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Forex Trading
Why FOREX Trading?
Do I need to have any specific academic background in order to be successful?
How is FOREX trading different from traditional securities and stock trading?
How high are the risks in FOREX trading?
Can I start part-time from my home or office?
Is there any special experience needed before becoming a Forex Trader?
How Soon Can I Start Trading?
 
Auto-Trading Platform
 
ProSignal’s Professional Charting Software & Trading Strategies
 
ProSignal’s High Paying Affiliate Program
Q. Why FOREX Trading?
A. Forex traders have 24-hour access to a market with superior liquidity to all the equity markets in the world combined, providing the flexibility to trade the Asian Pacific, European and/or U.S. trading sessions. Plus you can trade from home, your office or virtually anywhere in the world and receive rapid trade execution (under normal market conditions). FX dealers offer commission free trading (cost of the spread only) and substantially exceed the common 2:1 margin offered by equity brokers or 15:1 margin of the futures market, with most offering up to 100:1 leverage. Leverage is a powerful tool, and without proper risk management a high degree of leverage can lead to large losses as well as gains. In Forex you can familiarize yourself with a few currencies and trade on the daily market volatility or the longer term trends.
Q. Do I need to have any specific academic background in order to be successful?
A. Not at all. Successful active traders come from many different professions. Very often, people who are very successful at school or at their businesses wrongly believe that their success will be automatically transferred to Forex trading. It is usually not the case. Active trading has its own learning pace and our trading course and software will prepare you to enter this exciting field.
Q. How is Forex trading different from traditional securities and stock trading?
A. In general, forex trading is usually a short-term investment strategy in relation to other investment vehicles. Trades may last a few minutes to several days with a short-term strategy or several months to several years with our long-term strategies. With a short-term strategy, the goal is to predict relatively small short-term moves in the market, compared to long-term growth investments like stocks, mutual funds, bonds, or long-term notes that may be redeemed at a future date. 

When comparing ProSignal's long-term strategies to other markets, the biggest difference is that in forex trading, you can earn daily interest on your open positions based on your leveraged trade volume while most other markets don't pay you any interest at all on your open trade. Rollover is the interest paid or earned for holding a position overnight. Each currency has an interest rate associated with it, and because forex is traded in pairs, every trade involves not only 2 different currencies, but their two different interest rates. If the interest rate on the currency you bought is higher than the interest rate of the currency you sold, then you will earn rollover (positive roll). If the interest rate on the currency you bought is lower than the interest rate on the currency you sold, then you will pay rollover (negative roll). Rollover can add a significant extra cost or profit to your trade.

Over the course of a few years, this interest can accumulate to hundreds of percent depending on the interest rates and how much you are leveraged.* For example, if you have $10,000, you could open 10 trades of $20,000 each ($200k total trade volume) and earn or pay daily interest on each of these open trades for as long as your trades are open. Your risk is the exchange rate between the currencies you bought and sold but the interest is 100% predictable and guaranteed. If the average interest rollover rate per trade is 4% per year on $100,000, then your return or cost in interest alone would be $4,000 or 40% on your $10,000. This is before any profit or loss is taken from your trade positions as a result of currency appreciation or depreciation.

Q. How high are the risks in FOREX trading?
A. The risks in forex trading can be high. 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 want to develop in FOREX trading.
Q. Can I start part-time from my home or office?
A. Yes, this is highly recommended before committing to full time trading.
Q. Is there any special experience needed before becoming a Forex Trader?
A. No, but any experience in the market would be advantageous. Familiarity with any kind of trading is helpful. The better your background, the easier it will be to get started.
Q. How Soon Can I Start Trading?
A. The typical timing from the time you sign up to the time you actually take your first real trade varies from individual to individual. You can begin trading on the live Demo account the same day, however, if you are a novice trader, you should not begin trading real money until you practiced trading for some time on demo account. By then, you will have become comfortable with our software and developed a “feel” for the market so you will have the confidence to enter your trades without second guessing.
 
Auto-Trading Platform
Q.

Do I require the platform to be connected to the Internet permanently?

A.

No, all trade signals are executed on Remote servers, therefore is not a requirement to keep your PC running for trade execution on your account. You are required to connect to the internet to set your Money Management settings initially.

