One of the main benefits of setting up a forex trading blog is that it can serve as a secondary source of income for you apart from trading. Since the blog is not acting as your main source of income, you can take the time to monetize it without making it seem too much as if it’s an online marketplace filled with ads. Here are some methods you can use for making money from your blog.
1. Become an Amazon affiliate.
You can write reviews of new books related to forex trading and use your reputation as a trader to give them credibility with readers. This will make it more likely that they will buy the book if you recommend it. And when they buy it through a link on your site, you can earn a small commission. Of course, you will have to be honest with your reviews since your readers will sense if you are recommending a book without being sincere about it.
2. Sign up with Google AdSense.
AdSense places unobtrusive text ads on your site that are related to its niche, and you can earn a small amount when a visitor to your site clicks on the link and subscribes to the service or buys the product the ad promotes. You can place these ads in unobtrusive areas on your forex trading blog, such as on the side bar or between blog posts.
3. Become an affiliate for Forex Brokers.
Many brokers have an affiliate program where you can earn a small commission when someone signs up for an account with them through your blog. You can write blog posts about the latest developments related to the brokerage and then include a link back to their site.
In order to successfully monetize your forex trading blog, however, you will have to drive traffic to it. Apart from making sure that your blog is indexed with Google and other search engine sites, there are other things you can do to ensure that you generate traffic to your blog.
1. Submit articles to article Directory Sites.
These sites post articles from various experts in their particular niche, and allow them to be reprinted in other sites. You can include a resource box with the article that includes a backlink to your site. When these articles are reprinted, the resource box has to be included, creating more backlinks to your site. This will also help increase your rankings in search engine results pages, since more backlinks is seen as an indicator that your site is relevant to people’s searches.
2. Use Social Media Sites to Drive Traffic to your Blog.
You can set up Facebook pages, for example, that will brand you as a trader, and then include excerpts of your posts, with links back to your site if the reader wants to look at the whole article. You can also use Twitter to announce new blog posts, with a link back to your forex trading blog as part of the tweet.