A couple of sayings for youA little profit is better than no...

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Old Man

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10/02/24

13:00

Post #: 72338382
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Originally posted by mixie: ↑

In a little 3rd world South East Asian country I would respectfully disagree there is an easier way to make a buck. My partner is an elementary school head teacher, her net pay is around $600/month which is a higher than average income for here. My monthly expenses are $500. I find her invaluable when considering taking a profit which I wouldn't usually. Example, earlier in the week I was sitting on a $200 profit thinking but it's ONLY $200, might be $300 in it, my greedy mind on Australian income comparison. She reminded me it's 1/3 of her monthly income sitting there for the taking for a few hours "work", so I took the $190 net profit, SP drifted back under that profit shortly after. She also reminds me frequently if I saw a 1000 peso bill ( ~$25) lying in the road , would I pick it up? Or leave it, expecting to find a bundle of them further along the way? No, any sane person would pick it up. When living in Australia I would never consider a <$100 profit trade as I deemed it "not worth it" compared to my income at the time and when brokerage is taken into account + tax. However, since commsec has dropped brokerage to under $5 for <$1000 trade AND allowing orders far less than $500 under certain conditions, I'm quite happy to snag an easy $20/$40 profit day/hours trade after brokerage, they all add up . Plus yearly income required is easily within the tax free bracket. Yesterday pip traded BPH + ENV oppies with 50k or less parcels for $120 net profit. $30 here, $90 there haha, $500 monthly target on track, weekly target done in a day.
I have found lowering of profit targets hugely beneficial to my trading. Years ago when working in Australia I would be sitting on a $2000-$5000 ST profit, not taking it because I wanted more, the BIG one, it's ONLY a months income etc, only to see it wither away as the SP inevitably tanked. So many times tsk. Cost of living in Australia seems more expensive than ever from what I can see from afar, but there ARE other options.........

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A couple of sayings for you

A little profit is better than no profit and a little profit is even far better than a loss

A bird in the hand is worth two in the bush
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