Finding a broker that allows people to copy FOREX trades

This is the most important part. Not every broker allows you to copy other successful FOREX traders. Although more brokers are starting to allow this it is best to choose a broker who has done this for a while. I personally use eToro as my FOREX broker. They are an award winning FOREX platform renowned for their easy to use interface. Their Openbook network makes it easier to find successful traders and they provide many resources for newcomers. If you are a newcomer I highly recommend them because their interface is so much easier to understand. Once you get understand the concept and how it works you can go looking for more advanced FOREX brokers.

Copy trades of successful FOREX traders and earn money with low risk

Finding FOREX traders to copy

This is the most important thing and a step that will decide how much money you will make. If you want to copy FOREX trades you need to find the successful traders. When finding a trader there are few things you need to consider

•  Success rate of the trader - success rate means the percentage of trades that ended up giving profits. Some traders have 100% trading records. These are people who invest high amounts with low leverage. You are guaranteed profits with them but the profit will be small. Any trader that has a success rate above 90% is a good trader to copy.
• Frequency of trades - No point having a 100% successful record if they are trading only once a week. Look for traders who are trading frequently. This way your investment will increase steadily. Just remember you wont get rich overnight copying traders, instead use it as a process to make some money while you are still learning the trade.
• Risk Level of the Trader - Risk level indicates how much risk a trader takes when doing his trades. This usually means the leverage level. If a trader uses high leverage he can earn a lot but he can lose a lot as well. It is advisable to avoid high risk traders.

The optimum solution would be to find a successful trader who trades often with low risk levels. This is a rare combination but you can find them with some careful searching.

Testing current traders and finding new traders

Copying FOREX trades and just waiting wont make you a lot of money. Lots of things can happen once you started following a trader. He might move onto another FOREX broker, stop trading for a while or reduce the number of trades etc. This is why you need to constantly check how they are performing and reinvest your money if necessary. If you see a trader is successful and trades frequently then you can invest more money towards his copies and reduce the amount spent on people who trade less frequently. All these data are available to you in your dashboards as an easy to view overview so you shouldn't have any trouble analyzing them. Also some FOREX brokers sends out a weekly email announcing that weeks successful traders. This makes it much easier to find successful traders. If you decide to copy FOREX trades testing and reinvesting is a must do thing to increase profits.

How much to invest

Most FOREX brokers allow you to start from 50$ but it is always a good idea to invest a considerable amount. Most traders recommend you to start from 10,000$. At least invest around 1000$ so you can see a considerable return for your investment. This also helps you spread your money to copy few traders. This is especially important if you are hoping to do FOREX trading yourself. Investing more gives you the ability to trade big amounts using low leverage. Another advantage is the bonuses you get from FOREX brokers. Some FOREX brokers gives you a bonus as much 50%. So if you invest 1000$ you can get a bonus around 500$.

Learning from the best FOREX traders

Once you find few successful traders you can learn from them and get more comfortable at trading. You can check out which currency pairs they are trading, what are the times they are trading and how they manage risk by using leverage, stop losses etc. If you are interested about learning FOREX following some successful traders online will help you immensely. While following them make sure to practice trading using your practice account. They provide you with some virtual money to get started. Don't be careless just because they are virtual money.

Can I get rich copying successful FOREX traders

The answer to that question depends on the amount  you invested and the traders you decided to follow. Although you can copy FOREX trades your end goal should be to learn trading and open your own trades. However if you want a low risk way to earn money from FOREX then copying them is a good way to go about it. If you have any questions feel free to ask them in the comments section.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Copy FOREX trades and profit in a browser.

Top Revenue Sharing Websites

Mentioned below are some of the top sites in this category. These are established sites that have been around for a while and carry some authority with Google. I personally use these sites and make money from them.

