Forex FAQ to Take the Mystery Out of Trading Currencies

3rd blog post, forex FAQforex FAQ

This forex FAQ contains questions and answers about buying and selling currency

Archives Q. How can I find the archives of recorded teaching sessions?

A. Go to golive.im. Click the X to delete the panel on top of the page. Scroll down to the green HFX button. Click on it. Scroll down to the educator you want. Click on his/her name or picture. Scroll down and click on Favorite Sessions.

Alternately, you can go to Recorded Sessions and enter the subject you are looking for in the Search Video box.

Binary trading Q. What is binary trading?

A. In HFX we use binary trading. There is either a Yes or a No. If it is Yes, you earn a fixed amount of money. If it is No, you lose that same fixed amount of money.

We either put (sell) or call (buy). If you are traded as if the market were going up and it did, you would gain a fixed amount of money. If the market went down, you lose a fixed amount of money. It does not matter how far the market goes, you still lose the same amount of money.

Bollinger bands Q. What are Bollinger bands?

A. A Bollinger Band® is a technical analysis tool defined by a set of lines plotted two standard deviations (positively and negatively) away from a moving average of the security’s price, but can be adjusted to user preferences.

Note that when they are horizontal and parallel, the market is consolidating. When they are not horizontal, the market is trending.

Bonuses Q. Should we take bonus when brokers offer them?

A. A broker may offer you a bonus of, say, $1000 if you open an account with them. Do not do that until you have read the fine print and are okay with the conditions. They may not let you withdraw any money until your account has quadrupled. You may to turn over your account three times.

Pay attention to the conditions.

Brokers Q. There are many brokers who buy and sell currency pairs. Which forex broker should I use?

(Editor’s note: I presently am studying a forex course in which many students are more successful than average. Many of the students are being mentored by someone or some people who have already started trading. I asked my mentors the question above and one of them gave me the answer below.)

A. I would have recommended Videforex since it’s Matty’s #1 broker, but it’s been crashing during his live trading sessions. IQCent is Matty’s #2 broker, and it hasn’t been crashing recently. That’s why I recommended IQCent. I’ve been researching Platinum Options, but I still have a couple unanswered questions about them, so I can’t recommend them yet. I suggest you jump into Videforex if you don’t mind the occasional crash during Matty’s live trading session, or IQCent.

Note from Mar.15 –> Matty’s main broker is Videforex. He teaches in four different one-hour time slots a week. There are so many students suddenly trading on Videforex as he teaches that the website cannot handle the huge increase it traffic. It has crashed so many times recently that I don’t even trade with Matty live any more.

My broker is Videforex. I don’t have enough money to set up another one. Videforex would charge my a 20% surcharge for closing my account. So, I can’t take my money out to go to another broker.

forex FAQNumbers Q. What are those forex FAQnumbers beside the call & put buttons on Videforex?

A. In the example to the right, 10.00 is the amount of money you traded. 6.00 is the amount you earn if you win the trade. $6.00 is 60% of $10.00. Look at the image on the left. You traded with USDCAD. It has a payout of 60%.

Payout means the amount of money you get if you win the trade. In this case, the other 40% goes to the broker for his expenses and profit margin.

60% x 10.00 = 6.00. (BTW, IM Academy recommends that you do not trade unless the payout is at least 70%.)

1.21476 is the value of USDCAD at this very moment. I.e., one USD is worth 1.2476 CAD.

If you’re watching Matty Pips the educator, he will call out the last 3 digits of the currency. For instance, he may tell you that we will put if the price gets up to 480. That means he is hoping that the price is no higher than 1.2479 when his trade closes.

Calls and puts Q. What are calls and puts?

A. A call is just another name for a buy and put is another name for a sell.

forex FAQforex FAQforex FAQCalculator Q. Where can I find a daily interest calculator?

A. https://www.thecalculatorsite.com/finance/calculators/daily-compound-interest.php. This calculator can help forex traders dream big. Watch this video  to see what would happen if a forex trader were to increase their account by 5% each day.

