All these online money making ideas

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Permalink Reply by evenmada on September 21, 2008 at 0:56

Thank you again milo. I will study all these in the mean time and save some $$$ to start.

Best regards to you

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Permalink Reply by evenmada on September 21, 2008 at 11:42

Hello again milo. Have you got 1 that you are currently doing as an example for me :)

What info did you get from 21st century academy? I got a CD before and ever since then I received lots and lots of stuff in the mail with big fees to learn :(

Am getting the Free DVD from mycoveredcalls.com.au.

Thank you!

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Permalink Reply by Mike Robinson on September 25, 2008 at 3:04

Those schemes make more money for the promoters than they do for the operators. If it wasn't so, the promoters wouldn't let you in on their secrets of success, would they?

Is Warren Buffet selling his wealth making secrets on the Internet? You bet he isn't.

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Permalink Reply by AJ on March 1, 2010 at 18:49

In fact you can buy a series of books revealing Buffetts strategy. The ones I prefer are any authored by Mary Buffett but there are others as well

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Permalink Reply by Mike Robinson on September 25, 2008 at 3:11

Stay away from CFDs. They're banned in the US, where just about anything goes. They started in the UK, and it's the same company there that's promoting them out here.

You might just as well spend a night in the casino as play the Contract For Differences game.

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Permalink Reply by Mike Robinson on September 25, 2008 at 3:28

There's no guaranteed way to get rich quick. You can get rich quicker than most other people, but you need a good idea to start with, and you'll need some seed capital.

The good idea doesn't have to be all that smart, look at Facebook for instance, but it has to be an original idea that nobody else has used. Copying other people's ideas won't work, and that's what you'd be doing by paying money to buy business knowledge on e-Bay.

Who has more money? The guy who started Jim's Mowing or the guys who bought a franchise from Jim's Mowing? Jim worked out how to make money out of mowing lawns, then he sold his knowledge to other people less smart than he is. They're making money, but Jim is making real big money. They're mowing lawns, Jim isn't. Who is smarter? If you said 'Jim' you're getting the message.

Even if you have a good idea you'll need seed capital. It doesn't have to be a lot of money. Once your idea takes off you can get more capital from investors to make the business grow.

I started a company in the UK with $4,000 seed capital that was eventually sold for $1billion. It took 20 years to get to be worth $1billion, and I sold out years before that happened. But it demonstrates what's possible.

Good luck with whatever you come up with.

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Permalink Reply by evenmada on September 25, 2008 at 16:12

Thank you for the true wisdom there Mike. Strongly agree!

We are not in a position to raise any funds right this minute that is why we are selling what we could. However, that doesn't mean we will not get anything soon. But with litigations who knows when......in the mean time if we could get as much info and learn as much as we possibly can absorb, hopefully it will make it easier.

I would much rather be Jim than "Mowing" ^_^ but I much rather starting something with $4k and turn it into $1 Billion though.

Cheers

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Permalink Reply by El Dee on September 25, 2008 at 15:31

I know someone who reads tarot fortunes on one of those 1900 numbers - $5 per minute!!

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Permalink Reply by evenmada on October 1, 2008 at 20:08

Thanks Marie. I love to but.....

Hopefully I can clear all litigations by mid next year and things might look a bit more brighter then. In the mean time, tighten my belt and learn as much as I can FREE or share with friends :)

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Permalink Reply by Tim Wilson on October 4, 2008 at 11:33

Hey Even, I'm a new addition to the MoneyConfessions but have been subscribed to FatCat for a while and saw your post in the email.
I read through your question and people's posts and I have been through all these things you have except I'm only 18.
I'm a Trading International member which is the education company which involves E-Mini's which you mentioned in an earlier post. I'm soon to be beginning Live Trading (you do what's called Simulation Trading or Paper Trading for period of time - essentially Fake Trading) and so far the support and education has been nothing less than superb.

They have all those introduction workshops which tell you how easy and how much potential there is, hyping it up as they must, just as any other company does marketing. In reality, I feel the ROI potential is closer to 20 to 30% p/month, depending on your Trading Capital. Its not easy, its simple. Effort must be done to learn the system and to be consistent, yet its very simple compared to options and CFD's, which become increasingly complicated, and yet E-Mini's have a better potential for return.

I may be young, but don't count me out from what I'm telling you. Feel free to message me if you'd like to know more or ask questions.

Cheers, Tim.

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Permalink Reply by evenmada on October 4, 2008 at 22:33

Hi Tim,
I have actually been thru a couple of the live online seminars with them. I totally agree with all you mentioned above. I would have done what you are doing now if I had the funding. I know they have the loan option I could take but I am not in a position to do even that. You need to spend some time learning it first and pay the loan interest in the mean time which is a bit of a problem right now.

I truly believe you will do well with it if you be discipline. I am just putting off for the time being until I am ready.

Good luck with your trading!

Cheers!

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Permalink Reply by milo on October 4, 2008 at 22:52

Beware of E-Minis & CFD'S, yes both offer huge returns but they are a double edged sword, not for the novice trader...More conservative strategies like covered calls with puts for insurance means you know what you're gonna get straight up & limit your risk to a very small amount, even with 4 in 5 odds in your favour. CFD's have on a 1 in 3 chance of winning and even with stop losses you can lose all your margin in 1 go, or if the stock gaps down you can lose more than you started with, believe me I've been there! No I only use strategies that have the odds in my favour. Remember with CFD's, for every 10% the market falls you lose 100%! of course this works in the positive too, and well experienced traders do well from it. But you must master the market first.

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