The LIVE TRAINING ROOM is part of our value add for our Fast Track, Live Room subscribers and demo traders. Here we look for the places our Forex Trading Software and methodology indentifies a potential trade setup and learn how to identify a real trade vs. a setup using technical analysis to a target that is great vs. a trade setup that does not have the potential reward.
Results below are tabulated from trade opportunities we have identified live in the NY session (and may happen in any later session as well as live in the session), in a Session Recap or a "Heads Up Alert" to subscribers and then the average of what our subscribers actually took (we do not count multiple lots only 1 lot). Because we press our winners without exception, many of our traders get way more pips per trade than we are showing below*. We do not verify our traders trades, we only report their capture so results should be considered hypothetical not real. Traders also take other trades. We neither count their wins nor their losses--only opportunities that we have verified in the room using our software and methodology.
* done by Pip Lewis
* done by Pip Lewis with the much-appreciated help of Anthony Wood
Below is a live trade taken in session on Aug 30th, 2012 - it took an hour but we have edited it to only 6 minutes. Because of that, the original audio would not make sense so we are narrating the process in the room after the fact - but the trade was taken live in real time.
* done by Pip Lewis an independent source
We add up what trade setups were alerted in the room after we have identified them as a valid setup and did they go to the target ( if we clicked out due to it faltering that is the capture-i.e. we clicked out the GBPUSD for 8 pips since it would not go – it has since gone 32 pips but we only count it as only 8 since we clicked it out). Anything that we identify in the room is entered into the record since these live sessions are recorded. We are recording what our software and methodology can identify - which is not the same as an actual trade taken (although we and our traders try and take as many as we can).
PLEASE NOTE- We may alert for multiple types of trade opportunites, but no trader should take them all due to the correlation of currencies. Example: If we alert to both the EURUSD and the USDCHF a trader would only take one not both! Since we do not know what opportunity a trader will take in the training room we count them BOTH (win or lose). Additionally, you need to watch your useable margin since over trading could result in a margin call!
There are 4 types of trades that we count:
1) Any live trade taken in the room
2) Blog posts - we post BEFORE the NY session opens. If that trade occurs we count it (unless we also took it live at which case we only count it once)
3) Session Recaps - at the end of the NY session we record a video with the trade opportunites defined for the next 3 sessions. If they happen and our traders take them we count the average that our traders actually got NOT WHAT WE ALERTED TO!
4) Info Center Alerts- we alert via a special desktop widget to our live room subscribers vis email and SMS to a cell when we see an opportunity developing.
Note: we count wins, losses and breakevens. Traders are instructed to move their stops to breakeven at around 17 pips.
WHY? We count all trade opportunities on 19 different pairs identified in the room and no trader can take all the trades unless they trade all three sessions (we identify the opportunties for all 3) have enough margin to trade simultaneous entries, or if we identify both EURUSD and USDCHF you can only take one of those at the same time! Because spreads vary from Broker to Broker and the additional difference in spreads due to fractional pricing, your entry or exit may not be the same as ours or another trader. We also average trade captures from traders who report their trades in the live room since some might get 34 and another gets 41 as an example. 20 traders may take 3 trades and another 20 may take another three trades - although that is 6 for us, no trader should take that many trades simultaneously.
So although we have traders taking trades on all the pairs no one trader is taking trades on all of the pairs. What is the most important factor in our record is low losses and high average pip capture.
The decision to take any opportunity is 100% your call - we are identifying the parameters of the trade setup that our software and methodology shows, stops and limits and in live trades in the room and we will live teach you how our charts help you create a roadmap to manage that trade to it's target.
We are TARGET TRADERS - so many trades are entered in the session but do not limit out until after the session is closed. Additionally, trade setups we identify in the NY session may not execute until the Asian or London sessions. That does not negate the opportunity since the targets are set from the past.
Note: Our room is for Educational purposes only it is NOT a Live Trading Room.
* done by Pip Lewis an independent source
2011 spreadsheet Click here +6341 To see the PDF record of each trade
First 7 months of the live room recap of 2010 are below (live training room opened in the middle of June)
2010 spreadsheet Click here +2,421 (7 months-room was not open prior to that). This room was moderated by another trader and before Scott Barkley took over the room and as you can see their pip captures were much smaller.
"Trading Forex involves substantial risk, is not for every trader and only risk capital should be used."
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