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Category: Buying

Make Real Money Online – The Real Rules of the Game

When I first got involve with trying to make real money online, I was actually in the process of recovering from some real estate investments gone bad. We all know what the real estate market has done in this economy and I was obviously not immune to its effects. I was frustrated, in massive debt, and desperately searching for a way to recover my income stream. I will tell you, the situation I was in made it that much more challenging for me to make real money online, but I was determined to do it anyway. Learn from my mistakes and you can make real money online a lot faster.

You see, making real money online is not much different than making real money in any other type of business. It takes proper planning, networking, laying a good foundation, dedication, perseverance, leverage, money, time and a lot of action. If you miss a step because you need to make real money fast, like I did, you stand a good chance of losing more money than you make.

I want you to keep something in mind. To make real money online, you will be required to do some form of marketing. The internet is really just an electronic buffet offering a wide variety of products, information, opportunities and services. Everyone is marketing something in some way or another. Some people offer stuff for free, others charge. To make real money online, you will need to some of both, and the balance of free and not free is important. In any case, you will have to learn the art of transferring your thoughts, ideas and opinions to the minds of others. You will also have to learn how to identify problems and offer solutions. Don’t let the marketing part scare you, we all have marketing skills in us. It just takes a little coaching and practice.

Over the next few articles, I am going to cover some key points that will help you make real money online. I would love to do this in one sitting but that may be an injustice to you and certainly to me. Please, take time to digest what I am saying in each article. If you have questions along the way, catch up with me on my blog and I will do my best to help you.

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How to Use Virtual Money to Earn Real Money!

I wanted financial freedom, and I was determined to acquire it. I decided I was going to do it trading stocks or currencies. The problem was that after one year in the hospital, and a lot of medical expenses, I didn’t have the initial capital needed for my venture.

I made some research and found out that many brokers let people open free demo accounts to help them learn how to trade, and also to help them gain a general sense of how the markets behave. I also found that these financial institutions organized regular contests for the people who traded on those demo accounts.

The prizes for winning one of those competitions ranged from real money accounts, to cash prizes, tablets and smart phones. So, the only thing I needed to do was to win one of them, and obtain the funds I needed to start trading for real.

I know what you are thinking, easily said than done! Well, it’s easier than most people believe.

You see, most people treat their demo accounts as real accounts. After all they are trying to learn how to make money in real life. On the other hand, I saw these accounts as a game, a contest I needed to win.

On a real account you have to think long-term, you diversify and you minimize risks. On a demo account you need to make as much money as possible, on the shortest amount of time. So, you concentrate your resources, and take the risks you are not supposed to take with real money.

The game plan…

There is a concept in the stock, and currency market, called a gap. It’s a pattern that is formed when the open price is higher, or lower, than the close price of the previous session. As a general rule, these gaps tend to be filled. In other words, the price moves back to the original pre-gap level.

If, for example, you are trading a demo Forex account the only thing you need to do is wait for the markets to open on Sunday, and watch for a gap in the opening price of one of the major pairs. As soon as you find an opportunity you open all the lots that you can in the opposite direction of the gap.

Depending on the size of the gap, and the spread of the pair you are trading, you will be able to make a profit of 50%, 100% or higher. Repeat this strategy as long as the contest lasts and you will be one of those guys in the prize list.

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