January 2018 - FaithMightFX

January 24, 2018January 25, 2018

ON THE AIR with F.A.C.E.

Happy new year to the Forex Analytix team! This team of traders are experts and veterans in forex trading. Many of them I have been following for many years on Twitter (@nictrades, @spz_trader, @forexstophunter) and even before there was a Twitter (@pipczar). But the F.A.C.E. community is also full of many expert traders as well as new traders. So when I am asked to come on the show and discuss my views of the market, I consider it quite an honor. The respect, questions and great feedback I get from this team and audience makes it such pleasure to return.

Dale has such great timing as I made my first 2018 appearance on F.A.C.E. right before the Great British pound went on this monster breakout today. I revealed a few secrets that even Dale admitted he hadn’t heard from me before on his shows. The specific levels have been left far behind after Wednesday’s price action but the trading principles I discuss can be applied even now. Enjoy the show!

January 17, 2018August 28, 2018

New Year, New Markets

Happy new year! It is 2018 and the only market that doesn’t sleep now is the cryptocurrency market. This is a brand new market being created right before our very eyes. What a time to be alive! No matter the asset or investment vehicle, human nature still reigns supreme. And in a pure market where human nature reigns (and not algos), technical analysis works so beautifully. But if you trade based on the news, you’ve been in for a wild ride. While the king of cryptos is Bitcoin ($BTC.X), 2017 saw an explosion in blockchain innovation that allowed many other coins to be created by just about anybody. This explosion in coins led to an explosion in wealth creation as buyers and sellers raced to the markets. Traders, investors and techies from the West to Zimbabwe have been making money in cryptos and everybody wants in.

Seeing the frenzy for information, I decided to host my first investment event, “What is Bitcoin, Anyway”. I rescheduled this event 3 times since September. I was originally going to talk about the importance of investing. (*yawn*) I forgot to order food. I also forgot to send out invitations. It was my first event! I was concentrating so hard on getting the talk and presentation right that the event production went right out the window. LOL oh well. Thankfully, my office is in a WeWork so the venue hid my blunders well. I had a good audience and the presentation was so well received that I was asked to do another.

Yes, I will have another crypto event despite the crash in cryptocurrencies right now all across the board. While I understand the hesitancy in buying cryptos, I also think it is irresponsible to write off any investment opportunity due to ignorance. However, it is also irresponsible to invest, in a market this new and still unregulated, alone or naive. Do as much learning as you can. Read, watch and ask questions. Hire an investment adviser. Get a mentor. Every investment story is the same, so always do your homework — trade what you see, not what you hear.

And stay tuned for my next event, First Friday Pasadena. February is the #crypto edition?

January 16, 2018August 28, 2018

Is It Really A Bloodbath?

Cryptos are finally making news today and not because of the a 3,000% move in a few weeks. No, every digital coin and token is down today and down BIG. It’s blood in the streets now that Jamie Dimon has repented for ever calling Bitcoin a fraud. Markets can be so ironic sometimes that it is poetic. Warren Buffet has to be grinning from ear to ear as he said it was going to end very badly anyway. He must also be buying but that’s a musing for another day.

Well, thankfully, I don’t trade off the news. You’d be in a pickle right now as to what to do with all those coins and tokens you bought yourself for Christmas. Confess now. We all bought some. The smartest of us only sold and even then, we sold too early.

The Fibonacci levels will tell you something different on different charts. So I’ll zero in on ethereum because ether is the only coin falling right now from all-time highs. Many of the alternative coins, the forked coins and Bitcoin itself have been consolidating lower since the 2nd week of January 2018. With the euphoric year that 2017 was for cryptocurrencies, you have to love the narrative already shaping for what 2018 will be. But looking at this chart, is it really a bloodbath yet?