^^^ cheers for that! I never knew you could buy in twice if a price drops very low, I just had a look in my plus500 platform and you CAN do this too. this may have saved me a few grand in the months simulator practice I did first, I guess you learn something new everyday!
Buying on the way down is the way to play it, it'll bring down the average spead just like cost averaging in physical. BUT When you buy again make sure you select "force open" or it'll close any other open positions.
Jesus. I hope you know what your doing, 200 per point. That's one risky move. How far can silver fall before your account balance requires a margin call? I think they would just end up closing your position rather than a margin call, so I'd make sure you have a healthy balance. Unless of course you have a good relationship with your spread bet broker. If the trade goes in your favour you will be in for some nice tax free profits. What's your target price? Or you will just slowly reduce your holdings if the trade goes in the right direction?
I've currently 52k in the account which I built up in from spread bets over the last 12months, (started with 10k) I'm hoping for a 2.50 spike/climb ( which is more than realistic ) that'll give me 50,000 tax free
Nice. I hope the trade goes well for you. You have a fair amount of room for a little more further downward as well so should hopefully go ok. The IG index platform is nice, definitely my favourite of all the companies. My few years spread betting / trading was never profitable. Glad I did it though, as I gained a lot of experience, also glad I started when I didn't have that much money, otherwise I could have ended up loosing a lot rather than the small amount I did. My planned investments now solely include my own businesses, precious metals and property because for me these assets are less risky. I hope your trade goes well.
A very easy task thanks to the advent of the www is to find long term PM price charts. Print them off. Next, look at points along the way where catastrophes occurred; wars, finical crises, my birthday etc. Need details of crisis dates? Easy enough to google! Mark these with a biro on your printouts. I've made my conclusions. What are yours?
it`s not looking good this morning, seen silver dancing around the 19.27 mark, had to take a second position at that point, and i`m still strugling to break even on the spread for that! Platinum isn`t doing too well either, in fact it almost seems to track silver, I`m guessing there`s another ratio to be had there perhaps? I really hope all goes well for you in this venture, it`s certainly a bumpy ride!
Wow! cleaned out my entire acct! I was margin called out of the game entirely and have a grand total of 4.09 left. this has got to have Killed you
Currently sat -6000 on this deal ticket, I'm not overly worried just yet ( I've got 6 other open positions that are over 12 months old all opened at +$22.80, think it'll be a while before I ever close them)
That's the game, that's why they smash the price down to just let it come back up again on the same day, surely they can see/know what open positions are out there, if there's lots of longs they'd smash it short
Right, I get it. For some reason in the UK they call CFDs spread trading. This thread makes more sense to me now. You guys are just punting on silver. Look up intercommodity spread trading. More control, less risk, easily hedged and good for an entry into a trade like this, as I mentioned earlier.
It's Just over 9000 up at the moment, I'm gona let it run I think we'll back into $22+ In the next week or two (fingers crossed)
