Ricks Picks

Time for Fearlessness, You Gold Bugs!

EST

A subscriber who follows gold closely was having second thoughts in the Rick’s Picks trading room Tuesday about bullion’s rally. “Some of the experts say gold hit a high and is going to plummet by Labor Day,” she noted.  “You know better,” I replied, “than to let what ‘some of the experts say’ affect your thinking. None of them is any better than his last ten predictions. Meanwhile, I’ve hung out very bullish rally target at $1623 — not just for your benefit, but for mine too. I’ve avoided blowing out my call spreads too early simply by hedging them with high-leverage put spreads that cost me almost nothing and which I don’t mind having go to zero.

Don’t Wait for Bargains

“Waiting for gold to plunge, as it always used to, so that we can scoop up some bargains has not been a winning strategy lately. The experience should have made you ‘feel’ by now that the experts you mentioned are wrong — also, to understand that when gold finally took off, as it clearly has, how it would do so in a way that would trick bulls out of reaping the rewards they have so patiently anticipated for the last eight years. As [another serious gold trader] has repeatedly emphasized in here, this is not the time for bulls to turn skittish.”

Bottom line: The rally in gold is for real. If you hold a long position, it’s okay to trade around it, possibly with covered writes, or even to trade in and out of it. But when occasional shakeouts occur, as they will, consider them buying opportunities —  time to reload.

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Seminar Information page.

Tuesday, October 15, 2019

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.

Most important of all, Rick will teach you how to develop market instincts (aka “horse sense”) by observing the markets each day from the fixed vantage point that only a rigorously disciplined trading system can provide.

The three-hour Hidden Pivot Course is offered live each month. If it’s more convenient, you can take it in recorded form at your leisure, as many times as you like. The course fee includes “live” trading sessions (as opposed to hypothetical ‘chalk-talk’) every Wednesday morning, access to hundreds of recorded hours of tutorial sessions, and access to an online library that will help you achieve black-belt mastery of Hidden Pivot trading techniques.

The next webinar will be held on Tuesday, October 15. Click below to register or get more information.

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