I need help again.

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Ruffian
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I need help again.

I explained to everyone that I'm not very smart.   But I have been working hard trying to understand this game and I'm failing.  It is just too much info and too overwhelming because I'm new to this awakening.  So I reckon, I have to act faster.

But if I understand what people are doing is playing these silver contracts and miners ( i have no idea how to tell a good one from a very bad one anyway)  to they can basically make money to buy physical.  Plus I do not understand these charts and why a target is important and the how strike prices and spot prices figure into the equation.

So if I has cash on hand and I'm lost ( not giving up ) is there anything wrong with just buying the physical and then I do not have to learn all this other stuff so quickly??

My concerns are I read here and some other place the same people own the same stuff.  I have no idea yet how this can be.  So I think, I should not store it with someone but actually have it with me

Is something wrong with me taking this approach?

So sorry for being annoying.

Edited by admin on 11/08/2014 - 06:09
metcoalfan
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IMO

There is nothing wrong with just holding physical and skipping the miner route altogether, especially if you are feeling rushed and not yet fully confident...you don't want to feel that way on the gut check days. I know several folks who have gone straight to physical and that is all they plan to do....they think I'm crazy for playing with the miners as the miners are a paper form of silver. They may be right (which is why I keep lots of extra food around.....I'll get their silver when they get hungry :)

Ruffian
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Thanks for answering

I just do not know enough on how to even begin.   So taking the shortcut is probably the safest route for me.  I think if I tried to so what you are doing, I would lose everything.

I also for some reason do not feel comfortable buying gold.  Maybe it is the price, it just doesn't feel right.  Maybe because I am too late to game.

Thanks again for you input.

This is the best site with the best people.

Kid Salami
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"So if I has cash on hand and

"So if I has cash on hand and I'm lost ( not giving up ) is there anything wrong with just buying the physical and then I do not have to learn all this other stuff so quickly??"

I've been reading about gold and silver markets for a year now and only hold physical at the moment - my attempts at trading have lost me money not made it! I did start at the worst possible time though, right when it crashed - if there is a lengthy run up in price this autumn, as seems reasonably likely, then there could well be some money to be made from trading by following Turd. But I can attest that it is much harder than it looks - and the miners is a whole different ball game that I haven't touched yet!  So to me no, there is not just nothing wrong with physical only at all, it is sensible at first, and move in small steps on the other stuff until you understand more, that's what I do and I'm sure plenty of others as well.

As for the gold price, you have to decide for yourself. You can do what James Turk always advocates and just buy a bit every month (maybe waiting for down days in price), so if there is a bigger dip in price later on you won't have bought all of it at the higher price, although of course if it goes up you'll end up paying more. My feeling is that there might well be one last correction in the gold price (of say 15%-20%) before it starts jumping higher, but who knows? Trying to guess this kind of stuff is impossible so i just went all in physical gold and silver over the last year and am happy with my position - it depends on the your own risk levels and circumstances.

eyeswideopen
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All Physical

No shame in being all physical. Trading this market should be left to the few. It's Vegas with nearly the same odds.

You must establish a solid physical position first  (if you have not yet done so). Should the price run from here, it won't take a large position for you to see a nice profit. You have time, and an ounce per week will benefit you more than purchasing nothing at all.  Only you can decide what your comfort zone is between ready cash for expenses, and physical purchases.  I, personally am 50/50 (AG/cash) with other saleable assets available to raise additional cash.

Some will judge you harshly for doing so, but, if you want to trade, allocate 25% of your physical to trade in and out. No shame in taking a little profit along the way. I practice what I preach, and have taken some nice profits, bought back in on the dips, and have only decreased my holdings minimally.

I must add, however, that the time for buying dips in the physical world will become more difficult.

Many here will tell you that at least one more substantial correction is in the cards. TPTB must make the attempt, or it's all over for them shortly.

