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How to earn money online in Sri Lanka 100 plus proven and reliable internet-based methods that work

Today, we will see more than 100 plus possible ways to earn or make money online from the internet in Sri Lanka including questions and answers to most of the common questions related to earning money online from home in Sri Lanka or anywhere in the globe.

Some tend to refer to online earning opportunities as passive income methods, but if you learn & do it properly, you can do it full-time, forgetting about other offline methods! So ultimately achieving the dream of online jobs ( from internet) in Sri Lanka.

First, we will go through some of the general questions that you may have, related to Sri Lanka earn online money methods.

Some of the general questions related to earning money in Sri Lanka?

Is earning money online in Sri Lanka real and legitimate?

Is it real? Is it a legitimate way? Is it rightful to say that you can make money online while at home? These are some possible questions that might come to your head if you are very new to the internet or new to the internet money in Sri Lanka. Earning money online is a real, legitimate and reliable way as long as you learn it and do it correctly. Almost all the internet-based revenue-making opportunities require more patience than doing a regular offline job or business.

What are the basic requirements to earn money online?

Device

You will need a computer or laptop in most of these methods. For some ways ( that does not need much work to do ), you can even use a smartphone or tab.

Internet Connection

Then the essential element is to have a stable internet connection. ( Incase if you do not have an internet connection, but you have a smartphone, You can activate hotspot features in your smartphone and use your computer/laptop. Make sure you get a data package to minimise the cost! )

Age

You have to be 18 years or more to do most of the things that we mention here, but you can still do most of these things with the help of your parents. ( One of your parents can register and then you can work under his /her account. Always use parents details to avoid any mishaps ).

Below two requirements are not required immediately to start most of the things but good to have them as soon as possible.

Documents

Some websites tend to ask for identity proof and address proof documents. ( Scan/camera copy of your NIC, Passport or Driving License as identity proof while electricity, water or any approved utility bills as address proof documents )

Accounts to receive / deposit money

Make sure to have a local bank account ( Any bank account with a SWIFT Code. Most popular banks like Sampath, HNB, Commbank, BOC, HSBC, Standard Chartered Bank and NDB do have a swift code ! ).

Create e-wallets like Payoneer, Skrill, Neteller and Paypal to send and receive internet money in Sri Lanka. ( Note: Local PayPal accounts cannot accept payments so that you will need an overseas-based account.)

Qualities you need to make revenue online.

Patience

Patience is one of the essential qualities that you will require to be successful online. I know, most of you do not have this skill. Don’t worry, if you still do not have this quality or lacks patience, follow these essential tips and you will be fine; Make yourself wait, relax and take deep breaths and forget about what others think. Then try a short meditation, if possible.

Work Hard and Never give up Attitude

You have to perform hard and work smart, as well. Also, you may come across challenging times and sometimes minor failures to massive failures as well but never give up.

Reason for saying that is some of these online methods do take some time to make money or to become successful. Failure does not mean you are incapable of doing it; it is just a part of the learning curve. No human being will be successful without failures; failures open up new opportunities and help you to do much better. How many times did Thomas Alva Edison fail before he invented the light bulb? 1000 times! But he was successful at his 1001 or the next attempt. So never give up!

So without any further delay, let’s jump into the list.

Most acceptable ways to earn money online in Sri Lanka

how to earn money online by blogging - tutorial by prathilaba

1. Start your blog

What is a blog website, and what is blogging? Blogging is a popular method where you write articles ( information) and share them online using a blogging platform (e.g. WordPress or Drupal.) or website where users can view that information documented by you regularly and share online.

Will making a blog earn money? Yes, it is one of the proven ways. You can buy a domain name, hosting and then set up a WordPress based blog within a few days and start blogging ( write unique content do not copy/paste ). Then once you have about 50 or more articles with about at least around 6,000 visitors per month, you can apply for ad networks that will help you to make money with your blog.

I strongly suggest you to read “ How to create a successful blog “ article which will provide all the necessary technicalities to set up your money-making WordPress blog website.

You might still have the below questions in your mind, and some quick answers for you provided as well.

How to create ( build ) or how do I start a blog? ( How to create a blog on WordPress? )

You can get a domain and web hosting from A2hosting ( You can get a free https / SSL facility from this provider ), Bluehost ( free SSL / https) or Namecheap.

Then using the step by step instruction in the above article you can start your blog on WordPress platform ( You can use any other platform but this is easier to use. So stick with WordPress. You will thank me later for sure ! ).

You can also buy a super cool low-cost WordPress design from Themeforest to stand out from the rest! WordPress themes available from $13 onwards but make sure to purchase one with a good rating ( Some good wp themes cost about $45-$75) otherwise you will have a hard time using it in future.

How to make money with a simple WordPress blog for beginners?

Once you have enough traffic and articles ( as mentioned above ). You can apply for one of the popular ad networks called Adsense.

How to earn money with Google Adsense? Adsense displays text and image advertisements. So when your visitors view/visit those advertisements, you will make money. ( For god sake, do not click ads on your own, it will ban your account and ad network will not accept you again ). Also, you can try other ad networks too ( refer the blog creating article )

How to write a blog and make money?

Make a blog website using WordPress cms and monetise with Adsense.

How to start writing a blog post?

It is a straightforward thing. Once you set up WordPress, you can create new articles using ‘posts’ sections. Then you can use ‘pages’ section to create various other pages of your website(e.g. about us, contact page, etc..)

How to make a successful blog?

Unique and attractive content will get you more traffic with time ( so patience is needed ! ). More traffic means more chances to make money from your blog.

Some of the worst blunders that I have seen are some people adding copied content, giving up a website after a few months when they don’t see much income. So make sure you don’t make the same blogging mistake as above once.

2. Start Forex trading in Sri Lanka

Forex trading is one of the highest rewarding investments online but equally carries an increased risk. Unlike other earn money online methods, this is something that anyone can start immediately. Get basic forex trading knowledge, learn money management techniques, practice in a risk-free demo account and then finally you can trade in a live trading account. You can use ICMarkets, Tickmill, Deriv or FBS to trade Forex. It is 100% free to try using a demo account!

Here are some useful answers to forex and trading related questions for you;

What exactly is forex trading?

Forex or FX is the short term used for Foreign Exchange Market. Forex trading is the process of buying and selling currencies in Foreign Exchange Market via a Forex Broker.

What is forex trading market?

Any market will have sellers and buyers. So we have one like that in fx trading but more advanced. It is a decentralised market that consists of buyers and sellers of currencies worldwide.

Who is a forex broker?

Forex broker is a service provider that connects traders to the Forex market. Decentralised Forex market is where buy and sell orders take place.

Which online forex broker is best for forex trading?

You can use any regulated and licensed broker with a good reputation. We can recommend ICMarkets, Tickmill and Pepperstone as some of the best fx brokers for you.

Who are the best forex traders or brokers in Sri Lanka?

First, you have to make sure the broker allows your nation, then check if it is regulated and licensed. Also check, if it offers a virtual money account ( or popularly known as demo account ). This way, you can get a better idea about the broker. ICMarkets, Tickmill and Pepperstone are some excellent forex brokers supported for any trader in Sri Lanka. I have created a complete list for you, Check our top forex brokers list!

What do you need to trade Forex?

1 A computer, laptop or at least a smartphone

2 Stable Internet Connection

Which forex trading platform is the best for forex trading?

In forex trading, most forex brokers offer MT4 / MT5 trading platform while some offer cTrader platform as well. Also, some use their unique trading platforms. You can try all these platforms free and choose the most suitable forex trading platform for you.

Tip: MT4 and MT5 are lightweight applications, So easy to use in any popular operating system. You will have to do pip calculations, stop losses, take profits on your own. On the other hand, cTrader is a modern platform that offers automated computation for you. It is easy to use, as well.

Which forex broker has the best and lowest spreads?

If you are going to make trades in shorter time framework’s, then it is always good to use brokers with the lowest spreads. So Currently, the best brokers that offer the lowest forex spread are ICMarkets, Tickmill and FBS.

Who invented forex trading? When did foreign exchange market begin?

Babylonians are said to be the ones who invented forex trading as per history, but around the nineteen seventies only the modern foreign currency exchange market was created.

Can forex trading make you rich or a millionaire?

Let’s see some more exciting questions similar to our above question ;

Can forex trading make you a millionaire?
Yes, but It depends on many factors.

Can forex trading make you rich?
Yes but It depends

Does forex trading make you rich?
Yes but It depends

Can you get rich off Forex?
Yes but It depends

Can you become or get rich from trading forex?
Yes but It depends

Can you get rich from trading forex?
Yes but It depends

Can you get rich with forex trading?
Yes but It depends

Can trading Forex make you rich?
Yes but It depends

Can I be rich with Forex?
Yes but It depends

Can I get rich with forex trade or trading forex?
Yes but It depends

Forex can make you rich or not. It depends as I mentioned above!

So in general, everyone is asking about getting rich with Forex trading right? Good news is that you can earn any amount by trading with forex money management techniques. George Soros, Stanley Druckenmiller, Bill Lipschutz, Michael Marcus, Andrew Kreiger and Paul Tudor Jones are some famous and successful Forex traders. If they can do it, you too should be able to earn and make your dreams come true! The sad news is that a significant number of individuals loses in forex trading. Losses are mainly due to greediness and lack of patience in most cases. So trade wisely, and you can be part of the flourishing trading segment!

What are forex tournaments?

Forex brokers organise online trading events from time to time, or some offer them regularly under various categories. Money, entry tickets ( for premium tournaments) or gifts provided to winners.

Which is the best forex trading course for beginners in Sri Lanka?

You can learn Forex from A-Z using our Forex School for beginners prepared specially for those who are interested in Forex trading.

What are the forex trading market days and hours in Sri Lanka?

You can trade at any time from Monday to Friday ( Saturday and Sunday forex markets are closed ). When it comes to hours, from 1.30 pm to 2.30 am is suitable for trading ( while you are in Sri Lanka ).06.30 pm to 9.30 pm is the best for short trades as both US and UK markets are active. ( all these time factors are based on +5.30GMT time zone and assuming you are in Sri Lanka. So adjust it accordingly, based on your geo zone).

Who is the best mobile phone supported forex trading brokers in Sri Lanka?

You can use any of the brokers in our list ( refer our website Forex > Forex English Articles > Forex Brokers for You ). All those forex brokers are mobile-friendly.

What is forex fx bonus, welcome bonus or no deposit bonus?

Some brokers offer free live account to trade(some terms and conditions apply). You must have already come across or will see the following promotions from time to time.
Forex with no deposit bonus
Forex welcome bonus 2020 or 2021
Forex no deposit bonus without verification
Forex no deposit bonus $100
Forex welcome bonus $30

What are the best free welcome bonus forex brokers?

Currently, FBS bonus 100 (fbs123 or 50 no longer available) and Tickmill no deposit welcome bonus 30 are some of the popular bonus schemes in the forex industry.

Note: Some may not ask for verification of your forex broker account to get the bonus but for your benefit, please kindly have necessary documents with you.

Does ICMarkets or Pepperstone brokers offer no deposit bonus accounts?

Both ICMarkets and Pepperstone do not offer any bonus with no deposit or welcome bonus.

What is the minimum deposit for Forex?

You can start trading with an fx broker as low as $1, but to be honest, you need at least a few hundred dollars guys!

Who are the best forex brokers with a minimum deposit?

FBS - minimum is $1

Tickmill - Minimum is $100

ICMarkets - Minimum is $200

Deriv - Minimum is $5

What makes a profitable forex trader?

Patience, trading practice and sound money management habits will help you to be a profitable forex trader.

What is the best strategy for forex trading?

Below are some of the popular trading ideas. Some will be using a single type, while others will use a combination of many ideas to enter a trade. Therefore adopt a strategy best suited to you.

Support and Resistance based strategies

Simple Price Action strategies

Chart pattern-based strategies

Candlestick based strategies

Fundamentally based strategies

Bottom Line? Forget about what others say and earnings. Start a demo account with a broker from the list here (it is free) and start practising while learning from our website. Then trade in a live forex account. If you come across anything unclear, contact us or place a comment below.

3. Start a Dropshipping business ( Virtually selling products online )

What exactly is meant by dropshipping business, and how does it work? It is a popular method where you can sell products to potential buyers online via your website or a popular marketplace but without actually keeping products with you ( without any stocks with you ). You will be getting the products from a third party ( in this case, from the whole seller ) and that third party will be keeping stocks and sending products to your buyers ( with your details on the item such as business name, name, address etc.. ).

Here is an example to get a better idea ;

Assume you have built a website, and then you have placed several types of watches for sale ( or it can be even a marketplace like eBay ). A visitor comes to your page and buys a wristwatch with a price tag of $20. Now you have got a sale and need to supply the product to the customer. You will go to Aliexpress ( or chosen wholesaler ) and place the order for $12 on behalf of your customer. The wholesaler will send the item to your customer with your details on the product. That’s it..! You get $8 as your profit. Hope now you understood it much better.

You can refer to our ‘ How to make money online with Dropshipping in Sri Lanka ’ to learn more about how you can do dropshipping by using your website easily.

Here are some more possible questions and answers that might help you to get a better idea.

What is a dropshipping store?

Dropshipping store is a products website or marketplace page where you are selling your products to potential buyers. You will be sending the product from the wholesaler, once you receive a dropshipping order from a customer.
What should I dropship?

You can sell any product online via dropshipping. Start with low cost and low-risk products like watches, fancy items and phone accessories, etc..

What is the best product to dropship?

It is better to identify trends and sell products based on that, but in general, the best products are the one with the right profit margin.

What is eBay dropshipping?

eBay dropshipping is when you sell dropshipping products on eBay marketplace. ( some assume dropshipping means only reselling in eBay. It is a wrong assumption. Dropshipping covers a vast segment )

What is dropshipping on Amazon?

Same like above, but you are selling on Amazon marketplace.

