Thanks to the charts I was able to convert from YFI after it gave me an 80% return but started slowing down and dropping, printing its first red candle in like 2 weeks when viewed from a 1-year time frame.
I am back in XRP, Ethereum snd Bitcoin which has past its threshold and is only 7% from all-time high, so a bull run is coming (a 30 percent drop is still on the horizon), as there have only been 6 days in this whole year, that if you bought bitcoin you would have ended the day at a loss. That is a crazy rise, and store of value.
XRP is on 20% this morning, and has passed its previous resistance, and this is now its new support level. It is predicted to shoot to 0.9 cents but will need to test its next resistance of 0.55 cents.
However, crypto is volatile, the key is to use probability with your charts, and to know your strategy that you stick to, know when you will come out. The key is to take your gains and then invest in less risky markets like property and stocks.
Many have been asking me about stocks. With stocks, company records are your friends, look at how long they have been operating, and how they have been operating. Are they making more profit each earnings report or yearly? Are they reducing their outgoing costs over the years? Have they got debt? Many smaller companies have debt but are they reducing their debt?
Seekingalpha.com is a great site that can show you company records and the latest news of any company you search for. It has the function to build a paper portfolio, so you are able to track companies you are watching without any commitment.
Research.tradeking.com/research/quotes is great to see all the important ratios of a companies records, such as the PE (price/earnings ratio). earnings per share, price/cash flow ratio, debt/equity ratio, current dividend yield, and the 5-year average dividend yield, and many many many more. It also compares each ratio with the industry average all on one page.
And with all stocks including penny stocks and even crypto you need to understand what is their utility, what is it they do, how are they competing in their market, are they unique and have a promising future. To be safe, bigger companies or index funds that track many companies and pay dividends is a great way to go like Apple, Vanguard, etc (compare the dividend yield with other investment options like bank accounts and bonds, etc). However, promising tech companies like Tesla, NIO, Facebook, Amazon, Pinterest, etc is a very good way to go. Think about where money will be in the future, not only where it is now, and then you are a real investor, thinking about long term growth. I also have my eyes on these tickers MRIN, UAMY, BABA, AMD, BIGC.
For short-term growth many have asked me about forex, again your strategy is the most important factor, sticking to it and your stop-loss percentage, and understanding the charts and patterns. You do not have to go into a trade until you see a chart pattern to show you your entry point. Research chart patterns (Head and shoulders, double top, double bottom, rounding bottom, cup and handle, triangles, wedges, pennants, and flags).
You can get over 50 pounds free on Coinbase just by watching 2 minute videos and then change them for Bitcoin if you like or withdraw the money.
You can also get 100 pound free on trading 212 (this is for stocks and investing you can get dividends on this account, coinbase is for crypto).
For coinbase invite code click this link: – https://www.coinbase.com/join/lilley_w2
For trading 212 invite code click this link: – https://www.trading212.com/invite/GIlUzZ4O
Message me for more detail.
Click here to check out yesterday’s #coachthursday post called ‘How to become motivated – The four types of Motivation’.