My Recent Gold Investment Experience: Lessons Learned
I’ve been holding some gold coins for a while now, and recently, the price surged to an all-time high.
I had previously bought some real gold coins from a bank at a pretty high price. Honestly, it wasn’t the most well-thought-out plan. I was just starting my investment journey, and buying those coins was my first step into the investment world.
When I held those coins in my hand, I couldn’t help but wonder if I had made a mistake paying such a high price for them. But, I had already prepared myself to lose 100% of the investment if need be. So, I just let it be.
As the gold price kept going up, I started keeping an eye on it. When it hit 650 RMB per gram, I sold them and got a 10% return.
For anyone who knows a bit about investing, a 10% return is pretty good. Here are a few things I think I did right and some lessons I learned from the experience.
What I Did Right:
- Calculated Risk-Taking: Before making the purchase, I always asked myself, “If you were to lose 100% of the cash, could you handle it?” If the answer was yes, I went ahead. I never took risks I couldn’t bear or used leverage beyond my capacity.
- Being Reasonable and Not Greedy: When I saw the gold price going up, I didn’t think…