So generally, the best way to do dropping is to sell products via your website or eBay.

how to earn money online with youtube - tutorial by prathilaba

4. How to make money on youtube?

Can you earn money from a youtube channel? Yes is the shortest answer. Youtube is the most popular video-sharing platform globally as well as locally with massive traffic across various segments. You will come across sites like Vimeo and Metacafe as well, but the leader in the industry is youtube. Youtube is one of the best ways to make online earnings in Sri Lanka using that traffic. You can create a youtube channel and produce video content ( useful to the public like places, foods, music, etc.. ). Then make revenue using Adsense ( once you reach the minimum criteria ) or sponsor advertisements or merchandise ( sell things like caps, shirts, mugs and bands ).

Here are some answers to earning with youtube related questions;

Is creating a YouTube channel free?

Yes, It is free to create a youtube channel. The only thing you need is a Gmail account, and you can create your youtube channel within a few minutes using your computer or smartphone ( Use the Youtube app in android or iOS ).

How much money or investment do you need to start a YouTube channel?

It is free. So no cost to start a youtube channel wherever you are in the world but to make videos; you need a device ( Camera and Computer or at least a Smartphone ). Most of the newcomers to youtube tend to use their smartphone for a start and then later, invest in professional cameras & other required types of equipment ( noise-cancelling microphones etc.. ).
How much money or profits can you make on youtube?

Zero to unlimited is the shortest answer for you. If you work hard and smart, earning money online with a 'youtube dream' of yours can be a reality, and you can earn a very high income from it ( One person made $26 million in a year. He is the highest-paid YouTuber 2019. So you should be able to earn from youtube too). If you sit and wait, you might not even make a penny from youtube!

How to create a youtube channel and make money?

Create a Gmail account, if you still don't have one. Then sign in to youtube with that account and then create a youtube channel.

Highest paid YouTubers

Ryan Kaji, Dude Perfect, Anastasia Radzinskaya, Rhett and Link, Jeffree Star, Preston, Markiplier, DanTDM and VanossGaming are some of the highest-paid YouTubers according to media reports by Forbes. Ryan Kaji earned $26 million as youtube income. It is the highest youtube earning based on that same report for that year.

How much does youtube pay per view?

It varies based on the type of advertisements shown and your geographical location as well. Typically $1.5 to $20 per every 1000 views is the youtube pay rate. So How much do YouTubers make per view? About $0.0015 to $0.04 per view.

How much money will youtube pays for 1 million views?

Varies a lot depends on your content and audience. Generally, you can make between $500 to $20000 for 1million views. For example; according to Youtuber 'Shelby Church', she made only about $1200 from a video with 3.9million views, while $40,000 from a video with 2million views. Therefore the earning potential for each video can vary significantly.

How much does a youtube channel with 1 million subscribers make?

Youtube pays for views, not subscribers. So as long as you possess an active subscriber base, it will immensely help you to get more visitors and ultimately more revenue.

How much does 10000 views on youtube pay?

About $15 to $200 but you can make more with sponsor advertisements.

How do YouTubers get paid or how does youtube send you money?

You can choose a payment method in Adsense to receive youtube earnings once you reach $100 or more. You can get your payment via bank transfer in Sri Lanka or anywhere you are residing at the moment.

Bottom line? Forget about earnings, choose a niche and do quality videos. You will be able to make revenue gradually.

5. Earn money by watching or clicking ads or doing a task - GPT and PTC websites - Sri Lanka

You can join a GPT or PTC website to earn money while at home.

What is a GPT website?

GPT stands for 'get-paid-to'. Some websites pay you for doing various activities such as paid surveys, videos to watch, ads to watch and join trials.

What is a PTC website?

PTC stands for 'paid-to-click'. Some websites pay you for watching advertisements.

GPT and PTC sites are the same or different things?

Two different things but most of the gpt websites also include paid to click advertisements and vice-versa.

List of popular GPT and PTC websites for you.

Neobux

It is offering PTC services since 2008. It is one of the oldest, established and genuine PTC websites that pay. NeoDev Lda company in Portugal owns it. You can make revenue by watching and clicking ads on sites like neobux using a desktop or laptop computer ( Neobux still does not support mobile ad viewing ). Also paid surveys, mini-jobs and mini-games available on the platform to make revenue but it is not easy to get the latter stuff that much as long as you are in an Asian country like ours.

Minimum payout is two dollars, and you can use Skrill, Neteller and a few other methods to receive your earnings.

Swagbucks

The Swagbucks owner is Prodege. A California based marketing company and a very famous company in the USA. Swagbucks offer gpt type earning methods since 2008. You can make points ( called SB ) by doing tasks, cashback offers, surveys and similar activities. Then you can convert the SB's to dollars and get via Paypal ( The minimum withdrawal amount is $10 ) or redeem as Amazon gift vouchers.

The good thing is Swagbucks offers an android and iOS app. So you can use it while even coming to your office!

ySense (ClixSense)

Formerly known as ClixSense and providing services since 2007. Prodege acquired it in 2019 and rebranded as ySense. You can start earning money by doing online surveys with ySense. Also, you can make by registering with websites, downloading mobile apps, testing products/services, watching promotions and completing tasks. Availability of activities for all these depends on your geographical location. If you are residing in Asia or Africa, you may not have many offers.

Minimum withdrawal amount in ySense is ten dollars and payment made to your PayPal account. Still, ySense does not offer a mobile survey app for Android or iOS devices yet.

PrizeRebel

PrizeRebel is a combination of both PTC and GPT models and offering services since 2007. iAngelic company in the USA owns PrizeRebel.

Can I trust any PTC or GPT website?

Be careful of PTC sites that popup suddenly as most of those websites vanish after some time (both locally and internationally).

Is it worth doing paid to click / PTC?

You can make some extra cash but not that much unless you can build a strong downline/group. Paid to click is just a minor income-generating mode.

Why am I not receiving to get any surveys?

Like I said on neobux platform, most of the survey sites do not have many offers for the Asian or African market. So mainly what you can do is click ads or use cashback offers and build a strong downline with most of these GPT/PTC platforms to make a revenue.

Bottom line? Paid to click method sounds more comfortable to do right? But the amount of revenue you can make is realistically low. So probably use this as a last resort, if you are unable to do any of the other methods mentioned in the list.

6. Cash making apps - Get paid to apps

You can do simple tasks in certain apps and make an extra income. Rakuten, Swagbucks and Money App – Cash & Rewards App are some popular apps of that nature. Give it a try and see.

7. Sell Photos

You can sell stock photos taken by you on sites like Shutterstock ( One of the best stock photography selling websites ) and make revenue. They pay you for each purchase made by Shutterstock buyers. You can refer to the Shutterstock photo and image tutorial for more information on our website and start a photography business today itself.

What are the best sites to sell stock photos?

Shutterstock is the best. You can also try other sites like iStock Photo, Fotolia, Dreamstime, Getty Images, Stocksy,123RF, BigStock and Crestock.

Can I upload the same photo in different stock photography sites?

You can do it but make sure to read the terms and conditions of each stock photography platform as some may have certain restrictions. For example, if you tick the 'exclusive' option in a site means you can not sell it elsewhere.

8. Sell Coded Scripts

Are you good at creating scripts? Then you can create website scripts and sell them on websites like Codecanyon, ThemeForest and even on your website.

Be sure to adhere to all the guidelines in each script selling platform and prepare all the documentation before submitting and make sure you are not copying an existing script; otherwise, your project may get rejected on submission. Also, you can provide support as a subscription and make a regular income too.

9. Invest and trade in Colombo Stock Exchange or the Sri Lankan Stock Market

You can use Colombo stock exchange to make online trading in Sri Lanka that will help you to acquire revenue while at home.

What is stock trading in Sri Lanka?

Buying and selling of listed local companies shares online using the share market in Sri Lanka.

How to trade stocks in Sri Lanka?

You can start it by choosing any of the Colombo stock exchange ( share market ) brokers that will provide an online trading platform. Also, you have to open a CDS account ( your broker will guide you).

How to find Colombo stock exchange-listed companies?

You can use the Colombo stock exchange official website to go through the listed public companies in Sri Lanka. Here you can learn more about every local company too before investing in them.

How to find Sri Lanka stock market brokers or CSE share brokers in Sri Lanka?

You can use CSE official broker list to choose a share market brokerage company in Sri Lanka or refer the Colombo stock exchange brokers list below;

Bartleet Religare Securities, Asia Securities, NDB Securities, Acuity Stockbrokers, John Keells Stock Brokers, Asha Securities Limited, Assetline Securities, Somerville Stockbrokers, J B Securities, Lanka Securities, Capital Trust Securities, S C Securities, CT CLSA Securities, First Capital Equities and Nation Lanka Equities. Choose a Sri Lankan stock market broker with a low minimum deposit and good customer care.

How exactly do you make money in the Sri Lankan stock market or when do you earn money from stocks in Sri Lanka?

You can make revenue by capital gains or as dividends.

Capital gains; When a share that you bought rises in value, you can sell it and make a profit. Example: say you bought a Sampath bank share for Rs 128 and by next year it rises to Rs 160. The difference of Rs 32 will be the capital gain and your earnings.

Dividends; When a company makes profits, and if they can pay the shareholders too from that profits, they will make a payment quarterly or annually. For example, Dilmah Ceylon Tea Company PLC paid Rs20 per share in 2020. So if you own 1500 shares, you will be making Rs30,000 as income ( 1500 x Rs 20 ).

How much do I have to invest in trading in the Sri Lanka share market?

You will need to deposit at least Rs50,000 to Rs100,000 to use the online trading facility to buy and sell stocks. If you are looking for trading without that online facility, you can even start with Rs 1000. So which method is best? The online system. So always go for the online-based system, and you will thank me later!
( Note: Heard some brokerage firm seems to be asking at least 1million as the initial investment. You do not need that much as a newbie if you are with small capital. Probably those firms are not interested in small players. To trade using a broker that allows you to deal with about Rs50k - 100k.)

Can I lose money in the Sri Lankan stock market?

When it comes to trading, losing is also part of the learning cycle. So to profit, you have to minimise the losses and make more winning trades. Also, be sure that you are good at analysing companies and charts before jumping into the Sri Lanka stock market. Example of losing money in stock trading; Say you bought a share for Rs200, but you are selling it for Rs100 ( as the market is going down or you are in an urgent need of money). You lose Rs100 for each of that share.

Is Stock Market trading a high-risk investment?

It can be classified as a high-risk investment as high price movement can result in loss of your asset value ( in this case stock value ) and may take many years to recover in some instances ( or you will have to sell with a loss ). So basically, you have to understand this scenario and trade with an excellent understanding to make profits while minimising the losses.

Is forex trading better than stock market trading?

With forex trading, you can make profits much easier than stocks ( using proper money management methods and careful analysis of asset charts ) as prices move in both directions in many assets regularly. Also, you can make good revenue with small as $200 - $1000 investment in forex trading. When it comes to the Sri Lanka stock market, making good profits from buying and selling stocks is not that easier with a small investment ( that you can risk ) and less knowledge of local companies most of the time.

If you can wait for a lengthy period ( hoping for the best ), stock market trading is also not bad. ( Note; Do not invest money that you cannot afford to lose in stocks, trading or any business. Because any investment or business carries a very high risk though they open the path for immense profits for you. )

10. Earn money by writing - Become a content writer

You can make money by writing articles online from home. High-quality content writing in Sri Lanka is one of the popular methods and carries a high demand as well. You will have a good opportunity If you are good at unique and creative content writing in areas such as technology, healthcare, travel, tourism, modern agriculture and day to day things anywhere in the world.

Here are some useful questions and answers related to your writing industry which may be helpful for you.

How to make money writing a blog online from home?

As you are good at content writing, you can start your blog ( A website with useful information ) and monetise it with ad networks or sponsored content. Also, you can add an online store to maximise your income from the blog website.

How to make money as a freelance writer?

You can find various freelance content writing jobs online in Sri Lanka or any country. Just contact some of the popular websites/companies that may give you a chance to earn money by writing articles for blogs, product reviews ( Amazon, eBay), stories, fiction, poems and, essays, assignments and thesis online. ( Verify your grammar and sentence structure are impeccable as most reputable businesses will be interested only in high-quality content writing services ).

How can I contact these websites or companies?

You can introduce yourself via email and ask if they have any content writing opportunities. - Don’t add any links or attachments in your first email. If they are interested, they will ask. Then in your next email, send the links or documents for reference.

Another way is to have a website, social media pages and classified advertisements to reach potential customers. Joining freelance websites like Fiverr, freelancer, and Upwork ( formerly known as odesk ) marketplaces will help to find content writing offers as well. The only drawback in marketplaces, as mentioned earlier, will be the high competition, as you will have to bid to get any writing orders.

11. Resume and cover letter writing in Sri Lanka

Some find it hard to create a resume and cover letter when applying for jobs. So you offer cv writing services online in Sri Lanka and make a good income.

12. Make online assignments ( or presentations ) and earn money

If you are good at presentation, assignment or thesis preparation, you can help those who are struggling to make them and make an extra income while at home. Earning money doing contented based projects online is a trending thing among good unique content writers worldwide.

How to find online assignment customers via websites to earn money?

You can post an advertisement in popular classified websites ( in Sri Lanka or overseas ), and using them you can get potential customers. So then you can earn money by completing their assignments or presentations or thesis.

13.  Join Online Contests or Tournaments

Most of the popular website’s offer various contests and tournaments from time to time. You can use these opportunities to make extra income. Example: forex tournaments, logo contests or photo contests.

14. Become a freelance web designer

You can do website design at home. You can get projects from freelance websites such as Upwork or Fiverr.

15. Become a SEO professional

If you are good at SEO or search engine optimisation techniques, then you can offer your services online. Online business will love to get your SEO services if you have the necessary skills to help their business in search engine rankings.

16. Become a SEM professional

You can offer search engine marketing services to make online income. Learn the skills in online sem advertising, and you can make it a profitable business.

17. Become a Video Maker and an Editor

Well, making videos is not an easy job like the things we mentioned earlier. You will need a pc with requirements to run video making professional applications such as Adobe premiere and after effects etc. You can start an online video production service if you have a video editor compatible computer and you are extremely good at making videos. Make sure to have an attractive video portfolio to show to the customers as well.

