Question / Discussion Aiming to make £1-£1.5k a month - how do you earn yours?

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
Certainly do. I started because I didnt feel comfortable putting my money with banks for a pension, wanted more control of my future. Its a skill like anything else so get interested and stick with it.
 
  • Like
Reactions: fajita

fajita

Money Making Megastar!
Joined
Jul 31, 2018
Messages
137
Points
108
Age
38
Certainly do. I started because I didnt feel comfortable putting my money with banks for a pension, wanted more control of my future. Its a skill like anything else so get interested and stick with it.
I need to get my head around it all!
 

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
Thats the same with anything, stick with it

Biggest advice I can give .. always! stick with the 4hr chart. None of this day trading lark. Thats where it gets a bad stigma. Use it as short term investing and .. grand
 

Boom Boom

Money Making Megastar!
Joined
Apr 7, 2014
Messages
210
Points
138
think about it this way.

There is enough money in blogging that I quit my full-time job in local government management to do it full time and now work less hours and have a FAR better work/life balance with a higher income
Interested to what extent it has improved your work/life balance. What kind of hours are you putting in weekly?
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
30,902
Points
283
Age
39
Location
Leeds
Interested to what extent it has improved your work/life balance. What kind of hours are you putting in weekly?
Probably around 10-15 hours a week truth be told but I've paid my dues doing 37hrs a week in a job and 2hrs a night on online work for 6 years!
 
Last edited:

Kevinburrow

Money Making Megastar!
Joined
Jul 18, 2019
Messages
861
Points
133
Age
40
I don't think it's possible without matched betting for most people. Don't do it if you haver a gambling disposition like me, however. Twice I've done it, twice I've made a LOT of money and lost it all lol. Latest I went from a 1k bank to 22k in 6-7 months (there were some gambles in there too) and then lost it all chasing losses on one or two results which I either messed up or just straight lost (I can't remember). And that will always happen. It was a fun ride, though :)

Stupid really, with a 22k bank I could have lived comfortably just arbing and matched betting safely while looking at other avenues.
 

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
Just for info for everyone in the UK, learn to trade and as long as you use a broker with a Spread Betting account (Ignore the word betting) then any profits, you do not pay tax in the UK.

Also look into SEO as blogging as Jon said and overtime you can make a huge amount compared to Matched Betting. Before the Google Penguin update years ago, I ranked number 2 at one point in the UK for Remote Control Cars. That basic site was making £1500-2000.

Take that skill to rank a website and a quality site that is, then the money out there compared to Matched Betting is way beyond.
 

Boom Boom

Money Making Megastar!
Joined
Apr 7, 2014
Messages
210
Points
138
Probably around 10-15 hours a week truth be told but I've paid my dues doing 37hrs a week in a job and 2hrs a night on online work for 6 years!
Thanks. I think the biggest issue is the risk from a secure job, losing pension etc. Were you apprehensive in taking the plunge and leaving your security behind?
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
30,902
Points
283
Age
39
Location
Leeds
Thanks. I think the biggest issue is the risk from a secure job, losing pension etc. Were you apprehensive in taking the plunge and leaving your security behind?
Yeah totally. I first dropped to 4 days a week instead of 5 in my job and then about a year later left all together. I was 37 and well, if I didn’t take the risk then I would never do it lol

always figured what’s the absolute worst that could happen? It all goes wrong and I have to get another job? Oh well!
 
  • Like
Reactions: Arika and Boom Boom

Maifax

Well-Known Member
Joined
Jul 27, 2019
Messages
52
Points
68
Age
44
yes as long as you are dedicated to build up to that level of income
@Jon just out of interest (cos i find this fascinating!)- is this your only site or do you have others that contribute to your blogging income?

@fajita I've seen a lot about cash cow youtube channels recently - it all takes work, but that might also be worth looking into too.
 

Maifax

Well-Known Member
Joined
Jul 27, 2019
Messages
52
Points
68
Age
44
Just for info for everyone in the UK, learn to trade and as long as you use a broker with a Spread Betting account (Ignore the word betting) then any profits, you do not pay tax in the UK.
@SimplyHow I've been learning how to trade slowly this year, but there is alot to bullshit information out there. can you recommend any resources to learn from?
 

Jon

Administrator
Staff member
Joined
Oct 17, 2013
Messages
30,902
Points
283
Age
39
Location
Leeds
@Jon just out of interest (cos i find this fascinating!)- is this your only site or do you have others that contribute to your blogging income?

@fajita I've seen a lot about cash cow youtube channels recently - it all takes work, but that might also be worth looking into too.
I run The Money Shed (forum + blog site)

That's it in terms of blogging income
 
  • Like
Reactions: Maifax

Maifax

Well-Known Member
Joined
Jul 27, 2019
Messages
52
Points
68
Age
44
I run The Money Shed (forum + blog site)

That's it in terms of blogging income
It's really impressive that you have managed to replace your income this way.
 

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
@SimplyHow, what markets are you trading? And what's your edge?
Sorry I didnt realise you replied. It's more about what your risk is per trade rather than what market. Only risk 1-2% of your balance on any trade.

My actual main avenue is SEO and Affiliate Marketing which I would say is a more stable way of looking to make money on the net over time just as Jon has. The biggest hurdle for anyone is patience. Learn SEO, Affiliate Marketing and Trading and you will be set for life once you build those skills together.

On a sidenote, Bitcoin is going to goto 30k so not financial advice but I wouldnt buy but be careful. I could be wrong but its in the news so the bigboys will sell out again soon and it will retrace in price.
 

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
Overall just the US30 (Dow) and the EURUSD at times. I can't remember but its the strategy you build a skill for, not really the market as once you know the wood from the trees you can apply a strategy to most markets even though each market has its own personality/movement to a degree.

I just normally like the Dow but its going sideways at the moment and talk of a huge crash so will see what happens.
I don't sports bet no, just financial markets. Its not a get rich scheme what so ever, risk of a trade is more important than anything.

My advice to anyone is to build a business first so you have an income ontop of your dayjob and then use that money to amplify it, not to use trading as a way to make money without money you can't afford to lose. The ROI in itself is much much better when you create a business (An Asset) first, rather than trading which isn't an Asset you own or control.
 

SimplyHow

Well-Known Member
Joined
Sep 22, 2019
Messages
16
Points
53
Age
46
Edge wise I cant really say much as it's taken me 3 years to learn what works and what doesnt however I'm happy to give some tips as at the end of the day you can learn a great deal, but you only need 10% of it say as an example.

Dont use to many indicators- they distract you from what the price is doing. I use 2 that all, RSI and one other.

Understand support and resistance

Learn candlesticks although you only need the fundamental understanding.

Never buy a course on anyone who runs a YouTube channel. Some very good traders out there who can see the intricate details but you seriously can take the info out there and test your own ideas. That's until you find something that works for you most of the time as you will never get trades work all the time.

They are high level tips above level but trading is a skill the same as any skill that makes money.

After 3 years I still say SEO will bring you the best ROI then learn trading once you have built an asset but I'm v glad I have learnt.

You need a large account to give a decent ROI without losing more than 1-2% if a trade did go against you

Demo trade for months.. not with your own money until you are very demo profitable.
 

Members online


Amazon Discount Finder Tool

Find hidden 80%+ savings on Amazon products



 

 

 

 

 

 

 


TMSPRESTO