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Internet Marketing VS Forex Currency Trading
Have you ever tried to make money online and failed?
Did you follow your guru's advice and still fail?
Here's an alternative...
Have you noticed that when someoneís trying to sell you something - such as a system for making money - they always make it look far easier than it is?
Letís look at two Internet businesses, almost as diametrically opposed as itís possible to be Ė Internet Marketing and Forex Currency Trading.
Youíve probably heard the old Internet adage Ė build a better website and they will come. Well it ainít true!
You could put up a site advertising dollars for a dime and they still wouldnít come Ė because they wouldnít know where to look!
Letís 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 youíve been reading the recent Internet marketing blurb youíll 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 letís say you have a killer product, what else do you need?
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.
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 Ė and sell - your killer product. This may or may not be the same as the one you use for your opt-in list.
Maybe youíre 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.
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.
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 havenít even looked at affiliate sales and marketing but Iím sure you get the picture.
The basic idea of selling over the Internet sounds good but thereís 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, itís 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 Ė 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. Thatís worth repeating Ė with currency trading, you donít need customers.
No customers means you donít need any of the associated accoutrements that go with Internet marketing such as:
eBooks and reports
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 Ė 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, thatís 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.
Thereís lots of other stuff you have to know, too Ė 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 donít 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 youíre trading.
Making money takes work whether itís online or off. Make sure you know whatís involved before you start and remember that the more you put into a business, the easier it gets.
About the author:
From the author of the hit Forex Currency Trading 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.
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