Hi,
Does anyone on this forum have experience in both these fields? I am considering embarking upon a career in forex but distracted by the drawdowns and risks involved and feel affillate marketing can be more of a minimal risk.
Can i trade for a living for the next 2 years just starting up and learning. I heard that forex you can make an income quickly but dont rely on it to pay off your monthly bills? true?
Thanks.
hi
you are right, affiliate marketing is pretty risk free, though i am not sure how much of a reliable income you can make with that option.
Forex can make a quick income, and yes that isnt something to count on. But you can trade forex for a steadier income, though of course that nothing like a salary. what i mean you take what the market gives you, maybe one month feels like a jackpot, another is just little over even, maybe some lossâŚthe income might be there, but not evenly distributed.
how long does it take to learn? depend on you, your personality, your expectations. it isnt a free lunch to be sure, and lots of ppl lose moneyâŚguess lots of ppl leave marketing too, though.
if forex would be that easy, all traders would be millionaires after 2 yrs studying. oh and probably all ppl geniuses then after 12-15 yrs of school? lol, no they are not, i am not. see, time of studying not really indicative, more matter what you can show up after it, that you learnt and able to use.
With either of these fields you have to remember your going to be competing with others that have been doing it for years. If I had the choice knowing what I know now I would have went Affiliate Marketing. But even then your not going to make any real money with out your own siteâŚwell unless you want to take the Black Hat route.
In Forex take advice someone tells you with a gain of salt. Donât trade till you KNOW SOMETHING , NOT when you think you know something.
Oh and none of these so called systems listed on any forums are gonna make you money in the long run. They might have luck on there side for some time but in the end they will all be back talking about the next great indicator.
If you really want to trade its gonna take everything you have, you cant hold back. Your mind is to be in it 24 7
2 years? lol Theirs tons of traders on the floor, they can see and hear everything that goes on and they still lose millionsâŚwhat makes you think that someone sitting by a laptop has a chance???
Not trying to discourage anyone but a lot of people on here need a reality CHECK. :rolleyes:
Hi,
Well Iâm not too sure how well youâve researched either option so if Iâm telling you things here that you already know then please ignore my comments (but either way I hope this creates an awareness at least to others and Iâm quite pleased that youâve brought the subject up).
Be careful with AMPâs (âAffiliate Marketing Programsâ) i.e. they are most certainly not all âcreated equalâ as it were. The AMPâs that Iâve seen are nothing more than cleverly run and well marketed Ponzi or Pyramid Schemes disguised as an AMP (well at least the ones that have been brought to my attention particularly during this year). Iâve watched people simply âploughâ THOUSANDS into these things (because when I told them that if they could CONSISTENTLY make anywhere between 5% and 10% per month trading forex then they would be doing very well so, of course, they went the AMP route and, well, they will never see their money again and theyâll wait a lifetime for their âship to come inâ). I donât know of one of them that as ACTUALLY paid out as was âguaranteedâ. Donât get me wrong: Iâm certainly no expert on the matter. Iâm just telling you about my experiences (or should I say Iâm just telling you about OTHER peoples experiences) with them. So far as I can tell the âwarning signsâ are: being required to put money into the scheme or earnings that depend on your âintroducingâ the program to others in order to make money or âguaranteedâ astronomical profits in âguaranteedâ short periods of time.
Now donât get me wrong here either i.e. this business of trading is MOST CERTAINLY NOT âsqueeky cleanâ either let me make that quite clear. Only this last week was it brough to my attention that some local traders have also got a âschemeâ going whereby âguaranteeâ a certain amount of profit for a certain period (and the astronomical âguaranteedâ percentage returned and the time period depends on the size of the âinvestmentâ). Given the returns that they are âguaranteeingâ for the appropriate period: unless they have a certain âgiftâ that nobody else in this business has there is simply NO WAY itâs sustainable. If theyâre as good as they say they are: there isnât a broker in the WORLD that would not offer them a 7-digit salary and they wouldnât even have to trade i.e. theyâd simply walk in to a high power management / advisory position at Goldman Sachs for example!!! LOL!!! I think I know what theyâre doing (at the moment they are indeed âhonouringâ their âguaranteesâ): I believe that they are actually trading the money but any shortfalls are being made up out of money from the latest âinvestorsâ and eventually itâs going to âfall overâ (and unfortuanately I donât know the name of their company i.e. somebody just mentioned to me that this little âschemeâ was operating at the moment locally but was no more specific about it other than the âguaranteedâ astronomical returns which, sadly, is what most human beings, especially those that donât understand the business of trading, tend to focus on)!!!
