3 Smart Ways To Make Fast Extra Money Online & Why We Need Extra Income
Do We Really Need Extra Income? Then, What Are The Best Ways To Make Fast Extra Money Online Smartly & Safely?
When it comes to Make Fast Extra Money, I always recall Baise Pascal’s saying of “There is enough light for those who only desire to see, and enough obscurity for those who have a contrary disposition“. Pascal is one of the most well known mathematicians of all times.. He described the principle that is the basis for the hydraulic press (called Pascal’s Law). He proved that there was a vacuum above the atmosphere. He is famous for the philosophical theorem known as Pascal’s Wager described in his book Pensees which laid the foundation for the modern theory of probabilities. He produced a lot of famous remarks such as “History would have been different had Cleopatra’s nose been differently shaped“. His words I quoted at the beginning is one of my favourites because it gives wisdom of facing realities, that is the basis of the Reason Why We Need Extra Income, thus we need Smart Ways To Make Fast Extra Money. Remember, the extra money is no longer Better To Have, but Need To Have.
Why Do We Need To Make Fast Extra Money?
So, let’s address to this fundamental question first. Look at the below image (quoted from P.A.P. Blog) indicating the mal-distribution of income. It proves the trend that minority of top position earns more & more while majority of not top position may earn less & less.
In other words, so-called middle class where majority of us belong to is decreasing more and more and many of middle class people are facing the risk of dropping into low life. Nevertheless, you may say “I have a daily job and earn enough money for living. Thus, I don’t need to work more to make fast extra money”.
However, we live in uncertainties which Pascal kept emphasizing in his Pensees. It is like “This is what I see, and what troubles me. I look on all sides, and everywhere I see nothing but obscurity. Nature offers me nothing that is not a matter of doubt and disquiet“.
In this world nothing is certain and we have to accept that fact. In fact, 1 in 7 workers were made redundant during the last financial crisis in the UK. Remember the impact of the recession in the UK was relatively mild among the developed countries. Only 20% of people made redundant could find a new job within 3 months, and 75% of them are paid less in the next job. This is the harsh reality, and economy is cyclical and bubble will burst at any time out of the blue. It means your life is always exposed to the threat of loosing job.
As Leo Tolstoy a Russian master of realistic fiction and is widely considered one of the greatest novelists of all time let Anna Karenina say “All happy families are alike; each unhappy family is unhappy in its own way.”. Unpleasant circumstance comes in various ways.
In any cases, it’s said that you need the contingency savings worth at least 6 month salary. Otherwise you will really feel pinch when unwelcome event actually happens to you. Unless you’re happy-go-lucky person, it’s better to start making fast extra money conveniently e.g. Online as your Safety Net. Yes, Make FAST Extra Money, make it quick while you have a daily job.
Make Fast Extra money As Contingency Plan & Underlying Concepts
We’d better prepare the Contingency Plan through Income Diversity. Income diversity is cultivating more than one source of income. Means Make Fast Extra Money in multiple streams so that you aren’t at the complete mercy of one set of circumstances. This is all about creating your Safety-net. Well, I know, Easier said than done. How To Do It. Different people have different opinion & idea though, the below is my 3 basic underlying concepts to develop it:
1. Don’t bother your time so much
Assuming you have daily job, thus extra income should come from side earning (otherwise it can’t be an Extra income). It should not negatively affect your main-stream work. Whatever you do it will be competing for your time, attention and resources. We have only 24 hours a day, therefore it’s wise to earn from the task of which nature should be either 100% Passive or Semi-passive.
2. Enjoyable and /or Informative
We’re human being and have 2 fundamental desires of Want To Feel Good and Want To Learn. In order to get you constantly motivated and make the task sustainable, the task should be something related with what you are familiar with & like to do eg. hobby / favorite stuff, or something you’re interested & want to know better.
