Which one is more profitable according to you: intraday (short term) trading or long term investment? Why?
According to me Long Term Investing is More Profitable than Short Term or Intraday trading.kindly read the points belowEach one of us wants to know a secret of quick and easy way to become rich. This seems to be human nature. However, some people know how to be rich in small span of time as they buy common stock that quadruples or more in a year. But this is not the matter of luck as some foolish people believe that this rely upon luck. If you want to be a winner then there should be a proper investment strategy that you should choose to follow. You must never overlook the most powerful tools that are available to us. One of the best ways to amass significant assets is by investing regularly. You must avoid unnecessary financial risk, and let your money work for you over a period of years.You need to ask certain questions to yourself. Ask yourself why are you considering investing in the stock market? Do you need your money back in six months, a year, five years or longer? Or are you saving for retirement? Or for future college expenses? It is essential to know the purpose before investing. You must be aware of the time in the future you may have need of the funds. If you are not expecting returns in few years then you can invest in stock market as there is no certainty in the stock market due to volatility.You can calculate how much you should invest and what kind of return on your investment will be needed to produce the desired result on the basis of knowing how much capital you want and the future point in time when you will need it. In order to know how much capital you will need for retirement, you can make use of the one of the free financial calculators that are easily available over the Internet.
What's more profitable long term and short term? Day trading or flipping houses and why?
I don’t enjoy flipping houses - I find the process of purchasing a piece of real estate difficult and I struggle to keep up to date with the latest trends in terms of what buyers are looking for in a certain area. Additionally, until recently I didn’t have the capital to buy a property and then spend the necessary funds “flipping” it and renovating it. I have no skills with regards to construction and I think if I walked into a building supply store I would be paying full-price for things that could easily be bargained down - I just don’t have that knowledge.I also live in Sydney, Australia - An area currently experiencing a property pricing “bubble” meaning that most economists expect the areas I would be working in to fall within the next 2 - 3 years. I have no contacts in the building industry and I wouldn’t be able to say, renovate a bathroom for cost + mates rates.I spend all day looking at the world’s financial markets. I have extensive experience trading the Australian stock exchange and US futures markets - I made a considerable amount of money during Brexit (short positions) and made more trading the recovery rally (long positions).If I lived in Nevada during 2009, I would have put all the money I had into properties that I would then “flip” and attempt to sell for a profit. I couldn’t do this however, because I am an Australian citizen and my circumstances are completely different >> this is my point.The answer to your question depends upon:i. You, your skill-set and that of your friends and family. Is your father a VP at a major investment bank or a qualified builder / carpenter - whatever?ii. Where do you live? Is there a good supply of real-estate that is currently under-priced but expected to increase (market demand) in the next 6 - 24 months?iii. What do you like to do and how much money do you have? I get very sick if I am exposed to the sun and heat for too long (headaches) - but I have a computer loaded with spreadsheets that enable me to make good trading decisions each day.The answer depends upon you, your location, available capital, skills and a little bit of luck. Irrespective, if you genuinely want to flip houses (or trade futures) then it won’t matter so much how much money you are making, because you’ll be doing what you enjoy.Good Luck!
Are professions (doctor, lawyer) more stable than jobs in tech for the long-term future?
Thank you for the A2A.That’s a complicated question. I think pretty much anything in tech or medicine is safe long-term. Lawyers, I really don’t know.The answer also depends on in what country are we talking about.Personally, I think that lawyers and accountants are also pretty safe if they are clever and can find a niche.Let me give you an example. My father was a lawyer. He told me a story from law school about a classmate who was really a crummy student despite taking reams of notes during class. The classmate, however, loved boats, and went sailing as much as possible.After law school, the classmate pursued admiralty law and did very well for himself despite being less than a stellar lawyer. What’s the moral of the story? He found a niche that he loved.People who are capable in any kind of tech/computer capacity will be in demand as far into the future as I can see. And if someone wanted to specialize, I’d advise either data science or machine learning. But I’m not a soothsayer.I think any of the traditional professions would also be safe. I need an accountant whether my company is doing great or doing poorly, and the accountant makes the same amount of money.I need a doctor when I’m sick, and I need a lawyer to set up my company and write and rewrite my will.I think if the person can find and pursue a niche, any of the professions you listed in the question would be fine.Before answering this question, I looked at a few articles with projections about future jobs. Tech and medicine seemed to be the common denominator.I hope this helps.
Is long-term trading more profitable than short-term trading? If yes, what makes short-term traders stick to their short-term strategy?
