Use the below command:
cd my_directory/ && tar -zcvf ../my_dir.tgz . && cd -
This should do your job in one line. It also works well on hidden files as well. "*" doesn't expand hidden files by path name expansion at least in bash. Below is my experiment:
$ mkdir my_directory
$ touch my_directory/file1
$ touch my_directory/file2
$ touch my_directory/.hiddenfile1
$ touch my_directory/.hiddenfile2
$ cd my_directory/ && tar -zcvf ../my_dir.tgz . && cd ..
./
./file1
./file2
./.hiddenfile1
./.hiddenfile2
$ tar ztf my_dir.tgz
./
./file1
./file2
./.hiddenfile1
./.hiddenfile2
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