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About Forex trading
Q. What is Foreign Exchange?
The Foreign Exchange market, also referred to as the "Forex" or "FX" market, is the largest financial market in the world, with a daily average turnover of approximately $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.
Q. Where is the central location of the Forex Market?
Forex Trading is not centralized on an exchange, as with the stock and futures markets. The Forex market is considered an Over the Counter (OTC) or 'Interbank' market, due to the fact that transactions are conducted between two counterparts over the telephone or via an electronic network.
Q. Who are the participants in the Forex Market?
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.
Q. When is the Forex market open for trading?
A true 24-hour market, Forex trading begins each day in Sydney, and moves around the globe as the business day begins in each financial center, first to Tokyo, then London, and New York. Unlike any other financial market, investors can respond to currency fluctuations caused by economic, social and political events at the time they occur - day ornight.
Q. What are the most commonly traded currencies in the Forex markets?
The most often traded or 'liquid' currencies are those of countries with stable governments, respected central banks, and low inflation. Today, over 85% of all daily transactions involve trading of the major currencies, which include the US Dollar, Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar and the Australian Dollar.
Q. What is "Forex" and why is this an ideal asset class for diversification?
Our belief with the Forex market is that money is never really made nor lost, but only changes wallets. Diversifying heavily into one major asset class such as Forex, is in our view, one of the few markets that will work with this type of diversification strategy. Strategy diversification is important from one trader to another to take advantage of this concept. However, currency markets are unique in that they are the only asset class that has never experienced an across-the-board bear market, or even a boom or bust like real-estate markets. In our collective opinion, it is as close to “crash-proof” investing as one can come. This makes currencies an excellent asset class for a diversification. When one trader is down, another is up.
Experienced traders can always find a profitable trade somewhere in the foreign exchange markets, as long as they completely understand the key factors that move world currencies.
“Foreign exchange (FOREX) is the arena where a nation's currency is exchanged for that of another.
The global foreign exchange market is the largest financial market in the world in terms of daily volume, with the equivalent of over $1.9 trillion changing hands daily; more than three times the aggregate amount of the US Equity and Treasury markets combined, and about 6-8 times higher than the volume in the stock exchange worldwide.
The commodities traded on Forex are national currencies. Unlike other financial markets, the Forex market has no physical location and no central exchange. It operates through a global network of banks, corporations and individuals trading one currency for another. The lack of a physical exchange enables the Forex market to operate on a 24-hour basis, spanning from one zone to another in all the major financial centers. In essence, it is a truly global market, which operates around-the-clock and around-the-globe. The global nature of the Forex market, utilizing modern information technologies and financial services, enables private investors to participate in the market from their homes or offices now via telephone or computer with an internet connection.
Traditionally, retail investors' only means of gaining access to the foreign exchange market was through banks that transacted large amounts of currencies for commercial and investment purposes. Trading volume has increased rapidly over time, especially after exchange rates were allowed to float freely in 1971. Today, importers and exporters, international portfolio managers, multinational corporations, speculators, day traders, long-term holders and hedge funds all use the FOREX market to pay for goods and services, transact in financial assets or to reduce the risk of currency movements by hedging their exposure in other markets.
The Forex market is quite different than a market such as the stock market. As a result of its global dimension, the Forex market is open 24 hours a day, which enables investors to correct their positions at any point in time. Given the large number of players, the Forex market has narrow spreads and virtually no price gaps. The lack of price gaps typically enables investors to count on non-slippage order execution. However, in a very volatile market the possibility for slippage exists.
The large volume of participants also reduces opportunity for insider information. To put it simply, there has never been a case of complete non-recoverable currency collapse in a developed country.
The volatility of leading currencies rarely exceeds 1% per day, in contrast to the volatility of stocks, which may fluctuate by up to 10% over one trading session. The Forex market generally provides more opportunities for leveraged trading (although it should be noted that a higher leverage size is associated with higher risks).
According to New York time, trading begins at 2.15pm on Sunday in Sydney and Singapore and progresses through to Tokyo at 7pm, London at 2am and reaches New York at 8am. This leaves investors free to respond to global political, economic and social events when they take place, day or night.” – RB Capital Management.
