| So you have decided to go ahead and make the | | | | get a feel for what is typical, how far up or down a |
| jump, and finally invest in some precious metals. | | | | specific trend may take your stock or commodity. |
| Investing in gold or silver, or even platinum for that | | | | Try to focus on one strategy at a time, rather than |
| matter is not the same as investing in stocks. How | | | | learn it all at once. Know your numbers inside and out, |
| do you decide what type of investment you want to | | | | research is the key! |
| purchase? Here are a few options to help you decide. | | | | Trying your hand at gold stocks? Online brokerage |
| The first question you have to ask yourself is are | | | | accounts make it fast and easy these days, and |
| going to invest for the long-term, or are you more | | | | they have ways to do all your research too. Most |
| of a short-term trader? There is a huge difference, | | | | even have simulated trading that can help you get |
| and the way you approach this will determine your | | | | started, practicing with "play" money until you're |
| actions: either a fundamental approach, or a technical | | | | ready to go. |
| analysis approach. Know the risks going into both, and | | | | How about futures? If you have a future in futures, |
| you will be ahead of the game. | | | | then be ready for some serious risk. Along with great |
| So first of all, do you know how much capital you | | | | risk, however, comes the greatest chances for |
| have to invest, or how much you are comfortable in | | | | profits. Just be sure to spread your risk out a bit, |
| taking a risk with? Once you figure that out, get a | | | | and hedge your risks as best you can. |
| serious plan together and do the following: | | | | Options are also one of the better ways to make |
| 1. Find out your outlook - bearish, bullish, or neutral? | | | | profits and take advantage of volatility in the market. |
| 2. What specific asset will you focus on - stocks, | | | | The best thing about options is you can limit your |
| options, futures, commodities only? | | | | risk, and you can do options based on stocks, ETS's |
| 3. When will you enter a trade - figure out what | | | | or even futures contracts. |
| technical indicators you will look for. | | | | These are just a few of the ways to start out |
| 4. How long will stick to your position - set a price | | | | making money in precious metals, and with some |
| when you need to get out, either to stop a loss or | | | | practice and a little experience you will be able to |
| take your profits. | | | | figure out some more in no time. Do your research |
| One of the best ways to get familiar with a particular | | | | and hedge your trades, limit your losses and know |
| trading strategy is to observe it for awhile, take | | | | when to cash in! |
| some time to learn the ups and downs. This way you | | | | |