When gold was at $1570, there are many “experts“ who say that gold’s uptrend is over. The reasoning are US interest rate will gradually increase, US economy is improving and Fed’s stimulus measure will end earlier than expected. Several banks cut their future forecast for gold price. For example Goldmans Sachs had cut its 2014 gold price target to $1450 from $1750 an ounce.
We put all these negative commentary aside and bought gold aggressively. We reckon that this is a rare opportunity to buy gold at such an attractive price. We are so bullish on gold that we bought both spot gold as well as ultra gold ETF. Thanks to all these negative commentary from the “experts” and banks, we manage to buy gold at very good price.
Today gold is at 1611. Our trades are profitable now. We are still very much bullish on gold.
In the area of investment and trading, if you follow the crowd, you will always end up buying high and selling low. It is very difficult to make money from investing if you keep buying at high price and selling at low price. Often the best time to buy is when market is pessimistic. It is similar to what Warren Buffett says “be fearful when market is greedy and be greedy when market is fearful”. Market is certainly fearful on gold now.
It takes extreme guts and faith in one’s ability to go against the crowd. If you have guts and faith, nothing is impossible. Most people find that difficult to do, I am quite comfortable doing that.
Our investing and trading philosophy requires more than just going against the crowd. We observe the trades of the insiders; we will use those information to differentiate buy and signal signals. After that we will check the chart using our designated indicator to find out if the entry point is good.
Here are our gold trades:
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BL, CEO of Tactical Trading Academy – For Your Profits, Your Success Is Our Success!
“Formal education will make you a living; self-education will make you a fortune.” - Jim Rohn