It’s easy to be a sucker on the internet. Every where you turn, there is some “guru” offering the hottest way to generate money on the internet. I should know… when I began to look for a way to make money to put myself through college, I got burned by a real estate scam for $3500.Even after that, my stubbornness got the best of me, and I kept looking for a way to generate an income. I bought into all kinds of crappy hype and believed what every internet “guru” tried to sell me. I ate up the hype, read all the sales letters, looked into all the programs, and I spent a lot of money along the way.
Perhaps you’ve wasted your money on the latest internet craze in hopes of figuring out how people are making money on the internet. You keep looking for more, and you look at page after page that all promise to make your financial worries disappear. Some people buy into the hype and get burned, while others cast it aside, afraid of getting burned.The “gurus” want you to be able to spoon-feed information to you.
That way, you only know as much as they allow you to know. If you are at the mercy of some supposed big shot, then you can never outdo him, and you will continue to buy whatever he recommends.That’s how they become “gurus” in the first place, isn’t it?Even though it was one of those “gurus” that ripped me off, I continued to read everything that I could get my hands on, and I tried everything that I could to make money on the internet.
I took surveys, I wrote ads for companies, I tried MLMs, and I bought the ebooks by the big shots.If that is you, I feel for you, because I can relate. In fact, if you are in a position where you are absolutely desperate for funds, and you don’t know where the next paycheck is going to come from, please, do not spend your last dollars here.No ebook, no set of videos, and no money making program is going to make your problems disappear. No program, including mine, will allow you to make gobs of money without clicking a button.With that said.
Social Networks such as Facebook and MySpace receive hundreds of millions of visitors every single day.At the time of this writing, Facebook is bringing in up to 100,000 new members every week! I’d be willing to bet that either you or someone in your household has a membership to at least one social network.And it’s NOT just teens and college students! In fact, the largest demographic on MySpace is the middle aged group. That’s right, there are more adults on the social networks than there are kids. Furthermore, it’s these types of people that are most likely to spend money on the internet.
http://www.ebusinessreviews.net/
Wednesday, August 26, 2009
Making Money Blogging in 10 Steps
Firstly, we all want to know How to Make Money Online, and one of the best ways I have found is by creating blogs. In this article I intend to show you how you too can learn How to Make Money Blogging by telling you how combining the techniques I have gathered from across the web helps to make me $$$ every day. Secondly, I am not trying to sell you my latest “Get Rich Quick” scheme because I don’t have one. Each eBook you read will have a wealth of information within them which will, without a doubt help you to discover the secrets of How to Make Money Online. I am only going to tell you which ones out of the 100’s available you SHOULD read if you too want to make lots of money.
I use a 10 step guide to setting up and starting all of my blogs.
I will give you a list of the top 10 resources later that I use and recommend to everyone who is serious about making lots of money online. One of the vital aspects people seem to miss out when they first get into blogging is the fact that their blog must contain information that people want to read.
Many bloggers are looking through closed eyes in this regard and if you browse through 50 blogs you will notice that most will tell you they know How to Make Money with Blogs when really all they tell you is where they went on their vacation or how many cars they have.
Are you ready to learn How to Make Money Blogging?
If the answer is YES then read on and start to make money with your blog. I am not here to tell you how to write your blog, that’s up to you, but what I am about to tell you is the 10 things I use to make money on the internet. You can choose to use these techniques or not, that’s your prerogative.
Step 1 – Finding a Topic
Turn off your computer, grab a pen and some paper and sit somewhere you can relax but also stay focused (if you are just starting out this step can be a pain because we all want to know How to Make Money Online and we want to know how to make it NOW). Think of a topic you are interested in and write it down (this helps because you will be more committed to trying instead of giving up in a day or two) and also make sure it is something other people are interested in too. A couple of ways I use to think of a topic is by using MetaSpy to find out what people are searching for, Ask IQ to find what’s popular and VRE Toolbar to find out how many people search for the topic (this is also useful later on to get traffic). Write down your top five keywords, you will want to use them later in your blog.
Step 2 – Create Your Blog
Find and create your blog online. I like to use Blogger but other popular Blog platforms are Wordpress and Movable Type. You can find all the help in the program you use to get information when setting up the blog. Create your content, make it original, and make it informative. This is one of the main keys to learn How to Make Money with Blogs. You need to include the keywords you wrote down in Step 1 in the content of your blog. Try not to overuse these as it sends out bad signals to the search engines, and this is 100% not what you want.
Step 3 – Go Google
Sign up for Google Adsense and insert the code in the margin of your blog. You can customize your ads in many ways, such as including text links or image links. I prefer the text links only, as they are easier to blend in with your blog and don’t take the focus away from the information. Google Adsense will probably not make you a millionaire but it is an instant way of generating a small amount of money.
