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 Frequently Asked Questions & Forex Trading Tips
 
bullet General FAQs
 
bullet PremiumFX Forecast Report FAQs
 

 

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 General FAQs
 
bullet Why should I use your PremiumFX service instead of similar forecast services offered on other sites?
First of all, our service is different and unique.
We offer Pay Only For Performance forex forecast report. Our forecast model was designed with the principle not to identify buy/sell signals as many as possible, but to isolate the most dominant and reliable signals.
Secondly, our PremiumFX forecast report contains 3 components. All 3 components offer valuable insights that can be used to improve your trading decision:
(1) Intraday Resistance & Support levels:
  Our intraday resistance & support levels are derived from a proprietary statistical mathematic model that analyzes an aggregated consensus forecast from 300+ public Forex analysts.
(2) Short-term Day-Trade Buy/Sell Signals:
  Our Short-term Day-Trade “Set & Forget” Buy/Sell signal takes advantage of daily volatility. It is derived using multiple technical indicators that track short-term volatility.
(3) Multi-day Trend Following Buy/Sell Signals:
  Our Multi-day Trend Following Buy/Sell signal is derived using both fundamental & technical factors. Utilizing a combination of statistical regressions and other techniques, our model can identify emerging trends in various currency pairs.
(e.g. As we stated in our sample report on April-20-2006, we discovered an imminent break out trend in the EUR/USD pair. In the following days, our clients were able to capture hundreds of pips in profit.)
   
bullet What is your secret to successful forex trading?
At FXSelect.com, our motto to successful forex trading is “Selective Trading Is Always Superior Than Frequent Trading”.
 
bullet Which currency pairs do you cover?
3 currency pairs are currently being monitored & analyzed (i.e. EUR/USD, USD/JPY and USD/CAD). We will expand our coverage to other currency pairs in the future.
 
bullet What types of subscription do you offer for your PremiumFX service?
PremiumFX offers non-recurring Pay Only For Performance Forecast service. PremiumFX forecast credit can be purchased through Paypal in blocks of 1, 2, 4 or 6 credits. Remember, we do not deduct any credit from your account until our forecast report produces 5 pips or more in profit.
 
bullet Do you offer “Free Trial” for your PremiumFX Forecast Service?
Our Free Forex Forecast data is posted on the website free of charge. There is no free trial for our PremiumFX Pay Only For Performance forecast service.
 
bullet If I purchase 2 credits, will I be automatically billed for renew when my credits are used up?
No, you will NOT be automatically billed because all of our subscriptions are Non-Recurring. We encourage our clients to buy more credit ONLY if they find the service useful.
 
bullet Do I need to cancel my subscription if I don’t want to use your service anymore?
No, you do not need to notify us. Your subscription will automatically stop once the credit balance in your account reaches 0.
 
bullet Do you offer Buy/Sell signals in your PremiumFX Forecast report?
Yes, we offer specific buy/sell signals in the PremiumFX Forecast report for both short-term day trades and long-term multi-day trend following trades.
 
bullet Do you issue trade alert?
Yes, we do issue trade alert during the day only when we see new opportunities. However, our main focus is on the forecast reports that we issue twice a day.
 
bullet Should I trade using standard 100K account or 10k mini account?
It really depends on your trading experience and your risk tolerance level. For example, a 10 pip profit in EUR/USD could mean $100USD profit in a 100k account or just $10USD profit in a 10k mini account. We recommend novice trader starts with a 10k mini account.
 
 PremiumFX Forecast Report FAQs - Key Term Definitions
 

Resist3

Major Resistance Level

Resist2

Intermediate Resistance Level

Resist1

Minor Resistance Level

Pivot

Current Pivoting point

Support1

Minor Support Level

Support2

Intermediate Support Level

Support3

Major Support Level

  

Trade Strategy

Trading Action (e.g. Buy Euro or Sell Euro or Sell USD, etc.)

Enter@
 
or
Open@

Enter or Open a trade position at $x.xxxx (Buy/Sell Trigger Signal); depending on trade action under “Trade Strategy

Exit@

Exit trigger point of a Limit Order (i.e. An Open Position will be automatically closed when the currency pair reaches a pre-set profit level.)

StopLoss@

- Stop Loss trigger point of a Limit Order (i.e. An Open Position will be automatically closed when the currency pair reaches a pre-set loss level.)

Trail-Stop

Number of Trailing-Stop pips (i.e. Once an order becomes an open position, the pre-set “StopLoss@” Point will be automatically updated to lock-in profit as the position moves in the trader’s favor. The Trail-Stop feature causes the “StopLoss@” order to move a specified number of pips when the real-time price moves the same number of pips in a profitable direction.

Risk Pips

The difference between “Enter@” and “StopLoss@” (i.e. the max number of pips can be lost in a particular trade.)

Profit Pips

The difference between “Enter@” and “Exit@”  (i.e. the max number of pips can be gained as profit in a particular trade.)

Trade Style

A sentiment indicator of our trade

Confidence Level

Another sentiment indicator of our trade (e.g. if our “Trade Style”  is Aggressive and our “Confidence Level” is High, we may trade using multiple lots.)

Valid Time Frame

Valid time frame for a particular trade (e.g. A trade may be valid for the next 5~7 hours, or Intraday which is from market open to market close, etc.)

Click here to see a Sample of the PremiumFX Forecast Report

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