Secondary Income or other sources of income

Secondary Sources of Income:

- Real Estate Agent
- Mortgage Broker
- Car Salesman
- Consultant
- Trading Coach
- Online store: contact lenses, prescription drugs, etc.
- Debt Counselling
- Immigration Services
- Alarm Systems
- Water Filtration Systems
- Long distance phone cards
- Landscaping
- Freelance writer/photographer
- Personal Trainer
- Computer repair/servicing
- Coffee shop in a corporate area
- Golf Instructor/school
- Selling Advertising space
- Cyber Cafe
- Organize tours to your city's hotspots.
- Sushi delivery
- Waiter, Bartender, Stripper
- Actor, Model and/or agent
- Model Scout

P.S. Just doing some brainstorming here. Your options are greater if you trade End of Day. Feel free to add to the list.
More...

Adding a few more to the list:

- Tax consultant/preparer
- Mobile Notary
- E-commerce services for small businesses
- Ebay auctions
- Hauling away junk, i.e. furniture, appliances, constuction debris
- Peephole installer :p
- Video/photographic inventory of possessions to document in case of loss for insurance purposes
- Appraiser
- Financial Planning
 
Quote from downtickboy:

It is not like he came on here and said pullbacks no longer work, double tops are no longer valid, and TA is bullshite. Basically he was saying that he would like another souce of income outside of trading and was looking for suggestions. All he got was that TA always works and responses sounding like no one on here every goes into trading slumps or has a difficult time because of the TA. Maybe he makes 10K a month trading but wants to smooth out or enhance his income stream.
More...

You are wrong. Again, I got this thread off topic - but it was in response to this statement:

"I recently have been thinking of looking for another career type job to bring more stability to my life...Trading is great when things are going well, but as we all know strategies die and that is where the stress can begin..."

I simply responded because that makes it sound like you have to have a strategy - a "holy grail" - a great setup - to be successful. Nothing is further from the truth. Being able to read the charts and apply core TA concepts will consistently make you money. Through any market. And, it has been proven for as long as markets have traded freely.

No one said people don't go through slumps, or people don't have difficult times. Usually, those times come when someone forgets the basics and tries to trade a certain set-up!!!!

Again, I apologize for getting the thread off-topic. I hope the originator got some good information - I saw several posts offering many suggestions (including prostitue and stripper - but I am sure those were in fun).

My .02 - look into auto sales. The guy who sold me my Lexus makes over $100,000 per year, and he get's one day off during the week (M-F), and several days does not have to go in until 1:00. If you are the West Coast, you could trade most of the week around that schedule.
 
Quote from Achiever:

Hi Brandon,

Just a few questions for you about your educational services:

How financially rewarding is it to provide quality education materials to traders? Six figures+/per year?

Do you feel that this business takes away from your trading?

Are start-up costs and expenses really high to enter into this field?

Which competitor (providing the same service) do you admire most?

What's one thing that you'd like to offer in your site that you currently don't?

Is the effort that you put into your business worthwhile?

Thanks. Of course no need to answer if you think that these questions are to personal. I'm just curious about your industry.

:)
More...

We are not as good at making business decsions as making trading ones. I have brought friends in and kept them around to do business related things longer then I should, took bad advice etc. So, we "should have" made mid six figures this last year, but instead made about 90K each doing it.

It takes away from the daytrades substantially so I have just had to adjust and swing/position trade more myself.

Our startup costs where under $1000 in cash. But there was a substantial time commitment.

I find something to admire in most of them (maybe not trading, but business smarts or just being a kind person). The two I would pick and say I admire most would be Linda Rashke and Tony Oz. Both are great traders who are very generous with their time and help new people. Also Oliver and Greg @ Pristine in that they took a very small fax service that Oliver and his wife used to manually send out each morning and turned it into a huge company, though I could not personally do many of the things they have done to build their company, its still a large accomplishment that they did. Oliver is one of the best speakers I have ever heard in any field. Finally, for all the bitching and moaning I have done in the past, I would say Ken Wolff. During the "Glory Days" he built a huge service spending no money at all. They built a nice community with friendly people who all helped each other out. He also took a chance on a 22 year old kid in 1998 who said he knew Technical Analysis and for that I will always be greatful that he gave me the opportunity to teach and put me in a position that people would know who I am. For that I will always be greatful.

As for what Id like too add, I would love to own a brokerage firm and get tickets :)

I think I get a lot out of teaching, so its worthwhile. I get to help people accomplish a goal and see their progress which is a great feeling even if I was not paid. I also get to improve my own trading a lot by teaching. I am a much better trader and have experiance much beyond my amount of time in the market due to helping others so much.
Brandon
 
Quote from WDGann:

Let's discuss about how you get other sources of income that is not related to trading...

Do you own a franchise? (Like Subway)

Invest in real estate?

