Great Tips To Earn you at List 300% of Your Investment From Affiliate MarketIt will help you a lot if you use this 5 great tips am about to tell you so you could earn more
Take this very truth about affiliate, when you start with real affiliate program you are not expected to pay a dime upfront as charges, but yet you can make more money than that of any physical business that greats. To be very honest the only thing any one needs to make a living online as an affiliate marketer is desire, focus and the ability to apply proven marketing strategies that are already working great for other affiliates.5 Great Affiliate Tips To Earn More Money are
Tip #1: ResearchYou must find a hot targeted market:- before you promote any affiliate products or services its important to find good products that reward well and will never tell you cock and bull stores.
So many affiliates try and promote products or services without researching the market first. It’s crazy but that’s what 95% of affiliate marketer’s do. So please, find a hungry market before trying to sell your choice of affiliate product or service, it will be so much easier in the long run and much more profitable if you could just heard to Amazon.com on the web page just type any keyword at the search be, maybe DOG FOOD look at he result, them check out the customer who bought the book, some other thing of book he bought and its reviews, such way you are one way to research.How do you find out more where the hot target markets are in the second place? Go to Google.com and type in you phrase into the Google bar like this DOG FOOD after that type it again quite “DOG FOOD” to narrow the research down it will be in the first few results you see listed. Use this free tool good keywords.comExample keywords I would search for; affiliate, affiliate marketing, affiliate marketer, affiliate tips I’d put any of these terms into the “Google Keyword Research Tool” and it would bring back a list of related keywords and the results on these search terms to date.
Find out how many people search for any specific search term in a month, locally and globally. If you use this tool for your research I advice you promote the keywords that are medium and low to get more result because of competitors, the high means there are so much competitors.
Another place to do research is Click bank, Cb engine and Cb trendsIf you are intending to sell information products, check out the “Click Bank Marketplace”, it is the largest online marketplace for digital information products. You will need to create a free account but before them you will be able to check out what niche products are hot sellers at the moment.To find out the hot sellers at the moment you search through each category in the marketplace and choose to view products in order of gravity “grav and %refd” as a general rule products with gravity of 50 and above are considered profitable at the moment. The higher the gravity the better. But you can also use other paid keyword tools like. ad word analyzer, keyword elite
Tip #2: Using free blogsIf you are new to internet and wish to make both end meet from being an affiliate then go the way of blogger and word press.com just give it a trial, this are free and convenient thy rank well on search engine.If you don’t know how to use blogger just open Google on the search bar type How to use blogger.com or how to create blogger account. That is how I started, read, research and applied, then in few days from now if you are serious to making some extra income as an affiliate them you will see some come into your pocket.
Tip #3: Bum marketing with affiliate linkMarketing with your affiliate link, this mean that you write some great article and put your affiliate ID or call it affiliate URL which was assigned to you at registration or at the time you choose the product which you are convince and want to sale.Affiliate links are not beautiful, so try your best to use a forwarding service to make your ID better or its better to register a domain name and forward the ID to your domain name from your domain registrar .
Tip #4: Create a squeeze pageCreate a squeeze page or opting page to gather leads and build a mailing list of your own in your chosen niche.This is probably the most important step that new affiliate marketers don’t do. Most find a great product to market, it has a great sales page promoting a great product and many new affiliates promote the direct link to the affiliate sales page. This is really crazy, these affiliates are leaving money on the table and missing out on thousands of future dollars.By creating a simple squeeze page related to their intended promotion, affiliates can gather leads and build their own mailing lists. By doing this affiliates are building a list of people interested in a specific niche topic, in future they will be able to market to that list over and over again with related products or services.So what should affiliate marketers put on these squeeze pages or landing pages to gather leads?Well an example would be a free report, e-book or e-course related to the niche market they are targeting. Squeeze pages can be very basic and really don’t need to be anything else but that. Sure some are really fancy but some of the simplest can be the highest converting and that’s what counts at the end of the day, high converting squeeze pages, the higher the conversions the better.Start to build a swipe file for creating your own squeeze pages in the future. A swipe file is basically a collection of all your favorite squeeze pages saved to a folder on your computer, this could be book marked pages or links you have saved to a text file. You would then refer to these when creating squeeze pages in the future for Ideas. Over time this swipe file could become a product to share with others.
