Frequently Asked Questions
Q: I read somewhere that your trading
method has really big stop loss levels, is that true?
A: Yes and No. My trading method basically comes down to two
different types of trading patterns. One is a break out of
consolidation and the other is entering on a pullback or
reversal/bounce of support or resistance. The break out of
consolidation trade can have a larger stop loss if I use price
support or resistance as the stop loss, but I have a technique for
minimizing the stop loss by waiting for a pullback after the break
out and then entering the trade. This greatly reduces the size of
the stop loss and in most cases is no more than 30 to 50 pips stop
loss. Many times new members or free trial members don't completely
understand my trading method and they automatically assume that all
the trades have large stops which isn't true. Some of the free video
on this website will show you the pullback opportunity to reduce the
stop loss size.
Q: What is the average pip profit per
trade?
A: This varies with the activity in the markets. There are times
when the markets are in consolidation and price just wont move very
far. During these times I will look to only bank 15 to 30 pips per
trade. I look for what I call are "Realistic Profit Targets". This
means to me that I can only expect to make what ever the market is
will to give at any given time. There are other times when the
markets finally break out of their ranges due to the news or other
economic factors and I look for larger profits. Such an example
occurred on Friday July 11th 2008 on the GBP/USD. I traded that pair
with other members and I made just over 70 pips on
that trade alone.
Q: How will I know when to enter the
trade and when to take profits?
A: My trading method has very specific entries, targets and
stop loss levels. The Real
Deal Traders package will also teach you the same entries, targets
and stop loss levels.
Q: How long does each trade usually take?
A: I look for two different profit target to maximize the profit
potential on each trade.
Some trades can reach both profit targets within 30 minutes.
Other times it can take two to four hours. And on occasion
we might hold a trade for 12 hours. Each trade is very
different but the approximate time is one to three hours.
With our system you can set your stop and profit targets and
leave it alone.
Q: How many pips per day
can I expect to make?
A: I cannot promise how many pips you will make because of many
different factors. Things like a slow or sideways market. Or maybe you aren't
at your desk at the time a trade is entered. But... if you watch the
main currency pairs and do most of your trading during the London
and New York session, you should be able to make at least 40 pips
per day providing you are able to put in the time to trade.
Q: When you post your trade calls in the chat room are they text only or is there a sound alert?
A: When I post a trade call in the chat room, the text is colored to distinguish it from the rest of the text in the chat room. If it is a buy signal the text will be in green. If it is a sell signal the text will be in red. Each trade also is posted with a sound alert. All members will hear the words, "Order Entered." That is the sound alert that is posted along with the colored text. This helps many members because they don’t always have the time to sit in front of the computer screen. All they have to do is turn up the speaker volume.
Q: Do you change your stop loss levels after you enter a trade ?
A: No. I never change a stop loss level after I enter a trade. If I am wrong I will admit it and move on to the next trade.
Q: How many trades will be open at the same time?
A: At times there will be more than one trade open at the same time. I don’t avoid finding a new trade when I have an open trade. I continue to look for opportunities and it also helps members who come into the chat room at different times of the trading day.
Q: Are all of your trades opened and closed in the same day?
A: Yes. I am a day trader and I prefer to be flat at the end of every day. However there are times when the market is lacking the momentum needed to fulfill the profit targets I am looking for and I have to hold for more than a few hours to close it. Occasionally I will hold a trade for more than 12 hours. It is not often, but there are times when the market will remain in consolidation longer than I expect.
Q: Do you trade during news announcements?
A: Yes. I enter trades before the news and I enter trades after the news. It is not a problem as long as I correctly identified the trade. You will see in many of my news trading videos how I trade before the news and the news that’s released is the momentum to move price to my targets. Other times there is not a trade available before the news but once it is released I can identify a trade. Each time it’s different.
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