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Whenever you Google up the long-tail keyword phrase “making money with Forex,” all you will ever find are countless lists of articles that’s about trading, which would be naturally so. Obviously, that’s what Forex is all about, trading, trading, trading.
But what if you want to make money with Forex without actually trading? Can that be possible? Such would be a weird manifestation of one’s curiosity. It would be like learning how to swim without immersing yourself in water.
Sounds counter-intuitive, right? But here’s something that might amaze you… you can really make money with Forex, without really trading… but by doing things that are just connected to it, in some ways.
Let us be clear though, the following tips and methods may not be about the very act of trading itself, you need to have acquired some pretty handful trading experiences along the way, in order for you to execute them properly and convincingly, Let’s just say that the following are very cool side hustles with the wisdom that you got from your trading journey.
If you have established yourself as a Forex educator already via writing, videoing, or consultancy, you can actually make some more income by joining Forex affiliate programs. What are they? And how do they work?
The concept revolves around the idea that for every trader you can motivate into joining a certain Broker, you’ll get paid with commissions. So basically, Forex Affiliations are those tasks that you do to promote or advertise an online brokerage firm so it can be made known to others.
For instance, check out In The Money Stocks, a company with a well-established affiliate program. They claim to have a 94% success rate in all their trading endeavors. By being an affiliate of theirs, you could earn $21 for each transaction. Another is Admiral Markets.
The pay from their program is quite big, you could be paid up to $600 per client, and they take 0% commission from you. However, you need to have a deposit of $300 upon signing up.
Of course, they’re not the only Forex Brokers with very good affiliate programs. There are literally dozens of them all over the internet. Search engines could really help you with that. Just make sure you’ve read enough reviews before putting your trust in any of them.
So far, those are the best methods by which you can earn by sharing your Forex trading knowledge on the internet.
By far, this is the only technique here that’s the most closely associated with an actual trading act. This is about letting people entrust a certain amount to you, so you can do the trading for them. All they need to do is hand you the money, and just let your magic fingers do the work.
Of course, your success is also their success, which is also another way of saying that your failure is also theirs. Because nobody would ever trust a failing trader, you need to establish your reputation first before broadcasting into the world that you are a trader that they can wisely invest with.
The acronym actually stands for Percentage Allocation Money Management. Apart from Forex, such a kind of system has been applied in other business ventures as well. It has been known to really work in most cases, as long as done strategically by well-decisive businessmen.
In trekking into this, you need to explain to your clients clearly what happens if their investments win, or if their investments fail. You need to let them know what the risks are, and how high is the success or failure rate of your partnership. More often though, people who invest in this kind of system are those who expect that they would always win, so you need to really come up with a system that succeeds at all times, or at least, one that can be profitable for both parties.
Of course, this is quite hard to get by. The best way to implement this is by cutting down on the wins of the clients to a point in which they will have an almost fixed amount each time even if the wins are actually bigger than expected. This calls for some scenarios in which you will not totally reveal your trade secrets or methods to them although for sure, they would not love that.
The best thing to do is to always be transparent, so your renown as a businessman will not get damaged as you build your network within the trading business. The bottom line for this is that you need to emphasize and be very clear to the client about the percentages that you’ll take from them, as payment for the trading efforts you pour out.
You do all the labor, but both parties will earn the rewards. Be very clear with that in accordance with reasonable transaction fees. By sorting that out fairly and squarely, your business endeavor should turn out just fine.
Everybody loves free stuff. Who doesn’t? When you’re a bit exhausted with all the analyzing, speculating, and the over-all pressures trading has brought upon you, maybe you should exploit the giveaways that Forex enthusiasts can enjoy. They might not be money that you can add to your next trading capital, but they could be those tools that you can use to make the most out of your trading acts.
So what are those giveaways the likes of you and me from benefit from? They could be laptops, desktop PCs, cellphones, or some other handheld gadgets that you can connect to the internet with. Since trading can only be done with an internet connection nowadays, those who choose to hand over giveaways to various Forex traders took it upon themselves to give related equipment to them too.
So who are those generous people who are so willing to give us some free stuff? Most of them are actually Forex brokers and establishments with trading-related businesses. Technically, their very acts of giving free stuff that we can enjoy are nothing but advertisement tactics. For sure, nobody wants to give away something for nothing. When they offer you something, it means they usually want something in return from you too.
But most of the time though, those giveaways have no disadvantages whatsoever, except maybe for the annoyance that you’ll get as those people will unleash their marketing tactics on you. Forex giveaways are there for the taking, you just have to know where to look.