Learn more about how compound interest should be used when trading forex.

Candlesticks Q. How do you use candlesticks when you trade?

A. In my personal system I use 5 minute candles. That means that a new candle forms every 5 minutes. My trades last 3 minutes. That means that I must start a trade when there is more than 3 minutes left in a candle.

If you look at the white on red number in the image to the right, you will see that there is 3 minutes & 27 seconds left in the current candle. That means I have 27 seconds to decide whether or not I will take the trade.

Note: The longer a 5 minute candle is, the faster the market is moving. Small candles with long wicks suggest low market volume. As volume increases, price action becomes more predictable. That in turn will increase your trading success rate.

Trading with candles Q. Should people use candles when trading?

A. One of my mentors said, “I’d suggest using the line chart for binary trading instead of candles.” He says that he views that trade with candles & then uses the line for accurate millisecond entry.

Also, I noticed a big problem with candles in Videforex. Looking at this image, one would imagine that the price between the call and put buttons would be the same as the current price as as expressed by the white on red 1.19344.

I’ve seen the last 3 digits differ by as much as 11. This can cause confusion when deciding the minimum or maximum entry price.

CashTrap Q. How do you utilize CashTrap?

A. forex FAQWhen you use CashTrap, you must have lots of patience. You look at the Hourglass indicators such as the those you see in this EURJPY image. Each indicator gives points. They have to add up to enough to justify a trade.

The red diagonal line indicates a downward trend which lines up with the Put (sell) arrow. This trend line gives one point. The Put arrow gives 1 point.

There will be 9 indicators to look at. I add up the points for each one.

For more details, go to the CashTrap blog post.

Club Q. In the domain name daytradingforex.club, what is the significance of “club”?

A. Students of the IM Academy will usually belong to several Facebook forex trading groups. Each one can be considered a club in which the various members are helping each other. It’s part of the culture of these groups. We want to help each other succeed. Without the Facebook groups would be much more difficult to succeed when trading forex.

When I ask my main group a question, I rarely have to wait more than an hour for an answer. It is usually much faster than that.

Community Q. How important is it to have a community of other forex traders to communicate with?

A. It’s virtually essential. Succeeding at forex trading is complicated. When I have a question, I simply send a text message to one of my Facebook forex groups. I usually have an answer within an hour.

Compound Interest Q. Please explain compound interest

A. Watch this 3 minute YouTube video.

In the video below, I describe 2 of my successful trading sessions. I explain how I am planning on using that model to make tens of thousands of dollars in a year.

Confirmation Candle Q. What is a confirmation candle?

A. A confirmation candle is a long candle that, under the right circumstances, suggests a trend. A long green candle would suggest an up trend. A long red candle would suggest a down trend.

When a resistance line becomes a support line, a long green candle would suggest an up trend like you see in this USDJPY chart. The red horizontal resistance line at R more or less became a support line at S. Look at the tiny green candle to the right of the long green candle at S. It is a confirmation candle suggesting that the market is trending upwards and this is a call opportunity.

The opposite is true. When a support line becomes a resistance line, a long red candle breaking through it would suggest a downtrend. Look for a red confirmation candle to the right of that long red candle.

(I like drawing support & resistance lines on both the one minute & five minute candle charts. Where I see candle movement up through a resistance line or down through a support line, I look for confirmation candles. Then I make a trade and am prepared to rollover up to two times.)

Let’s look at another example of a confirmation candle. A long blue candle had a breakout at A. The red arrow is pointing to a blue candle. It is a  retest against the resistance line. That blue candle is a confirmation candle. I would make a call trade at the end time of that blue candle.

Consolidation Q. What is the significance of consolidation?

A. You may be looking at a currency pair in Cash Trap and conclude that it is not worth trading. The Currency Strength Meter and the EMA do not line up properly.

Before rejecting that pair, look at Cash Trap a bit more closely. Are the Bollinger Bands coming together and are they parallel? In this image they are. That means that you may be able to break the Cash Trap rules and trade anyway.

