BootyBandit
New Member
So far ive lost $4700 and gained nothing since my silver investment , it was bullish at above $40 with everybody saying its going to the moon and its a great investment, what a load of crap
I wish I never bought silver
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BootyBandit
New Member
Oh and all you kooks said the US dollar was a terrible investment, stay away you said, its going down down n down you said, turns out it was probably the best investment of 2011
Gold
BootyBandit
New Member
renovator said:
Yeah I said this before , i bought at $47 an oz then it dropped to $33 then everyone said load up the truck bla bla, i know im an idiot for listening to ppl here, so I bought more at $33, now a couple months later its $26, @#% this market.
Lets be honest here, majority of ppl on this forum collect silver as a hobby because they enjoy collecting bars and coins or whatever, with the hope that it sky rockets in the future, but even if it dosnt you probably wont care since you'll just say, oh its down another excuse to back up the truck. Silver is suppose to be shining in economic times like this but its obviously being controlled so it will never reach its true value
I think this thread should be made a sticky - it shows what happens in ALL investments. They go up and they go down - PMs, R/E, Shares - everything. Even businesses. It has nothing to do with "shaking out" weak hands. Quite often the "weak hands" are the wise that are selling when it hits stop losses/profits so money is available for the subsequent bottoming.
My sympathies BootyBandit - it's a hard lesson.
malachii
My sympathies BootyBandit - it's a hard lesson.
malachii
BootyBandit
New Member
might throw all my silver off a bridge
I was buying Silver before the economic crash and I was sure it was going to $30, I bought all the way up to $21 only to see it crash down to $9 and my investment almost halved (some relief due to exchange rate) I then took a good look at it and saw Silver miners then were struggling to sell the metal above mining cost so I piled in all I could and was rewarded with a run all the way to the high 40's. Now we are down to $26 and I see the same thing we had at $9, the miners are struggling to mine it at a profit at this point. I think it could travel sideways for some time now, anything up to 2 years but it's gonna go for another run and it's gonna be a great one. I'm a buyer at this price just based on the mining costs.
Lets just say in 5 years time Silver was $300 an ounce, would it really matter if you bought it at $40, $36 or $26, not really so long as you held it for the long haul. Silver will be going up but if holding it during a long sideways consolidation period is going to stress you then maybe gambling on the rigged Forex is more your cup of tea. I mean really what else is there to invest in?
Lets just say in 5 years time Silver was $300 an ounce, would it really matter if you bought it at $40, $36 or $26, not really so long as you held it for the long haul. Silver will be going up but if holding it during a long sideways consolidation period is going to stress you then maybe gambling on the rigged Forex is more your cup of tea. I mean really what else is there to invest in?
BootyBandit said:
But that exhilarating ride from $47 to $49 must of felt like *pure heaven*, no? You're on the rocket-ship ride now boy, and there's no turning back! Yee hah! There's no fever like gold fever, and silver's "gold on steroids"! But like any good high, you've got to come down afterwards... sure its unpleasant, but its much healthier for you. You had increased endorphin production for a while, that's all. :|
Unfortunately, its called luck, and individuals being blinded by their greed.
There is only so much wealth in the world, if your prepared to take the risks to gain it, you also must be prepared to lose it, as someone has to lose for you to gain.
The biggest hurdle is education, if you are too lazy to research and educate yourself, you aren't going anywhere. Unfortunately, half the world have no actual idea what the value of precious metals are. I meet people on a daily basis who have no idea how much it has gone down this year, most still think gold is around the $2000 mark. Then there are the proponents that insist its going to the moon......... Ive been hearing that for 4 years now.
An old testament biblical saying"tell people what they want to hear, they will believe you and love you for it"
At the end of the day, all I can say is you must take responsibility for your own actions, as no one can make you believe something you never would have anyhow.
There is only so much wealth in the world, if your prepared to take the risks to gain it, you also must be prepared to lose it, as someone has to lose for you to gain.
The biggest hurdle is education, if you are too lazy to research and educate yourself, you aren't going anywhere. Unfortunately, half the world have no actual idea what the value of precious metals are. I meet people on a daily basis who have no idea how much it has gone down this year, most still think gold is around the $2000 mark. Then there are the proponents that insist its going to the moon......... Ive been hearing that for 4 years now.
An old testament biblical saying"tell people what they want to hear, they will believe you and love you for it"
At the end of the day, all I can say is you must take responsibility for your own actions, as no one can make you believe something you never would have anyhow.