18. Make Whiteboard & Animated Explainers

You can make Whiteboard & Animated Explainers to online businesses and get income just like the above method.

19. Make Video Reviews

You can make video reviews for products, services or companies.

20. Make Voiceover

If you have a clear voice and good with your language, then you can offer voiceover service online.

21. Become a songwriter

If you are good at composing songs, then you can find potential customers using websites like Fiverr or music-related websites.

22. Provide Astrology services online

If you have the skills to read horoscopes and related things, you can do it online.

23. Become a Virtual Assistant

You can become a virtual assistant while at home if you are good at things like computer-related stuff or any help you can provide virtually. Let me give you some examples.

Someone may need help when using a smartphone for the first time, using an app for the first time or printer not working due to a spooler problem. In all these case, you can help virtually.

24. Provide data entry services

You can offer data entry services via freelance websites and also get data entry work from other websites that offer such work. For Example, a company that has a hard copy of a document may need a softcopy readable through Microsoft office.

25. Provide Software Support

If you are good with popular software applications ( desktop and online ), you can provide support online using various applications like Skype or Teamviewer.

26. Become a logo designer

Suppose you are good at creating simple to more complex creative logos. You can get projects from leading freelance websites or from companies. Be sure to have a portfolio of your logos (If you do not have anything to show, create a few samples to showcase!)

27. Start a graphic design business

Any business will require loads of design work as promotional materials. You will be able to provide graphic design online using your website or by joining web portals that offer design work that you can bid and take. Examples of such sites are Fiverr, Upwork and Freelancer.

28. Sell Vector Arts and Drawings

You can sell vector images on sites like graphicriver or Shutterstock. Make sure you follow the guidelines in each portal before submission.

29. Sell 3D Models online - Earn money online for 3D artists

If you are an experienced 3d modelling artist ( Don’t get confused with modelling! This is about making 3d designs using an application such as 3d Max and Maya), you can sell your 3d work online in sites like cgtrader. Just make sure what you submit is your work, not the work of others.

30. Start a web hosting business in Sri Lanka

If you have the basic knowledge of Cpanel based hosting accounts and ability to troubleshoot minor web hosting matters ( for severe issues, you can get help from your upstream web hosting provider), then this is for you. You can start your online website hosting business by using a reseller hosting account. Get a reseller hosting account from a reliable web hosting company like A2Hosting, then sell it to your customers with a profit by creating multiple Cpanel accounts in that reseller.

What is a reseller web hosting account?

Same like a basic cPanel hosting account but you get a few extra features such as WHM( web hosting monitor application with your hosting account ). WHM is an application used to create hosting packages, multiple Cpanel accounts, and then sell web hosting packages online to your customers.

Can I automate my reseller web hosting business?

You can use a premium billing application such as WHMCS ( this is the best as most people are well aware of it than any other web hosting billing software ) or Blesta to automate your reseller web hosting business.

What are the responsibilities I will have as a web hosting provider?

As long as you get a good reseller account from the companies mentioned above, you will get good customer support from them. So if you come across any significant issue from your customers, you can get help from your upstream server provider ( Please do not misuse it).

Also, get familiar with basic things in web hosting and web hosting related issues ( Example; DNS related issues, error codes and SSL certificate installations ) to provide better customer care. Unlike other industries, if you provide unstable servers and poor customer service, they will migrate to a different host as this is a competitive industry.

31. Buy and Sell social media accounts

Some companies are looking for social media accounts for their promotional activities. You can buy and sell your business accounts using social media groups or classified advertising websites in Sri Lanka or overseas.

32. Sell social media business pages

Same as above, businesses are looking for social media pages with an excellent fan base. You can sell fan pages and make revenue too.

33. Sell social media groups

Do you have a social media group with a huge fan base or groups with a decent number of enthusiastic fans, but you do not have time to manage it? Then you can sell it for someone interested in it and lucrative income.

34. Sell mobile game accounts

You can sell mobile gaming accounts too. You can sell it using various platforms. Optionally you can sell it using the connections ( friends) that you make in the game as well because some will be on the lookout for a second or third account or probably an account for his brother or sister! ( Tip: Most of the time this works with strategy type games like Clash of Clans, Vikings, Clash Royale, Rise of Kingdoms, etc.)

35. Become a social media manager

Are you familiar with all major social media networks and marketing channels in them? Then this is for you. You can check with companies directly and look for opportunities. Some times you can do this on a part-time basis or full-time basis at home as well.

36. Make a coupon or discount website

You can discuss with other online stores and acquire unique coupon codes for your website where you will get a commission for referred potential customers. Coupon ideas are suitable for someone with good marketing skills. Example of a popular coupon website is RetailMeNot.

37. Start an online news website

You can start an online news website ( same way like doing a blog but with a bit of layout adjustment ) and build traffic using social media. Then you can either use an ad network ( refer blog writing section for more details ) or get advertisements from local companies.

38. Start an online gossip website

Same like a news website, you can start a gossip website and make revenue using various ad networks.

39. Start an online radio channel

You can start an online radio and stream it using social media. You can earn by promoting businesses and products quickly. (Tip: Make sure to build the right audience before looking for potential advertisements.). Interact with your fans regularly to make a better fan base.

40. Start an online tv channel

You can start an online tv channel using various streaming software. It is way less expensive than running a normal tv channel. You can stream your tv channel using social media or your website. Same like with radio, interaction with your visitors is essential to build a strong fan base. Then you can get earnings the same way as in an online radio channel.
( Note: Make sure, if your geo zone requires any license to operate an online channel for both tv and radio )

start an online store in sri lanka or bring your shop online

41. Start an eCommerce Store ( Online Shop / Store ) or Take your shop online

You can start an online shopping store using platforms like WordPress, Shopify or similar media and start selling online targeting Sri Lanka or any geo zone of your choice. It is better to get it created from an experienced web designer ( You can get it done for about Rs50,000 to Rs 200,000 from a good designer ) when building your shopping store.

How can I get payments from customers using an online store?

You can use bank deposits, payhere ( Popular online payment gateway among small businesses in Sri Lanka ) or any bank gateway. Bank gateways may require you to have a registered limited liability company So you can use a payhere gateway as an alternative. You need only a sole proprietorship registration ).

You can use Paypal service as long as you can receive money to your Paypal account. Also, you can use ezcash, mcash as well as cash on delivery or cash on pickup ( latter if you have a physical location).

How can I deliver goods to customers?

It is an easy thing. You can do any of the latest techniques below or a combination of all these methods.

a) Send the goods via EMS Post via your local post office ( this is cheaper, and some say delivery is also faster in most areas )

b) Send the goods via a local courier service company. Pronto, PromptXP, Domex, Certis Lanka and Citipak are some popular courier companies. All these courier companies have both positive and negative reviews. So choose the best one in your area ). If you are planning to send the goods overseas, you can use DHL, TNT or ups.

c) If you have a bike, trishaw or a vehicle with good fuel consumption, you can deliver around your area to reduce expenses as well ( long-distance once you can send via ems or courier )

d) You can use ‘pick up from the shop’ facility, so customers can come to your place and collect the item. So no additional cost for customers as well.

42. Start a multi-vendor store ( Business to the Business marketplace )

You can create a platform for buyers and sellers. Aliexpress and eBay are some popular multi-vendor platforms globally, while Daraz is an example that operates locally.

How can I create a multi-vendor store?

Best would be to use a coded script from scratch using modern coding languages and techniques or use a multi-vendor ready-made script like CS-Cart.

Can I use WordPress or Joomla to create a multi-vendor store?

You can use any cms platform like WordPress or Joomla, but these platforms will not be the best for a multi-vendor store as they are not explicitly for such stores.

Can I use Magento, Shopify, Opencart or BigCommerce to create a multi-vendor store?

These eCommerce platforms are ideal to start your online store but not that suitable for a project like business to business platform.

What sort of a hosting web account do I need for a multi-vendor store website?

Mind you; this needs a lot of effort and adequate capital to invest in things like servers, unlike shopping stores or websites. The reason is web-based systems of this nature require loads of resources when traffic grows. So shared hosting or basic reseller hosting won’t be enough. You will need a high-end VPS or dedicated server for the multi-vendor store.

43. Become an online vehicle broker

You can act as the middleman between sellers and buyers of brand new or used vehicles. You can do it during your free/spare time too but make sure you know about the cars, or you will have a hard time with both parties!

44. Become an online property broker

You can become an online property broker in Sri Lanka ( If you are in a different country, check whether you need a license to become a property broker. Some of the countries do not allow you to do it unless you have a permit to operate as a real-estate broker ).

What you can do is find properties for sale and property owners willing to offer you commission for a successful sale. Next thing to do is to post an advertisement.

You can sell online using premium and free classified advertisements websites in Sri Lanka. Ikman.lk, hitad.lk, lankapropertyweb.com, weladama.com, Sambole.lk etc. in Sri Lanka while you can use sites like gumtree in the UK and Australia ).

45. Sell unwanted items at home

Is there anything that you didn’t use for a more extended period? Say for the last 5-10 years? You can sell them using classified websites or social media online to make money. Then probably can buy something useful to you with that.

46. Sell email databases or email lists

You can collect emails using legitimate ways and then sell them to companies looking for email databases. Why do companies need email databases? Any company that depends on customers from the general public will love to have contact details so that they can promote their product or service.

( If you are residing in a country with strict data protection rules and regulations, please kindly check them before doing anything of this nature. Example; Europe)

47. Review of Mobile Apps

You can review apps and make revenue. First, contact some of the app developers, and you will be able to find such opportunities. Make sure you test the app properly; otherwise, it will harm your profile, if the app does not work as stated by you.

48. Write website reviews

Some websites would like to have reviews on specific platforms. So you can grab this opportunity to make extra revenue.

49. Become a game tester

If you are very much addicted to games, this might help you to make some extra bucks at home. How can I find game testing opportunities? You can inquire from desktop or mobile smartphone game making companies, check game developers websites or social media pages.

50. Become a mobile app tester

If you are good at finding errors/bugs in mobile apps and have skills in checking the usability of an app even by a non-specialist, then you can turn your talent into money. Contact famous app makers and look for any app testing tasks.

51. Become a website or web system tester

Same like games or apps testing. Check with website development companies for opportunities.

52. Buy and Sell Domain Names

You can buy and sell domains using Flippa or even use domain registrars ( using a parked page and adding your offer to that domain that you are going to sell ).

How to make money or revenue online by selling website names or domain names?

Say you buy a domain name for 12 dollars. Then you sell it for 30 dollars. You make 18 dollars as your profit margin. Above is just a simple specimen for you.

Below are some of the most expensive domain names ever sold on this planet!

business.com – 345 Million Dollars ( 2007)
insurance.com – 35.6 Million Dollars ( 2010)
voice.com - 30 Million Dollars ( 2019)
insure.com – 16 Million Dollars ( 2009 )
360.com – 17 Million Dollars ( 2015 )
internet.com – 18 Million Dollars ( 2009 )

Why do people buy domains for such a huge price?

Various factors affect it. Shorter and common names are generally expensive even at registrars, For example, two-letter .lk domains cost Rs 25,000, and three-letter domains cost Rs 10,000. In contrast, four-letter and above domains are only Rs 3000 to 5000.

Also, the shorter names are straightforward to brand, market and remember, unlike longer website names. So more concise formats are the once ideal for earning money by selling domains online.

53. Buy and Sell Websites, Blogs or eCommerce Stores - Sell your blog online for millions

You can create a blog website, build quality traffic and then you can sell for a higher price. For example, TechCrunch blog founded in 2005 sold for $30 million in 2010. Another example, Livejournal founded in 1999, Sold for $25 million in 2007.

You can also create a customer-based business website ( A site that provides a service or sells products online ), get loads of customers and then sell for someone interested in acquiring your business. For example, Site5 web hosting service provider sold for $36 million.

Also, you can buy potential websites, blogs or eCommerce websites and then sell it later on with profit. For example, some local online stores acquired by popular companies sold them later for reasonable offers.

How to sell a website online or on flippa?

How to sell your website online? How to sell my website? You can sell your website on flippa same like domains. Also, you can sell it directly by yourself using advertising media.

What are the biggest and popular website sales(acquisitions)?

Here are some of the famous and most prominent online website sales.

LinkedIn by Microsoft ( $26.2Billion - 2016 )
YouTube by Google ( $1.65Billion - 2006 )
Geocities by Yahoo ( $3.6 Billion - 1999 )
Tumblr by Yahoo ($1.1Billion - 2013)
Bluehost by EIG( Unknown - 2010)
Hostgator by EIG ( $225million - 2012)

So you can do it too! Build a good brand and sell it for a fair offer when the right time comes! Also, you can act as a broker between a website owner and an exciting party in acquiring the website, which will give you some good money online.

54. Create, Buy and Sell Apps

You can create apps and monetise with ad networks similar to a website. Also, you can add in-app-purchases to make further revenue. Example, To speed up a castle upgrade in a game app, you can offer speed boosts for a few extra dollars. Most of the strategy type games are making millions using in-app purchases. One of the significant expenses with these games is the high cost of high-speed game servers to minimise games getting slower. It will help if you purchase good servers to prevent lagging in games.

How to sell your app online?

Same like a website, you can buy and sell smartphone apps & browser-based apps using flippa or other online methods. Some possible app-related questions.

How to sell an app idea online?

How to sell a unique app idea to Apple, Google, Facebook or any Company? You can contact these popular companies or any other company. If these organisations are interested in your concept, they may purchase it from you or invest for your app as well.

Just don’t contact those parties with ideas that are already existing as it will be a wastage of valuable time for you as well as companies. Come up with something unique and useful for the society that can help the company to profit ( or gain the upper hand over its competitors) as well. For example, Instagram was not making revenue when Facebook bought it in 2012, but they acquired it to have the upper hand over its competitors.

55. Become an online business consultant

If you have years of experience and knowledge in a particular field related to business and management, you can provide professional guidance and advice. For whom to offer my services? To individuals and companies that need it online as a consultant in Sri Lanka.

