MULTIPLE Streams of INCOME

[AutonomyRex]

Hey all,

In reading many driver profiles, I noticed that quite a few have another stream of income besides trucking. As do I. Some are as a hobby, some for retirement, some another sideline business and what not.

I trade Currencies. I have been doing this since 2002. I also trade to a lesser extent in Commodities...i.e; Gold, Silver, Oil, Gas, etc... I have helped a few O/O's hedge their fuel costs, by being Long Oil or Heating Oil or even Unleaded Gas.

Technology has come a long way now, 2 years ago I could not trade currencies from my truck...nothing short of a secure landline would do...but times have changed.

So I thought I'd start a thread about earnng another stream of income via "The Markets". It does appear expediters/OTR drivers have the time on their hands to monitor such things. We have the technology or we'd not be communicating as much as we do.


So if anybody is interested...Let's see if we can help each other.

As I said, currencies are my specialty. And as of this week, I am Long the USD/JPY at 80.70 and 81.07. I plan on holding these til at least 86.00 in the near term. Also it pays a small daily interest payment to me as well.

Any Stock Traders...Bonds...ETF's...Commodity...Long Term investors...day traders...indices traders out there????

Run Safe
A-Rex

 

[bobwg]

Just a thought maybe those that are making money from other sources while doing this expediting thing could offer suggestions and I will throw this one out there the people that like to work on there own vans/trucks maybe could do work on the side for other van/truck owners oil changes, etc especially if your sitting some place over the weekend

 

[AutonomyRex]

Doesn't appear to be much interest in other forms of earning passive income while driving or waiting on a load.

My contracts for the usd/jpy ( 2 ) averaged at 80.8850 is in the money. Currently the pair is trading at 81.6200, and i placed my protective stop at 81.2850. Locking in 40 pips of profit plus my daily interest ( which isn't much these days...but today was triple Wednesday! ) . FYI...each pip is worth $20.

One standard lot = $10 per pip x 2 lots = $20

Learning another form of income beats fretting about where the next load is coming from or when.....

Goggle currency trading for more info...not a get rich quick thing, an investment...don't fall for any hype or BS....a great place to start is a site called babypips.com to get an elementary overview...CNBC is NOT the place to learn

Run Safe
Time to shower

 

[fortwayne]

Earlier this year I started working the stock market. I 'manage' my parents portfolio and two other friends.

Your right with all the technology it is easy to monitor the market.

I work mainly in energy, tech and financial.

I use two measures of value for each stock. The first measure is Value, a measure of a stock’s current worth. It factors in discounted cash flows, earnings, earnings growth, profitability, inflation and interest rates. The second measure is called Relative Value (RV), it identifies a stock’s long-term price appreciation potential.

A stock’s value allows you to determine if a stock is currently under or over-valued. Relative Value (RV) is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk.

Its' a process - but beats sitting around dulling my senses and watching TV between loads.

 

[ATeam]

I have been trading since October, 2008, and have learned that successful traders make more money by trading than they do by talking. The little I have to say about trading can be read here.

 

[Phoenix4774]

I just started trading in February of this year and really enjoy it, chart reading etc. I haven't tried currencies or commodities yet, but would like to. I'm gonna start swing trading options eventually as well as stock. I wouldn't mind getting in the dollar if it ever bounces. I have heard a lot of people say to short Japan in general.

What broker do you like for forex, etc? I like Thinkorswim for options, you can negotiate $1.25/contract and their software is great. I have a Zecco account for penny stocks. Choicetrade is now offering up to 500 free option contracts during expirations week every month, that looks good.

What mobile broadband service do you use for trading, one stumbling block I see with "trading while driving" is not having internet sometimes.

I was researching expediting, but am also thinking about just a night (driving) job so I can focus on learning trading.

 

[AutonomyRex]

I have been trading since October, 2008, and have learned that successful traders make more money by trading than they do by talking. The little I have to say about trading can be read here.