Have a second job? (Bartender, Mortgage Broker/Consultant, etc.)

Despite of what some think, having an income other than trading is very helpful and alot of established traders actually get into this to protect their capital from the market...

Any thoughts?
More...

buy and sell cars, loan money and of course my favorite job of all is bones ( dominoes for money )
 
Quote from Brandonf:



We are not as good at making business decsions as making trading ones. I have brought friends in and kept them around to do business related things longer then I should, took bad advice etc. So, we "should have" made mid six figures this last year, but instead made about 90K each doing it.

It takes away from the daytrades substantially so I have just had to adjust and swing/position trade more myself.

Our startup costs where under $1000 in cash. But there was a substantial time commitment.

I find something to admire in most of them (maybe not trading, but business smarts or just being a kind person). The two I would pick and say I admire most would be Linda Rashke and Tony Oz. Both are great traders who are very generous with their time and help new people. Also Oliver and Greg @ Pristine in that they took a very small fax service that Oliver and his wife used to manually send out each morning and turned it into a huge company, though I could not personally do many of the things they have done to build their company, its still a large accomplishment that they did. Oliver is one of the best speakers I have ever heard in any field. Finally, for all the bitching and moaning I have done in the past, I would say Ken Wolff. During the "Glory Days" he built a huge service spending no money at all. They built a nice community with friendly people who all helped each other out. He also took a chance on a 22 year old kid in 1998 who said he knew Technical Analysis and for that I will always be greatful that he gave me the opportunity to teach and put me in a position that people would know who I am. For that I will always be greatful.

As for what Id like too add, I would love to own a brokerage firm and get tickets :)

I think I get a lot out of teaching, so its worthwhile. I get to help people accomplish a goal and see their progress which is a great feeling even if I was not paid. I also get to improve my own trading a lot by teaching. I am a much better trader and have experiance much beyond my amount of time in the market due to helping others so much.
Brandon
More...

Great answers Brandon! Thanks for providing us with some insights into your field. It's always good to see somebody succeed with hard work, dedication and integrity. :)
 
I've heard that some people can make a living playing poker. Can anyone with experience comment on this? I would imagine that it is very similar to trading.
 
I know someone that was a professional gambler before trading. For the last 1.5 years in the middle of the day when it was slow he would play the video poker off of the internet with one of those gambling sites. I think that it got to the point where he was making more with that then trading on some of the slower weeks.
 
Quote from cornholetrading:

Any one else have some real suggestions or possible secondary job ideas? I am looking for jobs that are not dead end type jobs such as bar tender,ect, but something that could develop into something in their own right. I have thought of the mortgage business seeing that I know a person who made 900K last year, but I am afraid of moving to that only to find out a year from now everyone will start getting laid off in that business. I wish I knew of an area of business that would clean up when the foreclosures start. I would love to be in the hedge fund industry but don't know any contacts within that business.

I recently have been thinking of looking for another career type job to bring more stability to my life. Based on some of the other traders I know some of them are thinking the same thing. This is especially true if you are thinking of starting a family or already have a kid, both of which I don't have but want to have. Trading is great when things are going well, but as we all know strategies die and that is where the stress can begin if you have others that are dependent on you. I am beginning to think that I would like trading to be the gravy income with something more stable and then be around for those years where trading is the big income source when trading is phenomenal. The real estate business seems to be a good fit because they seem to be opposite cycles.

Any suggestions?
More...

Bottlenecks that I am aware of in the real estate industry nationwide are not enough appraisers and title abstractors. Real estate sales is area specific as is mortgage brokerage and building inspections(how many are there?) Lawyers have title insurance pretty much sewed up which is a gold mine and a lot of loan closing services outfits. Appraisal is kind of interesting because you have the added need for all the estate planning, estate tax angles... . Also, the inspections for somebody with a contracting/building trades background. Another trend is for the big lenders and title insurance companies to offer more and more collateral real estate/insurance related services. Two big ones with web sites you might get some ideas from are Countrywide Home Loans and First American Title Insurance Company. Finally, I think it would be a gas to have an auctioneers license.

Geo.
 
PORN..........amature porn is huge now. But remember the dollar has lost about 40% so ur worth 40% less, ur new partime job will pay you in dollars which are worth 40% less (than a year ago). So, ur gona have to work 6 jobs. Now, working 6 jobs in a economy that is not creating JOBS will be interesting.

Also, the jobs of bartender and waiter are tied to people spending money and now that the crunch is on most of americans, they are not going out and droping money on drinks and food as much, so the income from such a job has droped as well.

So good luck on working parttime and trading during the day. Ck out some of the others on ET, the ones who work third shift and trade, one who trades from a boat and shops all day, etc. These guys/girls are cleaning up. Bwhahahaa:D
 
You must log in or register to reply here.
Back
Top