Gold is in a weak downtrend. It has been downgraded from last week’s sidelines ranking. In last week’s video clip what did I explain to you the trend in gold was puma suede heart satin australia , sidelines right? I explained you ought to move to the sidelines after selling out and taking profits. If gold broke below the 50 day moving average, you’d be thankful that you got out and moved to the sidelines. In the event that gold bounced off the 50 day moving average you could always get back in when it enters into a strong uptrend. Now a lot of you playing my videos did not follow my recommendation. Terrible move. Are you going to be a dummy and ride gold all the way down just as before? How do you know this pullback in gold won’t be yet another 2006 to 2007 plunge in gold? It took most gold perma-bulls 2 to 3 years to recuperate their losses. Are you condemned to repeat the exact same blunder two times?
As a gold bug, why do you need to endure these tremendous drawdowns? The answer is you don’t. I don’t care what your logic is. In the event you hold gold and it drops more than 20% on you, you are a failed trader and you’re simply not trading right. Only brainless novice traders put money into markets without establishing a stop loss.
Now the reasoning of many gold bugs is to say Lance, I would not care what you say. I subscribe to Doug Casey, Peter Schiff puma basket heart patent australia , and Peter DeGraff and these fellas are all in. When they’re all in gold then I’m all in gold. As these guys are millionaires and billionaires and they didn’t get that way from being silly within their trading. They are fully aware how to trade, that’s the reason they’re rich. It is not true. These guys made their cash not off their stock investing but from there gold bug newsletters and if they run a fund like Peter Schiff. Quite simply they make their money from the businesses that they run and not their trading. Contemplate it. Exactly why take care of the problems of a business if you could be a millionaire and billionaire just from your stock trading?– just from the point and then click of a mouse. Why cope with taxes, a business license, employing a person to answer the phones, advertising and marketing, workers puma basket heart australia , laws and regulations, customer service, processing customer bank cards and payments, as well as the dozens of other complications it takes to run your business? If these guys truly were millionaires and billionaires simply from their trading and investing, they probably would not need your $100, $400 fenty puma slippers australia , or $1,000 a year to subscribe to their newsletters. The fact is they have not become millionaires and billionaires from their stock market trading. They desire your hard earned dollars.
Another argument I’ve gotten from gold bugs is well, Lance, it’s not possible to buy bottoms. I totally accept that. In fact, I’ll expand on that and say you can’t buy bottoms or sell tops. But that type of logic used on holding onto gold too long is what’s called a non-sequitur. Many may call it a straw man. It’s taking a truth in some other aspect of trading and employing it in an illogical way to gold. Sure you cannot buy bottoms and sell tops, however puma creepers velvet australia , you can trade trends. Holding onto gold for too long and enduring giant drawdowns, instead of setting a stop loss, and then justifying those tremendous drawdowns with the logic that you cannot buy bottoms and sell tops is idiotic. You are able to trade the trend. Merely identify the trend then trade it.
Jessie Hart is a trader as well as a publisher. He publishes numerous reports relating to trading and simple methods to have the correct psychological processes goi
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