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  2. Sam Bougheda

    Crypto

    Does anyone have any info on the best crypto brokers or exchanges? and If it is better to use a crypto exchange or a broker that allows you to trade crypto? thanks
  3. Just wanted to add to this. I believe that the pressure is starting to mount on the bank of Canada and that they may indicate a rate cut is looming at their next meeting. Could be time to start looking to short the CAD?
  4. Hi Mohammed. I hate to break it to you but 0. Many people seem to believe that they can get into trading and double and triple their account within a few months but this isn't the case. And even if you do somehow manage to do that, you can be sure you will blow it all soon enough. I would suggest you learn as much as possible first and use it to supplement your income. the majority of traders I know are not profitable for at least 3 years before they are able to profit consistently. Unfortunately with these so called 'trading gurus' out their now nowadays who themselves are not profitable, it has made people believe they can become rich immediately through trading. One thing I would ask you to do because I'm sure you won't believe a random stranger online, is to have a look at the worlds top hedge funds and see what their yearly returns are. These are run by some of the top traders in the world, so it should make you think why you think you can beat their returns so easily without having at least a few years in the industry.
  5. Should I buy Dropbox stock given its recent rally on positive earnings?
  6. Well, Ripple (XRP/USD) is one of the most versatile blockchain projects available given its varied uses in the financial services sector as evidenced by the hundreds of institutions using Ripple's platform. The Ripple platform had over 110 banks as clients in October 2019, which shows how popular the project is among mainstream financial services firms. The above qualities make Ripple a very attractive long-term investment given the fact that the platform has more practical uses than even Bitcoin. Ripple's price is also very attractive given that it is currently trading at less than a dollar, which means that you can buy more units of Ripple than other major cryptos. However, you have to be patient with long-term crypto investments as you may have to sustain major drawdowns for long periods. You could combine your long-term crypto investments with smart speculations to hedge your positions and generate cashflow from short-term price fluctuations.
  7. How much money can I expect to make as a newbie day trader?
  8. Hi Lawrence. I have to firstly admit that I am no Ripple or even crypto expert. However, many traders who I respect and follow have been talking about the coin for a while and are holding positions in it (or so they say). A lot of people seem to be expecting its rise, but as a contrarian that always makes me question the legitimacy of the moves (considering the majority of traders fail). However, the fundamentals do really look good, and I am tempted to invest myself. So while I can't give you a definite yes or no answer, I would say maybe invest a little!
  9. Hi Maria... Advantages if these are lower costs associated with them, and they are less liable to tax (in certain countries of course). Also if you have looked at the market recently you may have noticed that nothing seems to stop them from rising!!
  10. Hi Nigel. Now, I know I am extremely late in answering this, but it seems you were most definitely right at the time. At the time of you asking your question the price was at 8085 and by the 26th of June it had reached 13,928 so was definitely a good call. I hope you got in at the level you asked the question. I'm no crypto expert but to me it seems like cryptos work very well with technical analysis so your falling wedge call worked perfectly. If you have stuck with the technicals and crypto I would love to hear how you have got on, since I am looking into it further.
  11. Well, its hard to say whether Apple Inc. (NASDAQ:AAPL) will use Qualcomm's 5G modem in the 2020 iPhone lineup, but its almost certain that this year's iPhones will have 5G capabilities. There is a high likelihood that Apple could use the newly launched 5G modems if the ones that the company is currently developing do not have similar capabilities. One thing for sure is that Qualcomm's 5G chips will be in high demand given that they are the first such chips to offer carrier aggregation, which allows phone carriers to send 5G signals to smart phones using two 5G bands. Qualcomm's X60 modem allows phones to receive 5G signals sent via sub-6 frequencies as well as via "millimeter wave" frequencies. The fact that the new X60 chips will be manufactured using the advanced 5-nanometer technology means that the chip could feature in many high-end phones released in H2 this year and beyond.
  12. Should I invest in Ripple for the long-term?
  13. I have seen people say that it was never really a safe haven and it was just used as a funding trade, and that when there was risk off we just saw money flow back into the JPY as a result of people unwinding their risk positions. However, I believe it is a simple case of the Japanese economy finally weighing on it's currency. They have had minus interest rates for I don't know how long, they have never met their inflation targets and they seem to have been constantly fighting a losing battle in terms of getting their economy going. And with their GDP data being a big miss and the risks of the coronavirus to their economy in play. I think this has resulted in people starting to see that it is no longer as safe as it used to be. If you are looking for a safe haven asset to buy into I would suggest gold or the dollar.
  14. Sam Bougheda

