PMs are NOT for everybody Silverboom
Especially the PM Miners.
YOU will NEVER…EVER sell at the top of a move in PMs…they are seductive…they are addictive …they are a tease
Personally …I believe this is a Baby Bull…I believe this is just the start….it was a fast and furious start
Now we get a 15% correction…maybe it will go to 20% or god forbid 50%…then we have a higher low.
It was never going to be to the moon non stop
So far we have had a 135% Gain in PM Majors in a couple months and now a 15% drop.
THEY…the machine programmers….KNOW you / us….they know they can shake you / we out
We are conditioned now…like Pavlogs dogs
They have us right where they want us…they want us OUT and Chasing by tomorrow…for sure they are going to
whack us some more…..
Too many here have been bragging about getting in early and having fantastic gains
Me …I have been a lead dog bragger
For my cautious side however I have been selling 10% every week as the beat goes on…locked in some good profits
This strategy works for me….everybody has to devise their own plan .
Some will just be content to ride out the inevitable 20%-40% drawdowns
Some will Sell on a hint of trouble
Some will skim some profits along the way….
Some will keep adding on dips…and accumulate all the way UP
Some will hedge with NUGT and the likes and curse every time the hedge goes against them
Some will hedge and not mind if they lose the insurance premium
Some will never get in as they wait for a big correction and when it comes…everything seems black and Bearish and they cannot pull the trigger…only to get left behind again.
Some will commit financial suicide and trade the 3Xers from both sides .
Some will commit physical suicide .
You want to trade PMs to get rich ? Its Doable but Its Tough man…the toughest trade on the Planet
Get a comfortable position as a core and hold it…skim profits on the way up but keep the core.
That works for me….to each his own
IF you sell…I hope you bank the profits and don’t trade those gains….Buy a yacht …then put the core $s to work again.
PMs are NOT for everyone
But they are for me.
My Name is Fully and I am a Mineaholoic