If The US dont default and the economy starts to get alot better, does that mean silver will go down? I want the economy better however i bought silver pretty much at its peak of $41US n thats when i started so i obviously want to see silver prices on the rise, if it goes down even $2 I would have lost hundreds of dollars and ive only just started
Losses are only losses when realised - the price of silver is volatile. Silver's recent peak was something like $49.75 USD - I'll be blunt, if you are not comfortable with a $2.50 USD drop in the price of silver, it's the wrong asset class for you.
no i can handle $2 i was just saying even a $2 drop will lose me hundreds, however i would be uncomfortable in a $10 drop as i literally emptied my bank account into silver, but hey im in it for the long haul anyway, no plans on selling this year
Don't worry - I got in at the start of April at around $42 - it jumped to $49 and I got all excited - went on holidays and came back to see it fall to $33. Not for the faint hearted.
This is exactly the point that trips people up. A lot of people think in terms of bank accounts - they watch the value of their stock/housing/PM's whatever compulsively, gloating at the end of the day over increases and crying over decreases in value. But until you sell, nothing is gained or lost. Accountants call it "Profit or Loss on Sale of Asset". Notice the "sale of asset" bit. I could sell any asset for one peppercorn - if thats what I was willing to accept, regardless of what "the market" thinks I should sell for.No sale - no profit and no loss! Watching the price variations is only good for one thing - deciding when to buy more. Well at least for PM's anyway.
If you're thinking Long haul (20yrs) I wouldn't be concerning myself with the daily highs and lows (peaks and valleys) of price movement for silver every second of the day. You're putting yourself in the wrong mindset to start with. look at this link of price of our good friend Silver: http://finviz.com/futures_charts.ashx?t=SI&p=m5 and click on the different timeframe links starting at five minutes working through to weekly. You'll see green (buying) and red (selling) candles which is price action. In a five minute period there could be what looks like a big sell off (series of red candles) but on the hourly, daily chart it can paint a green candle thus over all buying power. I only started collecting actual PMs two months ago to diversify and started buying at 37 and if price goes below 30 that's giving me more bang for my buck, and more upside potential 'if' price then continues to rise (which we think it will hence why we're collecting PMs, right??) Hope this helps and hasn't confused. That's my 2oz's worth If price goes to 20 and you want to sell, msg me, I'll happily buy your stack : )
