FAQ
A - When you see the term Long this means BUY - Short means SELL
Q - What counties can I trade in?
A - Most counties Forex trading is acceptable but you should check this
Q - What stop loss and profit stop do you recommend
Q - How long have you been trading?
A - We have been making an very good income for several years but only since January 2008 we have been offering this to the general public helping individuals make money from our fanstantic product.
Q. What is an “entry point price” ?
A. This is the price given in the trading signal which must first be hit by the prevailing market price before any trading can be entered. If the market price falls short of hitting the entry point price by up to a maximum of 4 pips, then this would be classed as a hit.
Q. What is a “retracement candle” ?
A. Once the entry point price has been hit you then have to wait for a 1 hour time frame candle to open either clear above or clear below the entry point price, depending whether the trade is to be Long or Short.For a proposed Long trade the hour candle must open above the entry point price, and below the entry point price for a Short trade.
Q. When do I enter, for example, a Long trade on a retracement candle which has opened above and clear of the entry point price ?
A. A trade entry can only be made when it is clear that the market price is going to rise upwards.Usually the market price will bob up and down, unless you are lucky and the market price will just keep rising and not try to go down.Therefore you normally have to wait for about 4 or 5 pips to see which direction the market price will decide to go. Usually, if the market price is going to rise up as required, then it will rise say 2 pips and then drop down 1 pip, then rise another 2 pips and then drop down 1 pip. The overall direction will be upwards, in which case a Long trade can then be entered. The opposite applies for a Short trade.
Q. What happens if after entering, for example, a Long trade on a retracement candle and the market price rises up for say 10 pips or so, then heads back downwards ?
A. If this situation arises on the retracement candle on which you have just opened a Long trade, then you watch the market price and wait until it gets close to the price at which you entered the Long trade. During this time the market price may then stop and continue rising.
If however, the worst happens then as soon as the market price gets very close to the p[rice at which your entered your trade – close out the trade and come out with a pip or two profit or at the worst only lose the cost of your spread.
Q. Where do I place my fixed Stop ?
A. The Stop is 30 pips. It is placed 30 pips away from the entry point price – not from the trade entry price.
Q. When do I exit a trade ?
A. The exit point is basically the reverse of opening a trade on a retracement candle. As soon as each retracement hour candle opens during the trade you watch to see if it opens with the wrong colour within a few pips. For example on a Long trade all of the subsequent rising candles will be a green/blue up colour. When a subsequent retracement candle opens red down colour, and after a few pips there is more red down colour than green/blue up colour, then almost certainly the market price is going to retrace back down and you should close out the Long trade. The opposite applies to a Short trade.
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