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Making Money - Location independent
#16
I have been trading for a living since 2002. It took 2 years to learn to become consistently profitable and during that time I lost a lot of money because I fell into the trap that most people do. Most people listen to other people but the problem is 95% of people lose money in the stock market. On top of this most people try to follow the stock alerts of so called "trading guru's". Unfortunately it's nearly impossible to following and alert and make consistently money. It takes time and a lot of effort to really understand what the stock market really is and how traders operate. Trading is about separating yourself from the herd and learning how to control your emotions and think independently, even under extreme pressure.

Trading is NOT easy or simple to learn, but if you are able to beat the steep learning curve, it's one of the most rewarding jobs on earth. I now work as an institutional trader and help manage $1.3 billion. I took this job working for someone else, after being self employed 10 years because I wanted to get some experience to start a hedge fund, but now I see I would much rather trade for myself than work for someone else. Live and learn...

Trading gives you freedom to work from anywhere in the world with an internet connection. I don't need ten's of millions of dollars to live in Asia which is what I was going for. Several million is more than enough to live really well there for 40 years. The disadvantages to day trading are that you have to sit behind a computer and you need a lot of money if you want to replace a full time salary. With that said anybody can start out paper trading. Think or swim has a free paper trading platform I believe although I would never use a regular retail broker like Ameritrade, Etrade, Scottrade, etc. if you are looking to take trading seriously.
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#17
How much do I need to start with? And since you don't recommend retail brokers. Who do you use?
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#18
To start I would say 10k  just to get an idea but to replace a salary I would say 150k. To actually day trade,  meaning go in an out of a stock an unlimited amount of times in a 24 hour period,  you need 25k but I wouldn't try ti dayvtrade with less than 35k since if your account drops under 25k you lose day trading ability. Also if under 25k you can only make 3  day trades per 5 days,  or unlimited overnight trades (called swing or position trades). This is only in the US.  If you are non US citizen you will not have this rule in general. Trading other types of assets like futures,  forex or options may not have the 25k minimum. 

Interactive brokers or speed trader are good brokers.  IB requires 10k to open an account. Speedtrader requires 25k.

I don't suggeat getting started with real money until you have a trading plan,  a trading system,  and you can make money using a paper trading platform.  Paper trading is not realistic but it's a neceasity in order to learn your trading software and get used a trading routine. Fear and greed shape every decision in the market.
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#19
(02-28-2017, 07:09 PM)Traveltothemax Wrote: To start I would say 10k  just to get an idea but to replace a salary I would say 150k. To actually day trade,  meaning go in an out of a stock an unlimited amount of times in a 24 hour period,  you need 25k but I wouldn't try ti dayvtrade with less than 35k since if your account drops under 25k you lose day trading ability. Also if under 25k you can only make 3  day trades per 5 days,  or unlimited overnight trades (called swing or position trades). This is only in the US.  If you are non US citizen you will not have this rule in general. Trading other types of assets like futures,  forex or options may not have the 25k minimum. 

Interactive brokers or speed trader are good brokers.  IB requires 10k to open an account. Speedtrader requires 25k.

I don't suggeat getting started with real money until you have a trading plan,  a trading system,  and you can make money using a paper trading platform.  Paper trading is not realistic but it's a neceasity in order to learn your trading software and get used a trading routine. Fear and greed shape every decision in the market.

Great advice traveltothemax and about something I hear very little about. +1 reputation for this advice.
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#20
skype language teachinig?
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#21
Im freelance on something like multimedia design. I work a lot in Buenos Aires, but this allows me to travel whenever I want.

also im starting to learn how to trade Bitcoin and altcoins. It's much more risky than stocks, but I think technology has a lot of potential. Its like internet in the 90's.

