SIGNALS
Q: How long has your service been in existence?
A: Since July 2007. Our Web Site was created in July, before that date we were working with friends and private recommendations only.
Q: Are the results posted based on every recommendations you have made?
A: Yes.
Q: Is true that when you meet your monthly goal you stop sending out recommendations?. How does that work with the Gold membership which gets unlimited recommendations?
A: Yes, it is true and all our members are very happy. Does it mean that after we give enough recommendations that net 800 to 1000 pips, we stop sending out recommendations to preserve capital.
Q: What time do the signals come out ?
A: At his time, Signals are sent daily, between 22.00 PM US EST and 01.00 AM US EST.
Q: Are your signals "set and forget" or I need to monitor the markets all day?
A: Signals are set and forget. The only possible change to a signal (very rarely) is during our trading time hours (3 hours a day), after that time nothing will be changed.
Q: What are the currency pairs trade by Midnight Forex?
A: We trade all majors and crosses, but we focus in some pairs specially like eur/jpy, eur/usd, aud/jpy, and usd/chf.
Q: How many trades can I expect per month?
From 5 to 20. We don't trade if the conditions are not appropriate. We can stay with "no trade" signals as long as is needed. We trade to win not for emotion. In December,2008, we made over +800 pips in just 7 trades (5 winners, 1 break even and 1 loser).
Q: Do you offer different pairs for Standard, Premium and Gold subscriptions?
A: No! The difference between subscriptions plans is not different trades or different pairs but the quantity of pips you will receive. In Standard you will receive signals only up to +300 pips, in Premium up to +500 pips and in Gold you will receive all signals.
Q: How many pips do you use in your stop loss?
A: Stops are not fixed, it depends on market conditions and pairs, and could be from -80 to -150 pips.
Q: What is the risk per trade of yours signals?
A: The risk per trade is not determined by Midnight Forex. We suggest to begin the month with low leverage 2x or 3x and increase it with profits only.
Q: What has been the largest draw downs and what has been the largest draw down in a single trade?
A: So far, largest drawdown was around -550 pips, largest in a single trade -300 pips. (2 lots)
Q: Are the spreads include in the signals or May I add the spread of my Broker in every signal?
A: After we sent a signal, if it is a market order, we will send a second email informing our entry, so you can adjust your stops to our trade.
Q: When we trade, what % of the total capital should I risk on the trades?
A: This is a personal decision, according to our personal risk acceptance. We suggest NEVER risk more than 5% of your account in 1 trade.
MANAGED ACCOUNTS
Q: What's the minimum and maximum amount considered for accounts managed by Midnight Forex Traders?
A: Minimum U$ 5K, no maximum.
Q: What has been the experience of the head trader who will be trading the managed accounts?
A: Over 20 years of experience, 10 in Forex.
Q: Which broker will you be using or are using for Manged Accounts?
A: Depending on account size. For more information please ask.
Q: What is the performance fee % you will be taking off profit per month in % points?
A: 30% of the profits, as standard in the industry.
Q: How do I start to have my account managed by Midnight Forex?
A: You should confirm with us, inform the amount of the opening account, and then open an account with the selected brokers, just giving a power of attorney to trade to the selected trader of our group.
Q: There are low risk and high leverage accounts, could you give me some details about the trading style of both systems?
A: In low risk, (normal accounts) the maximum risk per month is 15%. In high leverage accounts, there is no maximum risk, (we adjust it to the market conditions) and the results are higher, since trading profits are directly related to risk acceptance.
Q: Performance of Managed Accounts?
A: We opened managed account for the general public in November 2008 only, before that we only trade for ourselves or friends. The low risk accounts are up + 34.9% for this 3 months (+14%, +14% and +6.9%!), with a maximum drawdown de 11%.
Q: In the Managed Accounts you trade the Signals only?
A: No, we trade the signals and also other trades indicated by our System with entries in a different time than our Midnight Forex trading hours.
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