How hard would it be to support yourself entirely with stock

Do you have any source of regular income or a bit of money saved up?

I would not rely on trading but if you have enough neetbux or w/e to support your lifestyle, might as well set some aside and try to grow it.

Just don't tell anybody so the neetbux keep coming

>>1171582
I've been trading full time for just over 3 years now.
I do have other sources of income but I could depend entirely on trading.

Initially it sucked. Lost about 10k making stupid decisions and figuring out what not to do.

The downside ?
I dont know what Im going to make each week. Some weeks are good, others bad.
It can be fucking boring at times just watching and waiting.

Don't think you can just fire up some vidya during the boring moments. Do you have the discipline to treat it like a business ?
Be there an hour+ before open and sit there until close even if nothing is happening ?
It's not all just *click click profit*.

>>1171605
>It's not all just *click click profit*.
What are dividends?

I mean, I know it's not easy, but instead of having to buy/sell often, you'll just get money send to you. So holding is passively profitable.

>>1171650
Who the hell is "Nichole Huerta" and why is her name on my post?

>>1171650
It's pretty rare to find dividends that pay more than 8%. So for a NEET quality of life, you would need 100k+.

>>1171653
Yeah, in a way, it's less efficient, but it's also safer, more reliable, and easier.

I'm one of the highly educated saving up faggots, so it's why I prefer those.

Is this shitty Google layout design and the random names an april fool?

It fucking sucks.

>>1171656
Yeah it seems so, June.

>>1171657
Well fuck me sideways, Rebekah.

>>1171582
if you were a neet and good with the stock market you'd just do consultation. how "hard" it would be either way would be like becoming a professional athlete.

>>1171669
>consultation
That sounds like it involves talking to people and maybe even leaving my house. No thanks.

>>1171582

For all the NEET's out there, await for liberation, particularly finance wise. Just wait 61 days more. wisdomrace.com

>>1171673
Thanks for that Darren.

>>1171650
what does trading have to do with collecting dividends?

if you have enough money that you can live off dividends you won't need to spend time trading at all- just hope your investments don't hit a slump

>>1171582
>set up hedge fund
>other people give you their money to invest
>live on the fees
Assuming you can live on 35k a year and you charge 3% per year to your clients, you only need to attract investment of roughly $1.17m

>>1171653
>It's pretty rare to find dividends that pay more than 8%.
Oil royalty trusts, usually pay about 3% per quarter.

I'd just do something with dividends, forget day trading

File: 190dd9b88a258aefccafbe9ba3eb965e.jpg (7KB, 225x225px) Image search: [Google]

7KB, 225x225px

>>1171744
Well, based on your "calculation" one must only find
- a prime broker
- a fund administrator
- a broker dealer
- a big4 auditor

willing to work for free.

And of course a financial regulator willing to let a NEET without any significant experience nor a licence trade along.

>>1171757
Or you could just convince 10 rich lawyers/doctors to let you play with 100k of their money (each) for a fee.

>>1171780
>>>1171757
>Or you could just convince 10 rich lawyers/doctors to let you play with 100k of their money (each) for a fee.

And how do you plan on doing that?

>>1171780
This was from a movie, totally forgot which one though.
Why are you on /biz/ if you believe Hollywood shit?

Difficult not at all you just need to make the math work for what you need.

So it'll be like 2 years hard work saving the cash. It really limts your growth though.

The next phase of life is almost always more expensive than 3x all the prior phases combined.

>>1171582
Do you mean that you'd have to use the profits to pay all your rent and bills?
Because, yeah, that would be a bitch.

>>1171673
what is this for?

File: 1459554347723s.jpg (3KB, 125x87px) Image search: [Google]

3KB, 125x87px

I'm a day trader and I only put 9k in, dont listen to guys that tell you that you need 100k or some other shit. Make 3%+ a day, which is very easy if you are good, and trade 9k or less. You'd make 270 CAD a day, or marginalize like I do and have 20k to play with.

File: 1459554633298s.jpg (3KB, 125x125px) Image search: [Google]

3KB, 125x125px

Also if you are a NEET, you will not be able to do it. The discipline required to trade independently is ridiculous. I get up at 5:30 am everyday, research markets for at least an hour, then trade 7:30 until 10am. You must be asleep with a schedule like that at 10pm or you the stress will kill you.

>>1171747
I don't know about oil royalty trusts, but you crazy asses are dreaming at 8% div annually. And 3% a quarter is 12% annually. The only reason an oil trust would be that high is because their per share value tanked due to oil prices and the div hasn't caught up yet. Good luck getting anything above 3% annually on a value company. And be please with 2%. Dividends are not sustainable sources of income unless you are crazy rich. You people need some damn education on finances.

File: 1377465084957.jpg (7KB, 264x191px) Image search: [Google]

7KB, 264x191px

>>1172419
>dream of telling boss to fuck off
>stay home and carve out a living pattern trading
>I want to believe
why is replacing a normal job so fucking hard /biz/? times get rough and I always end up back in the arms of abusive wagecuck pimps

>>1171605
this is truth.