That's an interesting view you shared, considering you write so much about expedite trucking. Though I can see your point regarding "talking" about investing/trading as you only have limited experience of 2 years. But all can learn.

The point is to help others by sharing info, experiences, ..whatever. I'd not be trading after 8 years had my mentor not TALKED to me and shared his knowledge.

If you ever want to share more than the little you wrote about in your Link, happy to have you .... maybe others could learn from your experience, the same as you freely share your trucking experience(s).

Run Safe
A-Rex

 

[AutonomyRex]

Earlier this year I started working the stock market. I 'manage' my parents portfolio and two other friends.

Your right with all the technology it is easy to monitor the market.

I work mainly in energy, tech and financial.

I use two measures of value for each stock. The first measure is Value, a measure of a stock’s current worth. It factors in discounted cash flows, earnings, earnings growth, profitability, inflation and interest rates. The second measure is called Relative Value (RV), it identifies a stock’s long-term price appreciation potential.

A stock’s value allows you to determine if a stock is currently under or over-valued. Relative Value (RV) is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk.

Its' a process - but beats sitting around dulling my senses and watching TV between loads.

Hey FW,

I'm not a stock guy myself, Though I can see how RV can work long term. ( I had to google it and read more )....I'm a complete Tech trader....a pure chartist. Good to have a new way of looking at things.

The Tech is the only thing that has kept me on the road, I was gonna stop driving for trading until technology caught up. And it is a great way to stay focused and productive between loads and downtime.

I hope to learn more from you as time goes by...whenever you have time to share. I do have a ScotTrade account....

Run Safe
A-Rex

 

[AutonomyRex]

I just started trading in February of this year and really enjoy it, chart reading etc. I haven't tried currencies or commodities yet, but would like to. I'm gonna start swing trading options eventually as well as stock. I wouldn't mind getting in the dollar if it ever bounces. I have heard a lot of people say to short Japan in general.

What broker do you like for forex, etc? I like Thinkorswim for options, you can negotiate $1.25/contract and their software is great. I have a Zecco account for penny stocks. Choicetrade is now offering up to 500 free option contracts during expirations week every month, that looks good.

What mobile broadband service do you use for trading, one stumbling block I see with "trading while driving" is not having internet sometimes.

I was researching expediting, but am also thinking about just a night (driving) job so I can focus on learning trading.

Hey P...

As a chartist, I can see everybody is BUYing the yen against the dollar.....and It appears time to start selling the Yen...which is what I did this week....I got stopped out for +40 pips on my stop loss. But I am seeking to put on another position tonight...I have a layover til I unload at 10am in Pittsburgh.

Since The US decided traders had to be protected and we had to bring our money back "Onshore", I trade with 2 US brokers...my regulated broker is RJ O'brien in Chicago, and OTC broker is FXCM in NYC.

Verizon is my Broadband service, phone as well. I only trade when I am stopped of course, and the sat feed for me has always been good....of course I don't day trade much on the road, I more monitor an place orders, etc...nor do I over leverage myself...so if I do lose a connection, I am ok....my position either makes my target, or is stopped out.

I don't do options...but have heard of traders that are happy with ToS.

Some added Yen comments released this evening....info only.

Japanese Yen Won’t Remain Resilient to Stimulus, Deflation, Chocked Growth Forever


An economy that has a heavy dependence on one particular sector, has battled deflation on and off for decades, faces deeply engrained credit
troubles and is now pursuing an ever-increasing stimulus policy should reasonably maintain a weak currency. However, these are the conditions
that the Japanese economy and yen face; and yet, the currency is just off record and multi-year highs against its primary counterparts. This is
another example of speculative interests diverging from fundamental reality. This is certainly not uncommon; but the eventual corrections can be
violent (just look at the dollar’s moves over the past three years). In the meantime, the BoJ’s rate decision Thursday morning was notable for
details on the five trillion yen stimulus program the government approved with planned purchases of JGBs, lower grade corporate bonds, ETFs
and REITs. More remarkable in this particular meeting was the revelation that the BoJ moved up its next decision three weeks to November 5th.


