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rbutler
09-30-2011, 10:13 AM
Greetings from Texas,

First would like to say I have been lurking for weeks, finally got approved overnight to post. The wife and I are new stackers, we got in the PM market on 9-6 this year, have made two fairly large buys so far (large for us at least). Sadly we procrastinated for a year, we discussed buying in last year but never jumped, Gold was at 900 at the time :mad: My Avg right now is Gold $1826, Silver 43.88 not including the $250 FV junk silver purchased! I know we will go up in the future but right now I am down over 10 grand at current performance.

I am a knowledge junkie, anything I get into I try and learn as much as I can to be well informed in my decisions. I have been on a severe learning curve the past few weeks and finding myself to be on information overload at times! Trying to understand the lingo, charts and all technical information I can and I am grasping more and more every day but, I still have a way to go.

We are stacking because we are afraid our fiat is in major risk of causing us to lose what little wealth we have. Like many these days, we have been swayed by advisers and media to form certain opinions when it came to money! Only until we really looked at (researched deeply about the fed and fiat currency) Ron Paul as our choice this election cycle, have we now opened our eyes to the much larger picture of things!

I know this board is full of all sides of any argument you can have about PM's but for someone like ourselves who are in our early 40's who have decent incomes and some debt but not in over our heads at this point. We need help and luck to be sure we are doing what is right in many areas concerning wealth preservation. Our adviser wasn't happy about us cashing out one of our accounts to use for PM's but after we argued our points, he couldn't blame us.

I will get to my questions but I think its important to give you a bit of our situation and background. We have a IRA that has taken a beating in the market, we have investigated rolling it into a PM IRA, we are not keen on the fees or the fact we don't have possession and the SHTF scenario scares us about getting it out in time. We are considering taking the hickey and pulling it out.

My questions are directed to the long timers here. We are not looking for overnight profits or getting rich quick. We are looking at long term wealth preservation and/or SHTF safety over paper. I have seen many here say never put all your eggs in one basket, but when you view the world situation as we do, as our confidence in FIAT $ is little to none. What are the options?
To us, its a gamble either way.

I have tried to pay attention to many of the post here concerning charts and the technical side of things. I have retained some of that study and scratched the surface (barley) in understanding a small portion of it. As someone who is behind the 8 ball so late in the 10yr bull run, I am looking at the next best buy opportunity.

Most of our stack at the moment is more silver than Gold, we only have 6 ounces of Gold VS just under 300 of silver (again not including the junk). The stacking has been diverse, 2 100 oz bars, generic rounds, ASE and 10 oz bars on the silver end. 2 GAE, 2 1oz perth mint bars, 2 Gold maples in the other end. If we go the route of cashing the IRA, that purchase will be 90% or so into Gold.

The main questions I have are about chart reading. I have been reading the thread Major Market Movements, some I understand, some I don't. Can anyone here point me in the direction of the best study tools to learn how to use these chart patterns? Keeping in mind that the explanations need to be on the beginner level! I have googled some of this and found little information that has helped, but I need deeper knowledge in this area.

Sorry for the length of my first post but I just wanted to not only introduce myself but also wanted some background on our dilemma!

Thank you for your time and patience.

Happy Stacking

galtbob
09-30-2011, 12:15 PM
Well I can't address that monster thread, I have yet to look at even a single page of the 17,000 comments.

But for charting in general, it takes some time. You have to find which tools make sense to you, and then how to use them (two very different things). Keep it as simple as possible. I use a chart with 3 moving average lines, one indicator (MACD), and I draw some formations (trends, fibs) as they seem appropriate. I use the same settings for all instruments and all time frames. If you want to see a zillion charts, take a look at http://www.dacharts.com You will see all manner of graphical gibberish there, and will quickly see what I mean about keeping it simple.

Speaking of time frames, that is the single most important thing you need to understand about any instrument. What are the trends and directions and inflection points on each pertinent time frame?

rbutler
09-30-2011, 12:18 PM
Well I can't address that monster thread, I have yet to look at even a single page of the 17,000 comments.

But for charting in general, it takes some time. You have to find which tools make sense to you, and then how to use them (two very different things). Keep it as simple as possible. I use a chart with 3 moving average lines, one indicator (MACD), and I draw some formations (trends, fibs) as they seem appropriate. I use the same settings for all instruments and all time frames. If you want to see a zillion charts, take a look at http://www.dacharts.com You will see all manner of graphical gibberish there, and will quickly see what I mean about keeping it simple.

Speaking of time frames, that is the single most important thing you need to understand about any instrument. What are the trends and directions and inflection points on each pertinent time frame?

Thank you!! I will start the digestion process's asap!! :eek: For days I was lost in just the jargon.

Scorp
09-30-2011, 12:25 PM
Here is a page with a few videos on trend line and triangles :

http://tradingvideoguide.com/trading-methods-chart-patterns/

I am quite a visual guy so I like learning from vids.

rbutler
09-30-2011, 12:30 PM
Here is a page with a few videos on trend line and triangles :

http://tradingvideoguide.com/trading-methods-chart-patterns/

I am quite a visual guy so I like learning from vids.

This is a major help, thank you! Visual is so much easier to understand the more complex things in life like charts and women!! :p

opalboy
09-30-2011, 03:14 PM
you ought to check out tfmetalsreport.com lots of good info on that site and the forums there!

rbutler
09-30-2011, 04:39 PM
you ought to check out tfmetalsreport.com lots of good info on that site and the forums there!

Thanks! I will check it out.