Trading: Is there an easier/ better way to make money?

[Priceman]

I had a PM conversation recently with a full-time trader who made me think about other ways of making a living. He shall remain nameless unless he offers the information up himself (and no, before you ask it wasn't Socrates )

He doesn't like what can happen to people who want desperately to become traders and end up ruined financially and have ruined their family life. It can be the downfall of a lot of things as it's a very phsychological game. That's if you let it get on top of your emotions. It ain't easy that's for sure as I'm sure you'd all agree.

Anyway that's the gist of the thread...Can anyone think of better, preferably legal :cheesy: ways of making a living other than trading?

It will be interesting to see if any of the professional traders offer their opinions; ie, would they chose a different path if they had the choice to jack it all in? Do any of the wannabe traders REALLY want to be full-time traders (retail or working for a firm?) or is it just the vehicle to wealth that attracts them?

Sorry there's not an outcome/ punchline/ moral to this thread just a discussion, so it could get majorly off track like others have done.

Looking for a clean fight; no kicking, biting, pulling hair. Ding ding round one!!

 

[A Dashing Blade]

Do any of the wannabe traders REALLY want to be full-time traders (retail or working for a firm?) or is it just the vehicle to wealth that attracts them?

One of my interview questions (serious) is . . .
"Why do you want to work in the City, and I'm looking for a 5 letter answer beginning with M".

If they can't get that right then they really are too stupid to work here.

 

[lloydsc]

Rich Dad/ Poor Dad

Hi All

I read this book about 3 years ago and it advocated earning money from mutiple streams, trading options was one of them and income from a virtual internet empire was another.

There are many people that achieve a very good income from building websites that target affiliate income and adsense income and once these sites are built you don't have to touch them again.

I have about 30 websites that generate roughly $120 per month and I aim to have about 600 in a years time which (I hope) will provide me with about £1500 per month.
I intend to add trading to this stream once I am good enough (i'm only paper trading at the moment) and then hopefully move into real estate.

So to answer your question, yes I think their are easier ways to earn money however they all need application, resource, know how, hard work and a little luck.

Regards
Steve

 

[jacinto]

Anyway that's the gist of the thread...Can anyone think of better, preferably legal :cheesy: ways of making a living other than trading?

you can always do it the old way.........marry a rich girl

j

 

[lloydsc]

J

LOL - I'm not sure that the wife would appreciate it!

Steve

 

[jacinto]

J

LOL - I'm not sure that the wife would appreciate it!

Steve

lol steve, guess not.......but then again you dont need to tell her

j

 

[brutusdog]

you can always do it the old way.........marry a rich girl

j

bringing on a whole new discussion, where does the beauty stop and the money start...

 

[jacinto]

bringing on a whole new discussion, where does the beauty stop and the money start...

brutus, you would need to shave a bit if you want to do that. :cheesy:

j

 

[brutusdog]

brutus, you would need to shave a bit if you want to do that. :cheesy:

j

your not wrong, either that or find a ape with plenty of bannana's...

 

[jacinto]

your not wrong, either that or find a ape with plenty of bannana's...

ROFLMAO

 

[brutusdog]

ROFLMAO

love that urban dictionary

 

[Trader333]

preferably legal

Only "preferably", so theft or fraud could be an option


Paul

 

[Hoggums]

Only "preferably", so theft or fraud could be an option


Paul

sell some organs, your body or your wife.

 

[fibonelli]

on the subject of organs, if you have a big one why not go into ...... business :idea:

 

[Profitaker]

Anyway that's the gist of the thread...Can anyone think of better, preferably legal :cheesy: ways of making a living other than trading?

Depends how you define "better". One thing I do know, successful trading doesn't require customers, and how many businesses can that be said of ? Freedom from whining customers has got to be worth alot.

 

[Hoggums]

Depends how you define "better". One thing I do know, successful trading doesn't require customers, and how many businesses can that be said of ? Freedom from whining customers has got to be worth alot.

I also don't think you are going to get an unbiased opinion in a trading forum. After all if we all thought we'd be better off running our own businesses then we probably wouldn't be here. We've already made the decision that trading could be best solution for us.

 

[JTrader]

Trading: Is there an easier/ better way to make money?

Looking at this question from another perspective -
There are few easier ways than trading to lose money :| .


But they do say you have to speculate to accumulate, and in any self-employment venture - away from the safety net of a monthly pay check, private pension plan, healthcare etc. (if you're lucky) - that people can have in a regular job, most self-employment ventures have a risk of loss - in order to make a profit, Whether it be a market fruit & veg stall, or a nightclub promoter etc.

If you take an example similar to fibonelli's - a lap dancer. On a good day they will make lots of money, on a BAD day they will not make any money.
For a trader, perhaps on a good day they will make lots of money, on an average day they will break even, on a BAD day, they will lose money.

 

[fibonelli]

Looking at this question from another perspective -
There are few easier ways than trading to lose money :| .

like what JT?

 

[JTrader]

like what JT?

Exactly, i can't think of many, besides flushing £notes down the toilet, giving it away in the street, throwing bundles of notes out of the window etc.!

 

[jacinto]

Exactly, i can't think of many, besides flushing £notes down the toilet, giving it away in the street, throwing bundles of notes out of the window etc.!

one is to go to a strip club and pay lapdancers.