Entrepreneur Daily

Welcome !

2009-07-17T02:49:00.000+05:30

Entrepreneur Daily ! is the one stop blog for all those aspiring to earn money online, to work online or just to earn money for free ! I do not promise you that you will become millionares overnight, but with some time we could get a few hundred dollars closer to getting there !

Learn trading on the forex, learn how to earn money without investing a cent in at all. All you need is a computer, and a working internet connection and you are all ready to get started !

Please Use the categories on the right hand site to navigate to the page that interests you.

Quick Jump

Making Money From Scratch

TOP WAYS TO MAKE MONEY ON THE INTERNET

Thank you for Visiting! Please Bookmark us for future reference

Five Star Payments

2009-04-22T17:29:00.002+05:30

Need a payment processing service for your internet business ? If so, then i suggest Five Star Payments as a very strong contender. They are professionals who will help you out in improving your profits by reducing the costs of credit card transactions. They also promise to help in finding a credit processor for your business even if you have not been able to get one, and that too at cheap affordable prices.

Give it a shot, the worse thing that can happen is that you save a few bucks because of your lowered interchange costs.

This is their website:
Five Star Payments

Gold Coin Dealers Ahoy !

2008-06-16T02:57:00.000+05:30

This is a special treat for all those Gold Coins collectors and dealers over there. If you are interested in Gold Bullion collection or rather acquisition you should check these guys out. Not only do they deal in Gold Bullion but they also have a rather surprising treat of collector edition gold coins.

Some of the gold coins they have to offer include a $2.5 Liberty Quarter Eagle and a Gold American Eagle introduced in 1986. They also include gold coins issued by other countries as well. They also deal with certified gold coins. And if you think they only sell gold, they buy gold too. So if you are interested in gold and gold coins hop over to their site right away.

Gold Coins Gain

Five Star Payments ?

2008-05-22T09:47:00.003+05:30

If you happen to need a system that will help you attract customers who use Visa/MasterCard/Amex/Discover for thir payments then look no further. Five Star Payments will do the job for you. Offering a high level of service, professional staff and lots more, they tend to be one of the best options available.

The are known for their high level of customer service, expertise and knowledge, professional staff, cheap prices and they specialize in ecomonizing businesses. All you need to do is to fill out a simple application form, and then you can talk to one of their service representatives. They deal with low risk and high risk businesses among many other types.

Check them out today !

Changing Blog

2008-05-19T11:08:00.001+05:30

Im upset with my blog, over the last couple of days i havent been doing anything on it.. though some sites are really paying off...

Ive decided that i need a new look :) So im going to start working on that.

Unsecured Business Loans

2008-03-30T09:36:00.001+05:30

Need a business loan but don't know where to look ? Welcome to Unsecured Business Loans ! This company is dedicated to helping businesses take out a loan and they have a very user friendly 7 step process that helps you secure a line of credit quickly and easily !

On their welcome page, they have a quick form that you can use to quickly sign up ! Once you do that they have a quick easy process that will help you get an Unsecured Business Loan quickly and easily

They specialize in Small business Loans, but also offer SBA loans, Business Loans, Business Lines of Credit Online, and Business Cash Advance. Go through their website to see which one suits your needs

Check out Unsecured Business Loans

Boost your profits and increase your Sales

2008-03-30T09:24:00.000+05:30

Looking for a way to run your business effectively ? Need a payment processor for credit cards ? Or maybe looking for a company that can process credit cards better ? Five Star Payments can help!

Five Star Payments are a company which place emphasis on customer service, have reliable knowledgeable staff and offer the lowest prices available. They offer customized business solutions geared to businesses of all sizes and can lower your operating costs which basically mean you earn more.

Finally, if you have been rejected before, or if you consider your business too high risk, you don't have to worry. With Five Star Payments, your business will be accepted no matter what !

Top Ways to make it big on the internet !

2007-10-11T18:59:00.000+05:30

The following sites pay big and pay on time. If you work hard enough on them and with them you can easily make abit of moolah in no time. All these sites have paid me atleast once and are almost sure to pay you as I have only taken the best and most reliable from the business. Do try them out, and send me your feedback !! Please, if you do feel some sites are better then tell me about it via e-mail !\

1. Marketiva

Heard about the Forex ? IF yes, then Marketiva is the broker for you, If no, then All you need to know that its the largest financial market in the world trading trillions of dollars per day and hence its a perfect way to start making money online. Whats better, Marketiva offers all new traders a $5 bonus start-up fee !! What better way to start earning money online ??

