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TrendFollower

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Everything posted by TrendFollower

  1. @dmedin and @nit2wynit, I agree with @Caseynotes that TA is not trading. It is something that can be used to help make trading decisions but they provide time lagging indicators. The signals are based on historical information which may manifest itself into predicted patterns and trends or may not. Anyone starting out and is a new trader then I would suggest trading with a longer term time horizon and use this to learn and gain experience at the same time. What you need is to be clear what trading methodology you are going to adopt and which asset you are going to trade. I would advise pick one and try and master it as best as possible. There is no such thing as the perfect trader or perfect trading strategy. You will make losses and this must be accepted and embraced and you move on. Try and keep losses to a minimum. Capital preservation is key. So your risk management strategy must be sound. Treat it like a war and you have to defend your capital at any cost. To win the war you must increase the value of your capital.
  2. Guest Gary, No one can know for sure that Palladium will hit $2000 this year which is in the next six months or so. How do you know there is very little physical stock? Are you able to share the credible source? I accept there may well be supply issues in Palladium but that is very different to very little physical stock. You may be right, I do not not know but you will have to offer an article or a link or something more than just words on this one to support your comment. The current price action is bearish and downwards. So one could flip your comment and suggest to be careful if you go long!
  3. Bitcoin Cash may try and go for the $450 mark again but it really needs to stay above $400 which it has still be struggling to maintain for a few days. The low today was $399.90 so it will be interesting to see if that is the last time for the foreseeable future that it touches a price intraday below $400.00.
  4. Litecoin is struggling to stay above $100.00. It seems primed to have another go. It seems to me that Litecoin in moving in positive correlation with Bitcoin prices. Bitcoin is moving upwards right now so I would expect Litecoin to follow. I shall see what has happened overnight in the morning tomorrow.
  5. Ether looks like it wants to break out. As my previous post states it hit $280 level. The chart looks primed for this price point to be revisited. The question is will Ether be able to break past it?
  6. Bitcoin is back over £8k at the time of writing this post. If anyone is interesting in trading Bitcoin then one must try and follow the price action of Bitcoin on a daily basis. There is nothing like good old fashioned following the price on a daily basis. This will help you get in tune with the behaviour of Bitcoin's price, how it behaves to certain types of news, spot patters and trends emerging, etc. If you are someone who trades from a price action perspective then I think one must not get bogged down too much on whether you think Bitcoin will succeed or fail. One must not get emotional or let their ego get the better of them. One must simply trade based on the price action and the trend manifesting itself in-front of them. Ignoring Bitcoin and some of the other stronger trending Cryptocurrencies is like a trader stating they want to trade and make profits and trade the strongest trends but not Bitcoin or Cryptocurrencies because they may fail or not exist in 5 or10 years time. One must trade based on the price action now and not get bogged down in what may happen in 5 or 10 years time.
  7. Visa Token Service expands in Europe https://www.finextra.com/pressarticle/78472/visa-token-service-expands-in-europe A lot of investors are not realising that tokenisation is happening now. There are a lot of interesting start ups in this space.
  8. A very nice price by the Imperial College, London. 10 questions about blockchain https://www.imperial.ac.uk/news/191271/10-questions-about-blockchain/
  9. Japan trying to push through new Crypto regulation. If reports are correct then Japan really has led the world and embraced Blockchain which is the technology underpinning Cryptocurrenices. Japanese Parliament Moves New Crypto Regulations to the Upper House https://cointelegraph.com/news/japanese-parliament-moves-new-crypto-regulations-to-the-upper-house
  10. @nit2wynit, First of all if there is no appropriate trade identified then do not feel obliged to trade. It is fine to go through days not trading if nothing hits your criteria. In terms of what to trade well that is down to you. You should try and identify the strongest trending assets to spread bet. The reasons why they must be the strongest trending is due to the spreads and potentially any overnight costs should you hold for a period of days or weeks. If you do not feel comfortable with spread betting then do not use it, simple. If you make a wrong trading decision then it is not the fault of spread betting. For example, Cryptocurrencies have been trending strongly. Certain commodities are trending strongly downwards. If you have a look at the charts on certain crypto’s and commodities then they will not be too hard to find and will not take you long at all.
  11. Though Gold did touch that $1269 price point it soon bounced back up to $1274 level which is where it is at the time of writing this post. Gold seems to have support at that critical $1270 level as I have mentioned before. The unconventional triple bottom is signalling that it will take something slightly more than the current environment for it to fall and stay below this level but let’s see as I cannot be certain that level will continue to hold. However there have been several attempts to go below this level which have failed so there is some support there and could prove to be a sign of strength. Again it is at that point where is really could move either way depending on news and the US Dollar.
