1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Internet Marketing or Forex?

Discussion in 'Black Hat SEO' started by Magicodar, Aug 3, 2013.

  1. Magicodar

    Magicodar Regular Member

    Joined:
    Jul 21, 2013
    Messages:
    266
    Likes Received:
    30
    Occupation:
    Internet Markekter
    Home Page:
    My friend keep asking me to join forex and he is telling me that he is making more than 5 figures per month. I'm still on Internet marketing after 3 years. SHOULD I go for Forex ? I heard there are a lot of risk on playing Forex? please guide me out.
     
  2. HerpDerpSlerp

    HerpDerpSlerp Power Member

    Joined:
    Mar 19, 2013
    Messages:
    778
    Likes Received:
    623
    Just like IM you really need to know what you are doing in Forex. You have 3 years on forex. You really want to start over? There is no easy button.
     
    • Thanks Thanks x 1
  3. Magicodar

    Magicodar Regular Member

    Joined:
    Jul 21, 2013
    Messages:
    266
    Likes Received:
    30
    Occupation:
    Internet Markekter
    Home Page:
    No. I have 3 years of experience on IM. But I have 0 experience on Forex? How long I need to learn in order to earn $ and what are the risks?
     
  4. ScrapeBoss

    ScrapeBoss Elite Member Premium Member

    Joined:
    Nov 25, 2010
    Messages:
    1,865
    Likes Received:
    669
    Location:
    123.456.789.012.345.678.901.234.567
    Home Page:
    Yes, it is possible to make good money in forex every month. At the same time, it is possible to lose thousands of dollars overnight. I would suggest not going into it and abandoning other income sources, one of which is IM. Get involved in a part of everything, so that if one fails, some will make you some money
     
  5. Magicodar

    Magicodar Regular Member

    Joined:
    Jul 21, 2013
    Messages:
    266
    Likes Received:
    30
    Occupation:
    Internet Markekter
    Home Page:
    My friend said he is making passive $12k+ per month using Forex? How he do it? What are the risks of Forex?
     
  6. HerpDerpSlerp

    HerpDerpSlerp Power Member

    Joined:
    Mar 19, 2013
    Messages:
    778
    Likes Received:
    623
    I know, which is why I said you have 3 years on forex. Which means you are 3 years ahead in knowledge on another subject besides forex. Yes, you can make money in online trades. Is it easy? no, but neither is Internet Marketing. Pick something that you have more interest in, not just because you see dollars.

    There is HUGE money in prostitution.....but do you have interest? get the point?
     
    • Thanks Thanks x 2
  7. Free Man

    Free Man Junior Member

    Joined:
    Mar 31, 2013
    Messages:
    165
    Likes Received:
    115
    If you're earning anything off IM and it makes you happy, then i don't see a reason to stop it and jump into another unsure money making method. Things that affect your forex earnings are way out of your control and it's certainly not stable if you can't accept losing money on your way.
     
  8. lakim0

    lakim0 BANNED BANNED

    Joined:
    Sep 6, 2012
    Messages:
    903
    Likes Received:
    2,606
    If you've been doing IM for 3 years, you should at least make twice more than your friend.
     
  9. mickyfu

    mickyfu Jr. VIP Jr. VIP Premium Member

    Joined:
    Dec 14, 2011
    Messages:
    5,279
    Likes Received:
    15,473
    Location:
    Jennifers Office.
    Does he actually make this though? Or does he have a tendency to talk shit? To make big money in forex, you tend to have to invest big money. If you invest small amounts of money, you are basically gambling.
     
  10. VinceC

    VinceC Elite Member

    Joined:
    Jun 8, 2008
    Messages:
    1,616
    Likes Received:
    728
    If u have some spare money to burn, I would suggest go for it, forex. BUT, also do not give up your IM too. If u never try, your mind will always be bothering u on this issue. Give it a try, if success, congrats. If not, u still have IM as a backup. Never try, never know.
     
    • Thanks Thanks x 1
  11. Scritty

    Scritty Elite Member Premium Member

    Joined:
    May 1, 2010
    Messages:
    2,807
    Likes Received:
    4,496
    Occupation:
    Affiliate Marketer
    Location:
    UK
    Home Page:
    If you have been doing IM for 3 years well, and consider $12,000 a month a huge amount, maybe you should diversify.

    $12,000 a month is a decent amount for sure, but after 3 years you should be at least close to that. If you are not earning at least a couple of grand a month after 3 years then I would diversify or consider whether IM is your strenght. Also be honest with yourself - how hard have you WORKED for those 3 years? 40 hours a week for 40+ weeks a year - or were you lazy and did 10-12 hours a week and played games and went to the cinema - meaning altogether you haven't actually worked for a year yet.