Best of Luck to you
A-Rex

 

[skyraider]

I have done the for-ex thing, pips, and all and it was fun.
did not make money at it,,,lost some and made some. broke even most of the time. May get back to it someday. Had one of those screens that had 8 currency's showing movement all day long, and even one screen that showed the dollar rise and fall in real time. was fun,,though, but its gambling on so many variables on what country does this, and that and a rumor can destroy a market in a second.

 

[fortwayne]

Hey FW,

I'm not a stock guy myself, Though I can see how RV can work long term. ( I had to google it and read more )....I'm a complete Tech trader....a pure chartist. Good to have a new way of looking at things.

The Tech is the only thing that has kept me on the road, I was gonna stop driving for trading until technology caught up. And it is a great way to stay focused and productive between loads and downtime.

I hope to learn more from you as time goes by...whenever you have time to share. I do have a ScotTrade account....

Run Safe
A-Rex

ScotTrade is the one I use as well.....quick, ez and fairly well priced for what they provide to us.
I use a combination of software programs to 'run' the numbers. But, as you know the secret and knowledge of the market comes by how you read into those numbers and that is where alot of people fail - that and they take to many risk. This isn't, like it was said a poker game, thus I am a very low risk by the numbers kind of manager.
Look forward to speaking with you down the road.

 

[greg334]

Sky, the thing about Forex is the leverage you can use to buy large sums of currency, the risk is low and a lot of places push the use of leveraging because of the percentage they make on the trade.

 

[AutonomyRex]

Absolytely agree Greg, So many fail for 3 reasons....Fear, Greed, Over-Leveraged. OK, a fourth, sheer stupidity

Any body reading...if trading currencies...Never use more than 10-1 Leverage. And even that is too high. Most fail for this very reason.

Gambling is closing your eyes and rolling dice, as far as I am concerned. Or buying a truck and hoping dispatch can keep you loaded...lol. Crossing the street can be a gamble as well....

Managing risk is what seperates gambling from speculative investing/trading. Also Knowledge is king. Never following the herd either.

Placed a Buy limit order early this morning at 80.50 on the usd/jpy....order filled this afternoon for 1 lot ( 100k ). Pair closed at 80.41. Currently down 9 pips ( $90 ) Actually a net of
-8.8 pips down as I rec'd .2 pips ( $2 ) of interest on the position.

Seeking 84.00 at a minimum....also have buy orders placed at 80.25 and 80.00 to catch any dips. This is a longterm position...not a day trade.

Fort Wayne, I look forward as well.....

Run Safe
A-Rex

 

[fortwayne]

Rex.....you are so correct when you said "Managing risk is what seperates gambling from speculative investing/trading. Also Knowledge is king. Never following the herd either."

In addition you don't let your emotion get in the way, you don't let your political views get in the way, you are here to make money and that is it.

To many people let the ups and downs of a few hours get them to jump the gun and then they wonder why they can't make any money at this.....heck that is why I manage the ports that I do.....my dad (beside being 80) doesn't have the patience or knowledge to do it and the other two guys....well, they lack the desire to learn the trade and that is the one thing you have to have for sure - knowledge - just like you said.

That's what I do alot of research, reading, and more research in between loads.....yea and when I get that 34-hour reset time - - - that is my time to really hit it.

So I am sitting here outside St Louis at 11pm Friday night, heading up to the Detroit area for a Monday run - so a nice run.....with time to do plenty of research for a busy week next week.

Oh and by the way - for us knowledgeable traders YES WE WANT THE GOP TO SWEEP THE ELECTIONS ON TUESDAY.

Why? Less regulations, backing off proposed regulations, and just a much more favorable enviroment for business and that is where we make our money....and that is what we are here to do...in the stocks and in trucking - PERIOD!