    S&P

    In my opinion it probably will. We have seen the stock market brush off so many different issues and with the fed providing extra liquidity to the market I can definitely see it reaching all time highs, again. I'm in fact starting to question what could provide it with a sustained pullback. They say what goes up must come down, but the market is trying its damn hardest to prove that theory wrong.
  15. I still think we are in the period where UK data only provides a short term affect in moving the currency. I still believe it is mainly down to what happens with and is happening with Brexit. However, that doesn't mean that positive or negative data will have no effect. And, as we have seen today, the pound has sold off against all other major currencies except for the JPY. But the data was positive, so while there was an initial spike in price, I believe the Brexit issues came back into play and we have seen a selloff since.
  16. What is the effect on the latest inflation data on the GBP?
  17. Ali Farhad

    JPY

    With there being a lot of risks in the market and stocks still lower, why Is the JPY also selling off?
  18. Ali Farhad

    S&P

    Will we reach new all time highs again?
  19. The last time it touched this level was back in 2017 and it does seem a real possibility right now with the risks associated with the EU economy. I definitely think the price will continue to head lower. However, I am wary of predicting something that so many others seem to be predicting as it normally represents a turnaround. So while I think we will see a continued sell off, I would be wary of predicting a low of 1.05.
  20. I seem to mention this on most questions here but in my opinion it is always to do with market risks. risks have increased once more and this sees money flow into gold and other risk off assets. In terms of whether it will stay above the 1600 level I think we may see a pull back at some point below 1600 but this will for me only represent another buying opportunity.
  21. I believe so. There are a lot of market risks at the moment and with the par acting as a risk proxy I think this could be a good level to sell further. We have seen a lot of risk off movements this week and this should help a potential sell off. Even with the extremely bad GDP data out of Japan (which weirdly sees the JPY strengthen) we should still see JPY strength. If you also are able to put a volume profile on your chart you will see that there is quite a lot of volume just above the level we are at and so it seems to me that it is a key level to sell at.
  22. Should I sell AUDJPY in this market?
  23. Ali Farhad

    Euro

    Will EURUSD reach 1.05?
  24. Ali Farhad

    Gold

    Why has Gold broken 1600 again? and can it stay above that level?
  25. Qualcomm just announced a new 5G modem, will this modem be used in this year's iPhone?
  26. Well, it's a bit early to predict whether last week's rally in oil prices will be replicated this week, let alone for the newt few weeks. The main challenge with forecasting future crude oil demand at the moment is because nobody knows when the coronavirus outbreak will be contained. Last week's rally was driven by investor hopes that coronavirus infections had peaked, but this is clearly not true as new cases are still being reported. Regardless, the technical picture for oil prices looks very promising as the commodity seems to have found strong support at the $49.40 level, which is where the rally started. I do not believe that we will see a major rally in oil prices any time soon given the prevailing market conditions. Long-term investors may accumulate speculative long positions at current prices, while shorter-term traders may be best served playing both sides of the market in case price trades sideways. However, oil prices may spike higher if OPEC+ announce major cuts in oil production, which could happen any time now if the coronavirus epidemic keeps spreading. Remember that both oil producers and marketers suffer when oil prices are depressed, but a long-term rally can only occur if the coronavirus outbreak slows down and is contained.
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