A genuine way to a second income, if you stick with this rule
Today’s Adventure in the Biz Opp Jungle:
‘In which Charlie revisits the subject of fish, reveals a genuine way to make a second income from home, but splashes a dollop of REALITY on the DREAM sandwich, and sets a few rules.’
Hi
Don’t know if you saw Wednesday’s issue of the Biz Opp Jungle...?
I was gabbing on about fish.
Oh, and the Net Trap System... which is a fisherman’s idiosyncratic approach to home trading.
What? Why? How?
Well, it’s barmy, I know. But if you read Wednesday’s email you’ll know it’s not totally insane. It’s about casting your net (setting up a trade) at 6:30am, then seeing what you’ve caught at 8:30am...
Once you’ve done that, you go about your daily business. Which may, or may not, be related to fish.
The reason I mention this again today on this, Sunday, The LORD’S DAY, is to clear up a bit of confusion about the offer...
I realise that many Net Trap members paid for the service in ONE instalment when this was first launched... but just to confirm there IS definitely a part payment offer on right now. It wasn’t a mistake on my part.
This is a final incentive to get people to join before they are likely to close doors to new students.
The idea is you pay them half now... then bung them the other half in 30 days. By that time, hopefully you’ll have picked up profits to cover the cost (see more on this subject below).
This means you don’t have to invest such a large chunk upfront. And even when you pay in these two instalments you still get the same 60 day trial.
If you’re STILL confused, the details are all here (PRODUCT CLOSED TO NEW MEMBERS )– you’ll see the special part payment offer near the end in the Q & A section.
Is this a genuine way to earn extra money?
After Wednesday’s email I was offered a pair of interesting questions by a Biz Opp Jungler.
He wondered if a newbie to home trading could immediately pick up the sort of income at the beginning to cover the price you pay for a system.
This can vary wildly, of course, as some higher level systems cost a couple of grand. But in Net Trap’s case you’d need to make about £250 profit in the first 60 days (the length of the money back trial.)
The second point he made was: “Is this a long term skill that you have to develop and learn?” A good question which I’ll get onto in a moment....
First, let me discuss how and if trading covers your costs if you’re a newbie...
The idea of systems like Net Trap, Ten Minute Trader, Tenkei and other products I’ve talked about recently is that they accelerate you into home trading. They’re designed to be stripped-down, clear, uncomplicated, and a first stop for beginners who want to try their hand.
The systems are designed so that you follow a strict set of criteria, which means you’re not making wild punts based on previous experience, hunches or guesswork.
Also, by spread betting or using fixed odds, a beginner can easily get started right away without having to own or trade the underlying security (ie the currency, the stock or commodity).
This is why trading is one of the quickest and easiest ways anybody can start making money from home. Compared to setting up a home business, it’s super-fast. And you can make money pretty much as soon as you open a spread betting account. (Saying that, my advice is to paper trade, or exploit the various ‘virtual accounts’ on offer until you get the hang of it.)
You can easily pick up a couple of hundred pounds profit in your first month of trading with proper money, even if you’ve never previously heard of the S&P, Forex, Moving Averages or Candlesticks.
Most of the enthusiastic feedback I get from Junglers is during these first few months where their first ever profitable trades roll in.
Then we come to my reader’s second point...
But isn’t trading something where you develop and improve over time?
On this, he’s absolutely right. Home trading is something you need to continue working at if you want to make consistent long term gains.
Why?
Because while many beginners make money for a couple of months, many soon start LOSING money...
You only have to go on the Biz Opp Jungle forum to see the impassioned and intelligent debate raging between various home traders. Sometimes two people using the SAME SYSTEM come up with different profits. You can even get one who’s lost money, and another who’s made money.
Why?
Well, this is where I splodge a big dollop of Reality onto the Dream Sandwich you were about to eat....
Having a good trading method is important. Absolutely, and it’s an essential ingredient, which is why I recommend trading systems.
But equally you have to develop the right psychology. And here’s where some experience, trial and error come into play.
Most traders lose because they fail to control the emotions of Hope and Fear. Hope gives birth to the problem of clinging onto a trade that’s failing, betting more than you can afford to lose, acting recklessly in the face of clear signals.
On the other hand, fear causes hesitation, the inability to follow a system through properly, and flip-flopping your decisions.
This is why a bit of experience and persistence eventually pays off. And this is why many traders try more than one system, combining elements and matching them to their own personality traits.
Some useful tips...
The most successful home traders I know (and yes, they do exist – and I’m not talking about the few trader mates I have in the City) have the following habits, which are worth noting:
o A series of bad trades doesn’t get them down. They learn from what’s happened and record it so they don’t make the same mistakes. (A few people I know keep trading logs, which is an excellent idea).
o A series of good trades doesn’t make them greedy. They keep the risk-reward low. And they keep enough money back to cover another bad run.
o They don’t stick to one basic system forever and blame it entirely if everything goes wrong. They build on it by using their own tweaks and twists, chucking out elements that don’t work for them, adding things that do.
o They get really into their trading and ENJOY it. I’ve always said that if you don’t enjoy trading, then don’t keep chasing that particular dream. There are other avenues available.
o They passionately believe in the power of home trading to make money – but they don’t fall for the big 6-figure promises or miracle systems. Rather than shouting “Where’s my Porsche then?” they accept trading as a way of methodically adding to your monthly income. While they’re not hitting jackpots or giving up the 9-5 just yet, they love that extra cash coming in.
One home trader says this, which is a good way of looking at it....
“Trading is a rite of passage and is not an easy way to quick riches - the road will be long and the terrain tough... Trading is not glamorous! Be prepared to spend a year reading, learning and practicing.”
And the rewards for sticking at it?
Well, it’s a genuine opportunity to make a consistent second income from home. And in these economic times, that one benefit could be a life-saver for many of us.
‘Nuff said.
Anyway if Net Trap sounds good to you, then you can check it out here (PRODUCT CLOSED TO NEW MEMBERS)
Or have a browse on my website for a load more home trading opportunities here
Later alligator
Charlie Wright
The Biz Opp Jungle