Loading ...Those that purport to know which direction are usually fooling themselves. The markets, especially PM’s are so manipulated I don’t think any chart or ‘expert’ really knows what will happen on a given day. If you have been reading these pages you have heard us whine that so often, Up is Down, Right is Wrong, Left is Right.
I use ETF simply as tools, and try to guess which way the market will go. You ask which indicators ? All of them and then some. I’m not trying to be a smart ass, but the real answer is all and none. I use the same indicators as you, as everyone. And then I make a guess as to which way Gold and Silver goes today.
Sorry, I guess you were expecting some ‘Secret’. I wish I had one. Well, actually I do have one that has really changed my trading style and done more to add to the trading account than any indicator or method yet. Try not to laugh, but here goes. I quit losing.
Ok, I lose about as often as I win. But I quit riding losing trades. I make my best guess, and in reality that is all anyone has, and if the trade goes south, instead of taking a ‘Hopium’ pill I just pull the plug. I cannot pick a winning trade every time, but I CAN cut a losing trade short. I guess you can say I have gone ‘drug free’ in the trading account. That has been the biggest change, and the most benefit to me this year. Kiss the Winners, Boot the Losers, and don’t waste valuable time or money doing either.
My suggestion to anyone is to just experiment with some of the ETFs. Start with a few shares and see if all your years of watching these insane markets give you a clue. I have found they trade quite differently, have a somewhat different ‘feel’ than the PM stocks. Every day offers a new chance to ‘get it right’. Start with the 50/50 chance and try your Luck. Which in the end, has probably been my greatest alley, Lady Luck. She will either decide to kiss your efforts, or not. You know what to do next.
The simple matter is I don’t know anyone that has made a Billion trading PM’s. If he/she is out there they are sitting on some island and not letting the rest of us know. The rest of us, no matter how experienced, how knowledgeable, still really don’t know what the day will bring in the PM markets.
Try it, your luck may be even better than mine.
Best, Farmboy
Ps) don’t be such a stranger around these parts, you know as much as anyone else. We learn by sharing our experiences. That is the beauty of the Oasis.