I never thought I'd be writing this anytime soon. Most of us stackers are used to seeing silver price languish or drop. With the exception of OG stackers, most of us haven't seen a major bull run in silver like we're seeing now. So what do you do when you want to sell?
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Most of us have heard the term Dollar Cost Averaging when it comes to buying. The idea is to buy steadily, so your average cost per ounce trends lower. When selling, the idea is similar. None of us can time the dips, so why would we think we can time the peaks?
I'm no financial expert, but it would seem prudent if you were to sell when we can see price continuing to rise, to do it incrementally. Instead of averaging costs for purchasing, average your profit when selling. I guess we'll need to either invent the term Dollar Profit Averaging, or if it already exists dust it off and start using it.
So, what does Dollar Profit Averaging look like? I suppose it all depends on what you think silver will do. If you think it's going to tank in the short-term, you may have set spot price increments you plan to sell at so you may not catch the peak, but you won't hold it all the way to the bottom. Others may have a more bullish outlook and think the price will continue to soar, so their target increments might be further apart. Regardless of which camp you're in, keep tabs on the market, be aware, and keep stacking.
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