    If you genuinely are working hard and not making at least a few grand a month after 3 years - you'd be better off doing just about anything else financially. Road sweeping would pay more. Consider diversifying or moving on. IM just might not be your thing

    Scritty
     
    • Thanks Thanks x 14
  12. baldonius

    baldonius Newbie

    Joined:
    Jul 19, 2013
    Messages:
    44
    Likes Received:
    3
    Location:
    Turks and Caicos Islands
    Forex spread betting is great, but everyone goes through a learning period where they lose quite a bit of money. Once you focus on one currency pair or one commodity, you start to make lots of money. I recommend eToro.

    And in the UK, spread betting income is free of income tax, so long as it isn't your main source of income.
     
  13. lshiun

    lshiun Junior Member

    Joined:
    Jul 28, 2012
    Messages:
    132
    Likes Received:
    54
    Location:
    Earth
    NEVER EVER TOUCH FOREX!!! In investment world, currency is the worst investment because of their standard deviation(risk) and no one can predict the fundamental value of currency and past performance IS NOT related to the future performance. prepare to lose money in long term. All forex systems you found are some sort of scams, whoever make $ thru the systems are pure luck.
     
  14. baldonius

    baldonius Newbie

    Joined:
    Jul 19, 2013
    Messages:
    44
    Likes Received:
    3
    Location:
    Turks and Caicos Islands
    Forex success relies heavily on skill - it relies mainly on using stochastic oscillators to correctly predict swings and changes. If someone were to rely on "pure luck" then no wonder if they didn't succeed at it.
     
  15. BadyBoySEO

    BadyBoySEO Regular Member

    Joined:
    May 17, 2013
    Messages:
    320
    Likes Received:
    94
    Location:
    United Kingdom
    Your friend is an idiot. Forex can be a good investment, but if you really want to make a living from, spend about 3-5 years learning about financial markets. The vast majority of retail Forex traders lose money, because they are over leveraged and don't properly understand the markets. Your friend is most probably over leveraged and over exposed to the markets, unless he has a huge sum in his account.

    Consider trading, but don't jump straight into it. It's a steep learning curve, been trading for three years and while I've made a profit overall, things have only really started to click properly recently. People think trading is easy, but around 70-80% of retail traders end up as losers. There is a reason why hedge fund managers and top traders are paid so handsomely.
     
  16. Magicodar

    Magicodar Regular Member

    Joined:
    Jul 21, 2013
    Messages:
    266
    Likes Received:
    30
    Occupation:
    Internet Markekter
    Home Page:
    After reading all advices, I think IM still safer than Forex.?
     
  17. lshiun

    lshiun Junior Member

    Joined:
    Jul 28, 2012
    Messages:
    132
    Likes Received:
    54
    Location:
    Earth
    Stochastic oscillators are used for stock not currency. Currency cannot be analyzed. i am CFA btw
     
    • Thanks Thanks x 1
  18. BadyBoySEO

    BadyBoySEO Regular Member

    Joined:
    May 17, 2013
    Messages:
    320
    Likes Received:
    94
    Location:
    United Kingdom
    Stochastic Oscillators are used by lots of Forex traders, its just a measure of the current price in comparison with the selected periods highs and lows. Whether Stochastic Oscillators can be used as a reliable indicator is questionable, the majority traders who take Stochastics into account, use an stochastic oscillator alongside other indicators.

    I know of traders who use stochastic successfully within a more complicated trading strategy, to help identify overbought and oversold levels.
     
    • Thanks Thanks x 1
  19. BlackSeng

    BlackSeng Jr. VIP Jr. VIP

    Joined:
    Mar 5, 2009
    Messages:
    1,963
    Likes Received:
    3,519
    Occupation:
       
    Location:
    SG50
    I traded CFDs before in the past. Lost about 10k because of lack of discipline.
    I studied everything about technical analysis and I still lost because of discipline, over-trading, .etc.

    So even if you think you have the skill to trade, you need to master controlling your emotions.

    Recently I've just started trading again. I trade small and also writing naked options (I know, high risk I cut risks and limit losses by buying otm options, .etc), and am doing well. IMO, price levels and Fibonacci retracement levels do help in a way. And I use basic indicators like momentum, RSI, and MACD.

    Anyway, what I'm trying to say is.. you need to study and learn. And don't think just because you can trade well using paper money, it means you will be good when you're trading real money. Your emotion will step in and if you let emotion control you, you will make horrible actions which results to worser losses.
     
    • Thanks Thanks x 4
  20. leena

    leena Jr. VIP Jr. VIP

    Joined:
    Apr 13, 2010
    Messages:
    1,979
    Likes Received:
    757
    One of my partner has stopped doing IM and started with Forex and he is hardly making anything as of now. I guess it takes experience, just like its required in IM.
     
    • Thanks Thanks x 1