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TrendFollower

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Everything posted by TrendFollower

  1. I do not use EToro mirror trading and never have but am aware they offer it. Mirror trading is not something that I am interested in but they aggressively marketed this for Cryptocurrencies a while back. I I agree with a lot of the comments from @PandaFace. There is nothing like trading in a live account with real money. Trading is very difficult and learning to cope with and accept losses is an area where a lot of traders struggle and eventually give up after losing a lot of money. There is no substitute for hard work and following markets and price action carefully. Using fundamental analysis and linking it to technical analysis to really understand what’s happening is crucial to any trading strategy adopted.
  2. @dmedin, eToro offer Mirror Trading opportunities.
  3. @dmedin, I cannot speak for others but I am not a full time trader. I am an investor first and foremost. I only trade if I identify a strong trending opportunity. Otherwise I am on the sidelines monitoring prices. So this may mean a few trades a month or even no trades a month depending on if the trends identified meet certain indicators / signals. There are traders who trade full time and are successful. The traders I know have one thing in common. They are very good at Mathematics. They have a superb Mathematical brain and can apply this to their trading models. Now that does necessarily mean one must have to be exceptional at Mathematics to succeed and be profitable in trading. It is just that those traders I know who are full time and successful happen to be exceptional at Mathematics.
  4. This is an interesting article which I want to share with those interested on the IG Community. Generation Bitcoin: 90% of Millennials Prefer Crypto to Gold: ETF Expert https://www.ccn.com/generation-bitcoin-90-of-millennials-prefer-crypto-to-gold-etf-expert
  5. What is interesting with Gold is that fundamentally the stage is set for Gold to motor upwards but technically the price action is not in line with the fundamentals. So the question is why? The US Dollar is one of the main reasons. Another could be that the demand needed is not there as capital is being allocated to other assets with Bonds being a potential benefactor, Equities being another and Cryptocurrencies being injected with more and more capital. What worries me about Gold is that if it is a the go to 'Save Haven' then why is capital not flowing into Gold and why is the Gold price not shooting up? It is being reported that the SPDR Gold ETF has experienced its largest outflow since 2016, with an outflow exceeding $926 million in the first week of May alone. Why is this? Now it could be that Gold is due a monster move which is coming in the weeks and months going forwards and what we are witnessing is a period of quite before the fireworks. I do not know but Gold is not reacting like textbooks suggest it should.
  6. Rough Rice went up 246 points today and was up around 2.18%. There is a clear breakout. Trend identification is key. I do not know if this trend will get stronger or manifest itself into one hell of a 'Long' trade but identifying key trends to monitor is crucial to a trading strategy. This could lead to a potentially profitable trade. It does not matter which asset you are trading. The important point is that it is trending strongly and that you identify it as early as possible. If one can utilise leverage to take advantage of points per £ and the directional move is in your favour then it is about maximising potential profits against risk. I include the latest chart below. Rough Rice is trading above its 20, 50, 100 and 200 DMA. This is a bullish indicator signalling a 'Long' trade. The volume (green bars) supports the price action and strong recent move upwards. This is another strong signal. I include the chart below to illustrate this point. The Parabolic SAR is also showing the price above the green dots which is yet another bullish indicator. I include the chart below to show this point. Momentum is another key factor and this also shows in the favour of Rough Rice and I include the chart below to show this. Now all the above things can be used in your 'trading basket' to aid you in making an effective as possible trading decision. Using the above will not guarantee that your trade will be both successful or profitable. What it can do is allow you an opportunity to trade with the trend rather than against it and increase the odds and probability in your favour. You will notice that I have not included anything too technical or complex above. These are all indicators available on IG's platform. Your trading style can be as simple as you want it. Trading does not need to be complex or difficult that very few can understand.
  7. @johnt4917 and @nit2wynit, I think @dmedin makes a valid point. There are enough good books out there in relation to trading that means if time, effort and dedication are applied then a lot of knowledge can be acquired. As they say 'Knowledge is Power'. Experience will only come with actual trading but one needs to acquire knowledge first and this can only come initially with reading and research. If one can network with real people who are traders then this can add significant value. When I mean network then I do not mean someone on the IG Community but real people in front of you. The reason why I say that is that no one on the IG Community knows the other so no one really knows if anyone is successful or profitable. Anyone can post including myself on IG Community but that does not make us experts or successful and profitable traders. One must be careful as just following anyone on IG Community (and I include myself in that) presents a risk, especially if those who you are following are just telling you something they have read on the internet and rehashing it back on the IG Community as their own analysis. In my personal opinion, a very successful trader, who is very profitable, would not be spending many hours on the IG Community. We all only have 24 hours no matter how successful or unsuccessful we are. Can a trader who is really that good justify spending a long time on IG Community? So the inference one can make is that I am not a very successful trader who is very profitable! LOL. 😂 I do spend quite a bit of time on the IG Community and maybe I could better spend that time really improving and fine tuning my trading activities.
