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TrendFollower

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Everything posted by TrendFollower

  1. Litecoin is up 2% at the time of writing this post and is this morning's best performer of the Crypto's available to trade on IG's platform. It seems to be that Litecoin is consolidating at the current price range which is a healthy sign. However it needs to break this current range bound activity or face further downward pressure. I do fear for some of the alt coins in that their narrative is far weaker than Bitcoin.
  2. So the oil price has spiked. This is amongst the backdrop of US-China trade war. One could not write a more riskier script. Singapore's data yesterday was weak. China is looking a bit shaky at the moment. UK is all over the place with Brexit and Germany is heading towards recession if it is not careful. Now for me it is a question of whether there will be a sustained increase in the price of oil because if there is then this could have inflation implications just at at time when the major world economies are looking at reducing interest rates. A higher oil price means higher costs for businesses that need to acquire oil. It made me chuckle when Trump suggested that the US did not need Middle Eastern oil. We all know that the US has plenty of oil and gas reserves and is sitting next to Canada which is huge reserves of natural resources. However, the US in the past have been exceptional at using other nations commodities whilst keeping their resources in ample supply and tact. India and Pakistan have been bogged down in political turmoil over Kashmir and other matters. When one looks at the global scenario then there is so much economic and political risk around. Yes the UK has demonstrated some unexpected growth recently but that is nothing to be excited about long term. I have no idea how the markets will react to the UK leaving the EU on 31st October or if the EU grants any extension or even if Boris Johnson asks the EU for an extension. From a fundamental perspective, I feel that the markets are going to be extremely volatile and one must not let any short term noise influence their long term vision of how they see the next year, five years and even ten years playing out. We all have car insurance just in case we are involved in a car accident. Investors and traders should have some small exposure to Bonds and Gold just in case there is a market crash (insurance for investing and trading). Depending on how likely you think this is going to be should determine the amount you allocate to Bonds and Gold. Some of us will have had an exposure to Bonds and Gold for a while now and the price has seen huge rises over the past year or so. Therefore one must also be careful that most of the bad news is not already priced in. Getting the amount your allocate to Bonds and Gold is important and this will depend on what your outlook is for the markets going forwards.
  3. @BMP2020, Every individual is different. Every trader will have a slightly different mindset, personality and trading behaviour. I think it is all down to you. If you want to make profits via spread betting or trading and you do not want to give it back to the market then make sure you have a robust trading strategy. Make sure you have a robust risk management strategy. If you make profits and you choose to walk away then make sure you do walk away. This will depend on what your trading goals are and how much you are looking to make. This is individual to you of course. Therefore don't worry about what you are hearing and what others are telling you. When you say you have heard, from who? Are these people or literature credible? I do not doubt that there will be many who end up losing the profits they make but I try not to worry or think about them. They are not of my concern. First of all make sure you protect your trading capital. Without trading capital you are not going make any profits. If you lose your trading capital then you will not have to worry about walking away! I accept there is a notion that spread betting and trading is like a casino and this can be true if traders are merely gambling without any trading plan, trading strategy and trading system. Just make sure that is not you. You must make sure you are not gambling by having a sound trading plan, strategy and system. Do not trade without these. This part is in your control. If you do not feel comfortable or ready for trading then can I suggest you stick to investing. I know a lot of people who have never invested a penny in their life and jump straight into trading. My personal opinion is that investing should be the foundation on which one begins to trade. Become an investor first and a good one at that. Learn to make profits consistently by investing. Beat the index's year on year consistently and then look at trading. That is just my personal opinion of course. I accept others may disagree and you can decide for yourself. I am not going to wish you the best of luck or hope you succeed as for me there is no place for words like 'luck' or 'hope' in investing and trading. All the best
  4. Ether has hit $200.10 so the rest of this week should be interesting.
  5. Gartner: Blockchain Will Transform Most Industries in 10 Years https://cointelegraph.com/news/gartner-blockchain-will-transform-most-industries-in-10-years
  6. The US and China are leading the way when it comes to Blockchain development. In my opinion the UK is missing a big trick here and so too is India with the calibre of mathematicians and programmers in India it really should be at the very least in third place. However the negativity and potential Cryptocurrency ban is hindering its progress in this area.
