Making money outside of work :-)
11 February 2004, 09:04 AM
#61
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imlach - u r right. The spreadbet co's are simply bookies. Either you win or they win!
90% of clients lose in the longterm hence the explosion in the industry.
However you do win significantly they may (depending on how nice they are
):
Make it hard for you to trade, or watch ur trades carefully and hedge.
Doing ok on the FTSE this morning, that +ve open didnt have me fooled
90% of clients lose in the longterm hence the explosion in the industry.
However you do win significantly they may (depending on how nice they are
):Make it hard for you to trade, or watch ur trades carefully and hedge.
Doing ok on the FTSE this morning, that +ve open didnt have me fooled
11 February 2004, 09:04 AM
#62
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[cynical mode ON]
Why is it with ALL these "make money from home" schemes, they never say in public what the scheme is, and you have to email/phone/send money to find out what it is.
Why the secrecy?
[cynical mode OFF]
Edited to add : I guess they don't tell you for 1 of 3 reasons....
1) The method of making money is pretty dull but provides regular income....so saying what it is would not be very marketable, and hence better to keep that air of secrecy on the premise that the desperate will still apply.....
2) It involves recruiting other desperate people to make money and/or involves going round houses knocking on doors selling (thankless task if you come to my door!).
3) It's a scam anyway (ie, pyramid, etc).
Why is it with ALL these "make money from home" schemes, they never say in public what the scheme is, and you have to email/phone/send money to find out what it is.
Why the secrecy?
[cynical mode OFF]
Edited to add : I guess they don't tell you for 1 of 3 reasons....
1) The method of making money is pretty dull but provides regular income....so saying what it is would not be very marketable, and hence better to keep that air of secrecy on the premise that the desperate will still apply.....
2) It involves recruiting other desperate people to make money and/or involves going round houses knocking on doors selling (thankless task if you come to my door!).
3) It's a scam anyway (ie, pyramid, etc).
Last edited by imlach; 11 February 2004 at 09:16 AM.
11 February 2004, 09:15 AM
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Originally Posted by wideboyuk
imlach - u r right. The spreadbet co's are simply bookies. Either you win or they win!
Does IG charge commission?
No. We do not charge commission or any other dealing fees. We make all our profit from our dealing spread. For all our bets the price at which you can 'buy' is slightly higher than the price at which you can 'sell'.
Does IG take all the risk itself?
No. We trade extensively in the underlying markets to hedge bets made by our clients. That is how we ensure our financial situation is protected. It also means that, unlike conventional bookmakers, we are perfectly happy if a client has a big win. We will normally have made slightly more on our hedging transaction than the client has won from us.
No. We do not charge commission or any other dealing fees. We make all our profit from our dealing spread. For all our bets the price at which you can 'buy' is slightly higher than the price at which you can 'sell'.
Does IG take all the risk itself?
No. We trade extensively in the underlying markets to hedge bets made by our clients. That is how we ensure our financial situation is protected. It also means that, unlike conventional bookmakers, we are perfectly happy if a client has a big win. We will normally have made slightly more on our hedging transaction than the client has won from us.
Last edited by ProperCharlie; 11 February 2004 at 09:16 AM.
11 February 2004, 09:24 AM
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Yes they tell a good story don't they
They want Joe public to think that they aren't a bookmaker and win or loss they are ur friend. They are ok but believe me if u start to win big time consistantly they will watch ur account.
I know people who have effectively been taken off internet trading by being offered sloooooooow quotes and they need to revert to phone trading simply because they win too much (not me unfortunately)
The only time u need worry is if u make BIG amounts - but then theres always other co's to deal with
They want Joe public to think that they aren't a bookmaker and win or loss they are ur friend. They are ok but believe me if u start to win big time consistantly they will watch ur account.
