A Forex broker is a broker dealing in foreign exchange, just like real estate broker who deals in real estate and properties. Simply, a Forex broker is an advisor who advises you about the forex market. However, the Forex market is not the perfect place to play with as a novice and beginner as there are many criticalities involved along with much risk bearing capacities. Novices can very quickly get their fingers badly burnt. But inexperience is not the only reason to consider using a Forex broker to trade in the high-risk international currencies market.
So, the Forex broker is an advisor who advises you about the forex market and allows you to work for 24 hours a day with major currencies like EUR, JPY, GBP, CHF etc against the US dollar on the spot, i.e. according to the current prices on the forex international exchange market. But the level of profits depends only on your abilities as well as your timely decision.
Although the role of the Forex broker is relatively redundant as a result of technological advancement and increased awareness, we cannot completely underestimate his role. The new paradigm shift has had something of a democratizing effect on the financial markets, and in the years that have followed a plethora of banks and brokerages have extended the range of their services to a new market by packaging up their online trading systems for the retail market, enabling the more modest investor to trade from their own computer screen - even on the previously out-of-reach currency markets. This is where the real role of Forex broker starts.
PIP is nothing special but Price Interest Points. In the forex market, currencies are always priced in pairs. The quoted price is the level where we, acting as the market maker, are willing to buy/sell the currency pair. In the wholesale market, currencies are quoted out to four decimal places, with the last placeholder called a point or a pip. A pip in most currencies is one /10,000th of an exchange rate (in USD/JPY, it is one /100th, likewise you can find for others).
Let's see some more information about Spread. As with all financial products, forex quotes include terms like 'bid' and 'ask"'. The 'bid', in its simplest terms is the price at which a dealer is willing to buy (and clients can sell) the base currency in exchange for the counter currency. The 'ask' is the price at which dealer will sell (and clients can buy) the base currency in exchange for the counter currency. The difference between the bid and the ask price is referred to as the spread. The spread defines the trader's cost, which can be recovered with a favorable currency move in the market. The value of a pip is determined by the pair of currencies being traded, the rate at which the currency pair is trading and the size of the position being traded.
There are many great Forex brokers, like COESfx, who maintains tight, competitive spreads in the four major currencies against the Dollar, and a total of 17 currency pairs including USD/CAD and AUD/USD. Some of the major features of COESfx are:
Real-time streaming prices
Price certainty on market orders
Competitive pricing
Fixed 3-5 pip spreads
For details, about this forex broker as well as their offerings, please visit: http://www.coesfx.com.Anthony Trister is a currency trader and is an owner of OneDayTrades which offers free, mechanical forex signals and an automated trading program for those wanting to trade forex. Free access available here: http://www.onedaytrades.com
November 13, 2007
Three Advertising Secrets That Will Save You $$$$
It was a pretty humble beginning for an aspiring leader, working on a crew at a termite and pest control company.
In California, where I lived, a home cannot be bought or sold without a clean bill of health from a termite and pest control company. As they look for these wood eating insects, termite inspectors also report any dry rot and structural flaws in the property.
Which is how I spent a month one summer in Redwood City.
Our company had inspected an imposing turn-of-the-century home that was being put on the real estate market for the very first time in its storied history. The home rested, not on a foundation, but on a dozen or so stacks of concrete block. We had been contracted to bring this building into the 20th century by putting a suitable foundation underneath it.
The crew I worked on jacked up the house with a house jack, cut the floor joists from the posts that rested on the concrete blocks, dug a trench around the circumference of the house, poured concrete, and lowered the house onto its new foundation. What an ordeal!
It is far easier and less time consuming, to put a foundation in first, and then build a house.
When it comes to advertising, most small businesses are like this old house. Instead of working hard and laying a solid foundation, they just slap up a building: advertising here, advertising there, with varying degrees of success. Thousands and thousands of dollars later, most small business owners have no idea if any of this expensive advertising had any impact at all.
Time spent on your foundation can solve this problem. Here are three questions to answer BEFORE you spend one cent on advertising:
1. Who is your target audience?
Who is the person most likely to use your products or services? This is a counterintuitive practice called narrowcasting. Instead of trying to reach everybody, narrowcasting aims at a very specific, identifiable group of people. Narrowcasting is essential for success in today's crowded marketplace. If you are everything to everyone, you are nothing to no one.
Take the time to know EXACTLY who you want to reach and learn everything about him or her.
One of my small business clients did this by tracking all the people who came into his store during a typical week. From that exercise he was able to determine the age range and gender of his primary target, professional women in their late 30's and early 40's. This group comprised almost two-thirds of everyone who came into his store. He also gained some additional information, that young males 18-30 comprised less than 5% of his customer base and were NOT his primary target.
