I Made $135,000 Because I Was Wrong (rant)
What I am about to share is not frustrating because of the comment I received on Facebook.
Nor was it frustrating that the person who made the comment thinks I was wrong.
What’s frustrating is that if only people listened, they would have made a ton of money.
Let me explain. Yesterday I got this comment on Facebook:
Yes, I predicted that gold and silver would go up.
Not because of the debt.
Not because of the news cycle.
Not because of the pandemic.
It was because of the price chart.
And as you probably already know, we made a pretty penny from the U.S. dollar losing value against GBP, JPY, and Silver.
The Silver trade alone made one of my Elite members over $100,000 (email me for proof).
So, when Rinze told me that “Since last Friday the gold price went down” after I said it was going to go up weeks ago…
It rubbed me the wrong way.
Because this week, I made a killing shorting Gold.
On Monday, August 11th, I sent the following email to my Elite members.
A few hours after the email was sent, Gold did indeed drop, and I made $135,000.
The price action I used to make this trade was first tested by Caginalp and Laurent in 1998.
On page 190 of the scientific journal called Applied Mathematical Finance they show a slight variation of this exact entry:
And just like that, 22 years later, this exact same entry produced another winning trade.
In fact, according to the research, this entry type has the potential to give you a 202-259% to return on your initial investment.
It frustrates me – beyond belief – that people are so wedded to their opinions that they fail to see the big picture.
Price is king.
And just because I said Gold was going to go up, doesn’t mean I won’t change my mind and take a quick $135,000 out of the market on the short side.
If price tells me something, I listen. My opinion a few days or weeks ago doesn’t count.
Trade the market that’s in front of you.
Study I referenced:
Caginalp, G. ; Laurent, H. Mathematics Department, University of Pittsburgh, Pittsburgh, PA 15260, USA. Applied mathematical finance. Vol. 5.1998, 3/4, p. 181–205. 1998