3. Little Correlation with your main income
Income diversification is all about risk aversion, often said as Don’t put all your eggs in one basket. If you work for construction company, don’t try to get extra money from real-estate area such as property dealing company stock. If the economy slowdowns & goes into recession you may loose all. In other words, selecting the opportunity that has no or little Correlations with your other incomes is important from risk management perspective.
3 Smart Ways To Make Fast Extra Money Streams
Having taken all the above 1-3 concepts into account, the following 3 approaches sounds viable:
1) Making the best use of Expertise of Experts
To save your time and increase the chance of success rather than doing everything from scratch on your own
2) Use Forex (Foreign Currency Exchange) Trading
To sharpen your radar on global Political & Economic climate / movements, means increase your knowledge & insights on international affairs as well as improve your financial lieteracy
3) Enjoy Sports Events (Advantage Gambling)
To get more fun & excitement through your favorite sports events
Let me elaborate a bit further. Firstly, 1) concept should apply to 2) Concept. In order to do so, Forex trading should be Passive Trading and you can use Managed Account / PAMM account, Social Network Copy Trading and Software (robot) System. These 3 Methods basically 100% passive income means you don’t have to do trading by yourself but someone will do for you.
For 3) , we use Advantage Gambling or Advantage Play. Sports Betting is one of 6 Advantage Plays we use. As explained in the next section, although it says gambling we Never Gamble. In fact, the above passive trading is not risk free, but most of the advantage plays are basically risk free. Because we don’t rely on chance but count on mathematical advantage. You can find more about these 6 advantage palys, in Advantage Play – Probably Only Surest Method To Beat Bookmakers & Casinos For Anybody;
Generally speaking, both 2) & 3) have very little correlations with other assets class such as Stocks, Bonds, & Commodities and also the income from your daily job unless you work for FX broker or Betting Bookmakers.
Make Fast Extra Money First Concern – Gambling
When it comes to the Advantage Play, whatever I explain, some of you may still say I don’t do gambling. Let me show you 2 examples that prove Advantage Play is Not Gambling;
This method for Sports Betting has been catching on especially in UK / Ireland over the last 10 years. Nearly 300,000 ordinary people are supposed to use this method to make fast extra money on the side. It has been introduced in several established media such as Guardian – Free bets mean you can clean up as bookies meet their match. Very briefly, how it works;
- The organisations you use: Bookmaker such as William Hill & Exchange like Betfair
- The profit source; Bookmaker’s Free Bet Offer such as “Bet £10 Get £20 Free Bet”
- You Do 2 transactions; Back (bet on win) with Free Bet at Bookmaker & Lay (bet on NOT win, means both lose & draw like football match case) with your own money at Exchange so that you cover all the outcomes
- No matter what the event’s result will be, your losing & winning will cancel out each other, so break-even of plus minus 0. In the real practice, usually 2 bets are not perfectly offset due to the odds difference & exchange commission therefore you make a small loss called Qualifying Loss.
- However, the stake you bet at Bookmaker is Free Bet (not your money but free money) therefore it will become your net profit.
- Success factor is how to minimize this qualifying loss in the process, and as explained it is Risk Free.
You may want to see the details in Matched Betting For Dummies – 9 Essential Things You Should Know Before Staking Any Real Money;
Have you heard the name of Patrich Veitch? Patrich is the man most feared by British bookmakers. The Daily Mail as well as The Telegraph reported that Dubbed Enemy Number One. Patrick Veitch went from being a Cambridge University mathematics scholar to the man feared by the bookmakers. He works 80 hours a week on his system and uses a host of agents to put on his money on horse racing. Regularly winning punts of £100,000 including once putting £20,000 on a single horse. He has made and kept a fortune and continues to torment the bookies at every turn. The rewards can be seen in his splendid town house in the north of England, a smart London pad, his own helicopter and his Ferraris. He uses his intelligence and mathematical brain to analyse form and spot holes in bookmakers odds. He commented that horse racing is such a multi-layered conundrum, what you’re looking for is the factor that the bookmakers have got completely wrong. That takes strategic thinking, experience and thoroughness. The fact of the matter is, there is no short cut. The only way to win is through sheer hard work. Unfortunately, Patrick doesn’t produce tips, but there are a few excellent Tipsters who constantly produce Value Bets, not so smart as Patrick though, will help you make fast extra money.
