Is it ever right to try & make money quickly?

by Erika Torres
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On the whole, it’s best to make money steadily by your hard work and by spending less than you earn. In this way, you get to appreciate wealth gradually – and understand the freedom it can bring you rather than the things it can buy.

But if you feel you already have this kind of maturity and understanding – then there’s surely nothing wrong with trying to take a little bit of a “quantum leap” forward now and again? And as a wise man once said; we shouldn’t let our fears of losing be greater than tour excitement of winning. When it comes to financial matters – this kind of thing can be the spice of life.

At the same time, it’s always important never to invest or trade with more than we can afford to lose – but there are also ways we can limit our losses.

One way it is certainly possible to make a lot of money quickly if you get it right – whilst simultaneously using tools to limit the downside is through the trading of contracts for difference – better known as CFDs.

CFDs most commonly cover well-traded big cap companies and indices. There’s a wealth of information online about CFDs, but basically, you’re trading on the margin in the differences in price. So if you think a large company’s share price is going to go up – there’ll probably be a CFD you can buy which is based on the value of the margin. In other words, you’re leveraging up your money as you aren’t buying the shares – you’re trading on the way those shares will move at the margin. In short, when you get this right, you can make a lot of money in percentage terms. But when you get it wrong – the converse is also true.

The best thing is to practice first. With Tradefair for example, and some other trading platforms, it’s possible to trade in real markets for CFDs and in real time – but entirely in demo mode. This is a great way to get started in giving it a go without putting any real money at risk whatsoever.

You can also safely practice limiting your losses through the use of various tools including stop-losses.

Trading in this way can be fun, exciting and lucrative if you get it right. But it’s also important to remember that you need to fully understand the risk involved. Remember that no-one gets them right all the time.

The Tradefair site also includes lots of different technical analysis tools to help you make your decisions. So if this is something you want to try – remember that practice makes perfect. Get used to the site in demo mode and all its nuances and you might just make some quick money. And if you do – you’re mature enough to realise (if you’re reading this site) that this isn’t always the way it happens. So treat the gains with respect, but have a good time too. We all need a little “carpe diem” in our lives after all.

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