Creating A Trading Plan

A trading plan is a must. I would be will to bet that virtually all successful traders have one. However, most new traders have no plan. In fact, I bet most new traders barely even have actual reasons for entering a trade. Imagine that you are planning to loan money to a new business as an investment. Could you picture yourself lending money to this person if they had no business plan and said they were going to start their business based on "their gut"? Of course a person would never be able to start a business by relying only on their gut. However, plenty of new traders start trading in exactly that manner.

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Where is Greece’s gold?

Recently there have been reports that if Greece defaults on the new bail-out package, creditors will be entitled to seize her gold. Whether or not this is true, it raises one big question: given the severe financial and economic crisis in Europe, what is the current collective attitude of the eurozone central banks to gold?

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UK's top gold fund manager: 'I would buy gold at almost any price'

Turbulence across markets globally and returns of next to nothing on cash over the past two years saw investors pour money into bullion. As a result, the gold price soared and Evy Hambro's BlackRock Gold & General fund saw inflows of nearly £1.5bn in the past 24 months alone, bolstering the fund to £3.4bn.

The best performing commodities manager tells us the gold rally is far from over.

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Why the Silver and Gold Price Slam?

To understand the mid-day sell in precious metals on February 29, one must look at the actions of the two most important institutions for short- and medium-term financial planning, the world’s two largest banks, the Federal Reserve Bank and the European Central Bank.

 After news from both institutions, impacts yielded excellent opportunities for precious metals investors looking to get the most “bang for their buck.”

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Red Dot Gold Promote:

Gold went for a roller coaster ride

Yesterday night gold went for roller coaster ride. Right after the speech that no further easing from the fed, gold went down $60+. It hit my stop loss and I'm out for the trade in my spot gold. But as usual, I kept my loss at 3% it didn't hit me as bad.

So question now, will gold goes back up. From the chart now, we see a retrace back up of $15+. Will continue to look for new opportunity to get in again. I'm still long on gold. With the fundamental and technical side. Will I be right? We just need to carry on our life and see what going to happen in the next few months.

Thats all for today.

Spot Gold: Strong resistance @ $1800/oz

Looking at the gold chart. We are see some resistant level at around. Will gold hit over $1800 within this few weeks?

Let's the chart tell us what to do.

Is Gold in a bubble?

The question is gold in a bubble? You will never know till this bubble burst. Is just like you never know gold will raise to USD$1700/oz today.

Since I'm base in Singapore. I will touch more on the local context. In 1997, gold price in Singapore is around $15-20/g for a 916 gold. How do I remember this price so clearly? My parents brought me a gold chain then. And kept the receipt till now. So how much is gold now? $87/g for a 999 gold. My gold now have increase in value by 5 fold. Recently I trade in my 916 for 999 investment grade gold bar so that it's much easier to trade in the market in future.

I will have make a fortune if I have know it will increase 5 fold. But the problem is no one will know till it happened. So what my view on gold?

I will continue to accumulate them. And I believe in the real value of gold. Will I be wrong? Yes. But looking at the bigger picture. If the bigger player like china are producing and consuming at big numbers. I think my probability of losing in will be reduced.

Do your research before going into investment. And is a lifelong education. Even though, you are starting small but at least you are starting.

In my next post, I will touch on. How to invest in precious metal like gold and silver? Where to buy? What to buy?

Thanks.

Jason Pang
Red Dot Gold