Frequently Asked Questions

We are asked many questions in regard to what the Forex Trader Group is and what we have to offer. Here is a selection of the most commonly asked questions. If your question does not appear here ask us directly by signing up to attend the online introductory seminar. Alternatively you can ask us by emailing us directly at forextradergroup@forextradergroup.com.

Q. Is the FXTG Target Trader an introduction to Forex, trading tools or a trading system?
A. FXTG Target Trader is a combination of all of these things as well as technical support, online content and weekly newsletters. The Forex Trader Group believes that all of these components help support our customers to learn to trade successfully in the shortest time possible.

Q. I have purchased trading systems in the past to find out that they were available else where on the internet for free, what kind of software am I receiving with the package and is it unique?
A. The FXTG Target Trader system has been developed by the Forex Trader Group as a complete package to create successful and profitable traders. You won’t find this information anywhere else. Likewise all software that is part of the FXTG Target Trader has been developed by our software team for the specific purpose of supporting the FXTG Target Trader package and to assist our customers when trading.

Q. I am looking for a quick way to make money right away and don’t want to have to learn about the Forex market, is the FXTG Target Trader right for me?
A. Unfortunately no. Trading Forex is not a get “rich quick scheme” as some products and websites would have you believe. Something as potentially rewarding as trading Forex for a living takes time to learn. Just like a doctor needs training and the right tools, so does a trader.
All profitable traders at some point in their trading lives have spent the time learning how the markets work, what moves the markets and learning a trading system. The trader must take the time to become familiarised with the system. Without understanding how to consistently trade profitably with any trading system and short term profits will eventually be replaced by longer term loses.

Q. I am completely new to trading can I learn to trade profitably with the FXTG Target Trader?
A. The FXTG Target Trader has been designed to allow anyone that takes the time to learn how the markets work, how to use the trading software and how to trade the system the ability to be consistently profitable trading the Forex market. Past customers have come from all walks of life; everyone from housewives and builders to scientists and ex-traders. Some of the most successful traders have come from people with no market experience. All that is required is the drive and determination to learn to be successful at trading.

Q. How long does it take for someone to gain the necessary market knowledge and learn to use the FXTG Target Trader to trade profitably?
A. It is important for the trader to take the time to become familiarised with the system. This process includes becoming familiar with what the Forex market is and how it is traded, learning to use the trading software and learning to trade the system. Everyone learns differently and the process can take weeks or even months for some people. The FXTG Target Trader Package contains everything required to help people from all learning types; including learning modules, practical examples, video tutorials and online content.
What is important is to consider the substantial income that is possible when trading Forex, and to take the time to learn how to consistently make profit when trading. This initial time investment spent understanding and learning the system is more than repaid by the reward of profitable trading.

Q. What is a trading system? How important is it really for the trader to have a trading system?
A. Trading involves looking for patterns in the market that tend to repeat themselves and trying to capture these patterns to result in profitable trading. The use of trading systems and software can help identify these patterns in the market. Trading systems can be programmed to search for all the key market signals which help to determine which way the market is going to move. In this way, a program can search for hundreds of patterns within a chart in real time and not miss a pattern due to human error. The use of a trading system can assist the trader to be more impartial. A trading system has no emotion and thus the results that a trading system presents are purely mathematical leaving the emotional and logical side of things up to the trader.

Q. I have heard a large percentage of people fail at trading profitably, can people really make a living out of Forex trading?
A. Yes! Many people make a great living trading the Forex market. It is unfortunately true that there is a large amount of people that fail when they start trading. To understand why this happens you must look at the reasons why people fail at trading.

A typical learning curve of beginning Forex traders is:
1. Randomly picking trades leading to a few wins and losses
2. Subscribing to newsletters on trading with trading tips
3. Moving on to technical indicators such as moving averages, MACDs and trendlines
4. Playing with combinations of all these and still not finding anything that will work
5. Moving on to study Gann Theory, Elliot Waves and Fibonacci to find them too difficult

Trying to learn to trade any market using this approach will usually cause a trader to empty their trading account. Traders must become consistently profitable trading a demo account (paper trading) before considering risking any trading capital in the market. Traders also typically don’t understand the importance of good money management principles and tend to start out without enough trading capital and risk too much of their trading account per trade. This is a recipe for disaster with any short term profits being outweighed by long term losses.

