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TrendFollower

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Everything posted by TrendFollower

  1. The one interesting thing I have noticed in the latest bearish price action for Gold is that it seems to be dropping more or less similar to Silver. Silver so far seems to be dropping less aggressively than I envisaged. I must admit I would have expected Silver to be going down for more aggressively than Gold. Don't get me wrong. They have both gone down and dropped considerably. The point I am trying to articulate albeit badly is that I expected Silver to go down far more and far quicker than Silver and this has not occurred so far.
  2. Carbon Emissions seems to be making new highs whilst Natural Gas is feeling bloated! They say a picture can tell a thousand words. Well the two charts above can demonstrate what the price has been doing and is doing currently.
  3. @Ham or should I say Tim? Jambo. Which part of Uganda are you from? Kampala? Interesting question. I did not think IG accepted clients from Uganda but I could be wrong. I too will be interested to see the answer to your question. @JamesIG, are you able to help here? I have found the following which are the countries that IG Group operate in: https://www.iggroup.com/about-us/where-we-operate Now I know this does not answer your question but lets see what James comes back with.
  4. @dmedin, I totally agree with you that Spread Betting is aimed at the retail gambler. The broker (house) is betting on them making wrong trading decisions and profiting. The house always has the stronger edge and the house always wins. The statistics show this. However, to counter my own argument I have heard the argument that Spread Betting platforms like IG need traders to be successful in trading so that they keep placing more trades thus earning them more money. I do understand this argument as well. This is why I keep on stating that when Spread Betting one must only trade with the strongest trends and not against them. That is the best chance a trader has to be involved in a profitable trade and a successful outcome. Anything else in my opinion is more towards gambling. All trading has an element of speculation but with the right conditions / environment and certain signals one can use this to stack the odds slightly in their favour and increase the probability of a winning trade. No guarantees of course. Spread Betting allows the use of leverage. With sound risk management, if leverage can be used effectively it can enhance profits.
  5. At 9:00 pm, Litecoin, is leading the way and is 4.29% at the time of this post.
  6. @JulianG 'Bid Price' if you are selling and 'Ask Price' if you are buying.
  7. Gold is in danger of going down to $1242 level. The chart is looking very bearish to me now. It is beginning to make 'Lower Highs' and 'Lower Lows' look imminent. For me now is not the time to try and be clever and go 'Long'. One must either: Short Gold Do Nothing
  8. @nit2wynit, I think Caseynotes mentioned this in either this thread or another but I agree with him. For new and inexperienced traders it may be a good idea to bet the smallest amount you can in a live account and build those positions up by adding to them should the trade move in your favour (direction). This will help to build your confidence and allow you to really monitor the price action and try and understand why it is moving the way it is. However, I would like to add that before you do this make sure you select your asset to trade wisely. Make sure you entry point is thought through carefully. If certain indicators are not met then you should seriously consider waiting patiently until they before entering any trade. Sometimes the wisest thing to do is nothing. Do not feel obliged to place a trade. Make sure the conditions and set up are in your favour based on your trading strategy and system.
  9. @juliangrainger, One must remember that the Dow can move many hundred points per day in either direction. I just checked on UK's Spread Betting account and for a £0.20p per point the margin requirement is £264.56. For £1.00 per point the margin requirement is £1322.86.
  10. @JamesIG, Thanks for sharing this. One thing the link to IG's piece on trading Coffee does not mention is that 'Speculation' also moves Coffee prices when there is anticipation in advance of a potential / possible outcome. Hedge Funds are great at driving prices either higher or lower.
  11. @nit2wynit, Each trading vehicle will have its advantages and disadvantages. You must choose one or several which meets your needs and can help you to reach your goals. With Spread Betting it allows you access to certain assets like Cryptocurrencies and Commodities without owning the physical Cryptocurrency or opening a Commodities futures account. It also allows you to short shares which you could not do if you were merely acquiring them (long position) from a mainstream broker. It is also tax efficient for the 20% who make profits but they would still have to make profits greater than their CGT allowance to take advantage of this tax efficiency which possibly many do not. There are downsides of course such as the wide and at times ridiculous spreads, margin requirements and overnight charges. It will suit some and I am sure it will not suit many. For me those who lose money and have losing trades using Spread Betting find it easy to blame 'Spread Betting' rather than their trading strategy and trading system. Options will have their benefits and CFD's will have theirs. You must use the trading vehicle and platform which best suits your trading strategy and system. You must use the option which gives you the best chance of profit maximisation and successful / profitable trades. Only you will be able to decide this. What is right / wrong for you may not be for others.