  8. The US Treasury Bond is up 168 points and 1.13%. The US Ultra Treasury Bond is up 259 points and 1.55%. They are the stand out performers today but Bonds in general have been in the blue and performed well today.
  9. @nit2wynit, @dmedin makes an important point. Those who trade with very deep pockets have an advantage. They can set a more distant stop loss and absorb trades for longer which go against them compared to a trader who has very little capital. This is a very real and a very important issue for you going forwards.
  10. Gold is trading at $1284 and seems like my gut feeling / instincts were right. When you follow the price action, you end up living and breathing the asset which can help with trading decisions. It still does not guarantee success but being in tune with the asset is a vital ingredient when trading.
  11. @nit2wynit, There are many times when the days trend is different to the longer term trend and so it is very difficult with certainty for that day whether the trend is going up or down especially if you place a trade early in the morning. No one knows with any certainty how the trend will manifest itself as the minutes and hours pass. Day trading is very difficult and so I would still advise executing small trades and really test your strategy first with smallest amount possible on margin before placing larger trades and before risking more capital. Try and find the most liquid shares on say the FTSE 100 with high volume and really test your trading with small trades.
  12. @nit2wynit, I would not advise going all in on margin. Learn to make lots of small profits and build your experience and confidence first. Devise a trading system which can work for you. This may take a bit of time but you will appreciate it in the longer term. The big risk you have is blowing your capital and your trading account. Have you thought about risk management and how you are going to set your stop losses to minimise your risk on each trade? I would only suggest allocating a certain part of your available trading capital for the day to any one trade, at least initially until you can confidently and successfully make more profits than losses on a consistent basis. No problem and all the best.
  13. Gold seems to be trying to reverse its recent bearishness. It is trading currently at $1277 and seems to have found support around the $1270 level as I have discussed in my previous posts. Now I have not done anything to clever here. All I have done is follow the price action on a daily basis. When you do this and look at it via the charts then it is not difficult to find price points which offer support to the Gold price. This is particularly important to shorter term swing traders. Gold itself is still in a downtrend but there could be short term relief where the price tries to go up with UK political instability, Brexit and US-China trade issues. The US Dollar will be critical to all this. So there is the potential for a short term 'Long' Gold trade but like I say the current downtrend since middle of February 2019 is still in play at the moment.
  14. @Caseynotes, I am trying to keep the peace. Why can you not leave it. Please do not reply and just refrain from insulting me. It is a form of bullying which I do not wish to partake in. Just stop and do not reply to this post. I SHALL NOT BE REPSONDING TO ANY OF YOUR POSTS AND SO PLEASE DO NOT INCLUDE ME IN THEM.
  15. @nit2wynit, Thank you for your detailed explanation which certainly helps put things into relevant perspective. If it is stocks you want to day trade then have you considered large caps? You could consider using the leverage available to make profits on small movements on such large caps. This could be something which you could look into. Whether it is UK large caps, US large caps or others is up to you. Which ever you choose, try and study their price action on a daily basis and work out how much you could make each day based on your budget? How much price movement would you require to hit your targets? How much leverage would you have to utilise? How would you set your stop loss should the direction of trade go against you? This is just a thought. I am not suggesting that you should follow me blindly and as always you must conduct your own research but it is just a thought.
