No, he did say 30 pips per week. That's the average result he says his students make, after figuring in their losing weeks. One thing I will say about him: I can't fault him for overpromising. Regards, chaos
Do you guys know what 30 pips means? For example a move in $/Eur from 1.2590 to 1.2560 or $/Yen from 106.20 to 105.90 is considered a '30 pip move'. Not much at all. It's roughly equivalent to about a 25c move in a $20 stock for example.
Hello All. There are innumerable trading systems available in/for charting programs such as MetaStock, TradeStation, eSignal, Ensign and AmiBroker; see attached charts for 1 example. Intraday trading I would use an Account to Trading Margin ratio of 1.5:1; monitored Day-to-Days trading a 3/4:1 ratio. Full lot per pip = $10 x 3 lots = $30 x 100 pips = $3000, using $3300 margin. Wallace.
Having been suckered by a few courses I would suggest that you ask for his broker records for the last 5years. Has he made a million himself?
$3000 on a 100K account is 300 pips not 3000. Actually the way you describe it it's 100 pips on 3 contracts. So you would have to trade 100K lots and an average of 3 contracts. The FX industry is the new scam on the block in case you haven't noticed. It's sickening to read that some "educators" try to entice people to trade Fx for a living. In Futures Mag there is some columnist who recently claimed that it's a good career alternative for people victim of downsizing in the manfufacturing industry LOL!! The CFTC should take care of him IMO. First to trade FX exclusively for a living you would have to trade the fut . you can't daytrade the spot with 5 pips spread. I don't believe anyone who says you can make a living in retail spot FX .
Thanks all for the helpful information and comments. These info. save me some cold cash by not sigining up a course that I am not ready for. Good luck on your trades. Bluesky