Loading ...A Test of Your Mettle
For those who have just started Investing in Precious Metals ( Based on the Poll there are many )
You may be about to discover how convicted you really are .
This has been an easy Ride here for 8 Months
Maybe now we see a Little Vomitility
This may be where we separate the men from the boys again
8 months practically straight up. We had one 15% correction
Now Due another
Hey Fully, where do we women fit in???? 🙂
Shots fired! 😀
OOPs
Separate the Girls from the Ladies ?
naw…that doesn’t sound right
Anyhow so far looks like a false alarm .
You know I was jokin’ around-
But you are buying more at HUI 255 strong support right?
I don’t know that your advice is so sound here FGC. You’re advocating being strongly “convicted” and “separating men from boys” as an investment strategy over placing sensible stops to protect 8 months of wonderful unrealized gains. It sounds like you have no stop to protect your profits but you will justify just riding prices down (if they do go that direction) through your strong conviction and toughness? Yikes….if $HUI 255 doesn’t hold I’m taking profits….and you can have your conviction.
I am actually hedged here with HGD. Easier than liquidating the Rocks
I would lift the hedges at 260ish HUI
Everybody has their own risk tolerance. If you lock in your profits I congratulate you on a GREAT Trade
It will likely feel good to reflect on a great run for a little while. Just don’t get too upset if these things take off again
“Just don’t get too upset if these things take off again.”
You’re clearly more fearful of missing out than you are of losing money. Dangerous! If we do hit 255 I will sell and if prices go back above the 50MA I will buy back in. Why is that such a huge risk? I would risk losing a couple of percent at most while you’re already braced for a 15% drawdown and even more apparently. A bigger risk is sitting as prices keep falling because you don’t want to somehow miss out. That makes no sense…you just need a trading plan and follow it’s rules.
Good Plan
Mine is different
Staying Long but hedged.
That works too. Then at support 250 HUI ( basis this weekly chart in this post) lift the hedge
There have been many 10- 12% drops where it has been tempting to sell all the way to here
Lots of traders did sell and still waiting to get back in
Won’t happen to you because you have a good plan
50DMA
Me thinks thou doth protest too much
good luck
What happened to sitting bull,?
Nope…a 10% haircut from the YTD high and a move deeper below the 50MA than we’ve seen all year is more than enough to tell me the picture is changed at 255. For me it’s worth buying back at possibly higher prices if we move back above the 50MA than to risk just watching my profits fly out the window due to hope, conviction, and being tough.