Welcome Forex Traders to Forex Trading!!!
Entries will be on this page by 8 PM EST when there are No Sports Picks. When there are Picks they will go out in the members picks email. So to have the Forex info on a day with sports Picks you need to buy at least one Pick that day or be a subscription member.
Sunday >> Thursday
We Handicap 33 different Currency Pairs made up with 8 Different Currencies.
AUD--Australian Dollar (Aussie), CAD--Canadian Dollar (loonie), CHF--Swiss Franc (Swissy), EUR--Euro (Fiber)
GBP--British Pound (Cable), JPY--Japanese Yen (Yen), NZD--New Zealand Dollar (Kiwi),
SGD--Singapore Dollar (Sing), and the USD--US Dollar (Greenback or Buck)
Chart Terms--Pair (Currency Pair), B (Buy), S (Sell), BRM (Bank Roll Multiplier), Pips (Units of Currency) Read More Below
So, If you are new to trading, this should get you started.
1. Start a Trading account; --- I recommend Forex.com. It's the easiest to start with. There are many brokers out there. I would stay with brokers within the US if you live in the US. If you go offshore you have NO protection if you have problems. The Brokers in the US are protected by US rules and Laws. Forex.com is the easiest to start with and easy to use. If you are more skilled and a Metatrader4 fan, then there are many brokers you can use. For you TD Ameritrade Fans, I can tell you they have a good platform, but you need to get up to speed with their platform before you use it, and you will have to prove to them that you have forex skills before they will let you trade.
2. Bank Roll;--Basically, Forex brokers have kind of No limits on how much money you can have in your account, so your Bank Roll is up to you. In order to trade with the Grogmonster strategy you will need at least 500 dollars to trade, but at Forex.com you can open an account for as little as 100 dollars.
Please Start with 500 in your account untill you get use to the platform and the money movements. It takes time to build Tolerance.
3 Trading;--The Forex market is open 24 Hours a day from 5 PM Sunday EST to 5 PM Friday EST. Our Trade entries are to be entered right before the Asia markets open. From 6:30 PM EST to 8:00 PM EST. The spreads are to large from 5 PM to 6:30PM EST for good entries. All our entries are based on a 3 to 1 set up. Your plays should be adjusted every day at entry time if they are still live.
a) First, on Forex.com you need to make a Watch List with all the Pairs we use. There is a List below of the Pairs.
b) Then go to the Pair and click on the Buy or Sell Tab. When the trading window open's, take the BRM and multiply it by what is in your bankroll and enter the result into the Quantity or Lot Size Box. These numbers will change every day, so make sure you check them to get them right.
c) You can select (Good til Cancel GTC)
d) Then put the Pips in Pip Box for the Stop. This will cancel the trade if its going too far in the wrong direction and limit the lose.
e) Then put the Pips in the Limit Box for the limit.
f) Once the info is entered and correct, Then place the trade, and Good luck.
List of Currency Pairs;--AUD/CAD--AUD/CHF--AUD/JPY--AUD/NZD--AUD/USD--CAD/CHF--CAD/JPY--CHF/JPY--EUR/AUD--EUR/CAD--EUR/CHF--EUR/GBP--EUR/JPY--EUR/NZD--EUR/USD--GBP/AUD--GBP/CAD--GBP/CHF--GBP/JPY--GBP/NZD--GBP/USD--NZD/CAD--NZD/CHF--NZD/JPY--NZD/USD--USD/CAD--USD/CHF--USD/JPY--AUD/SGD--EUR/SGD--GBP/SGD--SGD/JPY--USD/SGD
Any Question, Please email me at Grogmonstersports@gmail.com I will do my best to help.