Strategy for trading PM bottom September 12, 2008
Posted by Warren in Metals, Strategy.trackback
1: Start with a small position (3 or 4 contracts)
2. Set up a target for covering 1/2 (gold: $790; silver: $12.5)
2. Set up a stop (gold: $735; silver: $10)
4. If stopped out, don’t go back to step 1 more than twice
5. Double position if price starts to rise (requires quick reflex and luck)
6. If target clearly broken, double position and repeat steps 2-6 with new target and stop (also requires quick reflex and luck)
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