maybe the other assets you own has devalued by that much though , or maybe your wages have gone down through inflation, dont worry though feel sorry for the man that hasnt been educated by Silver Stackers
Up to this year I just stacked silver as a way of preserving wealth / negating inflation but so far it has done alright by me, of course if it would just stop going down it would be helpful!
Are you serious? That is like saying "Some people who play poker win!" I'm not knocking anything, or saying the OP has no idea what he is doing What I am saying, is that charts aren't unaffected by current economic change. Some people win at poker and some people lose Some people get lucky picking a chart fall and end up winning and others make the same attempt and fail. Go have a look at the 'Monday CME' thread or whatever it was called and have a look at all those predictions that flopped for a good example in the past week!
It is not luck. Skill or art form is a better word - Have you heard the old saying, the more someone learns/practices the luckier they get? There are stupid poker players, just like there are not very intelligent chartists - but that is like comparing Lance Armstrong in a race against an obese guy in a wheel-chair. A numbers game - a good chartist doesn't expect to win every time. He is usually happy with near 80% success.
That CME thread had nothing to do with charts, its all to do with wrong information ... just like how a news reporter could come out and say ECB not going to bail out italy EVER .. and then come out and say .. sorry i meant to say they will bail out italy. It was wrong info through a mistake via media. If someone gave wrong economic numbers, unemployment, growth, inflation then fundamentalist would be screwed to .. that thread (its original jist) HAD nothing to do with charting OR luck. It was an incorrect piece of information .. After the actual amendment came out, people corrected their responses .. i for one closed of positions that i was gonna take come monday ..
Haha I completely agree with you and I think that is the funny thing. Use whatever word you like, investing can be a form of intelligent gambling, especially when you take daring chances on hard to predict circumstances. Yes, some are better than others. But I didn't knock anything. Are you one of these 'good chartists'? Do you have the balls to buy and sell everything based on chart watching in Silver? Kudos if you do Most people here make a 344554 predictions but very few have the nuts to back it.
When the ATO comes a knocking on Hiho's door looking for their CGT he will point to this (and others he's made in the same vein) saying that he bought gold for preserving his savings. That should see him A-OK When the ATO knocks at BBQ's door they'll point to this thread, specifically this quote saying "You bought with the express aim of making a capital gain. Where's our cut?" Personally I'm buying as a form of saving as I believe that PM's offer the only way to preserve one's wealth in a fiat economy
Fair enough pmstacker, I do see the difference there, but do I need to recall the many similar chart based predictions announced here that haven't occurred? The CME thread was just the first thing that came to mind. I can see how false media reports or even truthful media reports can trick people into making investment choices that flop. IE Selling positions prior to a positive EU announcement of some kind as the price may or may not drop. Charts are similar however, in that you cannot necessarily look at a chart over a period of time and predict that history will simply repeat itself without considering any external influences, such as economic change or political stability. Very few chartists seem to be correctly catching the drops and rises as these predictions are simply based on assumptions. Don't get me wrong here, I am not looking for a debate on whether or not it is or is not unwise to follow charts! Trust me, in time I will be a lot more focused on them and hope to learn a lot, the only point I have been trying to make is that previous spot change cannot project what will occur at the same time the following year without taking various other factors into consideration. If that was true, we would ALL simply sell everything once a month at every dip because history would have to repeat itself without change.
I think it is comforting to be able to look at a chart and understand what just happenned and then try to put it into context but the forward predicting abilities I find to be more witchcraft than science. Most charts are described after the event, people say "that was a dead cat bounce" rather than, "watch out, here comes a dead cat bounce in 3...2...1....." Way too many variables to say "this is what followed after the last time, this will therefore repeat now" If charting was that predictable there would be no fun in it and we would miss out on all the Black Mondays/ Tuesdays and all the other Black Days that catch the traders unawares. One day future civilizations will be unable to tell the difference between charting and other forms of necromancy. Maybe I just hate statistics.
Yeh true, charts can indicate but THATS it, use them with caution and dont ignore the FA cause if you do you would really get screwed. There was a post on this earlier about TA with some cool videos and an initial debate about how the whole thing works from its origins .. you can catch it here http://forums.silverstackers.com/topic-17603-technical-analysis.html . For now we dont yet know how to create time machines so we use, math, charts and FA to do our best in predicting what we can. Some people prefer one or the other, its up for debate cause different methods work better at different times, just like arguing about anything else that is subjective ... <geek hat> NoooOOooOooO ... dont hate Statistics, its absolutely the coolest form of math there is ... it governs everything and probably holds some very key ideas in nature ... though since the financial markets isn't essentially nature (specially with governments intervening) probably why things still get screwed up alot. </geek hat>
I need to maximize my purchases since I'm kind of a small potatoe. Could you please tell me who the 80%ers are so I can follow them a while before I use their advice. Thanks in advance.
gold can be an investment provided that your 1 oz can be turned into 1oz + say 1/4 oz => 1.25oz at the end of the day. if in the end of the day, you still hold "the one ounce" and only the price has gone up, then it is wealth preservation. hope we can get better bargains this time
Charts say it's a death cross eh? *checks ounces in my stack* Nope, still the same as before. Carry on...
I refute entirely the suggestion that 'all of a sudden everyone loves silver' - for those who bought 10 or even 3 yrs ago it's no wonder... but given the massive overleverage of paper vs physical it matters not a jot what happens short-term at the hands of the crooksters... WE have the real deal... unlike all those poor suckers holding paper... For them ahead lies the prospect of a true nailing... and the realisation that what they're holding is quite literally... utterly worthless. (See my post re GATA which I'm about to put up on the main Silver forum...) x
Seriously if you are worried that the price will drop then pack your bags and go home. You either think Silver will exceed $50 sometime or you dont. If you dont need to sell your stack in at least 2 years then no point worrying. If you do, then buy as much as you can now because we have already had 2 huge crashes. So what if it drops to $20's you can just buy more for longer. whether you buy at $35 or $25 is kind of irrelevant. Deep down you should know when Silver is going parabolic and is in need of a correction. The trick is to buy the dips and if you have the balls you can sell when the price is moving up too fast and then buy back in at a lower price. It's not that hard. I stopped buying at $40 earlier this year coz it was obvious we were overdue for a correction. At this point its obvious silver is a good deal. It may go lower but you definitely cant go wrong still buying at this price. I know when your hard earned money is on the line then emotions can run wild but we need to think about all this logically. Sometimes I need to remind myself of the above. I have made a few thread worrying and second questioning decisions Ive made so I cant really talk but hope this helps anyway.
Mate - good strategy - same here I stopped @ 36-37 when I sensed things getting too toppy - share your view totally VRS x
LOL. Mentioning that gold has gone up 25%+ since I bought obviously puts me in Kerry Packer territory Plus I haven't sold those couple of ounces, so there's no gain yet I have mentioned in the past I got into it for wealth preservation (go search my posts), but I never understood how a 25%+ jump in value can not be considered an investment. I suppose it depends entirely on what you're buying (maybe some things have gone up more than that). But to me, it clearly performs like an investment should Of course I am happy about it (surprised actually), and I should have bought more. The amount I have isn't doing much for me. Here's to 3k and beyond!
