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TrendFollower

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Everything posted by TrendFollower

  1. @Mercury, Crypto's can be traded just like any other assets both on the 'long side' and the 'short side' based on price action. It really is no different to trading stocks, commodities, etc. If you use technical analysis then it can be applied to Cryptocurrencies. It should not matter whether you understand Cryptocurrencies or you believe in them. You are merely trading based on price action. When trading Cryptos then one must ignore the 'market noise' just like in Commodities and Stocks. I have traded many companies which I did not believe in and profited based on price action. I will just have to accept that our views will differ on this. As someone who follows 'Trend Following' principles then I do not think it is important to understand or believe in the asset you are trading as long as you are trading principally on price action and trends. Cryptocurrencies brought to the world - Blockchain Technology. Blockchain and Cryptocurrencies are now bringing to the world 'Tokenomics', 'Token Economy' and 'Tokenisation'. Some of the research I have conducted on Blockchain and Tokens is fascinating and a strong movement has already began to tokenise assets to aid in transfers and transactions. I totally appreciate that many will not understand my views or think I am being stubborn but the future is tokenising of assets and this will be based on Blockchain technology. Bitcoin and other alt coins are after all 'tokens'. We will have to agree to disagree.
  2. I think I commented on another thread this very point that Amazon during the Dot.Com period lost around $1.5 billion. It is now, 18 years later, only the second company to have a market cap of $1 trillion dollars. Yes, a lot of Cryptos will die, but the strongest will survive and adapt to market conditions and any regulations going forwards. This type of price action and major corrections have occurred a few times since inception so there is nothing new here.
  3. @Caseynotes, I believe he observed, Jesse Livermore.
  4. @cryptotrader, I assume you mean 'Proof of Work' when you state POW? The World Economic Forum have no vested interest as far as I am aware trying to promote Blockchain. The World Trade Organisation (WTO) are making some interesting predications and yes that is all they are predictions which should not necessarily mean they will come true but the article presents them below. Blockchain will add US$3tn to international trade by 2030, predicts WTO https://www.gtreview.com/news/fintech/blockchain-will-add-us3tn-to-international-trade-by-2030-predicts-wto/ I have commented on other threads about the 'Token Economy', 'Tokenomics' and 'Tokenisation'. The article below is happening. Potential $20M Real Estate Sale Looks To The Blockchain https://www.pymnts.com/blockchain/2018/real-estate-sale-digital-payments-the-hub/ I think Blockchain is still gaining traction regardless of the 'noise' surrounding the price action of Bitcoin and other Cryptocurrencies. They are just merely behaving in major correction mode. This has happened several times before since inception. It is nothing new but Blockchain is continuing to progress. I accept the adoption is slow but large corporations are seriously looking to apply Blockchain technologies to their businesses. Time will tell but based on the reading and research I have conducted in this area I am confident that Blockchain is here to stay and is the coming future. There will be many areas where it is not needed and therefore not applied but for auditing purposes, supply chain purposes and transaction purposes it is already starting to gain momentum.
  5. This article touches on security tokens. I have mentioned this in other posts and some of you may remember my references to 'Token Economy', 'Tokenisation' and 'Tokenomics'. If one opens their mind then one may begin to appreciate the strong possibility of this which could be coming towards a future very soon. ‘Blockchain Revolution’ Is Bigger Than Anything We’ve Seen in History: Overstock CEO https://www.ccn.com/blockchain-revolution-is-bigger-than-anything-weve-seen-in-history-overstock-ceo/
  6. I just read this article (link included below) and thought it was very interesting. XBT Provider is also Swedish. Cash is Rapidly Disappearing in Sweden https://www.ccn.com/next-big-crypto-market-cash-is-rapidly-disappearing-in-sweden/
  7. I just tried and I could access paying by 'Card', 'Paypal' and by 'Bank'. It seems to be working.
  8. @Mercury & @Caseynotes, You may wish to look at the link below. https://www.bullionvault.com/gold-guide/gold-etf I used Bullion Vault during the last major Gold bull run. I also used ETF Securities and their ETF and ETN products. Yes there are counter party risk issues with ETN's but I used them nevertheless and that is a different topic all together. Have a look at ETF Securities whose products I do use. They offer a wide variety of Commodity ETF's and ETN's. They offer physically backed too. People thought Amazon was 'pie in the sky' and during the dot com bubble it lost $1.5bn. It is now only the second $1 trillion dollar market cap company in the world and just a mere 18 years later.
