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It's just a matter to find what works for you!

Discussion in 'Making Money' started by businessdad, Jun 29, 2012.

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  1. businessdad

    businessdad Newbie

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    Inspired by the many "journey" threads I saw on the forum, I was tempted to open my own. However, I looked back at my income history and I decided not to waste bytes for nothing, as my report would have looked like this 99% of the time:

    • AdSense: $0
    • CPA: $0
    • Ebook: $0 (this is a pity, as I wrote the ebook from scratch, no rehash)
    • ******: $0

    Not bad for almost two years of attempts. Not bad at all, in fact it's much worse than bad! However, exactly 11 days ago I tried something completely different from all the above (financial trading) and, maybe due to pure luck, or maybe not, my profit so far has been precisely $41858.10 (weird number, as I trade in Euro). It's true that this kind of activity bears a high risk of losing all you have (and more), but, personally, I find myself much more comfortable with it than with the tons of "coloured hat" techniques needed to trick people into buying something. Since I hate words such as "twist", because I really have no idea, nor interest in wasting my creativity for marketing purposes, I moved on to something I like better, and the results are clearly visible.

    At the end of the day, it's a matter of finding what you can do best and focus, focus, focus. If you fail, review your mistakes. If you really don't care about them, do yourself a favour and find something else you actually like to do. Money alone is not enough as a motivator, and it's never enough to repay you for the stress of doing something you don't like or, worse, don't care about.

    Good luck to you all! :)
     
    • Thanks Thanks x 4
  2. bullseye123

    bullseye123 Regular Member

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    Wise Words !!
     
  3. WorkHardL0veLife

    WorkHardL0veLife Regular Member

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    Wow congrats on your success! That kind of profit in 11 days is insane :eek:
     
  4. businessdad

    businessdad Newbie

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    Yes, however, it's not "constant and smooth", you can easily earn $40k one day and lose $10k the next day. One has to keep an eye on the market to get the "feeling" of what will happen. I'm not an experienced trader, my background is completely different and I just gave it a shot. I focused trading on a single item and based my decisions on national news, international news and some personal thoughts. Perhaps tomorrow I'll be on the street, who knows, but I enjoyed the trip! :D
     
  5. tritina

    tritina Regular Member

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    Great work !! But be careful on the finance stuff ... :D
     
  6. backontrack

    backontrack Power Member

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    Congrats on your success and spend the money wisely, Seriously though make goals and focus on scaling up and improving, progressing! Many people put all thier baskets in one and loose big. thanks given, Good luck!
     
  7. businessdad

    businessdad Newbie

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    The wise man says "the only way of being careful with trading is by not doing it". Well, I actually made it up, but it's true, trading is always high risk. However, not matter what, I have fun doing it. I can't say the same about marketing, really not my thing. :)
     
  8. businessdad

    businessdad Newbie

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    Thanks for your advice, which gives me the chance of giving my opinion about a few of the points you raised:
    1. Diversification
    I won't be relying on trading as the sole mean of income, but I'm also against the "ultra-diversification" strategies that are advised so often on the forum. Perhaps one "basket" may not be enough, but two or three should be, if one focuses on building a solid income, rather than a quick one. That's the whole point of the ebook I wrote, which didn't have much success as it doesn't come with fake data and nonsensical promises in the title.

    2. Goals
    I'm not a fan of goals, I find them demotivating. I prefer to define projects, as thought by a really great coach, and work on them. The two are connected, but, by just changing the point of view slightly, one can feel much better about the progress.

    3. Scaling up
    Maybe the high profits I achieved have been a fluke, or maybe not. In any case, I don't want to get rich, I really don't care about it. I started trading with some savings, by following simple logic, and it worked. I'm an IT guy, not an economist, and my number one rule is "keep it as simple as possible, but not simpler". Scaling up is always an option, but it must not be compulsory.

    I'm aware that my trumpet is not in tune with the orchestra here in BHW, but I hope the above will help people finding their own way, as per original title. :)
     
  9. young player

    young player Regular Member

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    Wow man. Keep up the great work. Someday I wish to be as successful as some of you.
     
  10. businessdad

    businessdad Newbie

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    I'm sure you will. After all, you're young (your nickname implies it) and you have all the time to become successful. I'm quite old, compared to the average age on BHW, and I'm the living proof that you don't have to necessarily succeed in the early stages, but just keep working until you find your way. :)
     
  11. extacef

    extacef Newbie

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    contracts,you are lucky
    thanks
     
  12. businessdad

    businessdad Newbie

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    I think you mean "congrats", so thanks! Today's trading went well too. Stock went down for a while, then it recovered and I got a profit of $1411.08. I kept looking at the market and realized that, if I kept my position open for longer I could have made three times that sum, or more, but I prefer not to be greedy. :)
     
  13. VIC SEO

    VIC SEO Elite Member

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    Fast learner but your joining date is december 2011? can you share from what you made $41k ? I guess you got every thing you need to start already which helped you in making $41k fast
     
  14. businessdad

    businessdad Newbie

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    The initial funds were about $25k, which I used to trade on the market. I didn't learn anything about it on BHW, I simply followed world news and guessed how the market would be moving on specific items. I'm not an expert in the field and, as I said in previous posts, all my trades may be "lucky shots", only time will tell.

    The sure thing is that I like learning about trading and doing it more than I could possibly like anything about marketing. I read a lot here on BHW, but it doesn't seem right for me. I don't care about find "every possible way to get money from Internet Users", I actually thing it's the wrong attitude (although quite widespread). Therefore, I directed my effort to something else and, so far, it worked. I'll see how it goes, meanwhile I'll enjoy the ride. :)
     
  15. businessdad

    businessdad Newbie

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    Last trades took an unexpected turn, my portfolio went down $30000 in the past few days. It kept going down, but I held steady, and now I'm back in profit. Not for the faint hearted, panicking is not good when you see your stocks plummeting! :)