So, you want to learn how to trade currency on the foreign exchange market? The process of trading currencies appears very straight-forward on the surface; but, there is more to it than meets the eye.
The currency trading tutorial you're about to receive here will give you a basic idea of how things works. However, you must keep in mind that this tutorial is only scratching the surface. The Forex market is complex, fast-paced and requires serious further study if you wish to trade successfully.
Now that we have that disclaimer out of the way, let's begin by looking at the fundamental unit involved in every trade: the 'currency pair'.
What are currency pairs?
Currency pairs are units of 2 currencies involved in a foreign exchange trade. For example, if you want to sell U.S. dollars to buy Euros, you would look at the exchange rate quoted for the EUR/USD currency pair. Or, if you wanted to sell Euros to buy U.S. dollars, you would look at the exchange rate quoted for the USD/EUR currency pair.
You might thinking: “Aren't they the same thing?” Well, they almost are, but you must look at the correct pair, in the correct order, based on the currency being purchased.
There are two reasons for doing this:
First, it is easier to calculate the results of your exchange in terms of how much of the base currency you can purchase with your 'quote' currency. Your base currency is the currency you intend to buy, and the quote currency is the currency you intend to sell in exchange for the base.
When quoting an exchange rate, your broker will list the base currency first in the pair, and the quote currency second.
This means that when you see a pair like EUR/USD, you are seeing the cost of 1 Euro in U.S. Dollars. An exchange rate quote of EUR/USD = 1.4436 means that 1 Euro costs $1.4436 in U.S. Dollars.
Likewise, the USD/EUR pair indicates the cost of 1 U.S. Dollar in terms of Euros. An exchange rate of USD/EUR = 0.6834 would mean that 1 U.S Dollar costs 0.6834 Euro.
The second reason for looking at the correct buy/sell ordered pair is that you'll want to know the difference between the 'bid price' (exchange rate) and the 'ask price' (what the market makers want for the currency).
The difference between bid price and ask price make up what is known as 'the spread'. Forex traders are subject to spreads when opening or closing trades in the buying position.
In other words, you are always subject to a spread when you buy, regardless of whether you are opening or closing the trade.
Open buy -> spread
Close sell -> no spread
Open sell -> no spread
Close buy -> spread
Let's say that you want to buy the EUR/USD pair. The bid price is 1.4436. The ask price may be something like 1.4440. You must pay the spread of 0.0004 in order to do the trade.
Those are the basics of a currency trade, but there are other factors to take into consideration. In order to make a profit on currency exchanges, you must also know how to calculate the cash value of exchange rate fluctuations in terms of 'basis points' - or, in Forex jargon - 'pips value'.
This currency trading tutorial will not cover pips values, but it is a concept you should investigate further if you want to master the basics of trade on the foreign exchange.
Tuesday, January 29, 2008
Forex for Newbies: A Quick Currency Trading Tutorial
Monday, January 28, 2008
4 Crucial Things You Need To Do To Build your List
Online marketing may have developed a sudden surge these past few years, but many in the know how have felt its rise even from way then. As more Internet based businesses are put up, the need to develop new marketing skills and knowledge based on this new medium have arisen. More and more marketing strategies are being discovered and developed to cope with the changing face of the business world.
The demand for online marketing tips and strategies have drastically grown and a new form of business has been born, Internet marketing strategies. While there are companies that are all too eager to help your site and business build a clientele for a fee, there also many ways that can spread the word about your sites existence in a more cost free way. One of these is Opt-in email marketing, also known as permission marketing.
Opt-in marketing requires the permission of a willing customer to subscribe to your marketing materials, materials that take form in newsletters, catalogs and promotional mailings via e-mail. The more opt-in marketing mail is sent, the more chances there is to bag sales and more sales. To do this, you must build a list of all those who want to subscribe to your opt-in marketing list.
From your list, you will get your targeted customer, this is a good list since they already have shown interest in what you have to show and sell since they have willingly signed up for your list. These are the people who have liked what they have seen in your site and have decided they want to see more and maybe even purchase whatever product or service your company and site has to offer.
Many people would think that building their lists would take hard work and a lot of time to build and collect names and addresses. This is not so, it takes a bit of patience and some strategies but in doing this list, you open your site and your business to a whole new world of target market. Take the effort to take your business to a new level, if traffic increase and good profits are what you want, an opt-in list will do wonders for your business venture.
There are many sources and articles in the Internet available for everyone to read and follow in building a list. Sometimes they may be confusing because there are so many and there are different ways. Different groups of people would have different approaches in building an opt-in list, but no matter how diverse many methods are, there are always some crucial things to do to build your list. Here are four of them.
