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TrendFollower

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Everything posted by TrendFollower

  1. @PJ19, Exactly right. You are the only one who has stated the obvious in all the time I have been on the IG Community. Letting your winners run will maximise the profit for your trading portfolio. Now if you use leverage effectively then the daily charges will be neither here or there. Using leverage effectively and letting your winners run will enable you to ride the biggest trends in your chosen asset as long as you have got the directional movement correct.
  2. @PJ19, Ok let us see what happens going forwards. I do not think trading is that easy that you can follow Elliot Wave Theory (EWT) and be correct and anticipate with any accuracy the future price, especially in relation to Bitcoin. I think trading Bitcoin is extremely difficult at times and if using EWT was all it took to predict future price movements then would'nt trading Bitcoin be so much easier? I am not discounting EWT and I am sure it has a place when trading the likes of Gold, etc. However, Bitcoin is a different animal altogether. Bitcoin will go down when you least expect it to and go up when you least expect it. I cannot see Bitcoin going down to those levels until after the halving event in 2020. However, I am more than happy to be proved wrong. At least you have supported the reason why you are anticipating the price drop to $7k to $8k levels. The price action will either support your EWT or it will reject it. I am very intrigued what will happen here. I am more than happy to be proved wrong here. There is a clear disconnect between Bitcoin's price action and narrative compared to other 'Alt Coins' available on IG so I think Bitcoin's road map is going to be different based on the having event but that it just an assumption from me. The price action will now test that assumption.
  3. @PJ19, The truth is I do not know what is going to happen to Gold tomorrow net alone next year. When I look at the 'daily' chart and zoom out then what I see is that these range bound moves can last longer than one thinks. Also every time it has happened since around 2015 has been followed by a downward move. Now I am not suggesting that will happen to Gold after this current price action as history does not have to be repeated and there is now rule or law that states it must. For anyone not long Gold, I would wait for the confirmed breakout to the upside before entering. If the next big move is downwards, those who were discussing shorting it will have been bang on the money. I personally do not set targets for holding a trade. It is until the trend changes. By all means hold a winning position but why plan holding till 2020? Hold it until the market gives you a clear reason to sell it. Hold it until the trend changes downwards. Hold it until technical analysis provides you with signals and indicators to sell.
  4. I just thought some of you may be interested in the following fairly recent articles in relation to Frontier Markets. Hidden gems: Exploring frontier markets https://www.investmentweek.co.uk/investment-week/feature/3077243/partner-insight-hidden-gems-exploring-frontier-markets Top Emerging Bond Manager Sees Payoff in Frontier Markets https://www.bloomberg.com/news/articles/2019-07-02/top-emerging-bond-manager-sees-payoff-in-frontier-amid-trade-war
  5. If anyone had any doubts about the traction of Blockchain then the following articles should help see what real momentum there is along with appetite for Blockchain to be utilised. Fidelity Digital Assets Is Hiring 10 More Blockchain and Trading Experts https://www.coindesk.com/fidelity-digital-assets-is-hiring-10-more-blockchain-and-trading-experts Amazon, Deloitte, Fidelity Partner With IDEO CoLab on Blockchain Accelerator https://www.coindesk.com/amazon-deloitte-messari-partner-with-ideo-colab-on-blockchain-startup-accelerator Senate moves Blockchain Promotion Act forward https://www.cnet.com/news/senate-moves-blockchain-promotion-act-forward/ I could go on and on but these are the recent articles from today which to me highlight how serious the world powers whether it be governments or corporations are taking Blockchain technology.
  6. Cryptocurrencies are taking their pretty normal tumble right now which was more or less expected. The only chart that looks bullish out of all the Cryptocurrencies that IG offers is Bitcoin. The Grandfather of the Cryptocurrency Universe. Cryptocurrencies like Ripple and Stellar have awful looking charts. I tipped them last year to be the best performing in 2019 and boy was I wrong. I could not have been more wrong. I think Bitcoin is still going to continue going up but the others are in serious danger if they cannot present to the world concrete and valid reasons why they should have such large market caps. If they cannot then they could soon be replaced with other 'altcoins' which can demonstrate this to the market and the world.
