We had just relocated from the UK to Estonia, bought our first home and had started renovating it. We had very little funds and no stable income. Our little sunshine Isabella was still a baby so full time jobs for both me and my partner were not really an option and only one income was not enough to make ends meet. I started googling ways to make an income from home.
I found many things – I decided to have a go at affiliate marketing first. I started reading and learning about marketing. The key was to find a niche. And it needed to be something that I was interested in. I thought about so many different things – home decoration design (seemed like a great idea at the time as we were renovating our home with our bare hands and were on a tight budget). Also retro toys and gadgets came to mind, later on I had ideas about a techy blog. So many different ideas, yet I was not an expert in any of these topics. So what would be the way to earn a lucrative income for my family. How could I do this all from my home office. How to make money online?
The Wolf of Town Square
I used to trade currencies when I was in my late teens and working in a restaurant. As the restaurant was in the centre of Tallinn we had a lot of tourists and would accept payments in different currencies. This probably started my fascination of trading – keeping hold of different currencies and waiting for better prices to make a profit. I would negotiate the price I would accept the currency for and would exchange that for my daily generated tips. If the price was good I would exchange it to Estonian crowns. The workers of the area would get a better rate at the exchanges as they needed cash to sell on. Of course I didn’t make a huge profit out of it but it was still fun.
Trading Online
make money online
After reading some articles on trading online I decided to have a go at it. I watched all the youtube videos I could find, read all the articles and e-books I could get my hands on and was ready to become the next Warren Buffet. I was trying to choose between traditional forex trading and binary options and decided to try the latter. Reasons being – with forex you need a larger starting capital. Of course you could also use leverage but this way if something goes south it can easily wipe out your whole account. Binary options is of course risky, just as any trading but at least I couldn’t wipe my whole account in one trade. At least that was what I thought. I was ging to see if i can make money online and never have to go and work for someone else again.
I thought this was it – my big break. I was gonna make a lot of money and we would sail off to the sunset. The start was incredibly awesome. I made nearly 5000€ in just a week. Life seemed great. Until just as quickly as I made an insane amount of profit I lost all of it again. I was in shock. I had two options – to decide that maybe trading wasn’t for me, try and cope with my losses and move on or try and understand what had gone wrong and master this skill. I decided the latter.
Can You Make Money Trading Online?
This is what I wanted to find out. Was this real or was this all just a scam. The banks were doing it, why can’t we? The banks were literally gambling with everyone’s money and pocketing huge profits. Is it real? Can I make money online trading? I went back to reading, watching videos and learning. I started to read a lot about trading psychology – this is where I and so many other traders had failed. Just the simple understanding how our mind works when it comes to money was where I was lacking. And I still remember it – some sort of blind panic happened when I was faced with a loss, making me risk more. Loss aversion. I wrote an article a while back on trading psychology, have a read, helped me out a lot.
After learning and practicing on a demo for months I started to master it. I made back my initial losses and started earning a regular income. Here are some tips that I learnt in the process.The key was to practice a lot, understand the psychology behind it and keep to strict money management rules. Reinvesting profits and regularly taking advantage of the brokers’ bonuses. I tried many strategies and brokers but what worked for me was this 15 minute strategy. I also tried many different brokers. Some decent, some awful and some just outright scams. I found my favourite – IQ Option and have stuck with that ever since.
How to Make Money Online with Affiliate Marketing?
make money online
On top of trading I am making a nice passive income on affiliate referrals. After I made my initial losses and realised where I went wrong I wanted to share this info with other novice traders. I too had learnt from others’ experience and largely through watching videos and reading articles so I decided to pay it forward. Weirdly just as I had started writing the first few of my articles and was working on videos my account manager from 24option asked me is there was anyone I knew that might want to start trading. He explained that I could make commision on every trader that started trading on their platform. The stars aligned and I started to look for other brokers and financial products to review.
I tried many different ones, sadly not a lot worked out or paid off. Some were also scammy and didn’t give me my commissions at all. The best broker and affiliate program to work with is by far IQ Option. They are fair and take care of their affiliates. Also it is based on the revenue share model so instead of the standard cost per acquisition commission that most brokers give, this can actually make you a long term income.
They key in promoting anything is to believe in it yourself. There is no point in promoting a bad product. It simply won’t sell. The key to success with affiliate marketing is to provide people with genuine content that offers them some value. Don’t try to lie and scam people with made up stuff just to sell them something. They will see right through it. Keep providing quality content and writing about stuff that you believe in. Keep promoting quality stuff – then your hard work will pay off and you can sleep at night with ease. People will follow.
If you want to make money online promoting financial products, here are some of the things I recommend:
IQ Option – A great platform, no annoying sales team that keep pestering you, best payouts. Innovative design and sufficient support team. On the affiliate side – payments are always on time. No funny business. You always get your commission on traders referred. In my opinion the best one there is as the product basically sells itself. Really a great product to promote. This will easily help you make money online.
Binary Options Trading Signals – Franco’s trading room. Awesome service and signals. I learnt a lot and made nice profits. The main key of the service is trading in a group. This makes it really great – you feel more responsible making the right choices and if having a bad day other traders will gladly help point out how to do better and teach their strategies. Affiliate wise – you get a recurring commission every 2 weeks as long the trader is taking part of the trading room. Because it genuinely is a great service, people tend to stay for quite some time. I have some traders that have been trading there for over 2 years now. They are happy and I keep getting commission.
Simple FX – this is a cool platform, not binary options but traditional trading. It offers a wide range of cryptocurrencies though. You can link it to Metatrader and trade directly using your software. You can trade forex, cryptos, stocks and many more on their platform. There’s also a chat option to communicate to other traders – this I really like. Trading in a group, just like in Franco’s room gives better results. Regarding their affiliate program – also pretty good. You can get commission from people that your traders have referred too. The platform is developing rather nicely so there’s huge potential there.
24option – Not my favourite any more due to their aggressive sales tactics but a lot of binary traders still swear by them. They are one of the biggest still and do promote themselves quite a lot. They also offer a wide range of trading instruments on their platform. Affiliate wise – I sometimes question whether it’s all legit, because there seem to sometimes be issues with payouts. I have made some nice commissions with them though.
Home Office
My simple, but effective trading setup.
My simple, but effective trading setup.
So yeah, you don’t need to have a 9-5 job to make a nice income. Don’t get me wrong – both trading online and affiliate marketing are hard work. This is by no means a get rich scheme. Both of them require your time and effort much like a job would. But in the end you are your own boss. On the flipside there is of course a higher risk.This has definitely changed my life and I urge anyone who wants to take charge of their own finances to try something new. It doesn’t have to be affiliate marketing or trading. There are so many different options and possible business opportunities out there. You can definitely be your own boss and make money online. I took a risk and decided to work from home and it has definitely paid off. So the answer I suppose is – yes, you can make money online!
I would also like to share a story of a young man who contacted me over a year ago. He just got into trading and wanted some advice. I gave him some coaching and tips and off he went. A few months ago he contacted me again telling me how he had mastered trading binary options and is now coaching others. I am so proud. He’s written a little summary of his success and you can have a look at his website as well for more trading tips.
Free registration: www.iqoption.com
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