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| Expert4x USA FOREX ALERTS |
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QUESTIONS AND ANSWERS ABOUT THE ALERTS
2. I have never traded the Forex market before. Do I need to be experienced to use your alert service? 3. What do you mean by 24hour set and forget? 4. How should I start using your alert service? 5. What is the difference between market orders and pending orders? 6. Besides the new daily alerts I see there are Open deals – what do I do about these? 7. Closed Deals 8. Position sizing 9. How do I translate 7:00pm New York to my own local time? 10. How does the alert service work 11. Managing our alerts 12. Your track record 13. What can I expect? 14. Techniques used 15. Currency pair used 16. My results do not agree with yours. Why not? 17. What kinds of stops do you use? 18. What is Hedging? 19. How do we make money? 20. What’s the basis of our trading technique or trading plan? 21. How should I apply money management? 22. When should I cash out on positive deals? 23. How many trades do you take on average every day? 24. How long do you typically look to stay in deals? 1. Who is Expert4x? Expert4x markets a number of scalping and long term Forex trading techniques and provides these Forex trading alerts to show that the principles that the courses are based on, work. We trade 24 Hour set and forget trades at 7:00pm New York whenever the Forex market is open and publish and email. You merely have to try to copy our trading activities exactly so that you achieve the same results as us. For more information on Expert4x and its services please follow this link www.forextrading-alerts.com 2. I have never traded the Forex market before. Do I need to be experienced to use your alert service? We have created an introduction to Forex trading system whereby you can experience a start to Forex trading, by merely copying our trades into a risk free demo account with the guidance of an informative website and guidance videos. On the main page of our website we have a special section for new traders:- This is an ideal EARN while you LEARN opportunity 3. What do you mean by 24hour set and forget? 24 Hour set and forget means that when we enter Forex transactions at 7:00pm EST – New York, we do not touch or interfere with the transactions until 24 hours later when the alerts possibly have been:-
• activated, • amended or • re-instated and remain valid. This approach is ideal for someone who only wants to spend a small amount of time trading the Forex Market every day. 4. How should I start using your alert service? Firstly read the instructions carefully. Then watch the short videos and start trading using a demo account. Make sure that you are achieving the same results as we are by comparing your results to our everyday for a week. If you have achieved the same results as us it proves that you are using the alerts correctly. 5. What is the difference between market orders and pending orders? Market orders are used when you enter your deal directly into the live Forex market and it becomes active immediately. Pending orders allow us to enter the market when the price reaches a specific price level in the future. WE USE PENDING ORDERS FOR THE ALERTS 6. Besides the new daily alerts I see there are Open deals – what do I do about these? Good Question: Open deals are very much part of the alerts. They are alerts that have activated and we have decided not to cash these alerts in yet. They are therefore open deals which will be active for at least the next 24 hours before we review the market again. If you have been entering our alerts from the previous days these open deals will not be a problem as you should already be in those deals – just watch them for changes to the targets and the stops. If you are however new to the service it is important that you enter these deals when you start joining our alerts. This is because some of the deals maybe hedged or part of potential hedges of the normal alerts. When entering the open deals please enter them at 7:00pm New York as market orders so that they activate immediately and that you are in line with our alerts. 7. Closed Deals Closed deals show you the final results of our alerts. Closed deals are reflected in a copy of the actual trading account. There are many ways alerts can appear on the final trading account:
• Alerts can be activated and the transaction is stopped out. When this happens a green colour appears on the stop loss value and a loss is recorded for the transaction. • Alerts can be activated and the transaction hit our target. When this occurs a red colour highlights the target section and a profit is recorded for the transaction. • Alerts are manually closed at either a profit or a loss. This happens when we review all the transactions at 7:00pm New York and we may decide to close the transaction based on changed market conditions in the last 24 hours 8. Position sizing Position sizing refers to the number and size of lots you use when trading. In general we do not want to risk more than .5 to 1% of our account on any 1 trade. We would suggest that when starting our alerts that you demo trade them using the smallest lot sizes you can (0.1) and then slowly increase this as your confidence levels increase. 9. How do I translate 7:00pm to my own local time? Please use a site such as http://www.timeanddate.com/ to translate 7:00pm New York into your local time. 10. How does the alert service work We trade the Forex market using a 24 hour set and forget approach (See the question on set and forget trades). In this alert service we are giving you the chance to copy our trading decisions by copying our pending orders, any changes to open transaction at 7:00pm New York every day. To make sure that you are in line with our results you must copy the information at 7:00pm New York every day. 11 Managing our alerts Our alerts are given on a set and forget basis which requires no action by you for 24 hours. 