theirkidding.com

How do they make money from the Forex Carry Trade?

admin — Mon, 20 Apr 2009 10:43:09 +0000

Though a lot of people like to make this sound complicated, it’s not. Even though the mechanics of carry trades are pretty simple the results might not be.

What is a carry trade?

Borrow the low cost currency i.e. low interest rate currency
Covert the borrowed currency into a currency that is giving a high yield.
Reinvest into:
- - Deposits of other high yielding currencies
  - Stocks
  - Bonds
  - Commodities
  - Real Estate
  - Derivatives

The currency you borrow in step one is called your “carry trade currency”, some people call it the funding currency. That’s because this borrowed currency gives you the funds to reinvest in other areas. So keep in mind that “carry” and “funding” currency is often used interchangeably in financial literature.

Simple process, why was it, so popular? The reason is because it was profitable. It’s very enticing to be able to borrow inexpensively, reinvest and immediately achieve a much higher return. There’s lots of money to be made due to the difference in cost of funds versa return on funds.

That’s how the theory goes, but it is not always that simple.

For example, say you borrow at 1% then turn around and reinvest the proceeds at 6.5%. You’ve just earned yourself a quick 5.5% return without much work. This of course assumes the asset yielding 6.5% in this example holds its value. If the asset you buy with the carry proceeds falls in value, you have a capital loss. Thus it eats away at the margin so things don’t look so good.

In fact, this is where the problem comes in with the carry trade - it’s based on simplistic assumptions. But incredibly, these simple assumptions didn’t stop fund managers and institutions across the globe from borrowing trillions of dollars to reinvest those assets. And they added massive leverage to boot.

You need to have three major criteria (which are assumptions when projected into the future) for the carry trade to grow into any significance:

1. Low borrowing rates from a major central bank - as highlighted above, it comes down to perceived profitability of borrowing cheap and buying or lending at higher rates to achieve the spread. But for a global carry trade to generate any sort of interest from the big global players there must be a major global central bank behind the trade (Bank of England, European Central Bank, Bank of Japan, etc.). For example, if the central Bank of Zimbabwe were offering 0.5% interest rates, they could not realistically produce enough loans to make it significant. Not to mention they have absolutely no credibility when it comes to monetary policy and a stable currency.

2. Low volatility or weakness in funding currency - if the currency you borrow drops in value to other currencies then you win more, if it stays the same you should be ok, but if it goes up in value then you have a problem. It can quickly wipe out all your profits and you end up losing.

3. Low volatility or strength in invested asset class - As long as the asset class you bought e.g. other currencies, stocks, bonds, etc. with the borrowed proceeds increase in value faster than the underlying borrowed currency, the trade is profitable. But if the assets you bought start to decline in value on a relative basis, your losses can mount quickly.

So there you have it. It’s a straightforward process.

Of course if a lot of big investors and institutions put billions and even trillions into this type of investment. So when we have major market disruptions like we have just experienced then watch out.

Something simple becomes simply devastating for all of us.

Of course when one takes into account leveraging, the means by which a lot of these” high flyers” increase profits for their investors, when things go wrong it means much bigger losses.

Using leverage in the currency markets.

admin — Sun, 19 Apr 2009 08:40:59 +0000

How does leveraging your currency trades differ from leveraging your stock trades?

For starters, you don’t have to pay margin interest to hold a leveraged position like you do in stocks. You’re allowed to control a currency pair as long as you put down a “good faith deposit.” Note: if you place a sell order on a currency you will pay interest for that position each day, however on the flipside if you buy a currency you will be paid interest each day.

So if you’re trading currencies with a mini-account, you’d put down as little as US$25 or as much as US$200 deposit to control each mini-lot, this is because different brokers allow different amounts to control the exact same position.

Let’s suppose I had US$3,000 dollars in my currency trading account. If I open up one mini-lot, then my broker sets aside US$100 out of my account as a good faith deposit. That gives me the “right” to control that position. It’s much like your banker letting you control your house even though you haven’t paid for all of it yet.

