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  • Profile photo of trisha007trisha007
    Member
    @trisha007
    Join Date: 2004
    Post Count: 85

    I think I would like my weekly passive income to be at least $2000 this would enable me to do all the things I dream of.

    As for how many houses? I think I’d need about 25 houses maybe more.

    I havent exactly worked out a strategy yet for achieving this as I am still gaining all the knowledge i can in order to make it happen.

    I dont think being rich will make me happier just free to choose!

    Happiness is a state of being inside the body, regardless of what is happening outside – ie we control happy thoughts![biggrin]

    “Being rich” is relative to each person.

    ‘We are all rich if we choose to be happy’

    Trisha[^]

    Profile photo of agileagile
    Participant
    @agile
    Join Date: 2004
    Post Count: 50

    I agree Trisha. Being financially independant allows u to make choices.

    I also believe that money/material wealth will not bring happiness or fulfillment.

    I believe the real danger in just having financial goals is that what happens when u achieve them. Sure u may say travel, nice car, harbourside mansion. But are these lifelong fulfulling goals

    But say (as I have read) someone retires at 40-45 and the average life expectancy is 80-90, what do u do for the next 35-50 years.

    Please do not take this as an attack. I do not wish to judge. i aim to be financially independent too like most people on here. Also i am still working out my goals beyond financial independance.

    Out of interest we are a LONG way from financial independance and are only in the process of buying our 1st (my wife and I) IP.

    Regards,
    Tim.[exhappy]

    Profile photo of techatecha
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    @techa
    Join Date: 2004
    Post Count: 79

    Sis.

    By all means post the results.
    I can keep an eye on them at the office.

    Just a one thing.

    Could you post your total contract holdings on each option, so I can just do a little spread sheet to watch.

    Thanks
    Muchly make it easier.

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of Still in SchoolStill in School
    Member
    @still-in-school
    Join Date: 2003
    Post Count: 1,844

    Hi Techa,

    sure can here is a list of today’s trades, i have some other ones, but there medium term stuff… with no much happening…

    though tomorrow will be looking in at maybe buying BHP5T NOV $14.50 puts, though that will be depending on market condiitions… though on a fibinaci retracement levels… BHP looks like it may swing down near the $14.00 mark… though… BHP puts i have been trading in and out of… though depending on tomorrows technical and market analysis, possible puts in BHP and WPL

    still holding todays current positions,

    Going Long On

    NCP6S Nov $12.00 Calls – (33 contracts bought this morning) currently also holding another 27 of the same. (bought in at .195 cents, previously bought in at .21cents)

    AMP59 DEC $6.08 Calls – just keeping on accumlating it, on its dips… profit target on the share is $6.70 and above (bought in at .38 cents, sold 13 contracts at .52 cents, still holding another 13 contracts

    Will be selling FGL3S, bought in at .15 cents currently trading .235 – .265 cents (didnt sell, not sure of exactly how many contracts, but will be selling if FGL can rally up to $4.98)

    LLC2O Nov $11.50 Calls for 13 contracts at .39, last ask at .43, but closed on .39

    holding on to some WBC28 Calls, bought in the other day, but at about a 20% loss, though.. letting these ones have a rally.

    The rest are of the moneis are in some larger growth stocks, some specualtive positions such as MUL, OEX, MCR & SES…

    though i trade in and out of positions on a daily basis (options mainly, some MUL and OEX in and out), my growth stocks i dont touch.

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of wayneLwayneL
    Member
    @waynel
    Join Date: 2003
    Post Count: 585

    Techa,

    Looking at the risk SIS is taking on, there would be no problems with those profit figures…on a good run.

    The interesting thing about risk is that the normal 2% risk touted in most trading literature is extremely sub-optimal.

    The ideal risk to maximise profit (presuming a positive expectancy, and depending on the charactaristics of the trading system) is somewhere between 15% and 25% (i.e. on a fixed fractional basis)

    This is how the Williams clown famously turned the 10k into a million in the trading challenge.

    Of course the $ drawdown would scare the crap out of you and I and be almost impossible to trade psychologically. Even SIS’s risk is conservative by this standard.

    I would not be comfortable with that risk AT ALL…or even SIS’s risk. But I’m a bit of an old fart compared to sis…got responsibilities,eh!

    But SIS is 21 or 22 I believe…a different story. He may crash and burn… but he might not also. If he blows up his a/c, no problems just start again. If you or I blow up our a/c…catastrophe!! (you’d be alright, youv’ve got your business…trading IS my business)

    What makes me not particularly doubt those figures is that if I cranked up my risk to just 5-10% fixed fractional I would have tripled my a/c so far this year. (The the opposite is also possible…a scenario I am not prepared to contemplate at this stage of my life.)

    I know you’re big on brokers statements but I wouldn’t show them…but I never say how much I make either.

