Do you dare?

Sometimes we can make money speculatively. But the questions lies in ‘Do you dare?’
Ok lah, maybe another question is “Do I have the available cash?”
Have a look at the price of 1 oz of gold over the past few days / weeks below.
From this bird-eye overview, it’s easy for us to say we buy at the lowest and sell at the highest and make a hefty sum in just a few days

However, if we put ourselves in the shoe at that particular point of time … let’s say on the 9/10/08 or 23/10/08
1. We may have limited resources of RM3500 – enough just for 1 gold coin.
2. If we have purchased the gold coin today, what if starting tomorrow it goes down further?
3. What if we don’t buy today (and missed the opportunity), and starting tomorrow the price shoots up higher?
4. What if I buy today and the prices go down further? And I don’t have cash to average down my cost?
5. What if I sold when I think the price is high but it went up much higher the following day?
6. What if I didn’t sell and today’s price was the highest ever it could get in this year?

There are too many ‘what if’s to consider and I’ve been through that many many times that I’ve understood that it’s never good to be greedy.
It’s always better to take the profit 1st, have the available cash flow to capture the next opportunity especially in volatile market.
I try not to hold on long and because we will tend to be taken for a ride in the cycle.
At times, I realized we will be back to where we begin if we refuse to let go just because of a few more dollar.

Once I was surprised to find out that while I was selling around the 8th to 10th of October, there were about 100 gold coins sold.
I remember reading somewhere that people generally buy into the market due to 2 things
1. They are optimistic that it will go up
2. They don’t want to miss the ‘good’ thing / ‘good’ opportunity
I couldn’t agree more.

When times are not so rosy (maybe I should just say BAD),
we are all affected in one way or another,

however, if we think further, we can be affected in good ways….

Selling buying
29/10/2008 GOLD MAPLE LEAF 1 OZ 2809 2724
28/10/2008 GOLD MAPLE LEAF 1 OZ 2787 2702
24/10/2008 GOLD MAPLE LEAF 1 OZ 2759 2674
23/10/2008 GOLD MAPLE LEAF 1 OZ 2714 2629
22/10/2008 GOLD MAPLE LEAF 1 OZ 2896 2811
21/10/2008 GOLD MAPLE LEAF 1 OZ 2967 2882
20/10/2008 GOLD MAPLE LEAF 1 OZ 2949 2864
17/10/2008 GOLD MAPLE LEAF 1 OZ 2983 2898
16/10/2008 GOLD MAPLE LEAF 1 OZ 3123 3038
15/10/2008 GOLD MAPLE LEAF 1 OZ 3123 3038
14/10/2008 GOLD MAPLE LEAF 1 OZ 3108 3023
13/10/2008 GOLD MAPLE LEAF 1 OZ 3195 3110
13/10/2008 GOLD MAPLE LEAF 1 OZ 3151 3066
10/10/2008 GOLD MAPLE LEAF 1 OZ 3334 3249
10/10/2008 GOLD MAPLE LEAF 1 OZ 3362 3277
9/10/2008 GOLD MAPLE LEAF 1 OZ 3294 3209
8/10/2008 GOLD MAPLE LEAF 1 OZ 3206 3121
8/10/2008 GOLD MAPLE LEAF 1 OZ 3223 3138
7/10/2008 GOLD MAPLE LEAF 1 OZ 3142 3057
7/10/2008 GOLD MAPLE LEAF 1 OZ 3156 3071
7/10/2008 GOLD MAPLE LEAF 1 OZ 3166 3081
6/10/2008 GOLD MAPLE LEAF 1 OZ 3033 2948
3/10/2008 GOLD MAPLE LEAF 1 OZ 3034 2949
30/09/2008 GOLD MAPLE LEAF 1 OZ 3244 3159
29/09/2008 GOLD MAPLE LEAF 1 OZ 3140 3055
26/09/2008 GOLD MAPLE LEAF 1 OZ 3146 3061
25/09/2008 GOLD MAPLE LEAF 1 OZ 3184 3099
25/09/2008 GOLD MAPLE LEAF 1 OZ 3160 3075
24/09/2008 GOLD MAPLE LEAF 1 OZ 3150 3065
23/09/2008 GOLD MAPLE LEAF 1 OZ 3169 3084
23/09/2008 GOLD MAPLE LEAF 1 OZ 3192 3107
22/09/2008 GOLD MAPLE LEAF 1 OZ 3085 3000
19/09/2008 GOLD MAPLE LEAF 1 OZ 3055 2970
19/09/2008 GOLD MAPLE LEAF 1 OZ 3094 3009
18/09/2008 GOLD MAPLE LEAF 1 OZ 3170 3085
18/09/2008 GOLD MAPLE LEAF 1 OZ 3210 3125
17/09/2008 GOLD MAPLE LEAF 1 OZ 2825 2740
16/09/2008 GOLD MAPLE LEAF 1 OZ 2830 2745
15/09/2008 GOLD MAPLE LEAF 1 OZ 2840 2755