Tip #5: Build Good relationshipBuild relationships with those you meet online. As an affiliate marketer you must learn to build relationships online. Relationship is part of your online business building strategy. Help as many people as possible without wanting anything back. People will realize that you are not just after their money. As in real life it’s all about giving with one hand and receiving with the other hand that means give and take.Give at list 50% of the time as part of your marketing strategy. Give 70% to and Take 30%. That will still serve your effort if you do things well.Give free reports, free content, free information, free memberships, just share free stuff even if it’s not yours but the owner want you to share it, don’t forget, many of these free things are available through good affiliate programs to help with promotions and so even though you appear to be giving away lots of free stuff, you are still aligned to make more money at the end of the tunnel.
You can Earn More than 300% of Your Investment Read and Follow all Example show on every resource you get here free or paid, all depend on you ability to follow dully.
Hope you enjoyed these great affiliate tips for you’re on-line marketing journey, may it be a fruitful vine yard to you. for more information to your affiliate marketing business be sure to visit:affiliate marketing
About usEngineer victor Patrick is a computer engineer by profession who attended and completed his secondary education, passed out with good grade. Because of his passion about well being or better life, enrolled into Wesley computers for computer where he was trained as a computer engineer. He has worked for two well know computer institute for two years and has always being the head of computer engineering department but in all could not live the life style he desire to live because all that was given out for reward has just being peanut, this made him to give up the jobs and train as web site designer which he always say is one of the best things that ever happened to him.In his career he has always say if only he can use this to break the bridge between the poor and the rich, where the poor get poorer the rich get richer, he that works more earns less while he that work less earns higher thus boss and employer. But he find out this could be achieve through the internet, websites and e-marketing faster than through any other way because the world and American richest men has always being internet base, that has made him ready to give out a lot of free article about every thing that can help one live a better life style ranging from health, wealth, article written, data entry, online forex trading, blogging, web designs, Ad-sense, traffic generation method, affiliate marketing, information making etc on his website to any one who will always be ready to visit and use this information to get to a better life style to himself first then to others helping break the above mentioned bridge.
Are you looking for a simple guide to follow that will provide you with an abundance of online wealth? This article will point you in the right direction. Lets get started.
The home business industry as you probably know is exploding, especially right now. There are literally countless online business opportunities out there for you to join. Many of them very successful while others will take your money and leave you in the dust. Its very important to know what you are getting yourself into before hand.
There are ways to pick out the good companies from the bad. Choose a company that has been in business for a while. A company that has been around for a while has redefined their business to precision. This will help you along the way. Another thing to keep on the look out for is a free trial program. Companies that offer free trials are great since it allows you to get a taste of what the business is like without having to pay any money up front. Usually these free trials last 7 days. This is enough time to get your infrastructure set up.
Once your infrastructure is up and running, its time to supercharge your efforts.
Surround yourself with like minded positive people. You become what you emerge yourself with. So surround yourself with successful people that really care. Join a team that bases their work off people helping people. What is nice about teams like this is that you can piggyback off their success. They will provide you with all the training and one on one mentoring you will need.
Most importantly though, never give up. It is the number one quickest way to fail. There is no way you can fail if you don not give up. Take your time and success will be right around the corner.
Stop paying tons of money to get involved with other companies. Join one of the fastest growing teams on the planet. Click the link below to grab your spot!
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For a 7 day free trial, how can you afford not to?
Who wouldn’t want to start and run their own work from home online business? You could work at your own schedule and your own pace, and pick and choose what you do with that business and how you run it. If you want to add different services or products, you could do that. If you want to take away some choices, you could do that as well. Many people appreciate being in charge of their own success and appreciate seeing the fruits of their own labor. But starting a running a work from home online business isn’t as simple as some think, but it’s also not so complicated that you should be hesitant about it. Working on the internet and running a website is something that many people do today and they have a lot of success with it. So let’s look at how you can start and run a work from home online business, and what your options are with this type of endeavor.
If you’re going to sell something through your work from home online business, you may need a tax I.D. number or sales license you get through your state. This is your way of collecting sales tax for sales in your own state. These are very easy to get and usually just cost a few dollars. The state website or clerk’s office where you get this paperwork also explains how you need to collect and report that tax. Many who start and run a work from home online business get this license and it’s very easy to do and keep track of. Of course if you’re not selling a product you may not need such a license.
