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
November 13, 2007
November 11, 2007
What Would You Rather Do: Read About Someone Elses Forex Success or Experience Your Own
You can draw some useful parallels between running a business and Forex trading. For instance, most successful businesses keep statistics on everything from their conversion rate, to their average dollar sale, to the number of people that come in the door. Businesses do this to keep on top of how they are doing on a day-to-day basis and businesses must first take score before begining to improve on that score. Using a Forex back testing plan in your trading works exactly the same way.
Now that you`re looking at Forex trading as a business, you need to learn some valuable statistics about your system so you can improve it`s performance. You would use a Forex back testing method. You can`t improve your system unless you have something to measure it against. How could you expect to improve your trading unless you knew what it was you were looking to improve? You can discover these measurements and other valuable information about your trading system, by using a Forex back testing plan.
There are two ways that you can use a Forex back testing plan to back test a system. You can do it manually, which can be a drawn-out and labour-intensive process, or you can do it with the aid of some software packages. Unfortunately, I recommend you do it by hand when you first start out. You`ll get a much better feel for your system, and you`ll understand exactly how using a Forex back testing plan works in all its intricacies. Once you have the Forex back testing plan and the in-depth knowledge, you could look at finding a software package that does it for you.
There are a few major statistics on your Forex back testing plan that you need that you will uncover through back testing. The first statistic you need to become familiar with is the R multiple principal. R stands for risk, the risk you take on any trade when you enter the market. The R multiple of a trade is the ratio of the profit or loss compared to the amount of money risked to make the profit or loss.
Therefore, if you risk $200 dollars in your initial purchase, and you make a profit of $1,000, you have made five times the amount you risked in the trade. You have an R multiple of five. This statistic gives you a good idea of the relative size of your profits to your losses. You can compare the average size of your winning trades with the average size of your losing trades.
The next statistic you`ll find useful is your win to loss ratio. This is how many times you get a winning trade in proportion to how many times you get a losing trade. For example, if you had ten trades, four of those trades were winners, and six were losers, your win to loss ratio is simply four to six. This is your hit rate; you`ll get 40% of your trades correct.
With these two simple statistics, you can calculate the average size of your profits and of your losses, multiply these figures with your win to loss ratio, and calculate on average how much money you make with every dollar you risk.
For those of you who think this sounds like a too much work, particularly using a Forex back testing plan that you need to do to uncover these statistics, consider this scenario: Imagine yourself trading a system that you knew had a win to loss ratio of 60/40. You made profit on every six trades and lost one out of every four. How do you think you would feel, where would your confidence level be, after you traded the system for a little while and you received a string of 11 losses in a row?
Now, you know that this system has a win to loss ratio of six to four. Would you have the confidence to open another trade if your system brought up another buy signal after getting 11 trades wrong?
Unless you use Forex back testing plan to back tested your system, I doubt that your confidence level will remain high. That trading system may be a fantastic profitable system. However, since you didn`t use your Forex back testing plan to back test it, you don`t know that historically this system received up to 13 losses in a row, but was still profitable.
Here`s another point you may not have picked up unless you used your Forex back testing plan. Once you`ve set your money management rules and you begin to trade, you will likely experience a string of losses. Countless times, I`ve had clients who get disheartened by this fact because they don`t understand the nature of setting good management. If you`re adhering to the rules of cutting your losses short and letting your profits run, because you`re cutting your losses short, those trades are going to last for a shorter amount of time.
This means once you begin trading the odds of getting losses early in the game are much higher than getting a winning trade. This is particularly true when you consider that many successful trading systems run on a 40/60 win to loss ratio. However, you will never know the intricacies of your system unless you use a Forex back testing plan and back test it.
