Aside from investment capital, extreme investing may call for
additional operating expenses. And remember, this is a business, so
you need to have a business plan that projects your expenses.
It's likely you have some or all of these already, but the
following is a list of some of the expenses you can anticipate:
- computer system
- Internet hookup and monthly fees
- trade books and periodicals to learn the trade
- data feed and software for market information
- monthly fees for your data hookup
Expect to pay $150 per month for services and necessary research
support sources. In any case, you will need to be online with a
computer that doesn't make you tear your hair out because
it's so slow. If you have an older Macintosh or a 486 PC, take
it straight to your nearest charitable organization and be prepared
to get new stuff (cha-ching!—that can run another $3,000 or
more).
Trading stock options, trading in junk bonds and getting
involved in IPOs require a slightly less fancy computer setup than
does day trading. You don't need rocket execution speed, but
you may want a bigger screen to play with graphs. No matter where
your extreme investing takes you, though, you do have to spend
money to get up to speed. Books, newsletters, seminars and other
educational opportunities are available for free or for a fee; most
are available over the Internet.
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At this point, you don't have all the information you'll
need to begin extreme investing, but you have a rough idea of the
costs involved in getting set up for this venture.
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