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Everything posted by TrendFollower

  1. @JamesIG, Copper's recent price action is worrying for world stock markets. I am someone who monitors my investment trusts / investment funds portfolio on a daily basis and I have noticed a drop in my profits over the past week which are more significant than usual. Copper is a good indicator of the general health of the world economy and especially economies like China and the US. It is a barometer that can be used to indicate strength in economic growth especially in construction and manufacturing. They call it Dr.Copper for a reason! For anyone with large equity portfolios then I would strongly suggest they keep an eye on the price action of Copper. Historically, it has been a useful indicator for things to come in relation to the performance of equities.
  2. The £20m raise could give an opportunity to the early investors to exit quickly with a profit. I am always weary of IPO's. As someone who invests in start up businesses, one of the main routes to exit for liquidity purposes is an IPO. That presents a liquidity event which enable investors like me to exit and for someone else to hold the shares and take on the risk. I cannot see institutional funds/money buying this stock so therefore it could get pumped up by speculators and then may present an excellent shorting opportunity. For example which investment trust, OEIC or unit trust would buy this stock? The obvious answer is technology funds but even they have strict criteria as they have performance targets to meet and strong risk management in place.
  3. Would the Financial Times really bother with a Cryptocurrency section if there was not some substance behind Cryptocurrencies and the technology underpinning them - Blockchain? https://www.ft.com/cryptocurrencies
  4. It is nice to see a British MP endorsing some of our views! ? https://www.ccn.com/british-mp-says-blockchain-technology-can-save-uk-8-billion/
  5. Argo Blockchain PLC gets a mention at the end under IPO Watch in share tips of the week in MoneyWeek. https://moneyweek.com/share-tips-of-the-week-91/
  6. Argo Blockchain PLC already manoeuvering itself into the UK Investor Show 2019. https://www.ukinvestorshow.com/speakers-and-companies/argoblockchain/
  7. @JamesIG, that may explain the little upturn in Gold prices. Looking at the Gold charts it could just as easily be the action just before the next leg downwards starts. I have a feeling some buying pressure will be applied keeping Gold above $1240 levels. I sense that some may fund this a good time to enter long Gold but I would urge caution and wait until there is a clear trend reversal. I am not a fan of Gold but I do keep an eye on it. I am more interested in seeing if there is any chance that Bitcoin could become the next safe haven and 'digital gold'. Neither have positive price action at the moment. Gold has an advantage of far lower volatility and far greater reputation based on historical performance. It is a defensive asset which Bitcoin certainly is not at this moment in time.
  8. Apparently hurricane season may threaten Orange Juice futures. Now this may explain the recent upturn in Orange Juice prices. Remember: The speculative money will come flooding in before the outcome is known of the impact any hurricane may or may not have on Orange Juice prices.
  9. Orange Juice hit $16,804 today. What do people think will happen next? Will Trump's trade war have an impact? Apparently Jack Daniels is about to get a price increase of around 10% so what about Orange Juice?
  10. Well Gold hit $1,239.00 today. If the downward trajectory continues then will buyers enter offering support?
  11. It seems to me that it is merely on a matter of time before we see Bitcoin ETF's. This coupled with announcements from the likes of India and US in relation to positive regulation could see Bitcoin skyrocket. If Bitcoin can hit $20,000 without any institutional money then just imagine if Bitcoin ETF's are approved and there is positive regulation around the world then what this could do to the price of Bitcoin? What do people think?
  12. @PandaFace, I see your point on why Bitcoin Gold may have been offered due to the fork.
  13. Just to add to the discussion, there are a group who think Ripple will be the global cryptocurrency. I am not so sure but I can see governments and the public sector around the world adopting it but I am not sure for private individuals. We could end up having several global cryptocurrencies where Central Governments around the world have one, businesses around the world adopt one and then there is a global payments for individuals as well. It may not be a race for just one. There could be possibly 3-5 depending on their speciality that become global cryptocurrencies. What does the IG Community think?
  14. I do not expect anyone to agree with my views but I wanted to start a discussion on which cryptocurrencies are really worth anything in society, within businesses and in economies around the world. For me Bitcoin will eventually become the 'digital gold'. It may take another 10-20 years but Bitcoin is the 'grandfather' of the cryptocurrency universe. It will not die. It will adapt, scale, improve and do whatever it needs to survive based on what the regulations and legislations end up being. If I believe this then I simply do not see the point of Bitcoin Gold. I think if Bitcoin could do the things necessary then it could enhance itself to remove the need for even Bitcoin Cash. Bitcoin for me has 'first mover advantage'. It is the most well known cryptocurrency and has the largest market cap by far. I simply cannot imagine that Bitcoin will not be around in say 5 years time. For me it is not going to zero as otherwise all this effort worldwide will be for nothing. The current people backing Bitcoin and the large players involved will make Bitcoin succeed in some form or another and for me that form is a digital store of value. I like Ethereum as it offers a different proposition. If you go back to 2015 then when the blockchain was launched it has no tooling and no infrastructure. Look at it now. I think after Bitcoin, Ethereum is the next one which I think will survive all the government interference or is more likely to. I think its offering of smart contracts and higher adoption rate puts it in a stronger position that its competitors. The potential is huge. For me Bitcoin and Ethereum are the big boys and market leaders. Full stop. I don't get Litecoin. It was a fork of Bitcoin but I cannot think of a reason to invest in it. There is a reason to invest in Bitcoin and Ethereum but Litecoin? Yes it may have faster transactions speeds but this is something that Bitcoin can overcome in time. I appreciate Ripple gave some of us absolutely ridiculous returns but it is not a decentralised cryptocurrency. I favour Stellar Lumens ahead of Ripple. This is only my personal view but I think Ripple will become something that Governments feel more comfortable using. Therefore, I would consider backing the company (Ripple) rather than the coin itself. If Ripple is deemed a security rather than a commodity then I think Ripple is on shaky ground. I think over time the company that owns the coin Ripple will offer a more compelling reason to invest. What do people within the IG Community think? I have stuck my neck out and presented my views whether you all agree with them or not. I have presented my opinions to the IG audience. Do any of you have any other views which may be different to mine but can be supported by compelling reasons and strong arguments that can make me seriously think differently? I have an open mind when it comes to cryptocurrencies and blockchain and my thinking will adapt and change as things move from one side to another.
  15. Bitcoin (USD) opens at 4am on Saturday, and is available to trade until 10pm on Friday. (London time) (market holidays permitting).
  16. I would be interested in hearing the thoughts of others. What do people think about Blockchain, its potential uses and the IG Coin (token) idea?
  17. I think a more pertinent question is what is IG's strategy for providing new crypto's to trade on the IG platform? I think Stellar should absolutely be on the platform and IG is missing a trick as it offers a different proposition to Ripple. First of all it is decentralised and its partnerships are very exciting. Its market cap has increased over the last 12 month period and has some serious momentum behind it. Why did IG even bother with Bitcoin Gold? I can understand Bitcoin Cash and Litecoin but do not understand the reasoning behind Bitcoin Gold.
  18. @rimmy2000, I think digital currencies and cryptocurrencies are the future. Blockchain which is the technology underpinning cryptocurrencies is the future. The utter garbage crypto's will fail and absolutely go to zero and so they should. Only the strongest will survive. Will this be Bitcoin? I don't know the answer but I think Bitcoin is the original 'grandfather' of cryptocurrencies and the first one to go mainstream with the biggest market cap so I think it has to survive in some form as otherwise the market will lose confidence in the entire project of decentralisation. If one puts into perspective that Bitcoin is still up from what the price was 12 months ago regardless of the 70% drop from its December highs. If you bought Bitcoin when the price was $2000.00 then you would still have a very health profit over a 12 month time frame. I think this correction was necessary and it may drop further before any monster move upwards. If there is a monster move upwards then it is the institutions that join the journey that will make it happen and they will want to get in at the lower end. I have an open mind on cryptocurrencies and its future and will let the price action tell me the story rather than the utter rubbish that is published in certain media publications. One must ignore 'market noise'.
  19. I too have an interest in Stellar which has a market cap of around $3.3 billion. It is in the top 7 in terms of market cap and has a larger market cap than Bitcoin Gold which currently has a market cap of around $400 million! @JamesIG, I do not understand why IG are offering Bitcoin Gold yet not Stellar. Surely the liquidity is better and the demand is greater for Stellar than Bitcoin Gold?
  20. TrendFollower