Pro's

Marketiva is a reliable platform, and a reliable broker
$5 free startup (real cash mind you)
Platform (Streamster) is easy to understand and relatively small to download

Con's

Withdrawal can only be done after paying a one time fee of $8 (not that big a deal if you know how to double your cash every day)
High speed internet connection required
Forex is not for everybody, you need to have a knowledge about the market and learn how to trade (its easy though, trust me)
May demand documents to prove your identity and address (a scan of your name and address related documents will suffice)

Payment processors
Pay via bank transfer, e-dinar, Liberty reserve, gold bullion among a few
(Paypal,e-gold not accepted for now. Liberty Reserve Is a good option though)

Verdict
Marketiva is a must try for everyone, irrespective of whether you know anything about the forex or no, a free $5 is good enough and if you get lucky you never know, you may just hit a jackpot ! I suggest you sign up now !

2. Adbux.org

Adbux.org has set a standard in point to click (ptc) With offers of 1 cent per 30 second page views they have become the leaders in advertising on the internet. However now they offer pages of .5 cents and .15 cents but the viewing time for each page is 10 seconds and 3 seconds maintaining their motto of 1 cent for 30 seconds !

Pro's

Reliable, high paying
Lots of ads popping up all the time, so you can earn upto 15 cents a day from this site alone

Con's

Withdrawal minimum is $10
Do not pay via e-gold

Payment processors
Paypal Only

Verdict
I have been personally paid by adbux twice, so i can vouch for this great site ! Its the perfect ptc out there, and if you have a high speed net connection, nothing gets better than this. Just remember to keep checking back every few hours for new ads that keep popping up all the time !

3. Mylot

Love forums ? Love meeting new people ? Love talking about lots of stuff, here comes mylot ! A purely community driven forum with wide ranging topics dealing with virtually anything under the sun ! And then mylot pays you for activity !! So the earning opportunities are limitless !! Plus with the added consensus of having fun doing what you do best --- Socializing !! Earning a dollar here is easy, just stay active, post interesting (or controversial discussions :D ) discussions and keep posting !

Pro's

Earning opportunities are limitless, with estimates of upto 5 cents per post ! (depending on quality !)
Very vibrant active community

Con's

Just see that all your replies and posts are within mylot guidlines and that you follow their rules strictly ! Their moderators have a habit of being very strict and vigilant and if you break a rule you are out of that place

Payment processors
Paypal and Moneybookers ($ 10 minimum, very easily achieved)

Verdict
If you love to socialize, Mylot is the forum for you. Oh, 1 important thing, earnings are updated once a day, so dont be sad and depressed if you see your earnings stuck on the same amount for long :D

4. Zotspot

Search engines are important, and if you use them I suggest you use zotspot a bit, they do turn up very interesting queries to your search at times, and then pay you per search as an added advantage. So if you are looking for stuff you cant find on google, look here !!

Pro's

Considering you make 10 searches a day here, I'd say you'd easily make a couple of dollars here on zotspot
Charity !! You can donate some of your earnings to charity !

Con's

2 months waiting period until you find out how much you've earned ! Yes very irritating, but cool, because you get hit with wonder figures as zotspot pays very very well indeed !!

Payment Processors
Paypal

Verdict
Even though not as great as google, zotspot can earn you some good bucks while pulling out really wierd and unconventional search results. A must try !!

5. Associated Content

Love writing ? Or Just want to get to a larger audience ? Put up your stuff on associated content and watch your money flow in !! Yes, really and if you are really good they could pay you close to $4 per article you write not to mention performance payments based on how many people view your article (thats $1.5 per 1000 people who read your article)

Pro's

Excellent site, excellent coverage, you can be sure your article will get maximum viewership over here
They pay extremely well !

Con's

You do not get upfront payments unless you are an american citizen.If you are from other parts of the world do no get disheartened, you are still payed by views, $1.5 per 1000 views !

Payments Processors
Paypal (Minimum $1.5)

Verdict
Love writing and want to get paid ?? Join here, you can essentially expect an income of hundreds of dollars !!!

Marketiva - The Best Forex Trading PLatform

2007-09-10T05:01:00.000+05:30

Marketiva would be the best forex trading tool ! At only a 1 mb download and with a free $ 5 start up fee, marketiva would be the best tool for any new and aspiring forex trader !

Yes, the start-up amount provided to every person signing up is $5 ! But however, they do charge $8 for your first withdrawal ! But its just a ONE TIME FEE, and then, once you get a hang of trading converting $5 into more than 8 is not a problem at all !

Try it now ! And for more about the forex, keep reading my blog :D

Back to THE FOREX

Why trade the Forex ?

2007-07-21T04:46:00.001+05:30

Forex, or Foreign Exchange, or FX is a financial market where trading is done. The basic article being traded here is money. Yes, MONEY !

For starters the Forex has a daily trading of $ 3 trillion !! The NYSE doesnt even trade a quarter of a trillion per day . Thats how huge it is. It is a huge and most popular market for speculation owing to its huge size, liquidity and the fact that currencies follow trends !

Then, the forex is open 24 hours a day, right from 5 pm EST Sunday to 5 pm EST Friday, so you can trade anytime, from anywhere and whenever you feel like !

Forget about trying to improve your blog page rankings ! Forget about convincing people to buy your products, forget about employing people to do your work ! Just sit at your computer and work alone.

