The life of Joe Karbo, the greatest mail order book writer and self-publisher of all time, has some valuable lessons, which will make all the difference between success and failure for any online writer.
Joe Karbo’s life is not only a great inspiration but can also be highly instructive to any would-be online writer.
Joe Karbo’s Biography And Desperate Online Writers
Joe Karbo was virtually bankrupt in 1973, the year he wrote and published his famous book, Lazy Man’s Way to Riches. It is a fact that many online writers today hardly have anything to show for their efforts. There are those who work very hard in return for a handful of dollars and there are those who cannot even find any assignments online that will earn them even a few dollars. In this group, there has to be those who are desperate and bankrupt. Folks who launched their online writing careers to try and get themselves out of the deep hole they are in.
Joe Karbo’s brief biography will prove to you that it can be done. It will also show you exactly how. I admit that that this is quite a loaded statement, especially when you consider the fact that Karbo died before the World Wide Web came along.
Because Karbo was in such a desperate financial situation in 1973, he was keenly aware of a few hard facts. Firstly he needed a product to sell that would give him a very high mark-up, but also one where he could create a selling system for that would generate an endless supply of sales leads and then turn as big a percentage as possible, of those leads into actual sales.
Joe Karbo was to later admit that the 10 dollar paperback that made him rich cost him only 50 cents to produce.
One thing he had going for him was that during his checkered career up to that point, he had developed a keen understanding of human nature. This is the most valuable asset that any writer can have.
There are two possible things that can happen to a desperate person. Either they get very confused unfocused and start running around in circles (sound familiar?). Or they can focus very sharply on one particular thing that they believe will help get them out of trouble. And they then hang on to it, so tenaciously that you will have to kill them first to get them off it. This second option has resulted in many inventions and the pure genius that has birthed many great life-changing ideas.
For Joe Karbo it not only made him rich and famous but he was able to achieve a record that to this day has yet to be broken. Lazy Man’s Ways To Riches sold well over 3 million copies without seeing the inside of any book store. It was all sold via mail order.
The Joe Karbo Self-publishing Technique
But let’s back-up a little to see how he did it because it will help any online writer to learn something that they can immediately apply to their online writing and self publishing enterprise.
Karbo started off with a single tiny ad (all he could afford) crowded with lots of tiny text. The typical direct marketing ad and the sort of thing that makes any ad designer want to throw-up. Fortunately folks who read his ad did not want to throw up.
Saturday, May 10, 2008
Money Techniques
Looking for Who Loves Money Techniques? It could be that you’ve seen an ad or two in the classified section of your local newspaper, but since the advent of the Internet, information on the latest, greatest, best and worst in Who Loves Money Techniques is only a click away. In fact, it often seems like there is a link to a Who Loves Money Techniques on the sidebar of every Google search or banner ad strip of every other high traffic website online.
While there is definitely work to be had and money to be made with a Who Loves Money Techniques, finding the right Who Loves Money Techniques for you will definitely require some legwork and preliminary research on your part. Why? Well, the unfortunate reality is that not every Who Loves Money Techniques is legitimate. Often, a Who Loves Money Techniques reels interested people in with a lot of lofty promises about unbelievable revenue streams without a lot of effort required on your part. They tantalize you just enough to get you to pay the sign-up fee, then leave you hanging after that.
This isn’t to say, of course, that every Who Loves Money Techniques is a fraud. The trick is being willing to perform due diligence and do a background check on the Who Loves Money Techniques you’re interested in before you actually invest any money in it to make sure you are making a good investment in a genuinely promising Who Loves Money Techniques .
Find out as much as you possibly can about the Who Loves Money Techniques you are thinking about pursuing. Investigate the owners, operators and current associates. Check out the Better Business Bureau or websites that specialize in identifying scams to find our about any potential negative experiences others may have had with this Who Loves Money Techniques. If you are cautious and do everything you can to protect yourself, you will maximize the chance that your Who Loves Money Techniques will let you reap the rewards you crave!
