Have you noticed that when someone's trying to sell you
something - such as a system for making money - they always make
it look far easier than it is? Let's look at two Internet
businesses, almost as diametrically opposed as it's possible to
be - Internet Marketing and Forex Currency Trading.
You've probably heard the old Internet adage - build a better
website and they will come. Well it ain't true! You could put up
a site advertising dollars for a dime and they still wouldn't
come - because they wouldn't know where to look!
Let's look at what you need to have in place in order to build
a successful Internet marketing business.
First of all, you need a product. If you've been reading the
recent Internet marketing blurb you'll know you need a niche
product. Actually, the new thing is sub-niche but whatever they
call it, you need a product for which there is high demand but
low supply.
Finding a suitable niche is the hardest part of the whole
process but let's say you have a killer product, what else do you
need?
The List.
Ask any Internet marketeer and they will say that the most
important part of your business is your opt-in list. For people
to join your list you usually have to give them something of
value such as a free eBook or report on a subject related to your
main product line. To keep them interested, you need to keep in
touch with them offering them additional information, advice and
tips.
Website.
To promote your opt-in list you need a website (although there
are other ways of promoting your list, too) with features that
will encourage people to sign up to your list.
You also need a killer website with killer copy to describe -
and sell - your killer product. This may or may not be the same
as the one you use for your opt-in list.
Killer copy.
Maybe you're not a good copywriter. There are many eBooks on
the subject that can help you or you can pay someone to write
copy for you.
You need a domain name, preferably one with some relation to
the product but good domain names are becoming increasing
difficult to find.
Ads.
To get people to visit your website in the first place you
need to register it with the search engines.
SEO (Search Engine Optimisation) is an art in itself. You can
mug up on the subject or pay someone to do the job for you (but
be aware that not all experts are!).
You might also want to place ads for your list in newsletters
and ezines. The better ones will charge you although you might
get a free ad in return for an article.
Autoresponder.
To automate your business you need an autoresponder. These
clever devices automatically send emails to everyone on your
opt-in list at predetermined intervals, and contain predetermined
copy.
For example, you could create a series of emails containing,
say, five parts of a free course to be sent one a day over the
first five days. Then emails would be sent once a week
advertising a different product each time.
Whenever anyone signs up to your list they automatically start
at the beginning so everyone gets the full cycle of marketing
material.
We haven't even looked at affiliate sales and marketing but
I'm sure you get the picture. The basic idea of selling over the
Internet sounds good but there's a lot more to it than most
people realise.
Forex Currency Trading
Someone said that trading is the last frontier, the last place
where men and women can stand up and pit themselves against the
world.
It sounds very Wild Westish but most of it is true! You win or
lose entirely by your own efforts and if you win, it's like
having your very own bank.
However, even owning a bank is a business and you still have
to work hard to put the money there - and to keep it!
Unlike Internet marketing where all your efforts, in one form
or another, are geared towards making people join your list and
then selling them stuff, Currency Trading has no customers.
That's worth repeating - with currency trading, you don't need
customers.
No customers means you don't need any of the associated
accoutrements that go with Internet marketing such as:
Products
Web site
Domain name
Opt-in list
Ads
eBooks and reports
Autoresponder
Any other marketing aids
So far so good, but what do you have to do and what do you
need? Well, you need to know what currency prices are doing.
You can get a list of prices at the close of each trading day
free from many web sites. If you want to trade during the day -
intraday trading, you can get real-time prices for a nominal fee
from several data suppliers. In the foreign exchange currency
market, commonly called forex, you can get this data and charting
software free from many web sites.
Okay, that's the easy bit. In order to trade currencies, you
need to analyse the data and determine which way price is
heading. In other words you need a system and this will require
study and dedication.
There's lots of other stuff you have to know, too - trading
terminology, margin, leverage, money management, order types,
trader psychology and more.
But all of this is available in eBooks and courses and on the
Net.
You also need some money upfront to fund your trading account.
With forex you can begin with as little as $300-500 although you
would be advised to start with more.
So while you don't have the ongoing quest for new customers,
new products and inventive sales techniques, you do need some
sort of education or training before you begin and you need
discipline while you're trading.
For more information on getting started with forex currency
trading, go to: www.webkept.com
Making money takes work whether it's online or off. Make sure
you know what's involved before you start and remember that the
more you put into a business, the easier it gets.
From the author of the hit Forex book - "Mechanical
Discretion", Amin Sadak has created another masterpiece for
Business Opportunists. His new teaching manual "The Affluent Desktop Currency
Trader" provides an alternative for people looking for online
business opportunities.
Amin teaches the method he uses to download $1000 every week
with Forex Currency Trading.
Sri Lanka Rupee, Stocks Drop After Currency Trading Band Removed Bloomberg The central bank narrowed the currency's trading band against the dollar on Feb. 3 and Feb. 6 and today, prior to announcing its removal. The monetary authority raised benchmark interest rates for the first time since 2007 on Feb.
India Eases Currency Trading Limits for Some Banks Wall Street Journal By SUDEEP JAIN MUMBAI -- India's central bank has asked banks to approach it individually for relaxing some foreign currency trading limits and has already eased restrictions for some banks, a top official said Monday. "Some limits, based on their ...
iFOREX Adds Oil to its list of Tradable Commodities MarketWatch (press release) ROAD TOWN, Tortola, Feb 09, 2012 (BUSINESS WIRE) -- Leading currency trading company, iFOREX, has recently expanded its services, giving all Forex trading accounts direct access to oil CFDs. Targeting an audience that has little or no experience with ...