It works in a similar fashion in Forex trading. My US$100 controls one mini-lot (or 10,000 units of currency). Then when I close out that lot, the US$100 is freed up and back in my “usable margin.”

Your usable margin is what you have left in your account once your broker takes the “good faith deposits” out of the equation. Then if the trade goes against you, your usable margin starts going down. If your usable margin goes to zero, then you experience a margin call. That means your firm closes out your position from their side.

Some brokerage firms work to ensure that your trading account doesn’t post negative balance. When you’re choosing a broker, make sure you ask if your potential broker provides this service. Otherwise, you could end up losing a bit more than what you had in your account.

However, at some firms if you’ve got US$3,000 in your account, then that’s the most you can lose.

That’s incredible if you compare it to trading margined stocks or commodities. In stocks, you can lose far more than you put in if you’re on margin. The same goes for trading commodities. Yet you get higher leverage in Forex than you do in either stocks or commodities. So be sure to ask your broker what their policy is on how they handle margin calls and debit balances.

To sum up: Leverage means you put down a little to control a lot essentially. So when you’re putting down US$100 to control one lot, you’re controlling 10,000 units of currency. So in this instance, you’ve got 100:1 leverage because your initial good faith deposit is 100 times smaller than the amount you’re investing.

Leverage is a double-edged sword. It magnifies both gains and losses. That means leverage allows you to either turn a small investment into large returns, or lose a lot faster.

Just like in stocks, you can shoot for the higher returns in the currency markets by leveraging your currency trades. That’s how the professionals manage to make the double or triple-digit gains or losses.

What do the Forex, Commodity and Stock markets have in common?

admin — Sat, 18 Apr 2009 02:46:20 +0000

Commodity, stock and currency traders all track similar indicators. These indicators have an impact on each market. Of course one needs to know how these indicators affect the currency markets.

A word of caution things change so always make sure that you test this on your demo account before going live.

For years the euro has been referred to as the “anti-dollar.” Investors poured their assets into Europe when they didn’t like what’s happening in the U.S. economy. So, look to invest in the euro, if the U.S. economy looks soft was the catch phrase.

What we have seen lately is that when the US economy really tanked there was a “flight to safety”. Money came from the euro and every other currency back into the USD.This will continue until people wake up to the USD and realise that it is worth less every day, while the printing presses are running at full speed, churning out billions of extra USD. We are already seeing Asian and Middle Eastern countries putting more of their foreign reserves into other currencies reducing the percentage of USD held. Look for this trend to increase.

· The Japanese yen is the market gauge for risk. So when the Dow goes down, the yen generally goes up. When the Dow goes up, the yen generally goes down. The Swiss frank has also been in the same basket in the past yet it seems to be out of favour lately.

· Agricultural prices affect the New Zealand dollar (NZD). That means as agriculture prices increase, it helps the NZD.

· Japan likes to have a “cheap” currency. Since they are major exporters, they want their goods to appear very inexpensive. The BoJ is known to intervene in the market to try and keep the YEN low.

· Gold is one of Australia’s major exports; therefore the price of gold influences the Australian dollar (AUD). So as gold rises, the AUD rises.

· The Euro zone and the U.K. have similar economies. So if you see the Euro or British Pound go upward, the other is likely to go up also. This is why in many years EUR/GBP will range trade. Range trading is where there is no definable trend upward or downward. It’s basically sideways.

· Over a long period of time, the health of the U.S. economy influences the Canadian dollar. So if you’re watching the U.S. markets, you know how the CAD will perform long-term. The U.S. depends on Canada for oil, lumber etc. So when Canada’s major trading partner suffers, so do they. The Canadian dollar (CAD) is highly influenced by oil. That means as oil goes up, it helps the CAD.

· Australia and New Zealand have a tendency to follow one another’s economies. They both tend to have rising and falling interest rates at similar times and they are big exporters. China gets a lot of food products from New Zealand and many of their other products from Australia. This is why, in many years, AUD/NZD will range trade.

