i am planning to invest around $10,000 in silver futures. i dont have to pay commission. i plan on buying during a lull and selling when the price rises about $.30-.40. After this i will have made a very small profit on each ounce of silver but a large profit overall. enough to overcome the cost of the legal fees for trading like this. next, i will buy again when the price of silver drops at least $.30-$.40 and wait to sell when it rises again. following the process, over a period of about a year and a half making trades like this 1-3 times per week. my friend made a model of this and projected that i stand a good chance of tripling my assets over that year and a half. WHATS WRONG WITH THIS AND WHAT RISKS AM I TAKING? IN OTHER WORDS, WHAT CAN GO WRONG WITH THIS PLAN? INCLUDING THE $30-$50 GOVERNMENT TAX ON EACH SALE, WHAT OTHER COSTS AM I UNAWARE OF. this is important because if there are others, i might not make it over the "hump".
2007-01-16
12:20:02
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11 answers
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asked by
Anonymous