You might be able to make some extra money by trading as a side hustle. However, before you do this, you should make sure it's right for you.
Trading can be a profitable job, but it's important to understand that it's not a get-rich-quick scheme. In fact, more than 72% of retail traders lose money. To make any significant returns, you'll need to learn the skills of trading and have a lot of money to invest.
Some people find trading to be a fun and lucrative way to make money. It takes some effort, but if you're willing to put in the work, trading can be a rewarding experience. It's important to have discipline, patience, and the ability to handle risk and uncertainty, but if you can do that, the potential rewards can be great.
Trading as a side hustle can be done from anywhere with an internet connection, which is great because it can fit around your full-time job or other commitments. It's also a good way to get a passive income, which can be helpful if you don't have a regular income.
When trading stocks or other investments, it's important to take care and not put too much money in at once. It's also important to learn as much as you can before you make any investments and to start with small trades that you can afford to lose. And finally, always make sure to do your research before investing.
Trading can be a fun and flexible way to make some extra money, but it takes a lot of time and money to see real results. There's also a high risk of losing money, but if you're willing to put in the effort, it can be a good way to make some extra money.
There is a lot of human psychology that determents one's success in trading. Mastering your emotions like greed and panic is a must. You will see the difference when using a demo account and a real account.
How to overcome this problem? Make a strict trading strategy. You can use other people's strategies but I would not recommend it. Their strategies are made around their emotional tolerance and experience. It would be like trying to look good in other people's clothes.
You can learn trading strategies online. There is a lot of free and paid information out there. But all that information surplus makes it difficult to navigate. If you are new to trading you won't be able to decipher the information. Tickeron has its own academy and 1 on 1 lessons. That and a lot more. You can learn more effective strategies and technics for cheap.
If you can't learn to control your emotions you can always use Tickerons AI trading bots. Just pick an asset ( Stocks, crypto...) and scroll the bot's results. The results are displayed as annualized margins to make it easier to determine the right one for you.
To summarize, Trading requires a lot of money, time, and skill up front. If you don't have money to live comfortably don't start trading. Use other side hustles and exchange your time for money. Once you are financially stable use around 20% of your income to invest. 50% should go to stable options and the other 50% can go to more risky options.