Silver STRIKE 3!!! Another Day With Great Profit.

As I've forgot to mentioned yesterday, I've took profit on all of my trades... all except 1. 400 units of silver @ 13.4000. I've saw silver's performance yesterday and it's simply amazing. This morning when I woke and start looking at the charts again, seeking an opportunity to make another trade, and of course... looking at the over-all short term trend at the 1-hour chart. Immediately I saw consolidation of silver prices and I planned for my next move. I drew the uptrend channel line for silver in the 1-hour chart and found the potential price it might reach just before London or New York open. The channel I drew shows a potential drop for the day reaching 1.2600. I decided to place a safe trade at 1.2750.

Within a few minutes after I placed the limit trade and it was 30 minutes before London open, it went exactly what I had in mind earlier. The trades were triggered and it showed amazing strength of support, unlike of what I've seen in the normal trading days. I was determined that today will be different.

I was right again.

After the volatility session on higher than expected inflation number of Annualized quarterly US GDP reaching 3.5%... higher than what the market has in mind. Inflation will trigger hedging in commodities. Another supporting reason on today's bull market. It went for a long-green candle bringing me another profit of USD 83 (rounded down).

So, I therefore conclude my trading profits for month of January ends at 17.7% profit. Starting on January 24 with USD 1000 + 177.49 (minus daily interest rates).

I'm expecting silver price to have a small retracement and consolidation around 13.4000 level. which then I will again make another entry. My strategy has always been the same, always buying at the new lows or a.k.a. buying a dip. I've removed my stop-loss strategy because whenever silver has reached a considerably 'cheap' price... there's always investors/traders seeking to support it. A commodity always means a value for someone...

There's few things that I would need to improve myself... First, choosing a good entry point. In my past few trades, I've done some mistakes in entry, ending up in huge drawdowns, the highest I had so far is 30% drawdown. It was scary. Believe me. Perhaps it was luck and it went back up.

Second was my take profit exit, I seem to always take profit a little bit earlier than I should. If I had take profit at the accurate time... I am 100% sure that I'll be making more than 20% profit for this month, which ended up only 17.7% profit. These are the two things I need to seriously work on it.

Anyway, for those who wish to provide me some advice or suggestions please do so because I might need some help afterall. I've sign-up for the 7th Annual Forex Forum which will be held in London somewhere around May. Anyone interested in going as well? Please do email me.
gohrayson@yahoo.com. Hope to hear from you guys soon.

P.S. I've been getting alot of visitors but none has actually emailed me. Is it me or .... ?