Thank you for putting together such a wonderful system.
I am still going through all the materials in the member site. As English is not my native language, it will take me a few more days to go over everything several times, just to fully absorb your wisdom.
At this stage, I hope you don’t mind my asking a few newbie questions:
- How to enter orders and place trades for setups?
- Are certain data feeds more profitable to use than others on the 8 hour time frame?
- Are any one or two currency pairs better to start off with than others? (in terms of consistency or profitability over the last few years or last few months)?
Thank you in advance for helping me.
Entering Trades: How I place my orders
At the end of your “8 Hour Chart Setup Video”, you mention that you will be making another video soon on actual trading and entering trade. Is such video available yet? Or did I miss it in the member site?
You can find that video in the rules for the Conquer V2 under the sub-heading “How I Place My Orders.” I also put together a step by step written explanation of how I place my orders. Some learn better visually and others through written directions.
8 Hour Time Frame: Does it matter which data feed I use?
Does it matter which start time for the 8 hour period we use? For example, my exiting broker has a different 8 hour period from the IBFX, because of different broker time and different data feed. Is the IBFX feed somehow more profitable to use than others? Or was it solely for the purpose of consistency across your group?
Absolutely! You can use whatever data feed you choose (none is statistically more profitable than another) and always trade what is on your charts. I was using IBFX so this is why I posted it. I included a note regarding this probably overlooked under “TIme Frames Traded” which reads:
If you are using a different data feed such as FXCM (8 hour charts come default and candle open an hour ahead) or FXPro (also different candle times) you can do so, always trade what is on your charts following the system rules.
5,000 Pips Monthly Return: Recommended currency pairs
For me to better wrap my mind around trading this new method, I would like to start off with trading only 1 or 2 currency pairs first, and then build up gradually to the full six recommended currency pairs as my experience improve. Is there any one or two currency pairs that are better to start off with than others? (in terms of consistency or profitability over the last few years or last few months)?
The average monthly return of 5000 pips per month is including results from all 6 pairs being traded together. It’s difficult to pick a pair or two to recommend over the others since there is simply no way of knowing which pair will outperform another at any given time. Currently the EUR/USD is outperforming the rest but who knows tomorrow. For any given period of time it could be pair A that outperforms while pair B under performs. Then over the following two month period that could reverse itself. This is why the six pairs were included in order to bring diversification and smooth out the equity curve.
>Very glad to have someone like you with us. I look forward to watching you grow into a successful trader.
Further reading:
“Click the link below to let me help you figure out what you should read and do first…”
