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Frequently Asked Questions About Forexearlywarning
I am a new user to Forexearlywarning what steps should I follow ??
First of all it is imperative that you read the website thoroughly and ask questions. The website is loaded with great information about how the trading plans are prepared, how to enter trades, the best times to trade, etc. Review the information on our website about Forexearlywarning and the Forex Heatmap ™ and send us any questions about the information you see on the contact us page.
I am considering a subscription what steps should I follow ??
you should read the Forexearlywarning.com website thoroughly. Email us questions and ask for a free phone consultation if you wish. When you think you have a grasp of the system set up the free trend indicators located on the home page and learn to set price alarms. Go ahead and subscribe and be ready to start paper trading our system the first day of your subscription.
Why is Forexearlywarning.com only $19.95 per month ??
In order to facilitate proper testing of our forex trading system by paper trading, moving from there to micro lot trading, then full scale trading takes time. Most forex traders have to get used to trading 28 pairs because they have been scalping one or two pairs with technical indicators and there is an adjustment period because we do not use those methods. After one or two months you will be used to our system.
How I know the Forex is right for me ??
You do not know. You must first find a fx trading system that works, then you must learn the system and paper trade the system, without bias. Most forex traders will not do any of this but those that do love trading the forex for a living or additional part time income. Most forex traders quit before properly assessing any system and are always looking for shortcuts, and then they fail. We see no hurry to learn our system.
How do I know Forexearlywarning is right for me ??
You do not know this either. But if you read our website thoroughly you will learn how we prepare trading plans and enter trades so you can make an informed decision at no cost to you. Forex traders generally scalp one or two pairs with technical indicators and are woefully uninformed as to what causes currency pairs to move. You must study our system with all of our free resources and decide if you really want to make pips or continue struggling for the rest of your forex trading career. Our system is highly logical and it works.
When are the trading plans posted ??
The trading plans are sent out starting twice daily starting on Sunday nights and through Friday after the US session. Evening CST plans are posted well ahead of the main trading session at 0200 - 0300 GMT, plus or minus 30 minutes. You set the specified price alarms in the plans on your trading platform or cell phone to be notified as to when to go check the market. When new reports are posted you will see a flashing signal on the home page and you will also receive a notification email.
What style of trading do you use ??
At Forexearlywarning we use swing to position style of trading the forex when the market trends are available to support this. We also write trading plans for the larger oscillation patterns on the higher timeframes that we identify. Our forex trading plan service consists of the “Second Opinion” forex trading plans and currency pair watch lists for 28 pairs, including specific price alarm points. These forex signals are also useful as forex day trading signals.
What are the contents of each trading plan ??
Each plan is very compact and contains the pair, the direction and time frame of the trend, the first level support or resistance to set your price alarm, the overall analysis of individual groups of pairs, CAD, USD, JPY, etc. We also give the profit targets when they can be identified or overall pip potential of each pair we plan for. You can check our plans, the trends and price alarm points against the charts and free trend indicators we provide.
Some examples of our historical trading plans can be obtained by clicking here on the RSS feed.
I am a veteran forex trader, can your trading plans help me ??
Yes, but most veteran forex traders have been scalping one or two pairs with standard technical indicators and they must be willing to let go of these indicators and methods because they failed you completely anyway. A lot of forex traders just will not let go and start over fresh. This time you will study methods that work, analyze the entire forex market and have a much broader view of the forex market.
How do I know if I can become a disciplined forex trader ??
Once again you really do not know. Are you willing to study a solid forex trading system and go back to school ? Are you available to trade in the main trading session ? Are you in financial dire straits, a gambler or doing it for the wrong emotional reasons ? If you are a stable person and trading the forex for all of the right reasons and you also have risk capital then you are a candidate to be a forex trader. If you are able to enjoy the journey and stay focused on the goals along with paper trading you have an excellent chance because the forex trading system we use at Forexearlywarning.com actually works.
Is the forex heatmap included in the 19.95 price ??
Yes, Version 2.0 and 3.0 are both running at all times for subscribers in the members area.
I have never seen your website before. What would be the best way for a trader to try out your service ??
It is very rare when a trader emails Forexearlywarning to ask the best way to approach properly using our trading system. A forex trader can start by reading our website very thoroughly and make sure you know how to access all of the information. Review all of the articles and illustrations and make sure you understand our trading system to the best of your ability. You have to do this anyway and all of the information is free.
When you think you are ready set up the free trend indicators on the home page and learn to set price alarms. Then go ahead and subscribe and be ready to start paper trading on day 1 of your subscription period. Email us when you get started if you have any questions. Due to the low price many people subscribe first and then they experience a "false start" and must back track and learn the system.
