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Wednesday, June 15, 2011

Today's Business & Economics Chapter

 
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Business & Investing
Thursday June 16, 2011
Forex Frontiers " The Essentials of Currency Trading"
by Ivan Cavric
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CHAPTER 1: Introducing Forex

1.4 - Early Misconceptions

If you decide to start trading Forex, then you must quickly dispense of any over-optimistic preconceived ideas that you may possess and focus on reality. For instance, if you delve into Forex statistics then you will find that 95% of all Forex novices squander their entire initial equity within a couple of months from startup.

You may also be unnerved to learn that, in practice, less than 5% of all traders even make a living from trading Forex. Con¬sequently, one of your first missions must be to identify methods to help you separate the marketing hype from reality. Basically, you need to discover why Forex is so difficult to trade successfully and why you could be misled into believing otherwise. You must proceed with caution and take your time finding your Forex legs before you throw your hard-earned money into this activity.

For example, you should not get over-impressed by Forex’s gigantic daily turnover. Instead, you should analyze it from a different perspective. As opposed to staring boggled-eyed at the enormous cash amounts, you should make efforts to determine how such massive sums can be generated in the first place. In doing so, you would discover that Forex involves the trading ac¬tivities of a staggering number of global market participants. In addition, some of them are corporations and governments who possess extensive budgets, each of which has its own agenda. These organizations can activate substantial currency move¬ments just by themselves with no prior warning to other Forex participants.

You need also be aware that the massive Forex daily turn¬over can generate the power to produce very intricate and com¬plex trading formations that even the best experts have difficulty predicting. As such, you must realize from the outset that you need to improve your Forex awareness substantially so that you can control the intense power of Forex to a point that you can trade it successfully.

FOREX FRONTIERS: The Essentials of Currency Trading

You must understand that your own fiscal reserves and trading experience may not approach anywhere near those of Forex ex¬perts. Consequently, you need to make efforts to prepare yourself psychologically for the war ahead otherwise you will find yourself the equivalent of a rustic leaf being blown wildly in a hurricane.

Your first task is to survive and preserve your initial equity. You must make all efforts possible to ensure that you do not become one of the 95% statistical failures. You will gain improved prospects of prospering from Forex trading if you do not think of it as a ‘get-rich-quick’ scheme but instead tread it in a more business-like manner.

This book will show you how to achieve this objective. For example, you will learn that Forex experts exhibit a completely different trading psychology from beginners. You will discover how these professionals have enhanced their mindsets so that they are in complete control of their Forex futures. In addition, as you will quickly realize that no other source or individual will pro¬vide you with instant success, you will begin to take measures to ensure that all your educational and training needs are fully met.

Your new book will emphatically demonstrate to you that you can elevate your mindset to that of an expert if you follow its prescribed steps. You will be left under no delusions that you will have to devote sufficient quantities of your own time in order to achieve this task. However, you will be taught that you must re¬gard this commitment as essential to ensure that you will gain the required knowledge and skills to guarantee your Forex success.

Continues...

 
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BookDaily Update
Thursday June 16, 2011

Save My Soul (Preternaturals Book 2)

By Zoe Winters
ISBN: 9780981943633
 

The house on Cranberry Lane breathed and had a soul. Black shutters glared ominously down at Anna, watching her like fresh prey as she regarded it from the front yard with a mixture of fear and fascination.

It was a white two-story monstrosity with plantation-style columns and rocking chairs that beckoned from the expansive front porch. She imagined the porch had hosted many a lemonade drinker as they’d fanned themselves, praying for relief from the sweltering Georgia sun. The generous lawn was shaded by peach trees that lined the drive like sentinels.

A realtor stood before Anna, her hand outstretched, a vision of professionalism in a powder blue suit and gray ...

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Infinite Exposure

By Roland Hughes
ISBN: 9780977086696
 

It's not every morning you wake up with armed men kicking in your door and rushing into your bedroom, but that's certainly how this morning started. All because he really wanted a new computer. Not just a new computer, the best system Dell was shipping. But that want was satisfied over a decade ago. Today, he couldn't even sell that computer on eBay. Today, it was a trip with a bag over his head, wearing handcuffs to an interrogation room.

He had quite a while to think that morning. They left him alone for what seemed like hours. The stone room had no windows and must have been well below ground judging from the chill and dampness. Best not to think about wells, he ...

