Survive and Prosper in the Great Depression of 2009 2012 A Step By Step Guide to Amassing a Fortune Trading Foreign Currencies
April 14, 2009 by Home Based Business · Leave a Comment
Millions of Americans are this very moment facing the most frightening economic conditions since the Great Depression. However, a small but growing number are living worry-free, having learned a skill that will keep themselves and their families not only living in comfort, but prospering like never before! That skill is Trading Foreign Currencies. Once the private playground of the super-rich, trading currencies is now open to anyone with a little knowledge and at least $200 to open a trading account. With this book, author and long time forex trader J.J. “Jeff” Glenellis explains everything you need to know to immediately begin prospering as a forex trader. From finding a broker and setting up your first set of charts, to learning how to easily spot certain Trade Set Ups that instantly become profitable, you’ll learn enough in this informative and entertaining book to instantly begin earning extra money each week as a Forex Trader.
User Ratings and Reviews
5 Stars Good bargain
I am on ongoing search for good FX books and I got to admit that Mr. Glenellis guide stands out.
It provides glimpse of what really is important when trading: plan, system and discipline. Although the author spares us technicalities of FX and the usual stuff in FX introductory books (history of FX, detailed FX markets structure etc.), he provides the base that an inspiring FX trader can use for building his success.
I fully recommend it to beginners and intermediate FX traders.
1 Star Amateurish, Untested and Risky
I bought the online version of this guy’s book last year, and joined his so-called “Trade Call List”. I paid $97 for this and all it ended up doing for me was make me lose $300 trading currencies.
His strategies are absurd and his suggestions are amateurish at best. Not only will you NOT get rich following what’s written down in this book, but you will most likely lose every penny you spend trying to implement his advice.
The strategies range from being vague and complicated and highly-discretionary, to being outright wrong and having no chance of ever working. The impression I got after more research was that he borrows bits and pieces of tactics from different places, information that has been around for a long time and puts them together as “his” strategy, without ever giving the complete picture. He always leaves out some important information that makes long-term success elusive.
As an example, the strategy involving the GBP/JPY breakout. This doesn’t appear to work in the long term. If you trade it the way he suggests, trading every single breakout every single night, you might make some gains, but you will more likely end up giving back all or most of these gains, especially if you use a 1:1 reward-to-risk ratio.
I say this because this is what happened to me. This is how I lost $300 trading currencies. The only way this might work is if you use a 2:1 reward-risk ratio, using 100 pips as your profit target, and 50 pips as your stoploss, and move your stoploss to breakeven after you gained 50 pips. If the market was willing to give you that on a consistent basis, this strategy might work.
But, even then, you have to be prepared for some severe drawdown months, especially in the summer(low-volume) months from June to August. The months I tried it in were July and August of last year, and I just kept having loss after loss after loss. The few wins I had were not enough to make up for the losses, and I ended up blowing through my entire account.
Another way it might work is if you were somehow able to predict how far your winners would go, and then “let these winners run”, as the saying goes.
Jeff said nothing about the risky summer months in advance. He only mentioned it after the fact, to subscribers of his “trade call” list. He also said nothing about the risk of drawdowns.
I have since read that it is better not to trade breakouts alone, in and of themselves. You should only trade breakouts which have a bias to them, bias meaning a pre-existing trend, and this trend should be of a certain strength. Not all trends are created equal. Not only that, but the channel that you are trading the breakout from has to be a certain size and a certain shape- the smaller and more narrow it is the better.
He says nothing about this in his book. I had to discover it on my own, after losing $300 following his advice.
After being on his list for awhile, I have discovered that he tries out different strategies in a haphazard fashion, all of which are highly untested, and all of which seem to lose money in the long-term. I haven’t made a dime following any of his recommendations.
The only good thing I can say is that I have gotten a few good ideas here and there from his book and list, ideas which were only mildly interesting and only somewhat helpful.
As far as making a million dollars in four years following his advice, it hasn’t happened to me and I doubt it will happen to you. This is what’s known as “hype”. My advice would be to take his book with a huge grain of salt.
At the very least, practice the strategies on a demo account for at least 3 months, before committing real money to them. Be certain that you ended the 3 months in profit. And, even then, be sure not to over-leverage yourself. From my experience I would suggest that you prepare for the worst-case scenario, and make sure that worst-case scenario would only wipe out a quarter(one-fourth) of your account. Even less than a quarter would be preferable.
