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Everything posted by TrendFollower

  1. I am someone who is passionate about Swiss watches and have been for many years now. I find them fascinating. There are certain Swiss watches which are excellent investments. They are something you can wear and enjoy and they appreciate in value (only certain models of course). When there is a recession or economies are struggling around the world, their price appreciation (certain models) is astounding. Now I also have a keen interest in the Blockchain space from an investment perspective too. So when the two areas are collaborating and aligning then of course I am going to be interested. I am going to share a couple of articles which demonstrate what is happening at the moment for those who may be interested. WATCHES OF DISTINCTION TRACKED ON THE BLOCKCHAIN https://icoexaminer.com/ico-news/watches-of-distinction-tracked-on-the-blockchain/ World’s Oldest Watch Manufacturer to Use Blockchain for Tracking Timepieces https://cointelegraph.com/news/uk-financial-watchdog-warns-public-of-crypto-clone-firm Swiss Watchmaker Franck Muller Launches ‘Functional’ Bitcoin Timepiece https://www.coindesk.com/swiss-watchmaker-franck-muller-launches-functional-bitcoin-timepiece
  2. Bitcoin Cash is one the potential benefactors of a general improvement in market sentiment for the Cryptocurrency asset class. It is one of the better performers along with Litecoin since the start of the year.
  3. Those of you who follow my threads will appreciate that I keep things simple taking into account the wider IG Community and my potential audience on this platform. There will be some of you who apply more technical analysis on Cryptocurrencies but I just keep it simple and primarily based on price action and trends. It seems to have worked for me so far. Now Litecoin is up around 200% since the start of the year. Can anyone show me an asset they could have traded or indeed have traded in this same time period which would have delivered better returns? Litecoin at the start of 2019 was trading around the $20 - $30 range. It is now above $100. There are times when one must the fundamentals, one's personal views, emotions and stubbornness to one side and trade the price action in front of us and try and profit from it as much as possible. This is regardless of what our personal opinions, thoughts and feelings may be of a particular asset. Trading at times requires a level of ruthlessness. The best football strikers in the world are ruthless finishers. They anticipate the potential of a pass and will make the run and if the ball is delivered then they will have a good chance to score. Trading requires this anticipation. It requires making a move based on the current price action and what is likely (not guaranteed of course) is going to happen next. The trader will then execute the trade and attempt to profit regardless of what the media is reporting, what others are stating, etc. The Litecoin 'halving' is going to occur before Bitcoin's. It is going to occur this year and Bitcoin's next year. I accept this may attract a lot of speculators, gamblers, etc. This may well pump the price to levels not sustainable and create yet another bubble. But one must embrace any bubbles as they are fantastic opportunities to profit from inefficiencies in the pricing of an asset.
  4. KR1 PLC is another company which is the blockchain space and blockchain is gathering some real momentum and traction at the moment. The share is listed on the NEX Exchange where generally stocks are illiquid. It seems that the large decline has occurred in line with the broader Cryptocurrency market. It seems the consolidation period has occurred. There has been recent upside and this could potentially be just the start. I stress potentially and the fundamentals may not translate into share price appreciation. From a value investing perspective it seems like an attractive entry point for those who were not savvy enough to enter near its lows. I want to share the following recent article in relation to this company below: KR1 aims to capitalise on blockchain revolution https://www.proactiveinvestors.co.uk/companies/news/220238/kr1-aims-to-capitalise-on-blockchain-revolution-220238.html Another article I want to share is in line with the previous post I submitted on this thread. KR1 Plc 'thrilled' investment in Cosmos beginning to generate 'significant' yield https://www.proactiveinvestors.co.uk/companies/stocktube/13367/kr1-plc--thrilled--investment-in-cosmos-beginning-to-generate--significant--yield-13367.html Now in the grand scheme of things this is a very tiny company (acorn one could argue). It is not a small cap. It is even smaller. It not a micro cap. It is even smaller. It is a 'Nano Cap'. Therefore it is extremely high risk and is operating in a niche area. This is not an investment to be considered for those who do not have an understanding of the potential and the great risks associated in investing in this area along with the high level of risk tolerance required. For those who do have an interest / passion and knowledge in this area may be interested in such a company.
