Just sold my business for $250k

[EON Kid]

Quote from Rob Johnson:

Thanks for all the replies and recommendations I opened a very small trading account and a virtual account to start and see what happens. Also what is the best online trading platform for foreign securities and is that a good idea?

oh no, bad idea, this shit is worse that crack, stay away b4 its 2 late, don't walk run dude

some good long term investing advice

Quote from RedTankEra:

Trading is a lousy profession, after more than a decade as a full time trader, I would have rather become a professional in some other field, a lawyer perhaps, a dentist, who knows.

Very few make it, and make it or not you will get wherever you get with plenty of scars.

Scars from losses, stress, bag in your eyes, and probably back pain and a bigger belly. In some cases, divorce, quarrels with your significant other, and what not.

Now, assuming you are wise enough not to pursue trading any longer.

Don't give up on investing.

I'll give you a few tips....

#1 Only buy reputable indices
ie SPY, it will never go bankrupt, don't try to think you are smarter than Standard and Poor, it has built in diversification, let them work out the members for you, you are not any smarter than them as a group.

#2 Only start to buy in bear markets
ie Yes, that's how you do it, it's a psychological game

#3 Dollar cost average it
ie Add to your losing position and only in lower lows to get maximum displacement. As you wait for the market cycle turn you will be accumulating and getting paid a dividend.

#4 Never overleverage
Don't disobey this rule, ever

#5 Distribute in bull markets
Distribute on higher highs when there is complacency

#6 Rinse and repeat
It's that simple

 

[EON Kid]

Quote from Ghost of Cutten:

Stick to what you know. The vast majority of people who start trading never make even 25k profit, let alone 250k. The most likely outcome is that you lose some or all of your $250k before you learn how to trade, and there's an excellent chance (90%+) that you never become never net profitable.

My advice is do something related to what made you the 250k in the first place.

Good advice from someone who has been around the block, dont ignore his advice

 

[dealmaker]

Quote from Rob Johnson:

Can I make a living trading or should I buy another business. I have very little trading exp. serious replies only please, I need to know which direction I should go

Buy another business!

 

[bjw]

amazing how on this forum you start reading threads that could be entertaining and you think when reading some of the advice that's being given: this poster really knows his shit, he must be very succesful... and then a few pages later you see them writing about some dumbass interest trade which shows a complete lack of insight in how this stuff works. not sure why i'm posting this here, but it's a huge deja-vu, over and over again on this board.

ok, so maybe i do have advice: if you want to trade your 250k, go for it, if not, don't. worst thing you can do is listen to others.

 

[Newex]

What's with all these new posters coming into lots a money and needing advice?...

the fact that they have lots of money leads me to believe that its some kind of small time scam in the lines of

“oh i have so much money but its tied up , please trade for me and Iwill give the money later”

or some other type of scam that takes advantage of peoples greed .

I generally ask advice in forums but i try to make sense . Saying in a car forum that you own a ferrari and asking advice on what car to buy is nonsense .

If someone sold a business for 250K the forum should asj his advise not the other way round

 

[oilfxpro]

Quote from Rob Johnson:

Can I make a living trading or should I buy another business. I have very little trading exp. serious replies only please, I need to know which direction I should go

Hire a profitable trader on a profit share basis , with loss limits and deducting losses before paying out.

 

[halfwaythere]

Quote from Newex:

the fact that they have lots of money leads me to believe that its some kind of small time scam in the lines of

“oh i have so much money but its tied up , please trade for me and Iwill give the money later”

or some other type of scam that takes advantage of peoples greed .

I generally ask advice in forums but i try to make sense . Saying in a car forum that you own a ferrari and asking advice on what car to buy is nonsense .

If someone sold a business for 250K the forum should asj his advise not the other way round

You're talking like 250k is an amazing amount of wealth.

 

[marketsurfer]

Don't do it, brother. Trade a small amount as a hobby or for entertainment-- if you want to make a living with it, go to a prop shop and trade OPM-- don't use your nest egg. read this and the other posts on my friends site:

http://www.jamesaltucher.com/what-a...er-in-trading-but-doesnt-know-where-to-start/

 

[Newex]

Quote from halfwaythere:

You're talking like 250k is an amazing amount of wealth.

Have you made 250K from trading ???

I am not saying its much but its enough to attract greedy “sharks” that want to take advabtage of you .

The topic starter might be a leggit member with a leggit question but he phrased his question the wrong way . He could say “I just sold my business and thinking of trading the procceeds what do you think?” , giving no specifics on ammounts .

A novice just waving 250K ia a siitting duck for potential scammers or the market (if he decides to trade)

 

[Bob111]

A novice just waving 250K ia a siitting duck for potential scammers or the market (if he decides to trade)

nobody is forcing you to press the buy or sell button..