· When the Nikkei is down over night and the U.S. stock futures point to a lower opening, there’s a good chance that EUR/JPY will head lower in the short-term.

You can use this information when deciding what currency to Buy or Sell. Short term moves will always muddy the waters, news that relates to the above points will move markets, but long term the underlying fundamentals will eventually win out.

Forex Trading Which Broker to Choose

admin — Wed, 15 Apr 2009 11:00:10 +0000

Forex brokers are either a dealing desk or a “non dealing desk”. Once you know how they differ, you can see which is best for you.

What’s Behind the Dealing Desk?

Dealing Desk This is where a Forex broker has its own “in-house” trading desk that offsets your orders. In other words, they’re betting against you - taking the other side of your currency trades.

You win they lose, you lose they win; guess which way the odds are stacked.

These trading desks are hedging against poor traders, so they tend do quite well. They’re also providing the liquidity you need to get in and out of positions when necessary.

However, because dealing desk brokers bet against all the positions coming into their firm, usually they don’t want you taking longer positions. They don’t want you to scalp the market either because it’s too hard to offset their risks. Plus, they’re taking on all of the risk and they don’t have that much potential to profit.

You’ll tend to have more slippage on your orders with a dealing desk and more “re-quotes” of your currency pair. Slippage is the difference between what the price is when you click to buy or sell and what price your trade actually fills at.

Dealing desk brokers often require you to margin more to receive carry interest. This is also called “rollover” interest in the industry.

A dealing desk firm also tends to have wider spreads because they are taking on more risk as a firm. Your loss is their gain, and their loss is your gain.

You need to be careful with a dealing desk firm as they will often chase your stop loss i.e. if the market gets close to your stop loss they will increase the spread or push the market to your stop loss and take you out of the trade. You lose they win! They steal your money!

Trading is a Little Easier without a Dealing Desk

Non Dealing Desk brokers tend to be best for most traders. Here’s why.

There is no dealing desk. Rather, multiple banks place competing quotes onto the trading station. They are competing for your business as they try to give you the lowest buy and the highest sell price available. This also lessens your spreads between your buy/sell quotes.

There are many advantages to the “no dealing desk” model. It’s the one I prefer because I feel they are not trying to get me to lose my money like a dealing desk does. They make their money every time I trade not matter what happens to the trade.

Usually, there aren’t any re-quotes and there’s far less slippage with a dealing desk broker.

“Re-quotes” happen when a broker has to confirm a price to you as still being valid. This typically happens in faster moving markets. However, it takes away a lot of the “tradability” out of it at those times. And that’s what they’re actually hoping you do…either don’t trade at those times when they’re taking on higher risks than usual or trade at the “less favourable” quote. However, they’re not going to tell you that it’s a less favourable quote.

With non dealing desk, your firm doesn’t have a bias for or against your trade. The broker doesn’t profit if you lose or make money. The broker profits because they take a piece of your spread (the difference between the buy and sell quote).

The non dealing desk model acts as a “pass through” to the inter-banks. So these inter-banks are taking on the risk.

You can take longer term positions because your broker isn’t taking on the trade’s risk.

“Non Dealing Desk” Brokers don’t stop You from being Successful

If you do “too well” in a dealing desk brokerage, they’ve been known to close out your account. They don’t need a good reason why either.

The same goes for scalpers. Start scalping in a dealing desk brokerage and you’ll be getting a phone call telling you they are putting you on “dealer intervention.” This is where they have to delay your buys/sells to make sure that you have the “proper price.”

(A scalper is one who is trying to take advantage of small discrepancies in the market in a very short amount of time. Scalping produces extra risk for a dealing desk firm that they are uncomfortable with.)

In other words, they are going to make it difficult for you to profit off of them. So you might as well close out your account with them or risk losing it all, as the odds are stacked against you.

Forex Trading Why Currencies change relative value.

admin — Mon, 06 Apr 2009 02:19:26 +0000

Why Currencies change relative value.