While there is definitely work to be had and money to be made with a Who Loves Money Techniques, finding the right Who Loves Money Techniques for you will definitely require some legwork and preliminary research on your part. Why? Well, the unfortunate reality is that not every Who Loves Money Techniques is legitimate. Often, a Who Loves Money Techniques reels interested people in with a lot of lofty promises about unbelievable revenue streams without a lot of effort required on your part. They tantalize you just enough to get you to pay the sign-up fee, then leave you hanging after that.
This isn’t to say, of course, that every Who Loves Money Techniques is a fraud. The trick is being willing to perform due diligence and do a background check on the Who Loves Money Techniques you’re interested in before you actually invest any money in it to make sure you are making a good investment in a genuinely promising Who Loves Money Techniques .
Find out as much as you possibly can about the Who Loves Money Techniques you are thinking about pursuing. Investigate the owners, operators and current associates. Check out the Better Business Bureau or websites that specialize in identifying scams to find our about any potential negative experiences others may have had with this Who Loves Money Techniques. If you are cautious and do everything you can to protect yourself, you will maximize the chance that your Who Loves Money Techniques will let you reap the rewards you crave!
Tuesday, March 25, 2008
Forex Trading And Money Management
The key to huge gains when trading forex with leverage is to make sure you have a specific forex money management system in place. Very few traders pay much attention to money management but it's vital for success and it's much more than simply placing a stop.
Here are some simple tips on money management that will allow you to defend what you have and stay in the game to hit and hold the big profitable trades.
Money Management on Your Overall Account
You should always see the risk you take on a trade in relation to your overall account.
If you have some profit its easier to lose that psychologically than your core equity. If you doing well then increase your bet size - f your not doing so well you decrease it.
It's a fact that poker players make great traders and the reason for this is they know how and when good times to vary their betting style are.
You should not bet the same size all the time forex trading is all about taking calculated risks at the right time and if you have the trading signal and the trade looks right bet as much as you can afford.
If you make a lot of money quickly, don't be afraid to put some money in the bank and liquidate your position or take partial profits.
Monitor your overall equity all the time.
Stop losses
Each and every trade should have a stop loss which is your get out point, should the position go against you. If you assume you are wrong from the start things can only get better!
Understand Random Volatility
When you place a stop you must NOT Place your stop in areas of random volatility.
This is a common mistake traders place their stops close to their entry point thinking it gives them less risk. On paper it does, in reality it means random volatility stops them out - this is why forex day traders always lose. If you want to understand random volatility you need to learn about standard deviation of price. We don't have time to discuss it fully in this article but we have covered it fully in other articles so look them up.
Place your stop where if it's taken out a lot of other traders will be to i.e its valid support or resistance.
When trailing stops don't be to keen to get them to close once your past breakeven if you are following long term trends keep the stop behind random volatility.
The enemy of all forex traders is volatility - spotting the trend direction most of the time is easy getting in at the best risk reward is difficult. You need to strike a balance your stop must not be to close but close enough!
Trade Breakouts
A good way to trade is to trade breakouts and stop protection is self explanatory behind the breakout point and if you only trade valid breakouts you will have the odds on your side.
Money management is far harder in my view than picking trend direction. I very often get that right, only to see my position stopped out and then reverse and go back the way I thought!
Defend Core Equity at ALL Costs
My own view on money management is to defend my core equity and see everything in relation to how it moves. I risk more when I am doing well and am never afraid to bank money in to keep my equity curve smooth. On placing stops I always make sure there outside of random volatility and in logical places where if I am stopped out a lot of other people will be to.
Forex money management is the key to longer term gains and a trader once said to me (and he's right) If you concentrate on defending what you have above all else the profits will take care of themselves.
Here are some simple tips on money management that will allow you to defend what you have and stay in the game to hit and hold the big profitable trades.
Money Management on Your Overall Account
You should always see the risk you take on a trade in relation to your overall account.
If you have some profit its easier to lose that psychologically than your core equity. If you doing well then increase your bet size - f your not doing so well you decrease it.
