Part 2: gold

10.24.24 when markets make new highs... especially all time new highs.... they can be very difficult to trade. obviously when markets make new highs they're also more expensive and expanding markets such as gold represent large amounts of dollars... and if you don't know what you're doing you can lose money or give back money in ways that can really end up being very stressful for you as a Trader. generally as far as I'm concerned I don't want to be a Buy and Hold when markets are at their all-time highs because most of the time they correct. even if I got in at a much lower price... generally speaking I find it's not a good move to buy and hold every time the market makes a new high.... because I'm thinking I'm going to give money back. markets generally range when they make new highs..... think of these as climactic markets that look phenomenal but they're a setup for significant Corrections. obviously this is not always true but from a practical point of view it's true most of the time from my point of view. if you trade multiple contracts it can be helpful to scale in and out of the market and this can yield a very nice return and maybe less stressful if you're willing to trade reversal patterns and Corrections knowing that the big money generally isn't all in or all out.... they probably scale in and out trading larger amounts of money than you and I would trade. a few years ago on trading view I spent some time discussing my version of scaling in and out of the market. A long time ago when I didn't know how to trade I studied some of that from books that you could buy at Barnes and Nobles and I have to tell you it never works for me because I wasn't ready for it and I didn't really understand or follow the strategies of the people who wrote the books. a few years ago when I was interested in working with only 2 students 1 of whom was a very close friend of mine for many years and the other was her sister.... and for different reasons I started talking about scaling techniques for one sister because she was Trading much more volume and was very aggressive so I thought she could reduce her risk because she was Trading 4 or 5 contracts at times...it and I thought that was too risky.... even though she did very well in her Trading... she was amazing..... and I would find out from her sister what she was doing. but my friend didn't have that kind of money to risk.... so I tried to show her how she might trade using scaling techniques using two contracts so that she could stay in the market longer in a way that it could make you very nice gains with much less risk most of the time.... I found out that if you are absolutely risk adverse you can't trade.