You can even set up your own business or management consulting firms in Sri Lanka and offer consultancy services in Sri Lanka. Consultancy is ideal for someone with years of experience at top management in any established private company or government organisation.

Is it possible to join consultancy companies in Sri Lanka or overseas to work from home on a part-time basis?

It depends on the firm and your degree of expertise. Say you have 15+ years of experience, and a successful individual in that particular field, any business consultancy firm in Sri Lanka or overseas will love to have you with their team at least on a part-time basis. So feel free to contact local and overseas consultancy firms via their websites for consultancy opportunities.

56. Write and sell a book online

If you are good at writing a book related to any field, this is for you. Write it and then sell your hard copy online using your website, social media, Amazon,eBay and classified websites. You can deliver it using courier services or government postal service.

57. Write and sell a monthly based magazine

You can write a magazine similar to making a book. Then sell online.

58. Write and sell an ebook

Rather than printing books and delivering, you can make soft copies. Then sell the soft copies, same like selling a hard copy online.

(You can offer an instant download facility as well. So the client will be able to get access to the book instantly as well.)

59. Write and sell an eMagazine

Same like an ebook, you can make an eMagazine with a monthly subscription or per copy basis payment method. Promote same way like ebooks.

60. Become an IT Consultant

Same like a business consultant, you can become an IT consultant online. Generally, you can offer services in various categories under IT (example; Database)

61. Become an Online Marketing Consultant

Many people struggle when it comes to marketing, so if you are good at marketing. Online marketing is for you.

62. Become a lead and sales generating guy

Teaching marketing to someone is not that hard ( as long as you know the subject very well) but getting him genuine leads and sales is fantastic, right? If you are good at lead generating and them converting most of them to sales. Then you can offer this service online on a part-time or full-time basis.

63. Find a remote, part-time or fulltime job

You can get jobs that allow you to work remotely.

Remote jobs are one of the hardest things to find because of the high competition but give it a try. Here are some job sites that you can use to find potential remote jobs; Flexjobs, We Work Remotely, Solidgigs, remoteok.io, Remote.co, Virtual Locations,PowerToFly,Staff.com, Working Nomads, Jobspresso, Europeremotely, Jobscribe,wfh.io, Outsourcely, Indeed, Idealist, The Muse, Authentic Jobs and Landing. Jobs are some websites to get a remote job. Also, you can use local portals like topjobs.lk,ikman.lk,cv.lk,hitad.lk,siyalla.lk, weladama.com, etc. to find job opportunities ( remote jobs will be scarce in local portals )

64. Become an online teacher

Are you good at teaching languages such as English, Sinhala, Tamil, French, Korean or Japanese? or subjects like Maths, Chemistry, Physics, Biology, Business Management, Accountancy, Economics, Religion, History or Geography? Then you can join popular teaching portals or start providing online teaching via your website. ( You can use free classified portals and social media to get leads as well )

65. Online Tuition for School Kids

If you are fond of teaching for kids, you can offer tuition for school kids online.

66. Make Podcasts

You can make and submit podcasts to popular podcasts website and earn revenue using ad system on those websites. Also, you can make revenue by creating podcasts for others.

67. Start a business with crowdfunding

If you have some unique idea or something useful to society, you can make a project plan and then raise funds using popular crowdfunding platforms online. You can try popular crowdfunding websites like Kickstarter or Indiegogo. Then once you have reached your crowdfunding goal, you can make money with your business.

68. Sell Food Recipe

If you are good at making a unique, tasty recipe, then you can sell the formula to food-related websites, YouTubers looking for new and unique food recipes.

69. Sell Documentaries to Online Channels or Youtubers

Are you a guy that makes unique documentaries or you are good at making them? Then you can sell them to online media channels or YouTubers.

70. Sell Your Research Online

If you have done some unique and useful research, you will be able to sell it to various parties online.

How to earn money from internet by selling food online - tutorial by prathilaba

71. Sell Home Made Foods Online

Selling foods is something that someone loves to cook can do (Ideal for those who are at home, good at making tasty dishes!).

How can I do a home-based food business online?

a) Identify what you can prepare ( main dishes, short-eats, sweet or food for events), the area you can cover and then start it small.
b) Setup social media pages ( preferably Facebook and Twitter) and include the products you are going to sell. Build an audience step by step and promote it.
c) You can deliver the foods to potential customers in the following ways quickly; Using your vehicle or using a trishaw guy. If you are around areas covered by uber eats app, you can join the uber eats, and they will deliver it for your customers(customers that come through uber eats app)
d) Once you get some customers, get a business registration and also upgrade your business by building a professional website ( you can get it done for about Rs20,000 - Rs50,000 from a web designer in Sri Lanka)

( Please follow acceptable standards of food hygiene. Also, follow guidelines from PHI in your area. If you are in an overseas country, please follow the guidelines in your country as some nations have strict rules when it comes to food hygiene. )

72. Become an Influencer on Instagram and Facebook

You can become an influencer on popular social media and build an active fan base.  Companies will happily give you paid content to post as many companies (both locally and internationally) looking for ways to get leads.

73. Make revenue by renting your home or room on Airbnb

You can make revenue by renting your property using Airbnb booking portal

74. Shortening the URL

You can use shortening URL websites below to earn income.

a) adf.ly

b) shorte.st

c) shrinkme.io

d) ouo.io

e) linksly.com

f) Shortzon

Shorten the URL and start sharing ( Please read guidelines on each website. For Example, shrinkme and shortzon do not allow Facebook or WhatsApp traffic. ). The process may not generate a significant amount. Still, you can make some money with URL shortener sites.

How do I get paid from URL Shortening websites?

Paypal and Payoneer are the primary payment methods. Also, some offer bank transfer, Skrill and WebMoney as well.

75. Sell Teaching Materials to teachers

You can prepare and sell teaching materials on sites like teacherspayteachers.com

sell insurance online - tutorial by prathilaba

76. Sell Insurance Online

You can sell insurance packages online for both individuals and corporate businesses.

77. Provide Investment Advice

If you are good at providing investment advice, then you can offer financial advice online for a premium fee.

78. Provide Financial Loans

You can offer loans online using your web system or a combination of the manual-automated method. Already few companies in Sri Lanka offers quick loans in this way ( You may need a registration to in most geo zones )

79. Become a Yoga Teacher

You can teach Yoga online to those who are interested in Yoga.

80. Become a Spiritual teacher

You can offer spiritual teaching for those who are looking for one to one spiritual teaching.

81. Affiliate Marketing

If you are good at online promotional activities, you can promote affiliate products like Clickbank ( Make sure to get Click Bank University access so that you will learn the process from A to Z ). Make sure to follow all the instruction provided and strictly adhere to them.

82. Provide Dating Consultancy

Dating consultancy may sound a bit crazy, but to be honest, some individuals may need help when it comes to dating. So if you are good at it, this is for you.

83. Provide Wedding Consultancy

You can offer wedding consultancy online for those who are planning to have a wedding soon. You can use your website or use any third-party platform as well.

84. Provide Marriage Consultancy

Same like above, you can provide advice to newly married couples or couples that are having various kind of issues where they need advice from a professional.

85. Become a guest blogger

You can write professional content in English for other websites to make a revenue as some sites are willing to pay for quality unique content.  For Example, you can try Listverse. You can submit 10 item lists, and if approved, they will pay you $100 via Paypal. You can also try Write For IL, Fundsforwriters, Write for ALA, CopyBlogger and Medium. Make sure you do not abuse these websites; only submit your unique content.

86. Provide Translations Services

You can provide language translation services which have a very high demand worldwide.

87. Become a Proof Reader

You can provide editing and proofreading documents.

88. Make a dating platform

You can make a dating platform and make earning using a subscription-based model.

89. Sell Antiques Online

You can sell valuable antiques online using your website or classified platforms.

90. Sell Old Coins Online

Some ancient coins have high demand, So identify them, and you can sell on popular platforms like eBay.

91. Make a file-sharing website

You can make a file-sharing website ( as long as you can afford to invest for high-end servers). Then you can offer a premium package, subscription-based model or use third party advertisements to make an income.

92. Make a video-sharing website

Same like the above method, you can make a video sharing portal.

93. Make a file converting website

Same like the file sharing, you can make a file converting website.

94. Provide Modeling Service

Some small startups will require ways to showcase their products using models. For Example, a small clothing store will need individuals to wear their products, and after that, they will use them for promotional work.

95. Become a Clickworker

Clickworker is an online platform that provides tasks for individuals based on their qualifications and skills. It is free to signup, but you have to complete short assessments and get good results to be eligible for tasks.

96. Join Answering Platforms

You can join Answering platforms like JustAnswer and provide solutions for those who are having various types of questions/issues.

97. Provide Travel Advice

If you have travelled around many places or familiar with many locations (locally or internationally), this is for you.

You can offer travel advice for those who are planning to go to a place (that you have already visited or familiar).

Also, you can teach them about local rules and regulations to follow, about accommodation facilities and activities to do around that place.

For whom can I provide travel advice? You can mainly offer travel advice to busy individuals such as doctors, engineers and anyone with a busy life schedule.

98. Offer Data Analysis

If you are good with analysing various data, you will have a good chance with most of the companies that are looking for data analysts to work on a freelance basis. Companies use data analysis to identify the current situation of their business, expand their business or to make crucial decisions.

99. Offer Agriculture Support

When it comes to agriculture, many Agri-sector individuals or organisations come across various issues or needs numerous technologies to operate. So if you are in the Agriculture sector, you can offer specific advice online. For Example, you can provide organic farming techniques to vegetable farmers or a solution to a pest infection.

100. Invest in Small businesses online

You can invest online using crowdfunding platforms and make a profit share.

101. Make a local bidding platform

You can make a bidding platform locally to buy and sell products. You can make a revenue as a middleman.

102. Offer Application Support for University Admission

You can help individuals to fill university admission applications and make a revenue, especially when students want to apply for foreign universities.

103. Offer Document Verification Service

You can offer validation of documents such as University degree certificates or any legal document online.

104. Offer 3D Printing service online

If you have an excellent 3D Printer, you can offer the services to companies that are looking for 3d printing service.

105. Offer Project management

To reduce inhouse cost in companies, they tend to outsource project management. If you are a professional project manager, then this where you can come in and fill the gap remotely. You can find remote project management work on most of the freelance platforms and job platforms.

Below section includes some of the professional types of jobs that you can do online to make revenue at home on a part-time or full-time basis but requires a license or a registration

106. Are you a registered doctor? Then become an online doctor in Sri Lanka or overseas.

If you are a registered and a licensed doctor in Sri Lanka, you can provide consultancy services by joining popular healthcare-related portals or offer it via your website. Also, you can do online doctor booking service in Sri Lanka using your website as well.

( If you are residing in a different geo zone, you may follow the procedures as per that countries healthcare system.)

How to become an online doctor to help the community in Sri Lanka?

You can provide one to one consultancy services that do not require physical attention. Example: If a person says he is suffering from stress, you will be able to provide him with a solution.

107. Provide Legal Consultation for Individuals

Suppose you are a registered lawyer and has a license to practice, Then you may offer legal services online to individuals. Example: Advice an individual regarding a motor traffic violation or personal dispute.

108. Provide Legal Consultation for Companies

Suppose you are a registered lawyer and has a license to practice, Then you may offer legal services online. Example; you can provide consultation for a firm that has a brand dispute or problem with an employee.

109. Provide Accountancy services for Companies

Suppose you are a professional accountant, you can offer accountancy related services like preparing balance sheets, profit and loss accounts etc

110. Provide Auditing services for Companies

Suppose you are a registered accountant and an auditor, you can offer auditing related services.

111. Provide architectural engineering services for Individuals and Companies

Suppose you are a professional and licensed architect, you can offer architectural engineering services online to individuals or companies.

112. Provide essential veterinary services for Pet Owners

Are you are a veterinary doctor? Then you can offer some veterinary services like meal advice that will be needed by pet owners.

Some more popular make money online questions and answers for you.

How can I earn money online without doing anything?

You will have to work using the skills that you possess or invest to earn money online unless you win a lottery ticket, prize or get money from your parents. 😀 Earn money online is not a get rich quick scheme like some says. You need to put some reasonable effort, guys!

How can I earn money without any kind of investment ( online )?

It is possible to do online money-making in Sri Lanka without a significant investment. You can do things like freelance work like content writing, translation work, graphic design. Also, you can participate in free forex trading tournaments without any investment to make money online at home in Sri Lanka or anywhere.

How can I earn money without any form of a job?

If you do not have a job, but you have money with you, then you can invest and do forex trading, start a blog, start a youtube channel or any similar online earn money in Sri Lanka.

If you do not have a job and if you do not have money as well, then you can try most of the free methods like free forex trading tournaments, become an online tutor or join freelance websites.

Also, you can apply for companies that offer part-time online money earning jobs in Sri Lanka. For example, a company that provides seasonal based products/services might hire a graphic designer during that season to make their promotional materials.

What are the best ways or formulas to earn money online jobs for students at home without investment?

You can earn money with some online websites without investment online. Below example is a make money online opportunity without investment for students at home.

Example: Create an account in the Freelancer website or Upwork website, and you can offer services such as graphic design or software development. ( Ask your dad or mom to create the account under their details, if you are still not 18 and does not have any documents for identity/address verifications )

How to find online internet jobs from home or online job vacancies in Sri Lanka?

Just sitting and waiting won’t help you in getting any online full time or part-time jobs that you can do from home or office in Sri Lanka. You can find online job vacancies using some of the methods below.;

  • Some companies offer remote jobs. Well, you cannot find them easily in job portals or jobs vacancy websites(locally). So go to websites of companies related to your industry. Then look for careers or job vacancies links at the main menu or footer. Find a job and apply. Also, you can enquire using contact us page to know about any available job vacancies.
  • Start an online-based business, so you can get regular work to do from home. For example, you can start a content writing service online or a logo design firm online. You can do this while doing a job as well ( Note: Make sure that it does not conflict with your current companies services. E.g., If your current company offers content writing as a service, you can not do the same while working at that company. It is ethically wrong and might cause unnecessary issues for you as well. )
  • Forex Trading - You can do forex trading at home with as small as $1 ( but practically you will need about at least $200 to do forex trading seriously. ). Which is the best broker for forex trading? You can use the best forex brokers in Sri Lanka list on our website that includes the best forex brokers. Can I do forex trading without investment? Yes, you can join free forex tournaments or trade using a demo account to get an idea as well.