Money seeks higher yields. everyone wants to earn the most on their money, so traders go after currencies with higher yields.

How do you earn another country’s interest rate? You convert your currency into their currency. This is done by the selling of your currency in the foreign exchange market and buying that higher yielding currency.

We know that when traders sell a lot of any asset, the price falls lower. On the flipside, when traders buy a lot of any asset, the higher demand drives prices up.

When interest rates are rising, traders convert their currencies to that country’s currency, and drive that higher-yielding currency higher.

Inflation = Higher Interest Rates

So how do you know when a country is about to raise their interest rates? You look for countries with high inflation. Good central banks raise interest rates to tame inflation so it doesn’t get out of control.

There is a way to quantify and track inflation. It’s called the CPI (the Consumer Price Index). This is simply a “cost of living” index. It tracks the costs of things such as transportation, food and medical care. You can find out when governments will announce the CPI levels on economic calendars. You can find economic calendars on several sites on the internet.

As the CPI gets above the central banks target the central bankers hike rates to get inflation under control.

How To Tell What “Inflation”
Means to Central Bankers

You can go to a central bank’s site to find out what their target for inflation is. Also, many central banks’ target 2% year-over-year inflation. So if rates are rising above this level and the central bank expects it to continue, then the central bankers will raise rates.

On the other hand, central banks lower rates when the economy slows, employment falls, growth stalls. They lower rates to give the economy a “shot in the arm.” Usually, this is bad news for the currency because no one wants to earn less and less on their money.

If rates are expected to rise, in general, buy that currency. If rates are generally expected to fall, sell that country’s currency.

Launching a Business - things to consider

admin — Mon, 06 Apr 2009 01:52:55 +0000

Launching a Business? Consider The Facts
by: Tina Lynn

You see it splattered everywhere you look; the most innovating “this” and the best “that”. “You must join our business. This is revolutionary”, some say. Or an even better one is the notion that everyone needs, wants, or already uses the product or service being promoted. How many times has someone tried to sell you on a business? You see so many of these claims because people become desperate, vulnerable and want to believe that there are actually programs that can earn them lots of money with little effort. But should a friend or family member suggest a certain business model works and can provide a decent income, what then? Do you go for it? Do you not? What does joining a home based business really mean? Will you earn loads and loads of money? Be able to quit your day job? Well before making any drastic transitions, allow me the opportunity to uncover some myths and facts related to home based businesses.

Myth:
I am my own boss.

Truth:
Not necessarily. Unless you create your own business or product, in direct sales, you are still working under someone else. The differences here are that you choose to work independently, and your training may be somewhat on an individual basis. It may be covered via online or by phone. You are still, however, creating more wealth for the owner and top executives of that particular company. Choosing a business does not guarantee any type of ownership despite your successful years of workmanship. And the closest thing I’ve seen to retirement income is residual income. This income is a percentage earned off of all of customer product orders and is sent to you as long as your clients remain customers.

Myth:
You have more time to spend with family.

Truth:
You may see your family more but this does not mean that you will spend more quality time with them. In business, your success is totally dependent on your production. In the beginning of building your home based business, you will find that there is a great amount of work involved; work that in the end will pay off. Being around your family more often may work against you and the quality of your work, if you do not lay some ground rules ahead of time. It’s best to discuss your goals and plans with your family and give them a clear understanding of how they should treat your work home career and the importance of giving you the space you need to get the job done.

Myth:
I’ll make a whole lot of money.

Truth:
This is one of the most common mistakes when deciding on a work home career. You should never assume that just because someone is earning a lucrative salary in a fraction of the time spent in the business, you are sure to have those same results. Everyone is different. We all approach and reach others on different levels and so on. What works for one person will not always work for someone else. If you join a business solely based on this, you will get burned out and will most likely quit. You must have a passion for what you do and you must believe in what you are representing. If you don’t absolutely one hundred percent love what you do, how are you going to convince others to do the same.

