Benefits:
Room One - Pairs traded GBP/USD and JPY/USD
Timeframe used - 15min, 60min and 240 min
Session Hours
2am until 4am
4.30am until 6am
7.30am 10am
Hours flexible with open trades
Room format - Video , text and audio
Login via the Training Academy or link provided
Terminology
In the rooms our traders use a number of common terms to denote either an action to be taken or an indicator on the chart. Trade information will posted on our information boards and relevant instructions issued via text chat and voice. Indicators
Indicators
| TS | Trendsignal line |
| VA | Vector average line |
| PE | Price envelope |
| MS | Major support |
| MR | Major resistance |
Currency Board
Market : Displays the currency pair
Trade : Displays the current trade status
Flat – No trades active or pending
PL – Potential Long trade on next bar
PS - Potential Short trade on next bar
Long – Active Long trade
Short – Active Short trade
Stop – Current stop placement
Voice and Text instructions
Long Positions:
PL: When a currency trade board shows this it means that a potential trade is developing on the next bar open, this is an early warning to prepare for a trade but NOT AN ENTRY. Conditions may change during the bar negating an entry.
Long: (Audio instruction - Entering Long, Taking a Long, Long Here). When a currency trade board shows this it means that an entry has been triggered.
T1 Hit : 1st profit taking target has been hit , take profits according to the scaling instructions or posted % close. Profit taking is carried out in a scaled manner , part of the trade is closed as we achieve target and this is expressed in % terms. For example if you have a 10 lot trade and 30% is closed you would close 3 lots.
T2 Hit: 2st profit taking target has been hit , take profits according to the scaling instructions or posted % close. Profit taking is carried out in a scaled manner , part of the trade is closed as we achieve target and this is expressed in % terms. For example if you have a 10 lot trade and 30% is closed you would close 3 lots
Scalp Trade : Refers to a trade counter the bigger timeframes , as detailed in the trading guide.
Move Stop : We operate a trailing stop , when the move stop instruction is given , adjust your stop to the number provided.
Closed - (Audio instruction -Trade is closed , close here ) The trade is closed and we exit completely from the position.
Short Positions:
PS: When a currency trade board shows this it means that a potential trade is developing on the next bar open, this is an early warning to prepare for a trade but NOT AN ENTRY. Conditions may change during the bar negating an entry.
Short: (Audio instruction - Entering Short, Taking a Short, Short here). When a currency trade board shows this it means that an entry has been triggered.
T1 Hit : 1st profit taking target has been hit , take profits according to the scaling instructions or posted % close. Profit taking is carried out in a scaled manner , part of the trade is closed as we achieve target and this is expressed in % terms. For example if you have a 10 lot trade and 30% is closed you would close 3 lots
T2 Hit: 2st profit taking target has been hit , take profits according to the scaling instructions or posted % close. Profit taking is carried out in a scaled manner , part of the trade is closed as we achieve target and this is expressed in % terms. For example if you have a 10 lot trade and 30% is closed you would close 3 lots.
Scalp Trade : Refers to a trade counter the bigger timeframes , as detailed in the trading guide.
Move Stop : We operate a trailing stop , when the move stop instruction is given , adjust your stop to the number provided.
Closed - (Audio instruction -Trade is closed , close here ) The trade is closed and we exit completely from the position
Trading Information
Open Positions
When you log into the Trading Room, you will see Open Positions on the currency boards of each chart. Open positions are valid at the point they are issued, after this conditions may alter , we only take trades at the point they are issued , if you miss the start wait for the next trade.
Sound On/Sound Off
To hear the audio commentary, please click on "Voice Options" and then select "Add Voice". Otherwise you will not be able to hear the live calls being made.
Number of Contracts/Lots to Trade
There is no minimum or maximum trade size, it is entirely dependant upon the amount of capital available taking into account a maximum 3% risk per trade . We look to scale out trades via profit targets but this can be done with as little as 1 lot.
Entering and Exiting a Position.
All trades are entered at the open of a new bar , we only use Market Orders to enter positions. We work on criteria that is not confirmed until the bar open so it is impossible to use fixed limit orders as the price can trade through without triggering an entry. Exits are scaled and also managed by market orders but as we preset targets at entry, limit orders can be used. Standard stop placement is 30 pips , plus the spread . Occasionally this needs to be larger or smaller according to market conditions. If the stop needs to be bigger than 30 pips we use a reduced trade size.
Preparation
We recommend traders come ready to trade 10 mins before the session starts . By doing so the trader can ensure :
Trading Room Etiquette
Please follow these simple rules to ensure you make the most of the Room:
Day trading is not for everyone.. Day trading is not a get rich quick scheme. It takes a lot of hard work, Dedication, Control and Discipline.
Dedication – commit to learning the system , trading success does not happen overnight.
Control your trades; never let your trades control you or your capital. Enter every trade with a plan and do not deviate.
Discipline is a key factor to the success of a day trader. Stick to your rules and execute them consistently trade after trade. Accept your losses as part of trading .
There are no guarantees in life, and certainly not in trading . Trading is about risk, manage yours and take personal responsibility for every trade you make win or lose. They are your trades, you pull the trigger
Trendsignal is a trading support system that is comprised of proprietary indicators. Using these indicators each trader determines his or her own entries, exits and stop placements which may vary from those of other traders due to differences among traders in trading style, objectives, risk propensity, account size and number of contracts involved, thereby producing different trading results from one trader to another. Forex and options trading involves risk, is not for every trader, and only risk capital should be used. For more information, please read our Important Disclaimer and software license agreement.