Gold oscillated around unchanged for most of the day yesterday in quiet trading, as the market continues to move upwards in a Wave B correction within a larger Wave 2 correction.
The strategy for our next trade is clear and our subscribers have been informed of the levels we are looking for to re-enter the market.
Our success over the past decade and a half has largely come from knowing when to sit on the sidelines, when to enter the market and when to exit a partucilar trade - it sounds simple but most traders have a tendency to "over trade", to always want to be in the market, to always want "skin in the game".
We generally enter 20-25 trades a year, carefully selecting those positions that give us the best risk:reward ratio and utilise active stop loss management to reduce the risk to capital as quickly as possible without jeopardising the trade.
Many of our subscribers thank us for instilling discipline into their trading, removing emotion and curbing the "gambling instinct" that leads them to over trading and ultimately failure.
The strategy for our next trade is clear and our subscribers have been informed of the levels we are looking for to re-enter the market.
Our success over the past decade and a half has largely come from knowing when to sit on the sidelines, when to enter the market and when to exit a partucilar trade - it sounds simple but most traders have a tendency to "over trade", to always want to be in the market, to always want "skin in the game".
We generally enter 20-25 trades a year, carefully selecting those positions that give us the best risk:reward ratio and utilise active stop loss management to reduce the risk to capital as quickly as possible without jeopardising the trade.
Many of our subscribers thank us for instilling discipline into their trading, removing emotion and curbing the "gambling instinct" that leads them to over trading and ultimately failure.