Crazy and out of control???
It’s been a bit of a crazy week. Actually make that a couple of crazy weeks.
Business project launched, crypto trading and market instability…
Indices dropped from their constant gains and the markets followed.
No one really seems to fully understand whats going on, especially not me and I am relying upon the knowledge of those who are wiser than me and more experienced in the markets.
Forex strategies haven’t been showing me any gains and as such I’ve mostly sat aside and let the markets decide what they want to do.
Crypto investing has shown losses as the overall market seems to be correcting itself since end of 2017 highs… which may have been hugely manipulated through Exchanges and BTC ties (see video below), as such, I’ve sat aside and transferred a lot of assets to EUR to wait for the market corrections take place.
Trading cryptos has so far seen me playing with fire. However, at current prices I can re-purchase all sold cryptos again and be back where I was in early February… possibly even hold more.
But, with the market looking likely to continue to decline, there’s more I can gain by sitting on the sidelines.
Today, the Crypto market cap dropped to below $300billion to a low of $275b. It’s just rallied back above again as I’m assuming people will see this as a great opportunity to enter the market.
Remember, this market has an estimated future value of between 7 to 10 TRILLION dollars, so it makes prices look a steal right now!
For me, I’m waiting to learn more about the current economic conditions. There’s talks if the market is just correcting itself after previous manipulations for price rises and also talk of the current decline being a big manipulation to allow institutional investors to get in on the cheap… and as cheap as possible.
Either way, the blockchain tech has a long way to go to change the world and how we operate. I’m a believer that investing at this early stage will help me financially benefit from it’s growth. I’m also glad I’m invested in educating myself through Siam’s Crypto Course and the ongoing support and knowledge from the group.
So, what has been good?
Some of the shorter term strategies have been good in forex! The RP strategy currently has me in 7 profitable pairs:
- AUDUSD (Short)
- NZDUSD (Short)
- EURJPY (Short)
- EURAUD (Long)
- CHFJPY (Short)
- AUDUSD (Short)
- USDJPY (Short)
I’m back to trading minimal £pp due to the market being volatile and it’s giving me valuable learning points about being aware of the greater picture. When markets are stable the current strategies are OK, but when volatile, they need to be checked against many different factors.
Short term future:
- Forex – continue to learn trading patterns and cross referencing them to good strategy signals. If in doubt, sit on my hands and do nothing. Use the RP strategy to profit from short term trends.
- Cryptos – Wait it out in Euros as the market continues to decline. Watch and learn trading patterns to better predict further price movement. Use the time to investigate solid company foundations and real world use for knowing where to invest and where to trade.
Watch this video and understand how the recent (2017 year end) Bitcoin boom may have been manipulated. I never did trust those Mcaffee tweets and Justin Sun’s tweets may have been along similar lines… I’m going to really look at TRX before getting back in and lets see what their “testnet” release does at the end of March.
A boring disclaimer… coz I don’t wanna be sued and stuff!
The information contained within this blog/website and any information contained in any social media account related to EXF Trading is intended for interesting reading only.
I am not qualified or considered an expert in any aspect of trading and the words which I write are my opinion only and not to be considered correct.
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