Trading

Discussion in 'Silver' started by rainy day, May 12, 2022.

  1. rainy day

    rainy day Member

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    This has probably been covered a hundred times before. But with the price down I was trying to work out how to buy some silver exposure to sell again in a few months or so, with minimum trade costs. How do we do that in Australia, best?
    Is it unallocated at perth mint, or etf, or etpmag or plus 500?
    Can i just buy exposure to the spot price for a broker fee to sell later? Where would one do that?

    tia.
     
  2. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    :eek:

    o_O
    Bound to end in tears .
     
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  3. rainy day

    rainy day Member

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    You saying because none of them are physical metal in one's possession?
    Is that the only way to go in this day and age do you think?
    I was just wanting to dable a small amount in trading.
     
  4. rainy day

    rainy day Member

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    You saying because none of them are physical metal in one's possession?
    Is that the only way to go in this day and age do you think?
    I was just wanting to dable a small amount in trading.
     
  5. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    For me YES
    It's your $
    Do as you wish .
    I like to keep things simple .
     
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  6. rainy day

    rainy day Member

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    yeah, i guess that makes sense. and even if it was safe to have your money in anothers hand or in paper it is hard to pick the peaks and troughs. I thought silver would be over 35usd at the moment with what is happeneing in the world. And it is a rigged market.
     
  7. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    If you think it's rigged then why play in the market?
     
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  8. spannermonkey

    spannermonkey Well-Known Member Silver Stacker

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    Speculatars love to think they can beat the system .
     
  9. rainy day

    rainy day Member

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    i was watching some show about kevin oleary from shark tank and he has this auto trade thing where it buys into the downs after 5% fall and sells into the ups, i thought i could do that with silver somehow?
     
  10. GoldenEye

    GoldenEye Well-Known Member Silver Stacker

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    You could buy stock market shares in a silver mine. Or maybe get Perth Mint Unallocated, which has very low fees if spend $50,000.
     
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  11. rainy day

    rainy day Member

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    yeah, thanks for that. I guess the unallocated you lose a few percent each way?
    Not sure how to set up auto trade?
     
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  12. dozerz

    dozerz Well-Known Member Silver Stacker

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    this doesnt read as a well thought out investment strategy.
     
  13. SilverTouch

    SilverTouch Member Silver Stacker

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    Open an account with Saxo and buy the ETF "SLV", when you get more experienced and wish to apply leverage I've used FXCM for years
     
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  14. STKR

    STKR Well-Known Member Silver Stacker

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    ABC Bullion have a good pool-allocated option. They have a spread either side of the trade and I think you'll need a favourable 5% price movement to break even. I was lucky to buy at the very bottom of the march 2020 lows, so the buy/sell spread was quickly gobbled up. You have the option to convert to physical later, but you'll have to pay minting fees equivalent to the spread between spot and the price of the bar you choose to mint.

    It may work for you depending on what your needs/outlook is for silver over the time you intend to be exposed. Account is easy to create and selling can be locked in at a click of a button.
     
  15. Shaddam IV

    Shaddam IV Well-Known Member Silver Stacker

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    Right now nothing makes sense, silver included. Trying to buy and sell silver or gold in the hope of a short term price gain is not a good idea at all, the future of metals is completely unclear especially in the short-medium term.
     
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  16. sammysilver

    sammysilver Well-Known Member Silver Stacker

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    Just keep buying the dip.
     
  17. Colin Sheehan

    Colin Sheehan New Member

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    Another way in if you are undecided is to buy unallocated with a reputable dealer (I use and recommend Bullion Now and Swan Bullion) and then at some later stage, switch to physical metals and all you have to pay is the current premium. Sort of like a savings account. Buy as you can afford and when it mounts up to a suitable figure, buy what suits you and then you have solid currency safe in your hands. Both of these companies offer Allocated storage (of your physical metals purchases) for three months free to enable you to accrue a decent amount over that time without large freight/insurance bills.
     
  18. SteelHand

    SteelHand Well-Known Member Silver Stacker

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    I didn't know Swan Bullion did unallocated
     
  19. Colin Sheehan

    Colin Sheehan New Member

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    Good Point. I had not noticed. My point there was the ALLOCATED storage facility for three months free is very useful. Not a lot of dealers do this.
     
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  20. DuncDad

    DuncDad Member

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    Some interesting thoughts above, from a number of aspects.
    Having traded Forex before, something like a FXCM or +500 account would be simple.
    Depending on your ROI expectations as to whether or not this will be the best option for you
     

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