Lessons In Stacking Pm's For Me And The Newbies.

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Author	Replies: 7 / Views: 1,727
samsnate Pillar of the Community Canada 1723 Posts	Posted 05/23/2013 9:32 pm Being a stacker for nearly 2 years now, although watching and being part of this roller coaster has been hard to watch, has been very rewarding. I got into the game/hobby in the mid 30s to watch it go all the way to 50 to watch it drop to 26, back up to 37 and back to 22 where we are today. One can study all the charts they want, study patterns, read reports and listen to peoples comments like those on this forum and other forums, but being part of it is truly the best lessons. It has taught me to pick my buying times better, that there is always time and to not impulse buy on "fear" of missing the boat. I have been lucky that through all my buying and selling when I wanted to or needed to, that I have managed to do ok. When selling, I have managed to sell for a profit to lower my DCA or add ounces and that profit has made up the difference when I've needed to sell at a loss. There is no advice that I can give to any new stacker out there that would teach them the way I have been taught. I just hope that a new stacker will read this and realize that... 1) There are always opportunities to buy and to be patient but to always be buying. 2) Keep a little nest egg nearby so you don't need to sell. That way you only need to sell when you want too. 3) Only buy as much as you can afford. When you feel the time is right and you have the money, buy as much as you are comfortable with. That means only spend what you can afford to lose. 4) This is a long term game. If you think you're going to get in and get out with a huge profit...unless you have $50,000 to drop out of the gate...you're into the wrong thing. Silver is a game of quantity, quality and patience. These are just a few things I can offer to those seeking a bit of guidance. I know for me, I look forward to the next 2 years of playing with silver for both entertainment, investment and as a hobby. I will pick my larger purchase times a bit better and learn from the hard lessons that I have been taught and taught to others. I appreciate all the advice by other more seasoned posters here on CCF that helped guide me through my first purchases. Without you guys and gals things could have turned out a lot different for me. I'm grateful to be part of this forum, PM section and friends with many of you... even if it is only through cyberspace. CHEERS to you and happy stacking! Edited by samsnate 05/24/2013 02:36 am Report this Post to the Staff

basebal21 Bedrock of the Community 13014 Posts	Posted 05/23/2013 9:41 pm Well said samsnate. A lot of that advice translates to investing in general as well. Resisting buying out of fear of missing out is probably the hardest lesson everyone needs to learn when they start out and not buying more than you can afford to lose is really the best advice that can be given. Report this Post to the Staff
samsnate Pillar of the Community Canada 1723 Posts	Posted 05/23/2013 11:04 pm Thanks basebal21. Was just thinking and thought I would put a few words down. I really hope someone will take the advice and be hooked on silver the way many of us are. Report this Post to the Staff
Fat Freddy Pillar of the Community United States 1200 Posts	Posted 05/23/2013 11:09 pm Well-said and agreed. Been in the game for around the same time myself and my experiences are very similar, with one exception. I don't sell. Echoing the thoughts above, I'd also say that for me: ---The urge to make impulse purchases and the fear of "missing the boat" never go away. Controlling those demons is critically important. ---Buying only what I can afford to buy and keeping my finances in order so I never need to sell to meet regular expenses are also critically important. Keeping the demons in their cages (most of the time, anyhow) and the horse in front of the cart are the two biggest ongoing challenges for me. Notions of dancing sugar-plums and large silver buying/selling profits are for kids on Xmas Eve. Keep your head on straight and as said above, either stay in for the long run or else do yourself the favor of getting out of silver before you hurt yourself. Report this Post to the Staff
bekiz Pillar of the Community Japan 666 Posts	Posted 05/24/2013 01:38 am Quote: Silver is a game of quantity and patience. silver itself - YES silver coins, well, quality matters as well. Comparing market in Japan I'd say that my Kookaburra coins feel very good, spot dropped, I can sell those on local auction higher than when the spot was at $35 So, if you are in silver and in coins, then pay attention to quality as well. The things I bought when silver was $40 worth more today with the spot twice lower. Report this Post to the Staff
samsnate Pillar of the Community Canada 1723 Posts	Posted 05/24/2013 02:35 am Quote: So, if you are in silver and in coins, then pay attention to quality as well Ahhhh yes, good point. I'm going to edit the OP. Quality is also very good point. Many a times my saving grace when having to sell especially during dips. When spot drops $5 or so, you generally can still easily make your money back plus some, allowing you to buy back in at lower prices. If it weren't for these quality silver coins and bars it would have been difficult to buy and sell and buy again. Thanks Bekiz! Report this Post to the Staff
Silverhawk74 Pillar of the Community United States 3670 Posts	Posted 05/24/2013 07:09 am Real strong points and I think myself and many others have learned all that the HARD way along the way through trial and error the only way to learn. Can't learn to swim on the side of the pool-eventually you gotta get wet and jump in if ya wanna play the game .... Report this Post to the Staff
JSH Valued Member United States 410 Posts	Posted 05/24/2013 09:04 am Quote: Only buy as much as you can afford. When you feel the time is right and you have the money, buy as much as you are comfortable with. That means only spend what you can afford to lose. Good points and I would say this one is the most important. To me, "only spend what you can afford to lose" means don't start investing in silver until you have a solid financial base. * Emergency fund with 6 months of expenses minimum * All debt paid off except for house * Maxing out company match for a 401K or an IRA if you don't have a 401K available (preferable both) Commodity trading isn't for the faint of heart and is a good way to lose one's shirt. Report this Post to the Staff
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