One piece of advice to keep in mind, though, is that it is best to immediately dispose of all liquid assets in foreign currency, usually in the same day.
This is referred to as tomorrow next because it takes two to three business days for foreign currency to be delivered, and by exchanging the currency for value in stocks on the same business day, you avoid having to take delivery of the currency altogether.
Chapter 11: Other Trading Options
Besides the expert options described above, there are other nontraditional ways to make money on the stock market. In considering these options, however, you should consider making a career of trading stocks and securities. Some types of trading are simply not for the faint of heart, and that means you must have complete motivation and an adventurous spirit to take part in these areas of the market.
The chances of taking a giant hit and experiencing a great loss are multiplied.
Day Trading
Day traders take on some of the greatest market risk of all. Because day traders work with investments that change drastically within hours, they are by nature playing in the lion’s den. These stocks are extremely volatile, and for most, day trading is a quick way to lose a great deal of money. It is difficult to make a great deal of cash in this manner, and it is even more 50