Today’s Adventure in the Biz Opp Jungle:
‘In which Charlie’s friend makes $2m in a day…
while drunk… and he finds a way to trade the Forex without
needing thousands of pounds’.
Hi,
My friend Matt is a trader in the City.
The other evening, while I was having a pint with him, he casually mentioned that he’d made his firm $2m that day.
I nearly spat out my beer.
Two million squid. Not bad, considering he’d woken with a hangover, gone to a boozy business lunch, and spent the afternoon drunk.
Some people have the knack, I suppose.
Despite being paid handsomely for making his bosses millions, he doesn’t flash his cash around or pay for all the drinks.
He has this theory that he and his friends should socialise a level financial playing field, as if salaries and incomes didn’t exist. Otherwise the fabric of his old friendships would break down. He’d end up with a social circle consisting only of bankers and traders.
Fair enough.
But imagine getting too rich for your friends. That would be weird, wouldn’t it?
I don’t know about you, but I think I could handle it.
But is there a way we can take
a slice of Matt’s pie?
Unless you’re a young buck heading into the City to make your fortune, it’s not very likely that you’ll ever get to the stage that Matt’s at.
Mind you, who wants to be hungover and responsible for betting with millions of dollars of someone else’s money?
Not me.
But when I asked him what he thought was a good way for ordinary people to trade in their spare time, he suggested ‘mini’ Forex accounts.
Just to explain...
The currency market is known as the 'Foreign Exchange' market or 'Forex' market. Over 2trillion dollars change hands in this market every day, with 12 million people trading currencies worldwide. It’s open 24 hours a day so you can trade any time.
(Oh, yes, ALL the facts at my fingertips! You can tell I’ve been on Google again, can’t you?)
Similarly to spread trading, with Forex Trading you can control a large amount of money with a small deposit, which can hugely increase your gains.
Of course, this can also increase your losses. So be the perils of trading! It’s about risk, as well as reward.
The basic premise is simple. You can choose to go ‘long’ or ‘short’.
For instance, if you think the US Dollar will go up against the Japanese Yen, you buy dollars and sell yen. If you think it’s the other way round, you buy yen and ditch the dollar.
There’s much more to it, but I’m beginning to sound like an Open University lecturer here.
(“GET TO THE POINT, CHARLIE, YOU RAMBLING FOOL!”)
Yes… so…. the point…
You can trade small with ‘Mini’ Forex accounts
Currency trading used to be out of bounds for ordinary people. You needed lots of spare cash as start up.
But now many online Forex Firms offer 'mini' trading accounts with a minimum account deposit of only $200-$500. And there’s no commission trading either.
This means you could easily go into this market, in your spare time, as an individual with just £150 spare capital. Although you probably need more.
If you’re interested, I did a hunt around and found this huge Yahoo directory that includes loads of Forex firms and currency exchange websites: Just click here
I’ve also had a look into Forex Products that teach you the basics of currency trading, without you having to fork out loads of cash.
And this is the best one for the price you can get right now…
The world according to Sadak
Amin Sadak’s manual, ‘The Affluent Desktop Currency Trader’ teaches you the basics of currency trading, as well as various buy and sell signals.
He claims you can earn £300-£600 every week in your spare time directly from your computer.
Personally, I wouldn’t focus on this element. With these manuals you’re learning the ropes from a master. You’re not following him in and out of every trade he makes.
Those kinds of products cost thousands of pounds a year.
The truth is, a good trader with experience and skills will make a lot more than a lesser trader, even though they know the same buy and sell signals.
Everyone’s experience is different. It depends on so many factors.
The most important thing about trading manuals like Sadak’s is whether they teach you skills you can use to make money.
In this case, the book is comprehensive and very well written. You also get a few bonues:
*** The Forex Resource CD, which provides further resources and information including a set of currency trading books written by various Forex authors.
*** Software and trading platforms on CD.
*** The opportunity to contact Amin via email and ask questions.
And that’s all for under £60
The reason I recommend this, apart from the great value, is that I haven’t read a single bad comment about the quality of this manual.
Also, Sadak also offers a 30-day money back guarantee. I’ve been in contact with him, and made sure this is a no quibble deal.
Go here and check it out for yourself.
WARNING! Advice alert!
Make sure that you don’t go rushing into Forex Trading with wads of cash. Read Amin’s manual all the way through first and see if it’s your kind of thing.
You have 30 days, risk-free, which is plenty of time to absorb the information.
But resist the temptation to throw your savings at it. Make the trades on paper for a month, or until you see the kind of profits you’re looking for.
THEN go for it.
Trading expert, Sadak explains how to make your money a lot more clearly that me, so check out his website here
The funniest tradesman story ever told
I was going to end today’s e-letter by telling you the funniest true story I’ve heard in a long time.
If you think I have a bad time with shopkeepers, tradesmen, bank managers… this friend of my brother’s really takes the biscuit.
BUT….
I’ve got to write a promotional piece for my new book of e-letter publishing, so I’ll leave it til the weekend.
Until then, don’t forget to check out new daily material on www.bizoppjungle.com
Cheers,
Charlie Wright
The Biz Opp Jungle.