1) Put a good web form in your site
A good web form for subscribing to an opt-in list is not hard to do. Just write a simple short statement about how they would like to see more and get updated about the site. Then there should be an area where they could put in their names and e-mail address. This web form will automatically save and send you the data’s inputted. As more people sign in, your list will be growing.
2)Make your homepage impressive
You need to have well written articles and descriptions of your site. Depending on what your site is all about, you need to capture your website visitor’s fancy. Make your site useful and very easy to use. Do not expect everyone to be tech savvy. Invest in having good programming in your site, make your graphics beautiful but don’t over do it.
Don’t waste your time making the homepage too overly large megabyte wise. Not all people have dedicated T1 connections, the faster your site gets loaded, the better. Go for a look that borders between simplicity and sophisticated knowledge.
3)Provide good service and products.
A return customer is more likely to bring in more business. Even then and now, a satisfied customer will recommend a business always. Word of mouth and recommendations alone can rake in more business than an expensive ad. As your clientele roster grows so shall your list. With more members on the list, the more people will get to know about what you have new to offer.
4)Keep a clean and private list.
Never lose the trust your customers have entrusted you. If you provide e-mails to others and they get spammed, many will probably unsubscribe to you. Remember, a good reputation will drive in more traffic and subscribers as well as strengthen the loyalty of your customers.
Sunday, January 27, 2008
1ClickAffiliate MegaStore
Have you ever thought of having your very own Digital Product MegaStore Online? Well 1ClickAffiliate MegaStore may be the answer, and get this, it's totally free.
Why 1ClickAffiliate Is Not An Ordinary Affiliate Store.
Major Benefits
1ClickAffiliate MegaStore is a a fully-functioning Digital MegaStore already done up with hundreds of pages selling thousands of affiliate products that customers are already thirsting for!
More than 10,000 high demand products packed with your affiliate code!
Up to 75% commission for every sale!
Dozens of marvelous professionally designed templates to select from!
Content customization - you can write your own product reviews!
Built in AdSense support - with your AdSense Publisher code!
Search engine optimized web pages - for best search engine ranking!
Flexible domain name - You can use our domain or your own private domain name!
Complete FREE web hosting!
Automatic backups!
Professional Configration Manager!
1ClickAffiliate is totally FREE service
Instant updates from Clickbank's catalogues
Set up your 1ClickAffiliate megastore in just 4 easy steps and 5 minutes
Conclusion
1ClickAffiliate megastore is a simple and Lightning-Quick Way To Build A Rock-Steady Internet Business...
For more details go here
Saturday, January 26, 2008
How to Succeed with Google Adwords
Google Adwords is the most sophisticated and popular pay-per-click advertising system on the internet. Unlike regular search engine listings, which are listed for free according to "relevance," as defined by the particular search engine involved, Adwords are small text ads which usually appear to the right of the unpaid listings. Advertisers bid on specific "keywords", which determines where the ad is displayed. However, unlike other search engines, where placement is completely determined by the amount of the bid, Google uses a complex calculation which also takes into the account the popularity of the ad as well. Thus, an ad which gets clicked on a lot can end up in a better position than one with a higher bid. That's how Google rewards the ad for relevancy, so it pays to create an ad that will invite clicks.
Advertising with Adwords has many advantages. First, the ad is displayed immediately, as opposed to waiting for sites to show up in regular listings, which can take months. Second, they can be highly targeted, meaning you can make sure you're only paying for clicks by customers who are sincerely interested. Third, Adwords allows you to run several ad campaigns simultaneously, so you can test the results and experiment on the fly to constantly improve the quality of the ads. You can even track the "conversion rate," or the actual number of sales generated by a given ad. This is extremely precise marketing.
The first step is to come up with the best possible list of keywords. This is extremely important, because if you bid on the same ones everyone else is bidding on, you will end up with very expensive clicks. You can use any of the many keyword search tools available (wordtracker.com has a popular one) to determine which keywords have lots of searches but not too much competition. If you bid on enough low-cost keywords, you can do as well or better than if you had placed an expensive bid on a popular term. You can also place a limit on your budget, so that you can control how much your total expenditure is per month. You can also specify certain words you do not want included, so that you don't attract a lot of clicks from people looking for something related that you don't offer.
The ad itself consists of four lines: a title of no more than 25 characters, a description with two lines of up to 35 characters each, and a line for your url, also limited to 35 characters. The title is what really attracts attention. It should include the keyword you're targeting, and should be as striking as possible so as to stand out from the crowd. If it's truly attention-getting, it could end up getting more clicks than other, duller ads higher up on the page. Some suggest that it should be in all caps, and include a price if possible.
