Do you have $200 right now and not sure what to do with it? Don’t worry, I got you covered right here.
You see, some days back I had an extra $200 which I was thinking how I can make some money out of it. I ended up making an extra $30 out of the $200 investment which is pretty cool.
Hey, you can’t complain for getting extra money or profit, right?
So, what did I do?
Introducing Day Trading
Yes, this is gambling and if you are in some way not agreeable with gambling, the money is best invested into small business ideas such as business ideas for men, and these for women.
Now that we are clear, let’s talk about day trading a.k.a. mid-range risk in investing.
Day trading is a process where you do not keep the stock or bond in your hand overnight. Some trading platform charges an amount for ‘night storage’ and day trading is an excellent choice to avoid the additional fees.
Start Day Trading For FREE
There are many trading platforms in the market but my favorite is eToro as it is legal entity that is safe to play and free from scam.
How To Make Money With Day Trading With Only $200?
If you are using eToro (which I highly recommend) for day trading, there are two ways you can do with this.
- Copy other professional traders (minimum investment is $200)
- Buy and sell stocks on your own account
The first option is risky but effective if you want a hand’s free strategy. However, it is important to understand that NOT all traders are day traders.
The second option is to buy and sell stocks on your own—a.k.a. becoming a day trader for yourself. Personally, I go with this route if I have $200 only as I have control on how much I could sell and profit.
What Is The Safe Value For Profit In Day Trading?
I wish I had the answer to this but sadly, no.
Day trading counts on gut feeling and yes, some knowledge in the stock market. If you are looking for quick turnaround, cryptocurrency such as Bitcoin is a great option to roll with. Two other slower but safer options are oil and gold. In the recent drop in oil and gold prices, I was able to generate around 20 – 35% profit in a day.
But yes, there are certainly some risks within it. Therefore, I recommend you to play it safe and take sometime to understand the game before going all in.
