Gold A "Safe Haven" In This Market Decline?

I'm doing OK. Improving on my craft. Practicing my micro-edges and executing them in real life. So cool to see it plays out correctly. Working hard to cement my thinking habits and execution before I scale up.

I was reviewing my old bad trades. Whew! Ugly! The way I think about trades, trends, momentum, mean reversion, price action now vs during my horrible trading period is like night and day!

how about you?

 

All in on HYG Puts still... June and October Expiry's, waiting game at this point

 

That's cool. So, what are you doing in the meantime to generate income? I'm assuming you have a job?

 

Yup, if I hit it, I am going full time trading by year end

 

Gold is such a sad sad asset. Even as market is tanking it still didn't rally hard. WTF? So much for safe haven status. Every time US Dollar rallies, gold shits in its pants.

 

The 'experts' have said these conflicting things:

- during crisis, people buy gold (and sell USD)
- during crisis, people buy USD (and sell gold)
- when stock market is up, gold will be up because more gold is needed for industry
- when stock market is up, it means less crisis. Then gold price will be down.

Gold is truly a safe haven way before we were born & that's where the experts failed to mention.

anyway, lately gold has not been that volatile, that trendy.

 

Having said that, I actually bought GC futures late yesterday. Glad I did. It rallied hard.

 

Great call, it's up ~10 bux per. $1,000 per contract.

 

still holding it...

 

Be careful, and place a trail target on it. Don't lose those gains.