Monday, January 30, 2006

Update on Crude, Gold & Silver

What can I say?

For many of us who entered Sugar recently, we were caught on the wrong side. It doesn't happen very much and it normally teaches us a few things.

Success in trading is much about psychology and sticking to a set of rules. The very worse time to leave the markets is immediately after a significant loss or drawdown.

The greatest gains are normally made following a large loss.

It takes great focus to stay trading after such a loss - but that's the difference between those who are serious and successful.

Once again Gold, Crude and Silver are nearing positions that are worth a closer look.

Consider your allocation for these markets, as they have proven to be quite relentless of late.

Look to take less contracts than before - be conservative.

Murray

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