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The Really Useless Thread

  • #75,621
  • Apr 15, 2012 1:43pm Apr 15, 2012 1:43pm
Quoting wannaberich
(have just been for the last couple of hours a one legged worker on the greenhouse. back now.) u didn't know i lost my job? i thought i told that to the whole world. yup, thought i'd be a pro trader. then i woke up. so i'm still figuring out what i'll be doing for a living.
damn...
  • #75,622
  • Apr 15, 2012 1:46pm Apr 15, 2012 1:46pm
Quoting Rolland
What kind of passive income source would make the most sense after eliminating student and other debt, and properly funding my trading account?

A portfolio of high yielding assets?
--It would take a long time to build enough to have reasonable income

Rental property?
Small business?
--With these I feel there are substantially more risks and headaches, however you could conceivably be free-er working for yourself (which is the goal anyway)

Just compound trading account while managing BS job and misc other BS?
--Seems the most feasible

Anyone...
are we talking about creating, preserving or increasing wealth?
Don't be a hero. Don't have an ego. Always question yourself
  • #75,623
  • Apr 15, 2012 1:57pm Apr 15, 2012 1:57pm
life's a bitch, right? let screw her

truth is, i just need a couple of adjustments on my trading and i'll be living my dream pretty soon

Quoting pkimnyc
damn...
dreams do come true.
  • #75,624
  • Apr 15, 2012 1:58pm Apr 15, 2012 1:58pm
Quoting Venice
I was thinking of purchasing rental property then paying a company to manage it. Less income but the company takes care of everything... you just provide the property.
No V...it aint that simple....Ive owned several rentals....Ive had prop managers b4...it just makes it worse....they are the stupidest people on the planet.....well, besides realtors.....

I say the Redneck retirement plan is still the best....."Powerball"
  • #75,625
  • Apr 15, 2012 2:00pm Apr 15, 2012 2:00pm
Quoting wannaberich
life's a bitch, right? let screw her

truth is, i just need a couple of adjustments on my trading and i'll be living my dream pretty soon
its pretty tough when you're depending your income source off of fx profits.
can't really build up your assets since you gotta pay the bills with it.
  • #75,626
  • Apr 15, 2012 2:01pm Apr 15, 2012 2:01pm
Quoting gatorinla
still valid from friday.. voids over 3086.. an open below Fridays low is a stronger bear. 3067 was expected. this, then a bounce is a nice bear setup on a bull bounce. 3121/22 is a place to look..
3121 fo sho....thing is....watch 20 30 40 pip retraces....we may have a scenario brewing where those may be the most retraces....might be a lot of peeps gettin knifed this week...
  • #75,627
  • Apr 15, 2012 2:03pm Apr 15, 2012 2:03pm
Quoting pkimnyc
its pretty tough when you're depending your income source off of fx profits.
can't really build up your assets since you gotta pay the bills with it.
154 dollars a day is 40K a year....tsk tsk
  • #75,628
  • Apr 15, 2012 2:04pm Apr 15, 2012 2:04pm
Quoting USD-Bear
are we talking about creating, preserving or increasing wealth?
Debt elimination and the construction of passive income as a safety net for an independent trading career.
  • #75,629
  • Apr 15, 2012 2:04pm Apr 15, 2012 2:04pm
that's not my problem, P. i got enough to pay the bills for the next couple of years, doing nothing.

real problem is trading man... well, not really trading too. it amazes me that my forks work every fucking day and still i screw up. well, i can't really say every fucking day but i guess they do work at least 90% of the time.

overleveraging and banking smaller runs are my ghosts... i'll sort them out. eventually.

Quoting pkimnyc
its pretty tough when you're depending your income source off of fx profits.
can't really build up your assets since you gotta pay the bills with it.
dreams do come true.
  • #75,630
  • Apr 15, 2012 2:04pm Apr 15, 2012 2:04pm
Quoting needpips
No V...it aint that simple....Ive owned several rentals....Ive had prop managers b4...it just makes it worse....they are the stupidest people on the planet.....well, besides realtors.....