Using a Forex back testing plan, will help you to understand what works and what doesn`t. It will give you the statistics to gauge the effectiveness of your trades. It fills in your scorecard, and allows you to make improvements. But, you shouldn`t simply believe everything I`ve told you. Instead, you need to prove it to yourself by using some Forex back testing plans and back test your system.-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=- David Jenyns is recognized as the leading expert when it comes to designing profitable forex trading systems.Discover the "secret formula" of trading that anyone can useto consistently generate BIG profits from the market by downloading your FREE copy of David's new UltimateForex Trading Systems course.Click Here To Download ==> Forex Trading Systemshttp://www.ultimate-trading-systems.com/forex.htm
Now that you`re looking at Forex trading as a business, you need to learn some valuable statistics about your system so you can improve it`s performance. You would use a Forex back testing method. You can`t improve your system unless you have something to measure it against. How could you expect to improve your trading unless you knew what it was you were looking to improve? You can discover these measurements and other valuable information about your trading system, by using a Forex back testing plan.
There are two ways that you can use a Forex back testing plan to back test a system. You can do it manually, which can be a drawn-out and labour-intensive process, or you can do it with the aid of some software packages. Unfortunately, I recommend you do it by hand when you first start out. You`ll get a much better feel for your system, and you`ll understand exactly how using a Forex back testing plan works in all its intricacies. Once you have the Forex back testing plan and the in-depth knowledge, you could look at finding a software package that does it for you.
There are a few major statistics on your Forex back testing plan that you need that you will uncover through back testing. The first statistic you need to become familiar with is the R multiple principal. R stands for risk, the risk you take on any trade when you enter the market. The R multiple of a trade is the ratio of the profit or loss compared to the amount of money risked to make the profit or loss.
Therefore, if you risk $200 dollars in your initial purchase, and you make a profit of $1,000, you have made five times the amount you risked in the trade. You have an R multiple of five. This statistic gives you a good idea of the relative size of your profits to your losses. You can compare the average size of your winning trades with the average size of your losing trades.
The next statistic you`ll find useful is your win to loss ratio. This is how many times you get a winning trade in proportion to how many times you get a losing trade. For example, if you had ten trades, four of those trades were winners, and six were losers, your win to loss ratio is simply four to six. This is your hit rate; you`ll get 40% of your trades correct.
With these two simple statistics, you can calculate the average size of your profits and of your losses, multiply these figures with your win to loss ratio, and calculate on average how much money you make with every dollar you risk.
For those of you who think this sounds like a too much work, particularly using a Forex back testing plan that you need to do to uncover these statistics, consider this scenario: Imagine yourself trading a system that you knew had a win to loss ratio of 60/40. You made profit on every six trades and lost one out of every four. How do you think you would feel, where would your confidence level be, after you traded the system for a little while and you received a string of 11 losses in a row?
Now, you know that this system has a win to loss ratio of six to four. Would you have the confidence to open another trade if your system brought up another buy signal after getting 11 trades wrong?
Unless you use Forex back testing plan to back tested your system, I doubt that your confidence level will remain high. That trading system may be a fantastic profitable system. However, since you didn`t use your Forex back testing plan to back test it, you don`t know that historically this system received up to 13 losses in a row, but was still profitable.
Here`s another point you may not have picked up unless you used your Forex back testing plan. Once you`ve set your money management rules and you begin to trade, you will likely experience a string of losses. Countless times, I`ve had clients who get disheartened by this fact because they don`t understand the nature of setting good management. If you`re adhering to the rules of cutting your losses short and letting your profits run, because you`re cutting your losses short, those trades are going to last for a shorter amount of time.
This means once you begin trading the odds of getting losses early in the game are much higher than getting a winning trade. This is particularly true when you consider that many successful trading systems run on a 40/60 win to loss ratio. However, you will never know the intricacies of your system unless you use a Forex back testing plan and back test it.
Using a Forex back testing plan, will help you to understand what works and what doesn`t. It will give you the statistics to gauge the effectiveness of your trades. It fills in your scorecard, and allows you to make improvements. But, you shouldn`t simply believe everything I`ve told you. Instead, you need to prove it to yourself by using some Forex back testing plans and back test your system.-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=- David Jenyns is recognized as the leading expert when it comes to designing profitable forex trading systems.Discover the "secret formula" of trading that anyone can useto consistently generate BIG profits from the market by downloading your FREE copy of David's new UltimateForex Trading Systems course.Click Here To Download ==> Forex Trading Systemshttp://www.ultimate-trading-systems.com/forex.htm
November 09, 2007
What Would You Rather Do: Read About Someone Elses Forex Success or Experience Your Own
You can draw some useful parallels between running a business and Forex trading. For instance, most successful businesses keep statistics on everything from their conversion rate, to their average dollar sale, to the number of people that come in the door. Businesses do this to keep on top of how they are doing on a day-to-day basis and businesses must first take score before begining to improve on that score. Using a Forex back testing plan in your trading works exactly the same way.
