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TrendFollower

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Everything posted by TrendFollower

  1. @Caseynotes, yes indeed. I am out of the country for a month now on both holiday and business so my posts will be scarce or virtually non existent over the next four weeks. I am leaving for the airport in the next half hour. Will catch up on my return.
  2. Brazil 60 looking strong over July 2018 as the chart below shows. Now if you look at the chart with the 20 day, 50 day and 100 day moving averages then you will appreciate that this could start to get interesting for trend followers who have not entered this trade yet.
  3. Cotton is beginning to look interesting again. It hit the $89 level today and there seems to be some short term momentum but whether there is enough legs for £100 is yet to be seen.
  4. Both Wheat London and Chicago are trying to breakout but I cannot recall the price of Wheat London so high over the past five years or so. There are different ways to play this trade. @cryptotrader has come up with an alternative way of playing this trade. I think if Wheat London hits $190.00 then I think speculators will force this up to $200.00. For Wheat Chicago I am not so sure whether this can hit the $606.00 level but lets see.
  5. What! After getting over my initial surprise at this news it is actually quite interesting. The Big Mac and McDonalds has played a part in measuring in economic terms 'purchasing power'. I think it was in the 80's that the Economist started using what is now till this date called the 'Big Mac Index' which is used as a way of measuring the purchasing power of international currency. I remember studying it in Economics many years ago. I would be surprised if it was a cryptocurrency. I will have to check my news feeds after finishing this post. I think 'tokenisation' is coming so this could be just a 'coupon' in digital coin or token form which is the future.
  6. When the public sector get a pay rise from UK taxpayers money then that is normally an inflationary sign! LOL? Interest rates are used as a tool to combat inflation. If interest rates rise then that will generally be considered as an acceptance of inflationary pressures on the UK economy. With Brexit uncertainty looming it certainly will be an interesting decision.
  7. Does anyone think $1200 is coming soon for Gold?
  8. It will be interesting to see what @cobibudge will decide based on comments and advice given here. If you feel comfortable then please do share your decision and if it is to do as you have suggested then that is fine as it is ultimately your decision.
  9. @rimmy2000, Have a look at XBT Provider One products. I use them for long positions on both Bitcoin and Ether. You may find them interesting. There is a company crowdfunding at the moment called Glint. It is overfunding as we speak. It is not something that interests me as I am not a believe in Gold and Silver going forwards. I favour cryptocurrencies but you may want to have a look at it. They are looking at using users using Mastercard to pay for goods and services using Gold.
  10. @JamesIG, The plus side of this is that it keeps traders in tune with market movements and their trades. The best trades are those which you live and breath. Editing a trailing stop manually with make sure traders are in tune with their trade. I know it is not idea but there are benefits if they want to be taken.
  11. @rimmy2000, yes I agree with your points. All I would add is that if @cobibudge continues to make profits and reinvest or trade these profits then his capital will grow and if they do this on a regular basis then they will not need any capital from friends or relatives.
  12. @rimmy2000, what type of trader would you define yourself as? Momentum trader? Swing trader? Punt on a technical level at that price cannot be a trend follower but I am interested in what principles you follow or adhere to on trading or investing? Do you trade Cryptocurrencies?
  13. @rimmy2000, no problem. Be careful in confirming any indicators for reversal and going long on Gold. The fundamentals for Gold and Silver going up are getting weaker in my personal opinion. Trump, North Korea, Russia, Brexit and Syria could not get Gold and Silver to shoot up. Are you aware of any strong fundamental drivers for Gold and Silver? You may be able to trade Gold from a technical perspective and profit. I accept that but it will be tricky.
  14. @michael20, no. @JamesIG, I understand the third bullet point as a criteria. What amuses me are the first two. What if someone traded 10 significantly sized transactions in leveraged derivatives per quarter over the past four quarters are made losses on every single one of those transactions? Surely that cannot be accepted as an eligibility requirement to become a professional trader? If someone is wealthy or has won the lottery / premium bonds and invests say €500,000 or more but has no knowledge or experience in trading or investing. Then surely this cannot be construed as someone who is a professional trader. They may just have large cash deposits due to large win. They may have asked a private banker / investment banker or wealth advisor to invest and manage their money. They cannot be a professional trader.
