Couldn't agree more. It amazes me the number of people who will bag anybody who mentions R/E but get someone who sells silver to say that the price is going to the moon and everyone is calling him the greatest sage on earth. No recognition of the conflict of interest. malachii
Are you serious dude ?! No, trading wont tear you a new one. That is probably cause you have NFI how to trade (sorry to be so harsh) . People trade successfully every day. With the correct information, the the correct models and not letting greed or emotion get in the way, people trade every day successfully. If you trade and make a 10% gain and exit, ad that trade moves up another 30% , that trade isnt seen as a failed trade, its seen as a win cause you end up with more money. Even thinking that was a failed trade is letting emotions in. There are some markets that will tear you a new one such as the forex and there are obvious reasons why. Either people cant bankroll it enough and so MANY factors are at play that it does become somewhat of a gamble, but trading commodities and stocks if done properly DOES not tear you a new one.
I also like Mike M. But, as stated on the other thread(Kiyosaki fans take note)... I love his work, books and insight but I do not trust him 100% ....
Man, I just don't get it, its almost like a cop out. Has anyone ever thought of the reverse, he shows you that it goes down then goes up .. DOES he EVER talk about the period that it stays down. 2 years, seriously .... how can you be happy with two years of sideways trading at a price lower then it was bought at ? Its a FAIL. What Mr mike baloney is trying to tell you is, get comfortable with loosing your money and when you do it often enough, you will get used to it ... :lol: That isn't the right advice to be giving ... If he teaches you how to buy and when to sell that's fine, he is literally saying, buy buy buy and NEVER stop buying using the same BS about cash going to zero. Right now CASH is not zero, go to the freaking store and pay for your groceries with silver/gold or go and pay your kids school fees using gold/silver, doesn't happen. Cash is worth something right now so if you can gain more of it to live your days better then that's the goal. Do people really think cash will go to zero overnight, like one day you will wake up you go to the store and they will say, sorry your moneys not accepted ?! Really ..
Thanks for this post. To think that I had almost given up on this forum. bias is one thing, ignorance is another.
Sorry i dont get it. i see him selling gold and silver to make a profit ... and he happens to believe in the story of gold and silver. so he's selling something he believes in.
The reason R/E people get bagged is because R/E is a toxic asset at this time. Silver is in the exact opposite position to R/E at this juncture as far as its value is concerned ... SAVVY ??!!
So let's get this straight ... you sell silver and make a 10% fiat profit. but now silver continues going up and the minimum price henceforth is 30% above the traded fiat price. Ummm no ... this is definately a failed trade!! Why? Because you will end up with less ounces ... SAVVY ???!!
In that case, I have some land on Russell Island to sell you. Spectacular views. Bargain of a lifetime.
I would actually like to know how much of Maloney's personal wealth is invested in gold/silver as a % that figure would either make me feel better about this or worse.
So in your eyes unless you sell at the exact top its a failed trade? Because you could of got more ounces or more money? Thats how you go bust, always wanting more profit and not selling. Profit is profit is profit, capish?
No not really. In the endgame all that is going to count is how many ounces you have! If you are one hell of a trader and you can trade out and back in - GAINING ounces in the process - then i take my hat off to you and say you've made a profit! if after the trade you're sitting with less ounces then you've made a LOSS! SAVVY??
mate - in the end the only thing that is going to count is how many ounces you have. if you can increase your ounces by trading then you're winning! if your ounces go down, then you're losing....
It's this fear of losing ounces that could result in holding too long and getting caught out. At the end of this bull market the winners will be the people with the most fiat profit, not the ones left holding the most ounces because eventually silver will crash bigtime. I've just been through the same process with property. I loved to be able to drive around and look at my "portfolio". Not that is was huge but I worked hard to build up a few properties and was reluctant to part with any of it. Eventually I convinced myself that if I was going to stick to my strategy then they had to go. At this point in time I'm much better off holding the profit instead of the houses. Sometimes the same will be true of silver. Profit is first and foremost in my opinion. Silver, like houses, is just another vehicle that you can use to turn a profit. It's not the be all and end all. C
Yea i understand this, i sold all my property's in early 2010. One of the most important rules i have found with investments is dont fall in love with them. I have both gold and silver and they look nice but when the time comes to sell i don't hesitate.
Lets say I take profit all the way up throughout this bull market and put the money into other worthwhile trades, investments or businesses. I'm profiting from silver and reducing my exposure to it the higher/crazier it goes. If I've done the right thing hopefully my other trades/ investments will do well also. To your way of thinking we should be continually accumulating silver so that by the time we reach the dizzy heights, (remembering though that no one rings a bell at the top) all your eggs are in the one big silver basket at an average cost that is continually rising and you just have to hope to god that you get out before it's too late. But hang on, you wont want to exchange all these valuable ounces of precious silver for dirty old fiat so you might just hang on a bit.........BANG.......too late. SAVVY ?
