MoneyBull

After my somewhat negative Forex Signals reviews, here is a positive one about a broker I like: FxOpen.

Website: FxOpen
Tried for: 8 months, and still using it.
Minimum deposit: $25
Payments accepted: E-Gold, Webmoney, E-Bullion, Liberty Reserve, CashU, Local deposit
Platform: MetaTrader
Swap? Yes, with the choice of not having swap too.
CFTC/NFA Regulated? No.
Fixed spread? Yes.

Ratings

Trading environment: out of 8 (6/8)
News trading: out of 8 (6/8)
Easy to use: out of 8 (7/8)
Support: out of 8 (7/8)
Overall: out of 8 (6.5/8)

Review: My experience with FxOpen goes back since July. It was the one of the only broker accepting E-Gold after Marketiva (review coming soon) stopped.

Trading with FxOpen is smooth and easy. They offer fixed spreads which is very nice and convenient. News trader will be amazed by how easy it is to trade the news with this platform. If the price moves 50 pips in one second, your order will always be triggered when and where you wanted it to be.

They use the Metatrader platform, which most people like (I do). It is very easy to use and allows you add any kind of indicators you want. They also support using EA.

Deposits and withdrawals are also made very quickly (only tried with E-Gold) and everything is processed in their “Cabinet” section.

Their support couldn’t be better. They answer their e-mails normally in about 24 to 48 hours, and offer a forum where you can get an ever quicker answer.

There has been a controversy with FxOpen. You can read about it there: FxOpen.info. This website claims that FxOpen stole their money. FxOpen has blocked or deleted any threads in their forums that was referring to this website, even those who were just asking questions and FxOpen’s management claims that this website has been made by an angry ex-business parter.

The other thing that bothers me a bit is that they are not regulated by any association.

In overall, the trading conditions and the incredible support offered by FxOpen make them a company of choice, especially for news traders. On the other hand, I wouldn’t feel comfortable putting too much money with them.

Here is my second Forex Signals review: TopForexReview .

Website: TopForexReview
Tried for: About 50 days
Price: Free
Overall result: -$900 (Amount I risked: $1000)

Ratings

Profitability: out of 8
Honesty: out of 8
Easy to use: out of 8
Support: out of 8

Review: Cindy from TopForexReview.com claims to be professional trader since 3 years. Here is the truth:

I tried Cindy’s signals for about a month and a half. Cindy’s trading style is “Swing trading”. She keeps positions for a long period of time and doesn’t open too many trades at the same time. She always uses 10% or less of her margin. Cindy mostly trades at the beginning or during the New York session which was convenient for me. The bad side of it is that you constantly have to check your e-mails. I followed Cindy’s rules exactly without exception during my test. My experience started at the beginning of the summer.

Cindy began by keeping some GBP/JPY Long positions. She was also selling the USD/CAD. After a few weeks, as you may all be aware, during the summer, the GBP/JPY crashed really bad. Every analysts were saying to sell and take your losses but Cindy kept her position. Then the GBP/JPY crashed harder. Cindy advised not to take our losses yet and even took a 6% margin Long (BUY) EUR/JPY trade! I then began to be suspicious of her so-called “experience” because every Forex trader knows that sometimes you have to take a loss when it becomes too dangerous.

In short, she kept her Long (BUY) positions of GBP/JPY and EUR/JPY despite the crash that happened and all the analysts comments. This is when I got a margin call and my $1000 became $100 in less than a month.

Cindy doesn’t know when to take a loss and acts like a margin call is nothing special. She said that these things happen and that she will be more profitable in the future. If you want to make money in the Forex market, please stay away from Cindy’s signals and TopForexReview.

I’m going to start my first Forex Signals Review by reviewing a very popular website: Winning-Solution.

