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![drones](/data/avatars/s/118/118154.jpg?1500059770)
What scanning app do you use?
And how do you make the decision on what product into buy?
Do you just find something at a sale price and re sell it?
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repped.. I guess I have a lot more reading and learning to do. Someone was telling me about mutual funds, what do you think about that?i mean you can make money on any timeframe it really just comes down to your execution![]()
check out the intelligent investor by benjamin graham
technical analysis by brian shannon
william oneill's book how to make money in stocks
jesse livermore's how to trade stocks
if investing is your goal, i.e. you want to buy and hold for the long term, you need to learn how to read fundamental data and at least be familiar with technical analysis so you can pinpoint entries, warning signs, when to add and or exit a trade, etc.
one piece of advice i'd give, just wait for the market to crash before putting any serious bucks to work. get your feet wet with a small dollar amount, learn but save some powder for the crash. you always want to have cash handy.
come up with a plan that works for you. i personally am a day trader, i trade options and its what works for me. if i was looking to invest, i personally wouldnt risk more than .5-15% of my book on anyone stock. most positions would be around 5% of my book this way i can protect myself somewhat from losing my entire account due to black swan risk (i.e. waking up one day and seeing your company bankrupt like GTATQ).
also just know, unless we're coming off a stock market crash and prices across the board are depressed, a cheap stock is a cheap stock for a reason. something like AMD is under 3 bucks because it's a piece of ****. so dont get caught up in the whole oh that's cheap that's gotta be good value. you want stocks that will grow and have positive cashflows. and if you're into dividends which is cool, you dont want to have to worry too much about depreciation in stock price and potential dividend cuts (i.e. RIG). you want companies that have the cash handy to increase their dividends each year like KO and AAPL.
Go for it, brother.
It's truly a great experience.
I'll have to ask him again, but I believe it was Kaiser. I wasn't too familiar with the area.
-Drew
If it was Kaiser that's interesting, didn't know they paid that much always thought they gave garbage service every time I went there.
@throwback1718 bruh...you stole my side hustle except im gonna do it in GuyanaI'm saving cash to build up some apartments from scratch back home in Trinidad.
Next project after that is to buy an apartment building up here. By time I pay it off, I'll be almost ready to retire.
And then I'll just reap the income from Tennants from my multiple properties. And not worry about pension 457/401k all that.
nothing wrong with them if you dont have the time or desire to follow individual names. mutual funds, long as you find the right ones ran by very good money managers, are awesome.i mean you can make money on any timeframe it really just comes down to your execution![]()
check out the intelligent investor by benjamin graham
technical analysis by brian shannon
william oneill's book how to make money in stocks
jesse livermore's how to trade stocks
if investing is your goal, i.e. you want to buy and hold for the long term, you need to learn how to read fundamental data and at least be familiar with technical analysis so you can pinpoint entries, warning signs, when to add and or exit a trade, etc.
one piece of advice i'd give, just wait for the market to crash before putting any serious bucks to work. get your feet wet with a small dollar amount, learn but save some powder for the crash. you always want to have cash handy.
come up with a plan that works for you. i personally am a day trader, i trade options and its what works for me. if i was looking to invest, i personally wouldnt risk more than .5-15% of my book on anyone stock. most positions would be around 5% of my book this way i can protect myself somewhat from losing my entire account due to black swan risk (i.e. waking up one day and seeing your company bankrupt like GTATQ).
also just know, unless we're coming off a stock market crash and prices across the board are depressed, a cheap stock is a cheap stock for a reason. something like AMD is under 3 bucks because it's a piece of ****. so dont get caught up in the whole oh that's cheap that's gotta be good value. you want stocks that will grow and have positive cashflows. and if you're into dividends which is cool, you dont want to have to worry too much about depreciation in stock price and potential dividend cuts (i.e. RIG). you want companies that have the cash handy to increase their dividends each year like KO and AAPL.
repped.. I guess I have a lot more reading and learning to do. Someone was telling me about mutual funds, what do you think about that?
Why be embarrassed? To me, it's much better building your wealth and creating multiple cash flows.I use to be embarrassed because I haven't really started with my 401K (just turned 27 Saturday) and I know that there is good money in doing that but the more I hustle the more I feel like I can create my own stable streams of income that will be much more profitable than just trusting some random guys with my investment money etc.
