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1) How does the signal service work?
A) Wait for a signal
Receive a real time trade signal from our members only website.
B) Place the trade
Enter the trade EXACTLY as instructed by the signal. Please be aware
that different brokers use different
data feeds and our signal prices may differ from the prices reported by
your broker. ONLY ENTER TRADES THAT ARE WITHIN 4 PIPs OF OUR SIGNAL
PRICES. Entering at a different price will result in less profits.
C) Cash Out
Wait for your profit target to be reached or adjust the position to the
instructions provided.
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2) How do you pick the right trades and how does the system work?
Our
system
follows proprietary algorithms based on experience augmented by
artificial intelligence and other factors that will remain in house
knowledge. We take advantage of price volatility in the different
currency pairs and the previously mentioned facts, to anticipate
periods when
the markets will make a move and in which direction. Our system then
attempts to catch the move when it has the
potential to make a profit.
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3) What are the currency pairs offered by FxSignalTrader?
We
currently
offer 2 signal packages.
The Professional Package comprising 9 currency pairs as listed below:
Secondly, The Gold Package, comprising 3 of our most dynamic
and profitable currency pairs. GBP/JPY, GBP/USD & AUD/JPY.
These 3 currencies alone will generate a significant number of points
in a
month alone, but they will not generate as many points as our
Professional Pack.
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4) How much money will I need to start trading?
You
should
think about using a training account offered by most brokers first,
instead of using real money, until you become more competent and
confident. Depending on
which broker you choose, you can start with as little as $1000. You
will have to ask the broker of your choice, how much money you will
need to begin trading. Most dealers will also require you to have a
certain amount of money in your account for each transaction. Keep in
mind that the more positions you would like to open, the more money you
would need. If you start with a small account, up to $5000 we recommend
that you trade microlots until you are familiar with the broker you are
using and the signal service.
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5) Is Forex Trading risky, could I not lose my shirt?
Yes
you could
most certainly lose your shirt, if you are not careful. Trading
currencies is inherently risky, but the potential rewards are
commensurate to that risk if you win. We aim to help you reduce that
risk, by giving you sound advice and a system that is proven to work.
We cannot however, guarantee the stake money that you trade, but we
will guarantee your monthly subscription fee. No other signal provider
is prepared to do this so you might ask yourself, are their signals any
good?
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6) Can I take out credit to trade?
It
is very
common for online Forex brokers to allow their customers to execute a
margin of trades in excess of a 100:1 leverage. This means that you
could
execute trades of $100,000 with an initial stake or margin of $1000.
Our system is designed to make money over a period of time. We do not
recommend that you trade more then 3-5% of your account on any one day.
Trading our system will give you an edge and over time you will make
money. It is important to stay in the game, we cannot predict which
days will be winners and which days will be losers, hence Money
Management is a crucial part of our system.
It is important to remember that while this type of leverage allows you
to maximize your profit potential, the potential for loss is
accordingly great. Ultimately though, how much leverage you take
advantage of, depends on the your appetite for risk. However, the
general rule of thumb is that you should not risk money that you do
not have, this is especially important if you are just starting out and
are inexperienced. An
example of this would be if you are trading with a $5000 account, set a
max loss rule of 3.5% of the account, or $175. This is the maximum
amount of money you can lose in a day. If you trade 3 currencies and
the combined stop value is 60 points the maximum amount you can trade
per point move is $175/60 or $2.91 approx $3 per point move.
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7) How many currency pairs should I trade?
Depending
on
your subscription level, you will receive either 3 or 9 currency
pairs, though it is up to you how many pairs you decide to trade. If
you are new to trading then just 3 currencies will keep you busy enough
and also allow you to trade with a smaller account size. Trading 9
currencies concurrently can be difficult for an inexperienced trader
who is not familiar with their brokers interface. However, trading 9
currencies has consistently shown a better equity curve and greater
profits in the long term, with a much lower likely hood of a draw-down.
In fact, over a 2 year period (and increasing) we have NEVER had a
monthly loss trading 9 currencies. Trading 3 currencies has resulted in
some months being break-even or slightly negative, as the risk of
trading has not been spread across a large enough portfolio of
currencies, however the strategy is still EXTREMELY profitable over the
long term. Although it will bring
greater
profits and reduces the chance for losses, as it is very unlikely that
you will have a
loosing day on all 9 currencies.