InfoBarrel

InfoBarrel users earn up to 90% of the advertising revenue, making it one of the most lucrative revenue sharing websites in the world. InfoBarrel doesn't have the fancy modules of Squidoo or HubPages, but the basic module are more then enough to create a great looking article. The main revenue source is Adsense but you can earn through Chithika and Amazon as well. Your initial articles must be approved by admins, but you are free to publish after you become a trusted author. If you keep on submitting quality articles you wouldn't have any trouble getting approved. Provides Google Analytic integration as well. Join InfoBarrels and start making money now.

HubPages

HubPages is an article writing website which share 60% of the revenue with their users. If you managed to refer someone you will get 10% of their earnings as well. HubPages has a rich interface to write articles and makes it very easy to add images, videos, Amazon advertisements etc. using widgets. The main revenue source is Adsense but they have their own advertisement program as well. A good place to start if you want to make money online.  Join HubPages and start earning money.

Squidoo

Another popular revenue sharing websites, but the revenue sharing modal is different in this service. Every article you create is called a lens and they are ranked based on different factors like traffic, back links etc. The first 2000 lenses get a higher percentage of the ad revenue, from 2000-8500 get a lesser percentage and the ones from8500-85000 gets even lesser revenue percentage. The revenue model is bit skewed towards the top lenses so you need to put some effort to make money with Squidoo. Because you don't need an Adsense account to make money with them this is perfect for people without Adsense accounts. Join Squidoo and start earning Money.

How to Make Money with Revenue Sharing Websites

Any revenue sharing website has some social element attached to it. Although you can gradually reduce the involvement it is very important in the beginning. In some revenue sharing websites like Squidoo it is a critical part of the algorithm. This is one reason I like InfoBarrel over others, the social involvement is minimal with them.

As with any websites keyword research is very important if you want to earn with revenue sharing websites. Because of the excellent internal linking structure of these websites you can rank well for long tail keywords with low competition. All of these websites has articles covering how to earn with them. Make sure to read them and understand how the payment structure works, how the advertisement placement work etc.

You need to add a fair number of article before you start seeing results. Focusing on many revenue sharing websites at one instance is not a good idea. Try to build a good profile in one websites and then move to another site. Even if they don't make you money they are still a good source of back links, so joining a few of them is a smart long term investment.

If you have any doubts or questions about any of the revenue sharing websites mentioned above feel free to ask in the comments section. If not join all of them and start making money now ! .

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Revenue Sharing Websites and How to Earn More with Those Sites in a browser.

Social Media Marketing

There were numerous studies done on this area and they all have come up with the same conclusion. People are using their social networks before buying anything. They rely on their friends recommendations more than what they find in search engines. People are starting to realize that search engines can be games, so they turn to their friends. Not everyone is active on social media so search engine optimization is still important, but a good social network is also important. This is very important if you're in the make money online niche. Top companies have already identified this and using paid tools to monitor keywords and brand mentions in social networks. Now is a good time to learn more about Facebook marketing and Twitter marketing.

Make Money Online in 2012

Quality Super Sites are the Future

Highly targeted niche websites still work but not as effective as before. Most probably they will go further down in 2012. Quality sites with lots of useful content will get authority and easily outrank niche websites. It takes time to build authority but very beneficial in the long run. Spend time writing lengthy but quality articles and make sure to make them readable without spamming keywords. Google is putting lot of emphasis on authority and freshness, so it will be hard for part time blogger for rank for competitive niches, so be picky about the niches you are targeting.

Competitive Niches Are Not Out of Reach

Google has really started to crack down on poor quality sites and people who were targeting long tail keywords with poor quality sites got a hit. Revenue sharing sites like HubPages, Squidoo removed thousands of articles related to FOREX, insurance, health etc. This has left a gap that can be filled by smart marketers. Instead of using scrapped content you can create useful and informative articles around those long tail keywords and profit from them. If you are relying on search traffic to make money online creating quality content is a must.