Are We Yet Trying To Gamble?
Many of you will still say Patric is an extremely rare and chosen gifted man. Yes, such a huge win must be rare. However, it’s also the fact that there surely exists a bunch of people (5% or more depending on the categories though) who continuously win and make living it. So, let’s define the “Gamble”. Mr. Naoya Kihara, the first Japanese Professional Porker Champion defines that gamble is Putting Money Into Something With Negative Expected Value. Means taking excessive risk to end up with loss. Poker is not a gamble for Mr. Kihara because he plays only the game of which expected value is positive. That’s exactly the underlying concept of our 6 Advantage Plays. Everything is based on the theory of probability and expectations that is gauged in EV(Expected Value) as I will explain a bit later. Mathematical expectations is a function comprised by two variables of probabilities and their payoffs amount. It tells you how much profit / loss you expect. It is a weighted average approach that involves multiplying each possible outcome in a situation with its probability to arrive at the expected outcome namely a predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence. My bad, it sounds complicated, in fact you don’t have to learn anything about it. Just a simple formula only. Given a random variable X with values x1, x2, x3, . . . xn, and respective probabilities of p1, p2, p3, . . . pn, the expected value of X is given by the formula:
E(X) = x1p1 + x2p2 + x3p3 + . . . + xnpn.
Again, you don’t need to remember these things. The key principle here is whether we take Calculated Risk Taking that brings Sure Long-Term (say average) Profit or Blind (excessive) Risk Taking. We should only risk money on positive mathematical expectancy situations where:
E(X) – Your Risking Money Amount = Plus,
You should not risk money on negative mathematical expectations where E(X) – Your Risking Money Amount = Minus and unknown probabilities. In other words, “minimize risk while maximizing profits” that can be materialized through structured strategies & money management operations.
For this particular point, you may want to read Beat The Bookies By Knowing How Your Enemy Makes Money – Secret Of Odds;
Although I said you don’t need to remember any details, but for you to understand the whole concept, it’s critical to know the EV (Expected Value) that is explained in the above document.
Very beiefly, imagine you find a coin flip game stall in a festival and storekeeper offers you if you win you will receive $10. Then what is the maximum stake you should accept to do this game? Probability of head or tail is 50:50, means your winning probability is also 50:50 that is 50%. Then your E(X) = $10 (if win) x 50% + $0 (if loose) x 50% = $5 Therefore when the stake required is less than $5 like $4 you should do this game but if it is larger than $5 such as $6, then you should not participate in the game. Please be noted it’s possible that you may keep winning over 10 times consecutively under $6 stake based on simple luck, called Variance. But in the long-run say play 100 times, the probability theory surely applies and you will loose, vice versa.
The handful of of constant winners are not gamblers but stick to this principle. When it comes to Sports Betting, the expected value formula can be expressed as:
Expected Value (EV) = (Probability of Wining) x (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet)
For the above coin case, if you stake $6 to participate the game your EV = $5 of E(X) – $6 of Stake = – $1 while if you stake $4 to participate the game your EV = $5 of E(X) – $4 of Stake = + $1.Anyhow, the bottom-line is as long as you bet on Positive EV, namely Value Bet, it is no longer gamble but something you will surely make money in long-term. Proven top Tipstersare the one that constantly identifies and provide you with such Value Bet. So, the key factor of success is how to find good tipster as well as good FX traders / robots.
Not convinced? Still feel risky move? Talk to me to anytime – click the face icon on the right;
Make Fast Extra Money 2nd Concern – Security
As the Internet age, wherever you are, you can access to Forex Market and Sports Events 24 hrs / day worldwide through on-line Forex Brokers and on-line Bookmakers. You can make fast extra money online at your convenient time by using Professionals found on the internet. However, it’s widely believed that over 97% of on-line investment programmes & business opportunities such as network marketing are scams or extremely short-lived due to the poorly constructed business model. So, always resort to your common sense and turn your back on tantalizing promises of Easy Profits and Get Rich Quick advertising words. Let me elaborate a bit further on this security issue because it’s very important.
