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RHODIUM....cheaper than Platinum now.
Tedim:
--- Quote from: Novena on June 05, 2014, 03:24:07 PM ---Taking actual delivery of commodities is a mistake. The only real way to make significant money is through futures trading. Be warned though, most don't make money.
--- End quote ---
if you cant hold it, you dont own it.....ETF's are a ponzi scheme. I have done options/futures but on metals prefer physical. I bought palladium in 2008 for 220 and took a truck load, sold half at 500.
Novena:
--- Quote from: Tedim on June 05, 2014, 03:40:52 PM ---if you cant hold it, you dont own it.....
--- End quote ---
Well exactly. You don't want to hold or own this junk. Just control a futures contract over a time period and exploit a price differential. (If you guessed right.)
Do you look for "formations" in technical charts? Or do you just do fundamentals?
24KT:
--- Quote from: Tedim on June 05, 2014, 12:48:53 PM ---on metals I dont I buy physical through Tulving
--- End quote ---
But at one time you DID recommend them, ...before they went out of business and took people's money. :'(
24KT:
--- Quote from: Novena on June 05, 2014, 03:24:07 PM ---Taking actual delivery of commodities is a mistake. The only real way to make significant money is through futures trading. Be warned though, most don't make money.
--- End quote ---
It depends on the entity, and the actual commodity involved. If you're Weston bakeries for example, you're going to want to take actual delivery on all that wheat. If you're Tysons, you're going to want to take delivery of those 4 tons of pork bellies, and if you're an individual looking for wealth insurance, you're going to want delivery or at least fulfillment of your physical gold.
The only way "people" make money on future's trading is to be part of the mechanism that fixes the prices.
24KT:
--- Quote from: Novena on June 06, 2014, 12:37:34 AM ---Well exactly. You don't want to hold or own this junk. Just control a futures contract over a time period and exploit a price differential. (If you guessed right.)
Do you look for "formations" in technical charts? Or do you just do fundamentals?
--- End quote ---
Having control over a futures contract isn't all it's cracked up to be. When pricing mechanisms are "fixed" by entities whose positions conflict again your own, having control of the contract leaves you completely NOT in control, and subject to hefty margins that can cause you to lose your money and position.
Why do you think Barclays just got hit with a £26 million fine ($44 million USD) ?
You can rest assured as more & more futures contracts reach maturation, we're going to see another huge smash in the gold price soon, as central banks look to cover their short positions. When this happens, positions are stopped out. When it comes to precious metals as money or financial insurance, you're better off taking actual physical than a piece of paper. IOU's from the DTCC aren't worth the paper they're not even written on.
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