Silver, potential gains

[mikeyj1993]

Does anyone follow and buy silver?
Looks like a substance that's ready to see its price explode. Currently rattling around £10.88 per Toz, and with many expecting it to go to around £500+ per Toz. It looks promising for anyone with a little bit of spare capital who could afford to sit on an asset for a few years.
It comes with an expectation that it won't be overnight, but for an investment now of £500 now. It could be potentially a rather successful investment.
If anyone has an interest in this subject, let me know it would be nice to talk to likeminded people! Or if people would like more information, I can bang on about it all night, so hit me up on here!!
Cheers,
Mike

[Fidget]

I know this is an old topic, but its an interesting one for me as a Stock, Forex and Commodity trader.

I have made a fair profit trading silver and gold. Gold has since seen a massive decline in price and I'm expecting it to continue.
Silver has recently made a decline as well and they are both quite volatile.

My current top pick is Palladium (a by-product of platinum) due to its automotive use in catalysts and due to the VW emissions scandal they will likely need a lot of it! Supply and demand means this will likely go up. (no guarantee's)

I usually buy and sell within a week or two, sometimes within a few hours.
I usually invest a fair amount otherwise the profit is not worth the risk, I consider my self a short/mid term trader when it comes to commodities.
If I'm confident in some profit I will usually place £5-8k on my investment.

I've seen people invest £500-£1000 to end up with either £20/30 profit or the more likely scenario a £500 to a complete loss.

Its important to set a Sell threshold for Profit and Loss, otherwise you could miss out on selling for big profit and it could save you from losing everything if the price crashes!

A lot of people go into this for fast cash, however your more likely to lose everything first.
If anyone is going to go into this, do your research, be careful, be responsible and for the love of god set those thresholds.
don't go placing your live savings into this, use spare capital and build up, something your not too concerned of losing, an investment is always a risk!