 

[AutonomyRex]

LOL...FW, I am doing the same thing tonight, though my eyes are starting to blur.....BIG week coming up....Interest rate decisions just about EVERYWHERE, and elections week also!....Japan pushing up their decision date.....not for the faint of heart, uneducated or uninformed for sure...

OH, Spot on about emotions.....a huge killer, and worrying about "market noise" can cause grey hair as well...Been there!! Still have the grey..lol

I'm dropping in Warren on Monday....Maybe I'll catch up with you

Some info to share with all interested....

Next week brings interest rate decisions from the U.S., Australia, Japan, Britain, and the Euro-zone, along with ISM surveys, ADP employment, Non-farm Payroll data, global Home Sales, Trade Balances, and PMI updates, any of which historically has been able to move prices, and combined will definitely break the October price action deadlock.

Gold Traders???? Heavy consolidation in the gold market has allowed the mid-term chart to form a flat trend-line that may favor a move to test support at 1280 before another leg higher through 1400 can easily happen. Weak momentum reads and a collapsing average trading range have left bullion trade susceptible to speculative attack, although it would seem that the vast majority of gold buyers are in for the long-haul as a hedge against the U.S. administration's destruction of Usd valuations; by default or design.

OIL....??? Every driver should care about this....impacts the bottom line... CV to T/T....also a weak US$ makes Oil more expensive and hits you right at the pumps...

Choppy, sideways, overlapping, and now running out of momentum in the near-term. The trend-line is flat, the momentum read is weak, and speculative interest obviously has found $81 a barrel to be fair value. This chart reflects a month of October trade that held commodity prices higher by default; not in-line with global growth and demand, but in-line with an 8% reduction in the value of the Usd in September. October turned into a wash, and traders will be looking for a break of $85 if the Usd gets weaker, or sub-$79 to confirm that the dollar can gain strength against Cad and Aud.

Run Safe back to the D
A-Rex

 

[AutonomyRex]

Absolytely agree Greg, So many fail for 3 reasons....Fear, Greed, Over-Leveraged. OK, a fourth, sheer stupidity

Any body reading...if trading currencies...Never use more than 10-1 Leverage. And even that is too high. Most fail for this very reason.

Gambling is closing your eyes and rolling dice, as far as I am concerned. Or buying a truck and hoping dispatch can keep you loaded...lol. Crossing the street can be a gamble as well....

Managing risk is what seperates gambling from speculative investing/trading. Also Knowledge is king. Never following the herd either.

Placed a Buy limit order early this morning at 80.50 on the usd/jpy....order filled this afternoon for 1 lot ( 100k ). Pair closed at 80.41. Currently down 9 pips ( $90 ) Actually a net of
-8.8 pips down as I rec'd .2 pips ( $2 ) of interest on the position.

Seeking 84.00 at a minimum....also have buy orders placed at 80.25 and 80.00 to catch any dips. This is a longterm position...not a day trade.

Fort Wayne, I look forward as well.....

Run Safe
A-Rex

An update to currency trade as an alternative stream of additional income.

Updating this post above.

Still holding my 100k lot at 80.50 and I was filled as well on the 80.25 buy limit on a spike to 80.22 on the usd/jpy.

So as of today I currently hold 200k of usd/jpy, with an aggregate price of 80.3750 collecting $4 per day interest for the past 14 days, plus the net gain appreciation of the pair.

As of Friday close, the pair is trading at 82.5200. My trailing stop is very tight at 82.1750....to lock in 180 pips of profit, with each pip equaling $20. ( $3600 usd + $56 interest paid )

Always interested in talking trading and income streams if anybody is interested. Now that I am in a Class8 Straight vs a tractor, I have more time to monitor market.

If none...this thread can fade

Ride Safe all
A-Rex

 

[skyraider]

An update to currency trade as an alternative stream of additional income.

Updating this post above.

Still holding my 100k lot at 80.50 and I was filled as well on the 80.25 buy limit on a spike to 80.22 on the usd/jpy.