  16. @Caseynotes, Can we please agree to avoid commenting on each others posts and just keep the peace as others have suggested. They are absolutely right. There is no need for this. You post what you want to and I shall post what I want to and lets just avoid commenting on each others post. If you do not agree to this then you are helping to make things worse rather than trying to improve things. Both of our time is better spent improving the experience on IG Community. Let us use our energy in a positive way rather than bring negativity to the IG Community. We both have been on here many years, started many threads and posted many posts. We have received many likes. Let us keep our high standard and not get involved in belittling each other. There is no right answer or trading system that suits all. Let us accept that our views, trading style and methodologies are different and even if you cannot respect my trading style then do not judge on a few trading suggestions and potential ideas as you simply know nothing about me and my background. All the best, no hard feelings and let us agree to not comment on each others posts. Om Shanti Shanti Shanti 🙏
  17. @Caseynotes, Again you side step and deflect rather than answering a question. Spending years developing a system means nothing. It does not mean you are successful or profitable. If I cannot trade then I have certainly seen nothing from you to suggest you can either. Yes I admit that I keep my trading system to myself as maybe there is a bit of selfishness in me. Also in my system it does incur losses and losing trades. My aim to make sure my winners make greater profits than my losing trades even though there are times and years when my number of losses are higher than my number of winners. It is the total profit at the end of it which is important to me. I accept that is not for everyone which is fine. What an excuse, if everybody applied your system then it would cease to work! LOL we could all say that. You suggest I am pretending! If you were genuinely that good a trader then you would not spend so much time on IG Community posting posts after posts. You would be spending your millions or billions on a private island. Or maybe you could sell your trading system for lots of money to hedge funds or institutions? You always deflect back to me with the sole aim of belittling me. For the record, I am not an expert trader but then again what evidence is there that you are any better, more profitable or successful than me? Who is losing money following my advice? First of all I have only ever made potential trading suggestions and shared ideas. I have not forced anyone to follow my advice. It is up to them to make an informed decision. You have no evidence. Also losses are part of trading and sometimes you make a trading decision and make a loss. At least I share trading ideas even if they end up being a losing trade. You are too scared to even do so. When will you understand that when any of us place a trade there is always the potential for making a loss. One should embrace losses and learn from them. You are behaving as if it is a crime making losses. It is part of trading but obviously you do not make losses because you most probably do not trade. Can we just avoid each other? Life is too short. When I agree with you I do actually acknowledge and credit you in my posts and I did so earlier this week but for you I think you get a satisfaction out of belittling me. If we both avoid commenting on each other’s post then we both will be a lot happier and can carrying on sharing and discussing on the IG Community which hopefully others can benefit from.
  18. @Caseynotes, There you are again. You just cannot leave me alone. I have no secret strategy and I follow trend following principles which you all can see on the internet. Yes I tweak them to follow my personality and mindset. I also adapt them to suit my risk tolerance and objectives. I trade mainly Commodities and Cryptocurrencies but will trade indices and shares if the opportunities are identified. I tend to invest more in shares than trade them. Anyway you are the Super Contributor that has the most points and the mosts posts. Why don't you tell everyone on the IG Community as you have traded FX in the past and are possibly trading FX currently. That is what the question is in relation to. You replied to John first and totally sidestepped his question and just side-tracked him into information mode which you are the master of doing. I have to hold my hands up. You can give information all day and all night. What is your excuse as you trade FX or have traded FX in the past. Also the initial question was anyone successful. You have already decided that I am not successful and I do not know what I am writing about so I would not apply to this. 😂😁 However, you the all mighty surely must be successful so go on share you successful and profitable trading strategy on FX with John and the IG Community. I know and everyone else knows on IG Community that you are not going to share this because as soon as you do there will be some who will try and apply it to FX trading and if it is not successful and profitable then that is your credibility gone out of the window. Then you can phone a friend in 'Crypto Cred' or ask the audience that reads your material for advice. 🤣
  19. Blockchain Is a Technology for Collaboration https://knowledge.insead.edu/blog/insead-blog/blockchain-is-a-technology-for-collaboration-11606
  20. This is an interesting article which may be of interest to some of you. Why Bosch is jumping on the Ethereum blockchain https://decryptmedia.com/7135/why-bosch-ethereum-blockchain-iot
  21. Litecoin is holding firm around the $90 area for now. It is really struggling to break through and stay above that psychological $100 level. To put things in perspective, Litecoin, has enjoyed stellar returns in 2019 but I think there is more potentially to come. A lot of people are talking about the supply of Bitcoin halving. Well Litecoin has a similar situation but in the next few months which is why I think Litecoin could have another big rally in it. This halving even will decrease block rewards by 50% from 25 LTC to 12.5 LTC. I think so many are focussing on Bitcoin that they are ignoring the fact that Litecoin's halving event is imminent. Once the market and traders cotton on to this then I can see Litecoin smashing through the $100 area and pushing upwards on another big move. If memory serves me correct then this will happen at the beginning of August 2019 so very soon. The question right now is whether Litecoin is in a consolidation phase? I know different traders will have a different view on this depending on what time frame they are looking at. Now looking at the moving averages you will see they seem well aligned. So the 200 DMA at the bottom and then going upwards followed by the 100 DMA, 50 DMA and finally the more nearest to the price the 20 DMA. I include the chart below to highlight this point. Now sometimes traders can make things more complex and technical than they need to be. I always believe in keeping trading as simple as possible. The chart above is bullish. The price is above all of the moving averages. Higher Highs and Higher Lows are being formed. It is part of an asset class which is in a bullish phase at the moment. There is interest and momentum. In my experience of trading Cryptocurrencies when traders take profits too early they miss out on an explosive piece of price action and then find it difficult to get back in or convince themselves that they are too late. Whilst they are contemplating days of spectacular gains pass by. If traders are in big profits on Litecoin then sometimes (not always of course) it can be prudent to do nothing and just hold your position and pay the overnight charges. I accept this goes against conventional trading wisdom but when it comes to Cryptocurrencies which have been on a bullish run, it has paid off for me. If the trend has not reversed then why sell?