Confirm that by looking at the candles of the pertinent currency pair. Do they look like they indeed are consolidating. Looking at this image, you can see that they are consolidating.

So, you quickly mark up the support and resistance lines. Look at the white lines in this image. If you can ignore the EMA and Currency Strength Meter on Cash Trap and still get 5 points, this could be a very good trading opportunity.

Just trade in the direction of the white lines. Be prepared to roll over.

Quick note about the Bollinger Bands: Remember that when the Bollinger Bands begin to come apart, they are trending. When you begin to learn about how to trade trending markets, the Bollinger Bands may help you decide when to begin trading.

Delorean Q. What is Delorean?

A. Delorean is an indicator that, among other things, uses 5 different exponential moving averages (EMAs) to help find trading opportunities. The different colours of the EMAs tell how many of the most recent candles were used to create the EMA. The table below tells how many candles were used for what colour.

Colour # of Candles
Yellow 5
Red 13
Aqua (light blue) 50
Grey 200
Dark blue 800

In Delorean you will see an arrow pointing at a candle. You will look at the two arrows to the left of the arrow. Your strategy is to ask yourself 4 questions. If the answer to each question is Yes, you should take the trade.

The 4 questions are:

  • Is the red candle bigger than the blue?
  • Does the red EMA line cut through both candle bodies?
  • Are the grey, aqua or blue EMA lines above or cutting through  the candles?
  • Did you make sure that none of the grey, aqua or blue lines are not closely below those 2 candles?

Remember to be patient. Let the market bring the trade to you.

If you are not in profit after 3 trades, pull out of your trading session.

For those of us who like HFX and binary trading, Delorean has a scanner called Hyperdrive. It works with 5 minute candles.

One thing you can do in a bullish market with Hyperdrive is watch a green candle to the left of the arrow temporarily becoming red. If it goes down to the yellow EMA, it will almost always switch to a green candle. Usually that will give you an immediate trading opportunity.

For more information, watch this video. Also, see the Delorean Cheat Sheet.

Divergence Q. What is divergence?

A. Divergence is the price movement process when a currency pair moves in the opposite direction of a technical indicator, usually an oscillator such as an RSI. Divergence warns that the current price trend may lead to a price-changing direction.

Divergence indicates change in the movement of price. The price of a currency pair and the trader’s indicator are supposed to move in the same direction or indicate the same trend. When they do not agree with each other, the result is divergence.

Divergence warns the trader not to believe in the price movement as the situation may get reversed, i.e., the asset’s price will start moving in the opposite direction of the current trend.

In this image, the Cash Trap candle chart suggests an ongoing consolidation. However, the RSI below suggests a loss in momentum. This suggests an upcoming bear market. As you can see in the upper right-hand corner of the candle chart, there indeed was a bear market.

If I ever see another divergence like the one in the image, I would make a put trade just after the peak where you see the RSI going down on the far right.

You really should have  confirmation that it is appropriate to make a put trade. Look at the far right corner of the candle chart above. You see a bearish engulfing candle. It is a red candle that is much larger than the previous (green) candle.

This image from Trading View shows things more explicitly.

At point A on the RSI you see that the line was far above the 60% line. You drew a line down to the point where the RSI goes below the 60% line.

This is indicative of a definite downtrend. My trades would mainly be put trades.

The RSI shows downward momentum. The corresponding candle chart does not show downward momentum. Thus you’ll understand the extreme importance of understanding the concept of divergence.

Drawing on charts Q. How can I draw lines on my broker’s charts?

A. Suppose you are trading the EURUSD on the Videforex chart above. You are waiting for the price to come down so that you can make a good call trade. You look at the last couple dozen or so candles and find the lowest point.

Click on the blue line as you see in the upper left-hand corner of the image above. Click at the beginning and then at the end of what you think would be the appropriate support line.

When I want to draw support & resistance lines, I like to draw lines for the one hour candles, then the fifteen minute and then the five.

Note that when you hover over one of the lines you drew, you will see the price to the right.

