This week, week 24, only 2/3 positions made a profit, and I suffered my first silver position loss since blogging on steemit. It had to happen at some point. I told you to open 3 different short positions @17.1 with SL 17.45 TP, 16.9, 16.75 and 16.5. With the rule to change SL to 17.15 once we got 16.9. Which i also reminded you of in my update Tuesday.
Timeline of week charted:
Unfortunately the FOMC statement and rate hike caused big volatility, which is probably why we got stopped out.
We still however made a profit, so not a bad week after all. SL was only 0.05$ above cost price.
See you again Sunday for a new call.
Cheers my silver soldiers pioneers of freedom.
/Flemming
This is why I only play in the physical. Its always an ounce. To me when price goes down it is buy buy buy. Seeing a purchase at $21/oz and spot at ~$16 does sting but I just keep holding on. I buy it at $16. I do not ever sell for less than I paid. For me Silver is all about long term stability and the avoidance of an all fiat life. I don't exactly go 50/50 but Silver is highly manipulated. Who knows where it will go in the next year or five or ten years. I remember when Platinum was more expensive than Gold. Just goes to show you the market does what the paper market tells it to do. Physical all the way for this guy.
I still made a nice profit this week with 2/3 shorts hitting target with combined +0.55 $ and just 1 short hitting SL just 0.05 $ above cost.
Physical is long term investments not trading. Wrong channel for that my friend :)
Great stuff. 2/3 is still amazing given the risk reward ratios!!!
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