It's a fact that poker players make great traders and the reason for this is they know how and when good times to vary their betting style are.
You should not bet the same size all the time forex trading is all about taking calculated risks at the right time and if you have the trading signal and the trade looks right bet as much as you can afford.
If you make a lot of money quickly, don't be afraid to put some money in the bank and liquidate your position or take partial profits.
Monitor your overall equity all the time.
Stop losses
Each and every trade should have a stop loss which is your get out point, should the position go against you. If you assume you are wrong from the start things can only get better!
Understand Random Volatility
When you place a stop you must NOT Place your stop in areas of random volatility.
This is a common mistake traders place their stops close to their entry point thinking it gives them less risk. On paper it does, in reality it means random volatility stops them out - this is why forex day traders always lose. If you want to understand random volatility you need to learn about standard deviation of price. We don't have time to discuss it fully in this article but we have covered it fully in other articles so look them up.
Place your stop where if it's taken out a lot of other traders will be to i.e its valid support or resistance.
When trailing stops don't be to keen to get them to close once your past breakeven if you are following long term trends keep the stop behind random volatility.
The enemy of all forex traders is volatility - spotting the trend direction most of the time is easy getting in at the best risk reward is difficult. You need to strike a balance your stop must not be to close but close enough!
Trade Breakouts
A good way to trade is to trade breakouts and stop protection is self explanatory behind the breakout point and if you only trade valid breakouts you will have the odds on your side.
Money management is far harder in my view than picking trend direction. I very often get that right, only to see my position stopped out and then reverse and go back the way I thought!
Defend Core Equity at ALL Costs
My own view on money management is to defend my core equity and see everything in relation to how it moves. I risk more when I am doing well and am never afraid to bank money in to keep my equity curve smooth. On placing stops I always make sure there outside of random volatility and in logical places where if I am stopped out a lot of other people will be to.
Forex money management is the key to longer term gains and a trader once said to me (and he's right) If you concentrate on defending what you have above all else the profits will take care of themselves.
Means Of Money Management For Kids Through Credit Cards
It's never too soon to talk to kids about money, and as for a card, it's best to start them on one before they leave home, say perhaps when they are a junior or senior in high school. Let me give an example.
Before my daughter left for college, she got a checking account, linked to her parents (of course), and then later a credit card with a very low limit. The idea here was for her to learn to pay for things herself before she got out into the big bad world on her own. I like starting them on these things while they're still under their parents' roof, so they get practice, and when they decide on the $125 jeans, and then realize there isn't enough dough left for lunch and gas money, guess what? They brown bag it to school and take the bus! Or they ride with friends, etc. There's no harm in their experiencing the consequences of overspending while they are with you, and their limit is low.
You can get a card with just a few hundred dollars limit, and then help them pay it off in full and on time every month. This is actually very good because it builds good credit, it gives them practice, and they feel like a big shot! Not only that, they aren't constantly asking you for $20 to cover the pizza fund. Well, probably they are still asking, but at least your child can see how far a finite amount of money goes, and learn to adjust, or not!
Another good practice for them is when they lose a card. Sooner or later they will, and you can show them the process of quickly calling their card company and getting the card canceled. Don't be too judgmental with them at first. They are going to make some interesting decisions, and that is good, because you are there to help out if and when trouble comes.
Another option is having a cash credit card. This is where you personally dump a certain amount of money onto a card, and then when the limit is spent, that is it. Your child doesn't actually have a line of credit anywhere, but the experience is very similar in terms of using the card around town. I know a couple who would add a couple hundred dollars or so every month onto their son's card, and then he was responsible for his expenses that month. I think this is a great idea as a precursor to actually having a credit card. You could do this at 16 years old, and then move up to a credit card afterwards.
