Stock exchange

[VieuxMalin]

Hi folks,

not sure if I am not off-topic here.
However, just wanted to know who of the liveaboards manage to re-fund the kitty by playing on the stock exchange (is it the right way to say it?).
Maybe playing on futures or other things.
A 100 euro per day wouldn't be bad for off shore living.
Imagine buying and selling and making profit while anchored in the pacific...cool uh?
I am studying this option, trying to figure out how much risky it would be.

[Islandmike]

Sell covered calls, you can make 5%-7% per month. Buy the stock and then sell the option.

[Ex-Calif]

You are better off tying up in Atlantic city or Monaco and playing the slots.

[Strygaldwir]

So many ways to make money, so many ways to lose money. Look for Stocks with the greatest yeild and that are with solid companies. Bank the dividends and use that for the kitty. Takes about $150k or so to keep up with the normal cruising cost.

[VV0]2M]

from what I can tell there are three groups of cruisers.

1. Retirees that have planned well and have steady retirement income or pensions as well as a bit of savings.

2. There are the folks that are well off enough that they don't have to slog it out 9-5 and can take extended breaks to cruise. Many of these folks also have passive income from investments like real estate or business income that they don't have to supervise heavily.

3. Then there are the boat people. Those that have just lived the lifestyle all their life and don't know any anything else. Often they are involved in delivering yachts for groups 1 and 2 or working in a boatyard or doing charters here and there to make ends meet.

So yea, I would say that most cruisers have something in the market unless they are pure-bred boat people. And many of those folks are probably saving and investing as well...That being said, there are probably very few people with modest means trading stocks for income while cruising the south Pacific...but what do I know...

[ssullivan]

Originally Posted by Ex-Calif

You are better off tying up in Atlantic city or Monaco and playing the slots.

Ha ha ha!

You know... this is a good observation.

I sure wish I wasn't in the #3 from the post prior to this. Working hard to get to #2, but desperately trying to avoid being #1 before I get to #2.

[airacer]

I sure wish I wasn't in the #3 from the post prior to this. Working hard to get to #2, but desperately trying to avoid being #1 before I get to #2. [/quote]

Hey... your doing better than me.... I'm still trying to get to number three...

[Ex-Calif]

Buy and Hold, asset allocation, diversified portfolio, risk vs. reward, long term strategy, fixed vs. flexible incomes are all words used to describe a cruising kitty.

Market timers are gamblers, pure and simple.

[Troutbridge]

I tried selling covered calls for two years and had very mixed results. It is possible to make 5% per month and sometimes I did.....unfortunately my stock losses ate all of the 5% up. Also, you need good internet access, and I noticed that the periods that I really made money was when I was online and monitoring when the NYSC was open. Unless you're already 'in the market' and trading successfully I have to advise against this. My experience was that contrary to what a lot of people say it was impossible for me to set a trailing stop loss and forget about it. Entirely my failure at trading, but it didn't get much better over time. Incidentally, trading and investing are two entirely different animals, confusing the two can be financially fatal.

[MarkJ]

I would doubt now is the time for a newcomer to be trading. Slowly buying for long term hold might be ok now for risk takers, but unless you are pretty knowledgeable its a good puddle to avoid at the moment.


Mind you, tahts in my paupers opinion! LOL

[Hud3]

Originally Posted by Ex-Calif

Buy and Hold, asset allocation, diversified portfolio, risk vs. reward, long term strategy, fixed vs. flexible incomes are all words used to describe a cruising kitty.

Market timers are gamblers, pure and simple.

Dan speaks the Truth, pure and simple! Spend a bit of time getting it right to begin with, and you can (almost) forget about your portfolio and go sailing. Above all, don't react to the markets, no matter what they do.

[Islandmike]

Sorry selling the calls did not work well for you, it has, and is working well for me. You cant get married to the stock and you cant plan on making a big killing. It is designed to make monthly income. I am very conservative with my trading, however, there is no question that anything to do with the market can be a big gamble. HOKU is one I have made money on for the past 5 months. You need to always have 4-6 stocks, because as you have said, some will lose. Good luck to all in whatever venture you use to make money to Live the Dream..

[GordMay]

According to Mark Twain, October is one of the peculiarly dangerous months in which to speculate in stocks.
The others are July, January, September, April, November, May, March, June, December, August and February.

[David M]

LOL Gordon

There is as much advice about the stock market as there are techniques for making and losing money in the stock market.

At the very least, paper trade before you put any money in the market. Either that or go very conservative as risk and reward go hand in hand. Hopefully you have enough capital in order to live off a small percentage return....like 5% or less. The lower the percentage return then the greater your chances are of making that money.

Very few people make money trading in and out of the market but perhaps you are one of those talented few?

[Latitude9.5]

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