Website: Winning-Solution
Tried for: 5 months.
Price: At the time, $150. Now: $199.
Overall result: -$200 (Amount I risked: $500)

Ratings

Profitability: out of 8
Honesty: out of 8
Easy to use: out of 8
Support: out of 8

Review: Winning-Solution uses a simple technique that involves trading 20 points around the Pivot Point. The targets are mostly set by support and resistance levels but WSS uses its own calculation for these Targets. I started testing Winning-Solution in the beginning of the summer. At the time, they required me to wake up at 2 A.M. for every trades. Despite this obstacle, the results were very good. Mr. Ashar (the owner) requires you to go into the forum every day to check the trades.

I made about $400 on my first few months. After these first few months, the results started going down very fast. I lost about $600 in the last months.

Also, he frequently changes the target at the last minute, making it impossible for those that can’t stay awake at this time to have the same results as him. The results are also not very honest. I have seen a lot of time Mr. Ashar saying that he closed his trades early (in his advantage, of course) without advising any members of this decision. Only the negative results (those that Mr. Ashar can’t fake) are honest. When you look at the performance on their website, you should subtract about 150-200 pips from the monthly results to get the real results.

Lately, Mr. Ashar has changed his technique (something he does A LOT, he changed it about 5 times in the 5 months I have been a member) so that he uses Bollinger Bands to confirm his signals. This, again, makes it impossible to follow for those that sleeps at the time he trades (He lives in Indonesia, so for those in North America it’s at 2 A.M. until 1 P.M.). This is when I asked for a refund, because I couldn’t follow his signal. I had to request it over Paypal, but he sent it to me promptly.

In case you want to use his Expert Advisor, beware. I’ve tried it a few times and half of the time there were major bugs (not opening trades, opening 10 trades instead of one). I wouldn’t risk my money with this automated tool.

In overall, I do not suggest subscribing to Winning-Solution, unless you can stay in front of your computer all day and night. The results are dishonest, and the only good thing is the Support.

This article can be applied to both online marketing or any job involving selling products. Please note that I am not an expert and that these tips are based only on personal experience.

I started a job recently selling cellphones. Christmas time and holidays in general are the best times to sell products efficiently. I have only been there about a month and I’m already one of their top salesman. How did I achieve that? Here are a few tips:

1- Listen to the customer: Be sure to know what the customer wants and what the customer could need. It is very important to let the customer explains to you what they are looking for. While some people will come to your website or your store knowing exactly what they want, I have found that this is true to only about 5% of the sales.

2- Spot what the customer could need: This is related to my first tip. While you listen to what the customer wants, also try to spot what the customer could need and try to sell it while you are doing the transaction. Most of the time, it is easy to create needs in a customer.

3- Sell what makes you the most commission or money: Most of the time, you can sell products that the customer didn’t have in mind when he first entered your website or your store. These products that you are trying to sell should be those that makes you the most commission or money. Insist on why the customer NEEDS this product and of course, if there are specials on these products, take advantage of that.

4- The hidden fees: Working with cellphones also involve having to talk to the customers about the hidden fees (activation fees, payment fees). What I suggest in this case is talk about it at the last minute, like when they sign a contract. They will feel obligated to accept the fees since you took your time to do the sale with them. I have tried talking about it at the beginning and found that I lost about 10% of my sales while doing that. When I talked about it at the end, I have only lost less than 1% of my sales, and in overall, it is really worth it. Only do that if you can cancel the transaction at the end, not to take any chances. I highly suggest never trying to hide the hidden fees from the customer because that will lead to a bad relationship with them and eventual refunds or returns.

5- Take your time: This tip is also linked to the #1 tip. While you should listen to the customer, you should also take your time to explain everything they want to know. The customers will then feel like they are in an honest relationship with the salesperson. Even if it takes 30 minutes to explain everything, be sure that the customer will like you and come back eventually to buy other products from you.

6- Personal experience: The customers will love when you say that you personally tried something that they are about to buy because they can have a positive review right at the start. If you have not tried the product, insist that every customers have been happy with this product and that you have never seen or seen very low returns on this particular product.