So as of today I currently hold 200k of usd/jpy, with an aggregate price of 80.3750 collecting $4 per day interest for the past 14 days, plus the net gain appreciation of the pair.

As of Friday close, the pair is trading at 82.5200. My trailing stop is very tight at 82.1750....to lock in 180 pips of profit, with each pip equaling $20. ( $3600 usd + $56 interest paid )

Always interested in talking trading and income streams if anybody is interested. Now that I am in a Class8 Straight vs a tractor, I have more time to monitor market.

If none...this thread can fade

Ride Safe all
A-Rex

that is a very tight trailing stop, but u wont go broke being that close,, 180 pips at 20 bucks is good days work if u can call currency trading work, well not sweating to death anyway. I was to cheap to play the yen dollar deal,,I did mostly the aussie dollar................

 

[AutonomyRex]

that is a very tight trailing stop, but u wont go broke being that close,, 180 pips at 20 bucks is good days work if u can call currency trading work, well not sweating to death anyway. I was to cheap to play the yen dollar deal,,I did mostly the aussie dollar................

Hey Sky,

Yeah, it is a close stop...but this pair has been so D@MNED fickle in the past, I figure I am not giving up those pips!! OK...THE CASH .. lol,,,hey if you were long the aussie and stayed with it...very nice on the interest alone, gets about 6-7x what the yen pays, plus it going par with the dollar.....nice!

UPDATE: I just was checking the $per pip on the yen, and it is $12 per 100k, NOT $10.....So it is actually $24 a pip at 200k...My Bad, I have to recalculate my P/L...apologies for bad info, and not keeping current......so that 180pips = $4320.

Myself, I thought the Aussie was too high at 95! and I stayed away...

Good luck out there...gotta get ready to put her in the wind for a pick up...

A-REX

 

[AutonomyRex]

An update to currency trade as an alternative stream of additional income.

Updating this post above.

Still holding my 100k lot at 80.50 and I was filled as well on the 80.25 buy limit on a spike to 80.22 on the usd/jpy.

So as of today I currently hold 200k of usd/jpy, with an aggregate price of 80.3750 collecting $4 per day interest for the past 14 days, plus the net gain appreciation of the pair.

As of Friday close, the pair is trading at 82.5200. My trailing stop is very tight at 82.1750....to lock in 180 pips of profit, with each pip equaling $20. ( $3600 usd + $56 interest paid )

Always interested in talking trading and income streams if anybody is interested. Now that I am in a Class8 Straight vs a tractor, I have more time to monitor market.

If none...this thread can fade

Ride Safe all
A-Rex

Just a Monday Morning update: As of 0755edt....

USD/JPY is trading at 83.087 this morning...Target is still 84.00 in the short term, so will leave that in place, as I begin my day.

Have moved trailing stop UP this morning to lock in more profits:

As noted above...Long from 80.375 with 2 lots ( 200k )

Stop moved from 82.175 upto 82.675...keeping it tight, securing 230 pips of net profit + interest ( $24 per pip and $4/day interest ) Retail News is on tap this morning....

A great way to earn passive income while you have downtime to study markets.

 

[AutonomyRex]

Just a Monday Morning update: As of 0755edt....

USD/JPY is trading at 83.087 this morning...Target is still 84.00 in the short term, so will leave that in place, as I begin my day.

Have moved trailing stop UP this morning to lock in more profits:

As noted above...Long from 80.375 with 2 lots ( 200k )

Stop moved from 82.175 upto 82.675...keeping it tight, securing 230 pips of net profit + interest ( $24 per pip and $4/day interest ) Retail News is on tap this morning....

A great way to earn passive income while you have downtime to study markets.

Monday night update:

Stop got a bit close for comfort at 82.721 but survived at 82.675....as of 8pm edt Monday, as i write, yen trading around 83.20....I am moving my stop up to 82.775 for an extra 10pips profit
( $240 )

Moved target price up to 84.33 from 84.00

Holding 200k at 80.375...total net profit 240pips plus $62 interest.

Run Safe....time for bed!