Big Demand for Internet Service Providers

Thousands of people are creating blogs everyday looking to make money online and this has created a huge demand for Internet services related to digital marketing. Search engine optimization, conversion optimization, web designing, email marketing are some of the Internet services that will have a huge demand in 2012. If you are looking to make money online by only creating websites you are dependent heavily on Google for traffic and that is a risk. Branch out to providing services and build a client base for your services. Multiple revenue streams are a must for successful online businesses.

Make Money Online Basics Will Never Change

Although the trends and the techniques will change there are some constants when it comes to making  money online. This is not a get rich quick scheme and you need to work hard and smart. keyword research , SEO , producing quality content etc. are still important and you need to be able to get over your failures and learn from them. And remember the most important rule of them all, TAKE ACTION.

Wish you all a happy and a prosperous new year.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Make Money Online in 2012 Areas to Focus and Things to Avoid in a browser.

eToro - One of the Top FOREX Affiliate Programs

One of the best affiliate programs for FOREX trading. There are some unique features in eToro that makes it very attractive for people who are new to trading. Since this is a huge market segment partnering with them can be very profitable. Below are some unique features in eToro.

• Visual trading modes so new users can understand things easily
• Live chat with fellow traders so can discuss big decisions
• Copy Trader ability, so you can automatically trade with top traders knowledge
• Social network so you can follow best traders and their trades

Mentioned above are some of the unique features in eToro. Other than that they offer a high payout, dedicated affiliate manager, easy reporting system and two tier affiliate scheme. Another thing I like about eToro affiliate program is that they state exactly how much you will earn with different revenue models, which is not so clear with some FOREX affiliate programs.Definitely one of the best programs and a platform that is easy to promote. Join eToro affiliate programs now.

Logos of some Top FOREX Affiliate Programs

Things to Consider when Selecting Top FOREX Affiliate Programs

I have listed only a few, but there are many more FOREX affiliate programs available to you. If you come across a new one you might have trouble deciding which one is best. Below are few impotany things to you should consider before making a decision

• Commission Plan - How much the program pay for a referred user, it it a one time payment or a commission based on the profit of the referred trader or is it a hybrid plan involving both methods. New FOREX affiliate programs usually give away high returns to attract new affiliates, but you have to check how easy it is to sell the trading system as well.
• Second Tier Payments - It's important that you earn a percentage of your affiliate earnings. In a profitable market like FOREX, referring even one active affiliate can mean thousands of dollars in revenues.
• Attractiveness of the Platform - The FOREX trading platform should be easy to use and should provided users with the best possible chance of making money. Guides, live training, online chat availability etc. helps new traders make money which in turn will make you more money.

Joining a top FOREX affiliate programs can help you make thousands of dollars online. Some users even make millions per year promoting currency trading. If you are into affiliate marketing this is definitely one niche you should not ignore.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Top FOREX Affiliate Programs With Passive Income Options in a browser.

What is Affiliate Marketing ?

In very simple terms affiliate marketing is you selling a product or service belonging to someone else and getting paid a commission for it. If you think of doing this online the basic steps would involve the following

• You sign up as an affiliate with a product
• The owner of the product gives you affiliate links and banners with your special code in it
• You add those banners and links in your blog
• Readers comes to your blog, see the affiliate links and visit the product site
• You get a commission if the reader buys the product

So if you are a high traffic website then you have a very good chance of making money from affiliate marketing.

What is Affiliate Marketing

How to Become an Affiliate

Now that you know what affiliate marketing is the next step is to become an affiliate. Joining an affiliate service and becoming an affiliate is easy, the hard part is finding the right product to promote as an affiliate. If you are blogging about birthstone jewelry then there is no point in promoting coffee makers. You need to find a product that is closely related with your blog and something your visitors would want to buy. If you are blogging about Twitter then you could sell a Twitter management software. Once you identify what kind of products you are going to sell as an affiliate simple do a Google search for that and you will find plenty of services that you can join as an affiliate.

