Loading ...Just because Seasonals are not conducive to buying here dosent mean I want to be out of the Gold Market ..Two weeks up and down dosent mean Im trading ..timing is risky ….Look at this morning and now ..in the same day ….If your a short term trader Seasonals may not mean much to you ,depends on your time horizon ..
My feeling is ..yes I can beat the market scalping 2 % ,but its all short term trading and the higher tax rates apply..I can drop 30 % and still be ahead when you factor in short term tax rates…at years end..and so much trading ,paper work ..for what ? I buy right ,sit tight,and make long term capital gains tax rates or no taxes some years..Im only concerned with ,is this a BULL Market ,or not ? If it is ,I dont need to trade..I own Royalties, Gold Funds (TWO) and a few miners not yet in production …I dont trade except when I get bored and that always cost me money…..I know how to scalp ,I just dont want to do all that work and pay high taxes….in the end !
I got in the market using this method in 1974 ,rode it up until 1987 and made 80 x my money …I dropped half in crash 0f 1987 ,my mistake was using Margin money ,big mistake at the end .Margin leveraged me up until that time ,then it took all the leverage back in ONE DAY 1987….I still made 15 Times my money but it wasent worth almost going bankrupt. for a couple of weeks ..Black SWan days are killers..$ 250,000 margin calls ,no thanks .It killed my broker,my dear friend who helped me and then kept me from going bankrupt with a plan we both devised to by some time ..and it worked ! I recovered ,he diden’t..uncontrolled internal bleeding ..
I was in shock what happened to him,I miss him..