Share trading as a part time/ night job

[rituraj]

I just want to know if it is viable.

I am currently on a full time 9-5 job which I love. But after that I spend a considerable amount of time in the evening just browsing web, watching movies and tv except on weekends. So without compromising personal life, is it possible to dedicate that time to do some online share trading/investment just to raise the financial situation a little bit? I am not talking about casual investment, I am definitely going to do some research before I spend so as to keep my investment as far as possible from being a gamble an more like an well thought speculation. I consider myself capable enough to understand the market basics since I am a genius :biggrin:

I am not expecting millions obviously. But a few/several thousand $ over the course of a year would be what I'd call time well spent. Is that possible staying at home and not making it a full time obsession? Speaking of obsession, how addictive is it?

And can anyone tell if I will remain sane after stepping on that boat? I don't want to become the person that changes the channel from ESPN to CNBC in front of innocent and underage people or lecture people about how they are wasting their life staying poor.

Thanks..

 

[halik]

what makes you think you will make money doing that?

 

[IEC]

what makes you think you will make money doing that?

^this

I know a guy who lost over ONE MILLION dollars day trading.

Needless to say, his retirement isn't looking as nice as it used to...

 

[Tweak155]

what makes you think you will make money doing that?

Isn't that what he is asking?

 

[Insomniator]

If it were possible, a lot more people would do it. Just get a girlfriend, she'll take up your free time.

 

[MixMasterTang]

If you're thinking about buying and selling frequently then buying and selling in the evening is probably the worst time to do it. The #1 rule of day trading is to never take an overnight position.

 

[Newell Steamer]

Human trafficking.

You will:
1) make LOTS of money
2) possibly meet someone special you can build a future with

 

[IEC]

On second thought, I think OP should get it out of his system while he's still young and can afford to lose everything for being stupid.

Because it won't screw him up as badly as if he did it when he's about to retire.

 

[Markbnj]

OP, take whatever you can afford to risk trading stocks, and put it into a Vanguard or other good index fund. Keep adding your risk money to that fund every month. In twenty years you'll be a wealthy person, or at least wealthy enough to have some security.

 

[rituraj]

Human trafficking.

You will:
1) make LOTS of money
2) possibly meet someone special you can build a future with

Haha. I'd consider that.

I hope I didn't sound too ridiculous. But theoretically I thought that was possible. Something like frequent buying and selling. And with proper knowledge and caution, the practice can be closer to the theory.

Anyway does anyone know who makes decent money like that?

And girlfriends are scarce here. No body sells them.

 

[MomentsofSanity]

Haha. I'd consider that.

I hope I didn't sound too ridiculous. But theoretically I thought that was possible. Something like frequent buying and selling. And with proper knowledge and caution, the practice can be closer to the theory.

Anyway does anyone know who makes decent money like that?

And girlfriends are scarce here. No body sells them.

Just out of curiousity what markets were you think you woul dbe trading in in the evening hours? And what are those hours?

As a broker sure I see people make money trading like that. I also see a lot of people lose money trading like that. THe latter being the far greater occurrence.

 

[rituraj]

Just out of curiousity what markets were you think you woul dbe trading in in the evening hours? And what are those hours?

As a broker sure I see people make money trading like that. I also see a lot of people lose money trading like that. THe latter being the far greater occurrence.

I am on asian time and plan to invest in foreign markets. Still not sure which one. And for the record, I don't even have a DEMAT account yet. so you might guess the maturity of my question.

But my understanding was like this.

*See the trend of price rise or fall of a share. if it is starting to rise, buy it.

*Before it is too late or uncomfortable sell it.

*Don't be greedy, settle for small profits.

*Don't buy too much.

*Do it frequently.

*Look up past records for statistical analysis.

*Follow a company to know what product or project they are planning and try to find out/predict what response they are going to get.

So that was theoretical. But I am ignorant about whether that kind of an approach is feasible and profitable or not. Or is it way too much work, time and risk for way too less actual profit?

 

[Blackjack200]

I am not talking about casual investment, I am definitely going to do some research before I spend so as to keep my investment as far as possible from being a gamble an more like an well thought speculation.

Yeah? What kind of research are you talking about? Here's Apple's annual 10-k:

https://www.sec.gov/Archives/edgar/data/320193/000119312513416534/d590790d10k.htm

Go ahead and compare it to their competitors (principally Samsung, which files it's annual report in South Korea)

http://www.samsung.com/us/aboutsams...ion/downloads/2013/2013_con_quarter03_all.pdf

You have the financial training and industry expertise to interepret those, right?

