Why I Didn’t Buy Gold in the Last Few Weeks

[m_c_jacob]

I’ve been bullish on gold since the beginning of the year — expecting it to reach $3000, and in a very optimistic scenario, maybe even $3500. My previous posts are proof of that.
But I definitely wasn’t expecting $4000, and certainly not $4200, for one simple reason:
Some time ago, my crystal ball broke, and since then I’ve been trying to base my trades on technical analysis and what I’ve actually seen happen in the past — not on wishful thinking.

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When Price Doesn’t Correct, But You Still Profit Selling
Ever since gold hit the $3700–$3800 zone, I’ve been expecting a correction.
It never came.
Even so, I still made money selling against the trend — something I usually avoid and definitely don’t recommend anyone to do.
But this post isn’t about my trades. It’s about why I didn’t buy gold in the last two or three weeks.
And the answer is right there — on the chart.

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The Chart Tells the Truth
If you look closely, you’ll see yellow rectangles highlighting the sharp drops that happened during this period.
It’s easy to look at the chart after the fact and say:
“I should’ve bought there.”
But imagine you don’t see the right side of the chart.
You’re sitting in front of your screen, looking at the current price, trying to decide what to do.
And then — within minutes — gold drops 700-800 pips out of nowhere.
No signal. No alert on WhatsApp. No warning.
Where do you put your stop?
Do you trade without one?
Just because you know it will bounce?
And what if it doesn’t?
What if it drops another 1000 pips — the same way it just did — without even breathing?
That’s not trading. That’s hope disguised as confidence.

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This Is an Exercise in Honesty
This is an exercise in honesty with yourself — not after you’ve seen the chart.
How many of you would’ve stayed in a position that’s -500 pips, just because you “know” it will turn around?
Even now, right after I finished recording the video, it dropped another 500+ pips like it was nothing.
I’ve explained this a thousand times:

1. If a trade is not there, it’s not there. Period.
   I don’t force it. I don’t FOMO.
2. A trade must have a clear entry, stop, target — and most importantly, a reason.
   “Gold is rising, can’t you see?” is not a reason. It’s FOMO.

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If You Want to Be a Real Trader, Remember This

1. The market has two directions, even when it looks like it only has one.
2. In aggressive trends, even my cat becomes a great trader.
3. Every trade must have a clear reason. If it doesn’t, and you enter just because “it’s going up”, that’s FOMO — and we all saw what happened to crypto in 2021. People are still waiting for the mythical altcoin season, while some are still 70- 90% down on the bag
4. We’re all geniuses after seeing the chart: “should’ve bought there, closed there…”
5. The only real truth is in your equity — and mine is higher, even though I’ve been selling.
6. I can guarantee there are gold bulls reading this right now who lost money on long positions over the past month.
7. In the end, it all comes down to money management and timing.

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Conclusion:
Trading isn’t about being bullish or bearish.
It’s about being disciplined, timing and money management; the rest is can-can, and "I told you so"

P.S. Once again, I’m looking to sell — and if it works out like my last five trades, that’s perfectly fine with me.
At the club, they don’t ask whether I paid for my champagne with profits from buying or selling gold.

[Nahid10]

When Price Doesn’t Correct, But You Still Profit Selling