The description should include the major selling point of your product, and also include enough information to discourage clicks by unqualified customers. Make sure they know what you're selling and what to expect, as well as what sets you apart from the competition.
Finally, make sure the URL listed takes them to the most relevant page in your site for what they're looking for. Make sure the link is up to date and functioning correctly.
That's it in a nutshell, although the nuances are quite a bit more complex than we can deal with here. Many resources are available on the net which go into greater detail. But now that you understand the basics, you should be armed with the information you need to explore one of the most potentially lucrative marketing tools on the internet.
Learn more about google adwords and get free report here.
7 Viral Ways for Exapanded Online Reach
What would happen if one of your friends tells about your newest blog to her five friends and they, in turn,tell their friends and it goes on like this? Pretty soon you will have all the traffic you need for a comfortable income from your newfound writing careers. Is it possible to achieve this kind of success using the virility of the social web, or does it sound like a pyramid scheme?
The emergence of social web provides opportunities for viral marketing that never existed before. Face to face talk or talk over the phone has its limitations in reaching your audience. The Web 1.0 offered forums for a limited viral marketing opportunity. The social web has opened up avenues greatly expanding the online reach. This article describes seven techniques for using the social web to achieve that viral reach.
1. Before jumping to social websites to launch your viral adventure, make your site social web friendly.Provide a link on your site for users to invite their friends. When someone joins your site through an invitation, reward points to the inviter. Announce a contest on your site and reward the top inviter with e-books or a t-shirt with your site logo.
2. Spend some time at Digg. This is a community based news popularity web site. If your blog article hits the front page of Digg, you will get thousands of visitors and some of them will eventually become your regulars. Study the types of articles that end up on the front page of Digg. Write your blog articles targeted to Digg users.
3. MySpace is the ultimate social website because of its sheer size in terms of visitors. If you have lots of friends who have their MySpace pages, create a niche network community in MySpace with common interests.Post teasers of your interesting blog articles in your MySpace page with links to your full article. Ask your friends to write comments on your blog postings.
4. Take a look at Delicious. Google Delicious to get the url because it is not a dot-com domain. It is a social book-marking site to store your bookmarks online. You should build a network of friends at this site and study their book markings to assess the type of articles they prefer to bookmark. Tailor your blog articles to mimic the article style your network appreciates.
5. Visit a site called Squidoo. At Squidoo you create "lenses" (a Web page) about any topic. You can create as many lenses as you want and you can embed external links in your lenses. Squidoo lenses also have good search engine credibility. So, your sites will get some good external in-bound links for free.
6. LinkedIn is an online community of experienced professionals. Create your account at LinkedIn and network with professionals in your fields. Offer some free services for other professionals in your network and solicit their recommendations. All recommendations appear in your profile. LinkedIn provides great opportunity for someone to find your business or services.
7. YourElevatorPitch provides a free online spot to announce your business and services. User rates your ad pitches. This site also allows you to link back to your site.
Other sites worth exploring for viral opportunities are Flickr and YouTube. Both the sides accept multimedia (photos for Flickr and videos for YouTube) contents. These sites are good for establishing your brand by regular posting of theme oriented humorous contents.
To learn more about Viral Marketing click here
3 Reasons Social Marketing Must Be A Part Of Your Business
If you are trying to sell things on the Internet and you do not have a blog you are putting yourself at a disadvantage. Would you go to play golf without a putter?
Your competition is blogging and they are beating your pants off every day with ease. A part of blogging is submitting your articles to social directories.
Here are 3 reasons social marketing must be a part of your Internet business.
1. Social marketing is a popular way to get information. Directories like Digg and Netscape are quickly becoming the choice of people all over the world as a way to keep up to date on what is going on.
If you are not blogging and submitting to relevant social directories you are missing out on this easy form of traffic.
2. Social marketing is easy to do. Here's what you need. You should get a WordPress blog and set it up so that you can quickly bookmark the top directories. Then you should post in your blog everyday. If you can talk and type you can blog.
3. Social marketing is an interactive way to develop relationships with your readers. This has become know as Web 2.0 and it is important to the future of your business.
People still like to deal with people. This is an age-old sales trick that sometimes gets lost on the Internet. By making yourself and your blog interactive you become a real person. This will help increase your chances for sales and repeat sales.
4. Search engines love social marketing. You are making their life easy when you blog around keyword rich topics that a person researching can find. When you master the techniques of social marketing you will find you can get on page one of Google and other search engines very quickly.
