As I’ve mentioned before, this site is not only a place for me to share some of my thoughts and advice but also a place for me to learn and share my findings so you lot back home get an idea of what’s out there in the terms of money making.
My focus for the next 2-3 months is primarily going to be on trading online. I’ve already been experimenting with this idea for the past couple of months, attempting to gain at least a fundamental understanding of how it works. This has mainly been me dabbling in it on a whim but now I’ve decided to dedicated some effort into it.
Now when I say trading, my idea is mainly aimed at exploring the possibilities for day trading Forex as it’s what I’ve mainly been doing and is a lot more volatile, allowing trades to happen daily. I will however take up stocks in companies and cryptocurrency as and see how they perform over the coming months to test out short term over a long term (though in this case 3 months classifies more like a not-so-short term).
How I plan on testing this out is by trading on a platform some of you might already know. eToro is a relatively new online trading site that has seen significant success and following since it’s come online. This is where I’ve been playing around on mainly and have to say so far there are no complaints from my side.
It comes with a wide variety of tools, feeds and social mechanics and allows for trading in a multitude of markets. One of the main reasons why I find it so pleasant is because of the trial account. You can easily create a virtual account with little effort and without having to enter any seriously sensitive data like bank account, credit card or identification to get started. The trial account gives you a hefty demo sum of $100 000 for you to take a risk free swing at investing and to build up some experience of your own. This is how I’m using the site, to gain a risk free understanding of what I’m getting into.
At the end of every month I intend to share my progress on how I’m performing on this little adventure. A nice little play by play for you all to see what strategy I’m trying out and what you can better to avoid my pitfalls and mistakes.
If you’re already experienced in this particular topic or just starting out yourself then please feel free to share your thoughts and get in touch! This isn’t only a space for my voice but for you to have your say as well. Maybe you have some suggestions or would have something in particular about trading you’re curious to find out about? That’s fine too, give them to me and I’ll put them into action and we’ll see how it works together.
That’s it for the game plan at this point. If you’re curious about trading and the possibilities it holds for making some cash on the side them keep an eye on this blog for the next few months! For all you know this could be the think that reboots your life.