You can even do things like blog writing or even become a Youtuber, but those may take considerable time. Still, with above three things (especially Forex Trading ), you can make revenue faster, as long as you apply correct techniques (e.g. money management in Forex ) and gain the necessary skills (e.g. Logo design skills ).

What are the best earn-money online apps in Sri Lanka?

You can make money from the internet using popular trading apps. You can try the following websites and use their mobile app to trade and earn revenue while at home. ( earn-money app download method: You can first register with any company in the above link and then download the app to your device, smartphone or tab ).

Also, you can register and use Shutterstock contributor app to upload images to make extra income while at home ( make sure the photos are high quality and of high resolution).

Summary of earn money online methods with questions and answers.

So I have highlighted most of the possible ways that you can use online to make revenue at home or while even working at office ( of course, during free time! otherwise you will be at risk of losing your employment!). To write the above earn money article took almost about a week. So I hope the information on the page is useful to you.

In case you have more ideas like above or have any questions related to earning money online, feel free to comment below or drop an email using the contact page.

September 30th, 2020

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top-forex-brokers-sri-lanka

Who are the top forex brokers to trade Forex ?

Here is the list of good reliable forex brokers that you can use for trading in Sri Lanka.  List includes reliable lowest deposit forex brokers and forex brokers that offers forex trading bonus for traders as well. You can choose one depending on your budget, device that you use for trading, trading software, deposit/withdrawal methods, trading bonus etc..  You can register free with any of these brokers, practice using a demo account and then trade using a live ( real money ) account at any time.

1) ICMarkets Forex Broker Review - Australian Forex Broker

A licensed Australia based licensed Forex broker. One of the best brokers in the world for forex trading that offers trading platforms for Windows, Mac, Android,  iOS and Web Browser as well.

Also ideal for those who wish you use a modern trading software (  they have modern trading platform ctrader and also standard MT4 / MT5 are also available ).

Supports Skrill and Neteller. Also Supports Paypal too for deposits and withdrawals. Make sure you have a Paypal account that can receive payments too.

( Also if you are in Australia, bank transfer can be done. If you are in Thailand or Vietnam, you can use internet banking facility as well )

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Regulated

Yes

Free Practice Account

Yes

Minimum Deposit

$200

Platforms

cTrader

MT4 / MT5

Web Browser

( Both iOS and Android Supported )

Supports

Paypal

Skrill

Neteller and more..

2) Tickmill Forex Broker - $30 Free Bonus

A UK based licensed forex broker and has an office in Seychelles too. Supports Windows, MacOS, Android and iOS. Also has a browser based Web Trader system. Uses a standard MT4 Trading Platform.

Supports Neteller and Skrill. Also supports Stickpay for payments.

Regulated

Yes

Free Practice Account

Yes

Minimum Deposit

$100

Platforms

MT4

Web Platform

( Both iOS and Android Supported )

Supports

Skrill

Neteller

Sticpay and more..

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

3) Deriv Forex Broker Review

DERIV a Forex broker founded in 1999 in UK. A popular licensed broker like ICMarket. They offer trading platforms for Windows, Mac, iOS and Android. Recently rebranded as Deriv (formerly known as Binary). Good thing with this broker is you can start with as low as $5 and can trade various asset types in various methods. ( Supports Japan based traders too unlike other forex brokers ). Also big plus point is that you can deposit / withdraw using popular crypto like BTC,ETH,USDT etc. So Deriv is one of the best forex brokers that supports crypto deposits and withdrawal !

Regulated

Yes

Free Practice Account

Yes

Minimum Deposit

$5

Platforms

DTrader

Smart Trader

MT5

( Both iOS and Android Supported )

Supports

Skrill

Neteller

airtm

Crypto

BTC/LTC/ETH/USDC/USDT

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

4) IQOption Forex Broker Review

A Cyprus based licensed popular Forex broker and minimum deposit is only $10. They offer a modern trading platform for Windows, Mac, iOS and Android operating systems. Also has a web browser based application.  One of the best trading platforms as it is easier to use compared to other platforms. You will get addicted for sure ! Supports Skrill, Neteller and many more deposit and withdrawal options.

Regulated

Yes

Free Practice Account

Yes

Minimum Deposit

$10

Platforms

Windows Application

Mac Application

Web Browser

( Both iOS and Android Supported )

Supports

Skrill

Neteller and more..

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

5) FBS Forex Broker Review - 100 Free Bonus

A Beliz based licensed Forex Broker. They offer account with one of the lowest minimum deposits ( $1 ). A company that offers loads of free bonuses ( One of the lowest deposit forex brokers that offers forex bonus as well ! welcome bonus of $100 ! ) .  MT4 and MT5 Trading platforms are available for Windows, Mac, iOS, Android and Web browser. Also they have introduced  a modern trading platform called 'FBS Trader' for both ios and android users. It is a very user friendly trading platform.  Supports Skrill, Neteller,Sticpay and many more methods.

Regulated

Yes

Free Practice Account

Yes

Minimum Deposit

$1

Platforms

MT4 / MT5

Web Browser

FBS Trader

( Both iOS and Android Supported )

Supports

Skrill

Neteller

Sticpay and more..

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

Are  you looking for Reliable Forex Signals ? Then Check our Premium Forex Signals Review Article

January 7th, 2020

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What-are-Forex-News-types-that-I-should-know-by-Prathilaba

If you want to do forex trading in Sri Lanka, you would need to understand that economic indicators can have a huge impact on the currency market. Economic indicators show the strength and potential of an economy of a country. They provide you with a complete picture of an economy’s current and potential standing with factors like GDP and unemployment rate. Forex traders take interest in these indicators as these indicators help in comprehending the direction forex market might take in future.

A crucial news release related to economies around the world can lead to volatile situations in the forex market and force a specific pair of currency to move in a particular direction. It can be upward, downward, or sideways. Every week several news releases are made associated with various economic indicators and in today’s digital era, everyone can easily access the news and information to understand the mechanism of the forex market in the light of various economic indicators.

News pertaining to the economic indicators can have a huge impact on the Forex exchange. Given below are the main economic indicator news categories that you should know before entering into forex market:

Interest Rates By Central Banks

Every month, several central banks around the world from different economies gather to decide about their interest rates. They decide whether to let the interest rates remain unchanged or raise the rates, or bring down the rates. These interest rates are very important and make a vast impact on the foreign exchange market.

When there is an increase in the interest rate, the market usually takes a bullish trend and that means there will be an increase in the value of the currency. On the other hand, when the interest rate is brought down to a lower level, the forex market is expected to take the bearish trend, which means that there will be a decrease in the value of currency price. For unchanged interest rate, the market can take any direction based on the circumstances of the concerned economy at that time.

Along with the change in interest rate, the policy statement is also released providing with the complete sum-up of the economy and what could be the future of the economy. In addition, the monetary policy of the economies is also declared, associated with the essential financial matters of the country.

Gross Domestic Product or GDP

The Gross Domestic Product is a very crucial factor representing the overall economic condition of a country. Basically, GDP is the total value of all goods and services that have been produced by a country over the course of a period of time like annually. GDP does affect the price movements of the currencies in the foreign exchange market.

When the gross domestic product of a country is not up to the expectations of the market, it can be said that the currency values might go down. Similarly, when the GDP of a country is beyond what the market has been expecting, the values of the currency is expected to move upwards. Th GDP figures are diligently evaluated by the forex traders as it also helps in recognizing or anticipating the future moves of the central banks.

GDP is also a very significant economic indicator as it helps in identifying the current situations of the business cycle of a country. The business cycle is kind of a combination of expansion and recession cycles. During the expansion phase, many sectors of the economy expand or grow together, and in the recession phase, the growth rate of those sectors starts to contract.

Thus, GDP is a leading factor is analyzing the foreign exchange market. As a forex trader, you must be aware of it and you must also understand that it is a lagging economic indicator which confirms the things traders are already expecting.

Consumer Price Index - CPI

The consumer price index or CPI shows the cost of goods and services and is also recognized cost-of-living index. CPI helps in managing and controlling the rate at which prices of the good or services rise or fall. The CPI appraise the inflation rate (the rate at which the price of goods and services rise in an economy) which is a part of people’s lives through their everyday expenses. When there is any sign of a rise in the inflation rate, it means the central banks will have to increase the interest rates. Higher interest rates mean the bullish trend in the market.

When inflation stays inside the anticipated levels, it is regarded as a regular figure. Nevertheless, if inflation swerves farther from the target levels for a longer period of time than expected, it can result in a negative outcome for the economy.

CPI is a part of monetary policies, as a result, it can have a higher effect on prices in the forex market.

Non-Farm Payroll - NFP

For a majority of forex traders, non-farm payroll or NFP is one of the most crucial indicators in the all the news releases that come out on regular basis like every month. The NFP report is released by Bureau of Labor Statistics (BLS) on the first Friday of every month. The BLS also declares the unemployment rate as a component of the Employment Situation Report. The report comprises of the data figures for the new jobs which have been created in the US together with some other labor market information. The data comprises of all the workers that have been paid, however, the data leave out the government workers, personal households, non-profit establishments, and agricultural industry.

The main reason behind why NFP is so important and is followed so industriously is because it has a propensity to bring substantial movements in the forex market.

It partly depends on the timing of the release of the report.

There is a close relation between employment rate and the business cycle. The changes in NFP or non-farm payrolls is quite similar to the changes in GDP on a quarterly basis. It means that NFP can be utilized as a proxy in place of GDP. The main difference between NFP and GDP report is that NFP is released on a monthly basis and GDP report comes out on a quarterly basis. In addition, while NFP reports the data of the last month, and GDP reports the delayed information. Apart from the connection between NFP and GDP, NFP report also has the impact on monetary policy of the economy and in which direction the policy will move.

ADP National Employment Report

The ADP National Employment Report comprises the economic data concerning the levels of non-farm private employment in the U.S.A. The report is released on monthly basis. ADP stands for Automatic Data Processing, which is also the firm that has been accumulating the employment data and preparing the reports since the year 2006. ADP gathers the data using the payroll facilities and services it delivers to the about 1/5th of the U.S. private employment.

The ADP report comes out two days before the NFP report released by the Bureau of Labor Statistics. Traders in the forex market look at the ADP report as a preview of the more extensive and elaborated reports that are released by the government.

The overall ADP report is categorized in 4 distinct parts:

  1. The first category comprises of a national snapshot which displays the changes in the data figures non-farm private payrolls and divides the data based on business size and industry.
  1. The second category comprises of the data figures of the small businesses, which is further divided on the basis of small and very small sizes of the businesses, and is also divided based on whether the business delivers goods or services.
  1. The third category shares the data regarding the franchises and divided the data based on the sector, which is further divided into the industry like restaurants, real estate, and so on.
  1. The fourth category shares the data based on regions and it mainly highlights the data changes in six prominent states of the USA including New York, Texas, California, Florida, New Jersey, and Illinois. Each region is further divided into sector and industry.

One of the other reasons for why ADP is such an important indicator for forex traders is because if the employment figures show a continual and strong growth for a period of time, it escalates the inflationary rates and because of that, the Federal Reserve may also increase the interest rates and vice-versa. This will impact the forex market depending on the market situations and economy’s present and potential standing.

FOMC - Federal Open Market Committee

Even though the meetings of central banks from different economies are very crucial when it comes to economic indicators affecting the forex market price movements, the Federal Open Market Committee of America is also very important and its meetings have taken the center stage as the US Dollar is at the moment most powerful currency in the world.

Every month the FOMC meeting takes place in order to decide on rates and to provide information about present economic conditions, how effective the current monetary policy is, and what are future expectations from economic conditions and monetary policy.

FOMC meetings can have a vast impact on the volatility of the forex market. The Federal Open Markets Committee meetings are conducted eight times every year and the outcomes of these meetings are highly anticipated by the forex traders as these meetings can affect the demand and supply of the currency pairs in case the outcomes is not as expected.

Trade Balance

The trade balance is the difference between the value of the imports and exports of the economy of a country. If the value of exports is higher than the value of imports, the balance will be positive. Similarly, if the value of imports is more than the value of exports, the balance will be negative. In all of this, the exchange rate of the economy’s currency plays a very big role.

To trade successfully in the forex market, traders need to know the exchange rate and the information about a country’s net exports can help the forex traders in analyzing and predicting the future movements in inflation rate and foreign investments. This gives the hints about how the currency market may behave in future.

Trade balance comprises of three main factors:

  • The monetary value of goods produced in a country
  • Tax and duties applied the goods that have been exported and imported
  • The foreign exchange rate between the currencies of two economies.

The foreign exchange rate between two countries is the most fundamental factor for forex trading in Sri Lanka. As the trade balance of an economy relies greatly on the exchange rates between two countries, the trade balance is a main economic indicator for the foreign exchange market. A country’s trade balance is also crucial in measuring the net income of the country through foreign trade

The trade balance helps the economists and forex traders in evaluating and comparing the economic strength of one country to another. If a country has a large trade deficit i.e. large negative trade balance, it would have to borrow the funds from other trading partners in order to buy goods and services. The Trade balance reports can create substantial movements in the forex markets if the data has evidential changes as compared to previous reports.

Retail Sales Report

The proper name for retail sales is Advance Monthly Sales for Retail Trade. However, for forex traders, it is retail sales. The retail sales report is released by the Census Bureau, which is a division in the U.S. Department of Commerce.

This report provides with an early estimation of the value (in dollars) of sales for the retail sector. Although the sales do not include inflation rate adjustments. The report also shows the percentage change in the value of sales from the preceding month.

