First, a few dumb trading rules that I followed:
A long time ago, I traded horribly by absorbing as much news as possible. I blew out three
trading accounts before I got my act together. Then, I gravitated toward proven techniques.
However, I found some dumb trading techniques along the way. In the late nineties, people
would use a technique called “dead cat bounces.” A dead cat bounce is when a stock that
used to be in favor falls apart. Then, you time the momentum and buy. It can work if you’re
an insider. Otherwise, it does not work.
Another strategy is MACD trading. When I was trying to figure out which numbers worked
the best for MACD, I found out that doing the exact opposite of what everyone tells you is
how to make money on the MACD indicator. Buy your sell signals and sell your buy signals.
Everything that you have been learning about technical analysis is wrong.
Lastly, the COT report will tell you inside knowledge of who is positioned and how. If you
don’t have enough money in the market, you do not need to report how you are positioned.
The non-reportable stocks are the mom and pops of the trading world – they are not even on
the COT report!
Then, I dive deep into trading gold and silver. For this strategy, I am putting my goal at
twenty percent. However, having this goal isn’t quite as crucial for a gold and silver strategy.
Then, I make sure my date range is set up. After running a few tests, I found some fantastic
results – tune in to hear! Plus, I explain the rules that are put into place for this strategy.
- “Everyone is really smart in a bull market.”
- “Price does a really great job of predicting future prices.”
- “When you learn how to think about the markets, then you can think on your own.”
- “There is a big momentum going on with gold.”
- “Silver is going through the moon.”
In This Episode:
- [ 1:30 ] Stupid laws in the United States
- [ 3:50 ] The dumbest trading rules that I have ever heard
- [ 12:20 ] About switching between symbols
- [ 15:05 ] Using gold and silver as a trading strategy
- [ 23:05 ] The rules for gold and silver trading
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- Email: Dan@PortfolioBoss.com