  9. @mjr6, Yes they did, those were the days! It is all about demand, supply, liquidity and risk management for IG. They need to manage their risk on 'Cryptos' as an extremely high risk asset class with lots of volatility which many just simply cannot stomach. It is the spread where IG profit so their review will be interesting. 😉
  10. @Mercury, I shall be following your analysis on Oil to see how this plays out. I am intrigued. Out of interest in your personal opinion if there is a long trade on what sort of price do you think it could hit? I am looking at it from a points/profit potential. I have a feeling that whilst Trump is the US President then Oil prices will remain on the lower side so from a fundamental perspective I do not envisage higher oil prices for now or the short term going forwards. There can be 'incidents' which could cause the oil price to spike upwards but I would not be surprised to see Brent hit $50 and US Crude to hit $40.00.
  11. @Bluepowder, I will try and explain in a simple manner using plain and clear English. Bitcoin is what is called a 'Cryptocurrency'. You cannot hold it or feel it. It does not have a physical sense. It is 'digital' and a form of what you could describe as electronic currency. The technology behind it is called 'Blockchain'. If you want to know more about 'Blockchain' then I recommend you read some of my previous posts on this subject area. You may find them useful. It is a 'decentralised digital currency' which basically means that it does not rely on a central bank and can be sent from each user (peer to peer) using Bitcoin's network without the need of any intermediaries. On a fundamental level Bitcoin could be described as a token with verification based on Cryptography. What a lot of people forget is that Cryptography has been around for many years. No single institutions like a central bank controls Bitcoin hence it is 'decentralised'. It solves the 'double spending' problem, has limited supply, transactions cannot be reversed and has clear divisibility. I will leave it at that. If you search for @TrendFollower and some of my previous posts on Bitcoin and Blockchain that I have posted on the IG Community over the past year or so then it will provide you with more specifics and detail. Hope my explanation was easy to understand and helpful.
  12. @elle, May I ask why you have not traded oil, short? (Apologies if you have) but you seem to post a lot of charts and seem in tune with the price behaviour so would expect someone on the IG Community to have shorted oil and profited handsomely from such a trade. I am just curious and please do not feel that I am picking on you or anything like that. I am just curious as there is very little discussion on anyone placing a short trade on Brent or US Crude and profiting from such a trade. I just wonder how effective certain technical analysis strategies are in relation to profit maximisation when certain rules and strategies do not allow you to trade such a nice short trade?
  13. @Caseynotes, really? Surely that cannot be right. I was not aware of that but it makes it even more difficult for someone using MT4 for crypto trading.