Now that you`re looking at Forex trading as a business, you need to learn some valuable statistics about your system so you can improve it`s performance. You would use a Forex back testing method. You can`t improve your system unless you have something to measure it against. How could you expect to improve your trading unless you knew what it was you were looking to improve? You can discover these measurements and other valuable information about your trading system, by using a Forex back testing plan.
There are two ways that you can use a Forex back testing plan to back test a system. You can do it manually, which can be a drawn-out and labour-intensive process, or you can do it with the aid of some software packages. Unfortunately, I recommend you do it by hand when you first start out. You`ll get a much better feel for your system, and you`ll understand exactly how using a Forex back testing plan works in all its intricacies. Once you have the Forex back testing plan and the in-depth knowledge, you could look at finding a software package that does it for you.
There are a few major statistics on your Forex back testing plan that you need that you will uncover through back testing. The first statistic you need to become familiar with is the R multiple principal. R stands for risk, the risk you take on any trade when you enter the market. The R multiple of a trade is the ratio of the profit or loss compared to the amount of money risked to make the profit or loss.
Therefore, if you risk $200 dollars in your initial purchase, and you make a profit of $1,000, you have made five times the amount you risked in the trade. You have an R multiple of five. This statistic gives you a good idea of the relative size of your profits to your losses. You can compare the average size of your winning trades with the average size of your losing trades.
The next statistic you`ll find useful is your win to loss ratio. This is how many times you get a winning trade in proportion to how many times you get a losing trade. For example, if you had ten trades, four of those trades were winners, and six were losers, your win to loss ratio is simply four to six. This is your hit rate; you`ll get 40% of your trades correct.
With these two simple statistics, you can calculate the average size of your profits and of your losses, multiply these figures with your win to loss ratio, and calculate on average how much money you make with every dollar you risk.
For those of you who think this sounds like a too much work, particularly using a Forex back testing plan that you need to do to uncover these statistics, consider this scenario: Imagine yourself trading a system that you knew had a win to loss ratio of 60/40. You made profit on every six trades and lost one out of every four. How do you think you would feel, where would your confidence level be, after you traded the system for a little while and you received a string of 11 losses in a row?
Now, you know that this system has a win to loss ratio of six to four. Would you have the confidence to open another trade if your system brought up another buy signal after getting 11 trades wrong?
Unless you use Forex back testing plan to back tested your system, I doubt that your confidence level will remain high. That trading system may be a fantastic profitable system. However, since you didn`t use your Forex back testing plan to back test it, you don`t know that historically this system received up to 13 losses in a row, but was still profitable.
Here`s another point you may not have picked up unless you used your Forex back testing plan. Once you`ve set your money management rules and you begin to trade, you will likely experience a string of losses. Countless times, I`ve had clients who get disheartened by this fact because they don`t understand the nature of setting good management. If you`re adhering to the rules of cutting your losses short and letting your profits run, because you`re cutting your losses short, those trades are going to last for a shorter amount of time.
This means once you begin trading the odds of getting losses early in the game are much higher than getting a winning trade. This is particularly true when you consider that many successful trading systems run on a 40/60 win to loss ratio. However, you will never know the intricacies of your system unless you use a Forex back testing plan and back test it.
