Below is a list of my most frequently asked questions. If you’re going to do business with me, you might as well get used to my nononsense approach to trading. I say it like it is, and I don’t pull punches. I’m going to have fun in this business. I’m going to make you money too, but if I can’t enjoy my life doing it, what’s the point?
How many trades per week do you place?
It depends. Some weeks, I find a fantastic opportunity and get a 10% equity increase in one trade. That IS rare, so don’t expect it, but it does happen. Other weeks, we’ll get 4-5 trades. I like to find 1-3 trades per week. That is typical.
If a trade is not picked up in a few hours, should I close it?
You can do what you want, but if you want to have results that match the results of my service you must trade the signals given including all trade management calls and cancellations. I will send a message to close a pending order when the time its right.
Do you move your stop loss orders to break even at some point?
I move stop loss and take profit orders when there is a technical reason to do so. Stop loss orders are placed at a price, that if crossed, indicates that the trade has failed. I will sometimes close 1/2 of the position when price has moved in my favor the same distance as the stop loss. This has the impact of reducing risk to ZERO while leaving the stop loss where it belongs, in a technically significant location.
Will you consider a trade copier to replicate your trades?
No. I will not consider a trade copier. Trade copiers are just too damned close to managed accounts. I am not willing to assume the risk of a fund manager at this price point. I understand that you are too busy to trade. That is why most of my signals come out at predictable times and offer several hours to enter.
Do you have a free trial?
No. I have terminated all free forex signals as of 27 August 2009. I do provide a few free signals to my Twitter followers. You can Follow Me if you’d like the free Forex signals.
Do I have to sign a contract with you?
No. We have a monthly subscription and sometimes offer a special discount on an annual membership.
Are you a counter-trend trader?
No, we do not trade counter trends. There is too much risk for the miniscule possible gains. We ONLY measure our success by our clients’ profits. Happy, highly profitable clients mean everything to us. No counter-trend trading here.
Can this be put into an auto trade situation?
We have many subscribers who work full-time and cannot stare at a computer screen all day long. Our Forex alerts are perfect for those of you still in Corporate America. All of our trades aere sent at predictable times (15:00 – 16:00 CDT daily). Most of our trades give you several hours to open. In fact, we have some signals that are only sent at the daily close that give you 24 to 48 hours to place!
Our entire focus is to give traders the freedom to live their lives while being successful traders. We take care of finding the high probability setups, the perfect confluence of support and reward-to-risk ratio. We even give you a guide for graduated money management.
Our motto is: 600 Pips. 5 Minutes. Done Deal.
Everyone can make 600 pips a month in 5 minutes a day. Even in our so-called weaker months, we make more than 600 pips. Occasionally it may be a little more than 5 minutes in a day but our subscribers have been making a lot more than 600 pips a month, too. Fair trade, wouldn’t you agree?
How do you report your performance?
We offer complete transparency with regard to our trading performance. We are one of the first signal providers anywhere to report our performance in equity. Have you ever tried to spend a pip? We report in pips -and- equity.
Most other signal providers fatten their performance summaries, exaggerating their success by using shady forms of accounting. Some will show performance in dollars. Well, we all know a pip means something different to everyone. So, a pip isn’t a pip isn’t another pip. Get my drift?
Others count losses as breakevens, double and triple stack their gains by adding up Take Profit 1, Take Profit 2 and Take Profit 3s and individual wins instead of a total. So, to them, a 150-pip gain gets counted as 50 + 100 + 150 (TP1 + TP2 + TP3). To us, that’s a 150-pip gain and NOT 300. Other signal providers NEED to account for their signals this way because they are not as accurate and could never get the honest results we do. COMPLETE TRANSPARENCY without the need to hide a thing. That’s how we do it.
Do you accept PayPal?
Yes, in fact, PayPal is the only form of payment we currently accept at the moment. It is secure, quick and very easy to use.
How many signals can I expect to receive?
You can expect to receive between 1-3 signals per week. Of course, some weeks you’ll receive more. It all depends on the amount of trade setups that present themselves. All of our signals must meet our strict risk management standard and that’s partly why the number of signals you receive each week will vary slightly.
We believe in trading smart instead of trading unnecessarily. Hyper-trading only makes your broker rich. So, we only send Forex signals that have the highest chance of making you money. We aim for 100+ pips/trade instead of those risky piecemeal trades of 20 to 30 pips. We’ve learned it just makes more financial sense to do it this way. And, quite frankly, it makes you more money.
How do you deliver signals?
We send signals via email, Yahoo Messenger and on our website.
Do you send signals via SMS for people outside of the USA?
You can easily get signals to your cell phone using an auto-forward rule in your email client. However, our signals typically offer several hours (8-12 hours on many) and come at predictable times. There is little value to receiving our signals on your phone. This service is about convenience and profit, not interruption to your activities.
How can I receive Forex trade signals to my mobile phone?
To receive signals to your mobile phone you will need to either forward your email to your sms email address, use the Yahoo Messenger interface or use a forwarding service such as smscountry.com
What will a typical signal look like?