I say the Redneck retirement plan is still the best....."Powerball"
Yeah. I would definitley be very stingy in who i let manage my properties.
  • #75,631
  • Apr 15, 2012 2:06pm Apr 15, 2012 2:06pm
Quoting Venice
Yeah. I would definitley be very stingy in who i let manage my properties.
in my exp....doesnt matter....if u want anything done right...do it yourself....
  • #75,632
  • Apr 15, 2012 2:06pm Apr 15, 2012 2:06pm
Quoting Venice
I was thinking of purchasing rental property then paying a company to manage it. Less income but the company takes care of everything... you just provide the property.
It does sound lovely. I'd believe there are tax advantages to living in one of the apartments in a small rental property also.

Don't tell the other tenants lol
  • #75,633
  • Apr 15, 2012 2:08pm Apr 15, 2012 2:08pm
Quoting Rolland
It does sound lovely. I'd believe there are tax advantages to living in one of the apartments in a small rental property also.

Don't tell the other tenants lol
no there are not....the only way that helps is if your tenant (s) pay your rent / note

ex.. Duplex......rents for 1200...and your note is 1100....get it...
  • #75,634
  • Apr 15, 2012 2:09pm Apr 15, 2012 2:09pm
Quoting pkimnyc
make money with fx, if you're not living off of the profits. depending on your age, for younger people, i would think building high yield portfolio using profits from fx will do the job.
I'm 24 with limited student debt.

Maybe find a good balance point regarding acct size vs. withdrawals to put into a HY portfolio would be the next logical step.

For example, maybe once X% monthly return is equal to $Y, then withdraw Z% from profits for deposit into high yielding portfolio?
  • #75,635
  • Apr 15, 2012 2:11pm Apr 15, 2012 2:11pm
Quoting needpips
no there are not....the only way that helps is if your tenant (s) pay your rent / note

ex.. Duplex......rents for 1200...and your note is 1100....get it...
Makes sense, frees up a big personal expense while you build equity in the property you could leverage into maybe another one?
  • #75,636
  • Apr 15, 2012 2:11pm Apr 15, 2012 2:11pm
Quoting needpips
No V...it aint that simple....Ive owned several rentals....Ive had prop managers b4...it just makes it worse....they are the stupidest people on the planet.....well, besides realtors.....

I say the Redneck retirement plan is still the best....."Powerball"
Agree! Been there done that too.. What a waste of money hiring those morons, they compound the prob's when they happen, cuz they will...

I haven't had much success with the power ball or the lotto yet. But , Publishers Clearing House looks promissing...Although, I'm not an Illegal citizen, hummmmmmmmm,I feel I still have a chance... There is quite alot a paperwork, and is quite a pain though...
  • #75,637
  • Apr 15, 2012 2:11pm Apr 15, 2012 2:11pm
what do u mean by high yielding portfolio, R?

Quoting Rolland
I'm 24 with limited student debt.

Maybe find a good balance point regarding acct size vs. withdrawals to put into a HY portfolio would be the next logical step.

For example, maybe once X% monthly return is equal to $Y, then withdraw Z% from profits for deposit into high yielding portfolio?
dreams do come true.
  • #75,638
  • Apr 15, 2012 2:12pm Apr 15, 2012 2:12pm
Quoting needpips
no there are not....the only way that helps is if your tenant (s) pay your rent / note

ex.. Duplex......rents for 1200...and your note is 1100....get it...
Its that bad huh? I definitely need more income than just trading. I dont trust the markets to always play nice with me.
  • #75,639
  • Apr 15, 2012 2:14pm Apr 15, 2012 2:14pm
Quoting Rolland
I'm 24 with limited student debt.

Maybe find a good balance point regarding acct size vs. withdrawals to put into a HY portfolio would be the next logical step.

For example, maybe once X% monthly return is equal to $Y, then withdraw Z% from profits for deposit into high yielding portfolio?
there are high yield stuff that pays 7-8% div per year. those are nice holdings you might wanna think about building. you can do the math.
  • #75,640
  • Apr 15, 2012 2:15pm Apr 15, 2012 2:15pm
i definitely need income from trading

sick of paying u guys...

Quoting Venice
Its that bad huh? I definitely need more income than just trading. I dont trust the markets to always play nice with me.
dreams do come true.
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