Can we quit job and invest in stocks full time?

[Realist]

Re: Can we quit job and invest in stock full time?

:screwy: :dunno:

what a stupid comment to make. How is an investor taking an excessively large risk?
Do you think that CBA, BHP, WOW,etc aren't going to be around tomorrow?

They'll be around tomorrow, the next day and next year and they pay nice dividends too.

 

[Freddy I]

That seems a bit harsh...

I suppose someone was saying the same thing about HIH and Enron a few years ago...

 

[insider]

What would be cool would be travelling and getting the stock market to pay for everything.... AWESOME...

Yes, quit your job now!!!!

 

[theasxgorilla]

What would be cool would be travelling and getting the stock market to pay for everything.... AWESOME...

The ASX pays for my trips back to Australia, albeit once a year. To travel endlessly though...ask me again in a few years, I'm working at it

 

[professor_frink]

Re: Can we quit job and invest in stock full time?

They'll be around tomorrow, the next day and next year and they pay nice dividends too.

Where you been hiding Realist?????
exactly. And look at the worst possible situation- we have an 87 style crash tomorrow- you'd still be profitable from the start of the bullmarket. With the added bonus of a few years of dividends on top of the cap gains, and no tax bill.

 

[petee]

what the %$*)@...is this really a question LOL???...ill answer this question with a question....how long is a piece of string???? haha

 

[violet]

Thanks for those who honestly response to my initial question

 

[wayneL]

This seems like another apples and oranges thread.

Are we talking investing or trading with 100k.

If investing... fuggettit! Come back when you have another zero on the end.

If trading... yes possible (but more capital needed if a noob), but it will be run as a business so you won't be retired.

Be aware, as pointed out 64,528,984,752,865,276,561,928,759,657,682,374,658,237,456 times already on these boards, that the odds are apparently stacked against you as a trader.

 

[nomore4s]

But I guess common sense is a scarce commodity these days.

Common sense isn't that common.

 

[2020hindsight]

Common sense isn't that common.

common sense is not that common, it's a symptom of the times,
and/or cents are much more common, than are nickels and/or dimes
ahh shuddup - whatta lotta bull.!!!

PS no way could i live on my investment earnings lol - I mean, I like a beer every now and again - and there go my profits for the week. (bludy overheads lol !!)

 

[constable]

Hi all,

Can you pls tell me if i can quit my job and invest in stock full time?
is it possible?
provided i have 100K cash
pls give me some practical ideas if you think i can do that.
thanks
Tony

Well being in a similar situation to this scenario i would say a definite absolutely NOT to your question !!
Unless you are some sort of genius noob trader who has familiarised himself with stock trading patterns and application of trend analysis, fractional plays, disciplined psychological control and an expert in activating stop losses etc etc etc etc you will be bent over and given a good rodgering.
Myself personally with no experience have been able to etch out an average of about 1500 per week trading with 100 to 150k in stock on any one day. HOWEVER i have taken some hits up to 20k in the beginning.
AND I DO NOT RELY ON TRADING AS MY ONLY SOURCE OF INCOME.
Otherwise the pressure of being a noob would screw me for the following:

I OVER TRADE because i am quick, too quick, to sell my winners.

I HAVE been caught out NOT activating my stop losses because i have been sucked in by fundamentals. TAS and EKA are a great example of this.

I SOMETIMES IGNORE fixed fractional % and place a move well in excess of 40k. SEN great ex.

I LISTEN to hype rather than analysis GDN (still think this is going to be money for jam).

AND I AM DOWNRIGHT GREEN when it come to t/a.

HOWEVER, i find trading can be extremely stimulating and in some instances extremely rewarding.
I feel as though i am reaching the other side in relation to my trading however its taken 4 months, (note here that even in two years from now i will still be realistically a noob in the scheme of things) and a lot of stress, some big hits (either way) and the luxury of no pressure on my immediate financial situation.
Anyrate if i had to rely on this as a sole source of income NO QUESTIONS ASKED, I SIMPLY WOULD NOT!
My last piece of advice is "easy cometh easy goeth". You will learn this too, fast!!

 

[2020hindsight]

here's a thought ...many here wont like it ...
but a council worker who digs just one post hole a day DOES something for Australia.
Most of us here are just gamblers (fun? pleasure?) who contribute nothing.
Shouldn't confuse work with pleasure imho.

PS i forgot to add that it's better odds than the casino ...
AND you can play in your pyjamas

(but in summary, Violet, imho, you would have to be lucky to make a living in the long term). There are a few clever quotes around here eg one that comes to mind is "the market can stay illogical longer than you can stay financiallly fluid" etc. BUT equally, there's one chance in 10 (20?) that you make a motza question then is can you live with those odds? (again imho) What are the consequences of failure as they say?

(PS one of the passwords I use to trade with includes "IOU" - lol - just a way to remind myself with every trade that I'm not a millionaire, and not to kid myself or to carry on like one

 

[violet]

thanks alot guys.
your comments definately help.
it makes sense to me.
thank you.

 

[2020hindsight]

let us know how you go violet
will it be a case of "ultra violet" - lets hope so -
or "violet crumbles"

 

[steven1234]

Hey Violet,

I think this is what you are after, Bankwest online saver account, pays 6.8% pa and your money is available when its needed for trading...


http://www.abetterdeal.com.au/

 

[violet]

Thanks alot Steven, I will check it out.

 

[The Red Baron]

Hey Violet,

I think this is what you are after, Bankwest online saver account, pays 6.8% pa and your money is available when its needed for trading...


http://www.abetterdeal.com.au/

Just opened one of those today, 6.8% half decent saving account for the Euro Contiki trip in August.

 

[Julia]

Hey Violet,

I think this is what you are after, Bankwest online saver account, pays 6.8% pa and your money is available when its needed for trading...


http://www.abetterdeal.com.au/

I checked this out a while ago. It's not available for Self Managed Super Funds which they consider a "business"!

Julia

 

[Sean K]

I checked this out a while ago. It's not available for Self Managed Super Funds which they consider a "business"!

Julia

Isn't it good that a self managed super fund is considered a business Julia? I thought there were some tax advantages to it. Curious as I'm thinking about setting one up.

 

[porkpie324]

Yes you can quit your job, I did 3 years ago. I have made far more money share trading since I quit work than I did as a part time trader. Mind you it depends on your job, you may have a nice cosy number as a company director with a nice fat annual bonus, or you could have been like me 30yrs as a firefighter, it all depends on your risk tollerence with me it did'nt change much. porkpie