Questions from Training Materials 101 w/Forex Joe

[ForexJoe]

Howdy Joe,
First a couple of acknowledgements and then a request. I really am pleased and thankful you directed us to that video “Money as Debt”. I have subsequently shared it widely with my friends and family. Last night when I was visiting my son at college we actually spent a great deal of the evening watching and discussing that great clip. Makes me think about getting a Charter and starting a bank.
Next, the basic videos you created and put up this weekend are very helpful. Thanks and an absolutely great job.
Now for the request. How about a video (or series of videos) about choosing entry points for trades? After listening to your video about the purpose of the Hourly Center Point Report, I am even more interested in your rules of engagement for entries.
Respectfully,
Henry Chidgey (EUR/USD)


Henry,

I shared with masses in class several types of traders in Forex markets. Depending on if you just want to be a follower given fish to learning a new vocation for life that allows you to become an expert fisherman for life will answer the above question....

1. Position Manager - These are LIVE recommendations executed instantly and sent to students RSS feed or cell phones. These entries so far have generated 800+ pips in our first month operation in March 2009.

2. OU Forex Weekend & Daily Updates - I cover various pairs using three separate ranges

Breakout Channel
Wide Channel
Compressed Channel

to pay strict attention for, depending on what type of specific trading style you employ.

These ranges give you directly and specifically tops and bottoms of channels for various currency pairs.

3. OU Forex Weekend & Daily Updates potential trade recommendations are direct on sharing certain numbers for entries in practice regimen account. Your mission if you decide to accept is to at very least execute these recommendations consistently on a daily basis. This begins the process of gaining vast experience in LIVE current market conditions.

4. Rules of engagement - hidden in plain sight... Tools provided daily along with training materials offer rules of engagement in many areas of training.

The key becomes if you want to use the Alerts, Daily/Weekend updates along position manager info to execute trades or if you choose to become a student to learn how currency pairs react 24/7 in the most liquid market on earth.

That becomes a personal choice.

I am providing a plethora of tools no matter what the choice in our educational portal of substance.

We start week 4 of our journey Henry, and from your participation you are learning more every week. I hope to keep that streak going for a long time.

Hope this helps and look forward to any comments or questions this answer generates.

Godspeed,

Forex Joe

[ForexJoe]

Hi Joe,

Very pleased to be studying with you and Sunil.Have learnt a great deal already and am stunned by the depth of your methodology.Currently an overwhelmed by just catching up with the basics but have already made pips
and know you have achieved something unique already with your site.Have also have good quick replies from support.

Many thanks,
Paul C, Usd Jpy.Australia.

Paul,

Thanks or your effort and stay the course. We are starting our 4 week. This hopefully has become a life time journey for you.

Plenty of time to gain vast experience

Forex Joe

[HenryChidgey EAU/USD]

Henry,

I shared with masses in class several types of traders in Forex markets. Depending on if you just want to be a follower given fish to learning a new vocation for life that allows you to become an expert fisherman for life will answer the above question....

1. Position Manager - These are LIVE recommendations executed instantly and sent to students RSS feed or cell phones. These entries so far have generated 800+ pips in our first month operation in March 2009.

2. OU Forex Weekend & Daily Updates - I cover various pairs using three separate ranges

Breakout Channel
Wide Channel
Compressed Channel

to pay strict attention for, depending on what type of specific trading style you employ.

These ranges give you directly and specifically tops and bottoms of channels for various currency pairs.

3. OU Forex Weekend & Daily Updates potential trade recommendations are direct on sharing certain numbers for entries in practice regimen account. Your mission if you decide to accept is to at very least execute these recommendations consistently on a daily basis. This begins the process of gaining vast experience in LIVE current market conditions.

4. Rules of engagement - hidden in plain sight... Tools provided daily along with training materials offer rules of engagement in many areas of training.

The key becomes if you want to use the Alerts, Daily/Weekend updates along position manager info to execute trades or if you choose to become a student to learn how currency pairs react 24/7 in the most liquid market on earth.

That becomes a personal choice.

I am providing a plethora of tools no matter what the choice in our educational portal of substance.

We start week 4 of our journey Henry, and from your participation you are learning more every week. I hope to keep that streak going for a long time.

Hope this helps and look forward to any comments or questions this answer generates.

Godspeed,

Forex Joe

Howdy Joe,

Yes I am learning a great deal more every week and thanks. My request for videos to help us learn more about your rules of engagement for detirmining entry points for trades is 100% in the context of learning "How to Fish".

Based on my interpretation of your comments "hidden in plain sight" your method of education is that these will become obvious by doing the homework and exercises. Is that an accurate interpretation?

