There are infinite ways in which you can earn money on the side these days. You’ve got your job, but you want to make extra money on top of your income. Perhaps you’re saving for a big trip? Or maybe you’re just trying to become more financially stable? Whatever your reason, you’re looking for a new idea to make money.

Most people who search for ways to do this will eventually stumble upon the idea of trading shares. You’ve no doubt heard the many success stories of people who make millions doing this for a living, or just in their spare time for fun. It sounds like an amazing idea, but does it actually work?

That’s the talking point today; can you earn money on the side by trading shares?

To start, let’s look at a few key things you look for in a money-making idea:

• One; it needs to actually work and can’t just be a ‘get rich quick scheme.’
• Two; it has to fit in around your current schedule and not interfere with your work
• Three; it has to bring in regular income, and not just a one-off lump sum payment

Throughout this article, we’ll see if trading shares ticks all three of these boxes and confirms itself as a genuine way for you to make money on the side. So, shall we get started?

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Trading Shares: A Simple Definition

It would be unwise to talk about this topic without understanding what we’re really discussing. Some of you may already know what it means to trade shares, but it won’t do you any harm to learn a little more info.

Essentially, all it refers to is when you buy and sell shares in a company – sometimes called stocks as well. How do you buy shares? Well, you have to wander onto the stock market, and this can be done online by finding a legitimate trading platform. From here, you can deposit money into your trading account, search through the many shares out there, and choose which ones you want to buy.

How do you sell shares? Well, it’s almost the same as buying shares in that you can do it on a trading platform whenever you like. But, there are also ways that are helpful for people selling shares one off. If you’ve inherited some shares or somehow been giving some without actually creating a trading account, then you can sell them on various websites if you don’t want to go through the effort of creating accounts, and so on.

However, if trading is your aim, then you should create an account on a trading platform. It’s also suggested you find yourself a broker to help you out. Trading brokers will monitor the market for you, and pick out certain shares that are worthy of your purchase. They can also advise you when the right time to sell your shares is.

Now you know the basic info, let’s see if this idea ticks all three of those boxes we mentioned earlier:

Does Trading Work Or Is It A Get Rich Quick Scheme?

The first thing to look at is whether or not this is just another scam or scheme set up to take your money. Right away, you can solidly say that no, it isn’t. Trading shares is a legitimate money-making idea that people have been doing for decades. There are entire corporations set up for the sole purpose of doing this for a living.

In theory, it works in that you do have the possibility of making money. The only problem is there’s a massive ‘but’ involved. You can make money, but only if you buy and sell the right shares, or fall into a bit of luck. It’s all about buying low, and selling high; that’s the basic concept involved here. The issue is that it can be easier said than done. A lot of people make a fortune from trading shares, while many others suffer severe losses. This is why experts recommend you hire a broker, but this might not be possible for you as they can be expensive, and you don’t have a great deal of money.

It’s also worth pointing out that although trading shares is definitely not a scheme of any kind, people are looking to make schemes out of it. Be wary of anyone that offers you a chance to make a load of money fast by trading shares with them. There are plenty of dodgy people about that take your money and claim they’ll invest it with their own, and you get a cut of the earnings every day. It’s more than likely a big fat lie.

So, to summarize the first point; does trading work? Technically yes, people have traded shares many times and made money doing so.

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Can You Fit It Into Your Current Schedule?

I know this is a very important point for most people. The whole idea of making money on the side is that you make it while also doing something else. If you have a full-time job, then that takes priority as it guarantees you a monthly income. As such, can you still make money by trading shares without it interfering with your work?

The answer is yes, you can. Trading isn’t something you have to spend every waking second doing, particularly if you have a broker helping you. A lot of trading platforms can be downloaded as apps, and they send notifications through your phone. So, you could have hold of some shares, get notified when their price exceeds a certain limit, quickly take your phone out, and sell for a profit.

Having said that, unless you have a broker monitoring things for you, it is much safer if you commit lots of time to trading. Loads of people choose to do this as their day job, and maybe search for other ways to make money on the side of this. To be clear, you certainly can trade shares successfully while working a full-time job, you just might make more money if you commit most of your time to it.

Again, you can say that trading shares does tick this box as well.

Does It Provide A Regular Source Of Income

It’s all well and good making lump sums of money now and then. Ideas like selling old clothes on eBay are good when you need money right now, but not so much when you have ambitions of saving for the future. Here, you need an idea that generates a regular source of income alongside the income from your existing job. Can trading shares do this?

To answer the question; yes, it well and truly can. In fact, the best thing about this idea is that there are so many different ways you can trade. Some people are day traders that try and make money every single day. This is a very high-risk option, and it’s usually the people who make this their day job that do it. Then, you have weekly traders that aim to make money every week, and then you have monthly traders too. Also, if you wanted to, you could play the long game and buy some shares then hold onto them for months or years and sell them for a big profit.

But, we’re only interested in the regular money making ideas right now. For me, the best idea is trying to make money every month by trading. Why? Because it doesn’t demand your immediate attention every day, and you can still find shares that grow in price over four weeks and can be sold for profits. Doing this can bring in a significant amount of money on top of what you already earn from work.

So, yes, trading shares will definitely provide a regular source of income if you choose to trade that way.

The Conclusion…

You’ve seen the checklist, and trading shares has certainly ticked all three things off. I guess all that’s left to say is that you can earn money on the side by trading shares. However, I want to stress that it’s not a foregone conclusion. Don’t assume you can create an account on a trading platform, invest a bit of money, and watch the money roll in. I highly suggest doing research into the stock market and learning how to spot good deals. This helps you make the right purchases, sell for the right amount, and actually make some good money.

The risky element of trading isn’t the only downside too. The other issue is that you have to spend your money. This might not please a lot of you but think about it as investing in your financial security and stability. If you spend a little bit of your money while trading, you can make it back very quickly if you traded correctly.

To conclude everything; if you are looking to make money on the side, then consider trading as an option for you. Do all the research beforehand, and trade responsibly too.