Not saying I won't ever get the 401K etc but right now I'm giving myself that chance to build my own wealth.
It doesn't help that my company only matches 3% tho.
This true but that's why u buy low and invest minimal.... Even if a year later those programs change I've already made nearly 1/3 of my investment back...
Hood or not there are a lot of people looking to buy a recently updated crib for under 50K
That only works on smaller campuses...or community colleges...This true but that's why u buy low and invest minimal.... Even if a year later those programs change I've already made nearly 1/3 of my investment back...
Hood or not there are a lot of people looking to buy a recently updated crib for under 50K
Not sayin its a bad idea bruh
Just letting you know there are some risks involved with government funding stuff
For my college kids... Learn how to fix computers... Charge $40
Dudes watch and download the wrong types of porn...
And chicks will download anything...
Learn how to clean up and uninstall on the nonsense stuff people download ..
Charge a fee and profit...
Imagine fixing 4 computers a week...
...
My first shipment I paid for the merchandise, Amazon Pro Seller subscription fee ($40/mo) and Profit Bandit (scanning app, $10/mo) with a credit card. Once I got that initial investment back I paid that balance back on the credit card and now I'm using cash flow from the business itself.
Do you use your own money to pay for the products you find?
Anything man...toys, exercise equipment, coffee filters...what I'll say is that you should never assume you know what people wouldn't buy because you'll always be surprised by what is actually a hot seller. The scanning app will tell you what the item's sales rank is. Generally speaking an item with a sales rank of 50,000 or less is what you should start with because those will sell faster. Items with brand recognition are more likely to have a good profit margin.
thanks man, so what are the range of items you sell?
The app is called Profit Bandit, there's a few of them but that's my preferred one. Like I said above it costs $10/mo. You can get a free trial for like 50 scans, I think.@Drones
What scanning app do you use?
And how do you make the decision on what product into buy?
Do you just find something at a sale price and re sell it?
My first shipment I paid for the merchandise, Amazon Pro Seller subscription fee ($40/mo) and Profit Bandit (scanning app, $10/mo) with a credit card. Once I got that initial investment back I paid that balance back on the credit card and now I'm using cash flow from the business itself.
Anything man...toys, exercise equipment, coffee filters...what I'll say is that you should never assume you know what people wouldn't buy because you'll always be surprised by what is actually a hot seller. The scanning app will tell you what the item's sales rank is. Generally speaking an item with a sales rank of 50,000 or less is what you should start with because those will sell faster. Items with brand recognition are more likely to have a good profit margin.
The app is called Profit Bandit, there's a few of them but that's my preferred one. Like I said above it costs $10/mo. You can get a free trial for like 50 scans, I think.
I tend to scan items from brands that are well-known and established. Those tend to have higher sales rankings. But sometimes you scan a bunch of **** and nothing good comes up.it's just part of the game and you have to put your head down, and keep scanning. Generally speaking every 10-15 items I'll come up with something good, but it's all relative and sometimes you get lucky/unlucky.
Stuff on sale is usually a good move but there are some items that sell for higher than retail. A lot of people don't care that they're overpaying, they just want the item delivered to their door and don't mind spending the extra bread. Or they live in a place that doesn't have a lot of Targets or they only have one grocery store.
But generally speaking, items on clearance are an easier place to start because your options are narrower and you're more likely to get a decent margin.
Whats you guys opinion on FX trading as a side hustle?
the key to trading in general, as much as it sucks initially, is finding a reputable chatroom, subscribing to it, asking questions and studying your *** off to get good. for day trading i got my start with the Investors Underground community, learning their style, the charting they look for, how they play things. for options, i had to sign up to Keene On The Market and learn how that animal works, how to utilize options, etc. It sucks having to pay some of these fees, but in the long run, the knowledge you can gain is invaluable and it could potentially save you a lot more money in the long run.Whats you guys opinion on FX trading as a side hustle?
**** a side, I'm eventually going to make that a main hustle
if you know what you're doing, you can make a lot of money. I say find someone who is successful at it and pay them to teach you