Unofficialbmw.com Forum Index Unofficialbmw.com
The UnofficialBMW BB, answers for your BMW questions.
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

So we all need money...so where does yours come from?
Goto page Previous  1, 2, 3, 4  Next
 
Post new topic   Reply to topic    Unofficialbmw.com Forum Index -> Lounge

Support Unofficialbmw.com :: Download Free Healthy Habits iPhone app!

View previous topic :: View next topic  
Author Message
BD325ic



Joined: 31 Mar 2003
Posts: 525
Location: Phoenix, AZ

PostPosted: Sat Jan 24, 2004 2:23 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

I earn a paycheck as an engineer working for a power steering remanufacturer. I make most of my money buying and selling Commodities and Options on Commodities.



Bruce
95 325ic
Back to top
View user's profile Send private message Send e-mail
donaldan



Joined: 01 Jul 2001
Posts: 1881
Location: Ft. Myers, FL

PostPosted: Sat Jan 24, 2004 6:52 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

Bruce, as a power steering remanufacturer engineer, how would you rate BMW's steering system, quality-wise?
Back to top
View user's profile Send private message
k1hb



Joined: 20 Nov 2002
Posts: 1239
Location: boston

PostPosted: Sat Jan 24, 2004 7:40 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

bruce:

how'd u learn about buying and selling Commodities and Options on Commodities.?

fred
Back to top
View user's profile Send private message Send e-mail AIM Address
rld777
Guest





PostPosted: Sat Jan 24, 2004 9:21 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

Currently a graduate student at Wheaton College, background is engineering, undergrad degree in Agricultural Engineering and will be re-entering this field next fall. Till then, living as cheaply as possible.
Back to top
BD325ic



Joined: 31 Mar 2003
Posts: 525
Location: Phoenix, AZ

PostPosted: Sun Jan 25, 2004 11:57 am    Post subject: So we all need money...so where does yours come from? Reply with quote

Don,

The design for BMW Pumps and Rack & Pinions doesn't vary that much from other manufacturers, foreign or domestic. There are some variations, the same goes for the tierods. Quality wise there's not much difference either.

The biggest difference is that all import pumps use a bearing to hold the shaft in place, all domestics use a bushing.

We reman over 600,000 units a year but get few orders for BMW's. I did an E36 rack not too long ago for a friend and happened to look up the statistics because we didn't have a core in stock. We average two per month.

The volume tells me that our steering components are more dependable than others. As with everything, there are those units that fall outside the norm and fail prematurely or last forever. Our failure analysis studies has confirmed that dirty steering fluid is the number one cause for failure.

I've rambled here, hopefully I answered your question.

Now on to my favorite subject, (Commodities).

Fred,

I got started about eight years ago by reading a book on the subject. It was extremely technical and I was going to drop the idea when a co-worker suggested I take a course by Ken Roberts. She took his course and had been sucessfully trading for several years, (none of us knew she was Trading).

Ken Roberts explains the process in a simple manner, his course is basic but it got me hooked. I paper-traded for about six months before using real money.

My trading plan has evolved over a period of time and is simple. It defines my entry and exit strategies, the required risk/reward ratios, money management and the markets to be traded. Most importantly, it removes the emotional aspects of trading. I buy/sell contracts and use options as protection, I also purchase options by themselves.

If you're trading now, how about the opportunities that exist in the grains, metals and food/softs. 2004 looks like a very healthy year!

I've probably told you more than you wanted, if you have any questions, let me know.

Good luck!



Bruce
95 325ic
Back to top
View user's profile Send private message Send e-mail
JRS



Joined: 09 Jun 2002
Posts: 2386
Location: USA

PostPosted: Sun Jan 25, 2004 12:09 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

quote:
Originally posted by BD325ic:
..(snip).. She took his course and had been sucessfully trading for several years, (none of us knew she was Trading).

..(snip).. If you're trading now, how about the opportunities that exist in the grains, metals and food/softs. 2004 looks like a very healthy year! ..(snip)..

It's the silent ones (traders) that have to be prodded to fork over information on what they're trading and how they're (winning) patterns. I congratulate anyone who dares to risk.

Hmmm... makes me wonder if I should take that Ken Roberts seminar/class. Working for a major railroad corporation, I can easily find out if shipments for grain/metals/commodities are high. If they are high - then the demand is high. I will say this: Intermodal trains have picked up in 2003 and will do so in 2004 (again).

JRS
Back to top
View user's profile Send private message
BD325ic



Joined: 31 Mar 2003
Posts: 525
Location: Phoenix, AZ

PostPosted: Sun Jan 25, 2004 3:03 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

JRS,

I agree, "Speech is silver but silence is golden". Those that are successful tend to keep their plan/methods to themselves unless pressed on the subject.

Using the freight data would be fundamental news, following that will get you into trouble. The best way to intrepret the markets is by watching the charts.