  7. Bitcoin just hit $11053.90. It seems to have buyers at this level for now as it back up to $11250 level. How long $11k will hold is debatable. On current short term price action there is a strong possibility $11k is breached which means the bears will target $10k for sure.
  8. @Excel09, The mere fact that after such a large drop Bitcoin is still trading at $11.6k is very encouraging in my opinion. For me it was not that long ago that Bitcoin was below $10k so anything above that price point is still bullish in my opinion. Should the price drop below $9k then my view may change. I choose to trend follow Bitcoin as for me personally it provides me with the greatest opportunity to maximise my profits by trading in the direction of the trend for Bitcoin. It also gives me the best chance of increasing the odds and probability in my favour as I am trading in the direction of the trend and not against it. This allows me to relax once I am in as everything in between the trend reversal is just mere 'noise / volatility'. I just have to ride the trend and do nothing clever what so ever. For me it is the easiest way to trade not only Bitcoin but all other Cryptocurrencies available on IG. The same applies during large downtrends. Once your signals / indicators are hit you 'short' Bitcoin et al and ride the slide downwards until the trend reverses. If you end up holding the positions for many weeks and months then so be it. The daily charges will be minuscule compared to your profits when you take leverage into account. You do not have to worry or panic about daily price swings or unexpected drops or rises. You also do not have to spend hours on the screen or hours conducting complex technical analysis which does not guarantee greater profit maximisation. It is one of the easier trading philosophies to follow. This can lead some to think that because it is so much more simpler than other trading strategies that it cannot be more effective or profitable as it is not complicated enough. You do not have to use complicated technical analysis or complex charts with lines everywhere so it must be overrated or simply not an effective trading strategy.
  9. Well Bitcoin went down to $11.1k. It has managed to defend $11k which is still pretty positive but what we do not know is what will happen for the next couple of days. For me $10k level is still a key support level and a psychologically important price point.
  10. For me the big drop in Bitcoin's price (nothing new or unexpected their for seasoned Bitcoin traders) has not changed the longer term upward trend. This is still in tact. If Bitcoin's price went below $10k and stayed there then I would have to seriously anticipate a trend change. If it went below $9k then based on probability it would be likely to continue going downwards as a lot of stop losses would be triggered and sellers would emerge. It would also attract new short positions being opened. For now nothing changes in terms of Bitcoin's directional charge upwards.
  11. @MYK1, You should use a trading strategy and philosophy that you: Understand Can apply and execute More important believe in I am not suggesting you must apply trend following principles. I am sure I will be accused of that by others. I can only discuss things from a trend following perspective as that is what I have chosen to use after looking at all the possible trading methodologies available to me. I find it easier though it takes a lot of discipline and one must follow the rules which they set as otherwise totally pointless. Some of the important technical signals / indicators that you may wish to look at are: Price Action Volume Moving Averages There are others but I am keeping it very simple right now. You need to write down rules which you will follow in order for you to enter a trade and exit a trade. You need to write down rules in terms of how much of your trading capital you will allocate to each trade. You need to write down rules for which specific assets you will trade and more importantly why. For example trading FX is not in my trading plan so I go no where near trading them. You must write down your rules for setting stop losses. When will you switch to trailing stops? What will be your stop loss distance? Why? Most importantly you must accept losses as none of us have a crystal ball and the media are not always right so you cannot believe everything you read. None of us can predict the future. What we must try and do is ensure that there as many positive conditions in our favour based on the direction we are favouring for our trade. We must increase the odds and probability in our favour as much as possible. Even then there is no guarantee that we will succeed or profit but that is what we must try and do on every trade. You must have a plan on how you are going to enter and exit a trade. Without this you are merely speculating, gambling, betting, etc.