I know people who have effectively been taken off internet trading by being offered sloooooooow quotes and they need to revert to phone trading simply because they win too much (not me unfortunately)
The only time u need worry is if u make BIG amounts - but then theres always other co's to deal with
11 February 2004, 09:24 AM
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Imlach
I fully understand your cynicism (sp?). As an ex-auditor I have developed cynicism into an art form That was one of the issues that irritated me the most and it was the first question I asked "Why don't you simply put all the details out in the open up front!!?"
The simple answer it that the "teaser" method seems to work better. You need people that have a certain amount of initiative and a desire to find out more. If it is all laid out in front of you, people either dismiss it as not for them or they enter it half heartedly. A lot of people have negative perceptions and this prevents them from taking the initial steps. I was at a meeting in Bristol last night and the highest earner in our group had turned down the opportunity 3 times over an 18 month period. Eventuyally he took the plunge and now wished he had done it sooner.
The only thing that really matters with these home based businesses is your frame of mind. If you truely believe you can make it work you will put in the effort and be a success. Unfortunately, I had someone resign last week as he expected instant rewards without the hard work. Sorry to disappoint, but that is just not possible in any legal business opportunity that I know of.
You definately do NOT need to send any money at all. I will stand the risk of sending anyone a video and trusting them to return it to me if they are not interested. Never trust any scheme that asks for money up front. Genuine opportunities do not do this.
It is said that the key to success is being in the right place at the right time. Unfortunately you also have to realise that it is the right time. It is no good looking back in five years from now and realising that today was the right time!
I fully understand your cynicism (sp?). As an ex-auditor I have developed cynicism into an art form
That was one of the issues that irritated me the most and it was the first question I asked "Why don't you simply put all the details out in the open up front!!?"The simple answer it that the "teaser" method seems to work better. You need people that have a certain amount of initiative and a desire to find out more. If it is all laid out in front of you, people either dismiss it as not for them or they enter it half heartedly. A lot of people have negative perceptions and this prevents them from taking the initial steps. I was at a meeting in Bristol last night and the highest earner in our group had turned down the opportunity 3 times over an 18 month period. Eventuyally he took the plunge and now wished he had done it sooner.
The only thing that really matters with these home based businesses is your frame of mind. If you truely believe you can make it work you will put in the effort and be a success. Unfortunately, I had someone resign last week as he expected instant rewards without the hard work. Sorry to disappoint, but that is just not possible in any legal business opportunity that I know of.
You definately do NOT need to send any money at all. I will stand the risk of sending anyone a video and trusting them to return it to me if they are not interested. Never trust any scheme that asks for money up front. Genuine opportunities do not do this.
It is said that the key to success is being in the right place at the right time. Unfortunately you also have to realise that it is the right time. It is no good looking back in five years from now and realising that today was the right time!
11 February 2004, 09:40 AM
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imlach
Reason no.1 is the closest but still wrong Nothing desperate about any of the people I know. You should have seen the car park at the golf club last night for the regional meeting. Lots of genuine petrol heads there all keen to earn extra income to fund an excellent lifestyle.
Sometimes the ways to build income are not the most exciting initially but getting the ever increasing monthly bonuses is certainly exciting.
Reason no.2 and 3 are simply illegal. The standard wealth warning is "It is illegal for a promoter or a participant in a trading scheme to pursuade anyone to make a payment by promising benefits from getting others to join a scheme. Do not be misled by claims that high earnings are easily achieved."
I would love to see someone obtain a reliable residual income from spread betting (unless you are a bookmaker ).
Signing off now as I've got to go out into the cold and deliver a few videos to people that are keen to join the opportunity.
Reason no.1 is the closest but still wrong
Nothing desperate about any of the people I know. You should have seen the car park at the golf club last night for the regional meeting. Lots of genuine petrol heads there all keen to earn extra income to fund an excellent lifestyle.Sometimes the ways to build income are not the most exciting initially but getting the ever increasing monthly bonuses is certainly exciting.
Reason no.2 and 3 are simply illegal. The standard wealth warning is "It is illegal for a promoter or a participant in a trading scheme to pursuade anyone to make a payment by promising benefits from getting others to join a scheme. Do not be misled by claims that high earnings are easily achieved."
