As expected, Gold and Silver are weak, but a bounce was due. Here it is with Gold up 7.00 and Silver up .20. Each rally has been weaker than the previous indicating more room to go on the downside. We will look for a level to sell until the trend changes.
When you learn to be an emotion-free mechanical trader you tend to see all markets clearer. With the ability to eliminate the emotions, opinions and bias out of the way, you clear the way to follow the price. These emotions always run high in metals, opinions on both sides strong.
Fortunately for us and our mechanical methods of trading, we trade unemotionally and more matter of fact. Too many look at the short term of a trade or confuse investing and trading as one. They are not one, traders can hold a position for minutes, days or weeks. Investors are holding for extended periods of time.
As an investor I own physical Gold, Silver and Platinum which I know some day will be much higher. However, confusing that with trading is a fool’s game, the sure way to losses are the emotions that create more confusion. Don’t let emotion ruin your ability to make money, separate a trade from an investment.