Online Forex Trading FAQ
ONLINE FOREX TRADING FAQ
Trading Forex Is Never Easy.
Our years of experience in providing forex courses tells us that a forex trader needs to find a method that FITS him or her.
Online Forex Trading FAQ is a page to answer all your questions before you starting your journey as a Forex Trader. Please read our FAQ so to understand our philosophy to forex trading and forex training/forex course.
So we have plenty of hand holding and guidance by sharing our trade diaries where you see how trades are being formulated and executed real time, with the aim that you learn to trade profitably on your own.
FOREX TRADING, OFM, THE ALIEN ROOM FREQUENTLY ASKED QUESTIONS & ANSWERS
What is Forex Trading?
Forex Trading is the buying and selling of currencies in the foreign exchange market at a predetermined price. Forex trading or currency trading has the largest trading volume in the world. When retailers trade forex, they are in fact trading spot forex. There is no deliverables of actual money. Thus, when one trades forex, he/she is making money or losing money from the differences in prices traded.
Why is there such a strong interest in Forex Trading?
The foreign exchange market is unique and is very accessible to retailers like us:
- Huge trading volume, high liquidity – there is no fear of not able to enter or exit a position, neither the fear of single force that manipulates or corners the market
- Trades 24 hours a day – never miss a chance to trade, every moment there’s opportunities to trade and potentially make money
- High leverage – this means that you could use very little money to command/trade a lot of money. For example, on a leverage of 1:100, every $1 in your account can allow you to trade $100. This also means that you could start forex trading with very little money. In Advance Forex Course module 1, we explained more about forex leverage here
- Low startup capital – with higher leverage and the need for less margin, one could start forex trading as little as $200. Of course, we need you to consider your startup capital base on your trade plan. Read more about startup capital here.
Is Forex Trading suitable for me?
As of high trading, Forex Trading has risk. We think that anyone is suitable for forex trading as long as he/she has the desire for more money, understand risks involved and determined to achieve financial freedom as soon. We also need you to be realistic about it’s potential. While there are many people who made great money (see one of our live accounts returning 100% return in 4 week), there are also others who lost all their money funded in their trading account.
Do I need to spend a lot of time each day on Forex Trading?
Answers to this question is very broad in scope. Generally, amount of time spent depends on
- Trading style – For OFM Forex Course and it’s Tflow® Strategy, we spent about 1-2 hours analysing charts during weekends. During weekday, we merely spent few minutes to place trades. A scalping trading style requires a trader to sit in front of the screen for up to few hours to trade intensively.
- Length of experience – A more experienced trader of OFM will spend relatively lesser time analysing charts.
Will I lose money in Forex Trading?
Most traders (if not all) at any one point of time, will lose money. It is fine to lose money. We have to accept losses. Most important, we have to make more and lose less. Never hold on to your losses. It is painful to cut loss, but to make big money in forex trading, a traders must learn how to cut losses first.
How much can I lose from Forex Trading?
You will lose what you have funded, although in some cases, you could lose more than what you funded.
Imagine that forex trading is a business. You will stand to lose what you decided to put as your capital.
We recommend to divide your trade capital into 3 parts – one part to deposit with brokers as trading capital. Two parts to keep in bank. When you depleted the first part of your trading capital, transfer the remaining one out of two parts to fund your forex account. If you lose all the money again, then it’s time to raise red alert flag.
How much money can I make from Forex Trading?
It depends on how much you traded (i.e. your trading size).
If you trade 100,000 (a standard lot), every pip move is worth $10. So a 100 pips movement, you would have gotten approximately $1,000 profit.
On the other hand, if you trade 1,000 (1 micro lot), every pip move is worth $0.10. So a 100 pips movement is equal to $10 profit.
To learn more about forex pips, you can attend the lesson here.
Is it easy to trade forex?
It’s easy to carry your trading activities. So does it mean it’s easy to trade forex?
I think the crux of the question is whether it is easy to trade forex to make money.
The answer is no. If it is so easy to make money, then why does 95% of traders lose money?
Does it mean that there are people who don’t make money? No! There are many permutations to how forex trading can be that easy for one to make money. We think the most important is self-discipline.
What is Tflow® Method for Forex Trading?
Tflow® is a price action method that integrates time into it’s analysis. Core foundation comes from Applied Elliott Wave and Advance Fibonacci. However, it does not bears the complexity of Elliott Wave and Fibonacci.
