Is it really worth .25?

[thezfunk]

Yes, I've always kept 100% of my notes up for sale, and I know a lot of other people here do so too.  Before the payment in progress restriction was added, it really was simply easier to keep track of your notes from the Folio screen where they were all in one place.  After the change, it's a lot more trouble to keep on top of but I still do it because I get occasional sales.  I mark them up a helluva lot higher than 5% as long as I don't need the cash soon.  There's no harm in letting people pick over your notes as long as your markup is high enough.  But don't ask me what that magic number is because I don't know.  Certainly 4-5% seems safe.

Huh, I didn't know anyone did that.  I have often thought about it.  Why not?  How much extra work can it be and if someone really wants something, I make a decent profit.

[ggnoob1337]

Yes, I've always kept 100% of my notes up for sale, and I know a lot of other people here do so too.  Before the payment in progress restriction was added, it really was simply easier to keep track of your notes from the Folio screen where they were all in one place.  After the change, it's a lot more trouble to keep on top of but I still do it because I get occasional sales.  I mark them up a helluva lot higher than 5% as long as I don't need the cash soon.  There's no harm in letting people pick over your notes as long as your markup is high enough.  But don't ask me what that magic number is because I don't know.  Certainly 4-5% seems safe.

Huh, I didn't know anyone did that.  I have often thought about it.  Why not?  How much extra work can it be and if someone really wants something, I make a decent profit.

I had never thought of it until reading through this thread. I have an Interest Radar subscription and have never used the auto sell. I set it up in a few minutes and it now lists all of my notes for sale at a good markup. So after the initial setup, there is no extra work. Already sold one note for an 8% markup.

[Keltset]

I keep 100% of my notes up for sale in the secondary at a markup. It's just logical to let those who want to give you free money to let them give it to you

[core]

Even if it worked consistently, you would have to sell very large quantities of notes just to make it worth your while. Otherwise, it goes back to the idea of being better off getting a part-time job at McDonalds.

Even if the dollar amount was the same, there's a huge difference between flipping burgers and sitting out by the pool with a laptop trading notes, sipping martinis, and haphazardly discharging firearms in random directions.  On your own schedule.  In between trades you have plenty of spare capacity to manage another moneymaking venture, or think one up.  Also keep in mind your tireless efforts may cause you to make far more money in the long term than what you made off the trades themselves.  All it takes is one little eureka moment.

[Bohb Daishi]

Even if it worked consistently, you would have to sell very large quantities of notes just to make it worth your while. Otherwise, it goes back to the idea of being better off getting a part-time job at McDonalds.

Even if the dollar amount was the same, there's a huge difference between flipping burgers and sitting out by the pool with a laptop trading notes, sipping martinis, and haphazardly discharging firearms in random directions.  On your own schedule.  In between trades you have plenty of spare capacity to manage another moneymaking venture, or think one up.  Also keep in mind your tireless efforts may cause you to make far more money in the long term than what you made off the trades themselves.  All it takes is one little eureka moment.

That's all fine and dandy, but the money you spend on the martinis combined with the outrageous price of ammunition, you'll most certainly lose money. Besides, most people aren't cut out for this work. It's not all "sitting on the beach making money, working on your own time". There's a substantial amount of boring, routine "grind" work that it requires. Plus, if you don't have the brain for it, you will never make any money, and you especially will never have that eureka moment. Strictly speaking, it's not about intelligence or skills. You just have to be wired a certain way.

[Keltset]

I would highly advise reloading..... It make it much more affordable.


I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic. Anyone is more than capable of going out there and making what they want and doing well at it. They problem is that you cannot have the general belief that the world owes it to you, rather you must have a -work ethic- and the belief that -you- are the one responsible for yourself and it takes -work- and -effort- to obtain the things you want.

I would rather hire a guy that has no specific job or career related skills but has the drive to learn them over the guy who has those skills but calls in frequently or somehow has three grandmothers die in one quarter and then comes down with a horrible case of the flu on way to many Fridays.

I do believe I need to take up cores idea on of these days. Although, I do enjoy shooting I have been known to become frustrated when coding from time to time and I'm slightly concerned that my laptop may end up in various pieces scattered all over the place when the 45 hits it... hmmm Maybe I should avoid coding and firearms and stick with accounting during such times.... Numbers haven't ever caused issues for me 

[yaoyao]

I had never thought of it until reading through this thread. I have an Interest Radar subscription and have never used the auto sell. I set it up in a few minutes and it now lists all of my notes for sale at a good markup. So after the initial setup, there is no extra work. Already sold one note for an 8% markup.
[/quote]

Same here.  Yesterday, I used IR to put all my notes for sale.  It only took a couple of minutes to set up (I use simple rules).  I've sold 15 notes so far.  I may have to adjust my markup percentage (I'm using 4% for down, 5% for flat and 6% for up).  Most notes that I sold are UP ones.