But you have to be really carefull... you can get hacked, stolen everything, scams... adding to have bad trades. Its so emotional sometimes. I've come from investing in regular bonds and stocks, but this is much more interesting to me.
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#22
I just finished writing my first ebook. To those who have already published on amazon: how did you convert your ebook to an amazon-friendly format? I wrote my book on Microsoft Word and just downloaded a software called Calibre that can convert PDFs to epub and mobi files. However, it completely fucks up my formatting. Line breaks are where they aren't supposed to be and after every major heading there are just 3 empty pages. Is it best to just outsource the process or is there anything I am missing?
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#23
Bateman it's a major process. If you are willing to spend many houra I would hire someone on upwork.
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#24
(03-13-2017, 11:04 PM)Bateman Wrote: I just finished writing my first ebook. To those who have already published on amazon: how did you convert your ebook to an amazon-friendly format? I wrote my book on Microsoft Word and just downloaded a software called Calibre that can convert PDFs to epub and mobi files. However, it completely fucks up my formatting. Line breaks are where they aren't supposed to be and after every major heading there are just 3 empty pages. Is it best to just outsource the process or is there anything I am missing?

What is the book about?
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#25
I've been location independent for about 6 months, making 3K teaching online. Its been great I can work from whenever I want with a good connection. Now I'm starting to think in buying a property and starting to generate other types of passive income.
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#26
(03-14-2017, 02:35 PM)Road_Less_Taken Wrote: I've been location independent for about 6 months, making 3K teaching online. Its been great I can work from whenever I want with a good connection. Now I'm starting to think in buying a property and starting to generate other types of passive income.

What do you teach?
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#27
(03-14-2017, 02:37 PM)Shaen Wrote:
(03-14-2017, 02:35 PM)Road_Less_Taken Wrote: I've been location independent for about 6 months, making 3K teaching online. Its been great I can work from whenever I want with a good connection. Now I'm starting to think in buying a property and starting to generate other types of passive income.

What do you teach?

English!
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#28
(03-14-2017, 02:32 PM)Shaen Wrote:
(03-13-2017, 11:04 PM)Bateman Wrote: I just finished writing my first ebook. To those who have already published on amazon: how did you convert your ebook to an amazon-friendly format? I wrote my book on Microsoft Word and just downloaded a software called Calibre that can convert PDFs to epub and mobi files. However, it completely fucks up my formatting. Line breaks are where they aren't supposed to be and after every major heading there are just 3 empty pages. Is it best to just outsource the process or is there anything I am missing?

What is the book about?

It's basically a guide book for Bangkok but from the perspective of somebody who actually lived there and without all the stupid shit nobody needs in a guide book. I just wanted to write an ebook to learn all the different things that are required to market it (setting up a blog with affiliate links, SEO, Social media marketing, facebook ads, amazon seller platform, setting up your own affiliate program) and Bangkok is probably the topic I know the most about. It took me less than 20 hours to write a 20,000 words book. I wish I could write that fast about other things.

Edit: I think e-books are a great way to learn online marketing because they have really good margins and very low production costs. I onyy spent 20$ so far on an ebook cover and a logo for my blog.
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#29
That is awesome! Do you have a blog already?
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#30
(03-14-2017, 05:26 PM)Shaen Wrote: That is awesome! Do you have a blog already?

Yes, but haven't started writing anything yet. And it is more like an information website with an integrated blog. I am not planning on writing blog posts about Bangkok for the rest of my life. I am just trying to rank as high as possible on Google so that people who search for certain key words will come to my website where I am also offering the ebook. Since I am not catering to the english speaking market, I think that it will be relatively easy to get a high ranking on google. The website which is currently ranking the highest for my main keyword is a badly designed website that doesn't even run on wordpress and offers outdated information.

Right now I am trying to finish up the book. All that is missing is to convert it into epub/mobi and set up an Amazon account. Then the next steps will be to improve the design, fill my website and blog with content and set up an account on Gumroad/e-junkie so that I can also sell it on my website in a PDF format. The last step will be to find affiliates (mostly travel bloggers) and try Facebook ads to increase sales. 

However, I still have no idea how many sales I will make. I don't even know if people are willing to pay for a digital guide book and if they are, why would they buy mine when they can get a Lonely Planet for less than 10$. But I am doing it for the experience and not for the money, so I can only win.
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