Instant FX Profits is a recorded version of a Forex training workshop conducted by Kishore M in Singapore. The workshop comprises of seven modules, covering from the basics of Forex trading, such as introduction to currencies and money management principles to the more technical aspects, including technical indicators and trading strategies.
Although these are recorded videos from a live training workshop, they are pleasantly clear and watching them in full screen does make you feel like you're attending the live session.
Kishore M is an Ex-Hedge Fund manager that has over 10 years experience in the Forex, Stock, Commodities and Derivatives market. Kishore is also the best-selling author of "Retire Rich Trading" and has conducted various financial seminars in many countries around the world. He has also contributed articles to various magazines and newspapers as well as being featured in major business channels.
The following is an overview of what is being taught in each module in the workshop.
In Module 1, Kishore teaches the very foundation of trading the Forex market. This includes introducing the various currency codes being used, the major currency pairs and crosses, the special characteristics of various currencies, including the factors that may influence their movements and the expected range of their daily movements, the difference between base currency and quote currency, and the spreads of those currencies. In addition, Kishore also discusses pips, which stands for percentage in point, including how to calculate their values in a trade.
Kishore then covers the concepts of making profits in both uptrend and downtrend markets and an explanation on the various trading orders such as market order, limit order, stop order, one-cancels-the-other (OCO) and trailing stop orders. Kishore also touches some aspects of Fundamental Analysis focusing on major economic indicators such as Gross Domestic Product (GDP), Production Price Index, Consumer Price Index and Employment Cost Index. He then covers the Global Economic Calendar and Daily Economic Reports as well as the announcements made by the Central banks.
In Module 2, Kishore teaches the Technical Analysis of Forex trading. Firstly, he covers the basics of candlestick charts, explaining how candlesticks should be interpreted by looking at the open, close, high and low prices, and also introduces some useful candlestick patterns, including doji, twin tower (tweezer), topping and bottoming tail. Next, he explains the various time frames in which the currencies can be traded and the target profit and stop loss levels to be set for each time frame. The lesson that then follows is one of the most important, i.e. how to identify the trends of the market using trendlines and the various reversal and continuation patterns. In this section, Kishore provides a comprehensive list of these patterns, including Bullish Triangle, Bearish Triangle, Ascending Triangle, Descending Triangle, Bull Pennant, Bear Pennant, Falling Wedge, Rising Wedge, Double Top/Bottom, Triple Top/Bottom and Shoulder Head Shoulder.
In the last section of the module, Kishore teaches the various technical indicators that will later be incorporated into the trading strategies. This includes Moving Average (MA), MACD, Stochastic, CCI, RSI, Bollinger Bands, Parabolic SAR, ADX and Demarker Indicator.
Module 3 and 4 are the modules that most students will be looking forward to. It is the Spot FX Trading Strategies. In Module 3, Kishore teaches six trading strategies, each of which is suitable for different time frames and currency pairs. The strategies are Instant Pip, Pip Maximizer, Pip Retracement, Pip Breakout Explosive Profit, Pip Quantum Profit, and Pip Divergence. In Module 4, Kishore teaches two other strategies for news releases, i.e. Non Farm Payroll and Federal Open Market Committee (FOMC). Although the Non Farm Payroll is released on the first Friday of each month and the FOMC meeting is held eight times in a year, the profit potential on these trades can be significant, as the price can move hundreds of pips when these news are released. Each of these eight strategies is being explained in great detail with illustrative examples. A separate pdf manual is also included dictating the step by step execution of the strategies.
In Module 5, Kishore does a recap on all the lessons that have been taught from Module 1 to 4 above, and also conducted a short Q&A session with the students with particular emphasis on the trading strategies This is really useful as a refresher, given the amount of detail being learned in the first 4 modules, before proceeding to learn even more in the following modules.
