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TrendFollower

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Everything posted by TrendFollower

  1. @cryptotrader, I am not sure what point you are trying to make but most who follow trend following principles will buy as the price is rising or short as the price is declining.
  2. @Caseynotes, thanks for this. Very interesting. I think there is big money in the US on the sidelines waiting for more clearer regulations in certain states.
  3. Wheat London is going great guns as the chart below illustrates. Wheat Chicago is not doing as well as Wheat London from a price action perspective as the chart below illustrates. This so far as been a very good trade with a nice 'pair trade' ensuring sound risk management. Anyone in the IG Community have any suggestions as to how this trade could have been executed differently or better?
  4. @PandaFace, for something that was a bubble and was a fraud that was going to zero, Bitcoin, seems to be holding up rather well. Now it could still crash down to $5,000 levels. This is Bitcoin which operates in the Cryptocurrency Universe which is as higher risk as they come from a trading perspective. A trading idea could be to go long Bitcoin and then short one of the other cryptos that is not going up as high (if they are all going up). The two that come to mind at Bitcoin Gold or Litecoin. Maybe even Ripple. Shorting Ether would be a risk at this stage and Bitcoin Cash may still have some legs.
  5. It seems the rally in Bitcoin at the moment is in anticipation of the US approving a Bitcoin ETF. The smart money gets in early and well before the US makes a decision either way. As the price of Bitcoin goes up until the decision is made the smart money will come out with a profit as if the decision is that an ETF is not approved then they will simply close their long positions and then short Bitcoin. They will make money on the way up and on any way down.
  6. Trump's trade war is interesting. I read an article which suggested the this could launch Bitcoin as the new Gold. Bitcoin shot up recently and to over $7000 and now over $8000 and it has not gone back down to $6000 levels. Here is a theory and it is only a theory as I have no evidence to support it. Chinese Currency Devaluation. Traders buying Bitcoin for Chinese Yuan. The Chinese could be dumping the Chinese Yuan for Bitcoin. They could then convert the Bitcoin into US Dollars quite easily. I think Bitcoin could be the asset to go to in times of turmoil, political uncertainty, trade wars, etc. If the Chinese start buying Bitcoin as a result of Trump's trade war then it could have a significant impact on the price.
  7. @PandaFace, If a Bitcoin ETF is approved in the US then it would mean that investors would be able to invest in Bitcoin without having to deal with all the exchanges. There is an unconfirmed and I repeat unconfirmed report by the ICO Journal last week suggesting a Bitcoin ETC was likely to get approved. From memory the website reported two sources with one of them being at the SEC and the other being at the US Commodity Futures Trading Commission (CFTC). Apparently this decision is expected around 15th August 2018. If this happens and it is an if then I expect Bitcoin to clear $10k.
  8. @cryptotrader, yes we do but we want above $11,440.00 for the long term downtrend in play to be taken care of.
  9. $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.
  10. 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
  11. 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.
  12. 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
  13. Right now at 8:00 pm Bitcoin is going up and Gold is going down.
  14. 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/
  15. 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.
  16. @PandaFace and @rimmy2000, I started this topic nearly a year ago which may be of interest to both of you.
  17. 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.
  18. @Ludwik Chodzko-Zajko IG, thanks for this. 3:00 pm today will be interesting.
  19. @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/
  20. 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
  21. 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.
  22. 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.
  23. 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.
  24. 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.
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