If you want to track where your visitors are coming from with regards to direct hits or from search engine results then I would suggest you use Google Analytics and again you can get all the help you need setting that up from within the program.
I use a 10 step guide to setting up and starting all of my blogs.
I will give you a list of the top 10 resources later that I use and recommend to everyone who is serious about making lots of money online. One of the vital aspects people seem to miss out when they first get into blogging is the fact that their blog must contain information that people want to read.
Many bloggers are looking through closed eyes in this regard and if you browse through 50 blogs you will notice that most will tell you they know How to Make Money with Blogs when really all they tell you is where they went on their vacation or how many cars they have.
Are you ready to learn How to Make Money Blogging?
If the answer is YES then read on and start to make money with your blog. I am not here to tell you how to write your blog, that’s up to you, but what I am about to tell you is the 10 things I use to make money on the internet. You can choose to use these techniques or not, that’s your prerogative.
Step 1 – Finding a Topic
Turn off your computer, grab a pen and some paper and sit somewhere you can relax but also stay focused (if you are just starting out this step can be a pain because we all want to know How to Make Money Online and we want to know how to make it NOW). Think of a topic you are interested in and write it down (this helps because you will be more committed to trying instead of giving up in a day or two) and also make sure it is something other people are interested in too. A couple of ways I use to think of a topic is by using MetaSpy to find out what people are searching for, Ask IQ to find what’s popular and VRE Toolbar to find out how many people search for the topic (this is also useful later on to get traffic). Write down your top five keywords, you will want to use them later in your blog.
Step 2 – Create Your Blog
Find and create your blog online. I like to use Blogger but other popular Blog platforms are Wordpress and Movable Type. You can find all the help in the program you use to get information when setting up the blog. Create your content, make it original, and make it informative. This is one of the main keys to learn How to Make Money with Blogs. You need to include the keywords you wrote down in Step 1 in the content of your blog. Try not to overuse these as it sends out bad signals to the search engines, and this is 100% not what you want.
Step 3 – Go Google
Sign up for Google Adsense and insert the code in the margin of your blog. You can customize your ads in many ways, such as including text links or image links. I prefer the text links only, as they are easier to blend in with your blog and don’t take the focus away from the information. Google Adsense will probably not make you a millionaire but it is an instant way of generating a small amount of money.
If you want to track where your visitors are coming from with regards to direct hits or from search engine results then I would suggest you use Google Analytics and again you can get all the help you need setting that up from within the program.
Staking Plans - What's The Best Staking Plan To Use When Trading Forex?
One of the best things you can do if you're serious about becoming a profitable forex trader is to learn all about money management. This is because capital preservation is just as important as the actual system you use to generate your profits. Therefore to protect your capital you need to use an effective staking plan.
Most people agree that whenever you place a trade you should never risk more than 2-3% of your capital. So if you use a staking plan of 3% per trade and have $1000 in your trading account, for example, then you would be prepared to lose no more than $30.
I'm broadly in agreement with this. I think 3% is just about right for people new to forex trading. However you should of course have a good trading system in place before you start trading with real money.
You should also try and look for trading opportunities that if successful would give you much greater returns than your initial stake. So for instance if you were risking 3% per trade then your trading system should ideally look to take profits in the region of 6% or more. In other words if you are risking 3% of your capital using a stop loss of 30 points, then your target price should be 60 points or more.
If you want to take this one step further you can do what I do and exit your position in two stages. Regular readers will know that whenever I trade my 4 hour trading strategy, I always close half the position for around 50 points before moving my stop loss up to break-even and letting the other half run for as long as possible. That way you can sometimes achieve total returns in the region of 10% or more from a single position.
Once you have every confidence in your trading system, you can start thinking about increasing your stakes slightly. For example, if I'm really confident about a particular set-up I will sometimes risk as much as 5%, however I wouldn't recommend going any higher than this.
For the most part I think 3% is just about the ideal staking plan. Your losses are contained if you suffer a few losing trades but if you develop a winning system. then your account will grow very nicely in the long run because your stakes will go up in accordance with your trading account.
Most people agree that whenever you place a trade you should never risk more than 2-3% of your capital. So if you use a staking plan of 3% per trade and have $1000 in your trading account, for example, then you would be prepared to lose no more than $30.
I'm broadly in agreement with this. I think 3% is just about right for people new to forex trading. However you should of course have a good trading system in place before you start trading with real money.
You should also try and look for trading opportunities that if successful would give you much greater returns than your initial stake. So for instance if you were risking 3% per trade then your trading system should ideally look to take profits in the region of 6% or more. In other words if you are risking 3% of your capital using a stop loss of 30 points, then your target price should be 60 points or more.
