How to make some $£$ Right now...For reals.

[dustylocks]

Whats up peeps. So I've been doing the #2017flipchallenge

It's simple really. Basic flipping of under priced items on the market. But the magic lies in developing your ability to make money anywhere, right now, with no skills and little resources. You can literally start today, all you need to do is put in some time. 

As an example of whats possible, over the last 2 weeks I've made around : £800 

Post results in here if interested!

 

[Shroomdoctor]

6 hours ago, dustylocks said:

As an example of whats possible, over the last 2 weeks I've made around : £800 

By buying and selling stuff or by selling stuff you already own?

[Hsinav]

9 hours ago, dustylocks said:

all you need to do is put in some time. 

Thats not a small thing.

[dustylocks]

@Marco_the_Ape A mixture...You'd be surprised what you have lying around that you can sell. Use that as a foundation to build off. 

[dustylocks]

@Hsinav I'm not really sure what you're trying to point out

[dustylocks]

@ZX_man Sweet! Wish I could say the same I don't need much, though in the future I'd like to have enough to do some interesting projects.

[Hsinav]

10 hours ago, dustylocks said:

 

@Hsinav I'm not really sure what you're trying to point out

 

To make money. Time is a very valuable currency 

[dustylocks]

@brovakhiin Ha same, but on runescape..use that entrepreneurial spirit  Gary Vee is great...and I definitely recommend him. He focuses on branding, social media and building awareness..he also has a great ability to predict where attention is going. Very interesting frames. 

[Principium Nexus]

I trade cryptocurrencies with massive returns .

[dustylocks]

@brovakhiin Cool, I like it. Crypto is an interesting train. I'm getting involved in helping to market a cryptocurrency in the new year called LightBlue. Should be fun! 

[Principium Nexus]

@brovakhiin  I'm a professional daytrader yeah, making living off it atm. Buy low sell high is what it is in short, but there goes a lot more research and technical analysis of trend in it

Note: If you want to start trading, never trade with money you cannot afford to lose. Start small, learn proper trading techniques, risk management and most important learn to control your emotions!

Edited December 4, 2017 by Principium Nexus

[dustylocks]

@Principium Nexus I've always been interested. How long would you say it takes to educate yourself before you can start making reliable money? IF that's possible to quantify. 

 

[Principium Nexus]

@dustylocks Getting a good headstart with knowing important techniques is great. Experience however can only be gained over time, the first two or three months you will be making many mistakes and it would be kind of gambling. When you advance you begin to understand the underlying patterns, mechanisms and reverse engineer the thinking of a buyer or seller. A good trader knows when to enter, where to enter and where to exit. Always have a plan, dont trade emotional just because you see price go up with 10's-100's% or you could be buying the top.

It's wise to follow a few good traders too, learn how they see, maybe ride along to learn how to use an exchange.

In the end 80% loses, 20% is profitable but only the 1% can really live of it.

I can plan trades far into the future because I understand how the trend evolves. Start to trade with small amount, maybe $20-50 so you still feel like there is something to risk but not too much if you were to lose it.

I have lost several thousands before but also regained it many times over. Now i'm getting towards consistent growth which is what we want after all. If you have really big gains but also big loses it doesnt say much, more of a gamble then.

If you were to trade cryptocurrencies you could check out poloniex.com

For proper trend analysis I would suggest to make a free tradingview.com account where you can get charts with more precision, tools and various indicators.

[Socrates]

@dustylocks I had watched this video when it was released and I had put some stuff aside in order to sell them but I wasn't getting the technical ebay stuff. 

Any video recommendations for shipping, how to list items etc?

Thanks for the reminder. 

[dustylocks]

@Socrates Yo. Yeah, in Ebay check the left column in search and press 'completed items' This will give you a complete history of the item in question and how much it sells for+how often (and when it doesn't sell). From here you can make an educated guess  on how much to put it up for etc. 

You can determine shipping prices within ebay itself, it will guide you through the process. And also be aware that Ebay charges a small amount per transaction (10% I think) 

If still stuck just Google the terms "how to search for completed items ebay" 

Also use goofbid.com it has a load of great ebay tools. Super handy!!! 

[dustylocks]

@brovakhiin I think when you absorb yourself in things that require a lot of brainpower, this happens. Especially during an intense learning phase. It depends what you want out of life. Its easy to sit on a mountain and be zen. Doing the same while in a battleground is a different beast. 
Its a choice I guess. Maybe the challenge is worth it? Maybe you want to opt out? Only you can answer that. There are no solutions though, except the ones you find yourself! 

Nic

[dustylocks]

@Principium Nexus Amazing response, thanks! I read 'the intelligent investor' years ago, and several other books. The area has always fascinated me. Thanks again for taking the time to write this thoughtful and detailed answer. There's a lot of good advice there especially shadowing someone who has skills. 

[Natasha]

@dustylocks They say 'Penny saved is penny earned'. Become a minimalist.

[Toby]

On 4.12.2017 at 0:09 AM, Principium Nexus said:

I trade cryptocurrencies with massive returns .

How massive are these returns compared to the "normal" growth? For example, did you make more than 600% in the last 6 months?

[dustylocks]

@Natasha You're assuming I'm not? Unfortunately I live in a society that uses money to survive, and being who I am..I want some volition over my direction in life. Part of that means using my initiative to survive.

Thanks for your advice though

FYI part of this challenge is to sell all the stuff you don't need...so yeah, become a minimalist

Edited December 9, 2017 by dustylocks