  15. @cobibudge, my personal opinion and it is only that is to consider whether your family relationships and friends are more important than trying to make money for them or even incurring losses for them. If you were to make losses with their capital then how would this affect your relationship with your family members and friend? My personal golden rule is never to take any relatives or friends capital and try and invest it for them. By all means give any advice should they seek it and help whenever possible but not to physically trade or invest their capital. From your post I cannot tell whether you are thinking of investing their capital or trading it and both are different. Also you post makes a strong assumption that you will make profits. If you are that confident then you must have an excellent trading / investment plan. May I ask what your trading or investment strategy is and what trading / investing principles you will be following? You can invest as a 'sole proprietor' so I do not understand why doing it through a company would be more attractive for you. For example if you trade using IG's spread betting then there is no income or capital gains tax to pay on the profits. The gains are tax free. On top of that is the use of leverage to maximise potential profits. One could argue that is the attractive part not necessarily whether it is to do it through a limited company or not. These are just my initial thoughts.
  16. @JamesIG, spot on. ? Very helpful for those who cannot be bothered to read my posts. LOL. ?
  17. @JamesIG, thank you for your quick response and clarification.
  18. @JamesIG, first of all can guests now post on IG Community? Guest Khingo Bhingo, yes he does sell trend following courses costing thousands of dollars. Whether this is expensive or not is based on personal opinion. If the courses makes someone thousands of dollars then one could argue that it was money well spent. I am not an advocate of such course and nor would I ever suggest anyone purchase them. There is enough free material out there to read which can give you a knowledge on trend following without the need for purchasing such courses. If someone cannot be bothered to make their own trend following trading plan then they really should not be trading. Why should he have a trading record? If there any law that suggests that one must have a trading record to sell trading courses? He is using information obtained from experienced and successful traders and trying to include them in the courses he offers. The owner of a pharmacist does not need to be a qualified pharmacist themselves. They can employ qualified pharmacists. The same applies for the owner of a chartered accountancy firm. They do not need to be a qualified chartered accountant themselves. They can employ them. It is not Michael Covel that is important so too much time should not be wasted on him. He is merely the individual presenting the trend following information to an audience. It is the people he has interviewed and what they have to say which is important.
  19. I think for IG to offer Bitcoin Gold on the long side must be inefficient hence why you cannot open a long position. I use the word 'think' as I do not know that for sure but I assume that may be the reason. By having a closing position only it allows IG to start winding down themselves and reducing their risk on Bitcoin Gold.
  20. It is pointless IG offering Bitcoin Gold when it is constantly showing: Closing only: Market unavailable to open My comments above back in April 2018 highlighting this very point. I think what has happened is that due to the 'hard forks' Bitcoin Gold was created and so IG has to offer Bitcoin Cash and Bitcoin Gold on its platform. Now what has happened is that the demand for going long on Bitcoin Gold is just not there on IG's platform so they are just allowing existing holders to close their positions and winding down. These 'hard forks' are going to continue being an issue until some sort of strategy is devised to deal with them as at the moment IG is not offering Stellar yet is offering Bitcoin Gold and looking at the results of the poll and posts on this forum that there appears to be a bigger demand for IG clients in Stellar than Bitcoin Gold.
  21. Deutsche Bank - Cryptocurrencies, Blockchain and Bitcoin - How technology is reshaping finance https://www.db.com/company/en/cryptocurrencies-and-blockchain.htm
  22. Making sense of bitcoin, cryptocurrency and blockchain https://www.pwc.com/us/en/industries/financial-services/fintech/bitcoin-blockchain-cryptocurrency.html
  23. This is a very interesting article which just shows how big Cryptocurrencies could become going forwards in the future. European Parliament: Cryptocurrency Could Replace Fiat Currency https://cryptoslate.com/european-parliament-cryptocurrency-could-replace-fiat-currency/
  24. Reasons given for the price behaviour of Bitcoin today. Bitcoin loses steam after SEC denies Winklevoss ETF https://www.cnbc.com/2018/07/27/bitcoin-loses-steam-after-sec-denies-winklevoss-etf.html
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