    Cheers

    Profile photo of techatecha
    Member
    @techa
    Join Date: 2004
    Post Count: 79

    Wayne.

    I used to be early 20s once and remember wanting the world to be impressed with my endeavors.
    SIS doesnt yet realise that the best accolades are those that arnet solicited.

    Just a quick tally of SIS’s value of positions puts his current holdings at around $300/350,000 from what Ive seen thats well above his net worth!

    While I have no doubt SIS trades derivatives,his position size would be considerably less.

    Wayne asking to see audited trading statements is the Great leveller.This is where they ALL blow up.

    Happy to pump their tyres publically but full of secret peoples business when asked to varify their claims.

    This Ive found to be true for both the Public and most professional snake oil merchants.Im sure Im not alone when saying Im happy for people to quote figures provided they can be varified,they and those totting them have no credibility if sidestepped.
    If they cant be varified the only reason for their inclusion is to feed the presenters own ego or to mislead.

    If you cant or dont wish to prove $$ claims then do as you do Wayne—Dont disclose them!

    tech

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844
    Originally posted by Still in School:

    though tomorrow will be looking in at maybe buying BHP5T NOV $14.50 puts, though that will be depending on market condiitions… though on a fibinaci retracement levels… BHP looks like it may swing down near the $14.00 mark… though… BHP puts i have been trading in and out of… though depending on tomorrows technical and market analysis, possible puts in BHP and WPL

    Wanna Talk About Stocks

    Hi Techa,

    being honest and humble here, if you did see BHP today you will have noted that it did trade down to and rallied along the $14.00 mark, a 60 cent drop…

    if, i am in sydney next time, which will be at the end of the month, i will be meeting up with some of members from here, if you want, i will be happy to show you how, $14.00 was predicted and that BHP was gonna drop hard.

    but if you would like, im happy to pm you, some details on my trading strategies.

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of AesopAesop
    Participant
    @aesop
    Join Date: 2004
    Post Count: 2

    Great story wayne!! See you there!

    For me, what willl make me rich is to have the freedom to learn what excites me (Acting) and to help others achieved the freedom to do that also.

    Why climb to the top of a mountain, only to find there is no one to share the view with?

    Profile photo of techatecha
    Member
    @techa
    Join Date: 2004
    Post Count: 79

    SIS.

    Thanks for the generous offer.Im in Adelaide.

    Just a couple of comments.
    (1) BHP gapped down on Wednesday
    (2) BHP gapped again today.

    Your not seriously suggesting that due to a fibonacci (Note the spelling!)level falling at around $14 that THIS WAS the reason for the fall!!,and as such made the fall predictive!

    SIS,I and every fund manager in the world along with Leonardo Fibonacci would love to be mentored on how you can make ANY technical tool predictive.

    techa–tech/a (derived from Technical Analysis)would enjoy such a discussion and demonstration.
    Perhaps here is not the vehical.
    Would a more appropriate area be where you OR I spend our times in discussions on trading matters.

    Mine is here.

    http://www.reefcap.com/ubb/Forum8/HTML/000091.html

    The link is direct a discussion on one of my systems published for the public.

    I know where yours is SIS just let me know.

    OH BTW had you decided today to buy BHP puts the Gap down would have killed you.The market makers dont set their spreads until 30 mins after open (They arnet dumb)At which time youd have got $14.08 on the underlying.Had you bought yesterday which you didnt because of a large number of “Thoughs” (Which by the way are just as effective in making a predictive decision as a Fib level on a chart!)then you would have profited well.

    Looking forward to ‘Learning something’!

    tech

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of trisha007trisha007
    Member
    @trisha007
    Join Date: 2004
    Post Count: 85

    Thanks Tim,

    I only have one -ve geared property at the moment so am a long way off financial independence also.

    I need to work out a plan as well so it may be a while before I am free of the “restraints” of working life!

    Trisha[biggrin]

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844

    Hi Techa,

    sure would be happy to join the dicussions at reefcap.. [strum]

    look forward to more knowledge and learning.

    Cheers,
    sis

    Happy Trading

    Wanna Talk About Stocks

    Profile photo of WRxb0yWRxb0y
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    @wrxb0y
    Join Date: 2004
    Post Count: 5

    filthy
    [medieval]

    Remeber the name, you WILL see and hear it for years to come !

    Profile photo of NaughtyJonnyNaughtyJonny
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    @naughtyjonny
    Join Date: 2003
    Post Count: 33

    How rich would I LIKE to be?

    $10,000,000 would be a nice start with an earning potential of around $600K per year.

    Basically my idea of “wealth” is that I am always able to increase my capital by at least the CPI each year by spending less than my passive income.