Q.

How can I view my trades?

A.

Via the Auto-trading Client Software, that can be downloaded to any PC and installed.

Q.

Does the platform allow hedging?

A.

Yes!

Q.

What are the costs for the signals and trade execution, are there any other charges?

A.

The only charge the client pays is $1 commission per round turn in addition to the broker spread. There are no other charges for signals or platform rental.

Q.

Can I set leverage with your platform, what if signal provider wants to buy $100k but I only want to open $10k?*

A.

The client sets the leverage for each currency pair to their requirement, but please keep in mind that increases in leverage increases the potential losses to your account. The signal provider only sends the signals, not a suggested lot size, a client can trade from $10k lot upwards for each pair they decide to trade. There are 3 Modes of Money Management:

(i) Fixed Lot – Fixed Lot size per trade.
(ii) Fixed Ratio – Fixed Account % Risk per trade on Principal.
(iii) Fixed Delta – Increases or Decreases lot size dependent on Account Balance.

Q.

Can I trade any signal Provider I like?

A.

Only signal providers listed within the Portfolio Builder section of the platform are available.

Q.

How do I get started, what is the process and how long does it take?

A.

Open and fund an account on our Order Page and be trading within 24 to 48-hours.

Q.

How do I know when a trade is opened and closed on my account?

A.

If enabled, you can receive a notification alert to your email address.

Q.

Does your platform support multiple strategies in parallel?

A.

What happens if Provider A is short on EURUSD and Provider B tries to place a long EURUSD trade? The ProSignal Autotrader platform will recognize signals from multiple signal providers and hedging is used when necessary.

Q.

Can I close or change the Stop-loss or Profit Target manually myself?

A.

Yes, you can close or modify a trade signal, however it will be re-adjusted again if a new modify order is placed by the signal provider after the client adjustment.

Q.

If I close a trading signal, when the signal arrives to close the trade, will it then put me in a new open position?

A.

No, signals to open and close are distinctly different, if you manually close a trade, no position will be taken when the close order arrives. The next new trade to open will executed on your account.

Q.

What happens if I disable money management for a signal provider when I have an open position, how will the trade be handled by the system?

A.

If you remove a signal provider from your portfolio, any open trades will be closed off when the close order arrives, but a new position to open will not be executed.

Q.

What happens if I change my Lot size for a Currency Pair when I currently have an open trade in that pair?

A.

The trade will be closed with the lot size it was opened with, the next new trade to open will be reflected with the new money management settings.

Q.

What are the margin requirements for a Trade?

A.

The same as the underlying broker account margin levels.

Q.

Which is the best system to trade?

A.

This is left to the discretion of the client, we provide them all the tools and trade history for them to make an informed decision regarding their investment choices, but do not provide investment advice.

Q.

Is the performance figures realistic to what people are getting on their account?

A.

There are many LIVE clients trading these systems, the performance figures are regularly checked to ensure they are aligned with LIVE trading account performance.

Q.

Do the performance figures include commission?

A.

No, the performance does not include the $1 round-turn per 10k lot commission.

Q.

How long does the DEMO account last for?

A.

DEMO accounts last 30 days but may be renewed upon request.

Q.

What if I want to do a manual trade in addition to Autotrades?

A.

You are able to open manual trades in addition to autotrades, these will be labeled as “manual” in signal provider column on the ProSignal Autotrader platform.

Q.

Do the performance figures include swap values?

A.

Yes, they include the swap rates.

Q.

How do I know what size of stop a signal provider uses, so I can calculate my risk?

A.

You can contact the signal provider, or use the DEMO for 30 days to assess your potential portfolio.

Q.

How many systems/pairs is it possible to trade in a LIVE account ?

A.

It is possible to trade 100 system/pairs in the LIVE account version.

Q.

Does the DEMO account have the same functionality as the LIVE version?

A.

The DEMO account has the number of pairs to trade restricted to a maximum of 20 systems simultaneously, it also has only 1 mode of money management (fixed lot) instead of 3. In addition to this in DEMO mode, trades will not show the Stop Loss or Target Point to avoid signal misuse.

Q.

Can I stop trading at any time?

A.

