Message:

<p>[QUOTE=&quot;GDJMSP, post: 1461837, member: 112&quot;]JBlade - </p><p><br /></p><p>What you have to understand is this. It doesn&#039;t matter what the coins cost. There&#039;s 3 basic things that are required if you wish to make money on coins. I&#039;ll list them in order of importance.</p><p><br /></p><p>1 - knowledge.</p><p>2 - timing</p><p>3 - luck</p><p><br /></p><p>Knowledge is most important for the same reason it is important in everything else in life. In other words, if you don&#039;t know what you&#039;re doing it&#039;s not likely you will be successful at it. And there is a lot to know when it comes to coins. Knowledge is also #1 for a different reason. It is #1 because it is quite literally the first step in the process. And the reason it is the first step in the process is because even though most folks don&#039;t realize it, you make your money on coins when you buy them, not when you sell them. And knowledge also has a huge impact on the second most important thing - timing.</p><p><br /></p><p>Timing is important for obvious reasons. And it is also a double edged sword for you have to buy at the right time and sell at the right time to be successful. Be wrong on either one, and you will lose one way or another. In other words, you can buy the very best coins there are to buy. You can even buy them at the perfect time. But if you don&#039;t sell them at the right time - you lose. So you have to buy at the right time, and sell at the right time - to win.</p><p><br /></p><p>And that&#039;s where the 3rd most important thing comes into play - luck. Some people say they don&#039;t believe in luck. Horse puckey ! Luck is real, and just like timing it&#039;s a doubled edged sword because there&#039;s good luck and bad luck. </p><p><br /></p><p>For example, say you&#039;re looking to buy one of those extremely valuable coins you mentioned. You have the money, you can afford it. You have the knowledge, you can make an informed decision about which example to buy. But you have to be lucky enough to find one, and lucky enough to find it at just the right time. Let&#039;s say you do and you make your purchase. You&#039;re ecstatic - hard part&#039;s over !</p><p><br /></p><p>But now it&#039;s a year or two later. You have the bad luck to find out you just lost your job, and your prospects of finding another are slim to none. Or, you suddenly find out that you (or a loved one) have a nasty disease and need immediate and very expensive medical treatment. Your insurance will pay most of it but your end is going to break you one way or the other. Or you have a massive heart attack, or - or - or. There are a thousand possible things that could happen - all of them bad. End result is you have to sell your coins and you have to sell them very quickly. Very bad luck !</p><p><br /></p><p>But the timing is all wrong, worst possible time there could be. The market turned down 6 months earlier and people just aren&#039;t buying anything, doubly so expensive things. But you have to sell - no other way out. So you do, and you only realize half of what you paid for those coins. Very bad luck.</p><p><br /></p><p>Of course the same thing can happen with any investment, but that doesn&#039;t change or alter one bit what happened - you still lost. And in the end that is the only thing that matters. And yes the same 3 things are required with any other investment as well. But that doesn&#039;t change anything either. The only thing that matter is that those 3 things apply to coins. The thing that really makes coins different from other investments is the 1st thing - knowledge. There is a lot more you must know about coins to be successful than there is with other investments - a lot more to know.</p><p><br /></p><p>Can you do it ? Of course you can. But the odds are against you, strongly against you. And odds, or probability, are what makes an investment a good idea or a bad idea. And that was the question you asked - coins, good or not ?</p><p><br /></p><p>You also asked whether or not anybody had an actual experience. I do. Over the course of my life I bought and sold 2 collections. Lost money on both of them, a good bit of money. I didn&#039;t care at the time because I never bought even 1 coin with the idea of making money on them, I bought because I &quot;liked&quot; the coin. And I&#039;m not just your average Joe either. I have the knowledge, I probably know more about coins than 90%, maybe more, of the other people out there. And yet I still lost money. </p><p><br /></p><p>Why ? Because 1 thing was wrong. I sold at the wrong time. And that&#039;s all it takes - you only have to get 1 thing wrong to lose. Had the knowledge, luck was on my side in allowing me to find the right coins, at the right time, and when I could afford it. But I sold at the wrong time, so I lost. It happens.</p><p><br /></p><p>Of course the real problem is this - the frequency at which it happens. And people losing on coins happens far, far, more frequently than people winning happens. And that&#039;s because the odds are against you. And they are against you more so with coins than they are with other investments.[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in