  5. The blockchain space is beginning to gain real momentum and traction. Coinsilium listed on the NEX Exchange is a company with real potential going forwards. I must stress it is real potential so that may not translate into share price appreciation but from a value investing perspective it seems like an entry point consideration period. The decline has occurred in line with the Cryptocurrency market in general. It seems to be in a consolidation period. I must point out that companies listed on the NEX Exchange are generally illiquid stock so one must be aware of this. I am going to share a recent article that may help those interested in the space and this company in particular. Coinsilium “exceptionally well positioned” as blockchain space matures https://www.proactiveinvestors.co.uk/companies/news/220446/coinsilium-exceptionally-well-positioned-as-blockchain-space-matures-220446.html
  6. Litecoin seems to be the least down this morning so it is showing some strength and resilience but for how long who knows. It is still trade above the $100 mark which is encouraging but can it hold that level?
  7. Bitcoin Cash is still above the $400 which is encouraging. Bitcoin Cash's price is above its 20, 50, 100 and 200 DMA. Its 20, 50 and 100 DMA curves are sloping upwards which is bullish. It seems its 200 DMA curve is beginning to show a sideways position which is slowly reducing the risk of a big downside move though it can still happen of course. The 200 DMA curve sloping upwards would be a bullish long term trend indicator.
  8. Bitcoin seems to have resistance at around the $8000 - $8200 range. If it breaks through then it is going to be when traders least expect it. So what ends up happening is that traders have been stopped out due to the extreme volatility and are not in the position when the sharp upward move comes thus missing out. There also seems to be support in the $7000 - $7700 so any drop in this zone may be a potential entry point for those who have not entered or do not already have a trading position in Bitcoin. Of course the risk remains that this goes down to the $6k to $6.7k levels but Bitcoin seems to be bullish, seems to have momentum, the trend is strong, the chart and technicals are showing 'positive bias' towards an upward move.
  9. Bitcoin is trading above its 20, 50, 100 and 200 DMA and is over $8000 at the time of writing this post. You will have heard me mention about the 'Upward Sloping Curves' for the Moving Averages. Well the 20, 50 and 100 DMA's curves have been sloping upwards for a while now which is a bullish indicator. However, what has started to happen (and this can only be spotted if you monitor the price action daily) is that the 200 DMA is beginning to look like it could may begin to start sloping upwards. This will be a very bullish long term indicator. I include the chart below to illustrate this point. Now trading Cryptocurrencies is extremely high risk due to the extreme volatility. However if you can monitor the price action and look at certain basic indicators to help provide you with signals to use then it can be as simple as you want it to be. If you look at the chart below then you will see an increase in the volume both on the upward moves and the downward moves which supports the current price action both (upwards and downwards). Bitcoin is looking more likely to try for $10,000 than it is to try for $1000 or zero in my personal opinion. Of course this is Bitcoin and it could drop to $7k or even $6.5k over the course of just a few days with large drops so nerves of steel is required and a high tolerance to volatility and risk is needed.
  10. Bitcoin Cash is up nearly 4% and is performing around 1% higher than Bitcoin at the moment. It is around the $424 area. Bitcoin Cash is another Cryptocurrency which seems to have another leg upwards in the locker if it can be unlocked.
  11. Litecoin is up 16% and I think it really is going to be the one to watch prior to the August 'halving' as I have mentioned in my previous posts in this thread.
