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08-12-2020, 05:47 AM #1
Can Forex trading be a source of income?
I want to start trading as a side job. I have a family and my current salary isn't enough for the monthly expenses.
08-12-2020, 07:41 AM #2
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I would get another job before I would start "trading". I had a friend who was in Mensa, so a genius. Retired early with a bundle of money, did day trading until it was all gone.
If you know so little about this that you have to ask on a general interest forum, it's probably not for you. Or this might be a setup for spam, in which case it will get reported.Make America Kind Again.
08-13-2020, 09:31 AM #3
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It is probably the worst choice for earning extra money. With commission only jobs the worst you can do is earn zero money. With day trading you can easily end up with less money than you started with.
I say this as someone who has investments. I invest in a balanced portfolio, not individual stocks. It makes money - most of the time - but it is about long term investing. For example, you might double your initial investments after ten years. Of course it does not make money every year and sometimes it loses money. 5 to 10 percent a year is common when you average all the good and bad years together.
Of course this is assuming there are only normal ups and downs not a big stock market crash.
But investing should be done with extra money after you have paid the bills, paid off debts, got an emergency fund, etc.KathyB
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08-18-2020, 01:09 PM #4
Good day. I think this is not possible in 2020. This has already moved into the second place. Better to learn something new. Various programming languages can be learned. For example, I read the article - "How to Build a News Aggregator Website in 2020 | LIGHT-IT" and then decided to do it myself. Now I'm going to put it to work, I hope I will succeed.