Here is an example of a mismanaged position. We bought platinum in January. Obvious isn’t it? Broken downtrend line, clear neckline over a clear bottom. As can be seen we have handsome profits in the position, made even more handsome by metals going parabolic (sigh, soon to be corrected).
Where’s the mismanagement? We should have been adding to this position every time price powered across the horizontal lines. It is essential to build up your position when you have a trending market. Not to do so is to forego easy profits.
But more now? Very dicey proposition. We’ll wait for the pull back.
But a real gunslinger would buy here and track it real time. Who knows how far it will soar before it falls?
It’s the same conundrum with gold and silver.