The New York Stock Exchange, aka NYSE, was first established in 1792. Twenty-four stockbrokers signed an arrangement under a tree at 68 Wall Street. We recommend you watch a stock market documentary on the history of this great American institution. Find out more about how to make a lot of money in stocks.
So, can you make a lot of money day trading? This is probably your main question right now.
Day trading means buying and selling a financial asset within a specific time frame. Your main goal is to take advantage of lucrative price moves and changes.
Day trading is really high volume. Day traders buy and sell a lot every day. They take every chart and price fluctuation seriously and do their research thoroughly. So, it is a full-time job. More than that, it is a very stressful full-time job, with long hours, early mornings, and lots of coffee. A day trader needs to be focused, meticulous, driven by objectives, and without emotions. I know it sounds strange, but there’s no place for emotions in day trading.
So, is this the only way to make a lot of money in stocks?
Make a Lot of Money in Stocks with Forex Trading
Looking for trades that make a lot of money, are we? Then you’ve probably heard of Forex trading by now.
Forex trading is the process of trading national currencies. It is a global marketplace with liquid assets. You trade currencies against each other. For example, you can trade Euro against the U.S dollar.
In April 2019, the Forex daily trading volumes were at $3.3 trillion. The 2021 worldwide forex market is now $6.6 trillion in average daily volumes. So, it’s growing, and it’s enormous.
What makes Forex trading unique is that there is no central marketplace. You trade over the counter electronically. The market is open 24 hours a day, for five and a half days a week. Why? Well, when the trading day ends in the U.S, the Tokyo forex market opens. So, you can trade all you want, all day long.
The Forex Market History
Well, people have always exchanged currencies and goods. Nevertheless, the Forex Market history is more modern than that. In 1971, the Bretton Woods accord shattered, and all the foreign currencies were no longer pegged to the U.S. dollar’s value.
These days, demand and circulation dictate a currency’s value. Add the arrival of the internet, and everyone can trade on the Forex market now. There is a retail market for individual traders now. Different brokers or even banks offer this secondary market for individuals. And you can get started with a small account balance.
So, can you make a lot of money with no experience in Forex trading? Not really. First, you need to know some basic Forex terms.
The Forex Terms you Really Need to Know
So, what do you do before you become a pro and know exactly what things to seal that will make a lot of money in trading? You study, and you learn. These are some basic Forex terms that you should know.
This is the account you need to trade currencies. There are three sizes:
- Micro forex accounts (limited to $1,000 in one lot)
- Mini forex accounts (limited to $10,000 in one lot)
- Standard forex accounts (limited to $100,000 in one lot)
This is the lowest price you are willing to pay for a currency. It should be greater than the bid price.
The bid is usually lower than the ask prices because this is the price at which you want to sell a currency. Nevertheless, when demand is high, bid prices can be greater than ask prices. So, you might want to keep an eye on that.
So, a bear market is bad in Forex. It means there is a downtrend in all transactions. The financial crisis, global pandemics, political events can determine bear markets. So, stay on guard for any sign of that.
This is the opposite of a bear market. On a bull market, all the currency prices go up. This means that the world economies are booming. So, time to make a lot of money in stocks, right?
Contract for difference
Based on a contract of different, you can speculate on the price of a currency without actually owning it. It’s like a bet. You basically buy and sell CFDs (contracts for difference). Nevertheless, it’s quite dangerous to do all these when you don’t have much experience.
In Forex trading, you can borrow capital for better returns. You can use these leverages to boost your assets.
For example, you can put up $500 of your own money and borrow $1,000 more from your broker to bet against the dollar in a trade against the Euro. If your bet is correct, you make significant profits. If it goes wrong, you can record considerable losses. So, we recommend you use high leverages only when you’ve gained some experience in Forex trading.
In Forex, you trade in lots. The standard lot is 100,000 units of a specific currency. The mini lot size is 10,000 units, and the micro lot is 1,000 units. Some brokers offer nano lot sizes of 100 units. So, it depends.
