Making Money - Location independent
#61
quite interested in stocks, have a long background in similar ventures, problem is like someone else said all the info online is fluff and you dont know who to trust

some suggested reading materials (or podcasts/youtube videos better yet) that actually give good advice would be greatly appreciated

just started dabbling in investing, have no idea what im doing, but did wait for months to get the stocks wanted at the price wanted, got the patience part down..... now just need to know what the F to actually do lol
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#62
some people mentioned poker..... 15 years ago online poker was amazing, 10 years ago it was good, 5 years ago it was doable.......... now good luck to ya if you want to try, there isnt much dead money around at all so it will be hard to learn the game without losing a lot doing so, and even if you do get good you probably wont earn that much
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#63
I'm building a business around product development. I'm very familiar with a specific industry and I'm creating products to solve the problems that I've discovered that are in need of solutions.

Is anyone else involved on the on-going process of product development?

This could be anything: writing books, creating computer games or apps, other digital products, physical products, board games or whatever? If there are others involved in this, I'd be interested in creating a lounge thread or group so that we can discuss strategies and keep each other motivated by posting weekly updates.
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#64
lol at winning at online casinos (not talking poker)
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#65
Checkout crossover.com . They have remote jobs you can do literally from everywhere. Only they require you sometimes to work at least partly US hours. They reached out to me for a front end development job @ $100k a year. Had to do some tests which I all passed. Then I had this interview with some guy over skype but apparently I lacked experience in one important field. However, they reached out to me again this week with another offer so let's see.
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#66
(04-22-2017, 06:25 AM)fellowtraveler Wrote: Another trader here. Some solid advice on this thread (Traveltothemax, Sourstarfish), not gonna repeat too much methodology, but would back up most of what they said, and add some info.

Reality is, your chance of becoming a successful trader is pretty damn low (guessing over 90% of those who try will give up or go bust). I'm sure most confident guys will assume they are in the 10% (or maybe less) who will be successful trading, but trading success and personal confidence levels may be inversely related.

Now, if you are one of the few guys who can figure it all out, you'll have a really great life. Probably won't get rich as a solo day trader (though some may), you can easily be very comfortable, pulling the same income as professionals in various degreed fields, though you'll have a LOT more free time / less stress. I think the biggest perks: No one telling you what to do, No customers to please, Nothing to sell, No content to constantly create for your viewers. In essence, you won't need to depend on anyone else, in any capacity, for your living. It's a nice feeling. The only stressful things may be finding a reliable internet connection (if you're somewhere exotic.) and the trading hours can be pretty boring sometimes (you better like your own company) but fortunately they aren't long. That said, if you don't have/desire a very active life outside of trading hours, you'll become a hermit.

Now for some figures: if you know what you're doing and can do it CONSISTENTLY.. the following scenarios are very possible.

Day Trading US stock market
Time investment: 2-3 hours per day
Capital requirement: $25,000 minimum (recommended you start with 30K to have a buffer).

Day trading returns
Average - 5-10% average monthly return
Good - 15-20% average monthly return
Top Dog - 30-40% average monthly return

So if you're good (17.5% avg monthly return), and your stake is $30K, you can pull on average $5200 per month gross income ($63K USD per year). That will get you by pretty comfortably in most places, but not major US cities. Unless maybe you live on a budget and don't like to go out much.

Increase your trading stake to $50K and now you're pulling $8,700 per month, or $105K per year, all on just about 15 hours a week and from anywhere in the world with a fast internet connection. Note: this is not scalable, once your stake gets up to 80K or 100K, slippage and lack of market liquidity will start to eat up your monthly profits. I think depending on your strategy, you'll be ok up to an $80K stake, pulling $14K per month or $170K per year if you're good.

-------------------------

Swing trading US stock market

This is a bit harder to estimate as you're often holding positions for anywhere from a couple days to a several months (depending on the time frame you prefer to trade) while all day trades are closed out each day and profit/loss banked.

Time investment: 1 hour per day in US stock market
Capital requirement: No minimum (but recommended you start with at least 10K to have or else transaction costs will eat all of your profits).