>>1171895
I'm pretty sure it's actually more or less what warren buffetf did

>>1172431
>I don't know about oil royalty trusts, but you crazy asses are dreaming at 8% div annually. And 3% a quarter is 12% annually. The only reason an oil trust would be that high is because their per share value tanked due to oil prices and the div hasn't caught up yet. Good luck getting anything above 3% annually on a value company. And be please with 2%. Dividends are not sustainable sources of income unless you are crazy rich. You people need some damn education on finances.
Have a look at the BP prudhoe bay royalty trust (NYSE:BPT).
2005: 11.37%
2006: 11.23%
2015: 9.2%
And so on. Basically it's because it's not a company, but a trust which distributes a share of the -net profit- of some oil rig/operation every quarter.

>>1172432
because life is hard

>>1172432
>why is replacing a normal job so fucking hard
Because everyone wants to do it.
You can either accept that, and realize the challenges involved regarding generation of income, or convince yourself that nameless posters have discovered an easy secret to wealth (that you must have stupidly overlooked).

>>1172508
Looking at BPT, it looks like they're about to get btfo, either that or we're looking at the mother of all dips.
I don't really understand how closely this kind of trust is tied to the oil market. Would you mind explaining?
Meaning, does being a trust make BPT more or less vulnerable to market conditions, compared to oil companies?
In the event of a correction in the sector, who would fold first? Trusts or oil companies?

>>1172670
>either that or we're looking at the mother of all dips.
Yes it's steeply discounted atm because of the low price of oil and hence the low profits of oil companies/rigs

>I don't really understand how closely this kind of trust is tied to the oil market. Would you mind explaining?
It's pretty closely tied to the oil market. Basically it owns a % of the net profits produced from some oil rigs, and every quarter it distributes this money (less admin fees) to the trust holders. Higher oil generally means rigs are more profitable, thus the trust is worth more. Lower oil price means the opposite.

>Meaning, does being a trust make BPT more or less vulnerable to market conditions, compared to oil companies?
I would perhaps a bit more. BP for instance has only dropped less than 50% since its 2014 peak, compared to ~70-80% for their trust which is more in line with how much oil dropped.

>In the event of a correction in the sector, who would fold first? Trusts or oil companies?
Uhh this would depend on the trust and oil company in question. Some trusts have stipulations that they can only sell off a certain amount of their stake in rigs per period, which they could need to do if the rigs they draw their money from aren't turning enough of a profit. Companies generally have the ability to borrow money and whatnot, whereas I assume this would be more difficult or impossible for the trust to do.
So trusts could well go bust first. On the other hand they don't have to employ any oil workers, pay to maintain/staff the rigs, and they aren't in debt from building rigs and doing exploration/research, so it's entirely possible oil companies could go first too, as far as I can tell.

>>1171605
>lost 10K making stupid decisions
What the fuck, how? did you buy like 100 shares of really cheap non profitable stocks?

>>1172822
>stupid decisions
That's the kind of shit you just have to roll with.
Three years ago, I lost $40,000 on two stocks.
Finished the year positive, but still.

Ranch or cool ranch?

>>1172976

I'm at the worst week of my life with -30%, been trading for six months

What advice do you have for me?

>>1172996
An honest assessment is probably due.
Are your positions down because of general market/sector movement? Or were they poorly chosen? (It can be easy to convince yourself it's the former, even if it's really the latter).
What and with how much are you trading?
It could be you're into things that you shouldn't be, either because of their complexity, or because you lack the funds.

>>1172996
quit

>>1173036

Extremely shitty timing really

I've been getting better but the stress from my normal job added up to being cocky and I fucked up holding some stuff over the weekend, I could be up 5% if I just waited till monday

>>1173037

I don't have a choice, I work a job that will get me under 100k a year and will inherit millions soon. Trading must become second nature for me

>>1172419
>>1172429
thanks for the insight. Can you say anything about what strategies you are mostly using? Can be vague if you want it to be. Would be highly appreciated.

>>1171669
Consultation in the finance industry is illegal without getting a super ultra expensive license bud.

>>1172497
I'm pretty sure Warren Buffetf also graduated from a prestigious university before doing this siht.

Successful stock market trading is done by brokers with market makers or HFT firms with millions/billions in capital. The "blue collar" traders we call them trade futures contracts. Lower cost of entry, higher leverage, higher profit margins, higher suicide rate.

>>1171877
>>Or you could just convince 10 rich lawyers/doctors to let you play with 100k of their money (each) for a fee.
>And how do you plan on doing that?

Start trading and keep track of your history. If your returns are high over a long enough period of time, they might believe you.

>>1171582

I worked at one of the top prop desks in NYC and any good prop firm will tell you it takes 6-18 months to become decently profitable, and that is with hundreds of thousands in buying power from the firm at no risk to your own finances. Probably a lot more difficult to recover from the inevitable blow ups if you're on your own savings

>>1171582
you can become a billionaire with Canad'as TFSA account very easily if you play your cards right.

>>1173350
Not to mention he was also the son of a fucking congressman.....

>>1173044
>Extremely shitty timing
Ah, you went long in January?

>>1171596
You have to report stocks to irs if you are an American.

So nobody is safe.

>>1173520
Care to explain this very easy strategy?