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.
People would buy a currency pair at a lower price and sell it at a higher price, and their income is the difference between the Buy and the Sell price. Broker gets a tiny commission from your trades called Spread.
Let’s assume that you have $1000 on your trading account and want to trade EUR/USD. Its exchange rate is 1.25, which means that for 1 euro you get 1.25 US dollars. Exchange rate is like a price tag at the grocery store – the only difference is that the price tags on Forex are changing all the time.
Then, you make a forecast – for example, you believe that Euro will rise versus the US Dollar.
theoretically yes, but most people lose on trading. Investing is safer. People who start trading with no experience usually lose their money very fast. And the psychology of a person who trades should be special. Very few people will resist. I suggest you investing a small part of your income until you will strat observing that you have a good portfolio that is growing faster than you earn money on your normal job. If you don't know which stock to buy here is a good ibm forecast.
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