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day trading

Day trading, make some money beside your full time job

Start trading now to receive a 20 pounds welcome bonus!

Maybe you have done or are doing this yourself. Trading under work time and after work . But I have certainly done this before when I was in my second year of trading back then. In this article you will get to know how I made money when I still had a full time job.

From a day trading to become a long term investor

I started trading on the markets about 5 years ago. After months of practising on the demo account, I finally made my first move on the options of TomTom. I failed badly on my first trade. But learned a lot of lessons from that first trade. Some of these lessons I described it in the blog named : Demo trading account are dangerous.

After my first trade I decided that I wanted generated enough income with trading that would cover my monthly living expenses. Although I failed at my first trade but there a time window of 20 minutes where I making a profit of 60% on my investment. At the beginning of my trading career I wanted to become like Warren Buffet and George Soros but I had no large funds to become a long term investor or to become a full time trader. So I had to become a great short term trader in day trading.

Day trading during job time

While I was improving my trading strategy  and developing my investment plan for short term and long term. I was faced by another challenge. And that time was time managing. Sometimes good opportunities comes when you are at work or at moments that you are really busy. At first I tried to trade all opportunities. Some were good and a few turned out to be a pain in the ass. I got myself a few times in a situation where I was already in a trade but could not exit a trade because some unexpected stuff happens at the office that required my attention immediately and just like that my profits turned into a loss. To avoid this problem I made a rule for myself in my trading plan.Exit the trade immediately when work is calling.”

So from that day on whether my colleague or my boss was calling me, I just exit my day trading. And when I was done talking with my manager or colleague, I just either re-enter the same trade or enter a new trade.

Day trading after/before work

day trading

day trading

With so many markets on the world. You can basically trade 24 hours a day if you want too. Forex market for example is 24/5. And if you don’t like forex then you can trade in many other markets. For example if you are from the UK you can trade in FTSE during the day , the Dow Jones in the noon and at night you can trade in Asian markets. With Plus500 I was being able to trade 24/5. Because I had access to all the markets. That’s the beauty of online brokers like Plus500. It gives you the ability to trade any time and any where you want. With brokers like Plus500 or Markets.com I was able to become good at day trading. And now I even trade and make money when I am on vacation or travelling. Pretty cool huh?

 

 

A few preparation tips for a good day trading

  1. Make sure you got a trading plan. If you don’t know on how to set up a trading plan then click here: Trading plan
  2. Check out the economic data calender so that you know at which time there is a possible news influence that could create a movement on the markets
  3. Before you enter a trade fill in your trading journal

That’s all for now. If you want to know on how to trade like a pro then click here: //bit.ly/1Pd8WuA

If you don’t have a trading account , then click on one the banners below and receive a nice welcome bonus.
Plus500
Plus500

 

Step 3: Trading plan

Online Trading: How to make a good profit with just 160 Euro

Start trading now to receive a 20 pounds welcome bonus!

Starting with online trading is much easier than you think. In this article we will explain to you how we trade and how we made a profit of 422 euro with only a small deposit of 160 euro.

 

Why online trading?

Trading used to be only for banks and big companies. Now, with the internet, it is possible for anyone with an internet connection to trade. This means you can not only trade from home, but from wherever you are and whenever you want. Besides this awesome fact, you can also trade with leverage. Leverage? Yes, with a leverage of 1:20 you can trade in stocks (CFD’s) 20 times more worth than your deposit. The advantage of this is that you can receive a very high profit with a small deposit.

For example:

Let’s say you have 100 pound and the leverage is 1:20, with only 100 pound you can open a position worth of 2.000 pound (100 * 20).

You can see with only a small deposit, you can make a big profit. This is perfect, because even if you don’t have a lot of money, you can make good money with online trading.

 

So how can you start online trading?

First of all, sign up to an online broker. Compare the best online brokers here and receive a 20 pound bonus to practice with. There are no obligations when you sign up, so go ahead and try it out. Find out how to receive more bonus here.

In our previous blog “Smart online trading in stock CTRIP: 1019 profit”, we have explained one of our trading strategies:

Guide-to-profit

  1. Find a reason to trade
  2. Open and close a position
  3. Evaluate your trade

Now how can you start doing exactly this? What sources do you use? This article explains just that. We will also use a real example of one of our own trades. Now you can follow these quick steps to begin to trade right away. The steps below follow the strategy that we learned before, but this time we put it in action! You can even use these steps below as a checklist for your own trading.

 

Step 1. Choosing the stock

First of all find a good earnings announcement calendar like the one from Yahoo:

  • Review which stocks have an earnings report coming out today.
  • Pay attention and only choose the ones that are available in your online broker stocklist.
  • Only choose stocks that have a time supplied. Write this down.
  • Find out what the leverage is, the higher, the better.
  • Find out about the company.

A real example:

On the 10th of June, 2015 we looked at the earnings calendar and we found Box Inc (NYSE: BOX). First thing we did was:

  • Find out if this stock was on Plus500, it is. Now let’s check the leverage: 1:20. Great!
  • The time of release is after market close. Love it! We tend to like these stocks more, because during after- and pre-market, you usually can predict what direction the stock is going. So at market open, we would be more prepared.
  • Now a little Google search helped us learn about this company, it is a technology company much like Dropbox. They use the cloud to give people the chance to back up or share their files online, so it can be accessed anywhere. This sounds good! Let’s move on.

