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TrendFollower

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Everything posted by TrendFollower

  1. Right now I have think the trends on the Cryptocurrencies that IG offer on its platform are downwards. There still remains a strong downward bias and the recent rally has not changed my view on that. I think what we have just witnessed is most likely a 'short covering rally'. I think we will continue to see downwards pressure and movement with the odd rally here and there. I think there will be another major leg downwards and I see Bitcoin hitting between $1k to $2k and this should be in my opinion the bottom of this huge retracement from the high. This move will 'weed out the rubbish' and then we should see the asset class really improve and kick on going forwards. I think this was necessary as there were too many companies built on 'hype' and 'thin air' set up and these needed to be removed from the eco-system.
  2. @Goldenbull, Though I do not really trade FX markets I will occasionally do so on the odd occasion here and there depending on any strong prevalent trend. I do follow the GBR/INR and USD/INR as well as GBP/USD and GBP/EUR. Now unfortunately 'Slippage' is something one has to factor in when trading on platforms like IG. Unfortunately it comes with the package so one must include this in their trading plan / trading strategy. For those readers on IG Community that do not understand 'Slippage' it is when a trader places an order but it is executed by IG at a less favourable rate. I have experienced this when using 'Stop Losses' with IG. 'Slippage' tends to occur more in my experience when markets are volatile and is not just confined to FX trading. The two key ingredients in 'Slippage' are Volatility and Execution Speeds. Sometimes when you need to get out of an order then it may be favourable to pay 'Slippage' but it is something one must seriously consider when putting together and testing their trading system.
  3. My Gold trade is up 26 points at time of posting. My Silver trade is up 32 points at time of posting.
  4. As you can see from my post above, I could see $15.00 coming. I stated as much on Monday and it is now Wednesday and Silver delivers above $15.00. Gold will now go for $1280. It will then go for $1290. If it hits $1300 then the new longs will enter, speculators will jump in and trend followers will add to their positions taking Gold even higher. Whilst the US Government shutdown continues the outlook will remain positive for Gold and Silver.
  5. @Exhale_Trading, yes Google Finance used to offer this but do not anymore. @igungho, You may want to consider the following (cannot guarantee that they will still work) for the US stock market. Yahoo Finance Alpha Vantage IEX Finam Stooq You may also want to consider the following for the US markets: NetFonds Duckascopy The above are all free options which I assumed you were asking about. You may also wish to consider the following: http://eoddata.com/Projects/Intraday.aspx http://www.kibot.com https://www.quantstart.com/articles/Downloading-Historical-Intraday-US-Equities-From-DTN-IQFeed-with-Python https://www.tickdata.com/equity-data/
  6. @mahaharx, I am pretty sure you cannot on IG UK. It is the normal Visa, MasterCard and PayPal. Visa and Mastercard on both Debit Cards and Credit Cards. Also bank transfer. Now you state you are from the Philippines but are you looking to open an account in the UK? Or are you looking at opening an account in the Philippines? @JamesIG, yet another example where my idea of having the country the trader has opened account from showing on the IG Community. Different questions will arise from different traders based in different jurisdictions around the world. Unless some of us ask the question it is not clear and therefore the chances increase of providing incorrect answers. For example it is possible that someone answers in relation to IG UK where as the question may have been for IG Philippines. I am starting to see this more and more.
  7. Guest Tech, Apologies but which new one under the blogs section? Are you able to provide more details please?
  8. @BrownAdder, Commodities are up and running at the time of this post.
  9. @xr89, In terms of patterns then it seems as if the Asian markets have followed the US's lead downwards. Donald Trump's trade war with China, the recent interest rate rise by the US Federal Reserve, major equity indices in the US hitting bear market territory, prolonged US bull market which was longest in history, overbought conditions, are all pointing towards the US stock market going downwards. The Asian markets seemed to have followed suit as in this time of multinationals trading with each other around the globe, the economies of countries are becoming more connected. There is a famous saying that, "If the US sneezes then the rest of the world catches a cold". I think on this occasion the US has sneezed and caught a cold but the rest of the world could catch the flu! This is without even considering what happens after Brexit! From an economics perspective, China's loss in the trade war with the US could lead to the gain for other countries. China's smaller Asian economic rivals like Thailand, Vietnam, Indonesia and Cambodia could enter the supply chains that traditionally Chinese companies were in. These countries are what I call 'Frontier Markets' and I invest in these markets with a long term view of capital growth. So @xr89, there may well be a pattern emerging but how credible and reliable is this or is it just simply down to chance? What you must do is obtain the data to support your assumption and provide evidence which validates your view. I have a feeling based on the last month of two that you may well find this data supporting your theory. This bear market may well go into January and possibly into February and March of 2019. I am not ruling this out. I will let the price action tell me the story going forwards. Trying to establish such patterns and trends are useful if you are going to trade the major US indices and the major Asian Indices otherwise what will you do once any pattern is established and confirmed? Are you shorting the US and Asian markets?
