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Women Should Consider Forex Trading As a Home-Based Business

Women looking for a way to be able to stay at home and simultaneously contribute to the family income should consider foreign currency trading as one among many home-based business possibilities. This also applies to stay-at-home dads, financially struggling college students, minimum wage workers or anyone else who would like to supplement their income or even create a new full time career.

FOREX trading requires very little startup capital, knowledge that can be acquired from excellent online sources for only a modest investment, a computer and an internet connection. It is one of the easiest businesses for an individual to get started in. Note and caution: in addition to the previously stated items, successful trading also requires intense self-discipline and risk management. It should not be considered a get-rich-quick project, but a source of steady part time (or full time) work with good income potential.

In 1978 the International Monetary Fund mandated the free-floating of currencies. That means that a currency, like the U.S. Dollar, Swiss Frank, or Euro changes in value minute to minute based on the laws of supply and demand. That decision also opened the currency markets to more participants than before. The volume of currency traded each day has grown dramatically, and this is a good thing for small traders who want to take small risks and get in and out of the market fairly fast. In 1977 the daily value of currency traded between banks was about U.S. $5 billion. By 1987 this had grown to U.S. $600 billion, and by the year 2000, it was up to U.S. $ 1.5 trillion.

Eventually corporations joined the banks in trading. This added to the volume and also added to the liquidity of the currency markets. Liquidity is important to keep from getting trapped in a losing position without being able to get out, or riding a nice profitable move and then seeing it disappear while you attempt to get out. The ideal market to trade is one that lets you in quickly and also lets you out quickly.

Now, even individuals can compete on relatively even footing with large central banks. The key is access to online information and online trading services. It may sound risky and complicated at first, but can actually be quite simple if you don’t get greedy and invest the time and money needed to learn the basics.

An advantage of currency trading over trading something like stocks is that currency markets are open almost 24 hours per day, so you can work whatever hours you choose, even the middle of the night. Also important is the fact that you don’t need much money to start. Many brokerage companies will allow you to open an online trading account for only $1000, and most of them will also let you practice for free with simulated trading accounts.

It is very important to learn the basics and also to have a well-practiced plan before you put real money into your new part-time business. Go to the library and read all the books you can find on trading and investing, then take time to surf the internet looking at forex trading courses (if you want to be a profitable trader, you need to invest a little money up front in education in order to avoid learning the ropes the hard way: by losing real money in the market) and selecting a good forex broker.

After you learn everything you can from a good online course and set up a trading account, be sure to trade “on paper” in real time without real money for a month or two to get all the bugs worked out of your strategy before you put real money on the line. Don’t let anyone tell you it is easy, but with hard work and discipline you can enjoy a nice supplemental income by trading.

Home Business Opportunities As a Virtual Assistant

The word ‘virtual assistant’ or the job title therein, is a new name that has developed into a popular business venture in today’s internet based society. As the name signifies, a virtual assistant takes care of a company’s administrative work without taking up any office space at their work environment. In other words, a virtual assistant is someone who works from their own home-office, providing specialized services to companies, taking care of their paper work and submitting them via the world-wide-web. The ‘online revolution’ has turned the role of a virtual assistant into a huge industry, with many companies favoring the duties of a virtual assistant over conventional personal assistants.

What makes the role of a virtual assistant more favorable in the corporate world?

There are many reasons, and the benefits are definitely two sided. The benefits the employer receives include:

o Saves the trouble of hiring permanent staff and allocating office space for them

o Excludes the payment of fringe benefits such as healthcare, insurance, taxes and training

o Save up on equipment investments such as computers, faxes, phones

o Ability to hire them on a temporary basis, for various projects, when and as required

Is one required to have special skills to enter the virtual assistant business?

Where specialized skills in typing, data base management, office management and internet browsing will undoubtedly be advantageous, you can easily venture into the virtual assistant business with basic skills that can be improved through experience. As long as you are self motivated, target driven and have good organizational abilities, all of which doesn’t require special training, you can succeed well as a virtual assistant.

Is it a good field for a work at home mom?

Almost all virtual assistants work from their homes, on their own schedule, on a project delivery basis. This means the opportunities for at-home moms in the industry is huge. If you do not have the time for a day job that requires regular work hours, this is the best option for you. As long as your deliveries are timely, the customer doesn’t care whether you work at night, after all your children have gone to sleep, or if you work alternatively amidst your household chores. All they need is a perfect job that meets their standards and, most importantly, prompt meeting of deadlines.

How to start a virtual assistant business of your own

There are several things to consider before you venture out advertising your services. First decide the type of work you wish to offer. This should be decided based on your skills, abilities and capacity. Investigate the various services required by companies in your area, highlighting your potential target market and devise an advertising campaign based on these requirements. Budget your initial investments, based on your investigations, and set up a business plan on achieving your requirements. Make rough estimates on investment and potential expansions. Once all these prerequisites are complete, you can start looking for clients. This brings you to the most crucial aspect of the business, marketing yourself.

Ideas for marketing your virtual assistant business…

This will mainly depend on your budget and clientele. If you plan to start out big, you can spend extra on advertising, such as newspaper advertisements, yellow pages, banners and flyers. You can also create a website for your business and attract online clients. You can join various networking groups on virtual assistant services and advertise yourself via their websites too. Other, less costly advertising methods include word of mouth, referrals and community notices. First few clients are going to be tough to achieve, but once you get started, and achieve a name for your services, the client flow will definitely improve. And in no time, you will have a profitable virtual assistant business, functioning smoothly, from the comforts of your own home.