Then he went one step further. This small business owner took 10-15 minutes with 25 of the women in his target and asked them a dozen questions. From their responses he was able to craft a profile of his target complete with likes, dislikes, buying motives, children's ages, daily habits and shaped his advertising by it.
2. What does your target audience read, listen to, or watch?
One of the questions you MUST ask your target audience is what media outlets they read, listen to, or watch. Without knowing this information, your advertising odds are no better that the lottery's.
The dirty little secret in advertising sales is that most buys are ego buys and have nothing to do with targeting. A business owner likes the radio station, or drinks beers after work with the ad rep, or wants to be a TV star in a funny commercial.
If you want to be a star, go to open mic night and the nearest comedy club. Don't gamble away your hard-earned dollars on speculative advertising. Again, find out EXACTLY what your target audience reads, listens to, or watches and place your advertising ONLY on those mediums.
Here too, though, you must be strategic. Don't do something one month in the newspaper and switch to the radio the next month and then try a direct mail coupon book. When you find the medium that connects with your target, dominate it.
If there is one secret to successful advertising, it is this: repetition.
This means having your advertising run and run and run on one medium so that it appears like you own that medium. When you are sick of seeing or hearing your ad, GREAT, your prospects are just now noticing it. Once you have dominated a medium in this way, add a new advertising medium only when you can dominate it as well.
3. What is your compelling benefit?
What do you say in your advertising now that you've defined your target and are ready to dominate a medium that speaks directly to them? Here, too, is where small businesses go awry.
Recognize any of these words?
- Quality service - Lowest price - Serving the state since 1982
These slogans, and hundreds like them, mean nothing because they don't say anything. A compelling benefit, however, grabs your prospects by the throat and demands their attention.
To craft your compelling benefit, you must first know your competitive advantage. What do you do better than anyone else in the business? Focus on that one thing and state it in a powerful, succinct way. Sure you do other things, and people will get to know that in time, but first you need a clear, simple focus to your messaging.
Now take your competitive advantage and state specifically how you will make a person's life different when they experience it. Will you make them money? Keep them safe? Bring greater health? Increase quality of life?
Here are two examples:
The Kingston Training Group specializes in teaching sales people how to set first appointments. Their six word slogan, all beginning with the letter M, is this: Make More Meetings, Make More Money. Note the competitive advantage, setting appointments, and the compelling benefit, increasing income, stated in a memorable way. Perfect!
The benefit statement I have for my business is this: A BETTER Business, A BETTER Life. I specialize in helping small business owners build their business in a systematic way that allows them to live the life they wanted when they started it in the first place. Again, stated in just six words.
This best part about this tool is that it is absolutely free because words are free. Work on your words. Make them simple, short, and powerful. Then build all your advertising around them.
Bill Zipp, President of Leadership Link, Inc., is a seasoned small business specialist. Bill has spent thousands of hours working with hundreds of business leaders, and his proven program, The Business Fitness™ System, provides a step-by-step plan for building a strong, self-sustaining small business. For a FREE Special Report, The 3 Biggest Killers of Small Businesses Today (And What YOU Can Do About Them!) visit www.LeadershipLink.net .
In California, where I lived, a home cannot be bought or sold without a clean bill of health from a termite and pest control company. As they look for these wood eating insects, termite inspectors also report any dry rot and structural flaws in the property.
Which is how I spent a month one summer in Redwood City.
Our company had inspected an imposing turn-of-the-century home that was being put on the real estate market for the very first time in its storied history. The home rested, not on a foundation, but on a dozen or so stacks of concrete block. We had been contracted to bring this building into the 20th century by putting a suitable foundation underneath it.
The crew I worked on jacked up the house with a house jack, cut the floor joists from the posts that rested on the concrete blocks, dug a trench around the circumference of the house, poured concrete, and lowered the house onto its new foundation. What an ordeal!
It is far easier and less time consuming, to put a foundation in first, and then build a house.
When it comes to advertising, most small businesses are like this old house. Instead of working hard and laying a solid foundation, they just slap up a building: advertising here, advertising there, with varying degrees of success. Thousands and thousands of dollars later, most small business owners have no idea if any of this expensive advertising had any impact at all.
Time spent on your foundation can solve this problem. Here are three questions to answer BEFORE you spend one cent on advertising:
1. Who is your target audience?
Who is the person most likely to use your products or services? This is a counterintuitive practice called narrowcasting. Instead of trying to reach everybody, narrowcasting aims at a very specific, identifiable group of people. Narrowcasting is essential for success in today's crowded marketplace. If you are everything to everyone, you are nothing to no one.
Take the time to know EXACTLY who you want to reach and learn everything about him or her.