  12. @cryptotrader, The price started its recent strong decline from August 2018. I do not follow the stock nor have I ever invested or traded it. Therefore I am not familiar with the fundamentals. These shares are great when Commodities are on a super bull run. They attracts a lot of speculative capital. They become leverage play on Commodities. @wjw22, By the time you establish there is no chance of further capital the so called smarter money have already shorted it and driven the price down. Just be careful that you are not the last one to join the shorting/selling party.
  13. @wjw22, The smart money would have shorted this since August 2018. It has been a short since. The question now is whether there is more downside, a potential revival and rally or prolonged sideways action. You state the company is about to run out of money by the end of Q2 2019. Is there any chance of further investment being made in the company? Could further capital be injected into the business? What about the fundamentals of the company? Are they strong, weak or thin air?
  14. @kingtrader72, Had you gone long on 4th April 2019 then you would be losing capital. One of the reasons would be that you would be trading against a strong bearish trend. You also need to look at the supply / demand issues for Coffee and any fundamental factors which are driving coffee prices down. One would need to appreciate the background narrative being played before placing any trading position. I would suggest either short coffee or if you feel uncomfortable shorting an asset then wait patiently and do nothing. Wait for a clear trend reversal.
  15. The momentum is indicating bearishness. It has gone below 0. Just how far it goes down will be of most importance to Gold traders. The Parabolic SAR is signalling the threat of a trend change. Once it goes below the dots then it may indicate a potential trend change, especially if the price action continues to go downwards.
  16. Brexit has been delayed and the media are reporting positive trade talks between US-China. This has created the atmosphere for bearish price action. At the same time major indices have been bullish which again has called for a bearish environment.
  17. The US indices just keep rising and rising. The Nasdaq 100 seems the closest to its 52 week high and seems to be leading the way with the Dow and S&P following its path. What happens when all three meet this point is going to be absolutely fascinating.
  18. It is 21:24 UK time and Bitcoin Cash is up 11% already. There will have been a lot of traders who were stopped out due to the extreme volatility witnessed today. They also would not have gone back in but Bitcoin Cash is moving way ahead of other Cryptos as the rest are all trading in the red bar Bitcoin Gold which is up 0.74%.
  19. Bitcoin Cash Just Outcompeted Litecoin On CoinMarketCap https://www.investinblockchain.com/bitcoin-cash-outcompeted-litecoin-coinmarketcap/
  20. Litecoin Achieves New Heights As Lightning Strikes Twice https://cryptobriefing.com/litecoin-hashrate-lightning-network/ The question is whether this is priced in already?
  21. There is some absolutely crazy volatility going on not just for Bitcoin but all the Cryptocurrencies that IG offers on its platform. My guess is it is computer driven automatic trades going on using complex algorithmic trading methods and high speed frequency trading. What this enables them is to ruthlessly close down all those poor innocent traders with tight stop losses on a high risk asset like Cryptos that get stopped out thus making losses whilst the big boy bullies buy back in at cheaper / lower prices. Rinse and repeat when one least expects. This is whilst the charts are showing a bullish trend and they know exactly what indicators traders who trade Cryptos are using.
  22. Yes valid point @cryptotrader. Makes sense.
  23. @nit2wynit, Yes, fair points you make. I try to trade only strong trending assets using Spread Betting for the very reasons you highlight as issues. Anything else and the risks you articulate come into play. I do not have any time or income targets. If you have a trading plan which is to generate £50k income by trading for two hours a day then you need to have a trading strategy that you can execute which will give you the chance and opportunity to do this. Your trading system needs to be adequate enough to generate this income using the time trading specified. You would need to select the right assets to trade at the right time to have any chance of meeting this target.
  24. @Minde1, Using ETP's involves counterparty risk. Also the accuracy of tracking the asset can be questionable on some of them. They are so complex and obscure in how they are set up that the normal person will simply not understand how they are set up and operate.
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