Respectfully,

Henry Chidgey EUR/USD

[ForexJoe]

Howdy Joe,

Yes I am learning a great deal more every week and thanks. My request for videos to help us learn more about your rules of engagement for detirmining entry points for trades is 100% in the context of learning "How to Fish".

Based on my interpretation of your comments "hidden in plain sight" your method of education is that these will become obvious by doing the homework and exercises. Is that an accurate interpretation?

Respectfully,

Henry Chidgey EUR/USD

Henry,

Congrats on learning more each week.

Your request for determining entry points is addressed consistently. The key is knowing how to handle entries during specific time you enter a daily session in 24/7 market...

Timing is HUGE and becomes best friend of fisherman.... Henry you have generated positive pips first month and that is awesome.

Hidden in plain sight is my motto as many students answer there own questions, yet fear or don't trust there instincts.

Growth comes with executing trades, part of my teaching. The more trades executed in LIVE current markets conditions, the more confidence one finds creating new habits.

You are correct that more you participate, the more quality of attention you focus on $3 Trillion Dollar a day market - the more growth will come due to experience.

Sunday for example, there were potential trade recommendations provided in OU Weekend Report...

Were you able to execute any of those recommendations?

Henry back on a Tuesday in night before FOMC class, I offered a class of substance using my methods.

Remember?

The class is in March archive along with next day follow-up

Please review the class several times...

You see Henry in many instance, the classes you seek are hidden in plain sight on website and in training area...

My point of contention, there exists plenty of material right now offering how and when to use tools in my method...

Follow the weekend and daily practice regimen to develop your skills.

Become a trader fisherman or life...

Use the tools provided and in Monday night's class, i will cover the thread 3-30-09 late night w.Forex Joe - have you read my comments?

Keep firing questions Henry... the future is bright for you and others who
focus on learning

[HenryChidgey EAU/USD]

Henry,

Congrats on learning more each week.

Your request for determining entry points is addressed consistently. The key is knowing how to handle entries during specific time you enter a daily session in 24/7 market...

Timing is HUGE and becomes best friend of fisherman.... Henry you have generated positive pips first month and that is awesome.

Hidden in plain sight is my motto as many students answer there own questions, yet fear or don't trust there instincts.

Growth comes with executing trades, part of my teaching. The more trades executed in LIVE current markets conditions, the more confidence one finds creating new habits.

You are correct that more you participate, the more quality of attention you focus on $3 Trillion Dollar a day market - the more growth will come due to experience.

Sunday for example, there were potential trade recommendations provided in OU Weekend Report...

Were you able to execute any of those recommendations?

Henry back on a Tuesday in night before FOMC class, I offered a class of substance using my methods.

Remember?

The class is in March archive along with next day follow-up

Please review the class several times...

You see Henry in many instance, the classes you seek are hidden in plain sight on website and in training area...

My point of contention, there exists plenty of material right now offering how and when to use tools in my method...

Follow the weekend and daily practice regimen to develop your skills.

Become a trader fisherman or life...

Use the tools provided and in Monday night's class, i will cover the thread 3-30-09 late night w.Forex Joe - have you read my comments?

Keep firing questions Henry... the future is bright for you and others who
focus on learning

Howdy Joe,

The Tuesday webinar you refered to in your response above was the Tuesday March 17th Class 8, so as to make it a little easier for others to find. That was an excellent recommendation and it has allowed me to get more insight into your entry rules. Sure seems to make more sense now than it did then. Probably has something to do with 61 trades since then plus other learning:). Your class last night was also helpful.

Yes, I did execute trades on Sunday night. Two buy UsdYen trades with gravy trains going as of now plus one sell EurUsd running.

By the way, I am still committed to learn enough so that I will be able to look at your numbers and be able to see the same things as you put in your Potential Trade Recommendations in the Daily Reports. Then I will believe that I have learned how to fish- not until then. That is my goal!

