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Topic stocks?
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Total Views: 2048 - Total Replies: 6
May 12 2011, 2:46 pm - By zoemorn

How many of you all are using Investing (read "stockplaying") to either supplement or fulfill your income needs as you fulltime RV? This is one area I'm trying to gain extra understanding in, and realize it can be a risky game if you don't make sure to take precautions (trailing stop anyone? Limit orders, Hello?)
Just curious. been researching and considering the fulltime RV thing with my family (i know, sounds insane to do that with a couple kids in tow right?)

but income is the limiting factor, especially with concerns of health insurance.

zoemorn.blogspot.com - don't you dare!  B)
May 13 2011, 12:57 am - Replied by: LiveWorkDream

We'd never do it, way too risky.
Working and Living Our Dream Life
May 13 2011, 2:49 am - Replied by: hitek_homeless

I've done a little off and on. The thing is, I don't have the passion to actually pay attention to what's going on in the markets on a regular basis.

I've made more than I've lost. But now that I don't have to sit in a cubicle all day where I can watch the markets for lack of anything more interesting to do... I find that I'm better off staying out of stocks unless I happen to notice a really good bet on the odd day I actually look at the market.

There's certainly a lot of money to be made in the stock market, and my IRA more than doubled before I quit messing with the markets constantly.

The flip side of the coin is that I've got quite a stockpile of capital losses from gambles that didn't work out so well. At least I can redeem them with the IRS the next time they want significant money from me.

You pays your money, you takes your chances.

A couple of 30-sometings on an ultimate adventure.
May 14 2011, 6:55 pm - Replied by: Technomadia

Stock trading as your primary income source is risky and stressful business, especially when it's more than just yourself you're providing for.  If you have significant cash reserves, I could see it being worthwhile to use some of your funds to slowly start learning it.  But if your resources are limited to begin with, definitely don't bank on stock trading to be your magic solution.  

Try an experiment...  virtually 'invest' and play with $50k (fake money) for a few months and see how you do.  This is kinda like the high school 'carry an egg around all day' to see what taking care of a baby is like.  See what the emotional rollercoaster is like when the market surges and when it tanks.  It's gambling, and it can be addictive. And you can loose everything and even end up in debt if you leverage. 

We invest our long term funds and keep on top of the market fairly closely.. but much more conservatively than a day trader would be doing for day-to-day funds.   Between jobs, Chris once did day trading several years back..  and netted fairly decently.  But wow, was it mega stressful.   I couldn't live on that sort of edge constantly... and much prefer earning my keep by providing services and products of value.   And I want to be able to take a day/week/month off of work without it meaning that if I miss an important trade I could loose out big time. 

 - Cherie
Cherie and Chris / Technomads / www.technomadia.com
1961 GM 4106 - Vintage Bus
On the road since 2006 

May 14 2011, 8:16 pm - Replied by: zoemorn

Thanks for the input.
Stock trading is risky. So is trying to startup a self-made business. So is most things that have the potential for gain. But ya, currently I'm just going to play around with investopedia's simulator and try to gain some knack at watch technical indicators, reading the charts and so forth. I've seen a blog by one gentleman that provides for he and his wife via investing in primarily a strong dividend portfolio, but seems like you'd have to have some significant funds in those for the the dividend income to satisfy needs. But apparently theyre making a go of it, but he is highly educated in finance wheras I am not, ha. so i'll stick to "play money" or simulators for now.

zoemorn.blogspot.com - don't you dare!  B)
Jun 28 2011, 6:32 pm - Replied by: TravelingOnTheOutskirts

I don't have any money to throw around so I can't get into it right now.  IMO It's just like gambling and can get VERY stressful if you keep dumping money down the drain.  Play with a designated amount and keep it that way!

Most places (scottrade, ameritrade, etc.) have a minimum "deposit" ($500). I've been playing the stock market via Google Finance with pretend money (like Technomadia mentioned).  Come up with a realistic amount that you would invest with and see how you fair in playland first. :)  Check out Fool.com & investopedia.com for lots and lots and lots of reading. 

As soon as we get our finances in better shape I'm going to jump back into it.   At this moment that is so far away I don't even think about it! lol *shrug*
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