  14. @Mercury, You are totally misunderstanding my post. Based on the 'lots of analysis' you are posting I was making an assumption that you were most probably a full time trader. However, I did not want to merely make such an assumption hence why I thought I would just ask. That is all. I wanted to get a better understanding of whom I was communicating with on IG Community. That is all and there really is nothing more to it. You really are a pure out and out analyser as you have even carried out technical analysis on my post! 😂 The only thing is that you misunderstood my 'post action' and reacted to a 'trend' that was not there. 🤣 I have never stated I do not like anything you have posted. Again you are totally misreading my post. I really do hope your charts and analysis is not anything like how you have interpreted my post which you have responded to. Why on earth would you even come to the conclusion that I may not even like your posts and suggest I do not read them? If that were the case I would not even bother viewing or responding to your posts. I take the view that we can all learn something from one another and even if I learn one small thing from you then it is worth communicating with you within the IG Community. In fact you have made several points that I have agreed with and have also made several points that has made me think. I accept you have also made points that I simply do not agree with and that is fine. I was just wondering that if there was a full time professional trader who traded similar asset classes to you then what would they do differently? Would they conduct the same level of technical analysis, less or possibly even more? That is all, there is nothing more to it. You have read far too much into my post. The only reason why I have asked you is that you post a lot of charts with a lot of lines, comments and numbers and you seem to post more of these charts than anyone else on the IG Community hence why I thought asking and discussing with you would be most prudent. The plus point on your charts is that you do comment on your own charts rather than just posting charts for the sake of posting charts with no comments, views or analysis. You do offer a lot of detail in your analysis which I think is a plus if your analysis is correct (I am not saying it is not) and it leads to a potential decision in whether to trade or not. Try a cup of Organic Ceremonial Grade Matcha Tea. I drink it in a Chawan every morning and use 70 degrees water temperature. It helps to focus your mind and relax your thoughts before trading. 🍵
  15. @Mercury, Are you a full time trader? I am not a full time trader. I work for a living (full time) and I manage and conduct my own 'Personal Investment Management Portfolio'. I am wondering what a professional full time trader would do which is different to the amount of time and analysis you seem to conduct?
  16. @Caseynotes, I agree with mining issues you point out. I dislike that whole scenario. I also think that though anything is possible a large crash on US equities is unlikely at this stage. We are just witnessing a large correction which to be fair was overdue. This has happened numerous times over the past 100 years and this will continue going forwards. I don't see Bitcoin not surviving as I think eventually all cryptos that do survive will be pegged to Bitcoin within the Cryptocurrency universe. I fear for Litecoin, Bitcoin Cash, Bitcoin Gold and the rest of the alt coins that offer no real value or benefit to the world right now.
  17. IG have posted this on the front page of their website under 'News Analysis'. Trump takes toll on oil price, pushing it below $60 as supply swells https://www.ig.com/uk/news-and-trade-ideas/commodities-news/Trump-takes-toll-on-oil-price--pushing-it-below--60-as-supply-swe-181123 I have commented on this before so I will not repeat myself but whether one likes or dislikes Trump, one must certainly not underestimate him.
  18. @rachelbarnes, I think I know what you are trying to suggest. I shall let you explain it in your response to @Mercury. I use moving averages. If the trend line using moving averages is trending upwards then it presents a buy opportunity. If it is trending downwards then a selling opportunity. If sideways then not really interested at that point in time. You then have when one moving average crosses another one and so on.
  19. 😂 I have an account with FXCM and their platform is actually quite good. Wow, $4m. Yes, IG seems fine for me. I would doubt very much that the differences are massively significant but will will let @ajaoz respond with more specific detail.
  20. There is now a strong downward pressure for Bitcoin to go towards $3,000.00. I think shorting any of the Cryptocurrencies that IG offer could be a profitable trade. I think the move looks so sharp downwards that it may even go down below $3,000.00 and into the $2,000.00 zone. This will happen relatively quickly. Yes there may be better opportunities elsewhere but are there any which if the move above does happen earn you the same level of profit in the same period of time? Is there any which can go up or down in number of points per £ in such a short time scale as I think Bitcoin will be involved in its strong move downwards?
  21. @ajaoz, When you say not correct are you able to be more specific? In what way are they not correct?
  22. @Mercury, Cryptocurrencies and Bitcoin in particular emerged from 2008 onwards. Therefore the historical data is just not available unlike FX, Commodities, Stocks, Bonds, etc. Cryptocurrencies that go to zero will fail and a lot of 'alt coins' will. If Bitcoin actually goes to zero then it will have failed in my opinion. If there are no increases in actual 'use cases' for Bitcoin or it cannot get institutional support on a large scale then it will be doomed. I think regulation will be crucial and what certain countries agree upon within their jurisdictions. Just because something is new like cryptos does not mean we should fear it but likewise we should not blindly accept it. When fiat currency was introduced it must have had scepticism. If one goes back into history then fiat currency depreciated so much in the 1700's that it reverted back to the 'silver standard'. I think we are seeing the beginning (we are still at a very early stage) of the evolution of digital currencies. We are in a 'digital age' where is seems ridiculous that the use of 'cheques' still exist. These users of cheques are decreasing year on year. Digital only online banks have emerged. I have an equity stake in a few of them. The future of money is digital and cryptocurrencies will lead us to digital currencies. I think until there is clear regulation from the big economies such as US, Japan, China, UK, France, Germany, India, Canada and Australia then cryptocurrencies cannot move on to the next level. The regulation will determine the adaptation needed to make cryptocurrencies fit for purpose and complaint based on legislation agreed.