Q. What are alternative investments, and why would I add these to my portfolio?
Characteristically speaking, an alternative investment is an investment category comprised of non-traditional investments (stocks and bonds). Alternative Investments can include futures & options (derivatives), currencies, real estate, private purchase programs, as well as hedge fund investments and private equity investments - many using sophisticated, diversified strategies, and usually are considered riskier than traditional investments. We believe when properly structured, these investments can be extremely attractive even though they are still considered high risk.
One of the largest advantages of many alternative investments is in their ability to profit in virtually ANY economic environment. Time after time, the successful growth of this investment class thrives regardless of conditions such as a strong economy, low inflation, high interest rates, or a depressed stock market. The success of these investments typically depends on performance, as well as the risk and diversification used. Investors adding this asset class to their portfolio can help reduce volatility, minimize risk, and possibly increase the risk versus return ratio of their overall portfolio.
Because of this, it is no surprise that alternative investments have increased dramatically in popularity over the past 10 years as investors search for alternatives to traditional markets. It is more common now to see these types of investments used in typical portfolio management strategies.
About Our System
Q. Can a complete novice trade your system?
We believe so and this is why we have designed our trading system in a certain way and have literally spent a vast amount of money on our bespoke trade alert software & trade mgt software. We felt that this was needed to take the confusion out of when to take the trade and give the new trader confidence when trading a LIVE account!
We can teach people what set-up to look for, but what we found with our own private students is that they still lacked the confidence & experience to make their own decisions as to when to take the trade. When they see the entry confirmed on the actual trading chart itself, they then feel more comfortable to enter into the live trade.
Q. Do you use market or pending orders?
We only use pending orders and wait for the trade to enter at our desired price.
Q. How do you define the trend?
We are aware and respect the long-term trend, however we do not define the trend as part of this trading system. Instead we let price action decide on the direction for that day by having to break through a very strong support or resistance level. This means that the probability is on our side that the trade is likely to continue in this direction for a short time. Plus you could have 10 people trading on the same day at exactly the same moment and each one will define the trend differently, depending on the time frame they are trading at that time. The other aspect is that price often retracts or retraces from the current trend, so often you will experience a price reversal at the moment you enter the trade in the direction of the perceived trend.
Q. How much time do you have to spend on screen?
It will take you approximately 20 minutes a day max to trade this strategy and if you have the optional trade management software then you will cut that time in half. This is an End of Day system, meaning that you will only need to check for a new trade set-up once a day and at the end of the trading day, at the close of the daily candle.
Q. What time will that be?
This will be different depending on what time zone in the world you live. But this is suitable for anyone to trade no matter where you live in the world.
Q. Can your system be traded part-time?
Yes, it can be traded part-time as you only need 20 minutes max per day to trade this strategy and you only need to look at your charts once a day. If you also purchase our trade mgt software then this 20 minutes will be cut down quite considerably.
Q. Is this a Robot?
No, this is not a trading robot that will take the trades automatically, however we do have as mentioned, trade mgt software that will manage the trade from start to finish once you have made a manual decision to enter the trade.
Q. How easy is it to learn?
We have designed our online training videos so that anyone of any level from beginner to advance trader can learn to trade this system.
Q. What is your trading strategy?
Wayne's system is an end of day system, meaning that you will only check for new trades at the end of the trading day, at the close of the daily candle.
It should not take you more than 20 minutes to scan the currency pairs and place the new trades or manage any open positions.
His system does not use any indicators but instead is based purely on price action and the contraction and expansion of price at certain times in the market.
The set-up identifies a contraction in price that can rapidly expand past a logical support & resistance level. When price does break through this level, then the probability of it continuing is stacked in our favor. Will it do it every time? No, of course not, but it does not need to do it every time, as we have a very well worked out risk to reward on the trade. Therefore even if it was to do it 50% of the time we can still make good money at the end of the month, and in fact the strike ratio is higher than this.
The price action setup that we teach you is very easy to understand and learn even for a complete novice, plus it will also be confirmed on the actual screen and via email, so there is absolutely no confusion.
