The Yin and Yang of Busking and Trading

If I can generate this amount of money in a just few hours maybe I could do the same with trading.
I just need to put in the work the same way that I did here.

People nowadays don’t realize that whatever you’re constantly doing can be a means for you to create a living out of it.

So for this post, I decided to share my insights about the similarities of busking and trading since it’s my current lifestyle and I have come up with some guidelines below.

Anyway, I might miss out on some guidelines, but these are the most important, to me at least.

And if you’re planning on going full-time on busking or in trading, make sure you have saved a lot of money (in my case I saved at least 1-2 years worth of living expenses) so you won’t get burned out, physically, mentally, financially. This is also your time to find other skills that you think will make you happy in the long run aside from your main passion.

Better be prepared for anything life will throw at you.

Let’s begin!

Busking

  1. Before performing at any location, make sure that the spot that you want to perform on is safe. Be observant. Check for any passage points where you think a lot of people will pass by. Spotting intersections can generate a higher chance of returns. Also check if there are people around passing by because if there aren’t any, you should’ve just practiced at home.
  2. Record how much money you received for the day so that you will have an idea when is the best time to perform in that particular spot especially if you’re starting out. Reduce your expectations as well on the first few days. Just because you practiced well doesn’t mean you’ll get a guaranteed return in that specific spot. Again, be observant.
  3. You don’t have to perform in public for the whole day or even every day. Just choose specific days, time and duration that you think will give you the highest returns based on what you experienced performing in that specific spot. Time is precious in this endeavor, that’s why if you plan on going over your usual routine, make sure you offset in the next days. Whatever money you recorded on your previous busks will give you the answer.
  4. Use paydays, weekends and holidays to your advantage; these are the days where usually a lot of people go out.

Trading

  1. Before trading any stock, commodity, currency pair, etc., make sure you have a plan. Also check if there are a lot of people participating because if there aren’t any, you’re just wasting your time.
  2. Record all your trades, especially when you’re starting out. Don’t expect that you’ll get all these setups right away. Better to focus on one first, whether be it swing, breakout, bounce plays, etc. Reduce your expectations as well on the first few months. Just because you practiced well doesn’t mean you’ll get a guaranteed return in that specific setup. Again, it’s you against your own psychology.
  3. You don’t have to trade everything you see especially if it’s for the sake of trading. Spot your setup niche and trade only those setups that you’re comfortable with. Since time is also precious, plan a time stop for every trade just in case your plan took longer to materialize than expected. Your trading journal will also give you the answer.
  4. You can use disclosures to your advantage but don’t put too much weight on whatever news you heard and just focus on how the technicals will react and execute your trades accordingly.

The best part of these two activities is if you perform well here early on, you get to have more time for your future self to do other things that you’re so passionate about. πŸ˜‚

Here are some busking data that I recorded to give you an idea how much you can gain from doing this based on my nightly routine (spending 1 – 3 hours worth of your time on average and assuming you already have an idea when and where to busk and you do this consistently for more than a year)

Anything is an opportunity, you just need to know where to look and learn
when and how to execute.

You can download Monefy on the App Store (for iOS) or Play Store (for Android) if you want a budget tracking app for your smart phone (not a paid advertisement πŸ˜‚)

I hope this post motivates you, feel free to share your other guidelines. Now go out there and find your passion!

β€œIt’s alright to WORK for a LIVING, just don’t forget to LIVE.”

Me (as a busker): Thank you to the lovely couple who stopped and listened to my original songs. May God bless your soul .
Also me (as a trader): Hooray $MEG illiquid sentiment tonight but I see ceiling play! πŸ˜‚

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