After hours trading summary

This morning I expected GDX to rise to in between $21 and $21.50. It came close for a while when it was oscillating between $20.80 and $20.90. I didn’t sell NUGT at these levels because I like to stick with my plan. I had a stop-loss set at $14.00 for NUGT, which got executed for a loss of about 2.5%. This week was not the best week, but hey, it happens. Be skeptical of anyone that tells you they always have good weeks.

What’s important in these moments is to:

1. Ask yourself if you made mistakes
2. If you did, understand them and be sure to not repeat them
3. Forget the loss and build a new plan for next week

By looking back at this week, I don’t see any mistakes I would have made. I had a well-designed plan backed by solid analysis, and I simply executed it. To go further, in my opinion, the result is irrelevant; In the long run I am profitable, and have been for years.

I will therefore spend a lot of time on step 3. Gold stocks like GDX and GDXJ can be awesome investments. However, trading them has been a headache this week and I think it will continue to be next week. I will therefore turn my attention to another commodity or maybe even change industry.

I will analyze a lot of stocks this weekend, so if you have any suggestion, be sure to leave me a comment with the symbol.

I will put my trading plan summary and my stock picks for next week in my newsletter, which will be delivered Sunday afternoon. Be sure to subscribe before then.