FAQ
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.
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 offer free forex signals?
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.
Do you place counter-trend trades?
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.
Do you report accurately?
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 take 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 do I cancel my account with you?
You must cancel your subscription at PayPal. I have no control over your account, and you are responsible for managing your own subscription. Once you have paid for a month, you will continue to receive signals for the month. I have a strict no-refund policy!
How many signals will you send?
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 will I receive your signals?
We send signals via email, Yahoo Messenger and on our website.
Can I get your signals via SMS?
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.
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 do your signals look like? Do they include stop loss and targets?
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.
How long do I have to enter your trades?
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 manage the trades once they are sent?
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 will I be in your trades?
Some positions will close within a few hours. Others will take a day or so. In the case of a “Alpha” 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.
Which 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.
How many trades will you open 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 do I get set 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?
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.
How do you manage money?
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.
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!
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