Note - I have noticed that many struggle to select the right product to promote in there blog. If you are not sure about what to promote feel free to contact me for advice. Don't worry it wont cost you anything .

Choosing an Affiliate Program

Even if you identify a product there can be several affiliate programs for the same product. So below are few things you should consider when choosing a program

• Good Product - This is the most important thing in affiliate marketing. Your readers already trust you, so you shouldn't break that trust by promoting a poor product. Preferably you should have tried the product you are promoting.
• Commission Level - Although the service that pays the highest commission might not be the best option, you have to maximize your returns. Check which service is giving you the best payout.
• Payment Plan and Method - When it comes to payment there are few things to consider. Do they have minimum payment level and can you achieve that ? Do they pay on a monthly basis ? are few things regarding the payment plan. Payment method is also important, if you live in a country like Sri Lanka where PayPal is send only, they you need to have other ways like checks to receive payments.
• Tracking and Reporting - If they don't provide good tools to track your traffic and sales then you don't have a good way to judge your success with them, so providing these tools is a must.
• Banners and Promotional Material - If they don't provide enough banners you might end up creating your own banners, which could be cumbersome if your not good at designing things.
• Two Tier payments for recruiting affiliates - If they pay your for recruiting affiliate then its a nice way to earn some passive income.

Commonly Asked Questions about Affiliate Marketing

Below are some of the commonly asked question by reader of this blog. If you have a specific question you can ask in the comments section or contact me directly.

• Lets say someone visits a product website through my affiliate link. But he or she didn't buy the product that day. If they come back later without directly without using my affiliate link will I get paid ?
  This depends on the cookie duration of that website. When someone visits there website through your link they place a small text file called a cookie with your affiliate information, in the visitors computer. As long as the cookie is active you will get paid. Generally a cookie will expire only after 30 days and some cookies don't expire for one year. So even if they come back before on year you will still get paid. However users have the ability to clear there cookies and if that is the case then you wont get paid.
• Is Amazon affiliate program always better for affiliates who promote physical products, even though there commission levels are lower ?
  Although Amazon commission level starts from 4%, it increase as you sell more products. So if you are selling lots of products then you commission level can reach as high as 15%. Another advantage of Amazon is that people already know about Amazon and trust them. So it is far easier to sell something via Amazon rather than an unknown website. You have to track your earnings and traffic and choose the service that suits you best.
• Why do I have to get approved to be an affiliate with some services ?
  You have to understand that some services take there affiliate very seriously. They assign an affiliate manager for you and give you tracking tools etc. All these are additional costs for them so some affiliate services have an approval process.
• What are good affiliate programs that I can join easily ?
  As I said there are plenty of programs, so you need to find a related affiliate program. For a general program that promotes all kinds of products Amazon affiliates is a good place to start. Commission Junction also has lots of products for you to promote.

If you have any more questions about affiliate marketing feel free to ask them in the comments section, or clarify them by contacting me. If you enjoyed this article and learned something from it please help me spread the word by sharing it in social networks.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read What is Affiliate Marketing and How Does it Work in a browser.

Another important things to remember is that two tier affiliate program is not something similar to Multiple Level Marketing or Pyramid schemes as they are popularly known. You don't have to build a down line to make money. If you don't recruit anyone at all you can still make money promoting the program. If you manage to recruit affiliates then you will earn a nice passive extra income.

Make Money Recruiting affiliates

Programs to Make Money Recruiting Affiliates

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Make Money Recruiting Affiliates ( Two Tier Affiliate Marketing ) in a browser.

Advantages of InfoLinks

Mentioned below are some advantages InfoLinks have compared to few other services.

