Frequently Asked Questions Hopefully, you will find the answer to your question here. Otherwise, please send me your question via the contact form
Q: Can I make money trading forex?

A: That is up to you! Many try and fail at currency trading for various reasons: They may get over-confident trading forex demo accounts. They are gripped by greed or fear. The simply have not taken the time to take a forex training course or try to understand what forex trading is all about. Some are carried away with initial trading success and are enticed by the 100 to 1 or higher leverage offered by forex brokers.

It is wise to realize that forex trading is a profession - business like any other business. It takes time and patience to become good at it, like any other skill. However, as with say, golf, or piano playing, it goes better if you have a trainer or mentor.

Q: How much does your service cost?

A: I ask you this: What is is it worth to you? What is is worth, relative to your capital, to be able to learn and implement a strategy that will make you superior returns for a known risk? The answer is therefore: negotiable. Let's talk.

Q: How much trading capital should I start with?

A: If you want a meaningful return, you should have about USD 50,000 - and be able to risk (=potentially lose) some of this. My money management system ensures that you won't risk all this amount. However, the trading I endorse does not involve high leverage and therefore does not involve risking a large proportion of your capital per trade.

Q: What returns can I expect?

A: That all depends on how much you want to risk. You cannot have reward without risk, and you cannot consistently profit from a high risk reward ratio. That is, 7:1 (say, 50% risk for a 350% profit). However, with a good system and rules, Risk Reward ratios of 3:1 with a sub 50% win/loss ratio are possible. It would follow that if you risk 50% of your capital for a 100%-150% return, you might well get wiped out before you realize the return! So, you need to have a realistic goal

Q: I want to make $200 per day trading forex. Can you help me?

A:I get asked this a lot and the answer is - depends on your capital and your risk appetite. If you don't understand this, don't even think of trading. Many times have I asked about the capital, only to be told "$500". Let me say this: It is totally unrealistic to expect to make $200 per day with a capital of $500! The mathematics of probability will tell you this. If you could, you would make some %15,600 per annum. I have never heard of anyone doing this, and if it were possible, why isn't everyone doing it? Work it out......

Q: What is all that coefficient and Sharpe stuff?

A: These are some of the performance measures professional investors use to assess the performance of traders they have invested in. As you will be your own investor, isn't it better that you look at your performance in the same objective way? Only that is hard to do. Hence, the requirement for a Mentor.

Q: Who are you?

A: It is difficult to trust someone you have not met before. I hope that I have been open with this web site to show you who I am. I hope that my peer group endorsements help convince you. I am not a seller of quick-fix remedies. Clients must be prepared to work, if they want to get anywhere with forex trading.

Q: What is the strategy and process?

A: The process is first and foremost to ensure that your motivation to become a forex trader is valid; that you goals are do-able. The next stage is to change your attitude to trading and assume a winning attitude. Then we develop a plan. Your plan. How you are going to reach the goals. Then we examine the forex market, because you cannot trade a market you don't understand. We look at systems and you make the choice. We create the rules and paper trade the system, until you are following the rules. We apply my system of money management so that we have targets to follow and loss-limiting barriers in place. Then, you go live.

Q: That sounds long and expensive. Is it?

A: Some have traded and failed; some have traded and know they should be doing better; some have had 'beginner's luck' and don't know why they have had success; others are scared to trade with others still should not trade on their own account at all! We might find out the latter after one hour. Let me put it this way, though: If you seriously want to do this, it is worth the investment to do it properly in a structured way. 'Learning money' is one of the most stupid experiences one can have, What do you learn? How to be scared in the future, probably. So, expensive is a relative term. You may need a few hours, you may need more. What is clear is that investing in mentoring should give a better return on investment that any other form of course, seminar, book or just 'trying the market', because it a tailored to your personal needs.

Q: What will I get out of this?

A: The least you will get out of it is whether or not you should be trading forex on your own account. From there, you will get a system that will be the basis for successful forex trading. However, nothing is guaranteed. Logic must tell you, that if you acquire knowledge and at the same time have someone who is going to make sure that you apply the self-discipline and not fall into the traps that up to 90% of would-be forex traders fall into, you will get something out of this.

Q: I have done well on a demo account, so I will do well 'live', right?

A: There is a big difference between trading with a demo account and trading your own money. Because the money is not real, you take huge risks - and sometimes you can be lucky, but your psyche changes when its your own money! Now, fear plays a part. Broker acquaintances tell me repeatedly of hotshots who make a million with a demo account, only to lose their capital in a very short time when trading for real

Q: I am not a loser, I won't make the same mistakes as others, whatever they are?

A: Of course, you have to have a positive attitude, but you also have to know the dangers. There is so much hype, telling you how easy it is to make big money in forex. Prices move fast in forex trading and in highly-leveraged trades, you can quickly - I mean quickly - lose the bulk of your capital. Even if you make a lot of money on a move, I guaranty that the euphoria you will experience will cause you to give all the money back and more to the market

I hope that you leave this page more enlightened. However, if you want to discuss the above, please send me your phone contact details via the contact form, or chat with me if I am on line.

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