Drawing in Hourglass

This long-term chart started to consolidate at point C. After 2 waves the support from point S became the resistance at point R. Once you realize that it is consolidating, it is possible to “play ping pong”. You can call at the trough of the waves and put at the crest.

In the lower drawing we see consolidating starting at X. We see the old support line R line that became a line of resistance. The bottom of the red candle body at Y and the bottom of the red candle wick at Z became the new lines of support.

The shaded red rectangle became a resistance area and the shaded green rectangle became a support area. When a candle on the way down gets into the green area, you can make a call. When a candle on the way up gets into the red area, you can make a put.

Educators Q. How do you find the educators for this forex course?

A. Log into im.center. If you drag your screen wide enough, you will see some links in the left-hand column. Click on Go Live. Click on the photo of the educator you wish to see.

If they are not live at the moment, you can still scroll down and watch their recorded sessions. I like to watch the Favourite sessions.

Trading with educators

About 4 times a week each of the educators will be trading live.  That means that you can mimic their trades while they are doing them and have a much higher probability of success.

Schedule of when educators are trading live

Go to Go Live.  Scroll down to HFX graphic. Click on it.

EMA Q. What is an exponential moving average (EMA)?

A. The green arrow you see here points to the EMA. It is the average price of the past 200 candles. The average is exponential meaning that the more recent prices have more weight. It is a more accurate way of expressing an average than a simple moving average.

You can tell by looking at it that the price is trending downwards.

Engulfing Q. What is an engulfing candle?

A. An engulfing candle is a candle much larger than and in an opposite colour to a previous candle. Here the red candle at A is much longer than the previous green candle. It suggests that a downward trend could be beginning. Use the 3-candle rule. After the third red candle this could be a good place to make a put trade.

Enrol Q. How to I enrol in the IM Academy?

A. Talk to the person who told you about the IM Academy or contact a person who has an IM Academy forex blog. They will help you. It’s too complicated to do on your own.

Besides that, they will likely get you joined to a Facebook forex trading group. It’s part of the culture of these trading groups to help each other out. We ALL need help once in a while.

Furthermore, if they sign up two people to join the academy, they will get their monthly tuition paid as long as each of those people is paying their own monthly tuition.

This blog is mainly about the HFX (high frequency forex) trading system. The costs of enrolling in this course is in American dollars as follows:

Enrollment — $234.95             Monthly — $174.95.            Hourglass — Around $22.

To pay for Hourglass:

  1. Log into your im.academy account,
  2. Click on Shopping Cart in the left-hand column,
  3. Scroll down to Hourglass and click on the Add Now button,
  4. Follow instructions.


Enter a trade Q. How to I decide to enter a trade?

A. Two ways: 1 . Look at the Entry line for the currency in the alert level. In the example here, you would most likely want to put when the price were 240 or higher. 2. You can use the support or resistance lines.

Regardless of which system you use, for a put wait until it is “x” or higher. For a call, wait until it is “x” or lower. Use discipline & wait. It is better to lose the opportunity than lose a trade.

Facebook group Q. How important are Facebook groups when working with IM Academy?

A. When you first sign up with IM Academy, the person who helped sign you up most likely added you to a few forex Facebook groups. Members of these groups are students within the IM Academy.

To find the groups to which you belong, go to the icons in the right-hand corner of your Facebook page. In this image, you should click on the icon with the 2 in the red circle.

You will discover that the members of the group seem to want to help each other. I don’t think I’ve ever asked a question or made a comment that was not responded to by a group member.

I even belong to a group that has regularly scheduled Zoom calls. On it several highly successful forex traders trade live and explain what they are doing.

If you think there is another group to which you should belong, ask the person who helped you enrol in IM Aacademy.

Failure Q. Is there much failure for an IM Academy forex trader?

A. There is no such thing as a forex trader who is successful at EVERY trade. Even the educators who teach the IM Academy students don’t have to have a success rating of more than 70%.