In Module 6, Kishore teaches more technical contents, including how to draw trendlines using fractals, how to use Fibonacci ratios to find levels of support and resistance and a comprehensive lesson on pivots, including how to calculate pivot points and some useful pivot strategies to be used along with Fibonacci Levels and Parabolic SAR. The module then continues with Kishore introducing a different topic, i.e. Forex Futures. Note that everything he has taught from Module 1 till now is Spot Forex. The main difference between Forex Futures and Spot Forex is the time when the trading price is determined and when the physical exchange of the currency pair takes place. With Forex Futures, the price is determined when the contract is signed and the currency pair is exchanged on the delivery date, which is usually some time in the future. In Spot Forex, the price is also determined at the point of trade, but the physical exchange of the currency pair takes place right at the point of trade or within a short period of time thereafter. This topic could be too technical for some students, but it's an additional topic for those who wish to trade futures.
Module 7 is divided into two parts. In part 1, Kishore covers the strategies for trading the US Dollar Index and the related RYSBX and RYWBX. He then introduces the concept of "hedging" when trading Spot Forex by using a force open. Hedging is particularly useful when the market is very volatile such that the stop losses can get triggered frequently, leaving us with lots of loss trades. A force open allows us to enter the opposite side of a trade without closing the initial trade so that losses are minimized. The module then continues with another different topic by Kishore, i.e. Forex Options. This again can be technical and uninteresting as most students will be focusing on trading Spot Forex. But it's another additional topic which could be useful and can be added to one's knowledge base of trading. As usual, Kishore provides a comprehensive lesson, covering the advantages of trading options over the cash currency market, the different types of options including one touch option, no touch option, digital option, double one touch option and double no touch option, and the strategies for trading these options.
The last section on this part of the module is about Money and Equity Management. Here, Kishore explains the amount of capital that should be invested in each trade and how the trade sizes would change with different account sizes. He then gives a comprehensive guidance on managing your trades, including dealing with losses, planning entry and exit points, managing your emotions during a trade, and developing a realistic trading plan to achieve your desired goals.
In part 2 of Module 7 which is the final module, Kishore gives a practical guidance on using the MetaTrader 4 platform to analyze and enter trades. This includes setting up the charts, placing the different types of orders, inserting the various indicators and adjusting their settings and parameters, and all the other operational matters. He then teaches the use of his personally designed indicators (see the bonus section below) and does live trades with the students, showing execution of the different strategies he has taught. Kishore also introduces some brokers that students can use for both demo and live accounts, and shows a live step-by-step process of registering for an account together with tips on how to get an account approved quickly.
The entire course as described above from Module 1 to 7 is captured in over 12 hours of videos which can be easily accessed on the members area upon logging in. Although some of the topics being covered are quite technical, Kishore has done a great job in his delivery by using layman and simple terms. I do believe that even people with zero knowledge or experience in Forex trading should have no problem following the principles being taught, and more importantly, the step by step approach to executing the trading strategies. There is no option being provided to download the videos, but one can simply use a browser plugin to download them.
In addition, the lessons are also supported by pdf files, acting as manuals and guidances for easy reference. There are over 20 pdf files from the Complete Course Manual to the Strategies slides and technical indicators printshots right up to the Candlesticks Charting manual and MetaTrader Operation Handbook. To complete the list, there is also the MP3 version of the entire course for those who want to listen to Kishore's teachings, rather than watching the videos. Lastly, there are 7 more videos under the "Jumpstart" section in which Kishore provides an overview of the Forex basics and six of his trading strategies. These "jumpstart" videos are intended to provide a quick introduction to students such that they can apply those principles and strategies immediately.
That's just the main course contents. Now, let's look at the bonus contents. Although Kishore included these as bonus items, they actually form an essential part of the trading process, such that they critically supplement the process of putting the lessons learned into practice. Read on below about these bonuses to understand what I mean.
Bonus #1: Chart profiles
These are the chart profiles for MetaTrader 4 for each of the strategies taught by Kishore. For example, the Instant Pip strategy uses Bollinger Bands, Parabolic SAR, Stochastic, CCI, RSI, ADX and MACD. Instead of setting up the charts with these indicators and adjusting their parameters, simply put the downloaded chart profiles into the program folder and the preset charts can be loaded up. Even the colors of the charts are identical to those used by Kishore! These are extremely useful as students do not have to worry about making the wrong settings to the charts, but instead can focus on applying the strategies immediately.
