Thursday, October 8, 2009

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What is the Easiest Way to Make Money?

It is one of the simplest topics that can attract huge amount of audience – “What is the easiest way to make money?” Believe, like anything in life, there are easier ways to make money. There are easier ways to making profitable trades, to earn from a business, to earn from a profession etc. The easiest ways to make money from anything share one fundamental aspect.

It need not always be the harder way. Why people choose such paths is entirely upto them for various reasons. Sometimes even those who choose to earn money easiest way do so out of some excitement that drives them. Once the excitement dies down they cannot continue doing it more. It can be because some may not persist without variety.

Cheating is Obvious, but that is Not

The first thing that can come to anyone’s mind is cheating. Of course, that is apparently easiest way to make money. Note that it is only apparently. There are some consequences to it that affect the repeatability of the action.

Then What is it?

All of the easiest ways to make money share one fundamental aspect. It is to find loop holes in a system. Don’t confuse it with cheating. On the outset taking advantage of loop holes in a system might look just like cheating. But it is not. Loop holes are there because of imperfect design or incomplete testing in real time.

This also means that the loop holes may not stay all of the time. They will get closed once discovered. But you can always think of a way to avoid being detected, or find a new loop hole or find a new thing where loop holes aren’t yet discovered. As it is clear by now, we need to be persistent in finding loop holes one after another in a given system and move on to another if one is exhausted.

You may start worrying about competition. Yes there can be competition. But it is your choice to discover loop holes that benefit you most even when you share them with others, instead of getting you a competition. Alternatively finding loop holes itself can be a hard task to many. They may not be interested. If you are in for the money, and like to take challenges, may be you are the right one to feel that it is easier to take this route.

And mind that when I say loop holes I mean the loop holes that allow you do certain things legally till the rules are changed. Some people who work harder won’t like that and hence change the rules.

Some of the stock trading scams (as we see them now) by 20th century trader Jesse Livermore are based on Loop Holes. He used to take advantage of his reputation though he very well can trade stocks the right way. Actually he used to do both, based on what is possible at that time. Once his tactics are discovered in Great Depression 1.0 around 1930, all those activities are banned and considered as illegal. Till then he was the king of the worst bear market of all time in history because he took advantage of loop holes.

Loops Holes Involve Repetition

Though taking advantage of loop holes is easiest way to make money, doing this can be a boring task. Finding loop holes in a system can be challenging but to take advantage of them we need to do some actions repetitively. If you can do that easily then there is nothing stopping till the loop holes are closed.

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