Silver-Investor.com - Save yourself 40 years of trial and error trading stock
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In this interview, I managed to speak with David Morgan of Silver-Invesor.com . David began trading around 15 years of age under the Uniform Gift to Minors Act and has been trading stocks ever since, which makes him speak from 40 years of pure trading experience. However he would like all readers of this interview to know that he is far from perfect but has had great success overall, learning almost all his mistakes the hard way– by losing money first. With such experience, this written interview is definitely worth your time to learn what would otherwise take 40 years to find out the hard way…
Question: Now clearly you’ve truly established yourself as an expert in stock trading on a global level, but there are probably many people on the call listening in thinking “Sure, that’s all well and good but how can a somebody like me get a break into this stuff and isn’t it a dangerous time to be getting involved in stock trading with all this recession talk?”, what would you say or what advice would you give to those people?
I have been very consistent here, I advise everyone to start with the real metal first before they ever put a penny into the resource stock sector. So, to start — get real, buy real. You begin a metals portfolio with real metal first.
Question: What made you decide to get involved in stock trading originally?
I was fascinated with money as a kid, the United States went off the silver standard when I was 11 years old and I could not understand how a zinc coated copper token could be equal to a 90% silver coin. That started the quest and I am still on the journey to teach and empower people to understand the benefits of an honest money system. I saw the opportunity to own part of a business through the stock market and began trading at an early age under the Uniform Gift to Minors Act which allows you to trade before reaching 18 years of age.
Question: And at that time, what would you say were your biggest challenges or things that worried you the most about your situation?
Not wanting to lose money, and how to gain an edge on the market. Also being around 15 years old when I first entered the stock market I felt age was a factor as well.
Question: What are the biggest mistakes you see people making when trying to trade or invest in stocks?
Not knowing themselves! If they can only accept a 10% loss then set a stop at that level. If they think they should be in a sector for the long term then stay with their plan. If they are wishy-washy then find out what personality flaw they have, because if they do not the market will exploit it.
Question: If you suddenly went back to square one overnight and lost all your money, what would you do differently than when you first attempted to trade and become financially free?
First, I don’t think I can lose ALL my money because I have real money, gold and silver and this is the only true money for 5000 years of human history. If I lost all of my stock market money, I would determine how it happened. Once I determined that fact I would change my trading in accordance with that principle.
Question: Many traders I speak to speak about how enjoyable it is to be a trader, in that it’s actually FUN. But from the outside, I imagine many people perceiving the stock trading world as a cut throat, aggressive business to be in. What are your thoughts on that and how can people make it fun, so to speak?
Like most things in life it depends upon your attitude! If you have a very serious attitude about life in general then it will carry over into your stock trading. If you approach life with an open and grateful attitude you can usually accept your mistakes and move on to be successful and have fun doing it.
Question: What are some of the most common questions you are asked about trading stocks, and could you provide some answers to these questions?
What is the correct ratio to hold in metals and mining stocks.
Unfortunately, there is no perfect answer because people vary so much. Some can accept a great deal of risk and others can barely tolerate any. Generally, I teach people should have at least ten percent devoted to the precious metals. For the past several years I have moved that up to 20%. This is roughly divided half and half between real metal and mining equities.
For example: If once had a net worth of 200K then 40K would be twenty percent. Ten thousand would be in gold and silver divided equally for someone 50 or older, and favoring silver if the person were younger. In the mining allocation is would be the ten thousand divided with $8000 in top tier, cash rich unhedged mining companies, and the other $2000 in speculative issues. This is a general outline, but it gives a clear idea of how I divide the risk to reward profile.
Question: I know that you deal with many trading techniques and your website Silver-Invesor.com offers a lot more advice, can you tell us a little more about what you offer over there?
We offer the basic newsletter, special reports, videos of some mining trips, audio files, alerts, updates, special discounts, reports on specific companies, white papers and other material that slips my mind presently.
Question: Finally, your website obviously deals with all of these issues and techniques in much more detail and is something people might wish to consider if they need a system to follow to become a successful stock trader…
This is all explained in the file “How to use the Morgan Report” when someone signs up to become part of the “members only” section of the website. There is far too much detail to cover that I could express here. We are all about providing information that comes from over 30 years in this sector.
…But could you explain to the listeners what specifically makes your services over at Silver-Invesor.com any different to the numerous other programs out there in the industry?
Yes, our mandate is to help people make as much money as safely as possible by providing proper research and favoring a better risk to reward allocation.
Question: And I presume you have some sort of guarantee for your product?
It is against the law to guarantee a financial product, but we do adhere to all the legal requirements of our service, full disclosure, if we own a stock or not. We also take and answer a great deal of questions from our members.
Question: And if people want more information, you have a newsletter that they can check out, what sort of content will they get from the newsletter?
They should go to this link and get a free sample, in the near future we are going to offer the complete package for free for a limited time. So be sure to go to Silver-Invesor.com often!
Make sure you check out David’s free newsletter right here:
http://www.silver-investor.com/joinfreelist.html
And to sign up for his Morgan report subscription, please visit:
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