  7. @Gaby, When you say IBD are you referring to Investors Business Daily?
  8. @mark27, I think Mr.T could do with some help from the A-Team! 😂
  9. @AbDXB1345, Natural Gas hit 2727 and is up around 3% at the time of writing this post. There have been many who have asked me what is a strong trending asset and here is an example of a strong trending asset since the end of August 2019 to date so around 2-3 weeks. Natural Gas may only be a trade that lasts 1-2 months on the long side but there is profit to be made so it is a case of riding the trend until it changes as based on my past experience the volatility can be ruthless. However, the pullbacks will be sharp and it is important not to exit on a pull back but a confirmed trend reversal. The pull backs will feel like they are a trend reversal due to the sharpness of them but based on my own personal experience one needs to be monitoring the price action like a hawk. One also needs to be following the fundamentals of Natural Gas closely too. One must be aware of the supply and production which gets reported and be aware of the demand forecasts against actuals.
  10. Natural Gas is now deciding to flex its muscles and motor upwards. I hope those of who are are using leverage are enjoying the profits here. It looks like it will try and go for 2717 which it hit earlier.
  11. Ether is really struggling to move above $200 but it seems to have performed better than some of the other well established alt coins on IG apart from EOS. If it can break $200 then I can see it having a real go at its 100 DMA which is around the $228 price area. This will take out all of the 20, 50, 100 and 200 DMA's. $203 will see it take out its 20, 50 and 200 DMA's.
  12. Apparently Bitcoin has entered its fourth parabolic phase. I have stated on many occasions in the past the one must not fear bubbles but embrace them as they provide the best trading opportunities in one's lifetime. Just have a look at the four previous bubbles for Bitcoin (below). I don't recall the 'tulip mania' having four or more such bubbles. Date Bull Market Top Percentage Change April 2011 $0.80 N/A April 2013 $259.34 32,317.5 percent November 2013 $1,163 348.85 percent December 2017 $19,666 1,590 percent Tops of every bitcoin bull run. | Source: Weisscrypto So what do you call an asset that has already apparently had four bubbles and a thousand deaths? I call it an asset that refuses to die. If Bruce Willis is looking for a replacement in the Die Hard franchise then Bitcoin could just be perfect replacement. 😂LOL. 🔫⚔️🔪🗡️
  13. I came across this rather interesting article this morning. HTC’s Blockchain Phone Now Supports Bitcoin Cash https://www.coindesk.com/htcs-blockchain-phone-now-supports-bitcoin-cash
  14. @AbDXB1345, If you look at both Crude and Brent Oil charts against the Natural Gas charts on the 'daily' then you will see that Oil is still in a downtrend where as Natural Gas is looking like it is breaking out from its downtrend. It seems the downside may have been priced in to Natural Gas where as Oil could have further to fall. Now this may not happen but if you look at both Oil and Gas on the 'daily' then you will see why I am suggesting this. Of course it is only a trading assumption but nevertheless it will be interesting to see how this plays out.
  15. Guest Mr T, There will always be the element of leverage when spread betting. You are putting up margin for a position where you have not used the entire capital required. This is leverage. Even if you use the minimum margin requirements, it is still leverage. Therefore if you keep you position overnight then there will be costs/charges I am afraid. It would be great if there was not but that is the way it is. IG need to maximise their profits. I am someone who keeps their positions open for weeks and months and I pay IG a lot of charges but it is when I am trading with the direction of the trend (which is strong) and so the returns far outweigh any daily charges. Where this does not work is where the markets are trending sideways or against the direction of your position then you must absolutely via your stop losses exit and not pay the overnight costs/charges. For me as someone who uses IG's spread betting platform the only way to trade is to trade in the direction of the trend and trade the strongest trending assets. Anything else will lose you money unless you are a professional trader and an expert in trading. If you have mastered trading which very few have then any other trading style or strategy is not going to work for Spread Betting in my personal opinion.
