Thread: Trading gold

Ive been buying gold for the last couple of years through Bullion Vault, but not selling or trading.

For a bit of fun Im having a competition with a pal over the next twelve months. We've each opened accounts with 15k sterling with bullion vault, the one with the most cash + gold value in a year wins a decent meal.

Any other TDers trading gold online? If so thought a thread about it might be useful.

Oh Socal , where art thou ?

late to the party, there are already other silly bets opened on Gold

https://teakdoor.com/the-teakdoor-lou...avings-50.html

I have almost zero investment experience, except in property where i have 90 % of my capital in residential and commercial.

The gold earned circa 5% last year, better than I get on deposit for cash. I thought about using "wealth managers" but ruled that out. Some friends lost 7% last year with soc gen and untill I understand wht they are doing I will leave them alone

The idea with the gold trade account is as a bit of fun to learn the ropes and hopefully earn the price of a meal. Seems there are plenty of tders with "insights" into everything.

More useful than playing bloody Hayday on an i pad as i sit in marina tavernas and cafes in Spain and Greece.

Originally Posted by Butterfly

late to the party, there are already other silly bets opened on Gold

The stakes are higher though, a UK Big Mac Meal is a lot more expensive than Thai one

Originally Posted by OhOh

Originally Posted by Lostandfound

a bit of fun to learn the ropes

You wait until you're down to the last £1,000, it becomes a little more serious then.

What is the determining "value", weights - Thai BHAT, ounces, grammes or currencies BHAT, £, €, US$, Yen, Yuan? Will you be deducting all BV charges for trading, insurance, storage, delivery etc.?

Are you going to post your trades? Have you started, if so your buy price would be useful?

Will you post the rational behind your trades?

Originally Posted by Lostandfound

More useful than playing bloody Hayday on an i pad

The decisions you make will also make your heart beat a lot faster. Another addiction to deny, shiny stuff, soapies, snorting, smoke, does the list end?

Originally Posted by Lostandfound

90 % of my capital in residential and commercial.

What's your ROI on that?

Roi on property generally around 6% after expenses overall. Mostly one and two bed flats, a couple of three beds. All of them were totally renovated as i bought them with solid floors, new combi boilers, fully tiled bathrooms and mega flow showers. Has meant maintenance costs been kept at a minimum. All let on long term ast s typical occupancy 18 months average. Capital appreciation been poor to be fair apart from a couple on sandbanks in poole tht went crazy for a while but seem to have dropped off 20% now from peak, but yield keeps me fed and sheltered.

The commercial return is higher on a small hotel.

Gold is priced in sterling, with goldbullion. Waiting on the money to clear their account as i only tf last night.

Meanwhile will have to read up a bit on how to use their app on i pad.

Do they have a "practise" account available. It might be wise to loose virtual money at first. It doesn't give you the same buzz though.

Good luck and report back soon.

Originally Posted by Lostandfound

I have almost zero investment experience, except in property where i have 90 % of my capital in residential and commercial.

so don't do it, it's more than likely (99%) that you will loose money overall if you don't understand the risk characteristics of those new investment. Very typical of individual investors.

Originally Posted by Lostandfound

The gold earned circa 5% last year, better than I get on deposit for cash.

yes, but not the same risk, so your deposit is actually not a bad deal. Gold is a risk asset and you might have negative earnings for it in the long run, unlike your cash deposit.

Originally Posted by Lostandfound

Some friends lost 7% last year with soc gen and untill I understand wht they are doing I will leave them alone

your friend was lucky, not a bad lost, the average is usually 10% with a private wealth manager

they are not doing anything, their job is to take fees directly from your money, take you out for lunch and spend the rest of the day playing AngryBirds on their iPad while pretending they are checking the market news.

Originally Posted by Lostandfound

The idea with the gold trade account is as a bit of fun to learn the ropes and hopefully earn the price of a meal

you won't learn shit about your investment with a trading account. It's all about research and reading, not pushing buttons. Even a monkey could learn how to push trading buttons in a matter of seconds.

Originally Posted by Lostandfound

Seems there are plenty of tders with "insights" into everything.

in Gold, it's full of nutters and bloggers, the worst insight

Originally Posted by Lostandfound

More useful than playing bloody Hayday on an i pad as i sit in marina tavernas and cafes in Spain and Greece.

I prefer reading and meditation myself, or fucking whores if I am in the mood for it

Originally Posted by Butterfly

in Gold, it's full of nutters and bloggers

They post far more information around their activities than the "Stock Investors" or the "Local Businessmen".

if you mean "more information" as spurious correlations, fairy tales and ancient myths, then I agree

"Stock Investors" and "Local Businessmen" stories are pale and boring in comparison

Originally Posted by Butterfly

fairy tales

A good fairy tale has kept the US/EU/UK/JPN economies flying for many a month.

Originally Posted by OhOh

A good fairy tale has kept the US/EU/UK/JPN economies flying for many a month.

it takes what it takes to motivate the economy

it always start with a fairy tale for reality to exist, see religion, platonic love, the invisible hand, the American dream, and the EU as good examples

^So, I take it "gold," is not something you recommend investing in in 2013?

Of course the gold marketeers are calling for a bull run on gold this year to $2,000/oz.