• No space required - This is one of the biggest advantages of using this service. As I mentioned above InfoLinks scans your blog and highlights some keywords. So you can utilize the space of your blog for another advertisement service or to highlight other important aspects of your blog.
• High Click Through Rate - Because the advertisements are most of the time within the post InfoLinks ads tend to have a high click through rate. The click through rate for most of my blogs were more than 6% which is better than most advertisement networks. For people who are new to making money online, click through rate is the number of clicks per 100 ad impressions.
• Easy Integration - It is very easy to integrate InfoLinks advertisement into your blog. A small java script is generate for you and you just have to add it within your body. There are plug-in's for WordPress users, widgets for Blogspot users and Drupal modules and Joomla modules as well.
• Can be used with other advertisement networks - Because it is an in-text advertising service you can use it with in conjunction with many other advertisement networks, without violating there terms of service. This includes Adsense as well.
• Easy to join - You need to have your own domain to join a advertisement network like Adsense, but you can join InfoLinks even if you have only a Blogspot blog, which makes it a good Adsense alternative. You still need to have a quality blog because every blog or website that is accepted to the network has to go through a quality check.
• Easy to change setting - The basics setting like color of links, number of underlining links, number or links to be highlighted as advertisements and the category of your advertisements can be easily modified without changing the advertisement code.

InfoLinks Review In-Text Advertising

Disadvantages of InfoLinks

There are certain disadvantages of using InfoLinks as well, listed below are some of them.

• Low Cost Per Click - Although you have a high click through rate with InfoLinks, the cost per click is lower when compared to other networks like Adsense. This should vary according to your niche and in general niches like business and automotive tend to perform well.
• Very Low pay for International Traffic - If you are not getting a large percentage of your traffic from USA you will see very low CPC in your reports. In one of my sites where I get most of my visitors from Sri Lanka I earn 0.03$ from almost 10 clicks. Definitely not recommended to use if you are not getting US traffic.

How to Increase your InfoLinks Earnings

In the above sections of the InfoLinks review  I discussed about advantages and disadvantages of InfoLinks, In this section I will discuss few things you can do to  increase your InfoLinks earnings.

Choosing an InfoLink color - By default green is the color assigned to your ad units and it does tend to perform very well. You can choose a different ad color if you want the links to look more natural and not like advertisements. Its always a good idea to choose pleasing colors like green and light blue.

Choosing Category - In the integration section you will find a place to define the category, which determines the type of the ads you will receive. This helps a lot in increasing your click through rate, because then you will get more targeted ads. More clicks mean more money.

Ad Placement Control - You have the option of choosing which sections to displays InfoLink ads by using INFOLINKS_OFF and INFOLINKS_ON tags. This way you can show more of your ads withing the post content instead of places like previous posts, Introduction text etc.

At the time of writing this InfoLinks Review I have being using it for almost a year my conclusion is that if you are getting lots of US traffic then it is a great way to increase earnings from your blog, if not your better off looking for another service.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read InfoLinks Review and How to increase your InfoLinks earnings in a browser.

Blogging

Blogging is a great way to make money online and it is something that have the potential for recurring income. There are plenty of free blog hosting platforms like Blogger, WordPress which you can use to create a blog. I personally use Blogger because it allows you to use Java script which is used by many advertisement providing companies, including Google Adsense. The problem with this method is that it takes some time to make money from your blog. You need to build back links and bring traffic to your blog and then you can monetize that traffic. Another advantage of blogging is it provides you many ways to make money. You can use sponsored posts, CPC advertisement networks like Adsense, Private advertisement selling or even resort to selling text links.

Reading Emails

Another free way to make money online, but you need to read lots of emails and you need refer lots of people to make money through this method. It is very difficult to reach the minimum payout just by reading mails, you need to speed up the process by referring more people. I mainly use these services to know about the new products coming up in the Internet marketing field, but provided you can find good number of referrals this is a good way to make money without spending any.

Online Surveys

Another good way to make money online, but if you are living outside US or Canada then the number of surveys you get are very limited. Here also if you want to reach the minimum payout you need to get referrals. There are many fraudulent companies as well in this niche so it is not easy to find a good company that offers paid online surveys.

