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Frequently-Asked Question on Our Training Services |
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| Q: |
How does your course compare to others I see on the Internet? |
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| A: |
Most currency trading courses pack their curriculum with elementary information
you can already get on the Internet for FREE. We don't charge you to learn what
a pip is, or what 'bid/ask spread' means. Type 'Forex education' into Google's
search engine and spend a dozen hours reading up on the basics. As for the
history of the foreign exchange market the book 'Currency Trading For Dummies'
(we kid you not) does a good job of that. Our course assumes that you have
already graduated from Forex elementary school and are ready for a serious
education in actually making money as a currency trader. |
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| Q: |
Your class appears to be very comprehensive. Are you aware of any differences
between your methods and those offered by other courses and instructors? |
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| A: |
Yes, there's a big difference. Most Forex courses teach you to use moving
averages, oscillators, Bollinger Bands, RSI, and a zillion other technical
indicators. Problem is, they all lag price. Sure, you can make money with those
indicators. But you'll have to sit in front of your trading screen all day to do
it. That's because you'll have to become a 'pip hunter,' ready to pounce when
two colored lines cross each other. That's too much like a job to us. We got
into Forex precisely because we did NOT want to be day traders. The
current version of our course teaches you our 'Convenience Currency Trading'
methodology which takes less than 30 minutes each day to spot trades. Open
trades are then monitored on 'closed candles,' meaning at the end of the
particular trading period. Got a trade open on the 15-minute chart? Come back
on 15-minute intervals to see if your trade needs adjustment. Got a trade open on the
1-hour chart? Come back at the top of each hour. In between visits to your
computer, you can live your life. This means that Forex trading can now be
MULTI-TASKED with your normal daily routine. This trading philosophy difference isn't just
different, it's extraordinary. |
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| Q: |
Will your course teach me everything I need to know in order to trade? |
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| A: |
No. No course can do that. Even we don't know everything there is to know about
trading. We learn new things all the time. What our course WILL do is teach
you everything you need to know to MAKE MONEY, and without driving yourself
crazy chasing pips around your screen all day. We sincerely believe that no one
else on the Internet offers a more comprehensive currency trading course than we
offer, at a comparable price. As a matter of fact, many charge considerably
more. Also, we know of no Forex trainer who offers the continuous FREE, live
support that we offer on our Wednesday night support webinars. Can't make
one? That's OK. We've already recorded it for you to review at your
convenience. |
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| Q: |
When can I take your course, and who is it best for, a total beginner or a
seasoned trader? |
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| A: |
You can get started any time you like. We give you access to a private web page
where you download all the course modules in PDF (Adobe), audio and video
formats. You can review each module as necessary if you get 'stuck' at any
point. We continue your education via a FREE support webinar held each
Wednesday night at 8:00PM U.S. Eastern time. |
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| Q: |
Will you be up-selling me other programs or products that require other cash
outlays? And if so, what should I expect in
terms of monthly fees/costs to trade? |
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| A: |
There is no 'up sell.' We think it's unfair that some trainers charge thousands
of dollars for their courses, only to later attempt to enroll you in a so-called
'advanced' course in which they purport to 'really show you how to trade.' Why didn't
they teach you how to trade in the first place? We don't engage in such tactics. Upon completion of our course, you will know how to spot
high-probability trade setups. You are also invited to attend our Wednesday
support webinars for as long as you like, at no additional cost. All of
our support sessions are conducted over a live conference call supported with a
'white board' interface so you'll always speak with a live instructor, in real time,
and see his desktop displaying his charts on your desktop simultaneously. |
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| Q: |
Must students place their trades on the trading platform of the broker you
recommend? |
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| A: |
Not at all. Students are free to open a brokerage account anywhere they like. We
are not Introducing Brokers (IBs) and don't want to be. |
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| Q: |
How much money can I make trading Forex? |
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| A: |
Wrong question. The question you should be asking yourself instead is, 'How much
money can I afford to lose trading Forex?' Forex traders who put our trading methodologies
into practice have the potential to make significant profits. The profit
potential is probably greater on the Forex than in any other market. However,
whether or not you make money is strictly a function of how
disciplined a trader you become -- i.e., how well you can check your emotions at
the door, trade objectively and thereby correctly manage risk. If you don't
think you can do that, you should not trade Forex. |
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| Q: |
How hard is this to learn or understand? |
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| A: |