    Using the above amount as an example, if CPI was running at 4%, and a decent return on investment was 6% and my ‘cost of living’ was 100K per year, then I would consider myself ‘rich’ if I had $5M (the 2% difference of $5M = $100K). Any less than that would effectively eat into my capital :)

    Rich, to me, is earning enough that you never need to eat into your capital AND that capital keeps up with, or exceeds, inflation.

    Profile photo of wealth4life.comwealth4life.com
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    @wealth4life.com
    Join Date: 2003
    Post Count: 1,256

    Hi Jonny you will notice that you are one of the few people who have actually put an amount down, well done!

    The interesting thing I found was that when you are building up personal wealth one struggles to reach a cryitical mass which then becomes perpectually increasing.

    Simply people with money accumulate money faster than people without or who are building up, this is why starting is so frustrating. Thats why its easier for Steve and Dave to buy one property every 11 days and others struggle to get started.

    The more money you accumulate the greater returns you can command, last week I invested $150,000.00 cash for a 30% return for two months (15th december) or anualised 120% return. I get these deals all the time, and whats better i will only pay 10% CGT on the 50.

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844

    Hi ResidentialWealth,

    i like the sounds of that return… but better still i like your CGT… Well done!

    one thing you mentioned, and somewhat i do believe is true is how accumulating money can be very fast for someone who has, to someone who might not have…

    just another example is, compared to what most people have done and why it slows them down is…

    most people work for money and it may take 1 year to save, why save when you can borrow… and use the borrowsing as a way of leverage… (then again, theres the conservative investor vs the aggressive investor.)

    but to build wealth… the use of leverage and OPM, can increase profits substainly and increase losses dramatically…

    though another thing too is, and this i feel is important that most people, who do investing and own a few passive assets appreicating assets, can manage there money to risk exposure with an excellent return (a tidy profit with lesser risk),

    … where as someone who might not be too educated on money will think to make returns or profits you need too take big risks to make big returns.

    Cheers,
    sis

    Quick update too…

    WBC 100% return in a couple days
    FGL Almost 100% return over a week period
    LLC Over a 100% return in a couple days

    the others there still going up.. but these trades, werent huge risks, ive added more positions now were some handsome tidy profits are showing, but it was just some good management skills and discipline. (and technical analysis)

    Happy Investing!

    Wanna Talk About Stocks

    Profile photo of techatecha
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    @techa
    Join Date: 2004
    Post Count: 79

    SIS.

    Could you be kind enough to send me a copy of that LLC contract with 13 plus contracts bought 13/10 and now up over 100% thats $50K in a few days.Also the NCP contracts which you still have I presume thats 60 of them They would be down around $30K at this time possibly more.

    I just dont want to be hoodwinked by a braggard,Im sure you understand.Once I verify with your broker authenticity Id be very happy to take up your offer.Thanks.

    The most impressive trading I have EVER SEEN and if correct will definately fly to Sydney where Ill take up your offer to mentor me.Ill even set you up for a day or so in the Complex of your choice.

    My email is [email protected]

    Thanks for your generosity.

    John

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of Still in SchoolStill in School
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    @still-in-school
    Join Date: 2003
    Post Count: 1,844

    Hi Techa,

    sure im happy to send you that contract and holdings for that day, im still holding those positions currently, so if you would like you can, check the price of those options… to what they are currently worth. (Given that the contract is showing the current value of the options on that day.)

    lol.. though… $50k i wish, i trade between $5k-$10k per an option position, hold usually between $15 – $35k worth of total options positions in total for any day… other than that if it is a blue run… i will start averaging up profits. (and add $5k at a time to Options positions)

    If you want to see my other Contracts (for stock) that have been bought recently on Friday (I think around about a $80K – $120k), im happy and humble to show the proof.

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of Still in SchoolStill in School
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    @still-in-school
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    Post Count: 1,844

    Hi Techa,

    just emailed you my options holding and positions for that day, also just sending you a copy of my tax invoice for positions such as AMP that were sold that day…

    this tax invoice, will show you all the mentioned options bought and sold that day.

    were as options such as AMP was only held for a day or 2 and a 36.8% return was made

    Cheers,
    sis

    Wanna Talk About Stocks

    Profile photo of techatecha
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    @techa
    Join Date: 2004
    Post Count: 79

    SIS.
    Thanks for your trading statement.
    Suffice to say that the quantity traded $ wise is far less than I expected.
    Plus you postings havent been balanced with the losses you incure.

    I note your net negative.

    Anyway a great effort to email me your statements.
    Your enthusiasm deserves reward and Im sure youll be challenging Donald Trump b4 long.

    tech

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

    Profile photo of techatecha
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    @techa
    Join Date: 2004
    Post Count: 79

    Yes with open positions.
    Keep me posted through email if you like.

    Humans are the DUMBEST of creatures.
    They do the same thing day in day out and expect a DIFFERENT result.

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