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Glorfindel

Sold all my gold, got stung

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13 hours ago, dicker said:

@pete I think you are bang on.  I honestly think that you have to have the mentality that you don’t have to seek or buy at any specific time to invest properly.

Forget the Hurd and just do the opposite. You can do this quite technically / mechanically or you can take a more informed / gut feel view.

I don't think its a case of just doing the opposite of what most people are doing. After all, it is the belief and the behaviour of the masses that drive markets in big trends, not those of contrarian. You have to run with the masses during the main phase of the market and even towards the start of the end, but you want to get out and eventually do the opposite of the masses towards the middle of the end and definitely towards the end of the end :)

Contrarian are usually right in their belief, but wrong in their timing, and they usually are far too early in taking up their opposing positions.

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2 hours ago, vand said:

I don't think its a case of just doing the opposite of what most people are doing. After all, it is the belief and the behaviour of the masses that drive markets in big trends, not those of contrarian. You have to run with the masses during the main phase of the market and even towards the start of the end, but you want to get out and eventually do the opposite of the masses towards the middle of the end and definitely towards the end of the end :)

Contrarian are usually right in their belief, but wrong in their timing, and they usually are far too early in taking up their opposing positions.

As you say, the big problem is timing. Unless you're dealing with a long trending move, by the time the masses get on board, the larger part of the profit is already in the price, most people miss it. In most cases, going against the herd is the correct play.

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I have been reading this thread it's been very enjoyable.  As far as gold is concerned , it is my view one should not buy gold with a view to hold for longer than 10 years, if an opportunity comes your way to sell a small part of a holding because of a price spike and one was confident that the price was going to dip again then ok sell knowing you are going to buy back.  Remember you may lose if you choose to sell on a price spike as macro events happen too and the price may carry on moving up.

 

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Maybe goes without saying but having some reserve cash acting as a barrier between unexpected bills and your investments is very important. If you don't have any emergency fund then your assets will end up being sold at some point before intended, regardless of what the price is doing. 

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3 hours ago, KDave said:

Maybe goes without saying but having some reserve cash acting as a barrier between unexpected bills and your investments is very important. If you don't have any emergency fund then your assets will end up being sold at some point before intended, regardless of what the price is doing. 

 Very good advice.  I would also add clear your debts first too.  

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On 09/12/2018 at 00:42, MoralHazard said:

I sold £7600 worth of my stock investment portfolio last Friday that I bought two weeks ago. I got a loss off £600 and I am pretty annoyd to myself.

The stocks portfolio was supposed to be a long term investment. However I got spooked about the developments in the trade war between China and US. Now that the CFO of Huawei has been arrested the stocks can only go down. I have now decided that I will hide my money under the mattress. I can re enter the stock market but only after I have seen it go down at least 5%

All you had do insure your portfolio and sell an OTM call to cover the cost of securing your portfolio and with the leftovers from call premiums you can use it to buy some gold.  

I collected 17K USD in call premiums 2 weeks ago and bought a 5 ounce PAMP gold bad. Itching to buy the 10 ounce one now that I am  addicted to PAMP bars.

no need to panic if you hedge your portfolio.

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First post. Just joined the forum. Have been a regular purchaser from multiple UK dealers (some good some bad) of gold, silver and rhodium for many years (and a periodic seller) but somehow didn't find this forum for all this time! Had a brief pause in buying but Brexit has really inspired me to start up my stacking again. I am of the opinion that 2019 will be a great year for gold. My reasoning for this is: Crypto bubble has popped, house prices in UK and US are floundering, people are panicking about holding sterling / euro and stocks are seeing much greater volatility. All are good for gold. I wouldn't be selling now... In fact I'm buying. Anyway, just thought I'd introduce myself.

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3 hours ago, black959 said:

First post. Just joined the forum. Have been a regular purchaser from multiple UK dealers (some good some bad) of gold, silver and rhodium for many years (and a periodic seller) but somehow didn't find this forum for all this time! Had a brief pause in buying but Brexit has really inspired me to start up my stacking again. I am of the opinion that 2019 will be a great year for gold. My reasoning for this is: Crypto bubble has popped, house prices in UK and US are floundering, people are panicking about holding sterling / euro and stocks are seeing much greater volatility. All are good for gold. I wouldn't be selling now... In fact I'm buying. Anyway, just thought I'd introduce myself.

welcome to the forum dude - aren't people worried about the dollar as well 🙂 

Keep on stacking! 

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5 hours ago, Bdean316 said:

welcome to the forum dude - aren't people worried about the dollar as well 🙂 

Keep on stacking! 

The dollar is scaring the pants off me atm

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On 01/12/2018 at 02:57, MoralHazard said:

You would have received easily £1250 per piece for the griffins here. Similarly £1200 for the lion. For the dragon £1100. Now you sold those coins for melt value to a dealer. Great job, you got drilled twice instead of turning for profits.

Atkinsson will resell the griffins for £1350 and £1300 for the lion a piece. Easy money for them

Big time.

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7 minutes ago, Tape said:

I find it puzzling that the OP sold their gold so fast as if it was going to disappear or explode, personally I find gold as the best investment IMO, it will always have a value to it.

i think the OP was quite inexperienced and was panicked by media hysteria relating to Brexit. i am sure he is regretting his decision to sell, to sell to a dealer and to post what he had done on the silver forum.

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On 18/02/2019 at 04:17, RoughDog said:

Maybe not.  Maybe he still thinks gold will drop soon and is happy with his decision.

If I thought something was near the top I wouldn't mind selling before it reached the top.

 

I recall when gold topped $1700/oz and people thought it would shoot to the moon...,but I also recall the panic selling when gold rose to $1000/oz...people thought that was the top...as I collect for my kids it doesn't bother me much as small gains and losses just mean I delay buying and selling...I was screaming at people to buy palladium when it was $600/oz but the biggest reply I got what "what is palladium?".

Edited by DarkChameleon

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7 minutes ago, sixgun said:

The Palladium is a theatre in the West End of London.

Where they used to have Sunday nights..lol..I'm an ex pat myself...but it's most commonly used for cat converters and to make gold into bright white gold....some people have 14k gold items that are worth more then 24k as they contain palladium which is more then the gold...they never saw that one coming..lol.

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2 minutes ago, DarkChameleon said:

Where they used to have Sunday nights..lol..I'm an ex pat myself...but it's most commonly used for cat converters and to make gold into bright white gold....some people have 14k gold items that are worth more then 24k as they contain palladium which is more then the gold...they never saw that one coming..lol.

sundaypalladium_000.jpg.103f48bf8ac7435e3c4424bc28fd159a.jpg

Here are some of the cats you mention.

cats4.jpg.7ddd7c7b8d83ab69b98f88c181adb34b.jpg

Edited by sixgun

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