OctaFX’s Five Expert Life Hacks: Earning on Black Friday Instead of Just Spending

KUALA LUMPUR, MALAYSIA – Media OutReach – 22 November 2021 – The international Forex broker
OctaFX has ventured to think outside the box once again. While most people and
businesses concentrate on spending and selling stuff at steep discounts, OctaFX
offers opportunities to earn money and increase income during this global mass
purchase-fest. The fintech firm bundled some influential financial experts to
outline five easy approaches to increase income during the Black Friday season.

Take Advantage of Shortages on the
Job Market

Searching
for a part-time job sounds obvious enough, but surprisingly, people rarely
notice this opportunity—at least not as many as one would suspect.

Many
employers are actively looking for motivated new team members during those
exceedingly busy cycles—this aspect concerns the lack of workforce, especially
in sales, IT, or design. Particularly the IT sector is in dire need of
supporting its websites’ overload with additional personnel. Applying ahead of
a season like this can give you another advantage over latecomers.

Investing Ahead of Time

Although
this sounds relatively straightforward, the proposal here is that the stock
market is expected to be very volatile during such days. Paying attention to
some companies’ stocks, whose products could very likely be in high demand
during sales season, could prove lucrative. If you feel late for Black Friday
in this regard, the Christmas season might be just far enough to apply this
strategy successfully. The approach gains more traction the earlier you
consider and finalise the investment.

Trading Foreign Exchange

Factually,
all Forex brokers launch some kind of promotional initiatives during seasons
like Black Friday. The secret is how to find the most reliable, profitable and
advantageous ones.

You
have to research the promotional conditions well. The track record of past events is
indicative of a trustworthy broker, too. Usually, you can discover their offers
around 1-2 weeks before the event.

‘In
the financial market, such as Forex, these “promotional” periods apply, too.
When we devise technical analysis at such a time, we do it by a method called
“seasonal analysis”,’ explains the recipient of the Most Popular FX Trainers in Malaysia award, Kar Yong Ang.

Likely,
your favourite currency pair or the most popular one on the market has some
great and unique conditions in terms of special spread or leverage offers. This
holds true not only for classical fiat currency pairs but also for the
relatively novel market of cryptocurrencies—especially the ones paired with
bitcoin (BTC).

Take Advantage of Retail Prices

This
option might be obscure since it actually represents the act of purchasing. But
again, the more you research the offers, the better chance you’ll have at
catching the best retail price for an item you would’ve purchased anyway. This
strategy becomes even more powerful if you consider the well-observed fact that
an item usually increases in price after the Black Friday season compared to
before the season.

The
Top Forex Analyst in Asia by WikiFX
of 2019, Kar Yong Ang, highlights: ‘Implementing a traditional business plan,
you could buy certain goods beforehand, only to sell them at a considerably
higher price after the season. Leveraging on such promotions can generate
decent sales and thereby profits’.

Once
again, if the current discount extravaganza has left you unsure about your
timing, don’t forget about the upcoming Christmas season. In terms of buying
goods, it often even surpasses the Black Friday conditions.

Sometimes Not Spending as Much
Money Amounts to Having Earned it

If
you saved money on a purchase, then this could be considered earning.

Buying
products, stocks, real estate, or currencies should never be emotional. When
money is involved, you should implement a patiently pre planned strategy.
Proceed according to this framework and try to avoid impulsive buying.
Purchasing by impulse can make you end up at a loss.

Financial
expert Kar Yong Ang agrees and adds, ‘I will usually wait for my purchases’
discount during those days since we are talking about up to 40% off the
original price’.

So
the critical point manifests notably in the trader community—developing and
holding on to this psychological discipline enriches your overall spending
strategy. It becomes even more crucial during the whole sales season. Thus,
invest enough time in personal development, and if something goes wrong during
the plan implementation, do not worry.

Gero
Azrul, who won the Traders Awards
Malaysia 2020 award, further extends this piece of advice: ‘You should
consider mistakes as part of a conscious training process towards greater
financial sovereignty later’.