Making money in an economic crisis is hard isn’t it? That is the common question many have directed at me over the last few years.
Can I make money day trading in a recession?
The truth is, things are tough out there.
The global economy hasn’t recovered since the 2008 crisis.
The rich are getting richer and the poor are getting poorer.
Although the official unemployment rate is 5.5% the real number is above 10.9% if you include those that have stopped actually looking for jobs and the underemployed.
This is one of the reasons why I found day trading so enticing at the tender age of 18. It wasn’t about making millions of dollars, driving around fancy cars, or even buying fancy gadgets.
I found it compelling that I could have a career when I could make more money when things are bad.
My drive in life has always been to have my freedom.
What would freedom be if we couldn’t make money when there was an economic crisis or recession?
Watch the video on YouTube if you are having trouble below
The recent episode of the Greek crisis reminded me why I wanted to learn how to day trade. It’s the sole fact that no one is in charge my destiny except the man I see in the mirror. Even when the world is falling around us.
There are few places in the world that allows us to obtain the ultimate level of freedom.
If we own a business we can be our own boss.
Once a recession hits who are we going to sell to?
If we are real estate agents who is going to buy a house when no one has any money?
Making money in an economic crisis is easy once we realize that the volume and volatility increases in the markets. Day trader’s make money when the market goes up or when it goes down.
The common saying is the stock market goes up the stairs but goes down the elevator.
When a crisis hits people panic. As the panic ensues the markets go wild with not only fear but speculation. This is a gold mine for traders because of the increase in movement. The more movement we have the more opportunities that arise. The more opportunities that arise the more money we can make.
Just wanted to do this quick video from Santorini to talk about that and explain why the upcoming crisis is a good thing not a bad thing.
There were more millionaires created during the Great Depression than at any time in history. The upcoming crisis is going to provide an unparalleled opportunity for traders. That is one of the reasons why it has never been a better time to learn how to day trade.
Now that anyone can open an account with just $500 to $1000 there really isn’t an excuse.