Side-hustles - what's yours and how do you make it work?

[deleted126335]

Your experience of 1000% returns is completely typical and reproducible. Why are you even practicing medicine if you can get these returns? You're absolutely outperforming any actively managed fund out there.

Please post your previous and future trades so we can take advantage.

The first business days of the new year are usually volatile. Please let us know what you are doing.

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[sevo00]

I don’t know why people think investing is hard. I just started trading this year on my time off (every other week) and have turned $35k into a little over $400k. Had no knowledge of the stock market......just picked up book and started trading. Mostly day trade and weeklong swing.
I have a young family so I am not day trading all day long. 2-3 stocks in and out first hour.

lmao. The market has been on an upswing since March. Literally everyone has made money this year if they bought in during the March lows. It doesn’t take a genius to make money in this type of market. Continue these gains you’ve made for the next even couple years....then we would be impressed. Warrant buffet is literally one of the richest men in the world and if you look at his annual return year by year it averages out to 20% through his career. New “day traders” really are the funniest...it’s like someone getting lucky for a couple rounds of Russian roulette at the casino and thinking they really can’t lose

 

[GassYous]

A different approach to asset allocation - Bogleheads.org

Guy who started making a little money and then totally got destroyed by the market. Not saying you're overleveraging but I can see a bunch of threads in the future about people who were too confident in a fake bull market that was propped up by the fed.

 

[epidural man]

A different approach to asset allocation - Bogleheads.org

Guy who started making a little money and then totally got destroyed by the market. Not saying you're overleveraging but I can see a bunch of threads in the future about people who were too confident in a fake bull market that was propped up by the fed.

Fake bull market - so true.
I loved this video (second awesome video I have posted in this thread).

 

[leaverus]

I don’t know why people think investing is hard. I just started trading this year on my time off (every other week) and have turned $35k into a little over $400k. Had no knowledge of the stock market......just picked up book and started trading. Mostly day trade and weeklong swing.
I have a young family so I am not day trading all day long. 2-3 stocks in and out first hour.

Damn, why didnt you tell me! you could have made $450K. If you'd told me, I'd have let you turn $50K of my money into $500K and let you keep 10%.

 

[okayplayer]

Damn, why didnt you tell me! you could have made $450K. If you'd told me, I'd have let you turn $50K of my money into $500K and let you keep 10%.

She was too busy shorting the S&P this weekend..

 

[neurochica]

Damn, why didnt you tell me! you could have made $450K. If you'd told me, I'd have let you turn $50K of my money into $500K and let you keep 10%.

Keep an eye on $fubo. Long term it has potential for $75-$100. $ipoc merger this week.
Best wishes

 

[neurochica]

She was too busy shorting the S&P this weekend..

Have never shorted, but I did get over 100% with $chek and $BNGO this morning. 50% on $jagx.
Good luck

 

[PainDrain]

Keep an eye on $fubo. Long term it has potential for $75-$100. $ipocmerger this week.
Best wishes

Have never shorted, but I did get over 100% with $chek and $BNGO this morning. 50% on $jagx.
Good luck

Curious but how are you coming across these gems before they pop? I mean having done a few minutes of investigating all of those stocks, with the exception of Fubo, are complete garbage. The Cap Check technology will never make it to market in the US. Jaguar makes an anti diarrheal med for a niche group (HIV) and dogs.

 

[GassYous]

The graphs are interesting, these stocks are worth jack and then all of a sudden they shoot up.

 

[Southpaw]

Have never shorted, but I did get over 100% with $chek and $BNGO this morning. 50% on $jagx.
Good luck

You knew the top 3 of the ‘biggest stock gainers of the day’ before the day began? Impressive!

 

[neurochica]

Curious but how are you coming across these gems before they pop? I mean having done a few minutes of investigating all of those stocks, with the exception of Fubo, are complete garbage. The Cap Check technology will never make it to market in the US. Jaguar makes an anti diarrheal med for a niche group (HIV) and dogs.

you need to do more research into SPACs.
QS went from $9-120
DKNG from $10-50
SBE went from $9-39
GOEV went from 0-22 etc.
IPOC will go to $30 by the end of the month.

Been day trading jagx since it was 0.39. expect PR soon...hoping for at least $3.
Been trading BNGO since dec29 when i got in at 1.9. this was a covid play, was not expecting autism news this morning.