  23. I ran out of time editing above so below is my correct post. I too am open to the possibility of the four points you state but if it happens or when it happens, it will be. I am not too concerned or worried about it. Yes it is in the back of my mind as a possibility but that is all as a) it could not happen or b) it could take 2-3 years for it to happen. My lump sum investing is buy low and sell high. However as I have stated on many occasions before I monthly invest and have been for many years as I do not have a crystal ball to be able to time the market accurately. However my trading perspective is to buy as the price increases and sell when the price is even higher but with a trend reversal. My timeframe is shorter when trading as it depends on the trading opportunity and my strategy is different. In investing I am in an 'accumulation phase' right now based on my age and risk profile. When I get closer to retirement I will be switching from a capital growth strategy to an income strategy where I look to reduce the risk substantially in my investment portfolio and look for dividends and income with more stability and less volatility. So right now I am not looking to sell. This will happen a few years before I approach retirement when there is an opportunity to take my profits from my capital growth funds and switch them into income funds. It may be many years in advance should an opportunity present itself. I have an open mind when it comes to both investing and trading and am willing to adapt my views and investing/trading strategy should the need arise. Right now I am just letting the price behaviour tell me the 'narrative'. It could be that in my trading portfolio I am short on indices, commodities and crypto but at the same time looking to buy (go long) and accumulate equities for my investment portfolio. I do not disagree with you and have thoughts about what I would do if your four points should materialise as one should always think ahead but apart from that it is about the present and what I will or will not do now based on current market activity. One point I would like to make at the end is that many traders and investors are not considering 'automated trading' which did not exist historically. Right now the largest institutions and the largest Hedge Funds are using them and they do move markets and they do influence price behaviour. This does affect current trends and patters like never before. For me this is game changing as these systems can implement all of the technical analysis indicators and theories out there and make predictions (artificial intelligence / machine learning) on how traders will react to price action and then make trading / investing decisions accordingly. This is a new animal in the jungle and it has a serious edge so one must consider this and have it in the back of their mind. If not then they will have the odds in their favour and based on probability they will beat the average trader more times than not.
  24. @Mercury, I too am open to the possibility of the four points you state but if it happens or when it happens, it will be. I am not too concerned or worried about it. Yes it is in the back of my mind as a possibility but that is all as a) it could not happen or b) it could 2-3 years for it to happen. My lump sum investing is buy low and sell high. However as I have stated on many occasions before I monthly invest and have been for many years as I do not have a crystal ball to be able to time the market accurately. However my trading perspective is to buy as the price increases and sell when the price is even higher but with a trend reversal. My timeframe is shorter when trading as it depends on the trading opportunity and my strategy is different. In investing I am in an 'accumulation phase' right now based on my age and risk profile. When I get closer to retirement I will be switching from a capital growth strategy to an income strategy where I look to reduce the risk substantially in my investment portfolio and look for dividends and income with more stability and less volatility. So right now I am not looking to sell. This will happen a few years before I approach retirement when there is an opportunity to take my profits from my capital growth funds and switch them into income funds. It may be many years in advance should an opportunity present itself. I have an open mind when it comes to both investing and trading and am willing to adapt my views and investing/trading strategy should the need arise. Right now I am just letting the price behaviour tell me the 'narrative'. It could be that in my trading portfolio I am short on indices, commodities and crypto but at the same time looking to buy (go long) and accumulate equities for my investment portfolio. I do not disagree with you and have thoughts about what I would do if your four points should materialise as one should always think ahead but apart from that it is about the present and what I will or will not do now back on market activity.
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