Myth:
Working in business is more stable than having an outside job.

Truth:
This can be no more further from the truth. Businesses are not anymore stable than regular companies. Nothing in life is guaranteed. As an independent contractor working for a business, some contracts state the company does not even need a reason for letting you go. What does that tell you?

Myth:
There are no rules associated with working a home based business. I can work however I want.

Truth:
Wrong. You may be able to work “whenever” you want. But there are always going to be policies and laws in everything that has to do with “how” you choose to market the business and the manner in which you do. Some companies prohibit online marketing, or using their company name directly, and even using your own printing materials. That’s right, just because it’s free or cheap to join, does not mean there aren’t other fees associate with doing your job. Having the freedom to work from home comes with huge responsibilities. Unless you know what you are doing, wandering in unchartered territory can lead to sinking.

There are so many reasons for you to do your homework when reviewing work from home businesses. . Don’t allow others to persuade you into entering an agreement you do not feel comfortable with or one you do not fully understand. You must honestly decide for yourself what is best for you. Can that be continuing to work outside the home or joining a home based business? That decision is for you to decide and you alone. But making your decision doesn’t have to wreck your brain. Here are some pointers that you should consider within your search:

Company Reputation/Integrity

You want to check this carefully. Are there any ripoff reports on them? What is their standing with the BBB? Do they have any current or past lawsuits filed against them? What about customer reviews or the way they treat their clients? What about former contractors? Why did they quit? It’s amazing what you find lurking in forums, message boards, and online groups. If there is any negative feedback, and you are diligent in your searching, you’ll definitely find it. Remember that a business will only sell you. That is the job of everyone associated with it. So you will get nothing but praises from a current member. But ex-members will spill the beans and the beans, are exactly what you want.

Company/Business Policies, Rules and Regulations

Every company and business has their own policy statement. There is always something you sign that is associated with the job you accept or business you join. You want to read this carefully before signing. If you do not understand the jargon, just ask your en-roller or the company human resources. It is vital that you understand your rights and your obligations associated with the position you’ve accepted. I’ve seen some speak about a particular business that cancels your membership if you don’t advertise in the exact manner specified in their policies. Just be very careful and know what you are signing.

Company/Business Training and Employee/Member Interaction

Another disadvantage. If you are trained by your down-line and for some reason, this person either sucks or the two of you do not get along, “tough”. You are either stuck or you have to be strung along through some long drawn out procedure to get switched. This is not the case for all, only some.

Termination/Voluntary Separation

Every business states a different policy relating to termination or “notice of separation”. Some state they can terminate you for any reason at any given time. Others may state that once you are separated from the company you can no longer venture in a business that is related to theirs or even create one. If you are in a business and do not know your policies or what you can or can not do associated with this, please read carefully. The business does have a right to prosecute you if you violate these policies.

It’s obvious that choosing a path such as this is not easy and comes with a hefty price. It could be time, money, heartache, pain or more. It could also be rewarding, worth your while and the best choice you’ve ever made. Predicting the fate is not always clear, but research and wisdom can guide your fate in a great direction. So know the cost and decide wisely for your family and for your future.

Theirkidding’s thoughts on this subject

Their are some good points in this article!

Pick a business model that provides backup and good potential, make it worth your effort.

Internet Marketing and Forex can be very rewarding if you do it right.

What Has a Worldwide Slowdown Done to the Currency Markets?

admin — Sun, 05 Apr 2009 04:39:21 +0000

What Has a Worldwide Slowdown Done to the Currency Markets?

The proposal for a new “‘global reserve currency”‘ has received a lot of press lately. But the media seems to be ignoring the impact of the global economic slowdown on overall currency reserves and the resulting impact on the U.S. Ttreasury market.

China and Japan stockpiled huge reserves on the back of the U.S. consumers, who eagerly bought Asian-made goods. But U.S. consumers are cutting back, and global trade has slowed dramatically as a result. Both Japan and China will therefore have smaller trade surpluses in 2009, and less money to invest back into the U.S. Ttreasury market.

