In March of this year I was looking at the markets, reviewing the price charts to see if there was anything worth trading. In this particular instance it was the foreign exchange (forex) market I was scanning and I did come across an interesting development.
You see, the Euro was setting up to making what looked to be a big break higher against the Dollar. Based on my analysis, which took all of about two minutes, I saw a pattern forming which told me to prepare for an uptrend. Now I don't want to imply that in two minutes I found a great trade. It probably took me 30 minutes to go through all the charts that day. Oh, and since I actually wrote up the analysis of the trading strategy for my report subscribers, you can add on maybe another 30 minutes. That makes an hour.
The strategy I devised that day had me buying the Euro against the Dollar at about $1.21 (meaning each Euro was worth $1.21). That was mid-March. About two months later I exited the position at around $1.28. If you are familiar with forex trading, you will know that's a nice profit. If you don't have forex experience, let me explain.
Let's say that I bought 100,000 Euros against the Dollar. That's a position size of about $121,000. Because forex is a leverage market, I would only need a margin deposit of maybe $2500 to put on that trade ? potentially less. At the time I exited the trade, the 100,000 Euros had increased in value to approximately $128,000. That's a gain of $7000, which is not a bad return at all on the initial $2500 deposit.
Now let's say I checked on the trade once per day during the time I held it. That's about eight weeks, which is forty trading days. If I spent five minutes each day looking at that trade - which is probably quite a generous figure ? then I accumulated 200 minutes of trade monitoring time. Add that to the sixty minutes I used identifying the trade and creating a strategy and you have 260 minutes. Rounding that up, we'll call it 4 1/2 hours.
So if I had put on a 100,000 Euro position I would have spent 4 1/2 hours to make $7000 - more than $1500 per hour. That's one heck of a part-time job!
This story isn't about telling you how great a trader I am. Rather, the point is that I was able to make those kinds of profits in the market without having to spend hour upon hour in front of the computer screen watching the charts and trying to interpret news events. This is something you can do as well.
Let's face it. There are a heck of a lot more people who trade part-time than full-time. The day traders, though, account for more of the noise and they have a great many people convinced that one has to be dedicated heart and soul to the markets to make good returns. That just simply isn't true.
Part-time traders are at least as capable of doing well in the markets and making a positive contribution to their financial well-being as those who spend long days focused on the market. It is just a question of managing their time well and finding an approach which suits their situation.
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For most people, achieving success in Home Based Business means a lot more than just earning more money. It also means more time freedom, more relationship freedom and a better lifestyle. It means paying off the bills, getting out of debt and having more peace of mind. It also means having money flow into your bank account every single month, whether you work or not.
So, in order to achieve great success working from home, you must first understand the difference between, Leveraged Income, Linear Income & Passive Residual Income. Let's take a look:
Income Type #1 or Leveraged Income, is a little better than Linear Income, but still not that great, because your income is based on the efforts of those who earn linear income. This is where you can get paid from the work of others, like being a small business owner or a manager, however, leveraged income does not offer real security, because linear income employees, can quit, find a higher paying job or start their own competing business.
Income Type #2 or Linear Income, is income generated by working at a job. When you work, you get paid. When you do not work, you do not get paid. This is how most people live their lives and why those who only work for Linear Income, can never stop working.
Income Type #3 or Passive Residual Income is the income that allows ordinary people to achieve extraordinary success in a Home Based Business, because every distributor has the same exact opportunity to gain. This means that anyone, regardless of where they live, how old they are, or what their experience is, can earn as much or as little as they like, based on their own commitment and effort.
Think about it.
Corporate icons are toppling daily, massive job terminations and pension defaults are commonplace and globalism is in full swing. There has truly never been a better time to be self-employed or a worse time to be faithfully employed.
Airlines are experiencing turbulence financially. GM & Ford are moving toward bankruptcy and jobs are targeted for rightsizing, downsizing, and outsourcing.
If you take a new job today, in four years the statistics say that you'll be jobless again. So much for job security in the 21st Century!
Indeed there has been a sea of change, and the Silent Revolution, whereby a new Home Based Business is started every 11 seconds, in the U.S. alone, is in full swing.
Success for a work at home business will be realized when you have the work at home business up and running while analyzing for things that actually don't work and should be removed. This move will refine the workload according to things that matter. You can also opt to divert answering customer emails that you may receive to outsourcing firms who will handle it for you. Eventually, you can move on to another project or travel the world for that matter because of the success of your work at home business.
Both John Forman & Ram.sharma are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
John Forman has sinced written about articles on various topics from Currency Trading, Finances and Forex Trading Forex. John Forman is a near 20-year veteran of analyzing and trading the markets. He is author of the Amazon.com Top Selling book , and the. John Forman's top article generates over 12100 views. to your Favourites.
Ram.sharma has sinced written about articles on various topics from Blogging, Advertising Guide and Article Writing. About the Author:-Please browse for more information at our websites.. Ram.sharma's top article generates over 22200 views. to your Favourites.
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