Bruce
95 325ic
Back to top
View user's profile Send private message Send e-mail
k1hb



Joined: 20 Nov 2002
Posts: 1239
Location: boston

PostPosted: Sun Jan 25, 2004 3:53 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

Thanks, Bruce

Hey thats an E36 on your picture - heresy!
I feeel belittled with my trio of 325iC's red, white and black.

Seriously:
How much time per day do u spend trading for profit, studying the "opportunities" incl.?
Do you do foreign ccurrency futures and hedging?


Fred

[ 01-25-2004: Message edited by: k1hb ]
Back to top
View user's profile Send private message Send e-mail AIM Address
BD325ic



Joined: 31 Mar 2003
Posts: 525
Location: Phoenix, AZ

PostPosted: Sun Jan 25, 2004 4:25 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

Fred,

I spend about 45 minutes a day reviewing the charts, checking the days activity, making decisions on what I'm going to do and then entering my orders.

I've traded the British Pound and Eurodollars. I tend to stay away from markets that are influenced by Governments or political decisions, the volatility can get out of hand.

I "hedge" or protect all long or short positions with options rather than stop loss orders. The options keep me in the market, (keeps me from getting stopped out). If you're not in the market, you're not making any money.

Bruce
95 325ic
Back to top
View user's profile Send private message Send e-mail
Roadstergal
Site Admin


Joined: 13 Nov 2003
Posts: 1655
Location: San Mateo, CA

PostPosted: Sun Jan 25, 2004 9:53 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

quote:
Originally posted by toolman7672:
Well I guess I know when I am out-classed. I am primarily a machinist.


Actually, I think you're one of those whom alanfp was thinking "earns an honest living."
Back to top
View user's profile Send private message Send e-mail
k1hb



Joined: 20 Nov 2002
Posts: 1239
Location: boston

PostPosted: Mon Jan 26, 2004 7:24 am    Post subject: So we all need money...so where does yours come from? Reply with quote

If you're not in the market, you're not making any money.

Bruce

yahhhhhh..... but:

If you're not in the market, you're not loosing any money.

Maybe you do?

I'll have to look into this options trading. Clearly daytrading stocks is unpredictable and boring.

Fred
Back to top
View user's profile Send private message Send e-mail AIM Address
BD325ic



Joined: 31 Mar 2003
Posts: 525
Location: Phoenix, AZ

PostPosted: Mon Jan 26, 2004 8:40 am    Post subject: So we all need money...so where does yours come from? Reply with quote

Fred,

Yes, I lose money on some of my trades.

Without risk, there can be no reward. I recommend that you find out for yourself by investing in a course and seeing what's involved.

Trading commodities is not for everyone, there are emotional/psychological issues involved when real money, (your money) is on the line. I learned after several years that my trading success was within me, not some external force.

Good luck

Bruce
95 325ic
Back to top
View user's profile Send private message Send e-mail
markf



Joined: 23 Jan 2003
Posts: 1026
Location: Bainbridge Island, WA.

PostPosted: Mon Jan 26, 2004 9:51 am    Post subject: So we all need money...so where does yours come from? Reply with quote

I work for the Federal Aviation Administration, but Parsons Corporation signs my checks.
I wear 2 hats.. one is 'Systems Analyst III', and I wear it here: TSSC Project
(No.. its not Helpdesk)

The other is within the 'Parsons TSSC-Central Solutions Group', where I am the, 'All-Western Regional Director.' ( way more title than work)

DALE.... I used to work for 'Tom Eastgard', at Verio, as a systems Engineer, (before NTT bought them).
Do you know Tom, over at Amazon? I believe he is VP -network Engineering, there, now.

[ 01-26-2004: Message edited by: markf ]
Back to top
View user's profile Send private message Send e-mail
dale



Joined: 22 Aug 1999
Posts: 3087
Location: Seattle, WA USA

PostPosted: Mon Jan 26, 2004 12:23 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

I met Tom when he was moving into the area. He's no longer with the company.

Dale
Back to top
View user's profile Send private message
markf



Joined: 23 Jan 2003
Posts: 1026
Location: Bainbridge Island, WA.

PostPosted: Mon Jan 26, 2004 1:36 pm    Post subject: So we all need money...so where does yours come from? Reply with quote

dale..yea, he left to colorado, after Verio, but returned for the Amazon position.
He was on Bainbridge for a bit. I bumped into him on the ferry a couple times.

You know.. He built Verio with a small group of guys, and a handful of investors. They always intended to sell. NTT paid 5 billion. After Verio, He went to colorado because those same investors wanted to do it all over again, but then the big crunch came down, and they withdrew...
I wonder where he went now..? Im sure he'll land on his feet, wherever that is.
Back to top
View user's profile Send private message Send e-mail
Display posts from previous:   
Post new topic   Reply to topic    Unofficialbmw.com Forum Index -> Lounge All times are GMT - 5 Hours
Goto page Previous  1, 2, 3, 4  Next
Page 2 of 4

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



Powered by phpBB © 2001, 2005 phpBB Group