Frequently Asked Questions
Use CTRL F to search for a word that you might have a question about
How much profit can I make with your system in a week?
That is a ‘piece of string’ question for which the following information is required: -
How big is your account balance
How often will you trade
What instrument / timeframes will you trade
Percentage risk on each trade
Typical risk:reward
How good is your patience and discipline
etc.
I look for about 5% profit for the week – that’s all I really need – trading two instruments with up to 1% risk (sometimes less, depending on how I feel about the setup). . Trading very liquid instruments, with low spread and high daily range, provides plenty of big-trade opportunities where, with 1% risk, you can be looking for an easy 10% gain on just one trade. You just need to have a strong target price in mind and look for the lowest pip-risk entries.
As for the word ‘system’ (or ‘method’) … I don’t really like that. I can’t claim to have a ‘system’, I’m more inclined to say I just trade the price action. You wouldn’t ask someone what their system is for driving; people just drive, adjusting their speed and direction according to the roads, traffic conditions and where they need to get to; so it is for trading. I’ve documented well over twenty different setups and could add plenty more. Naming the setups is useful for discussion with trading friends or for logging trades in your trade journal but they’re not really required.
How big is your account balance
How often will you trade
What instrument / timeframes will you trade
Percentage risk on each trade
Typical risk:reward
How good is your patience and discipline
etc.
I look for about 5% profit for the week – that’s all I really need – trading two instruments with up to 1% risk (sometimes less, depending on how I feel about the setup). . Trading very liquid instruments, with low spread and high daily range, provides plenty of big-trade opportunities where, with 1% risk, you can be looking for an easy 10% gain on just one trade. You just need to have a strong target price in mind and look for the lowest pip-risk entries.
As for the word ‘system’ (or ‘method’) … I don’t really like that. I can’t claim to have a ‘system’, I’m more inclined to say I just trade the price action. You wouldn’t ask someone what their system is for driving; people just drive, adjusting their speed and direction according to the roads, traffic conditions and where they need to get to; so it is for trading. I’ve documented well over twenty different setups and could add plenty more. Naming the setups is useful for discussion with trading friends or for logging trades in your trade journal but they’re not really required.
What is the minimum investment required / you'd advise anyone dreaming of making at least £1k per month using your system
If you keep your percentage monthly gain targets to a realistically achievable level, in percentage terms, you can work back from there. If you think making 10% a month is realistic (and I think it is, for experienced traders, although you can do that in a day sometimes, risking just 1%), then you’d need £10,000 in your trading account, to make £1,000 a month.
How much time do you spend trading?
See the 'Who is Snorm' page
How many consecutive losses do you typically get?
I try to avoid having more than two losses in a row, in a session – if that happens, I take a break. See the “How to Deal with Trading Losses” blog post.
How long will it take for me to learn your system?
Please stop calling it a system :)
Every day at the charts is another day in the school of trading. Some people pick it up quickly; others never get it and spend their lives going from one scammer to another, looking for the golden goose. The basics of my approach to reading price action can be learned in a couple of weeks. However, nothing beats time in front of live charts, for which I suggest you allow as much time as you can spare.
Every day at the charts is another day in the school of trading. Some people pick it up quickly; others never get it and spend their lives going from one scammer to another, looking for the golden goose. The basics of my approach to reading price action can be learned in a couple of weeks. However, nothing beats time in front of live charts, for which I suggest you allow as much time as you can spare.
Can I have a discount or a special deal or just join your Skype Trading Group to see how you trade because blah blah?
No. Making special arrangements, or giving discounts, for individuals is not fair on others; plus it’s an admin headache that I’d rather not have. Most requests for discounts come from people I’ve never even exchanged an email with before. I already give a load of stuff away for free and what I do sell is incredibly good value for money, compared to the scammers. Please don’t offend me by suggesting it’s too expensive; or trying to get yet more stuff for nothing.
Can eWavesHarmonics be used on any instrument or timeframe?
Yes – there’s a link to a blog post about that on the eWavesHarmonics page. Please have a good read of that webpage.
What is the process of your setups?
I don’t understand that question but if you’re asking how I go about identifying the setup: it depends on the type of setup. I always do a higher timeframe analysis, at least twice a day, and work from there with strong price targets in mind.
Are your methods subjective or discretionary, or is it 100% rule based?
I trade according to what price is telling me. There are certain elements that are completely objective (such as for initial management of a Trendline Break trade or not increasing my SL when a trade starts to go against me); other elements are flexible to allow for market conditions.
Why do you only trade DAX?
I also trade DOW as well. Sometimes I will trade the big forex pairs, like EURUSD and GBPUSD, particularly when there is a good news event. The reasons for DAX and DOW being my main instruments is because of the spread / ADR ratio – see this blog post
Do you have a Myfxbook to verify your track record
No. See the 'Who is Snorm' page
Do you offer mentoring/coaching?
See this page: https://www.for-exe.com/trading-services.html
What do you do in your Skype Trading Group? Is it text chat only or do you do voice calls as well?
I do higher timeframe reviews of DAX and DOW, plus other instruments as well, from time to time. From there, we discuss trade setups, as they occur or are about to, and the management of open trades. We share our knowledge of trading and discuss different ideas. We also have a laugh and talk about random stuff. Trading can be a lonely game when you do it on your own, day in day out, with only your computer to talk to. The Skype group is there to make trading life more fun and profitable.