Finally, making money on the Forex is easy .. provided you know what to do, how to do it and fulfill some basic traits required to be a Forex trader !

Back to THE FOREX

Basic Introduction to the Forex - Part 1

2007-07-21T04:29:00.000+05:30

What do you need to trade on the Forex ?

A high speed Internet Connection
A Forex Platform (provided by your broker)
A little start up Money (optional)
Knowledge about the Forex
Your time

About the Forex

Forex, or Foreign Exchange, or FX is a financial market where trading is done. Money is traded here. The Forex involves simultaneous buying of one currency and selling of another currency
The Forex is a huge market and has a daily trading of $ 3 trillion which is huge even when compared to The NYSE which doesnt even trade a quarter of a trillion per day . The forex is open 24 hours a day, right from 5 pm EST Sunday to 5 pm EST Friday

Currencies Traded
The major currencies traded on the Forex involve the USD (United States Dollar),EUR (Euro),JPY (Japan Yen),GBP (Great Britain Pound),CHF (Switzerland Franc),CAD (Canada Dollar),AUD (Australia Dollar) and NZD (New Zealand Dollar)

As it is evident, the currency is represented by 3 letters, first 2 represents the country and the last the currency name.

Currencies are always traded in pairs, for example USD/EUR. The exchange rate for this pair represents how many Euro's can be purchased by 1 U.S Dollar or simply how many Euro's you need to buy 1 U.S Dollar

Example
USD/EUR = 1.09
You buy 100 USD anticipating the rate of the pair to rise
Balance USD = 100 Euro = -109
Later when USD/EUR = 1.12
You sell 100 USD Balance USD = -100 Euro = 112
Profit = 112 - 109 = 3 Euros
Imagine if you were trading more USD ?? Imagine if the price had been 1.30 instead ??

Continue to Basic Introduction to the Forex - Part 2 (Fundamentals continued)

Go Back to The Forex

Basic Introduction to the Forex - Part 2

2007-07-21T04:27:00.000+05:30

Forex Currencies are always quoted in Pairs (as mentioned earlier)

In the USD/EUR pair, the first currency (USD) is called the base pair. The second currency (EUR) is called the counter/quote currency.

The exchange rate tells you how much of the counter/quote currency you can get in exchange for 1 unit of the base currency

So USD/EUR = 1.75 implies you buy 1.75 euros for every U.S Dollar sold.

Basically, when we refer to buying or selling we refer to the base currency. Whereas in reality two actions occur (that is when you buy the base currency you sell the counter currency and vice versa)

So to make matters simple, you buy when you expect the exchange rate to rise, and you sell when you expect the rate to depreciate.

Buying/Selling

Buying (or going LONG) simply means buying the base currency anticipating the price to rise reasonably

Selling (or going SHORT) simply means selling the base currency in the hope thata the price will fall reasonably

So,LONG = BUY and SHORT = SELL

Spread

The Spread is the difference between the bid and the ask price

The bid is the price in which the dealer is willing to buy the base currency in exchange for the quote currency. This means the bid is the price at which you will sell.

The ask is the price at which the dealer will sell the base currency in exchange for the quote currency. This means the ask is the price at which you will buy.

This is the way through which forex brokers earn their comission and spread is one of the factors that can decide a good broker (more on that later)

For Eg: USD/EUR 1.7502 1.7506

The first price is the bid price, the second price the ask price. You will buy USD/EUR for 1.7506 and sell it for 1.7502.

Spread in this case is 4 pips.

Pips

Suppose USD/EUR = 1.7502

After ten minutes USD/EUR = 1.7504

The increment is 0.0002 or simply 2 pips

A pip is the smallest value a number can move, in this case (and for most cases as well) one pip is equal to 0.0001

A notable exception is the USD/JPY, where the value of the pip is 0.01

Calculating Profit and Loss

This is one thing you really do not have to worry about, most forex software will calculate it for you, but then it is always better to know how to do it !

Assuming USD/EUR 1.7502 1.7506

You sell 100,000 USD, hence the exchange rate that would apply would be 1.7506 (ask price)

Later USD/EUR 1.7526 1.7530

You reverse and sell the Euro, but now the rate that applies would be 1.7526 (bid price)

Now the profit you make = 1.7526 - 1.7506 = 20 pips

Calculating the value, we have the value of 1 pip as 0.0001 / 1.7526 = 0.0000570

And assuming you traded 100,000 units, value per pip = $ 5.70

Which into your 20 pip profit = $ 114.1

However, in the forex you can borrow and sell more by using MARGIN TRADING. However we will discuss that later

Continue to Basic Introduction to the Forex - Part 3 (Leverage)

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Basic Introduction to the Forex - Part 3

2007-07-21T04:25:00.000+05:30

Leverage

Now the question arises, how do i trade large sums of money on the forex, and this is the answer
Some brokers offer you leverage, that is they offer you a larger sum of money to trade with, which is a multiple of what you keep in deposit, or in good faith. For example, you give a broker $100, and he allows you to trade $10,000 on the forex. That is called leverage. And that is how you gain such huge profits !

