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TrendFollower

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Everything posted by TrendFollower

  1. I have just been reading this thread and would like to make the following points: Lower commission charges / lower costs does not mean a better level of product offering or service If IG is behind its competitors in relation to dividend reinvestment and by some time distance and are providing no definitive timescale as to when they may provide such a service then what message does it give you about using IG for long term investing? Just out of interest, if I personally was going to choose a broker for my long term investing part of my portfolio then IG would not be one of the main brokers I would consider. For trading it is different but what were the main points apart from costs / charges that led you to choosing IG ahead of others for long term investing? One assumes you are investing in shares that pay dividends so some of you may be investing long term and want to reinvest your dividends to build up a solid and sound income portfolio. Therefore choosing a broker / platform that satisfies your needs is vital. There is so much choice and competition out there in the market, I just wonder how one made the decision to use IG for their long term investing portfolio? I think I mentioned it in another post so apologies for repeating but I personally use Fidelity for my long term investing in funds. I use Equiniti (Selftrade) for investing in ETF's and ETN's. I use Hargreaves Lansdown for investing in individual shares. So for my long term investing part of my investment portfolio I use three different brokers. I use Fidelity for funds because they have a 'Fund Supermarket' and offer a choice of thousands. HL offer a superb choice of individual shares. This also allows me not to have all my eggs in one basket in case any of the firms were to go bust. It also avoids the capital protection dilemma.
  2. I just came across this article which I think is rather interesting. World Economic Forum Sees Blockchain As A Solution To Environmental Issues https://www.investinblockchain.com/world-economic-forum-blockchain-solve-environmental-issues/
  3. @Clem, A very good question. I am looking forward to reading how the previous day's performance for US markets can help indicate the future price behaviour of Asian markets such as Nikkei 225! 🤔 If this is possible and there are any proven patterns and trends then IG Community would be an excellent place to share. 😀
  4. @Exhale_Trading, yes well stated. Could not agree with you more.
  5. I thought this article was very good at comparing both Ripple and Stellar. Ripple (XRP) vs Stellar Lumens (XLM) https://www.finder.com/uk/ripple-vs-stellar-lumens
  6. @rachelbarnes, I personally only use IG for spread betting Commodities and Cryptocurrencies. My funds are held with Fidelity. My shares are held with Hargreaves Lansdown. My ETF's and ETN's are held with Equiniti (formerly Selftrade). I keep them all separate as I simply do not want all my capital with one institution. Also the capital protection plays a part in this decision making too. On top of this different brokers specialise in different things. So Fidelity are weak when it comes to shares, ETF's and ETN's. IG are better at offering CFD's and Spreadbetting and so on. Your decision will be a personal one. An important factor will be what asset you intend to invest in. So if you are looking at investing in equities will it be via funds, investment trusts or individual shares? Is your strategy to invest for capital growth or income? (This decision will be dependent on your age profile of course and risk tolerance). What services do get with different brokers and what the costs/charges.
  7. @rachelbarnes, My understanding is that during the times of Friday 10:00 pm to Saturday 4:00 am you will not be able to open a new position or close an existing position. If you do place an order or have any type of stop loss then it will be executed once the market re-opens based on prices on the open.
  8. Stellar is 4.4% and Ripple is up 5.5% at the time of writing this post. There seems to be a disconnect occurring between Stellar and Ripple compared to the other top market cap cryptocurrencies based on price action. I think if Ripple was to cross 58.00 and Stellar was to cross 28.00 then these two could become very interesting especially if trend followers and speculators decide to join the party. It could drive the price up for Ripple towards 100.00 and Stellar towards 50.00 in 2019. I thought this article which I have just come across is rather interesting. XRP and Stellar (XLM) Continue To Thrive Amidst Market Turmoil https://ethereumworldnews.com/xrp-and-stellar-xlm-thrive-amidst-market-turmoil/ In my opinion Stellar and Ripple are getting very interesting. Stellar is targeting the 'individual transactions' and Ripple are clearly targeting 'business transactions'. They both have different targets but if these can execute their strategies well then both their prices have upward potential. They seem to have the most momentum at this moment in time hence why their charts are looking more positive than Bitcoin, Ether, Litecoin and Bitcoin Cash.
