FREQUENTLY ASKED QUESTIONS
CAN I TRADE OTHER GBP CROSSES?
Q. You only use London Forex Open for trading GBPUSD but Big Ben and London Forex Rush used other GBP crosses. Can I use London Forex Open for other GBP crosses as well?
A. Yes, of course you can. However, we have used our system on different GBP crosses in the past and decided to concentrate on just the GBPUSD for the following reasons:
- It was, give or take a few pips, the most profitable GBP cross to trade
- It has the smallest spread (we don’t include EURGBP here)
- Most GBP crosses are correlated in some way, so trading more than one increases risk exposure
- GBPUSD seems to move more consistently
Please feel free to try other GBP crosses. We would welcome your feedback but do bear in mind the above points and take note, that Stops and Profit Targets will most probably need to be tailored to each pair.
CAN I TRADE THIS STRATEGY ON TIME-FRAMES OTHER THAN 08:00 GMT?
Q. You only use London Forex Open for trading GBPUSD at 08:00 GMT. Can I amend the indicators to trade other time-frames e.g. the US Forex Market Open?
A. Yes, this is possible. However it detracts from the sound fundamentals upon which this strategy is based. We are seeking to take advantage of a prior trend being restricted during the Asian session (when the UK and US markets are closed) and exploiting the “break-out” from this range when the London Forex market opens and continues the previous trend.
WHAT IF I MISS A TRADE?
Q. What happens if I miss a trade, what do you suggest?
A. We suggest you never allow this to happen. On occasion just after 08:00 GBPUSD can move rapidly in the direction we are looking to trade. One missed trade can have quite an impact on your results for the month. Therefore we suggest you are prepared and alert so as not to miss an entry. Besides, it’s only 10 minutes each day! As a note, never ever chase a trade. If you missed it, accept it and take corrective action for the future.
WHY DON’T YOU OFFER A REFUND/MONEY BACK GUARANTEE?
Q. Many systems come with a refund or money back guarantee. Why don’t you offer one ?
A. Our strategy is based on the sound market fundamentals of the Asian market range principle combined with the opening of the London Forex Market. This is a concept that has been around for a long time, has proven itself in the past and should continue to work for the foreseeable future.
Our Technical indicators and strategies to take advantage of this opportunity are ours and we have worked hard to make them sound. If we offered some form of refund we would have no way of recouping any of that material, which we don’t think is fair.
As for a Money Back Guarantee. Well, we do not make any promises to anyone about this system. While we use the system ourselves we too know that there are no guarantee’s when trading. What we do know though is that,in the past, our strategies have been successful and we firmly believe we have an edge going forward. If they do not, we will accept it and consider adapting, just like we do with any other trading losses.
