Taking profit from stock to buy gold

[DarkChameleon]

On 07/05/2021 at 16:31, Stacktastic said:

Personally Im going to cash at the moment and liquidating most of my stocks that are not in the red, especially the speculative miners. 

I am also holding physical gold and silver, but prefer cash atm. 

I will be trading and swing trading if something comes along, but nothing long term. 

With regards to silver and VAT, just buy it on here second hand.

Silver is the metal to have I think, mining stocks are great but will also go down if the markets do or inflation really hits hard. 
Gold is not too bad, but I think thats is expensive assuming that there is not depression. a tube of brits is not a silly notion!! 

Crypto. I don't know. a lot of fast money has been made, but we can easily see a complete collapse in that bubble (especially with outlawing it) or at least a 90% correction in the next 5 years based on trust! I own a blockchain stock thats -45% to remind me of the speculative nature of it so im out regardless of the short term money making returns.

To sum up I am hoping to have the time to save as much as possible and buy up cheap high paying dividend stocks that will still be active in 40 years time. spread it wide so it covers the world, especially emerging markets (like Russia) & all sectors - especially tangibles like oil, precious metals & anything required in electrics and batteries/energy creation & things required whatever happens (ie unilever products). 

After elon masks attack on dogecoin it plummeted, theybare that fragile, people talk about fiat and inflation but what do dealers sell silver and gold for, they trust the mighty fiat, their suppliers take fiat for pm's, cash is instant liquid that nothing else is as stable right now, not even the metals we buy...we use it to get in and out of investments in the time it ages to drive someplace and not a 5% swing on the way there for the most part.

[pricha]

The present market reminds me of the .com bubble.  After that i just bought gold sovereigns , good times, bad times, high or low.  Kept buying and will keep buying. I'm not interested in get rich strategies . Then in a few years time i'll have myself a nice pension . And the thing is , it's tax free. The government know nothing about it. I can sell a few when ever i need to supplement my work pension.  It's the best thing I've ever done.  I'll leave trying to second guess markets to others. Too many Equitable life and Neil Woodfords for my liking ...

[Stacktastic]

 

7 hours ago, DarkChameleon said:

After elon masks attack on dogecoin it plummeted,

I missed that. I have to say the reason i got into crypto (litecoin & Cardano) if when he bought into it. 
I sold it all some time back, the Dogecoin thing sums it all up if you ask me. 
If free money stops and the s**** really hits the fan, I am wondering how many people will still hold thier bitcoin or sell out. 
Looking at most the people online holding it and also the hot stock picks they are all under 30 and seem very very inexperienced. 
Its almost cult like & a lot of people are all in on it & might not have any savings or assets. 
Combine a crash with them not having a job anymore (as the welfare stops) they will be screwed!!
Add in higher living costs and inflation - boom homelessness. 

I struggle to find someone that has a lifetime credibility in trading that is all in on Bitcoin and not just trying to make a quick buck. 
I dont buy the "they are just old gits & dont know what its about" stuff. These are billionaire investors & a lot also tech savvy. 
There is a reason Gates has sold all his tech stocks and bought farm land isnt there! 
I might be wrong, but I think I could pick bitcoin up for £10k in the next 5 years easily. 

4 hours ago, pricha said:

The present market reminds me of the .com bubble.  

Totally I agree & the markets are showing the red flags I think?
you lived through that I was at school at the time so had clue. 

My dad was a member of the stock exchange in the 80's selling guilts. 
He was so good as a jobber that someone gave him 350k (a lot back then) to join. 
Made a fortune somehow??
Then spent it without investing or making any investments whatsoever!!!
Sold every house we lived in at a loss etc. etc. 

He bought into tech just before it crashed as a private investor. 
Just shows how thick some people can be doesn't it!!
The charts and stuff say it all. But I guess he did not have Yahoo finance. 

Thats why i am here I guess isnt it??
I had a bad feeling in my stomach this time last year which is what stopped me getting in then. 
Kind of wished I had as there were some amazing trades, but this year is going to very different Q3 onwards I think?

[Jimmy2trees]

On 07/05/2021 at 22:43, Stacktastic said:

Great to hear. I know I can make 3k or whatever over a month or a year on a Dogecoin, pharmo stock investment or whatever, but I dont like the risks on that. 
I have tried a few times, but its a lot of work and severe stress. Plus the stats dont add up as traders dont do any better. 
I have to say its tempting as my friend showed me a £130 investment on some alt coin that has netted £2000 today! 
Thats one of many coins that have done that, he has been polite not to show me his true gains LOl. 
But I dont care, there is something about greed and fast oney that has grown in me in the last few months. 
Cant put my finger on it, but its esoterical I think. I have a lovely home nice life and family, im content I guess? 

With regards to trading and short term investing I dont like the time, effort and stress connected to it. I held lite coin and cardano recently and its stressful buying high. 
I just see the spotty faced millenitals on YouTube and its a red flag for me, especially with crypto they just seem so inexperienced & clueless. 
I cant find anyone credible actually outside of Elon Musk. Maybe I have not looked hard enough?? 