Yes, you can close all your positions and disable your portfolio instantly, you are in complete control at all times of your account.

Q.

What does Max DD mean in the signal provider list?

A.

It is the largest peak to valley drawdown for that pair, this figure can be used for evaluating your risk.

Q.

Why are some pairs showing less profit than other pairs with same number of pips?

A.

This depends on the pip value of the currency pair in question. Different currency pairs may have different pip values.

Q.

Can I trade various modes of money management in the same portfolio?

A.

Yes, you can have Fixed Lot, Fixed Ratio, and Fixed Delta settings applied to different systems within your Portfolio.

Q.

When is the commission charged, at end of month or every trade?

A.

The commission is applied when each trade is closed.

Q.

Is the Auto-Trader platform Windows Vista compatible? I have problems opening the Autotrader after installation.

A.

The new build works perfectly in Vista.
There are 2 ways around running the application in the Vista OS.

1. When prompted to select a destination location to install the product to, please use anything but the C:/program files. You can use desktop, etc. Windows Vista does not allow writing to the program file directory normally.
2. If you have administrator rights you can open up program files to allow write permissions.

 
ProSignal’s Professional Charting Software & Trading Strategies
Q.

How do the Automated Alerts work?

A.

Each alert file is comprised of a formula developed by ProSignal that has been designed and tested to work for a particular currency pair and candlestick time frame. In simple terms, an alert formula is based on the current and historic movement of price as well as the historic occurrence of the alerts themselves. 

Q.

Which currency pairs do the alerts work on and in what time-frames?

A.

Each ProSignal alert formula is specifically designed for a particular currency pair and time frame. When you opened your charts for the first time, each alert that we have was attached and working on the appropriate chart. For the most current list of available alerts, please refer to our Performance pages for each type of strategy: Short-Term, Swing-Trading, Interest-Earning.

Q. What's the difference between ProSignal's Long-Term & Short-Term Signals?

A. ProSignal's automated short-term signals are designed specifically for active day traders seeking relatively small price moves within a few hours to a few days (depending on how quickly the market moves). Our long-term signals are tailored to those who don't have time to continually watch the market but would like to take advantage of relatively large long-term price trends. However, all traders should understand that the long-term strategies have a significant advantage over the short-term strategies for 2 reasons. 

1. The long-term strategies have very few entry signals per year which keeps the broker's spread fees extremely low. On average, there are about 10 entry & exit signals per year which means the spread fees are approximately 60 pips per year. 

2. Since 90% of the long-term trades are in the direction that earns daily interest, this accumulates to approximately 32% per year (on average) from interest credits alone when trading at just 2x leverage per currency pair*. In contrast, short-term day trading can rack up a lot of spread fees over the course of a year due to hundreds of round-turn trades. Just 24 trades per month equates to approximately 288 round-turn trades per year. At a modest 4 pips per trade, that equates to 1152 pips in spread fees per year. At 2x leverage per currency pair, that equates to about 23% per year in spread fees alone which needs to be made back just to break even*. In this example, the long-term strategies have a 55% annual advantage over the short-term strategies. This is why we named our Long-Term strategies the "Advantage" trading system. So, while some traders would consider long-term position trading to be somewhat boring, we feel that it is the easiest route to more consistent trading. However, for those who want the best of both worlds, they can have it. ProSignal provides signals for 3 different time-frames: Short-Term, Medium-Term, and Long-Term.