  9. @daisy123, I would like to know the success rate of such 'trading robots' or otherwise known as 'automated trading systems' or 'algorithmic trading', etc. If we put Hedge Funds to one side and the top individual professional traders as well. What is the success rate and level of profitability for those individual traders that do not fit into Hedge Funds or professional trader status? One of the most important things in being a successful and profitable trader in my opinion is having a very good trading system with clear rules and having the discipline to follow those rules. Discipline is key. A lot of traders who do not want to spend the time researching, reading and putting the effort into improving their trading system and devising efficient rules end up paying for 'automated trading systems' thinking this will ensure they are consistently profitable. If only it were that easy. If it was then all traders would just simply purchase such systems or use 'free systems' and make profits on the majority of their trades. The amount of people I come across who simply do not have a trading plan. If one does not have a trading plan then one simply is unlikely to have devised trading rules for their trading system. A trading plan should be an evolving document which can be improved when necessary depending on circumstances and market conditions. The amount of traders I come across who do not have a trading plan is just simply staggering. Traders try to make up for their lack of skills with expensive software. I am not suggesting there is not a place for such software but it just by itself simply does not guarantee any success or profits. Something I am not ashamed or embarrassed to admit is that I try and keep my trading as simple as possible. I have stated on many occasions on posts within the IG Community that I tend to focus on 'price action' and 'volume'. Everything else is secondary. There are many technical indicators that one could use but if you trade the 'old fashioned' way and live and breath the asset you are trading then more times than not you will automatically be in tune with the 'fundamentals' of why the price is behaving the way it is. You will appreciate the narrative and understand the strength of not only the narrative but the trend too. This is my personal opinion is invaluable as you can identify trends earlier than the crowd and well before the herd.
  10. Stellar is up 7.64% at the time of writing. I have included the chart below. Ripple is up 1.85% at the time of writing and I also include the chart below. As you can see both charts look far more resilient since middle of September 2018 to date than the likes of Bitcoin, Ether, Litecoin and Bitcoin Cash. Also the trades on Ripple and Stellar seem more favourable in terms of margin requirements especially when taking leverage into account.
  11. I think Stellar is performing remarkably well in the latest crypto correction. I have attached the link below on the latest cryptocurrency market caps and as you can see Ripple has overtaken Ether and is now in 2nd place and Stellar is creeping upwards and is now in 5th place and is certainly trying to oust Bitcoin Cash which is in 4th place. Bitcoin Cash may have helped Stellar with the recent fork. https://coinmarketcap.com I think in terms of partnerships and real life use cases Ripple and Stellar are leading the way and their price action based on the current charts seems better than the likes of Bitcoin and Ether. Stellar and Ripple are my tips for 2019. I think they both could be the best performing cryptocurrencies within the next 12 months. This is only an assumption and it will be tested and proved either right or wrong based on the price action going forwards.
  12. @PandaFace, What I do not know yet is whether today's 4% move upwards in Natural Gas is the beginning of the next leg upwards (long trends can last a lot longer than one may think) or whether it is the beginning of the unwinding of the 'speculative froth' which will lead to stop losses triggering which will lead to trend followers shorting Natural Gas and along with way long trades closing? I would describe the trade you have describe as a pure speculative trade based on hope. There is nothing wrong with a speculative trade. I recently participated in two in Ripple and Stellar based on the price action taking them above 20, 50, 100 and 200 day moving averages and was fortunate to exit both on very small profits but in hindsight it was the wrong trade. However, you have entered a speculative long trade with the trend and price action against you. There is a saying that never trade against the trend. The odds and balance of probability are not in your favour. You may get lucky and you may even be fortunate to make a profit from this trade. I will be interested to see how you fare on this trade. Your best 'hope' and I hate using that word in trading as words like 'hope' and 'luck' are like swear words in trading, is that there is a strong counter trend movement / trend reversal that is in favour of your trade. None of us can predict what is going to happen going forwards so this is a very interesting trade to study. Keep posting your thoughts on the trade you have executed as this will be a very good trade to share with the IG Community and well done for sharing it. It does not matter if the trade goes against you or you make a loss. It is what we can all learn from it which is the most important thing and I commend you on that. Nice one. 👍
  13. @Caseynotes, A couple of things. First of all why have you recently got 'Test' underneath your name? What makes this website and company credible? One begs the question why they are being so generous by giving for free? Especially from around $125.00!
  14. Trailing stop triggered. Very small profit and out! I managed a slightly bigger (though still very small) profit on Stellar but hopefully that will put to bed my more speculative nature. ?
  15. I do wonder if US Crude will now try and go for the psychological $50.00 area. Those who use Fibonacci retracements may feel that Oil has further downside to go. 76.4 % Fibonacci retracement from the recent high takes us around the $50.48 area. In my personal opinion I think this could be enough for it to briefly pass through $50.00, it may not be for long but one thing is for sure, Oil has been a strong short during the past six weeks, that there is no doubt about. What staggers me is that not one person on the IG Community has responded to my previous post by stating they are shorting oil. What better profit potential opportunity has presented itself in this same time period? I openly admit that I have made a grave error in not allocating my capital efficiently on this occasion and I have learnt a harsh lesson. One that I do not wish to repeat going forwards.