Some find that a freelance work from home online business is good for them, if they can provide a service to clients. You may be able to become a virtual assistant, which is someone that provides clerical services to clients. This might include data entry, bookkeeping, proofreading, letter writing, scheduling, and so on. There are those who make their own work from home online business in this regard and do very well. Your website should state your rates and the services you perform. Clients need a good way to contact you so of course email is good, and you may want to get a dedicated phone line as well.
Whatever your work from home online business, be sure that you do actually work it. When you sell a product online you need to continue to market that product and promote your site. This means getting links to your site, contacting past clients and customers to entice them back, and adding new products and articles for site content. Many find that multi level marketing is a good work from home online business because it means two streams of income – the sales you generate and the sales generated by those you recruit to work under you. In any event, you can make a good income from home if you work at it!
There is no reason why you should be embarrassed about wanting to make more money. If you’re ready to read more about how can increase your cash flow and get you into great shape, then visit our page.
How to Build a Strong Relationship with Your Customers – A Guide to Customer Relationships for Freelancers & Self Employed
One of the best ways to run a good business as well as keep the clients which you currently have is to build a strong relationship with your clients. Everyone likes to feel appreciated and this is true for those who have a business relationship. The clients want to feel as if they matter to the business owner as they are part of the reason why the business is still in existence. There are a few ways for business owners to build a strong relationship with their customers as doing so will not only maintain their client base but possibly expand it as well through recommendations.
Know Your Clients by Name
One of the best ways for business owners to build a strong relationship with their clients is to know them by name and address them as such whenever they contact them. A business owner who knows their client by name will make the customer feel appreciated and give them their due recognition. This will show the client that they matter to the owner and are good customers overall. It is also a good idea for the employees of the business to familiarize themselves with the clients and acknowledge them by name as well since employees are an extension of the business owner and the business itself.
Make Conversation with Your Clients
Although it is important to discuss business matters at length with your clients it is also a wise idea to make small talk with them as well. Doing so will show them that you are interested in them as individuals and not just view them as income. Just be sure to keep the small talk light and not be too intrusive with your questions or conversations.
Offer Incentives to Your Regular Customers
Another way to build a strong relationship with your customers is to offer free incentives from time to time. For example, if you run a restaurant try to offer your regular clients a free dessert or beverage once in a while. Doing so will show them that you acknowledge their constant patronage and appreciate them choosing your establishment over others. Offering incentives can be as small or as great as you would like them to be. However, it is a good idea to not offer these incentives too often as the customers may come to expect them after a while. Just do so on an occasional basis.
Always Offer Top Notch Service
No matter how nice of a business owner you are or how many incentives you offer your clients, if you fail to offer top-notch services it can be the downfall to your business relationship. Therefore, another way to build a strong relationship is to ensure that the business offerings are always first rate.
Inquire About Customer Comments
Lastly, you should inquire with your customers from time to time with regard to how your business is doing overall. Ask your clients if there is anything you should consider changing to make your business more favorable to their needs. This is another way to really build a good relationship with your clients and keep them coming back for more time and time again.
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Every company registered at company’s house in the UK is now facing a new threat to their business in the form of ‘Company Hi-Jacking’. This is when a company’s identity is stolen by fraudsters. These criminals simply submit a forged form to Companies House, changing a company’s registered address to a new location.
Using the selected company’s name and the new address, they are then able to carry out fraudulent activities, obtaining credit to purchase goods and services. This form of fraud is estimated to cost £50 million a year to industry.
As company hi-jacking is on the increase, the Metropolitan Police Service and companies house are urgently advising companies to take simple preventative measures to minimize their company’s identity from being hi-jacked, including:
1. IMMEDIATLEY check your company’s registered details are correct and that they have not been fraudulently changed – Search for FREE now at creditgate.com.
2. IMMEDIATLEY subscribe to an online monitoring service that will alert you by email if any changes are made to your company’s details at companies house in the future – Subscribe for this FREE service now at http://www.adsence-dollar-factory.com.
3. IMMEDIATLEY start using a Credit Reference Agency to satisfy yourself that each new customer is legitimate, as well as credit worthy – http://www.adsence-dollar-factory.com provide a full range of Credit Reports and Companies House documents, which are available instantly online.
