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Questions on FX Money Map in General
Questions on How To Use FX Money Map
General Questions on Forex
Most Asked Questions
for Andy
Questions on FXMoneyMap in General
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What training do you offer?
The
Grids are a management tool and
therefore there are many ways to
trade it, we offer daily Live
Webinar where you'll learn
the different strategies in the
Live Market, then you'll develop
your own strategy that suits
your trading style best... |
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Can I lease for a month or
demo for a week?
Even the most intelligent people
I know cannot create their own
strategy in a month, this is a
professional market and
therefore you need to find out
what style of trading suits you
the best; once you do this you
can start refining a strategy. |
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How
accurate are the GRID?
You
must first understand that the
Grid is a management tool...
There are many ways to trade it,
and combine it with the right
strategy and proper stop/loss &
take/profit, you can achieve 90%
accuracy |
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Can you guarantee that I will
make money?
There
is no guarantee, and if any
Forex software/product/guru
guarantees that, I suggest that
you RUN as far away as possible
from them. In this professional
market, it takes discipline,
time, and effort. It's like
supplying you with a car, you
could
go out and crash it straightaway
or take our lessons, learn what
to do, and drive safely without
crashing and burning. It's your
responsibility to drive your
car. |
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I can get your Grid for free
/ There is a Free Grid version
out there?
Both
Yes and No. You CAN get
an imitated version of just one
currency pair for free, but that
version lacks proper BUY/SELL
Lane, Fibonacci Wave Analysis,
and the calculation on Dynamic
Fibonacci Roadblocks are all
different from the real
version. Also the free version
does not come with Andy Shearman
and his Live market analysis
which he shares with you
everyday. Our Fibonacci Grids
will show you what is happening
in the entire market as one Grid
takes up a very small portion of
the screen, and you can learn to
see the ENTIRE MARKET in just
one glance. |
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How long will it take me to
learn?
Everybody is different. Firstly
you have to learn the basics and
you do this by coming into our
daily Live sessions with either
JH or Andy Shearman. Then once
you have got a handle of the
Grids and the trading levels you
will have built up your
confidence at this stage where
you'll determine what kind of
trader you are going to be and
only then do you start
developing your own strategy
with our assistance. This is a
professional market and takes
time and effort on your part to
learn and become disciplined in
your actions. We never know how
long this is going to take and
that’s why we offer a minimum of
3 months lease program. |
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How do
I know that your company is not
going to go bust in a few month
and I will lose my money?
We
have a 10 year lease on our
Malibu trading room so we
don’t expect that to happen,
but if for some reason it
did then software has been
set-up from a different
company so that you will
keep getting the feed and
support, upgrades etc.
Trader
House Global (LTD) in UK has
been established for more
than 7 years. During the
last 7 years, we have sold
thousands of copies of FX
MoneyMap and we have plans
to expand to other parts of
the world. We have a solid
financial background and we
are currently debt-free.
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What is
the success ratio?
With
each trader it is different, it
solely depends on your trading
strategy and style.
With
over 95% of retail traders who
end up failing at trading the
Forex Market, we are proud to
say that everyone that follows
our trading plan, attends our
daily webinars, and puts in
effort into learning, has been
successful in the past, with few
minor exception due to family or
personal issues.
Remember, Andy has over 26 years
of experience in Forex Trading
at a level that there is just
very little comparison. He
understands the market, knows
how to beat it, and could teach
you to do the same. All you
need is to put in your time and
effort. |
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How can
I contact you?
You can
contact us via Telephone, Email,
and Live Support Chat. For more
information on contacting us,
visit our
contact page. |
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How much money do I need to
start a trading account?
You
can open a trading account
with $2,000 so you can trade
1 standard lot but at the
start the most important
aspect is to learn and
develop a strategy as that
is the hard part…
Once
you have done this and you
can consistently make
pips/points the fun part is
choosing a broker and
funding the account. Trading
this market should not be
rushed you have to take the
time and effort to develop
the skills to trade. We are
here to help you with that…
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Do we have to use your Broker?
No, you can use any broker
you like. However, we are
in the process of
negotiating with several
brokers and we'll offer
several options in the near
future.
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Where do you get your data feed?
Our
data feed is provided by
Gain Capital, which is one
of the biggest and oldest
FCMs in the industry. We
have developed a solid
relationship during the last
seven years and Gain Capital
is known for its data feed
reliability even during
important economic news
release time.
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What are the green(buy) and the
red(sell) buttons at the bottom
of the Grids?
We
have developed an interface
allowing people to trade
directly on the Grid. At
the moment, this function is
still being developed and
only demo accounts are
currently functioning. Once
its fully developed, we'll
offer several brokers to
choose from to trade on the
Grid Live.
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Questions on How-To Use FXMoneyMap
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What does the FXMoneyMap offer
me?
• The
ability to see the key
resistance and support
levels across different time
frames simultaneously.
• Instant analysis of 14
currency pairs.
• The opportunity to trade
currency pairs that you
might never otherwise have
considered.
• The ability to gauge the
likely extent of price
movement in the immediacy.
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What do the different shaded
regions on the charts signify?
Everything about the
FXMoneyMap is based around
Fibonnacci. The changes of
shading indicate dynamic
Fibonnacci levels.
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What are these levels?
They
are projected levels which
can be seen as support or
resistance levels depending
upon the position and
movement of the market
price.
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What are the colored lines on
the charts?
Again
they are Fibonnacci based
and can be seen as short
term, medium term and longer
term momentum lines in the
appropriate time frame.
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What do the green and red
boxes on the grids represent?
In
each time frame the two
boxes give the position of
the green and burgundy
(shorter term) momentum
lines on the corresponding
time frame chart.