Much in the way there is no magic number regarding allowance, there is no magic age for this to begin. It has a lot to do with your child's maturity and impulsiveness. Most kids think it is very cool to have their own card, and they usually can't wait to be in charge of their own money, because they typically believe their parents are holding out on them. There is only one way for them to understand that when the money is gone, and it is only the middle of the month, that they now just have to make do until the next pay period. Trust me. You can preach and holler till you're blue in the face, but not one of us is capable of understanding this until we experience it for ourselves.
One last benefit of them having their own card, is that their expenses are itemized for them, and this is priceless! They will tell you, themselves, their pastor, rabbi and creditor that they "didn't buy anything!", and can't understand why the stupid credit card company is being so mean and actually froze their card because they went over the limit. Ahahahahahhaha. It's so cute to see their little eyes bug out of their heads as they scan the bill and find all their merry little spending sprees spelled out for them, one after another, as they wail "Oh, I forgot all about that one!" The final beauty of this is that you don't have to say a word, since it's all there in black and white.
So always bring money into the conversation with kids, but keep it short and sweet for the most part. A long exegesis is the short way to turning them off, so just make sure they know the basics and that they see you have a good attitude about money. Remember, their emotional intelligence is superior to yours, and they can sniff your fear and loathing a mile away, if that is what you're bringing to money. As Catherine Aird said, "If you can't be a good example, then you'll just have to be a horrible warning." Well, it's never too late to learn, and there's no harm in learning even as you teach your child.
Kids want the independence, but they rely on you to keep them safe as they learn. Check out cardratings.com to find the best cards compared side by side. Remember to get a low limit ~ just a few hundred to start ~ and don't pay an annual fee, and get a low rate.
Before my daughter left for college, she got a checking account, linked to her parents (of course), and then later a credit card with a very low limit. The idea here was for her to learn to pay for things herself before she got out into the big bad world on her own. I like starting them on these things while they're still under their parents' roof, so they get practice, and when they decide on the $125 jeans, and then realize there isn't enough dough left for lunch and gas money, guess what? They brown bag it to school and take the bus! Or they ride with friends, etc. There's no harm in their experiencing the consequences of overspending while they are with you, and their limit is low.
You can get a card with just a few hundred dollars limit, and then help them pay it off in full and on time every month. This is actually very good because it builds good credit, it gives them practice, and they feel like a big shot! Not only that, they aren't constantly asking you for $20 to cover the pizza fund. Well, probably they are still asking, but at least your child can see how far a finite amount of money goes, and learn to adjust, or not!
Another good practice for them is when they lose a card. Sooner or later they will, and you can show them the process of quickly calling their card company and getting the card canceled. Don't be too judgmental with them at first. They are going to make some interesting decisions, and that is good, because you are there to help out if and when trouble comes.
Another option is having a cash credit card. This is where you personally dump a certain amount of money onto a card, and then when the limit is spent, that is it. Your child doesn't actually have a line of credit anywhere, but the experience is very similar in terms of using the card around town. I know a couple who would add a couple hundred dollars or so every month onto their son's card, and then he was responsible for his expenses that month. I think this is a great idea as a precursor to actually having a credit card. You could do this at 16 years old, and then move up to a credit card afterwards.
Much in the way there is no magic number regarding allowance, there is no magic age for this to begin. It has a lot to do with your child's maturity and impulsiveness. Most kids think it is very cool to have their own card, and they usually can't wait to be in charge of their own money, because they typically believe their parents are holding out on them. There is only one way for them to understand that when the money is gone, and it is only the middle of the month, that they now just have to make do until the next pay period. Trust me. You can preach and holler till you're blue in the face, but not one of us is capable of understanding this until we experience it for ourselves.
One last benefit of them having their own card, is that their expenses are itemized for them, and this is priceless! They will tell you, themselves, their pastor, rabbi and creditor that they "didn't buy anything!", and can't understand why the stupid credit card company is being so mean and actually froze their card because they went over the limit. Ahahahahahhaha. It's so cute to see their little eyes bug out of their heads as they scan the bill and find all their merry little spending sprees spelled out for them, one after another, as they wail "Oh, I forgot all about that one!" The final beauty of this is that you don't have to say a word, since it's all there in black and white.
