Should I do something crazy?

MrBear

I took a bath on AGQ the last couple of days (bought at 343, sold at 264), but I'm wondering if I should do something rather aggressive with my physical metal. I have a bunch of gold bullion and a bunch of silver. Since AG has been collapsing while AU has remained reasonably steady, maybe this is an opportunity to sell the gold and double-down on silver.

Or am I just being silly?

Julio

Hmmmm.. Silly IMHO. Take care. jws

JCMhouston

If any of us new the answer we would be playing golf somewhere like Bermuda this time of year and would not have time to be on the boards. But who can resit giving unpaid advice (and it's worth every penny), I sold all my silver a couple of months ago, still been buying high grade gold bullion type world coins. If it gets below 40 I will take another strong look at loading up on some silver.

Keep in mind I am not a precious metals bug, I usually only keep 5-8% or so of my investment money in PM's.

gsa1fan

No way sell your gold for paper`= that's

JMHO

RedTiger

Sounds like typical revenge trade after a big loss, which is a dangerous road. The odds of success on revenge trades tend to be small. The plan needs to be in place before entering the trade. If the plan was indeed to double down, that is one thing, but to react with emotion after a financial beating, tends to lead to more losses. If you already sold the AGQ probably best to take a break and clear your head. Traders can get punch drunk after taking a big hit.

I don't know if the AGQ is an isolated trade or part of a streak of losers. If a trader is experiencing a cold streak, the worst thing to do is to get more aggressive to try and get even. Those that tend to survive to the next cycle, learn to trade smaller until they get back in rhythm with the markets.

For all traders, journaling each trade for swing traders, or summarizing each day of trading if a day trader, and the range of emotions experienced, can be a useful and powerful tool to improve.

jmski52

Red Tiger makes some excellent points. I'd pay attention to what he said. Good luck.

CaptHenway

Take a cold shower and go to bed. Never throw good money after bad money.
MOO
TD

storm888

Should I do something crazy?

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Heck NO!

akuracy503

You only live once and success includes taking chances.
Do what you feel is best as long as you aren't trying to chase your lost money in an emotional trade.

I'm in the same boat, lost a ton of profits by getting into AGQ, then I made adjustments and made some back.

Good Luck



<< <i>Should I do something crazy?

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Heck NO! >>

MrBear

Well, there are logistical issues as well. Work is such this week that I can't get to the SDB at the bank, much less the coin store.

My "trading" account is up for the year, overall, although I lost about 10% over the last week (most of that was AGQ on Mon/Tues) About half is in cash right now, from AGQ and I dumped a stock (for a big profit) that has dropped about 10% over the last week.

Until I have a realistic ability to liquidate, it's all academic anyway. Although, strangely, I'm not particularly upset about the big loss over the last few days.