I noticed that in January, if you weren't in storage-related sectors like memory space, gold/silver, or precious metals, it was basically very hard to make money in the market.
I saw many experienced traders facing drawdowns, and even losing streaks, in this choppy market.
I was no exception. In my January trades, I consecutively stopped out on ALAB, APLD, NBIS, IE, ONDS, LMND, FSLR, DOCN, COHR, LGN.
The only profitable ones were ASTS and FIGR. HUT, IREN, SEI (sold at breakeven).
At the end of the month, I noticed that the charts for silver and gold had become overly extended (you can see it from the ME chart).
Generally, when commodities get too high, it’s not a good sign.
I also mentioned the phenomenon of silver in short videos I started making on my social platforms (FB and Insta).
Then I found an inverse ETF (ZSL, double short), and opened my first position. The first time, I stopped out, but the second time, after buying in, I held steady.
What I'm waiting for is the silver price to rebound from a lower high, then I'll add more.
As expected, silver continued to fall yesterday, ZSL...