Side Hustles / Passive Income

[stubbo-admin]

Anyone dabbling in side hustles, attempting passive income etc?

Any success stories?

About to start trying to flog some aquatic plants/sourcing some miltipack items, breaking them up and selling on eBay, and maybe creating some Etsy Printables. 

No idea if any of it will work but nothing ventured, nothing gained. 

Anyone else got any money making schemes on the side?

[stubbo-admin]

In the early 90,s i developed an interest in trading the financial markets, futures in particular and over the course of a few years i did various courses, read books and tried varies trading methods/strategies but without much success in fact i was losing money most of the time.

In about 2000 i stumbled over very simple strategy and tweaked it a bit and it started working for me, then over the course of the next few years went from trading 1 contract and 1 or 2 markets to trading around the globe in multiple markets and multiple contracts and eventually quitting my job and trading full time.

Do i still trade full time though NO!!! Around 2012 i decided to upgrade the house so agreed to buy a big place in Sydney but without going into that story it meant a good portion of my trading capital was required to fund the house, BUT i made the fatal error of not cutting back my position size or the amount i was trading and looking back i was overtrading like a cսnt, up all hours and thinking i was Mr Billy big bollocks, the day eventually arrived and i was pretty much wiped out and never fully recovered, mentally that is, having bought the house outright turned out to be a blessing.

Took a few years before i could trade again but never went back to it full time or anywhere near the scale i had been at, got a job and a normal life, still trade now im semi-retired but only a small account and Forex pairs, but very much a hobby rather than a money-making venture.

Does that strategy i used still work?? Not really like everything in the markets as they got more efficient over the years it got arbitraged out, trading it today would see me losing a lot of money, so the wipe out maybe did me a favor in that regard as well OR perhaps i would have evolved in my trading as the markets changed?? LOL, i will never know as the emotional toll put that off the table.................

I've met a handful of people who trade as a sideline and the common theme seems to be that it's quite obsessive - almost as addictive as gambling is to some.

While I was in a local Thai hospital I got chatting with an Aussie who was there getting a head-injury treated - claret everywhere.

The doctor wanted him to stay in overnight for observation, but he insisted on going home & back to his computer, which he did.

Closest I came to such thing was making computer cables while I was working nights (in the pre-USB days), but that was just to keep me occupied, really.                                  

Well trading essentially is gambling (betting that something is going to happen based on your understanding of factors affecting the probability), so that it has the same traits and pitfalls is unsurprising. 

[Mike Oxsaw]

In the early 90,s i developed an interest in trading the financial markets, futures in particular and over the course of a few years i did various courses, read books and tried varies trading methods/strategies but without much success in fact i was losing money most of the time.

In about 2000 i stumbled over very simple strategy and tweaked it a bit and it started working for me, then over the course of the next few years went from trading 1 contract and 1 or 2 markets to trading around the globe in multiple markets and multiple contracts and eventually quitting my job and trading full time.

Do i still trade full time though NO!!! Around 2012 i decided to upgrade the house so agreed to buy a big place in Sydney but without going into that story it meant a good portion of my trading capital was required to fund the house, BUT i made the fatal error of not cutting back my position size or the amount i was trading and looking back i was overtrading like a cսnt, up all hours and thinking i was Mr Billy big bollocks, the day eventually arrived and i was pretty much wiped out and never fully recovered, mentally that is, having bought the house outright turned out to be a blessing.

Took a few years before i could trade again but never went back to it full time or anywhere near the scale i had been at, got a job and a normal life, still trade now im semi-retired but only a small account and Forex pairs, but very much a hobby rather than a money-making venture.

Does that strategy i used still work?? Not really like everything in the markets as they got more efficient over the years it got arbitraged out, trading it today would see me losing a lot of money, so the wipe out maybe did me a favor in that regard as well OR perhaps i would have evolved in my trading as the markets changed?? LOL, i will never know as the emotional toll put that off the table.................

I've met a handful of people who trade as a sideline and the common theme seems to be that it's quite obsessive - almost as addictive as gambling is to some.

While I was in a local Thai hospital I got chatting with an Aussie who was there getting a head-injury treated - claret everywhere.

The doctor wanted him to stay in overnight for observation, but he insisted on going home & back to his computer, which he did.

Closest I came to such thing was making computer cables while I was working nights (in the pre-USB days), but that was just to keep me occupied, really.                                  

[Sydney_Iron]

In the early 90,s i developed an interest in trading the financial markets, futures in particular and over the course of a few years i did various courses, read books and tried varies trading methods/strategies but without much success in fact i was losing money most of the time.

In about 2000 i stumbled over very simple strategy and tweaked it a bit and it started working for me, then over the course of the next few years went from trading 1 contract and 1 or 2 markets to trading around the globe in multiple markets and multiple contracts and eventually quitting my job and trading full time.

Do i still trade full time though NO!!! Around 2012 i decided to upgrade the house so agreed to buy a big place in Sydney but without going into that story it meant a good portion of my trading capital was required to fund the house, BUT i made the fatal error of not cutting back my position size or the amount i was trading and looking back i was overtrading like a cսnt, up all hours and thinking i was Mr Billy big bollocks, the day eventually arrived and i was pretty much wiped out and never fully recovered, mentally that is, having bought the house outright turned out to be a blessing.

Took a few years before i could trade again but never went back to it full time or anywhere near the scale i had been at, got a job and a normal life, still trade now im semi-retired but only a small account and Forex pairs, but very much a hobby rather than a money-making venture.

Does that strategy i used still work?? Not really like everything in the markets as they got more efficient over the years it got arbitraged out, trading it today would see me losing a lot of money, so the wipe out maybe did me a favor in that regard as well OR perhaps i would have evolved in my trading as the markets changed?? LOL, i will never know as the emotional toll put that off the table.................