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Book Blogging Equals More Online Sales

 
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Author Update
Thursday June 16, 2011
 

Book Blogging Equals More Online Sales

Amanda Rooker

The Importance of Book Bloggers to Your Marketing Strategy

Most of us have noticed that the number of book reviews blogs (or book bloggers) has increased over the past several years. At first it seemed that these were just like any other bloggers – their pastime just happened to be reading, instead of surfing or cooking or parenting. But when they have their own convention at BEA, it’s official: book blogging is no longer merely a personal pastime. More than that, book blogging goes beyond any new hyped-up personalized marketing tool. It should be an important part of any thoughtful, authentic book marketing campaign because of three important dynamics that aren’t going away anytime soon:

1. Dramatic increase in online buying. Once upon a time, when we wanted to find something new to read, we’d drive or bike to the local bookstore. We’d browse the displays and the shelves. We’d read book covers and page through books. And then we’d make a mental list of which books we’d like to read. If we were committed enough (or flush with cash), we’d buy it right then. If we were trying to save money, we’d go to the library and possibly put our name on their waiting list if it was a new, popular book. Or we’d ask to borrow it from a friend. Sound quaint? It doesn’t to me, either. It sounds downright luxurious – but virtually impossible (no pun intended). I desperately wish I had time to buy books that way, but most of us don’t. With the ease of online “Buy Now” buttons, all hyperlinked to instant reviews and other books by the author and other things “I might like,” it’s just too easy to get online and buy our books based on the information available there. And with the popularity of e-readers soaring, you can have a sample instantly in hand – for free. For $9.95 or less, you can have the whole book instantly delivered to your reader. No wonder many of us are more likely to look online for our next read – and are particularly influenced by online reviews linked to that book and instantly available.

2. Social networking has become the primary filter for marketing. We’ve always gotten book recommendations from friends. But our definition of “friends” has changed significantly with social networking. Almost everyone can list a handful of “friends” whom they enjoy interacting with online but have never met face-to-face. And now that everyone has an online opinion about almost any topic, the most effective marketing has a personalized social filter, whether we’re buying clothes or hiring an accountant. Books are no different: we get book recommendations from our Facebook friends, our LinkedIn connections’ Reading Lists, and our BookDaily Recommendations. Personal connections are key to our commerce at every level.

3. For independently published books in particular, recommendations from trusted sources are crucial. In addition to their recommendations from friends, readers have also always had trusted (if subjective) recommendations regarding the book’s overall quality, such as the New York Times bestseller list and professional book reviews. Because social networking is the preferred method of marketing these days, it makes sense that readers are looking more to favorite bloggers for personalized recommendations. But where book bloggers’ recommendations are nice to have for traditionally published books, they are absolutely crucial for independently published books. Independent authors can’t afford to underestimate the immense investment in quality control that the traditional publishing houses provide – from their manuscript acceptance process, to their triple-layer of professional editing, to their professional, full-time designers and marketers. If you’re an independently published author, you’ve determined that you can do a better job at developing and producing your book than a traditional publishing house. Whether you’re doing all those steps of book development, editing, and design yourself, or serving as the “independent contractor” for building your book, readers need to see that a trusted source has assessed the quality of your work and can recommend it. Someone reputable has to sign off on it. And book bloggers, people who love books and love sharing great books with their friends, are beginning to step into this huge void of quality control for independently published books as one possible trusted source.

Who are these book bloggers and why should I trust them?

First of all, in the recent past, reputable surveys on customer trust have shown that people trust their peers the most – people most like them. But with the proliferation of online personal opinions, that’s beginning to change. Trust in peers is going down, and trust in experts is going up – apparently we’ve finally realized that quality control and expertise are not as overrated as we thought. So readers will not just be looking for book bloggers demographically “like them,” but book bloggers who have some demonstrable expertise that readers will trust. Authors should be looking for the same.

But book bloggers also prove their trustworthiness in the same way most other bloggers do. They’re passionate enough and committed enough to their topic to share their knowledge online freely. Even if their site includes paid advertisements, their rewards are primarily non-monetary: satisfaction at helping others with similar passions, building social connections with like-minded writers and readers, or just plain service to authors and the industry.

The bottom line? If you’re a traditionally published author, book bloggers are the new trend in personalized marketing, and researching which ones are trusted sources for your audience is well worth your time. But if you’re an independently published author, connecting with reputable book bloggers – or some other trusted source for reader recommendations – will be crucial to your book’s success.

Next post in the series: Quality control: why the first step in marketing with book bloggers has nothing to do with marketing.

About the Author:
Amanda Rooker is an editor, writer, and book designer based in Yorktown, Virginia, specializing in nonfiction book development, independent publishing, and thought leadership marketing. She writes reviews of independently published fiction and narrative nonfiction at Split Seed Review.

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Why Ben Horowitz Thinks Tech Valuations Are Ready To Explode


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Wednesday, June 15, 2011
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Why Ben Horowitz Thinks Tech Valuations Are Ready To Explode

The valuations of internet-based companies have significant room for growth in the next decade, argues venture capitalist Ben Horowitz for the Economist.

To understand why, Horowitz produced the three charts above. As you can see, the "Internet Cycle" is due for a massive explosion in the next ten years based on historical trends. 

He says that major technology cycles generally last 25 years, with the "bulk of the purchases" happening the last 5-10 years as late adopters sign on. Using this as a frame of reference he says we are "poised to hit the major adoption wave for the Internet technology platform over the next 8 years."

This isn't just idle chatter from Horowitz, either. His VC firm Andreessen Horowitz raised almost $1 billion to invest in this next wave. Read »


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