If the retail sales figures are growing, it shows that the economy is in good health and as a result, forex market takes up the bullish trend. The usage of the retail sales report in forex trading is clearly understandable as the report offers the very particular data about the industries and products on which customers are spending a large part of their income. Retail sales report is one of the most valuable economic indicators in the forex market and using this indicator, the forex traders can surmise the price movements in the forex market to some extent.

If you want to learn about how these economic indicators are useful in forex market analysis, you can refer to ‘ Fundamental and Technical Analysis in Forex Trading ’.

In addition, if you are interested in knowing about forex brokers in Sri Lanka, you can go to, ‘ Where to trade Forex Online and type of Forex brokers ? ’.

Some of the Best Forex Brokers

ic-market-in-sinhala-sri-lankatickmill-sinhalarobo-forex-in-sinhalapepperstone-forex-brokerfbs-forex-broker

October 18th, 2018

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Forex-Chart-Types-by-Prathilaba

Various indicators are used by traders for forex trading in Sri Lanka in order to get some detailed understanding of the supply and demand of currencies. There are many ways to analyze the forex market and what’s important is how to use various technical tools to analyze the market information. You can learn to analyze the market conditions and anticipate the price movements using elements like charts, patterns, and forex indicators.

The main purpose of using these elements is to accomplish the price forecasting. Using charts and patterns, you can comprehend and process past market data of the forex market and, you can put some efforts into anticipating future price movements.

Line, Bar and Candlestick Charts

Line Chart in Forex

A line chart joins the sequential data points using a line and this chart is utilized by forex traders to keep track of closing prices of the currency. This chart is one of the most preferred charts used by forex traders and is formed by connecting a few successive closing prices together. In addition, line charts can be utilized for any time-frame. A line chart provides the forex traders with a distinct image of the price movements of a currency over a period of specified time. As the closing prices are considered as the most important price of the trading day, it can be seen why line charts are so often used by traders in the forex market.

Bar Chart in Forex

Bar charts are the charts that display the movement of prices of a currency over a specified time period. Bar charts are used for technical analysis in order to measure the performance of the currency in the forex market. A bar chart comprises a few elements:

  1. The right side of the bar contains the closing price.
  2. The left side of the bar contains the opening price.
  3. The top of the bar signifies the highest price of the currency during the day trading.
  4. The bottom of the bar signifies the lowest price of the currency during the day trading.

A single bar covers a predetermined time-frame, which is usually one day. Nonetheless, a bar chart can at times also cover the time-frame from one minute to a week or more.

Candlestick chart in Forex

Candlestick is very much like bar chart as it also shows the opening price, high price, low price, and close price for the trading day in the forex market. Usually, the candlestick shows the data for one trading day. The candlestick has a broad body, also referred to as the real body. The real body shows the range of currency prices which lies between the opening and closing price of the currency for a day's trading. When the closing price is lower than the opening price, the real body will be black, and when the closing price is higher than the closing price, the real body will be empty.

Chart Patterns

There are thousands of traders who trade in the forex market on an everyday basis and it can be difficult to make trading decisions. Chart patterns are one way to identify the future price movements. They focus on the bigger picture and help the traders in recognizing the future price movements.

Chart patterns have pre-defined distinctness and criteria, but no pattern can guarantee 100% accuracy or certainty when it comes to price movements in future. The most favorite chart patterns are reversals and continuations. A reversal pattern shows that the price movement will reverse at the end of the pattern and a continuation pattern shows that the prices will move with the same pattern even after the pattern gets completed.

Given below are some of the most popular chart patterns that are used in the forex market:

Head and Shoulders

The Head and Shoulders is a reversal kind of chart pattern that shows that the price movements might follow a reversal trend once the pattern is finished. It has two types, standard head and shoulders top pattern and head and shoulder bottom pattern. The top pattern shows that the price movement for a currency pair will move downwards when the pattern is completed at the highest point of an upward trend. The bottom pattern shows that the price of the currency pair will rise after a downward pattern is completed.

Cup and Handle

The cup and handle pattern can be both, reversal and continuation chart pattern. For reversal pattern to occur, the price must be moving downwards. As the cup has the rounded bottom, that is where the reversal patterns take place as prices start moving upwards from the bottom of the cup. When a cup pattern is formed, the price should take a pause and move sideways or lower to create a handle. For a continuation pattern, the prices must be moving upwards. The price movement will form a cup shape patterns and creates a handle, and then breaks out of the handle to keep moving upwards.

Double Tops and Bottoms

The Double Tops and Bottoms chart pattern is easy to identify and also one of the most dependable analytical tools in the forex market. A double top is formed when the price reaches a high point in the upward trend and then moves downward to a new low point. Then again some time in near future price touches a new high point, very close to the previous high point and then falls below the previous low point. It is recognized as double top as the price reaches the high point twice in the same zone, incapable of moving ahead of that zone.

A double bottom is formed when the price reaches a low point during the downward trend and then pulls back and starts moving upwards to a high point. When the price movement once again faces a decline, it touches the low point near to the previous low point, and then move upwards and touches the point higher than the previous high point. It is recognized as double bottom as both times price reached a low point in the same area and was not able to move below that.

Triangles

Triangle chart pattern is one of the most known patterns employed in the technical forex analysis as they appear more frequently as compared to other patterns. The three regular kinds of triangle patterns are ascending, descending, and symmetrical. The triangle patterns can last from a few weeks to many months.

In symmetrical triangles, two market trend lines meet each other and indicate that a breakout may take place. Ascending triangles has a straight upward trend line and a lower trend line which is moving upwards, conveying that a breakout might occur. In descending triangles, there is a straight lower trend line and an upper trend line which is moving downwards, conveying that a breakdown might occur.

Flags & Pennants

Flags and Pennants are a form of continuation patterns. They show a sharp price movement, upwards or downwards, then there is a short sideways or downside movement and then the prevailing trend continues. This sideways movement usually creates a rectangle form, known as flag pattern, and when it creates a triangle form, it is called a pennant pattern.

Candlestick Patterns

Candlesticks patterns are formed when the price movements are represented by a candle body. Candle body It is a solidified area existing between the opening and closing price of the currency, and the wicks display the high and low points. Given below are some of the popular candlestick patterns:

Let’s take a look at four of the most popular candlestick patterns along with several actual stock chart examples in order to show their worth.

Bullish Engulfing Candlestick

Bullish engulfing candlestick pattern occurs with the combination of two candlesticks of the current day and the previous day. The candle from the previous day is black candlestick and candle of the current day is the white candlestick.

For the previous day, the price opens at an almost highest point and closes at the almost lowest point for the day. This forms the first candle which is the black candle.

For the next or current day, the price opens at price below the closing price of the previous day. It increases the demand for the currency and price begins to move upwards. The day session closes at the price above the high price of the previous day.

Thus the white candle engulfs the black candle completely.

Bearish Engulfing Candlestick

Bearish Engulfing Pattern occurs with the combination of two candlesticks of previous and current day. The previous day candle is the white candle and current day candle is the black candle.

For the previous day, the price opens at a nearly lowest price of the day and at the end of the day, the price closes at a nearly highest price of the day. It forms the first and white candle. For the next or current day, the price opens at the level above the closing price of the previous day and then the price starts to move downwards.

The price keeps on falling and closes at the price below the closing price of the previous day. This forms the black candle, which engulfs the white candle completely.

Hammer Candlestick Pattern

A hammer candlestick pattern is formed when forex traders turn down the support or resistance levels. When Hammer pattern is formed, it means that the opening price, highest price, and the closest price are close to each other so that the real body is small in size. It also has a long lower shadow, which is at least twice the size of the real body.

Doji Candlestick Pattern

Doji candlestick pattern shows the indecision which is felt by the traders when it comes to the price action of a currency. Here, the opening and closing prices of a currency are almost equal. Doji candlesticks look like a cross or a plus sign. A Doji can be seen at the top and bottom of the market trends and can also be seen as a sign of possible reversal or continuation patterns based on the circumstances.

Forex Indicators

The best way to identify the most suitable forex indicator is to see how it suits your trading style and perspective. There are a variety of forex indicators and you can find that will be right for you. Some of them are:

Moving Averages

A moving average is a popular forex indicator which is used in the technical analysis in smoothing out the price movement action by removing the random price swings from the main action. The two fundamental moving averages are the simple and exponential moving average. A simple moving average is calculated based on over a definite number of time periods. The Exponential moving average gives more weightage to the recent prices. Usually, moving averages are used to determine the direction of the market trend and identify support and resistance levels.

Fractals

Fractals are indicators that help in recognizing the reversal levels in the market. Forex traders utilize the fractals to identify the future price direction and movements.

Most of the trading platforms with chart features provide fractals so that traders can just use the indicator on the chart to figure out the price patterns.

Bollinger Bands

Bollinger Bands is a forex indicator, formulated by John Bollinger. It is used to determine the level of volatility in the forex market. Basically, when the market is unagitated, the bands will shrink in size and when the market gets noisy, the bands will spread out.

RSI

RSI stands for Relative Strength Index. It is a momentum forex indicator that determines the speeding and change of the recent price movements so as to study the conditions that might have resulted in overbought or oversold of the currency. RSI is regarded as overbought when the RSI value is higher than 70 and it is considered as oversold when the RSI value is under 30. These values can be modified based on what fits the security in the best way.

You can add these indicators to your chart using the trading software given to you by the Forex Brokers.

If you are interested in learning more about forex market price action analysis, you can refer to ‘ What is Price action trading analysis ? ’ and for getting more information about how to trade forex in Sri Lanka, ‘ Introduction to Forex Trading .

Some of the Best Forex Brokers

ic-market-in-sinhala-sri-lankatickmill-sinhalarobo-forex-in-sinhalapepperstone-forex-brokerfbs-forex-broker

October 18th, 2018

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What-are-the-must-know-technical-terms-used-in-Forex-Industry-that-I-should-know-by-Prathilaba

Before you start forex trading in Sri Lanka, as an investor, you must understand the some of the technical terms that are used in the forex market as you will be encountering those terms while trading in the forex market:

What is Pip in Forex ?

Pip stands for percentage in point or price interest point. Basically, pip is a standardized unit for the smallest movement that can occur at a price of the pair of currency. Most of the pip values are equivalent to 0.0001 as the price of the currency is measured up to the 4th decimal place.

What is Spread in Forex ?

Usually, many forex brokers in Sri Lanka use spreads to figure out their portions of earnings. In the forex market, a spread is defined as the difference in ‘Ask’ price and ‘Bid’ price of a pair of currency like EUR/USD. A spread is one of the easiest ways to pay the transaction cost to the brokers. For example, EUR/USD has been priced at 1.1499 and the trading broker offer to buy it at 1.1500 and to sell it at 1.1498.

The main reason behind this is the supply and demand of the currency pair. For example, dollars are high in demand so brokers do not need to charge higher spread from the trader as they would have no problem selling off the dollar currency in the market. On the other hand, if it is a currency is not in higher demand and brokers might have the problem selling it off quickly, they might charge higher spread as brokers will be taking the bigger risk. It is recommended for the individual traders that they do not buy or sell currencies with low demand.

It is imperative that you understand the value of spread before choosing a broker. To understand more about types of brokers working in the forex market, and how to choose the right one, you can refer to ‘ Where to trade Forex Online and type of Forex brokers ?’

What is Leverage in Forex ?

Leverage comprises of borrowing ( not actually borrowing something but in order to understand it, will consider it as a borrowing ) a definite amount of the money which is required to invest in something. In forex trading, usually, the money is acquired from a forex broker. Forex trading does not require a bigger leverage as with a small initial margin, a trader can create, control and manage a large amount of money. Forex trading is a lot more popular as compared to trading in other financial instruments because, in the forex trading, you can acquire a bigger amount with very small investment as compared to trading in other securities. With low leverage, new traders can hold up in the forex market during the initial stages.

What is Margin in Forex ?

A margin is a deposit made by traders in the forex margin account as collateral to open a trading position in the forex market. Generally, the investors borrow a short-term loan from the forex broker. In order to be able to do the trading in the forex market, first, an investor must deposit money into the margin account and then start the trading.

The main objective behind a margin account is to increase the borrowing in order to increase the return on investment. The margin accounts are managed by the brokers of the investors and settled in cash on an everyday basis.

What is Commission in Forex ?

When trading in the forex market, commissions are a very important part of it. In general, commissions are paid to the brokers and dealers for their services in forex trading in relation to the spread, which is the difference between ask and bid price of a pair of currency.

When you are trading in the forex market, it doesn’t matter whether you make profit or loss, the first thing that will be deducted from your trading account will be the commission of the broker charged for the transaction. However, the commission may variegate based on the volume of the transaction. Larger the volume of the transaction, higher will be the commission charged by the broker.

What is Swap in Forex ?

A swap is a type of currency swap in forex trading. It is a mutual agreement that takes place between two parties who agree to exchange one currency of a particular amount with another currency of the same amount based on the current spot rate. Then at a specified date in future, the two parties will return the original amounts at a specified forward rate.

What is Bid and Ask Price in Forex ?

In forex trading, the bid price is that price at which market participants are ready to buy a specific pair of foreign currency in the market. Similarly, ask price is that price at which market participants are ready to sell a pair of foreign currency in the market.

What is Lot Size in Forex ?

In the past, currencies were bought and sold in specific amounts known as lots. The regular size of a lot is 100,000 units. Nevertheless, with technological development in the last decade or so, forex brokers have begun to offer small size lots as well. There are also mini-lots of 10,000 and micro-lots of 1,000. A lot size can be divided into 3 categories, micro, mini, and standard. A micro lot contains 1,000 units, a mini lot contains 10,000 units, and a standard lot contains 100,000 units.

What are Order Types in Forex ?

