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Posts Tagged ‘Challenge’

Self motivation is a challenge for anyone who is self employed. But it's a particularly tricky challenge for those in the creative industries. Why would that be? Well creative types, quite sensibly and obviously, often become self employed in order to be able to be creative and flexible in their work. Not for them the drudgery of a nine to five office job with a soulless boss!

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Learning everything there is to know about online marketing is not easy without practical application of these theoretical concepts. Such is the objective behind The Google Online Marketing Challenge. This competition, which is open to undergraduate and graduate students only, aims to teach participants how to achieve effective online marketing through meticulous marketing analysis.

Competition mechanics

The Google Online Marketing Challenge essentially requires participants to optimize, manage, and update their own Google AdWords campaign. Participants are given $200 to spend on a Google AdWords online advertising campaign for the website of a particular small-to-medium business that they choose to partner with. During the competition’s three-week duration, the teams optimize their campaigns as they see fit. Two reports, one detailing the initial campaign plans and one indicating how the campaign ended, are submitted as output.

The Challenge is open to students from any higher education institutions. Student teams can have their professors serve as advisers for the contest. Professors using the competition as a supplementary class activity are expected to use sufficient class time to cover essential online marketing concepts and introduce Google AdWords technology.

What is Google AdWords?

When Google search results relevant to the user’s query are displayed, relevant AdWords are displayed on the page as well. These ads are separated from the search results and are labeled as “Sponsored Links.” These ads can be seen on the top and the right side of the Google search results page.

AdWords is a great online marketing strategy. Advertisers are challenged to design their own ads for their business using keywords that they feel users will commonly search for. AdWords makes online marketing easier for advertisers, as they only have to supply keywords to promote their businesses and product or service offerings.

Judging criteria

Teams are judged based on five different criteria for their AdWords Campaign. The five criteria are as follows: account structure, optimization techniques, account and activity reporting, performance and budget, and lastly, relevance. Using these criteria, teams are divided into 7 categories based on how they and their ads fared under the deliberation of the panel of judges.

AdWords tips

Designing effective AdWords campaigns may initially seem like an easy task. However, it requires more than just writing a good ad campaign for AdWords to be of any significance. This is because in the world of online marketing, different strategies must be employed to be able design effective ads.

One useful technique in designing an AdWords campaign is using keywords that will potentially match users’ phrases exactly. The more an ad’s keywords match the phrase searched by Internet users, the more likely the particular ad will be a top Sponsored Link.

A great hands-on experience for students

The Google Online Marketing Challenge provides students with a great opportunity to acquire real world online marketing experience. The Challenge is a great venue for students to apply theoretical concepts learned in class. Additionally, it is a great way for students to possibly help local businesses improve their marketing effectiveness.

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Product Description
International Business: The Challenge of Global Competition, 12th Edition, by Ball, Geringer, Minor and McNett continues to be the most current, objective and thorough treatment of International Business available for students. Enriched with maps, photos, and the most up-to-date world data, this text boasts the collective expertise of four authors with firsthand international business experience, specializing in international management, finance, law, global strateg... More >> International Business: The Challenge of Global Competition w/ CESIM access card

It wasn't easy but we did it, $1k to $100k on both demo and live accounts. Let's take a moment to celebrate and then get down to business. There, was that long enough? Ok.

Why did some people make it and other give up or just painfully failed? I have narrowed it down to several reasons. Hopefully you will be able to take these lessons away from this article and impliment them into your own trading.

1. Trading more then 1% a trade.

Seems a little weird that the people who eventually made the $100k only risked a max of 1% of their capital in any given trade? Well thats what everyone who made it did. Trading this amount of capital keeps you in the game if you eventually run into a losing streak on the market. This is a vital piece of information to remember. Even though your profits will be lower then a person who risks, say, 10% a trade, your long term ability to stay in the game is far greater then the 10% trader.

2. Trading more then 3 major currency pairs at a time.

There is no way getting around it, Forex can sometimes be a risky and volitile market. Information saturates the internet about every major currency pair. Keeping track of more then 3 currency pairs will often leave the trader in paralysis of analysis. Personally i only trade 2 majors and keep up to date on those. Being a master of 2 currency pairs is far better then being a jack of all pairs and a master of none.

3. Being lazy and not constantly learning.

People change, and markets based on people change with them. Forex changes all the time, what is a favoured currency, what isn't favoured can change week to week. My point here is not to only trade the news, my point is that the people who succceeded in making the $100k were always shaprpening their skills. This market can make you filthy rich so why wouldnt you spend the time learning all you can about it? I can never understand new traders who read a few books on Forex and think that their learning is finished. If you want to make money off Forex remember this, the cost of trading forex is Capital and Learning.

4. Only focusing on one time frame.

Last but not least here is something we probably all did as new traders. But the sooner you kick this habit the better off you will be. Let me give you an example. If a daily chart is showing an upward trend reversal, but on a 1 minute chart it is showing a strong start to an upward trend, if you are only focusing on the 1 minute chart you are going to lose a lot of chedder. My point here is simple, keep an eye on the overall picture at all times. Use 2 -3 different time period charts for a big picture and then use 1 to make your trading decision.

Remember the Forex market does not play favorites. Learn to trade smarter and the profits will follow.