The money kept in security is called margin, and this varies from broker to broker. In the about case, the margin is 1%, that is the broker requires you to keep $1 security for every $100 you want to trade.

However, if your account money falls below the margin requirements, the broker may close some or all of your open positions and this is the much dreaded MARGIN CALL

This prevents your account from going into negative balance.

Usable Margin is the Margin that is available to open new positions, whereas the Margin used already in existing positions is called Used Margin.

Example, your account has a Margin of $ 1,000. You open a position which requires a margin of $ 500. The Usable Margin prior to opening the position is $ 1,000. But as soon as you open the position, the Usable Margin is $ 500. And the Used Margin is $ 500

Conventionally, Leverage is express in a ratio like 100:1, 200:1

The relationship between Leverage and Margin is

Leverage = 100 / Margin Percent

Continue to Basic Introduction to the Forex - Part 4 (Types of Orders)

Go Back to The Forex

Basic Introduction to the Forex - Part 4

2007-07-21T04:22:00.000+05:30

When you buy or sell an instrument, you are placing an order. Different brokers have different orders, but here are the basic orders

Market order
A market order is an order to buy or sell at the current market price. You use this type of order when you want to buy the instrument at its current price

Eg : Currently, USD/EUR - 1.7522 1.7526. IF you want to buy at the current price of 1.7526, you place a Market Order

Limit order

A limit order is an order placed to buy or sell at a certain price.

Now suppose you do not want to buy the USD/EUR at a price of 1.7526, instead prefering to wait for it to touch 1.7536 before buying it (not really a good idea,but just for example sake). You can set an limit order, and your platform will automatically buy when the price touches 1.7536

Stop-loss order

A stop-loss order is a limit order linked to an open trade for the purpose of preventing additional losses if price goes against you.

It just helps minimize your loss if by any chance the market goes against you. Supposing you buy USD/EUR at 1.7526 expecting the price to rocket, but on the contrary the price drops to 1.7501. If you have a Stop-loss order in place at 1.7517, you will lose only 9 pips wheras if you did not you would lose 25 pips.

Other Types Of Orders

Other popular, but a bit more complicated orders.

GTC (Good till cancelled Order)

A GTC order remains active in the market until you decide to cancel it. The order remains in effect and your broker will not cancel it

GFD (Good for the day order)

A GFD order remains active in the market until the end of the trading day. The end of the market day is usually considered as 5pm EST but may vary from broker to broker
OCO (Order cancels other)An OCO order is a mixture of two limit and/or stop-loss orders. Two orders with price and duration variables are placed above and below the current price. When one of the orders is executed the other order is canceled.

Example: The price of USD/EUR is 1.7526. You want to either buy if the price touches 1.7536 expecting it to rise further or if it falls, initiate a selling position at 1.7505.
Simply, if one order is accepted, the other is cancelled.

Continue to Basic Introduction to the Forex - Part 5 (Selecting A Broker)

Go Back to The Forex

Basic Introduction to the Forex - Part 5 (Selecting A Broker)

2007-07-21T04:19:00.004+05:30

To trade on the forex you need an account, and to set up an account you need a forex broker. There are many forex brokers available on the internet, and to select among them we have to consider certain criterea

And before we look at that, in case you don't know what a broker is, he is an individual or a company that executes your buying/selling orders on the forex. Certain brokers may or maynot take a commission for their services.

Firstly, you need a registered Forex Broker. The Forex is not a well regulated market considering its size and there are different agencies regulating (or trying to) regulate the Forex. One agency to check with is the Commodity Futures Trading Commission (CFTC). They handle registration in the USA. To check please visit www.nfa.futures.org/basicnet/

Secondly, the broker software provided should be good. Check them and see if they offer real time quotes, if they allow real time market entry, if graphs and other analysing tools are provided, if there is an account summary (including profit-loss, margin, open positions, closed positions),charts and preferable a customer care center built in.

Broker programs fall into two categories, downloadable programs, and on the net accessable ones. Whichever you prefer, you must have a high speed internet connection to trade. It is a must if you have to ascertain the markets moves in real time.

Other points to note
- Brokers should offer atleast the USD,GBP,EUR,CHF,JPY,CAD,AUD (the major currencies)
- Spread usually matters, the smaller the break, the more ideal the broker. This can be done by comparing the bid/ask rates offered by various brokers
- Leverage, the more the leverage, the more money you can trade and the profits can be much more higher (or losses more damaging).Or rather the smaller the margin percent, better the dealer
- Trading should be possible 24 hours a day from 5pm EST Sunday to 5pm EST Friday
- Free Charting and Technical Analysis would be another thing to watch out for

For newcomers, I would recommend Marketiva for a host of reasons. The most important one being the fact that they offer a $5 Free bonus.