Given below are a few types of forex trading order:

  1. Market execution - These orders are placed and executed immediately at the current market price.
  2. Pending order - A pending order is the order which has been listed but has not yet executed to become a complete trade.
  3. Buy stop - In buy stop order, the trader tells his or her broker to purchase a currency when it touches a strike price, which would be higher than the current price.
  4. Take Profit & Stop Loss - Take profit and stop loss levels are employed by forex traders in order to safeguard themselves against the unexpected financial losses and make profits.
  5. Sell Stop - In this order, the broker is instructed to sell a currency if its market price goes below a particular level.
  6. Buy limit - In this order, the broker is instructed to purchase a currency if its market price reaches a particular level or goes below it.
  7. Sell limit - It is an order where forex trader, on behalf of his or her client, sell a particular currency when the market price of the currency rises to a certain point or above that.

Some of the Best Forex Brokers

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October 18th, 2018

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Where-To-Trade-Forex-Online-And-Type-Of-Forex-Brokers-in-Sri-Lanka-by-Prathilaba

In present-day situation, a forex broker is an intermediator who buys and sells foreign currencies on behalf of the clients in return of for a commission. Before the internet, forex brokers used to operate by phone. Clients would contact their brokers though phone to tell them about what currencies to buy or sell, and brokers would just do that and in return, they would receive the commission. Now, with the emergence of the internet in last two decades, online forex trading has come into existence. The trading could be done through a variety of electronic platforms and computer applications.

How to choose a forex broker ?

You can find many forex brokers in Sri Lanka. However, choosing the right forex broker can be a very daunting task, particularly if you do not have any idea what you are looking for. Given below are a few factors you must consider when choosing a forex broker:

  • Security and Reliability - The most important characteristic that a forex broker must possess a high level of security and reliability. You will be handing over your hard-earned money to a stranger. Least you could do is make sure that the stranger is reliable and legit. Luckily, there are regulatory bodies all over the globe who can help you recognize a trustworthy broker. You can choose any regulated and licensed broker to do trading in the forex market.
  • Cost of the transaction - When you trade in foreign currencies, you would also have to pay transaction costs. Every time you do forex trading in Sri Lanka, you have to pay commission or transaction cost. So the best approach would b to find the forex trader with the most affordable rates to do the trading. Also before making final decisions review your every option. 
  • Convenient deposits and easy withdrawals - A good forex broker will let you deposit or withdraw your funds from the forex market without creating any difficulty. Usually, forex brokers do not have any ground to make things difficult for their clients when it comes to depositing funds or withdrawing profits. They only use your funds to trade on your behalf. Look for the brokers who will make the trading easier and make the withdrawal procedure easier and smoother.
  • Forex trading platform - Majority of forex trading happens through brokers’ online trading platforms. So it is important that the trading platform your broker is using must have user-friendly characteristics and must have a stable infrastructure. When choosing a forex broker, make sure their trading platform has a lot to offer to make your trading easier and successful.
  • Best advisor - When you are looking for forex brokers in Sri Lanka, make sure that the one you are choosing gives you the best price for your orders, for both buying and selling. It is also important that your orders get filled at the right time so that you can make best of your circumstances.
  • Best Customer support service - Usually, forex brokers try to do their best for their clients, but they are not perfect. So choose a broker whom you can approach without difficulty and who is always willing to help you and give the right advice. Also, make sure that the broker is knowledgeable and knows what he or she is doing.

Types of Forex Brokers

Forex brokers can be divided into 2 categories:

Dealing Desks Brokers or Market makers

No Dealing Desks Brokers  - can be divided into 2 parts:

a) Straight Through Processing (STP)
b) Electronic Communication Network (ECN)

Dealing Desk Brokers  

A dealing desk broker will offer its customers the functions of both the sides of the market. The broker puts both a bid and asks price for at which they are prepared to buy and sell the foreign currencies. Due to this, the forex broker's customers can always fill up the trading orders. Dealing desk brokers are also known as market makers. Their main purpose is to acquire a share of the spread and to maintain adequate volume on both buyers’ and sellers’ sides of the market to avoid risks.

No Dealing Desk Brokers

No Dealing Desk brokers do not process their customers’ orders using a Dealing Desk. It means that they don’t take the other side of their customer’s dealing as their main purpose is to just connect the buyer and seller together. Usually, no dealing desk brokers charge a small commission for their trading services or just increase the spread by adding their own net income into it. No Dealing Desk brokers can be divided into two parts, STP and ECN

a) STP Brokers

STP stands for Straight Through Processing. In this, the STP broker directs their customers’ orders straight to those who bring liquidity to the market such as banks and larger brokerage firms. It is called straight-through processing as the broker does not operate through a dealing desk and brings down the frequency of delays and requotes while trading is taking place. STP has been developed to enhance the speed at which the transactions in the forex trading market takes place. This is done by letting the information that has been filled using electronic means to be passed from one party to another during the settlement procedure without actually re-entering the same information repeatedly at every stage.

b) ECN Brokers

ECN stands for Electronic Communication Network. An ECN forex broker utilizes the electronic communications networks or ECNs to offer their clients an opportunity to have direct contact with other participants of the forex trading market. The ECN provides the buyers and sellers with an electronic system where they both the parties come together in order to execute trades. This network has been designed in such a way that it can match the demand and supply of the currencies at the prices customers want to pay or want to receive for the currencies. Basically, this network match buying and selling orders available in the exchange. Through ECN, customers can also check the ask and bid prices of the currencies listed in the open market.

Some of the Best Forex Brokers

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Forex Broker Account Opening Tutorials

IC Market Forex Tutorial

Tickmill Forex Tutorial

Type of Forex Trading Platforms / Applications

Online forex trading is similar to any other trading platforms which are used to buy and sell the securities. The forex trading platform act as a mediator between the forex broker and the trader. Platforms also provide the customers with both current and historical data pertaining to a particular foreign currency and provide the customer with an access to all types of orders available in the forex trade market. For forex trading in Sri Lanka, you can use MT4, MT5, and cTrader ( Your chosen broker will provide one or all these platforms ) to enjoy a smooth and easier trading experience.

If you want to know more about Forex markets, you can visit our article, Introduction to Forex Trading for more information.

October 18th, 2018

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Forex trading in Sri Lanka can be a fascinating experience. Traders are always looking to attain the best market prices. These forex traders look into what the market has to offer for them and try to catch the right opportunities that could have great possibilities of high profitability. There are many reasons which make the forex market the best place to trade.

Every trader has different reasons to why he or she wants to trade in the forex market. To trade successfully, traders must know what they want and what to look for. There are various ways to analyze the forex markets, such as patterns, charts, and other analytical tools. They help you read the market conditions and what could be expected in the future. Different traders have different reasons for choosing the Forex market and choose different methods to analyze the market position.

Here are a few of them:

1 Pin Bar Trading Pattern Forex Trading Idea

A pin bar pattern comprises a single price bar showing a distinct reversal and rejection of a currency price. It is usually a candlestick price bar. The reversal pin bar is recognized by its extended tail, known as a shadow or wick. The zone that lies between the opening and closing end of the pin bar is referred to as the real body. Usually, in the pin bar, the real body is small and the tail is longer. The tail shows the prices which have been rejected, implying that the price will continue to move in opposite direction to which the tail is pointing.

Pin bar can be categorized as a bearish pin bar and bullish pin bar. In a bearish pin bar, the real body exists at the lower end of the long tail, with tail representing the higher prices which have been rejected for attaining the lower price in near future. In a bullish pin bar, the real body lies on the upper end of the long tail, and here too, the tail represents the lower prices which have been rejected to attain the higher price in near future.

Tips for pin bar trading

1. First look for pin bars in market trends

In order to better your pin bar trading results, look for pin bars in trending markets. A trending market is that market where price is moving in a particular direction. It can be moving in an upward direction, downward direction, or horizontal direction. Although you can also find great pin bar opportunities in range-bound and counter-trend trading, they do not occur very often and it can be difficult to trade as compared to trending markets.

Focusing on pin bars in trending markets means that you will only be focusing on charts with market trends or pairs of currencies. To becomes successful in pin bar trading, you should learn about how to trade in trending markets on everyday chart and charts with 4-hour time-frame. To learn more about what are technical tools to learn how to forex trading in Sri Lanka, check out - Forex Chart Types, Chart Patterns, Candlestick Patterns, and Indicators.

2. Now look for pin bars at key support and resistance levels

It is not necessary that the market will always move in upward, downward, or sideways trend. Once you have learned about doing pin bar trading in trending markets, you can move to trade in other market conditions without trends. You can look for pin bars at the main support and resistance levels in the market. They can be strong points for a pin bar trading. If you want to know what is the support and resistance level and how to find them, you can refer to ‘Forex Trading with Support and Resistance Zones’.

3. Look for points where the tail is protruding from leading price movements

Protruding pin bar tail means when the tail is jutting out from the key levels resulting in incorrect breakout level. The pin bar is basically an indicator of reversal, and more the tail is sticking out from the key level, powerful will be the rejection and reversal. With the stronger reversal, there are more chances of pin bar trading strategy becoming a great success.

2 Reversal Trading Forex Trading Idea

Fundamentally, reversal trading is a counter-trend trading method. In this trading method, a trader enters the market against the direction in which price is moving. It helps in reducing the risks when the price movement begins the reversal trend.

It might seem a lucrative idea to get into the market at very high or very low price points in the market. Reversal trading can be done in two way, bullish and bearish. When the market is bullish, the reversal will occur when the price will start falling from a very high price point attained due to an upward trend. On the other hand, the bearish market, a reversal occurs when the price starts moving upwards after reaching a very low point due to a downward trend in the prices. While reversal can be a good trading position, it is a very risky method and is not appropriate for the beginners of the forex trade.

Types of Reversal Trading based on price movements in the forex market:

  • Upward trend - It is also recognized as uptrend. It comprises of successive price highs and trend eventually stopping with an absolute high price. Then the reversal starts at that absolute high price and then the price action starts moving downwards, reaching the absolute low after a series of lowest lows.
  • Downward trend - It is also recognized as the downtrend. It comprises of successive price lows before reaching an absolutely low price. When reversal begins, the price starts moving upwards, moving from higher highs, until it touches absolute high price.

Factors to consider when executing reversal trading method

As a forex trader, when you are executing a reversal trading strategy, it is better to consider some factors that can help you move your trade in the right direction. They are:

  1. Marketplace - There are many financial markets around the world and each of them comes with different and unique characteristics of its own. Forex market is one of them. It has many unique features. When you are entering the forex market, you need to consider factors like the trend, volumes, liquidity, etc. So that you understand what to expect and not to do in the forex market when trading, especially in reversal.
  1. Trade position - Any trader in the forex market would want to own a strong trading position and at a time when he or she can make big earnings. To enter with a reversal strategy with a healthy expectation of a good fortune, the necessary elements of the reversal must exist in the market when you are entering reversal trade. Using the market’s fundamental elements, technical elements and news from external sources affecting the forex market can help you identify the possibilities of the directions in which prices could move.
  2. Risks and Rewards - There is no trading without risks and rewards. Working with beneficial risks and rewards are significant parts of forex trading in reversal. As a result, it is important to consider risks and rewards before you enter into a reversal trade. By considering applicable stop loss level along with possible profits, you can make sure that earnings made from flourishing reversal trades surpass the trades where you failed.

3 News Trading in Forex Trading Idea

When it comes to forex news trading, it is perhaps one of the most fascinating and exciting ways of trading. The effects could be immediate in the form of quick profits or quick losses. With quick profits come quick satisfaction and with quick losses come quick discontentment. Basically, news trading is about trading in the forex market after a news has been released that can have the impact on the forex market price movements.

When you are getting into news trading, it is necessary that you gather the knowledge regarding which new releases are expected during that week. When trading news, you first have to know which releases are actually expected that week. Along with that, it is important for you to comprehend which information or data you should look out for when going for news trading. Some of the data you must follow from any economy are Interest rate fluctuations, Sales data, Country’s inflation rate, Unemployment rate,  GDP, Business reports and surveys, Consumer surveys, Trade balance, and many other economic indicators. Importance of the factors or news releases may vary depending on the current scenario of the concerned economy.

But, what you need to understand is that news trading is not everyone’s cup of coffee. It is especially not a good choice for beginners as it is very risky and can instantly turn the profits into losses. Even many experienced traders avoid new trading during the time when news can have a huge impact as it can be dangerous to trade during those times.

Tips for news trading in the forex market

1) It would help you place a trading order, if you know in which direction the market is currently moving, whether it is upwards, downwards, or sideways, and which direction it could move during the news trading. It is also referred to as directional bias when you place an order based on in which direction the market might move in future after the news release.

2) Try to figure out the fundamental reasons for why and how any news release affects the market and why it moves towards a particular direction after the news release.

3) When you are willing to place the trade based on a non-directional bias, it means you don’t care which way market prices move, you just want to place the order. It might be a good move under normal market circumstances, however, if the news released is of high impact, you might want to consider before placing the order.

4) Before placing an order based on the news release, it would be better if you check different reports to get a feel for what really is happening. Look for things like:

  • Which news reports will affect the price movements in the forex market.
  • Whether the news will be a high impact or low impact event.
  • At what news reports you should not trade in the market.
  • Keep track of how well prepared you are to take on the changes that might occur in the price movements after the news release.

5) Entering into the market without proper knowledge and preparation during a high-impact news release can turn out to be a disaster for your trading position. Take your time and get some practice. Do your research and evaluate the economic indicators to recognize how they impact the forex market.

6) Keep in mind that, when a news is released, its effect usually lasts from half n hour to 2 hours, and it can change based on the current scenario of the market. So make your trading plans based on that.

7) In case you have done a fundamental and technical analysis of the market for an expected news release, but when the actual news is released and market moves according to that, and the real movement does not match your expectations, do not go against the market trend. Just follow the market trend. It might be that you might have missed some details while making analysis or might have fully understood what effects might come upon the market on the release of the news.

8) Last but not the least, never be in too much hurry to get into a trade. Rushing into the things might prove to be a damaging move on your part. Look for the strong indicators, and make sure whatever news has been released in the market is genuine and not a hoax, and only then make your move to trade in forex market.

Just keep in mind that, nothing comes easy and you must put some efforts on your part to enjoy the benefits of the market conditions.

