A gambling business could be a heavy duty money maker. The house always wins, or they could kick out the customer.
$2500 saved up what to do?
- Thread starter SuperMiguel
- Start date
A gambling business could be a heavy duty money maker. The house always wins, or they could kick out the customer.
2500 isn't going to setup a business, plus he has a job so think hobby for some extra pin money, support a hobby, save for a car or my personal fav hookers
2500 isn't going to setup a business, plus he has a job so think hobby for some extra pin money, support a hobby, save for a car or my personal fav hookers
not true. there are people around here with beach house cleaning and lawn care businesses that have started out at that level. $2500 being recouped in probably the first two weeks....
The easy way is to buy the S&P indices or SPY (ETF). Based on history data you should make 5-10% annual without much stress.
2.5K still can afford to buy 12 SPY shares, not bad.
Google SPY.
Whoa! Way too many unanswered questions here, and for some reason people are just jumping in with advice that may not be at all pertinent.
First of all, what are your savings doing under your bed? Don't you believe in banks? In the USA, individual accounts are insured by the federal government up to $100K. So you may want to put your money someplace safer than your bed and where it may even earn a little interest while you decide what to do.
You got bored paper trading? Because it wasn't real money? Or because you were losing? Or both? What were you paper trading? Stocks? Forex? Futures? Options? Do you have a winning strategy, or are you just looking for an excuse to gamble?
Your question about options indicates you are unfamiliar with them, yet you seem ready to dive right in with real money. Why the big hurry? If you can't win with play money, real money isn't going to change your luck.
So many questions. Feel free to fill in some blanks.
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Absolutely correct-- I started my small publishing business with $15.00 and it supported me for close to 15 years.
Not to mention the fact that every successful ( start from scratch) trader I know or have studied, ALWAYS has that one lucky big win that allowed them to continue in the game. Luck plays a huge role in the market ( and life) --- if he wants to trade, GO FOR IT man-- you just might make it. surf
I guess i understand why the weird answers for some reason this thread was moving to trading fir life and trader career... Which is not the case... I have a career a job and a wife, so this would be as a hobby
So what I put above, learn to day trade for an hour or 2 when it suites you, kinda like playing a game, but if you win you get to buy yourself treats, what ever your into, bla bla bla
That way, you get in, you get out, you switch off trading and do something else, if you get into long term positions you'll want to be watching all the time and worrying this way, when your out your out.
Do it on your phone, PC, Ipad on your lunch break if needs be.
Any recomendation on how to start learning day trading? I watched few videos on dough but it was mainly about options
Options is long term so you have to maybe watch or set and forget if you can, but until you get good at picking the direction Options are high risk.
Out of the money options, basically unless they get into the money so the stock needs to move in your direction quite a bit, before the cut off date then 100% loss
Binary options are pretty much just a scam, avoid them.
Look how I daytrade in my journal, few MA's, jump on short term direction, books are mainly filled with BS PA crappola, IMHO, most on here use and they lose so you get the picture.
Keep It Simple is KEY!!