11/22/21 – Selling Into Strength – 20% Profit in NEM Gold Position Trade

April 20, 2022-10:00 am traderscott The Entry Points Market Blog 0

Selling into strength is in itself one of the premier strategies in the business of trading. It is not remotely fancy, but it is extremely effective. I almost always sell too early, but I have done very well at this business by selling too early. Very few people can ever learn to do this “correctly”, (there is no perfect way to do this). There are only good/very good psychological/strategic/risk management/defensive aspects to it. Below is discussion of NEM, and selling into strength, taken from a previous post:

Gold hit its all-time high on Aug 7, 2020 at $2075 – I did a good amount of selling at that time. Gold then fell to $1670. As my readers know, I despise people who claim they make money but provide no proof. Below is a position in NEM which I sold at around 8AM in the premarket, that caused all the partial fills to sell the 560 shares, the broker fills are included, along with the original chart plus updated charts. Click on images to see clearer.

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About traderscott 1146 Articles
Trader Scott has been involved with markets for over twenty years. Initially he was an individual floor trader and member of the Midwest Stock Exchange, which then led to a much better opportunity at the Chicago Board Options Exchange. By his early 30’s, he had become very successful in markets, but a health situation caused him to back away from the grind of being a full time floor trader. During this time away from markets, Scott was completely focused on educating himself about true overall health and natural healing which remains a passion to this day. Scott returned to markets over fifteen years ago where he continues as an independent trader.

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