Trade_Journal

Silver - Are you suffering from FOMO?

TVC:SILVER   CFDs on Silver (US$ / OZ)
Key word right now that I want you to keep in mind - Inflationary.

Why? That's the period we are going through, when this occurs you can tell metals rise, check out copper , gold , platinum ...the list is endless...! I can go on about various other instruments too. We could even go back to 60/70's Want to know further in depth what happened then - message me privately!

But let's go to the technical aspects for a moment to make it simple:

Are you suffering from FOMO (Fear.Of.Missing.Out)

Don't jump right into the market - take a step back and think to yourself - Is it a level I want to buy it at? For me it isn't..Why? It's little over extended. Think of trading like a business, you go into a store your favourite designer t-shirt is still to expensive but it's one of those rare limited items which could sell for a lot of money in long run. Right, but you want it at cheaper price, what do you do? YOU WAIT - Patience is key. Wait for that PB (Pull back). Why wait for PB? We want cheaper price, so in this case monthly chart we could head down to areas of 20/21 areas. Then go in, once you're at cheaper price, you sell it once it goes higher - Good risk reward and positive profits!

Now I am not here to provide signals so you'd have to do the in depth analyse on short intra-day time frames for yourself but don't suffer the FOMO - get yourself out of mindset of normal retail trader to becoming a professional. Trust your analysis.

Enjoy...

Remember: Just a trade idea, not a recommendation

Comments

Correct!
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@igord2, Thank you - Have a great week ahead.
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