Q. When Can I begin trading ProSignal's Automated Alerts?
A. You can begin immediately after your credit card is approved for your first month's subscription fee. Upon credit card approval, you will be given a download link so you can immediately download our charting software with built-in automated trade alerts and begin watching the forex market in real time. To trade our long-term signals, you do not have to wait for a new entry signal. The system is designed so you can open trades on each signal simultaneously at the current market prices. You will also be given access to ProSignal's Member's Only backroom website where we walk you through 8 easy steps to getting started. In our Member's only website, you can sign up for a FREE Demo brokerage account so you can start placing practice trades immediately using the Automated Signal Alerts and optional Trading Techniques taught in our Study Manual.
Q. I live in Europe, will your trading approach work here?
A. Although our customer base is primarily North American, the ProSignal trading system and charting software can be accessed and implemented from anywhere in the world as long as you have an internet connection. In addition, our Forex brokerage services are also accessible online from anywhere in the world with 24-hour telephone customer support should your internet connection ever fail.
Q. What kind of Internet connection do I need?
A. Although it is possible to successfully trade and monitor your charts using a regular phone line connection, a high-speed connection will allow you to search through your charts for trade signals much more quickly & easily. Three recommended high-speed Internet connection services are Cable, DSL, and ISDN (where available). Call your local TV Cable or Telephone Service Provider for pricing and availability in your area.
Q. Do I need a browser to run the ProSignal Charting Software?
A. No! The charting software is downloaded to your hard-drive and opened from your computer. When you are running the charting software, you are connecting directly with the data-feed server and do not need to connect through web browsers which may slow some applications.
Q. What Equipment Do I Need?
A. A Pentium 1 Computer or better running Windows 95/98/2000, ME or XP with a 56k bps modem or faster. Right now the charting software does not support Apple* or Linux. You will also require a connection to the Internet, preferably high-speed such as Cable, DSL, or ISDN, however dial up will work. If you want to receive your Automated Alerts by cell phone, you will need a cell phone with Text Messaging service. Check with your cell phone service provider for pricing. (*Some traders have been able to run our software on a Mac using Virtual PC, however it can be problematic and slow)
Q.

How can I verify that my alerts are working properly?

A.

To verify that your alerts are attached to your charts correctly, go to: Automated Alert Overview.

Q.

What markets do ProSignal's alerts work on?

A.

The system has been designed and tested only on the Forex Spot market. You may be able to use it to trade forex futures contracts or other potential markets, however we have never tried it and therefore cannot recommend it.

Q. Can I use the ProSignal trading system to trade other markets?
A. The ProSignal Automated Alerts were specifically designed for trading in the FOREX spot market but the trading techniques taught in our Trading Manual can be applied to any financial market.
Q.

Can I get the alerts only with no charts?

A.

Yes we offer a "Signals Only" subscription service for $97/month. This is $100 off our standard membership fee that includes access to our charting software and live price feed. The signals can be sent to your e-mail or to your cell phone. You will also continue to have access to all the materials in the backroom of our website. If you're interested, contact support and we'll tell you how to activate your subscription.

Q.

What are the white arrows?

A.

They indicate a triggered stop-loss or limit (take profit). Please click here for a full description in the overview of our automated alerts system.

Q.

How to receive alert notification by e-mail / cell phone?

A.

You can set your charts to send an email or text alert to your cell phone on every alert. To receive alerts by cell phone, you must subscribe to Text Messaging with your cell phone service provider. The message will notify you of a buy/sell alert entry price or exit alert for each strategy. For instructions on how to activate email/cell phone alerts, go to Alert Notifications page in our Trading Room. Please understand this is not a fail proof system. If, for example, we are having problems with our internet service, or if you are having problems with yours, there are times when a notification message may be delayed or will be sent but hung up in "limbo" before it appears on your cell phone or email.

Q.

When do I receive alert notification?

A.

All alerts are generated by the charts running on our central signal server. Entry signals are sent immediately following a real-time alert. Soon after, we will manually send out the stop-loss and limit price of each entry signal. When there is a real-time exit alert, you will receive an immediate email/text alert to exit the trade.

Q.

Can I download the charting software on more than one computer?

A.

Not a problem at all. You can download the charting software onto as many computers as you like. If your charts are already open on one computer, it should give you a warning that you are about to knock that computer off line when you go to open them on a different computer. If you want the ability to have two computers monitoring at the same time, at the same IP address, you can request to have an additional datafeed made available. There is a $20 additional monthly charge for an additional datafeed at the same IP address.

Q. There are many Forex trading systems. What separates ProSignal from the others?
A. We believe what separates ProSignal from other Forex trading systems is the combination of expertise, honesty, technology, extensive testing, Automated Signal Alerts to your email or cell phone, and an end product that delivers a simple tools to effectively develop a trading strategy that you can back-test and verify for yourself. The ProSignal Charting Software has a Back-Test feature which allows you to back-test our automated signal alerts as far back as January 1st, 1999. In addition, we always clearly state how our performance numbers were derived (which returns were generated by back-testing historical data and which were generated in real-time). We have yet to see any other signal provider state that any of their performance was generated in real time.
Q.

