Silver Exit

Tuesday  31 May 2016

Stopped out of remaining silver position at price, 16.02

25 May – Buy 16.25
31 May – Sell  16.02

Loss = 23 cents, $115 plus $15 commission per contract..

Probably our worst month for trading gold and silver, and
much of it can be attributed to having an expectation of a
breakout bias.  What a bias does is color one’s objectivity
to the point of not being objective enough and seeing those
aspects of market activity that supports the bias and missing
opposing clues.

In the first part of the month, we were unfortunate enough
to have selected a few false breakouts, and the combination
of false breakouts and a bias accounts for the results.

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