3 Different Ways To Earn Money In The Currency Trading Niche
Many people think that the only way to make money from forex trading is by physically trading the markets yourself. However there are many other ways you can grab a slice of this profitable market. In fact there are three methods that immediately spring to mind.
If you are not yet turning a profit from your trading, then you may want to consider becoming an affiliate marketer and trying to sell forex-related products to other traders. The benefit of doing this is that you can earn a percentage from each sale, and this percentage can be anywhere between 20% and 50% in a lot of cases. So just selling one high end training course could earn you several hundred dollars.
The forex niche is one of the most competitive niches on the internet, but there is still room for everyone to make money. The best approach is to build a presence online either through your social networking account or via a blog, and then build an email list because then you can email promotional offers directly to other traders.
If you are making money from your trading, then there are two additional ways you can make some extra money. They both involve sharing your expertise.
One profitable approach is to sell your signals directly to other traders. So as soon as you open or close a trade, this information is relayed to all your subscribers in real time via internet messaging, email or text message for example. Therefore they can trade the exact same signals as you do.
You could even make use of automated signal services if you so wish. Here the trades are placed automatically in each of your subscribers' accounts as soon as you open or close a trade, so it is even more beneficial for your subscribers.
The other approach is to share your expertise by selling your own forex product or running your own training course. There are lots of people selling their own products online these days and you can make some big profits, particularly if you approach other marketers that have big email lists and offer them a sizeable commission from each sale they generate in return.
So hopefully you can see how much money there is to be made in the currency trading niche. Admittedly there is more potential to make money if you are a successful trader yourself, but this isn't absolutely necessary because you can still make vast sums of money by promoting other peoples' products as an affiliate.
By: James Woolley