It is pretty baffling in my interaction with many people how very little they actually think about how to make money. Many people simply do not give it a thought, which is why you have so many people playing the lottery.
Life and finances go hand in hand, and to make life sweeter, you need finances. Sure, there are those who say that you do not need money to be happy. I have been in a situation where I had little or no money, and I have been in situations where I had more money than I could wish for. Believe me, I would never go back to those days when I would literally search through all my trousers looking for a dime or two.
One of the ways to get some cool money is trading forex. The allure of forex trading is so high in some areas it is simply unbelievable. People want to make money from forex, but very few are prepared to pass through the rigors that this venture demands in terms of learning and training. They would therefore be prepared to allow someone else do the dirty work and deliver them the goods in a prepared form.
This is where opportunity beckons on those who have some knowledge of trading. Directly trading forex is not the only way to make money from this market. If you are a good trader or you have a business association with a good trader, it is possible to use social media to promote your forex money-making venture. Here is how it works.
LinekedIn and FaceBook: Two Powerful Social Media
Linkedin may not be your classical social media, but it has a powerful feature also found on other social media such as Facebook: the Linkedin groups. Linkedin is a powerful tool for business, and it is not a surprise that pages like the Trade 24 Linkedin page are in existence, showing how companies are also using Linkedin as a good forum for disseminating their products.
You can form a powerful Linkedin group and provide signals to members of this group for a small subscription fee. You may or may not be the one generating the signals. All you need is access to a good trader with a reasonable profitability percentage who will agree to work with you and you can both collaborate on this project.
Believe me, all people need to see are verifiable results. You will be shocked at the level to which clients would beat a path to your doorstep with cash in hand.
Facebook is equally a good place to run a social forex signals service. You can do this through the Facebook Groups. Using a closed group which limits access to just those who pay for the service is cool.
Two payment models can be used to run a signals service from social media.
a) You may decide to allow users to get in for free, but on condition that they sign up for trading with your preferred broker. So you could ask users to sign up for free using a broker like Trade 24 as the broker of choice. The advantage of using this service is that it tends to be more profitable in the long run. The user may decide he has learnt enough from your signals service and pull out, but you still earn affiliate trade income on their trades. I have personally used this model to pull in an average of $180 per client in a month. Assuming you have 20 dedicated clients, you can imagine how much you will make in passive income.
b) You can decide to charge directly for this service. In other words, you provide signals and access to the Facebook or Linkedin group to just those who pay for it. The disadvantages here are that you will have to invest in security to prevent unauthorized access to your signals, and a user may decide to pull out at any time.
The pre-requisite here is that you must take some time to actually learn how to trade profitably. Once you have started to post consistently good results, the social media will open their arms to you to implement what has been discussed above.
My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.