One of the fastest ways of making money online

Posted by Felix Okoli on Monday February 4, 2013 at 8:23:15:

There are truly many ways of making money online in Kenya but I don' t think they make money as fast as trading currencies does.

You could try article writing but it takes time to write an article, submit it and get paid. It could be up to a week before you get paid. Another way to make money online could be by providing freelance jobs like web designing of graphic but does take a lot of time too.
What about blogging? Well, if you've got a blog monetized by ads like Google adsense, it takes a while to create a blog post, publish it and then earn some money from it.

I've been thinking about which of the various online money making methods offers the fastest income or rewards and for now, I think it is forex trading.

However, online forex trading does have some disadvantages unlike other more known online businesses:

- It is largely unpredictable
- You can also lose money even after making it
- It is highly risky
- It requires long time practice

One major problem most forex traders face is knowing where the market is going and another issue is that of maintaining leverage. Some newbie traders tend to overtrade their capital and hence lose a lot of money.

If you were an article writer, you earn money without having to lose it. You earn and keep what you earn. With currency trading, you can make $100 in an hour and lose it the next.

Online Forex trading is one of the fastest ways of making money online in Kenya and indeed the world because it is one of the few businesses one can do online and start earning money in minutes.

The forex market is available on a 24 hr basis on a daily basis, particularly Mondays to Fridays and you can make money from the get set.

I've made some good money from forex and I've also lost money on it.

Truth be told, it is one of the fastest ways to make money online but is is also the riskiest.

If you do want to trade forex safely, then one thing you need to do is plan before hand what your risk and reward per day is. If trading with say $100 capital, you can decide to limit your expected daily loss to $3 a day and for 30 days, the highest you could lose would be like $30 and you can also set you daily reward to like $4 or $5 and your monthly reward could be $120 to $150.

If you are new to trading forex, you can always get an account for free, download the trading platform and trade with some free funds in virtual trading for a while in order to know how the portal really works before doing the real cash trade.

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Re: One of the fastest ways of making money online Reply by Felix takona karbolo on Monday February 18, 2013 at 8:41:38:

Forex trading seems interesting, i would like to more about. keep up the good work.





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Re: One of the fastest ways of making money online Reply by gerald on Tuesday October 22, 2013 at 13:40:14:

can you recommend a good forex trading platform




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Re: One of the fastest ways of making money online Reply by Felix Okoli on Tuesday October 22, 2013 at 13:40:14:

You can try brokers like oanda, agea and liteforex


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