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Oct 30 - Long again in Gold, Silver and Copper

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  • Oct 30 - Long again in Gold, Silver and Copper

    In the following live video, I'll review the price charts - my entry signals and my risk control rules.

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  • #2
    In today's live 'Copy My Trades' video we:

    1 pick the winner of our litecoin give away https://www.youtube.com/watch?v=OmSvsfywVT0
    2 review some of the great comments and questions about silver and gold trading from yesterday
    3 take a look at silver charts
    4 and at the end of this video - I have a question about global silver supply. YOUR answer could be the winner fo tomorrows litecoin give away



    first of all the November 1 Litecoin Giveaway Winner was Nikki B!
    Click image for larger version

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    here are the questions and answers from below the video from yesterday





    noorman OJB

    Hi, how do you break down and organize your portfolio regarding risk factors? I'm more into cryptos lately and wondering if precious metals (gold and silver) would be a method to lower the risk in a portfolio to apply more balance and stability.

    @CopyMyTrades

    I appreciate your question Noorman. I have four 'pools' of digital currency investing. One is an altcoin trading account that is to be for quicker trades. One is an altcoin buy-and-hold-for-five-years account. One is a Bitcoin only hold and lend account, and finally I have the 1broker account that I am focusing on commodities. The first two accounts are to grow my btc by trading alts, and while they are up huge from this time last year... the past three months have not been favorable. The bitcoin only lending account slowly keeps growing with lending earnings and small mining and referral earnings. Finally the 1broker trading account is now in profitable positions in gold, silver and oil - and will now watch where to move the stops...
    Overall, my idea is to diversify - with an aim of growing my digital currency holdings in several ways at the same time. To lower the risk, I study Phantom Of The Pits and then practice applying it to my trades while explaining what I'm doing with video journals so that I ensure that I learn faster and better.
    Indeed, I am working as hard as I can at this - in order to make my life as easy as possible - and the more people I help, the faster we all reach success. Thanks again for the note! Good luck with the draw today!?

    ==============


    Bassem Sabry

    i would buy the dips and always hedge at 25% - 40% ratio depending on risk tolerance. Long term outlook bullish.?


    @CopyMyTrades

    This is a great comment because it may be a chance for me to learn something! I never could 'buy the dips' because I could never quantify that - and... I'm not sure what you mean by hedge in this instance. I know that a farmer will hedge to ensure a steady price, but not sure what you mean in the case of a speculator buying the dips? Be sure to include your litecoin address for the daily comment draw!?


    Bassem Sabry

    Quantifying that based on support and resistance lines. hedging means also opening sell positions simultaneously, and i'f I'm bullish, i'd close the sell orders when they're in the green at a 10% or more. I adopt the same strategy when it comes to stops on 1Broker, which I opened an account on after watching your seminar. Big thank you and keep up the good work!

    So far I'm happy with 1Broker, yet they have very limited forex pairs to trade, and I'd like to trade some of the ideas I get from tradingview.com, is there a broker you trust, based on crypto like 1broker, and has more fx pairs?


    ==============



    JanB

    I'm not currently trading silver or gold. However, I have seen various other crypto currency traders do this, to diversify their portfolio and risk. Since I am not a precious metal trader I would not dare to comment on the price direction other than I believe overall the dollar will be under threat over time and metals and crypto will become more important to hold. Regarding a trading question - I hear from various other experienced traders that trying to guess tops or bottoms is just not the way to go. However, do you truly feel Doug that the discipline to get out within 30-60 min of your trade makes all the difference, even if you get stopped out time and again at first? In other words, has this technique proven you correct enough times to trust it for you? Keep up the good work.

    @CopyMyTrades


    I remember Ken Roberts teaching an 'Options Profit Insurance Plan' back in the 90's telling people to get ready for a move in silver... and reviewing the historical monthly charts since then till now, it does look like silver is on a long term up trend - as one might naturally expect. But at this time, with this bottom formation bouncing off historical levels... it is a unique moment to risk a long term position...

    Rule #1 by phantom of the pits, certainly has saved me from much larger losses - over and over again. Yet I am still learning to apply Rule #2 correctly. This is the main driver behind all my videos, website, forum, course and trading community - I know that trading is a skill that can be learned, so I've created my own university. Going public with my trading journals, and teaching others my methods, has vastly accelerated my learning, but I do not yet grade myself as a Professor... I am still a student in my university!?


    JanB

    You're still doing your PhD ?



    ===========



    BadNuze Triplett

    i think silver has always had a long term projection.. so for me its buy the dips...

    @CopyMyTrades

    when you buy the dips - what is your method for taking profits? Thanks for the note BadNuze - good luck with the draw today!?


    BadNuze Triplett

    Copy My Trades I take profit on a double... Looking for the double bottom but I usually use fibonacci so when it gets to the 50% or 61.8% I'm either taking profits or I'm getting into the trade...


    =============



    Joshua Ude

    Hi Doug, after watching this video, I am considering trying my hands in precious metals in addition to cryptocurrencies. Evidently
    your analysis is a proof that you know what you're doing. Since I've not traded in silver or gold, I can only say that basically, the same principles apply over board. Your Risk Controlling Rule to me is quite commendable. My question is, if you're a swing trader, and being bullish, is jumping out of the market the best option?


    @CopyMyTrades

    I have a basic 'trend change' chart pattern that I watch for - it could be a chart of cryptocurrencies, gold, Amazon Stock or the price of soybeans... this chart pattern is evident at almost every major historical trend change. It is well known, and often seen as part of a head and shoulders formation. In addition, I strive to apply two simple risk control rules. Thanks for the note and I wish you luck in today's draw!?


    Joshua Ude

    Please I'm interested in the 'trend change' chart pattern.?


    ==============================




    Nicki B

    Thank You for this video. I was looking to trade Silver/Gold with BTC it seems that i found the way.
    Did you ever had problem with withdrawing with this site ?



    @CopyMyTrades

    I've been using 1Broker for about two years now and never had any trouble! congratulations! you won today's litecoin draw! Be sure to comment on the new video for a random chance to win tomorrow!




    ===============










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