£10,000 to £1,000,000 in 6 years - Journey of a Chronic Income booster

chronicsaver

lindens wrote: »

Also you are allowed to put your own website url in your profile, so could do that with your blog if you wished

Thanks. Just done that.

chronicsaver

joeyjimbles wrote: »

Try Gyazo for screen shots - you can get a free trial, very quick and easy

Cheers. Works a treat.

MrUniveristy

Just read the whole thread, and by the look of things, your a chronicgambler, not a chronicsaver.

chronicsaver

MrUniveristy wrote: »

Just read the whole thread, and by the look of things, your a chronicgambler, not a chronicsaver.

Fair enough.

chronicsaver

Hi everyone, hope you've had a great week so far!
Total savings for the week = £662.29

It seems as if the strategy I'm using on betfair exchange seems to be working but as I said, I'll try it out again for a month before I start upping my stakes (£90.95 on £10 stakes). With the savings, I wack it back into a index tracker (fund) so it can just keep rolling over. Didn't manage to hit the £700 mark but I guess that's only because the market after Wednesday was relatively quiet. When US Non Farm Data came out today, there was quite a lot of activity, but seeing as it's bank holiday, I didn't really want to get involved. I'll wait till next week to get back in.



On another note, I may stop posting in this thread and start just limiting my posts to my blog (I still haven't decided). I've probably received abuse more than anything on here. My goal/aim, has always been to try and help people identify ways to make some extra money for themselves. Though I'm only 24, I believe if you really want to achieve anything in life, you have to take risks (calculated of course). Being conservative gets you absolutely nowhere, and you have to be relentless (law abiding) in the pursuit of your goals. Money doesn't motivate me, but it's the freedom to do when I want, and how I want. I don't mind people having opinions, but calling me a liar and also lambasting me for the fact I gamble just makes things quite irritating sometimes. My latest blog post will be about why I'm on this journey. Will be posted tonight (link in my profile)

See below my average line for the week/ hasn't really changed from my previous posts but ah well.



Happy to answer any questions openly or via PM - enjoy the rest of your weekend

slowlyfading

I shall be following your journey with interest

chronicsaver

Hi Everyone,

Hope you've had a great week! Total savings for the week:
£548.59 (realised). (£250 saving + £264 + £38.54 (betfair exchange) - £.077 Tbh, I'm a bit disappointed with this. I could have earnt so much more on my trading account - thing is though I was a bit unsure about what was going to happen with Greece and whether they'd actually repay their debts back so just thought I'd trade out - better to be safe than sorry!! If I let my trade run for the whole week, I would have been £1000+ up in my trading account alone. I have a rule of not following the market when it's rallying like it did this week. I'm currently running a net loss position on the FTSE -£173 (again!) but it's cool, I'm expecting it to sell of massively before the election.

Europe really is the place to invest at the moment. If you have some spare cash rotting about, wack it in a European tracker. I've already returned £73 off a £1600 investment in the past 2 weeks - it's essentially free money. Read about QE in Europe.

Horse trading strategy isn't working to good either though, so I'm just going to stick to what i know best - football! I've returned a decent amount so far so no complaints!

What to take out of this:

Don't follow markets. Have a view and let the market follow you Never leave money lying around, always keep it moving Don't take unnecessary risks. You may win in the short term, but the market will always catch up with you

Hope this covers most things and it helped you out a bit. Any question, feel free to drop me a line on here or in my inbox! I'm still at work, henceforth I haven't posted my trend line but I'm about £1064 up in March.

lauraj87

COOLTRIKERCHICK wrote: »

I remember collecting Alu cans, took me ages to get a load, and then only made a few quid, a lot of people said it wasn't worth the hassle etc, but to me it was, as at the end of the day it was a few quid I wouldn't have had..

over the years I have made a few hundred quid just collecting and saving cans ( and empty steel tins re baked beans etc).. have stopped, but will be going back to doing it again...

Who gives you money for these? I'd like to do this

Broken_Biscuits

chronicsaver wrote: »

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Hope this covers most things and it helped you out a bit. Any question, feel free to drop me a line on here or in my inbox! I'm still at work, henceforth I haven't posted my trend line but I'm about £1064 up in March.

£1000 saved from your salary last month and then another £1000 ish from alternative streams? Well done £2000 in a month is really impressive!

Europe is doing well at the moment, but i havnt piled in. My concerns are that 3 main things are driving successes... Qe, low euro and low oil price. I may be wrong but i would think 2or 3 of those will stop/change soon sending fund prices the other way.

i have in the main a very sensible balanced portfolio but do have a bit of a gamble some times too. I try not to get too hung up on what's happening week to week but just for comparison purposes to europe- Russia has gone up about 17% in 10 days! £85 gain from £500. India is performing about the same as Europe returns wise and in my opinion this has more legs over the long term.

all the funds i hold are up over the last couple of weeks though... Even the boring stabilising ones.

you will make some money from Europe.. But for how long?

chronicsaver

Broken_Biscuits wrote: »

£1000 saved from your salary last month and then another £1000 ish from alternative streams? Well done £2000 in a month is really impressive!

Europe is doing well at the moment, but i havnt piled in. My concerns are that 3 main things are driving successes... Qe, low euro and low oil price. I may be wrong but i would think 2or 3 of those will stop/change soon sending fund prices the other way.

i have in the main a very sensible balanced portfolio but do have a bit of a gamble some times too. I try not to get too hung up on what's happening week to week but just for comparison purposes to europe- Russia has gone up about 17% in 10 days! £85 gain from £500. India is performing about the same as Europe returns wise and in my opinion this has more legs over the long term.

all the funds i hold are up over the last couple of weeks though... Even the boring stabilising ones.

you will make some money from Europe.. But for how long?

Thanks. that's very much appreciated. Still early in March so hopefully i can increase the figure. I'm about £1164 up in March - got the figure wrong above

The 3 things you mentioned (QE, Low Euro, Oil Price) won't stop. Well at least the first 2. The ECB has promised to sustain the bond-buying programme till September of 2016 - even then a lot of economists are saying they may cut interest rates from the current base rate (forgot what it actually is) and they may in fact also have another bout of QE. The market seems to forget that Mario Draghi (the guy who runs the ECB pretty much) said europe will do "whatever it takes to save the euro" - that basically means they are willing to do anything to ensure the future survival of the Eurozone. Monetary policy in Europe will be loose, IMO, for the next 18-24 months - which is good news for Euopean Equities. With that said, however, it's still unclear whether it's actually working. We'll see round about June, but the initial data that has been coming out of the past few months (business confidence inidicators, PMI index etc) all seem fairly positive. The low Euro is being primarily driven by QE (more money being pumped into the economy, supresses the economy etc basic logic of suply and demand). Look at the effect a weakened Yen (because of their own QE) has had on Japense Equities over the past 2 years - phenomal. Also on a valuations basis, Europe is comparatively cheap to Developed Equities (US,UK) and as such makes it an attractive place for investors. In the short terms there will be some volatility because of a likely raise in US rates, but that will only be in the short term

How long do I plan to hold Europe? At least for the next 18 months.

I tend to stay away from Emerging Markets - their too volatile for me. But fair play, just know that those markets can take a turn for the worst incredibly quickly! I'm still not convinced on Russia, there are still a lot of geo-political risks in the region - Ukraine, Tensions with the "West" etc and let's not forget falling oil prices. If I was in your position, I'd take my £85 profit and put it into Europe - but that's just my personal opinion.

Have you ever considered putting more than £500 in? or a better question would be, how much do you have invested in the market, if you don't mind me asking?

Apologise for any grammatical mistakes, I cba to check! I get enough of that at work!!