These are most common question new customers ask us. If you have some other questions, please do not hesitate to email us.
If you have not read a detailed description about out service, please read about Forex Trading Room here.
Q: "Why are you called Profit Mongers?"
A: Well, the profit part speaks for itself. Anyone who trades does so to earn a profit. Since that's what trading is all about, that's what we're all about. A "monger" is defined as "a dealer in a specific commodity," or "a person promoting something." Also, personally when I think of a monger, I think of someone who likes to hoard something, although that association may be somewhat in error. Either way, we at Profit Mongers are dealers of profits. Our goal is to help you develop your trading and assist you in making solid, consistent profits. Hence, we are profit mongers.
Q: "Are your daily signals free? What do they include?"
A: Yes, we provide free daily market analysis signals with text and usually video as well. In those signals we talk about the overall trends in the markets and discuss ideas on how to make money in them. We also will bring up analysis when necessary on some short term opportunities like economic news releases, important speeches, and ways to play key times in the market when there may be a turning point. We even share some of the longer term trades called in the trading room in these signals as well. However, since our members find great utility in the daily signals as well, at some point we may decide to enhance them somewhat and make a portion of the daily signal free, and another portion for members only. Until then please enjoy.
Q: "If you're such a great trader, why do you waste time running a service? Why don't you just focus more on your own trading and become a billionaire?"
A: I get asked this question a lot because the money I make from running this room is such a tiny fraction of what I make on my own time. The honest answer is this -- Early on, even before I officially became a signal provider and educator, providing advice, education, and calling trades with people in a community helped me solidify my own opinions, reinforce valuable lessons, and find the best trading opportunities. I guess, in short, teaching makes me focus my own strengths and skills as a trader. It also pushes me to practice what I preach. I am a much sharper, profitable trader when I know that I have others depending on me. I also love teaching and am also a firm believer in "spreading the wealth." But I've always said that if the day comes where running the room inhibits my own trading more than it helps, that's the day I'll move on to greener pastures.
Q: "Are you guys an educational service or a trade calling service?"
A: We are definitely an educational service. Telling you specifically what you should trade and exactly how to do it is something that's only responsibly done on a person to person basis by licensed professionals since every trader or investor's situation is different. We don't trade other people's money and we are not responsible the gains or losses of our subscribers. However, we feel that calling live trades is a very valuable part of the learning process and many more experienced traders stay with us primarily for those live trade calls and quick market analysis.
Q: "What can I expect from Secret Fx Trading after I sign up?"
A: You will get an email with instructions on how to log in and navigate to the member's area. I suggest you start with the Orientation Video in the Education section for a video walkthrough of how to find everything and how we typically do things here. I suggest checking the schedule in the member's area to see what times we will be running active trades in the room. There is also educational material to look through to help teach you some of they systems we use commonly in the room.
Q: "Trading is a bit too much for me. Can you just trade my money for me?"
A: Sorry, none of us run any managed funds. With all the new NFA and CFTC regulations, it's just too much of a headache to run a large managed fund, and running a small managed fund just is too much work for the money. If that changes at some point, we'll let you know. It's just much easier and less hassle to just trade our own money. Also, it's better for you to learn how to make money from money yourself. If you can put in the time and learn how to successfully trade and earn consistent profits, that is a skill that will be easy to fall back on and have tremendous value for you the rest of your life.
Q: "Who are you guys and what are your trading backgrounds?"
A: Check out the
About Us section on the website for more
info on each of us.
Q: "Where is your performance posted?"
A: We chose not to post our detailed performance publicly on the website. Most services that post their trade performance on their website as a marketing tool have very padded, incomplete, or otherwise unrealistic results to lure in customers with false hopes of making a ton of money quickly. What we do is provide our detailed performance to our subscribers in our member's area and double check with them to make sure it's accurate. What's great about that is when you make your own modifications to trades, you can compare your results to the official performance on those trades and determine whether your modifications are helping or hurting your profit over time. We use our performance as more of a tool for our user's benefits rather than a marketing ploy to lure in new traders. However, if you are a very discerning potential customer and demand to see our detailed performance statistics before starting a trial membership, then just send us an email and we will happily send it out to you.
Q: "I only trade Forex. Do you guys provide plenty of material on the Forex markets?"
A: Yes, we definitely do. Forex what we primarily focus on here at Secret Fx Trading, and most of the time it's at the core of everything we do. We also discuss and trade opportunities in futures, options, and stocks, but much of that activity works to build the perspective necessary to analyze forex successfully.
Q: "I don't trade Forex. I usually trade in another market. Should I still consider joining?"
A: That really depends on your situation. If you trade futures, I think you'll find a lot of value in our service since you can trade stock indices, commodities, and currencies all via futures. Several people who follow our service choose to trade Forex futures rather than spot forex accounts. If you only trade stocks and/or options, I think you should be open to the idea of opening up a small spot forex account or demo account at a decent broker in order to get a good value from the service.
Q: "Wow, there's not much in this FAQ yet. Where can I ask a question that's not covered here?"
A: Feel free to send us an email at support(at)profitmongers.com. Your question will be forwarded to the appropriate person, and we'll try our best to get back to you promptly. For more detailed contact information, try the Contact Us tab.