Using Forex as a Side Income for Backpacking Adventures!
I’m investing in my future by learning how to trade profitably in order to fund my backpacking adventures round the world!
I love to travel, I just wish I had more money to take longer trips/travel further, you know. While I’m studying and working as an Engineer, I have come up with a plan. A plan to do something with the spare money I have in order to make it grow enough to fund adventures! My aim is to travel the world on the money I make trading stocks and Forex as a side income! How will I do this? Read on!
Stocks and Forex are a great way to make money that beats any savings account, provided you know what you are doing! With the trading site I use you can start small (around $500 or even less) and eventually work your way up to earning enough money to fund several holidays every single year! This is going to take patience and time, but it is very doable.
|My Return on Investment over the last 7 days. A lucky week, but I feel I am starting to get the hang of trading now!|
My Travel with Forex Profits Plan
I currently have over $500 invested which I’ve grown from a $300 investment. At my current trading skill level it is possible for me to make around 2-5% profit a week. That will easily fund at least one holiday in a year! My aim is to grow this amount to $2000-$5000 invested. As an idea of money, making 5% in one week from $2000 will bank me $100. Continue that and I can fund several trips a year! All from just a few hours spent researching and a couple of trades per week made. I was a complete novice when I started out around 2 years ago and I’ve learned so much since. Let me share some tips so you can avoid mistakes.
Start with a Demo account
First time trading? You have to learn the ropes! Get a free demo account and practice trading. I personally trade Forex, but this website allows you to trade world stocks and shares, commodities and more! Another great thing about this site is that you can keep an eye on some of the most successful traders in the world and what they have invested their money in! Even better than that, you can copy them! This is a great way to find out more about trading, by learning from the experts!
When you feel ready to make a real money investment start small like I have! I would recommend starting with $300. This isn’t too small to be forced out of trading, but not too large to handle! You can always deposit more later as you get more trade savvy, but only invest what you can afford to!! As a gesture, the trading site I use gives you $20 free with every new account deposit.
Don’t trade too often
Trading can be a great way to invest money, but it is also risky! Some people think that the more often they make trades, the more money they can make. While this may be true on very limited occasions, it exposes you to way more financial risk than you should be dealing with! The best traders may only make between 1-3 trades per week. If you do your research properly, that’s all you should need to make that 5% return!
Ready to give it a go?
Do your research, abide by the tips
above, be careful with your money and you are well on your way to a
great investment! Imagine being able to travel the world on a side
income! If I can do it, anyone can! Always remember that you are putting your capital at risk by trading, so never invest more than you can handle! Hence why I use the term “side income” .