Bonus #2: Trading Indicators
All members of Instant FX Profits are provided a range of indicators for the MetaTrader 4 platform that are designed to support the execution of the strategies taught by Kishore. In total, there are 13 indicators that can be used as trading tools or simply as guidance to enhance the execution of the trading strategies. These indicators are:
Buy/Sell Indicator
Extension Indicator
Scanner Indicator and Template
Instant Pip Profit Strategy Scanner
Pip Maximizer Strategy Scanner
Pip Breakout Explosive Profit Strategy Scanner
Retracement Strategy Scanner
Inner AutoTrendlines
Outer AutoTrendlines
Channel Indicator
Pivot Indicator
Sliding Lines
Candlestick Countdown timer
Each indicator has its purpose and Kishore has provided an explanation on how to use them in the main course (part 2 of Module 7 as mentioned above). My personal favorites are the Strategy scanners which will "scan" all charts for trading opportunities according to the chosen strategy. For example, the Pip Maximizer strategy applies when the price cuts through two Moving Averages. When this happens, the Pip Maximizer Strategy Scanner will lid up in green for a buy opportunity and red for a sell opportunity. This way, I do not miss any trading opportunity and do not have to monitor the movement on the charts all the time. However, the scanner does not give a sound alert, which means we would have to watch the computer screen for a trade signal. Perhaps, Kishore should update these indicators in the future to include a sound alert.
Bonus #3: Graduate Gathering 2009 & 2010
The Graduate Gathering is an annual event held in Singapore, in which Kishore's former students will participate to share their knowledge and experiences in trading the Forex market. In these video recordings, there are a total of 5 very successful students (they are Mona Mohd, Afida Aman, Bellum Tan - CEO of Rich Dad Asia, Raj and Dominic Silva) who all have amazing trading records, each with their own way of interpreting and trading the market, sharing exactly how they enter and exit trades. Although different in views, they all have one thing in common, i.e. they are using the same principles and strategies taught by Kishore. These videos are extremely useful as we are able to see how that same knowledge that we have learned in the course above (Module 1 to 7) is put to practice. I actually learned a few very effective trading tips from Mona and Bellum and incorporated them into my trading plan for better trading results.
Bonus #4: Tutorial from Lucas and Conrad
According to Kishore, Lucas and Conrad are two of his top trainers in Forex trading and Kishore was right. In these videos, Lucas and Conrad give a comprehensive and detailed tutorial on four of the strategies taught by Kishore, i.e. Instant Pip, Pip Maximizer, Pip Retracement and Pip Breakout Explosive Profit. A pdf manual is also included for every strategy being covered.
Note that Lucas and Conrad provided separate tutorial sessions, i.e. a tutorial session by Lucas on the four strategies and another tutorial session by Conrad on the same four strategies. To some, these may be tiring as we would have learned these strategies from Kishore in the main module. However, I personally find this interesting and useful as having the same strategies being taught by different tutors gives me a better understanding of their execution.
Bonus #5: Mona Live Trading Video
In these videos, again we have the opportunity to learn from Mona who is actually a very good teacher! In the Graduate Gathering, Mona gave a brief explanation on how she uses the Instant Pip and Pip Maximizer strategies. In this Live trading session, she focuses exclusively on Pip Maximizer and shares a trading plan that is extremely easy to follow, yet profitable to the participants. Ironically, her 9 year-old daughter has been following this plan and has made over $40,000 in three months! I have personally tried this on a demo and it really works. But in order to make serious money, you need to have a bigger account balance.
Bonus #6: Daily Alerts
In this section, Kishore provides a commentary on the market conditions and gives a trading alert (where applicable) based on his strategies. There is also information on the Dollar Index Future, RYSBX and RYWBX shares, the CRB Index, Oil and Gold. Personally, I only refer to these alerts as a check, as I can already identify trading opportunities on the charts together with the strategy scanners. These alerts are provided on a daily basis and can be downloaded in Microsoft Word format.
Other bonuses
In addition to the six bonuses above, there are also the Chatroom and Online Charting Website to be accessed by students. The Chatroom is a useful medium for Instant FX Profits students to discuss their trading activities and can also be used to ask any questions related to Forex trading. The Online Charting Website is a site that provides Forex news, currency forecasts, economic calendar, Forex charts and many other essential information that are useful for trading.