As regards YOU trading YOURSELF: everyone else quite right i.e. itâs a full time job like any other that requires work and study. Itâs not quite as complicated as many people think though i.e. I also used to think that âthe more complicated the betterâ but Iâve learned the very hard way that this is a major reason for failure and does NOT contribute to success I can assure you. There are certain basics that one has to learn of course but good trading systems that are profitable can be found on this and other sites. Sorry JFXnc i.e. Iâm afraid I have to disagree with some of your comments about this site and not taking advice from others (of course the person giving the advice should be credible) and Iâm really sorry that youâre so negative about this business and I can only attribute this negativity to bad experiences in this business and I truly do âfeelâ for you i.e. I had a rather âspectacularâ âwipe outâ after my first two years of trading and lost a LOT (and I mean a LOT) of money and there was quite a long period where I too questioned whether or not itâs possible to trade for a living but now, three years or so on, I know it is because itâs taken me that long to realise that it was not my trading systems back then but ME and my own personal shortcomings (and of course not following strict money management rules and listening to the so-called âeducated analystsâ but thatâs a discussion on its own really). My advice is to NEVER PAY for a trading system or âtrading robotâ (EA) because that to me is again a âwarning signâ. And donât be conned into paying for âmentorshipâ either. There is nothing that a mentor is going to teach you that you cannot learn from sites like these for FREE. Buy a few good books written by CREDIBLE authors on the subject and youâll be âgood to goâ. Learn to trade yourself and as I"ve noted: itâs really not that difficult (this in hindsight of course). Your BIGGEST hurdle in trading is to conquer your own emotions. The rest really is by no means ârocket scienceâ.
I DO, however, have to agree with you JFXnc on ONE thing though!!! LOL!!! I watched a trading training video given by a floor trader and during the Q & A portion the guy was asked what percentage of (futures) traders were successful. His answer (and Iâm not sure of the figures here but the percentages are correct): he said âthere are about 100 000 futures traders in Chicago and about 20 000 of them are on the floor and statistics show that only around 20% of (futures) traders make money so you figure it out for yourselfâ!!! LOL!!! It went something like that anyway!!! Basically he intimated that âyou cannot beat a floor traderâ and this I myself DO believe but thatâs not to say that a trader cannot be profitable with electronic trading i.e. itâs just the basic fundamental concept that are different is all. Unfortunately I cannot remember who the trader was but I do seem to remember that heâs pretty well known (I remember recognising his name at the time) but his name escapes me now and Iâm darn sorry that I deleted the link to the video because Iâd like to have watched it myself again!!! And if I had MY time over: Iâd STILL be a trader the only difference being that Iâd be a very wealthy man right now (given that I would obviously not have made the same mistakes that I made) instead of trying to âclawâ my way back very slowly to the (financial) level that I was at back then!!!
As far as making money trading FOREX: well Iâm not convinced myself i.e. I trade equities, futures, and commodities but this is only because, as I noted my own personal shortcomings aside, my âspectacular lossesâ were all incurred trading forex pairs. OVERALL Iâm âupâ on trading equities, futures, and commodities but the losses on forex trades unfortunately overshadow those profits made by a HUGE margin. I have other reasons for this belief (which Iâve noted in detail on some or the other thread around here). Also: I believe that my trading systems are not suited to trading FOREX (they were all designed by equities and commodities traders with one possible exception and that system I would not say if HIGHLY profitable). Put it this way: Iâll trade a forex pairs but ONLY if itâs one of those âas perfect as possibleâ setups otherwise thereâs âno wayâ for me!!!
Iâm not sure if any of this is going to help you in making decision. All I CAN tell you is that if this is the route that you decide to take there are some very good people around here that are only too happy to help an answer any questions that you may have (and there is no such thing as a âstupid questionâ i.e. we ALL asked âstupid questionsâ when we started out I assure you)!!! LOL!!!
One last thing though: I donât care what a person is trading i.e. itâs certainly not either âeasyâ or âquickâ money (it CAN be ON OCCASION but itâs CONSISTENCY that counts in this business)!!!
Regards,
Dale.
