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TrendFollower

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Everything posted by TrendFollower

  1. Jack, Stop using who? I don't quite understand your question. I still am currently using Hargreaves Lansdown and Equiniti Selftrade. I use IG for spread betting on Crypto's and Commodities mainly. I use spread betting due to the leverage available to help maximise on winning positions and the tax benefits as well.
  2. https://www.coindesk.com/two-companies-sign-test-ripples-xrp-xrapid-pilots/
  3. Both precious metals and base metals seem to be doing well recently. Gold and Silver and performing well. Nickel and Zinc are too. It is worth keeping an eye on these.
  4. Jack, I use Hargreaves Lansdown and Equiniti Selftrade as brokers for my shares, ETF's, ETN's, etc. Hargreaves actually offer an excellent choice and pretty good service from my experience.
  5. James, 20 MA has been breached. This could be a sign of weakness but it is worth keeping an eye on.
  6. Oats are in a strong rally. Oats supplies are tight in Canada. Demand is increasing for high fiber containing food products which have promoted the growth of oats on a global platform. This is driven in a major way by the demand directed from the functional foods market. Rising health concerns among people who are health conscious have prompted the high growth rate of oats in the global market. Also rising consumption of oats to reduce excess body fat has also been identified to be one of the major drivers to this market. Now that $2.70 has been broken I think Oats will try and target that magical round number in $3.00. Also the US dollar declining is certainly helping. At the time of writing, Oats was $2.77. There is absolutely no reason to short Oat right now so I can see further appreciation in the price. This is only my personal opinion but within this post is a potential trade idea for those who can spot it.
  7. TrendFollower

