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TrendFollower

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Everything posted by TrendFollower

  1. @AbDXB1345, I do not trade CFD's so I really don't know. Maybe @Caseynotes can answer for CFD's.
  2. Have you tried the 'Wealth Management' arm of your bank? If you have access to 'Private Banking' then they normally offer such a service to its clients. You may not have enough for Coutts from a company perspective but if you do personally then you may wish to consider them. https://www.coutts.com I mean you could contact UBS, Lloyds Bank Wealth Management and I believe Deutsche Bank have a Wealth Management arm. There is no right answer anyone can give you as we will all have different opinions, wealth and experiences. You must conduct some research into this and contact several wealth management companies online and see what services they can offer you and for how much (fees). This will help you to possibly make a decision but you must do this as it is your company and £350k at stake.
  3. Here is the latest charts for Live Cattle: As you see the price action is positive and going upwards. Here is the latest chart for Feeder Cattle: As you can see it has gone down in price since I posted the last chart. Therefore the price action is going downwards. One of the benefits of trading the so called 'lesser known' or should I state 'less popular' commodities is that you can really focus on the price action which is normally based on strong fundamentals and a strong 'narrative' which does not move at the whim of media articles or so called experts on the famous investment channels. Food for thought!
  4. Based on markets rallying especially the US indices then one may have assumed that Gold and Silver would face heavy selling. However the fact that they have not potentially indicates to me that positions could be being built for any possible move upwards. Having made that assumption it is just as feasible with the way markets are behaving at the moment for serious price drops in both Gold and Silver. So how are my live trades doing at the time of this post? Long Trade in Silver up 95 points Long Trade in Gold up 36 points They are more or less similar to when I last posted an update though the 'daily' charts are indicating a drop downwards. This correction is both necessary and healthy for any upward trending move to last. Both these trades are profitable on paper at the moment and for me it is about letting my winners run and not taking profits too early.
  5. Guest Crypto Derivatives, I take it you are referring to the following website: https://bbod.io May I ask how you came across this? Do you trade Cryptocurrencies on IG?
  6. Yes well put. I quite agree with your sentiment - Guest James Zicrov.
  7. @amphius, First of all it depends on which country in the world you are based in? There are many reputable stockbroking / wealth management firms. A simple search on the internet will highlight some of them. Also if you are wealthy enough to need the services of a wealth management firm then the 'circle' you operate in may be able to advise you? This would be better than asking total strangers on IG Community! I am based in the UK and can recommend Fidelity Wealth for UK clients but this is more for investments funds / unit trusts, OEICS, investments trusts and ETF's. https://www.fidelity.co.uk/services/wealth https://www.fidelity.co.uk/static/pdf/personal/wealth-prospect-brochure.pdf As Fidelity are a US firm. They are likely to offer similar if not better wealth management services to its US clients.
  8. Looking at the price action it seems like this is heading for the 2600 level. This is close to the 50 DMA so could be a pivotal point. This trade has gone against me so far and it is about cutting losses quickly and I have exited the second trade. My stop loss was triggered on my second additional trade and the final result of this trade was: Short opened on 27/12/2018 at 07:57 was down 122 points and therefore made loss. Short trade opened at 2456.77 and exited at 2579.09. Stop loss was around 5% of the opening price of this second trade. My original first trade is still open and my view has not changed that there could be further downside still to come and the recent low still to be tested but it is all about timing and my timing has clearly been wrong on this occasion. That is fine and I accept that. The markets clearly reacted to the positive jobs news that was released and this went against me amongst other things. One could argue that this could be seen as a flaw when it comes to trading using trend following principles and trading based on price action alone. Fundamentals and news have clearly played a part in the recent rally and this can go against solely trading on price action. I have had some excellent results in 2018 based on trading on price action alone which some of you will be aware of so this loss is not going to cause much concern to me. I got it wrong, I learn and I move on. For me it is about the profits from the winning trades being greater than the losses from the losing trades. Short opened on 20/12/2018 (Original First Trade) at 13:30 is down 65 points (at the time of this post). I am expecting the S&P to rally to 2600 and slightly beyond and then it will be crucial, either it is going to come crashing back down or it will continue to rise. If it continues to rise then my stop loss on this trade should execute and I shall be out with a loss too. The price action alone will determine the result of this trade. I think I am the only one who has shared a live trade with such detail on IG Community. I am not embarrassed or have any ego about sharing such an experience. I would rather follow live trades like this so IG Community can learn what to do better and what not to do. I shall keep updating the thread with my original live trade. At this juncture I am expecting my losses to increase until the 2600 level is breached but will monitor the price action to see if my assumption is correct or not.
