Student life is expensive. Believe me, I know. At the moment I’m studying business administration, and I make money by building websites and investing. In this article, I share my experiences with making some extra money by investing as a student.
How I started trading
I used to think that trading as a student was impossible. If you don’t have tens of thousands of pounds in your bank account, how could you possibly make a profit? Contrary to popular belief, there’s a good chance that you will make a good profit even with a small amount of money!
I started trading with the broker Plus500. It is one of the most user-friendly brokers and it offers a free demo of 40.000 pounds . With this money you can immediately buy or sell some stocks, and you can keep the profit you make. With this free demo, you’ve got nothing to lose!
After my first trading activities with the demo, I made my first deposit of 100 pounds. It was immediately successful; I made a profit of 100 pounds in a short period! I still think it was beginner’s luck, but with practice it is definitely possible to make a good amount of money by trading in stocks or commodities, for example.
A free demo can be a great opportunity to learn how to make a significant amount of money investing. You can learn how to invest, and as soon as you have gained this skill, you can make some serious money without investing a lot of time or money.
Make a large profit with a small investment
As a starting investor, you can accomplish a lot with a small amount of money thanks to leverage. With modern brokers you can buy a lot with very little money. For example, with 25 pounds you will be able to spend 500 pounds thanks to a leverage of one over twenty.
The nice thing about leverage is that you can’t lose more money than you have in your account. As soon as you don’t have any more money in your account, the position will be automatically closed! This makes it possible for a student to try trading without any risks involved.
It’s wise to start calmly. When you use leverage you can make a large profit in a small amount of time; however, the risk increases equally! That is to say, if the market rate moves one pound and you have a leverage of one over ten, you will gain or lose ten pounds all at once.
Just keep partying
Luckily, trading doesn’t take up a lot of time. You’ll have plenty of time left to enjoy student life and you can keep on partying. Thanks to the presence of orders, which can be placed in a few steps, you can buy or sell an asset automatically at a certain price. This way you won’t have to sit and stare at your screen the entire time and you can place a solid order every day.
It gets even better! You can set a moment at which you take your profit and take a loss. By doing so you don’t have to keep an eye on the position all day.
All things considered, trading is an interesting way for students to make extra money. Do you want to try investing with a demo of 40.000 pounds? Click here!