[dontvote]

I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic. Anyone is more than capable of going out there and making what they want and doing well at it. They problem is that you cannot have the general belief that the world owes it to you, rather you must have a -work ethic- and the belief that -you- are the one responsible for yourself and it takes -work- and -effort- to obtain the things you want.

I would rather hire a guy that has no specific job or career related skills but has the drive to learn them over the guy who has those skills but calls in frequently or somehow has three grandmothers die in one quarter and then comes down with a horrible case of the flu on way to many Fridays.

I disagree, kinda. While you are right that anyone CAN do it given enough time and dedication and training to some extent. The reality is that its easy for some people and other people can't really put it all together and have to be given every step. Those who have to struggle to be comfortable in the space should do something else. Everyone with a basic education can follow directions and anyone with the proper determination and attention to detail can get those directions right. The missing link is the ability to teach yourself, hypothesize and test and understand the results of your tests. There is a creativity required in good trading that can also be taught but to not everyone.

Have you ever hired someone with no specific job or career related skills? First of all everyone who interviews for a position they aren't qualified for says they're a quick learner who really wants to acquire the skills of earning a paycheck. Second of all, it is REALLY hard to find the real gem in that bag of rocks and I have only been at 1 company (of 5 in my career) that adequately assess people. and even THAT company has massive turnover!

[ggnoob1337]

I had never thought of it until reading through this thread. I have an Interest Radar subscription and have never used the auto sell. I set it up in a few minutes and it now lists all of my notes for sale at a good markup. So after the initial setup, there is no extra work. Already sold one note for an 8% markup.

Same here.  Yesterday, I used IR to put all my notes for sale.  It only took a couple of minutes to set up (I use simple rules).  I've sold 15 notes so far.  I may have to adjust my markup percentage (I'm using 4% for down, 5% for flat and 6% for up).  Most notes that I sold are UP ones.

I'm using 6% for down, 7% for flat, and 8% for up. I've sold a couple of up notes so far. Also using it now to list my late notes for sale and I've sold a couple of those as well.

[core]

I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic.

I'm going to have to go with Bohb and dontvote on this one.  You can't just sit down and make money if all you have is dedication.  Maybe you don't have to be "wired" a certain way from birth, but you do need to think a certain way.

If you're going to take advantage of inefficiencies and loopholes then you need to be the type that questions everything, takes nothing at face value (including the "rules"), and can instantly see ways to make money or beat the system in everyday life situations that they are exposed to.

If that's not your cup of tea and if you'd instead like to grind away steady profits using more conventional means then you still need to come up with a strategy that _works_ and that still takes plenty of creativity, or specialized knowledge, or anything else that the average Joe doesn't have.  If all it took was hard work and logging hours then every stay-at-home parent in the country would be doing it instead of falling for the work from home scams.  There are plenty of people who will spend all friggin day to make a lousy $15 if it was that "easy". 

You can probably get lucky and make some cash in the short term the way things are, after all the P2P trading angle is rather new.  There aren't that many people involved with it and those that are may not have had the time to broaden their approaches.  Your hard work is absolutely meaningless when there's a bot sitting there across the trade that doesn't care about working 24/7.  If your strategies are generic, if all you're doing is working hard, then it won't be long at all before you are making nothing.  It's a cat-and-mouse game, and mice who aren't quick to adapt don't tend to live long when there's a clever cat around.

[Bohb Daishi]

I honestly do not believe it takes being wired one way or another, it simply takes dedication and a work ethic. Anyone is more than capable of going out there and making what they want and doing well at it.

Hard work and determination are certainly good qualities, but some people are naturally better at certain things. Therefore, it's a matter of efficiency. The easiest way to explain this is by using the example of men vs women. Naturally, men are stronger than women. Male bodies are built a certain way to make them physically stronger than females. This doesn't mean that a female can't be stronger than a man. But it means that it takes a lot more time and energy for a woman to build up a comparable amount of muscle mass. Likewise, if a man spent the same time and energy, he would build up a lot more strength a lot faster than a woman.

Now take this example and apply it to trading. If your brain isn't naturally wired for it, you will have to spend a lot more time and energy to compete with those that have that wiring. So for most people, it's not worth it because if they spend that same time/energy on things that work with their natural strengths, they will be a lot more successful.

This reminds me of a quote from Albert Einstein: “Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid."

[dontvote]

This reminds me of a quote from Albert Einstein: “Everybody is a genius. But if you judge a fish by its ability to climb a tree, it will live its whole life believing that it is stupid."

Obviously Albert's prodigious talents did not extend to aphorisms.