Continue to Basic Introduction to the Forex - Closing Notes

Go Back to The Forex

Closing Notes (For Beginners)

2007-07-21T04:19:00.003+05:30

Please note, that after you have read this, you are just qualified enough to understand the forex and not trade on it. The following points are to be noted

- Study more about the Forex and learn how to predict its movements
- Practise on a Demo account, or on an account with a minimum token fund so as to minimize your losses and only start trading with large sums when you learn how to make a steady profit

Losing on the forex is common-place, and every forex dealer has lost money at some time or the other. Please do not get worried when you lose money on the forex. No one can predict the market at all times.

Secondly, it is highly recommended you used a stop-loss at all times to minimize you loss or you can lose everything you have in just one single night.

In the beginning please keep trading the major currencies (USD, GBP, JPY, CHF, EUR, AUD, CAD) as they are easier to predict and brokers have lower spreads. For other minor currencies and exotic pairs the spreads are normally higher and are very difficult to predict.

Also, try to avoid cross currencies (pairs like GBP/JPY which do not involve a USD) as such currencies are unpredictable. In reality they involve two USD trades. They also are more expensive to trade.

Go Back to The Forex

Steps to Becoming a Profitable Trader

2007-07-21T04:17:00.000+05:30

1. Understand what is means to be a trader. Most importantly, there
are no rules to being a trader. There is no one to praise you for doing
well, no one to keep you on track and make sure you are doing what
you are supposed to be doing. Your ultimate success or failure is in
your hands alone. This is almost exclusive to trading. A person who
owns their own business needs customers and must keep them happy
in order to succeed. This is not the case with trading. If you fail, you
have no one to blame but yourself. However, if you do succeed, nearly
unlimited wealth is at your disposal. This single item should give
anyone considering trading for a living serious pause.

1a. Know Thy Self. I consider this to probably THE most important
item in the list.You must match your trading methodolgy and style to something that fits your personality. If your nearly have a heart attack watching the price
bars tick up and down, consider a longer term style that does not
require you to be in front of the screen each and every moment your
trade is open. Start with the daily or even weekly charts. If you can’t
stand the though of your hard earned capital thrashing around in the
open market, a shorter term style may be more your cup of tea. Are
you an anxious person? Do you become stressed easily? Do you have
patience and iron-clad discipline? These are the question that you need
to be asking yourself before you even look at your first chart or pick
up you first book on technical or fundemental analysis. Be honest with
yourself, because you cannot hide your true self from the markets,
and if you are fighting yourself, you will never be able to focus enough
energy on battling the markets.

2. Get your mind right. Pick up a few books on the psychological
challenges of trading for living. I highly recommend Mark Douglas’
books, “Trading in The Zone” and “The Discliplined Trader”. Dr.
Alexander Elders’ books, “Trading for a Living” and “Come into my
Trading Room” I also found helpful. Traders face very unique
psychological challenges and understanding these before you get too
deep into technical or fundamental analysis is of the utmost
importance.

3. Learn the basics of technical analysis. This is my own opinion and
other may not agree. However, it is my opinion that even if you intend
to make all your trading decisions based on fundamental data, a basic
understanding of the technicals can only help you. If you intent to
base your decisions on technical analysis, spend more time reading
and learning about the vast universe of technical indicators and
terminology. Look at example charts, learn about how the indicators
are calculated. What is this indicator telling me and why is it more
useful that price alone? How do other use this indicator?

4. Paper or demo trade. If you plan on trading forex, nearly every
broker will give you a trial with a demo account on which you can
trade real prices with virtual money. I recommend OANDA, but try as
many as you can and find what works for you. This is a huge
advantage and you must use it to your full advantage. Watch how the
price moves in real time. watch the indicators that you have learned
about. Apply some of the skills that you have learned so far. Practice,
practice, practice. You have absolutely no risk here, play around to
your hearts content and get comfortable in front of a trading terminal.
There are many free trading systems available on the internet. Try
some out in real time. My own personal opinion is that you not spend
too much time on a demo account. get comfortable with the charts
and entering and exiting trades. Trade a system for 20 trades in a row,
trade another. Find out what works for you, what you like and what
you don’t like. Then move on to step 5.

5. Learn to the art of money management. A good technical analyst
does not necessarily make a good trader. Again, this is specific to
forex, but the technique applies to any market. Open an account with
OANDA. You can open an account with as little as $500 dollars, and
you can trade as little as a single unit of EUR/USD for example. This
means buying a single Euro and selling a single US Dollar. Try your
systems again. Make each tick worth 0.01, or 0.05 or 0.10. This may
seem similar to trading a demo account. but the knowledge that you
are risk actual money will trigger different pathways in your brain and
trigger different stress reaction that trading completely virtual money.

6. Develop a trading plan. Write down your entry rules, your exit rules,
you money management rules. Print it out or write it by hand. Stick it
above your monitor, and follow the rules. You may decide to change
your system or change your rules. If you do, print out the new rules
and follow them without fail. You cannot change your rules in the
middle of trade. You must be two people. You must be a planner, and
an executor. The planner cannot execute traders, and the executor
cannot change the plan.