They are all tested live to make sure they consistently call at least 70% of the trades correctly. That means they can get hired if their failure rate is as high as 30%.

From time to time when you lose, study each trade to find out why you lost. Make it into a learning experience.

Fast Trading Q. How fast is Matty’s style of trading?

A. If you are going to use Matty’s point system  for trading, it may be too fast for some of you. The candles are 5 minute candles and the trades will be over in 3 minutes. You must make the trade before a candle is 2 minutes old.

So, you have to do some things fast. You should bookmark Hourglass, Currency Strength Meter, Forex Factory News and your forex broker. Then you will have them  available so that you can click their windows when you need them.

forex FAQSuppose you are listening to Matty live and he says he is going to call USDJPY when it gets down to 551. On paper just write down UJ c 551 quickly so you won’t miss anything. On the top of that same paper you should have written down 1, 2 and 3% of your broker account. You should not let your account  increase by more than 8% a one trading session. So, you should also have written down 108% of the amount in your account.

For instance if you had $707 in your trading account, you would have written $7.07, $14.14 and $21.21 at the top of your sheet of paper. You should also have written down 108% which is $764. You stop trading for the day if your account goes down by 5%.  (That’s $672 in this case.)

Watch this animation to find out how to quickly calculate things like your account going up by 8% or down by 5%.

Suppose you are trading the USDCAD pair that you see in the animation to the right? Let’s say you have decided you are going to call and enter your trade at 501 or less. The white flashes show up every second. So, you have to be thinking fast.

Notice that I called the trade at 500 and won the trade at 503.

Funding VideForex acct. Q. What are some special things to be aware of when funding a VideForex account?

A. You have to fund it with a minimum of 500 USD. Then, if you want to top it up, you have to top it up with a minimum of 500 USD. So, if you initially want to have less than 1000 USD in your account, send everything at once.

One of my Forex friends sent me this: My credit card company kept rejecting it cuz they thought it was a scam. You may have to call your bank and make them allow the transfer the first time because the fraud department might be on it thinking it’s not legitimate. It took me a week of messing around cuz my bank was really confused about it too.

Funding Coinberry

Go to the Google Pay Store and search for Coinberry App. Install it on your smartphone and upload funds.

After I did that, I sent this message to my Forex Facebook friends: I transferred funds to Coinberry. Will it automatically be sent to my VideForex account?

The answer I got back was: No it has to sit there for 24 hours. After that you buy Bitcoin. And you can send it to Videforex after that. Don’t buy the Bitcoin until you’re ready to do the transfer just in case Bitcoin goes down or up. Once you’ve got it done once it’s much easier. The first time is just kind of a gong show trying to figure things out. You can check out YouTube for tutorials also. Every broker is different and they’re all a bit of a learning curve. But, once you’ve got it and you’ve done it a few times it gets a lot easier.

Coinberry to Videforex

Tech support from Videforex emailed me the following instructions for getting money from Coinberry to my Videforex account.

1) forex FAQLogin to your Videforex account and go to Account Funding – choose Bitcoin payment method – click “Fund the account”
2) forex FAQYou will see a long green Bitcoin wallet address that you need to copy into your clipboard.
3) Login to your Coinberry wallet
4) Tap on Bitcoin
5) Tap “Withdraw Bitcoin”
6) Specify the amount of BTC you want to transfer and hit Withdraw
7) Scan the QR code on the platform or copy the address and paste it in your Cash App
8) Complete the send

History Q. How do I find a history of the recent trades I made on Videforex?

A. Check all your opened and closed positions under the chart in trading history. Just sort the information by date, time, status or asset.

Suppose you want to know the results of your trades from today and yesterday. Beneath your chart you change the status to Closed and change the date to yesterday’s date. All of your historical information from yesterday and today will show up.

Horizontal ray Q. What is a horizontal ray?

A. A horizontal ray is a common horizontal line that people use for marking up their candlestick charts. To get started making it, you click on the dropdown arrow beside the trend line icon.