If traders take the time to fully understand the market and take a sensible, proven approach to trading the market then they too can earn a good income (and possibly a living) from trading the Forex Market. Following the same steps that successful traders have used to learn the market and become profitable will give you the best chance possible to trade profitably.

Q. Why does your system work when so many others fail?
A. The first part of our system is ensuring that traders are well equipped to handle the Forex market with both the tools required to trade and the necessary market knowledge. The currency market is a dynamic beast and in this modern day of instant communication, you need a strategy that is receptive to rapidly changing conditions. You need an agile approach with fluid movements taking into account many different aspects. The FXTG Target Trader teaches you how to adjust your trading strategy for different times and market conditions. It's not a static strategy because that simply wouldn't work.

Q. What currency pairs does your trading strategy work for?
A. While the FXTG Target Trader works on all currency pairs, part of trading the Forex Trader Group way is identifying which currency pairs are currently moving and which are likely to continue to move. Trading the currency pairs that are currently trending and have larger market moves makes it easier for the Trader to make realistic and consistent profit targets.

Q. Over what time frame is the trading system designed? Is it designed for intraday or for long term trading?
A. The trading system has been primarily designed for intraday trading (opening and closing trades the same day) entering and exiting trades on a 15 minute chart. That said many customers have found success trading the system on shorter term time frames as well as using the system over longer periods. Part of the training is determining which time frame the trader should use to trade over, this is based upon the personality type of the trader.

Q. If what you teach is successful why do you share it, why not just trade it yourself?
A. The reason we know the system is consistently profitable is that we DO trade the system ourselves. What you must realise is that everyone must start somewhere and we all started at some stage with no market knowledge. The FXTG Target Trader has been created following the process that has allowed us to become consistently profitable. The Forex Trader Group decided to offer the FXTG Target Trader to customers to provide them the opportunity to follow the same process to become consistently profitable in the Forex market. Teaching trading (and trading every day) provides us the lifestyle we want, we find that by teaching others the process we become much more in tune with the market and this benefits our trading.

Q. I have some experience trading and am looking for additional tools to give my trading “an edge”. Is the FXTG Target Trader just for new traders?
A. The FXTG Target Trader is suitable for traders of all levels of experience, from beginners to already profitable traders looking for additional trading tools and techniques. The FXTG Target Trader provides an introduction to trading and the Forex market for people new to trading Forex. Experienced traders way only quickly review these lessons and skip straight to the trading indicators, market analysis techniques and the trading system.
The FXTG Target Trader is not only a training program, it comes complete with unique trading software and tools, designed to assist the trader to analyse the market faster and determine the right trading decisions for current market conditions. Profitable traders can use the trading tools to further enhance their existing trading system and style.

Q. Do you provide customer support?
A. We provide individual customer support to make the process of getting up and running with the system and software as smooth as possible. We offer the customer an initial hour of one on one customer support with the product, after this time additional customer support can be purchased by the customer at very competitive rates.

The individual customer support can be used over any period of time and can come in the form of emails, chat conversations and remote login support. Most of the training is delivered via the manual and online content, the technical support is primarily to get the customer familiar with the software and to get the software up and running on their computer.

Q. Will the software stop working after a period of time?
A. No the software never expires and the customer is entitled to indicator and tool updates for the life of the product. The Forex Trader Group is continually releasing new trading tools and new features to the website in an effort to assist and support customers. A 6 month subscription is available to customers for the online content, new trading tools and indicator system refinement. The first 6 months of the subscription are included with the FXTG Target Trader Package.

Q. What kind of computer do I need to run the software? Is there a certain type of Internet connection that I need?
A. Trading should be regarded as a business and as such it is essential to have the right tools for the job. An up to date computer should be used for trading and if possible it should be a dedicated trading computer. As a guide a computer with:

    A minimum Pentium 4 processor with a minimum speed of 3 GHz (or equivalent)
    A minimum of 1 GB ram (preferably 2 GB)

It is important when trading to use the most reliable Internet connection that is available, there is nothing worse than opening a trade and losing the connection to the Internet and are unable to manage the trade. It is highly recommended that the Trader use a wired Broadband Internet connection such as DSL or Cable Internet. Wireless Broadband Internet Cards can have temporary disconnections and some times not work at all in some locations due to low signal strength. Some Forex Trader Group Customers have had trouble with not being able to connect to Forex Broker servers at all using Wireless Broadband Internet Cards. It is for this reasons that the Forex Trader Group recommends using the most reliable method of connecting to the Internet as possible when trading.