7. Execute your trading plan. Over and over and over and over and
over. Track your performance. Identify areas that need improvement.
Rinse and repeat. Find and talk to other trades. Share ideas and ask
questions.

Go Back to The Forex

Scalping

2007-07-21T04:12:00.000+05:30

Scalping is a trading strategy that the trader try to make many small profits with small price changes, the Scalper will place from dozens to hundreds trades in a single day because it’s believed that the small price moves are easier to catch than larger moves.
It based on an observation that the most of the price movements goes in the trader direction for a while of time before it goes in its trend direction!

In the Forex world a lot scalpers say “If I make a 20-25 pips per day by scalping the market and with a proper money management I might double my account balance every month”.Theoretically, true! But what about the risks? What about the risk of scalping the market?

Scalping risk

While it seems profitable method when scalping the price movements,however the spread you pay when you open a trade makes the method more risky than the long term trading (trend trading).
For example if your broker charges you 5 pips spread for opening EUR/USD position and your target is 10 pips and 10 pips stop loss; the price have to move 15 pips (5 pips of spread + 10 pips your target) to take the profit while it have to move only 5 pips (10 pips your stoploss - 5 pips of spread) and stop loss level will be reached.So, the risk-reward ratio in this case is 2-1 which means a very dangerous and risky method to scalp!
Another risk in the Scalp is that one large loss could eliminate the many small gains that the trader has worked to obtain. So it needs a very good exit strategy to decrease this risk!

Rules for Scalping
In order to scalp the markets effectively, you must apply certain rules which do not necessarily apply to other forms of day trading. You will need to know and observe these rules carefully and consistently if you plan to become a successful scalper:
1-To compensate for the relatively small size of moves which you will attempt to be capturing as a scalper, you will need to trade considerably larger position.

2-If you are willing to accept the risk of trading larger position, and then you cannot scalp the markets in a fashion which makes trading worth your while.

3-To be a successful scalper, you will need to take your losses as well as your profits very quickly.

Summary

No matter what method you use for scalping the forex markets,remember that the scalper attempts to achieve the following important goals:

1-To trade as often as possible to accumulate as much profits as possible by taking advantage of small but reliable moves within the day time frame

2-To exit positions very quickly either at a profit or at a loss

3-To avoid having a strong opinion as to market direction in order to limit the possibility of being influenced to act on opinion as opposed to market fact

Go Back to The Forex

Support Us

2007-07-17T02:03:00.003+05:30

We need support. Your support ! Maintaining this blog is not easy, and does take time. I have done my level best to offer you advice, tips and hints on how to become successful online and WITHOUT CHARGING YOU A CENT. Most of you may shrug and say, We have no money, how can we help you ! For starters, if you are reading this page, I thank you for caring. Secondly how can you help us, we got 6 ways !

1. Comment, Review And Feedback
Yes, a comment motivates us tremendously to keep pushing forward and serving your best interests. If you agree with something say so, if something has helped you, point it out, so that other readers can follow. If alas, you disagree, make sure you tell us why. Got scammed, not paid ?? Tell us. We are listening !

2. Sites Are not available
Tell me, email me. They will be removed. Its not possible to maintain such a huge directory, but i do try my level best

3. Contribute
Found an even better site? Got paid more? Or think I'm missing something. Email me your contributions and I will put them up Here as you sent them (EVEN REFERRAL LINKS UNTOUCHED, PROMISE)

4. Bookmark Me
Yes, nothing helps more than a frequent visitor

5. Link HERE
Please do, recommend this to your friends, place a link on your blog. I may/maynot have helped you, so let me have a shot at helping someone else

6. Advertisement
To lucrative advertisers, or people searching for cheap adspace, Im open, contact me with the image on the left column

7. Funds
And if you are feeling a little generous, you could always tip me. I accept e-gold, Paypal and MoneyBookers

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Reviews

2007-07-17T02:03:00.001+05:30

This page contains links to all the sites that i have come across, a break up of how much they pay, how they pay, payment proofs (if available) and current status (paying/not paying)

Please note, this page is for reference purposes, please check the site status before you join them

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Paid to Sign up

2007-07-17T02:02:00.005+05:30

Paid to sign-up sites (pts) as the name implies, pays you to sign up. Pts allows for a higher pay, ranging for as much as 20 cents per free sign-up (implying you dont have to spend any money to join the site) and as much as $10 for a paid sign-up (which i do not suggest unless you really want to buy/sign-up for the offer as it is merely a discount on a higher funds)

But I warn you, please do not sign up for an offer if you have already signed up for it before, and please use the same email address to sign up as the email address you provided to the particular site while registration. Failure to do so may result in your disqualification and loss of all your earnings. Besides this, there maybe some other rules that vary from site to site

Go Back to Making Money From Scratch

Paid to click websites

2007-07-17T02:02:00.003+05:30

Paid to click (ptc) websites do as the name tells you, pay you to click the links. Majority of the ptc provide you links that can be clicked once ina 24 hour period. Payment per click may vary and go from one hundreth of a cent (or 0.01 cent = $ 0.0001) to even 3 cents ! But on the flip side, some websites have a minimum payment scheme where they pay you only after you earn a minimum amount.