The worst-case scenario, in my opinion, is losing 4 times in a row, 4 consecutive losses. You should make sure that losing 4 times in a row will only wipe out a quarter(one-fourth) of your total account balance. If you then lose again on the fifth try, reduce your trading size to one-half of what it was. Then try 10 more times. If you lose 10 more times in a row, stop trading for the month. Either try a new strategy or wait until another month and try again.
I think the following items are worth looking at:
The London Rush System.
My advice with this is to trade the first one that breaks out, when more than one is giving a signal. Use a 100-pip profit target and a 50-pip stoploss. Move your stoploss to breakeven when you’ve gained 50 pips. Make sure to use the included MT4 indicators and template. Also, I would stay away from a currency whose spread is more than 15 pips. I’ve been making a consistent 400 pips a month with this so far. MIG is the best MT4 broker to use with this because they carry all of the GBP-crosses, and they let you use their MT4 demo for free.
Forex Deal Butler
This one is really expensive, but it seems to be really good for daytrading. However, I have not yet tested it myself.
Solomon FX
They have tons of strategies which are apparently well-tested.
You can find these items by looking them up on Google or Clickbank.
4 Stars A good Manual with simple strategies
Good Morning
This book could be a good starting point for people aiming to trade in the forex markets and are looking for advise from some one who claims to be a full time trader. It is explained in a very simplistic manner and straight to the point in most of the cases. It covers 5 strategies and in only one of them shows the results during a month in a half of trading such strategy. Other than his results, It is the psicology behind trading during such period that is very important, because back testing a system can be a little complicated from the mathematical point of view and trying to get objetive conclusions it is too. But it is easy to follow back testing because there is no strees at all involved during loosing periods, nor the real life to deal with, while trading that we the “normal and functional” human beings have to live trough. So the author share with the lector such moments and give us good thougts to continue trading.
Also he talks about turning $1000 usd into $1,000,000 usd in less than 32 months with good money management. I think this aproach is partially the correct one for traders, because aims to create equity rather than creating monthly or daily cash flow from a very skinny account, which most traders had tried once at least once (me included). If you focus first to protect your account and make it grow enough then you will probably enjoy the benefits of becoming a full time trader. But this is a bussines and because of that you should not take money from it during the first years until the bussines has grown enough to pay you back.
What I dissagree a little bit is his money management rules for his plan, because only consider winning trades, which as he said there are three things that may happen while in a position and two of them are good and one is bad. One can win, the other may break even and the third may loose, but with intelligent money management you could avoid loosing your entire equity in your account. As Warren Buffet says: “If you want to finish in first place in a race, first make sure you finish the race”
None of its methods suits for me and not because they are bad at all, but I took part of one that is trading break out range for the GBB / GPY and adapted for the GBP / USD for break out during Australia and Asia Session, because fits better my biological clock here in America, and in back testing (the easy part) seems to give nice profits with a steady manner (200 to 300 pips per month), but as Glenellis says in this book. “No one wins all the time…. Not even me…”
If you are curious and want to know about this system, don’t hesitate to send me an email to:[...] I will be glad to show it, so feed back can make it better.
Best regards
Alejandro Reyes Buitron
5 Stars An absolute must
After so far reading a handful of books on the subject this has to be the `icing on the cake’. Although I do need to mention it is not for the total novice but more so those who have a more intermediate knowledge on the subject, however I believe it an a must read for all serious traders. Definitely no fluff here, this is real getting down to business and rolling the sleeves up material. Jeff’s trading techniques are a gold mine as long as they are adhered to. An arsenal of trading strategies which could well serve as the cornerstone of any serious trader. With good reviews already to back it up the title of the book clinched the deal for me. I for one am glad I did : )
5 Stars thorough and specific
I enjoyed reading the book and the author seems to be very sincere about trying his best to help any would-be currency trader. I haven’t yet tried his systems, but I’m convinced if you follow his advice faithfully you can make some money.
