Training / mentoring programs

[macman]

As some of you may know, I am opening up my training/mentoring to a wider audience.

My new commercial website at http://www.fx-works.com is in the last phase of building and is due to go live early in 2012.

I am now accepting pre-bookings for the FREE 30 day trial, so if you are interested, drop by and have a look. Details of the courses etc are available.

I have also opened up the CAT (Computer Assisted Trading) section to free trial members. This details one full year of trading a robot and shows the intervention needed during the year.

Feel free to leave any questions or comments you wish.

Macman

[lhDT]

Hi Macman,

Do you have a newsletter or something to stay updated about your website ?

Cheers,
Lionel

[Habib_forex]

30 days trial ?

so its not gonna be free after 30 days ?

hmmm.... to bad if its not free...

coz i recognicze good system and bad system for the way people givin it...

usually great people give somethin good for free....

but that is just me thinkin....maybe u hav another way of thinkin...

[macman]

I have received several questions by PM, so am posting this reply which covers most of them.

Hi,

Thanks for your interest, let me answer your easy questions first ....

Q2: Have you been doing this for a while?
What success rate do your students have?

Since the early 1970's !
Students should be getting somewhere between 65% & 80% correct hit rate

Q4: Does a student learn to trade on his/her own, without your ongoing support? Or are they "hooked" on your ongoing signal services etc if they want to be profitable?

The emphasis is very much on learning to trade for yourself. Also I don't provide a classic signal service, but do the 'heavy lifting' for (part-time) DayTraders who work on 14 currency pairs. The idea is you receive an email and decide for yourself if you want to take the trade. This saves you many hours of chart watching a day.

Q5: Do you teach primarily intraday in-front-of-the-screen-all-day methods? Or are your methods also applicable to "analyze & place orders once a day" trading? I currently still work on a job so staring at the screen isn't an option unless/until it starts paying for itself.

The course is designed to be modular, so the first part (DayTrader) is exactly for people who also work full-time. Basically you will be trading Daily charts on 14 currency pairs.
The DayTrader Plus module adds to the knowledge and includes hourly charts suitable for someone who has more screen time available. As these two are ' first cousins' you can also 'mix & match'.

Q6: What type of results / returns are typical? Do these results vary widely by student (because they're so discretionary) or do your students get fairly consistent results?

A DayTrader Plus (full-time) student will be looking for an AVERAGE of 1%-2% return per day.
A DayTrader (part-time) student will be looking to take what the market has to offer, typically 100 - 200 pips per week.

Q7: Do you offer a satisfaction guarantee?

That is what the free trial is for. After 30 days you decide if you want to join up. There is no pressure, if you decide it is not for you, that's fine. During your 30 days you will have seen a couple of things which will be of interest/use to you.

Now to the slightly more complex answers ....

Q1: Is your process mechanical or does it require lots of "guess and gut feel" judgment calls?

On the face of it, a simple question but it shows the underlying problem for part-time traders.
Lets do some maths ... assume you did nothing else but watched charts for 10 hours every trading day for a full year .... you would rack up something like 50 hours/week x 50 weeks/year = 2500 screen hours. An experienced trader may well have 10,000+ screen hours during which time the brain learns to automatically recognize patterns. This is the "guess and gut feel" you talk about - the way the candles form will be subconsciously telling an experienced trader whether the trade is likely to be profitable or not and this is something part-time traders just do not have.
My own DayTrader strategy is based on fixed criteria, so is mechanical, but as explained above, the more experienced you are the better will be your interpretation of a trade.

Q3: What in your program makes it worth EUR 145/mo? I would sign up in a heartbeat if it was a one-time EUR 995 fee. I'm not thrilled with the idea of spending over EUR 1700 per year.

Firstly the education fee (EUR 995) is a once only fee, it is not recurring.
The monthly fee (EUR 145) is a subscription, which you can cancel anytime you feel you no longer need the support on offer.
So, you could sign up for the training course (EUR 995) & only take 1 months subscription (EUR 145), making your total outlay EUR 1140. It all depends on how much experience you have and how much help you need. However, bear in mind the charts used are not simple moving averages and are quite complex, so you will need time to ask questions & practice before going live.

I hope this has made things a little clearer for you.

Best regards,

[macman]

Hi Macman,

Do you have a newsletter or something to stay updated about your website ?

Cheers,
Lionel

Hi Lionel,

Thanks for your interest.

The site is scheduled to be ready early January, so we don't have a newsletter.
The next step is you will receive by email an offer to take up your free trial, sometime in January - I see that you have registered, so you will be in the first or second batch.

As the live lessons are limited to 15 students, the free trials have to be done in groups.

Best regards,

[macman]

30 days trial ?

so its not gonna be free after 30 days ?

hmmm.... to bad if its not free...

coz i recognicze good system and bad system for the way people givin it...

usually great people give somethin good for free....

but that is just me thinkin....maybe u hav another way of thinkin...

Is anything really free?

I have decided to answer this post, as it touches on an important point.

In our society, we all have bills to pay, so working for free becomes impossible unless someone else is picking up your living costs.
So, how are 'free' lessons in retail forex financed?

Some brokers offer good free lessons, but only to customers with a live account. So basically you show the broker the colour of your money and he will educate you. A fair exchange, but your education may be weighted in favour of the broker.

Several sites like http://www.babypips.com offer excellent online lessons, these are financed by ads placed by brokers - nothing wrong with that if you are happy to have brokers deciding if your site survives or not.

Also there are many mentoring sites who set you up with a particular broker(s) - what they don't tell you is that they receive a commission from the broker for every trade you take - win or lose. Clearly advising students not to trade is financially negative for these sites.
Unethical? - you decide.

Just to be 100% clear http://www.fx-works.com is not sponsored in any way, shape or form by any outside influences. There are no broker kick-backs here.

p.s. The word 'criminal' is added automatically by the software here ......

[SteveHopwood]

In case there is any doubt despite my recent pm to all but the newest members here, macman has my support.

macman is a highly valued contributor whose expertise has guided some of us for several years. He is also a genuine and honest man.

This is a freely available 'Commercial' section. In the future, there will doubtless be some rubbish posted here. What macman offers is not amongst the rubbish.

And no; I am not on commission.

[nanningbob]

I second that Steve, Macman is clearly a person you would want to listen too.

[ervichov]

Sup Macman, I would like to trial this 30 day program and stay on if I like makes sence to me.

How do we do this?

[macman]

Sup Macman, I would like to trial this 30 day program and stay on if I like makes sence to me.

How do we do this?

Hi,

Thanks for your interest.

Just go to the new website at http://www.fx-works.com and register on the Overview page, which you get to by clicking the About menu item or use this direct link:
http://fx.fx-works.com/WP/?page_id=2244

As the live lesson seats are limited, I am taking interested guys on the Trial in batches of 10, on a first come first served basis. Everybody will get a trial place, and you will receive an email when a place comes free.

The Overview page will hopefully give you a good idea of how I have structured the course.

Best regards,

Dave
aka Macman