I dont think these are garbage. I guess we will see by the end of the week.

 

[okayplayer]

You knew the top 3 of the ‘biggest stock gainers of the day’ before the day began? Impressive!

Would have been more impressive had she told us that before markets opened..

 

[NicMouse64]

Would have been more impressive had she told us that before markets opened..

Well she can tell us now what tomorrow's will be......

 

[chessknt]

Well she can tell us now what tomorrow's will be......

I'm sure we'll hear all about it around 1 pm est

 

[deleted500612]

it’s like someone getting lucky for a couple rounds of Russian roulette at the casino and thinking they really can’t lose

lol... I think you mean roulette. Russian roulette is probably a bit too intense for casinos to offer.

 

[sevoflurane]

Except you most likely will be working harder and not smarter for your money. There is a reason people like @sevoflurane waited to move West. Make good money in the Midwest and South, use your connections to get a good paying partnership job. No need to kill yourself if you don't have to. There is a group that was hiring recently on here in MN that makes damn good money. Don't know if they are still looking but it's a long partnership track and you have to be ok with 100% supervision.
Honestly, I wouldn't move West if you are looking to earn good money. If you are in the NE, I would get out of there.

It’s not for everyone as my location at my first job was soul crushing. It was a sacrifice I made back then. Not having kids is also a conscious decision. Very happy where I am at now in life, but again it’s all built on previous decisions.

 

[PainDrain]

lol... I think you mean roulette. Russian roulette is probably a bit too intense for casinos to offer.

I am sure if they could get away with it they would offer RUSSIAN roulette complete with smocks for those in the front row. Tough to collect debts from dead men though.

 

[deleted126335]

Fake bull market - so true.
I loved this video (second awesome video I have posted in this thread).

Great video.

Remember to rebalance back to target. For most of us, That means sell stocks and buy cash/bonds.
If you are closer to your number and winning the game, lower equity exposure. E.g., Maybe go from 70/30 to 65/35.

 

[sevoflurane]

6+ plus years in BFE... now I am exactly where I want to be.

 

[neurochica]

Curious but how are you coming across these gems before they pop? I mean having done a few minutes of investigating all of those stocks, with the exception of Fubo, are complete garbage. The Cap Check technology will never make it to market in the US. Jaguar makes an anti diarrheal med for a niche group (HIV) and dogs.

Just sold my 50k jagx shares from 0.39 now $2.58 ( still think $3PT)
I am holding BNGO from $1.9
Don’t care if these stocks are junk. I’ll day trade them with news or swing trade them on technicals.

 

[deleted126335]

Bought the annual limit of I Bonds for myself and wife today.
Best looking horse at the fixed income glue factory.
Probably will buy EE bonds as well.

 

[neurochica]

Would have been more impressive had she told us that before markets opened.

@NicMouse64 do you want me to do anesthesia for you too? I been screen saving my daily 100%+ for when any of you *****s say something stupid.
keep investing in your cds....that will retire you in the next 100 years.

 

[partydoc]

Just sold my 50k jagx shares from 0.39 now $2.58 ( still think $3PT)
I am holding BNGO from $1.9
Don’t care if these stocks are junk. I’ll day trade them with news or swing trade them on technicals.

Where are you finding these?

 

[GassYous]

@NicMouse64 do you want me to do anesthesia for you too? I been screen saving my daily 100%+ for when any of you *****s say something stupid.
keep investing in your cds....that will retire you in the next 100 years.

Where is it?

 

[neurochica]

Where are you finding these?

Hi party doc- I can deal with your question and don’t mind answering them. What I hate is that *****s like the above question my integrity, or other docs integrity by that matte, because of jealousy, too lazy to learn
Etc.

Keep in mind that I day trade or swing trade....I do have a core position, but i make my money trading....in other words, I don’t hold long term.

For $jagx,, which quadruple since I said to keep an eye on it, I knew back in December that they just received new financing, they were expecting to merge and have FDA approval in the pipeline for a few drugs. They had debt, but for a swing, it was very promising.

i think for us docs, specializing in the biotech industries is a lot easier. You can look up online when fda approval meetings or when pharmaceuticals are reporting phase 1,2,3....with good results, these stocks fly. Of course practicing proper money management is important and thus implementing stop
Losses.
Moving fwd, With the Biden administration, I will concentrate on weed stocks, solar and electric stocks. I made $34k with telsa options this week.

there are plenty of websites to look up stocks, technicals etc. that help with research and due diligence. Remember, 1 percent a day is more 1000 percent a year. Shoot me a message and I’ll try to direct you in the right direction.