If you can read and understand English and do math at the sixth grade level, you
can learn how to trade. If you can dedicate a few hundred hours to demo trading
and learn to become consistently profitable in your demo account, you can make
the transition to trading real money and become a successful trader. It's that
simple. Those not willing to invest the time and do the work should not trade
Forex. |
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| Q: |
What schooling or educational background do I need? |
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None whatsoever. We pride ourselves in having high school dropouts, college
dropouts and post-grad dropouts among our most proficient
graduates. Anyone of average intelligence can learn to trade Forex, from single
moms on welfare living in a trailer park to brain surgeons and commercial
airline pilots (we try to avoid teaching lawyers how to trade.) It doesn't
matter who you are or what you've been doing for a living. In fact, teenagers
with good video game skills can learn to become excellent traders. If you don't
believe us, pick a video game and try to beat a teenager at it. |
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| Q: |
What are the advantages to trading the Forex market? |
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The advantages are almost too numerous to remember. Here are a few:
Instantaneous order fills. Markets that are open 24 hours a day, 5+ days a week.
Volume and liquidity that boggles the mind, greater than all the world's stock
markets combined. Great leverage with low margin requirements. You can open a
trading account for as little as $200-$250. No need to identify what to trade,
as with stocks, options and commodities. The market is always sitting there,
waiting for you to log in. You can make money regardless of whether the stock
market is going up or down. Great returns can be made in short periods of time,
sometimes in as little as a few minutes. You can learn how to manage both risk
and profits in such a way that your trading capital can be protected to a degree
you may not have imagined. Ease of reading and understanding the charts. Price
and chart action are easy to identify and understand. Split-second order
execution. Low commissions. |
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| Q: |
What does your course cost? |
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$495 USD which comes with FREE ongoing support from a live instructor
who actually trades for a living as opposed to merely conducting seminars. |
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| Q: |
How much money can I lose? |
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If you don't know what you're doing, you can lose everything. Our course is
designed to teach you how to identify high probability trading setups so the
odds of success are always in your favor. |
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| Q: |
What if I don't understand something in the course? |
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Join us on our Wednesday night support webinar and ask us. We might spend an
hour answering a single question. |
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| Q: |
Isn't this like gambling? |
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Not if you mean like casino gambling. Las Vegas doesn't gamble. They hold the
edge and always make money. Only the tourists who show up on the buses gamble.
Las Vegas will always win in the long run, that is until and unless someone
repeals the laws of mathematics. With Forex trading, you hold the edge when you
consistently trade correctly because you become 'the house.' |
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| Q: |
Why is Forex trading the best business to be in? |
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Freedom. Because once you know how to do this, no one will ever be able to take
it away from you. You can trade from anywhere in the world with Internet access
-- on a sailboat, in an RV, at the beach, in a hotel room, wherever. And you
work when you want to, not when someone tells you to. |
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| Q: |
If Forex trading is really as straightforward as it seems, why is it not more
popular? |
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Stop any 100 people at random in a shopping center and 99 of them will never
have heard the word Forex, let alone know how to spell it. Even some seasoned
stock and options traders think they still have to buy currency futures as
commodities in order to "play" the currency market. They don't realize that a
spot Forex market even exists, one in which micro-fluctuations in the currencies
can be traded, live and in real-time. |
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| Q: |
Why do so many Forex traders lose money? |
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Because of its relative novelty and ease of entry, promoters worldwide are
jumping on the Forex bandwagon and pitching it as the next "Holy Grail" and
charging thousands of dollars to learn. This tends to attract high-risk
personality types who are drawn to "pie in the sky" investment schemes. The
situation is further exacerbated by the fact that you can open a Forex trading
account with as little as $200-$500, jump in (without a bungee cord) and be
on-line "playing" within a matter of minutes, at up to 200:1 leverage. This type
of behavior is pure gambling, but it's a fact of life. If it were not so, Las
Vegas would still be a lonely dirt road and a single gas station. We teach Forex
trading from the perspective of a risk-averse investor who simply wishes to take
advantage of the quick turn-around time in the Forex market -- i.e., minutes to hours,
rather than days to weeks, perhaps even months as with stock, options and
commodities trading. We teach Forex trading not as a "get rich quick" scheme,
but as a legitimate, professional means of generating a home-based living; ideal
for those who can summon the discipline to practice the trading techniques and
risk management methods we teach.
