Different day the same sh..... story 😉
After the news out of binance today -FUD or not to FUD, there’s almost no point on trying to get to the bottom of the story as the damage has been done..- it just goes to show how speculative the crypto markets truly are.
All crypto are down across the board with XRP being the hardest hit at this point in time with more than a 12% drop.
This only reaffirms my position that as the crypto start to turn green I will be closing more of them, or once our risk score has dropped to 5 I will start hedge trading and using profits to off set any losses in closed trades as it raises back up that way I am protecting those that have been long term investors while those that have copied after the crypto free fall will have double Dutch profits! 💰
In the mean time I have implemented a shorter term trading strategy when ever the pivot points and moving averages are broken or bounce off while the volatility in the markets have returned in force in the markets! These small profits over time mount up and start to make a real difference to our total equity and the closed profits keep ticking over. The closed trades give a much better picture of the portfolio away from the crypto markets as the print takings have still been pushed through in the back ground.
Seems like the news out of the Whitehouse is starting to change slightly in tone about the trade tariffs as now there are mumblings about the tariffs being country by country. So if NAFTA pulls through and doesn’t fall apart there could be exemptions for Mexico and Canada. These are the two countries that provide the majority of aluminum to the states. Bear in mind that the midterm elections are coming up and he will want the republicans still in the house to keep the majority, ergo the tariffs being brought to light.
There are many out there that do not like Trump or Politics in general, I keep an eye on geo-politics and keep my personal views out of trading and investing. I hope that we -especially those in the UK that there are certain news outlets that do not give an impartial reports and I advise everyone to go and compare at least two different organizations to get a clearer and more balanced view.
Sorry I haven’t been giving as many updates and analytics as Mothering Sunday is right round the cover and to say I have green fingers would be an understatement!
However my time away from the markets has honed my Order setting skills and my TA of buy in and TP and SL rates along with trailing stop losses! This has been more useful in the DJ30 NSDQ100 SPX500
Should make for some very interesting times ahead! 💰