    Oats

    The trend is strong! If you look at the 20, 50 and 100 day 'moving averages'.
  8. Ripple is at a very interesting point. From one perspective you must remember that it has had extremely large gains throughout 2017 and especially near the end. Reported returns are around 38,000% which is insane. If anyone was good enough then they would have traded this with lots of leverage and made a fortune. With leverage the returns could have been far more than the reported 38,000%. From a different perspective, this could mean ongoing corrections as the valuation had raced far too ahead to insane levels. This may mean that there is the potential to short Ripple. The problem is that the 'Crypto Universe' is so mad that you have to put logic and historical chart patterns to one side. Ripple could easily try and go for its all time high of around $3.36 levels. All it would take is some positive news and traders could experience 20% and 30% per day increases here and there. IG were far too late to the party as usual. I am witnessing exactly the same mistake on Stellar which is 'ridiculous'. I would love to spread bet with leverage Stellar via IG's platform but I am unable to do so. When a new crypto becomes available on IG that means it is time to short! Litecoin and Ripple are good examples of this. Stellar has some real momentum which is great for those who want to trade it.
  9. I have a feeling that another move upwards is coming in the short term at least based on current price action. It could be the move that attempts $1.67 level. Anything below $1.13 and it could try and attempt the recent low.
  10. At the time of writing, I would be looking for Ripple to break the $1.67 area. If it did then a long position could be considered. I am watching carefully!
  11. I am no fan of Gold but I cannot ignore price action and trends. This is why!
  12. This chart nicely sums up how Sugar has gone! An excellent opportunity to make money (shorting) when the market for Sugar is trending down.
  13. Interesting. So you think the target is 8840 based on historical charts. Lets see. You have some interesting ingredients being mixed into the pot. There is the IMF growth outlook. Russia and other OPEC countries are continuing the supply cut agreement which is due to run until the end of 2018. This could potentially see the price rise all of 2018. Then you have Venezuela's output declining which was far short of expectations. The average has been raised to $60.00 for Brent by Barclays. One of the largest oil focussed Hedge Funds (BBL Commodities LP) sees Brent at $80.00 on OPEC cuts. The chart looks fantastic!
  14. The 4 hour chart is interesting for Gold and Silver. Gold is looking like it is getting ready for its next leg up. Silver seems to be finding it more difficult to get ready. In a bull market, Silver, has behaved like Gold on steroids in relation to positive price action. It will be interesting to see how the price action of Silver reacts to Gold in the coming days and weeks.
  15. Heading towards 3260. The dynamics for Natural Gas are fascinating. I used to trade Natural Gas well over 10 years ago. It was an extremely volatile commodity back then. Mind you it still is! You have the US buying Natural Gas from Russia. Prices for Alberta Natural Gas has increased by around 72%. There are pipeline issues in Canada. The EIA storage report shows natural gas in underground storage to be near 5-year lows, which is a bullish factor. The are potential weather risks with predictions of arctic blasts in February to come. There could also be short covering occurring. Natural Gas is getting very interesting.
  16. This article kindly highlights why I am so keen on IG offering its clients Stellar to trade a.s.a.p. so that we all have the opportunity to make potential big gains in 2018 rather than at the end such as Ripple which has lost a lot of its 38000% gains. https://www.stellar.org/blog/Q1-2018-stellar-and-state-of-crypto/
  17. I agree with most of PIA_First_SO. One must have a trading plan and a clear strategy. Discipline is a must as well as patience. Sometimes the best decision is to do nothing and wait for the right opportunity. Speaking of poker, I am a fan of Texas Hold Em Up. Successful poker players demonstrate a good understanding of strategy, probability, and psychology. One of the things that poker and trading have in common is that both require making optimal decisions based on incomplete information. There is a similarity with money management which is crucial to managing risks. You have to take into account luck / variance factor. Psychological patterns such as emotional decisions compared to rational decisions. There is a lot of material on the similarities between poker and trading. Both if done without proper education can be classed as gambling!
  18. Backtesting will not tell a trader what is going to happen in the future. It is historical. It can help highlight past patterns and trends. This may influence a traders decision but it simply cannot be an effective way of predicting future movements. Only a 'crystal ball' can do that! However, for those statisticians, if you look at a longer time period then there may be certain trends and patterns that occur during certain times, events, etc. These could be used to make a decision on 'likely outcome' of trade based on historical movements. These could help increase the odds and balance of probability that a trade may succeed but there is simply no guarantee. It is merely one method a trader could use. I do not backtest at all. If I am interested in a particular trade then I will place a very small trade to see how it plays out based on my assumptions. Assumption testing is more valuable. Some will call this 'Live Testing'. I did this recently on Ripple. My stop loss was triggered and I exited the position with a small profit. Now I learnt that there is clearly a trend reversal in play and the historical charts over the past few days and weeks support this. I had a made an assumption that Ripple would blast back up. My live testing helped me to confirm that my assumption was wrong. This is fine and is all part of learning with experience. This is more valuable than backtesting as it is telling you what is happening now rather than what has happened in the past. If you are going to place a trade to profit in the future and you could only pick one of these options then I would rather have information on current price behaviour than the past. However there is no reason why you cannot use both historical and current price behaviour. You just need to understand why you are using it and how it will benefit you when trying to make a decision on when to trade. That is unless you have an 'Algorithmic Black Box'!
  19. I would just like to throw this trading idea out there. I have been observing the price action of all six cryptocurrencies that IG offers since 8:00 am on Saturday morning to now (Sunday 8:00 pm) bar a few hours sleep. They have all been volatile and I can easily see new or inexperienced traders getting stopped out very quickly and easily. This is a ruthless market. It is most probability the highest risk market to trade right now. I say this as someone who trades / invests in high risk capital growth shares such as micro and nano caps. There are different ways to skin a cat! Swing trading can be a highly effective strategy when dealing with extremely volatile markets. One should embrace volatility. Combine that with liquidity and you have some key ingredients to make healthy profits in a short time scale. Buy low and sell high during such swings in price and make sure you know your entry and exit price in advance of the trade. I accept it is not for everyone but I am just merely suggesting this as a possible way to trade cryptocurrencies. For me volatility increases the chances to make profits quickly. At the same time volatility increases risk. For me those traders who are successful have a common trait. They all want to maximise profitability and that is one of their main aims. This strategy could give traders the potential for quick profits. The key here is risk management and ensure that losses are as small as possible and taken quickly. This is just an idea and I am not suggesting that this is the best idea or way to trade cryptocurrencies. If traders get this wrong then they could be making lots of losses during such extreme volatility which is why a specific trading plan is required where your entry and exit points are clearly defined. Must stick to these rules as otherwise it could get very ugly indeed.
  20. I am not sure what you mean? The minimum is 0.25 per point on Bitcoin with a margin of around £849.81 at the time of writing.
  21. There is a criteria that has to be met before you could deem yourself suitable for an IG Professional account.
  22. So you are suggesting a short trade on 'Geppy' this week. I don't trade FX but is the intraday bias not bullish as long as support around the 153.00 level holds? Looking at the charts the pair has broken double top which formed at around the 153.00 level so would this not confirm minor bullishness? If this is true then would you not wait for confirmation of the price going below 150.00 level before even considering initiating a short trade? Like I stated, I do not trade FX, but that would be my view. Also you need to bear in mind that your audience may not be experienced or even have some of the knowledge required to understand your analysis. What about newbies? How would they appreciate your trade suggestion for the coming week? I will keep an eye on GBP / JPY to see how the price behaves in this coming week. I am intrigued as I would not necessarily initiate a short trade based on current price action. However, you may be right so I may learn something here. Let's see what happens.
  23. James, I think when IG finally separates FX from Cryptocurrency then the new section should be called Cryptocurrencies & Blockchain. As blockchain develops, it will lead the way to better, more efficient and effective cryptocurrencies in the future. They both operate within the same arena though they are both different from an investment perspective.
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