Crypto Assets Could Offer Big Returns For Investors

Let’s talk about what’s been going on in the wild world of cryptocurrencies lately. It’s been quite the rollercoaster ride, with all the buzz about a potential Bitcoin exchange-traded fund (ETF). And guess what? Bitcoin’s been on a bit of a joyride, hitting an 18-month high!

Just the other day, Bitcoin was trading at a cool $34,020, surging up by 8.57%. It sent ripples through the crypto universe and had enthusiasts grinning from ear to ear. But that’s not all; MicroStrategy Inc., those big Bitcoin enthusiasts, saw their assets shoot up by a whopping 12%. Not to be outdone, global markets joined the party with a 7% increase.

Over in the good ol’ U.S. of A., several financial firms are knocking on the SEC’s door, waving applications for Bitcoin ETFs. It’s like a signpost that reads, “Crypto Enthusiasts, This Way to the Future!”

The excitement didn’t stop there. Someone spotted a Bitcoin ETF listed on the DTCC clearing house website, and that just added fuel to the fire.

And in the legal department, the U.S. SEC decided not to play ball with Grayscale Investments, letting them move forward with their Bitcoin ETF application. The court gave a thumbs-up, forcing the SEC to take a second look at the request.

Now, our buddy Geoffrey Kendrick, the head of digital asset research at Stack Funds, chimed in on the situation, mentioning that Bitcoin short-covering has been going full throttle. According to Coinglass, a crypto derivatives analysis site, things have been pretty heated.

So, the vibe in the market is pretty optimistic, with everyone on their toes, hoping for the green light on a Bitcoin ETF. If this goes through, it could be a game-changer, making Bitcoin more tradable, almost like a stock, and potentially boosting returns.

For folks itching to dive into the crypto scene, a Bitcoin ETF would be like a golden ticket. Right now, you can either buy Bitcoin directly or dabble in futures contracts, but an ETF would open up the crypto world to a much wider crowd.

But here’s the kicker: the SEC hasn’t given the thumbs-up just yet. They’ve rejected a few applications in the past, voicing concerns about market size and maturity.

If Bitcoin ETFs do get the green light, brace yourselves for more BTC climbs. The more finance firms jump on board, the more cryptocurrencies, like Bitcoin, could become everyday investments.

It’s clear that investors are all in for a Bitcoin ETF, and that’s what’s got the market buzzing. But until the SEC makes a call, it’s all just speculation.

While you wait for the verdict, it’s not a bad idea to consider adding some crypto flavor to your investment portfolio. Even if the ETF doesn’t make the cut, there are other options. You could check out ETFs that give you exposure to the digital asset class or head over to trading platforms like Coinbase, Bitstamp, or Binance.

Keep in mind, though, the risks in the crypto world are no joke. It’s a good idea to educate yourself and understand the ins and outs of the technology, as well as the potential gains and losses. There are plenty of resources out there to help you get the lowdown.

As the crypto landscape matures, you can expect more rules and regulations. The U.S. Commodity Futures Trading Commission (CFTC) is already flexing its muscles to protect markets from manipulation. And the SEC is being extra cautious with approving crypto exchanges, making sure they have strong anti-money laundering and know-your-customer practices in place. Safety first, right?

Don’t forget, it’s not just Bitcoin in the crypto universe. Ethereum, Ripple, Litecoin, and other altcoins are there for the taking. They might be your ticket to building up your crypto treasure chest.

Here’s the kicker, though: cryptocurrencies are decentralized. No big shot is calling the shots. That means you have less control, and things can get wild and unpredictable. Prices can jump all over the place, and if something goes south, there might not be much you can do. So, be ready with a game plan.

Stay on your toes and keep an eye on the news. Crypto markets are like living organisms, always changing, always responding to outside forces. Don’t snooze on the updates; you never know when something big’s coming.

To sum it up, cryptocurrencies can be a cool addition to your portfolio, but it’s not all rainbows and sunshine. If you play your cards right, they could bring in some sweet returns. Just remember, it’s a wild ride, and you should buckle up and know the ropes before you jump in.

Taking a break from trading and MyFxBook.

Hello everyone!

I have been taking a break from trading. A lot of things has happend these last months, from loosing a loved one from cancer, a car accident, and problems at work. I should be resuming trading before March, as soon as things get better.

On another note, MyFxBook has started calculating Oanda’s result correctly now. So if you look an my results, you can see the actual good results.

See ya later!!

 

A new Forex trader in town… Well… Not really….

I love to say that I am a new Forex trader. I like to think that I just happened to have learned about Forex, opened an account on a broker and voila… knowing what I am doing, I am already profitable. But that’s not actually the case. Like many of you.

 

I have been studying Forex and trading for more than 5 years now. Am I profitable? No. Do I know what I am doing? Well… a little…. Yes! Even after 5 years….!! I say 5 years but I actually took a 2 years break in the middle. I just couldn’t stand it anymore.

 

Like most noob traders, I went thru all the indicators, systems, expert advisors, online courses, etc… and nothing really worked for me. I was still losing and losing money. After all that, I decided to take a break.

 

I came back to Forex a few years later after reading a book called Naked Forex by Alex Nekritin and Walter Peters. I found this book in a thrift store while I was searching for something else. I found it pretty interesting and for a few dollars, I brought the book home to add it to my Forex books collection. One night, I opened the book and started reading it. I just couldn’t put it back on the bookshelves. It really opened my eyes! Could it be so simple? After all I went thru? I knew price action was, from reading posts after posts on different discussion forums,  the only way to trade. But I just didn’t understand how to use price action to my advantage. Although now, I don’t always trade the way of the Naked Forex traders, for me, this book made everything way much clearer, and sent me on the path of a profitable future.

 

Today I trade with price action. I trade using candlesticks analysis, Major and Minors support and resistance zones, moving averages and Bollinger Bands for volatility. I don’t use all those others lacking indicators anymore. Trading Forex is simple.

 

I have a day job so I have the time only to trade the daily charts. I dont always trade every day, and I usually don’t have more than 2 positions open. I never go against the trend and I almost never trade reversals. I only trade reversals in ranging markets, and in very specific situations.

 

Do I trade with a demo account? No. Why? Because I have found with time that I lose interest when there is no money at stakes. Do you have to start trading with a 1 million dollars account to get a taste of Forex? No. In my first account, I deposited 100$ and I traded with that. It doesn’t matter the size of the account if you trade only 2% of your account per position.  Of course you won’t become rich with a 100$ account risking 2$ per trade, but you will surely learn a lot from it, like how to stop getting emotional about an open trade that is not going your way and how to let go.

 

Do I backtest my trading techniques? No. I hate backtesting stuff. And like I said, I lose interest when there is no money at stakes. So I do only forward testing.

 

Who is this blog for? Not anyone in particular. I am writing this blog as a mean to keep a trading journal for myself. If it can help anyone with their trading than It will have been more than useful.

 

If you want to follow my progress, you can do it by watching my myfxbook at the following address: http://www.myfxbook.com/members/SimonZed1 . You can also take a look a the widget on the right of my blog.

 

Thanks for being here and happy trading!!