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 loss…the 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 money…guess 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 site…well unless you want to take the Black Hat route.
In Forex take advice someone tells you with a gain of salt. Don’t 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 millions…what 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 I’m not too sure how well you’ve researched either option so if I’m 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 I’m quite pleased that you’ve brought the subject up).
Be careful with AMP’s (‘Affiliate Marketing Programs’) i.e. they are most certainly not all ‘created equal’ as it were. The AMP’s that I’ve 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). I’ve watched people simply ‘plough’ 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 they’ll wait a lifetime for their ‘ship to come in’). I don’t know of one of them that as ACTUALLY paid out as was ‘guaranteed’. Don’t get me wrong: I’m certainly no expert on the matter. I’m just telling you about my experiences (or should I say I’m just telling you about OTHER peoples experiences) with them. So far as I can tell the ‘warning signs’ are: being required to put money into the scheme or earnings that depend on your ‘introducing’ the program to others in order to make money or ‘guaranteed’ astronomical profits in ‘guaranteed’ short periods of time.
Now don’t get me wrong here either i.e. this business of trading is MOST CERTAINLY NOT ‘squeeky clean’ 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 ‘scheme’ going whereby ‘guarantee’ a certain amount of profit for a certain period (and the astronomical ‘guaranteed’ percentage returned and the time period depends on the size of the ‘investment’). Given the returns that they are ‘guaranteeing’ for the appropriate period: unless they have a certain ‘gift’ that nobody else in this business has there is simply NO WAY it’s sustainable. If they’re as good as they say they are: there isn’t a broker in the WORLD that would not offer them a 7-digit salary and they wouldn’t even have to trade i.e. they’d simply walk in to a high power management / advisory position at Goldman Sachs for example!!! LOL!!! I think I know what they’re doing (at the moment they are indeed ‘honouring’ their ‘guarantees’): I believe that they are actually trading the money but any shortfalls are being made up out of money from the latest ‘investors’ and eventually it’s going to ‘fall over’ (and unfortuanately I don’t know the name of their company i.e. somebody just mentioned to me that this little ‘scheme’ was operating at the moment locally but was no more specific about it other than the ‘guaranteed’ astronomical returns which, sadly, is what most human beings, especially those that don’t understand the business of trading, tend to focus on)!!!
As regards YOU trading YOURSELF: everyone else quite right i.e. it’s a full time job like any other that requires work and study. It’s not quite as complicated as many people think though i.e. I also used to think that ‘the more complicated the better’ but I’ve 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. I’m 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 I’m really sorry that you’re so negative about this business and I can only attribute this negativity to bad experiences in this business and I truly do ‘feel’ for you i.e. I had a rather ‘spectacular’ ‘wipe out’ 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 it’s possible to trade for a living but now, three years or so on, I know it is because it’s 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 ‘educated analysts’ but that’s a discussion on its own really). My advice is to NEVER PAY for a trading system or ‘trading robot’ (EA) because that to me is again a ‘warning sign’. And don’t be conned into paying for ‘mentorship’ 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 you’ll be ‘good to go’. Learn to trade yourself and as I"ve noted: it’s 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 ‘rocket science’.
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 I’m not sure of the figures here but the percentages are correct): he said ‘there 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 yourself’!!! LOL!!! It went something like that anyway!!! Basically he intimated that ‘you cannot beat a floor trader’ and this I myself DO believe but that’s not to say that a trader cannot be profitable with electronic trading i.e. it’s 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 he’s pretty well known (I remember recognising his name at the time) but his name escapes me now and I’m darn sorry that I deleted the link to the video because I’d like to have watched it myself again!!! And if I had MY time over: I’d STILL be a trader the only difference being that I’d 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 ‘claw’ my way back very slowly to the (financial) level that I was at back then!!!
As far as making money trading FOREX: well I’m 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 ‘spectacular losses’ were all incurred trading forex pairs. OVERALL I’m ‘up’ 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 I’ve 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: I’ll trade a forex pairs but ONLY if it’s one of those ‘as perfect as possible’ setups otherwise there’s ‘no way’ for me!!!
I’m 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 ‘stupid question’ i.e. we ALL asked ‘stupid questions’ when we started out I assure you)!!! LOL!!!
One last thing though: I don’t care what a person is trading i.e. it’s certainly not either ‘easy’ or ‘quick’ money (it CAN be ON OCCASION but it’s 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 hasn’t)…But 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 run…To 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 that’s 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 AMP’s are concerned (just by the way): something I forgot to mention is the fact that the dubious ones very often don’t even have a product associated with them. Another ‘warning sign’.
For interest sake: I did look at something like Google AdSense (I’m not sure if this qualifies as an AMP) but so far as I can tell you need a LOT of ‘clicks’ to make any money!!! LOL!!! But then again: I forget that in the USA you’re talking about MILLIONS and MILLIONS of people so even small amount of ‘clicks’ could add up over time.
But hey: this is just one persons (my) opinion based on the bullsh*t that I’ve seen. I could be wrong (and I probably am) in that there are indeed viable and honest and profitable AMP’s out there. I just don’t 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 don’t go according to plan).
Regards,
Dale.
If we take a look around the net…or almost any web page for that matter, we can see profit from Affiliate marketing, …even 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 that’s a different time for everyone and depends on how fast you learn and can apply what you’ve learned.
As dpaterso, put it; “I rather like trading myself and cant imagine anything else I rather be doing.” You need to be able to say the same thing and see yourself doing it. Everyone before they understand trading want’s to be a trader. When they hear times like you’ll need 2,4 and 6+ it’s 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. “Everyone wants to be your brother, until the rent comes do.”
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. That’s where affiliate program come in use, you bring people and receive a commission from this. I’m 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 doesn’t 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.