I’ve met traders who are also airline pilots, doctors, and dentists. More and more people are trading on the side in their bedrooms.
One trader of this type is Jackie Mitchell, 52, who trades in the morning and runs a dry cleaning shop in the afternoon. Her interest was piqued seven years ago when she attended a free seminar. “I thought great, this seems fairly straightforward and started trading the next day.”
Since then, Mrs Mitchell, a mother of four from Northwood in Middlesex, has lost her £3,000 pot on two occasions. “There have been many highs and lows, lots of tears and laughter,” she said.
Mrs Mitchell said that she is now making money, but like many traders did not want to make her earnings public. “I pay my bills and have the advantage of being able to trade from my computer, so I can go on holiday for weeks and take my screens with me,” she said.
Almost anybody can sign up to an online investing platform from home such as UFC Markets, InterTrader Direct, ETX Capital or IG, with as little as £100.
It is possible to make money by following the moves of institutions and big players, quickly buying or selling stock or currency in reaction, Mr Burton said.
[cs_quote column_size=”1/1″ quote_cite=”Charlie Burton*” quote_cite_url=”#” quote_text_color=”#000000″ quote_align=”left”]You don’t need to know an economy inside out, but follow what is moving the markets and jump on the back of big players moving and any news announcements.[/cs_quote]
However, experts remain sceptical of the practice. Brian Dennehy, from FundExpert, the investment shop, advised traders to treat any shortterm gains with caution.
“Don’t get confused by a string of successes. These are sometimes down to sheer luck. You mustn’t confuse a coincident lucky trend with personal genius,” he said.
*Charlie Burton, the Porsche and six-figure account forex trader from Greenham in Berkshire, once made £7,000 in five minutes on a single gold trade and has 17 years’ experience trading with a fund management company.