The Uber Trader

OK.  You know you’ve been there if you’ve Ubered.  You turn your Uber Driver App on and wait … and after you’ve waited a while, staring blindly periodically at your phone screen just to make sure you’re online and the swishing status bar continues to sweep across the bottom, you wait some more as time ticks ever so slowly by.  An hour or more passes then it happens, an audible “ding” sounds and the currently not so familiar alert flashes for a trip notification and you’re off … into the unknown, not knowing how far you have to drive or where, only a pickup location and the first name of the person on the credit card for the Uber Passenger account.

 

You pick your rider up, drive .25 mile and drop them off.  $3.35.  What the heck?  … and with a 15% tip, a whopping .50 cents, that comes to $3.85.  You’ve had this or something similar happen.  Sometimes multiple days, some times all day.  A 12 hour day and to walk away with the equivalent of $4/hour BEFORE you subtract out even the most basic and obvious cost of fuel can have you seriously questioning if the effort to Uber is worth it as a money making venture.  Lyft and other rideshare is no different … other than you wait longer.  It’s a real downer to be a Lyft driver in a market where you see all these Uber cars come into the airport rideshare lot AFTER you and leave BEFORE you.  So you run both apps.  … and you wait.  You drive in circles, sleep in your car, and wait.  Uber knew this so they have a blog on what THEY want you to do with their “5 Productive Thins To Do Between Trips” post.  We’ll focus the last item on their list were they want you to “Learn Something New”.

From here you may take up other side hustles, Uber Eats, Amazon Flex, maybe even online courses, etc, etc, only to find yourself once again … waiting.  Regardless of what you do idly waiting is wasting your time.  Time is your most valuable commodity.  Everyone’s time is of equal value, rich man or poor, it is an irreplaceable commodity.   And while time itself is infinite, your time, in this life, is limited.  You have today.  Right now, this moment.  You aren’t guaranteed a second more.  An undetected meteor, missile, stray bullet, arrow, rock … but more likely wayward driver is just a moment away to alter your existence.   What do you have to show for the time wasted, waiting for that trip alert?  You’ve cleaned your car, hand picking that tiniest bit of lint off the seat or out of the carpet.  Tire shine?  Check.  Are you working on your resume?  Been there done that.  How many hours can you spend job searching and submitting resumes on your tablet or struggling to via your phone?  You’ve checked your email for the 10th time and there’s nothing new.  There’s nothing new on Netflix either, you have binged watched “Lost in Space” during some of these waiting periods … and nothing changes.  No return for that most precious of commodities of time … until now.  Let’s change that by taking up another side hustle we can take with us where ever we go.  Something that has the potential to change our lives and our standard of living.  Let’s learn to trade stocks, bonds and options.

This is the beginning.  First the tools you are going to need and then with subsequent blogs the mechanics.  It is easy to get started, the challenge here is to make it a profitable endeavor so that you are not simply wasting your most precious commodity of time and are converting it into something valuable so you can have more time to do the things you want that are of greater importance, like time with family and friends, traveling and all those other activities that satisfy your soul.  Ok ride share driver, download the following (I’ll periodically update the following list per relevancy):

News Sources:

Yahoo Finance

CNBC

Google News

Stock trading forums and websites that I like:

cmlviz.com

KoyFin.com

SimplerTrading.com

TheoTrade.com

BullishBears.com

StockTwits.com (<– DO NOT use this for trading tips or advise, for entertainment only!  The only reason I mention it is that it is so widely known by those that haphazardly attempt to trade.)

Trading Platforms (Android, Apple, Windows and Linux all support these):

Robinhood

TastyWorks

ThinkorSwim

Once you have your tools in place, it’s time to start learning and making profitable use of that otherwise to be wasted previous time.

 

 

 

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