  16. Right now everyone is looking at trading US Crude Oil and Brent Crude Oil. This price action is based on the Saudi drone attack. Prior to this there was no clear direction for Oil from a trading perspective and it was rather range bound and choppy. Natural Gas prices have not reacted like the Oil prices. However the following was reported yesterday: "Saudi Energy Minister Abdulaziz bin Salman said the attacks also led to a halt in gas production that will reduce the supply of ethane and natural gas liquids by 50%." Now when the US markets open today there is the potential of speculative capital flowing into Natural Gas and it could also see a major spike today. Now there is lots of supply in the US and that glut has been around for a long time and many years so this event will not change that. Therefore any spike in prices should result in a downwards sharp drop shortly after. Now obviously I have made a trading assumption. The price action will test my assumption. The current price is $2.67. Let's see what the price is later on this evening.
  17. @maringachrisen, What is your trading and investing background? Have you ever invested? Do you currently trade? If so which assets and what is your trading style? If the answer to any of the above and more specifically 'trading' is no then I would suggest you read material that can help improve your knowledge and understanding of trading before doing anything on IG.
  18. There have also been a couple of reports of explosions in Natural Gas fracking operations during the past couple of days. Add to the mix the Middle East tensions and one begins to see some weight behind the price action of Natural Gas. This coming week will be rather interesting to see if the breakout potential continues.
  19. @dmedin, I many years ago used to subscribe to MoneyWeek, Investors Chronicle and Shares Magazines and realised that by the time anything or significance or note is published it is rather late. There is no substitute to spending the time monitoring the price action of certain assets you are interesting in trading and living and breathing them. This work is priceless in my opinion and it enables traders like myself to identify potential trading opportunities which may become the strongest trending well before it is even considered or published in the likes of the magazines I have just mentioned. If you want insight into business then research it on the internet. TA, again there is so much free information available but create your own technical analysis requirements that fit with your trading style and personality.
  20. So where is the India 50 right now? The price 'daily' did not go below 10000 level and it is currently around the 11000 level. So there is support within this range bound price activity. For me any drop in price below the 10600 level presents a bearish scenario. This is of particular significance with so much political risk in India. There is also a higher chance now of economic risk too due to what is happening around the world. I am a long term investor in India and have been for many years so I will use any large corrections or drops as a chance to add to my investments as I believe in the longer term narrative and story for India's growth. However, for traders, they need to be clear that shorter term India could be very choppy to trade and extremely volatile.
  21. A report published in December by Research and Markets stated that 83% of all AI chips will be in IoT devices (like smartwatches, driverless cars, etc.) by 2023. Now the global market for IoT devices with embedded AI chips is predicted to reach $26 billion in just a mere four years from now. I personally think 5G will be a key driver and game changer. It is rumoured that Apple's new iPhone next year in 2020 will support 5G. Even if this is not true then it is reasonable to think it certainly will be at the very latest in most new smartphones by 2021. The mobile network 3Three is already offering 5G network services in certain geographic locations around the UK. It is reported that 5G will bring internet connection speeds of up to 100 times faster than 4G. WOW. If that is even half true then 5G will totally change the dynamics and potential for IoT.
  22. This is something which could gain traction if it proves to be a successful model. This has not yet been proven and only time and success will tell if tokenisation can be applied successfully in cases like this. Wesley Snipes To Tokenize $25 Million Movie Fund With Security Tokens https://thetokenist.io/wesley-snipes-to-tokenize-25-million-movie-fund-with-security-tokens/
  23. This is a very interesting development. CME’s Bitcoin Index Provider Wins First EU Crypto Benchmark License https://www.coindesk.com/uk-regulator-grants-cmes-bitcoin-index-provider-eu-benchmark-license Does this really sound like action and behaviour towards an asset class and specific asset that is going to go down to zero anytime soon?
  24. To me it seems there is seller exhaustion around the $10k level at present.
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