  12. @johnt4917, @nit2wynit, @dmedin, Different traders can have different strategies and still all be successful depending on how one defines success. A lot of traders define success as having more winning trades than losing trades. My strategy incurs at times more losing trades than winning trades. However, the key measurement of how I personally define success is to ensure that the profit from my winning trades is greater than the losses on my losing trades. A consistently profitable trader could be deemed as having a successful trading strategy if this is demonstrated over many years. Some traders who consistently make higher profits than others over many years could be deemed as having a more successful trading strategy. So if for example I trade 10 times and 7 are losing trades and 3 are winning trades then that is a 70% failure rate and 30% success rate. Now some may deem this as an unsuccessful trading strategy. Now what if the profits on my 30% of winning trades were far greater than the losses on the 70% of my losing trades. If this was achieved consistently over many years then it changes the dynamic of how one thinks about a successful trading strategy. Your personality, mind set and psychological approach to trading has a big influence on the type of trading strategy one ends up being more comfortable with and adopting. It is about finding the right trading strategy that suits you (we are all different) and then really fine tuning it to ensure it meets your trading goals and objectives. Once this is understood then one will quickly realise that there is no professional or amateur on IG Community but just traders. Some will be more experienced that others. Some will apply far more complex trading methods and conduct far more technical and challenging analysis. However, this does not mean they are more profitable or are making greater profits than those who are not.
  13. I do not use EToro mirror trading and never have but am aware they offer it. Mirror trading is not something that I am interested in but they aggressively marketed this for Cryptocurrencies a while back. I I agree with a lot of the comments from @PandaFace. There is nothing like trading in a live account with real money. Trading is very difficult and learning to cope with and accept losses is an area where a lot of traders struggle and eventually give up after losing a lot of money. There is no substitute for hard work and following markets and price action carefully. Using fundamental analysis and linking it to technical analysis to really understand what’s happening is crucial to any trading strategy adopted.
  14. @dmedin, eToro offer Mirror Trading opportunities.
  15. @dmedin, I cannot speak for others but I am not a full time trader. I am an investor first and foremost. I only trade if I identify a strong trending opportunity. Otherwise I am on the sidelines monitoring prices. So this may mean a few trades a month or even no trades a month depending on if the trends identified meet certain indicators / signals. There are traders who trade full time and are successful. The traders I know have one thing in common. They are very good at Mathematics. They have a superb Mathematical brain and can apply this to their trading models. Now that does necessarily mean one must have to be exceptional at Mathematics to succeed and be profitable in trading. It is just that those traders I know who are full time and successful happen to be exceptional at Mathematics.
  16. This is an interesting article which I want to share with those interested on the IG Community. Generation Bitcoin: 90% of Millennials Prefer Crypto to Gold: ETF Expert https://www.ccn.com/generation-bitcoin-90-of-millennials-prefer-crypto-to-gold-etf-expert
  17. What is interesting with Gold is that fundamentally the stage is set for Gold to motor upwards but technically the price action is not in line with the fundamentals. So the question is why? The US Dollar is one of the main reasons. Another could be that the demand needed is not there as capital is being allocated to other assets with Bonds being a potential benefactor, Equities being another and Cryptocurrencies being injected with more and more capital. What worries me about Gold is that if it is a the go to 'Save Haven' then why is capital not flowing into Gold and why is the Gold price not shooting up? It is being reported that the SPDR Gold ETF has experienced its largest outflow since 2016, with an outflow exceeding $926 million in the first week of May alone. Why is this? Now it could be that Gold is due a monster move which is coming in the weeks and months going forwards and what we are witnessing is a period of quite before the fireworks. I do not know but Gold is not reacting like textbooks suggest it should.
  18. Rough Rice went up 246 points today and was up around 2.18%. There is a clear breakout. Trend identification is key. I do not know if this trend will get stronger or manifest itself into one hell of a 'Long' trade but identifying key trends to monitor is crucial to a trading strategy. This could lead to a potentially profitable trade. It does not matter which asset you are trading. The important point is that it is trending strongly and that you identify it as early as possible. If one can utilise leverage to take advantage of points per £ and the directional move is in your favour then it is about maximising potential profits against risk. I include the latest chart below. Rough Rice is trading above its 20, 50, 100 and 200 DMA. This is a bullish indicator signalling a 'Long' trade. The volume (green bars) supports the price action and strong recent move upwards. This is another strong signal. I include the chart below to illustrate this point. The Parabolic SAR is also showing the price above the green dots which is yet another bullish indicator. I include the chart below to show this point. Momentum is another key factor and this also shows in the favour of Rough Rice and I include the chart below to show this. Now all the above things can be used in your 'trading basket' to aid you in making an effective as possible trading decision. Using the above will not guarantee that your trade will be both successful or profitable. What it can do is allow you an opportunity to trade with the trend rather than against it and increase the odds and probability in your favour. You will notice that I have not included anything too technical or complex above. These are all indicators available on IG's platform. Your trading style can be as simple as you want it. Trading does not need to be complex or difficult that very few can understand.