Average - 3-5% average monthly return
Good - 7-10% average monthly return
Top Dog - 15-20% average monthly return

So if you're good (8% avg monthly return), and your stake is $10K, you can pull on average $800 per month gross income ($9600 USD per year).

Increase your trading stake to $50K and now you're pulling $4000 per month, or $48K per year, all on just about 5-8 hours a week and from anywhere in the world with internet access (speed doesn't matter). Note: swing trading is actually pretty scalable, increase your stake to $150K, and you're now pulling $12K or $144k per year, all on just 5-7 hours in a week. Not bad.

You can do both swing and day trading at the same time if you desire.. expect that to take about 25 hours per week.

I know some of you will doubt these figures. Not looking to convince anyone. Again, All of these figures are just for the 10% (or less) of guys who can figure out how to trade in the first place.

For me.. I'm good, but not a top dog. Anyways, hope this helps some guys who have the desire and patience to pursue a life of trading.

I enjoyed your analysis of trading in the market.  I've been investing for years.   It's easy to make money in a bull market and you start believing you're really smart.  When there is a market correction, you'll come to realize you are not as smart as you thought.    

The most important thing you said was "All of these figures are just for the 10% (or less) of guys who can figure out how to trade in the first place."

Yes 90% of the people can't do this.  Many can make some money in a bull market.   The more risk you take to get great rewards,  the higher the likelihood that you'll lose your money too.  It's like the get rich in real estate schemes.  Yes, a few do make a lot of money, but most don't.  It's like playing poker for a living.  A few are successful, but most aren't.  

I've gotten more conservative, I can prefer not to go for home runs, but to go for lots of singles.  That way I'll end up with money in the end to sustain my lifestyle.  

Best of luck to those great traders.  I'd wish I had your ability.
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#67
the problem with trading is no one who wants to try it out knows where to go for advice

all you hear is the same catch phrases thrown out over again, but an actual what to look for and how to process information is basically never shared
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#68
(04-22-2017, 03:46 AM)20Nation Wrote: So I started a code camp. I'm a bit in debt so planning to finish the code camp, create an awesome app, then try to get a job in Silicon Valley. The end game here is to be able to get sweet free lance projects in the future with connections I make. So i can make great money while being anywhere in the world. I'm learning html, javascript and jquery so far. Any advice from coders or guys who know this industry is welcome.

Coding is definitely a way to make first world income remotely, absolutely, 100%.  I learned to code and have been offered several remote gigs now.  I've turned them all down so far because I'm chill where I'm at, but once I move abroad I may consider it.

The issue with coding is the issue with most other jobs/skills, your reward for getting good at it is more work.  

Ideally you can get remote income that can be stable, while not requiring a solid wifi connection.  Real estate can do this, but you've got to own quite a bit, and so can simply having capital, but again, you have to have quite a bit.  To me, internet marketing seems to be the way to go, but there's a whole world of fields out there to explore and no one man can explore them all, we can each only experience a small slice of what's out there, then share with others if we're so inclined.
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#69
I'm getting close to having a finished product that I can start selling. I thought I was close in March and started showing some prototypes to potential buyers, but the feedback I got convinced me to expand the product features a bunch in order to satisfy the mandatory needs if my target customers.

I've been invested into doing that since the spring and am getting pretty close to completion. I've developed a number of strategies that have allowed me to speed up the work, such as creating compatibility with some third-party products, so that I don't have to create all the features myself (for the first minimum viable product iteration).

The marketability of the product is still unproven, so its a big risk to be putting hundreds of hours into working on this, but I strongly believe in its viability and am convinced that I'll be able to earn money from it one way or another.
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#70
(10-14-2018, 09:33 AM)Suits Wrote: I'm getting close to having a finished product that I can start selling. I thought I was close in March and started showing some prototypes to potential buyers, but the feedback I got convinced me to expand the product features a bunch in order to satisfy the mandatory needs if my target customers.

I've been invested into doing that since the spring and am getting pretty close to completion. I've developed a number of strategies that have allowed me to speed up the work, such as creating compatibility with some third-party products, so that I don't have to create all the features myself (for the first minimum viable product iteration).

The marketability of the product is still unproven, so its a big risk to be putting hundreds of hours into working on this, but I strongly believe in its viability and am convinced that I'll be able to earn money from it one way or another.