 

[neurochica]

Where is it?

Seem folks here in the anesthesia forum are a little bit uptight. I had 3 losses, but limited them to 10% losss.
cheers

 

[okayplayer]

@NicMouse64 do you want me to do anesthesia for you too? I been screen saving my daily 100%+ for when any of you *****s say something stupid.
keep investing in your cds....that will retire you in the next 100 years.

Congratulations?

Seeing as I don’t have access to your accounts to audit, I have no idea if you are net positive or negative with all your day trading. You cherry picking winners (in a historic bull market where it’s basically been impossible to lose money the past 7mo) after the fact proves nothing to me.

Either way, I think coming here to taunt us is an odd hobby? To each his own.

 

[sevoflurane]

Lol my partner does options trading and does like 100-200k at a time

 

[neurochica]

Congratulations?

Seeing as I don’t have access to your accounts to audit, I have no idea if you are net positive or negative with all your day trading. You cherry picking winners (in a historic bear market where it’s basically been impossible to lose money the past 7mo) after the fact proves nothing to me.

Either way, I think coming here to taunt us is an odd hobby? To each his own.

Jesus Christ, it’s never enough, right...? I’ll tell you what, I’ll let you see my taxes if you let me see yours.
do you mean a bull market? Regardless of the market conditions, you learn strategies to try to improve your odds at making the right call....are you blaming me for making money in a bull market?
I never said i don’t loose....in fact I lost all week...but mitigated my looses to 10 percent and let my runners run until my PT. I never taunted anyone...I said anyone can learn stocks...this is not rocket science. If you can learn medicine, you can learn to trade.

You were the one who were making fun of me/condescending, insinuating that what i am saying is false. You don’t know me. I provided proof of what I do.
I came in here to state my hustle, just like everyone else.
at any rate, unlike you, I wish you success in your hustle.,

 

[anonperson]

Jesus Christ, it’s never enough, right...? I’ll tell you what, I’ll let you see my taxes if you let me see yours.
do you mean a bull market? Regardless of the market conditions, you learn strategies to try to improve your odds at making the right call....are you blaming me for making money in a bull market?
I never said i don’t loose....in fact I lost all week...but mitigated my looses to 10 percent and let my runners run until my PT. I never taunted anyone...I said anyone can learn stocks...this is not rocket science. If you can learn medicine, you can learn to trade.

You were the one who were making fun of me/condescending, insinuating that what i am saying is false. You don’t know me. I provided proof of what I do.
I came in here to state my hustle, just like everyone else.
at any rate, unlike you, I wish you success in your hustle.,

Because you wrote the following:

I don’t know why people think investing is hard. I just started trading this year on my time off (every other week) and have turned $35k into a little over $400k. Had no knowledge of the stock market......just picked up book and started trading. Mostly day trade and weeklong swing.
I have a young family so I am not day trading all day long. 2-3 stocks in and out first hour.

You don't think that sounds a bit much?

We know that no one beats the market over the longterm so you posting that investing is easy is being disingenuous .

No different than someone saying, being a physician is easy, just look up symptoms online.

 

[partydoc]

No different than someone saying, being a physician is easy, just look up symptoms online.

I mean, prop sux tube 🤷🏾‍♂️

 

[neurochica]

Lol my partner does options trading and does like 100-200k at a time

Nice. I do options, but I also trade shares. Options are tricky because you can loose your premium really fast. Today I hit my stop lost within 30 seconds. I am still learning and options can be a good strategy.

do you do options?

 

[okayplayer]

Jesus Christ, it’s never enough, right...? I’ll tell you what, I’ll let you see my taxes if you let me see yours.
do you mean a bull market? Regardless of the market conditions, you learn strategies to try to improve your odds at making the right call....are you blaming me for making money in a bull market?
I never said i don’t loose....in fact I lost all week...but mitigated my looses to 10 percent and let my runners run until my PT. I never taunted anyone...I said anyone can learn stocks...this is not rocket science. If you can learn medicine, you can learn to trade.