This January Azerbaijan's exchange currency trading totaled $82.5 million Azerbaijan Business Center Baku, Fineko/abc.az. The Baku Interbank Stock Exchange (BBVB) has renewed statistics of its operations. BBVB reports that in January 2012 the nine participating banks concluded 28 deals in 36 trading sessions in e-trading system (BEST).
FOCUS: Technology Buoys Retail Currency Trading, Reshapes Old Models Wall Street Journal By Eva Szalay Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Retail foreign-exchange trading is emerging as one of the biggest growth areas in the currencies space, and some of the trading firms that facilitate these flows are building up a whole new ...
Morgan Stanley Currency-Trading Head Stephen Mettler Leaves Bank BusinessWeek By Michael J. Moore Jan. 26 (Bloomberg) -- Stephen Mettler, who oversaw Morgan Stanley's interest rates and foreign-exchange trading businesses, has left the bank. Mettler, who joined the firm in 1997, retired, according to an internal memo obtained by ...
Bank of England and ECB Hold Steady, Indonesia Cuts CNBC.com [CNBC] ----------------------- MULTI CURRENCIES VS THE DOLLAR Tune In: CNBC's "Money in Motion Currency Trading" airs on Fridays at 5:30pm and repeats on Saturdays at 7pm. Learn more: The essential vocabulary for currency trading is on Key Currency ...
RELATED ARTICLESOptions Trading -
Advantages and Disadvantages
What is Options Trading?An option is simply granting
someone the right to buy or sell something in the future.
In the case of Dow index futures options, when someone buys
a Dow call option they are buying the right to purchase
that underlying Dow future at a specific price, known as
the "strike price," at a future point in time, known as the
"expiration date.
Adaptation to the
Realities of the Market
Do you think adaptation to the realities of the market is
the most important thing?Many times in the past I've
written about the need to adapt, the need to be able to
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to the life of markets.
Trading
Timeframes
Long term traders will work from end of day data
and look to hold trades for a few weeks up to many months.
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Forex Options Market
Overview
The forex options market started as an over-the-counter
(OTC) financial vehicle for large banks, financial
institutions and large international corporations to hedge
against foreign currency exposure. Like the forex spot
market, the forex options market is considered an
"interbank" market.
Business and the
Forex
The business world is a complex web of supply and demand.
Money and goods, physical or otherwise, pass through the
global market every single day.
How Currencies are
Traded in the FOREX Market
Currencies are traded in dollar amounts called "lots". At
100:1 leverage, one lot is equal to $1000 which controls
$100,000 of a given currency.
Forex Trading Online - 7
Reasons Why You Should!
Forex trading online is a fast way to use your investment
capital to it's fullest. The Forex markets offer distinct
advantages to the small and large traders alike, making
Forex currency trading in many ways preferable to other
markets such as stocks, options or traditional futures.
Don't Deny
Reality
If you want to be a successful trader, you must make sure
you do not deny reality in any phase of your trading. You
cannot deny losses, price direction, mistakes you make,
being undercapitalized, or a whole host of things you would
rather not think about.
Forex Made Easy for
Everyone
Forex made easy is as simple as you would want it to be.
The foreign exchange market is a worldwide market and
according to some estimates is almost as big as thirty
times the turnover of the US Equity markets.
Assessing the
Opportunities Presented by the New Iraqi
Currency
Could it be possible that you are staring right into the
most spectacular financial opportunity of the century?
Operation: Iraqi Freedom will undoubtedly be a war marked
in history for loss and tragedy, American victory, and the
rise of a nation with a new democratic government. But
could it also be a war historically remembered for the
financial opportunity it created for the sharp investors
who keenly recognized an ephemeral chance at the right
time?The War on Iraq ended with a nation placed on the
footstool of many new operations.
Stocks Trading -
Advantages and Disadvantages
What is Stocks Trading? Companies throughout the world issue
new stock shares every day. They do so to raise capital in
order to invest in the business.
What I Learnt Losing
£60,000 My First Year as a Full-time
Trader
During my first year as a local (independent trader) on the
floor of LIFFE, I bought and sold 8804 FTSE futures
contracts, about 40 contracts per day on average. The
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day.
Why Demo Account
Performance Is Often Better Than Real Account
Performance
Over the past several years, the popularity of online
currency trading has grown substantially. Each day, online
FX brokerage firms attract new investors - each of them
lining up with a glint in their eye, lured in by promises
of easy money.
The Secrets of the
Super-Traders
The first and perhaps most important "secret" is to realize
that your methodology or approach (no matter how good) is
only part of being a highly successful trader. This applies
to any trading style including, day trading, swing trading
or position trading.
Commodity Trading -
Advantages and Disadvantages
What Is Commodity Trading? Commodity futures markets allow
commercial producers and commercial consumers to offset the
risk of adverse future price movements in the commodities
that they are selling or buying. In order to work a futures
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Example of a Profitable
Transaction in FOREX
To make a profit, in the FOREX, a trader can enter the
market as a *buy position* (known as going "long") or a
*sell position*(known as going "short"). For discussion,
let's assume you've been studying the EURO.
Momentum Trading: A
Practical Day Trading Strategy to Get Profits from Hot
Stocks
Momentum day trading can be extremely profitable when done
correctly..
The Nature of the
Trading Business
Consider the following: As a trader you are in a business.
Your strongest opponent has plenty of capital.
How to Trade
Currency
We all know when you go on a trip to another country; you
need to take some travelers checks and some cash in the
currency of that country. This can be advantageous because
one country's currency is usually worth more or less than
the other.
Where to Get Forex
Training
For those of you who are interested in forex trading, you
may want to start off by getting some good forex training.
Forex training is a necessity for anyone with this
interest.
MORE RESOURCES updated Thu. February / 09 / 2012
