Would you like to turn an investing or trading hobby into a full-time career? If you’re ready to make the big move but still wonder what a good specialty might be, consider several opportunities. The four listed below can be excellent career choices depending on your talents and personal preferences.
Day trading isn’t for everyone, but if you have a high tolerance for risk and are willing to endure a year-long learning curve, it could be the ideal choice. Other possibilities include real estate shares in rental properties, specializing in the fast-paced options market, and delving into the exciting world of penny stocks. This is one way to increase your net worth now, or go beyond the bare minimum for your retirement savings that you’ll need down the road. Here are more details about how to get started with each investing career path.
Become a Day Trader
Day trading isn’t for everyone, but people who are suited to its speed and precise timing tend to feel like they’ve found their true calling. What sets them apart? First, they never hold overnight positions, always closing their accounts and going to cash before the final bell of each session. Second, they tend to specialize in one or two companies, learning how to read the tape and anticipate price changes just a few seconds ahead of time. Most day traders work alone from their homes. You’ll need high-speed internet and a backup system in case your primary setup fails.
Consider Rental Property Shares
With any amount of funds, you can start a real estate investing business of your own. Unlike most other types of trading careers, this path is a slow-paced affair that involves little pressure. However, expect to spend plenty of time researching the property markets in the regions that interest you. Fortunately, there’s no need to buy entire properties. Rental shares are just that, percentage shares of particular rentals. It’s up to you to invest as much as you wish in each one. Begin by browsing through hundreds of online profiles that include photos and detailed descriptions of the properties. The best part is that you take part in profits and appreciation but without the headaches of maintenance or operational responsibilities.
Specialize in Options Trading
Options trading is a unique niche within the overall investing universe. Each options contract gives the holder the right to buy or sell 100 shares of a particular stock at a fixed price within a set period of time. It takes about six months to learn the nuances of the market, but many traders love nothing more than the daily price fluctuations and outsize profit potential that comes with a career as an options trader.
Trade Penny Stocks
Stocks listed for prices under $5 are informally called penny shares. The unique thing about them is their huge potential for price increases. There are plenty of people worldwide who deal in nothing but penny shares. It’s simple to get started as a trader. Open a brokerage account, accumulate lots of penny shares, and attempt to earn a profit by selling when prices rise. For newcomers, it’s smart to practice on a simulator and include many different companies in a portfolio to keep risk at a minimum.
