I will make a £1000 before christmas, will you?

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gnr2206

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Hello T2W members,

I'm an economics and finance student with an interest in trading, like all of them i suppose. To make money I, sell phones on ebay for a 20%. I go onto local ad sites (like online equivalent's craigslist) as i find phones, usually iPhone 4s etc; go for a lot less than ebay; the reason being there are less.

I have done no training, no study but I am track to make £1000 before christmas.

The ultimate goal of a trader is to make money. Is the work required to make it as a trader really worth it as you will lose money; my chance of losing money is less.

I realise I will never make millions as top traders do but i will not lose alot also!

your thoughts. . . ..
 
Hello gnr, what can i tell you?.
Since you have no training your chances to lose money are high, so high in my opinion.
A lot of people here in in the economics and finance fields, some of them have tons of experience, anyway a lot of them lose money.
it doesnt take only to be brilliant and to have the will to make something in in our lives to make money here. Basically everyone you can find here will be brilliant, will have the will to make something and something different with his life.
I dont want to be a claimer of disgrace (i am sorry maybe it was not correctly expressed, in spanish it would be "agorero de la desgracia"), but your chances to lose money are very high, you can make money here but it takes a lot of work, study, discipline and steel nerves. I am sure you have everything but you have to work it out.
Anyway, good luck.
 
In case anyone doesn't get my point, it is this:

Would you not be better off taking the capital you have, say £1000, and set up a online business or something, which can generate as much profit but with less risk.

??
 
^ That would be the better idea if you have no trading experience, yes.

If you just want to do a fun $1000 gamble for the heck of it, then go ahead, but understand the risks.
 
gnr2206 said:
In case anyone doesn't get my point, it is this:

Would you not be better off taking the capital you have, say £1000, and set up a online business or something, which can generate as much profit but with less risk.

??
Click to expand...

Set up an online business like you say. Forget about trading.
 
gnr2206 said:
In case anyone doesn't get my point, it is this:

Would you not be better off taking the capital you have, say £1000, and set up a online business or something, which can generate as much profit but with less risk.

??
Click to expand...

There's a punchline in there somewhere I think.

If you know nothing about trading and nothing about an online business then how are the risks not comparable?

Your logic is flawed. You already have a profitable online ebay business but know nothing about trading so naturally YOUR risk is less with your business than with trading. You can't then apply that to anyone who is already profitable trading but has no online business experience. By using your situation as an example you are comparing apples to oranges.

Peter
 
I have made more than that this autumn and will be taking it out for Christmas. Will I make another thousand? How do I know? I don't even know what is going to happen tomorrow and am sceptical of anyone who says he does.

One thing I do know, though. I am careful enough to know that I am not going to lose any fortunes, either.

Although, on second thoughts, I know that I am old enough to should have seen it all but.......have I seen it all? :)

There's no fool like an old fool. :D
 
VielGeld said:
^ That would be the better idea if you have no trading experience, yes.

If you just want to do a fun $1000 gamble for the heck of it, then go ahead, but understand the risks.
Click to expand...

I have a fearful respect for anything online. I would not know how to set a site up. I have never spent money online and keep away from E-Bay, Paypal, etc. Even a respected, but nebulous site, like T2W, is never likely to sell me anything unless it can give me an address where I could send money, without me using a Visa number. I never use those, either. My wife keeps one for car hire and travel tickets.

SB companies are, at least, available on the phone. There is something tangible about them.

I am sure that I am losing a lot but that is the way I am. An internet paranoid! I trust no one. How the hell would I sell anything online and get paid for it?
 
Last edited:
Splitlink said:
How the hell would I sell anything online and get paid for it?
Click to expand...

You do sell stocks online? or futures or whatever it is you are trading, right??

Just wanted to point that out because I felt like being an **** :smart:

Peter
 
gnr2206 said:
Hello T2W members,

I'm an economics and finance student with an interest in trading, like all of them i suppose. To make money I, sell phones on ebay for a 20%. I go onto local ad sites (like online equivalent's craigslist) as i find phones, usually iPhone 4s etc; go for a lot less than ebay; the reason being there are less.

I have done no training, no study but I am track to make £1000 before christmas.

The ultimate goal of a trader is to make money. Is the work required to make it as a trader really worth it as you will lose money; my chance of losing money is less.

I realise I will never make millions as top traders do but i will not lose alot also!

your thoughts. . . ..
Click to expand...

With respect its not god given that will make money trading phones. In the example you give your profiting from the gap between where you buy and sell but youre not exempt from risk.

When you buy:-
being robbed
buying stolen
seller reporting the phone stolen after the sale etc
unoticed fault.

