What is Forex?

Forex is an acronym for FOReign EXchange and is the worldwide currency inter bank or inter dealer market that uses a floating exchange rate system. Most people have little knowledge of Forex. Yet, it is the world's largest financial market with an estimated daily average of more than $1.5 to $2 TRILLION.

Why FOREX Trading?

Forex trading is attractive because it offers unparalleled freedoms. A Forex trader can live almost anywhere as long as he/she is within reach of the internet. A Forex trader can work from home or office, and in some cases, even trade while traveling! A Forex trader can usually choose his/her own hours to work since the global foreign exchange market is open 24 hours a day. A Forex trader avoids many common headaches associated with running a business because there is NO inventory, NO shipping, NO billing, NO collections, NO employees, NO commuting and NO dress code. And finally, since Forex traders can potentially earn a very high income, they enjoy the possibility of never, ever working for someone else again!

When does Forex trading occur?

The first session, which is the Tokyo Session, begins each week on Monday morning in the Asia-Pacific region which is Sunday evening in the Americas. Trading continues non-stop moving into the London Session and on to the New York Session until all markets close on Friday afternoon.
The forex market trades 24 hours around the globe, there are no open and close like the stock market.

Major FOREX Markets
OPEN CLOSE
Japan 8:00 PM EDT 4:00  AM EDT
London 3:00 AM EDT 11:00 AM EDT
New York 8:00 AM EDT 5:00 AM EDT

 

How high are the risks in FOREX trading?

 

The risks can be high but also controllable. Forex traders around the world are competing against other forex traders, banks, and institutional traders who are seeking the same potential rewards from their own trading activities. Money management, discipline, talent, and a lack of emotion are traits you will want to develop in FOREX trading. But remember, FOREX Trading is speculative and any capital used should be risk capital. In fact, we recommend that you trade on a demo account until you have shown profit for at least three consecutive months before trading real money.

 

What is a Pip?

 

The smallest movement in a currency. Often referred to as "ticks" in the futures markets. For example, in EUR/USD, a move from 1.2080 to 1.2081 is one pip. In USD/JPY, a move from 110.51 to 110.52 is one pip. Trading full contracts (100k of currency) the EUR/USD and GBP/USD are worth approximate $10, for the other pairs approximate $8. If you trade mini contracts divide by ten, instead of $10 every pip worth $1.

 

What are "long" or "short" positions?

 

A long position is one in which you buy a currency at one price, with the expectation of selling it later on at a higher price. Obviously, you anticipate that the market will rise. A short position is one in which you sell a currency with the expectation of buying it back at a lower price. Here, you expect the market to fall. Every FX position you take automatically entails going long in one currency, and short the other. If you buy one, by default you are shorting the other.

 

What is a Limit order?

 

A limit order is an order with restrictions on the maximum price to be paid or the minimum price to be received.

 

What is a Stop Loss order?

A stop loss order is an order type whereby an open position is automatically liquidated at a specific price. Often used to minimize exposure to losses if the market moves against an investor's position.

 

What do the terms "bid/ask" and "spread" mean?

 

Bid is the highest price that the seller is offering for a particular currency at the moment; ask is the lowest price acceptable to the buyer. Together, the two prices constitute a quotation; the difference between the two is called the spread.

 

Do you run other services?

Yes, we also run ParadiseForexSystem.com, which is a great system to complement the results of GoldenForexSystem.

 

What is the minimum start up trading capital?

 

Short answer is $ 2500.00
Forex dealers can set their own minimum account sizes, so you will have to ask the dealer how much money you must put up to begin trading. Most dealers will also require you to have a certain amount of money in your account for each transaction. This security deposit, sometimes called margin, is a percentage of the transaction value and may be different for different currencies.
For taking every trade our system announces you should consider that we may have one open position for each pair at the same time.

 

Is Forex trading expensive?

 

No. Most online Forex brokers allow customers to execute margin trades at up to 100:1 leverage. This means that investors can execute trades of $100,000 with an initial margin requirement of $1000. However, it is important to remember that while this type of leverage allows investors to maximize their profit potential, the potential for loss is equally great. A more pragmatic margin trade for someone new to the FX markets would be 20:1 but ultimately depends on the investor's appetite for risk.

 

What is Margin?

 

Margin is essentially collateral for a position. It allows traders to take on leveraged positions with a fraction of the equity necessary to fund the trade. In the equity markets, the usual margin allowed is 50% which means an investor has double the buying power.
In the forex market leverage ranges from 1% to 2%, giving investors the high leverage needed to trade actively

 

Is the system mechanical?

 

Yes, it is 100% mechanical; you can send your orders in advance with their Stop Loss, Profit Target, no need to evaluate or take subjective decisions of where/when to exit trades. As we mention is a complete system, with full guidance from entry to exit.

 

When are signals sent and how often?

 

GoldenForexSystem.com signals are placed on the web site and an email alert is sent once a day around 5:00 pm New York time during business week. We only issue new signals at this time, no further intraday instructions are necessary since we indicate entry, exit and stop loss in advance. We don’t issue signals every day, only when our system signals to do so.

 

System Objectivity

 

Signals are generated using by TrdeStation program without any intervention of people. Our system is 100% mechanical. We use the same criteria and parameters to generate signals everyday, there is no subjective criteria involved in the process.

 

How long are positions holding periods?

 

Holding periods are variable from pair to pair. We limit the maximum holding period for each pair according to its volatility.
PAIR Avg Holding Period
Days Max. Holding Period
Days
EUR/USD 3.9 7
GBP/USD 2 5
GBP/JPY 3.6 7
USD/JPY 3 7

 

Can I enter the orders at different time?

 

Yes, this is not scalping for 5 or 10 pips profit per trade. We look for 90 to more than 150 pip gain per trade in a 2 to 7 days period. Many customers prefer to do their own timing and get better fills. Also more often than not, our entry price levels are far away from actual trading price.When are GoldenForexSystem.com signals sent and how often?
GoldenForexSystem.com signals are placed on the web site and alert emails are sent once a day around 5:00 pm EDT during business week. We only issue new signals at this time, no further intraday instructions are ever sent.

 

Do I need to wake up or stay awake during night hours for placing orders/manage trades?

 

No definitely not. No need to wake up during night hours for receiving emails and managing trades. All our system entries and trade management is done during daily hours. Our web site is updated showing new trading signals and alert emails are sent every day at 5:00 pm EDT.

 

How many pairs do you follow?

 

We trade 4 pairs: EUR/USD, GBP/USD, USD/JPY, and GBP/JPY.

 

How many signals does GoldenForexSystem.com send per day?

 

We post on the web site a daily signal for each one of the pairs with complete and PRECISE set of instructions about entry levels, direction, stop loss, profit targets. Also we send an alert email posting new trading levels for the day for each pair.

 

How much time does it take to follow your system?

 

After you have traded for a few days and got used to the trading system it really will take you only 15 minutes each day to execute your trades. There is no need to monitor the intraday market. After a trade is initiated the system evaluates the position at the end of every day and issues a hold, stop or sell.

 

How long it takes to get access to the signals?

 

You have instant access to the signals. After the credit card purchase is approved you are forwarded to a screen to select your username and password.

 

How do I cancel or change my subscriptions details?

Simply send us an email to support@GoldenForexSystem.com

Do I need to open an account or send money to you?

No, we provide the signals to trade but not the brokerage services to execute the trades.