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<p>[QUOTE=&quot;medoraman, post: 1241510, member: 26302&quot;]Very good point. If someone spends all of their time just trying to &quot;catch a deal&quot; relative to the market, they are the equivalent of day traders in stocks. This isn&#039;t bad if you are simply going to flip, but if you want to hold long term its not where to start.</p><p><br /></p><p>There are two types of stock traders, ones who think long term and try to decide if this $30 stock will be worth $90 in a few years because of improving fundamentals, increased sales, new product introductions, current market incorrectly valuing it, etc. The second type simply accepts the price is what it is, and tries to make money on the margins, buy/sell spreads, intraday trading, weekly variations, etc. </p><p><br /></p><p>I have never been a strong believer in the second type. I know money can be made by astute traders, but it just doesn&#039;t interest me. I prefer to step back and look at an asset and decide what I feel its long term value will be, and buy those which I think I will be happy with in the next decade. </p><p><br /></p><p>If you are a short term trader, I would simply advise to be careful since some of the smartest and quick thinking people I have ever met do that for a living.</p><p><br /></p><p>Just one word of advise to everyone. I know a lot of people have made a lot of money with silver and gold here. Make sure you do not overestimate your market predicting abilities just because you made this money. I remember the dotcom era well, with tens of thousands thinking they were geniuses because they were day trading in tech stocks and winning. Believing in a market when it is on a bull run has the tendency to make a person think they REALLY know what they are doing, and that this will continue forever because they believe it will. How many day traders have you heard of in the last decade? I am simply saying this because a lot of people I knew lost a LOT of money believing that gold and silver HAD to come back to their 1980 levels, and kept chasing it through the 1980&#039;s. I am not silly enough to be predicting an end of PM bull run, just throwing out a caution to everyone to please keep an open mind, and realize all bull runs eventually run out of steam. I would hate to see anyone here to chase after a bull like all of those dealers I saw in the 80&#039;s.[/QUOTE]</p><p><br /></p>

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