May 09, 2006
Gold at $700 - "You are no trend follower!"
He is right. I obviously got off early on Gold as it has risen $25 in the last few days I like to fancy myself a trend follower and talk the talk.
As the title of my Blog says though - ..find them, ride them and GET OFF.
Getting off is important and a good system should work by getting you out of a trend before all your profits disappear.
My comfort level seems to be selling on the way up. My fund has allocations to more mechanical trend followers that may shudder at this thought but that is why they are in my portfolio. If Gold goes straight to $2,000, I will participate. The money that I see everyday in my account forces me to behave in my personal comfort zone.
Before I discovered trend following, I never fathomed the gains I could see by sticking with something in motion that "was not broke" For now, I will settle for that and stick to my comfort zone.
Thanks for calling me on that Cole.