  9. @fried, @Caseynotes has explained rather well. If you decide to open a position either 'Long' or 'Short' on a share CFD which is a mid cap to large cap as they generally are more liquid shares then your position should open straight away so the answer in this instance to your question would be yes. If it is a small cap to micro cap share where they are illiquid then I am not so sure as for some more liquid stocks it could still be yes but for many it may be no. In terms of opening a position either 'Long' or 'Short' on a share for $1m via a CFD, I am not so sure. You will have to contact IG's dealing desk / customer services as to whether they would allow that. If you have 'professional status' and are a 'High Net Worth' (HNW) individual and can demonstrate where the funds are coming from and can satisfy certain requirements then IG may well consider it. They would most likely not consider it for you as you clearly state in your post that you are struggling to grasp the concept of CFD's so even if you were a multi millionaire then I am not so sure that IG would allow you to open a position for $1m as unlikely that you a 'Professional Client' with IG. If my assessment is wrong or incorrect then please accept my apologies.
  10. @Caseynotes, Well put. That was good advice you have given. 👍🏾
  11. Carbon Emissions seems to be heading down so it may be a potential good 'short' trade. The price has gone below its 20 DMA so any aggressive trend followers would potentially open a 'short' trade here. What is interesting here is that the 50 and 100 DMA's are very close together and it seems the price is heading towards there. Then you could possibly see it go for the 200 DMA due to the sharp move upwards which in my opinion may have includes Hedge Funds, Trend Followers and Speculators. The one thing I would say that goes against a possible short trade is that all the moving averages I have mentioned above are sloping upwards and it has gone towards the 200 DMA before and then moved upwards so a tricky one but who said trading was easy! Trading Carbon Emissions is not for the feint hearted but the question of another move upwards does cross my mind with the 'sloping upward' moving averages. The MACD is hinting as a trend change and the Parabolic SAR is supporting that hint.
  12. @Caseynotes, Coaching - I cannot wait for your response. I look forward to it. It is all about knowing your audience and so far there are only a handful of possible technicians posting and I am not one of them as I trade on a very simple level. There are only a few of you and I include you @Caseynotes who trade on what is perceived to be of a higher level compared to other posters but the question is whether it is more profitable or not than a more simplistic trading style? How do you coach someone who is a 'newbie'? The analysis that some of you conduct would blow their mind. How do you assess their aptitude? I shall be monitoring the responses but what I will say is that one needs to understand the 'newbie', what their skill set is, what their risk profile is, how much capital they have, what their competencies are, strengths / weaknesses, specialities, etc.
  13. @Nelsy-Boy, It could be but I do not know. I am still short Natural Gas until my stop gets triggered. There is no clear trend reversal yet but I do not know if this is the bottom or not.
  14. @PandaFace, I am not a short term trader apart from on Cryptocurrencies when I was day trading them during the big rise last year. I have a slightly different view. As my trades could last days, weeks or months depending on the trend then I find that I normally always tend to have positions in something or another even during extended breaks unless there was absolutely no opportunity to trade which is rare when you trade both long and short. For me you have to want to trade from the mind and heart. It should not be forced as this can lead to at times ineffective decisions. However, I at times make these even when I am wanting to trade from the mind and heart. LOL. 😀 I would not force it upon yourself. Let it come naturally. What you can do which sort of links with @Caseynotes is to still continue following the markets, price action and trends of certain assets and keep in tune by watching, reading and possibly conducting some research. This may help you get your motivation. If still not then I would wait on the sidelines until it comes back. I would not recommend risking capital when you are not motivated. Trading is hard enough to consistently make profits, trade after trade and the condition of the mind and mentality at the time is very important.
  15. I don't think IG are even on the list of top UK SIPP providers. If you conduct some basic research on the internet then you will find some very good platforms for trading within a SIPP.
