Give up the day job...
I've not been on here that long now but I'm making decent profits after investing around 1k. Just wondering if anyone has managed to make enough on here so that they can give up the day job and become a "full time trader" if so how much did you have to initially invest and how much do you earn on average per month?
@NewUser141552 Hi mate, sorry to not help with your question but do you mind me asking what strategy you use to make profit? I'm new on here too and apart from just doing long term investments in the likes of CHO and Sancho, I'm struggling to make any profit. Would appreciate any advice, cheers.
@NewUser309471 Hi mate, I have adopted the strategy of trying to diversify as much as possible and built my portfolio around players I think are under priced. I try to do my research before buying and try not to follow trends as much as possible, although admittedly sometimes I get dragged in. Sounds pretty simple Haha but it seems to be working so far.
A few recommendations that I also hold would be:
Lucas Digne- he's up about 20p per share from when I bought him and has earned a few PBs over that time as well as some IPDs as he has popped up with a few goals and plenty of assists. He also takes corners and free kicks which Is always a bonus for a defender. I think there is still plenty of growth left in him as he looks quality and if he keeps performing at that level he might not be at Everton for long
Ante Rebic- he is only up about 5p per share from when I bought him but I think there will be plenty of transfer buzz around him and possibly a move to the prem in the summer. Also again some potential good IPDs as he scores often but plenty of room for growth
Ronaldo Viera- His price hasn't changed since I invested but he's very cheap and also English which seems to help. I think he is a very long term hold but I expect he will get a move to the prem at some point and hopefully a price increase along with it.
My most profitable player is Joao Felix who is up about £1 per share from when I bought him, still think there is plenty of room for growth though as i think there will be big transfer spec around him in the summer with all of the big boys rumoured to be interested. Also he is in the Europa league quarter finals so could potentially win some PBs there and will be a good stage for him to show his talents.
Finally, I also hold a decent position in Rashford who is up about 4p from where I bought him but he has earned a few Media divs and I hold him as I think one day he will be the future king of the index but I may be wrong on that 😂
Apologies about the long winded nature of the post but hopefully it has helped you somewhat. Make sure you do your own research though as you may not agree with my assessments and it is your money after all.
This chat pops up every few months. It normally coincides with a boom in the market and folk thinking the football index world is all sunshine and rainbows.
It is not. There will come a time when you will moan that the footie is falling, and you are losing money on a daily basis.
My advice is to be realistic about the investment and see it as a second income, but don't rely on it.
@NewUser141552 thanks for the advice mate, I'll definitely take it on board. I'm still struggling to change my mentality from traditional betting of 'put money on someone I fancy that day, and expect a big payout if they score/win' to a much more long term and research-dependant platform. I'm really enjoying it so far though so will try and learn and improve gradually :)
@johnboywalker that is how I operate at the minute but would love to give up the day job to do this full time Haha. However I know it's probably not realistic but was just wondering if anyone had actually accomplished it
@NewUser309471 No problem, happy to help. Yeah I would definitely say try to hold more long term rather than just jump on players you fancy for a particular day. I only see IPDs as a secondary bonus, if I am interested in a player anyway and they have got a chance to earn good IPDs over the next 30 days then it's a bonus but would never buy someone solely for IPD.
I'm sure there are lots of people that do and It may even work for them but it's too risky for me
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@HazzaJay212 Thanks for the encouragement! It would definitely be a slow burn for me as unfortunately I don't have massive amounts of capital laying around and so far i only invest what i can afford to lose. But I think if I build slowly and keep injecting cash every month I could get up to a reasonable investment which could then hopefully start reaping some decent rewards
I would personally say unless I was willing to risk puttting in £250,000+, the likely gains wouldn’t replace my salary.
This is part time job regardless how big the money is - timewise i mean. Better off just pumping the wages into it, to get rich faster.
I resigned from my civil service job nearly 2 years ago, and haven't been back since. I joined FI last August and roughly every 2 months I make enough money to cover my rent/bills/food. I'm currently living on my savings/inheritance money, and use FI as an income backup. I made enough money last month with the SS bull market to take care of my next 3 months rent/bills/food (April, May/June), but if I don't make enough money by the time July arrives, I still have my savings backup.
I plan to return to work next year, but if things continue as well as they have on FI this year, I won't need to return to work next year! So basically, you need to have a backup if you want to do this full-time and give up the day job.
@Londoner Big respect to your planning and bravery
@Londoner glad to hear it is working out for you mate. Long may it continue!