Tflow Method is created by Binni Ong and Soh Tiong Hum. It was taught in TerraSeeds Market Technician Pte Ltd as a classroom course for 8 years before Binni Ong brought it to be offered via online forex training.
Is Tflow® proprietary? Can I find any Tflow® components elsewhere?
Tflow® is a price action method with core components from Applied Elliott Wave and Advance Fibonacci. There will be basic inputs such as support and resistance, trendlines, candlesticks, chart patterns that are being taught to students. These concepts are building blocks for Tflow® Forex Strategies.
However, the main part involving strategies and executions are proprietary to us, including:
- Time into price analysis for big move
- TH Box Analysis
- Wash & Rinse and it’s triggers
What’s included in Tflow® that makes this method so powerful?
- The mathematical way of analysing trend
- Combine time into price analysis so we can know when a big move is to happen
- Wash & Rinse phenomenon
- Able to trade Reversal and continuation conditions (Big Move, WRMB, H4R, H4T)
- Explosive move with 1234 pattern
- How anyone could earn while u sleep with limit orders
- How to turn a trade into free trade and be stress free while making money
How long will I take before able to use Tflow® to trade?
To learn Tflow® Forex Strategies, you need to attend both Advance Forex Course and Master Forex Course.
Course duration for each is set for a maximum of 2 months. We think that you will likely be able to complete the entire readings of concepts in 4 months.
Some completed the courses in few days. Some took few weeks. Progress depends on individuals.
However, we think that acquiring relevant experience in using Tflow® on actual trading is most important than reading it. Our recommended duration for you to aggressively acquire those experiences is minimum 3 months. We need you to trade alongside with our masters in “The Alien Room” to follow how Tflow® trades are being planned, executed and managed.
I’m an experienced forex trader who have read and learnt a lot. Is Tflow® still useful to me?
It’s not about how much you have learnt or read or the number of years of experience that you have.
The key is profitability. Everyone dabbles into the forex market seeking financial freedom and more money. If you are not consistently profitable with your method, then you want to explore whether Tflow® is the key to your questions.
Do drop us an email so we could help to evaluate your situation. It is not the first time that we turned away customers who want to learn Tflow®.
I’m a newbie, totally new to Forex Trading and knows nothing about it. Is Tflow® suitable for me?
In fact, Tflow® is best suited for those who are beginner in forex trading. More about Tflow® here.
Why must I spend extra money when I can read about price action concepts from the Internet?
We don’t mean to be rude, we just want to tell all forex traders simply – it’s all about profitability or whether you are able to make money.
As long as you are comfortable and profitable with your current methods or whatever that you have read, stick with it. We don’t encourage you to spend extra money, we also don’t want you to be clouded too. Just focus on making those winning pips.
However, do bear in mind, what’s mostly available on open sources are just concepts without full integration into an analytical framework and strategy. This is what Tflow® is strong in. We integrate everything (from what currency to focus on, how to search for potential trades, how to trade, how to manage, how to get your stress free trades etc.) to focus on making a trade profitable.
Integration and fit are key to a winning method
This is the same analogy to going to fight. You want to be fully prepared, fully equipped and fully trained so you could fight to win. Remember, every single cents is your hard-earned money.
What is unique about Tflow® Forex Strategy
Full writeup about Tflow® Forex Strategy can be found here.
Briefly, Tflow® Forex Strategy is a price action method integrated with TIME that has these unique characteristics:
- Great to trade in any financial instruments (Forex, Equities, Indices, Commodities) with active involvement from big players. The line of thought when designing Tflow® is about following big players flow.
- No staring at screen, but still active trading of 5-10 good trades a week.
- Swing trading style. You can keep your job and trade using Tflow® still. Many homemakers, working professionals, property agents and financial planners are our students.
- We look forward to MONSTER PIPS each time with EXPLOSIVE movements of 100-300pips and more. Our unique way to trigger allows to sell at top and buy at bottom, thus the reason why we able able to get few hundreds pips each trade.
- Mathematical way of analysing a trade
See our students forex trade performance.
How are Tflow® trades usually executed? Market or Limit?
We don’t encourage staring at screen.
We like you to trade to be financial free, yet still maintain your lifestyle.
So approximately half of our trades are market order (but takes about 3 mins every 4 hours or every day) and half of our trades are limit orders.