I’m guessing you’re selling an educational product to the Chinese market. What measures are you taking to make sure they just don’t copy and steal your product, and sell it themselves?
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#71
(10-14-2018, 08:27 PM)Vic Vega Wrote:
(10-14-2018, 09:33 AM)Suits Wrote: I'm getting close to having a finished product that I can start selling. I thought I was close in March and started showing some prototypes to potential buyers, but the feedback I got convinced me to expand the product features a bunch in order to satisfy the mandatory needs if my target customers.

I've been invested into doing that since the spring and am getting pretty close to completion. I've developed a number of strategies that have allowed me to speed up the work, such as creating compatibility with some third-party products, so that I don't have to create all the features myself (for the first minimum viable product iteration).

The marketability of the product is still unproven, so its a big risk to be putting hundreds of hours into working on this, but I strongly believe in its viability and am convinced that I'll be able to earn money from it one way or another.


I’m guessing you’re selling an educational product to the Chinese market. What measures are you taking to make sure they just don’t copy and steal your product, and sell it themselves?

That's been a concern of mine. I was originally planning to sell it as a digital product online, but due to some recent contemplation, I've realized that the smart strategy is to keep the digital originals securely locked up and only sell printed copies of all the product.

It would be extremely difficult for someone to create quality copies of the printed version of the product. It might be a comparable amount of work to creating a similar product from scratch.

My main advantage is that I know how to sell the product. I know how to find and connect with buyers.

This is a product that anyone with a knowledge of education, sufficient mental compacity and three years of free time could create, but no one has yet. And if they have, they suck at marketing. I'm not even finished and I was talking to a potential customer today and she was 100% ready to hand over her money as soon as I was able to put a finished product in her hands, because there are no other options out there that fill the area of need that my product will.

I think the real product here is not the physical creation itself, but rather the ability to find people who need it and explain to them why they need it. That's not something that can be easily copied. 


Additionally, I have a few other competitive advantages. Firstly, my status as a native speaker gives my product a certain credibility that a local cannot replicate. Secondly, I'm capable of providing effective training to supplement the physical product. That's added value that can not be easily replicable. Third, there's so much need for this type of product that I would welcome some competitors if they brought something new to the table. We'd probably all win if we co-operated with each other, because we would all be able to better serve each client's unique needs. Fourth and finally, part of the added value is customization options. It's outside of the range of reasonable expectations that someone could learn my product well enough to be able to customize it as effectively to specific clients' needs as efficiently as I can. I've spent years created it. I know it backwards and forwards. I'm not even sure if someone else could fully understand it (from a modification standpoint) unless I personally educated them.

Today was a good day. If I'm able to replicated the sales experience I had today 3-4 times, I'll be largely location independent within 4 months.
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#72
To be honest, it is very difficult to think about ways to make money when it is needed urgently. So I found a profitable solution in the network and got the money very quickly on the site http://www.huiput.fi/pikalaina/. This is the best way to find the amount you need in a very short time. You know, I am satisfied with the service and I can advise a lot.
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#73
It was so great when the cryptocurrency market was growing. Making money was a breeze and after the market nearly collapsed, I lost a lot and now I just spend what is left on monero gambling . Never will invest in something like crypto again...
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#74
(12-25-2018, 01:46 PM)Nagart Wrote: It was so great when the cryptocurrency market was growing. Making money was a breeze and after the market nearly collapsed, I lost a lot and now I just spend what is left on monero gambling . Never will invest in something like crypto again...

Yeah, there's way too much volatility in cryptocurrencies right now. Online gambling is clearly the sound alternative. I hear all the institutional investors are shifting their assets that way.
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#75
The persons belonging to IT are earning a lot of money. They can work remotely and it becomes so easy to work and travel.
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#76
me do tech systems infrastructure work ,similar to amzn devops but servers vmware ,which is not much remote work
any it guys doing fulltime remote ,what speciality if programing as thats more popular
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#77
Unfortunately I'm not good at making money, especially online. I have a small salary, so the money is often not enough. Recently I was able to get a profitable loan online in the company "zenith personal loans". I did not need to go to the office and carry a pack of documents. In my opinion, this is a convenient solution.
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