Last week I got a startling question from a reader asking about the easiest and best way to make money online. It was a question from a newbie who has spent lots of money buying one internet gimmick after another, lured by the false promise of instant money. This reader’s concern is mostly an anxiety shared by many who venture into online money making opportunities.
At first I did not know how to respond without bias, myself as a trader. Yet I wanted to answer forthright and candidly as possible as I can. I had to bump the concern of this reader ahead of my scheduled post, the third post on Forex Trading which was queued up for publishing. I will return to Forex Trading in my next post but for now let’s take care of this reader before he loses his mind.
Here is the question submitted by a reader I will call Tony to insulate his identity as requested: Question: Over the years I found myself buying almost any product about online money making opportunities. After trying a good number of them without real success, how can I be assured that trading is not another pipe dream, down the rabbit hole?
The Answer: Dear Tony,
Thank you for your question and most importantly for being a reader of my blog, The Apprentice Trader. Your concern is one shared by many people looking for money making opportunities. I’m not going to provide you with a sound-bite answer to make you feel good, rather I’ll use my experience to lead you to your own conclusions. Today the web is almost saturated with so many opportunities scheming and competing for attention unlike anything seen before now. Nothing is wrong with that but understand that you need to work twice as hard to gain attention and convert it into money. I started my journey like you, buying up almost anything that my money can afford. I made a few bucks here and there but nothing spectacular to hang my hat on. Nothing really!
For years I suffered from information overload or should I say shining object syndrome. One day I decided that it was over for the following reasons. I realized that internet marketing is not really a profession, it’s more or less a means to an end. The more I tried to learn about it the more I realized that it is a fashionable process, a means to an end. I made a decision that to make serious money online or offline, you need more that a fashionable process that online marketing has become over time.
I realized after so many detours that a set of trading skills will complement very well with my money making business because you are never at the mercy of any buyer to make a living. Your trading skills are more than enough to rank you well above many people who are struggling to make money online with one product or another.
Advantages of Trading:
1. You acquire lasting and marketable skills that endures with time.
2. You stand to make lots of money in a very short period of time without being pushy with products that frankly speaking most of your buyers may not need nor use.
3. You will not be in a circular firing squad sniping at other marketers or poaching for customers, filling their inboxes with email that are never read but deleted most of the time.
4. With Trading, it’s you, your computer and the market.
5. With Trading, your income does not depend on someone buying a product from you or your affiliate.You make money either way the market goes. In a down or up economy you will always make money provided you learn the needed skills.
Disadvantages of Trading:
1. It requires time and patience to learn new skills.
2. Just as you can easily make a fortune trading bonds, currencies, commodities or stocks, you can lose it too in the same breath if you are careless with risk management.
3. Trading can be a lonely enterprise.
Internet Marketing, the fashionable process of moving products is saturated with old and new entrants facing increasingly skeptical and wise buyers who are always guarding their wallets, unwilling to part with their hard earned money. I’m sure you are one of those wise buyers because you’ve started asking questions, resisting to surrender your money in the face of mountain freebies like ebooks and other gimmicks. You see my point, Tony?
It is time you learn new skills because the year is half gone. Many gurus and wannabies will end the year the way they began it, poor and unable to change the trajectory of their life. This is your chance to change the songs of sorrow that you’ve been singing all these years. Stop spending like a drunken sailor on products and services designed to steal away your money, and start trading today.
Open a demo account today, fund it and take a chance with brokers who are ready to help you with additional information.
I’ll recommend to you two sites that I like a lot for currency trading. They are FX360.com and KathyLien.com. They might appear a bit advanced but stick to these two powerful sites in time you will discover that Kathy and Boris are among the best in this industry if Forex Trading is your focus as your email seems to suggest.
Don’t shy away, leave me your comments and send your questions using the contact form. I will do my best to answer them as time permits. Next post will be the continuation of Forex Trading Part 3, the subject will be on Margin accounts. I invite you to stay tuned for these life changing series of posts designed to unleash in you the silent forces of wealth creation.
{ 3 comments… read them below or add one }
I like your advise Nick. I know you've really learned from your past mistakes. Adding more mistakes is good to gain more experience but doing the mistakes again is another story.
To Tony: It's ok to buy online but be sure what you bought is really good and you will use it. Information overload will lead you to read and read. What you'll need is to take action. Focus on one thing before doing another money making strategies that you come across. It's still ok to get or do all money making opportunities if you have money to support it, I mean you need to outsource it. Don't do it alone. Outsourcing is the key if you have many ideas and if you have money to support it but if you don't have then focus is what you really need and make it step by step to finish it. Good luck!
Thank you, Ross for your kind comment. Your contributions will always be an added value to this blog. I'm happy for your insight and support in all areas of this business.
Thanks for the useful info. It’s so interesting.