Majority of the ptc sites pay via e-gold and/or paypal

Go Back to Making Money From Scratch

Miscellaneous

2007-07-17T02:02:00.001+05:30

These involves sites which do not fit into any of the other categories. That includes ptc, pts or hyip.

These sites pay you for performing tasks outside of the popular ones found on the internet and may/maynot require special skils

Go Back to Making Money From Scratch

Leisure

2007-07-17T02:01:00.002+05:30

This basically involves a host of other stuff that has got nothing to do with business, marketing, or finance.

Its just around here so that you can relax and read some interesting stuff

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HYIP

2007-07-17T02:01:00.001+05:30

High-Yield Investment Programmes as the name suggest give you a high yield for what you invest. In general a 5% interest or greater per day. Thats quite a bit. Unfortunately, this is the most scammy part of the market and can be regarded more or less as a gambling risk. However, there are still a few names in this business which have been there for years and have substantial holdings which make them very reliable.

Please note, that you are expected to invest variable sums of money in the following sites. You may/maynot lose money. Also please read the offer document carefully before investing.

Go Back to Making Money From Scratch

The Forex

2007-07-17T02:00:00.001+05:30

The Forex (Short Form of Foreign Exchange) is a financial market where traders can trade (buy or sell) foreign currency. It is a very exciting world of trading owing to its immense size,unpredictability and timings as the markets runs straight from 5 pm EST Sunday to 5 pm EST Friday straight. Trades can be made instantaneously and decisions to buy and sell are being made all the time.

Basic Concept of trading on the Forex - If you believe value of a market instrument is going to increase, then you would buy the instrument and at one point in the future you would sell it for a higher price. Simple !

Your goal in trading is to buy at a lower price and sell afterwards for a higher price.

The best trading platform would be Marketiva (Partly because of the 5 dollar bonus they offer for first time visitors :D )

Below are a list of resources

Please Note - Trading on the Forex does involve a considerable risk of loss of money. The ideas and tips given here do not guarantee large returns on investments. The tips posted below may/maynot have been extensively tested by me. Please use your better judgement in making the right decisions

Resources for Beginners

Marketiva - The Best Trading Platform

Why Trade the Forex ?

Basic Introduction to the Forex - Part 1 (Fundamentals)

Basic Introduction to the Forex - Part 2 (Fundamentals continued)

Basic Introduction to the Forex - Part 3 (Leverage)

Basic Introduction to the Forex - Part 4 (Types of Orders)

Basic Introduction to the Forex - Part 5 (Selecting A Broker)

Basic Introduction to the Forex - Closing Notes

Articles

Marketiva - The Best Forex Broker for Newbies

Scalping - What is it

Tips on Becoming a Profitable Trader - What everyone should know

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Earn your first cent in 5 minutes !

2007-07-17T01:57:00.000+05:30

Robo-gold, is a site which provides a daily bonus of anywhere between 1 cent to 20 cents a day just to visit the site

For starters to avail the bonus you will have to get youself an E-gold Account

After you do so, head over HERE

Fill in the details requested of you, and then head over to your inbox and confirm the said mail. (I suggest you provide gmail id's, hotmail and yahoo id's do not work sometimes)

Check your e-gold account and verify if you have recieved the money

Congrats, Your first cent(s) !

Go Back to Making Money From Scratch

Disclamer: The above noted website provides only 1000 bonuses per day. It is an external site not controlled by the owner of this blog, and may with or without notice stop providing funds

E-currency

2007-07-17T01:56:00.000+05:30

E-currency, in effect is virtual currency or web-money. Some e-currencies like E-gold are completely independent and are not in any way linked to the other popular currencies traded. However, some like Paypal, deal exclusively with the dollar.

E-currency accounts are like bank accounts and can be used to recieve,store and transfer e-currency. However certain E-currency Dealers may require you to prove your identity while opening an account, some may just not require it

I suggest you open E-gold, Money-Bookers And a Paypal Account. Together they involve almost all of the transactions online.

Paypal though is open to only a few selected countries, whereas E-gold and Money-Bookers allow you to trade from anywhere in the globe.

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Making Money From Scratch

2007-07-17T01:53:00.000+05:30

Judging that Most people are really reluctant to invest money in anything online (that involves YOU, judging from the fact that you are reading this page !), which is a fact. Being scammed on the internet happens more often than not, and judging a scam site from one that actually pays takes alot of experience and time. And involves getting your hands burnt more than once !

