A false start

Earlier this week - mid-week, actually,  I was looking at my charts (I shouldn't look mid-week). Guess what I saw? The price of gold was up above the average for the year - a buy signal. So what did I do?  I went ahead and bought some gold. I didn't invest the whole of the portion that I allocate to gold, because part of me thought: 'what if the price falls back down again'?

Guess what? It did. The gold price closed below the average price for the year. This is not a buy signal. I now have some of my allocation in gold, and some in cash. Duh!

One of my rules is to only base my trading decision on the close price at the end of the week.

My trading system is simple, but simple strategies are sometimes difficult to implement......

2017 11 11 weekly asset class review website version from Andy Trendfollower on Vimeo.