Using a Forex back testing plan, will help you to understand what works and what doesn`t. It will give you the statistics to gauge the effectiveness of your trades. It fills in your scorecard, and allows you to make improvements. But, you shouldn`t simply believe everything I`ve told you. Instead, you need to prove it to yourself by using some Forex back testing plans and back test your system.-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=- David Jenyns is recognized as the leading expert when it comes to designing profitable forex trading systems.Discover the "secret formula" of trading that anyone can useto consistently generate BIG profits from the market by downloading your FREE copy of David's new UltimateForex Trading Systems course.Click Here To Download ==> Forex Trading Systemshttp://www.ultimate-trading-systems.com/forex.htm
Now that you`re looking at Forex trading as a business, you need to learn some valuable statistics about your system so you can improve it`s performance. You would use a Forex back testing method. You can`t improve your system unless you have something to measure it against. How could you expect to improve your trading unless you knew what it was you were looking to improve? You can discover these measurements and other valuable information about your trading system, by using a Forex back testing plan.
There are two ways that you can use a Forex back testing plan to back test a system. You can do it manually, which can be a drawn-out and labour-intensive process, or you can do it with the aid of some software packages. Unfortunately, I recommend you do it by hand when you first start out. You`ll get a much better feel for your system, and you`ll understand exactly how using a Forex back testing plan works in all its intricacies. Once you have the Forex back testing plan and the in-depth knowledge, you could look at finding a software package that does it for you.
There are a few major statistics on your Forex back testing plan that you need that you will uncover through back testing. The first statistic you need to become familiar with is the R multiple principal. R stands for risk, the risk you take on any trade when you enter the market. The R multiple of a trade is the ratio of the profit or loss compared to the amount of money risked to make the profit or loss.
Therefore, if you risk $200 dollars in your initial purchase, and you make a profit of $1,000, you have made five times the amount you risked in the trade. You have an R multiple of five. This statistic gives you a good idea of the relative size of your profits to your losses. You can compare the average size of your winning trades with the average size of your losing trades.
The next statistic you`ll find useful is your win to loss ratio. This is how many times you get a winning trade in proportion to how many times you get a losing trade. For example, if you had ten trades, four of those trades were winners, and six were losers, your win to loss ratio is simply four to six. This is your hit rate; you`ll get 40% of your trades correct.
With these two simple statistics, you can calculate the average size of your profits and of your losses, multiply these figures with your win to loss ratio, and calculate on average how much money you make with every dollar you risk.
For those of you who think this sounds like a too much work, particularly using a Forex back testing plan that you need to do to uncover these statistics, consider this scenario: Imagine yourself trading a system that you knew had a win to loss ratio of 60/40. You made profit on every six trades and lost one out of every four. How do you think you would feel, where would your confidence level be, after you traded the system for a little while and you received a string of 11 losses in a row?
Now, you know that this system has a win to loss ratio of six to four. Would you have the confidence to open another trade if your system brought up another buy signal after getting 11 trades wrong?
Unless you use Forex back testing plan to back tested your system, I doubt that your confidence level will remain high. That trading system may be a fantastic profitable system. However, since you didn`t use your Forex back testing plan to back test it, you don`t know that historically this system received up to 13 losses in a row, but was still profitable.
Here`s another point you may not have picked up unless you used your Forex back testing plan. Once you`ve set your money management rules and you begin to trade, you will likely experience a string of losses. Countless times, I`ve had clients who get disheartened by this fact because they don`t understand the nature of setting good management. If you`re adhering to the rules of cutting your losses short and letting your profits run, because you`re cutting your losses short, those trades are going to last for a shorter amount of time.
This means once you begin trading the odds of getting losses early in the game are much higher than getting a winning trade. This is particularly true when you consider that many successful trading systems run on a 40/60 win to loss ratio. However, you will never know the intricacies of your system unless you use a Forex back testing plan and back test it.
Using a Forex back testing plan, will help you to understand what works and what doesn`t. It will give you the statistics to gauge the effectiveness of your trades. It fills in your scorecard, and allows you to make improvements. But, you shouldn`t simply believe everything I`ve told you. Instead, you need to prove it to yourself by using some Forex back testing plans and back test your system.-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=- David Jenyns is recognized as the leading expert when it comes to designing profitable forex trading systems.Discover the "secret formula" of trading that anyone can useto consistently generate BIG profits from the market by downloading your FREE copy of David's new UltimateForex Trading Systems course.Click Here To Download ==> Forex Trading Systemshttp://www.ultimate-trading-systems.com/forex.htm
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