  16. I do wonder if US Crude Oil will now challenge the psychological $50.00 area.
  17. The smart trade would have or could still be (may not be too late)... Long Natural Gas and Short either Brent or US Crude Oil If it was not for Cryptocurrencies then I would have traded the above. I think I have learnt a valuable lesson and that is that I should have traded this over Cryptocurrencies (not because I do not believe in Cryptocurrencies) but the profit making potential opportunity on this trade was far greater than on any of the Cryptocurrencies that are available to trade on IG's platform during the same time period. A very harsh lesson learnt by me on this occasion. Trade the strongest trends. I trade both Commodities and Cryptocurrencies and where as I managed to trade Orange Juice and Lumber which were exceptional trades and trends I have got distracted by the Crypto space which has meant my capital allocation has not been effective or as efficient as it could have been. I have made a grave error not trading the above in bold and we all have limited capital to trade so capital allocation is very important. The one thing I would say is that there could be a monster opportunity to go Short Natural Gas as there will be a lot of speculative capital in Natural Gas right now. There could also be a nice opportunity to go long on Oil should a trend reversal present itself. I may have to liquidate some profits from my long term share portfolio to enter such a trade should it materialise. I will stress that I am not suggesting going short on Natural Gas right now. The only trade right now is long as it makes new higher highs.
  18. The smart trade would have been and still could be (might not be too late)... Long Natural Gas and Short Oil (either Brent or US Crude)
  19. @Caseynotes, I totally agree algos, robotics and artificial intelligence are the future. Creating and devising such a system requires a big capital outlay. It requires hiring specialist programmers and an extremely sound trading strategy. Something really only the top hedge funds can afford. I really do like your idea about which pattern was statistically most probable from the signals centre. That would be an interesting experiment. Let me know how it goes.
  20. @202925, No problem. That is ok. You may be right it may well be range bound but I cannot predict the future so I do not know that for sure based on current and more recent price action. Yes, I could do as you suggest but I will not be. I want to stay in this position as long as I can. No time limits. I will exit when the trend reverses. Until then I will remain in the position. One of the key principles of trend following is not to take profits too early and to let your winners run. If my trade was incurring losses then I would like to cut these losses quickly and move on. So then I would be looking to exit as early as possible. With Cryptocurrencies there can be extreme volatility so setting initial stop losses is extremely challenging as the risk is being stopped out and then the trend resuming in its direction of travel.
  21. @Caseynotes, Call me 'old fashioned' but I prefer to monitor price action of assets I am interested in trading and this will naturally identity the signals to me for opening / closing a potential trade. This method is more hard work but it means you are 'living and breathing' the trade and are in tune with the price action. These signals can be construed as a 'lazy' way in which you are relying on others and if the correct research has not been conducted and no fundamental understanding on why the price is behaving as it is then it can be very dangerous trading using such signals. Also this method can provide signals which are false breakouts or cannot anticipate 'vicious trend reversals' and for me there is nothing like good old 'watching the tape', Jesse Livermore style! But thanks for your response. I have had a look but there are not many assets if any that are of interest to me. As you will know I am a Cryptocurrency and Commodities trader. I tend to stick to those two assets as I simply do not have the time or capital to trade everything where there is a potential trend identified and trading opportunity. With Commodities I do tend to use fundamental analysis which is where my trading style differs from a 'typical' trend follower. It has served me rather well during my trades in Orange Juice and Lumber. In my experience the stronger the narrative, the stronger the potential trend.
  22. @Caseynotes & @CBMG, I just had a look at that but I am not sure. Have a look at this links below. http://www.financial-spread-betting.com/IG-Index-Autochartist.html https://www.financemagnates.com/forex/brokers/ig-markets-launches-autochartist-chart-pattern-recognition-tool/ What are your views?
  23. @zala, A very good question. Please see the link below from IG on volume. https://www.ig.com/uk/glossary-trading-terms/volume-definition I think the following paragraph is key: "Each market or exchange will track its own volume and distribute the data to traders. These volume reports usually come once an hour, but they are only estimates – for accurate volume figures traders have to wait until the end of the day." My personal opinion is that it will be close but not anywhere near as close or accurate as the actual amount of underlying contracts traded in the futures market. This is my personal opinion so it will be interesting to see what others within the IG Community think.
  24. @CBMG, May I ask who told you this? I think what you are referring to is the 'pencil' symbol on the left of the three dots and 4th from left towards right. Well that is how it shows up on my screen so I appreciate it may be different depending on how you have customised your screen. If you click on this you will see options such as 'Fibonacci Extension' and 'Elliott Wave (ABC)'. You will also see other options such as 'Gann Line' and 'Head and Shoulders' amongst others. I am assuming this is what you mean and and referring to.
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