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Posts Tagged ‘automation’

Serial Entrepreneur & Ultravagabond

Timothy Ferriss, author of the 4 Hour Work Week, is a self-described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now.

Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Some people consider Ferriss to be an “Indiana Jones for the digital age”.

This challenging book has been a #1 Wall Street Journal Best Seller, a #1 NY Times Best Seller, and a #1 BusinessWeek Bestseller.

Replace Obsolete Assumptions

His basic premise is that we need to embrace the “Rules of the New Rich” instead of out-dated assumptions that limit our lives.

Home Business owners need to replace limiting assumptions and learn to enjoy life now. We want to be able to manage our businesses, and our lives, from anywhere, anytime.

Ferriss encourages us to abandon deferring a luxurious lifestyle and instead, build the life we want right now, using the currency of freed-up time and increased mobility.

Rules of the New Rich

According to Ferris, the “Rules of the New Rich” include the following:

• Retirement is Worst-Case Scenario Insurance
• Interest and Energy are Cyclical
• Less is Not Laziness
• The Timing Is Never Right
• Ask for Forgiveness, Not Permission
• Emphasize Strengths, Don’t Fix Weaknesses
• Things in Excess Become the Opposite
• Money Alone is Not the Solution
• Relative Income is More Important than Absolute Income
• Distress is Bad, Eustress is Good

The 4HWW Model

His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:

• Live like a millionaire
• Free time and automate income
• Outsource our lives to overseas virtual assistants for $5/hour
• Travel the world without quitting our jobs
• Eliminate 50% of our work in 48 hours
• Trade a long-haul career for short work bursts and mini-retirements

He uses the DEAL acronym to describe his model, where:

• D = Definition
• E = Elimination
• A = Automation
• L = Liberation

He encourages us to use “Dreamlining” to design our own luxurious lifestyles. The principles of elimination, simplification and outsourcing provide the keys to creating our own lives among the New Rich (NR).

The underlying art and science is called Lifestyle Design (LD). Another key component of the lifestyle design process is automation, i.e., creating systems and processes that eliminate ourselves as bottlenecks. But he cautions that we should never automate something that could be eliminated, and we should never delegate something that could be automated or simplified.

Carpe Diem!

Follow Ferriss’ guidelines and you’ll be able to recognize opportunities that others miss, and sieze them. Having choice; i.e., the ability to choose is powerful.

Ferriss’ 4 Hour Workweek book is compelling as proven by its #1 ranking on three different best seller lists.

Our courage and self-confidence, we can realize our dreams quicker and easier than we ever expected.  I plan to implement many of his ideas into my own life.

One great place to start for collecting all the  education about internet marketing that you’ll need to be successful is to enroll in the Online Success for Beginners course.

Timothy Ferriss, author of the 4 Hour Work Week, is a self described “serial entrepreneur and ultravagabond” who lives a lifestyle that most of us could only dream about — until now. His provocative book has been a #1 Wall Street Journal Best Seller, a #1 NY Times Best Seller, and a #1 BusinessWeek Bestseller.

Ferriss presents a step-by-step guide to his free-wheeling lifestyle, allowing us to follow in his footsteps and realize lifelong dreams. Some people consider him to be heroic, like an “Indiana Jones for the digital age”.

The Rules of the New Rich usher power and choice into our lives.

Entrepreneurs need to replace the limiting assumptions that prevent us from enjoying life now. We’d like to be able to manage our businesses, and our lives, from anywhere, anytime.

Value your time and your mobility as you learn to join the ranks of the New Rich (NR). The Lifestyle Design (LD) process is both an art and a science.”