It is text only – we don’t do voice calls.
It is text only – we don’t do voice calls.
Do I have to complete your training course before joining the Skype group?
Yes – there are no exceptions, for obvious reasons.
When is your Skype group open?
All day but the main activity occurs between Frankfurt Open to around the London Close. There is often chat late into the UK evening and all the chat history is available for viewing at any time.
Are your indicators and course good for people with little or no trading experience?
I don’t have an 'introduction to trading' course module, so would expect that you have some very basic knowledge of trading, understanding what a price bar/candle is, as well as terms like long/short/spread/forex/etc. Apart from that, the course is a great place to start, if you are relatively new to trading (or have been trading for years). I would recommend all new traders do the course, if they’re interested in how eWavesHarmonics can be used for trading or just want to learn to read price action properly.
Do you offer a trade copying service or manage other accounts?
No, I might consider it in the future.
Should I use a demo account while learning how to trade?
Yes – highly recommended. Only start trading a live account when you have got your discipline to a point where you can comfortably risk your hard-earned money.
Do you have or recommend any indicators that can be used for the fully automated feature of ATM?
No – not yet, at least, but I hope to in the future, based on eWH (I have a couple of things in development)
Do you know of any EAs that make more than 10% profit in a month
Sadly, No.
Please can you make a change to one of the indicators that you give away for free?
Most unlikely unless it’s a brilliant idea that everyone will benefit from
Can I have the source code to one of your indicators / EAs / scripts?
No
Do I have to buy ATM to get access to your training course, even though I won’t use it?
Yes. Current licences for eWH and ATM are used to grant and maintain access to the course. The alternative would be for me to charge for the course, as many have suggested I should be doing - and, I might do in the future, if that simplifies things for people.
Do your indicators for MT4 work with Renko Charts?
Yes, most do. eWH is very good with them.
I can’t use PayPal (for whatever reason) how else can I pay?
I have Skrill and Neteller accounts – please email for details. Alternatively, you could try making a payment as a ‘guest’ on PayPal, using a credit / debit card – you don’t need a PayPal account to use the service. I am aware that my main PayPal is a problem in some countries, like South Africa for example, I also have a second PayPal account that seems to work in those instances – again, please email for details. (I have asked PayPal to investigate these problems but they’ve been useless).
I have a job so can’t trade during the day. Do you have something that I can use for part time trading?
eWavesHarmonics works on all timeframes. I would suggest trading the D1 charts, for which you need only spend 15 to 30 minutes each day, around the New York close.
Do you have any buy/sell indicators/signals (so I can trade blindly without thinking about it)?
No – at least not at the moment; perhaps in the future … but eWavesHarmonics helps to identify great setups
However, and this is really important, if you really want to succeed as a trader, you need to understand how and why price moves the way it does; why it changes direction at some point; how you can identify key price targets. Trading signals may be good for identifying entries but that's only a small part of the trading job. If you only rely on trading signals you will not succeed. eWavesHarmonics offers so much more than buy/sell signals.
However, and this is really important, if you really want to succeed as a trader, you need to understand how and why price moves the way it does; why it changes direction at some point; how you can identify key price targets. Trading signals may be good for identifying entries but that's only a small part of the trading job. If you only rely on trading signals you will not succeed. eWavesHarmonics offers so much more than buy/sell signals.
How can my business advertise on your site?
It can’t. I don’t want to clutter my site with adverts for businesses that I know nothing about.
Can I use eWavesHarmonics (or any other tool) free for a week/month/whatever?
No. The pricing of the licenced programs has been kept low so you can try something for a year for minimal cost.
Do you do lifetime licences for eWH or ATM?
No. The annual licence idea supports regular communication, if only at licence renewal time, and that customers can benefit from the many upgrades that are made during the year.
Can you recommend any brokers?
I use AxiTrader and ICM and am quite happy with them. I know many who use Admiral Markets and Pepperstone – they seem happy with those. Apart from that, I can’t really recommend any but I would just urge that you chose one that is regulated by a regulatory body such as the FCA (in the UK), NFA or CFTC (USA), ASIC (Australia), FSA (Japan) – not one that’s regulated by a gambling commission, or such like.
Some people say the big institutions only make about 10 to 20% profit a year, how can you possibly make 10% in a day/week/month?
Stop listening to other people and be the master of your own destiny. It all depends on the points in the very first question on this page but if you're trading the lower timeframes there are plenty of setups that can give you at least 3% in less than an hour; sometimes as much as 10% or much more (though they might take longer than an hour to complete). Returns are limitless, if you have the discipline and patience to wait for the AAA+ setups and can limit your daily losses, We retail traders are not constrained by the same rules and governance as the big banks and only have our own money to risk.
I've tried lots of systems and have spent a fortune on indicators and EAs, how can I be sure that what you provide is any good?
That all depends on you, I'm not going to make any guarantees - you might never succeed at trading because you just don't have the right attitude about it. This blog post briefly covers the reasons why people fail at trading: banish the demons.
When you have banished the demons, learned to read price action and understand the importance of some price levels (as covered in the course and assisted by eWH) trading success is very much in your hands.
When you have banished the demons, learned to read price action and understand the importance of some price levels (as covered in the course and assisted by eWH) trading success is very much in your hands.
Do you have versions of your indicators/scripts/EAs for TradingView or any other platforms, apart from MetaTrader?
No - at least not at the moment; perhaps in the future..