When it comes to Passive Income, Pooled Fund is one of the most popular investment vehicle. Because any funds in which multiple investors contribute assets and hold them as a group, are classified as pooled fund like mutual fund / unit trust / hedge fund etc. These funds are managed by professional trader, so you don’t need any education & skills to trade for yourself but they do everything for you. However, people are often tricked by Ponzi scheme in Pooled Fund Structure because your money is not under your account but in someone else (trading company etc) account.
On the other hand, Managed Trading Account including PAMM (Percent Allocation Management Module ) is an investment / a trading account which contains a portfolio of securities that is owned by an individual investor. Means you yourself directly own, but are chosen and traded by a hired professional money manager on your behalf (100% Passive). The trading can be managed by human namely discretionary trading, or automated technique such as using robot that can eliminate all emotion. In the Managed account, all your money never leaves from your hand but are kept in your brokerage account under your own name. You grant permission to the experienced traders to access to your account so as to trade on your behalf. But the permissions are limited to trading only and he cannot deposit any extra fund to the account or withdraw from your account.
Let me stress that you are the proprietor of the account (Ponzi Free). Generally speaking, managed account demands at least $100k or more to agree to work only for you. But lately, there are many managed accounts you have the advantage to hire them with smaller amounts – but of course the broker won’t work only for you. However, the new technology of PAMM – Percentage Allocation Management Module provides you with the solution allowing the trader on one trading platform to manage simultaneously unlimited quantity of managed accounts. Trader’s activity results (trades, profit and loss) are allocated between managed accounts according to the ratio. The bottom-line is that the PAAM allows small investors to enjoy the security & return of managed account starting from even $100 or less. So, let me summarize the key characteristics / benefits of Managed Account & PAMM as follows:
- only the owner of the account can deposit and withdraw investment funds at any time
- the owner can revoke the right of the investment manager to trade the account
- the owner may close the account at the end of any trading week
- the owner has real time access to their account and can view all trading activity taking place therein.
More Secured Ways
When it comes to Social Network Copy Trading and Robot Trading (both are auto-trading, so passive income) there is no room where Ponzi scam tricks you. Because you manage your accounts for yourself by using the signals from Experts or Robots which allow you to make auto pilot trading. Never get your money leave your account and never get any others to access your account.
Regarding the Sports Betting, unlike FX trading, there are no 100% passive trading and you yourself are able to bet in your own bookmaker account (manual in general but some sophisticated software will make the whole process easier especially for Sports Arbitrage).
You do it basically without any input from your brain but by just following the instruction you receive for every betting from tipster. Your decision making rests with determining which bet signals to take, thus we describe it Semi-Passive Opportunities.
When it comes to Matched Betting, you can also use excellent system which allows you to save time. Under this system, your money never leaves your hand thus, surely Ponzi Free. For all the Advantage Play, we provide you with the Free Programme which aims to achieve £/€/$50,000 Extra Income Within 2 Years – see the details at the bottom.
Let me stress when you engage in On-Line Money Making Programmes, theoretically it’s better to avoid Pooled Fund given the availability of so many safer choices.
The best part of the approach explained in this article is that you can start building additional income streams by satisfying 3 elements of 1. Maintaining your full-time job, 2. Enjoyable and / or Informative Task, and 3. Little Correlation with your main income.
We all have different preferences and therefore our decisions will vary significantly. Whatever you decide to do, or not to do, your contentment and satisfaction in the end is what truly matters.
Finally, let me quote another Blaise Pascal’s famous word from Pensees, “Man is but a reed, the most feeble thing in nature；but he is a thinking reed.” Yes we can think, so let’s keep thinking and enjoy life more with extra income stream from passive income ideas.