So always bring money into the conversation with kids, but keep it short and sweet for the most part. A long exegesis is the short way to turning them off, so just make sure they know the basics and that they see you have a good attitude about money. Remember, their emotional intelligence is superior to yours, and they can sniff your fear and loathing a mile away, if that is what you're bringing to money. As Catherine Aird said, "If you can't be a good example, then you'll just have to be a horrible warning." Well, it's never too late to learn, and there's no harm in learning even as you teach your child.
Kids want the independence, but they rely on you to keep them safe as they learn. Check out cardratings.com to find the best cards compared side by side. Remember to get a low limit ~ just a few hundred to start ~ and don't pay an annual fee, and get a low rate.
Thursday, February 28, 2008
Simple And Easy Ways To Make Money
The internet is jam packed full of articles that promise easy ways to make money. Every site has a plan that they claim is the absolute best that is out there. Once you end up reading several sights, reality says that the majority of the easy ways to make money most likely are a complete waste of time. In fact, some of the "too good to be true" ideas actually require spending money in order to earn money.
I've actually fallen for some of these so-called "easy ways to make money" schemes. Fortunately, I can say that I've never been so naïve to actually invest much of my hard-earned money, but I've wasted about $50 total. My personal favorite though, was the attempt to take online surveys. Sure, it works if you sit glued to your computer 24 hours a day. Most of the surveys that were sent my way were already filled by the time I'd get to it, and many of them gave me preliminary questions to determine if I was even eligible to take the survey! I barely qualified for any of them. The worst part is that I never saw a single cent. I gave that up within two months.
Mystery shopping was suggested as one of the best "easy ways to make money" that I found. I figured it would be enjoyable and somewhat challenging. I spent $30 to register for a ton of sites that hire secret shoppers. Out of the seemingly millions of sites I registered at, only a few offered me local shops. I know I live in a more rural area, but we have malls and major department stores. Yet, I was only being offered small, low paying assignments. I'm still getting offers for assignments but nothing even remotely appealing has popped out at me.
If you're looking for guaranteed easy ways to make money, look around your house and itemize your own personal interests. If you're looking for ways to make fast money, think simple. Organize a garage sale, get rid of some things on ebay, offer to sell things for friends and family. If you're crafty and able to sell some of your creations, it may be a wonderful way to bring in some extra cash. Try to cash in on some of your hobbies and interests.
Just be warned, most of those guaranteed easy ways to make money are a complete waste of time. There are sites that have done their research and uncovered some scams that you should check into. It seems like every day I see a new magazine with articles on easy ways to make money. They almost always say the same things. There are always new schemes and scams formulating as well. If you're willing to waste a little bit of money, you can find some interesting and easy ways to make money. However, if you need to make money quickly, skip the tiny investments and glance around your house. If you do decide to sign up for one of those guaranteed easy ways to make money, don't invest too much of your own money, and exercise some caution.
I've actually fallen for some of these so-called "easy ways to make money" schemes. Fortunately, I can say that I've never been so naïve to actually invest much of my hard-earned money, but I've wasted about $50 total. My personal favorite though, was the attempt to take online surveys. Sure, it works if you sit glued to your computer 24 hours a day. Most of the surveys that were sent my way were already filled by the time I'd get to it, and many of them gave me preliminary questions to determine if I was even eligible to take the survey! I barely qualified for any of them. The worst part is that I never saw a single cent. I gave that up within two months.
Mystery shopping was suggested as one of the best "easy ways to make money" that I found. I figured it would be enjoyable and somewhat challenging. I spent $30 to register for a ton of sites that hire secret shoppers. Out of the seemingly millions of sites I registered at, only a few offered me local shops. I know I live in a more rural area, but we have malls and major department stores. Yet, I was only being offered small, low paying assignments. I'm still getting offers for assignments but nothing even remotely appealing has popped out at me.
