Time to exit my silver position.

I maintained a $4.35 average for sometime, and now I am out plus $45.00. When I took the silver bars to the exchange in our area they saw the price still on one, and it brought some laughter.

Why mention this?

Only one reason, and that is to share with newer traders that there is more to trading than following a chart. A chart (technical trading) is OK for those that enjoy speculation, kind of like systems used in Vegas.

Using common sense sometime gets lost, and replaced by technical moves.. silver is a good example. I have traded silver only a couple of times over the years. One purchase $12.00 sold $44.00, and the other this current trade.

Silver at $4.35 is a limited risk trade $4.35 that’s' it the upside wide open (unlimited). Now look at the risk buying here you are risking $45.00 for you to double your money silver must go to $90.00.. to make 10X your money silver would need to go to $450.00.

Then look at the likely move,, the current trend looks good for the market to go higher so selling is easy (plenty of buyers), like buying at $4.35 not to many people were interested making buying easy.

OK nuff said, I only wanted to offer some insight to trading often overlooked. Common sense. Anytime you can make 10 times your money it makes sense to at least consider it, and there are many other opportunities around that offer less risk with higher returns.

Tee it Up