Split you time on this site between the regular blog, and Palin's Corner. Watch and listen. These guys are the real deal. You've got a front row seat to years of experience, and (almost) real time trading.       A large trading account is the only thing that will sustain you (and sometimes not even then, as several Turdites will attest to).

Allocate your resources toward a mix of 90% (i like halves), and .999 (any). Find a local shop as your primary source to both buy and sell. Lower premiums and no shipping costs.

Eventually you'll want to research trading that AG for gold. Many will tell you that 30:1 might be a nice starting point.

This is but one opinion out of many you'll receive, however, I've been following since early last fall, and have tailored my approach from what I've learned here. We are regular folks who have a real opportunity to protect what we have and to benefit from our metals awakening.

A bit long winded, but just trying to pay it forward. This is the place to be. Peace.

Rico
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Just buy some cold, hard,

Just buy some cold, hard, physical silver (or gold, which is a much more compact store of value).  

This approach doesn't have to be grim and boring--look around, and see what you like.  I happen to think that brand new American Silver Eagles are some of the most beautiful and impressive coins of all time, but that's just me--figure out what you like, and buy that, it's your money.

There is no need to speculate, if you are simply trying to preserve the value of your savings.

thecoloredsky
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Hey Ruffian

I've only been buying physical gold and silver bullion for a year now, much less than most people here I think. So, consider me a rookie as well.

The first time I bought silver I was drunk. Literally. I drank myself into a stupor, fired up the laptop, logged into gainesville coins website and bought 15 ounces. The next day I woke up and thought "did I just buy silver last night?" Ha! Ha! I had to kick myself in the ass to pull the trigger. Once you buy your first few coins or bars, it'll come like second nature.

Also my recommendation is do not play in the stock market. I personally am in some mining companies but its only because I have to wait until my 5th year of employment to get my 401k fully vested. Once that happens, I'm cashing out and buying whatever physical gold and silver I can afford. But do not get into trading right now, stick to buying precious metals that you can hold in your hand! Good luck Ruffian!

Ruffian
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thx a lot eyes wide open

Long winded for me is good.

I do not understand what take a position means or what a target price is or should be.  So if you or someone could explain why that is important. That would be great.

Believe it or not, I'm actually understanding more than I thought I could but sometimes I go on overload.

I did buy a big monster box of physical and I have no idea if it was a good deal or not.  It is very intimidating trying to understand TF. 

Thanks so much

Ruffian

Ruffian
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that is exactly what i bought

silver eagles a monster box of them.   delay in delivery a pain in the behind to do over the phone.  i didn't open them up yet,  i reckon i should.

Is appearance important?  I mean I thought one kind was as good as the other.

thx

Ruffian
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your always great sky

lol @ being drunk. You're the first person I ever heard of that was drunk and thought of buying metals. I kinda like that hehe.

See my problem is this, if its only going up what is wrong with buying it at whatever price and just staying long. 

Gold I still don't feel to great about that.  It's just a gut thing.

thx again

eyeswideopen
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Physical position

Ruffian,

Establishing a physical position is what you're accomplishing currently.  That is  a core holding of "X" # ozs.

You can estimate your total cost of what you've already accumulated and divide it by # of ounces you currently hold.

This will give you your average cost (physical position).

From this point on you can do several things  (depending on available resources)...

1. Dollar cost averaging.

Meaning regular purchases, regardless of price in order to add to your stack.

2. Buying the dips

Many Turdites have been able to add ozs cost effectively due to a handful of significant corrections since the first of the year.

Adding AG as close to your core average cost is a nice goal, but is a near impossibility if you've been in the game for any time at all.  The Mayday Massacre (May 1st) gave me an opportunity to add and not increase my average cost too significantly (versus trying to add at 45,47,etc). I would not expect too many more significant corrections in the future, and most here will tell you that ANY price is the time to add to your stash.

3. Post a local ad on Craigslist

It's not always so easy, but I've picked up a fair amount this way. Near spot, and no fees or premiums.