  12. Some more positive news being released via RNS by Vela today. Vela Technologies Update re. Vibe Group Holdings Limited https://www.investegate.co.uk/vela-technologies--vela-/rns/update-re--vibe-group-holdings-limited/201907111201132545F/
  13. Latest news released this morning by RNS: Coinsilium Group Limited Strategic Advisory Agreement https://www.investegate.co.uk/coinsilium-group-limited--coin-/eqs/strategic-advisory-agreement/20190711070001EMRTP/
  14. @Excel09, There is no real right or wrong strategy. Each strategy will be better suited to certain individuals over others. When someone asks me something on the IG Community I tend to answer based on my own trading philosophy. Others on IG Community take it as if I am trying to sell Trend Following to everyone or trying to force my views on everyone and that simply is not the case. I live and breathe by my trading philosophy and therefore when I comment and post on IG Community then more times than not it will be from a trend following perspective. Then it is for others to offer different answers based on their own trading philosophy, Trend following is not perfect and it has its flaws. You can end up entering trades based on signals and indicators which the counter reverse quickly and sharply and you are sitting on a small loss because your stop loss has been triggered. This happens pretty frequently. That is why trend following is not for those who cannot accept lots of small losses frequently. It required a lot of discipline but the aim is to ride the biggest trends and they will pay for the lots of small losses. Bitcoin Trend Following since the start of the year is a great example as is Litecoin and then Bitcoin Cash.
  15. @MYK1, Here is the link you messaged me about. https://www.fx-arabia.com/vb/uploaded/3212_11399310873.pdf 👍
  16. @MYK1, I would say currently but any asset that has been trending strongly from the start of 2019 to now.
  17. @MYK1, I cannot speak for others but only comment based on myself. I conducted plenty of reading and research before I even traded a penny. My trading philosophy used trend following principles. I make losses as there are many times when there are false breakouts and my signals and indicators have been met for the trade to still go against me and my stop loss triggers and I make a small loss. This happens quite often but I accept it as part of my trading environment. My trading plan is built upon the premise to catch those big winners regardless of asset when they come. Most trading strategies will incur losses. In fact I am not aware of any that do not. In my opinion what you need to do is have a think about how you want to trade. Which trading style you would like to adopt, which assets you would like to trade and why? What are your aims and goals? Are they realistic and achievable based on your ability? How are you going to trade these assets and why? Put these down on paper. Start testing different strategies to see which suits your personality and risk tolerance better. Which are you able to execute based on your ability and understanding? Trading is not easy. In fact it is extremely difficult. Trading without a plan is a plan to fail in trading.
  18. @dmedin, Yes I agree. One must learn to ignore 'Market Noise' but have the ability to absorb the news that is true, relevant and important. It sounds easy but it is not always the case.
  19. @Excel09, Yes I do both o ‘long’ and ‘short’ depending on the direction of the trend.
  20. @MYK1, I do not see India stock markets tumbling or crashing down too far. Yes it may be a deep correction but with a longer term view I see the Indian stock market making new highs as it attracts more investors around the world who think they are getting better value than before this correction. Price action will tell us if my assumption will be correct or not. I do not disagree with your post. The simple answer is that I cannot know for sure that it was those reasons why caused the price to decline as other major equities across the world have declined so it could have been a case of Risk Off rather than Risk On. Even if you are correct then these will merely be short term movements. The key psychological price point that I do not want to see India 50 hit is below 10000. That would be bad news if that were to happen. It must defend that price level at all costs.
  21. Smith and Williamson's Artificial Intelligence fund as shown some impressive performance since January 2019 to date. The link below will highlight this point. https://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/s/smith-and-williamson-artificial-intelligence-z-accumulation/charts Disclaimer: I am investing in this fund.
  22. @MYK1 and @Excel09, You may find this of interest.
  23. This is a fascinating piece in the Financial Times that may interest some of you looking at these investment themes. Internet of things sparks race to replace the battery https://www.ft.com/content/3ba7fc12-8205-11e9-a7f0-77d3101896ec
  24. If you look at the chart a couple of weeks ago and now look at today's 'daily' chart then you can see that some positive price action and trend forming.
  25. Well Bitcoin Cash was unable to defend the important $400 level. This could mean some short term pain for Bitcoin Cash before any upward resuming of the trend.
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