I😛

 

I don’t understand why you frame everything in terms of trading when it comes to investing in cryptos. Having been into Bitcoin since 2012, I can assure you that the best strategy and the one which has made the most money has been to buy and hold. Or HODLING as we like to call it.

Trading cryptos only became fashionable in 2017 with the proliferation of pre-mined shitecoins being pumped and dumped to dupe newbies looking to make a fast buck. Most traders lose money eventually and even those that gain tend to convert their gains into Bitcoin. 

Its just not worth the hassle. Instead, I would suggest ignoring all other cryptos and "blockchain" type investments and just buying and holding Bitcoin. 

Also, I don’t understand why you consider Elon musk a credible source when it comes to cryptos 

[Spark268]

there's some value in cryptos. but a meme currency that is dogecoin is now worth more than the silver market shows that a lot of these hodlers will be facing a rude awaking imho

[Stacktastic]

10 hours ago, Jimmy2trees said:

I don’t understand why you frame everything in terms of trading when it comes to investing in cryptos.

Nice one, good for getting in early, wish I had the sense to do that.
I wish I had bought in early and cashed out some to transfer to another asset type - leave the rest to run. 
I would certainly look at it as a 20 year investment, but make sure I made back my initial investment. 

I guess Elon was a credible person as he is super intelligent and one of the worlds richest men. 
Lets face it he does not make decisions lightly & you know he has spent weeks looking into it on an obsessive level. 
Thats my take anyway? 

I dont consider it a trade, its a longer term thing and I will certainly pick it up when or if its on sale again.
I like the concept & technology behind it and it will almost certainly morph into other things I would say.
I guess NFT's are an example of that?

Im not really an expert, but I know when i am late to a party, thats all I guess. 
Yes Bitcoin would be ideal but I think its still very early days for this space. 

9 hours ago, Spark268 said:

 these hodlers will be facing a rude awaking imho

Yes. I saw on Kitco that an 'expert' was buying bitcoin matter what the price  saying no one will hold gold in 5 years. 
Considering he hosts a TV show an expert I found that highly ignorant & dangerous, even just from a lack of diversification aspect. 
but thats a common thought pattern with crypto people looking on Youtube. 
He has literally bought no matter the price.

I certainly want to have blockchain or crypto in my portfolio, but it will 

[MrTT]

Take out the profits from stock / crypto and buy gold and silver.

Stock / crypto are in a huge bubbel.

Gold & silver are very undervalued.

[Roy]

11 hours ago, Jimmy2trees said:

Having been into Bitcoin since 2012, I can assure you that the best strategy and the one which has made the most money has been to buy and hold. Or HODLING as we like to call it.

If you bought bitcoin in 2012 and HODL'd throughout, then you must be a bitcoin millionaire?

If not, where did you go wrong? 

[Jimmy2trees]

2 hours ago, MrTT said:

Take out the profits from stock / crypto and buy gold and silver.

Stock / crypto are in a huge bubbel.

Gold & silver are very undervalued.

Over the past year I have been doing the exact opposite 😅 

[Stacktastic]

36 minutes ago, Jimmy2trees said:

Over the past year I have been doing the exact opposite 😅 

Gold especially is a great trading item this year for me although I was late to the party!! 
I sold a lot of it just before it tanked recently, so did well there!
Not massive returns, but better than nothing!

I got a lot of silver though when it hit £14 so also did well with that on the first squeeze. 
I intend to do the same again this year outside of a socio economic meltdown or war. 
But keep at least 10% in wealth at all times. Like the QB sets etc. 

In terms of another sizeable (for me anyway) investment. 
A camper conversion from scratch seems like a good idea as they really hold & also accrue value!!
I literally think I can double the money if not more, if done properly and on a budget. 

Not such a liquid asset in a s**** storm mind you, but it's also somewhere to live if its that bad LOL.
Plus I will save tons on air b&B & eating out on holidays and probbaly have more fun. 

[Jimmy2trees]

2 hours ago, Roy said:

If you bought bitcoin in 2012 and HODL'd throughout, then you must be a bitcoin millionaire?

If not, where did you go wrong? 

My initial investment in 2012 was around  £5k which at the time bought  700 bitcoins and at today's price would be worth around £28 million 

However I sold most of them during the high of 2017 at around £14k but still hodled a few and have not sold any more at the most recent highs

I'm waiting for £200k per bitcoin (which is a matter of when not if) then ill cash out some  more and maybe buy a Tesla if they accept Bitcoin in the UK by then.

If I was a no-coiner, I would be buying even at today's prices because the fundamentals of Bitcoin are rock solid and the price reflects true value and has potential to reach unimaginable highs.

[Jimmy2trees]

2 minutes ago, Stacktastic said:

Gold especially is a great trading item this year for me although I was late to the party!! 
I sold a lot of it just before it tanked recently, so did well there!
Not massive returns, but better than nothing!

I got a lot of silver though when it hit £14 so also did well with that on the first squeeze. 
I intend to do the same again this year outside of a socio economic meltdown or war. 
But keep at least 10% in wealth at all times. Like the QB sets etc. 