When you sell:-
paypal charge backs
being robbed
unforeseen shock to supply and demand (shock news about a phone company of a phone you stock etc)

All is risk awareness / management imo.

Btw, you being and economics student. Have you found out where money comes from yet?
 
Hi Peter,
There you go! I'll tell you more. I do not bank online. All done by cheques and old fashioned mail. My broker has my trust and I buy and sell all shares through his site and by telephone but he never sends money to anywhere, except the bank account registered with him.

I trust very little, believe me and that is why I find it so unbelievable, the way people are scammed out of their money, by unknown people.
 
Last edited:
Most people I know who had eBay businesses that were, in the past, thriving and profitable, have now closed them down. This is because eBay has made so many changes to costs incurred by sellers that it has become almost impossible to make a decent living out of it. It is a great pity as it was once a fantastic mechanism for business but one by one entire industry groups are no longer seen in any numbers any more. If this caries on we could see that T-shirts and sunglasses sellers will be the only ones left in any volume.

What is needed is someone like Google to set up a rival to them and then things would improve in my view.


Paul
 
gnr2206 said:
In case anyone doesn't get my point, it is this:

Would you not be better off taking the capital you have, say £1000, and set up a online business or something, which can generate as much profit but with less risk.

??
Click to expand...

If it's making money then keep doing it. You can learn a bit about trading on demo accounts before risking any money. You're more likely to lose 1000 before xmas rather than gain it trading.

As for the general question, it depends on what you want in your life. For me, I want something that can pay the bills, and have a bit left over, that has potential to increase my earnings in time, and that I enjoy. Any job that can give you those things in the long run is just fine as a career.

You're right that you stand a better chance with the online business, but if all you are ever going to make a month is around 1000 a month then it's probably not that great for the long run, and you woudl do better working for a company with this as a sideline
 
Splitlink said:
Do you know something that we don't? That was a negative statement if you do trade.
Click to expand...

:LOL: no, sadly, I'm not one of the "all is known in advance" crowd.

I hit my annual targets last week, so that's it for 2011 !

I'm going to spend the rest of the year trying to blow a demo account, apperantly its some sort of right of passage to becoming a great trader.
 
the hare said:
:LOL: no, sadly, I'm not one of the "all is known in advance" crowd.

I hit my annual targets last week, so that's it for 2011 !

I'm going to spend the rest of the year trying to blow a demo account, apperantly its some sort of right of passage to becoming a great trader.
Click to expand...

You don't know what you're missing until you've blown a few demo accounts!
Ahhh, the good(?) 'ole days when DEMO was king and money meant nothing :LOL:

Peter
 
darktone said:
With respect its not god given that will make money trading phones. In the example you give your profiting from the gap between where you buy and sell but youre not exempt from risk.

When you buy:-
being robbed
buying stolen
seller reporting the phone stolen after the sale etc
unoticed fault.

When you sell:-
paypal charge backs
being robbed
unforeseen shock to supply and demand (shock news about a phone company of a phone you stock etc)

All is risk awareness / management imo.

Btw, you being and economics student. Have you found out where money comes from yet?
Click to expand...

all of the above points are valid! but atleast im able to know the set market price for an iphone 4 as there are less factors affecting it than say a currency. i know that the average iphone goes for anywhere around 360-400 euro second hand so i know if i can pick up the phone at any price lower than that then its a profit!

from an economic point of view, im talking about the opportunity costs incurred. i can take my 400 euro/pound capital and put it into a trading account. i can train for the rest of the month and hope to make a profit or i can take my capital and buy phones and grow my capital up.

whatever my risks are, they are alot less than a n00b trading EUR/GBP

agreed?
 
gnr2206 said:
all of the above points are valid! but atleast im able to know the set market price for an iphone 4 as there are less factors affecting it than say a currency. i know that the average iphone goes for anywhere around 360-400 euro second hand so i know if i can pick up the phone at any price lower than that then its a profit!

from an economic point of view, im talking about the opportunity costs incurred. i can take my 400 euro/pound capital and put it into a trading account. i can train for the rest of the month and hope to make a profit or i can take my capital and buy phones and grow my capital up.

whatever my risks are, they are alot less than a n00b trading EUR/GBP

agreed?
Click to expand...

Agreed in most part. I would say that profit potential in the S/H phones is limited, If you are one of the few your profit potential in trading is unlimted (within reason).
You could trade sim, will teach you the technical and managment side of things. If it goes well you can trade real money real small, that will teach you the emotional side, which is around 80% imo.
Are you sure you want to trade?

Am serious about "where does money come from?" Have you covered it yet?
 
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