Nevertheless, you should know that you trade in lots of currencies.
The margin is money you need to have in your account to assure the broker you can meet any potential monetary obligations. So, if a trade goes wrong, your broker needs to make sure you have the money to pay for it. How much? This depends on the trader.
It comes from “price interest in point”. More precisely, one pip is 0.0001. So, 100 pips mean 1 cent. The pip depends on the lot size. For example, in a lot of $10,000, a pip would be $1.
The difference between the bid and the asking price is called the spread. This is how you make a lot of money in stocks and Forex.
So, now you know all the basic Forex terms. Is forex trading a business idea that will make a lot of money? Only if you have the right tools.
So, Enter Forex Trendy
Forex Trendy is a Forex trading tool that offers about 306 Forex charts with the most traded currency pairs across all time frames. In addition to that, Forex Trendy also shows data for gold, silver, and oil trades.
So, Forex Trendy can help you find the best deals out there. The software streamlines data analysis and tones it down to manageable bits. The service offers:
- Live charts of currency pairs
- E-mail alerts for great deals
- A user-friendly interface that you’ll easily get used to
- The possibility to quickly overview all the growing trends, from all the time frames
- Automated chart analysis
How to Make a Lot of Money in Stocks with Forex Trendy
Once you purchase the products, you will have access to the Members’ Area. Moreover, you can give the software the green light to analyze the Forex market. It will find the most recent trends and present them to you in a streamlined manner.
So, what are the best trends? Those where the price has fallen/risen contrary to expectations. Consequently, these offer a great opportunity, and Forex Trendy will alert you when they appear.
Moreover, you don’t need to stay glued to the screen at all times. It is annoying and stressful to log in every 30 minutes and on weekends to check what’s going on. You can set alerts to let you know when opportunities arise.
Moreover, you have a lot of settings for these alerts. You can set alerts for any of the 30+ Forex pairs we mentioned above. Furthermore, you can select the time frame, charts, and bars. You also have some more detailed options. Just make sure you check them all on the Forex Trendy members’ area.
How To Spot the Best Trends
So, after you put all the alerts settings into place, return to the area with trends and patterns.
Thanks to the beautiful user interface, you will immediately see what is trending and what is not. Moreover, Forex Trendy will also help you see patterns and how they’re forming. This way, you’ll know what to keep your eye on.
Forex Trendy also provides predictions for 30 to 60 days. The software uses a complex algorithm to check all possibilities based on the charts listed. As a trader, it is your job to utilize these opportunities and make a lot of money in stocks.
The pattern-finding feature will allow you to land high-profitability rates. You don’t need to find a pattern yourself by flicking through the 300+ charts. The software will do it for you.
If you are a beginner, going from “Can you make a lot of money in real estate?” to “Can you make a lot of money in stocks?” then Forex Trendy is the tool for you.
Unlike real estate, in Forex trading, you don’t need a lot of money to get started. You need knowledge. Well, Forex Trendy provides that. It is a sophisticated tool for experienced traders and an educational instrument for beginners.
How to Read the Patterns
Forex Trendy will draw some patterns for you, showing you all the critical highs and lows for a pair. Moreover, it will show the highest probability of a triangle, i.e. a possible break in volatility.
The tool is pretty helpful and educational in many respects. Nevertheless, as a beginner, you might have a hard time learning what these triangles, flags, and wedges are. So, it takes a little bit of a learning curve.
If you’re not familiar with patterns and want to start Forex Trading, then you might have a problem. Trading is not that intuitive. You have to train your mind to think in patterns first.
Nevertheless, once you purchase the service, you will also unlock a 30-page eBook. Read it thoroughly to grasp the meaning of all those automated chart analyses.
How much Doest it Cost?
To work with the Forex Trendy software, you need a deposit of at least $250. Moreover, you need to pay $37/quarter to access the service.
Once inside, you will have to choose your preferred trading model. You set some targets and time frames. According to these, you’ll be able to withdraw your proceeds.
