Tuesday, August 25, 2009

Trading gold ? No thanks!

I tend to think we have entered another C wave advance in gold. These C waves don't come around all that often. In my opinion it's a huge mistake to think one can successfully jump in and out of a C wave. Gold is simply too volatile to successfully time every little wiggle.

The last C wave took a year to consolidate before breaking out and surging over $1000.

I suspect anyone who tried to trade in and out of that consolidation probably just managed to whittle away at their cash all the while reinforcing a trading mentality that would have cost them dearly once the breakout occurred in Oct of 07.

A subscriber asked the question yesterday if the subscription service would be beneficial to his trading. My response is no. I will not be doing any trading as this C wave unfolds. It's too important to me not to miss any of the move and not to incur multiple losses during this volatile period.

What I can do is keep you focused on the big picture and ultimately that is the key to huge profits during this secular bull market.