In terms of another sizeable (for me anyway) investment. 
A camper conversion from scratch seems like a good idea as they really hold & also accrue value!!
I literally think I can double the money if not more, if done properly and on a budget. 

Not such a liquid asset in a s**** storm mind you, but it's also somewhere to live if its that bad LOL.
Plus I will save tons on air b&B & eating out on holidays and probbaly have more fun. 

JUST BUY SOME BLOODY BITCOIN!!!  😉

[Stacktastic]

9 minutes ago, Jimmy2trees said:

JUST BUY SOME BLOODY BITCOIN!!!  😉

LOL. Yeah don't worry I will when it hits £10k again.

Flipping hell what would I invest 28 million in?? 
You can buy a lot of assets with that amount of cash. 

Well done for holding the rest! 

[Roy]

30 minutes ago, Jimmy2trees said:

My initial investment in 2012 was around  £5k which at the time bought  700 bitcoins and at today's price would be worth around £28 million 

However I sold most of them during the high of 2017 at around £14k but still hodled a few and have not sold any more at the most recent highs

If you only sold 100 BTC @ £14,000 you'd be a millionaire?

[Jimmy2trees]

12 minutes ago, Stacktastic said:

LOL. Yeah don't worry I will when it hits £10k again.

Flipping hell what would I invest 28 million in?? 
You can buy a lot of assets with that amount of cash. 

Well done for holding the rest! 

Bitcoin kissed goodbye to £10k last year and is very very unlikely to ever get that low again my friend. 

When it hits £100k you'll be waiting for it to go down to £50k (which it never will) and while you continue to chase your tail you'll be missing out on massive gains. 

If you have the cash just sitting around buying Bitcoin is easily the best thing to do with it, even at current prices 

[pricha]

[MrTT]

6 hours ago, Jimmy2trees said:

Bitcoin kissed goodbye to £10k last year and is very very unlikely to ever get that low again my friend. 

When it hits £100k you'll be waiting for it to go down to £50k (which it never will) and while you continue to chase your tail you'll be missing out on massive gains. 

If you have the cash just sitting around buying Bitcoin is easily the best thing to do with it, even at current prices 

What goes up must come down

[pricha]

Just now, pricha said:

Maybe this is the one that'll will go upwards forever and ever ? This time it's different ? Maybe that's the cynic in me? 

[Stacktastic]

7 hours ago, Jimmy2trees said:

unlikely to ever get that low again my friend. 

Thanks. You may be very right. 
I dont really care now tbh I have made my moves and decided otherwise. 
I was mamy £k in crypo recently and was not happy at all. 

My mate bought a new harley off some of the profits today.
Great for him Im really pleased as he has really risked all for that. 
having said that - I bought a £200 gun with the 4k I have made in stocks.
.22 webley nemesis plinker to teach the kids shoot in the garden. 

I dont know about crypto & to be fair Im not too bothered.
I would be fine had I spent 2k on Bitcoin in 2012,
but I dont see the point investing in somehting thats clearly near the top for now at least. 
The risk reward is not great given the fundamentals.

There is time to make moves in that space I think its only getting started. 
The internet revolution showed that it somehow similar.
I think there will still be super great investments in this space in 3-20 years. 

I happy to bide my time and invest my saving to invest in decent paying dividend stocks
& then deploy the profits it into blockchain maybe? The next 50 years are going to be mad. 
I might even be still alive by then 😛

as long as I am happy & healthy I know I will be wealthy
I made that up just now, has a ring to it.
 

[pricha]

I read somewhere the other day that a lot of this speculation is mainly younger people who'd never be able to afford a home in normal circumstances just buying and selling to each other, to try and get rich . In America they are using Government hand outs to gamble. Seems like a madcap game of pass the parcel.  Once the free money stops the music stops.  Seems plausible to me. 

[MrTT]

7 minutes ago, pricha said:

I read somewhere the other day that a lot of this speculation is mainly younger people who'd never be able to afford a home in normal circumstances just buying and selling to each other, to try and get rich . In America they are using Government hand outs to gamble. Seems like a madcap game of pass the parcel.  Once the free money stops the music stops.  Seems plausible to me. 

Fear of missing out (FOMO) is a social anxiety stemming from the belief that others might be having fun while the person experiencing the anxiety is not present. It is characterized by a desire to stay continually connected with what others are doing.

[KRO]

On 09/05/2021 at 20:11, Stacktastic said:

I dont buy the "they are just old gits & dont know what its about" stuff. 

I might be wrong, but I think I could pick bitcoin up for £10k in the next 5 years easily. 

 

As an "old git", I don't think you will have to wait that long
When somethings "worth" £41,000 on Sunday, pump and dump Musk issues one tweet,
and its suddenly worth £35,000 by Thursday, how can people possibly  describe it as "digital gold"
Thats an insult to gold, at least I can sleep soundly at night 
even though the Brits and Sovs under the mattress are a bit lumpy😀