Companies House have warned that a growing number of small businesses are falling victim to the corporate version of identity theft, sometimes known as a Form 287 scam, a reference to the name of the Companies House form that is completed when requesting a change of registered office. Companies House have introduced electronic filing and e-mail alerts to notify companies about the receipt of documents, but Creditgate believe that the system is still fundamentally flawed because Companies House only keeps a record that documents have been received, rather than checking the accuracy of those documents. What is also very worrying is that Companies cannot get fraudulent information removed from their file without a legal judgment, even if there is overwhelming evidence that identity theft has taken place.
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A famous quote says “Your attitude today determines your success tomorrow”. The most valuable asset you can possess is a positive attitude towards your life. Your attitude determines how much success you can achieve in all aspects of your life. Your attitude is also one of the first things people notice about you, and impacts on all the business and personal relationships you will have. Positive attitude is not a product of heredity; but with proper training, anyone can acquire this important trait.
If your attitude is not positive, then you can use some tools to do an “attitude tune-up”.
1. You must understand the power of attitude Your attitude is the most powerful tool for positive action that can help you become successful, so you will need to understand this before you can work on the following steps towards adjusting your attitude for the better. Your attitude impacts on everything you do, the way you think and your motivational levels. In order to turn your attitude around and get into action towards your goals, you need to be able to consistently fight any negative or pessimistic thoughts that you may get. You need surround yourself with positive things and people, and you need to keep on your ultimate goal of achieving the success and wealth you want.
2. You must make a choice to be in command of your mind and attitude Taking full responsibility for what goes on in your mind by monitoring your thoughts is the first step towards being in control of your attitude. The power of choice is very influential in our lives. In order for you to be successful and wealthy, you must first choose to be successful. While you are working your way towards your goals, you will encounter some hurdles, you may experience some failure; but is very important that you control how you respond to whatever that happens, and keep your attitude positive, while working towards your goals.
So, what will be your choice? A positive or a negative attitude? It may be easy to make this choice, but what tends to be a challenge is to actually stick with this choice no-matter what setbacks you face. “Program” your attitude by training yourself to be always positive, maintains a positive inner dialogue, and keep your focus on your long term goals. Choosing to have the right attitude will help you become successful in all areas in all areas of your life.
3. Identify and stop the negative attitude that holds you back Assess your present day attitude and identify aspects of, which may be holding you back from becoming successful. What are the underlying causes of your negative attitude? What attitude do you need to propel yourself towards success and wealth? Do an attitude assessment and work an all the attitude that is keeping you away from being successful and wealthy. Rid yourself of any debilitating attitude, and focus on the positive attitude, which will help you attain your optimum potential in all areas of your life.
4. Turn your attitude into action and find your purpose and passion After you have identified what it is that is holding you back, you will be ready to take on the next step of looking ahead and analyzing where you want your life to go and what you want to achieve. In order to be successful, you must understand the importance of living your life with purpose and passion, and having a personal vision of what you want in your life. If you do not have a vision, you have nothing to work towards, and therefore you can not be consistently motivated. Once you have your success goals specified, then you can easily turn your attitude into action as you work towards these goals.
5. Develop strategies for maintaining the right attitude For you to be successful in your life and in your business, it is important to be able to maintain the right attitude at all times, regardless of any setbacks you may face. You will need to prepare yourself for handling any challenging situations that may threaten to provoke negative attitudes that will throw you off course. You must develop some self-motivation techniques to help you maintain the right attitude towards your goals; namely affirmations, visualization, positive attitude talk, enthusiasm etc. By using these tools, you will be well prepared to achieve professional and personal success. It is also important to build supportive relationships that will get you through challenging times.
By simply following the steps outlined above, you can have the right attitude, which will help you transform your life and achieve any success you want.
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It is surprising how many people are still confused about heartworms and the effects that a heartworm can have on
your dog.
First lets look at what heartworms are and how your dog can become infected.
Heartworms are transmitted by mosquitoes into the dog’s blood stream. The immature heartworms called microfilaria
travel through the blood stream.
The microfilaria settle into the heart chambers and major pulmonary blood vessels. This causes a blockage of the
blood flow and pathological changes to the surrounding tissues.
This blockage happens when the larvae grow into adult worms. An adult female heartworm can grow up to fourteen
inches and can live as long as five years.
A female heartworm can produce thousands of microfilariae, which is transmitted into a mosquito when it bites an
infected dog, and subsequently injected into the next dog that that mosquito dines on.
What Are The Signs That A Dog May Have Heartworms?
