Build a Second Income Trading The Stock Market

Every day, literally millions of people “Google” the internet in search of a way to increase or supplement their income. And the need for extra income increases as the cost of living continues to rise for average families. The desire to earn extra income can be not only frustrating, but down right frightening especially for people who are reaching retirement age with limited retirement income.

While many people use the internet to sell items on eBay or Craigslist, most overlook the internet as a viable means of earning extra income by trading the stock market. Few people even realize that they can build their own stock market trading business on nothing more than a laptop computer. In fact, you can start a stock market investment business with as little as $5,000 in capital and less than $100 a month in business expense. Not bad when you consider the potential for unlimited income.

(Note: You can start with less than $5,000, but I do not recommend it. As for monthly expense, you would probably spend close to $100 a month for gas and meals even if you opt for a part-time job, so don’t let the expense get in the way of your success.)

You might be familiar with CNBC financial commentator Jim Cramer. He wrote a book entitled “Real Money.” He believes that a part-time investor can make money in the stock market by following a strict set of rules. One of his rules is to spend at least 1 hour per week (more is better) researching any stock that may be of interest to you as an investment. He also suggests that you learn stock market trading from a mentor. (This is where the $100 per month expense comes in.)

If you have plenty of time to learn and sufficient funds to cover losses while learning, you can do this on your own. However, I know from personal experience that you will save a lot of money and time by subscribing to the services of a professional mentor with a sizable number of members and an active “chat room.” Just what you will learn from experienced traders in the chat room is worth thousands of dollars.

If you are still working and don’t have time to sit by your computer all day, you will need a mentor and a trading room that specializes in “swing trading.” Your mentor should provide you with 2 or 3 swing trade alerts weekly and considerable study material on the strategies behind swing trading. The idea behind this strategy is to produce profits on an ongoing basis simply by trading 2 to 5 times weekly with 1 to 4 day hold times.

Your mentor should be making the same trades that he or she is suggesting so that you have the opportunity to mirror their trades when you are first learning. Even if you only plan to mirror the trades you will need to take the time to learn the process used in picking the trades. The system is simple but it takes a little time to learn. The harder you study the more sense it will make which will add a lot of confidence in the trades you make when you begin trading on your own.