We took another small loss (i.e., $24 plus commissions) attempting to bottom-fish 400 shares at 17.88. Let’s give it a third try, bidding 17.20 — 0.02 above the 17.18 target shown — with a stop-loss at 17.15. We’d stand a better chance of getting traction without trial-and-error by using camouflage, but I’ve been recommending straight bids instead because I want to make the trade acccessible to all subscribers. _____ UPDATE (February 15 at 10:34 a.m. EST): So much for that bid. We were stopped out for a whopping $20 trading loss, GDXJ having hit a so-far low today of 17.12. With Comex March Gold evidently on its way down to 1569.90, a Hidden Pivot target first broached here a while back, we’ll back away from gold in all its forms for a while.
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The consistent accuracy of Rick Ackerman’s forecasts is well known in the trading world, where his Hidden Pivot Method has achieved cult status. Rick’s proprietary trading/forecasting system is easy to learn, probably because he majored in English, not rocket science. Just one simple but powerful trick -- managing the risk of an ongoing trade with stop-losses based on ‘impulse legs’ – can be grasped in three minutes and put to profitable use immediately. Quite a few of his students will tell you that using ‘impulsive stops’ has paid for the course many times over.
Another secret Rick will share with you, “camouflage trading,” takes more time to master, but once you get the hang of it trading will never be the same. The technique entails identifying ultra-low-risk trade set-ups on, say, the one-minute bar chart, and then initiating trades in places where competition tends to be thin.
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