  12. Gold has hit that important $1270 level again today. This in my opinion is a key level as either this level will be breached by a further move downwards to it will offer support for Gold to bounce back upwards. I have no idea which way it will go but following the US Dollar may give some idea on Gold's future direction.
  13. Certain states within the US are very pro Bitcoin and Cryptocurrencies and have embraced Blockchain technology. Taxing Cryptocurrencies could be perceived as a positive step towards legitimising and potentially regulating Cryptocurrencies. IRS Says It Will ‘Soon’ Issue Crypto Tax Guidance in First Since 2014 https://www.coindesk.com/irs-says-it-will-soon-issue-crypto-tax-guidance-in-first-since-2014
  14. @dmedin, I agree. Part of trading is about anticipation and being aware of certain scenarios that could play out even before they actually happen. There is nothing wrong with this. There will be times when you are right and times when you are wrong. None of us can predict the future price action with 100% accuracy. Yes, the potential shorting opportunity exists. The traders who are aggressive and have a higher risk tolerance will open a short far earlier than someone who is not. In fact some of them may already be 'short' and already in profit. Sometimes when using signals and indicators it alerts us after the price has already reacted so most of the profit can be missed. I am not encouraging others to take a higher risk than what they are comfortable with. Everyone will have a different risk tolerance. If you look back at why my trade was unsuccessful earlier on then you will see it was timing. I entered too late and therefore left the trade too late. Those who entered as early as possible would have been profitable and left the trade a lot earlier. Downward moves generally are shorter in timescale than upward moves and can be sharp / quick. So getting in early and getting out early is crucial when 'shorting'. My experience in Commodities has taught me that and I think that is one of the mistakes I made on an earlier 'short' on this trade. I entered too late and exited too late.
  15. @dmedin I agree. I have openly said that Gold as an asset is not something I am positive about long term going forwards. Also as an investment I am not too keen on it either. There was a trading opportunity for Gold from August 2018 which I participated in. Yes, IG do seem to have a Gold post every other day if not every day highlighting the basic price action thus potentially trying to encourage its clients. There are better and more stronger trending assets than Gold. Also one must not rely on luck or hope when trading. The trend clearly from a 'daily' chart perspective is downwards and has been since the middle of February 2019. Are people too late to 'short'? Time will tell.
  16. To offer some balance on this thread I came across this article which was rather interesting. Why are Indians falling out of love with gold? https://www.economist.com/the-economist-explains/2019/05/20/why-are-indians-falling-out-of-love-with-gold
  17. Let me get back to the seriousness of this thread. The price action last week indicates to me that the US dollar is one of the biggest influences on the direction that the Gold price takes. I mean the price action could continue to be bearish and go down from here should demand for the US Dollar increase from safe haven demand and if the US Economy shows that it is strengening. One must factor in geopolitical risk too. If the Gold price is going to increase then it may require the situation between the US and China worsening in relation to trade talks or even the latest military scenario between the US and Iran. Now Gold is currently trading at $1277 level. It hit $1273 earlier and for me that $1270 is still a key short term price point to be aware of from the 'daily' perspective. Only if that is broken on the downside could there be further bearishness. I do not know what is going to happen going forwards so it is certainly fascinating. I think any bad news could see the Gold price rise and positive news could see the Gold price continue declining. Very uncertain times for Gold right now.
  18. @Caseynotes, This is a Gold thread so if you are going to advise others to keep it thread related then you must adhere to it yourself. What is your correct and sound analysis on Gold? That is what this thread is in relation to. I am not interested on USD/JPY on this thread as that has nothing to do with trading Gold. If you are going to post on this thread then add some value on trading Gold. What are your thoughts. I want to see your sound analysis and actually see how it plays out going forwards. So how are you going to trade Gold and we will all follow this trade closely and lets see how your sound rationale and analysis leads to an effective entry point and profitable exit point. Just remind me and others what your trading style is again as I honestly cannot remember. Are you a swing trader or a day trader? Or do you use another trading methodology?
  19. @Caseynotes, First of all, why don't you offer correct and sound analysis in terms of real trades that have real value to the IG Community. I am not encouraging anyone to lose money. I have no such history on this forum as I shares two live trades in the past and one was profitable and the other was not. You are just trying to belittle me. Why not stick to this thread and share some real insight.
  20. @Caseynotes, I shall stick to this thread and keep it related. So Crypto Roundup. Your last post (above) what is the difference between your post and the prices when I go to IG's platform and look at the Crypto prices? Do you see something that we do not?
