| Frequently Asked Questions |
|
You may find here after the usual questions about our services and organization. Should you have any other question or issue, don't hesitate to contact us here.
We are a small team of traders who provide forex trading signals to our registered clients. We have been online since January 2010.
As it is sometimes boring to trade for ourselves, we have decided that it could be a good idea to share our trading with people who are looking for investment opportunities. It's very gratifying to satisfy our client's needs and receive their support.
We use a multi-timeframe approach with a 4-hour chart as the main timeframe. This allows us to take multi-day trades as opposed to intraday operations. Our trading approach is to detect reversal and continuation patterns on longer timeframes (daily and weekly) and then validate the opportunities with the intraday charts (4-hour and 1-hour). We like to use breakout technics to enter the market. This way, we can use stop orders to enter a position (our stop is triggered when the market reaches a certain level of price).
Strategy update :
Unlike day traders, we don't necessarily close our positions before the end of the trading day. We can hold them several days (actually between 1 and 5 days). However, our target can be reached very quickly. We may be stopped out the same day as well when our strategy didn't work.
Day trading is more agressive and requiries specific skills and technics. Besides, our service is more suitable to the use of longer timeframes as we send realtime signals. It is easier for our members in terms follow-up who do not need to monitor their chart all day long.
Given the market conditions, sometimes we are stopped out the same day we open a position. On the other side, our target may be reached on the same day too. That doesn't mean we are doing day trading. Our objective is to carry the trade as long as possible in order to catch bigger moves depending on the market conditions and the currency pair.
We are working with 25 pairs. 13 new pairs have been added on May 08th to increase the trading opportunities (*) :
(*) Warning : the spread on the new pairs used is higher than the others. We take this aspect into account while placing our stops but you might see big differences with your broker for certains pairs. In this event, we recommand to eliminate the pairs you think too "expensive" from our recommendations.
It's basically the information we send to our clients when we enter a position or modify a stop loss. We consider our clients use our stop loss and profit target so we don't need to send them an exit signal (except of course when we manually exit a position considering it is time to take our profit or when the strategy is invalidated). Please keep in mind that we never leave our members alone. We manage the position from the beginning to the end of its life. Here are some exemples of signals sent by mail or SMS :
In the mails, we always add some comments to explain what we are doing (what the market is doing, why we adjust our stop loss, why we exit the trade etc.)
We have customers all around the world so we decided to choose a time zone that everyone understands. It is very easy to convert GMT to any time zone. The most important time is the one you see on the signal (mail and sms) because our traders usually send the signals immediately after they enter the market.
It is the price value where a trader should exit his position if the market goes against it. We recommand our clients to set up a stop loss on any position they initiate to prevent significant losses.
It is a crucial aspect of the membership. We never send signals regarding an exit on stop loss. Indeed, we don't manage this kind of exit because we know that our members already have the information (from our previous signals). It is always dangerous to manually manage an exit on a loosing position.
It is typically an adjusted stop loss. We move our stop loss in the direction of the trade in the case of a winning position. It allows us to lock in profits as soon as possible. As we are automatically stopped out on a trailing stop, we don't send any signal. We suppose it's the same for our clients.
It is basically what we call a take profit. The trader identifies a good exit point before he opens a position. If the potential profit is less than the risk involved (stop loss), the opportunity is most of the time abandoned. We always indicate a target in our signals and we strongly recommend that our members use it.
We usually send signals monday to friday between 05:00 to 23:00 GMT. You may receive a signal anytime in this timeframe but you can expect more signals in the morning (London time, between 06:00 and 11:00 GMT).
It is a difficult question. Most of the time, we enter the market with a stop order. Market can accelerate very quickly after the stop has been triggered. Thus we recommend our members to take the signal as soon as soon possible upon reception. It is the reason why we use SMS signal to inform our clients in a matter of seconds after a position is opened.
Yes we do. Whenever the market offers a long term opportunity (with no immediate targets), we try to enter several times along the way. For our clients, it's a new entry position each time with a dedicaded number. But it you work with us for some time, you will easily identify the long-term position with its multi-entries.
Forex market has recently made a habit to open on sunday with important gaps. It is something we do not accept as regards to our trading strategies. Hence, we try, as often as possible, to close all our positions at the latest friday evening (20:00 GMT). Whether we decide to keep a position or not, we inform our members before the market closing.
To take advantage of our signals service, you have to follow 2 steps. The first one is to open a free account through our registration form. This allows you to join our traders community. You will receive our newsletter once a month. Second step : as a registered user, you may subscribe for a membership in order to receive our realtime forex signals (by SMS and mail). You can take advantage of our 7 day trial period.
Actually, we are obliged to charge a very small amount in order to be able to track the payment of our client through Paypal. Besides, you may consider this amount as a setup fee. Keep in mind that we have to pay about 5€ per client to our SMS provider every month. Unlike most of our competitors, it was our decision to cover the first 7 days charges to let our client discover our reliable service at no risk.
We currently work with Paypal as a payment processor. We expect to add other solutions soon.
Text messaging to countries with advanced mobile networks is far more reliable. It is why we have some trouble to send SMS to some countries. Technically, for a message to be delivered, the handset must be active, able to receive texts, in reach of a transiting tower, with an active account with a provider - and this is only after we have sent the message to the provider. It is complicated, and dependent on each part. It can change from moment to moment. We cannot garantee that the SMS will be delivered all the time but as for now, this service has given good results.
You may use our contact form to ask us any question that is not covered here. We usually answer the day of reception. |
