Yes, there is a way out you can arrange your capital without actually trading. If you are a socially active person and have good friends who are into trading, you can join some good brokers and refer your social circle to them. Maximum brokers have some or the other rewarding program when you bring clients to them. It can be commission based, per client based, volume based etc.
In general it is called an affiliate or introducing broker program. But first you need to do a good research to shortlist excellent brokers. Search brokers on the basis of Broker type (A book brokers are the best), execution modal,spreads, commission structures, support system, leverages etc
Yes, mate trading requires a lot of funds, you shouldn’t start doing it with a small capital, or even with your last money, as you will burn your life on nothing. You should find a side job along it, then after farming a year, you should invest like 20% of your overall capital in stocks or forex, nor crypto. I had the same issue, and I learned to manage it at businessupside.com (this is not an advertisement I’m just sharing my oppinion) There I learned how to increase my incomes, how to get a quality jobs and even some tricks for investments. I guess you should just learn, to be profitable.
Apart from trading, you could say freelancing can help you out, but it is definitely hard and time consuming process just like the forex trading itself.
Affiliate marketing is also a great way to earn money online. But for this, you should have to understand the process and basics of affiliate to earn money.
Exactly, also, I would hazard a guess that a higher percentage of those who train make money than those who only trade. Forex Traders make money by trading. Forex Traders/Trainers make money by trading and training. I dare say that the Trainers make a more consistent profit than any trading they do. Do you agree?
These ideas are good but only doable if one is an expert, for instance an expert programmer to create any kind of program. For me it’s about saving from my primary job in order to invest more than what I gain from the market.
One can start blogging, it is trending all over the internet. For this you should only know how to create content. You can blog in any field you like and from anywhere, it can be related to your hobbies too.
this is a good solid idea and with a bit of effort and work would generate a small income. people are looking to make $100’s a week with very little effort. anyone with any knowledge knows this will not happen with out hours of work and dedication and weeks if not years of no pay to build the opportunity you need for a online income
I am not sure why most traders focus on making money instead of focusing on improving themselves as traders. It is your education that will help you make profits and not your greed.
That’s a cool thought you got there. I’d never really thought this way and now after reading your post, I’m definitely inclined towards the writing part. Having a trading experience of 6 years has made me decent enough to pen down ideas and help someone. Thanks a ton!
When you want to trade forex, focus solely on that. If you keep doing so many things at a time, you won’t be able to become an expert in any of those. It is important to understand that forex trading requires you to invest your time and money before you can make money.
Totally agree you should only trade when you feel comfortable. But what happens after you get a string of winners and you start to feel comfortable all the time?
Or after a string of losers, when you go into revenge trading mode taken over by the stress response.
How do you handle yourself then? Is it even possible?
While this is not meant to be disrespectful of your comments, there is so much advice on what you should or not do in trading, like handle emotions, let winners run, cut losses short, follow your system, trade when you are comfortable etc but so little quality advice on how to actually accomplish these things when you are up against it.