How accurate are your signals?

A.

For information on the results of ProSignal signals please visit our Past Performance Page.

Q. What Is Live Demo Account Trading?
A. A live demo account looks and acts just like a real trading account except it does not contain any real money. It is set up with “play” money for the purpose of practicing & sharpening your trading skills within real market conditions without risking any of your own real money. If you are a novice trader, we recommend that you trade on a demo account until you have had at least 1 or 2 consecutive profitable months in a row. This is our way of being responsible to you and it's a vital and essential part of the learning process. Instructions for establishing a demo account are detailed in ProSignal's backroom website which is accessible through a link in the ProSignal charting software located under “Help”.
ProSignal’s High Paying Affiliate Program
Q.

How much does is cost to become an affiliate?

A. Nothing! It comes free with every registration.

Q. How much can I make?
A.

The average commission will vary depending on how many active clients you have and trade volume per referral. there is no limit to how much you can make from a single referral, as some clients may trade large volume of contracts.

Q. How do I get a free Self-Replicated Affiliate website?
A.

When you sign up for our affiliate program, you will be asked to choose a personal extension for your free self-replicated ProSignal website, such as www.prosignal.net/XYZ. Your Affiliate welcome email will include the URL to your free self-replicated website. This is the website address you will direct all of your potential clients to so our system can automatically track all of your potential clients. Once a potential client visits your affiliate link, a tracking cookie is placed on their computer for 90 days so that even if they sign up for our services directly through our homepage within 90 days of visiting your affiliate link, you will receive credit for the sale since you were the first person to introduce them. This ensures that you receive full credit for all of your marketing efforts.

Q.

How do I find new clients?

A.

There are many ways to promote your ProSignal business. You can list your Self-Replicated ProSignal website in various search engines (pay-per-click and natural listings), place our Pre-Approved Banner Adds on various financial/investment/trading websites, join investment clubs, trading clubs, trade shows, and, of course, word of mouth advertising.

Q.

Am I required to submit my Social Security or Tax ID number to ProSignal?

A.

US Residents must submit their Social Security or Federal Tax ID number prior to receiving their first commission payment. Non US residents are not required to submit government ID numbers.

Q.

What forms of advertising are prohibited?

A.

Due to strict CFTC/NFA laws and regulations, affiliates are prohibited from producing any advertising materials of their own. Your free self-replicated ProSignal website and banner ads are pre-approved so please use these materials at your will.

All contents © copyright 1999-2007 Pro Signal. All rights reserved

Risk Disclosure:
* Without proper risk management, this high degree of leverage can lead to large losses as well as gains.

Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not actually been executed, the results may have under or over-compensated for the impact, if any, of certain market factors such as lack of liquidity. Hypothetical trading programs in general are benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. Substantial risk is involved.

Past performance posted by Signal and Systems Providers (“Providers”), is not necessarily indicative of future results. No representation is made that any account is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. The composite monthly results are primarily hypothetical results of the master demo and its representation of the Providers, though performance results displayed may represent a combination of live and hypothetical results and are not exclusive to either. There are numerous other factors related to markets in general or to the implementation of any specific trading program that cannot be fully accounted for in the preparation of hypothetical performance results and all of which can adversely affect actual trading results. In the event that specific trades were simultaneously executed in hypothetical and live, real-time trading, the lesser of the two results will be displayed. There is no guarantee that one applying these methodologies would have the same results as the hypothetically posted. Since trading successfully depends on many elements including but not limited to a trading methodology and a trader's own psychology, the web site does not make any representation whatsoever that the above mentioned trading systems might be or are suitable or that they would be profitable for you. Please realize the risk with any investment and consult investment professionals before proceeding. The trading systems herein described have been developed for sophisticated traders who fully understand the nature and the scope of the risks that are associated with trading. Should you decide to trade any or all of these systems' signals, it is your decision

Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the forex markets. Don't trade with money you can't afford to lose. Nothing in our course or website shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Day trading involves high risks and you can lose a lot of money.