OFM FX Course
How many forex courses are available from onlineforexmaster.com?
We have two courses – Advance Forex Course and Master Forex Course.
Master Forex Course is a payable course, it contains key components to Tflow® Forex Strategy. Without taking this course, you will not understand Tflow®, neither will you be able to trade with Tflow®. Take Master Forex Course now, see ordinary people transformed into full time traders.
What is Advance Forex Course?
More on Advance Forex Course here. Advance Forex Course is really the basic foundation course which you need for forex trading. Note, as much as the name is “Advance”, we simple like this name because it allows you to advance (move forward) to next stage.
We recommend everyone to take the Advance Forex Course because it is a very good course, and there’s no risk at all. We don’t ask for your credit card, it’s FREE! Sign up now.
This course provides a good starting ground for beginner in forex trading. For experience traders, you will also learn about the building blocks to TH Box which is crucial to Tflow® Forex Strategy.
What is Master Forex Course?
As a beginner in Forex Trading, with zero knowledge to Forex Trading, which course should I take first?
We recommend Advance Forex Course.
This course provides a strong foundation to basic forex knowledge. It also lets you understand why forex trading is a way to build your wealth and achieve financial freedom. Most important, take this course to know whether forex trading is suitable for you.
I am an experienced forex trader, is Master Forex Course suitable for me?
Again this question is about profitability. Do whatever that would make you profitable. If you are profitable with your existing strategy, stick to it. If you like what you are going to learn from us, like our trading style, like those monster pips, then we welcome you into our community.
Your profitability in forex trading is not entirely about making money. It is also about making those money not at the expense of your health, your happiness or your love ones.
If you like what how we are trading forex, like the lifestyle we have while trading forex, then give Master Forex Course a try. Your loss is limited. If you do find a fit, then what you have gotten will be a lifelong success formula.
I am a slow learner, I’m afraid I can’t follow your teaching.
This is precisely the strength of online forex course. You learn at your own pace.
The maximum time permitted for Advance Forex Course is almost unlimited.
Maximum lesson time for Master Forex Course is 3 months.
If you can’t complete during these time, do let us know and we will extend for you. Reason for having a 3 month learning period is because through our 10 years of classroom training experience, we realised that getting into action (that is, moving into live trading) is more important than theory. That’s why we emphasised a lot on practical application with real time trading. Get a free forex demo trading here.
Additionally, while you are reading the study material, attend our forex webinars to clarify concepts and ask questions relating to your course.
What’s my trading schedule like as a trader?
I can’t promise you that you need only 15 mins a day only. Trading performance is in a way related to how prepared you are.
However there are 2 things that would really cut short your time spent in finding that Monster Trade:
- Every Forex, Commodity, Indices trade is screened through a thorough process. These are trades for our own private equity funds. We talked about these trades in “The Alien Room” too! So you could extract these trade ideas from The Alien Room.
- Earn While You Sleep trading style. Some of our trades are done on market order. A great deal is via limit order on a set and forget level. Once you gotten this level, the time spent on trading equals to time required to put your order through with your broker. That’s like 3 mins?
I am an existing TerraSeeds Tflow® student, am I eligible for re-course discount?
We can’t offer any recourse discount.
Onlineforexmaster.com is a different setup from TerraSeeds Market Technician Pte Ltd. Although they are by same company, onlineforexmaster.com is a separate business unit from TerraSeeds.
Furthermore, we have already reduced our course fee steeply. Together with complimentary ‘The Alien Room’ access worth $397, its a very good offer.
What is The Alien Room?
The Alien Room (TAR) is the place where we provide support to Master Forex Course students.
In TAR, students have special access to :
- Webinars from Binni and team of trainers
- Read trade diaries by profitable traders
- Read crazy forex thoughts
- Case studies of Tflow® trade setups
- Post Master Forex Course Q&A webinars
- Small group discussion and coaching
Attached a training manual of trade setups in The Alien Room.
To sum up, The Alien Room is the place that you read trade diaries of how traders formulate their trades. It can contain their tears, their frustration, likewise their joy of how money kept rolling in. Remember, whatever that you read are just crazy thoughts and not financial advice.
What services are provided in The Alien Room?
The Alien Room is a red-carpet zone where you receive privileged information to your forex trading.
