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Hi and Welcome

Thank you for supplying us with your demo accounts and agreeing to help us test our trading strategies. We hope that you will be pleasantly surprised
at the results that you will be achieving during this testing process.

It is so much better when our strategies are tested independently by other traders. This gives the results obtained more credibility for future users of
our systems.

The various traders will be testing different trading systems that have been successful in the past. You will also receive the benefit of this testing. If you
know of any another traders who would like to help with the testing just get them to apply through the website. It is likely that they will get a slight
variation of the system that you will be trading.

Please bear in mind that this is not a training course. At best we can clarify our instructions but if the concepts are to complicated you maybe be able
to obtain information on our blog   www.forextradeoftheday.com  Just type the topic in the search facility and hopefully you will find the information you
need.

You may also be wondering why you were required to open 2 accounts.

The first account will be used to trade the signals using the trading technique supplied to you and applying the maximum lot money management
approach.

The other account will be used to trade exactly the opposite trade to those traded in the first account. If the signal in the 1st account calls for a buy you
will enter a sell in the 2nd account. This turns the 2nd account into a type of control account but also will test the impact of using the Maximum Lot
system.

The system what you will be testing consists of 2 elements.

1.        The Maximum lot Money Management System and

2.        The trading system.


THE MAXIMUM LOT MANAGEMENT SYSTEM

We have a free course on the maximum lot system but below is all you will need to know to calculate the number of lots to be traded for both account.

You will have to know:

•        The balance on your trading account:
•        The spread of the currency to be traded.
•        The size of your stop.
•        The value of a pip in the currency that you are trading.

The maximum number of lots to be traded is calculated in the following way:

The balance on your account

Is divided by

The total of
1. the margin required in $
2. the size of your stop in $
3. the $ value of 10 pips in the currency you are trading

For example:
You are trading the USDJPY – pip value is $ 0.92 and spread is 3 pips

The balance on your account :                                                          $ 5 000
The size of your stop (say)                                                                  60 pips
Therefore the value of your stop is 60 pips x $ 0.92 =                 $ 55.20
The value of 10 pips is 10 pips x $ 0.92 =                                      $ 9.20
The $ margin required  =                                                                   $50

Therefore every lots will cost ($50.00 + $ 55.20 + $ 9.20)                 = $114.40 to trade
With $ 5000 we can therefore trade ($5 000 divided by $ 114.40)   = 43.7 lots      = 43 Lots (Always round downwards).

Do a few of your own examples and it will soon become very easy.  If you find the maths a bit stressful, we will send you an excel spreadsheet that
should simplify the calculations. Please send us an Email requesting an Excel lot calculator                                                        
                                                   
                                                                                   LOT CALCULATOR


OK….. If this is still too complicated simply start with 10 lots for your 1st transaction and increase lots by 1 lot for successful transaction (11 lots for
next transaction) and decrease the lots by 1lot for unsuccessful transactions (9 lots for next transaction). Apply this process to both accounts based on
the results of each account.


THE TRADING SYSTEM

We have tried to reduce the number of variables in the system is the following way:

•        You will be required to trade the same amount of pips as a target for all of your trades. This will be specified in the technique
•        The stops in pips will be the same as the targets – the FXCM dealing station makes the entering of stops and targets very easy.
•        Try to enter your number 1 and number 2 account transactions at the same time. To do this you may have do the entries within seconds of each
other and then add the targets and stops afterwards.
•        If you make a mistake with any deal entered cancel the deal immediately and start again. You will have to recalculate the lots due to the loss of
the spread when you cancel.
•        If you make an error that you only pickup late or after the deal you will have to apply for a new set of trading accounts and start again as the results
will not reflect the trading rules.
•        You can trade any currency at any time of day but we would suggest the more volatile currencies such as the GBPUSD, EURJPY, USDJPY etc as
long as the trading signal is present.
•        Always trade one transaction at a time. Don’t enter a transaction before the previous one has be concluded.


For details of the trading technique please click on the link below.

                                                                                                           TRADING TECHNIQUE


For details of  the system that you are going to trade has already been supplied to you in the welcoming message. Please use the faciity below if you
have any questions
Disclaimer:-The information on online Forex trading presented on this website should not be regarded as forex or currency trading advice. Currency trading and fx trading is highly speculative and should only be done with
risk capital. Foreign Exchange prices rise and fall and past performance from currency trades is no assurance of future performance. This online forex trading website is a currency trading information website only.
Accordingly, we make no warranties or guarantees with respect to the correctness or validity of its content. Forex traders making use of the online currency trading information presented do so at their own risk. The
information provided herein does not take into account their forex investing objectives, financial situation or needs of any particular person. This site is not intended to by used as the only source of currency trading
information or forex education. It is important and assumed that traders use sound trading principles when using the online forex trading information on this currency trading site. This includes trading common sense, sound
money and risk management and full personal ownership of any trading decisions. Investors should obtain individual financial advice based on their own particular circumstances before making any foreign currency
investment decision.