Don"t Make the Mistake of Not Having a Sound Plan for Liquidating Your Silver at a Profit
I can't know of course exactly when liquidation time will be, but I remember when I lost my shorts in silver, April of 2011.
Based on that experience, I now know when I'll sell and take my profits.
I've noticed 5 signs to watch for: 1.
When the price is going up unbelievably fast, get prepared to sell.
In the case of silver, it rose several dollars an ounce every day for a couple of weeks.
I was ecstatic and ready to quit my job, because it was making me so much money.
I soon learned what rises that quickly, will fall just as quickly.
The top is impossible to see, so watch closely and sell before the plunge.
Be satisfied with scoring big and not worry about making maximum profit.
YOU WILL BE A WINNER THEN.
2.
When you start reading newspaper headlines about people making fortunes in silver, this is the time to execute your plan to make your fortune in silver.
3.
When the nightly news starts recommending buying silver as a best investment, because of its skyrocketing price.
Watch eagerly for your chance to give the public what they want.
You should have quit buying when the prices started their rapid ascent.
4.
When your neighbors and friends start telling you how they are going to make a killing in silver, you can offer to sell them some of yours.
This is assuming of course you own physical silver.
5.
When the demand is outpacing the supply, become part of the supply chain.
Until then, continue to buy what you can afford while the price is slowly increasing.
Be glad to be getting it at the "low price", whatever that may be.
I've heard some intelligent financial investors say they have no plan to liquidate their precious metal assets.
They will sell stocks when the time is right, but not gold or silver.
This where I think they missed the boat.
In my plan, you sell when the time is right, at the market high and take your profits.
Then when the price plummets again, you have even more money to buy with than you would have by just hanging on to it.
This tactic can also be used for silver ETF's such as SLV.
Knowing when to sell is easier with ETF's, because you just place a stop loss right behind the current price and the broker will sell as soon as it turns.
It's easier and more convenient than physical silver.
If owning physical silver isn't for you, the ETF can be a great alternative.
Based on that experience, I now know when I'll sell and take my profits.
I've noticed 5 signs to watch for: 1.
When the price is going up unbelievably fast, get prepared to sell.
In the case of silver, it rose several dollars an ounce every day for a couple of weeks.
I was ecstatic and ready to quit my job, because it was making me so much money.
I soon learned what rises that quickly, will fall just as quickly.
The top is impossible to see, so watch closely and sell before the plunge.
Be satisfied with scoring big and not worry about making maximum profit.
YOU WILL BE A WINNER THEN.
2.
When you start reading newspaper headlines about people making fortunes in silver, this is the time to execute your plan to make your fortune in silver.
3.
When the nightly news starts recommending buying silver as a best investment, because of its skyrocketing price.
Watch eagerly for your chance to give the public what they want.
You should have quit buying when the prices started their rapid ascent.
4.
When your neighbors and friends start telling you how they are going to make a killing in silver, you can offer to sell them some of yours.
This is assuming of course you own physical silver.
5.
When the demand is outpacing the supply, become part of the supply chain.
Until then, continue to buy what you can afford while the price is slowly increasing.
Be glad to be getting it at the "low price", whatever that may be.
I've heard some intelligent financial investors say they have no plan to liquidate their precious metal assets.
They will sell stocks when the time is right, but not gold or silver.
This where I think they missed the boat.
In my plan, you sell when the time is right, at the market high and take your profits.
Then when the price plummets again, you have even more money to buy with than you would have by just hanging on to it.
This tactic can also be used for silver ETF's such as SLV.
Knowing when to sell is easier with ETF's, because you just place a stop loss right behind the current price and the broker will sell as soon as it turns.
It's easier and more convenient than physical silver.
If owning physical silver isn't for you, the ETF can be a great alternative.