How did you first get into the Forex trading world?
I sold my offline business when I hit the big 40, semi retired & moved with my wife & young family to live in the sunny Canary Islands. I then discovered that you need more money when you have so much free time & and a beautiful climate. I needed to find a way to earn a substantial income & didn't want the hassle of running a conventional business, so I turned to the internet.
How long have you been trading Forex?
It took me 3 years to learn how to trade successfully. After 5 years I started to teach & mentor others. I am now starting my 9th year of Forex trading.
What platform do you use for your own trading?
I use MetaTrader4. I have used other platforms but the charts are nice and clear and it's easy to teach others how to use it.
Do you trade based on technical analysis or fundamental analysis? Or news?
I am a technical trader. I have always paid attention to scheduled news and avoided opening trades when it's due but that was the limit of my fundamental analysis. However with all the Euro chaos in the last 18 months I have been paying a lot more attention to what's going on in the financial world. I do not trade the news per se and never trade on NFP Fridays.
What currency pairs do you focus on?
I concentrate on the GBP/USD, EUR/USD & EUR/GBP. I am English but live in the Eurozone. I recommend to my students that they concentrate on their own currency if possible. They read the newspapers and hear the "?word on the street" & therefore are already more knowledgeable than many experts.
What type of trading strategy do you use?
Everything I do is based around the core fundamentals of support & resistance, both fixed & moving (emas). I always aim to trade with the trend but have successful options if markets range. I never try pick tops and bottoms.
What was the catalyst that transformed you from a struggling trader to a consistently profitable one?
I struggled for 3 years. I have never been interested in gambling and yet after a couple of years I was showing many of the traits of someone with an addiction! I found the discipline & rule-following the hardest area to conquer. Eventually I took a break. I KNEW there was money to be made but I needed to take some time off and devise a clear strategy. For me patience, discipline & the ability to follow the rules are the keys to succeeding at Forex.
When did you launch your website?
I launched my free site in 2008 & then forexmentorpro.com in late 2009.
I was trading and making lots of money but I was bored whilst waiting for trades to set up. I taught a few local people how to trade and then started a blog where I shared tips and advice via twitter and the blog. I had originally paid $3300 for a DVD course (what was I thinking?)! I knew I could do a far better job and for considerably less.
What made you change from Forex trader to Forex trainer?
I had been trading for 5 years. I trade from 4 hour charts so had long periods of inactivity, hence starting the blog. I found that I enjoyed helping people succeed and saving lots of people from all the scammers and junk products that we all know about.
What would you say is the most helpful part of your website?
Apart from the educational resources and analysis the biggest, most popular section is the members only section of the forum.
It's run by full time professional trader Pierre who is on hand during the London & early New York session to share tips & advice. Members can share ideas and strategies. There is no negativity and experienced members are genuinely willing to help.
What makes Forex Mentor Pro different than other Forex courses?
Its high quality with great support but is ridiculously cheap. The Forex mentor program has over 40 educational mini videos to teach people how to trade but the biggest benefit for members is that we show the day before what we expect to happen in the markets, why and how we intend to trade it. I am known for being spookily accurate with my projections J.
What type of people register to your Forex forum?
It's a spam free forum (every member is vetted). We have members who have graduated and become pro traders who are then happy and willing to give something back. There is no room for wingers and negativity - only a genuinely helpful ethos.
What makes the forum helpful for new traders? Experienced traders?
New traders can ask any questions without fear of being ridiculed. They can rub shoulders with lots of people who have been where they are now. For more experienced traders it's a chance to connect with others (trading can be a lonely past time) and help others if they choose.
Any final thoughts or words of encouragement?
Forex can be a very profitable business, BUT people need to treat it as a business not a hobby if they wish to be very successful. Those coming into Forex expecting to get rich overnight will be disappointed. It takes time, effort and commitment, but the rewards can be brilliant if you can crack it.