You were the one who were making fun of me/condescending, insinuating that what i am saying is false. You don’t know me. I provided proof of what I do.
I came in here to state my hustle, just like everyone else.
at any rate, unlike you, I wish you success in your hustle.,

You’re advocating something that is dangerous and that most people will lose money doing. The fact you had luck for a few months doesn’t prove what you’re doing is smart.

 

[neurochica]

Ok, I apologize. What I meant was, to this cohort, if you are smart enough to be a physician you are smart to learn the market.

 

[ArteryStudyPainting]

The side hustle was to buy into tesla, enphase, bitcoin, and moderna at the beginning lol. Up 462%

 

[neurochica]

I really hope kn

You’re advocating something that is dangerous and that most people will lose money doing. The fact you had luck for a few months doesn’t prove what you’re doing is smart

You’re advocating something that is dangerous and that most people will lose money doing. The fact you had luck for a few months doesn’t prove what you’re doing is smart.

I really hope no one thinks I am advocating tone enter the market. I was just simply stating my hustle like everyone else.

 

[sevo00]

I really hope kn


I really hope no one thinks I am advocating tone enter the market. I was just simply staring my hustle like everyone else.

The problem I have is your wording... “I don’t know why people think investing is hard.” What you’re doing is not investing. Day trading/swing trading is NOT investing. And I agree with the poster above it comes off as a bit douchey the way you presented yourself. Having a few months of success does not mean you will make these again for the enterity of your trading career. Hedge fund managers who are a lot richer and smarter than any of us will ever be when in comes to fianance don’t even make these types of continuous gains. People have literally Lost their entire life savings while day trading.

 

[MirrorTodd]

Ok, I apologize. What I meant was, to this cohort, if you are smart enough to be a physician you are smart to learn the market.

I was with you up until now. You play the market and do well congratulations and earn your keep. But physicians as a group are not that intelligent nor have they proven to be good at learning the market...myself included.

 

[neurochica]

Agree. I missed the moderna boat. I have a core position on telsa and Nio.

The side hustle was to buy into tesla, enphase, bitcoin, and moderna at the beginning lol. Up 462%

 

[okayplayer]

You do you.

I’ll continue to advocate to the younger physicians/med students on here that that is dangerous and far more likely to end in ruin than riches.

I would wager you that if we invested the same amount of money each month for 30 years (you day trading penny stocks, me buying VTSAX automatically and spending the rest of my free time playing football with my kids in my yard), I will have far more than you at the end of the road and have not wasted one minute looking up fundamentals on penny stocks.

 

[sevoflurane]

Nice. I do options, but I also trade shares. Options are tricky because you can loose your premium really fast. Today I hit my stop lost within 30 seconds. I am still learning and options can be a good strategy.

do you do options?

Nope... you need to really watch momentum runs.
I can’t do that full time, but I am interested as I have a partner that is absolutely killing it. Have 30k play money in robinhood atm, but haven’t really done anything with it.

 

[sevoflurane]

I really don’t understand teslas run up after the split.

 

[neurochica]

The problem I have is your wording... “I don’t know why people think investing is hard.” What you’re doing is not investing. Day trading/swing trading is NOT investing. And I agree with the poster above it comes off as a bit douchey the way you presented yourself. Having a few months of success does not mean you will make these again for the enterity of your trading career. Hedge fund managers who are a lot richer and smarter than any of us will ever be when in comes to fianance don’t even make these types of continuous gains. People have literally Lost their entire life savings while day trading.

Ok. I am sorry if my wording came out a little bit “douchy”. I can see that. However, next time you don’t agree with a poster comment, say something- don’t hide behind a sarcastic comment.
Yes, i had a good year last year. I may have a bad year this year. The market is extremely hot so far- I had my best week by far. I’ll take advantage while it last. If I loose, I am a grown woman, I can handle. I’ll follow my strategy and let the chips fall where they fall. My goal this year is 2 mil
Best

 

[neurochica]

I really don’t understand teslas run up after the split.

I don’t think no one does. If you really think about it, telsa stock is over $4000 per share, pre split. I don’t think they are worth that kind of valuation. News is playing a part.

 

[pgg]

I never said i don’t loose....in fact I lost all week...but mitigated my looses to 10 percent and let my runners run until my PT.

Options are tricky because you can loose your premium really fast.

If I loose, I am a grown woman, I can handle.

One o. One o.

 

[anaesthetic]

.

