Proven Small Business Ideas&Opportunities

Question by kasparov: How much can you make Forex Trading and how much do you risk?
how well the known systems work in Forex trading (carry trade,…) and how much do you risk applying them, and for how long?

Best answer:

Answer by b2fnow
Traditional trading of stocks on margin at 2:1 leverage is considered risky. Forex is leveraged at 100:1 and even 200:1 but few people take the time to understand this and simply focus on potential profits. All beginners focus on all the wrong things like “How much can you make?”

How much do you risk? Beginners risk their entire account and their house every time they put on a trade. How long? minutes. A leveraged position is almost impossible to hold more than an hour by anyone less than an astute trader. Most people don’t have a clue what a trader is or does, but it takes many years to become an astute trader. There are no shortcuts. Most people think that if they work harder and learn more, they will eventually become successful at trading like they would any other conventional “job”; not true. Most very smart, hard-working people lose money trading.

Factoid: 90% of traders lose money, regardless of what they trade.

The carry trade is generally done only by institutions with millions of dollars to invest and need a place to park those millions.

Known systems? You mean that make money consistently? Myth.

Add your own answer in the comments!

by philcampbell

Google Maps and Local Business Listings Cause Locksmiths Problems and Put Homeowners at Risk

When it comes to protecting your home and business security, you want to hire a lock company you can trust. Maybe it’s a local service or maybe it’s the one with the great reputation, either way, more and more consumers are turning towards the internet to find that business.

The trouble is that the information presented to the consumer during their locksmith search is often wrought with false claims, errors, or erroneous information. In fact, the problem has become so prevalent that the Better Business Bureau and the Federal Trade Commission have each released consumer warnings (you can read those reports on our websites Locksmith Knowledge Center).

Let’s look at an example in Phoenix taken on 04/29/09. The following picture illustrates the Local Business Listings results when searching for “Phoenix Locksmith”. Of particular note, consider the first listing under “A”.

At first glance, this looks like a local company and a good one to boot. They have a local number, with 70 customer reviews.  If you click on the name of the company, you will be taken to their website. If you dial the local number (the 480 extension) you will be taken to their call center. However, if you are really observant, you will have notice that the phone number listed far off to the right is an 888 number, and if you click on their reviews, you will see the following:

The reviews are for a local steak house! Please note that I have not used this company and cannot attest to their service. However, it is clear tht the company has exploited a problem in GoogleMaps that allowed them to hijack the steak house reviews.

How’d they do it?

Google maps combines listings with the same address into a single listing. Fraudulent locksmith and lock companies are grabbing the addresses for popular locations (such as hotels and restaurants). Then in Google they create a local listing using that address. Google combines these listings into one and the locksmith company has instant credibility by having a high number of reviews.

Why Does it Work?

1) Many people don’t click to read the reviews. They either follow the link which takes them directly to the company’s website or they call the number shown in the link (the first big bold number, not the little non-local number) without checking the company out.

2) People trust Google. They get a result for Phoenix Locksmith and they assume the “local listings” are really local companies in Phoenix. However, most of the time the address listed is a bogus address. Many companies go as far as to post a phony “physical” shop in hundreds of locations. This way, no matter what city is searched, their listing comes up first.

You may be asking yourself, what’s the harm? Sadly these companies go on to rip off the consumer by overcharging or charging for services that aren’t necessary. Consumers find themselves paying several hundred dollars for jobs that shouldn’t cost more than seventy or so. Furthermore, not only do these companies take current business from real local, mom and pop shops, but they take all of the repeat business too. Who is going to trust a locksmith company after they’ve been ripped off by one?

How to Protect Yourself

There are simple ways you can protect yourself when hiring companies found on Google Maps.

1) Ask the company if they are physically located at the address they list. If you get any answer other than, “yes,” walk away.

2) Check the reviews! These companies want you to click their weblink or call the number they list in big bold text. They don’t want you to check the details of their listing (the address and the reviews). Are the reviews for the actual company? Have they all been written on the same day?

3) Use companies registered with the Better Business Bureau. If they’re not there and they don’t have a good rating, look elsewhere.

4) Specifically for locksmiths, you can goto www.findalocksmith.com for a list of registered locksmiths in good standing with the Associated Locksmiths of America.

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Web hosting customers often ignore the legal fine images in their hosts Legal Notices as published on the website. This prevalent disregard these conditions often leads to disaster, misunderstanding and poor legal dispute between the host and its clients.
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The secret of successful small business ideas is to get started. The secret of getting started is to divide your goal into small easy achievable goals. After that, just start with the first one.

There are so many people who want their own small business, that never even get started. They postpone the first step, “I start tomorrow”, tomorrow never comes. A great part of them do all the necessary research, and then do nothing. There is a syndrome called prepare itis, that holds back many people from realizing their small business ideas. (more…)