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Questions About the
Forex Market
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| Q: |
How fair is the Forex Market? |
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The Forex market is so large, so liquid and composed of so many players that no
one government or private party can completely control the direction of the
market. At least not for very long. That's why the Forex is probably the fairest
market on Earth. |
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| Q: |
What is the Forex? |
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| A: |
Foreign Exchange is the simultaneous buying of one currency and selling of
another. The world's currencies are on a floating exchange rate and are always
traded in pairs, for example Euro/Dollar or Dollar/Yen. The Foreign Currency
Exchange Market, also referred to as the "Forex" or just "FX," is the largest
financial market in the world, although there is no centralized location for
trading activity. With a daily average turnover of $3 trillion USD, it is the
largest legal cash flow industry in the world -- a cash inter-bank or
inter-dealer market in which over 4,600 International Banks and thousands of
small and large speculators participate. It is one of the oldest markets in
existence. This exciting and rapidly growing financial market provides the
entrepreneur an opportunity to generate profits in the fastest growing industry
and the largest market on Earth. |
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| Q: |
Who trades in the Forex Market? |
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The Forex market is called an 'Interbank' market due to the fact that
historically it has been dominated by banks, including central banks, commercial
banks, and investment banks. However, the percentage of other market
participants is rapidly growing, and now includes large multinational
corporations, global money managers, registered dealers, international money
brokers, futures and options traders, and private speculators like yourself. |
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| Q: |
How do I trade the Forex Market? |
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You trade it on your home computer through a trading platform supplied by a
Forex dealer. If you have never traded Forex before, you will start with a demo
trading account where the Forex dealer gives you $10,000-$50,000 'demo dollars'
to play with. It's identical to a real trading platform. You just can't spend
the demo money. |
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| Q: |
How fast are trades executed? |
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Almost instantantly. By the time you lift your finger from your mouse, your
trade will usually have been filled. The Forex market is so huge that there is
virtually always a buyer and a seller at any given instant, no matter what the
price. It's not like the stock, options or commodities markets where there may
be no buyers at the price you want to sell. |
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| Q: |
What are the most commonly traded currencies in the Forex markets? |
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The most often traded or 'liquid' currencies are those of countries with stable
governments, respected central banks and a low inflation rate. Today, over 85% of all
daily transactions involve trading of the major currencies, which include the
U.S. dollar, the Japanese yen, the euro, the British pound, the Swiss franc, and the
Canadian and Australian dollars. |
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| Q: |
What is the Foreign Currency Exchange? |
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The Foreign Exchange Market, also referred to as the "Forex," is the largest
financial market in the world, with a daily average turnover of over $1.5
trillion USD. Foreign Exchange is the simultaneous buying of one currency and
selling of another. The world's currencies are on a floating exchange rate and
are always traded in pairs, for example Euro/Dollar or Dollar/Yen. |
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| Q: |
What are the trading times? |
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The spot Forex market runs continuously on a 24-hour basis, 5+ days a week, from
about 5:00PM U.S. Eastern time on Sunday, straight through to 4:00PM Friday.
Dealers in every major Forex trading center - Sydney, Tokyo, Hong Kong/Singapore,
London, Geneva and New York/Toronto, ensure a smooth transition as liquidity
migrates from one time-zone to the next. Got insomnia? Get up at 3:00am, make a
cup of coffee and trade. |
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