Freelance Work

If you are skilled at something then doing freelance work is another good way to make money online. It could be writing articles, creating various graphics, creating videos and proofreading etc. There are plenty of websites that offer job opportunities for freelancers and there is some job for almost anyone. You can check out my article about Freelance work in Sri Lanka to find out few of those websites.

Listed above are few methods and services I personally use to make money online. As I mentioned at the top of the article although it is possible to make money online without spending money, you need to put a considerable effort to make money from these methods. It is much better to build profitable websites for a passive income that will be profitable for a long time. If you are interested in such a method that check out the keyword academy, one of the best online courses for make money online beginners.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Make Money Online Without Spending Money in a browser.

1/ Creating Hubs , Squidoo lenses

If you got the talent for writing then creating Hubs and Squidoo lenses is a very good way to make money online. These services are free to join, have great tools to create beautiful articles, rank well in search engines thus bringing your more traffic. It is definitely much easier than creating your own blog and getting your posts to rank. These services are also great for people who like to write but don't want to be bothered about managing a website etc. These service share a percentage of there earnings with you, so more articles your write greater the chance of making money. Some of these websites require you to have an Adsense account but services like Squidoo don't need an Adsense account. Also if you have enough quality content in your account you can apply for an Adsense account through there website.

• Create a HubPages account, write a quality article.You can even send it to me so I can review and point out some things to improve. Create HubPages account for free.
• Create a Squidoo account, write another quality article and if you wish you can send it to me for review. Create Squidoo account for free.

2/ Blogging

To earn money from blogging you need some patience and perseverance. You can't start a blog and expect to make money straightaway. The good thing about blogs is you can rank different posts in search engines and make money from them. Niche blogging is something that is profitable but it requires some basic background knowledge. Check my article about the keyword academy to get an idea on how to start niche blogging. It is best if try the things mentioned in the first point. If you are comfortable with those sites then you can consider starting your own blog.

• Read the articles about niche blogging with Keyword Academy and SEO and Affiliate marketing for your blog.
• At least write five article with one of the free services mentioned above to find out whether you have the commitment required for blogging.
• If you already have a blog contact me to discuss about various ways to make money from your blog.

3/ FOREX trading

FOREX trading or currency trading is a great way to earn money and it can lead to very quick profits as well. At the same time if not done properly this could lead to huge losses as well. You need to spend some time learning the basics of FOREX trading and use a practice account until you are comfortable with trading.

• Read the article FOREX trading in Sri Lanka and follow the steps listed in that article.

4/ Affiliate marketing

Affiliate marketing is pretty similar to marketing, you promote a product of some company or business and earn a commission every time someone buys through you. You get a unique link with your affiliate code embedded on it and once someone goes through your link and buys something you will be paid a commission. Although you don't need a blog to do affiliate marketing it is far easier to promote affiliate products through a blog. If you don't have a blog you can use forum signatures, Email signatures etc to promote your affiliate link. I promote few products as an affiliate and make a decent amount from them.

5/ PTC programs

PTC stands for paid to click and this is not the best way to build a sustainable income but I understand that some of you just want to earn some quick cash. These programs require you to log in for like 10-15 minutes everyday and clicking on ads and reading them. If you want to be really successful at this then you need to get lots of referrals because you earn a part of what your referrals earn as well. You can earn a decent amount if you manage to get enough referrals.

6/ Reading commercial e-mails

Another method that is very easy to start with not investment at all. Reading commercial email is also pretty similar to PTC sites, you want be making much unless you have a decent number of referrals. Also users outside US and Canada tend to get low number of emails as well.

7/ Doing Freelance work

If you are good at programming or graphic designing etc then you could earn some money doing freelance work. The great thing about freelance work is you can set your own time table and work accordingly. This is a great way to earn some extra cash for university students because they are already involved in these thing in the university. It is not easy in the beginning since you have to build a good reputation to get profitable projects but a very worthwhile investment.

• Read the article freelance work in Sri Lanka and follow the instructions given in that article.