If you're looking for guaranteed easy ways to make money, look around your house and itemize your own personal interests. If you're looking for ways to make fast money, think simple. Organize a garage sale, get rid of some things on ebay, offer to sell things for friends and family. If you're crafty and able to sell some of your creations, it may be a wonderful way to bring in some extra cash. Try to cash in on some of your hobbies and interests.
Just be warned, most of those guaranteed easy ways to make money are a complete waste of time. There are sites that have done their research and uncovered some scams that you should check into. It seems like every day I see a new magazine with articles on easy ways to make money. They almost always say the same things. There are always new schemes and scams formulating as well. If you're willing to waste a little bit of money, you can find some interesting and easy ways to make money. However, if you need to make money quickly, skip the tiny investments and glance around your house. If you do decide to sign up for one of those guaranteed easy ways to make money, don't invest too much of your own money, and exercise some caution.
Importance Of Managing Your Money
One of the biggest challenges adults encounter is learning about money. No matter how much money you may have, you still have to worry about managing your money so that you can save for retirement, college for your children, and any other desire you may have. The good news is that you don’t have to do this on your own. There are many qualified professionals that are trained specifically to help you with managing your money, and making the most of your income, no matter how little or how much you make.
For smaller amounts of money, you may be able to manage your bills and expenses on your own. If you are bad with figures, and tend to forget to pay bills, there are software programs made specifically to help with managing your money. These will often alert you when bills are due, and keep a running tab of your expenses. You can get a clear picture of your financial position this way.
For larger sums of money, you need to be a whiz at budgeting and money management to get the most bang for your buck. If this isn’t your strong suit, then you need help. You can find this help as close as your local bank. You can also find investment firms and consultants in your community that will assess your needs, and help you make the best decisions for managing your money. They may wisely guide you towards investing in stocks and bonds. The stock market can be a tricky place, but if you have someone smart and experienced helping you with managing your money, it’s a good gamble.
If dealing directly with the stock market isn’t for you, there are other ways you can go about managing your money so you have a good nest egg when you retire. You can use a 401k. Most employers help you set this up, and some will match what you contribute each week or each month. An investment company invests this money for you. You can choose high-risk stocks, or go for the safer, lower yielding stocks and bonds. You can also earn interest on your money by putting them in money market accounts at your bank. This is a great way to go about managing your money for retirement or education with little to no risk. These accounts are like savings accounts, but they require a minimum balance. The interest rates on money market accounts are higher than your average savings or checking account.
No matter how you go about managing your money, the important thing is that you look at all your options and make the best decision for you and your family. If you want to save for college, or for your dream vacation, let your advisor know what you want and when you want it. They can then spell out your options for you.
For smaller amounts of money, you may be able to manage your bills and expenses on your own. If you are bad with figures, and tend to forget to pay bills, there are software programs made specifically to help with managing your money. These will often alert you when bills are due, and keep a running tab of your expenses. You can get a clear picture of your financial position this way.
For larger sums of money, you need to be a whiz at budgeting and money management to get the most bang for your buck. If this isn’t your strong suit, then you need help. You can find this help as close as your local bank. You can also find investment firms and consultants in your community that will assess your needs, and help you make the best decisions for managing your money. They may wisely guide you towards investing in stocks and bonds. The stock market can be a tricky place, but if you have someone smart and experienced helping you with managing your money, it’s a good gamble.
If dealing directly with the stock market isn’t for you, there are other ways you can go about managing your money so you have a good nest egg when you retire. You can use a 401k. Most employers help you set this up, and some will match what you contribute each week or each month. An investment company invests this money for you. You can choose high-risk stocks, or go for the safer, lower yielding stocks and bonds. You can also earn interest on your money by putting them in money market accounts at your bank. This is a great way to go about managing your money for retirement or education with little to no risk. These accounts are like savings accounts, but they require a minimum balance. The interest rates on money market accounts are higher than your average savings or checking account.
No matter how you go about managing your money, the important thing is that you look at all your options and make the best decision for you and your family. If you want to save for college, or for your dream vacation, let your advisor know what you want and when you want it. They can then spell out your options for you.
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