If the boxes are below the
amber market price line they
will be green and red if
above the amber price line.
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What is the significance of
the green or red boxes?
If the
boxes are turning green then
support is growing for ‘buy’
or ‘long’ trades. Boxes
turning red would signify
that ‘sell’ or ‘short’
trades sentiment is
increasing.
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What do the green and red
lines on the grids represent?
They
indicate that in that
particular time frame there
is a gap of at least 10 pips
…green if in a long trade
and red if in a short
trade…before hitting the
next level in that time
frame.
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Why does there only appear to
be one green or red box in a
timeframe at times?
When
the green and burgundy lines
on the chart are at the same
price the boxes will be
coincident. (If they
coincide with the market
price as well you will only
see an amber box.)
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What are the best times to
trade?
Whilst
you can find good trading
opportunities at any time
the London Open….circa
7.00am UK time…is usually
the best time to trade the
Forex markets ( London does
more Forex business than all
the other markets put
together). After that the
New York Open often provides
good trading opportunities.
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Are the any times when I
should not trade?
Certainly as a beginner you
should not trade into, or
through, data releases and
it is also best to avoid
times when the likes of
Trichet and Bernanke are
speaking.
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Why should I not trade at
certain times?
The
release of data such as
…Non-Farm
Payroll….Confidence
figures…Interest rate
decisions…can be very
unpredictable and indeed
often contradict the prior
to release consensus figure
for that item. At times of
data release you might find
that your broker widens the
spread on their rates or
they do not guarantee your
stop loss.
Speeches by leading Finance
Ministers can also lead to
unexpected announcements
that can move the markets
instantly thereby not giving
you the chance to exit a
trade quick enough to avoid
a loss.
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What is the function of the
Setup meter?
Even
with a three or four screen
display it is impossible to
try and keep your eye on
even a handful of currency
pairs. The Setup Meter is
designed to alert you if
certain pre-programmed
conditions are met and is
consequently suggesting that
you look at that currency
pair…it does not mean you
would necessarily trade
immediately…your trading
conditions have to be met
before you put on a trade.
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When can I start to trade a
live account?
If you
have traded the Forex markets before then as soon
as you are familiar with the
FX Money Map package trading live
should be no problem.
If, however, you are a
beginner you should only be
trading with a demo account
initially. Switching to a
live account will always be
a personal decision and it
should only take place when
you are happy with your
trading strategy and are
consistently making a
‘profit’ on your demo
account.
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General Forex Section
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What exactly 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. Some
estimate that it would take
the New York Stock Exchange
about 2-3 months of trading
to equal one day in Forex!
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How fair is the Forex market?
The Forex market is so large and
is composed of so many
participants that no one player,
not even a large government, can
completely control the long-term
direction of the market. So,
many experts have called Forex the “most level playing field”
on earth. |
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Where is the central location
of the Forex market?
The word market is a bit
misleading in describing Forex trading because for most
currency instruments there is NO
central location where trading
takes place. The bulk of Forex trading is between a few hundred
large banks that process
transactions for large companies
and governments. These
institutions continually provide
exchange rates for each other
and the broader market. The most
recent quotation from one of
these banks is considered the
market's current pricing for
that currency. Trading occurs
over the internet, by telephone
and through computer terminals
at hundreds of locations around
the globe. 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.
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What are the primary
currencies traded in Forex?
For most online brokers, there
are four main currency pairs
that are heavily traded and that
offer almost immediate
liquidity: Euro / US Dollar US
Dollar / Japanese Yen British
Pound / US Dollar US Dollar /
Swiss Franc. |
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How
often does a person have to
trade?
The beauty of self-trading Forex is that a person can trade as
occasional or often as they
want. They can learn to trade
longer-term strategies that may
require checking the market as
little as once or twice a week.
Or, they can learn to trade
shorter-term methods that may
require watching the market a
few hours a day.
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How much money does it take
to open a real money trading
account?
A
new student should first
practice with a free
demo-trading account where
“pretend” money is used. When
they feel ready to trade with
real money, a “mini” account can
be opened with as little as
$1000 USD.
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Why is Forex so popular?
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.
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Most Asked Questions for Andy Shearman
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If
your system is so good, why
are you selling it? Or why
don't you just focus on
making money from your own
system than to share with
others?
This is a very good
question, and I am sure it's
a question that comes up
very frequently. Unlike
what other mentors or gurus
who would tell you that
"it's time to give back" or
"I make so much money that I
honestly don't care", or
"I'm a great person so I am
sharing this with you"...
You have to understand that
Forex is and always has been
a risky business. Of course
I could just focus on
trading alone and make a
good living doing so, but
there is always a HIGH risk
factor involved. As a bank
trader, you'd always want to
evaluate your risk-to-reward
ratio, and my decision was
to share my system and trade
it at the same time. In
addition to the fact of the
satisfaction of seeing
success from my business,
which I have labored over
seven years building it from
ground up, I have been
blessed to be friends with
some of the nicest people
whose lives have been
changed forever by my
system.
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Won't your system
stop working if you
share it with too many
people?
Quite the contrary, if
EVERYONE trades the
Forex using FXMONEYMAP,
it would just become
more accurate. People
would collectively enter
the market together, and
exit the market under
the same conditions.
But since FXMoneyMap is
based on Fibonacci
numbers, or natural
movements of currency
pairs, even if there are
only a limited number of
people using it, it is
still extremely
accurate. That is why
the Forex Market is
known as the "Fairest"
of all trading markets,
not one person, one
entity, one Bank, even
one Country can
manipulate a currency
pair for long periods of
time. It will always
come back to its natural
rhythm.
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