The Womens Millionaire Club The Closely Guarded SECRET SUCCESS RECIPES of Millionaire Women for Building and Owning a Million Dollar Home Based Business
April 14, 2009 by Home Based Business · Leave a Comment
Why do some Women make Big Bucks in their Home Based Business and Others Don’t? Is it Luck, Karma, or did they know something we don’t know? MGM opens the Gift of Possibilities in this scrumptious book, The Women’s Millionaire Club. MGM shares the succulent Secret SUCCESS Recipes of Twenty-One Women Millionaires. Each Top Performing Home Based Business Woman Millionaire stirred the right ingredients to mix up a batch of Million Dollar Success. You, too, can create that same luscious Million Dollar Success! MGM opens the Gift of Possibilities so the Impossible Becomes Possible. How Ordinary women with NO Prior Experience in owning a Home Based Business did the ExtraOrdinary– MADE MILLIONS while MAKING A DIFFERENCE -The Success Ingredients ALL the Women Millionaires had that You Must Have to Succeed in a Home Based Business.How YOU Can Create the SAME Success whether you are a veteran, newbie or wanna be Home Based Business Entrepreneur using their amazingly simple Success Recipes to Make Money while Making a Difference Women entrepreneurs are the fastest growing segment of the economy, starting businesses at twice the rate of men. MGM, Maureen G. Mulvaney, is the industry leader in teaching entrepreneurial women the Learned Success Traits to Succeed. When she couldn’t find a book that provided validated data about the traits, ingredients and recipes to succeed in a home-based business, MGM wrote The Women’s Millionaire Club! Join the Club…
User Ratings and Reviews
5 Stars Recommended for network marketing leaders
“When we think of millionaires,” says Maureen G. Mulvaney, who goes by the acronym MGM, “most of us automatically think of men.”
Upon entering her professional life, MGM was told she would have to be more like a man to succeed in the world, that dominance and control are what gets you results in business. This did not resonate with the values she grew up with, and she embarked upon a journey to research and document how women create financial success by honoring and celebrating female traits such collaboration, support and connection. Her search naturally led her to women in network marketing and direct sales careers.
The Women’s Millionaire Club starts with the story of MGM’s childhood and how her dream was born to write a book for women. Her heart’s desire was to explore and showcase the traits and recipes of successful women, so readers could emulate them and achieve similar results.
The author then shares the results of her research, profiling twenty-one female millionaires who offered her the opportunity to conduct surveys, assessments and interviews with them in order to uncover the secrets of how they attained success. Each of the women shares her background, her strengths, her ingredients for success and the legacy she wants to leave. All twenty-one women are top earners in established network marketing or direct sales companies.
MGM’s vision for the The Women’s Millionaire Club is to “educate, empower and energize all home-based business women.” Her dream is to see more women millionaires committed to making a difference on the planet.
How and Where to Locate the Merchandise to Sell on eBay Insider Information You Need to Know from the Experts Who Do It Every Day
April 14, 2009 by Home Based Business · Leave a Comment
Entrepreneurs in record numbers are setting up shop on eBay, according to a new survey conducted for eBay by ACNielsen Media Research International. More than 724,000 Americans report that eBay is their primary or secondary source of income. In addition to these professional eBay sellers, another 1.5 million individuals say they supplement their income by selling on eBay, according to the July 2005 survey. In the last six months of 2005, eBay members in the United States sold merchandise worth approximately $10.6 billion. As you can see, finding the customers is not a problem locating quality items to sell, is the challenge. So what do you do when you are done cleaning out your closet and attics? Where do you find the merchandise you need to sell on eBay? That s precisely what this new book is about: where to find products that you can buy for a few cents on the dollar and resell for massive profits! This book is intended for online sellers who want to build a business that can be increased over time by selling primarily new merchandise in quantity. You will be provided detailed insider information on: wholesalers, drop shippers, auctions, closeouts, discontinued merchandise, overstocks, salvage items, surplus merchandise, below wholesale products, customer returns, wholesale trade shows, suppliers, liquidators, close out firms, foreign and domestic manufacturers, and places to look in your area. In short you will learn to become a product sourcing pro and make money on eBay with products including: clothing, mixed lots, electronics, tools, furniture, general mixed merchandise, domestics, housewares, antiques, books, shoes, jewelry, toys, gifts, sporting goods, hardware, and much more.
User Ratings and Reviews
5 Stars Very Helpful Source
Very helpful book. Doesn’t cover the basics of listings, if that’s what you are looking for. Great for sources for ideas for services and for purchasing products to sell.
2 Stars Disappointed!
I was extremely impressed with Amazon’s shipping speed, and the book’s 288 pages can easily be read in only a few hours. It provides a wealth of information for a “rank beginner” who’s hoping to sell on Ebay, but I have read similar information in some of the FREE eBooks I’ve downloaded during the past year. This book does put the facts at your fingertips so you don’t have to waste alot of time hunting for them, but it focuses mainly on the “basics”, and using common sense. The very small directory of wholesale resources included at the end of the book leaves a lot to be desired. If you have no interest in selling the products the author has listed, then the Directory is of little value to you. I was swayed into buying the book because of all the positive feedback it received, something I won’t do again. And, this was the first time I purchased a book directly from Amazon, paying full price, something else I won’t do again. In my opinion, this book serves primarily as a starter’s manual, as it does not offer much to someone who already knows the basics. I feel I wasted $[...] (with shipping) and I’m going to sell it on Amazon, and search for a book about becoming a more advanced seller, using techniques and resources Power Seller’s use. If you’re a beginner — Buy This Book!!! — but if you already know the basics — save your money and look for something better suited to “your” needs.