    the life

    Goland, apologies but what does this post have to do with the commodity section, investing or trading? This has been posted within the Commodities section of IG Community. I think it is excellent that new people such as yourself are now posting so please do not let my lack of understanding put you off.
  21. Gold hit $1251.04. It is moving towards what experts are suggesting is the targeted support zone. The only risk with the current short position is that if Gold does go towards the support zone then a lot of buyers may come in so risk management will key with any short position. The December 2015 trend line seems like the main support for Gold. Source: The above chart is from DailyFX and is not a chart created by me.
  22. @247trader, a UK version of Robinhood is Freetrade. https://freetrade.io Disclaimer: I have an equity stake in Freetrade.
  23. @247trader, Robinhood has a pretty simple business model on the face of it though I am sure if you look under the bonnet then it will get more complex. It is a FinTech company that wants to lets its customers trade shares for free. Sounds great but for me there is nearly always a catch or cost down the road. I accept on the face of it it does seem to have an advantage of lower costs than its competitors as it has no physical footprint. It makes most of its revenues by routing orders through high frequency trading firms. This seems very risky to me. When you tell most people that Robinhood is offering free trading of shares then most will think there will be some sort of cost later on. I think what Robinhood are most probably doing is selling orders which they receive from customers (offering them free dealing charges) to the high frequency trading firms. I think these firms will make a lot of money in this process as will Robinhood and the customers save dealing charges so everyone is happy or are they?