  10. @igungho, Which specific markets or stocks are you referring to? What period of time do you want the intraday historical data from? So for example fo you want it just for one day (intraday) or do you want it for say the past 10 days?
  11. I think Cryptocurrencies as an Asset Class has not only arrived but it is here to stay. My belief is that it is not going anywhere. What I find quite remarkable though I have no data or evidence to support this assumption at this moment is as follows: At a time when capital is leaving equities as shown by the price performance of indices around the world, Cryptocurrencies, begin rallying with double digit returns per day. An assumptive thought is that some of the capital (albeit small) is relocating itself to Cryptocurrencies. This is only an assumption which would need to be proven by evidence of 'hard data' showing this. Stablecoins, Digital Currencies, Cryptocurrencies and Tokens are all operating in this Crypto Universe and all have a different purpose within the Crypto Eco-System. I look forward to seeing how this asset class develops, changes, improves and performs in 2019.
  12. I see a 'spike' in Silver coming to $15.00. This is based on my 'gut' and 'instincts' with a little bit of knowledge and experience mixed in. The market loves round numbers that traders like to target. Also Silver is lagging behind Gold at the moment so I expect Silver to do some catching up which is why I think $15.00 is imminent. If Silver does hit $15.00 then I expect fresh capital flooding into the 'Long' Silver trade with speculators and Hedge Funds driving the price up higher. If that happens then I will be extremely happy as I am already in the trade so I can take full advantage of the 'profit potential' should that happen. Also it may close any 'Short' positions still open which could 'amplify' any move upwards.
  13. @cryptotrader, I invested in Bitcoin and Ether using XBT Provider One Exchange Traded Notes (ETN's) a couple of years back when Bitcoin was around the $2k level. These were long term investments which I intended to hold. Now my error is that with hindsight I should have sold when it reached the highs near $20k which I did not and is a big error on my part. However, even after the 90% drop from its all time high I am still in profit on both which is remarkable. Now my investing strategy and trading strategy are different. When Bitcoin clearly entered a downtrend based on price action I decide to trade that trend as it was extremely strong. This trade was based purely on price action and did not change my belief and confidence on Cryptocurrencies as an asset class going forwards for the future. I had witnessed around three large drops where Bitcoin had corrected around the 60% - 80% mark. This was not a new phenomena for me. Hopefully the above gives you an insight into my decision making. In terms of Ether Futures, I am not so sure they are imminent. They may arrive in the future who knows but Bitcoin is still the 'Grand Father' of the Crypto Universe and the likes of Ripple are now above Ether in terms of market cap by about $2 billion. So are Ripple Futures imminent? I agree with your manipulation comments in relation to big banks, currency, etc. It exists in all other asset classes so why should it not exist in Cryptocurrencies? It is just a different style of fraud more suited to the Crypto Universe. I am still positive on Cryptocurrencies going forwards and my view has not changed. If anything the eco-system for Crypto is getting stronger albeit at a slow pace but it is gaining traction. Therefore my investing decision is based on this where as my trading decision is based on price action and trends. Bitcoin's price action and trend has been available for all to see. That is why I am long Bitcoin from an investment perspective and have been for over two years and short Bitcoin on a trading perspective. I still think Cryptos have the potential for another leg down and this could just be an 'amplified' short covering rally with new longs entering. If it is not and the Cryptos meet some of my criteria and indicators then I will have to reassess. I am monitoring the price action daily so I am living and breathing Cryptos at the moment and that helps to give me a feel of where the market is going and how it is behaving based on news released.
  14. @cryptotrader, Venezuela has had some serious problems in 2018. I wish you and your family a very Merry Christmas.
