Hi, its been a crazier few days than normal in the financial world.
In todays live session I looked at forex (of course), silver, Gamestop & crypto (many of my portfolio coins are up over 100% again in January alone AND one of my coins soared 900% in the last few weeks).
A $1000 in that particular one returned $9000+ if you knew where to get in and out! I am looking for a pullback right now 🙂
I show in the video, of the18 coins in my original crypto portfolio from May 2020 I have an average 284% gain per coin and only a handful that are currently a little in the negative (but I am still buying one of them as I believe it has the chance to at least grow 10 times and possibly 100)!
Why am I so confident?
Because I studied them for 6 months and did detailed fundamental research of blockchains, coins and tokens that have a real world application.
I then used my technical analysis skills from forex that I teach here to pinpoint entries and take profit areas.
What has been going on in the last 10 days or so in other markets is based on rumour, hot air and emotion.
If you dive into something that is being “pumped” it almost always will dump.
Check out our Introduction to Crypto Course here
Once again I asked attendees to tell me where to place stops on the trade setups I was looking at in Sundays analysis.
Last week Elon Musk added #Bitcoin to his Twitter feed and BTC shot up 10% to $38,600. Its the 1st time I have sold any Bitcoin in months, but it was obvious it would run out of steam so I sold at $38,000 & bought back in around $34,000 for a 12% profit in less than a day.
In recent days we have seen the goings-on with the Reddit group pumping up the price of Gamestop GME. It went up 2500%+ in a few days and has since dropped 2200%! Gamestop who is winning the battle?
Then they were rumoured to behind the price moving up in RIPPLE (XRP) one of my crypto coins. I warned members of my crypto investing website yesterday to take profits around 0.70 if it shot up. It hit 0.75 and then dropped like a stone! Why?
Because these moves have all the hallmarks of a “pump & dump” where the novice new guy gets sucked in (via the press) as they are scared of missing out. They tend to dive in just as price drops and then hang on in there 🙁
Yesterday it was the turn of silver. The rumour was that the Reddit group were going after that (since denied). The price hit a double top of last years high around $30,000 and is now around $27.00.
Silver is one of the most manipulated markets on the planet. JP Morgan are understood to have BILLIONS tied up in shorting it and they have deep pockets. What if they or a similar fund sent the rumour out so they could short higher up and cost average their losses?
Bottom line is don’t get involved in anything just because it’s on the news or “a friend gave you a tip.” It’s vital you fully understand what is going on before investing in any financial asset.
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