How Goofs Make Over $300 An Hour
September 26, 2007
Before I delve into the heart of the matter of this blogpost I need you to turn on your mental radars and have you take a very important note. Remember this….there are 3 key forms of currency that lifestyle designers or location independent professionals use in order to live the lifestyle they do. Neither one is more important than the other, and all 3 compliment each other accordingly. In no particular order , these currencies simply are…
I have recently received several emails enquiring about the later, more specifically pertaining to how one goes about bringing in a nice chunk of change while still being able to have free control of time and being mobile in the same aspect. Now many of you know methods pertaining to being a traveling web developer, a online business entrepreneur, or using some other form of online coaching or networking to bring about cashflow to supplement the absence of a “cubicle or desk ridden” career . Infact many of you who read this daily, from short conversations I have held with you, have used these vehicles to accomplish this. Kudos to you!!!
For anyone who has yet to reach this supplemental income and yet still yearns to, but are not necessarily intrigued by the thought of an online start up, let me suggest a method that I have found invaluable in being able to have the third of our currencies flow in while you yourself aren’t necessarily tied down to a location limited profession. This method is valuable in that when I put it into effect I can go from an individual used to earning $20 an hour to an individual who earns $300/hour or more.
Got your attention yet?
THE MADNESS BEHIND THE MAYHEM The way that I do this, and it isn’t necessarily practiced by many lifestyle designers(at least not that I hear commented about) is through online stock trading. Now before you go running in the other direction while rolling your eyes at the last sentence let me explain something pure and simple that caught ahold of me several years ago…….Stock investing is not as risky as the PROFESSIONALS make it out to be. Remember these two things..
1. THERE IS A SYSTEMATIC DESIGN TO EVERY ASPECT OF LIFE. (Even the stock market)
Each aspect of life has a system by which we are taught to operate by.
2. EACH SYSTEMATIC DESIGN CAN BE ALTERED USING THE PROPER, KNOWLEDGE, AND TOOLS .
Reality is bendable despite what you are taught.
So don’t let what these so called professionals tell you as far as risk is involved. Its nonsense. The stock market, like everything else in life can be tweaked to your advantage. I never was a fan of investing or the stock market until I learned how to manipulate it, and at that point it became my best friend. It took less than one year of gathering some very simple and readily available information and learn how to put it into proper use before it changed my financial outlook forever.
I am a technical analysis trader meaning I buy and trade based on charts and what they tell me about a company at that point. One of the most popular technical traders at the moment is popular guru and online mentor Phil Town. Phil has a widely popular book that explains the simpleness of a method similar to the one I use which I suggest purchasing if at all possible. With that said, the simple structured plan that I go about when trading is this…..
Be willing to find a company you know is going to grow @ a good rate based on your standards given you in the book.(About 1-1.5 hours work)
Buy the company at a heck of a price when 3 easy charts(which can be accessed on MSN for no fee) match up . Reading these charts is like a cakewalk, so don’t let the thought of technical analysis scare the day out of you.Take a look at these charts about 30 minutes before the market closes .
Based on information you know, if the charts say to sell then sell and reap your rewards, if not then hold the stock and ride it out for more money. A quick glance at the charts takes all of about 5 minutes per day, the large part which is spent logging online. So this isn’t exactly hard rock pounding labor on your part.
EVEN GOOFS CAN DO THIS
An example of how this works is this. On August 22 I purchase 68 shares of Foster Wheeler(FWLT) @ $100.76 per share . Looking into the company and deciding if I was buying it at a good deal took about an hour and a half of work. I go online to a broker such as Ameritrade and place my order. A couple of clicks and my work is done for the day.
Each day after this I go online @ 2:30 PM CST to check where the stock is for the day. The reason I check at this same time each day is because the market swings up and down during the day, meaning so do the stock charts. By checking at the end of market close I know where the chart is more than likely going to sit for the remainder of the day. If the charts match up and all is well I keep the stock , if not I sell.
It takes a duration of 7 days doing this, each day taking about 5 minutes out of my schedule to check the charts , before I sell FWLT. So on August 29 I go online and sell my shares of FWLT(now which are going at $109.83) for a nice little gain of $596.66 .
It took me a total of 2 hours total time make this amount (the initial 90 minutes it took to do research and buy it along with the 30-35 minutes combined total time that I checked it daily). So relatively speaking I make close to $300 an hour for my work.
The funny thing is that I goofed and misread the charts that day. I should not have sold and in fact if I would have kept and held the stock I would be banking alot more an hour than that. So yeah, I’m really kicking myself in the arse on that one. Should my wife read this she more than likely will be kicking my arse too!
If a goof like me can do it, anyone can!
Now when it all comes down to simply restructuring your thought process and manner in which you go about this, just like anything in life, it becomes minimal and simple. The fact that if your portfolio is made up of just several companies such as this that provide an adequate amount of gain you can be set and up your average income per hour very easily. It again covers supplementing our third currency I mentioned in the beginning. It also leaves room for our other two currencies so that one can dream of traveling and cultured events such as this one rather than having to face craziness like this. Just another reason you may want to get out of the office a little more.
As you read this you may notice the nice and official little “beta” located beside the blog title towards the top. Handy huh? Within the next month there will be some handy little tweaks to the blog, as we will be “pimping it out”. Meaning you get a made over Lifestyle Maverick blog plus you will get a chance to see pics of my ugly mug finally. For those of you who know me, Im sure you are running away at this moment…..
Golden money head pic provided by rux-shots