One of my small business clients did this by tracking all the people who came into his store during a typical week. From that exercise he was able to determine the age range and gender of his primary target, professional women in their late 30's and early 40's. This group comprised almost two-thirds of everyone who came into his store. He also gained some additional information, that young males 18-30 comprised less than 5% of his customer base and were NOT his primary target.
Then he went one step further. This small business owner took 10-15 minutes with 25 of the women in his target and asked them a dozen questions. From their responses he was able to craft a profile of his target complete with likes, dislikes, buying motives, children's ages, daily habits and shaped his advertising by it.
2. What does your target audience read, listen to, or watch?
One of the questions you MUST ask your target audience is what media outlets they read, listen to, or watch. Without knowing this information, your advertising odds are no better that the lottery's.
The dirty little secret in advertising sales is that most buys are ego buys and have nothing to do with targeting. A business owner likes the radio station, or drinks beers after work with the ad rep, or wants to be a TV star in a funny commercial.
If you want to be a star, go to open mic night and the nearest comedy club. Don't gamble away your hard-earned dollars on speculative advertising. Again, find out EXACTLY what your target audience reads, listens to, or watches and place your advertising ONLY on those mediums.
Here too, though, you must be strategic. Don't do something one month in the newspaper and switch to the radio the next month and then try a direct mail coupon book. When you find the medium that connects with your target, dominate it.
If there is one secret to successful advertising, it is this: repetition.
This means having your advertising run and run and run on one medium so that it appears like you own that medium. When you are sick of seeing or hearing your ad, GREAT, your prospects are just now noticing it. Once you have dominated a medium in this way, add a new advertising medium only when you can dominate it as well.
3. What is your compelling benefit?
What do you say in your advertising now that you've defined your target and are ready to dominate a medium that speaks directly to them? Here, too, is where small businesses go awry.
Recognize any of these words?
- Quality service - Lowest price - Serving the state since 1982
These slogans, and hundreds like them, mean nothing because they don't say anything. A compelling benefit, however, grabs your prospects by the throat and demands their attention.
To craft your compelling benefit, you must first know your competitive advantage. What do you do better than anyone else in the business? Focus on that one thing and state it in a powerful, succinct way. Sure you do other things, and people will get to know that in time, but first you need a clear, simple focus to your messaging.
Now take your competitive advantage and state specifically how you will make a person's life different when they experience it. Will you make them money? Keep them safe? Bring greater health? Increase quality of life?
Here are two examples:
The Kingston Training Group specializes in teaching sales people how to set first appointments. Their six word slogan, all beginning with the letter M, is this: Make More Meetings, Make More Money. Note the competitive advantage, setting appointments, and the compelling benefit, increasing income, stated in a memorable way. Perfect!
The benefit statement I have for my business is this: A BETTER Business, A BETTER Life. I specialize in helping small business owners build their business in a systematic way that allows them to live the life they wanted when they started it in the first place. Again, stated in just six words.
This best part about this tool is that it is absolutely free because words are free. Work on your words. Make them simple, short, and powerful. Then build all your advertising around them.
Bill Zipp, President of Leadership Link, Inc., is a seasoned small business specialist. Bill has spent thousands of hours working with hundreds of business leaders, and his proven program, The Business Fitness™ System, provides a step-by-step plan for building a strong, self-sustaining small business. For a FREE Special Report, The 3 Biggest Killers of Small Businesses Today (And What YOU Can Do About Them!) visit www.LeadershipLink.net .
Imagine... You Can Build A Money Site In Just 30 Days
Your website is the keystone for your virtual Business.
If you have a desire to make good money online, we need to expand your sphere of knowledge. On the surface, it may appear that, all you need is a splashy website and a link to your Paypal account. I wish it were actually that simple, besides your sales page you will need to understand the dynamics of a Hosting account, plus some web pages combining everything into a seamless smooth flowing experience for your customer... bottom line you need Business Automation, a powerful business engine that will drive your site efficiently, creating your Virtual ATM Machine.
Your website is your virtual sales force, in essence, your store, it is where your prospective customers can come in and look around hoping to find that product or service they desire to buy.
So how do we achieve business automation and build this virtual ATM?
To achieve this goal we must combine a lot more technology, adding expensive software applications to manage and run our website, develop our sales pages and to add video and audio to display our products in a true virtual commercial state. We need software to track and monitor our advertising performance, and our sales, to collect and process credit cards, shipping data and the total administrative functions necessary to manage any business.
This is discouraging, and the reason over 90% of all online ventures fail within their first year.
Therefore, what do you need to do to ensure success and build this virtual ATM Machine...? You have two choices:
1. You can hire a very expensive webmaster to identify, incorporate and manage all the technical issues, purchasing and implementing them for you, or.
