Stock trading has always been the type of job that we hear about and see in movies and books, but it never really works out the way we want it to. Day trading can either be seen as glorified gambling or one of the few ways to truly get rich without having to slave away at your day job for decades. But if there’s one thing for sure, the idea of trading gives people hope that they too can become rich and wealthy without doing much work.
But that’s far from the reality.
Traders can and do make a lot of money, but the income fluctuates a lot depending on factors like your personal investment and even luck in some cases. But while it’s far from gambling, can part-time traders actually make any money? Or is this something that is generally reserved for full-time traders that make it their sole source of income?
One of the easiest ways to save time and money with trading is to use a platform. These are usually websites or smartphone apps that you can use to trade more easily. You can look for the best FX broker or cryptocurrency specialists and they’ll typically offer you easy access to features that traders would normally need to pay money for. While there can sometimes be a commission fee or other costs involved, it’s generally the most accessible way to start trading.
While using a platform is the norm, there are many traders that work with providers to buy shares and funds instead. While this is great if you know how to do it, most people that want to try trading part-time would be much better off using a platform to learn the basics. Once they’ve played around with the platforms enough, they can decide if they want to invest more money into them or not.
“It takes money to make money” is an old saying that couldn’t be closer to the truth when it comes to trading. Making a 1% gain on something is great, but it doesn’t sound much when you’re only getting a few cents from it. But if you invest more money, then those cents will turn into dollars. The effect will keep on growing, so it’s important to remember that trading gains are directly related to the amount of money you invest.
As such, if you’re investing with just your extra income from a side job then you’re not going to make much. However, if you invest a lot then you’re going to get more money. It’s really as simple as that. Part-time traders that can invest thousands into a trade are going to make more money, and a full-time trader that doesn’t have much to invest will make a fraction of what a regular 9-to-5 job could earn.
So if you’re going to start trading, make sure you have both the time and money to invest in it to see the most noticeable gains.
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