Part-time Trading – The Best Paying Side Job You Could Have
I’m going to tell you a little story. In March of this year I was looking at the markets, reviewing the price charts to see if there was anything worth trading. In this particular instance it was the foreign exchange (forex) market I was scanning and I did come across an interesting development. You see, the Euro was setting up to making what looked to be a big break higher against the Dollar. Based on my analysis, which took all of about two minutes, I saw a pattern forming which told me to prepare for an uptrend. Now I don’t want to imply that in two minutes I found a great trade. It probably took me 30 minutes to go through all the charts that day. Oh, and since I actually wrote up the analysis of the trading strategy for my report subscribers, you can add on maybe another 30 minutes. That makes an hour. The strategy I devised that day had me buying the Euro against the Dollar at about $1.21 (meaning each Euro was worth $1.21). That was mid-March. About two months later I exited the position at around $1.28. If you are familiar with forex trading, you will know that’s a nice profit. If you don’t have forex experience, let me explain. Let’s say that I bought 100,000 Euros against the Dollar. That’s a position size of about $121,000. Because forex is a leverage market, I would only need a margin deposit of maybe $2500 to put on that trade – potentially less. At the time I exited the trade, the 100,000 Euros had increased in value to approximately $128,000. That’s a gain of $7000, which is not a bad return at all on the initial $2500 deposit. Now let’s say I checked on the trade once per day during the time I held it. That’s about eight weeks, which is forty trading days. If I spent five minutes each day looking at that trade - which is probably quite a generous figure – then I accumulated 200 minutes of trade monitoring time. Add that to the sixty minutes I used identifying the trade and creating a strategy and you have 260 minutes. Rounding that up, we’ll call it 4 1/2 hours. So if I had put on a 100,000 Euro position I would have spent 4 1/2 hours to make $7000 - more than $1500 per hour. That’s one heck of a part-time job! This story isn’t about telling you how great a trader I am. Rather, the point is that I was able to make those kinds of profits in the market without having to spend hour upon hour in front of the computer screen watching the charts and trying to interpret news events. This is something you can do as well. Let’s face it. There are a heck of a lot more people who trade part-time than full-time. The day traders, though, account for more of the noise and they have a great many people convinced that one has to be dedicated heart and soul to the markets to make good returns. That just simply isn’t true. Part-time traders are at least as capable of doing well in the markets and making a positive contribution to their financial well-being as those who spend long days focused on the market. It is just a question of managing their time well and finding an approach which suits their situation. John Forman is author of the forthcoming book Time Crunch Trading, which is focused on helping part-time traders achieve the results they seek in the time they have available. He is a near 20-year veteran of trading and investing in the markets, and author of the Amazon Top Selling book, The Essentials of Trading. |
Other Currency Trading Articles
Bulk Email Marketing To save on cost, companies are choosing below the line marketing of their products and services and the promotion of their corporate image. They are reaching out to their target audience and market with regular e-magazines and e-newsletters through the aid of the Internet and bulk email marketing.Email marketing is effective and practical ...Commodity Trading Transactions on the commodity exchanges fall into two broad categories: cash contracts and futures contracts. Accordingly, the commodity exchange may be a cash market or a futures market, or may combine both. The cash contracts for the purchase of commodities are those which call for payment of the full contract price, in cash, on delivery. Such ...Dxinone System: Is This The Biggest Scam Ever Invented? Is the dxinone system the biggest scam invented? Will I make money with this system? These are the questions some people ask themselves before they get started on ecurrency exchange.The system by itself is rather complex to learn, you have to open several accounts, and once you do you have to manage your investment properly so you always ...The Gold ETF: Maybe The Best Way To Own Gold Let's start off with the assumption that you want to own gold. You want to own gold as a hedge against inflation. You want to own gold as a hedge against a declining currency, like the U.S. dollar. And you want to own gold -- well, for the same reason you would make any investment -- because the price is likely to go a lot higher in coming years ...How to Protect Yourself Against a Falling U.S. Dollar If you use U.S. dollars in large quantities either as an American living in the U.S., or if you are a businessman that lives outside of the U.S but pays vendors in U.S. dollars, or if you are an American expat living overseas crying buckets everyday as the dollar buys less and less of the foreign currency of the country you are living