Trading – Is it For You?

Financial trading has been around for years, and is done on a worldwide platform. Many films, including The Wolf of Wall Street, The Big Short, and Margin Call, will give you a rough (if not slightly inflated) view of roughly how they go down. Lots of shouting, lots of phone calls, lots of swearing… It definitely can’t be described as a boring day at the office!

Many people have made life long careers out of trading, after training for years. Most people will need a degree – at least if you want to work for a reputable company. They are proud to be looking the part in their sharp suits and polished shoes. But in recent years, the tables have turned slightly. Everyday people, you and I; anyone with access to a smartphone – are earning money through trading.

What is Trading?

In a nutshell, trading means the buying and selling of products or services, with the buyer compensating the seller in exchange for said products or services.

Financial trading works on the same concept. It is the act of buying, selling or exchanging financial assets; such as stocks and shares, which is usually carried out by a trader. Throughout the years the majority of trading takes place at an exchange, such as the London Stock Exchange and Wall Street. Successful trading can be very elusive, but with great reward comes great risk. Put simply, the more money you risk, the more you stand to earn. But: It is a big risk. As with all financial dealings, you do stand to risk all your capital in less than a moments notice. 

Can I Become a Trader?

Thanks to modern technology, there are now plenty of ‘How To’ guides, videos and apps, ready to show the world just how simple trading is, and how anyone can get on board. Trading 212 is one such app. There are countless YouTube videos, Facebook forums, pages and groups. There are also websites and apps dedicated to training you on how to successfully earn your money through trading. Trading 212 is one such site, which trades in Stocks, Forex, Crypto and Gold.

There are many differences between Stocks, Forex, Crypto and Gold trading, including time frames; some are based on an 8 hour day where as others run 24 hours. They also vary in what they trade, and how it takes place.

Is it a Good Source of Income?

When done well, it has the potential to make you a lot of money, but it also has the potential to lose you a lot of money. As with all forms of trading, it is best to do research, start small and use all the resources you can; many sites have an option to practise play first, where no money exchanges, so you can get a feel for it, and decide whether it is really for you.

As with all things financial, there are no guarantees either way – but if you have a small start up pot, and do your research properly – it could be a great way to bring in some extra money on the side. Have you been successful in trading? Drop us a message below to tell us of your experiences or check out how to save money every month!