8/ Data Entry Jobs

My article about data entry jobs gets a considerable amount of traffic so I know that this is a thing most people interested in, but it is very hard to find legitimate data entry jobs and even the legitimate ones don't pay that well. You need to have some knowledge of English and a decent typing speed if you want to make adequate money through this method.

• Read the article Data Entry jobs in Sri Lanka and follow the instructions given in that article.

9/ Doing Paid surveys

Online surveys are a very legitimate method to make money online but the problem is most of these paid surveys are targeted towards US and Canadian citizens. It is very hard to find worldwide surveys where Sri Lankans can participate in. These programs do have referral programs so as with most things in making money online, if you can get enough referrals you have a chance of making a decent income. Currently I'm testing out AWSurveys , so you can also start by using that service. signing up for AW Surveys.

10/ Buying and selling domains

This is another good way to make money online but you need to have some knowledge about domain valuation etc to make money through this method. There are few Sri Lankans who are doing it but if you are new to making money online then it is better if you focus on the other things mentioned above.

Listed above are some good ways to make money online in Sri Lanka, if you know some other good way to make money online in Sri Lanka please mention in the comments section so I can consider adding it in the list. Taking action is the most important thing needed to make money online, follow the steps mentioned in the article and you have a good chance of making money online.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read 10 ways to make money online in Sri Lanka in a browser.

No starting payment

One of the biggest advantages of FOREX and the main reason why it is popular among general public is that it is free to start. No setup fees, payment for software or monthly payments are required. The trading software is given for free by the brokers and you get some play money to start practicing. The brokers are compensated by a thing called spread for each transaction.

Markets open for 24 hours

The markets are open for 24 hours and closes only in weekend. But since the trading starts from Monday morning in Australia and closes on Friday afternoon in USA you can basically trade for around 6 days in the week. Since transactions are done online you can trade from anywhere in the world that has an Internet connection. Also because the markets are open for most of the week you can choose your time and do trading on part time basis. Keep in mind though there are time slots that offers more opportunities, so its a good idea to read up on best times for FOREX trading.

No middlemen

Although you are dealing through a broker you have total control of the transaction. You trade directly with the market, you start your own transactions and close when you choose to close it. This gives you a lot of freedom, which is precisely why you need to be disciplined when trading and learn to identify market trends.

Can trade with very low amounts

When you start trading for real you can start transactions for as low as 25$. I have friends who started FOREX trading for very low amounts like 50$. This low entry level is another reason why spot trading has become popular. Although you can start trading for low amounts this is not recommended because your chance of controlling risk is minimum.

High Liquidity

What this means is you can buy and sell instantly. Since the market is so huge there is always someone looking to buy what you are selling. So you will never have the problem of not being able to close your transaction. This also means that the market fluctuates very often making it giving you ample opportunities to do some spot trading.

Better control with software

Most FOREX software given by brokers has built in functions to help you control your transaction. For example you can specify a profit taking and stop loss margins. If you enter a profit taking margin the transaction automatically closes when you reach that profit. If you enter a stop loss the transaction automatically closes when you reach that loss level. This gives you better control over your transaction helps you to trade in a disciplined way.

Leverage

What leverage means is that with a small amount of your money you can control a much larger portion of the FOREX market. The amount of leverage you get depends on your broker software. If a broker is offering 1:100 leverage it means with 1$ you can control 100$ or with 100$ investment you can control 10,000$. Although this helps to make good profits it can lead to huge losses as well. So use this option carefully.

As you can see from the above mentioned points FOREX trading is a great way to make an extra income and if your successful could turn out to be huge money maker. If you are interested in FOREX trading you can check this article about etoro FOREX trading software. It is considered one of the most user friendly and beginner friendly platforms and was awarded the most innovative trading platform in 2010. click here to download etoro for free.

This post originally appeared at Rumbling Lankan - How to make money online from blogging . Click here to read Advantages of FOREX currency trading in a browser.