  22. @johnt4917, I would be surprised if anyone shared their trading strategy with you on IG Community. I do not trade FX so I am afraid I cannot assist you. There are many that claim to trade FX or give the impression that they may with the amount of knowledge they supposedly have. They will write very technical posts, post charts, write very intelligent and complex posts but I doubt they will share their FX trading strategy with you or anyone on the IG Community. I think one of the reasons could be that then they could be judged on how good or bad they are. Others could adopt their strategy and if it made them more losses than profits, their credibility would be seriously questioned. Another factor could be that they are greedy and selfish or just simply they are not very profitable hence do not want to share. It does not matter as many including myself may well fall into one of these categories so I do not have a problem with it but I just thought I would articulate this so that you so not get your hopes and wait for too long! Best of luck with your question and I hope you get an answer that can help you and show you and others on IG Community if posters really do have credible and effective trading strategies for FX that is constantly profitable but I am not holding my breath for any kindness or sharing on this specific matter.
  23. @draa46, Yes, there was another bounce off the $31500 level. It seems there is a little bit of support there but whether it can hold I do not know. Softwood lumber sales slow to a trickle as prices flounder https://www.woodbusiness.ca/softwood-lumber-sales-slow-to-a-trickle-as-prices-flounder/ The price reacts and behaves for a reason. Once a trader understands the reason then it can help them make a decision on whether to enter a trade 'Long', 'Short' or stay on the sidelines and monitor the price action.
  24. @nit2wynit, I do not know if you have left your job or whether you have lost your job but to day trade and make a living is extremely difficult. To make enough to live a life of luxury is even more difficult. I have a full time job. I am an investor. Trading is just something I enjoy and partake in should the right opportunities present themselves. If not then I do not trade. Simple. I do not rely on any profits from trading in my life. I would always suggest learning the trade whilst in work and earning an income. Once you have tested and satisfied yourself only then stop working and attempt trading full time. I would even suggest working full time and trading part time or even less than part time to see how much you can make before trying full time day trading. I would have done all the research, reading, learning, etc. whilst earning an income and in work but I suppose it is your personal choice as I do not know your financial circumstances. You may have enough to live on without having to worry. TrendFollower Tip: Research which are the strongest trending assets in say since the start of 2019. Try and find out why they are the strongest trending assets. Think about how you would have traded them had you started day trading them since the start of the year to now. Do not get fixated by just stocks unless you can successfully identify the strongest trending ones. So for example which were the top three or top five best performing assets from 1st January 2019 to 22nd May 2019? Would you have been able to trade these daily and made a profit more times than not? This may help broaden your mind and widen your horizon. For example it is possible that the US indices since the start of the year have outperformed any stocks you have been looking at based on percentage returns or points / profits using leverage.
  25. @nit2wynit, I have on occasions day traded. For example when my short trade on the S&P 500 failed and the trend went against my position, I decided to day trade US indices. I have also day traded Bitcoin and Crypto’s around two years ago. So I am not against say trading and there are times when I partake when I think the risk is too great in holding overnight as it may be a speculative move or a bubble scenario.
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