ØUsually the first system is weight loss. The dogs’ hair may become dull and brittle.
ØThe infected dog also may tier easily.
ØA persistent coughs and or labored breathing.
ØIn more progressed cases victims may vomit blood from ruptured lungs.
If the disease is not prevented or caught in time the result will be a slow painful death from congestive heart
failure.
What Do I Do If My Dog Is Infected?
Treatment is available but it can cost hundreds of dollars, and may be ineffective depending on the degree of
infestation.
The best defense against heartworms is routine checkups with your vet. Giving your dog heartworm medication once
a month easily prevents heartworms.
Warning: You Must Have Your Dog Tested For Heartworms Before Starting Heartworm Medication!
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According to new studies 5 out of 10 marriages will end in divorce. Without going into the typical boring drawn-out discussion on divorce, I’m going to get straight to the point. You are about to learn the top 2 ways to become irresistibly magnetic in the eyes of your wife.
And it will not take a lot of time.
Before you read another word, it is important that you understand one thing. And that is:
I’m going to explain because this may seem obvious.
The truth is many guys are doing all of the wrong things when it comes to becoming more sexually desirable to women.
Many guys out there are buying 4 ton trucks in their attempts to become desirable.
Many guys out there are working out in the gym for 9 hours a day in their attempts to become desirable.
“It is 100% possible to change the way a woman sees you.”
You can change the way a woman sees you for the better.
You can change the way a woman sees you for the worse.
Let’s dive in.
Top Secret Way # 1 – Become a master at getting her in a good and upbeat mood.
In fact if there was a way that you could become invisible, you would notice something.
In other words if you secretly entered the homes of 100 married men (while being invisible), you would notice that over 90 of them initiate sex with their wives while making zero effort in getting her in a positive, upbeat, happy and energetic mood.
You would also observe guys trying to get sex from her while she is tired. You would see these clueless bastards initiating sex on days when she is feeling miserable.
Then you would see the guys getting angry at her when she turns him down for sex.
You would see the guy feeling hurt, sad and rejected.
You would even see these guys eventually thinking about cheating.
You would see these men become weak & insecure creatures before your very eyes!
The truth is getting her in an upbeat mood before initiating makes a lot of sense.
All you need to do is become a master at it. And this is simple as getting her to focus on fun moments that the two of you have shared in the past.
Make her laugh.
Think back to times when you were able to cheer her up or make her laugh and do those things.
Take her out to a comedy club or at a minimum select something funny to watch on TV.
Do you see how it works?
And once you master doing that while combining it with the next tip, magical things will begin to happen.
Top secret way # 2 – L.O.C. (Levels of Communication)
I’ll explain.
Please make sure you listen up, because it’s very important and you will not find this discussed anywhere else.
Once you master LOC, you would see changes in a very short amount of time.
For example: Try to imagine your wife as being 50 different women. You can even pretend all 50 of your wives are walking around in your house.
I’ll explain so that it makes crystal clear sense.
If your wife’s name is Mary, then there are 50 Mary’s walking around.
Mary-1, Mary-2, Mary-3, etc..
Each Mary represents a *different mood*.
Do you see where I am going with this?
For example, Mary-1 could be your wife when she is tired and exhausted.
And Mary-17 could be your wife when she is happy about life, energetic and upbeat about everything.
Wouldn’t you rather have sex with Mary-17?
Isn’t she more likely to want to have sex?
The amazing thing is that your “words” can magically change Mary-1 into Mary-17.
It literally takes milliseconds to move her from a bad mood to a good mood (or vice versa).
Let’s move onto LOC.
The truth is women sometimes say things that don’t make sense to a guy.
A guy will argue with his wife and during the argument he’ll ask himself: “Does she even care about solving the problem?”
If this has ever happened to you, you obviously discovered that there is a difference in communication structure between men and women.
And before I continue, I want you to realize that there is so much twisted up information out there it is sad. If someone told me to make one prediction – it would be that these “how to read body language books” are going to become fazed out in the next 100 years.
And after that, people will start to focus on “communication” as the starting point for understanding women. Any time a guy is seeking to become more sexually desirable in the eyes of women, the results will ALWAYS begin with “communication”.
If you are a man who wants your wife to see you as irresistibly magnetic, then your efforts must begin with communication.
Because if you understand the language differences in a woman, then you will realize that those words have significance because it comes from her brain.
