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View Full Version : How I buy silver, good, bad ?



NotAnOricle
22nd January 2010, 20:11
I was wondering what everyone thought about using the 200 day moving average of SLV as my own personal indicator to buy bullion.

1. I'm not a big purchaser, meaning a few $100 at a time.
2. I go to the coin shop down the street or online.
3. I don't "play the market", I buy and hold.


So, I have been using the SLV 200 Day Moving average as my buy point.

Is my method okay.

But then again, I'm no oracle.

Katwoman
22nd January 2010, 20:14
I pay the lowest price I can on the day I buy and I buy as much silver as I can afford to on the big dips. It is really that simple.

BullionMaster
22nd January 2010, 20:16
If you are buying physical, dont be surprised if the premium is in the 20+% range with your strategy - not to mention that your buying opportunities may be very, very few and far between.

A better strategy, and I trust that the "elders" around here would concur, is to dollar cost average your purchases over time - perhaps once a month or so. I think you would be better served that way.



I was wondering what everyone thought about using the 200 day moving average of SLV as my own personal indicator to buy bullion.

1. I'm not a big purchaser, meaning a few $100 at a time.
2. I go to the coin shop down the street or online.
3. I don't "play the market", I buy and hold.


So, I have been using the SLV 200 Day Moving average as my buy point.

Is my method okay.

But then again, I'm no oracle.

DaleFromCalgary
23rd January 2010, 09:08
"1. I'm not a big purchaser, meaning a few $100 at a time.
2. I go to the coin shop down the street or online.
3. I don't "play the market", I buy and hold.
So, I have been using the SLV 200 Day Moving average as my buy point."

I usually wait for a dip of at least two days duration. I buy only 10-ounce silver bars to keep the premium down. Last summer I could buy twenty bars at a time but for the past couple of months the average is two bars.

A year ago when I went into the dealer, I was usually the only customer there. Last early summer, lineups would form of people selling silverplate and RCM commemorative dollars. Now the lineups are of people buying silver Maple Leafs. Junk silver is unobtainable. The dealer's display cases used to be filled with oddball gold and silver coins and bars from walk-in customers; now it is half-empty.

argent_pur
23rd January 2010, 11:36
If you're the organized sort and have spare cash every payperiod, purchases at regular intervals will get you a good avg. market price for the year. On the other hand, some folks, like myself, buy when they have the $$$ to do so, at irregular intervals. Bottom line, no matter when you buy, look for the best price you can possibly get like Kat said.

Argentum
23rd January 2010, 12:59
Wait at least a day after I post that I've bought up a few pounds.... that way you will be sure to know that the price will be at least a buck or so lower than what I paid.

I will mostly buy when I have funds. I may try to do a bit of timing, but that never works much (see above paragraph)

NotAnOricle
23rd January 2010, 13:57
If you're the organized sort and have spare cash every payperiod, purchases at regular intervals will get you a good avg. market price for the year. On the other hand, some folks, like myself, buy when they have the $$$ to do so, at irregular intervals. Bottom line, no matter when you buy, look for the best price you can possibly get like Kat said.

^^Basically this is how I end up buying.
Kat's advice is excellent.

Sometimes I don't have the $$ and save up to buy and then when the price hits the moving average I will take the trip to the dealer.
I guess my irregular income affects my irregular buy rate?
Dollar cost averaging would be the norm.

NotAnOricle
26th January 2010, 10:43
At this writing SLV is 16.28.
200 day moving average 15.41.

0.87 to go and planning on buying today, if it goes another 0.50
:D

NotAnOricle
26th January 2010, 18:24
Picked up 111 ounces today.

Will I be kicking myself in the butt soon?

Hmmmm, I shall soon find out.