5 Stars Extremely Helpful book
I found this book to be so helpful. It provides a world of knowledge, along with helpful hints on aspects of buying and selling merchandise on ebay. I highly recommend this book to anyone wanting to take the next step towards becoming a power seller on ebay.
5 Stars Finally, an ebay book that delivers!
This was the fourth book I’ve read on selling on ebay and it easily outshines the other three. It actually delivers what the title says and is very well written.
5 Stars Never run out of sources for merchandise again!
If you are contemplating on starting an eBay business or are looking at expanding an existing one, this book is for you. After reading this book, you will never have to wonder where to find things to sell on eBay. You will still need to do your homework, but this book points you in the right direction.
The authors cover almost all possible areas in which to locate merchandise to sell, from local to international. (I say almost, because they don’t mention about shopping local clearance sales, off-price stores, or merchandise outlets, which is where a lot of eBay sellers I know get their items). I thought I had heard it all, but even I learned a lot about product sourcing. Who knew about the Chatujak Market in Bangkok, Thailand, where you can find the most unusual items you can think of for real cheap?
Not only do the authors reveal where to purchase merchandise, but just as importantly, they give you the strategies on how to get the most out of your product sources. Another great thing is that they help put your eBay business in the proper perspective, by emphasizing how you can compete, even with the big box merchandisers, like WalMart, with great customer service and/or by finding your niche and specializing in it. Every seller, no matter how small, can find a place in the marketplace. It just takes a little more creativity.
My only quibble with this book is the authors’ suggestion to save on shipping costs by forgoing purchasing delivery confirmation when shipping via the US postal service. As an eBay seller myself, I know how important it is to keep your costs down, but not shipping with any type of tracking is actually against eBay rules, and some buyers will insist on getting a tracking number of some sort. The only bad advice in an otherwise fantastic, informative book.
Craft Inc Turn Your Creative Hobby into a Business
April 14, 2009 by Home Based Business · Leave a Comment
Craft Inc Turn Your Creative Hobby into a Business
Craft, Inc. is the hipster business primer for entrepreneurial crafters to turn what they do for fun into what they do for money. Pro crafter Meg Mateo Ilasco offers a step-by-step guide to everything from developing products and naming the company to writing a business plan, applying for licenses, and paying taxes. Chapters on sales, marketing, trade shows, and publicity round out the mix. Plus, in-depth interviews with such craft luminaries as Jonathan Adler, Lotta Jansdotter, Denyse Schmidt, and Jill Bliss provide inspiration and practical advice. Accessible, informative, and more than a little spunky, Craft, Inc. paves the way for today’s creative minds to become tomorrow’s trendsetters.
User Ratings and Reviews
1 Star NEVER RECEIVED MY BOOK!
I placed my order, waited a month for the book to show up, and NOTHING. I contacted the “seller” and received NO response regarding the status of my order. I’m now trying to get my money back and have yet to see that either…. it’s been almost two months. I would NEVER order from this seller again.
4 Stars Helpful Practical Tips to Get Started in Crafting Your Business
This is a great book to help artists and crafters understand what is needed to launch their creativity into a full-fledged business. Everything is covered from copyrighting and trademarking to marketing to forming a business to branding and even office supplies. There is also a very thorough and helpful section on maneuvering trade shows, cold calling, and internet presence for the start-up business. I found in launching my own creative business that the best way to use this book was in chunks and chapters as I went along in the establishment of my business, rather than reading it start to finish. I used this as a reference guide more than anything. An added plus: The design of the book makes this a pleasure to read and the size of it makes it great to carry in a tote or backpack for on-the-go meetings.
5 Stars Great !
Love this book. It gives useful tips and information. It is clear and cohesive, well designed etc. For the price it is a great value.
5 Stars Great Book!!
This book is a great reference guide and is very easy to read. Anyone thinking of starting a business in crafts should be encouraged to read this book!!
5 Stars Excellent book
This book definitely earns five stars. Its easy to understand, inspirational and great for people just getting started in the craft business. I felt she was talking right to me. I’ve been hesitating for a while about starting a craft business and have been inspired to go ahead and go for it. I found this book extremely helpful.