Thanks,
Henry EUR/USD

[ForexJoe]

Thanks Henry and continued success

[ForexJoe]

Daily Update for Monday 4-6-09 now on website

[ForexJoe]

Please ask any questions in this thread on Training Materials 101

[ForexJoe]

Please ask any questions in this thread on Training Materials 101

[Rodrigo Mattos]

ForexJoe:
After spending a lot of time and money searching for a good Forex training program, I finally found it! Your program is fabulous! Although I have been with it for just a couple of weeks, I presage that I will be with you for long time: I pretend to be a very proficient trader.
I am just familiarizing with the so many subprograms offered by OU, a reason why I think I lost part of the two weeks. I would like to participate immediately on the Position Manager LIVE recommendations using the spread sheet. By the same token I would appreciate you let me know the instructions and procedures to use it efficiently. I am stacking EUR/USD but I am also trading GBP/USD, USD/JPY and USD/CHF. As I am in Colombia, South America, the New York and Asian sessions are the most convenient for me. I have been trading Forex since about 5 years but with serious limitations that I want to polish under your guidance. During these two weeks, I made a bit more than 1,000 pips.
Regards,
Rodrigo Mattos

[Rodrigo Mattos]

Howdy ForexJoe;

QUESTIONS:
1. How do you recognize that a “retracement” is a true retracement and not a change of direction of the market (breakout)? What are the signals to differentiate them? Is there any tool that identify a retracement?

2. After the retracement has taken place, the market retraces some 25-40 pips and in some cases, higher levels. This phenomenon creates a double doubt or uncertainty on the trader: a) Is it a true retracement or a breakout? , b) The trader “has lost (?)” the pips the market has retraced which if you are trading say, the four currency pairs it may amounts more than 100 pips; this process is repeated several times during a trading session, which may make the lost very significant? My point of view is that for avoiding these two effects, we should close the trade just before the retracement begins and not wait for the outcome of it; we will re-enter the market when we have signs the trend will continue. I would appreciate you elaborate on the traditional way of keeping a position on the market even at the cost of significant decrease of the pips won.


3. It has been suggested to us to use Stop Loss of 30/40 pips. These numbers however looks to me as been arbitrary numbers. As we know, Support and Resistance levels are those levels where the market finds more difficulties to continue in its journey. Would you please elaborate on your point of view why we are not using S/R levels for Stops Lost ?

[ForexJoe]

QUESTIONS:
1. How do you recognize that a “retracement” is a true retracement and not a change of direction of the market (breakout)? What are the signals to differentiate them? Is there any tool that identify a retracement?

2. After the retracement has taken place, the market retraces some 25-40 pips and in some cases, higher levels. This phenomenon creates a double doubt or uncertainty on the trader: a) Is it a true retracement or a breakout? , b) The trader “has lost (?)” the pips the market has retraced which if you are trading say, the four currency pairs it may amounts more than 100 pips; this process is repeated several times during a trading session, which may make the lost very significant? My point of view is that for avoiding these two effects, we should close the trade just before the retracement begins and not wait for the outcome of it; we will re-enter the market when we have signs the trend will continue. I would appreciate you elaborate on the traditional way of keeping a position on the market even at the cost of significant decrease of the pips won.


3. It has been suggested to us to use Stop Loss of 30/40 pips. These numbers however looks to me as been arbitrary numbers. As we know, Support and Resistance levels are those levels where the market finds more difficulties to continue in its journey. Would you please elaborate on your point of view why we are not using S/R levels for Stops Lost ?


Greetings Rodrigo,

You pose some interesting questions that could help others - I will pose these questions in a quick power point this week and address to enhance your growth and maybe help masses understand retracements / consolations
in channels - Great questions

As far as stop losses in practice regimen account, the answer you seek is in many classes, webinars, trainings and reports.

Let's cover again to help everyone.

New Students

Take Profit 1 will be 25 pips
Stop Loss will be 50 pips

The purpose of exercise is to allow new student to be put into as many Take profit 1 positions where stop loss is moved to break even +1 pip.

Experienced Traders

Your stop loss should be on average half of what your Take Profit 2 level for each trade

Example

Take Profit 2 @ 100 pips

Stop Loss is 50 pips

---------------------

Seasoned Traders in instances will be using Key S & R numbers as shown in Daily / Weekend Reports as guidelines for placing stop losses.

If near a S & R number that matches 2 of 3 areas in OU Reports, then breakouts or bounces become stronger in those areas, allowing trader to place stop losses just below or above those numbers when executing a trade.

Hope this helps and please ask more questions if needed

godspeed,

Forex Joe

[ForexJoe]

The link is working to June 23 class

Thanks Blaine


Joe

[ForexJoe]

Questions from training materials 101 need to be posted here

Thanks in advance for your effort...

Godspeed

Joe
___________

[ForexJoe]

Training Materials 101 w/Forex Joe
As a beginner, you should trade the pairs that are most active during your trading session. So if you are trading the Asian session, focus on JPY crosses. If you trade the European forex session, trade the EUR crosses.

What pairs have you tried? Have you had any successes with any of them?

****Please put your name in each post.... thanks in advance

[ForexJoe]

How is everyone's trading going?

Do YOU have your goals for 2010?