I had a thought today about an alternate way to make money through trading without having to be a very porifitable trader.
When I first opened a live account my broker gave me a £200 welcome bonus. The condition was it was only withdrawable after I'd opened and closed a fixed number of trades. Of course being new to trading then I lost this bonus and 10% of my account.
I noticed that a very well known broker is offering up to a 20.10% bonus on ones deposit. Of course there are conditions, the main one being that the trader is required to place 400 round trip trades before the bonus is paid out.
With a £20,000 deposit we are talking about a bonus of £4,020.
Say you were at the level where maybe you weren't making lots of money from your trading, but you were at least breaking even, it would be fair to say you could take 400 short term trades in the space of 2 months with the aim of breaking even, or better, by the end. Then you collect your bonus and move on to the next broker. Or even if you did it as a one time thing you have just made yourself £4,020 to add to your trading account or get that signed copy of Ghostbusters II you always wanted.
Or maybe I'm just talking nonsense.
When I first opened a live account my broker gave me a £200 welcome bonus. The condition was it was only withdrawable after I'd opened and closed a fixed number of trades. Of course being new to trading then I lost this bonus and 10% of my account.
I noticed that a very well known broker is offering up to a 20.10% bonus on ones deposit. Of course there are conditions, the main one being that the trader is required to place 400 round trip trades before the bonus is paid out.
With a £20,000 deposit we are talking about a bonus of £4,020.
Say you were at the level where maybe you weren't making lots of money from your trading, but you were at least breaking even, it would be fair to say you could take 400 short term trades in the space of 2 months with the aim of breaking even, or better, by the end. Then you collect your bonus and move on to the next broker. Or even if you did it as a one time thing you have just made yourself £4,020 to add to your trading account or get that signed copy of Ghostbusters II you always wanted.
Or maybe I'm just talking nonsense.