The versatility and dynamic nature of this method makes it an excellent approach for both trend traders and counter trend traders who are trading the Forex market or other financial instruments. The scalability also makes it great for short, medium, or long term traders.
What perquisite knowledge is required to understand and implement these strategies?
A basic understanding of the Forex market and trading is helpful, however we will teach you everything you need to know to be successful. As a matter of fact sometimes I believe the less you know the easier it is to immediately implement a new approach.
Are these strategies valid for longer and short term traders?
The Forex market is fractal in nature which means the same price patterns that form on the higher time frames form on the lower time frames making our approach completely scalable for long or short term traders.
How long does it take to learn and become profitable with these strategies?
Since every individual is different this completely depends on your ability to learn, understand, and implement the method properly. With that said we do teach you objective trade setups that you can begin practice trading with immediately.
Do you show live trading examples?
Absolutely. In the included ongoing education section we will show recorded live trade examples as well as sim trade examples.
Do you have live trading results to show these methods work?
This is the same approach I use every day to trade the Forex market. As a member you will have access to my own live trading activities and results via the myfxbook platform.
Is there any follow up support available?
I will provide both live and sim trade examples weekly so you are able to see this method applied to the live market. You may also contact me at any time via my Forex Mentor email with any questions or support needs. Also, in addition to the course you will receive 14 days access to the Daily Trade Plan where I analyze the market daily for our members.
How many divergence setup on average on a given day?
This completely depends on the type of market (ie: trending, corrective) we are in and the time frames (ie: 5 minute, 1 hour) you choose to trade.
Do I need to be in front of my PC all day?
Since this method can be applied to any time frame by any type of trader it is completely up to you how much time you choose to be in front of your PC looking for trading opportunities.
Is Divergence a lagging indicator?
Divergence is not actually an “indicator” in itself, but a way to use both price action along with an indicator to spot waning momentum making it one of the few leading indications available in the Forex market.
What charting platforms are required for me to find and trade these strategies?
Any charting platform that offers Forex prices and a basic momentum indicator such as MACD, Stochastics, or RSI. These are freely available from most Forex brokers with a demo or live account, or you can opt to use another paid Forex charting service.
Do these strategies work in other non-Forex markets?
Yes this method can be used to trade any liquid financial market. I use this method to analyze the Forex, US Equities, as well as commodities such as oil and gold.
How long have you been trading/teaching these strategies?
I have been trading the Forex market for over a decade and teaching divergence for about 6 years. I have mentored traders here at Forex Mentor since 2008.