  21. @Caseynotes, You are totally twisting my posts which is just plain wrong. I do not post trade advice and I am not suggesting anyone follows my potential trading suggestions. It is merely to engage in discussion. I am not looking for anyone to teach me how to trade. You are totally making assumptions and misrepresenting my intentions. Of course I can learn and improve just like anyone else as I am not a professional trader nor am I an expert. I am not looking for an education. If I want to learn then I am aware of what I must do. @Caseynotes, what makes you more higher qualified than anyone else on IG Community? As I stated before, there is no substance behind you. You shy away from actually offering anything credible. I used to have a mentor thank you. He helped me a lot during my early years of trading. In terms of investing and building investment portfolios and creating long term wealth then I am actually a mentor to others. A mentor in trading would be someone successful, knowledgable, experienced and profitable. Not everyone knows someone like that hence the IG Community. Others cannot ask you to be their mentor as you post theory and analysis but where is the substance behind it? There is no actual trade where one can measure you. My Gold and Silver live trades were both profitable. My short on S&P 500 made a loss as my stop loss was triggered but it was initially well into profit. We all know what happened on that trade. You simply move on. I don't even think about those trades. I have traded Lumber, Orange Juice, Bitcoin, etc. They have all been profitable. Yes, I have made losses too but that is trading. All you can do is go back to my two live trades I shared and judge on that. What can people judge you on? Nothing as for all your posts after posts after posts they offer nothing of substance in terms of real trading that you are doing. No one knows what you trade and when. You are just hiding behind theory in your posts. Anyway sticking to this thread what do you think about Gold both 'Long' or 'Short'. Why don't you actually offer something credible to the IG Community. You see the reality is that none of us know what is going to happen in the future. So we make assumptions that we test. We will be right sometimes and wrong the others. What are your views on Gold going forwards? Share your wisdom, intelligence and superiority with others on IG Community if you know better. Let's stick to the thread topic please.
  22. @Caseynotes, Who is instigating all this? You are. We agreed we would stay out of each other's way. You stay away from me and I shall do the same. End of. You decided to re-appear and begin to try and belittle me. I suggest you stop trying to belittle me and stop trying make yourself superior to everyone. You are not the almighty that knows everything and is always right. I am sure you have trades that fail. I am sure you make incorrect trading decisions. Even with your sound rationale on every trade you will be making losses as even the professionals will. You are not a professional as a professional cannot spend the time you do on IG Community even with an automated trading system! Sticking to this thread. I shall ask again. What Crypto's are you invested in? Which Crypto's do you trade? What do you actually think of Bitcoin? My thoughts are open and out there throughout my threads in relation to Cryptocurrencies and Blockchain and I have been posting for a few years on this.
  23. @Caseynotes, I see you just cannot answer simple questions yet again. You are very good at side stepping. Have you considered politics? LOL. I am just fine and content trading Crypto’s thank you. Of course there will be things I can improve on, who can’t? What Crypto’s are you investing in or trading? It is not a difficult question! Oh sorry you do not have time to trade Crypto’s as you are too busy replying to your own posts on your own threads to build up your post count!!! Are you offering mentor services? It would be good to see you suggest a trade as it is easy to belittle others. What do you think of Bitcoin? Do you believe in Bitcoin? What do you think of asset tokenisation? What do you think of borderless payments?
  24. @Caseynotes, You are all talk and words. Talk us through a real time live trade and let’s see your sound rationale. You state you have sound rationale for every live trade. They are just more words. Posting the most content does not make you any more profitable or credible. I have stated on many posts that I am an investor first and a trader second. My main focus is investing and I have been investing for a very long time now. The two live trades I posted were just to encourage others on IG Community to share their live trades and nothing more. They were just some fun and play trades. Don’t read anything more to it or make assumptions. I have my own trading system and it works for me. Of course one can always improve but it suits me just fine. Unless you can offer anything credible or with substance then what makes you better than any other trader.
  25. @dmedin, Yes, there is a lot of information available which we can all access if we wish to. Personally in my opinion, a serious trader, should not rely on others and people they do not know to acquire knowledge. They should be finding the reading material themselves and learning. If they read something they do not understand then they should be asking questions to say the IG Community to see if anyone can explain. They should not just take any answer given as fact and should test it, challenge it if necessary and really question what they are learning. If a serious trader cannot find reading material themselves then I do worry how they are going to ever succeed in trading markets which is extremely difficult and full of risks day after day and hour after hour. Some of the basic questions that are asked on the IG Community are worrying. I accept that these are new to trading but I think it takes a certain type of personality, mindset and strength to last a long time in trading. Spread Betting is not for everyone. In fact I would suggest anyone new to trading to stay away from Spread Betting until they acquire more knowledge and experience in trading and are able to test a trading strategy which is able to utilise any Spread Betting platform.
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