Unfortunately, this fall in global reserves coincides with a big increase in funding requirements by the U.S. Treasury. The U.S. government and Federal Reserve have now spent, lent or guaranteed US$12.8 trillion in their attempt to get the U.S. economy back on its feet. Funding requirements for all these stimulus packages means they will have to sell trillions of dollars worth of new Treasuries to cover their expenses.

Even the Fed’s offer to buy US$300 billion of Treasury purchases won’t put much of a dent in that supply.

With fewer buyers chasing more supply, the price of these Treasuries will fall, and rates will rise. Plus, they will need to entice foreign investors into purchasing this new debt, and the sweetener will be a fall of the value of the U.S. dollar.

Forex Trading- What you need to Succeed

admin — Fri, 27 Mar 2009 06:36:10 +0000

What you need to succeed

First you need to be mentally prepared so if you want to be successful.

Don’t use borrowed money! Only trade with money you can afford to lose.

Use a demo account to practice don’t use your own money to learn. Wait until you have gained enough experience and then start using your money, gradually increase your investment in each trade. Note you should never risk more than a set % of your capital on each trade.
Learn from your mistakes: every time you lose on a trade you should carefully examine what where the factors that led you to lose. You are not failing if you lose money on a trade it is something that is going to happen when you trade in the Forex market. The only way you will fail is if you keep making the same mistakes over and over.
Work to a plan don’t give up too early, as soon as they lose some money many learners quit, believing that this is just a waste of time. Learning takes time and you will make mistakes that cost you money, but if you stick to a good plan and learn from your mistakes you can make money.
You can’t work to a plan if you do not keep records so record your trades! Wins and loses keeping a record of every trade will help you develop your own profitable strategy.
You must work to a stop loss policy, money management is a very important skill. Don’t risk wiping out your whole account. A lot of experienced traders say that the real skill is not making money it is learning how to keep it.

Ok when “YOU” are ready you also need

An honest broker that is happy earning their money from the spread they get for each trade, their commission if you like.

A system that get better than 50% winners and takes the emotion out of the trading!

I tried several auto trading systems, some that only cost a $100 dollars and others that cost me over a thousand.

The real cheap ones could get a 50% or better winning trade result but only in certain market conditions. If the market was not working the way they assumed, I would lose (I was only using demo accounts for these, I have learnt a little bit since I started trading Forex) and all the gains made would disappear.

The systems that cost a lot more where complicated you had heaps of settings that you had to adjust depending on things like, time of day, market trends- steady market volatile market, the currency pair that you were trading,European or Asian session etc etc.

You getting the picture? You need to be an analytical person or plainly put a rocket scientist to get it right. I not either of them so I had to find other ways.

These days I know what I am looking for:

· An automated system, to take the emotion out of it.

· A money back guarantee, if they don’t have one then they do not believe it works, so why should I.

· An honest broker that works with the system, it not much good having a system only to find out your broker can’t or won’t support it.

· A broker that has reasonable spreads, the commission the broker gets on each deal. If the spread is to much it is hard for a lot of systems to make money.

· A broker that does not deal against you ie you win he loses, you lose he wins. Guess what happens in this situation.

When you drop a few thousand on Forex courses and systems and then a few more on Forex trading, it prompts a lot of soul searching. So save yourself the agro and learn from the mistakes others have made, you do not have to make them yourself.

The Rich Jerk Review

admin — Wed, 25 Mar 2009 05:13:53 +0000

If you’ve been online for any amount of time, chances are you’ve run accross an ad for the Rich Jerk Website. His marketing is notoriously obnoxious, saying that other gurus “suck” and that he’s “better than you.”

But despite the marketing of his brand, the Rich Jerk actually delivers a complete easy to use system that puts pretty much every other competitor out there to shame.

The Rich Jerk likes to brag about how he can easily make lots of money doing next to nothing, and that he can teach you how to do exactly what he does.

