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Newbie seeks new Porsche via day trading. See what happens.


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Newbie seeks new Porsche via day trading. See what happens.

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  #261 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

My trading is on hiatus for the time being. I've taken a new job which should pay better than anything I've done before but as of yet it hasn't paid me anything as I'm in the training phase. Thus, I'm in a cash burn situation and have to be ultimately conservative with my money at the present time.

I'll be back to trading AFTER I've established a good income from the new job and have managed to set aside 10K per account (minimum) for trading with a different broker.

I've put my remaining account balance into some of Vanguard's best performing mutuals for the time being.

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  #262 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

Well, it's been about a year since my last visit here.

The job I tried flat out didn't work for me. I ain't no insurance salesman! AFLAC was the "job" but after five weeks on the road busting hump, I had ONE customer to show for it. Or about 50 bucks.

Forget that noise. I haven't lifted a finger to try that since about March, and I never will again.

Some people are good at selling insurance. I'm not, and in part because rather than actually get the training I was promised, I got excuses, delays, lip service, and NO training.

I can say some unkind things about some insurance salesmen, too. But I won't. It's implied.

So I've fallen back on something I'm pretty decent at: Finding undervalued surplus electronics and reselling them
for good profit margins. Usually this stuff is pretty specialized and pretty expensive. I've made better money doing this than in any regular job I've ever had, and worked far fewer hours to do it.


The recent events in the stock market have caused me to watch with great interest. With the DJIA 50 day moving average crossing the 200 day moving average, which many say signifies the start of a bull market, I'm just going to sit back and watch and see what happens.

I've been tempted to take a short position against the DJIA.

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  #263 (permalink)
Philadelphia
 
Experience: None
Platform: corded black telephone
Trading: ticker tape
 
Posts: 2,893 since Apr 2012
Thanks: 1,683 given, 3,666 received



Carrerain4 View Post
Well, it's been about a year since my last visit here.

The job I tried flat out didn't work for me. I ain't no insurance salesman! AFLAC was the "job" but after five weeks on the road busting hump, I had ONE customer to show for it. Or about 50 bucks.

Forget that noise. I haven't lifted a finger to try that since about March, and I never will again.

Some people are good at selling insurance. I'm not, and in part because rather than actually get the training I was promised, I got excuses, delays, lip service, and NO training.

I can say some unkind things about some insurance salesmen, too. But I won't. It's implied.

So I've fallen back on something I'm pretty decent at: Finding undervalued surplus electronics and reselling them
for good profit margins. Usually this stuff is pretty specialized and pretty expensive. I've made better money doing this than in any regular job I've ever had, and worked far fewer hours to do it.


The recent events in the stock market have caused me to watch with great interest. With the DJIA 50 day moving average crossing the 200 day moving average, which many say signifies the start of a bull market, I'm just going to sit back and watch and see what happens.

I've been tempted to take a short position against the DJIA.

What surplus electronics are you talking about? give me an example. Where do you get them from and where do you sell them. Thank you, I appreciate the information, It seems like something I might be interested in too.

R.I.P. Joseph Bach (Itchymoku), 1987-2018.
Please visit this thread for more information.
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  #264 (permalink)
Melbourne FL, USA
 
 
Posts: 117 since Jul 2014
Thanks: 11 given, 49 received

This month, it's digital satellite receivers used in TV stations, not the consumer variety, and also, Inmarsat shipboard satellite telephone and data terminals, suitable for ships of any size.

I work with local companies that get surplus equipment and products from electronics manufacturers and service providers, and also with companies that are in the electronics recycling market.

Margins are 50 percent or more.

But...the high margin stuff requires product knowledge in order to maximize value. I test everything I sell. Including the marine satellite phone systems.

I also buy, refurbish, and resell Apple Mac computers as long as they're recent models, meaning, anything with Intel processors. Basically everything with an aluminum case rather than a plastic case.

I've done up to 12K in sales in one month. At 50 percent profit. But some months bring almost no money. It's highly variable but the average is pretty good and I've been able to do this on less than 20 hours a week. Sometimes WAY less.

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