Gold Trading Boot Camp: How to Master the Basics and Become a Successful Commodities Investor

CHAPTER 12

Welcome to My Boot Camp

I can’t give you everything you need to know about precious metals, and I don’t presume to say that I’m the most knowledgeable about this subject, especially about mining. But, you do not need to be an expert in the mining arena to successfully navigate the precious metals markets.

There is still, however, much that you do need to know before you can start trading. You must have a basic understanding of the mining industry’s supply-and-demand (S/D) fundamentals, along with deeper insights into the dominant top-down macrodynamic. You also need to have a complete overview of the technical structure of the market including a comprehensive integration of intramarket (within) and intermarket (among other markets) analysis.

From that point, it is up to you—as an individual investor, trader, and speculator—to make your own decisions. You have to determine your risk profile (see Chapter 41 for information about assessing your risk) and how you can combine these factors into the investment decisions that make the most sense for your circumstances.

To help you learn the process for making an investment decision, I describe all the relevant information, how to dissect it, and how to devise a useful trading strategy. Because you have your own risk-reward situation, I can’t offer a universal trading strategy. Instead, I describe my own routine including all the data that I want to know every day when speculating in the precious metals markets.

I catalog my ...