The best thing I found about the Rich Jerk’s course is that it is really geared towards people with no experience or knowledge about the internet. So while some advanced marketing veterans might think his course is silly, for someone like me who was just starting out, his course was a LIFESAVER.

In fact, in all my research, I have yet to come across a course which is as beginner friendly, and effective, as the Rich Jerk.

The Good:

If the Rich Jerk is anything, he’s to the point. There is no fluff in his book. None. Just packed back-to-back tactics and techniques that teach you how to use his methods to stat making money on the internet.

There is a lot of valuable information in there. What is particuarly interesting are his secrets on creating affiliate websites that actually get you results.

The Rich Jerk talks about how he created lots of affiliate sites like he advises you to make, and wound up selling them for lots of money.

In fact, the tactics the Rich Jerk talks about in the book runs the gammut from affiliate marketing, to wholeselling goods on ebay, to sneaky search engine optimization tactics, to how to protect yourself from scammers and people looking to take advantage of you.

All this combines to be a KILLER resource for beginning marketers.

Another great benefit of getting the Rich Jerk’s course is access to his members-only forum. Only people who buy the Rich Jerk course are allowed to post on the forum, which keeps the quality of posters very high. The Rich Jerk himself even comes on and answers people’s questions - which is more valuable than you can imagine.

The course is also very cheap - in fact, it’s the most affordable internet marketing course I’ve found, clocking in at a measily $9.95. I spend that much at McDonalds for lunch, so $9.95 to learn the Rich Jerk’s secrets is a steal!

And when his refund guarantee was tested, the refund request was answered promtply and courteously. In fact, all my dealings with the Rich jerk support staff have been nothing but pleasent.

But most of all, the thing that puts the Rich Jerk at the top of the list is the fact that with each purchase, he gives you a FREE website to help you get started making money online.

Even if you know nothing about computers, and have no idea how to brave the internet to start your own business - the Rich Jerk will give you a website that has been proven and tested to work.

In fact, he even gives you in-depth training on how to use the site to make money! Something that is far more valuable than anything else I have come accross on the internet.

In fact - you may not even believe this - but this site is one of the free websites the Rich Jerk gives his students to help them get started! It’s completely customizable, so I’m able to make it my own to reflect my personality and experiences.

Because of all this, I cannot recommend the Rich Jerk Strongly enough.

The Bad:

Other than the fact that the Rich Jerk can seem condecending and pompous at times - and that he’s known for using some dirty language on his forum and blog - there is very little bad to be said about his system.

My only real criticism is that I wish the course was longer! His ebook is a breeze to read at 64 pages, so much so that I found myself wanting more. However, he makes up for this with the amazing training he offers when you set up your free website.

The Verdict:

Strongly Recommend - A Must Buy

If the killer tactics, excellent support, elite forum, and free website and training weren’t enough, you simply can’t beat the price.

No other online marketing course I’ve found has been able to deliver the goods as affordably as the Rich Jerk, and I would highly recommend you check him out first before you commit to any other courses.

You can get more information on the Rich Jerk by clicking on the link below:

Click Here To Check Out The Rich Jerk

I hope you enjoyed this review and found it helpful.

Six Figures Yearly Review

admin — Mon, 16 Jun 2008 05:11:30 +0000

If you’re anything like me, and you’ve been surfing the Internet for money-making programs, more thank likely you’ve come across many bold claims.

And so far, I have found few claims bolder than the one in the product “Six Figure Yearly“.

Normally, when I see such someone talking about how you can make hundreds of thousands of dollars in the comfort of your own home doing “next to nothing,” I instantly think SCAM and click away.

But Six Figure Yearly somehow caught my attention because it’s the #1 rated product by many home business review sites. And to make things even more interesting, its also the #1 product in Clickbank.

Apparently, one of the reasons its rated so highly in the Clickbank marketplace is because it has a very LOW refund rate and very HIGH gravity.

This means people are making money with this product and are satisfied with it. So the positive stats really made me curious to sink my teeth into this system and find out if it could really deliver the goods.