They did the same for 2012 and had some encouragement closing higher.

My problem is, I have gold, but when to sell? It keeps going up and I don't think its realistic to become one of those watchers who sells every upside and buys every downside.

Letting it sit seems very practical as it seems to overcome the downside rather well currently?

Originally Posted by Lostandfound

For a bit of fun Im having a competition with a pal over the next twelve months. We've each opened accounts with 15k sterling with bullion vault, the one with the most cash + gold value in a year wins a decent meal.

you will finish equal, that company will go bankrupt and vanish into the haze within 8 months

Originally Posted by ltnt

My problem is, I have gold, but when to sell? It keeps going up and I don't think its realistic to become one of those watchers who sells every upside and buys every downside.

it's actually the best way to do it, and the less risky to do it, and it will actually perform better than simply buy and hold

Originally Posted by ltnt

Letting it sit seems very practical as it seems to overcome the downside rather well currently?

the worst strategy actually, without rebalancing, you are not locking profits and diminishing your risk exposure, au contraire, you let yourself open to the worst scenario, like a sitting duck

^Sound advice Butter's. I would think that a total collapse of the gold market would take a bit longer than over-night? I bought gold beginning at $250/oz and latest was at $1,300/oz. Its sitting and climbing at almost $1,700/oz. now. If I had bought and sold as you say, my re-entry fees would have eaten up some of that profit. Sitting has only increased its worth imo. You make a very good point, but daily manipulations do little to increase advantages of buying and selling imo.

Originally Posted by ltnt

If I had bought and sold as you say, my re-entry fees would have eaten up some of that profit.

depends on what trading platform you are, choose one that is cheaper, I can't think of a trading cost taking all your interim profits, unless you are being ass raped by your British banker

Originally Posted by ltnt

but daily manipulations do little to increase advantages of buying and selling imo.

don't have to be daily, but monthly or even quarterly, at least annually

Originally Posted by ltnt

Its sitting and climbing at almost $1,700/oz. now.

sell 50% now, or at least 30% of it and buy it back when it's down to 1500

the usual prudent rule is to sell 50% when you are up 100%, you are past that already

you are not being prudent despite what you might think of yourself, just being greedy, which always lead to disasters

Originally Posted by ltnt

^Sound advice Butter's. I would think that a total collapse of the gold market would take a bit longer than over-night? I bought gold beginning at $250/oz and latest was at $1,300/oz. Its sitting and climbing at almost $1,700/oz. now. If I had bought and sold as you say, my re-entry fees would have eaten up some of that profit. Sitting has only increased its worth imo. You make a very good point, but daily manipulations do little to increase advantages of buying and selling imo.

Maybe you should ask somebody who knows what the fuck they are talking about and that is not Butterfly. Lets see his calls over the years compared to mine...

26-08-2010, 11:39 AM #2 (permalink (Gold price may rocket to 19,000 THB/1-baht weight) (Gold price may rocket to 19,000 THB/1-baht weight)) socal
Cheney/Rumsfeld 2012



Last Online: Today 01:20 PM
Join Date: Jun 2010
Location: Canada
Posts: 6,119




It could easily double in the next couple years.

Gold price $1195 at the time of writing

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24-05-2010, 02:24 PM #42 (permalink (Buying Gold with my Thai savings?)) Butterfly
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Join Date: Mar 2006
Posts: 35,436



Quote:
Originally Posted by Humbert



,
being long on Gold with 100% of your saving is suicidal

Gold price $1175 at the time
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25-06-2010, 08:53 PM #59 (permalink (Buying Gold with my Thai savings?)) Butterfly
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Join Date: Mar 2006
Posts: 35,436




oh yeah, gold, and how to buy an overvalued asset

don't listen to fools and hype, when the public is starting to buy gold, it's time to dump your holdings

Gold price $1200at the time

There you go..

Wow Itnt..

You are actually listening to this fucking fool ? I didn't even read that whole paragraph..

Sell 50% now ? And buy what ?
Butterfly doesn't know. He recommends nothing. I recommend buying and holding physical gold at these prices.

This thread is going to be just as funny to look back at as the other one.

Bookmarked..

Originally Posted by DrAndy

Originally Posted by Lostandfound

For a bit of fun Im having a competition with a pal over the next twelve months. We've each opened accounts with 15k sterling with bullion vault, the one with the most cash + gold value in a year wins a decent meal.

you will finish equal, that company will go bankrupt and vanish into the haze within 8 months

It's been running a lot longer than 8 months already. Maybe worthy of a wager on that prediction though....

^

you wouldn't know what risk and performance is, Mr gold day trader

disciplined rebalancing always enhance returns and lower risk, and it's a fact

Originally Posted by Butterfly

^

you wouldn't know what risk and performance is, Mr gold day trader

disciplined rebalancing always enhance returns and lower risk, and it's a fact

If you could comprehend my post you would understand that I was saying day trading gold was a dangerous thing to do. Yet you advocate it while at the same time claiming 99% of traders lose money (also incorrect)!

I don't understand performance? This is hilarious coming from someone who has consistently told other members to sell their gold or not to buy any while the price has nearly doubled? Your track record speaks for itself.