Ask-Me-About Forum

[jglefler]

Hi, Loz,
Just a few "due diligence" type questions similar to the ones David asked above:

- What has been the success rate for your current group of students (can you put me in touch with 1 or 2 of them in the next day or so,I can phone them)

Hi Raych,

I am probably having more trouble perfecting this skill than most of the other students. Having said that... on my practice account I made over $1,000.00 on one trade a few days ago .

Thanks Loz... I'm not worthy .

John

[Loz]

Hi, Loz,
Just a few "due diligence" type questions similar to the ones David asked above:

no probs..

glad u are asking

- How much time commitment is needed (Im still tied up in January time-wise, will have more time in Feb)

as much as you can put into it... Mr. Gillis works full time, and spends an hour or so here and there and he's doing really well from my last contact... perhaps he and others could share their success.

- What has been the success rate for your current group of students (can you put me in touch with 1 or 2 of them in the next day or so,I can phone them)

extremely well considering the lack of experience each have. as to their phone number, that's not up to me, you'd have to contact them via the board here, or they could offer their number to you so you both can speak on the phone.

- How long will it take from starting the course before we see any type of returns. I assume your students start investing while doing the course?). Just want to get some idea of timelines.

no, that would be irresponsible of me to have them invest funds and use those while learning. each have practice account. i try to have them think it's like a real trading account and use other methods to try to simulate that.

- How much do I need to invest (minimum) when doing the course

none.

- Is it better to start with this course or invest with the group you're putting together with a Jan. 21 deadline (I know 'nada' about Forex trading at the moment, just relying on the screenshots you provide!)

that's up to you, do you want to rely on me with the fund for however long it stays open to current members, or do u want to have a profession under ur belt that will set u up for life?

don't worry about not having any experience, 99% of the other students hadn't. the videos are very well explained, so u should not have a problem, by the time u have finished the 8 month course, you should be on your way to earning approx 500-1000 or so a week. as experience increases, you'll make more in less time.

- How does the current economic situation affect Forex trading

it doesn't affect it negatively,this is not like stocks where everything crashes.. if anything, it helps in a big way.

- I assume investing/learning can be done from anywhere in the world (I'm in Canada)

Thanks, Loz,
Raych

Yes Ma'am, in your bedroom, bathroom, on a train, in a cafe, in a taxi, where ever you have internet connection.

[raych]

Thanks!

John: Your feedback is inspiring and much appreciated. It's good to hear from someone who is doing the course. GL with your venture.

Loz: Many, many thanks for your detailed reply. I now have a much better perspective. I did not realize that there is no $$ investment involved during the course itself, but now I see it...and it just makes sense that students will wait till after they finish the course to start investing. Now, once investing starts, what is the minimum investment required that makes sense. I was going through some forums and read that one needs at least $10K to invest for any worthwhile results. Do you agree? I just need to get a better handle on what I need to have going forward.

Also, regrading the study time, I actually was wanting to know what time your Yahoo chats with the other students take place, you know where everyone gathers around and shares their experiences as a group. Those types of sessions. Is there any specific time, day, that you would schedule those? Just want to know if they jive with my sched.

Thanks again, and I hope you're enjoying your NY trip. All the best for 2009.

[jglefler]

Thanks!

...I was going through some forums and read that one needs at least $10K to invest for any worthwhile results. Do you agree? I just need to get a better handle on what I need to have going forward.

Also, regrading the study time, I actually was wanting to know what time your Yahoo chats with the other students take place, you know where everyone gathers around and shares their experiences as a group. Those types of sessions. Is there any specific time, day, that you would schedule those? Just want to know if they jive with my sched.

Hi Raych,

From what I have seen, a 10K acct would be a great base to trade with. You could probably trade at a low volume (i.e. $1.00 per pip) with a 1K acct but things would probably progress rather slowly. A 5K or 10K acct would be better, if possible. You can make it work, however, even with a 1K acct. You actually have greater risk the smaller your acct is, as it is easier to blow through your margin.


We have laid off the group calls, to a large extent, due to the holidays, etc. When we do get together it is usually between 8:30 and 9:00 a.m. Eastern Standard time. The US market opens at 9:30 a.m. and it is good to be at your trading station 30 to 60 min before it opens to get a "read" on where the market might go on any given day. Loz will sometimes poke his head in and there will only be a couple of questions, so he may head off shortly. Other days he will be with us for 6 hours, or more.

