This page will answer the most common questions relating to the Trading Analysis & Coaching Service. If your question still isn’t answered, then please don’t hesitate to get in touch using the contact form.
What are the prerequisites for subscribing to the members' service?
Membership is at the discretion of TraderSimon, by invitation only, subject to vetting and signing a Non-Disclosure agreement.
There is a waiting list for admission to the group as the group size is limited to a maximum of 30 members. You must have taken the Udemy course to apply to join.
Membership is not open to vendors of other trading services.
What will be the format of the new coaching service?
There will be a weekly coaching session of 1 hour or more in duration. We’ll look at potential live trade setups for Forex, Stock Indices, Gold and Crypto, discuss member’s queries, look at strategy and anything else that will help members improve their trading.
During the week. I’ll publish analysis, chart updates and trades to the private Discord feed. These will be related to the setups that we discussed in the webinar and anything new I may spot.
Member’s are encouraged to post their own setups and questions to the private Discord feed.
When will the webinars be held?
A schedule of webinar dates and times will be posted on the webinar page of the website.
Generally, webinars will be held on a Sunday morning at 10:00 UK time (BST/GMT).
I may have to change the schedule occasionally to fit in with my commitments/holidays. All webinars will be archived, so don’t worry if you miss one!
Is this a signal service or investment advice?
The purpose of this service is to teach you my strategy with live real-time examples and coaching webinars.
I will show the trades I take whenever possible, however… the analysis, trades and information from this service (and any other service provided by TraderSimon) are provided on an educational basis only, do not constitute investment/financial advice and may undergo changes from time to time.
If in doubt, please contact your financial advisor and ensure that you read and accept the disclaimer and terms and conditions before signing up.
What return can I expect to make from your service?
As this is an educational service, it would be unethical for me to guarantee that you would make any particular monthly return by following my trades.
In fact I would strongly discourage you from taking my trades, as I am not a licensed financial advisor and to suggest otherwise would be contrary to the regulations set out by the UK Financial Conduct Authority.
The financial markets are a living, breathing and ever changing entity and as such:
- Trading conditions can change very quickly and the frequency of the trades that I take, profit targets, type of trades (swing/intraday/position) and instruments that I trade will be entirely at my discretion and subject to change without any notice.
- I may scratch or re-enter trades at very short notice if market conditions dictate.
- Additionally, I will not force trades when there are none – impatient traders will be shown the door! If I have to wait days for a trade because nothing is tradeable, then that is what is necessary to preserve my account balance.
Will you be in the chatroom all day long?
The main focus of this service are the webinars, with the Discord chat being secondary to the service. We may increase the frequency of weekly webinars in the future.
There are many entertaining Discord/Twitter feeds, but this will be a serious chat with less small-talk 🙂 With that in mind, I’ll post to the Discord feed only when I have a chart or trade update to share. The best traders are patient traders!
Please be advised that there will often be mornings/afternoons when I am away from my desk to attend to my everyday life away from cyberspace!
Apart from that, I’m generally at my desk Monday to Thursday. I rarely trade Fridays.
Which instruments will you focus on?
My most frequently traded instruments are currently the S&P 500, Gold, EURUSD and USDJPY. I also sometimes trade GBPUSD, USDCAD, AUDUSD, NZDUSD, EURGBP, the Dow Jones 30, Nasdaq, Silver and WTI Crude Oil.
I will sometimes trade the following Cryptos: Bitcoin, Litecoin, Ethereum, Ripple and Stellar Lumens.
I’m happy to look at any instrument or asset that members are interested in.
Which timeframes do you trade?
I use multi-timeframe analysis. We will look at all timeframes from the Monthly right down to the 5 minute.
How long do your trades last?
We will look at swing trades and intra-day trades. The holding period for swing trades will be anything from a day to weeks. Intra-day holding periods will be from minutes to hours to days and typically closed before Friday. I’ll state the type of trade when necessary.
Which days of the week do you trade?
I trade Monday’s to Thursdays. I rarely trade Fridays.
How many trades do you take a week?
There are no guarantees as to the number of trades I will take per week. Trading is a waiting game and I will let the market dictate when I should trade.
As a general rule of thumb, there are seldom weeks when I will take no trades and taking more than 5 trades per week is quite rare too.
Do you trade through news or volatile events?
I will hold swing trades through news, overnight and over weekends. I only hold trades over the weekend when I’m able to use guaranteed stoplosses. These limit my downside risk, even when the market gaps.
For intra-day trades, I will make a decision whether to hold through news depending on whether my trade is in profit or not.
I may also occasionally enter during news if an opportunity presents itself in the correct way.
What Risk Management are you using?
I will risk no more than 1% of my account on any one trade, whether it is a day trade or swing trade. However there may be times when more than one trade is open to a maximum risk of 3%.
I will often take half size trades, in other word 0.5% risk. If I take a half size trade, it will be clearly stated.
I generally aim for a reward of 2% or more. However, the market dictates the profit that is available, not the wishes of a trader! I will often “scratch” trades or close them at 1R or less if a change in market conditions necessitates this.
There is an exception to the rule for a particular setup that provides a high win rate and low risk/reward.
Whether you go for a high reward to risk and/or a high win rate, either way, the maths need to add up for a profitable strategy!
If I plan to hold a trade over the weekend, I will use guaranteed stops if possible (provided by some spread betting brokers).
Can I ask questions about your analysis and trades?
I encourage members to ask questions about my strategy on the feed, but please be patient for an answer as I trade during the day. To enable me to comment more effectively, ideally a chart should accompany questions where appropriate.
If a question is about the merits of a trade that I happen to be in, I will often not answer the question until the trade has played out. This is to protect me from new trader’s bad habits/ psychological hangups/impatience that could affect my own bottom line!
However, the more interesting questions and queries may be covered in detail in webinars.
I followed your private coaching Twitter feed but was declined?
The private Twitter feed is now obsolete.
All trading discussion will be posted on the private Discord feed.