You click on Horizontal Ray and then click on your candle chart where you want the horizontal ray to go. Then you go to the color icon at the top and select red if your line is resistance and green if your line is support.

hourglass

Hourglass Q. Sometimes Hourglass stops working on my Mac. Why?

A. It may be because you are using the Safari or Opera browser. People have been having better results with Chrome or Firefox on the Mac.

Horizontal lines

forex FAQQ. What are these horizontal lines in Hourglass (Cash Trap)?

A. The red & green horizontal lines are  support and resistance lines added by Matty Pip.

These support & resistance lines are added to Cash Trap every half hour (every 6 candles). When they are first added, their ends angle like the image on the left.

MLM Q. Is this course an MLM company?

A. It is possible to sell the course to your family & friends and get residuals similar to what you would with a regular MLM company. However, only 14% of the students take advantage of this feature. Because of the miracle of compound interest, people find that they can make more money by simply trading forex.

Go to this web page for tips on how to promote the MLM aspect of the course. Here’s a link to several videos promoting several different training modules.

Momentum Q. In forex, what is momentum?

A. Momentum is talking about how fast or slow price moves in a given direction in a given amount of time. If we were talking about fast downward momentum, we would see long red candles moving downward as you see in this image here.

The corresponding RSI indicator is shown with this USDJPY example. At the first candle on the left, the RSI was around 20%.

Retest Q. After you have a break out, what is a retest?

A. A retest is what happens after a break out when the trough or crest of a wave return to recent support or resistance lines.

 

Reviews Q. How should I react to some of the online reviews I hear about forex brokers?

A. Below is the response from one of my mentors.

There are not many brokers that are regulated. The ones that are don’t give a lot of options for traders like roll overs Flexible trade duration.

Those broker review sites are very discouraging. I remember when I was new to trading, I spent hours reading nasty reviews on each broker I considered. My experience since then has been great with every broker that I’ve used. These guys are in business, and they are not incentivized to rip off their customers.

Author’s note: It is my educated guess that people like to use the word scam so that they will get more website views and can make money from their advertising. I’ve seen the word scam in product reviews from other industries.

Risk Q. How is risk handled in this website?

A. We never invest more that 3% of the money in our broker’s account in one trade. When the risk is lowest, we invest 3%. When the risk is highest, we risk 1% or else don’t even enter the trade.

As explained in the consolidation blog post, history has taught us that after 4 waves in a consolidation, there is a higher probability that the prices will started trending again. That means that the risk is significantly higher and we should risk only 1%. When looking at the total profits before leaving a consolidation, subtracting 1% from the total is a lot easier to take than subtracting 3% from the total.

forex FAQRollover Q. When trading in forex, what does rollover mean?

A. A rollover is the process of keeping a position open beyond its expiry. In this example, an educator is using Videforex and he says he will rollover his trade. He scrolls down to the very bottom of the page and clicks the clock icon below Rollover in the lower right-hand corner.

The first time you rollover, you get an extra 3 minutes. The second time it’s an extra 6 minutes.

If you opened with a 3 minute trade and clicked the Rollover clock, you’d end up with a six minute trade. If you clicked Rollover a second time, you’d end up with a 12 minute trade.

Suppose he had a put trade of EURCAD that he entered at 459. Near the end of his trade, the price is at 462. He thinks it will go down to below 459. So, he clicks on rollover and adds another 3 minutes to  his trade.

His strategy is to never roll over more than twice for any one trade.

The rules will vary from broker to broker. In order to rollover, you may have to pay around 30% of your invested amount. You may not be able to roll over within the last 45 seconds of your trade.

Matty Pips (possibly the most successful forex trader in the world) will not roll over more than twice for any one trade.

Rollover Rules:

  • Your trade is out of the money (not in profit),
  • You have enough funds (by using rollover your investment amount will be increased on 30%) and
  • Time remaining >1/4 from chosen period. (E.g., If this is a 3 minute trade, you must have more than 45 seconds left in the trade.)
RSI & Candles Q. How to I add an RSI indicator below a Trading View candle chart?