I always agree to pay the daily spot price. It's fair, and too many others try to take advantage of the uneducated.

4. Buy boxes ($500.00) or rolls ($10.00) of halves from your bank.

I've purchased boxes on 3 different occasions, and added approx 20 ozs simply by sorting through them and finding both 40% and 90%. It's time consuming, but where else can you buy silver for $1.50 per oz? ( 3- 90% halves equal 1 oz ).

Admittedly, many banks have smartened up and now have machines to separate out the silver coins.

I was really lucky on my first purchase, but my  last attempt (2 boxes) netted me only 3-90% and 2-40%.

I cannot emphasize enough the idea of  finding a shop in your area to do business with. The time will come when you will want to sell, or trade for gold (AU). Convenient, safe, and low premiums.

Many here are expecting a significant correction before a fall runup. Don't bank on it though.

I've got dry powder just in case. YOU will NEVER feel like you've got enough silver.

If you're interested, I'll pass along a few other sites I frequent.

Best wishes

Ruffian
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oh wow eyes wide open

That was great, than you so much.

I understand what you mean.  Too often I can't get the point of articles because I'm stuck in few areas. so it gets lost on me.  If that makes any sense at all.

I really do thank you for taking your time to write all that so clearly.

Not in a million years would I have thought of your ways to buy more cheaply.

Yes, I would love the sites!!!!

Thank You Again....

Weeeee, I understood !!!!!!smileyyes

Jasper Puddlemaker
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Ruffian wrote: I explained to

Ruffian wrote:

I explained to everyone that I'm not very smart.   But I have been working hard trying to understand this game and I'm failing.  It is just too much info and too overwhelming because I'm new to this awakening.  So I reckon, I have to act faster...

So if I has cash on hand and I'm lost ( not giving up ) is there anything wrong with just buying the physical and then I do not have to learn all this other stuff so quickly??

First point:  You are smarter than you give yourself credit for being.

Second point:  You can't learn every facet of this business in a month or two.  Try "years."  Did you know that it takes 10 years of hard study/work to become an expert at anything?  If, as you said, you "have to act faster" then you run the risk of making a huge mistake that you might not be able to recover from.  Take small, methodical steps, and never stop learning.

Third Point:  Nothing wrong with physical (as others have said).  Most of us consider physical to be the foundation.

Last point:  You have mentioned physical, futures, and stocks.  Three different worlds.  The most important lesson I have learned over the years, and I truly mean this, is one has to match their investment plan/methods to their personality.  This was so evident in my reading of the Jack Schwager's  Market Wizards series.  The most successful investors and traders on the planet can be completely opposite and completely contradictory in their methods, yet each achieves unimaginable success.  Why?  Because each found the system/method that worked for them (matched their personality traits).   Not every person can or should trade futures or options.  Not every person can or should trade stocks.  Maybe one's nitch is in stocks.  Will it be majors, juniors, or explorers?  Will it be short term, long term, trend following, value investing, or ?  Fundamental analysis?  Technical analysis?  If technical, which indicators?   One's personality will determine what works and what doesn't.  How do you determine that?  Hard work, study, and trial and error.

Hope that wasn't overly long, or off subject too much.

eyeswideopen
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Ruffian... A few Links

Here are a few of the regular stops for many who frequent this site.

There are hundreds more. Just some bookmarks from my laptop. Many more on my PC.

This list will lead you to many more.  Peace.

http://jessescrossroadscafe.blogspot.com/

http://silverprice.org/

http://www.youtube.com/user/SGTbull07#g/u

http://www.youtube.com/user/BrotherJohnF#p/u

http://www.kingworldnews.com/kingworldnews/Broadcast/Broadcast.html

http://www.zerohedge.com/

http://www.netdania.com/Products/live-streaming-currency-exchange-rates/real-time-forex-charts/FinanceChart.aspx?m=c

CLICK "INSTRUMENTS" and choose silver. You can  learn quite  a bit here by just clicking around (gold, currency swaps, etc.)

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