 

[sevo00]

would bet good money that in 20-30 years, your losses from day trading would far exceed any gains that you have in the short-term, purely based on statistics. Let us warn you now. There have been plenty of examples in the past of people and fund managers who managed to beat the S&P for 5-10 years straight only to become completely irrelevant for the following 5-10 years. Look it up, and do more reading. I don't really care if I come off as patronizing, but you have a young family. Heed the warning now.

Beatifully put. Sound advice especially for the all the students reading this thread as well.

 

[anaesthetic]

.

 

[neurochica]

I don't mean to belabor my points above, but this is exactly why I would bet a large amount of money that you will eventually give most of your gains back if you don't take your 1142% profits now and account for the short-term capital gains tax. I'm willing to bet money because that's essentially what you're doing with yours.

The images that you posted of your gains are all I need to know about your "investing" strategy aka gambling. No BS. I hope you understand your greeks when it comes to options and how absolutely brutal theta is when you gamble thousands on weekly options in highly volatile stocks with IV30s >75%. You not only have to get the timing and direction right, but you are also paying a volatility premium on those options with such elevated IV30s. What are the chances of getting all three factors correct on something that literally has zero value after a week or two if you miss on any one of those points? What are the chances of doing that consistently over 10-20 years, or even 1-2 years?

Please take your profits now and re-assess your strategy before you give it all back (i.e., stop being a trader, and start being an investor). So many people have lost way more money thinking they could turn 35k into 400k into 4 million only to end up in a worse place than before they started trading. Past performance does not predict future results. I repeat: past performance does not predict future results.

Luckily as docs, we have way more financial stability and income potential than the average person. Our downfall is often our pride and overconfidence in our own abilities, especially when it comes to mistaking our decade-long training and decades-long experience in medicine as untapped potential in other fields (e.g., investing). Anyway, that's my two cents. Do with it what you will.

Thanks for your advice. It seems that your are judging my investment/trading strategy from a few posts. While I understand you are trying to make an informed decision on the few post I have written, your are misinterpreting my “side hustle” with my investing strategy.

let me clear things up for you-

-In addition to trading, I do invest in long term. I have roth IRA/401(k) accounts and as an independent contractor, I Max them out ($50k+)
Aside from my retirement accounts, I hold a long core position In my portafolio that ranges from 6 months to 5 years.
-I don’t intend on trading for 20 years as you said.
-I don’t do options as my main trading strategy. I use them when appropriate. Tesla had an incredible run this week and it would have cost me over $350k to buy 500 shares, I bought options for a fraction of that.
-I do not only invest in biotech, PACS or extreme high risk investments. This is what’s been hot. I invest in different sectors but most importantly, the fundamentals and technicals need to be there before I day or swing trade them. I think part of day trading is knowing what is coming down the pipeline and with the Biden admin, as we saw this past week, solar, cannabis, tech will be hot in the near future.
-I never said I intend to beat other large investment firms. I have my losses, daily. It doesn’t mean I can’t take advantage of a hot market. Maybe I’ll stop in the next bear market. Maybe I’ll short the market, I don’t know. It took me more than half a year to get to $400k. This past week, I made $65k. Will I’ll do it 2 weeks from now, I don’t know.
I am fully aware of traders who go from rags to riches and back to rags. I have a specific set of rules that I follow religiously- from entering a position, taking profits, and exiting a position. Leaving if I have 2 bad trades. No exceptions ( more than happy to further explain). I Have a very conservative approach to trading. Although some of my runners hit over 100%, by that time, I have already secured 3/4 of my profits.

I hope this clears up that my “ hustle” day trading side gig, in which I day trade and swing trade, is not my investing strategy. I learned a new skill that I am fully taking advantage in this hot market. I understand the dangers, use a hard set rules to mitigate my losses as much as possible. I will analyze my hustle if things start going south.

I have always been a little rebellious, in a good way, when setting goals. From entering a relatively new field (neurohospitalist)
at the time-neurology has been historically outpatient-to leaving a cushy academic career for an independent contractor type of gig. Investing in new companies, high volatile stock, like Tesla, as opposed to ETFs has served me well. It will probably get you where you want in 20 years. That’s a solid plan. I will continue to do what is best for me and my family.

I genuinely appreciate your advice. I know is well intended and will benefit 95% of docs reading this. For the other 5%, who are trained traders, get yours while is hot.