url redirection

[webmasterbeta]

I am an affiliate to a webcam site. My affiliate url is long and definately not pleasing to the eyes. I wanted to buy a domain from godaddy.com and have my affiliate link forwarded to it. Lets say for example I buy "www.camhoneys.com" and when visitors type that domain in their browser, it goes directly to my original affiliate link.

Do I need to buy hosting for this also? Or just buy the domain and in the members area chose domain forwarding?

Thanks