1 - As with any business, being successful requires a plan. Forex trading is no different in this respect. To trade profitably requires planning and then reviewing, possibly revising, and definitely following that plan .
2 - If you really are planning on making good money with Forex you will need to have sufficient working capital. Without adequate capital you won't be able to stay in the game during challenging market periods.
3 - Have realistic expectations. You will not profit in Forex trading if you don't start to trade until you find a trading method that yields 1000% per month.
4 - Those who are consistently profitable have discipline. Trading discipline requires that you simply follow your methods to the letter. Many traders make the mistake of not taking a trade that their trading system requires because "it doesn't feel right". Second guessing a successful system is a recipe for disaster.
5 - To trade profitably you must think in a big picture fashion with long-term wealth and prosperity in mind. You will have loses in all Forex trading. They are inevitable and part of doing business in Forex. You will profit as long as the sum total of your wins exceeds the sum total of your losses.
6 - Do you homework. Make sure you know what needs to be done each and every day. Once you have done your homework you will be better prepared for what the trading day will bring you.
7 - Ignore the urge to get rich quickly. Don't get greedy or you will get sloppy. It is better to be satisfied with consistent, modest returns. Trying to make a year's worth of profits in one huge trade is just a big financial mistake waiting to happen.
Joint Venture Giveaways also known as JV Giveaways sound absolutely brilliant. Essentially a group of internet marketers get together and contribute products to give away for free via a limited lifespan website. Needless to say the products mainly relate to internet marketing and include ebooks, software, graphics, web tools etc. If that's boring you already don't bother reading on. On the other hand:
Problem 1
Joint Venture Giveaways are a great place for those new to internet marketing to fill their boots with valuable information, products and scripts at no cost.
Problem 2
Joint Venture Giveaways are fantastic for building your list - your most important asset.
Problem 3
Joint Venture Giveaways provide a plethora of one time only offers representing unbelievable value for money
Problem 4
Joint Venture Giveaways offer a wide and diverse range of products and services
Problem 5
Joint Venture Giveaways provide a route to accelerate your learning curve as an internet marketer
Okay - so let me have a stab at what you're thinking here. "Mike, these aren't problems, I'm seeing nothing but benefits here". Maybe. Maybe I'm just trying to trick you to keep you reading but maybe, just maybe there are some real problems. Let's flip things around and look at each of the above statements in a bit more (brief) detail.
Problem 1
Yes joint venture giveaways are a great place for newbies to fill their boots with quality free info. However there is a downside. As a customer you will likely download everything, get some great info and then spend weeks trying to assimilate all the information. This causes you to lose focus and your main objective of building your business and generating revenue - oh yes it will. As a participant many JV Giveaways can have 200-300 contributors so how much do you really stand to gain? If you have a unique product maybe a lot but for the majority many similar products will be promoted diluting the value of the JV considerably.
Problem 2
Yes, joint venture giveaways are a great place to build your list. A list full of crap that is. To get a free product you have to provide your contact email address and name. However, those benefiting from free tools know how to play the game. They want everything for free, they don't want you to build a relationship with you they want to take your stuff and use it in some way or form and use it to build their own internet marketing business. They aren't going to buy from you and worse still they'll probably sign up with a throwaway e-mail address that you'll never be able to contact them on again. Now you've gotta clean your list.
Problem 3
Yes as a customer you'll get some great one time offers. You'll get them from everyone you sign up from a free download from. No wonder disposable email addresses are all the rage. Why, as a customer would I buy a product from someone I've never heard of, who hasn't built a relationship with me and when I'm overwhelmed by the choice of product on display in the first place?
Problem 4
Yes, there is an unbelievable amount of choice. See problem 1 you don't need me to type it again.
Problem 5
Yes you can accelerate your learning but more likely you'll be overwhelmed and start wondering what the hell shall I do with all this data. I thought I understood, now I'm even more confused.
Now to compound things further, I could write articles that highlight problems like this with every traffic generation strategy. I know from personal experience how much information is available, how it can stop you moving forward, how you think you need to buy every product you see promising this, that and the other with red hot success stories to boot.
My suggestion is that you forget about JV Giveaways especially if you are earning less than $5000 per month as an internet marketer. What you need is a system that you can follow, a step by step business plan, focus and commitment. Do something to build your business and stop doing things to build other peoples. I spent months getting nowhere with my internet marketing business until I started writing a minimum two articles a day.
Both Tony Hosea & Michael Page are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
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