Forex day trading: 5 mistakes to avoid - Investopedia

Looking for advice to generate some income streams through Etrade (US)

Hey Everyone, I was hoping to get some advice on how to generate some revenue streams utilizing my etrade account. Any advice would be helpful, here's some background. As far as my portfolio goes, I suppose it's pretty non existent. I have a few healthy 401k's, and some Rollover IRA's housed with Etrade and of course a savings. I also have another portfolio within my etrade that I use for investments, but it's primarily playing around with stocks that are generally long term investments. what i'd like to do is utilize my etrade account to start generating some revenue monthly. I have low expectations and i'm not looking to live off of this, but instead learn and generate a couple hundred bucks a month and eventually of course more. I'm not necessarily looking to day trade, so here's where the question comes in; is there anything i can do along the lines of buying into perhaps ETF's or mutual funds that would be liquid enough for me to net some profit from? for example, could i start with a lump sum of a couple of thousand dollars and buy into 1 or multiple ETF's or mutual funds that i could extract the daily/weekly/monthly gains and either reinvest it or withdraw it, pay the taxes and use the rest for bills etc?
is there any other advice or suggestions that would involve generating more liquid gains from a higher investment monthly? example, starting with a lump sum of a couple of thousand and every paycheck having a couple of hundred dollars withheld to add into the investment? perhaps dollar cost averaging? Forex trading? net net, how can I make my money work for me, even just a little?
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Is there any good finance side hobby to play with my money?

So I make decent money as a programmer. I probably save 1.5 - 2k a month and currently have about 50k saved up plus max matching 401k.
Recently I've gotten bored and want to have a side hobby but rather it be productive. Is there any financial thing I can do daily to make money and expand my knowledge? I'm not even looking to make a profit and would actually be willing to lose 5-10k I just don't want it to be a straight gamble.
I know people here frown on day trading and forex, etc. but are any of those ever actually successful? I'm not looking for good odds, I'm looking for something to challenge myself to learn and try that at least has a chance of working. I'm also willing to take state college courses in whatever topics necessary up to a year (and then some but would like to have at least started the hobby with by a year in of learning).
I know this seems like an odd request but I used to do contract programming work on the side and made good money but now want to do something in a different field (mainly finance because i loved it in college) on my off time that's not programming. Thanks!
submitted by financenewber to personalfinance [link] [comments]

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