What can a trader do as a secondary job to supplement income.

Discussion in 'Professional Trading' started by 50cent, May 10, 2008.

  1. monti1a

    monti1a

    #11     May 10, 2008
  2. You can always start a small business on the side. Something online, or a small retail store. I find being a trader to be entrepreneurial, so I wouldn't suggest giving up your freedom to work for someone. Work for yourself whatever option you choose.
     
    #12     May 10, 2008

  3. That will NOT supplement income
     
    #13     May 10, 2008
  4. AAA30

    AAA30

    Starting a small biz or franchise is a good idea. Then joining some local organizations for contacts and a larger social network. You might find it very difficult to work as an employee after years of trading and only answering to yourself. Finding or developing different trading strategies is also possible but that may not aid you in building a bigger group of contacts if that is your major aim.
     
    #14     May 10, 2008
  5. I would suggest real estate.

    Renting and owning properties is a great way to build wealth.

    With the time that you have to do it it should work out well.

    Plus there are many tax advantages to owning real estate.

    I would also strongly recommend getting a real estate license which will teach you a lot about the game.

    You can set your own hours and should compliment what your doing now.

    Just remember its not a get rich way to make money like you see on TV. You need to be highly selective and take your time.

    Best to you

    Bob
     
    #15     May 10, 2008
  6. amitman

    amitman

    I'd really suggest opening a small business of something you love. I for example opened a little home-recording studio, and I knew this trader once who opened a little book shop, opening a business is a good way to invest your time + you might actually be very succsessful in the long term.
     
    #16     May 10, 2008
  7. Cultivate marijuana or ponzi scheme.
     
    #17     May 10, 2008
  8. I'll give you a revelation few will.

    Your current situation will not last. Mark my words. It will not last. Been there, done that and seen it.

    So put the extra time into a new venture or expand your trading. Most important is that you like whatever you are doing. It is actually a good idea to supplement income if you have the time. Ideally, your trading income will be free and clear of living expenses.
     
    #18     May 10, 2008
  9. Mvic

    Mvic

    Be a master franchiser or find very good hardworking smart trustworthy stable people who are underemployed and mentorable and give them a chance in life by setting them up in a franchise. I have a few over the years, a great source of satisfaction and a win win for all concerned.
     
    #19     May 10, 2008
  10. Cheese

    Cheese

    That there is a niche, that there is a so-called 'edge', that there is a speciality, that there is something where you don't have to be sharpest tool in the toolbox, are often central to the hopes of those attempting to survive in trading. Unfortunately there is only victory and defeat. Anything less than victory is an eventual journey back to defeat. So the boastful and hopeful, alike, are joined together in a march to the dark side - the abyss of disappointment and failure

    Does this have to be so. Yes. It is evolutionary. The many shall stumble but only a few will prove to be the fittest. The prize takers. The winners. So why are you trying? Because you want to be in the race. Because until you are out of the race, you are still the hero of your dreams.

    So can you do something else because you've reached the limit of your journey in trading? Sure you can. Remember, though, anything less than victory - making your fortune from the markets - anything less and you are always on a journey backwards.
    :)
     
    #20     May 10, 2008