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Savvyscot

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Everything posted by Savvyscot

  1. A welcome move James. Is there any info/webinar material on how to use ig charts? Id be interested in learning more about charts.
  2. I certainly hope so...i need something spectacular to happen to neutralise my losses.
  3. Yep trading here is indeed risky. Tried to open long positions last night as price was rocketing to neutralise my running losses...but couldnt go long until price had reached very high levels...by which time id lost alot more cash already. Still feeding my shorts....hoping for a sharp decline sooner rather than later.
  4. Yes me too. I have been trying to open long orders to balance out my increasing losses from my two shorts but it wont let me. So im now at quite a loss - trades still running so im having to pump in cash continuously. Im hoping for a big btc dip very soon or im going to have to keep shifting cash to ig for losses and to set up long trades - when it allows me!! James @ ig can you guys not set up some sort of alert system so that folk that are trying to open a trade can be alerted that is not tradeable.
  5. Luigo your strategy sounds interesting. Care to explain a bit about the signals and automated trades. Sounds to me you are talking about something far more advanced than limit orders. Feel free to educate novices like me!
  6. I'm afraid i already have two short trades sitting at 11600 and 12000 respectively. Big oops. So im just pumping my account with funds to keep the losses running. Its not over until the trade closes (positive self talk). Iv been lucky over last couple months with just guesswork really but i could have saved myself alot of grief from some chart watching. I need to get to grips with how to use the ig charts in a meaningful way. I sure hope btc doesnt keep going on to 20k without a correction. Im tempted to open a long bet to try to negate losses but i think that would be tying up too much cash in btc trades. Looks like iv just got to hold my nerve and ride this one out, hoping for a big correction soon.
  7. Thanks for the info. I had the bright idea of opening up a lifetime isa and investing in btc and eth trackers, amongst others. HL advised not isa eligible so will hold them in a standard sharedealing acc (once price is right). 70% is a great return, although id have expected greater given what btc has been doing. Guess it depends on when you went into the tracker. A tracker beats buying the real thing and facing issues of wallets, security etc.
  8. Well observed. Look forward to corrections over xmas and hopefully some nice profits from shorting!
  9. Trendfollower, the bitcoin trackers that you refer to, are they HL products? And only available via HL? I am with barclays stockbrokers and they dont appear to offer access to any cryptocurrency related fund/etf/etc. May open acc with HL. Do you know uf the HL btc tracker is isa eligible? Thanks
  10. Chequeyour6 i hope by now you had a look at the helpful info shared by others and are up to scratch on basics. Some helpful hints for you from when i was a first time trader - may help you avoid costly schoolboy errors: * dont play it oversafe by setting up stop losses too close to opening level of your trade. High risk that it will trigger and you make a guaranteed loss * ensure you have enough in your account to cover big moves against your bet during volatility. As a novice, i had lost all a couple of times by cautiously not depositing enough and having responded to margin calls too late (margin call is just when ig alert you to deposit more funds). * don't be too optimistic by placing large bet sizes when inexperienced. Only trade what is affordable to you * hold your nerve when you see big losses on your account. You dont make a loss until the bet is closed. Psychology is just as crucial as market info. Happy trading.
  11. Based on your experience of bitcoin and the helpful info shared by james, when do folk predict the next btc crash will occur? And of what magnitude?
  12. Interesting post James...thanks for sharing. Im shorting (and losing) so i sure hope there is a big crash soon!! Taking into account bitcoin's dramatic surge in 2017 in the face of much criticism by big fish, i think many sceptics are now sitting up and taking notice...perhaps experiencing fomo. Given this, i predict buyers will flood in once there is fall in price. Driven by fomo. Bitcoin is too young and too important to die soon in my opinion. There are now bitcoin 'credit cards', talks of some major companies accepting btc payments, the mining network is huge, btc has integrated itself firmly into some areas of everyday life in some places. Too young to die yet. Bitcoin will be around for some time yet.
  13. Interesting. I too thought this year would see btc rise to around 5k...astounded by how fast its gone from 7k to over 12k. What is driving this pace? I think a fall is immiment, it must be. Will be interesting to see what happens next. The next fall will be followed by a surge i think as everyone tries to get in on a perceived discount.
  14. And it happened again half hour ago when bitcoin dipped. This does seem like a deliberate automated action whenever price dips to a very potentially profitable level. A possible solution iv found - being a savvy scot - is to have orders in the background (granted it eats up your balance with the margin). When price looks good edit to a price that will execute immediately. Voila!
  15. Agree. Been trying to set up buy orders for over 20mins now...market moving alot and i cant get in. Frustrating! Alerts as to when one can place an order would save a lot of time.
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