in, then t ...Learn FOREX The foreign exchange market, also knows as FOREX, originated in 1973 has become the largest e-currency trade market in the world today. FOREX trading occurs 24 hours a day, 5 days a week. The FOREX market offers a unique trading opportunity to those seeking a substantial profit in a market that trades over 1.2 trillion dollars each day.FO ...A Short Introduction To FOREX FOREX is the world’s largest and most liquid trading market. Many consider FOREX as the best home business you can ever venture in. Even though regular people have had the opportunity to take part in trading foreign currencies for profit (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thi ...Online Currency Trading – Why It's Harder Today than Ever Before There are many who believe that the markets today, require the same skills as 30 years ago - but today’s markets are actually much harder to trade.It may surprise you, but markets have changed and are now harder to trade - but if you know why, you can increase your profits dramatically.If you don’t already understand why online cur ...FOREX Trading Systems – How To Pick One For Huge Gains FOREX trading systems are big business now as the internet allows anyone to use one and make big profits.The question traders need answered is - what do they look for when they buy a FOREX trading system to locate the good FOREX systems from the losing majority.This article will give clear, concise, tips for picking a FOREX trading ...Forex Trading Education Foreign Exchange (FOREX) Trading is the concurrent buying and trading of different currencies. The industry is very fast paced with sudden changes happening everyday. There are a lot of factors that affect the market value of each currency, a lot of analysis and computation involved to try to make accurate predictions of the next direction the m ...Forex Software - Choosing the Best When it comes to forex trading the forex software you choose is essential. There are so many forex trading companies all competing for your business that choosing the right forex software can be quite a difficult task. Most of the forex software products available offers live online forex trading platforms but what other components are vital w ...Globalization - Economic Dimension In simple terms, the phenomenon of ‘globalization’ is perceived as increased inter-connectedness of the world (Papers4you.com, 2006). However there are three primary defining pillars of globalization that includes cultural, political and economic dimensions (Potter, 2002). It was argued that ‘cultural globalization’ is increasing convergence of ...Forex Trader Forum - Where Forex Traders Talk About Forex Savvy forex traders often pinpoint the opportunities in forex trading and persist to time the industry so they know precisely when the right time is to trade, or buy. The problem is many traders buy at the wrong time, although they have monitored, explored, and checked the quotes daily. In addition, these people tend to bank on the notion that b ...Common Mistakes In Forex Trading When you view the statistics of successful forex trading, it can be pretty depressing. Stats show that only 95% of forex traders are making any money. With so many trading forex, why is this? Here is a look at common mistakes newer (and some seasoned) forex traders make that cause them to lose money.1. Get Rich Quick mentality. You h ...Forex Broker - Do I Really Need One? Being involved in the Forex market you may have heard the term Forex broker many times before. But do you really know what this individual does or what it means? A Forex broker is one who assists not only traders and firms, but also individuals involved in the Forex market. The Forex broker's assistance can be in providing information or may be ...Forex - Choosing the Right Broker There are a mind boggling number of forex brokers available to choose from. Choosing the right broker is the most important decision you can make for your forex venture. Here is a checklist of what you need to be looking for.1. Regulation. Just because a broker is available does not mean they are regulated. You may want to check firs ...Trend Following – This Market Offers Huge Gains and Low Risk! If you are a currency investor you need to follow trends to make big capital gains. Here we outline a trend that has been in place for nearly ten years and has been producing triple digit gains for savvy investors with gains every year.It’s NOT a currency but if you are interested in trend following and making big gains with low risk then ...Benefits Of Currency Trading Training Currency trading or foreign exchange has grown to be the biggest financial market in existence today. People have seen the potential for profit in currency trading and have shown increased interest in joining the foreign exchange bandwagon.However, most experts would agree that the currency exchange market is not really the place for an i ...Forex Currency Trading - Is It Right For You While in some ways currency trading is easy, many people who enter the market do not make money. Online Currency Trading is not a difficult process if you take your time, do your research and understand the market. Over three trillion dollars worth of transactions take place everyday in the currency market and online currency trading is now avai ...What's the Fuzz about