ED's Page

Hi

My name is Michael Thomas; you might remember me as the former Head of Training for PremiereTrade. I have been friends with 'best-selling' Forex author James Dicks for many years, and have learned a great deal from him. James is launching a book tour and training course centered on his latest book "The Forex Edge". James mentioned I was the best person he knew to launch a Forex Introducing Brokerage firm. One of the most important lessons I took from James is the importance of unparalleled customer support. I am sending you a personal note letting you know that I have started a new Forex firm, OTCFX Inc., located in Lake Mary, Florida.
I started OTCFX to help solve many of the issues I see customers facing at their current Forex brokers. These firms are happy to take your deposit, but fall silent when you have questions about trading, charting, or bad fills. Over the years I have used my expertise to help my clients with problems, concerns, and questions about technical analysis. More importantly, I have helped clients understand how to place trades using that analysis. I have recently aligned my firm with ILQ (Institutional Liquidity). ILQ is a NFA registered Forex Dealer Member that only deals with institutions like OTCFX. This arrangement allows me to act as an intermediary on behalf of my clients. Also, this partnership removes the concern that ILQ will treat me as their competition as I have experienced in the past.
Aside from having a mutual belief in doing what is right by our customers, one of the main reasons that I choose ILQ was the large number of currency pairs available to trade. Right now you can trade up to 50 different pairs that include 11 majors, 21crosses and 18 exotics. I believe having strong customer support and a wide array of currency pairs to trade will make my firm an attractive option for you.
I hope you will consider my firm for trading in the Forex market. I have always enjoyed my relationships with my clients in the past and I would truly enjoy serving your Forex needs in the future.
If you have any questions, let me know.
Thank you and take good care.
www.otcfx.com

--

Michael Thomas

President/CEO

 

OTCFX Inc.

103 Commerce Street

Suite #100

Lake Mary, Fl 32746

407-459-1188
1-888-813-4543

 

*Trading in the Foreign Exchange market involves a significant and substantial risk of loss and may not be suitable for everyone. You should carefully consider whether trading is suitable for you in light of your age, income, personal circumstances, trading knowledge, and financial resources. Only true risk capital should be used for trading in the Foreign Exchange market. Any opinion, market analysis or other information of any kind contained in this email is subject to change at any time. Nothing in this email should be construed as a solicitation to trade in the Foreign Exchange market. OTCFX Inc. (NFA ID# 0431979) is a registered Introducing Broker for Institutional Liquidity, LLC (ILQ). If you are considering trading in the Foreign Exchange market before you trade make sure you understand how the spot market operates, how OTCFX is compensated, understand ILQ's trading policy and rules and be thoroughly familiar with the operation of and the limitations of the platform on which you are going to trade. This message and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom it is addressed. It may contain sensitive and private proprietary or legally privileged information. No confidentiality or privilege is waived or lost by any unintended transmission. If you are not the intended recipient, please immediately delete it and all copies of it from your system, destroy any hard copies of it and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print, or copy any part of this message if you are not the intended recipient. OTCFX Inc. reserves the right to monitor all e-mail communications through its networks. Any views expressed in this message are those of the individual sender, except where the message states otherwise and the sender is authorized to state them. Unless otherwise stated, any pricing information given in this message is indicative only, is subject to change and does not constitute an offer to deal at any price quoted.

I believe you could use the 60 minute charts, but I wouldn't go any shorter than that. I'm only using the 240 and the Daily charts now, however the plan was designed for hourly charts and larger. Logic dictates that the shorter the timeframe......the more entry signals you'll get, and the more trades you'll be in. That's okay.

Remember though, this is a trend trading strategy. You CANNOT take every entry signal that comes along!!! You can only take entry signals in the direction on the trend!!! Go back and review the first paragraph of the strategy.........

"50 simple moving average - The signal line that triggers the trades.
100 SMA - Gives a clear trend signal.
The actual time period of the SMA depends on the chart that you use. This strategy works best on hourly and daily charts. The main premise of the strategy is to buy or sell only when the price crosses the moving averages in the direction of the trend."

To me ED, just looking at the 100 SMA on the 60 minute chart in EUR/USD tells me that the trend is still to the downside. I wouldn't even consider going long using THIS STRATEGY until it turns back up or until the 50 SMA crosses back above the 100 SMA.

As it looks to me right now.....there is entry signal. In fact, if the price turns back lower, I'd be watching to go short again.........

Hope this is making a little sense......because you can make crazy money once you learn how to trust the trends and have the discipline to ride them out to completion!!! If you have any more questions, let me know...