We are aware and respect the long-term trend, however we do not define the trend as part of this trading system. Instead we let price action decide on the direction for that day. This is essentially because you could have 10 people trading on the same day at exactly the same moment and each one will define the trend differently, depending on the time frame they are trading at that time. The other point is that price often retracts or retraces from the current trend, so often you will experience a price reversal at the moment you enter the trade in the direction of the perceived trend.
So as part of our strategy we set both a buy and sell pending orders and wait for price to pick a direction and break through the logical support or resistance level. Once one order enters the market, ie; the BUY then the other one, ie: SELL is cancelled and vice versa. If none enter the market within 24 hours then both pending orders will be cancelled. (Our optional trade mgt software will do this all automatically for you). You will learn how to use this software and also learn how to use your own judgment to decide when to stay out of the market. This unique & valuable software is yours to keep for life.
The optional software will allow you to set all the pending orders in a matter of seconds. All you need to do is drag and drop the script onto the trading chart and it places all the pending orders into the MT4, including the correct lot size based on your account balance and our money mgt rules. It will also manage the trade from start to finish. This means that if you are away from the PC or sleeping then the software will bring the SL to breakeven at the appropriate time so it protects the trade, this then becomes a free trade. It will also move the SL as the trade progresses according to our rules, so that it will lock in profits along the way. This then ensures that no matter what, you have the best possibility of making money on the trade.
Q. How long have you been trading it?
Wayne has been trading this system for over 5 years.
Q. Is this the only system he trades?
No, Wayne has many other trading strategies that he trades and not only forex.
Q. What kind of ROI can I expect when trading your system?
This will of course depend on whether you are able to follow and stick to the rules and can keep disciplined, or whether you have a tendency to let your emotions get the better of your trading and therefore interfere with the trade and cut the profit too early etc. As a guideline you should be able to return in the region of 80%+ per year. This is without compounding which should in theory double your account, assuming that you do not make withdrawals on your account balance. But please read the risk disclaimer in full as past results of any trading system or methodology is not necessarily indicative of future results.
Q. Do I have to pay a monthly subscription for the software?
No. This is a one-time payment and the software license is for life. We are obviously not going to give away our own trading system for free, so we have set a price that we feel is fair and that anyone can afford if they are serious about trading.
Q. What does your software do?
The software that comes with the system will display on the actual trading chart when a valid trade sets up according to our trading rules. It will also display the exact entry price level, the SL, the target and even the exact lot size based on your account balance. The optional software will allow you to set all the pending orders in seconds. All you need to do is drag and drop the script onto the trading chart and it places all the pending orders into the MT4, including the correct lot size based on our money mgt rules and your account balance. It will also manage the trade from start to finish. This means that if you are away from the PC or sleeping then the software will bring the SL to breakeven at the appropriate time so it protects the trade, this then becomes a free trade. It will also move the SL as the trade progresses so that it will lock in profits along the way. This then ensures that no matter what, you have the best possibility of making money on the trade. Go to about our strategy page to learn more
Q. Can I use the software on MT4?
Yes, it is designed for MT4.
Q. Do I have to pay extra for the trading charts and price feed?
No, you will use the MT4 trading platform, which you can get free from any forex brokerage.
Q. Why are you selling your system?
Please come to the webinar to find out how the system was born. Webinar details are on the HOME PAGE
Q. How do I find out more about your system?
The best way would be for you to attend one of our live webinars. Our HOME PAGE
you can apply for the next run of dates.
Q. Can I buy the option trade mgt software at a later stage?
Yes, but it costs more to buy it separtely.
Q. What level of ongoing support do you offer?
In the membership area after purchase you can request support. Within the members area there is a support page, where you have primarily email support, you can also request a live chat if your question can’t be answered fully by email, and we also have remote access software just in case of technical software issues such as installing your software correctly onto the MT4 terminal.
Q. How do I contact you?
Go to our contact page where there are various options etc.
Q. If you have so many members using your system will this affect the forex market and the results in some way?
The forex market is so huge and liquid that in reality this is like the smallest raindrop in the largest ocean in the world. It will in no way affect the market in any shape or form!
Q. Can I trade at any brokerage?
Yes, of course you can. You can even trade via a spreadbet brokerage if you are based in the UK. However, our software is designed for an MT4 trading terminal.
Q. Can you recommend an honest brokerage?
Yes, we can but send a private message for that.
