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Power Trading FX

  #6 (permalink)

Boston, MA, USA
Posts: 7 since Apr 2011
Thanks: 0 given, 0 received

Hi Arthur,

No problem, I'm always reading through these forums for extra guidance :-) And no worries about the questions, I had the same concerns.

Those are true-- I've done similar research on MB Trading before joining and I wasn't able to find any tighter spreads or lower commissions anywhere else. With scalping-- I've been talking to a lot of traders in Forex about their techniques, and so far no one's recommended focusing on scalping in the forex market claiming that it's not very consistent or profitable. So, both of those things aren't really concerns of mine with power trading :-)

I want to eventually be able to do a mix of day and swing trading. I want to focus on swing trades primarily, then pick up day trading during the day when I'm able to as more of a bonus.

I dabbled a bit with Forex Trading USA with their Forex training, and I never was convinced to invest any money with them, but I did see a few "trainings" and spoke with them, and it was never clear for me in any aspect, and they definitely did not convince me in the least.

I did pay the initial fee, and the $200 monthly, but I do plan on, not completely replacing my current income, but greatly supplementing it. So essentially I'm looking to take on a second job, that's not really going to take up too much of my time.

I have been simulating trades with the software. And like I said before I have been making progress, granted I've only been in training with power trading for less than a month. However, with the rate I've been moving at I feel like I'm going to be more consistent within the next couple months or so as I am a complete novice!

Realistically, with my job that I have now, and I am expecting :-), I plan to be trading live with them in about 4-5 months, however they have told me I could be trading sooner if I could invest more time in the program, but currently, I invest about 5 hours a week, sometimes less.

I have found this with the program-- although I'm not able to always attend the live classes, or get my questions answered immediately, they have a nice recorded section on their website that they feed all of the live classes into after they've been presented, so I'm able to fit the classes around my schedule fortunately, and I have been also able to speak with the traders one on one when I've needed questions answered, which I always have plenty of. So I do like that I can fit this program around me, and not the other way around.

I looked at the CY Group, and I'm seeing that they do stocks? So I suppose you would have to decide which market you're more interested in. Scalping and floor traders are particular to stock trading...Forex doesn't use floor traders, and I've already put my opinion about scalping with Forex.. so I think you're main debate we'll be deciding on which market seems to fit you best :-) However, through my research I've found that stocks is more of a market that you will have to make a job and "devote your life" to, so that's why I chose Forex.

Hope this all helps!

Good Luck!

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