If you want to take this one step further you can do what I do and exit your position in two stages. Regular readers will know that whenever I trade my 4 hour trading strategy, I always close half the position for around 50 points before moving my stop loss up to break-even and letting the other half run for as long as possible. That way you can sometimes achieve total returns in the region of 10% or more from a single position.
Once you have every confidence in your trading system, you can start thinking about increasing your stakes slightly. For example, if I'm really confident about a particular set-up I will sometimes risk as much as 5%, however I wouldn't recommend going any higher than this.
For the most part I think 3% is just about the ideal staking plan. Your losses are contained if you suffer a few losing trades but if you develop a winning system. then your account will grow very nicely in the long run because your stakes will go up in accordance with your trading account.
Sunday, August 23, 2009
Forex Fundamental Analysis
What is fundamental analysis?
Fundamental analysis in Forex is a type of market analysis which involves studying of the economic situation of countries to trade currencies more effectively.
It gives information on how the big political and economical events influence currency market. Figures and statements given in speeches by important politicians and economists are known among the traders as economical announcements that have great impact on currency market moves. In particular, announcements related to United States economy and politics are the primary to keep an eye on.
What is economic calendar?
Economic calendar is created by economists where they predict different economics figures and values according to previous months. It contains next data:
Date — Time — Currency — Data Released — Actual — Forecast — Previous
For example: If the forecast is better than the previous figure, then US dollar usually is going to strengthen against other currencies.
But when news are due, traders have to check the actual data.
If to look at oil prices, a rising price will result in weakening of currencies for countries which depend on huge oil import, e.g. America, Japan.
A good example of detailed economic calendar can be found here: Forex Economic Calendar
How to read Forex Economic Calendar?
Whose speeches to keep an eye on?
Chairman of the Federal Reserve Bank of USA, Secretary of the Treasury, President of the Federal Reserve Bank of San Francisco and so on. Speeches of those prominent people are watched closely by traders.
What are the most powerful figures that move Forex market?
Interest rate
Traditionally, if a country raises its interest rates, its currency will strengthen because investors will shift their assets to that country to gain higher returns.
Employment situation
Decreases in the payroll employment are considered as signs of a weak economic activity that could eventually lead to lower interest rates, which has negative impact on the currency.
Trade balance, budget and treasury budget
A country that has a significant Trade Balance deficit will generally have a weak currency as there will be continuous commercial sellings of its currency.
Gross Domestic Product (GDP)
GDP is reported quarterly and is followed very closely as it is a primary indicator of the strength of economic activity.
A high GDP figure is usually followed by expectations of higher interest rates, which is mostly positive for the currency.
Less powefull economic indicators are:
Retail sales
It is the first real indicator of the strength of consumer expenditure.
Durable goods
Rising Durable Goods Orders are normally associated with stronger economic activity and can therefore lead to higher short-term interest rates, which is usually supportive for a currency.
How do traders use all this?
There are few useful tips that can be followed:
1. Keep an economic calendar on hand. Watch for the events when data are due to be released.
2. Know what indicator is gaining the most of attention at any given time as it becomes a catalyst for future price moves. For example, when the U.S. dollar is weak traders will watch closely the inflation indicator.
3. When the difference between the expectations and real results occur, watch for corrections in the market price moves.
4. Pay attention to news revisions if any, the situation on the market can change quickly.
Another important thing to consider — your Forex Broker!
Because of the high volume of trades made at the time of important economic announcements some brokers may block or slow down the execution of new trading orders.
For traders it means they should enter the trade before the "major action" begins and, what is more important, they must always have their protective stops placed. Being not able to access the trade desk to close your losing position in time is the most frustrating thing traders should always try to avoid.
Fundamental analysis in Forex is a type of market analysis which involves studying of the economic situation of countries to trade currencies more effectively.
It gives information on how the big political and economical events influence currency market. Figures and statements given in speeches by important politicians and economists are known among the traders as economical announcements that have great impact on currency market moves. In particular, announcements related to United States economy and politics are the primary to keep an eye on.
What is economic calendar?
Economic calendar is created by economists where they predict different economics figures and values according to previous months. It contains next data:
Date — Time — Currency — Data Released — Actual — Forecast — Previous
For example: If the forecast is better than the previous figure, then US dollar usually is going to strengthen against other currencies.
But when news are due, traders have to check the actual data.
If to look at oil prices, a rising price will result in weakening of currencies for countries which depend on huge oil import, e.g. America, Japan.
A good example of detailed economic calendar can be found here: Forex Economic Calendar
How to read Forex Economic Calendar?
Whose speeches to keep an eye on?
Chairman of the Federal Reserve Bank of USA, Secretary of the Treasury, President of the Federal Reserve Bank of San Francisco and so on. Speeches of those prominent people are watched closely by traders.