2. Spend the 12 - 18 months learning the technology and doing it yourself.
If you decide to pursue this task on your own you will need to make sure you have the following items at a minimum to hope for success:
1. A quality Hosting account.
2. High quality web-builder software.
3. A substantial knowledge of HTML.
4. A good autoresponder.
5. Traffic tracking software application.
6. Split Testing software application.
7. Your all important Merchant Account.
8. A web business centered statistical package to monitor your revenue and statistics.
This is your minimum requirements to implement a successful online business; you can easily add many more bells and whistles, but hold on to your wallet the price tags rolls up quickly.
If you do decide to venture out on your own, be prepared to spend a good 12 - 18 months learning the required technology, and software applications. Remember that this time spent is time taken away from your ultimate goal... making money.
This is a critical point - your goal from the outset should be spending no more than 10% of your time on technology and 90% on driving traffic, and converting customers into buyers... in order to succeed.
Alex Mandossian, a legend in online marketing said it best:
"There's no money to be made in learning technologies... unless you want to be a webmaster."
So my advice... mentor success and do not fall into the technology trap, find one of the hosted programs that provides all the money making services and technologies you will require to have your business up and operational in days instead of months.
Not only will this save you an incredible amount of time and money, but also the savings in shear aggravation will offset any out of pocket expense incurred. Typically these companies's charge about 1/10th the physical cost of purchasing and integrating the technology separately to build your web machine.
As Alex said, your key to success is having someone else handle the technology requirements, so hire a webmaster, or get one of the integrated website programs available so you can focus on your primary goal; driving traffic, converting customers, and making money.
------
What if I could show you how to make an additional $50,000 this year working under 2 hours a day and all from one integrated Web-Business Service for under the cost of a cup of coffee a day... Come and check us outhttp://pushbuttonmoneymachine.smmsite.com
If you have a desire to make good money online, we need to expand your sphere of knowledge. On the surface, it may appear that, all you need is a splashy website and a link to your Paypal account. I wish it were actually that simple, besides your sales page you will need to understand the dynamics of a Hosting account, plus some web pages combining everything into a seamless smooth flowing experience for your customer... bottom line you need Business Automation, a powerful business engine that will drive your site efficiently, creating your Virtual ATM Machine.
Your website is your virtual sales force, in essence, your store, it is where your prospective customers can come in and look around hoping to find that product or service they desire to buy.
So how do we achieve business automation and build this virtual ATM?
To achieve this goal we must combine a lot more technology, adding expensive software applications to manage and run our website, develop our sales pages and to add video and audio to display our products in a true virtual commercial state. We need software to track and monitor our advertising performance, and our sales, to collect and process credit cards, shipping data and the total administrative functions necessary to manage any business.
This is discouraging, and the reason over 90% of all online ventures fail within their first year.
Therefore, what do you need to do to ensure success and build this virtual ATM Machine...? You have two choices:
1. You can hire a very expensive webmaster to identify, incorporate and manage all the technical issues, purchasing and implementing them for you, or.
2. Spend the 12 - 18 months learning the technology and doing it yourself.
If you decide to pursue this task on your own you will need to make sure you have the following items at a minimum to hope for success:
1. A quality Hosting account.
2. High quality web-builder software.
3. A substantial knowledge of HTML.
4. A good autoresponder.
5. Traffic tracking software application.
6. Split Testing software application.
7. Your all important Merchant Account.
8. A web business centered statistical package to monitor your revenue and statistics.
This is your minimum requirements to implement a successful online business; you can easily add many more bells and whistles, but hold on to your wallet the price tags rolls up quickly.
If you do decide to venture out on your own, be prepared to spend a good 12 - 18 months learning the required technology, and software applications. Remember that this time spent is time taken away from your ultimate goal... making money.
This is a critical point - your goal from the outset should be spending no more than 10% of your time on technology and 90% on driving traffic, and converting customers into buyers... in order to succeed.
Alex Mandossian, a legend in online marketing said it best:
"There's no money to be made in learning technologies... unless you want to be a webmaster."
So my advice... mentor success and do not fall into the technology trap, find one of the hosted programs that provides all the money making services and technologies you will require to have your business up and operational in days instead of months.
Not only will this save you an incredible amount of time and money, but also the savings in shear aggravation will offset any out of pocket expense incurred. Typically these companies's charge about 1/10th the physical cost of purchasing and integrating the technology separately to build your web machine.
As Alex said, your key to success is having someone else handle the technology requirements, so hire a webmaster, or get one of the integrated website programs available so you can focus on your primary goal; driving traffic, converting customers, and making money.
------
What if I could show you how to make an additional $50,000 this year working under 2 hours a day and all from one integrated Web-Business Service for under the cost of a cup of coffee a day... Come and check us outhttp://pushbuttonmoneymachine.smmsite.com
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