The Home Based Bookstore Start Your Own Business Selling Used Books on Amazon eBay or Your Own Web Site
April 14, 2009 by Home Based Business · Leave a Comment
Want to know the most profitable, lowest-risk idea for your home business? It’s selling used books online, which is growing 33 percent annually, according to a November 2005 study by U.S. publishers. Here is the complete text of the most popular book about online bookselling of all time: The Home-Based Bookstore: Start Your Own Business Selling Used Books on Amazon, eBay or Your Own Web Site Learn how to start your business part-time, then work as little or as much as you want. This step-by-step guide, written by one of the most successful and highly rated sellers on Amazon.com and eBay, includes everything you need to know: — Where to find books Find books in your own neighborhood to resell profitably to a worldwide pool of ready buyers. Get the best sources for valuable used books at low prices. — Where to sell Learn How to list your books to sell at the best price on Amazon.com and eBay, and even your own Web store. — Which books to buy What to look for in fiction, nonfiction, and collectibles to resell at the highest profits. — Grading and pricing your books How to describe and price your books. Learn what buyers are looking for. — Handling customers Tips on handling online book buyers. See the author’s time-tested scripts for responding to customer issues. Learn how you can get and maintain high feedback ratings. — Fulfilling orders Easy-to-use ideas for storing, organizing, and shipping your books and handling returns. — Automation tools Maximize your efficiency with these tips on automating your business. Automatically notify customers about shipments, and print postage to ship your books without leaving home. — Taxes and legal requirements How to register your business to obtain the proper permits and be exempted from paying sales tax on your inventory. — Exclusive list of wholesale book distributors Exclusive profiles and contact info for 32 wholesaledistributors of used and new books. Order inventory at up to 90 percent off retail, shipped right to your door. About the author: Steve Weber started his home-based bookstore as a hobby in March 2000. Two months later, he quit his day job to sell used books full-time on Amazon.com and eBay, using his one-bedroom apartment in Virginia as warehouse and shipping depot. In the meantime, he has sold more than $1 million of used books to buyers in all 50 states and 31 foreign countries. In this step-by-step guide, Weber tells you how he took $80 in savings to buy his first batch of books, then invested the profits to build a successful business, and how you can too.
User Ratings and Reviews
4 Stars Good Reference for Beginning Booksellers
The Home-Based Bookstore is a good introduction to online bookselling. However, needs more detail and could do a better job of guiding beginning booksellers through the maze of online bookselling. I realize, however, that it’s hard to keep up-to-date in this fast moving market. I especially enjoyed the chapters on where to find books and how to price them. The chapter on Where to Sell Books was too short and probably overly optimistic. Doesn’t mention such mega booksellers as betterworldbooks, that seem poised to undercut all sellers and how individual booksellers can compete against non-profit booksellers who rely on donated (aka “free”) books to sell. All in all, however, I would recommend this book for anyone thinking of getting into online bookselling.
4 Stars THE HOME BASED BOOKSTORE REVIEW
Very good book, Have not finished ityet and already feel very well prepared and informed ahead of my future venture. Recomended !
5 Stars Very informationative!
This book was very informative and referenced a lot sources that I need. Great book for starting an online bookstore.
5 Stars Like almost all of this author’s books, worth buying
I would buy almost all of this author’s books without reservation. They are not as complete as some others, but often contain information that is found nowhere else. In this book, I particularly like 2 things. He mentions what books to avoid. He also has a list of software to use to list books, and he also has a small list of online postage vendors (this should be bigger), a small list of book wholesalers, list of supply vendors, and quite a lot of other very useful information.
In short, if you are interested in the online selling of books, this is a really good book to buy.
5 Stars Buy it!
This book was like a cool drink of water on a hot summer afternoon.
Searching for a ‘how to’ book is close to visiting the dentist, spending an evening with an insurance agent or buying a used car. Wading through all the hype and useless cannon fadder to find the one quality resource is a mountain of a chore that I don’t relish! But, once the choice proves to be quality the agony is soon forgotten.
This text is quality. Buy it.
Weber writes well - good organization, clear presentation of ideas, etc. He gets to the point quickly and stays there throughout the book. Chapter after chapter contains resources (with a balanced commentary) on where to buy books, where to sell them, how to price books, how to grade them, managing your inventory, etc.
Unless you know it all already there will be many gems in this book that will be well worth the price.
As a novice bookseller I was hoping to sharpen my skills with advice from a pro. Weber delivered!
Glad I found it! I do recommend it.
texastrader
