Long silver at 20.79$

http://www.iciforexdaytrading.com/ - I am not a long term trader trader, but Silver is probably the best market to invest in the next couples of years. We finaly did reversal from the Downtrend, we need to see if buyers will push the market higher or the sellers will push the market down to test previous down peak. The opportunity was very good, I took at 20.79.

I'm prefer to go short around @22 price based on MACD and fibo expansion. Have safe trading!

~SL

We are already at 23$, the S&P fail is uptrend continuation. I will never go short on silver at 22$, not long term at least. Stop looking at indicators and understand how the market move and why it move that way.

I'm mechanical, I had short but stop out. It's less than 1% loss of balance

OK, you used stop lost. Protect your money, by not risking to much is the name of the game.

Silver close the week at 23.23$, 13% rise in one week. 9 up days in a row. We should have a pullback from that move before going higher.

I did entry short.
target 18.00

Move your stop lost to break even very soon. Because the chance to go back to 18$ is very low, but we should do a pullback. For myself I will never go short long term on Silver. I only trade Silver long term, I did wait for a bottom reversal and enter long at 20.79$. But I am a short term Professional Forex trader.

We hit 25$ this week, now we are doing a pullback, probably between 22.50 to 23.10. We are now at 23.50.

One week ago I found out by a common friend (and one of Franks customers) that Frank left us. I had spoken to Frank maybe a couple of times and we have communicated not too often.
But when I find out that a trader leaves us I need to mention it.
I am going to mention this cause I know Frank would want others to know this, AS THIS IS THE LAST LESSON HE WOULD BE ABLE TO TEACH US.
Frank took his own life last summer. He was over leveraged with OPM (other peoples money). He decided to martingale to get out off the hole, witch always did work for him in tight times, but it looks like it did not work.
Even the best of us make mistakes and since we are human some peoples emotions do kick in more than others.
Frank was an experienced trader, he used to teach(not martingale) and also trade OPM.

Tomorrow would have been a better day Frank.

R.I.P.

R.I.P may god bless you and your family frank