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/biz/ - Business & Finance

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54673466 No.54673466 [Reply] [Original]

After losing around $6000 in the stock market I am going to start from scratches again.

Today, I went to McDonalds for a new job opportunity. I am going to work as much as I can to get at least $800 per week.

Is it too late to make a living off the stock market?

How much money should I save before I start to day traiding again?

>> No.54673570

>>54673466
Keep grinding, keep hustling. Save another $6000 and your good, maybe just manage risk a little more carefully.

>> No.54673576
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54673576

>>54673466
Just be a pleb

>> No.54675486

>>54673466
If you are making 800 per week at mcdonalds and saving it you must be living with your parents in that case get a higher paying job like warehouse or construction or fuck go work on the oil rigs. Invest in crypto for a year until the next bull run and profit 10x more in 1-2 years than you would have at least if you invested in boomer stocks.

>> No.54675511

>>54673466
You should open your own franchise after you learn the ins and outs.

>> No.54675683

>>54675511
You can't just open a franchise.
You need to have sizeable liquid wealth to even be considered.

>> No.54676057

>>54673466
To make a living day trading you need about $500k. You need to make enough in at most a week to cover your expenses for a month at least. You need to cover your expenses then have enough to compound and cover your risk. 1 week’s earnings cover your bills, then everything else goes to compounding. If you could cover a month or more in a day that’s great, but you won’t be able to do it unless you have enough buying power. You can’t just make money trading and then pull every dollar of profit out to cover your expenses. You will suffocate financially and fail if you try that. You have to produce excess amounts of cash. Anything less than $500k and you probably won’t be able to cover bills and reinvest meaningfully back into your operations. Trading is an absolute nightmare to do full time. The only thing that even remotely covers your ass is having sufficient buying power. Unless of course someone else is covering all your bills.