FREQUENTLY ASKED QUESTIONS

We have received many questions via email in the past and have found following questions asked frequently. If the following does not answer your questions than feel free to email us at info@4x4u.net, and we will be delighted to reply to you with an answer.

What is Bindal FX?
We are highly experienced Traders, who Trade for a living, have specialist Index analysts, specialist Currency analysts, and back-up staff, plus external sources.

How long have you been Trading?
The principals of Bindal FX have been trading for the past 20 years. We have survived the 1987 Crash! The Gulf war ! The Nasdaq Meltdown, and many more crashes! Over the years, we have perfected our trading skills, thus we are now sharing these simple rules that work.

What is your trade record from using the systems that you teach?
The Trading results from using this simple system has been excellent. We have constantly averaged over a thousand points consistently every month. This includes Forex, Index futures and few Stocks. For Example between Jan 2005 to April 2005, we achieved nearly 7,500 points. Just imagine what a £10 spreadbet on this positions would have done to your bank balance

If it is simple than why do 90% lose money.
To put it bluntly and without offending anyone, the 90% losers have only themselves to blame! Anyone with a simple set of rules to follow with discipline will succeed. The majority simply do not have a system, Do not have a strategy, Do not have a Plan, Do not have a Trading Journal, - apart from the strategies, our course materials has detailed training on the Psychology of trading. It must be said that the majority of Traders have not been trained to Trade! Many cannot be bothered to pay for a Traders Coach or a Mentor, but are quite happy losing thousands on trading losses.

What systems do you use for the course?
There are no black boxes or holy grail, we will teach you to devise your own set of system and rules. We do not use any 'systems'. We do not believe that any 'system' can achieve consistently profitable results in the markets in which we specialize. The only person that can built a system that suits your psychology is YOU!

Do you use fundamental or technical analysis in your course?
Our trading is based on research and analysis of numerous constantly changing economic, political, fundamental and technical factors. And this is fully covered in the course. However, most importantly, what we cover lots of materials that most course and books do not cover, such as the Psychology of trading, money management, how to write a trading plan, how to devise a trading system.

Will I need Charts subscriptions?
I am glad that you asked this question. There are a lot of free internet charting packages available. But there are limitations to it, and you can only use basic analysis. If however you are a serious trader and wants to make money, then I would highly recommend a good quality charting package. I have used e-signal and Ensign software. Both highly recommended.

Why are you not just trading this system instead of teaching it?
My first love is Trading, and that is what I love doing the best, I love to teach and mentor because It gives me pleasure in seeing some of my students succeed and make money trading the Forex, some of them have gone on to be even more successful than myself! I enjoy meeting the people and in the process have met many good traders, successful in their own way. I also got into the teaching side almost by mistake. I wrote a book as a hobby. One thing led to another, and it became a very popular Forex manual when some of my trader friends read it, you could say a hot seller, but now I have the best of both worlds. I can do both.

How Much Capital do I need?
Let me be totally honest, you may have seen many so called gurus and Trading mentors, who say you can start with $300!, with that start up capital, you not only need the skills but lots of luck, one losing trade will shatter your psychology. Although there is nothing to stop you starting out with say £300, but realistically I would say you need at least £5,000 of capital, that you could afford to lose. In trading you will always lose, but what you want to do is keep your losses small

Do you actually Trade this system yourself?
Yes, of course I do. In fact I run a one 2 one training and mentoring program, where this system is taught in detail. Further I will in due course launch an alert service for traders who are just too busy to learn this system. This system will be launched later this year.

Are your methods for day trading or can it work with swing trading?
The techniques taught in our publications work for all time frames. These methods are standalone trading system, you choose the time frame in which to trade. Some of our students are happy at scalping for 5 and 10 points a trade, others are more happy trading for over 100 points a trade.

I want to Trade Forex for a living, what advice can you offer me?
The techniques in our course materials are completely tested, there are many strategies shown which work. You should than try and paper trade it until you are totally familiar with it. I would also ensure that you treat this as a business and you plan all your moves! After digesting the course you should write down a system that you wish to adopt, have a Trading Plan, with sound money management rules. Also lot of items discussed in the Psychology of Trading is useful and you must apply those teachings. Lastly, in my opinion a Trader Coach or a Mentor is a must, you must invest in your business

What else do I get with buying your Course materials
" Free 1 month Mentoring program, where you can discuss any strategies or trades that you have applied.
" Free assistance with writing up your trading plan, you can write one and than send it to us, and one of our experts will have a look at it and guide you accordingly.

Why does your currency trading system work?
The reason is quite simple. ALL professional traders, be they trading for themselves or for banks, financial institutions, funds, and the such like, adhere to the concept of support and resistance, Trend and Chart Patterns, which is the premise behind my system. When you see price violate a pivot point convincingly, there are automated trading systems out there that automatically kick in and buy or sell, depending upon where price is going. So, in essence, these two factors alone account for why other indicators are left breathing dust. Bar patterns, MACD divergence, different time frame readings, and trendlines are definite precursors to price changing direction but, in the final analysis, where price is in relation to its nearest pivot point, is the big clue. Tie all these indications together, and you are sure to out-fox price's next move.

How much profit can actually be made?
Of course, results can and do vary among individuals and no guarantees can be made as to profitability. However, let's look at some sample numbers based on averaging just +30 pips a day and each pip having an average value of about £10 on a spreadbet, that would be £300 per day, and £1500 per week. However an experienced trader may trade over a number of currencies. Our system aims to achieve on an average of 125 pips per day trading the 4 majors.