Cyprus-Forum.com

[miltiades]

Just a quick update folks.
Yesterday I sold Tomtom at 10.16€ and bought Kiadis at 5.62€. Sensing when it is right to sell or buy is of the utmost importance. Kiadis up now, in 48 hours up to 6.12 euros, I could sell now and pocket around 500 euros, however that instinct tells me to hold on a few more days. It's not greed is just the fun of knowing your instincts proves you right.
XRP still at around the 0.40$ mark. It will go , my ....instinct tells me.
Please do not just take my word . Do your own analysis and remembering you consider any investment only lodge what you can comfortably afford to lose.
Cheers guys

[erolz66]

Stay away from bitcoin. In January this year it reached 10,000 € , right now just over 5000.
Ripple is the one to look out for.

In USD

Nov 1st 2018

XRP - 0.49268
BTC - 6414

04 Jul 2019

XRP - 0.40256
BTC - 11783

Sorry Milti, nothing person, just saying

[miltiades]

Stay away from bitcoin. In January this year it reached 10,000 € , right now just over 5000.
Ripple is the one to look out for.

In USD

Nov 1st 2018

XRP - 0.49268
BTC - 6414

04 Jul 2019

XRP - 0.40256
BTC - 11783

Sorry Milti, nothing person, just saying

Yes erolz, I did say earlier that I was wrong on Bitcoin. No one can possibly be right every time, if I was able to predict correctly a stock I would be a multi billionair. I do aim to get 6 out of 10. Having said this , day before yesterday I sold Tomtom at 10.16€ today is trading at 9.90 so my decision to sell was correct. Kiadis Pharma currently at 5.93€ having reached 6.12 a day or so ago. I bought at 5.56€.
As XRP , trading now at around the .40 $ mark , Im happy to let this one ride.
Galapagos, one that I sold a little while ago at 109.90 € , staring at the time that I believed it would rise further is trading at 121 euros. . Interesting times ahead !!

[erolz66]

Yes erolz, I did say earlier that I was wrong on Bitcoin. No one can possibly be right every time, if I was able to predict correctly a stock I would be a multi billionair. I do aim to get 6 out of 10. Having said this , day before yesterday I sold Tomtom at 10.16€ today is trading at 9.90 so my decision to sell was correct. Kiadis Pharma currently at 5.93€ having reached 6.12 a day or so ago. I bought at 5.56€.
As XRP , trading now at around the .40 $ mark , Im happy to let this one ride.
Galapagos, one that I sold a little while ago at 109.90 € , staring at the time that I believed it would rise further is trading at 121 euros. . Interesting times ahead !!

For what it is worth, which is probably not very much, I do not think that a background in and experience of trading stocks and shares can be applied to crypto currencies. In some ways it may actually be worse to have such a background. They really are totally different 'asset classes'. I say that as someone with no background or experience of trading stocks and shares but with some small experience of trading in cryptos.

[Maximus]

All markets work the same way,

They work on supply and demand. This is what drives the price.

What changes from one market to the next are the fundamental drivers that can influence supply and demand over the medium to long term. With stocks, you would look at the balance sheet, cash flow forecasts, mergers and acquisitions etc. with foreign exchange, you would look at employment data, inflation, interest rates etc. I’m not sure about crypto, that’s a different beast all together.

Then you have technical analysis. This is basically the analysis of price charts and using them to predict future price moves. Such as price patterns and using other cheap vs expensive indicators derived from the price.

Technical analysis is a transferable skill to any asset class.

Fundamental analysis has its own unique drivers depending on the asset being traded.

Ultimately, you can do well in the financial markets if you can correctly analyze things in terms of supply and demand. But the caveat is, that it is very difficult to do and it’s impossible to be right 100% of the time.

[erolz66]

I’m not sure about crypto, that’s a different beast all together.

Exactly my point. For me personally I 'value' cryptos based on their utility and use. If they allow people to do things that they can not do without that crypto and people want to do those things, then that creates value - real value, not speculative.

Technical analysis is a transferable skill to any asset class.

But does it work ? Does such analysis really allow you to predict the future any better than just tossing a coin ? Like I say this is not an area I have any specialist knowledge in but I read daily articles that claim the technical analysis indicates an upward or downward movement or 'pressure' and then exactly the opposite happens. As a layman having watched the price of bitcoin I can say with a lot confidence that any time there is a large parabolic movement upwards, there will be a corrective downwards movement as a result. However knowing this really does not help you 'make money' without knowing where the 'top' of the upwards movement will be, when the 'correction' will come and how far will it correct and all on what scale. I also struggle with the idea that if such 'tools' really do 'work' then why is it that those who have such tools do not own the entire world ? Surely they would only have to work 51% for the people who have such to own everything and if they do not work 51% or more, then how are they better than tossing a coin ?

[Maximus]

Technical analysis is a transferable skill to any asset class.

But does it work ? Does such analysis really allow you to predict the future any better than just tossing a coin ? Like I say this is not an area I have any specialist knowledge in but I read daily articles that claim the technical analysis indicates an upward or downward movement or 'pressure' and then exactly the opposite happens. As a layman having watched the price of bitcoin I can say with a lot confidence that any time there is a large parabolic movement upwards, there will be a corrective downwards movement as a result. However knowing this really does not help you 'make money' without knowing where the 'top' of the upwards movement will be, when the 'correction' will come and how far will it correct and all on what scale. I also struggle with the idea that if such 'tools' really do 'work' then why is it that those who have such tools do not own the entire world ? Surely they would only have to work 51% for the people who have such to own everything and if they do not work 51% or more, then how are they better than tossing a coin ?

Excellent observations and very good questions.

There is a camp that exists that believes that technical analysis is useless.

There is another camp that believes that it is useful. Technical analysis is quite a vast subject of trading and most (practically all) retail traders use it. Most people lose money consistently trading or investing too so you can go figure.

You can’t make money doing the same thing as every body else.

Basically, to use technical analysis well is to identify patterns in price that have happened frequently enough in the past and watch for price to set up in real time in a similar way. Then trade or invest in the direction that you would expect the pattern to (probably) complete.

So you have also observed that the media often gets it wrong. This can also be used to your advantage by trading the opposite to what they are suggesting.

Being successful in the financial markets is about being in the minority or contrarian opinion. You don’t want to follow the heard with the popular opinion.

[Maximus]

You want to know a simple way to potentially make money from trading financial instruments?

Get 10 people to give you their opinions on a stock or currency pair etc. with stop loss and take profit prices. Then do the exact opposite.

Brokers seldom lose from taking clients orders.

[erolz66]

Being successful in the financial markets is about being in the minority or contrarian opinion. You don’t want to follow the heard with the popular opinion.

I just try and make sure I sell at a price that is higher than I bought at and wash and repeat

trade.JPG

That is some of my 'trading' on the Bitcoin Cash / Bitcoin pair. Green dots are my 'buys' and red dots are my 'sells'

[erolz66]

I also do not do 'stop losses' . I just do 'patience' and 'hope'. That is if I buy and the price drops I just wait (and if necessary wait and wait and wait) and hope the price goes back up. Not particularly sophisticated I know but then I am not a particularly sophisticated person and certainly not a strategy I would claim guarantees success but so far it has not worked out too bad for me.

Here is some of my ZEC/BTC trading (Zcash / bitcoin)

trade2.JPG