A. 

  1. Open a candles chart
  2. Click on the Indicators & Strategies Icon. (It looks like a fancy fx.)
  3. Enter RSI to the Search box.
  4. Click on Stochastic RSI.
  5. Close panel.

By the way, when a line is at the bottom of the RSI, it is oversold. When a line is at the top of the RSI, it is overbought.

School Q. In what school are you studying forex trading?

A. It’s called IM Academy. The web address is im.academy. The enrolment in this online school is 400,000. That’s as large as the enrolment of all 10 of the largest universities in Canada combined. The school is taught in 20 different languages. To be hired as an educator, each instructor must have a history of at least a 70% success rate investing in their particular area of expertise. In other words, you’ll get an excellent forex education at this school.

The forex educators are usually trading live on their own accounts as they are teaching. They explain the logic behind what they are doing.

At the moment I’m still learning how to trade. I’m trading using play money in a demo account on my broker’s website. I trade like the educator is trading. I have not reached a 70% success rate yet. It’s my goal to not use real money until I have reached that 70% success rate.

Getting started in this course the right way is complex. You have to decide what trading style you are comfortable with. Then you have to select the corresponding trading module. With mine I’m most comfortable with HFX (high frequency forex). That’s a module in which trades last between one and 30 minutes. They are binary. HFX should also have a trading tool called Hourglass.

You really should have someone walk you through the process of getting started. Two of the other students connected with me on a Zoom call. They asked the right questions and walked me through the process of getting enrolled and joining a very helpful Facebook forex group. (It is part of the culture of these Facebook groups to help each other.)

I highly recommend that the person who got you interested in IM Academy walk you through the process of getting enrolled. Alternately, contact me and I will set up a Zoom call with you.

The HFX Academy is possibly the simplest academy to learn. For the right person it’s fun and can be very rewarding. Watch the video about HFX below.

Simultaneously Q. Is it reasonable to have two or more trades open at the same time?

A. Yes. The educator, Taylor Marx, does it. And he is very successful. Last time I looked, he had over $50k in his brokerage account.

Go up and see his drawings on Hourglass where he showed how a consolidation had started during a down trend. He could set up a call at a point in the trough of a wave and simultaneously set up a put at a point on the crest of the wave.

Time Q. Once you have finish your forex course, how much time should you spend trading?

A. Have a session of no more than one hour. Then do something mentally relaxing. Usually have only 2 sessions a day.

forex FAQTime of Trade Q. How do you change your trade so that it lasts exactly 3 minutes?

A. Have Trading set to Turbo. Click the arrow in the Time dropdown box. You can select any digit from one to 30 minutes

Time to Trade Q. What time of day should a person trade forex?

A. There are 3 major forex centres in the world — Tokyo, London & New York. When each of these centres opens for the day, things will be very volatile for several hours. It is best to trade after than volatility has gone down and before the next forex centre opens up. So, the best times to trade in the Pacific time zone are 9 am to 12 noon & 6 pm to 9 pm.

Training Q. Where can I find videos of Matty Pip’s best training sessions?

A. Login > Go live (in left-hand column) > HFX > Matty Pip’s picture > Favorite Sessions > Sunday Night Training (in depth)

Turnover Q. The bottom of this brokerage account says “Total turnover: 1014.91” What is turnover?

A. The turnover is the total of all trades you’ve taken since you opened an account with this particular broker. In this case the person has taken a total of $1014.91 worth of trades.

Vaccination Q. Are the Covid-19 vaccines safe?

A. To find out the answer, go to bit.ly/vaccinedanger.

Withdraw money Q. What are some of the important points you can tell me about withdrawing money?

A. Normally you can withdraw whatever your net balance it.

However, if you accepted a bonus when you started, you cannot withdraw until you have turned over your account three times.

Zoom Q. How do you find a Zoom link to someone on Facebook?

A. In the Facebook left-hand column, click on Events. Then click in the Search Events window. The name of their Facebook group will show up if you are a member.

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