Questions About Forex Investing Live Signals

Questions About Forex Investing Live Signals

Today I got and email from a potential subscriber with some questions about the Forex Investing Live signals service.  Since other potential subscribers might be having the same questions, I thought it a good idea to share the questions and my answers.

Will I be up to par and ready to place a trade from your signals
once i complete the signals success course? Any other recommendations
as far as education before I start?

To be able to use the signals you need basic knowledge on how to place a trade and manage a trade on your trading platform.  Basically, you need to be able to place a buy or sell market order with a stop loss and take profit.  Then you need to know ho to move the stop loss and manually close a trade.

You will also need to decide on a money management strategy to determine how much you will risk per trade.  (After 20 days of joining the service, subscribers get access to my Forex “Money That Matters” Course which goes over my thoughts on money management and portfolio management to make optimize signal profitability, even with smaller accounts).
Those are the only “skills” you need.

However, most of trading successfully is the ability to follow instructions, stick to the plan and avoid letting emotions get in the way when real money is on the line under live market conditions.  These skills only come from first hand knowledge and hard earned experience.  This is not something you can necessarily prepare for… but rather need to learn by doing.

Will I be able to learn the strategy behind your signals? Just in
case you ever decide to close up shop. I would like to be able to
continue the same strategy on my own.

I do not teach the exact strategy I use for the signals.  While most of the strategies are mechanical, there is a degree of thinking that does go into making the decision to trade and manage the trades.  That means it would not be easily taught so that everyone would be doing the exact same thing.
However, after 50 days of joining the service, subscribers get access to my Forex SOS Course & U-Boat FX Strategy.  This is not the strategy I use for the signals, but it is a working strategy.  It is a good idea to learn this strategy along with doing the signals, as it only takes a few minutes more to check the charts and see if there is anything to do.  Over time, you can easily master the strategy and have something to use if the signals service ever ceased to exist.

How long have you been using the particular strategy you are using
now to give out the signals? Do you see this strategy working forever?
Could it ever be automated?

I’ve been trading for many years, but have been using these strategies in their present form since 2015.  Before that, the strategies I used were similar, but not exactly the same. 

I don’t think well thought out strategies ever “stop working”.  All strategies work better sometimes than others.  When the market conditions are in tune with the strategy… they work great.  When market conditions are not in tune… they don’t.  The trick is to have the good times make more money than the bad times… which most good strategies do over time.

A lot of people are quick to abandon strategies… saying they “stopped working”.  Most likely what is happening is they are going through a consolidation or drawdown period and abandon the strategy before it can recover.  (They usually come back after abandoning the strategy and see they lost out on a lot of profits after they stopped trading the strategy).

Over time I expect my strategies to be profitable… sometimes more and sometimes less.  But still profitable.

The strategies could possibly be automated.  But it only takes 5-10 minutes a day to trade, so why bother?

Any issues with liquidity? Is there any limit on how much we can
earn with this strategy?

I’m not sure what you mean by “issues with liquidity”.  We are trading off the Daily charts and not placing a large amount of trades every day.  This means we don’t have any problem getting our orders filled, if that is what you mean.
How much people can make with the signals is determined by the size account they have, the money management strategy they use and the future performance of the signals.  Since this is different for each subscriber and impossible to predict, how much people will make or not make with the signals is unknown.

Is this a set and forget strategy for you too, or does it require
you to be around the computer monitoring at all times, just to be able
to give out signals to us?

This is set and forget for me as well.  I only look at the charts around 10 minutes a day.  Decisions are only made at trading time and actions are only taken at that time.  Since I cannot do anything to influence the market, or make decisions at any other time… why stare at the charts?

What does “monitor” the trades mean as far as time? Are we only
monitoring and making adjustments to the trade when you send us a
message to do so? Such as changing the SL or taking profit, etc. Or do
i need to be constantly checking the trade throughout the day?

All trading actions are taken at the trading time of 5:00 – 5:30 PM New York time.  Entering trades, moving the stop loss or manually closing a trade is all done at that time.  No other actions are taken at any other time.
Subscribers login around 5:30 PM New York time, check the signals dashboards and take any actions written on the charts for each currency pair we trade.  That is it.  Nothing more to do.
The best way to learn about the signals and find out if they are right for you is to take our 14 day FREE trial.

About the Author

Edward Lomax

Edward Lomax

Edward Lomax is a Forex blogger and educator. Originally from the East Coast of the United States, he currently lives in Chile with his wife.

View all posts by Edward Lomax

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