To: GROUND ZERO™ who wrote (49679 ) 5/5/2013 2:26:52 PM From: Machaon 1 Recommendation Read Replies (2) | Respond to The key thing about my model is that it requires the market to prove itself according to my model's prerequisites before I place the trade...For decades I commuted an hour each way to Miami, only to face 8 hours of pressure and deadlines and ineffective management each day. this doesn't mean gold will go lower from here, it could open much higher this evening and rally to 2000 or 3000 per ounce in a week... I have absolutely no clue what it will actually do, no one does... I can accept that very easily. There are still financial analysts on CNBC that have been mostly in fixed income, over the past few years. They are constantly discussing differing opinions.but I do know with complete and absolute certainty that gold CANNOT rally much from here without triggering a buy signal and confirming that signal at the end of the trigger day... This statement really catches my attention! It goes against my trading style, whereas a model verified uptrend triggers your trading decision, and a strong down trend has triggered mine. I hope to learn more from the Ground Zero Institute of Trading ! :)For me, buying cheaply can very often turn into trying to catch that proverbial falling knife, The falling knife is not as sharp since the inception of the ETF. If one selects a fairly well priced sector of our economy, it is safer to average down. I did it in the XLU ETF for a long time, but unfortunately I'm out and I can't (or won't) get back in. When I first invested in XLU, I figured, if it went down, and I had to wait, I could still collect ~4% income on my investment. To me, it was a win-win. I've done that more times than I would like to admit, those "early bird" trades can become very costly... I admit that it is not the best way to trade, and can come with a lot of lost time, lost value and anxiety.but with my model, one can never miss the real top or real bottom without the signal being triggered and confirmed... Do you even get confirmation during the day? Multiple times per day? Good Morning, great post, I fully enjoyed reading it!!! My pleasure! Thanks for the comment!