E-currency Trading You keep hearing about this money making system that requires no selling, only an hour a day (max) and no special skill.Yeah right.At least that's the first impression for someone who has been in the internet for a while.Enter E-Currency Trading.What if you were able to provide the liquid capital for "Internet Money" ...Choosing the Right Forex Broker Today's Forex trading is well known as a lucrative way to make money online. It became an essential part for investor's portfolio as you can simply gain thousands in minutes by trading currencies at home. For those who are new to the trade, Forex means Foreign Exchange Market where it involves buying and selling the different currencies of the w ...Will I Get Rich Trading?...Probably Not Don't throw that coffee cup at your screen, I'm only being honest. Do some people get rich trading?...Absolutely. The internet is filled with talented pitch men that can hype anything from watching the stars to the latest and greatest make you rich on auto-pilot software program for your trading signals. (but the stars thing does work great wi ...Program Trading Wizened Wall Streeters say that you’ll have more investing success if you remove emotion from your buy and sell decisions. Perhaps the most emotionless approach is program trading.This is a generic term used to describe trading in stocks, options and futures based on price relationships and not on the underlying fundamental strength or we ...Online Currency Trading Modern monetary systems are far superior to the barter system people used in the old days. Inefficiency and lengthy negotiation were the main reason the barter system became obsolete. Later, bronze, silver and gold came to be used as mediums of exchange in trade.Globally, currency trading is a major business, and it is estimated that over ...Forex Brokerage Firms Foreign exchange brokerage firms play a crucial role in currency markets. They provide momentum to currency markets in various ways, such as by offering an interface to sellers and buyers of currencies and by executing transactions at their behest. They also offer margin account services, under which small traders can take much larger positions ...Online FOREX Trading - The Secret of Building Huge Profits Quickly The secret of how to make big profits with online FOREX trading is staring traders in the face - but most traders don’t see it. The secret is ...Ignore the usual advice you are given, on how to make money in online FOREX trading - and do the opposite!Read each myth outlined below - which are touted as the great ways to make money o ...Making Money in Forex Whether you’re a stock broker, mortgage broker or loan officer, FOREX trading is an essential part of one’s portfolio. FOREX trading is an extremely lucrative, yet volatile and risky market. The facts state that 95% of FOREX traders lose money in there first year of trading. Why then must FOREX be considered a part of one’s portfolio? Simply ...Currency Update – 5 Trades Correct Last Week, What Does This Week Hold With our currency update last week we had some great trades and while we were right, we also know that if we were wrong, our risk was small for all trades entered.We have had some fantastic profits last week but that’s the past, let’s look at the currencies this week and what we think will happen.Our view last week was the longer t ...Selling Information on the Internet My far the hottest money making trend on the Internet is selling knowledge in the form of e-books including digital audio and video. Most people use the Internet to do research, gather business intelligence, find fun things to do, indulge their hobbies or as a medium for the exchange of information via e-mail. The idea behind this new business ...Currency Trading: How To Get Rich And Powerful From Currency Trading Program What is currency trading?How can you get rich and powerful from currency trading?Who can do currency trading?Can you do currency trading from any country of the world?Until six years ago, when the United States Congress passed a law and made it possible for the small investors and average citizen to participate in th ...Currency Options give you Unlimited Profit Potential with Limited Risk Options give you unlimited profit potential and limited risk. If used correctly currency options will give you staying power and huge leverage, but most traders don’t know how to use them correctly.What you need to do is know how to use currency options correctly which the bulk of traders fail to appreciate.Getting the Odds on Your ...Forex Trading Strategy - Finding the Right One For You The first thing someone needs when beginning in the Forex market is a well thought out Forex trading strategy. This is because those who do not have a good foreign exchange trading strategy usually end up failing miserably. Of course those who are also in it just for a quick buck, will invariably end up losing in the long run. Those without a cl ...Make Money Fast – The Secret Of Catching the Huge Trends & Profits If you want to make money fast trading you need to catch the big trends and hold them. Most traders fail to catch the moves and if they do, they then fail to make the most of them.Follow the advice here and you can catch the big trends and make triple digit gains.1. Understand the long termMaking money fast is all about taki ...
|
