I have the ingredients, but I do not have a plan

[Jodmv]

Hello everyone,

This is the first time I post a thread in this forum, even though I read the TMF many years ago.

I don't know if ever happened to you, when you feel like you have knowledge enough to build something, that you are specialized in one niche, but you lack creativity or a plan so scale it. That is exactly how I feel. And it's frustrating me.

I am a 28 year old guy from Spain. Since I was 18 I always had very clear that I didn't want to depend on the salary of a 9-5 job, so I started with arbitrage betting while at was at University and scaled 500$ to 20,000$. I spent some of those in traveling, and learnt how to trade stocks, fx, crypto, commodities.. with the aim to keep growing my net worth. Afer struggling many years I managed to convert them into 300,000$.

Day trading allows me to save the 100% of my wage from my 9-5 job (3,000$/month) since I'm only spending a part of my trading monthly profits. Obviously, there are good months and bad months, good strikes and bad strikes, but I manage to keep saving money at a good pace.

Overall, I am in a good situation and I can have a decent lifestyle, but I need to find a plan to scale everything out. I feel afraid to leave my corporate job and focus on trading, because it is stressful and I don't know how my mind will react after a bad strike given that I will not have a fixed wage income every month. At the same time, trading depends a lot on market conditions, and market conditions are not always "trading-friendly". Plus, I have to put time on it. That means that overall I work 9 hours per day (1h to go / come back from the office), plus 2 hours per day on my trading (setting up plans, alerts, being up to date with the market trends...). That is 11 hours per day + 1,5h (gym), + 7h (sleep). That is 4,5 hours per day left, which I use for socializing and growing my Twitter account.

My problem is that I do not have any passive income. I am not near the fast line. Im trading my time for money in everything I am doing, even if the money is somehow decent. I need a plan to change this situation.

My area of competence is trading / investing. I thought about growing my Twitter account and when I have enough followers to build online courses and to promote them there, but there are so many of them, specially nowadays, that I don't know if it's a good idea anymore. Also, some guys share this information for free on YouTube / Twitch.

I guess in this life you have to become very good at one thing. I am passionate about trading, I enjoy trading, I am objectively decent in this space, but: 1. I don't have balls to leave my corporate job and try to work things out and 2. I don't know if building online material and selling them is a good idea anymore given the overbooking of this kind of stuff.

Sorry if this thread is kind of messy, but I would love to get inspired by anyone who has been in a similar situation: Found his passion, got decent at it and... found a way to monetize in a scalable way.

 

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[KiwiEC]

If you have read TMF a couple of years ago, I suggest you to read it again.

One of the key quote from the book is "Better to regret your failures than to regret not having tried.". Or at least something like this (not sure to translate it perfectly, I have the book written in french, but you got the point).

About your project in finance, congrats for making 300k$ from a few k$.

You seem to have some skills in trading. Will it be your way to get financial freedom? I don't know. On the paper it fits all the CENTS rules with Control as an exception because you are relying on the markets. I prefer to see markets as a passive income (with bonds or dividend stocks for example) but only after having earn enough money to maintain a great lifestyle.

 

[Jodmv]

If you have read TMF a couple of years ago, I suggest you to read it again.

One of the key quote from the book is "Better to regret your failures than to regret not having tried.". Or at least something like this (not sure to translate it perfectly, I have the book written in french, but you got the point).

About your project in finance, congrats for making 300k$ from a few k$.

You seem to have some skills in trading. Will it be your way to get financial freedom? I don't know. On the paper it fits all the CENTS rules with Control as an exception because you are relying on the markets. I prefer to see markets as a passive income (with bonds or dividend stocks for example) but only after having earn enough money to maintain a great lifestyle.

I am finishing to read it these days for the second time. Super refreshing.

I will read the CENTS thread. Thank you for sharing it.

And yes, I would like to view the markets the same way. Positional trading (investing over the long run based on a low-priced entry, such as after a crisis) could be seen as "passive income" but of course is not as easy as it sounds to spot the right moment + most of the times you have to wait YEARS until this opportunities show up.

For now, I bough a Twitter growth manual that a member of the community shared in another topic. At least I feel like l'm moving forward.