I just thought I would use this site as therapy. When I first brought Silver I brought into unallocated holdings, I was bragging to my wife each week about how much money we were making, which she replied "yeah, tell me when the money is in the account". I was feeling pretty happy with myself, until May. I saw the price and my profits plummeting. Needless to say I went into protection mode and did what I now know the 'experts' say is wrong. I sold ALL my silver. I was sure there was a conspiracy as all the 'gurus' did say history repeats itself. I took this to mean that the POS would plummet and take years to get back on track.... A week later I saw the POS stabilise and then rise again......This was probably the most stressful time I have had in investing in Silver as I have been waiting to re-invest when the time is right. Watching the POS silver day and night for a drop in which I would be happy to re-enter.......its probably how a day trader feels.... Over the past week I have been having nightmares of the POS rising to $75 and my wife screaming at me that I was too slow to re-invest!!! Anyway, I did buy last week, funnily enough at the bottom of the market and again this week, as waiting was getting all too stressful. The good points are that I sold Silver and transferred half to Gold.. and I have brought 100% physical silver this time round...... I did read a post about waiting for the dips and a comment was made that in the grand scheme of things I am stressing about saving a bit of money waiting for a drop, where as in the long term it will pay off buying on the rise in a Bull market. Well thank you for listening, the good thing for any other Stressed Stackers waiting to buy is that now I have just brought a stack the POS will possibly take another dip, so you will all have an opportunity to buy at a lower price.....................but don't bet on it.....'col'. My thoughts are that I might have a problem......it just sought of crept up on me........I will now confess my problem... Hi my name is BP........and I am a Silver addict Best wishes to you all....keep stacking!!!! Note col = cry out loud
Never mind B P .Just dust yourself off and be thankful for a lesson learnt. Now just as a little sweatner for you if you ever feel the need to sell out again just contact me and I'll look after your silver for you. therenow thats not so bad afterall!
I'm sure wives would find it nicer to see shiny assets rather some numbers and a chart. It might also encourage you to hold on and take cover when the drop bears come out to play.
I agree, I do like the ability to ring up and sell....but holding the real metal will be make me think a bit more when I want to sell it.
@Bulawan pilak ,just stack it up mate, anytime you have cash in hand. Most of the times when you want to buy, the prices will go up and when you want to sell it will went down. Don't no why =( Stack up as much silver as you can and then change silver for gold when your GSR is in favour @ atleast 30% profit (10% for premiums etc.) Here in ZAR i found it difficult to play it this way as there's almost no silver here. What i do is stack gold through the year and wait for the right time to go and sell (get spot + 4% for my gold), and order silver from BB or other places in Aus. That extra 4% covers my shipping and postage. I never sell silver at the end of the day.
My stash is @ the bottom of the bay with by sunken watercraft. Will not get the SCUBA gear out till time is right. My stash is my core of wealth. Have not added to for a while, but have some fiat powder handy for day to day stuff. Do not hold PM's if you need to get in & out & in & out. Hope all old & newer members are having an enjoyalbe time in the game.
Great story. You're gutsier than others who may just have their tail between their legs and not communicate their mistakes or weaknesses. Don't stress; the word from the "smart" finance gurus (as opposed to the ones mostly seen on mainstream media) is that silver is on its way to 50 and beyond. I believe it because all indications are the financial system is dying (USD, Euro, etc) but don't take my word for it. My goals are not so lofty so my stress with silver is low: 1) I am completely happy not giving the bankers my money (weakening them) 2) I'm completely happy knowing what my money's being used for. 3) Even if I gained nothing I'd be completely happy. Lost a bit? Not the most pleased, but I'd consider it the cost of being my own bank. If I had to put money on it (and I have), I'd say this episode will pass fast when you see silver shoot much, much higher. Don't stress
Hi BP, I was not quite in your position but similar. One day, this month will seem like a little blip on the silver chart. Good on you for the confession - Father Somerset forgives you
Thanks for the great feedback fellow SSers. I am not one to brag or boast to family and friends about my finances, apart from the wife. My wife just says "I trust you" which is great. But it is still fantastic to speak and hear from other people who are stackers of silver and gold......