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8) How many open positions does the system hold open at the same time?
One
position
per Currency Pair. The market is dynamic and you must realise that when
the system indicates a reversal you must follow the signal. The system
will either buy, sell or not trade according to its evaluation of the
market.
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9) How often are the signals sent?
This
depends on
how our system reacts to market conditions, so it is not possible to
announce a specific number. There are 9 Currency Pairs that each could
generate one Buy or Sell Signal that could then go on to hit the profit
target or stop, once a stop is hit we reverse immediately in the
opposite direction per day, therefore there is a theoretical maximum of
18 entry signals in one day. In general we expect trade signals on the
vast majority of our currencies each and every day. There are
occasions where the system will suggest "No Trades" this is not a
malfunction! The system only trades when it expects to make a profit.
If the system has learnt that certain situations need to be avoided,
then it will not trade. We advise that you follow the signals exactly.
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10) What is your maximum profit and loss on any currency?
We
have evaluated all the currencies we offer and the most volatile
currency is the GBPJPY, this has the potential for the greatest gain
and also the greatest loss. The most points that we have lost trading
this pair alone is 186 points and the most points we made was 813 on a
single day. The
average winning trade on this pair is 129 points and the average loss
is 44 points.
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11) How much time do I get to enter trades once a signal is given?
Our
strategy is based on trying to get in on trends when they form at the
lowest potential risk. Consequently, the majority of our entries are
between 8 and 9 a.m London time. Some additional trades are entered
later in the U.S open around 1.30 to 2.30pm London time.
In a very fast moving market the price may have gone beyond the signal
entry price. In these situations (which are rare) simply enter a limit
order, and you will 90% of the time get a fill within a few minutes at
the original price required. Generally you will get anything from
minutes to maybe an hours notice of a trade entry.
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12) How busy will I be following your signals?
Between
8:15 and 9:15 London time the majority of the trade entries will be
completed. Thereafter its just a matter of staying within earshot of
your signals page. A loud beep will be heard throughout the day to
update you on
trade progress. So, the initial hour can be busy, but if you are
proficient with your brokers trade entry screen it should not be an
issue. Thereafter you can pretty much relax and just wait for a beep!
When trades are going our way we stick with them all day and generally
close around 4pm US Eastern Time.
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13) The browser providing the signals sometimes returns an Error!
message and the browser no longer ticks or updates, are you having
server
problems?
Our
system has been tested to handle traffic 10x greater than the current
load. This error is commonly as a result of your own internet
connection. Please make sure that your internet connection is stable
and you are not doing any large downloads. Bittorrents and other P2P
type activities, Microsoft updates etc should all be scheduled outside
of your trading times.
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14) I have noticed that your site has some formatting problems with
Google
Chrome and Safari browsers. The audio notifications in Mozilla have
been fixed and now Chrome and Safari work with our signals as well!!!
The
site has been
optimised for Mozilla Firefox and Internet Explorer only. If you have
any
problems when viewing the site with any other browsers, please consider
obtaining
a copy of Mozilla Firefox or using Internet Explorer if you are on a
windows machine.
The members area can now be viewed with Mozilla Firefox,Google Chrome
and Apple Safari now.
The problems with some Mozilla installations regarding audio
notifications has now been
solved.
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15) I notice that my trading signals to open and close trades have
shifted by an hour, why is this?
We start looking for trade entries around 8AM London time, any open
trades are closed at 4PM Eastern Time. Due to the daylight saving dates
not being consistent between Europe and the USA there will be weeks
when your morning entries and end of day exits may be shifted backwards
or forwards by an hour (dependent on your timezone) - Don't worry, just
follow our signals and be logged in to receive signals using a London
time clock, this way you will never miss any signals.
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16) How does your guarantee work?
Our refund policy is only valid for Pro Pack subscribers and states
that should our published results NOT provide positive points for your
subscription period then we will provide a full refund of your
subscription for that month OR provide you with a further months
subscription Totally free. Please see our Terms and Agreements page for
further details.
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17) Can I share my FxSignalTrader subscription?
We
reserve the
right to enforce an instant termination of any account found to be
shared and any fees paid for that month will not be refunded.
