Thanks for your post Thommo25, although I have been watching the gold bull for over a year now, I had a busier job before which prevented me from reasearching it and learning about why its happening. During that time the only difference between me and some others around here was that I knew I was uninformed so didnt shoot wild trash from my mouth for sake of keeping it flapping, or rather me typing.
I have made some (bad/ordinary) enteries into the market, but I dont regret them as they were like make a position or wait for a dip that may or may not come, now that I am in and in good, I can trade the dips/peaks while keeping my really long position in tact. Your right about the fundamentals "this time it's different", this bull market is damn long and solid and has been building strength like no other, and all this INSPITE of CB sales, and apparent slow down in Indian uptake.
Gold seems to be the pessimisits investment, and that's me, everywhere I look I see unbridled excesses and essentially legalised corruption and cartels (CB's are the pinnicle). It just screams to me that it will eventually fall, and so gold is my catostraphe hedge.
Beware, that gold is a seasonal metal! generally from now March/April to about August gold doesnt move, or may actually loose ground, then from August to March it puts in 90% of its rise! Happened the last 3 years, and will happen again this year. Except, I think the metal will rise in our winter months too purely on the rubbish state the world's financials find themselves in now.
I haven't traded CFD's, and haven't used any margins, main reason is that I dont want to be shaken out, and I am not able to accurately pick rallies and contractions. Had I been able to, I would have ran for shelter last week rather than weather the storm.
I will try to remember to watch Ira's updates, I saw one another time as well, and liked it too, cos it seemed to lack a lot of BS, and when he is unsure he doesn't just guess. LOL, how novel! Oh another thing, apparently bull markets in commodities go on for decades with shorter bears inbetween (years).
