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"Online trading can replace work." How to learn how to make money online trading



"Online trading can replace work." How to learn how to make money online trading
Economists cite unemployment as one of the main problems. Loss of income is especially critical during a crisis. We asked traders to tell you where to start getting to know online trading and how realistic it is to get 1 thousand dollars a month.

Unemployment is one of the main problems of the modern economy. This situation may have worsened during the crisis. Around the world, companies affected by the COVID-19 pandemic have begun to cut jobs to reduce costs, and those who have lost a source of income have to look for replacements. One of the solutions could be online trading or investing in cryptocurrency.

Working with digital assets has advantages over traditional options. For example, this is an opportunity to work both from home and from any other place where the Internet is available. The trader does not depend on the employer and chooses the work schedule himself. Most importantly, there is no fixed salary, its size depends on skill and luck. If they are high enough, online cryptocurrency trading can replace work and even provide "significantly more."

"Trading and investing can replace work and even give you a lot more. I'm not sure that even with a good job, you can gain financial independence. But trading and investing just allow you to achieve this goal, "the trader said.

He warned that it is necessary to put in a lot of effort and time to acquire knowledge and experience to become a successful trader or investor. With the acquired skill, you can reach a monthly income of $ 1 thousand, although this will require a capital of $ 15 thousand.

"What capital is needed to get $ 1,000? It depends on various factors: where you trade, what market conditions have developed in this or that market, what is your trading style, what is your level of knowledge and experience. If we average all the necessary parameters, calculate on average 5-10% per month. With the right approach, this is real. Capital is required for 5 thousand to 15 thousand dollars, "the practitioner suggested.

Another trader described trading as a full-time job. The trading skill will take a long and hard study. At this stage, 90% of users will lose capital and leave the market. Therefore, you should not assume that speculation in digital assets will bring easy money.

"A good trader is like a hunter. He knows the time and places for the best hunting, he has the equipment and a dog, that is, capital, resources, and knowledge. Preparation increases his chances of getting loot but does not guarantee it. If a person thinks that trading is easy money, then he is not here, "an experienced trader is sure.

He noted that trading in financial markets does not provide a smooth income. A trader can earn enough at one time and then have no profit for a long time. If the user is interested in a confident passive income, you can choose to invest in fixed income instruments.

The managing partner of the investment firm Asset Management also warned traders to be careful when examining the financial markets. Learning active trading on your own is rarely successful. This is systematic and complex work, without experience and strong mentors, the probability of the desired result is small.

"Let's say a person wants to earn $ 1,000 a month. Provided that he doubles this amount in a year, that is, he receives 100% of the profit, he will need 10 thousand dollars of free funds. However, getting 100% profit from year to year is almost unrealistic. There are single funds in the world that show such a result, and there is a queue of investors in them. A more realistic scenario for a novice trader is 15% per annum, "the trader calculated.

During the COVID-19 pandemic, people's interest in financial markets has skyrocketed. Crypto exchanges reported an increase in the number of registrations and the volume of trades by users. In Asia, the Olymp Trade application for trading stocks and digital assets has become very popular, said a leading trader.

After the outbreak of the pandemic, when many people were forced to stay at home, Olymp Trade experienced an unprecedented influx of new users who rushed to speculate in the financial markets. The number of traders at some point has grown so much that at some point they began to consider it a real force in the market, - said the trader.

He gave some tips in case the user decided to try his hand at trading stocks and cryptocurrency. First, do not use margin leverage, which increases both the working capital and the risk of losing it. Secondly, do not "sit out" the loss, but be able to fix it in time. The third is not to average the position. If you purchased an asset, and its price began to decline, it is risky to buy in addition.

Novice traders are advised first of all not to count the potential profit and not think about what can be bought with it in the near future. Better to focus entirely on getting the right knowledge and experience. This is the foundation for future success.

The trader emphasized the importance of training and suggested starting trading by opening an "experimental" demo account or with a small amount. It is safer to allocate no more than 10% of the investment portfolio for online trading due to its volatility. The expert also recommended not to play short. All of this will help reduce risks. The optimal portfolio for a beginner is a combination of ETFs and bonds, the volatility of which is lower than that of individual stocks.

He also added that a trader should invest only those funds that are not a pity to lose since most beginners end up in this way. As literature that will help with the development of online trading, the expert suggested "Memories of a stock speculator." This book has not lost its relevance for almost a hundred years.

Experts admitted that online cryptocurrency trading can replace work, but this is an extremely difficult and risky job. It is unlikely to provide a permanent income, but if you develop your trading skills, you can get about $ 1,000 a month with a capital of $ 10,000. However, with the same probability, you can not earn anything and even lose. It is also important to consider the risks: scammers, hacker attacks on exchanges, and high volatility.


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