  16. At the rate of the current price action it seems my stops may well be taken out tomorrow if not later today. This may well end up being a loss making trade bar some negative news in relation to the US-China Trade War (meeting) or anything else which creates more 'selling' rather than more 'buying'. I shall keep this thread updated via a post should I get stopped out.
  17. Quite right. That is a strategy can be quite effective. Cannot offset losses on spreadbetting but profits free from CGT. Have to pay tax on profits from CFD but can offset losses. Posting using mobile is not the same for me as using my desktop as some familiar with posts will be able to tell😀
  18. @Caseynotes, there you go again making assumptions. I am not trying to sabotage anything. I am merely offering a different view / interpretation. It just so happens that it differs from your though I accept my view could be incorrect. Apologies but how do you know it is experimental? I may have missed this. I too will be interested to see how this goes as I clearly state in my post hence why I am involved in this thread and posting. Robust challenging may bring the best out of @TheGuru12. We all may benefit as a result. There is an offering of a service to produce charts which though is not a sale as there is no financial transaction it could lead to new or inexperienced traders making trades that they possibly otherwise may not have made either successfully or unsuccessfully so there could be a consequence as a result. I too am interested to see what comes of this going forwards but @Caseynotes it is ok to have different views and it is ok for me to be wrong. Embrace the different views, challenges and critiques. Offer real value and real live trades and let us all learn together and help each other. I find some of your posts very interesting and helpful at times. I would love to follow your live trades and see how you trade and make decisons.
  19. @Caseynotes, I only commented as you originally mentioned it and I did not agree. Had you not mentioned it then I would not have responded as such. End of. No, you make an assumption about my interest in ESMA. I have not lost interest. I can see both sides of the argument. No, I do not wish to solely discuss business start ups but I agree with you if I did then I would start a new thread. I have a fair amount of experience in start up investing and have been involved for many years. I do not wish to get into a debate on that matter as it is not for this thread, I agree. In terms of ESMA I can totally understand why it was implemented but @Caseynotes you make an interesting point regarding the future potential removal of CFD / Spread Betting products. I think the UK would fight hard to keep them but food for thought.
  20. @TheGuru12, If you mainly do stocks then why post this on a thread created titled '52 Week Price Analysis for Bitcoin'? That is a 'red flag' for me. Post it and make it clear that you mainly do stocks and you don't need to include or mention Bitcoin. Make it clear that what you are offering if free unless I have misunderstood. That is 'red flag' No.2 for me. Why Not demonstrating or evidencing the performance of your coding / system is 'red flag' No.3 for me. Suggesting that running a discord group and Reddit thread to discuss trading/coding with the IG Index API gives you authority around some parts of the internet is 'red flag' No.4 for me. That is like suggesting that I have some form of internet authority for my threads and posts as TrendFollower on IG Community. Far from it. My contribution on IG Community is 'miniscule' if non existent when it comes to internet presence. I wish you all the best and look forward to seeing your live trades on stocks or what ever assets you feel comfortable with and see how it performs. The live performance will clearly demonstrate the effectiveness of your coding/trading using such a system.
  21. @Asaph, That is interesting. For +1 lot of 'Spot Gold' in December it was around £64.00 (sterling GBP) as I am based in the UK. So for +10 lots of 'Spot Gold' it was around £640.00 and for +100 lots of 'Spot Gold' around £6,400.00. By the way the above was via 'Spread Betting' which is not available in the US if that is where you are trading from.
  22. @AbDXB1345, I have never used the Demo account but it would be useful for those wishing to help you / give you advice on what specific issues there appear to be with the indices.
  23. @elle, The 'yellow circles' are interesting. It seems price has gone down after the yellow circles then followed by a move above it but it is difficult to read too much into them. Market conditions can be different, economic situation can be different, sentiment can be different and price behaviour prior to the 'yellow circles' can be different. Good spot though!
  24. @TheGuru12, Bitcoin has hit $4098.70 today. That was the high and the low was $3740.50. Thank you for the offer but I would suggest you make plenty of money yourself from your own coding and system. Please explain what 'authority' you have around some parts of the internet? I do not understand specifically what you mean by this. Why don't you share some live trades with the IG Community so we can all see how good/bad this coding and system of yours is? I think that would be more useful. Actually share live open trades with the IG Community using your own coding and system.
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