  19. @johnt4917 and @nit2wynit, I think @dmedin makes a valid point. There are enough good books out there in relation to trading that means if time, effort and dedication are applied then a lot of knowledge can be acquired. As they say 'Knowledge is Power'. Experience will only come with actual trading but one needs to acquire knowledge first and this can only come initially with reading and research. If one can network with real people who are traders then this can add significant value. When I mean network then I do not mean someone on the IG Community but real people in front of you. The reason why I say that is that no one on the IG Community knows the other so no one really knows if anyone is successful or profitable. Anyone can post including myself on IG Community but that does not make us experts or successful and profitable traders. One must be careful as just following anyone on IG Community (and I include myself in that) presents a risk, especially if those who you are following are just telling you something they have read on the internet and rehashing it back on the IG Community as their own analysis. In my personal opinion, a very successful trader, who is very profitable, would not be spending many hours on the IG Community. We all only have 24 hours no matter how successful or unsuccessful we are. Can a trader who is really that good justify spending a long time on IG Community? So the inference one can make is that I am not a very successful trader who is very profitable! LOL. 😂 I do spend quite a bit of time on the IG Community and maybe I could better spend that time really improving and fine tuning my trading activities.
  20. The US Treasury Bond is up 168 points and 1.13%. The US Ultra Treasury Bond is up 259 points and 1.55%. They are the stand out performers today but Bonds in general have been in the blue and performed well today.
  21. @nit2wynit, @dmedin makes an important point. Those who trade with very deep pockets have an advantage. They can set a more distant stop loss and absorb trades for longer which go against them compared to a trader who has very little capital. This is a very real and a very important issue for you going forwards.
  22. Gold is trading at $1284 and seems like my gut feeling / instincts were right. When you follow the price action, you end up living and breathing the asset which can help with trading decisions. It still does not guarantee success but being in tune with the asset is a vital ingredient when trading.
  23. @nit2wynit, There are many times when the days trend is different to the longer term trend and so it is very difficult with certainty for that day whether the trend is going up or down especially if you place a trade early in the morning. No one knows with any certainty how the trend will manifest itself as the minutes and hours pass. Day trading is very difficult and so I would still advise executing small trades and really test your strategy first with smallest amount possible on margin before placing larger trades and before risking more capital. Try and find the most liquid shares on say the FTSE 100 with high volume and really test your trading with small trades.
  24. @nit2wynit, I would not advise going all in on margin. Learn to make lots of small profits and build your experience and confidence first. Devise a trading system which can work for you. This may take a bit of time but you will appreciate it in the longer term. The big risk you have is blowing your capital and your trading account. Have you thought about risk management and how you are going to set your stop losses to minimise your risk on each trade? I would only suggest allocating a certain part of your available trading capital for the day to any one trade, at least initially until you can confidently and successfully make more profits than losses on a consistent basis. No problem and all the best.
  25. Gold seems to be trying to reverse its recent bearishness. It is trading currently at $1277 and seems to have found support around the $1270 level as I have discussed in my previous posts. Now I have not done anything to clever here. All I have done is follow the price action on a daily basis. When you do this and look at it via the charts then it is not difficult to find price points which offer support to the Gold price. This is particularly important to shorter term swing traders. Gold itself is still in a downtrend but there could be short term relief where the price tries to go up with UK political instability, Brexit and US-China trade issues. The US Dollar will be critical to all this. So there is the potential for a short term 'Long' Gold trade but like I say the current downtrend since middle of February 2019 is still in play at the moment.