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Everything posted by TrendFollower

  1. $8,044.20 hit. Bitcoin is going up, Gold is going down. For me until Bitcoin crosses and stays above the $9760.00 area a downtrend is still in play over a longer time horizon. This could still be the spike before the next leg down. If $11,440.00 area is crossed then it becomes very interesting as there could be a monster move coming to the upside.
  2. Bank of England says payments system can serve blockchain users https://uk.reuters.com/article/us-boe-blockchain-payments/bank-of-england-says-payments-system-can-serve-blockchain-users-idUKKBN1KD2AM
  3. Crypto Really (Really) Wants a Bitcoin ETF https://www.coindesk.com/crypto-really-really-wants-a-bitcoin-etf/ Both regulation and Bitcoin ETF is coming. However I have invested in both Bitcoin and Ethereum using XBT Provider which is an ETF of sorts based in Sweden. The Bitcoin ETF shouts are coming more from the US as Sweden were far ahead on this one.
  4. This could be huge for Blockchain. They don't come much bigger than the likes of Google. Google wants to bring blockchain technology to its cloud services https://www.theverge.com/2018/7/23/17602762/google-cloud-blockchain-digital-asset-blockapps
  5. Right now at 8:00 pm Bitcoin is going up and Gold is going down.
  6. I wanted to share this article with the IG Community. Up to 10% of Gold’s Assets Could Flow Into Bitcoin https://hacked.com/up-to-10-of-golds-assets-could-flow-into-bitcoin/
  7. One of the books that I would like to read and finish this year is The Intelligent Investor. I am a quarter of the way through and I am reading it with an open mind. Another book is Trading in the Zone by Mark Douglas. I am on holiday for a month abroad so I may take that with me but not sure whether I will actually get an opportunity to read it. It has been highly recommended by many last year to me within the IG Community.
  8. @PandaFace and @rimmy2000, I started this topic nearly a year ago which may be of interest to both of you.
  9. One of the best books I have read which is related to finance and trading is: Reminiscences of a Stock Operator This book is a great introduction to what became known as 'trend following' and the principles of 'following the tape'. Some others that I enjoyed and learnt things at the same time are: Market Wizards New Market Wizards Hedge Fund Market Wizards The books I have stated (above) are based on trend following principles for any of you that may be interested. The following books are great fun to read to get an appreciation of trend following: The Complete Turtle Trader The Way of the Turle Trend Following I know some of you will argue that Michael Covel is a marketing man and I totally accept such a point. However, the books are great for those who want to get a better understanding on a basic level of trend following. It gives the reader a basic awareness of trend following principles and benefits of considering trend following principles.
  10. @Ludwik Chodzko-Zajko IG, thanks for this. 3:00 pm today will be interesting.
  11. @cryptotrader, these two stories may be of interest to you and anyone else who feels blockchain's biggest drivers will be in banking and finance. JPMorgan Wants to Use Blockchain to Issue ICO Tokens https://www.ccn.com/jpmorgan-wants-to-use-blockchain-to-issue-ico-tokens/ Barclays Pursues Blockchain Patents to Create Digital Currency Network https://www.ccn.com/barclays-pursues-blockchain-patents-to-create-digital-currency-network/
  12. A couple of weeks ago my wife's niece came from Boston, US and she is in the medical profession. She was telling me how cryptocurrencies, blockchain, automation / robotics, artificial intelligence was flooding the medical / health care sector and health care start ups in Boston were using (above) to improve their business offerings. I have just read the link below which nicely illustrates and supports what she was telling me. US health care companies begin exploring blockchain technologies http://theconversation.com/us-health-care-companies-begin-exploring-blockchain-technologies-99926
  13. Is there more juice left in the move upwards for Orange Juice? Looking at the 20, 50 and 100 day moving averages then it indicates positive price action to the upside. The chart below illustrates this point nicely.
  14. When looking at Moving Averages then one can clearly see that Lumber's price has fallen below the 20, 50 and 100 day moving averages. This is an indicator based on price action to short. The chart below will illustrate my point. As a trend follower one must embrace both the long and short trades. So Lumber is excellent as one would have made money on the way up and now one can make money on the way down on the same commodity. This way it does not matter when the commodity is trending up or down. If you trade with the trend then it simply increases the odds of success. It does not guarantee it by any means but it simply increases your chances.
  15. Have a look at Wheat London chart below. Both this and Wheat Chicago have gone up. However, Wheat London has is the stronger trend hence why Long Wheat London and Short Wheat Chicago. This means that even if both go up as long as Wheat London performs better then you will profit overall even though you are shorting something like Wheat Chicago.
  16. I use something Sharescope. I don't want to be seen as advocating the use of another company but they are very good, especially for shares but they do ETF's, Commodities, etc. On top of that I am very 'old school' and I look at charts the 'old fashioned' way. I feel by looking at daily price action, I can get a real feel for the trend and go on that journey with it. It does not take long to look at charts and identify trends, breakouts, etc. Yes, there have been times when I have used alerts, especially if I am abroad for work or I am on holiday in another country then alerts are very useful indeed. I don't use them daily or anything but when I am out of the country then I will use alerts. Then have a look at moving averages to see if the trend is above or below 20 day, 50 day, 100 day and 200 day moving averages. I also do a lot of research to establish the reason why the trend has formed the way it has. Is there a specific reason like say a bad harvest, unique weather conditions, etc. If you look at the charts of IG's platform then the tools are there to help you identify trends both long and short. You just need to dedicate time in doing so. Investing your time can be the best investment.
  17. I have just noticed that as Bitcoin's price goes 'red', Gold's price goes 'blue' at time of writing which is 21:12.
  18. When IG offered Ripple to its clients the only move was short as the 20,000% + monster rally had finished. Now it is making exactly the same mistake with Stellar except in my personal opinion Stellar has legs in the rally to come. Stellar (XLM) Skyrockets 30% to Reach 2 Month-High https://www.ccn.com/stellar-xlm-skyrockets-30-to-reach-2-month-high/
  19. I think the short trade is the only trade on at the moment for Lumber. Normally these short moves are far quicker than the long trades. Speculative capital will begin to unwind now creating a big shorting opportunity in Lumber. The price action is telling us a story and one can make assumptions based on what we expect to happen going forwards.
  20. Gold hit $1220.94 and Silver hit $1538.8 Platinum looks horrendous!
  21. @JamesIG, you will see that I have already posted this yesterday evening on the IG Community. I am sharing important news quicker than IG itself! LOL ?
  22. One of the things I find is that the people who feel that crypto is a bubble (they may be right) tend to have limited knowledge and experience in this specific area. Due to a lack of knowledge and understanding they just cannot appreciate the revolution we are witnessing and experiencing in blockchain technology, digital currencies, cryptocurrencies, tokenisation, ICO's, etc. I always let the price action and behaviour advise me and after several falls over several years in Bitcoin (big falls) and other cryptos it is still here and still way up from last year. If that is the behaviour of a bubble then yes Bitcoin is in a bubble.
  23. @cryptotrader, I started my trend following career with commodities. I find that commodities produce great trends both long and short. They bring fundamental analysis and technical analysis together nicely. From my experience, the main thing is to identify the trend to trade in the first place (technicals). Once you have done that you need to get an understanding of what has caused the trend to materialise (fundamentals) before even entering into such a trade. From my experience where wheat is concerned or any other commodity for that matter I do not get fixated into any one most important factor. Once I have identified a trend that I am interested in, I research to get an understanding of what has caused it. It may be one main reason or many factors together.