7- Focus: Is it your first website? Or are you new to the job in sales you are doing right now? Here is a tip: Try to focus on (a) particular product(s). Try to learn as much as possible on this or these product(s) and sell it to the customers. You can eventually extend your knowledge and sell other products, but I have found that you achieve much better results selling the same products that you know about than selling different products that you know very little about.

8- Customer loyalty: An important aspect of sales is to make the customer come back to you after their purchase to buy other products. Try to give a business card if you have one or try to be different than your coworkers (or than the other websites) so that the customer will want to come back to you. A simple sentence like: “When you come back, ask for [your name] and I’ll be glad to help you.” can make a big difference on customer’s loyalty.

I wish you all Merry Christmas and a lot of profits on the Holidays.

Dear readers,

I am truly sorry for the lack of updates in the last few months. As you may know, I have moved out recently from Quebec to Fredericton, NB. I have moved again last week in another place in Fredericton too, and I have a new job in Retail Sales for an electronic store. I have been quite busy in the last few weeks since it is a big (but positive) change for me.

Again, I apologize and I promise you that a lot of new articles will be available within the next few weeks.

Ben

As of October 8th, PsykoZone becomes MoneyBull. Same design, but a different perspective. The new website will focus a lot more on REAL making-money online opportunities. This include Online Investments, Forex Trading, Making money with your website, and many more.

I will now present you the sections of the new website:

E-Currencies: Everything related to E-Currencies and money transfer services. Reviews, news and latest changes about these services. Also includes reviews and information about e-currencies exchangers.

Forex Trading: Brokers: Latest news, reviews, information about Forex Brokers (2 reviews coming soon).

Old Performance: I will put all my old trades here, in case you wanted to check them out.

Signals: Forex signals can be useful for beginners and for experienced traders, to diversify your strategies portfolio and to give a general direction of what to trade. This section will include reviews and information about signals services (3 reviews coming soon).

Strategies: Here I will share technical, mechanical and fundamental strategies to trade on the Forex market that I have used and that are proven effective.

Freebies: Products and services: Free products and services. Who doesn’t like free stuff?

Softwares: Free softwares: Freewares and open-source softwares.

General News: MoneyBull: Any news involving the website. Downtimes, polls, changes…

Personal: Anything involving my personal life.

Online Investments: General: General online investments news and other websites that talk about Online Investments will be put here.

High Risk - HYIPs: The good old HYIPs. I will try to put HYIPs that have at least a certain amount of documentation and due diligence done. No obvious Ponzis or games will be on the website, ever.

Medium Risk - Managed Accounts & Opportunities: This section will contain Forex or other kinds of Managed Accounts and other documented opportunities, that will generally require a contract signed by the two parties. No fly-by-night programs here.

Low Risk - Banks: This section will contain online banks that are insured, GICs, CDs (Certificate of Deposit) and mutual funds and other safe investments.

Webmasters: Whether you are a webmaster, or want to become one, this section is for you.

Make Money: How to make money with your website… banners, affiliate programs, CPM offers…

Traffic: Having traffic on your website is crucial, and here I will explain some ways how to get more traffic.

So that’s all for the different categories. I will add more as I write articles.

Also, you may have noticed that my Videos section is gone. I want to focus this website only on making money opportunities, but if you want to check out the videos, I will put them on the old PsykoZone (which should be revamped in December 2007).

You may also have noticed that I have removed the Forex section. I decided instead to replace it by various articles that will approach the main subjects: Brokers, Strategies (including Technical Analysis), Signals, How-to’s, Tools and Links.

Finally, I want to express my gratitude for those who have followed me, either from the beginning of my journey or recently. My goal has always been to help my readers make money on the Internet. I don’t do it selfishly like some other webmasters that only advertise programs to get referrals. I am and have always been against that practice.

I hope that you will enjoy the new website, and don’t hesitate to post your comments or to contact me.

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