Is Trading A Viable Option To Make Money Online?
When it comes to making money online, there are actually many different ways for you to do it. I always recommend being a freelancer because I believe this is the easiest and one of the surest ways to make decent income online. But not many people view freelancing as a first option when it comes to making money online. What many people are eager to learn about is making money by trading, whether it’s stocks, forex, or cryptocurrencies. And I get the reason why its so appealing.
It’s really not that difficult to execute a trade in the financial markets, especially with all of the online brokers available today. Then there are also many advertisements and marketing campaigns out there that are further promoting the trader lifestyle, making money using only your laptop or smartphone device then living a life of fast cars, private jets, and so on. But are all these things true? Can you really make money trading online? Let’s discuss in this blog post.
When it comes to making money online, there are actually many different ways for you to do it. I always recommend being a freelancer because I believe this is the easiest and one of the surest ways to make decent income online. But not many people view freelancing as a first option when it comes to making money online. What many people are eager to learn about is making money by trading, whether it’s stocks, forex, or cryptocurrencies. And I get the reason why its so appealing.
It’s really not that difficult to execute a trade in the financial markets, especially with all of the online brokers available today. Then there are also many advertisements and marketing campaigns out there that are further promoting the trader lifestyle, making money using only your laptop or smartphone device then living a life of fast cars, private jets, and so on. But are all these things true? Can you really make money trading online? Let’s discuss in this blog post.
My Experience with Trading
Trading is not a new concept to me. As I’ve tried it before. I began becoming interested in trading at around 2011, when I was still working in the financial industry. You could say working in the industry piked my interest in the financial market. By 2012, I started to putting money in the Philippine Stock Market, but not as a trader, but as an investor (there’s a big difference between the two that I’ll discuss in a separate blog post). I kept on investing for about 2 years before I pulled out all money on the stock market.
I did earn some money, but it’s not that big. This is because I didn’t really invest a lot of money so my returns aren’t huge as well. Plus, I only kept it there for almost 3 years, so it didn’t had a lot of time to grow. The period when I started pulling my money out was also the period where I’m starting to learn more about trading. First about the stock market and then about the foreign exchange market. Trading is a much faster way to make money via the financial markets, but it’s also riskier.
During this time, I began to focus more on the forex market since there are many limitations to the Philippine Stock Market. The forex market also offers more volatility compared to the stock market in the Philippines and volatility is very important for a trader. I even took a Forex Trading course to learn more about it since I’ve tried attending only seminars conducted by brokerage firms. I believe their seminars are missing something since I wasn’t really making consistent money in my demo accounts.
It was during the Forex Trading course where I learned more about the ins and outs of forex trading. I learned about the research and analysis involved before executing a trade. It opened my eyes as to the kind of work needed to make money as a trader and then do it consistently. Using the methods that I’ve learned, as well as copying the traders of my mentor, I made money trading forex. I was able to earn back my initial investment, which showed me that it’s possible to make money as a trader.
It only took me about a month and a half to earn that back, so I was really confident. I did learn the hard way that overconfidence in a trader is very bad. After I earned my money back, I invested more, hoping to replicate my previous success. Unfortunately, it didn’t work out as I had hoped. I ended up losing everything within 8 months.
Trading is not a new concept to me. As I’ve tried it before. I began becoming interested in trading at around 2011, when I was still working in the financial industry. You could say working in the industry piked my interest in the financial market. By 2012, I started to putting money in the Philippine Stock Market, but not as a trader, but as an investor (there’s a big difference between the two that I’ll discuss in a separate blog post). I kept on investing for about 2 years before I pulled out all money on the stock market.
I did earn some money, but it’s not that big. This is because I didn’t really invest a lot of money so my returns aren’t huge as well. Plus, I only kept it there for almost 3 years, so it didn’t had a lot of time to grow. The period when I started pulling my money out was also the period where I’m starting to learn more about trading. First about the stock market and then about the foreign exchange market. Trading is a much faster way to make money via the financial markets, but it’s also riskier.
During this time, I began to focus more on the forex market since there are many limitations to the Philippine Stock Market. The forex market also offers more volatility compared to the stock market in the Philippines and volatility is very important for a trader. I even took a Forex Trading course to learn more about it since I’ve tried attending only seminars conducted by brokerage firms. I believe their seminars are missing something since I wasn’t really making consistent money in my demo accounts.
It was during the Forex Trading course where I learned more about the ins and outs of forex trading. I learned about the research and analysis involved before executing a trade. It opened my eyes as to the kind of work needed to make money as a trader and then do it consistently. Using the methods that I’ve learned, as well as copying the traders of my mentor, I made money trading forex. I was able to earn back my initial investment, which showed me that it’s possible to make money as a trader.
It only took me about a month and a half to earn that back, so I was really confident. I did learn the hard way that overconfidence in a trader is very bad. After I earned my money back, I invested more, hoping to replicate my previous success. Unfortunately, it didn’t work out as I had hoped. I ended up losing everything within 8 months.
Final Thoughts
When I lost all the money invested in forex, I quit trading and that’s also when I discovered freelancing. But that doesn’t mean that I’m closing my doors on trading. I still plan to do it again, I just need to relearn everything, come up with a good trading system and strategy that would suit my style and schedule, and then start trading once again. However, the road to becoming a successful trader is not going to be easy. It will require dedication, hard work, and an appetite to constantly learn and develop yourself.
So, is trading a viable option to make money online? I would say yes that you can make money from trading. But don’t expect it to become your main source of income, at least not outright. It will take you time and a lot of effort before you can reach that level. And there’s no magic formula, software, or trading system that can speed up the process. There’s a reason why majority of traders don’t make money, it’s because its not that easy to do so.
There are many factors that affect the movement of the market and you have to be aware of almost all of them to ensure that your trades are successful.
cryptocurrency, forex trading, Making money
When I lost all the money invested in forex, I quit trading and that’s also when I discovered freelancing. But that doesn’t mean that I’m closing my doors on trading. I still plan to do it again, I just need to relearn everything, come up with a good trading system and strategy that would suit my style and schedule, and then start trading once again. However, the road to becoming a successful trader is not going to be easy. It will require dedication, hard work, and an appetite to constantly learn and develop yourself.
So, is trading a viable option to make money online? I would say yes that you can make money from trading. But don’t expect it to become your main source of income, at least not outright. It will take you time and a lot of effort before you can reach that level. And there’s no magic formula, software, or trading system that can speed up the process. There’s a reason why majority of traders don’t make money, it’s because its not that easy to do so.
There are many factors that affect the movement of the market and you have to be aware of almost all of them to ensure that your trades are successful.
cryptocurrency, forex trading, Making money
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