I would love to see someone obtain a reliable residual income from spread betting (unless you are a bookmaker
).Signing off now as I've got to go out into the cold and deliver a few videos to people that are keen to join the opportunity.
11 February 2004, 09:55 AM
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Crapaud - 1 further question - are you making money from recruiting other people and/or making a cut off any people's earnings that you recruit?
Otherwise, why would you be so keen to recruit?
Otherwise, why would you be so keen to recruit?
11 February 2004, 09:56 AM
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Originally Posted by imlach
Do you know anyone taken off IG for winning too much?
I play the odd binary (8-9am FTSE and 2.30pm-3.30pm DOW) are VERY volatile hence easy to pick off winnings.......
I play the odd binary (8-9am FTSE and 2.30pm-3.30pm DOW) are VERY volatile hence easy to pick off winnings.......
11 February 2004, 10:30 AM
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lol.
Yes I have used IG for years and recently Binarybets, no real complaints at all.
Just waiting for FTSE to be down 10-20pts at 12 for a nice return
Yes I have used IG for years and recently Binarybets, no real complaints at all.
Just waiting for FTSE to be down 10-20pts at 12 for a nice return
11 February 2004, 10:31 AM
#75
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Crapaud62
please could you send me some info as per my profile. I know you said for any of us to email you but I don't have access to external email at work and cant use my work email for this sort of stuff.
Cheers
please could you send me some info as per my profile. I know you said for any of us to email you but I don't have access to external email at work and cant use my work email for this sort of stuff.
Cheers
Last edited by Bravo2zero_sps; 11 February 2004 at 10:32 AM.
11 February 2004, 10:39 AM
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11 February 2004, 10:56 AM
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Originally Posted by jlanng
wideboyuk: are you wideboy on www.trade2win.co.uk?
11 February 2004, 11:23 AM
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agree totally imlach, its funny how there are hundreds of websites all setup along the lines of www.serious2ndincome.com or www.wealthbuilder.com (just made those up but they probably exist) and *without* exception they dont *actually* tell you what the business is or who the company. In every instance the business is multi-level marketing, thats not to say its a con but it has always had a bad reputation and this approach doesnt do anything to improve it.
crapaud, im not knocking what you are Richard are involved in, people can and do make money from MLM, in fact I think one of its biggest weaknesses is because of the low barrier to entry people dont treat it seriously enough, or spend enough time on it and wonder why they fail, as the stats suggest somewhere around 90/95% of all people who get involved do.
I was involved in a couple of MLM schemes in the early nineties, one worked really well for me until they decided to just close the UK operation and that was that. That then made me realise then that its not actually 'your' business so things can happen which are out of your control. For a company MLM is an excellent way to shift large volumes of product, because I will lay money on the fact you have a monthly commitment to buy x amount of stock from the company. Typically MLM companies provide very high quality products but they are excessively priced because commissions have to be paid up x levels. And of course as mentioned you have to 'cajoule' friends and family to sign up or buy product which many people are uncomfortable with. I remember being invited round a work colleagues house in the late eighties for what I thought was a social drink, turned up and bang there was a full scale amway presentation being made in their living room flip chart and all!
Good luck guys!
Gary
crapaud, im not knocking what you are Richard are involved in, people can and do make money from MLM, in fact I think one of its biggest weaknesses is because of the low barrier to entry people dont treat it seriously enough, or spend enough time on it and wonder why they fail, as the stats suggest somewhere around 90/95% of all people who get involved do.
I was involved in a couple of MLM schemes in the early nineties, one worked really well for me until they decided to just close the UK operation and that was that. That then made me realise then that its not actually 'your' business so things can happen which are out of your control. For a company MLM is an excellent way to shift large volumes of product, because I will lay money on the fact you have a monthly commitment to buy x amount of stock from the company. Typically MLM companies provide very high quality products but they are excessively priced because commissions have to be paid up x levels. And of course as mentioned you have to 'cajoule' friends and family to sign up or buy product which many people are uncomfortable with. I remember being invited round a work colleagues house in the late eighties for what I thought was a social drink, turned up and bang there was a full scale amway presentation being made in their living room flip chart and all!