Very long and interesting discussion.
They are pretty different.
Forex Trading means ability to market analysis while affiliate marketing deals with people and the art to convince it to buy something.
You can start a blog where you publish forex beginner article with some affiliate ads. If you posts are good, you will probably get some referer and commission too.
Good luck.
No bad experience here, I rather like trading myself and cant imagine anything else I rather be doing. Yes I have blown an account before(who hasnât)âŚBut the amount of time it takes someone to get the feel of the markets, and to even have a chance at breaking even in the long runâŚTo say 2 years is good enough is a joke. Now maybe night and day 7 days a week for 2 years.
Just seems like everyone has the impression that there going to go through the forums grab a couple Indicators then retire, and thatâs what most BROKERS feed off of. Just sad really.
Hi JFXnc,
Sorry for my jumping to conclusions (always a bad thing)!!! LOL!!! I do now understand where you were coming from.
As far as AMPâs are concerned (just by the way): something I forgot to mention is the fact that the dubious ones very often donât even have a product associated with them. Another âwarning signâ.
For interest sake: I did look at something like Google AdSense (Iâm not sure if this qualifies as an AMP) but so far as I can tell you need a LOT of âclicksâ to make any money!!! LOL!!! But then again: I forget that in the USA youâre talking about MILLIONS and MILLIONS of people so even small amount of âclicksâ could add up over time.
But hey: this is just one persons (my) opinion based on the bullsh*t that Iâve seen. I could be wrong (and I probably am) in that there are indeed viable and honest and profitable AMPâs out there. I just donât see that given the same amount of time and effort one could make the same amount of money within the same period as would be possible trading. One caveat of course is that with trading you can lose money whereas with a (credible) AMP I guess you cannot (well other than your setup costs etc. if things donât go according to plan).
Regards,
Dale.
If we take a look around the netâŚor almost any web page for that matter, we can see profit from Affiliate marketing, âŚeven the very site where on now. But trying to find profitable Traders is a whole other story. Fund managers are not included, their not traders.
I had a experience of boath field. As of my knowledge Forex and affiliate marketing are hard until you learn and gain a basic experience but once you got, it is a easiest way of money making.
In my point of view affiliate marketing is the best one that you can earn money while you are in sleep. But it requires some basic Internet marketing knowledge such as SEO,SMM. If you are wealth you can hire a freelance SEO for your product and make you first step sound way.
Op whether or not you decide to trade, be an affiliate or a combination of both, you will need to have a through understanding of what you need to do to be successful for each and thatâs a different time for everyone and depends on how fast you learn and can apply what youâve learned.
As dpaterso, put it; âI rather like trading myself and cant imagine anything else I rather be doing.â You need to be able to say the same thing and see yourself doing it. Everyone before they understand trading wantâs to be a trader. When they hear times like youâll need 2,4 and 6+ itâs easy to listen, but doing it day after day is not easy. And recruiting traders is no different. It takes time, skill and patience. I love this quote when it comes to recruiting people for any business not only trading. âEveryone wants to be your brother, until the rent comes do.â
Whatever you decide Good Luck
Gp
Probably been & gone & enjoying the fruits of their labors in nearly 4 years. :lol:
Forex Trading 1-0 Affiliate marketing. However, if you are still struggling with forex trading it wont hurt if you try to make some side money like an affiliate.
Forex Trading 1-0 Affiliate marketing. However, if you are still struggling with forex trading it wont hurt if you try to make some side money like an affiliate.
Guys, the question was asked in [B][U]2010[/U][/B] ⌠
Interesting to read, not gonna lie.
But In my opinion, these two big areas are combined most of the time, big traders easily trusted by newbies and follow them. Thatâs where affiliate program come in use, you bring people and receive a commission from this. Iâm an affiliate for a long time, being trying many programs and what I would suggest is to promote something that everyone knows, those things sell easy⌠binary, forex platforms are popular now, but you should also find a good affiliate program.
[Edited for a Forums Violation]
Both fields were familiar to me. As far as I know, Forex and affiliate marketing are difficult to learn and obtain basic expertise in, but once you do, it is the simplest way to make money.
Both FX trading and affiliate marketing are great ways to make money. One of the main differences between the two is that affiliate marketing doesnât require any capital while forex trading does. Forex trading requires some knowledge and experience of financial markets, which will take some time to master fully.