Set | Gold Coin Trades

Eagle Proof Gold

Trading Gold...This Precious Metal Will Continue to Shine

All Portfolios Should Contain a Percentage of Gold

Anyone who can afford to should own gold. There are many legal ways of having gold, however, it comes down to either physically possessing it, or owning shares on paper. Most experts agree that taking physical possession of gold is a good idea as a bet against inflation. There are two ways to own real physical gold, and most people who do, I feel are purchasing it in the wrong form. Gold bullion in the form of small bars or coins is the preferred method by most buyers. The reason why I feel it is a mistake to own gold in this manner is twofold. First of all gold is a commodity, and as such restricted by regulations of any commodity. The second reason has to do with history. In 1933 all but $100 of the non collectible gold was confiscated by the government when we went off the gold standard. With the world in its current financial turmoil there are many that believe that the inflation that will follow a recovery might force us back into a gold standard. If that happens anyone in possession of gold bullion will get a fair market price for it, and than it will be confiscated.

On the other hand, if you own, what is deemed as rare or collectible gold it cannot be confiscated. In fact this kind of asset is considered private, and is no ones’ business but yours. Yes you pay a premium for it, but in the long run it will be worth it. It doesn’t have to be old to be considered collectible. All proof bullion coins also fall into that category. Let us assume that at the turn of this century you purchased a one ounce American gold eagle and a one ounce eagle proof. Today your gold eagle, which you bought for approximately $350, is worth three times that much. While the proof that you paid approximately $500 for, is now valued at four or five times what you paid for it. For those of you looking into buying physical gold, you might want to consider this. It is my understanding that the U.S. mint has temporarily suspended the manufacturing of proof coins, but there are many dealers that still offer them.

For traders, there are many avenues to take when looking into trading gold. If you are looking for a day trade, the gold index seems to fluctuate enough, that with the right technical charting you should be able to make excellent profits on a daily basis. There are many goldmine stocks that, if charted correctly can be swing traded very successfully. I don’t do a lot of futures trading, but it seems to be that until gold breaks the thousand plus resistance, the future will be very much as it is in the present. Many experts see gold topping the two thousand per ounce mark, but so far there are no indications of that happening in the near future.

Good Charting Can Be Compared to a Treasure Map

There is Gold in Them Thar Technical’s
As I mentioned, precise technical charting is the key that will unlock that treasure chest of gold. In fact, it will greatly increase profits in any trading you pursue. Let us assume that you have some knowledge or you wouldn’t be researching the market. Any training you receive should be for technical analysis, or you are just wasting time and money. As far as software platforms, the following suggestions I strongly feel are necessary for any software to be useful.

1. It must be able to offer live streaming technical data. (Otherwise the program is merely educational)
2. The platform should defiantly include candlestick charting.
3. Visually it has to be large enough for all the data to be seen easily. (Many of the online brokerage’s technical data is too small to be useful)
4. It must be cost effective. (Most good systems can be purchased for between one and two hundred dollars)

Use a Candle to Light Your Golden Way

Candlestick Charting is a Goldmine of Wealth
For those of you not yet familiar with candlestick charting, I will try to give a brief but accurate explanation. The Chinese invented the market concept, and the Japanese perfected charting techniques with the use of the candlesticks. It is easy to understand this complex system, if we simply break it down to the ticks on the chart you follow every day. We know that the lower tick is where the stock opened and the higher is where it closed. Now if we made the two lines parallel and connected them, what would we have? A candle. However, during that movement, the stock might have gone lower or higher then where it opened or closed, so our candle has formed a tail and a wick. Is it starting to make a little sense to you? Can you see the advantage of knowing this information, for getting in and out, and setting a stop loss?

I don’t profess to being an expert, but I do know of some. I obviously don’t have the time to go into all the details now, but at my site Market Mentalist you will find all you need to know about investing online. There is access to some of the top trading systems available including software, books, newsletters, and Forums. Whether you are an inquisitive novice or a seasoned pro Market Mentalist offers the online investment resource, you just might be seeking.

About the Author

At 57, I consider myself to be a Jack Of All Trades And Master Of Nothing. I was a struggling actor for 25 years. During that time I learned a little about a lot of things, and would like to pass along some of that knowledge. I live in California with my beautiful wife and a menagerie of pets.

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