One thing we know for an absolute certainty, trading is hard. From our opinions that control our trades to lousy trading conditions and our emotions, we have challenges everywhere. These are the facts traders battle everyday with the biggest being their emotions.

Based on our algorithms and what we can see as traders the trend is higher in Gold, Silver and Platinum. However, we can also see the sellers trying to regain control which is keeping the metals in the torture chamber of congestion.

We remain long Gold and Silver looking for the breakout to the upside. We would also be long Platinum except for the liquidity issues. There is a 100% probability that Gold, Silver and Platinum will breakout of these ranges and a 66% probability it will be up. However, we must be prepared to be wrong and willing to exit a bad position.

There is also a major difference between trading and investing. As an investor, I don’t care about the day-to-day swings or action. History tells us there will be higher prices making investing emotion free. Trading brings too much thinking unless you have a plan and set of rules to follow without fail.

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
Stop being a prophet and make profits

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