Good luck guys!
Gary
11 February 2004, 11:38 AM
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The guys here are right - if it is a genuine opportunity then you will not be asked for money upfornt.
There are literally thousands of MLM schemes out there, and schemes such as jlanng is suggesting where u can buy a 'How to get rich' book for a special offer price of just $99
People are daft enough to fall for it hence there are so many Get Rich Quick schemes.
Utter pants - AVOID at all costs.
BTW No offence to Richard. His opportunity is to sell real items so is a 'real' business venture.
There are literally thousands of MLM schemes out there, and schemes such as jlanng is suggesting where u can buy a 'How to get rich' book for a special offer price of just $99
People are daft enough to fall for it hence there are so many Get Rich Quick schemes.
Utter pants - AVOID at all costs.
BTW No offence to Richard. His opportunity is to sell real items so is a 'real' business venture.
? 
11 February 2004, 12:05 PM
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I think there are lots of hang ups about MLM or Network Marketing based mainly on the fact that firstly, as Gary says, people don't take it seriously enough as a business and secondly there are a lot of shady business out there. MLM gets lumped in with pyramid schemes (Pay 5K and eventually when X people have given 5K you get a million.....
), financing schemes and other shady ventures so like anything even good businesses get tarred with the same brush! If you go into any business without doing your due diligence and if you don't expect to do anything yourself you just will not succeed.
I was extremely sceptical when I first joined Mannatech (I don't mind saying who I am with) both from a product point of view and then from a business point of view. What changed that perception? Well taking the products which are both unique and proprietary has given numerous health benefits to my family and I and when I looked at the business and compensation plan, although it was quite complex it was so for a reason - to be fair and really deliver benefits to product users and business people alike. Also as it was very team focused your not taking cuts from people but rather helping them to achieve success themselves. Also I ran credit reports, checked share prices etc and did some research into the leadership team.
Being cynical is ok, being arrogant is not and there is a fine line between them. I am glad that people have posted up alternative views because it forces people to evaluate what they are doing rather than jumping in feet first because they might make a quick buck.
If people are interested I am more than happy to help them, yes I will benefit but only in proportion to their success and they can also out perform me if particularly motivated - can't just ride on their success.....
Best of luck to everyone
Richard
), financing schemes and other shady ventures so like anything even good businesses get tarred with the same brush! If you go into any business without doing your due diligence and if you don't expect to do anything yourself you just will not succeed.I was extremely sceptical when I first joined Mannatech (I don't mind saying who I am with) both from a product point of view and then from a business point of view. What changed that perception? Well taking the products which are both unique and proprietary has given numerous health benefits to my family and I and when I looked at the business and compensation plan, although it was quite complex it was so for a reason - to be fair and really deliver benefits to product users and business people alike. Also as it was very team focused your not taking cuts from people but rather helping them to achieve success themselves. Also I ran credit reports, checked share prices etc and did some research into the leadership team.
Being cynical is ok, being arrogant is not and there is a fine line between them. I am glad that people have posted up alternative views because it forces people to evaluate what they are doing rather than jumping in feet first because they might make a quick buck.
If people are interested I am more than happy to help them, yes I will benefit but only in proportion to their success and they can also out perform me if particularly motivated - can't just ride on their success.....
Best of luck to everyone
Richard
11 February 2004, 12:14 PM
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As a home based business you do need to register as self employed and therefore have to do a tax return. However as a home based business you can write off expenses against earnings e.g. use of your car, home, computers etc. Due to the nature of my business the products I order on a monthly basis are also tax deductable as to have credibility you need to take the products. So although there is a small regular monthly amount you have to purchase - its tax deducatable.
I'm in the process of going through this now, but will obviously share info I find out with the people I am involved with..
Cheers
Richard
I'm in the process of going through this now, but will obviously share info I find out with the people I am involved with..
Cheers
Richard