 

Step 2. Should I open a long or short position?

After learning about the company, follow this checklist:

  • Find out whether the announcement will be good or bad. It doesn’t matter which direction it goes, because either way, you can profit. You should already know that the movement of a stock is almost always volatile whenever an earnings announcement gets released. To be sure, you could check the volume of the stock on Yahoo Finance, for example here.
  • StockTwits: one way to find out whether the earnings announcement will be good or bad is by reading what other people say about this stock. We tend to read StockTwits for this. For BOX the link is: //stocktwits.com/symbol/BOX.
    You can insert your own stock in the search field and then view what other people think about this stock. You can even see whether or not they think it is going up (bullish) or down (bearish). If you see a lot of bullish, it most likely will be bullish.

As for BOX, we could see it go up, not only because of what we read online, but also looking at the past quarterly earnings numbers. Where do we find these numbers? At the website of the company itself. All companies where you can invest in has an investors page. BOX’s investors page can be found at: //www.boxinvestorrelations.com/. Also, Google is your king.

 

Step 3. Open the position at the right timing

All this together has decided it for us. We think BOX will go up. Next we did the following:

  • Open a position not too early: we opened a buy position on BOX just before the news came out. As noted before, this is just before market close. Don’t open the position too early, because the normal daily volatility could give you a disadvantage.
  • Money deposit: also, we only deposit money that we want to use: 160 euro. Not more and not less, because this will help us not lose more than we want to. This is important! Only use money that you can afford to lose.

Now we wait.

 

Step 4. Closing the position

News is out! The market is still closed though. All we can do is check the stock price (the aftermarket/premarket one) constantly, you can use the NASDAQ after hours website for this. Yahoo Finance also provides this information. It is in the small font just under the open market price.

So what now? Be sure to be ready when the news comes out, the stock will now go up or down very fast. Our stock BOX moved up, we could already see the numbers in the aftermarket. The next day just before market open, check the numbers again. You will see at what price the stock will open. At this point we already knew that we had a win. The next thing to do is preparing ourselves to close the position as soon as possible. At market open, at the first possible opportunity we closed the position, grabbing our profit of 422 euro. Amazing!

plus500-result-box

Remember this: don’t ever be greedy. Unless you know how to use a stop loss, you can wait before closing the position. More about stop loss strategies will come later.

 

Step 5. Withdraw your money unless you want to use it for a future trade again

Don’t let your money sit on your account. Withdraw it, use it, enjoy it! Online Trading isn’t all work, it should be fun too.

Now don’t forget to evaluate your online trading today, you can always learn from it for future trades.

Got questions? Feel free to ask them below.

 

forex day trading

Forex day trading with currencies in 24 hours

 

In this article we are going are going to inform you on how you can trade for money in a short period of time. After reading this article you will know what Forex Day Trading is all about. Don’t worry even if you have never trade before, this article will help you to understand what forex day trading is. Once you know what it is, you can trade by applying some of our techniques that’s been written in this article.

How does Forex Day Trading work?

Forex day trading is one way of performing foreign exchange trading within a time frame of 24 hours. You can open and close as many positions as you want in a day.  Sometimes its better to hold a position over night.When this happens, your deal will be automatically renewed at 22:00 GMT each night until the deal closes. There is something that you should know upon the renewal you will be charged a fee for rolling the deal for an extra 24 hours. This fee will be collected once a day when the deal is renewed. The fee will be collected from your Free Balance. And if by chance you don’t have a sufficient free balance then your credit card will be debited. If you don’t have a creditcard , then next time you have a free balance and execute a withdrawal from your account, the amount owed due to non-payments of the rolling fee will be deducted from the amount you have withdrawn.

Now back to answer the question on how to trade for money with forexBefore you open a position to trade, you will need to have a trading plan first.

Our strategy

If you want to know of how we set up a trading plan, then you can read it here: Trading plan

What we do when we have  a forex day trading is as follow :

  1. Determine the market condition (trend) of each currency pair. If you want to know of how determine a market condition then you can read it here : Determine Market condition with technical analysis
  2. Then make a trading plan
  3. We then look at the economic calendar to see which data release can have an impact on the forex day trading currencies. We usually look at the economic calendar of investing.com
  4.  After we found an interesting currency pair to trade in , we then use the one minute chart and hourly chart to see for which price point should we buy in the market. To determine the price point we have to indentify  the market cycles or the support and resistance lines in one minute chart and hourly chart.

All of these steps together takes only around 20-25 minutes to do it. The more often you do it the lesser time you will need to do these four steps.

Yes, it is possible to trade with 100 euro and be good at it

[member]We at www.101trading.co.uk trade in Forex with CFDs. The reason for it is that you can make more money as you have a high leverage ration. At Plus500 and Markets the leverage ratio is 1:200. What that basically means is that for every 100 euro that you are investing you are basically investing 20.000 euro. The forex market is a big market therefore if you want to trade in currencies you would need a lot of capital for a small gain, with CFDs you don’t have to and profits are higher because the leverage advantage. If you want to know what the forex market is then you can read it here : Forex market

The other day i didn’t have much time but i wanted to show a friend of mine that can you make money in forex day trading within a time frame of ten minutes with 100 euro. See the picture below for the result of that trade.

Forex day trading profit in small time window

Make money with 100 euro in forex day trading

 

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