Monday, November 12, 2007

I Wanted to Be Clear About the Wealth Building Strategy that I Posted Yesterday

What a mouthful. I wanted to be clear about what I wanted to say yesterday.

To be a successful trader in the commodities markets sometimes not making a trade is the best wealth building strategy. For instance. If I am looking to buy gold and my strategy is to buy gold once it goes back down below $800 per ounce and gold does not go below $800 per ounce then I stick with the tactic and do not buy gold.

What I learned, which I think is very valuable, is that I am not going to make every trade. What I also learned is that the wealth building strategy I use to evaluate one trade may not work. If it does not work. I leave the trade alone and move on. This way I feel like I am in control.

Thanks David

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