A typical pending order will look something like this:
SELL EURUSD 1.5740 SL: 1.5825 TP: 1.5650
BUY USDJPY 1.0350 SL: 1.0275 TP: 1.0420
SL = Stop Loss ۰ TP = Take Profit
I also “scale into” certain trades by breaking p the total risk into three entries. This reduces risk and gets you into positive territory much earlier in the trade.
We rarely give out market orders. In the very infrequent instance that we do give a market order, we give a range to enter. However, almost all of trades are pending orders.
If I can’t get to my computer when your signal comes out, can I get in late?
You can enter a trade at any price between the initial entry price and the stop loss. The closer to the stop loss, the more favorable the risk to reward ratio will be. NEVER enter a trade that in a less favorable risk to reward model than our trade alert offers.
In the rare case that you cannot get into a trade at the specified price or range, the trade should not be entered.
We are ACCURATE–many times to the very pip–in predicting a big movement even 150 pips away. Our signals are meticulous in stating where you should enter your trade. DO NOT STRAY FROM THIS. Our entries AND exits are calculated with precision and for VERY SPECIFIC REASONS. Never get into a trade late or at a price above or below our stated entry point. This is very important!
Do you use multiple targets or take profits?
Depending on the strategy, we sometimes submit a trade management call to close half your position. We do this in order to establish our “Risk-Free Trading Zone” on longer term strategies. There are some trades where we “scale in” to the trade. In that case, we’re dividing up our total risk into three entries. All have the same target and stop loss. This gives us a better risk to reward model.
How long do you hold positions?
Some positions will close within a few hours. Others will take a day or so. In the case of a “Weekly Extreme” trade we’re working on a position and the trade will be held until the trend has reversed. If you are a position trader, and trading Blue Zone trades, you might be in a trade for several months. With Blue Zone we take every pip a trend will give us.
How many pairs do you trade?
We trade 9 pairs: EUR/USD, GBP/USD, USD/JPY, USD/CHF, AUD/USD, USD/CAD, EUR/JPY, EUR/GBP and GBP/JPY.
What is the maximum number of open positions at a time?
We let the market and our risk management rules determine how many positions are open at any given time. We will not over-leverage in one direction though. This means that we will not go long on EURUSD and short on USDCHF at the same time. We’ll select the trade with the highest probability and the best risk model at the time of the trade.
How quickly will I start to receive signals after signing up?
After signing up for the service, you’ll be taken to a subscription page for the mailing list. Once added to that list, you’ll receive the very next signal. So, however quickly you can get that info entered is how quickly you’ll start receiving your signals!
Can I change my email address for signal delivery?
Yes, you sure can. Just contact us at support@mmedge.com and give your name, old email address and new one. It’s that simple.
What type of money management do you recommend?
As a professional trader with an MBA, Tim Barnby likes to use all of the tools in his bag to give our subscribers that heightened edge that locks in their profits. Our signals all come with a recommended risk level. This risk level is the percentage that Tim is risking in his own account as he places this trade. For a little more information on money management, see this video.
Do I have to watch the market and understand charts?
No, we will take care of all of that for you. You will only have to make the decision as to which trades you wish to take and on which you will pass. If you enjoy staring at charts all day, by all means, go for it!
Do you offer support to your subscribers?
Yes, we offer email support 24/7 and always respond to subscribers. I usually reply to you within an hour or so, but almost always within 24 hours.
We offer trade management support in the middle of trades to ensure your profits are as high as possible. You will never be left alone to figure out how exactly to use our FX alerts. We are here to help and make sure your account grows and grows and grows. It’s our measure of success!
Are your signals auto-traded?
No, we do not offer any automated trading at this time.
No, at this time we do not manage account and don’t plan on it anytime soon!
How much money do I need in my account to trade with 2 lots?
All of Tim’s subscribers are given his outstanding Master-Class Forex Money Management System to use with his trades. He’s used his MBA and experience in investment banking to develop this system. It’s phenomenal.
I can’t answer how much money you need to trade 2 standard lots because it varies with the stop loss of each trade. The amount of money you’re placing on each pip is directly tied to the size of the stop loss.
Look at it this way, if you are risking a standard 2% on a trade, does it matter how big the stop loss is? 2% is 2%, right? Yes and no.
If you have a $10,000 account, 2% is $200. If your stop loss is 30 pips or 500 pips, you’re still only risking $200 or 2%. So, here’s where it gets good. If you have a nice, tight stop loss, your win is much bigger on those tighter stop trades. With a 30-pip stop loss, each pip is worth $6.60 ($200/30). If it’s a 60-pip win, you’ve just made $396. If your 500-pip stop loss stops out, you’re only out your 2% or $200. Each pip on this trade is now worth $0.40 ($200/500). But, if you gain, say 500 pips, which can be very difficult and risky in Forex, you only earn $200.
Your profits are completely and directly tied to your stop loss. Small wins with small stops are the best trades you can find.
I’m sorry I cannot answer your question but anyone who gives you a flat answer to that question doesn’t know a darn thing about making money in Forex. And if it’s your Forex broker giving you advice on how much to trade or leverage, do not take it. They want all of the money in your account and not for you to succeed and make money! Think of your Forex broker like “the house” in Vegas!