Other income sources / faster growthTrading is a way to make money but unless you start with 3 million it will take a while to get anywhere, and to be able to live off that alone.
If you are doing this right, you will miss out on rallies often, as might happen with Bitcoin here, there isn't that many really good opportunities in my eyes.
Successful people get like 2 trades a week, and even active day traders often say that 1 single trade makes their month and the rest is pointless.
I wonder what people's opinions are on ways to diversify or grow faster.
I made this little list of ideas and for each I tried to find the biggest downsides in my opinion, because that's what I do, I focus on risk and reasons not to do something.
* Look for work at a hedge fund (using a good track record)
- Working hours
- Having a boss
- If they don't understand your strategy they'll be annoying
* Start your own fund
- 1 million tons of regulations
- Costs, have to hire people etc
- PR and networking and all this is 95% of the job 5% is actually being good at buying and selling
* Offer a copy trade service
- Everything you do is visible to everybody in detail
- There are regulations
- This does not pay much does it?
* Offering an education and signal service
- You're in a cesspool of filth, and alot of people will assume immediately you are a scammer
- Most people that sign up are not naturally gifted and you will have to deal with failure
- In professional mode 24/7 (can't troll on social networks anymore :<)
* Trade friends money (on their behalf or borrow)
- Potentially dealing with emotional people on drawdowns, especially if you start with some losses
- Lame and just you're going to be more attached personally to this
- Unless you have billionaire friends...
* At certain thresholds just risk bigger and bigger. Ex: risk 1%/trade, once up 10% risk 2%/trade, then 3% etc
- You could end up giving away what took months to build
- Still goes rather slow if you are not going completely crazy and raising risk little by little
- If your strategy stops working right when you start going bigger you are going to love this
* Start a ponzi scheme but call it an inverted triangle growth factor that mathematically cannot fail
- Great idea!
- Wow why didn't I think of this before?
- What could possibly go wrong?
* Invest in a trashcoin and lose all your money
- Why not?
- To the moon!
- Excellent idea
* Just give up and go back to a regular corporate wagecuck job
- No
- I did my time already
- No
* Start a youtube channel
- Stay poor
- Worse idea
- NO
* Start a website and make money with advertising
- Does this make money?
- About what?
- 900 hours of coding and 4 hours a day to maintain it? (Going to take a while to get started, not sure it works out of course too, probably does not pay much for all the time spent)
* Buy and sell stuff on the internet
- Learning curve
- End up with lots of crap?
- Does this work?
* Start making a video game
- Learning curve here we go again
- Going to take a while
- Might not like doing this after a while
* Get into real estate, buy on a loan and use people rent to pay the appartment
- Super slow actually
- Have to deal with so many things, this does not seem part time, at least at the start when you don't have people working for you
- Learning curve and regulations and I don't even know what else
* Become a CNBC expert
- Oh here we go again with the trolling
- Idk I ran out of ideas
- Ye
* Buy a little spot somewhere and start selling sandwiches
- Is this troll or not I can't even tell?
- Hours
- Raaaaa but it suks
* Beg for money
- This actually seems to be the thing at the current time
- Sad, very sad
- Fierce competition from e-girls for lack of a better term
* Learn to trade stocks and crypto alts, to get more opportunities and grow faster
- Overwhelmed with information
- Correlation?
- Just too much to look at
