Frequently Asked Questions About Simple 1-2-3 (S123) Forex Trader
Q: In a nutshell, can you tell the audience what Simple 1-2-3 is all about?
A: It is a dead-simple, 3-step, rule-based Forex trading system.
Q: What is the core principle behind this system?
A: Trend-reversal, Fibonacci, Elliott Wave Theory
Q: Why are you so excited about this trading system?
A: Simplicity, tells you where price is going, proven system. Used daily by creators to trade.
Q: Is it necessary to learn Elliott Wave and Fibonacci Theory?
A: No. We harness the power of Fibonacci and Elliott Wave Theory with our WaveCalc.
Q: How long have you been trading using Simple 1-2-3?
A: Lennox has been using this system to trade options and indices for more than a decade and most recently the Forex.
Q: What is the best way to learn to trade Simple 1-2-3?
A: Join the Simple 1-2-3 Forex Trader mentorship program. Start with the foundation course, watch sample trade videos, send in questions via email, attend member webinars, etc.
Q: Does the S123 Mentoring Program explain everything about how to use this system?
A: Yes, we created the S123 Mentoring Program to help committed traders to fully master this trading system.
Q: Is Simple 1-2-3 Rule-based or is there a discretionary component?
A: For the most part, S123 is a rule-based trading system. However, traders still need to make some discretionary decisions when identifying reversal patterns. This is all explained in the S123 foundation course and follow-up trade example videos in the mentoring program.
Q: Are there circumstances where breaking the rules is justified?
A: If you are new to S123, follow the rules because it gives you structure and confidence to make consistent trading decisions. If you start breaking the rules, trading is a slippery slope.
Q: If I am having trouble entering and exiting trades, will S123 help me?
A: Absolutely. If you are indecisive or lacking in confidence with your trading, this system will bring structure to your trading. We also send out alerts to subscribers when we see bonifide 1-2-3 formations to assist you in identifying great trading opportunities.
Q: Simple 1-2-3 sounds so simple. It sounds too good to be true. Is it?
A: Trading does not have to be difficult. The rules should be simple. But it will take practice to master any system. Peter: I was skeptical but I have now seen it in action and I am completely floored. It is uncannily accurate. Lennox: I believe a successful trading system has to be simple and straightforward. I strive to keep things dead simple.
Q: How accurate is S123?
A: The starting point of S123 is for traders to spot qualified 123 formations. The system offers excellent reward-to-risk when bonifide 1-2-3 formations are properly identified. We also teach clear trade and risk management rules because no system is 100%.
Q: How is S123 different from other trading systems?
A: It is simple to learn, rule-based with little subjective interpretation. It brings high probability trades to you. It tells you not only where to enter trades but where you should exit. It takes most of the guesswork from trading.
Q: What pairs and in what timeframe should I trade S123 with?
A: You can trade any pairs that meet the criteria set out by the system in any timeframe. However, we prefer to trade the 1-hour timeframe.
Q: What trading platform or broker do I need to use?
A: You can use any reputable Forex broker or trading platform. We recommend trading with a true ECN/STP broker.Our WaveCalc is a separate standalone program and does not require special software.
Q: Do I have to watch my trades all day long?
A: Depending on the timeframe of your trades. For longer-term trades you can set and forget as long as you set stops. Our system tells you where to take profit and where to set your stop loss.
Q: How long does it take to learn S123 proficiently?
A: 1 – 3 months. Be patient. Practice makes perfect.
Q: Do you provide alerts?
A: Mentorship members will receive 1-2-3 Formation alerts from Lennox as he sees them. (see example)
Q: What does the Simple 1-2-3 Mentorship Program Include?
Q: Does Simple 1-2-3 system work for longer timeframes (4hr & daily)?
A: Yes, the 4 hour and daily and even weekly charts work as well with S123. These timeframes are for the very patient trader. We like the 1 hour timeframe because profits can be made in hours without too much stress. Lennox personally trades the 4 hour chart when an opportunity presents itself.
Watch Lennox and Peter discuss Simple 1-2-3, Go Here »