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Thread: Forex Niche

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    Forex Niche

    hey guys ..I am hoping to meet someone with experience in forex trading and internet marketing. How is the niche for internet marketing and profitability. I am not a trader but have some experience with IM ... a good friend has played with forex for a while and we are trying to see if its worth getting into it for an IM niche.

    Any and all ideas / suggestions / input would be greatly appreciated.

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    Administrator Clinton is a Premium Member
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    It's very, very competitive. You'll find the cost of ads/leads extremely high and even the scam artists out there who have high conversion rates still need to keep their service charges pretty expensive to cover costs.

    If your good friend has "played with forex for a while" he knows next to nothing about it and would do the world a favour by not spouting his advice to newbies. Avoid using the guy unless you're looking to play the usual scam game of exaggerating his expertise and producing dodgy EAs (trading bots) to "prove" his genius. That route does work though - just look at how many rank idiots have products/services purporting to teach/help people make money with websites!

    If you want to study a good model, try sites like http://www.yourtradingcoach.com - read the extensive content they provide for free, sign up for their newsletter to examine the ratio of quality content to ads and maybe even spend some money with sites like these to see what type of value they provide their customers. (I have no association with that site, I just happen to remember it from some of the research I did a while ago into various MMO programs).

    If you want to be content based, a good example is http://www.babypips.com. You could go down the forum route like Big Mike did: http://www.bigmiketrading.com .... or, if your friend does know a lot more than he's letting on, you could start a service such as https://www.myfxbook.com.

    There are tons and tons and tons of scams in this field, here's one I reported on earlier: item 101 on this page.
    Find the right business brokers to maximise the value you extract from your business and improve the chances of selling your business.

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    JimWaller (31 March 2014), Kay (19 November 2013)

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    Hey Clinton, sounds like you know your way around the landscape, have you been actively trading?

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    Administrator Clinton is a Premium Member
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    I don't know about "actively" trading but I have in the past spent a great deal of time studying the works of chart readers such as Al Brooks, volume analysts such as Wycoff / Tom Williams and pattern theorists from Gann to Elliot (and others). Some of it was part of the MBA in finance, but most was out of personal interest. I do invest (my own money) and also occasionally take a short term trade if I like the look of the charts.
    Find the right business brokers to maximise the value you extract from your business and improve the chances of selling your business.

  6. #5
    Administrator Clinton is a Premium Member
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    Nobody else here do any trading? Peter, do you?

    Anyway, it looks like I scared marauf off. Maybe he was hoping someone would say yeah if you're good at IM you can make tons of money from suckers looking to get rich in the forex markets.
    Find the right business brokers to maximise the value you extract from your business and improve the chances of selling your business.

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    Forex is one of those things I believe you need to put a lot of time and focus into to do it "right" and while I'm interested I have too many other things going on to do it justice. This year I've been working on building a real estate company (buying houses in Texas) to diversify myself away from the web. Maybe I'll do Forex next year.

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