This is a very difficult time to enter the gold market
as a trader. You should never buy strength.
You wait for a good pull back to buy in, and sell strength.
But, when gold has every reason to go up strongly, you
have to buy in a some point that you may not believe
is enough of a pull back, or get left behind as gold
keeps moving higher.
Finally, when you have had enough of getting left out
of the run up, you throw caution to the wind, jump in,
and that's when the commodity gods drop the market
big time, you panic, take a horrible loss, damage your
trading account, and the market goes back up to where
your position would have made a nice profit.
That's futures trading, folks. Train your brain.
Live in the moment. Forget what has happened in the
past (learn from it, but then let the specific incidents go).
Otherwise, you won't be able to see the opportunities right
in front of you. Fear of making a mistake is normal.
GIVING IN TO FEAR, is not. Just listen to the voice in your
head that is telling you you are a loser, and just do what you
have to do anyway. When you win a few, you will just laugh
at the voice. Everyone has 'the voice'. It never has anything
constructive or positive to tell you. I may be the devil.