  15. My short trade on the US 500 is up a staggering 140 points in just over two trading days. Yes, that is right just two trading days as the market was closed over Saturday and Sunday. I have made my trading decision based on very simple and basic 'Technical Analysis' which is supported by 'Fundamental Analysis'. There has been nothing complex in how I have arrived here. I have shared it on this post 'Live' with the IG Community for all to see my thought process behind the decision making.
  16. My Gold trade is up nearly 20 points. My Silver trade is up nearly 10 points. I am happy with the performance of the trade to date. It is playing out like I envisaged which is a nice confirmation to the assumptions I had before I placing the trade.
  17. @cryptotrader, I am not sure about backing up the global macro picture but I am trading primarily on price action and the behaviour relating to the trend in play. Whether it backs the global macro picture or not is of no interest to me from a trading perspective. The only picture it needs to back and support is the trend identified. The points you make are valid in relation to Gold. Here is a question for you. You are making similar points to I have made in relation to Gold in a thread I started. What would it take for you to go long in Gold? I have openly shared my live Gold trade in another thread. Knowing what you know and analysing the current price action what would it take?
  18. @PandaFace, Yes and so too Cryptocurrencies at 9:00 pm on Christmas Day. We may not have seen a 'Santa Rally' in equities / indices but we sure have in Cryptocurrencies! Have a lovely Christmas and New Year.
  19. @PandaFace, Thanks. Yes for me the two most important indicators are 'Price Action' and 'Volume' when looking at identifying trends, establishing trends and giving consideration to whether it is a potential trade or not.
  20. @Nelsy-Boy, In my experience if the price of an asset moves with low volume then it is a 'weaker move' against when the price of an asset moves on high volume which to me represents a 'stronger move'. The volume tends to go with the trend. To me it shows how much conviction traders have on the trend in play. A word of caution here @Nelsy-Boy. Volume can be manipulated to make it look like there is higher volume to attract trades. I am not sure if you have come across the Volume Price Trend (VPT) Indicator? It shows the strength of the price change and the price direction of the asset in question. I am sure if you look this up then you will find plenty of material on this. I personally tend to look for an increase in volume when trying to identify trends both on the upwards and downwards. If I see volume increasing as the price is increasing / decreasing then it is telling me that the trend is getting stronger. There are other indicators to consider but this is just one of many that can go into the 'basket' before making a final assessment / conclusion on whether the trend is strong enough to trade. So to answer your question, in my personal opinion, more times than not if the price moves a big chunk higher with little volume then this is not as positive as if the price moved with higher volume. So to summarise below: Price moves upwards / downwards on low volume = Potential weaker move / trend Price moves upwards / downwards on higher volume = Potential stronger move / trend
  21. @JamesIG, Thanks, yes I forgot to mention the right click of the mouse. Plus you visual screen shots look better too. Thank you for that.
  22. @fhk-uk, No problem. I agree with @Mercury that you should just not follow someone else. You have to put the time and effort into the trades and you have to make the decision in terms of why you would enter / exit the trade. I will not repeat it here again but I have posted in other threads the importance of a trading plan, trading strategy and trading system. Please feel free to have a look at my other threads. It is in a few of them and you may find it both interesting and useful.
  23. As someone who follows 'Trend Following' principles the two key indicators I use are 'Price Action' and 'Volume'. A lot of traders will pay attention to 'Price Action' but their analysis will ignore 'Volume'. When it comes to trading Cryptocurrencies such as Bitcoin then in my opinion 'Volume' plays a really important part. After price action it is the most important indicator when trading Cryptocurrencies. Even when price action is telling me a 'narrative' and 'Moving Averages' are supporting that 'narrative', I will still look at 'Volume' to confirm this 'narrative'. If the volume is strong then it may well support any assumption that I am making. However, if volume is weak then it may reject any assumption that I am making. Volume is actually an underrated indicator in my opinion. When a higher price is supported by low volume, it usually leads to a drop in price rather than the opposite. Using volume to support the price action is a very useful measure when trying to establish the strength of the trend along with momentum. For me if the volume diverges from a trend so that the price action is positive and the price is rising when volume is declining then it tells me that the trend may be getting weaker.
  24. @PandaFace, OK thanks for that. Much appreciated.
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