Forex Trading faq

Frequently Asked Questions

We have included in this section questions that have been asked of us numerous times in the past and we thought it might be of service to you to include those most frequently asked.

Yes it can, we have individually trained over 100's of traders over the past 11 years who are now independent successful speculators. Sometimes it is better to have a "clean slate" that way you do not have to unlearn anything or have predetermined ideas about the markets.
The Home Study Course is designed for you to be able to trade without hands on instruction. However, many clients want all the information available to them before they start. Spending time with Bill and myself and seeing us trade, and getting the hands on psychological facilitation has proven to increase the success level of most attendees.
You will need an account with a broker, a trading strategy, software, data source a phone and a computer! That is all you need to trade. That is one of the greatest things about trading, you can be in your hotel room on vacation and still trade!
Absolutely. There is no time limit or fee for trading or technical help. We believe that one of the reasons our traders do well is the ability to ask questions and receive feedback about their trading. I still answer questions from clients that took our course over 10 years ago. We also know that the markets are constantly changing. We need to adjust our strategy if and when the market behavior changes, so keeping in touch with us is the best way to keep up with our newest work.
We do not trade for you, so you will need to open an account with a reputable broker. There are so many to choose from, it can be confusing. We are happy to recommend our broker to you for all trading need, currencies, commodities, shares and more. If you choose another broker, make sure you research the company and have a phone back up number in case the Internet goes down. Many brokers offer charting packages as well now, so it can be a one stop shop!
If you make use of our recommended broker and you are a South African you can open a LIVE trading account for as little as R500 ZAR, you can also have a base account in USD. Do keep in mind that you have leverage in forex trading compared to being fully vested in stock trading. The smaller the account the longer it will take you to build up your equity.
We do discuss risk management in our courses but we prefer to work with each client one on one based on many variables such as: account size, trading background and experience, type of markets you are trading, what your belief systems are and the risk reward ratio that you will need to feel successful and comfortable trading. Each trader is different; we all come to the table with different expectations, fear/greed processes as well as experiences, so these factors will help us know how to direct you in learning how you trade best without losing your money. As you gain experience in trading you will know when to trade 10 contracts instead of 2, you will feel comfortable with more than one or two positions on in multiple markets, or you may be happy with 2 contracts that bring small consistent profits.
Yes, many of our traders have a full time job and trade as well. With our methods it should not take you longer than 30 minutes to evaluate all markets, and could take only 10-15 if you can really focus on the markets instead of your opinions about the markets. Our opinions tend to be our biggest enemy! Our goal is that our traders have the abilities and skills to trade full time if they choose to once they have become comfortable with our methods as well as successful.
No there is not. It will vary from day to day depending on the number of positions you are in, and/or the number of markets that you analyze each day. It really should not take more than SOminutes a day. If you are spending your evenings in front of the computer than you are doing it wrong! If you are going on vacation, you simply close out your positions until you return! The market does not keep a time clock!
No, you only need one that has your software program and data. You will need an Internet connection to be able to download your data each day.
Absolutely not! All you need to trade on a position basis is a few minutes at the end of the market day to place your orders for the next day. As a position trader you are not paying attention to what is happening intra-day, you have your stops in and let the market do what it is supposed to do. Position trading is more profitable than day in our opinion.
We recommend that you use Windows 10 as your operating system. You can have Forex College's course on two computers. Contact our office for an activation code.
What time frame you trade will depend on your personality and what markets you like to trade. I prefer to trade the daily charts, they tend to produce more profits long term since you are able to increase size of investment with the trend. I also trade intra-day if the daily time frame does not produce signals. If I trade intra-day I tend to look at the 10 minute time frame for volatile markets like the indices. All other markets like the currencies or the grains I trade the SO-minute charts. You can trade any time frame you like or are comfortable with; we have found these to be the best for us and our traders over time. Again, position trading has proven most profitable and least time consuming for us.
Yes we do supply free technical support for our software and we have a Virtual Classroom where where we help you setup MT5 and interacton between other clients and tutors. MT5 takes care of technical support if you are using their software and data package.
Success has a different meaning to everyone, we believe that trading should be a holistic approach to the markets; because of this our clients have more success than most. I would say our success rate both financially and emotionally is in the 60% to 70% range. I attribute this high rate of success to the ongoing support our clients receive.
We like to see our students' paper trade or small live account trade first after completing the Home Study Course to make sure you understand the mechanics of trading, then start trading on a one contract basis (or a relatively small number of currencies), this should not take long. The average client is trading successfully immediately to a few months. Some go faster than others. It depends upon your depth of understanding this approach and your own personality type. If you are an experienced trader, you will mostly likely be immediately more successful. If you are totally new to the markets you may expect a learning curve of one to a few months. It may take that long for you to experience the different moves and personalities of the various markets. We highly suggest that you contact us during this time.
Yes it can, but we recommend that you do not trade on less than as-minute chart; we also like to recommend diversification, if the GBPUSD is not trending there will be others that are. We like to look at all the opportunities that the market gives us.
First we do trade - EVERY DAY.And we strongly suggest that you not follow anyone who is not willing to trade in front of you. We were either the first or certainly one of the first to openly trade in front of large groups of people. We have openly demonstrated the profitability of this approach real time in 16 different countries. We share our personal trading statements at each Tutorial to show the actual results from the method. One thing that we know about the markets is that there is enough money there for most to do well. We know from experience that if you share and give what you have learned that it will come back to you in more than monetary ways. My father has always been a teacher, and enjoys helping others change their lives for the better. To be able to teach others to take control over their life and their time is the best reward of all for us. By sharing this knowledge we continue to learn how to trade better, and grow which are the most important things we can do as humans .
During your three days in our class we cover all the nuances of the markets that we cannot put in a book or the Home Study Course. We will do personal and psychological exercises to determine what our underlying structure is and what is motivating you currently. How we can be more in tune with the markets, what new signals are being used and hands on trading. The Classroom is a great way for us to get to know you better which allows us to help you more in an ongoing situation after the training. Once we see your underlying structure and belief systems we can guide you better to what will work for you as a trader to bring personal and financial wealth.
You cannot just learn to trade professionally from attending a free seminar or reading a free online book. Trading is a profession just like a doctor or a lawyer and it takes time and mentorship to get to a profitable trader. There are so many aspects of the markets and conditions that are best taught in several formats, like audio, visual, personal inter-action as well as written. Not to mention the "technical" help that is given. Being able to have feedback from someone experienced in the methods you are trying to learn is invaluable to a trader and especially a new trader. Plus it is often just plain inspiring to talk with someone who is currently making large profits while trading this approach. You will receive our proprietary software with the course and interactive charts with questions to make sure you understand the material before you move to the next section. We are available to help you place your first trades, decide where to place stops and even what markets to trade. The more help you are able to get in the beginning to build your foundation the better, this is your future and your money! No one will take care of your money the way you will.
That will vary from trader to trader and trade to trade. What is important is that we have a consistently profitable equity curve. We have found that we may have more losing trades than winners but our winners are so much larger that the profits continue to accrue. It is important to cut your losses quickly and let your winners run. This keeps an increasing equity curve in your account.
We can and we have but it can be difficult. A person must be able to let the losses go and move forward before he/she can be successful again. Our psychological facilitation is the key to this success. The other important factor is building confidence again. We prefer to take small steps to re-enter the trading world. We want to take incremental steps with each success in the rebuilding phase. Remember the old saying- you must get back on the horse after falling off. Our Trader Advisory Service is an unique service helping struggling traders getting back on track..