And her brain stores the information that decides whether she will perceive you as sexually desirable.
The secret key to becoming sexually desirable in the eyes of women depends on your ability to affect her mood. And that ability depends on your communication and how well you understand the levels of communication.
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This article is about money management and trading psychology. This is the lesson that you never get with 99% of other Forex systems that you have come across.
I find it interesting that most of the systems out there don’t include this because if they actually were successful traders, they would know that this was the key to success and to leave it out makes an incomplete system that won’t work!! This tells me that the people that wrote them or are selling them aren’t traders at all. They are just in the business of selling HOPE!
Well, if you haven’t noticed yet, I am a trader, and I am different than the others. Don’t get me wrong, there are honest trainers out there, I learned from one and I am eternally grateful to him.
So let’s get on with this. First of all, this is my own interpretation of several sources, and the practices that have worked for me. Please read EVERYTHING you can find on trading psychology, and money management. There are a lot of slightly different views but overall, they are very similar and the main important points are all pretty much the same.
There are two main issues that cause 99% of the problems. Can you guess what they are? If you answered FEAR and GREED, you are correct. These two emotions are probably responsible for 99% of the worlds problems as well but that is beyond the scope of this course À .
So, now that we know what the big obstacles are, let’s try and figure out how to overcome them. In the course of my lessons, I have listed a few but I will put them all together here in one place so that it is easier to follow, and perhaps make it easier for you to develop your own system to help you trade better.
We can’t eliminate fear and greed. They will still be there in your heart and mind, but we can make some rules so that they don’t interfere with your trading success. We can come up with systems and procedures to follow, since we KNOW ahead of time that fear and greed are major problems. I’m sure you have heard the statistic that 95% of all speculative leveraged traders FAIL. This is absolutely true. Here is another statistic that I believe…100% of traders that don’t know how to overcome fear and greed will FAIL. So does that mean that if I can teach you how to overcome these problems that your chance of success is 100%? Of course not. But I can tell you that you cannot be successful if you don’t protect yourself from yourself.
In lessons 1-3 I have outlined a trading system. The first thing you must do, whether you follow my system, another system, or your own system is to follow the rules of the system WITHOUT FAIL. If your system calls for a certain entry point, do not enter until there is a signal to enter.
Systems are designed for a reason. That is why it is called a system. What do we learn from this? Patience. Perhaps the stupidest thing you can do is enter a trade on a hunch. This brings us to our first FACT:
The odds are in your favor before you enter a trade. This is true for most trading systems. Void of fear and greed, if you follow each system exactly, you will profit. Some systems may offer better profits than others, but overall you should be able to profit with any system, IF you have no fear and no greed.
This brings us to THE BIG SECRET. Other than omitting trading psychology, other systems also don’t tell you that you are playing a game of odds. Let’s say for example that we are playing “coin toss.” Theoretically, for 100 flips of the coin, 50 will come up heads, and 50 will come up tails. Of course, the first 100 may be 55/45, but the more you play, the closer to 50/50 the numbers will get. Our system for “coin toss” is as follows: We play for 20 hours, and flip the coin exactly 5 times each hour, and for every heads that comes up, we get paid $2, and for every tails that comes up we pay $1. This should be a profitable system. After our game we see that heads came up 50 times and tails came up 50 times. (Stay with me here). So at the end of 100 tosses, we have paid $50 and received $100. A profit of $50.
So let’s say that during our second game of coin toss, we decide that we are going to let the flipper(hint: the market is the flipper) keep flipping the coin for an hour while we take lunch but we are not going to pay or be paid for those flips. During our lunch hour, heads comes up 5 times in a row (which is theoretically possible, and not that unlikely). And now we are back from lunch, and we are down $10 for the hour. Now, theoretically the odds of 5 tails in a row coming up after 5 heads in a row are pretty good because for every ten tosses, you should have about 5 heads and five tails. So now we get 5 tails in a row and now we are down another $5, for a total of $15. So not counting the 5 tosses during lunch, this leaves 90 tosses that we still have to account for and let’s say that they were 45 heads and 45 tails. Our profit for these tosses is $45 (45×2 minus 45×1), now if we take away the $15 for the tosses we didn’t take, and that string of losers, we are left with a profit if $30. So lunch and 5 lousy spins cost us 40% of our profits.