As a sign of trust, you have a money-back guarantee. So, if you’re not pleased with the product, you can get a refund in 60-days time.
Your next question would now be – but is it worth it?
Well, like any software and service, Forex Trendy has its pros and cons. Let’s lay them all down below and have a look.
Main Pros and Cons of Forex Trendy
- The software integrates with the most popular Forex trading platforms
- It has a low price
- Suitable for both experienced and new forex traders looking to make a lot of money in stocks
- 60-day money-back guarantee
- Excellent monitoring and pattern-formation algorithm
- Poor Customer Support
- You need to install the software, and you also need a solid internet connection to load all the graphs
How to Make a lot of Money with Cryptocurrency
Yeah, so another way to make a lot of money in stocks is to invest in a different kind of currency – crypto.
This is a relatively new world with a bunch of red flags. The principal peril is crystal clear – volatility. The crypto assets are highly volatile. Furthermore, the whole crypto market is quite unpredictable. We’ve all seen how a tweet from Elon Musk can crash Bitcoin.
Nevertheless, there is also great potential in the crypto market. Just tread carefully and follow these 5 steps on how to make a lot of money with bitcoin.
Invest in Crypto
We recommend you start small. Buy and hold on to your crypto assets for a while. Do not overreact to every little wrinkle in the price range. As we were saying, cryptocurrencies are highly volatile. Nevertheless, in the long-term, they prove steady growth patterns.
Start investing in the most steady cryptocurrencies. Bitcoin and Ethereum have proved their resilience so far.
So, tread and trade carefully. Do not go out and sell or buy on a whim. This is precisely what the market wants you to do.
If you want to engage in short-term trading, you need proper analytical and technical skills. Moreover, you’ll need to keep an eye on all the cryptocurrency trading sites, the Kraken exchange, etc. There are a lot of things to follow.
The short-term crypto market is very active and ruthless. There are many adventurers with one or two cryptocurrency trading apps on their phones, buying and selling for fun. Ok, you can start by doing that at first. But that’s not how you make lots of money.
Ok, so staking is a new standard for cryptocurrency transactions. It’s still not fully functional. Nevertheless, specialists say that in the future, it will replace blockchain mining. Apparently, the crypto market has become so big that it contributes to global warming.
Crypto mining needs a lot of computing power. Consequently, computing power requires a lot of electricity. And yes, the production of electricity is not as green as we’d want.
So, as a consequence, cryptocurrencies are looking at this new method of validating crypto transactions. It’s like mining, not with graphic cards, but directly with money.
The proof of stake method means that you can lock a certain amount of coins in a cryptocurrency wallet. The system will use your coins to validate a transaction, and as a result, you will receive a reward in coins.
Basically, you are lending the network your own coins to support it in securing and verifying transactions. In the same way, miners are lending their computing power to the network to record and validate the transactions on the blockchain.
NFTs are also hot at the moment. An NFT can basically be anything. It can be a piece of art, a meme, a digital image, a song, anything. NFTs are digital collectibles, and the blockchain guarantees their uniqueness.
They are expected to change the art, entertainment, or sports world because they introduce a new model for ownership and copyright. Basically, you can authenticate everything with NFTs. It is crazy. For example, the original photo of the disaster girl meme has been traded as NFT. Someone has the original photo and proof of ownership for that.
It’s true, you can copy-paste the image from the Internet, but you don’t have a digital certificate showing that it’s yours. We say you should keep an eye on NFTs, for they are big.
Mining is still a crucial part of the crypto world. The proof of work mechanism is still the standard on the blockchain.
So, you’ve still got time to buy some graphic cards and chipsets and feed some computing power into the network. Of course, you’ll be rewarded for that.
Making a lot of money on stocks is not an easy endeavor. Whether you want to start day trading, Forex or cryptocurrency, there’s a pretty steep learning curve. Systems and tools like Forex Trendy can make that journey a bit smoother for you. Nevertheless, if you’re not accustomed to this industry at all, we recommend you study it thoroughly. Trading is glamorous, but not easy.