In this article, we will explore more ways to earn money online in 2018.
Now this is where it gets tricky. Only do these ones below if you have a capital in hand and only if you can afford losing them.
First and foremost, do not put a large amount on these ones right away. This is a learning process and a very long one at that.
Some of the suggestions has a demo account available, so use them first until you get a hang of it. Also watch YouTube videos or better buy books that explains reading patterns and signals.
These ones below are all risky. But if you do your homework before placing your money on them, and if you go in with a plan, and you know you will be able to stick on it, then you can go right ahead.
Here are more ways to earn money online in 2018.
1. Forex Trading
First is you need to know what is Forex. To put simply Forex is currency trading. You need to trade currency based on the direction you think the currency is heading. For instance if you think the USD value will go up then you Buy and if you think it’s value is going down you Sell.
In this one, you will need to sign up to a trusted broker. I did a lot of research before I finally made up which broker to signup to. My suggestion on this is to sign up at XM.com broker website.
They offer a $30 dollar bonus on sign up right now and has a 50% bonus based on your deposit amount.
My suggestion is to signup for a demo account first and install their platform. Then you can focus on learning how to read signals and applying what you learned in the demo account.
To give you some ideas, you will need to learn how to use candlesticks, learn what are pips, learn the candlestick signals, learn the indicators and learn support and resistance.
As for managing your money, you need to learn leverage, learn margin, learn stop loss, learn take profit and learn stop out.
After you learn all this, apply it in the demo account. Once you get a hang of it, sign up for a live traders account, verify your account, get your bonus and deposit a very small amount at first.
The reason why I put this as #1 is because once you master reading the signals and indicators, this suddenly becomes easy as you will be able to find high probability trades easily. You should only do high probability trades based on 3 or 4 signals converging together known as Confluence.
This method is only available at weekdays because the market is closed on Saturdays and Sundays. But you can do this anytime you are available on weekdays.
2. Online Stock Broker
This method is mainly available for the US Residents at the moment.
I am still hoping that my top choices will allow international traders soon.
Similar to the Forex, in Online Stock Broker, you need to buy a stock which value you think will go up in the future. And sell if you think its value will go down. You can also re-buy it later ones the value has gone down and if you think it will go up again.
There are two common Online Stock Broker.
The first one is Full Service Broker, this broker provides you with professional people to give you advice in which stock you should buy. And because of this, it would cost you more to signup with them.
The next one is the Discount Broker, this broker does not give you professional investment advice and basically just takes your order and place it to their system.
The best Online Stock Broker websites offer both at the same time, or something close to the Full Service. But I would suggest that you always go for the Full Service Broker, as in order to be successful in this method, you need to know a lot about the company stock you wanted to buy a stock from.
This means reading book size reports, knowing the people running the company, looking at their history and so on. This is where the professionals from the Full Service Online Stock Broker will come in to help.
They would do all the work needed, all the calls, all the readings and you just need to wait for their professional advice of which stock to go for.
3. Binary Options
I put this one as last because between these 3 methods mentioned here, your earning in this one is capped at maximum 92% return from what I observed.
As for the Forex or Online Stock Broker, the return of investment is based on how high or low the currency or stock price will go. So you could easily double or triple your investment in one long or short trade.
In Binary Options, you also trade options based on which direction the value of the options you think will go. This is basically just like Forex. But the main differences are in Binary Options there is a fixed trade expiry time. You lose exactly the amount you trade and there are no spreads.
If you understand reading the Forex signals and indicators, you can apply it in the Binary Options platform as the graphs are basically the same. You will just notice that you can choose a expiry time and the position goes exactly where you clicked the trade.
After the time expires, you will either receive your profit if you guessed correctly. Or lose the exact amount that you trade if you are wrong.
My overall choice is Forex Trading with a trusted broker, this is because I like the high return amount and I am able to limit what I lose by using a stop loss.
I also find learning about the patterns, signals and indicator fun and exciting. There is this overpowering joy inside of me whenever I do a high probability trade and the outcome I predicted is right.
Find out how to earn money online in 2018 with no risk by reading this article.