Newsletters....
There is not a day that goes by that someone doesn't have a wonderful pick on stocks, commodities and a host of other financial instruments that are "Chance of a lifetime" picks. Well if that were the case almost everyone would be wealthy right. Everything's a guaranteed winner until of course its not.
For example you can't even open one financial email these days without someone telling you that gold is headed to 5000 an ounce or higher. Except there is one big problem. Timing. When you are a real trader timing is everything. What happens if you time something wrong is you are generally either waiting forever for price to move in your favor or you get stopped out hopefully that is if you use stop losses. Most people don't and they of course buy down or sell up. This usually results in an even greater loss and perhaps even an account ending blow out.
Should you listen to them all?
Well that depends on who you are listening too. If say a Stanley Druckenmiller is telling you what to do then perhaps you might want to listen. However how many of these guru's have audited accounts to let you know what they did or even if they have their own money on the line. Ask them how much they have on the trade they are recommending and proof.
You see here with profit with forex I show you all the time what positions that I have taken. They are clearly outlined on the account. I show them. Not hypothetical but in real time.
So let's get back to a heated topic right now. Is gold going to beak records. The simple answer is "NO". Not yet. It might but I highly doubt it with the talk of digital currency coming on line very shortly. Exactly where is gold's role in this? Well it doesn't have one.
So in essence I would be looking to sell the precious metal at a particular level that I will know when I get there. I will tell you also on my gold blog when it is time to do so. I made money on the small correction that we had but am now stopped out as gold headed a 'bit" higher.
You see gold may rise but it won't be in relation to anything else other than the Dollar falling which it may continue to do. So don't get to hot and heavy with all the hype circulating around out there. I personally am looking to reshort but not yet.
For example you can't even open one financial email these days without someone telling you that gold is headed to 5000 an ounce or higher. Except there is one big problem. Timing. When you are a real trader timing is everything. What happens if you time something wrong is you are generally either waiting forever for price to move in your favor or you get stopped out hopefully that is if you use stop losses. Most people don't and they of course buy down or sell up. This usually results in an even greater loss and perhaps even an account ending blow out.
Should you listen to them all?
Well that depends on who you are listening too. If say a Stanley Druckenmiller is telling you what to do then perhaps you might want to listen. However how many of these guru's have audited accounts to let you know what they did or even if they have their own money on the line. Ask them how much they have on the trade they are recommending and proof.
You see here with profit with forex I show you all the time what positions that I have taken. They are clearly outlined on the account. I show them. Not hypothetical but in real time.
So let's get back to a heated topic right now. Is gold going to beak records. The simple answer is "NO". Not yet. It might but I highly doubt it with the talk of digital currency coming on line very shortly. Exactly where is gold's role in this? Well it doesn't have one.
So in essence I would be looking to sell the precious metal at a particular level that I will know when I get there. I will tell you also on my gold blog when it is time to do so. I made money on the small correction that we had but am now stopped out as gold headed a 'bit" higher.
You see gold may rise but it won't be in relation to anything else other than the Dollar falling which it may continue to do. So don't get to hot and heavy with all the hype circulating around out there. I personally am looking to reshort but not yet.
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