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TrendFollower

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Everything posted by TrendFollower

  1. @RichB-Trader, No problem. It is not the CFD or Spread Betting that is the main risk but the asset you are trading, the capital that your are allocating to your positions, market conditions, current trends, trading strategies and your personal trading psychology and mind-set. These are what make up the 'risk conditions'. CFD or Spread Betting is merely the instrument you are going to use to trade your chosen asset. Your risk management will be crucial. Are you going to set stop losses? If so then at what level? How are you going to determine entry position? How are you going to determine what asset to trade? Do you have a trading plan? What is the trading style you are going to adopt? How do you intend to execute your strategy in order to meet your trading objectives? These are just some of the things you may wish to consider before making your decision. Only you can make these decisions. It will require some time, hard work, research and discipline but will assist you in building a strong foundation for your future trading experiences.
  2. If one looks at today's price action for Orange Juice then it went up 58.1 points and 0.41%. I remember trading Orange Juice prior to the Hurricane Irma as the trend had already started well before the Irma hit Florida. This is different so far!
  3. @Ludwik Chodzko-Zajko IG, the US news channels referred Hurricane Michael as 'Monstrous'. I will be keeping an eye on the price action for Orange Juice in case there is a short term trading opportunity here. At the moment there is no reason to enter the trade as there is a clear downward trend bias. Now should this change then a possible long position could be initiated. Right now Orange Juice is trading below its 20, 50 and 100 day moving averages. I need this to change to at the very least begin trading above its 20 day moving average.
  4. @RichB-Trader, Spread betting is classified as gambling, which means people who spread bet don't pay tax on their profits. Media and publications refer to it as a form of online gambling. That is not what I am saying. It really does depend on how one uses it. I can see how many beginners or novice traders may end up using it as pure gambling. After all spread betting allows one to speculate on price movements. This in essence is a form of gambling. I think it is a good tool which one should have in their toolkit. If sound risk management is applied then it can be a very effective way of trading. Everyone will have their own personal views and thoughts about this. In the UK spread betting is regulated by the Financial Conduct Authority as a trading activity, rather than the Gambling Commission, clearly showing there may be more to financial spread betting than just pure gambling. I have heard many professional traders call it 'spread trading' rather than 'spread betting'. Maybe IG could look into the terminology. @JamesIG, what do you think? IG the first to offer 'Spread Trading'?
  5. If there is a bear market in equities around the world then capital could shift to Bitcoin. When I was monitoring Bitcoin's behaviour compared to Gold during the Trump and North Korea rhetorical warfare during those instances Bitcoin 'trumped' Gold. The same during the Middle East / Syrian issues, build up to Brexit referendum, etc. During a bear market which may already be in motion (in terms of starting) the riskiest assets will get hammered. To offer a balanced view, they do not come much riskier than Bitcoin. Therefore one would assume it will get absolutely annihilated. It may well go down to $5000 or even $2000 - $3000 but I cannot see lower than that. If it behaves like a safe haven during such times then it could easily surpass $10000. I have an open mind so lets see what happens. I am very intrigued with the price action of Bitcoin especially if there is a bear market in equities.
  6. @JamesIG, thanks for answering. I was just about to have a go and saw your response. @RichB-Trader, there will be pro's and con's for both CFD's and Spread Betting. You will have to decide which is best for your personal circumstances, personality, mindset and strategy. I think spread betting at times gets more negative publicity than CFD's by referring that it is more for gamblers. Spread betting can be an extremely tax efficient way to trade if proper risk management is in place.
  7. Sharescope is excellent and one of my favourites. Again as @PandaFace stated there is a price tag with this too. I have included the link below. https://www.sharescope.co.uk
  8. @1st4freedom, yes that is right. I too trade (spread bet) cryptos with a longer time frame. I have tried day trading cryptos in the past and there is money to be made but I just simply do not have the time to day trade. That's interesting using Bitfinex. How do you find it? I use IG too. IG's choice is poor and the charges annoying but the service is generally quite good. At this stage I do not want to physically acquire any cryptos until I am satisfied on any one of them in terms of being widely accepted and being able to physically use it to acquire goods and services around the world. What are the advantages of using say Bitfinex over say spread betting on IG for cryptos?
  9. There is no such website where you can find good bargain and value stocks! You could use screeners to identify such stocks but there is no guarantee that it will be a good investment. From you post I am a bit unclear on whether you are looking to value invest or trade these stocks? I would suggest devising a plan where you outline your clear objectives and how you intend to meet those objectives. State what your strategy will be and if it value investing then how you intend to execute your strategy to meet your objectives. Have you read 'The Intelligent Investor' by Benjamin Graham? If not then you may want to consider it. You could look at: Total debt to current asset ratios Current ratio (current assets divided by current liablities) Price to earnings per share - PE ratios Price to book value - P/BV ratios Companies paying dividends This hopefully will start you thinking but the more work you put in now and the more research you conduct yourself the better chance you will give yourself of building a strong foundation of knowledge to work from.
  10. Brazil 60 up over 3330 points at the time of writing which is over 4% for the day. It is getting very close to that 87.5 level.
  11. @RichB-Trader, not having to pay tax (capital gains and stamp duty) on profits from Spread Betting gives it a USP. Don't forget spread betting is not a concept that is available in all countries around the world. For example the US does not offer Spread Betting. A spread bet has fixed expiration dates when the bet is placed while CFD contracts have none.
  12. @Djelibaybi, it sounds like you want to use what will be the legend of tomorrow. Flash may need an arrow through it!
