As the recession bites, more and more families are looking to supplement their incomes to compensate for frozen wages, reduced overtime and job losses for one or both income earners. The biggest question most people are looking for is how to earn extra money and what alternatives are there for earning serious money.
A sobering statistic from the recession of the early 1990s was that approximately 80% of the tens of thousands of home repossessions could have been avoided if the weekly income of the families concerned could have been increased by only £50!
One benefit of hard times is that people become more resourceful and innovative as they seek to supplement their income. A recent survey estimates that over three million Britons are now participating in on-line betting sites such as bingo, poker, horse racing and spread betting of sporting events and the financial markets.
Many people are participating in these sites for a little flutter and a lot of fun as a form of escape from the harsh realities of their “daily grind”, but some unfortunately are gambling in a naïve and desperate hope that they will be “lucky” and somehow win their way out of their financial plight.
However there are an astute few who are actually doing rather well out of their involvement, particularly in the area of spread betting the financial markets. There is an elite group who spread bet or trade the international Foreign Exchange Markets (FOREX), some part time from home, who are consistently earning money on a daily basis.
Trading these markets avoids much of the volatility and uncertainty of the stock markets and, because FOREX is a twenty four hour market, traders have the freedom and flexibility to trade from home at a time that suits them.
Trades can last from a few minutes to several hours, to days and even weeks but if you have a job to go to and a family to look after, short trades of between five minutes and an hour are considered to be more convenient.
Many Forex Traders earn between £50 – £200 per day from home which can make an enormous difference to family finances and, a bonus is that under current legislation, income generated from trading is tax free in the UK. So, that extra £200 you earn each week, you keep!
This is, however, a specialised area full of potential traps for the unwary and even though the Spread Betting companies offer excellent educational facilities, it is advisable to get specialist instruction and training from an expert as to which is the best forex training course available to earn extra money at home or as a fulltime trader.
A new trader must be prepared to learn new skills and disciplines and treat their trading with respect as both a business and an art with an attendant level of risk and money management, professionalism and discipline. To expect to be able to earn £20,000 – £40,000 per year part time from home or more than £100,000 full time, without expert training and serious commitment is totally unrealistic.
For the best Forex training courses available they can range from free introductory programs from the Spread Betting Companies to courses ranging from £1,000 to £10,000 for those who are serious about learning the necessary new skills to earn extra money from home.
If you search the internet for Forex Training Courses, you should look for three key factors when choosing a course and trainer:-
- Does the trainer actually have a proven record of trading the Forex markets successfully?
- Does the training include live real-time trading or is it just theory with no actual practice?
- And most importantly, is their ongoing support and mentoring available to students in the first 3-6 months as they learn the new strategies?
Finally check whether there is a money back guarantee if you decide that the training is not for you.
So if you really want to learn how to earn extra money from Forex trading in spite of the recession; perhaps to pay off your mortgage early, to continue to pay those school fees or just to have that dream holiday, make the commitment to learn the new skills required to trade the Forex markets and finally take control of your financial destiny!
For more information on one of the courses available go to Roxi Training Course . The next Forex training course will be on the 17th and 18th September 2009
Your thoughts, experiences and comments are welcome. You can join the discussion below and leave your thoughts and experiences.