{"id":132048,"date":"2018-08-16T11:42:10","date_gmt":"2018-08-16T15:42:10","guid":{"rendered":"https:\/\/www.countingpips.com\/?p=132048"},"modified":"2018-08-16T11:42:10","modified_gmt":"2018-08-16T15:42:10","slug":"repetition-of-the-basics-is-worth-its-weight-in-gold","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2018\/08\/repetition-of-the-basics-is-worth-its-weight-in-gold\/","title":{"rendered":"Repetition of the Basics Is Worth Its Weight in Gold"},"content":{"rendered":"
August 16, 2018<\/div>
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By Money Metals News Service<\/b><\/p>\n

Whenever you encounter a “sticking point” in some activity – any activity in which you are engaged – it always helps if you “return to the basics.”<\/p>\n

Sure you may “know” what they are, but do you really follow them? Ask an expert in most any field of endeavor, and he\/she will tell you the same thing.<\/p>\n

The basics that lead to outsized results are still around and followed for a reason – because they work! Take the idea of building up a comfortable position in precious metals…<\/p>\n

You’ve decided that you either want to start “stacking” – or adding more to your current holdings. You look at the charts and see that prices are falling, and others are fearful. You’re not interested in “buying the bottom.” You’re looking to build a foundational position<\/u> into that bottom.<\/p>\n

From experience you know that “going against the crowd” and buying when metals are “on sale” has been working since at least 2002, when gold was under $300 an ounce and Silver was below $5 the ounce.<\/p>

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Even at today’s prices, gold and silver are still up 400% and 300% respectively.<\/p>\n

\"Gold<\/p>\n

After reconfirming your understanding and belief that precious metals have remained as a store of value for thousands of years will continue to do so, you move closer to acting on that belief.<\/p>\n

Revisit your tolerance for risk, the financial means available, your holding time outlook, and how much you’re willing to pay per ounce.<\/p>\n

Stop worrying about “catching the lows” and instead get ready to buy in several “tranches” or portions, if at all possible into price weakness. Now you’ve “planned your work.” All that remains is to “work your plan.”<\/p>\n

The preceding paragraphs have taken you “back to the basics” so that you have placed yourself into a position to act on the information thus reviewed. You’re relaxed as you step back and ignore the “noise” of analysts price predictions about where metals prices will be next week or next month, and focus on carrying out your decision.<\/p>\n

What the OODA Loop Can Do for YOU<\/h2>\n

Almost 5 years ago, in an in-depth essay for Money Metals, I penned a lengthy segment<\/a> dealing with John Boyd’s Cycle – the OODA Loop. Before then, and to this day, it has remained for me (and now possibly for you) as the most important decision-making model I’ve ever run across. How and why does it work?<\/p>\n

The short explanation is this: Before starting a particular task, take time to:<\/p>\n

\"OODA<\/p>\n

Observe:<\/b> Check out what’s going on, study the data, get “the lay of the land.”<\/p>\n

Orient:<\/b> Place your world-view, temperament, goals, and resources inside the context of what’s taking place around you.<\/p>\n

Decide:<\/b> Put together your approach – the plan to achieve your goal(s).<\/p>\n

Act:<\/b> Then act upon it! Failing to take that last critical step means that your ‘plan’ will be nothing more than some ideas on paper, or in your head. Something to tell your grandchildren about that you did not do.<\/p>\n

What the (OODA) Loop Does…<\/h2>\n