However over here, I'm going to introduce to you sites that actually pay ! In other words, you will earn money for free ! You just have to fulfill these conditions

1. Be willing, ready, and dedicated to earning money online
Before you start, please be aware that it takes atleast a month to start seeing the money pouring into your account. Ideally, atleast 3 months before you can start earning $50 per month. I should know, I started with a balance of zilch, and right now I have quite abit, FOR FREE !

2. Internet Connection (Obviously)
You need an internet connection, the faster the better... the cheaper, even more better. I'm telling you, becoming a millionare online is difficult (not impossible !) but with the right guidance anything is possible. Surely, within 3 months you'll be paying your internet bill (worst case !).

3. E-currency
You need an account to collect you money that you earn online. Something like a bank account. The 3 most popular online e-currency sites include E-gold, Money Bookers and Paypal. Consider Opening an account With atleast two of them (I recommend E-gold and Paypal)
Please note, Paypal is available only to a few countries, but E-gold is open to everyone

4. Read through this blog
Yes, finally the easy part, go through this blog. Yes, bookmark it, go through it, comment on it and send in your feedback I'm assuring you that all the sites listen here actually pay ! And I go through great pains to check each one of them periodically and ascertain their status. If by chance THEY DO NOT PAY YOU, please report to me asap and ill remove the offending site from this blog !

List of articles

Earn your first cent in 5 minutes !

Top ways to earn money online

Paid To Click Sites

Paid To Sign-Up Sites

Hyip (High Yield Investment Programs, Go here if you want to invest your money)

Miscellaneous (Cannot be fit into the above categories)

Go HOME

GoldStarCredit.net

2007-07-16T18:12:00.000+05:30

Have a problem with finance ? Need to figure out something small such as which credit card to select? Or, an even bigger problem as to where to get a loan from ? Or, a specialized problem as to which loan to obtain so as to buy a new vehicle ? Then GoldStarCredit is for you !

GoldStarCredit offers excellent service, and are very knowledgable when it comes to matters related with finance. Their aim at the end of the day is to help their customers and as financial advisors they most certainly do have to experience to do so ! They also provide student, and business credit cards and can advise on the status of credit (good or bad).

On a lighter note, their website is designed fabulously well, and navigation is really easy around the site, they mention on the first page what they offer so head over there and have a look and see if they suit your needs

If you do not find what you are looking for, please head back to the site at some other time because they are constantly updating their site all the time !

Update headaches

2007-07-14T08:14:00.000+05:30

I know, this has taken alot more time than i actually wanted it to, but I went on a short vacation, sorry !! This will be up by next monday ! Promise !!

$2500 up for grabs

2007-07-11T14:32:00.000+05:30

Over at Ashwin’s blog, you will find one crazy blog owner!! You can win $2500!! To enter just copy this text and paste it in your blog!! But hurry, this competition will not last long! So get posting!

Going is good !!

2007-07-02T03:11:00.000+05:30

Yes, so far its going good, unfortunately my work on the template is getting complicated, i am just not able to hit the right note i guess

I have decided to allow certain people to advertise on this blog, not just anybody, but only people who actually pay

So far this blog is going to cover the folloring

The Forex (tips for newbies)
Making money online ( A few specialized articles are already ready !! )
Hyip's - the few dedicated ones

Hoping i get a good response !

Please leave me your suggestions and comments, they really are very helpful even if its just a hi !

My plans for this blog

2007-06-27T02:07:00.000+05:30

Over the next couple of days ( or maybe over this entire month) I will basically be rewriting the html of this page, will be making it abit more attractive and simple as well. Im looking to add in a lot more widgets and html in the side. As of now i have no inclination as to which direction I am going in, but as time goes by i will find the path Im sure.

For starters this is going to be a purely business blog, and as of now my motive is to spread the knowledge that I have gained in my experience of becoming successful online. I learnt the hard way, after squandering lots of money on the forex, after getting duped by scams, after working under the wrong corporations and blah blah. But i really learnt from all these experiences and as time goes by Im getting better and better.

Now my blog is going to be all about becoming financially online from scratch, as i suffered without having anything to refer to, or anybody to guide me. Hence i decided to make this so that I can help everyone who is interested in becoming successful online. I tell you, at the end of this, you may not become a millionare, but you can earn enough to pay your online internet bills.

Oh finally, Im not charging anybody anything for this. The information available here is free for all to use, but if you want to chip in, please do. If its something worthwhile, You always have a place here on my blog.

Thanks for reading this, but I know the first thing I am supposed to do is go and search for people to read this

What I intend to do here

2007-06-25T03:06:00.000+05:30

Well, what i intend to do with this blog is simple yet stupid, Im going to experiment with blogging, as a tool, as a weapon. I needed a versatile option, a blogging agent that will allow me to get down right to the source code and get my hands dirty, a blogging agent that allows you to blog as you want and how you want. Wordpress was good, and I still intend to use wordpress, but its too rigid, alot like MS Windows, and i think Blogspot is better in that respect, so here I am, back again in Blogspot, after 2 years !