This is a Contributed Post
CAN YOU MAKE MONEY TRADING IN STOCKS AND SHARES?
Right now, many of us are looking for simple ways to earn money. Perhaps you’re tired of your current job. Maybe you’re looking for a new career. Maybe you want to do something more engaging or something you’re actually interested in on a day to day basis. Or, maybe you want to generate a whole lot of money to live a better quality of life. If you’re mulling over these possibilities, it’s not all too surprising that you might be considering a career in trading stocks and shares.
Making money trading in stocks and shares isn’t necessarily the same as it’s shown in films. You don’t necessarily have to work on Wall Street in huge buildings packed with thousands of people. You don’t have to shout down the phone. Instead, it’s a feasible career option for many people. Here are some of the basic questions you need to ask yourself if it’s one you’re genuinely considering pursuing!
Which Market Do You Want to Specialise In?
When people talk about stock markets, they’re not necessarily talking about one, giant, unanimous market. Instead, there are a number of different markets that you can trade in. While some people have a knowledge of them all, you don’t want to be a Jack of all trades. Instead, it’s a good idea to specialise. This will make you the master of one trade and improve your chances of earning more money.
Generally, people will opt for stocks, foreign exchange or options. Alternatively, you could get involved in CFD trading. CFD stands for “contract for difference”. When you trade in this field, you’re not actually trading assets or commodities that you or the individual paying you own. Instead, you get involved with derivative products. These allow you to trade on the price movement of underlying financial assets across forex, stocks, and options. This gives you plenty of scope.
Do You Want to Be Employed or Work Independently?
Once you’ve decided which market you want to get involved with, you have a second decision to make. You need to figure whether you want to trade for an employer or whether you want to work independently. Working for an employer gives you a fixed salary. You also get perks such as paid annual leave, parental leave, sick leave and compassionate leave. This is secure, but you could find someone else is profiting off your hard work much more than you are if you’re successful.
If you work independently, you can take home the full share of your work. However, if this isn’t a good amount of money, you’ll find yourself raking in a small income some months.
Becoming a trader for a full-time income may take a little time and practice. It’ll also see you go through a lot of decision making. If you decide to go for it, you could really come out of the other end with a huge income and great success. You just need to decide if it’s a path you’re willing to take!
YOU MAY ALSO LIKE:
How to Make Money with Matched Betting
27 Ways to Make Money from Home in the UK
20 Cogs Review – Can You Really Make an Easy £200
10 Passive Income Ideas You Can Start Today