There are also more videos of other events such as the Forex Championship, in which the winner shares his method of trading the market and other useful tips, and also tutorial videos on six of Kishore's strategies in the Chinese language.
Finally, there is a list of recommended brokers with links to open both demo and live accounts with them, and some having trading credit bonuses as well.
There is also an "Update" section where Kishore will provide the updated materials for this course. At the time of this writing, I have five updates added to the list, i.e. Updates for candlestick patterns, fractals, FOMC strategy, candlestick charts course and Instant Pip strategy. Other than these, the main course is also updated as Kishore conducts these workshops every year. In fact, there are two versions of the main course in my membership area, i.e. the 2010 and 2011 versions. The information provided above about the 7 modules is from the 2011 version.
At the time of this writing, I have been using this trading system for 9 months. Here is my trading routine. I only use the Instant Pip and Pip Maximizer strategies as they suit me well. With Instant Pip strategy, I can make an average of 4 trades per day on the EUR/USD M30 charts with profit of approximately 15 pips per trade. With Pip Maximizer, you don't get trades everyday. On average, I make 3 trades per week with an average of 70 pips per trade on the EUR/JPY H1 charts. That's a total of approximately 2,000 pips a month. As I start with a measly $1,000, I only enter one mini contract per trade. This gives me around $2,000 per month. Following the advice of Mona in the Graduate Gathering event, we do not have to strive for more pips. Instead, we just have to increase our contract size. For instance, by increasing my trade size from one mini contract to two, I would have been making $4,000 a month and so on.
With a realistic target, I am able to trade more confidently but I have also been testing and practicing these strategies on a demo account for almost 4 months, making hundreds of trades, before moving on to a live account. I have found that the key to success in Forex trading is to have patience, consistency and persistence. By sticking to a proven trading system for a long time such that you are really comfortable with the way it operates, you will eventually see the results unfold.
Although these are recorded videos from a live training workshop, they are pleasantly clear and watching them in full screen does make you feel like you're attending the live session.
Kishore M is an Ex-Hedge Fund manager that has over 10 years experience in the Forex, Stock, Commodities and Derivatives market. Kishore is also the best-selling author of "Retire Rich Trading" and has conducted various financial seminars in many countries around the world. He has also contributed articles to various magazines and newspapers as well as being featured in major business channels.
The following is an overview of what is being taught in each module in the workshop.
In Module 1, Kishore teaches the very foundation of trading the Forex market. This includes introducing the various currency codes being used, the major currency pairs and crosses, the special characteristics of various currencies, including the factors that may influence their movements and the expected range of their daily movements, the difference between base currency and quote currency, and the spreads of those currencies. In addition, Kishore also discusses pips, which stands for percentage in point, including how to calculate their values in a trade.
Kishore then covers the concepts of making profits in both uptrend and downtrend markets and an explanation on the various trading orders such as market order, limit order, stop order, one-cancels-the-other (OCO) and trailing stop orders. Kishore also touches some aspects of Fundamental Analysis focusing on major economic indicators such as Gross Domestic Product (GDP), Production Price Index, Consumer Price Index and Employment Cost Index. He then covers the Global Economic Calendar and Daily Economic Reports as well as the announcements made by the Central banks.
In Module 2, Kishore teaches the Technical Analysis of Forex trading. Firstly, he covers the basics of candlestick charts, explaining how candlesticks should be interpreted by looking at the open, close, high and low prices, and also introduces some useful candlestick patterns, including doji, twin tower (tweezer), topping and bottoming tail. Next, he explains the various time frames in which the currencies can be traded and the target profit and stop loss levels to be set for each time frame. The lesson that then follows is one of the most important, i.e. how to identify the trends of the market using trendlines and the various reversal and continuation patterns. In this section, Kishore provides a comprehensive list of these patterns, including Bullish Triangle, Bearish Triangle, Ascending Triangle, Descending Triangle, Bull Pennant, Bear Pennant, Falling Wedge, Rising Wedge, Double Top/Bottom, Triple Top/Bottom and Shoulder Head Shoulder.
In the last section of the module, Kishore teaches the various technical indicators that will later be incorporated into the trading strategies. This includes Moving Average (MA), MACD, Stochastic, CCI, RSI, Bollinger Bands, Parabolic SAR, ADX and Demarker Indicator.