His model provides us with a roadmap for realizing our own lifelong dreams. He shows us how to:

• Live like a millionaire
• Free time and automate income
• Outsource your life to overseas virtual assistants for $5/hour
• Travel the world without quitting your job
• Eliminate 50% of your work in 48 hours
• Trade a long-haul career for short work bursts and mini-retirements

He uses the DEAL acronym to describe his model, where:

• D = Definition
• E = Elimination
• A = Automation
• L = Liberation

According to Ferris, the Rules of the New Rich include the following:

• Retirement is Worst-Case Scenario Insurance
• Interest and Energy are Cyclical
• Less is Not Laziness
• The Timing Is Never Right
• Ask for Forgiveness, Not Permission
• Emphasize Strengths, Don’t Fix Weaknesses
• Things in Excess Become the Opposite
• Money Alone is Not the Solution
• Relative Income is More Important than Absolute Income
• Distress is Bad, Eustress is Good

He encourages us to use “Dreamlining” to design our own luxurious lifestyles. His recommendations rely heavily upon elimination, simplification, and outsourcing to virtual assistants.

Automation is another key component of the Lifestyle Design (LD) process.e., building a system to replace ourselves as bottlenecks. Don’t automate anything that should be eliminated, and don’t delegate anything that should be automated or simplified.

Use this book as a roadmap taking you on a journey to opportunities that others will never see. You’ll come to realize that having choice.e., the ability to choose, is the real power in life.

Our courage and self-confidence, we can realize our dreams quicker and easier than we ever expected.

The 4-Hour Work Week is one of the most compelling and challenging books I’ve read in a long time. I plan to implement many of his ideas into my own life and am presently automating my income using the Infinite Income Plan.

I recommend you check out Ferriss’ book and his website/blog.

This is a great book that I recommend to every entrepreneur. Ferriss provides a detailed roadmap, including extensive lists of resources, in this book and on his website.

Automation is in the world of currency forex online trading truly the lazy mans way of trading the forex. And it’s a very clever thing to do it this way. Why? This way you are able to beat your biggest conqueror, You!

But be careful, after 6 years of FX Online Trading, I’ve been probably through all the pitfalls that this industry has to offer, which was sometimes a very hard lesson to learn. But what if you don’t want to make all these experiences yourself? So what makes the difference between the winners and the loosers?

There are some points that are absolutely key to your success!) with online forex exchange trading or simple, FX. So here they are:

How to become a successfully currency forex online trading expert

The 5 basic rules

1. Never trade with money you can not afford to loose. Never!

2. At no time, you should be invested with more than 3% of your account balance, your Stop/Loss has to secure this. Crucial!

3. You have to begin with demo trading first. One month is an abolute minimum for this (the majority of automated FX.)

4. Only switch to real or live trading after a minimum of one month profitable trading (should be at least 20 trades, the more, the better).

5. After finding a profitable FX Trading Software, always take portions of the newly earned capital out of the account and let the rest accumulate. Take half off your profits out of the account and let the rest grow further.

If you start and follow these simple basic rules, you have a good foundation in place. It’s as simple as that. You can be one of those 5% of profitable traders who make a killing in fx online trading.

How to find a profitable FX Software?

That’s no easy thing to achieve. Normally you have to test dozens of systems to find one that is really profitable. Don’t get me wrong on this one. The majority of system developers will tell you that their system is able to make you very rich, but normally that is more a fantasy than a fact. To tell you the truth in advance, most of the systems will not make you any money. I’ve tested now 89 automated FX online trading systems myself and barely could come to break-even.

The platform most of the automated FX Trading Software Systems use is the MT4 or Metatrader 4 platform. The programs where named Expert Advisors (EA’s). EA’s are simply some piece of Software that tell the MT4 Platform when to trade, which currency pair and how to trade it.

There are thousands of internet sites where you can get related information. But I don’t want to overwhelm you with too much info. That beeing said, I will go straight to the point of interest:

5 Rules to find an automated FX Trading System that really works

1. If an EA is only advertised with “back tests”, it is nothing you should spend your time and money on. The back tests are only an indication for the system creators if their development is heading in the right direction.

2. You have to look for live testing or forward testing results.

3. A live stream with all the transactions/trades should be provided by the person/company.

4. The robot should be easy to use with predefined settings with an integrated update service. And mostly overlooked, because you don’t want to spend more time optimizing the settings then trading for real.

5. And finally: A Money-Back-Guarantee for the Trading Robot.

That’s all there is to it. If you only follow these guidelines, your way to the top of the fx traders is well planned.