There are a number of ways to redirect traffic from one domain/website to another. The so-called URL redirection is oftentimes preferred. In contrast to parking a domain name, a URL redirection can be done only if the domain name in question is hosted. What this means essentially is that you can still open any content if you have a direct link to it and you could set up e-mail addresses or subdomains and use them. Such a function has several practical uses - if you decide to switch your domain, you could forward the traffic, but the emails with the old one shall still be active whenever you are communicating with customers or partners. In case you have 2 identical Internet sites and you need to rebuild one of them, you may redirect the visitors to the other website so as to avoid losing potential customers, while you'll still be able to access the admin area for the first site and improve it.