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I have checked out Gary’s blog for a while. Last weekend Gary let people to access his premium site for free, a subscriber said his long-term predictions were not very good.
I have to say, Gary’s approach is unique. If it works well, would be great. And it’s appreciated that he shares.
Unfortunately, I agree with the subscriber, Gary’s long-term view is often wrong, because he doesn’t understand the big picture.
He may say, who cares, he focuses on the short-mediate term. He likes to say how good (he is) picking the “exact” top/bottom, although many people don’t agree. So I checked out his stock (which I am more interested in) trades in his premium site last weekend. Boy, what a bunch of nibbles and whipsaws in just a few months. His trades look just like a typical short-term trader’s, it reminds me Trader Vic and George Soros.
To be continued due to length …
To be fair, I think Gary is a good short-term trader, not many people can do better than him in short-term trading. Those who are short-term oriented, don’t care about nibbles and whipsaws, may be able to benefit from him. However, I don’t like the short-term approach, I am more of a long-term guy, I understand the big picture, I trade occasionally, and I have been holding 100% for years.
So, Gary is good, but just not my style. I appreciate his sharing, good luck to everybody. Bye.
That happens when trying to get into a trade. If I don’t pick the bottom correctly then we can take several small losses trying to get into the position. Generally speaking though I would much prefer to trade the intermediate term and that’s what we are doing with the stock market right now, having entered at the intermediate bottom two months ago and are just holding positions. That strategy is basically impossible to employ with gold since it is still in a bear market and not producing any sustainable trends.