The reason for this is search engines are spidering Digg, Reddit, Newsvine, and many more non-stop looking for fresh relevant content to put online. This may as well be you as opposed to your competition.
If all of this seems confusing it really shouldn't be. Read "The Authority Black Book" by Jack Humphrey. It is a free ebook you can get online. In it you will learn everything you ever wanted to know on social marketing and how to use it to increase your business.
Do not wait until tomorrow to get started. Do it today and your Internet business will thank you.
For Web2.0 info click here
Saturday, January 19, 2008
OTO Generator Review
OTO Generator
Dave Purves creator of one of the most successful membership websites called "Dave's cool little website" has come up with another winner OTO (acronym for One Time Offer) Generator.
OTO Generator is an ingenious point and click tool that allows you to create an infinite number of webpages from a collection of a hundred or so top notch products. You can see them here
Simply choose your products, plug in your payment info, and click to generate the webpage. You can create an unlimited number of single time offer pages, standalone sales pages, bonus offer pages, or a string of hundreds of product webpages you can link from your website. Dave does all the hosting, customer service and delivery for you. And the really cool thing is you get copies of all the products.
Software Highlights
OTO Page Generator is a web-based system that you can access 24 hours a day, 7 days a week to create and save OTO's.
Create as many OTO's as you like, any time you like.
OTO Page Generator instantly creates the full HTML page code that you can cut and paste into your website HTML pages.
OTO Page Generator also generates a dynamic URL that you can use instead of cutting and pasting the HTML. Just direct your customers to the dynamic URL and they can order there.
If you're not interested in creating One Time Offers, OTO Page Generator can also generate standalone webpages that offer your choice of over 100 products.
Check it out here
Tuesday, January 15, 2008
Affiliate Silver Bullet System
Review : Affiliate Silver Bullet
Month after month I receive many emails from top Internet marketers promoting some system guaranteed to make you a lot of money online. Most of these systems turn out to be pure hype and a total waste of time and money.
The only reason I took a look at the Affiliate Silver Bullet System was because a friend of mine who makes a "ton" of money online told me he had just added it to his online money making arsenal and recommended I do the same.
To be honest I was totallly blown away and amazed by this system put together by Dustin Struckman.
Cost $37 a month
56 day guarantee
The initial package of 10 silver bullets includes:
Mike Filsaime’s Butterfly Marketing Manuscript
Andrew Fox’s Secret Affiliate Formula
Justin Blake’s Endless Optin
Charles Ryder’s Explosive Cash System
Nick Marks’ Multiple Streams Of Income
Steven Holdaway’s Google Money Pro
Jason James’s Membership Riches
Mike Mograbi’s Self Improvement Made Easy
Jeff Alderson's Search Engine Traffic
Justin Blake's Endless Optin
PROS
10 "Silver Bullets" provided each and every month. Each one designed to pre-sell a hand-picked affiliate product and earn you commissions. Each Silver Bullet consists of:
A Professionally Designed Video Squeeze Page - This page converts your visitors into subscribers like clockwork to automatically build your list! The professional design and production of the video and the page give your visitors confidence to trust you with their information. And the compelling video practically forces subscribers onto your list.
A Pre-Selling Mini-Site - This 2-page mini-site does an excellent job of "pre-selling" your visitors by providing them with valuable free information. This free information instills trust and makes it easy for them to take your recommendations . . . which results in affiliate commissions for you.
A Powerful 5-Part Training Series - This email training series follows up with your visitors to give you 5 more opportunities to recommend the affiliate product. That means you earn 5 times as much affiliate commission.
Push Button Automation - The entire system is set up to run completely on auto-pilot. Everything is created for you. All you need to do is sign up for your own Affiliate Silver Bullet account and let the system do all the work. It take less than 5 minutes to set up, and it's as easy as clicking your mouse. If you can read email, you can put this system to work for you with the simple push of a button!
Affiliate program pays 50% per referral per month
Easy to setup. Just upload 2 files to your server.
CONS
Only setup to use Aweber.com autoresponder service
If you don’t use Aweber, you don’t own the list.
Requires knowledge of uploading files to your own domain/host
Requires hosting your own squeeze pages
SUMMARY
Dustin Struckman has put together a definite winner with his Affiliate Silver Bullet system. This system is 100% automated and gives you the exact same tools that the big boys use to become super affiliates. If you have been struggling to succeed in the affiliate marketing arena this program is definitely for you.
Get more details about The Affiliate Silver Bullet click here
