitcoin halving event. After that we could see the mother of profit taking, shorting and price crashes.
  13. I am expecting at some point 'alt coins' like Ripple and Stellar to catch up and show a strong upward price reaction to the recent surge in Bitcoin, Bitcoin Cash and Litecoin. Don't get me wrong both have shown positive upward movement but Bitcoin Cash has been far more aggressive and so to have Bitcoin, Ether, Litecoin, EOS and NEO.
  14. Have a look at the chart below 'daily' and the 'Money Flow Index' and you will notice that Litecoin is currently at overbought levels but the pattern of the 'red tip' is different on this occasion. This is a very bullish indicator and is a strong indicator of a strong trend emerging.
  15. Have a look at my post on December 29th 2019 (above). Now look at the 'blue rectangle' (below): Bitcoin Cash has performed like a superstar over the past few days. It is the best performing Crypto available on IG. It is currently trading at $368.20 and surely will try for $380 very soon.
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