Want to Make Smarter Money Moves?
- Mistplay: Earning money by playing games on your phone sounds like a dream. But this app really pays you playing new games with cash rewards. Download Mistplay for Free (android only)
- SurveyJunkie: Is known as the #1 paid survey site. Take paid surveys anytime and anywhere via PC, Laptop, Tablet, or Cell Phone. Join SurveyJunkie Now
- Swagbucks: Watch videos, take surveys, shop and more to earn real money. Join Swagbucks Now to Get $5 Free
- Dosh and Rakuten: Start earning cash back every time you shop with these two apps; Dosh offers a $5 Signup Bonus (after linking a card) and Rakuten offers a $10 Signup Bonus
How are you today? Tired from another hard day at work? Just want to relax and have dinner?
I get it because I was just like you 4 years ago.
But I found a way out and no longer have to go to a job that was just a means to an end.
Today, I am a free man and to stay this free all I need is two hours a day — that will allow me to make serious money from home just by using my laptop.
No, I don’t have a day job anymore because I don’t need it.
I don’t want a boss over my head, I don’t want to answer to anyone and I certainly don’t want to get up so early in the morning just to get to an office and sit there for 8-9 hours each and every day for 30 years of my life.
So what did I do to change that? I learned to trade stocks and Forex and in this article, I will share with you some crucial stocks and forex trading tips that will help you become free and happy just like me for the rest of your lives.
How to Make Money Trading Forex
There are many stocks and introduction to forex trading articles on the web, but you don’t need to know them all.
If you want to make a living from trading, you need to trade and make money each and every day. So you’re going to buy and sell the same day and not worry about tomorrow or next week – that is your strategy and to succeed in it, you’ll need to know to follow the following rules.
Forex Tips That May Change Your Lives
Is it possible to trade Forex for a living? The short answer is yes. The longer answer is, yes you can make a living trading the Forex market but you have to consistently do a lot of things right.
These tips may seem general to you but every professional trader started his great success using these tips as they are the basics of every trader. So, grab a pen and a paper, write these tips down, memorize them and follow them step by step:
1. Trade with the right amount of money – That means don’t put all your eggs in one basket. At first trading will be difficult, you will make mistakes as I did and everyone else who started and that natural, so that is why you would like to trade with a small amount of money at first, get the hang of things and as you learn the market and the world of trading, as you gain more confidence and experience with time you can trade with larger amounts.
Apply for a New Credit Card
|Blue Cash Everyday® Card|
Earn $250 Back after you spend $1,000 in purchases on your new Card in your first 3 months.
2. Don’t be afraid to lose – If you’re afraid to lose your money you will lose it, it as simple as that. You have to trade freely, with no fears, no setbacks, you have to make decisions and choices at the spot and for them to be right you should not be afraid to lose if you were wrong and that is why you should trade with a small amount at first as mentioned above. But you won’t lose too much and point #3 will tell you why.
3. Always come prepared to a trading day – Two to three hours each day should be enough so you’ll come prepared to a trading day. You should have these hours to look for stocks or currencies, write down their entry and exit points so you know exactly how much you’ll earn and limit your losses to a minimum and when the trading time comes you know which positions to enter, when to exit and how much money you’ll profit. Never trade if you haven’t done your homework – Never!
4. Trade with your head not with your gut – Trading is no casino and it has nothing to do with gambling. If you are organized, do your 2-3 hours a day homework, come prepared and know exactly when to enter and exit a position you will make money and become a pro in 2-3 years, but if you start trading with your gut, because you have a hunch or someone tipped you, because you are angry you lost some money and now chasing your losses to get it back – you will lose even more. Remember, trading is difficult at first but with time and experience you’ll know to anticipate the market, you’ll know all the trading tricks and you will make a lot of money, but you have to trade when you’re calm, cool and calculated.
5. Never stop learning and reading charts – This is maybe the best advice I can give you as a trader. The more you learn and read charts the easier it will get. You will see that after a while you’ll need only 2-3 minutes to read a chart of a stock or currency and see if you have a good entry point there to make money from it or not. Now, think about how many charts you’ll be able to read in 2-3 hours a day…all this is your daily potential for a lot of money.
Diversify Your Income
Another way that I am able to trade full time — I found ways to diversify my income. Typically, the easiest way to do this would be to use your assets to make you an income. So I will go over a few assets that you can use that most people have (home, car, laptop, etc) in order to make a liveable wage in the gig economy.
6. Your Home – No matter what kind of home or room you have to share, Airbnb makes it simple and secure to host travelers. You’re in full control of your availability, prices, house rules, and how you interact with guests. Like Uber did for Taxis before it, Airbnb is fast revolutionizing the holiday and travel accommodation industry, and you’re set to profit from it! It is an online marketplace for people with space, rooms, or even entire houses to spare, Airbnb lets you list your place for rent just like a hotel or motel.
Maybe you’re traveling overseas yourself and want to make the most of your empty place while you’re away? Perhaps you have a spare room that currently houses nothing more than empty boxes? With Airbnb, you fill that empty space in your home and fill that empty spot in your wallet with more than a little spare change.
7. You Car – Have you ever dreamed of paying less for gas each week? Well, that time has come, with GetUpside you can earn money by sharing your purchase receipts and shopping at local stores. I heard about this app on the radio and decided to try it out for myself.
The system is simple: you take a photo of your gas receipt and upload it. Then the app will digitize the receipt information and you'll get up to 25 cents off each gallon. I'm surprised I don't hear about this app more often though, I make a killing with it.
You can likely rack up an extra couple hundred this year by using it. And you can also save up to 35% at restaurants and 15% at grocery stores near you. The money you earn can be transferred to your Paypal account or redeemed for gift cards to buy at Amazon and other stores.
8. Your Laptop/Phone – Websites like Survey Junkie can make you quick money for passively sharing your opinion and trying new products.
It is 100% legit and simple: companies pay you in cash via PayPal so they can understand consumers better and survey takers can benefit.
The number one survey site is Survey Junkie, which has an 8.9/10 on Trustpilot, the highest of any survey site.
Expect to make between $1 and $50 per survey, it varies but most surveys take under 5 minutes to complete. If you're already a fan of Survey Junkie, be sure to check out our list of recommended paid survey sites.
Knowing that companies are using your opinions to make decisions about restaurants, consumer products, movies and a lot more is oddly satisfying. They also have plenty of high paying surveys to choose from, so you don't have much to lose. You can get started with a registration bonus here.
The Bottom Line
Remember. Every beginning trader started with these rules and they follow them to this day because they can/will determine whether you’ll smile each and every day, or work 8-9 hours a day in a job you don’t like. I would have wished you good luck, but we all know luck has got nothing to do with successful trading.
Latest posts by Finance Blog Staff (see all)
- Best Online Savings Accounts (Including APYs) – September 2019 - September 10, 2019
- Which Should I Hire—Employee or Contract Worker? - August 28, 2019
- How to Check Your Credit Score for Free - August 25, 2019
Did this article teach you something new?
Ⓘ Related Tools:
|Company||What You Need||Earning Potential|
|$500 to Invest in Real Estate||8.7 – 12.4% Annual Returns|
|Smartphone||Up to $50 Per Survey|
|Be a Dog-Lover (or cat!)||$250 Per Week|
|Vehicle||$60 Per Day|
|Apartment or House||$650 Per Week|
Powered by My Millennial Guide