Q. What is included in the online video training?
There are 10 training modules as outlined below:
MODULE 1 - FOREX BASICS
MODULE 2 – TREND Vs PRICE ACTION
- FOREIGN EXCHANGE
- WHY DO PEOPLE FAIL?
- TYPES OF TRADING
- CHART TYPES
- CANDLE - HIGH, LOW, OPEN, CLOSE
- WORLD MARKET SESSIONS
- MOST USED TIME-FRAMES
- THE MOST COMMON TECHNICAL ANALYSIS
- THE TREND IS YOUR FRIEND, OR IS IT?
- MARKET STRUCTURE
- INDICATORS TO DETERMINE TREND
- TIME FRAME CONFUSION
- UNDERSTANDING SUPPORT & RESISTANCE
- BUY LOW, SELL HIGH
- TREND LINES
- PRICE IS THE BEST LEADING INDICATOR
MODULE 3 – OUR SYSTEM
- THE CURRENCY PAIRS WE TRADE
- OVERVIEW OF SYSTEM
- PRICE ACTION/SIGNAL BAR
- TRADE ALERTS
- SYSTEM RULES
- MANAGEMENT OF THE TRADE
- THE 4 POSSIBLE OUTCOMES
IMPORTANT CLARIFICATION VIDEO
MODULE 4 – OVERVIEW ON LIVE CHARTS
- SIGNAL – THE SET-UP CANDLE
- TAKE A CLOSER LOOK INSIDE THE DAILY CANDLE
- PRICE ACTION – SUPPORT & RESISTANCE
- PRICE ACTION EXPLOSION
- PENDING BUY/SELL STOPS
- MANAGING YOUR TRADE
- FREE TRADE
- LOCK-IN OF PROFIT AS THE TRADE PROGRESSES
- WHY 90 PIPS?
- AVERAGE DAILY RANGE EXPLAINED
MODULE 5 – LIVE TRADEEXAMPLES
- DAILY ROUTINE
- THE ANOTOMY OF A TRADE
- LIVE TRADES FROM START TO FINISH
MODULE 6 – INSTALLING THE MAIN SOFTWARE
- MT4 INSTALLATION ON YOUR PC
- INSTALLING THE SOFTWARE
- INSTALLING YOUR INDICATORS
- SETTING UP THE PROFILES
- ADDING THE INDICATOR & TEMPLATE
- SETTING UP YOUR CHARTS
- SETTING UP EMAIL FUNCTIONALITY
MODULE 7 – MANUAL ORDER PLACEMENT
- BUY STOP MANUAL PLACEMENT
- SELL STOP MANUAL PLACEMENT
- ENLARGING THE FONT SIZE
MODULE 8 – INSTALLING THE OPTIONAL SOFTWARE
- INSTALLING YOUR TRADE MGT SOFTWARE
- INSTALLING THE LIVE DASHBOARD SOFTWARE
- INSTALLING THE PENDING ORDER SCRIPT
- SETTING UP AUTO EMAILS
- HOW TO USE YOUR PENDING ORDER SCRIPT
MODULE 9 – FINAL WORDS
- WHEN NOT TO TRADE
- NON-FARM PAYROLL
- MAJOR WORLD EVENTS
- HOLDING A TRADE OVER THE WEEKEND
- CAUGHT IN A TIGHT RANGE
- PORTFOLIO MAXIMUM
- PATIENCE AS A TRADER IS KEY
- THE AFFECT OF COMPOUNDING
- MISSING THE TRADE
- DON’T LET YOUR EMOTIONS INTEFERE WITH YOUR TRADES
- MIXED MARKETS – DON’T GET FRUSTRATED IF MANY TRADES GET STOPPED OUT AT BREAKEVEN
- ADVANCED STRATEGIES IN DIFFICULT MARKETS
- MANUAL OVERRIDE OF THE TRADE MGT SOFTWARE
- BROKER DISCREPENCIES
- ECN/STP Vs DEALING DESK
- DIFFERENT SERVER TIMES WITH DIFFERENT BROKERS
- SUNDAY CANDLE
- SETTING TRADE ALERTS
Q. Does your course assume any prior trading knowledge?
No, we start from the beginning.