Calendar week 16, second week april, as a last low hit (on the 4 months term). In USD, what it will be relative to today in other currencies, requires taking into account their own additional elements. These are the last 3 calculations, old to new: - $13.2 - $14 - $14.4 On this term. There are 10 more plots to come, which will gradually draw a picture / trend of what is going on in the underlying/real silver market. I'll see, and adapt. If I will add silver myself, depends on further data of additional elements. Silvers price isn't decided on its own market alone, but usually spying upon what the hedging guys do, delivers a clue about the rest at the same time. It's what they think, and also actually acted upon. Nevertheless, sometimes price changes happen without reason in the data that is reported. Apparently, and unlike gold, the silver price mechanism receives some input that Thomson Reuters doesn't include in its published data. In 2012 this input was worth 3 price dollars.
Your not missing any buyng opportunity of course unless your a seller selling that notion. Silver will go down more and I would guess to $12-14 very soon.
Each time I think it might drop to 12 or 14 people start buying and the price rallies up. That will happen again, this time. Most think silver is cheap where it is, now.
I just lost $250 playing with CFDs. Makes physical look cheap. I'd still have a 10oz bar to play with if I'd bought physical even if the price went down. Makes silver look cheap at any price
Phrenzy I had 2 calls today from CMC markets convincing me to activate a CFD account with them (opened up a demo one to play around with initially). Have you had any profit and do you recommended it or do you think the chances of earning money are no different then going to your local TAB?
I'm new to playing with cfd and I can say I like the cmc platform. Really I lost that money dicking around not being particularly clever just figuring things out (I should learn to spell demo account). I actually made money when the non farm payroll data came out Friday so you can make money but what I would say is that you should feel strongly about went you are or aren't taking a certain position. If you know why your trade is going to work then it's probably worthwhile getting into it as long as you aren't figuring on making money by essentially randomly selecting a buy or sell position because there's a 50-50 chance that your commodity or currency will go higher or lower.
Yeah I am still researching it and as you said you have to feel strongly about taking the position. I guess the scariest thing for me is the prospect of losing more money than the initial deposit due to leverage, as you only need to pay 1-5% of money for the position you take. So if you for example put $1 000 you can take a position of $20 000 and if the stock falls 10% the following day at the open you lose $2 000. But as with everything there is a risk and you have to do your best to choose the best position to open I guess.
You always put a stop loss and almost always a take profit on any leveraged trade so that isn't that much of a problem. Plus, cmc will close out the position when it eats half of the money you have deposited with them so you'll never lose more than you have on account with them. I put $500 in there and figure it's an educational experience and I won't put more in there if I lose it without taking a course (out at least watching a few more youtube videos) on forex or commodity day trading. Not that I can afford to lose $500 but it's not the end of the world either. I really thought silver and gold were good for a few % downturn today. I was actually up a couple dollars at one point and thought it was the beginning of something but I checked back in this afternoon and my stop losses kicked in and wiped my positions. I think I'll do a lot more reading before I put money into the market again (unless some big news makes a position blindingly obvious). The stupid thing is I have something I'm good at that's making me a little money on the side but theres a definate attraction in day trading. Maybe I'm not using enough cocaine?
Phrenzy it is my understanding that you could lose more than your initial deposit or beyond your stop/loss in certain cases. I was warned by a couple of people from CMC and they both said that this was the biggest risk. I will try to give an example. Say you bought silver at $16 spot Friday night with $500 and lets say your stop/loss is $500 (or less, it doesn't matter), now on Monday it opens at $14 (highly unlikely but lets use it as an example) you will be at a loss of $6250 which is much more than your initial deposit, providing its based on leverage and I think its 1% of your deposit for commodities. Now I might wrong on the maths and method here but they definitely emphasised that you can lose much more than initially deposited into the account.
Part of my issue is old slabbed numismatics.. I'm always in the market for them, given their nature. I buy, regardless of what spot is doing. If I see something that I want at a fair price, and I have the funds for it at the time, I'll pick it up (or at least attempt to do so). This category, while pretty rewarding from a collector's POV, is still a pretty big drain on time, brain cells -- and the wallet. The creepy thing is, I'm no big spender.. Just a small-fry in this game, compared to other players with deeper pockets playing at much higher tiers, paying multiples of what I do for just one slabbed coin. Can't say I don't blame them, though. Anyway, what makes it worse is I also try to balance out that part of my stack/collection, with chunks of relatively lower-premium bars & coins. It's like an ever-escalating arms race that never ends..
Not sure how it works in the CFD arena, but at least in other financial markets, stop/loss, if hit, turn from limit orders into market orders. Anyway, be mindful of the leverage, folks.. Great on the upside, but a bear on the downside.
