Why Is The Obvious Not So Obvious?

time for a lecture :)

for me it is easy..as..i have the required experiences.. both in relation to mental well being and trading dynamics..so..in other words..i know exactly what to do..what not to do..when to do it..and when not to do it..

as a precaution..i only risk money that i do not need..which is money i have already made..

i don't not want to make loads of money..simply.. because i do not need it..it is called "funded contentment" by some..but in lay mans words it just means "i already have enough to live comfortably on"

this can only be that way providing you have NO DEBT..this is crucial..and IMHO is the first thing that needs to be accomplished before you even consider the making easy money bit..

the hard facts are always hard to swallow..hence. we still see here today..even more monkeys than we had back in 2000..when i was that Gorilla that i mentioned previously!!!!!

end of lecture :)
 
Ed48 said:
Frankly I'm not in a good place.

Listening to so-called experts, I stupidly sunk a big chunk of net worth in silver investments back in 2013 and have been in heavy drawdown (mentally as well financially) ever since.

I did consider dumping this in 2019 and switching to bitcoin when it was $4k to try and salvage something from a bad situation. But I just couldn't pull the trigger and stuck with the lousy silver instead. Looking at the price of bitcoin now just makes me even more depressed.

Looking back, I wish I'd stayed well away from financial markets.

I could still sell the silver to raise a bit of capital to trade with but my emotional capital is well and truly spent.

If anyone has a cure for trader depression, please let me know.
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You might wish to send a PM to @themickey He spends a lot of time in the metals space, far as I know, and might have a way for you to transition your silver holdings into a different metal and come out on top..
 
sandy_s said:
Unfortunately only you yourself can unlock the obvious.
But the first lesson has to be stop listening to the experts. And think for youself.
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I've been thinking for more than 10 years now, thank you.
I cooked up the most crazy ideas and combinations; partly based on the numerous charts that have been posted here.
I'm creative, but just not smart enough...
 
Ed48 said:
Listening to so-called experts, I stupidly sunk a big chunk of net worth in silver investments back in 2013 and have been in heavy drawdown (mentally as well financially) ever since.
More...

How much did you invest and how much did you lose? Are those unrealized losses?

Never listen to experts. Not in this thread either. :)

Ed48 said:
If anyone has a cure for trader depression, please let me know.
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I've had my share of losses - but always shrugged them of confident I'll make it back in the future. I suppose we all handle it differently as our response to risk/losses are different. Also a big difference between losing your life savings at the age of 60 and a smaller sum at the age of 20.
 
Onra said:
I've been thinking for more than 10 years now, thank you.
I cooked up the most crazy ideas and combinations; partly based on the numerous charts that have been posted here.
I'm creative, but just not smart enough...
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Just if this helps you...there are numerous smart people who act in the dumbest way when it comes to trading. It is a war. And you need to prepare for it.
But as the thread says...you need to know the obvious...otherwise it will all come to a nought.
The silver lining is many people lose a lot of money before they become consistently profitable.
 
Laissez Faire said:
How much did you invest and how much did you lose? Are those unrealized losses?
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Yes, unrealized losses. I'm still holding the risky silver investments I bought in 2013.

It's a bit of a long story. All of this was done in a pension account I decided to start actively "managing" myself back in 2004. Things started out ok but fell apart when I bought into the precious metals hype after the 2007/8 financial crisis.

Account balance:
2004 - £40k
2007 - £90k
2013 - £55k
2019 - £8k
2021 - £9k

If only I'd left the £40k in the stock market in 2004 and done nothing...

If only I'd seen sense in 2013 and invested more sensibly...

If only I'd pulled the trigger in early 2019 and gambled on Bitcoin...

I know it's pointless dwelling on this and beating myself up about it but it's not easy facing up to what an utter fool I've been.

---------------------------

Maybe the right thing to do would be to forget about the past, ditch the silver investments, and start again with the £9k. However, that's easier said than done.
 
Ed48 said:
Yes, unrealized losses. I'm still holding the risky silver investments I bought in 2013.

It's a bit of a long story. All of this was done in a pension account I decided to start actively "managing" myself back in 2004. Things started out ok but fell apart when I bought into the precious metals hype after the 2007/8 financial crisis.

Account balance:
2004 - £40k
2007 - £90k
2013 - £55k
2019 - £8k
2021 - £9k

If only I'd left the £40k in the stock market in 2004 and done nothing...

If only I'd seen sense in 2013 and invested more sensibly...

If only I'd pulled the trigger in early 2019 and gambled on Bitcoin...

I know it's pointless dwelling on this and beating myself up about it but it's not easy facing up to what an utter fool I've been.

---------------------------

Maybe the right thing to do would be to forget about the past, ditch the silver investments, and start again with the £9k. However, that's easier said than done.
More...

To be honest - a £31K loss in one trade stings, but I've probably lost considerably more myself in tuition to the market, although over several accounts as I've been learning to trade.

If only...I'd invested in the stock market 10 years ago and didn't pursue day trading I would have been far, far better of myself. But hindsight is always 20/20.

I can't give you any advice on what to do, but regardless of if you keep holding or liquidate it, you need to archive this as a loss and forget about it and move forward.
 
Ed48 said:
Yes, unrealized losses. I'm still holding the risky silver investments I bought in 2013.

It's a bit of a long story. All of this was done in a pension account I decided to start actively "managing" myself back in 2004. Things started out ok but fell apart when I bought into the precious metals hype after the 2007/8 financial crisis.

Account balance:
2004 - £40k
2007 - £90k
2013 - £55k
2019 - £8k
2021 - £9k

If only I'd left the £40k in the stock market in 2004 and done nothing...

If only I'd seen sense in 2013 and invested more sensibly...

If only I'd pulled the trigger in early 2019 and gambled on Bitcoin...

I know it's pointless dwelling on this and beating myself up about it but it's not easy facing up to what an utter fool I've been.

---------------------------

Maybe the right thing to do would be to forget about the past, ditch the silver investments, and start again with the £9k. However, that's easier said than done.
More...
Sorry to be blunt...but are you sure you have learnt from the past?

Gambling based on hype, taking position and not doing anything are few habits that is sure to blow one’s account up.
 
sandy_s said:
Sorry to be blunt...but are you sure you have learnt from the past?

Gambling based on hype, taking position and not doing anything are few habits that is sure to blow one’s account up.
More...

Well, I've learned that I'm no good at speculating. :D

I suppose the sensible thing to do now would be to just put the £9k in a conservative fund. But even if it doubled by the time I'm 70 (in just over 10 years) it would hardly be much use as a pension.

A useful sum would be over £100k but that would require 1000% growth in 10 years. Which would presumably involve high-risk/gambling?
 
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