I took my profits at the top and called Monex
and have purchased 3 lots of Canadian Maple Leafs
in the last few days. Two around $1020 per coin
and this one at $986 per coin, times 10 coins per lot.
I am buying on margin to lock in the price now and
will pay them off later with more futures profits or
net down some of the appreciated coins (not a preferred
choice, but one that can be considered in a pinch).
I WANT THE COINS, not the paper money!
I trust that Monex is setting my coins aside (they send
you a receipt for the physical transfer of the coins to a
depository) and will be able to deliver them later when
paid in full. This allows me to lock in the coins now, and
still have use of my funds to trade futures and make more
money for more coins and to pay them off.
Unless you are damn good at trading futures, don't try
this method! Just buy the coins CASH and take delivery.
