RamtaJogi— Hacking Life for Money and Fame.

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Hi.

With this post, I am marking the beginning of a new journey.

Before I describe the path I want to take, here’s a little history: I am single, male, 27 years old, working in IT Industry for almost a decade now. I am originally from India, currently working in New Jersey, USA. Even though my salary is in 6 figures now, my net worth is less than 25,000$. Also, after working for 7 years in ‘corporate world’, I have learned that unless you are lucky to have a great manager, it’s going to suck. To add to the misery, there are too many idiots in IT field and these idiots are going to be your co-workers. I figured that I would need to find an alternate way to make money.

For last couple of months, I have been looking around to find various ways to make lots of money. These were the ideas I came up with:

1. Writing a software product and selling it through Internet [the micro ISV model]

Ian Landsman, owner of HelpSpot product, has chosen this route and he is very successful. Though, I feel that this path would take an enormous amount of time to build wealth and I wanted something which brings results faster.

2. Doing affiliate marketing on Internet.

Amit Mehta, of Super Affiliate Mindset fame, earns 2.4 million dollars using affiliate marketing. Somehow, thoughts of creating countless ad campaigns didn’t appeal to me.

3. Daytrading in stock market

And that leaves us with daytrading. I ordered couple of books from Amazon on this subject and started studying. I realized that trading is a mind game. It’s a game of psychology and emotions.

During my reading of the subject, I also came across Tim’s blog. Tim is a very successful guy who made a lot of money during dot com boom and currently he trades penny stocks exclusively. He is bit loud about his techniques, but boy, they do work.

More research on penny stocking led me to ‘The Market Kid’ [TMV]. He is currently attending high school and he converted 8500$ in to 53,000$ from Jan 2008 to March 2008.

I also learned about a very vibrant community at Green on the Screen [GOTS] blog. This blog is run by Muddy, 13th Floor and Laura. They have been trading for years and they share their wisdom on their blog and in the chat room.

I have read everything written by Tim, TMV and GOS guys. I have come to a conclusion that day trading is a skill which can be learned and it can help you make good amount of money. And that’s the path I have taken.

Over the course of next several months, I plan to learn daytrading and make money doing it and blog about my progress here on this site. They say that 90% of the traders lose money, I am hoping to be in other 10%, wish me luck!

RJ.