In the current economic situation that we find ourselves in, Britain for example has just entered a double dip recession, finding places to invest your money is become increasingly difficult. Consequently markets outside of the traditional stocks and shares markets have expanded, especially as many of them allow you to sit in the comfort of your own home and invest. This has led to a flurry of websites giving people the best chance to invest their money. Forex is one of the systems that has seen a rise in popularity, but it is an effective investment tool or one that should be used with caution?
Understanding The Risks
Forex certainly can be an effective way of making money, but as in many cases with financial tools similar to stocks and shares there is a risk involved. This means that you need to ensure that you have a large amount of capital before you begin forex trades. Many forex accounts will give you the opportunity of taking a demo account and practising with ‘fake’ money before you decide to invest in the real thing. With this practice behind you, you will want to know where the best place to start is. If you are risk adverse then stick with the well-known currencies, the US Dollar and the British Pound do not fluctuate at the levels other currencies. It is important to remember that with currencies such as the GBP and USD your chances of making large amounts of money are low, unless there is a major change in the markets. Consequently these currencies can be used for a steady flow of income if you are prepared to risk large amounts of capital on a trade, or to steadily improve you funds before moving onto riskier currencies.
If you are sure that you want to invest in forex and have the capital to do so, then taking on riskier currencies will give you the chance to make big amounts of money. This is when forex is at its most effective, and it can land you with huge profits overnight. For example you could decide to invest in the South African Rand, a currency that is riskier than the USD or GBP, then you may find that your results are far more appealing than any other currency you previously invested in. Obviously whilst this is the case you need to remember that forex is a tool which you need to take time with. Although at some points you may be making large amounts of money, you need to be prepared to lose some of your capital at points. This is part and parcel of many investments, and you need to remember that forex is not a get rich quick scheme. Investing in risky currencies is just that, risky, but it does give you the best opportunity of landing a profit.
Forex is effective and is without doubt a great way of making money, what you need to remember before any trade is that you are not guaranteed a profit. Forex is a risky investment, and without strong knowledge of the currency markets you may find that your initial investment is soon wiped out. With the right attitude, and with a solid amount of research you can be sure that forex will work for you, but as we have already discussed you need to be prepared for the fact that forex is not a get rich quick deal!
About Author: This article has been written by James who is interested in how you can make money from a forex trading account without risking all your investments.
Designing is a skill many people are born with while many other acquire it. Designing is an hobby for many. People generally don’t choose designing as career although they are generally very much interested. Their education and university degree don’t allow them to consider it as full time career option. However you can earn extra money if you are really good in designing. There are many websites which offer designing projects where you can submit your designs. You will get paid if selected by the design seekers. Such projects work on the basis of Crowdsourcing. Following are the list of websites offering open design projects.
- http://www.designbyhumans.com/ (for t-shirt designs)
- http://www.inkfruit.com/ (for t-shirt designs)
Hey guys, why are you waiting. Just submit your classic design to these websites and get paid.
We will come up with the review of these sites in future. So please subscribe to our RSS feed. All the best to you guys for getting shortlisted by the sponsors for your innovative ideas.
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Crowdsourcing term was first coined by Jeff Howe in 2006. It is made up of two words – crowd and outsourcing. It is a type of outsourcing. Outsourcing is done for two reason – to outsource the required task to a place where more skilled individuals are present or where skilled labor is cheap. All developed countries outsource their work to developing countries. The major difference between traditional outsourcing and crowdsourcing is that here there is no surety of getting paid.
A person in any need (sponsor) release an open call through a proper channel. These channels are accessible by a community (crowd) of people. Whosoever is capable to perform that work are free to contact the sponsor with their solution. Its up to sponsor to recognize the solution suiting them. They reward the people who has given the solution. If there are more than one solutions then sponsor has rights to select best (can be more than one) among them. Others will not get paid for the solution. However if sponsor is not satisfied with any solution they can drop the call under certain condition.
Technology and design task are amog most popular field where Crowsourcing works best. This is because even an student/younger individual can give the best solution. Crowdsourcing also provide an opportunity to work in a group to solve the problem.
However there are controversy on the concept of Crowdsourcing. This is because the benefit a sponsor get from an idea is much more compared to the innovator. Many companies not hire regular employees for solution but they just give a open call through an online platform. It save lots of their money. However this type of innovation exchange are very helpful for small investors and also help in bringing down the price of their products. Similarly innovators (crowd) is not bound to give the solution and they can take these opportunities as part time job. They don’t have to depend on this. Its good if extra money is coming. Otherwise their skill will be wasted. This work best in design projects as many people are good designer but they don’t take it as profession. They can earn money by giving solution to design projects.
Internet is full of these opportunities. You can search for a platform where people are in need of your skills.
Online advertisement can be an effective way to buy traffic at cheap rate (through placing advertisements) and sell it high (through ads). Google AdWords and Yahoo Overture are the most effective to drive traffic to any site. Both allow display of your ads on top of their search results. You can choose particular keywords for targeting visitors to your website. You have to pay certain price for per click.
1. Yahoo Overture: Yahoo Overture is the way of sponsored search which allows appearance of you ads on Yahoo and number of other search engines like Metacrawler, Dogpile, Excite, iVillage etc.
Choice of proper keyword is very important to drive traffic. Otherwise you will get non-targeted visitor who are not interested in your contents and it leads to lower profit. The frequency of the appearance of advertisements depends on how much advertiser is willing to pay for that particular keyword. However same keywords can be targeted for different prices. Certain keywords have a wide range of bid prices. If your site has content related to such keywords, you can use it to target new visitors. Distribution of prices for particular keyword varies with time.
Overture provides a way to see the current values of particular keywords. It shows how much company is paying for per click on that keyword. Whatever price you get from the advertiser when a visitor clicks on those ads, you will receive only a part of the part. There is always share of the Google and Yahoo, depending on whose network you are using. They never disclose how much their share is. However on average it around 22.5%. Therefore if you offer to pay 10 cents for a click to your site for particular keyword and show ads for $2.0, then you will make $1.45 for every click [(2-(0.10+0.45), here 0.10 is decided by you while 0.45 is Yahoo’s share]. It means that you will make profit of $1.45 for every 10 cents you spend. But this calculation assumes that every visitor is going to click on the ads. It is not the case. Generally only 3-5 % visitors click on the ads. Therefore you may be at lose or profit depending on the frequency of clicks. Bid of 10 cents per click will cost you $10 for every 100 visitors. Suppose only two visitor click on the ads then you will get only $2.9 ($1.45×2) in return. Therefore you should always look for keywords where you bid price while maximum bid price is very high. Otherwise you will be at losing.
2. Google AdWords: Google ads appear on the basis of bids. Your bids should be high enough to compete. You should bid the minimum possible per click to keep your profits high. However if you expect higher returns when a visitor come to your site then you can bid more.
Google keyword tool not only show current top bids on particular keywords but it also show top bids for other similar keywords. It provides a way to bring traffic with a particular keyword and send the outward traffic (via ad) through other related high paying keyword. Except this all other things are similar between Overture and AdWords.
Any network you use for advertisements, the price you pay to get the visitor should not be less than revenue generated from such visitor. To raise the interest of the visitor on those ads you can mention about those keywords (for which advertisements are shown) in your content. As you know the keyword for which ads is displayed you can easily do this. To bring the highest paying ads you have to target particular section of your website which can display those high paying ads. It is required as all sections of your site may not have the proper keywords with high earning potential. Also try to keep the ad unit as small as possible; larger ad unit will display more ads and the difference between their CPC (cost-per-click) may be huge. This may lead to wastage of the click value.