My Favourite Investment
I started trading stocks when I was 12. I gave my dad my first “hot stock tip” suggesting he invest in Sony stock because “the new Playstation was supposed to be really good” 🤷♂️ He made $4k on the trade and opened an account for me with half the profit: $2k — lets go! 😎👌
My first trade, I lost half my money in AOL. I picked AOL because I “liked” the company .. I had quickly experienced the ups/downs of the stock market and learned not to invest on thoughts/feelings but rather concrete insight.
Needless to say, over the following years I multipled that $1k many times over (admittedly, mostly shadowing my father’s trades LOL).
By 15, I got into forex. I vividly remember trading in the library my first semester of university (yeah, I started my bachelors degree @ 15 .. that’s another story). EUR/USD and AUD/USD were good to start with, but I ended up focusing on XAG/USD and XAU/USD (silver and gold spot). I had some massive ups and massive downs, as the account was leveraged 50:1 or something like that — it was truly a roller coaster!
Most of my life, I had also observed my mother’s investments in real estate (decided property was too illiquid and slow for my taste) and my father’s investments in technology and other industries (fun, lucrative, but required effort).
In 2016, I ended up launching CarSwap which is a technology enterprise as a long-term investment vehicle (that pun though). The news called us “Tinder for Cars” and the app went viral. I never would have dreamed 80+ hour workweeks would be so much fun and Friday afternoons I would be more excited for Monday mornings than the weekend (sounds crazy, I know).
Lastly, I had dabbled in cryptocurrencies. My first buy was in 2015 when Bitcoin was around $300 and my last sell was 2017 when Bitcoin was around $3,000. I was skeptical about it going higher and had learned to “take profit” on the earlier side of the peak, rather than cashing out on the way down. I decided Ripple was the best to trade and had substantial unrealised profit at one point .. but admittedly got distracted running my business and didn’t cash out 📉 I ended up gifting my remaining crypto to my bestie Kane Ellis who is an avid crypto investor (he was mining 3 BTC a day in 2010 .. that’s why he drives a $400k Maserati) and obviously has a very keen eye for early opportunities (he invested into our CarSwap app and became the other primary co-founder).
The above is just to provide some background on my experience and where I’m coming from.
THE GOOD STUFF:
After 10+ years of experiencing most investment vehicles, I decided trading XAG/USD (silver against US dollar) was the simplest, most profitable, most liquid, most fun, etc.
Years ago, I had liquidated all my stock/forex accounts and invested everything I had into CarSwap 😁 1 month ago, I got bored on my Christmas trip and decided to open another account to throw a bit of money into silver.
I doubled my money in 3 of 3 consecutively profitable trades over 4 weeks and treated myself to a Gucci watch with a portion of the profits (funny enough, it took more taps to buy the watch on my phone, than taps to make the money to pay for it 💁♂️ how neat is that? lol).
A lot of friends asked me “how” so I decided to write this post so I could comprehensively answer multiple people efficiently. If you’re wondering how to get into it [AT YOUR OWN RISK, obviously];
1) research forex brokers who support trading silver and create an account [I picked OANDA because of low spreads and good interface .. there may be better brokers/platforms out there]
2) research the basics of forex & precious metals, then read this post again so it all makes sense [YouTube, articles, guides, etc — do NOT pay for “tutorials” or material]
3) invest a SMALL amount of money into XAG/USD which is currently at $16 USD flat as of this moment [eg between $100-$1,000, depending on your financial position .. do NOT use over 50% of margin available]
4) wait a few months/years, as it will go up and down over time [in my opinion, silver should exceed $30 USD within maybe 2 years — but your profits will basically multiply by your leverage, so instead of doubling your money, you’ll actually like 100x your money if you hold from $15 to $30]
5) cash out when you’re satisfied with profits [eg when silver hits $20USD if you’re impatient, or maybe >$30USD if you’re patient]
6) send me 10% of your profits [pretty fair right?? come on, I put in like an hour into writing this post lol 😅 even if you dont, just flick me an email in the ‘contact’ section to let me know you succeeded]
I’ll update this in a few months to see if I was right..