This is defo a make or break me trade this one !

I think it can only be up from here in, I think there's to much going on in the world for prices to drop or stay flat.

So I've just gone ALL in on a spread-bet @ 200 per point on silver bought in at $19.28, (that's 200 up or down for every 1p)

Think by the end of this month I'm either gonna be wrong and be broke, or proved right and be minted !!!!

Time will tell wish me luck

 

How much did you lose on your last spread-bet? :/

 

What's your stop loss mark at?

 

I've no stop or limit, the only thing that will stop me is a margin call.

 

Last time I bought it dropped, bought again on the way down, but won on the way back up on the aggregate, ended up just under 3k up

 

Sounds like.....

 

And why would you do something like that?

 

Nothing ventured, nothing gained. Like I said might be a gut feeling it i think its gonna be on the way up within a few days #fingerscrossed

 

@ The Optimist:

what/who do you use for these transactions?
I use Plus500myself, but that`s only good for Daytrading, and overnight position holding is out of the question with the premium costs.

 

I use IG, I think they've got the best mobile platform, very simple to use

 

So how many pips is that?

And you want to hope your broker does that or you will not only lose all your money, but be in debt too.

I'd advise you close this trade. By every definition, you have bought into a falling market. This isn't even a 50/50 chance, I think the odds are against you.

Let me tell you on a risk adverse two stage entry into a trade like this. You start the trade with a spread trade. You long the silver, and at the same time you short gold, both of equal capital value. In bull movements, silver will outperform gold, and in bear movements, gold will show resistance over silver. So if the market drops from your entry level, you are only exposed to the silver and gold differences rather then just pure silver. When the market shows a clear reversal, close your gold short and change your stop loss to in the money, preferably more in the money then what the gold trade closed out at. Do you understand?

 

The Optimist ,you have got Cajones of Steel!!!!

 

I just joined you with 100 Oz.
nearly made up the spread costs in 15 mins, just hoping for 3%+ profit then I`m out.
Looking good so far too

 

Similar to holding phys then...
Good luck with your punt.

 

heh, just shorted and made off with 1.76.

What!?
that`s like more than 1 years worth of interest in most UK banks for 100 fiat

 

geez I hope you don't get hurt mate...

best of luck.

 

Wow, suddenly Traderville has popped up. Lots of posts from very likeminded members I must say.

I thought flipping was the go for making big bucks but I have missread that somewhere.

 

So by the end of this month, you will cash out whether you are up or down? (Assuming margin call doesnt occur)

 

No, I don't, but I wish I did. Can you please tell me where / how I can learn what you are talking about? I am very interested in learning, and then doing this, since it makes a lot of sense.

 

It's an on-line trading platform, not do through a broker.

Think I'll leave it running thanks, as I think we've bottomed out now (granted my still go down a little but defo in a bottom)

50/50 maybe but the way I look at it as it's in my favour, if it shoots up I win, if it does go down further I'll further buy on the way down and hold till it comes back, up which it will at some point (hopefully)

I don't buy futures in gold as the margins are to small