To learn more about technicalities in the forex market, refer to ‘ What are the must know the technical terms used in the Forex Industry that I should know ? ’ and if you want to hire forex brokers in Sri Lanka, refer to ‘ Where to trade Forex Online and type of Forex brokers ?

Some of the Best Forex Brokers

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October 17th, 2018

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What-Emotions-Should-You-Watch-For-In-Yourself-While-Trading-Forex-by-Prathilaba

Being emotional is part of being a human. But getting emotional when you are trading in forex market might not be such a good thing. You can’t avoid emotions, but what you can do is not let them influence your decision-making abilities. As a result, it is important that you understand what type of emotions you should watch out for while trading in the forex market. If you want to do forex trading in Sri Lanka , managing your emotions in a refined way would decide your ability to earn profit or loss in the forex market. The best way to approach your emotional dilemma is to understand your nature as a trader, find your strengths and weaknesses, and pick a trading method that will suit your psychology and financial standing.

Here are some of the most common emotions people feel when trading in the forex market:

Urge to over-trade in Forex market

A large number of forex traders, both novice and experienced, go through a temptation of over-trading. They make plans to overcome this temptation, which can be tricky at times. By formulating a well-defined management plan of action, you can get over the urge of overtrading and stay in the market in the long run while also maintaining and improving your trading position.

Fear

Fear is a part of trading in forex market where prices move up and down, and where there is no guarantee that you will not lose what you have earned, a few bad moves, and all might get lost. The fear of reaching a position where a trader might have to suffer losses can be damaging and the trader might also lose some of the very profitable opportunities out of fear.

Greed

Winning a few hefty trade deals can make a trader greedy for more and he or she might become less conscious or overconfident when trading in the forex market. Try to avoid being over greedy. Greed might work for you at times, but it can also make you reckless and you might start making too many impulsive decisions that might be harmful for your overall trading position. Greed can increase the risks and also encourage your gambling tendencies.

Hope

Hope is like a double-edged sword. It is good for life and trading, but having too much hope can be as damaging as too much greed and fear. If you have placed an order on the losing trade, you might be hoping that the loss will turn into profit in future. As a result, you may miss all the signs that the trade will go on the path of losses and continue with that trade. You might also enter into a bigger trade hoping that it will compensate all your previous losses, which might prove to be very risky. So be careful what you wish for or to be more specific, what you hope for.

Excitement and anxiousness

Getting excited and anxious is not unusual when trading in the forex market. When you are very anxious or excited while trading, it is often an indicator that you are working against the trading rules and expectations, or you have gotten into a deal where you are wondering whether it was a right or bad move, or you are gambling a high amount. The best way to handle this situation is to write down your feelings and figure out the reasons behind why you are anxious or excited and plan accordingly.

Retaliation or Revenge

Sometimes while trading in the forex market, you lose a great deal or face losses because of the actions of an opponent or another trader. You might feel very angry at this and in order to prove yourself better than your rival, you might want to retaliate against him or her. This can lead to a very bad example of risk management. Because results of revenge can be something you might not be ready to handle and it might have devastating effects on your trading and overall financial status. Decisions you will take in the throes of revenge might turn out to be bad business decisions.

How To Handle Your Emotions When Trading In Forex Market?

Mentioned below are a few tips on how to manage your emotions so that they won’t ruin your trading performance:

  1. Develop an effective trading plan. Good planning will help you bring down the level of risks involved in your trading methods and also help you get over your emotional outbursts without affecting your trading position and goodwill.
  2. After you have placed a trade order, do not keep going back again and again to keep track of it. Price movements might tempt you to make changes in your trade circumstances like you may want to move the stop loss or take profit level, which might not be good for your trading position. So simply place the order and then move away.
  3. After making profits or losses on a few successive trades, it is better to take a respite from the things. With too many profit deals you might become overconfident or with losses, you might make reckless or highly risky moves to make up for all the losses. Taking a break will help you take a look at everything you have done in your forex trading business and reflect on what you did right and what you did wrong.
  1. When you enter into a forex trading market, you get to learn lots of things and theories about how to trade in forex market. There are tried and tested methods of trading that are used by many forex traders across the world and with good results. You can use those methods when trading, instead of doing something that will give you doubts about your trading system. Effective and efficient trading techniques will keep you calm and help you control and manage your emotions.

To manage your emotions like fear, hope, greed, etc. you can start maintaining a forex journal. To know more about how to do it, you can refer to the article ‘  What is a Forex Trading Journal and Why I should use a forex trading journal ?  ’

Also if you want to to know how to trade forex in Sri Lanka, read ‘ Introduction to Forex Trading ’.

Some of the Best Forex Brokers

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October 17th, 2018

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Forex-Money-Management-–-Forex-trading-tips-that-you-need-to-know-to-be-a-successful-trader-by-Prathilaba

When it comes to doing forex trading in Sri Lanka, it is a lot more than just studying numbers, charts, patterns, and ratios. It also involves the personal skills and talent of the trader. However, even the best of forex traders work on improving and sharpening their skills with diligent preparation, training, and discipline. In order to become one of the successful forex traders in Sri Lanka, you should conduct a self-examination of whether you know exactly what you are doing, and understand on why and how you should avoid any kind of fear and greed when trading in forex market. Mentioned below are a few tips on how to become a successful broker, and how to trade forex in Sri Lanka successfully:

Learn, Practice and Be Patient

Now, it is essential to understand that before you get into a forex market, you are required to have some prior knowledge and understanding regarding how you will take trading decisions and implement them when trading in forex market. You should also know about what is the right time to enter and exit a forex trade. There are many ways to read a forex market. While some people prefer to do analysis involving the economic factors, some read charts, patterns, and trends in order to make a trading decision. It doesn’t matter what method you like to use, you would have to be consistent and be sure that you know what you are doing and that you are choosing the right method for yourself.

But for you to do that, first you would have to learn on how to do it and forex trading is not something you can learn overnight. You would have to put in lots of hard work, practice assiduously, and have patience when learning the changing mechanics of a forex market. Forming your foreign currency trading plan and developing the necessary skills will require time and patience, and the right opportunities will come your way. Also be smart when making trading decisions. Do hard work and smart work.

Use a Trading Journal Always

When trading in the forex market, keep a forex journal to keep track of how you are progressing in the forex market trading. These journals can be very convenient, especially when you are going through a negative phase in the forex market trading results. It can be a confusing and demoralizing situation for you. It might be difficult for you to figure out where did you go wrong with your trading decisions. In this situation, you can refer to your forex journal.

When you are looking for the answers to questions like ‘Am I making the right trading decisions?’, ‘Can I keep trading the same way I have been doing in the past?’ ‘is it time to change my approach or quit the market?’ and so on. It will be a lot easier to find answers to these questions if you can refer to past transactions.

A forex journal will help you to recognize the particular time intervals when you were not making the expected profits, although you had been following your pre-planned trading strategy without failing. In your journal you should enter the entry and exit time of your trade, the volume of the trade, market conditions, why did you enter the trade, your profits or losses, and so on. This will help you acquire the psychological control and discipline in order to execute your order successfully.

Have Enough Capital to Trade and Risk Only What You Can Afford to Lose

When you are entering into a forex market, you will not survive without sufficient capital in your pockets. Luckily, you can start trading in the forex market with small margin amount. Yet, it is an unwritten rule that you should not trade beyond what you cannot handle financially and psychologically.

Some traders think that the larger accounts will give them larger profits, but that is not always the case. In case any of your trading decision doesn’t sit right with market conditions, you might have to suffer heavy losses. Without enough capital, you might be putting yourself at a greater risk than what you can afford.

When entering a forex market trade, it is necessary to consider the risks involved and see if it is worth putting your money into it or not. Along with the risks, you must also consider the possible payoffs, and then make the final decision.

Avoid Fear and Greed

Fear and greed can be very damaging for your trading position in the forex market. It is important to control your raging emotions when trading. It might be perhaps one of the difficult impediments when you are operating in the forex trading market. Each and every time prices move up or down, you might feel tempted to buy or sell the currencies. But you must control your impulses until you are sure that market is moving in the direction you have been expecting. Getting greedy with rising prices, and fearing when prices are falling are not the appropriate traits to hold on to, especially if you want to be a successful forex trader in the long run.

Fear can stop you from forming a strong base in the forex market and you might also lose some very profitable opportunities. It is fear of losses that might lead you to sell your foreign currency too early while making a very small amount of profit. Know that fear can be controlled and managed by creating a proper and effective plan and maintaining patience and discipline.

Use Proper Take Profit and Stop Loss Value Ratios

When trading in the forex market, utilize right take profits and stop loss strategies to make the best out of existing market conditions and price movements. This could be a bit complicated. The objective behind this strategy is to get out of the trade when you are making good profits, instead of waiting for the prices to go down and then get out of the trade with the fear of hefty losses.

The eventual goal for forex market traders is to make best out of price changes so as to make profits at the right opportunities. With the careful implementation of take profits and stop loss strategies, you can improve your control over your trades and funds, and reduce the risks and maximize the profits.

If you want to learn about forex market analysis, you can refer to ‘ Fundamental and Technical Analysis in Forex Trading ’, ‘ What is the Price action trading analysis ? ’, and ' Forex Trading with Support and Resistance Zones ’.

Some of the Best Forex Brokers

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October 17th, 2018

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What-is-a-Forex-Trading-Journal-and-Why-I-should-use-a-forex-trading-journal-by-Prathilaba

To maintain a proper journal is always an important task when it comes to forex trading. The main purpose of doing this endeavor is to determine, monitor and keep the focus on your foreign currencies and their performance in the market, and to improve your overall portfolio of foreign exchange trading. A forex trader with discipline and organized knowledge is a moneymaking trader and having a forex trading journal is the initial phase of achieving that.

Keeping a forex trading journal might sound like an easy job, but to actually start one can be a bit confusing and difficult, especially if you are just starting to make your way into the forex market. As a matter of fact, several forex traders do not maintain a forex trading journal as they simply give up the task and rely heavily on the trading logs provided by their forex brokers. The trading logs provided by brokers contains your transaction history, but they are only slightly useful as they do not tell you why you bought or sold a currency.

A forex trading journal is more than just entering transaction records including beginning, finishing, and execution of the trade. It is also about improving your trading techniques and, understanding and transforming your own mindset. The forex trade journal is more concerned with the trader’s emotional mindset before and after the trade takes place.

Usually, a forex trading journal is maintained by many flourishing traders who want to maintain an objective outlook towards their foreign exchange trading circumstances so that they won’t get carried away in upward trends nor they will lose their money with wrong moves during downward trends.

If you want to do forex trading in Sri Lanka with successful results in the long term, keeping a forex trading journal will provide with a great insight that you will not get from the logs provided by your broker or from any other source.

Forex trading journal is prepared while keeping three main objectives in mind:

  1. Preparing and implementing an effective trading plan.
  2. Maintaining an advantageous trading system within the trading plan.
  3. Appraising and improving your trading strategies and performance.

Why Should a Trader Use a Forex Journal ?

As a trader, you might still be wondering why you need to maintain a separate forex trading journal when your broker is already providing you with real-time records of your trading transactions. The answer is forex journal offers a lot more than just the recording of your forex transactions. Given below are a few reasons as to why you need to keep your own forex trading journal:

1. For record purpose

Of course, the basic idea behind maintaining a forex trading journal is to record transactions for the future reference. Over a time period, the journal will become a place of your trading historical data, which you can use for decision making in the future. You will have a summarized record of all your trades and you will be able to keep track of each trade and check on the effects of every trade on your overall trading position in the forex market. Based on your analytical skills, you can gather lots of information from your collected and recorded data and use them for more beneficial market actions.

2. Helps in Planning and Preparation

While the main objective of creating a forex trading journal is recording data, it is also a great planning tool. It provides you with in-depth information about your trading history using which you can make your plans for future trading. You can set parameters for each trade deciding on when you want to buy or sell a currency, your price range, and how much risk you are willing to take without actually harming your profitability and trading position in the market. Basically, a forex trading journal can be your personal thoughts book where you not only record transactions, you also record your sentiments about each trade and where you want to take it from there. You can set goals and work towards attaining them.

3. Analyzing your trading style

One of the most important reasons for why you should keep a forex trading journal is that with time you can identify your trading methodology and work on improvements where you think necessary. You will be able to track your trading performance through forex trading journal and see how well your trading style is performing in the changing market circumstances.

4. Learn to create healthy investment habits

Perhaps one of the best parts of maintaining your own forex trading journal is that you can see where you are going wrong with your investment habits, and thus you can change your damaging habits to something more creative, constructive and profitable actions. With more and more improvements in your investment style that can also give you more profits and strengthen your portfolio, your confidence will increase in your ability to make sound investments in foreign exchange market and make the valuable decisions during volatile market conditions.

Main Constituents Of Forex Trading Journals

When it comes to preparing forex trading journal, you can prepare it in the way, which is most convenient for you. The best and easiest way to approach it is that

Whenever you complete a trade, note it down in an excel sheet or a notebook along with the reasons for why you entered into that trade. That way you will be able to analyze your past trading decisions to get a better outcome in the future.

Given below are some of the basic elements that you must keep in your forex trading journal pertaining to each of your trade:

  1. Time – Here, you will record the time when the trade was initiated. You can also note the market conditions and why did you enter into that trade.
  2. Exchange rate– Here, you will record at what exchange rate the transaction was implemented. Along with the exchange rate, you can also add the rate at which you would like to go out of the trade, and how much risk you are prepared to take and what could be your stop order level.
  3. Size– Here, you will record the size of the lot you bought or sold during the trade. This piece of information is very important as it will help you in managing your money in the correct way.
  4. Outcome - Here, you will record the final outcome of your trade. You can note down whether you managed to achieve the results you were looking for and if not to what extent you managed to get close to your desired results, or you had losses.

If you want to know more about how to trade forex in Sri Lanka, analysis of forex trading in Sri Lanka, how forex brokers operate, and many other things you can refer to, Introduction to Forex Trading ' and other related articles.

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October 17th, 2018

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