If you can possibly swing this, I couldn't recommend ANYTHING more than FOREX with Loz at the helm. He knows his stuff and, while it aint like shooting fish in a barrel, this truly is an opportunity for the average Joe to knock down some serious dough from home.

Here's my routine... Stay in pajamas - fire up laptop - get a coffee - turn on business channel - log into FOREX platform - ping the group on Skype - pinch myself to see if this is real - smile as I learn to earn...

Cheers,

John

[raych]

Great post, Joe! Exactly what I needed to know. I want to make sure I have all my ducks lined up before I make the commitment. No point in jumping in to find I can only go part of the way. I think I can do this, except in January, I still have to be out the door first thing in the morning (Eastern time). After that, the job will be history , and I will have more time -- all the time in the world, in fact!

I have seen some of Loz' work, and am quite impressed with his thoroughness and commitment, so no issues there for me. I just had to make sure I have access to whatever I need at my end.

Good to hear your positive feedback. You will probably "see" me on the other side.

Thank you, once again.

Best regards.

[jglefler]

Great post, Joe! Exactly what I needed to know. ... You will probably "see" me on the other side.

Thank you, once again.

Best regards.

That's great. Looking forward to having you in the group. BTW, who's Joe?

John

[raych]

LOL...sorry...John. I even checked your name before I typed it in, still got it wrong. I need a holiday somewhere where it's sunny and warm.

[jglefler]

LOL...sorry...John. I even checked your name before I typed it in, still got it wrong. I need a holiday somewhere where it's sunny and warm.

No prob. I was Joshin' ya

Hope to see you INSIDE...

[Loz]

I was going through some forums and read that one needs at least $10K to invest for any worthwhile results. Do you agree? I just need to get a better handle on what I need to have going forward.

nah, no really, cos i've been telling my students, no matter who you train with, you'll lose the funds straight away.

So, to get a feel of trading with live funds, start off with approx 300-1000$ and open a micro account which allows you to trade micro lots, ie, 1 tenth of a 0.1 lot (10 cents per pip - as apposed to 1$ per pip)... if after say 6 months ur doing well, then consider with 5-10k via a normal live account at 500:1 leverage.

Also, regrading the study time, I actually was wanting to know what time your Yahoo chats with the other students take place, you know where everyone gathers around and shares their experiences as a group. Those types of sessions. Is there any specific time, day, that you would schedule those? Just want to know if they jive with my sched.

Thanks again, and I hope you're enjoying your NY trip. All the best for 2009.

They take place more or less each day for approx 3-10 hrs - depending what time i wake up - normally i'm awake around 3am EST to allow European guys to get in and have a chat, ask questions, and re-go over some tech analysis / predictions of what may happen next, when to close trades etc, and or correct them so not to close trades too early...

Thanks, yup, trip going well, having bundles of fun

[jewelrygal]

I am one of Loz's forex students. The first week I made $1000 profit in 3 days without a single loss. Before this course, I knew nothing about forex...had dabbled a bit and failed in day trading stocks.

Of 12 trades that I made for my task account so far, only one was a losing trade. And that was because I didn't set my stop loss correctly; I had to leave for my husband's doctor's appointment and this was the first time I set up a stop loss and left the computer unmonitored. When I returned I found that if only I'd set it about $50 higher, the momentary spike would not have closed me out...in fact, the trend turned right back after that spike and continued in the direction I originally thought it was going...and I would have made close to $1000 on that one trade. So, I've been practicing when to get in and out of trades and have not lost a single penny since.

Loz does as much "hand-holding" as you need. I feel I have made tremendous progress so far, starting from complete novice. Loz is the best teacher you'll ever find for forex. Don't waste your time or money going elsewhere.

My recommendation to anyone asking is: be smart and join this forex course while you can and also, get in the forex fund before it closes in mid January. You have this easy chance to turn your financial future around, and be unaffected by the lousy economy, crashing stock market, inflation, etc. Some people believe in "being lucky" but I think that part of luck involves grabbing an opportunity when it presents itself to you. So, let the forex fund make "survival" money for you while you get trained in how to make lots of money on your own. A year from now your life will be very different.

PS: My husband has been quite ill these last months but despite having him home full-time, I have still managed to keep up with the class. My schedule is similar to John's, I look forward to my mornings - sitting on the living room couch with my laptop doing forex, drinking my home-brewed Starbucks, chatting with Loz and fellow students, and tending to my hubby as needed. What's not to like about this work schedule?