12 Your track record We started the service at the beginning of February and achieved +400 pips during February. Please log into the members section to see regular updates on how our alerts are progressing since then. 13 What can I expect? Our goal is to achieve +500 pips a month. So use 500 pips as a realistic goal. This does however not mean that every deal that we do will be positive. Most of them are expected to be negative but because we lose less on negative deals than we make on positive deals our overall result is generally positive. So only use our alerts if you are prepared to lose some deals as well as make nice gains on the other positive deals. 14 Techniques used We use a combination of techniques to identify good longer term transactions. One of these techniques is the Long Candle Forex trading technique – more details about this technique can be found at www.longcandleforextrading.com We also use concepts of hedged no stop Forex trading whereby certain currency transactions are hedged with the same or other Forex crosses. Because of this it is very important that you trade ALL our alerts given and do not selectively trade certain transactions. We also use a Balanced Portfolio approach which ensures that there are a good balance of hedged, bounce, breakout, channel trading, strengthening and weakening US dollar transaction in our recommendations. 15 Currency pair used We use any currency pairs available through a standard MetaTrader broker. 16 My results do not agree with yours. Why not? There are many reasons why your results may not agree with ours. Reason 1: You are not comparing our detailed results with the detailed results that you are achieving and identify the exact reasons for any discrepancies. So you need to see which transactions agree, and which ones don’t to refine any differences. You then need to identify the reasons why there are differences from the reasons below. Print out your trading account and tick every item to ours. It is not enough to just say your results are different from ours. To make this service a learning experience you need to find the exact areas of difference and possible reason for them. Reason 2: You are not entering the alerts at 7:00pm New York. This would mean that you are not actioning new alerts, changes in open positions and closing open positions when you should be. Reason 3: You are entering the deals incorrectly. For example some clients use market orders instead on pending orders. Others make mistakes in the values they enter. 17 What kinds of stops do you use? When we are hedging the market we use no stops. When we have a single Deal outside of our balanced portfolio then we will typically use a stop of 60 to 120 pips. 18 What is Hedging? Hedging is when a trader is simultaneously buying and selling the same currency at the same time. This doesn’t have to necessarily be the same currency pair. For example, one could be selling the EUR/USD based on USD strength and simultaneously buying the GBP/USD based on USD weakness. 19 How do we make money? We make money by taking advantage of where the market moves. By cashing in on positive deals when they happen and keeping a daily balanced portfolio; we are always putting ourselves in the flow of the market. We do have negative deals that we hold onto at times but we compensate by placing orders that do go positive. Then when the market bounces which it does 80% of the time we then give those negative orders time to go positive and often they don’t turn out to be a losing trade or at least it’s a very small loss. 21 What’s the basis of our trading technique or trading plan? We are breakout and bounce traders. We love to trade in channels and in strong trends. The Long Candle trading technique is our primary trading plan with quite a bit of modification but the trading principles are found there. 22 How should I apply money management? In general it is a good idea to not risk more than .5% to 1% of your account on a single trade. Determining this can be difficult at times especially when we are in hedged transactions that have no stops. For the 1st few weeks we recommend trading in a demo account and getting accustomed to this service until you are fully comfortable with it. 22 Should I take every trade that you tell me to take? Yes, because we use a balanced portfolio approach and hedging techniques you need to action all changes we make to our alerts and open positions at 7: 00pm New York every day. Please demo trade the alerts until you are perfectly happy that you are getting the same results as us If you really only want to selectively take trades that appeal to you the most on a daily basis than only use trades that have a stop. We would however suggest that you trade all the trades using the very smallest position sizing. 23 When should I cash out on positive deals? Typically if all of the trades are doing really well and you can lock in a great gain by cashing everything out then certainly do so at any time you feel inclined. Otherwise you can wait to hear what we’re doing or wait until the take profit target is hit. We cash out our positive positions as close to the daily publishing time as possible which is 7:00 EST New York time. 24 How many trades do you take on average every day? On an average daily basis we should have around 0 to 6 new trades to enter into the system. Many of these do not activate, so on average 2 deals activate on a daily basis. 25 How long do you typically look to stay in deals? We stay in deals for 1 to 3 days. Often when we have a highly profitable trade we will cash it out to bank the profits on a daily basis and set a new pending order to re-enter the trend to catch it should it continue. |
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