What Happens To Gold And Silver Next? Look Out Below?

Dont you have to pay income taxes and such on any gains you make on an investment? I mean if you only are making 5 percent profit and you have to pay trading fees income tax etc etc , wouldn't you need to make more then 5 percent to make it worth while?

I don't know just wondering, there must be some kind of min percentage you need to sell at or your always going to be underwater as they say if you never reach that mark.

I think taxes for capital gains are way too much in this country for less than one year, I feel they should be only 1-2% max.

That said, you got your numbers all wrong Northern. It works like this- doesn't matter if you got 3% back, 5%, 1% back, so long as its positive, one just pays a capital gains tax. If you have a big book you are running, a large account, doing even 5% all the time and the cash register will be ringing.

So as long as you have positive returns, you are always head. On the flip side, anything that rolls over on me, like stops, which are normal, I skip wash sales (my tax structure is different due to the volume and other things) so its a straight write off)

but even with Uncle Sam, I would say personally looking over the years, yea trading, investing it totally worth it.

@MontanaCMR

Livermore also said to buy right and sit tight. You must have bought recently that you are sweating these moves, at least thats the impression you are giving off. I can assure you no one that bought 6 months ago is sweating anything. When I hear people start stressing or worrying about their money in the market, even fellow traders, it is because they bought at the wrong spot and are clueless as to what is transpiring in front of them.

You also said you were a dip buyer, now the dips are getting deeper. Once again I said, if you were a dip buyer, you needed to know levels. I also warned that in an uptrend, there will be counter trend moves, the trend will change on its behavior. Sometimes a big major uptrend goes from a steady grind up to a dormant drip drip drip no bidders to be found and then it picks up where it last left off. Thats why dip buying needs to be done with appropiate dip levels.Do you know what the levels are? Do you know what you are trying to harvest from the market?

I think the problem you are struggling with is not yet knowing, along with your emotions, what you want to extract from the market. You want to dip buy. You worry about whether there is still an uptrend. You almost seem skittish, that you cant hold. Trust me, I have see over the years many people exhibt the same pattern as you are when it comes to having money in the market.

There is more than one way to skin a cat in the market Montana, nothing wrong in that,but you cannot vacillate, bounce around or be wishy washy. You have to make a plan and stick to it otherwise you will be forever tossed around by the market.

I tell you these things not to put you down but to make you realize that IF you are going to win this game, you have really focus on what your goals are, what is your time frame. You cannot be a trend follower and at the same time want to cap your gains early. Period. If you want to cap your gains early, thats fine, nothing wrong in that. But realize that you will be picking up nickels and dimes in a sense whereas the big money is in the sitting and waiting.

Here are the charts for the month so far.





Still a big gap up under silver that could get slippery.

@montanaCMR

the reason I havent talked about selling is because as TREND FOLLOWER I am not worried nor interested in the small minor moves lower.

There have been ZERO clues saying "the uptrend is done". Therefore, I have nothing at all to say trend is changing. Thats the reason, and I would have thought it would have thought by know that would have dawned on you. Nothing in the price action is saying "time to take profits". Nada at all.

These minor dips are for those with shorter time frames, swing traders and intra-day traders. They are the ones who will want to either sell out or sell short... but not a long term trend follower. You do not make 100, 200, 300% and more return on your money by selling early.

IF you want to sell, go ahead and do what you need to do. But there is nothing YET that is saying sell, nothing saying this trend is done.

I just hope you dont screw yourself up by jumping to sell at every little dip. I say that because I see this sort of investor/trader knee jerk reaction to jump and take profits early. In fact, if you cant handle this move as of late down, I hate to see what happens when the trend corrects lol. And yes, as silver and gold start to get sluggish, there are many many areas of the market that are starting to wake up and getting ready to rip higher.

I hope you remember what Livermore said about selling early....

Again, long term trend, there is no reason to sell. Absolutely none. There is no change in trend and zero reason to sell as a trend follower. There are no signs saying to sell anything.

If you are saying because we broke the range lower today, then you are not a trend follower and your definition of selling is completely different from me, so therefore you shouldnt be asking me WHY I havent said to sell my TIME FRAME is completely DIFFERENT from yours.

You clearly want to be a shorter term investor/trader, which is fine but dont waste your time telling me or asking me why I didnt say to sell silver or gold as I could care less about what happens in a shorter time frame and will not act impulsively because something starts to fall. I base my decisions on my longer time frame, I bought in right, I have plenty of cushion and I have expected pull backs in this trend, none of which scare me nor discourage me from allowing gains to be given back as the trend runs its course.

I hope you got that point down pat.

Those graphs are done in Python and SQL (well SQLite). From what I understand PHP, while still used fairly widely, isn't worth learning anymore unless you need to for a job.

Python is super easy to learn. If anyone was interested, send me a message and I can give you some youtube tutorials that will get you running in no time. One week and you can do the graphs no problem. Probably within 6 hours or so if someone guided you. Simple as can be. That is where Python shines.

Agree, highly recommended for anyone to learn the language. Can't imagine any career / field that wouldn't benefit from knowing Python.

As for me, I am closer to retired than school at this point.

Not that I plan on actually retiring ever, just never working for anyone else at some point.

I for one have been sitting tight. Even though I came to the party late, still have a nice cushion before in the red for price of miners to move lower (except for Integra,it's in the red.) The dip hasn't made me nervous as I know it'll come back. Bought more silver yesterday while the price was down. Glad I did as both Gold and Silver are up in the Asian Market tonight which is a first since the drop started, so maybe we're going to see some support once Wall Street opens this morning.
Like you Montana, this is my first trading experience, and trying to incorporate what I've learned. I sold my SILJ when it went down, but I was nervous the entire time I was out. But I went against what Livermore said and put my money back into other stock so it would 'grow'. Felt like I had to be 'IN' the market somehow. In hind sight, should have just sat on my hands, or at least sold the SILJ and bought the miners I have now, Pan American Silver and Sibanye Gold. Satisfied now to just let it alone and watch, and add to it when I can. As for the physical, it is in the red. But I didn't buy it to make money like the miners. It's part of my WSHF preparation. And no, I did not buy right. I am late to the party but darn glad to be here .