Technically, you can get rich more quickly by trading short-term due to compounding. However, you're almost guaranteed to be unable to scale up to a billion dollar account by trading short term due to liquidity constraints.The best way to answer this question is to ask you about your disposition to risk, preparation, and execution.Would you rather:A: Read 10,000 page of dull business documents (that's 100 companies' SEC 10K filings) ongoing until you stop investing, but only take action once a week.B: Study a few chart patterns, learn risk management, and place trades every day.I personally find over-night risk to be more of a headache that keeps me up at night. However, if I had a much smaller position size, I could easily sleep at night while holding shares. The downside is that a smaller position means that even if I made 20% on a longer-term trade, that amount isn't going to put me in the leisure class. If I could make 2% every day on a small enough account that compounds daily, I'd have 140x more money at the end of the year than I started with (14000% gain). If instead I made 10.41% per week, I'd also have roughly 140x more money at the end of the year. I'd actually make more with a weekly approach, after transaction fees are accounted for. So why do I prefer short-term? Because, you can grind out 2% daily gains, but occasionally, you get a 20% gain (in a day!). With longer-term trading, you grind out 10%, and occasionally you get 20-30%. It's all about the frequency of windfall events and your risk management technique. Longer-term trading requires wider margin of error - stopped out for $200 loss after 3 days, but short-term trading can be very specific - if it doesn't work in 30 minutes, I exit at $20 loss.Would you rather:A: Fail fast (short-term)B: Have more wood behind fewer arrows (long-term)Over a long enough time horizon, the S&P500 always makes a new high. Not all the companies in the S&P500 make new highs, but the index itself does. (An example of survivorship bias that works in your favor).
A decent career for someone with short-term memory loss?
Look for a field where your job would involve working on a case-by-case basis. Here's a few suggestions I think might work for you: Photographer, psychologist, fitness trainer, sports or musical instrument instructor/teacher (if you have an area of expertise), graphic artist, electronics, hospitality/tourism, risk management, security officer, physical/massage therapist. It's all going to be a matter of what you're good at, what you're interested in and what works best for you.
Which career is more promising: data scientist or software developer? Which is better in terms of salary and long term growth, and why?
First off, let's try to define/distinguish between the 3 roles described:Software Engineer - Are hardcore computer programmers who live their lives writing lines of code, usually at a pretty low level (C/C++ programmers). They design and build entire software architectures for very complex systems. Typical career path takes you into systems engineering & product management. Tends to be more technology focused.Data Analyst - A rather generic role describing someone who deals with data. They tend to stick to much higher levels of technology, such as SQL, reporting tools, and excel. Generally this career path takes you into people or project management. Tend to be more business focused.Data Scientist - A relatively new role, coined by Jeff Hammerbacher, are data junkies who have experience with Math/Statistics, Scientific Modeling, Computer Programming, Data Analysis, Report Design, visualization, business processes, etc. Basically they do everything you can think of in the world of analytics, and then some. They also generally have a PhD.To answer the original question:Salary - Data Scientist, at least initially. There are very few people who can do what a data scientist can do and they are quite valuable to the companies that need them. They can command pretty good salaries.Long Term Growth - All of them, really. The analytics space, all parts of it, is currently growing quite rapidly and is expected to for the foreseeable future [1]. None of these paths, including visualization and analytics, would limit your ability to have a successful and prosperous career. It will more depend on what your personal interest is and how hard you're willing to work at it.[1] Gartner Says Worldwide Business Intelligence, Analytics and Performance Management Software Market Surpassed the $12 Billion Mark in 2011
How do contract job positions work?
In "legal terms" nothing is really different between these two jobs; companies use these terms interchangeably. In common usage contract jobs are used to designate temp positions that required specialized skill sets and generally are higher paid positions. If you can get a contract role this is still considered somewhat more lucrative, prestigious then a temp job, which is usually applied to non-skilled, or administrative work only. Also, contract jobs were historically for project work only -- where companies would have contractors bid out for fixed term contracts. No longer the case in many companies, and there are a continuum of temp and contracts jobs that are relatively similar in terms skills and pay. Most larger companies go through an agency that they have a preferred sourcing relationship, and don't have competitive bidding process. The reason there isn't much differentiation between these now, is probably due to the increasing use of temp-to-perm positions. These basically "try out" temporary employees for 6-12mos periods before the company makes a long term commitment. Contract roles are generally not temp-to-perm type positions.