It’s the second weekend in April which means the Masters Golf Tournament is on. Based on the recent price action in Gold, Silver, and Platinum, should we be watching the markets or the Masters?
For the past few months watching the markets has been painful, not because of losses but the continued lack of activity. All markets have been quiet despite geopolitical issues, inflation and a Central banking System that is clueless.
In other words, I will be watching the Masters while maintaining my short trading position. There is no need to stare at these markets looking for something to happen. We won’t sell the top or buy the bottom, why waste time in markets that aren’t going anywhere?
Precious metals should be owned on a physical basis with capital that is not needed tomorrow or anytime soon. Trading should be done with paper knowing that we can trade either side without emotions.
In all markets price action determines what will happen in the next day, week, or months. Keep the two strategies separate, the worst trade anyone can make is turning a trade into an investment hoping for a way out. Traders must learn to take their losses and move on to the next trade.
Patience, discipline, and money management always win the day. Let the map of the markets show you the way.
Todd Horwitz Chief Strategist BubbaTrading.com
Stop being a prophet and make profits
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