So what is Six Figures Yearly system and how does it work?

In a nutshell, Six Figures Yearly is a step by step system, based on the actual experiences of the author, showing you how to make money on the Internet.

In this course, You’ll learn the exact formula used by the author to create residual income streams online. But probably the most important thing you’ll learn is how to diversify your income streams.

Many online marketers make the mistake of “”putting all their eggs in one basket,” focusing on just one offer or one website. Because of this, should anything happen to that one site, their income is heavily affected.

By diversifying your income streams, however, you not only are able to protect yourself from catastrophy - you can also steadily grow your income by adding more and more streams.

For example, let’s say you start a website that only makes $10 a day and then they get rid of it because you feel its not worth the time and effort you’re putting into it for that measily $10.

Inside Six Figures Yearly, their philosophy iss that you need to think bigger and multiply your income stream.

So using their system, you take that website that earns $10 a day, and you make 10 more jsut like it, effectively diversifying your online income. 10 more streams each earning $10 a day means you’re really making $100 a day or $3,000 a month or $36,000 a year.

That’s how people reach their income goals of $1,000 or more a day. And you’ll learn how to do this inside the Six Figures Yearly program.

Again, like most internet marketing products, this system will only work if you actually bother to use it and apply it. There are no free lunches here.

The Good:

The methods outlined are based on real experiences of the author that have been proven to work. By following a proven formula, you save a lot of time going through trial and error yourself. Instead, you can rely on other people’s experiences to start making money more quickly.

The framework or methods used by this program are simple, and you can duplicate them over and over to get bigger and better results. In my personal opinion, this is what sets the program apart from others, because it gives you the power to dramatically multiply your income as much as you want.

The SFY program is applicable to everyone - regardless of experience level. It doesn’t matter where you live, what you do, or how comfortable you are with a computer. As long as you can read English and follow instructions (and have a PC and internet connection of course), then you can learn how to make money using the Six Figure Yearly program.

And unlick most other online offers, the bonus package that comes with SFY is actually good! It completely complements the methods being taught and provides great value to the student.

There’s also a no questions asked money back guarantee for 56 days. When the refund process was tested, it was found to be very prompt, so that guarantee is solid. You’ve got nothing to lose here. Try it, love it, or refund it.

The Bad:

I found the first 5 chapters of the book to be extremely BORING, and pretty much space-filling fluff. The beginning of the course pretty much just talks about why you need to change your mindset and what are the benefits of using this program or system.

If I wanted personal development, I’d read Tony Robins. I want to know how to make money, darn it! Give me more killer and less filler. Fortunately, all these initial chapters are very SHORT! The main stuff (what you pay for to learn) starts on chapter 6 and goes on to the end.

The program also needs time for it to prove its WORTH and it needs a bit of a time commitment from the student. Because of this, people looking for “Quick & Easy” money may be disappointed.

The main idea of the system is to teach you to create ‘autopilot’ income streams, but you need to take time to learn how to create them until your income streams become automated.

Based on my research, most people expect instant gratification, they don’t like to do work that produce only small results initially. That’s why most people will quit after few weeks or months.

There’s also a bit of a learning curve to the system, so if you’ve never done internet marketing before, you may not be able to get started as quickly with the system as you’d like. Its NOT very difficult to learn the system, but it does require you to sit down, focus, and apply the methods that are laid out for you.

The Verdict:

Definitely Recommend.

Overall the Six Figure Yearly program delivers what it promises. It lays out everything for you (no stones left unturned). Some people may experience great success using this system but others won’t. It depends on how bad do you want to succeed with your online business.

If you have a strong determination and ambition to succeed, most likely you’ll find success with this program.

So if you think you’ve got what it takes to continually multiply your online income, I strongly suggest you to give the Six Figures Yearly program a try.

You cna get more information on the Six Figures Yearly Program by clicking on the link below:

Click Here To Check Out The Six Figures Yearly System

I hope you enjoyed this review and found it helpful.