In my first post to the site, I mentioned getting long the silver miner etf SILJ. Since that time the price has dropped and I have continued to add, in order to get up to a full position and on slight margin now, with my intent to get even larger position size on further margin. Right now I am 115% invested, and that also includes starting to buy the GDXJ junior mining etf into this decline.

Eventually I would like to have a page on the site with statement snapshots updated daily, so subscribers can see exactly how I am executing my trades according to plans.

So as it stands, the accounts I manage for viewers here are currently taking a drawdown, with an average price of just under $8.46 for SILJ, and $28.76 for GDXJ. Drawdowns are a part of trading, and one cannot let them undermine our emotions. Perhaps it was best to open this site with a trade that thus far isn’t working, rather than to give traders a false sense that everything always works out, straight from the gate. It’s part of the game, and I remain focused on the plan, not the P+L. I will continue to add into pullbacks, on these etfs as they are still in uptrends that started late in 2018. I managed to buy a good chunk yesterday, for those that wish to check the accounts in the subscriber section. This trade was a great way to start the new site, an entry is rarely more difficult or trying than this trade, so lets see how we make it work for us, despite appearing a lost cause.

Here is a chart of the SILJ etf, a junior silver miner fund I have been buying. The precious metals miners (GDX and GDXJ etf) have been in an uptrend that started back in October 2018, while the silver miner etfs started their uptrend in December 2018. I like to buy groups that are in uptrends overall, but currently experiencing a pullback, of which SILJ fits the bill. I am in SILJ for a longer time horizon and will explain in subsequent posts, but for simplicity sake and because we are using the daily chart for this setup, I will size the position using the average true range (ATR) of the last 20 days to determine expected volatility, along with my total portfolio risk (TR) of 2%. With an ATR of .25, a $100K portfolio would risk 2% or $2,000 TR, which we divide by the ATR of .25, for a position size of 8,000 shares with a stop 25 cents lower than our execution price. Then, we let the trade take care of itself.