The idea for this article came from Madelein, my then Account Manager at ACMgold, who, after watching a particular episode of Carte Blanche, suggested this as a possible title for an article. The daily turnover in the forex market is about $4.3 trillion and considering the huge opportunities that are in the market, the question is: how can an averages Thabo or Lerato on the street start and profit from the forex business, working from home?
1 Trading the Forex Markets Directly
If you can master the art of forex trading, you will have access to an income stream for the rest of your life. Your skill stays with you. You can trade currencies as a forex home business, sitting up in bed and drinking your cup of coffee as you do so. You will be the master of your own destiny.
Some of the many benefits of trading the Forex market include the following:
- Forex Trading can be done from anywhere. You only need a computer and an internet connection.
- Huge trading volume. Its a trillion dollar market baby which means its easier to get in and out of positions at the price you want.
- Work anytime you want. The market’s open 24 hours a day 5.5 days a week.
- Leverage can enhance your profits. Be careful though, this just as easily bite you back
- Fewer options to play with as compared to stock, commodities or the futures market (I like it simple).
- Easy to get into and low start-up costs. Even though its not ideal, you can start with a minimum investment of as little as $1 at some brokers, prices of smart devices are coming down, and so is broadband costs in South Africa.
2 Selling Forex Signals
Once you have gained at least a bit of trading experience, you will find hundreds of others looking up to you, asking for your help or begging you for your services. Everyone wants to make money, and if you have the knowledge of how to make money trading forex you will have a steady stream of potential clients to sell your trading alerts and signals to.
3 Selling Forex-related Software
Unfortunately (or fortunately, depending on how you look at it) not every forex trader wants to put in the work necessary to learn how to trade the markets profitable and are constantly looking for the next “silver bullet”, or “holy grail” of forex. You can create an expert advisor (forex robot) based on a profitable strategy and sell them on the internet.
I’m an affiliate of a piece of software that brings me about $100/ month, which brings us to the last point.
4 Become an Affiliate and refer people to different Forex services
Forex brokers make their money from the spreads we pay as traders. They will gladly give you a share of this as commission if you can introduce new clients to them. This is one of the best forex home business models that can give an individual an endless stream of cash if well managed. I’ve negotiated exactly this kind of partnership with ACMgold, and started a forex trading business opportunity. If you’re still new to all of this, I suggest you check it out.
These are just some of the ways I could think off the top of my head and that I’m doing in my own forex home business. Find one that appeals to you, and fits in with your abilities and interest. Its a good idea sit down, write down your goals for your life (as it relates to making money) and devise a strategy to go about the business start-up.
Related forex trading articles
- Price Action Forex Trading Resources Price Action trading is one of the most powerful and simplest way to trade the market with success. It uses the “clean” or “naked” charts, without any (or only minimal) indicators and if you master this skill it will help you in your forex trading career forever.
- Forex jobs and Bloggers Wanted ACMGold is looking for junior people to manually trade client’s phoned in forex trades. Looking for Afrikaans and Hindi speaking people. Please call (011) 784 0603 for more information. These positions are ideal for recent graduates and young people looking for a way to get into the financial markets and want to join the exciting world of forex.
- Forex Affiliate Sniper Get Pre-Release Notification on Upcoming Forex Product Launches If you have been promoting forex products, you know how difficult it is to stay on top of the newest forex launches. Or if you’re new to affiliate marketing, you may have heard how much money there is in promoting forex products as an affiliate, and you want to get on to the bandwagon.