Thursday, 8 October 2009
Short Gold Trade Stopped Out, Going Long
Just got stopped out of my short gold bullion trade on this powerful rally. These things happen. Not every trade makes money. Capital preservation is key, which is why I use stops and control position size. As I noted in a comment to Friday's post, I might now look at going long in a discretionary trade since bullion is acting with exceptional strength against the usual historical trend that the data has seen in the past.
UPDATE, 12:25 p.m.: Just went long gold bullion as it broke out above weekly and daily TDST resistance lines.