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, |