  13. @TOMASHIWA, yes quite right. If one wants to consider SuperDry as a value investment then one must have some sort of idea and reasoning to support the idea of what valuation SuperDry can achieve and in what timeframe. Where is SuperDry in the growth cycle? Or has SuperDry achieved the majority of its growth?
  14. @rimmy2000, yes it could well be along with a number of other factors together creating the amplified move downwards.
  15. @elle, yes I can see that and yes your suggestion could be possible.
  16. Bitcoin Gold is up nearly 7% at the time of writing. Personally I cannot see room for Bitcoin, Bitcoin Cash and Bitcoin Gold. At some stage there must be a battle and a winner must emerge. I don't know if technically this is even possible but could Bitcoin, Bitcoin Cash and Bitcoin Gold re-merge (re-fork) and become just Bitcoin and conquer the Cryptocurrency market? I understand the reasons for the forks but I just do not see room for the three of them. Surely, they would be stronger together to form one formidable Bitcoin than go their separate ways as they have too many similarities and not enough differences. This may not be technically possible but what do people think?
  17. @Situation, there is a downward bias in crypto's in general. The charts tell this very story pretty convincingly. There are murmurs that a bottom may be forming in Bitcoin with some healthy consolidation. The coming days and weeks will confirm this assumption. What we have seen recently and more historically is that crypto's tend to move together whether that be upwards or downwards. 2018 has seen downward pressure. Right now Ether's chart looks horrendous. Litecoin and Ripple's is not much better. One of the questions being asked is whether we are now seeing a bottom in cryptos? Only the price behaviour going forwards will give the answer to this question.
  18. @Mercury, I agree that Brexit should not have such a dramatic impact on the world arena. If the EU collapsed as it is then that would be totally different.
  19. Thanks @JamesIG. I have a 'gut' feeling that Bitcoin is getting ready for another monster move upwards once it has fully consolidated. I think either ETF approval from the US or India's regulation being more positive for Bitcoin could lead to such a move. If both happen then I think $10,000 will be exceeded for sure. It may only be brief but it will be exceeded. Let's see.
  20. @Mercury, thanks for your response. Let's see what happens going forwards and how exactly Gold and Silver's prices behave. It is this behaviour and the forthcoming price action to the build up of Brexit that will be very intriguing. A trader should welcome 'bubbles'. It is these very 'bubbles' that allow the opportunity to make great profits. There are a lot of people that made money on the 'Dot.Com' era and there is a lot of people who made money on Bitcoin's rise to $20k. Bubbles should not be feared. They should be embraced. If sound risk management is applied then such sharp price movements can be traded very profitably. If I had time then I would like to create some very simple and basic statistics on Bitcoin's price performance against Gold's during the same period say to start in 2019. If anyone else has time or would like to do such an experiment to share with the IG Community then it would be most welcome.
  21. @cryptotrader and @Caseynotes. For me Bitcoin moves on positive news released by the media and goes down on negative news released by the media. This news release will determine the next move for Bitcoin in my opinion. Bitcoin has had a quite a few big (large percentage drops) since its launch so this recent drop from $20k to $6k is not anything new. In fact the lows of Bitcoin after such massive drops is getting higher and higher. It was only around two years ago that Bitcoin was trading below $2000 so today's levels are way up from that. Also if Bitcoin went to zero then I think the world would lose confidence in the Cryptocurrency market so to keep it alive it needs Bitcoin to be successful. The market will find a way to not only keep Bitcoin alive but make its price go up. When will be dependant on news flow. If you look back historically at Bitcoin then it has moved on both positive and negative news. In my view the current consolidation is extremely healthy. Recently new higher lows are being formed so it looks like it is building a strong base and foundation to launch from! ? ☄️
  22. @Mercury, what made you go long from a technical perspective? I don't have positions in Gold or Silver at the moment but have traded them in the past during the infamous run in Gold during the financial crisis. I have been fortunate enough to identify better commodities with stronger trends than Gold. (My posts on the Commodities section will highlight these). Gold was a very good short trade (with leverage) from April 2018 onwards! If I was looking to go long Gold then I would want to see Gold hold above $1200 for starters. It is trying, I will give it that. But it so far has failed to consistently stay above it which is a bit worrying from a long trade perspective. I would want it to clear $1210 which was the most recent high around 28th August 2018. Only after this would I even consider a long position in Gold. The 100 day moving average is around $1222 so I would want to see this being hit too. It seems to be trading around the 20 and 50 day moving averages. For me the two key indicators are price and volume. Momentum is also important. I think for Gold it needs a strong reason to go up. On the last big move it had the financial crisis as a backdrop and fundamental reason. It may well have one soon with Brexit but I am not sure so sure. Remember Gordon Brown sold around 50% of UK's gold reserves. Would Brexit make a massive difference to the US and Asia? Would it really make a big difference to China, Japan, India, etc? I am thinking more in terms of the Gold price movement. I don't know the answer but I will be looking closely as I for one am about to learn if Gold is still the safe haven to go to or is there a new contender in Bitcoin (Digital Gold). There lies my interest in Gold at the moment. I want to see how its price behaves against the price of Bitcoin during the same period. This is my current view. It could change but there you go. I don't trade Gold or Silver currently but will be keeping an eye on both.
  23. @elle, why do you think the price dropped? What are your thoughts?
  24. @elle, I don't know the reasons why but it could be any of the following: Investors pre IPO exiting Investors post IPO exiting Some serious profit taking from retail institutions (because they simply have to for performance targets) Some serious profit taking from private investors Speculators exiting on any trend reversal Shorting Just basically more sellers than buyers at this moment Could the valuation have raced ahead too far without being able to justify it? Was it simply overvalued?
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