There are 2 types of information:
- Educational related – webinars, blog posts, small group discussions where you clarify what you have learnt
- Trade related – webinars, blog posts, case studies of how trades are being managed and many others to increase your experience in forex trading
Inside The Alien Room, this is the place where read trade diaries from Binni and team.
Does whatever that happened in The Alien Room train on my psychology?
To understand why we said “Yes”, hear us out on our thoughts into trading psychology.
Trading brings out greed and fear in us as this activity involves money. At the same time, in itself, trading is a lonely activity.
During periods of winning, a trader will feel motivated as making money is a happy thing. However, when you have losing streaks, apart from losing money (which is a lousy thing), other negative feeling like fear of further losses surfaced.
Thus, trading requires lots of motivation and positive reinforcement.
This is why we structured our on-going support in this manner, where we want new traders to see how we trade, to feel the joy of winning and to reinforce their understanding by constantly repeating best practices. In turn, traders feel motivated, rejuvenated and recharged. Your psychology is now reinforced.
How much emphasis are you placing on on-going support?
A lot. We think that TAR is the most important step in forex trading.
Thus we are providing lots of hand-holding sessions and webinars, market thoughts and trade ideas and specifically how we would manage our positions in trade management and money management.
Why is it important to follow?
We are expert in our field (which is trading and finding trades) while you are expert in your own field.
We researched and carefully formulated our plans. Then we follow closely our plans. This is our secret to success.
Through our trade diaries, which we wrote in our free time, and earning a little to hedge our risk, we like to transfer these knowledge and experiences to you.
Most important, read these trade diaries for a period of time while you gather your experience. After you have mastered trading, then this skill stays with you forever. While you are mastering trading, it is also important to follow trade rules and money/risk management rules.
Are you providing trade signals?
We do not consider what is being shared in The Alien Room as trade signals. It is really our trade diaries and crazy forex thoughts. I want to emphasize: trade diaries, crazy forex thoughts.
What we said in TAR are our thoughts on market, on particular currency, on what we feel and what we might be doing. Yes, there will be price levels mentioned, but these are support and resistance levels.
We are traders too, so we understand it is important to learn and then apply what you have learnt into trading. We are after money afterall. Whatever posted in The Alien Room are just trade diaries of our trades, you can read it and see what you have learnt happening real time, live in the market.
You want to know the outcome of our trades, see live tweets trade results.
I am a TerraSeeds Tflow® graduate who took your classroom course, do I need to sign up for TAR?
Yes, if you still want to continue winning those monster pips and know what Binni and team are trading.
TerraSeeds Tflow® Graduates register for TAR here.
Why register for The Alien Room?
With technology advancement, change in lifestyle and that fact that we have a lot more overseas students, we are adding more supports for our students via webinars, real time trade thoughts, real time market analysis and small group online coaching.
With TAR, you will get more timely updates, more education and more trade opportunities. You won’t miss any lesson any trades because you could easily attend our webinars online with your phones or tablets anywhere, anytime.
What will happen to Tflow existing support?
Read more here. To sum up, trade ideas and thoughts will now be located in The Alien Room. Thus to continue reading these trade thoughts and ideas, it is necessary to subscribe for TAR access.
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Guideline for user encounter ‘503’ error message accessing onlineforexmaster.com
Some of you may have encountered ‘Error Message 503: Too many IP addresses accessing one secure area’ or similar.
Please note the following:
- Privileged members who attended our forex trading course were issued user id and password to access secure sections of this blog (that requires login).
- To prevent access to unauthorised persons, each user id can only access the secure area through a maximum of 10 IP addresses.
- In general, each piece of hardware e.g. laptop, ipad uses one IP address if it is accessing through an Internet access point.
- Some organisations employ dynamic IPs so a piece of hardware can utilise more than one IP address.
- Personal devices such as mobile phones using their own SIM takes up an additional IP addresses as well.
- If you have encountered error 503, it means that you have reached the maximum of 10 IPs.
- Please write to firstname.lastname@example.org and we will reset your access during office hours.
- If you persistently encounter this problem, you might want to take note to access this blog from limited number of locations only such as home and office.
Thank you for your kind attention.
HOW TO LEARN FOREX TRADING?
Attend a course. This is the first tip in article “How to make money trading forex online”. Maybe you think that spending on forex education will set you back with the school fees. But with our 10 years of experience working with successful forex traders, those traders who are properly trained will make back many times of their course fees.
As we kept saying, attend “Advance Forex Course” now. Your risk is literally zero!