Now this is theory but it absolutely applies to this market. If you are picky about what trades you want to take and what trades you don’t want to take, you are MESSING
WITH THE ODDS. My point for this whole big story about “coin toss” is this: If the conditions are met, TAKE THE TRADE without hesitation. The odds are in your favor, but only if you take ALL of the trades that meets the conditions. When I say ALL trades I know the market is open 24 hours a day and you can’t possibly take every trade. You need to pick a time frame and stick to that same time frame everyday and take ALL trades during that time frame.
I can tell you that in the month before I realized this (my first month of trading real money actually), my total profit was 92 pips. I had an idea of what I was doing wrong so I was keeping track of the trades that I didn’t take along with the ones that I did. I included entry point, day, time, and whether the profit target was hit or if it was stopped out. Don’t get me wrong, I was extremely happy to be in profit after trading for only one month with real money. But then I went back and looked at the numbers for “what could have been.” Guess what? Had I taken every trade that met my conditions, my profit for the month would have been 355 pips! I was not happy. But soon I realized that I had messed with the odds. After realizing what I had done wrong (or not done right in this case) I began to have more confidence in my systems. The very next month my total profit was 515 pips, or a 560% improvement just for taking all of the trades that met the conditions. I think that is enough said about that.
Sorry to stay with the coin flip game here but it actually works very well in teaching these principles. This brings us to FACT #2. You do not need to know what is going to happen to make money. If we know that we are going to make $2 fifty times and pay $1 fifty times as long as we flip the coin, are we going to play? Of course! Well, all trading systems have similar odds. From my testing, I know that this system on average will produce 9 wins of 20 pips for every 1 loss of 40 pips (that number may vary but that is the maximum loss I ever take). So we know ahead of time that 9 wins at 20 pips is 180 pips, and minus the loss of 40 pips, leaves us with 140 pips profit. Now keep in mind that you may be 8 and 2 this week and 10 and 0 next week. We never know when a loss is going to come. We may even lose every trade for a week, but not lose a trade for the next 9 weeks. Believe me it happens. You do not need to know exactly what is going to happen, you just need to take every trade that meets the conditions and then count your profits at the end of the month/week/year etc.
This section deals with money management as well as psychology. Back to coin toss for a minute. We know that each win brings us $2. And we know that for each win in this trading system we get 20 pips. We know that each tail that comes up costs us $1. And in our system we know that each loss is 40 pips. If we know what our loss is going to be ahead of time, we know what it is going to cost us to find out “what is going to happen.” From this we can decide how much we want to risk based on our account size.
FACT 3: You know how much it will cost to find out. I have decided not to ever risk more than 5% of my account on any one trade. So knowing that, I can figure out how many lots to trade ahead of time based on my account size. It may cost $250 in margin for a 1 lot position but this is not what we are risking, we are actually risking ten dollars times the number of pips in our stop. If our stop is 40 pips, we are risking $400. Now we know that we better have at least $8000 in our account to take a position of this size. If this trade turns out to be a loser, and our balance falls to $7600, we know that we can’t afford to take that trade again because a loss of $400 is more than 5% of our balance. We would need to adjust our number of lots down accordingly to keep our risk <5%. We also don’t want to increase our lot size to try and make up for that loss. Always reduce your risk if your account balance falls. The next thing we don’t want to do is immediately increase our lot size after a winning trade. It is better to trade at the same lot size for 15 or 30 days at a time before increasing lot size. This allows the account to build steadily without large swings in either direction.
FACT 4: There is a random distribution between wins and losses for any given set of variables that define an edge. Your trading system is your edge, but you never know in what order your wins and losses will come. Be prepared for this and accept the losses, knowing that the odds are still in your favor.
This brings us to our final two facts.
FACT 5: Every moment in the market is unique. Yes we use pattern recognition to define our edge but there are so many variables in this market that it is impossible to ever have the conditions exactly the same as any other moment. You could play 100 games of coin toss and no game will have the exact same order of wins and losses, even though they may have similar outcomes.
FACT 6: Because of fact #5 we know that ANYTHING CAN HAPPEN. This is why it is important to follow the trade rules exactly and play the odds. Every broker/trading system has a disclaimer that says basically “do not trade with money you can’t afford to lose.” The best thing you can do when you open your real money account is to mentally consider that money GONE. If you are not afraid to lose it, you will save a lot of stress and your trading will improve. Only you can determine what you can afford to lose, so just don’t put more in there than you are willing to lose. Compounding is an amazing thing that we will talk about in section 5, and the money will come if you follow the rules. If you start with less, it will just take a little longer but once again you will save a ton of stress.