Where can I expect to be in 90 days ??
This is most likely entirely up to you. The Forexearlywarning trading system makes a lot of pips but most forex traders do not follow the system. They have a substantial amount of bad habits from the past forex experiences. They must first "unlearn" everything the forex industry has taught them. If you paper trade for 30 days, then start with micro lots there is no reason you cannot be trading mini lots in 90 days and ramping up to full scale trading but this is entirely up to you. Follow the system and forget the past, it did not work for you anyway. Traders subscribe to Forexearlywarning because the past was a failure.
What is your track record ?? How many pips do you make per month ??
Although this is a completely legitimate question and some signal services do provide a track record of some kind, we can say that we have never seen any case where any track record was ever verifiable or ever verified by anyone. Also most signals services only send out scalping signals on a handful of pairs using the completely ineffective technical indicators again.
For these reasons we get questions about our track record at Forexearlywarning. If we gave you a track record you would not be able to verify it anyway or would likely not go to the trouble of doing so. You would have to understand our trading system first before you could even begin verify the trades.
No track record is measurable without guidelines, the forex industry has no guidelines or standards for track records. The track record is whatever anyone says it is. Since we trade so many currency pairs (28) using swing to position trading style, naturally we make substantially more pips than other signal services that scalp a handful of pairs with technical indicators.
When the market is trending we have given out as many as 30 trading plans on the same trend in the same direction on the same pair. In preparing a track record how should this be counted in the track record ? Is it one entry or all 30 ? Nobody really knows and there are no guidelines. When currency pairs are oscillating in a range we assign targets to many trades. In this case you can have some level of measurable pip totals.
Also, The Forex Heatmap (tm) indicates trades daily which may not be in our trading plans, we call them "supplemental trades" which occur almost every day. There are sometimes trades that occur in the Asian session as well, we do not count these in the pip totals at all. However some days the pip totals are quite high on supplemental trades or trades in the Asian session.
In the main trading session if the JPY is weak one trader may buy the EUR/JPY and one trader may trade the GBP/JPY, another trader may do a JPY basket trade....what pip total do you record for the track record ?? Once again nobody knows but all three of these trades are valid.
We could estimate a range of pips per month for the main trading session only and you would start at 800-1200 pips per month but it could easily be up to 3000 pips. Just look at 28 pairs of movements multiplied by 20 trading days per month and that is the actual upside which would be astoundingly high number but it is highly unlikely that anyone would obtain this total. On an individual day of trading if the GBP pairs are moving this group can move 2500 pips in one day and this is only 7 pairs out of 28.
If you would like to see some representative trades of how we trade the forex day to day you can follow us on twitter at no cost and we post representative trade results on some high quality trade entries, which are verifiable through any forex charting system.
Do you provide ongoing forex education to your clients ??
Yes we do, we have two weekly webinars on Wednesday nights and we have websites that explain our forex trading system thoroughly and all of the educational materials are free. We are continuously reviewing and upgrading our forex resources and have been doing so for over 6 years. There is no extra charge for any of this and it is all included in the $19.95 per month price. Our forex educational materials are a complete "forex how to" including entries, brokerage, money management, etc.
What types of difficulties should be expected using your system ??
The biggest problem traders will have with this trading system is themselves. Forex traders cannot seem to get out of their own way. Veteran forex traders who discover Forexearlywarning will have trouble with our system because they have mostly been scalping one or two pairs with technical indicators, so they struggle with false beliefs and old bad habits. We trade 28 pairs and do not use technical indicators so veteran traders have a hard time letting go of the past despite the fact that they all know that none of these indicators ever worked for them anyway. Newer forex traders do not have any bad habits and tend to just paper trade the system successfully much faster because their heads are not clogged up with bad information.
How high are the risks in Forex trading ??
Risk is not knowing what you are doing and doing it anyway. With our trading system you papertrade the system, then move up to microlots, then minilots then full scale trading. You never risk any large amount of real money until your habits and experience base are built. That being said we still trade with stop orders and use a top quality trade entry management system like The Forex Heatmap (tm) which lowers the risk to the next level down. Every live forex trade has risk until you move your stop to breakeven. Paper and demo trades are all risk free.
What are the major traded currencies ??
There are 8 major currencies in the fx market, the US Dollar, Canadian Dollar, Euro, Swiss Franc, British Pound, Japanese Yen, New Zealand Dollar and Australian Dollar. We trade and plan for 28 pairs comprised of the eight major currencies at Forexearlywarning.
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