The following post is from FMF contributor Veselina Dzhingarova.
When you have spare cash, it is understandable that you want to make it work harder. Some people put their savings into a high-interest account. Others buy property. But, what if you could use that money to make extra money – and have some fun at the same time?
For anyone with an appetite for risk and a desire to make money, investing is a great hobby. You may not end up as rich as Warren Buffet, but if you play your cards right and learn the essential tools of the trade, you could make a tidy profit on your investment account. The good news is that investment is really easy these days. You don’t need a hotline to an investment broker and you certainly don’t need to work on the trading floor of the London Stock Exchange.
Anyone can have a go at investing in stocks, shares, ETFs or foreign currencies. All you need is an internet connection and some time to learn the ropes.
Create an Online Trading Account
Online trading is so easy, anyone can try it. There are several reputable online trading platforms where anyone can set up a trading account. You don’t need any prior experience. You don’t even need to trade using real money. Decide what you want to trade, whether its forex, stocks, commodities, binary options, or CFDs, and look for a trading platform that offers this.
Start by creating a demo account. Practice, test your skill, try out a few theories, and see if you have what it takes to make money. Once you feel confident enough to risk using real money, start trading for real.
Watch Buzz Index
Buzz Index uses Artificial Intelligence to identify trends and patterns in the financial markets. All savvy investors watch the markets and use news bulletins and other pertinent information to figure out which way the markets are going to turn, but AI makes life a lot easier.
Market insights are derived from superior artificial intelligence and the data is filtered through complex algorithms to produce useful information for smart investors. These insights can help you make the right trading decisions and boost your investment portfolio. AI is the future, especially in the world’s financial markets.
Try Social Trading
Social trading is an exciting new development in the world of investment. Wouldn’t it be wonderful to have an experienced mentor guiding your decisions as you play the markets? Thanks to social trading networks like eToro, you can do exactly that.
Social trading allows less experienced investors to connect with more experienced traders. You can copy their trading portfolio, discuss trading strategies, and ask for advice. It doesn’t guarantee you instant success, but the odds you will make money are far higher than if you struck out alone. Experienced traders are happy to share their insights. After all, they were newbies too, once upon a time.
Only trade on regulated platforms and don’t risk money you can’t afford to lose.
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