First order of business, my apologies to the few BUT loyal readers I have on www.Tradeneophytes.com
If you’re wondering why I am posting even less than before it’s not because I have given up, but because I am working on a totally new project - my cat business - which could be a nice little money-spinner for me.
I hate not posting on my blog, I feel I am letting readers down, but this business idea of mine has such potential bang for the buck I have no choice.
If you are a cat lover, you may just love my new website and related social media. If you hate cats, then soon enough I am going to be putting up some killer new content on the trading blog.
Crypto comp winner
Okay, with that out the way, I recently won the babypips competition for the best advice on crypto. For the record, I still don’t really get the crypto space and see much of it similar to the Mississippi scheme or South Sea Bubble.
I am paraphrasing here, but there was one company that floated at that time that wanted investors to put money into a venture that was to not tell investors what they were speculating in.
Hmm - a bit like some of the current altcoins.
Anyway, I won the competition but soon figured out Amazon has more than one company, and I couldn’t use my winnings on the UK site.
I figured it out eventually but be warned non-US residents - if you win the competition in the future you will have to switch the accounts to use the voucher.
Crazy shi* has been happening geopolitically as you probably know. I am talking about the fall of Kabul, and quite literally the falling out of the plane of a number of poor Afghans.
The fall of Kabul is major news and if you do not know about it, then you really have no business trading markets.
I am not going to get into partisan politics, I left the political discussion here on babypips because there were far too many echo chambers which I don’t think add to proper trading.
However, the Kabul fiasco has wider importance - not just because of potential new terrorist activity. More because of the potential for China to really start ramping up the rhetoric on Taiwan.
China is very very likely to play a game of chicken with the now weakened Biden administration, which is likely to have a major effect on the markets.
I have an active interest in this region, a couple of centuries ago my descendants left Fukkien province (directly opposite Taiwan), traveling south to Malaysia - they were the economic migrants of the day and left that strip of coast in their millions.
Mainland China has every intention of correcting what they perceive to be a century of humiliation at the hand of foreign powers.
And Taiwan, the Spratlys, and dominance of the South China Sea is part of their plan to correct this humiliation
I would honestly say the biggest issue facing the world today is not climate change, not a disputed US election, not even the Middle East.
It is the South China Sea.
This article from Zerohedge makes for sober reading.
You would think all this would be good for gold, it may who knows. But being long gold is lazy thinking, and as a trader of gold for many years now I know that nothing disappoints quite like the Ancient Metal of Kings.
I fully expect the dollar to be the biggest beneficiary in the event of an event in the South China Sea or Taiwan.
The Art of Currency Trading
With my winnings from the babypips comp as I said at the time I bought the above title. I said I would write a review of the book for us here.
Well, I am going to go one better. Between here and my blog I am going to spend some time writing about the concepts, and strategies in its pages - when my cat website is finished that is.
I am going to use this thread, really just to discuss anything I feel is relevant to making us all better traders.
However, I have never been big on discussing individual strategies, I leave that to others much better at it than me like @MattyMoney - there are others too.
My technical analysis analysis would make for boring reading indeed. It would be like… buy if it goes above this line, cancel the order if it doesn’t.
I will discuss a bit about the trader lifestyle though, and what mental frames you need to succeed at trading.
And of course, any new blog posts over at Tradeneophytes I will also shamelessly plug.