What are the most powerful figures that move Forex market?
Interest rate
Traditionally, if a country raises its interest rates, its currency will strengthen because investors will shift their assets to that country to gain higher returns.
Employment situation
Decreases in the payroll employment are considered as signs of a weak economic activity that could eventually lead to lower interest rates, which has negative impact on the currency.
Trade balance, budget and treasury budget
A country that has a significant Trade Balance deficit will generally have a weak currency as there will be continuous commercial sellings of its currency.
Gross Domestic Product (GDP)
GDP is reported quarterly and is followed very closely as it is a primary indicator of the strength of economic activity.
A high GDP figure is usually followed by expectations of higher interest rates, which is mostly positive for the currency.
Less powefull economic indicators are:
Retail sales
It is the first real indicator of the strength of consumer expenditure.
Durable goods
Rising Durable Goods Orders are normally associated with stronger economic activity and can therefore lead to higher short-term interest rates, which is usually supportive for a currency.
How do traders use all this?
There are few useful tips that can be followed:
1. Keep an economic calendar on hand. Watch for the events when data are due to be released.
2. Know what indicator is gaining the most of attention at any given time as it becomes a catalyst for future price moves. For example, when the U.S. dollar is weak traders will watch closely the inflation indicator.
3. When the difference between the expectations and real results occur, watch for corrections in the market price moves.
4. Pay attention to news revisions if any, the situation on the market can change quickly.
Another important thing to consider — your Forex Broker!
Because of the high volume of trades made at the time of important economic announcements some brokers may block or slow down the execution of new trading orders.
For traders it means they should enter the trade before the "major action" begins and, what is more important, they must always have their protective stops placed. Being not able to access the trade desk to close your losing position in time is the most frustrating thing traders should always try to avoid.
Forex Trading Systems
Forex trading systems: where to find, how to improve. Forex trading systems classified.
Where to find a good Forex trading system ?
If you want to be consistently successful in Forex, you need a trading system.
Beginner traders as well as experienced investors always search for the newest more efficient ways to trade and profit in Forex
Whether you are looking to write your own Forex trading system or borrow and
improve an existing one, there are several, so far the best, websites,
which could be of a good help
Forex-tsd.com — huge resource, known mostly for its best custom made MT4 indicators, has a good section with Forex trading systems.
Forexfactory.com — another huge forum with lots of free Forex trading systems, strategies, ideas, as well as expert advisors.
Forex-strategies-revealed.com — a neat collection of quality Forex trading systems: from simple to advanced
Why there is so much talk about having a Forex trading system?
- Without a trading system you won't be able to analyse what you did right and what you did wrong.
- Without a trading system your trading preferences will change all the time: every new trade could easily have different reasons behind it.
- Without a trading system you can be late on entries due to constant hesistation as a result of battling with your intuition or a sudden second opinion.
- Without a trading system you'll have more doubts about the best time to exit a trade or the best place to keep a protective stop.
- Without a trading system you cannot trade consistently and demand a disciplined trading from yourself.
- Without a trading system you cannot fully work out your money management and risks.
- Without a trading system you'll be prone to fear of losing and every time you would need to regain the confidence.
All-in-all it is difficult to trade Forex without a trading system.
So, you've found a good Forex trading system. Now what?
Where to find a good Forex trading system ?
If you want to be consistently successful in Forex, you need a trading system.
Beginner traders as well as experienced investors always search for the newest more efficient ways to trade and profit in Forex
Whether you are looking to write your own Forex trading system or borrow and
improve an existing one, there are several, so far the best, websites,
which could be of a good help
Forex-tsd.com — huge resource, known mostly for its best custom made MT4 indicators, has a good section with Forex trading systems.
Forexfactory.com — another huge forum with lots of free Forex trading systems, strategies, ideas, as well as expert advisors.
Forex-strategies-revealed.com — a neat collection of quality Forex trading systems: from simple to advanced
Why there is so much talk about having a Forex trading system?
- Without a trading system you won't be able to analyse what you did right and what you did wrong.
- Without a trading system your trading preferences will change all the time: every new trade could easily have different reasons behind it.
- Without a trading system you can be late on entries due to constant hesistation as a result of battling with your intuition or a sudden second opinion.
- Without a trading system you'll have more doubts about the best time to exit a trade or the best place to keep a protective stop.
- Without a trading system you cannot trade consistently and demand a disciplined trading from yourself.
- Without a trading system you cannot fully work out your money management and risks.
- Without a trading system you'll be prone to fear of losing and every time you would need to regain the confidence.
All-in-all it is difficult to trade Forex without a trading system.
So, you've found a good Forex trading system. Now what?
Most obviously you'll begin testing it on your Forex demo account
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