TRADING WITHOUT FEAR AND GREED
1. I Objectively identify your edges. You have a system here that works, enough said. 2. I Pre-define the risk of every trade. We covered that in FACT #3. 3. I Completely accept the risk. Consider the money GONE.
4. I ACT on my edges without reservation or hesitation. Follow the rules and take every trade that meets the conditions. 5. I pay myself as the market makes money available. Take your 20 pips and be happy, or trail your stop. Even if you are compounding your account, pay yourself something out of your profits each month. It will make you feel better. (On a side note: I take 20 pips for every trade until I am up 200 pips for the month. I do not even think of trailing my stops until I am up 200. Once I am comfortably in profit, I start to look for solid opportunities to trail my stop and grab some extra pips.
Even if they only go 20 and then come back, I still make 5 pips. 20 of those still adds up to another 100 pips.) 6. I continually monitor my susceptibility for making errors. I read Mark Douglas’ book monthly, and make up sheets with my rules on them that I read daily. This helps me to see plain as day when I make a mistake. 7. I understand the absolute necessity of these principles, and therefore I never violate them. I have included a sheet that you can print out to keep near your computer to read every day. Read these facts and rules every day even if you memorized them. Finally,
FOUR STUPID THINGS The first stupid thing you can do is to close a position early because you think it is going to go against you. Just because you have an edge over the market does not mean that price will immediately shoot up or down to your target. Price will move up and down and will even probably move against you before it moves in your favor. If you let FEAR of LOSS get you, you will lose money. If the market is going to take you out, let the market take you out by taking out your stop. That is why it is there. The odds are still in your favor.
The second stupid thing you can do is to close a position early because you don’t think (or you are AFRAID) that it won’t reach your target. If you don’t play the odds properly, you will not realize the full profit potential. What if in our coin toss game we decided that we were going to take our profit for a “heads” at $1 instead of the $2 that we were supposed to get paid? If you remember, our profit was $50 for the first game. If we had only taken $1 for each win, we broke even. That is a lot of effort for nothing. Even worse, if we make some mistakes along the way (we all know that we are perfect traders right?) as we did in game number 2 where our profit was $30, we can lose money by not taking enough profit. Remember that we had a $15 loss for our mistake and 90 spins remaining. If we had taken only $1 for each of our 45 winning spins we would have broke even, minus the $15 puts us down $15 overall instead of being up $30. The system is designed for a 20 pip target, GO FOR IT.
The third stupid thing you can do is to get greedy. As I said in my sales material, if you had shot for 30 pips instead of 20 for the trades I listed, the profit would have been about half of what it was for taking just 20. Interesting how this whole thing works, huh?
Just taking 5 or 10 pips can be considered GREED as well as FEAR since you are so afraid of loss that you get greedy for those 5 or 10 pips compared to the potential loss of 20-40 pips. Don’t let it get you, follow the rules and be happy with your 20 pips.
The fourth stupid thing you can do is move your stop, believing that the market will eventually go in your favor. This is the fastest way to lose money. We are DAY traders. Yes the market may go in your favor but it may move 300 pips the other direction before it does, if it does. This could take weeks or months and you have a limited account balance. If 5% of your account is tied up waiting this position out, guess what. You are missing 20 other opportunities to make money instead of just sitting there waiting, down a hundred pips while you miss the opportunity to make 20 trades for 20 pips each. Maybe you break even, when you could be up 400 pips. JUST DON’T DO IT.
THE BEST THING YOU CAN DO
Once you place your trade, and place your stop and limit, TURN YOUR COMPUTER OFF and go do something else. You are now in automatic mode, and the market will take you out, either for a profit or for a loss. This is the best way to eliminate the temptation to succumb to FEAR or GREED and do something stupid.
The rest is up to you. Only you can decide whether or not to follow the rules and believe in the facts. This lesson is the most important to your success and I hope you won’t take it lightly. If you are trading and following the rules of your system, and not making money, you need to take a look in the mirror. It is not the system that is the problem, it is you. I am not trying to be harsh, but when I was not making money, it was not the system it was me so you are not alone. Don’t give up, because you can be successful if you just work through and figure out the problem.
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