I've done bugger all over christmas. A neighbour brought some food round with a bit of tinsel on it, which was nice of her. She's been good since wifey left the planet.
Would normally put this on the stockmarket thread but it needs a more general read, someone else might want to play:
Mods do what you want, no complaints.
In stockmarket parlance there are some acronyms - HODL Hold On for Dear LIfe which is how you lose the farm
FOMO Fear of missing out , and then YOLO You only live once, which is another way to lose the farm.
Silver is "squeezing" on increased demand, so I YOLO'd a bit on 23rd with 50k of margin at 10:1 (the standard).
It could have collapsed, but would have been bought up; it can't go on up at the current rate forever, but I think the collapse if there is one, will be later, so if it had dropped, I'd have HODL'd on whatever was left after hitting a stop-loss, though I may have forgotten to set one.. You can use "trailing" stops, yada yada...
I just chickened out - well I let it hit a preset sell level. Bought at a tad under 70 on 23rd, and it sold at a Stop (preset sell price) 81.5, tonight. It went higher but dropped a couple of percent after. Edit - it's rising again right now.
I'll take you through the sums:
You lay down £50k, and you're borrowing 10x that at the platform's overnight rate of 0.028% - (this is a crappy platform, others are much lower %. They all get their profit somewhere)
So it was 50k x 10 = 500k borrowed at that rate = £140 a night. Other platforms might be only £50..
5 nights since 23rd, £700 cost.
Price then, went from ~70 to 81.5.
Value went from 500 to
500k x 81.5 /70 = 582k after removing the 700.
82k then for doing bugger all. Less 20% CGT = 65k. Merry xmas.
I don't need the money. I have my own health problems. I have a more or less constant chest pain. Whenever I tell a medic, they send the wagon round to woo woo me away. Right side of heart I think = not fixable.
That might seem a lot of risk, but remember all the money I trade /bet (if you want to use that word!) is winnings.
You could say use £50 or £500, it all scales. Repeat - "Stop loss" settings prevent you losing much. It's safer but boring if you sit and watch.
I offered to buy the neighbour's 3 kids a laptop each - she won't hear of it.
What can a chap do?
So you might want to watch the silver price - gold, palladium, platinum too.
SIlver is getting to be in short supply. Chips, EV's and Solar panels use a lot of it, as do future batteries. So it's not just a tulip.
Reserves ( the portion of the resource which is economically worth extracting), will increase, as Lithium's did, but - who knows how much? Someone I daresay, ask AI?
Edit I have now I set a buy stop at 77, but for less. So it'll get bought of the price drops to 77. A "stop" usually means a "go"...