 

[Imp]

OP's location is India, so he should get a bite out of North American markets in the evenings?

I tried day/week trading, or trading/ speculating in general, and about broke even. Last year, I decided to just buy and hold. Came out better than all my trading years combined.

 

[PingviN]

I've heard good things about lottery, some people win insane amounts of money.

 

[MomentsofSanity]

I am on asian time and plan to invest in foreign markets. Still not sure which one. And for the record, I don't even have a DEMAT account yet. so you might guess the maturity of my question.

But my understanding was like this.

*See the trend of price rise or fall of a share. if it is starting to rise, buy it.

*Before it is too late or uncomfortable sell it.

*Don't be greedy, settle for small profits.

*Don't buy too much.

*Do it frequently.

*Look up past records for statistical analysis.

*Follow a company to know what product or project they are planning and try to find out/predict what response they are going to get.

So that was theoretical. But I am ignorant about whether that kind of an approach is feasible and profitable or not. Or is it way too much work, time and risk for way too less actual profit?

The sense that I am getting is that you are very new to this. In that case I'd say you are about guaranteed for it to not be profitable for you in any way shape or form. My first (only) suggestion would be to take in as much education as you possibly can before you start any trading. Paper trade to test your theories. See how it works out on paper for a bit.

 

[rituraj]

The sense that I am getting is that you are very new to this. In that case I'd say you are about guaranteed for it to not be profitable for you in any way shape or form. My first (only) suggestion would be to take in as much education as you possibly can before you start any trading. Paper trade to test your theories. See how it works out on paper for a bit.

Sounds like a sound advice

I am in fact not even an infant in this world, kind of an unborn.

So you suggest: read a lot, understand, try making an imaginary purchase based on my theories, see if it goes well, make imaginary sale of the same, do some more of that, keep a record, after some trials find out if the net imaginary outcome is profitable or otherwise. After gaining enough confidence start making actual trades.

Sounds like a plan. I am in no hurry. Do I seem like I get what you said?

 

[MomentsofSanity]

Sounds like a sound advice

I am in fact not even an infant in this world, kind of an unborn.

So you suggest: read a lot, understand, try making an imaginary purchase based on my theories, see if it goes well, make imaginary sale of the same, do some more of that, keep a record, after some trials find out if the net imaginary outcome is profitable or otherwise. After gaining enough confidence start making actual trades.

Sounds like a plan. I am in no hurry. Do I seem like I get what you said?

You should be able to find online brokers that offer paper trading options with an account with them. Some may require funding but with a little research you should be able to find something that gives you a trading platform to practice with "play money" to see how viable your strategy is.

Going the brokerage route you should be able to find one that will allow you to have real time streaming quotes without additional costs. Think or Swim from TD Ameritrade for example will let you paper trade on an unfunded account at no cost but there are others out there. I just like the ToS platform.

Otherwise sure you can do it on actual paper but where's the fun in that?!

 

[Scarpozzi]

Trading stocks as a night job would be great if any viable markets were actually open at night.

Sure you can trade in asian stocks, but you'd really need to be schooled in what drives the markets over there. The few asian stocks I've bought, I never could understand. Currency valuation in that part of the world is a scam.

 

[MagickMan]

Buy large cap, no-load, indicator funds, don't worry about the rest. Play the averages and stick with it and you'll come out great.

 

[Blackjack200]

Trading stocks as a night job would be great if any viable markets were actually open at night.

Sure you can trade in asian stocks, but you'd really need to be schooled in what drives the markets over there. The few asian stocks I've bought, I never could understand. Currency valuation in that part of the world is a scam.

//Didn't read thread

//Doesn't know OP is in Asia

 

[saratoga172]

If it were possible, a lot more people would do it. Just get a girlfriend, she'll take up your free time.

LMAO! Truer words have never been spoken.

 

[DaveSimmons]

Your odds of making money will be much higher if you put the money into a US stock index ETF (exchange traded fund) and leave it there, never selling. Just keep buying and holding more shares. Vanguard index ETFs are a very good choice.

For making extra money, get a second job. A real one, not some "multi level marketing" scam like selling vitamins or kitchen knives.

Or make money by not spending it -- have left-overs or a can of soup for lunch instead of going to a fast food place, make your own coffee or tea instead of buying a $5 latte every time. You don't need to do this every day, just do it a couple of days a week.

It might seem boring to just buy and hold ETF shares, but investing for your retirement doesn't need to be exciting.

 

[SSSnail]

Dude, forget the naysayers, go straight to options trading. Baller status in no time.

 

[Sluggo]

http://www.youtube.com/watch?v=JGstHASo1t4