Module 3 and 4 are the modules that most students will be looking forward to. It is the Spot FX Trading Strategies. In Module 3, Kishore teaches six trading strategies, each of which is suitable for different time frames and currency pairs. The strategies are Instant Pip, Pip Maximizer, Pip Retracement, Pip Breakout Explosive Profit, Pip Quantum Profit, and Pip Divergence. In Module 4, Kishore teaches two other strategies for news releases, i.e. Non Farm Payroll and Federal Open Market Committee (FOMC). Although the Non Farm Payroll is released on the first Friday of each month and the FOMC meeting is held eight times in a year, the profit potential on these trades can be significant, as the price can move hundreds of pips when these news are released. Each of these eight strategies is being explained in great detail with illustrative examples. A separate pdf manual is also included dictating the step by step execution of the strategies.
In Module 5, Kishore does a recap on all the lessons that have been taught from Module 1 to 4 above, and also conducted a short Q&A session with the students with particular emphasis on the trading strategies This is really useful as a refresher, given the amount of detail being learned in the first 4 modules, before proceeding to learn even more in the following modules.
In Module 6, Kishore teaches more technical contents, including how to draw trendlines using fractals, how to use Fibonacci ratios to find levels of support and resistance and a comprehensive lesson on pivots, including how to calculate pivot points and some useful pivot strategies to be used along with Fibonacci Levels and Parabolic SAR. The module then continues with Kishore introducing a different topic, i.e. Forex Futures. Note that everything he has taught from Module 1 till now is Spot Forex. The main difference between Forex Futures and Spot Forex is the time when the trading price is determined and when the physical exchange of the currency pair takes place. With Forex Futures, the price is determined when the contract is signed and the currency pair is exchanged on the delivery date, which is usually some time in the future. In Spot Forex, the price is also determined at the point of trade, but the physical exchange of the currency pair takes place right at the point of trade or within a short period of time thereafter. This topic could be too technical for some students, but it's an additional topic for those who wish to trade futures.
Module 7 is divided into two parts. In part 1, Kishore covers the strategies for trading the US Dollar Index and the related RYSBX and RYWBX. He then introduces the concept of "hedging" when trading Spot Forex by using a force open. Hedging is particularly useful when the market is very volatile such that the stop losses can get triggered frequently, leaving us with lots of loss trades. A force open allows us to enter the opposite side of a trade without closing the initial trade so that losses are minimized. The module then continues with another different topic by Kishore, i.e. Forex Options. This again can be technical and uninteresting as most students will be focusing on trading Spot Forex. But it's another additional topic which could be useful and can be added to one's knowledge base of trading. As usual, Kishore provides a comprehensive lesson, covering the advantages of trading options over the cash currency market, the different types of options including one touch option, no touch option, digital option, double one touch option and double no touch option, and the strategies for trading these options.
The last section on this part of the module is about Money and Equity Management. Here, Kishore explains the amount of capital that should be invested in each trade and how the trade sizes would change with different account sizes. He then gives a comprehensive guidance on managing your trades, including dealing with losses, planning entry and exit points, managing your emotions during a trade, and developing a realistic trading plan to achieve your desired goals.
In part 2 of Module 7 which is the final module, Kishore gives a practical guidance on using the MetaTrader 4 platform to analyze and enter trades. This includes setting up the charts, placing the different types of orders, inserting the various indicators and adjusting their settings and parameters, and all the other operational matters. He then teaches the use of his personally designed indicators (see the bonus section below) and does live trades with the students, showing execution of the different strategies he has taught. Kishore also introduces some brokers that students can use for both demo and live accounts, and shows a live step-by-step process of registering for an account together with tips on how to get an account approved quickly.
The entire course as described above from Module 1 to 7 is captured in over 12 hours of videos which can be easily accessed on the members area upon logging in. Although some of the topics being covered are quite technical, Kishore has done a great job in his delivery by using layman and simple terms. I do believe that even people with zero knowledge or experience in Forex trading should have no problem following the principles being taught, and more importantly, the step by step approach to executing the trading strategies. There is no option being provided to download the videos, but one can simply use a browser plugin to download them.
In addition, the lessons are also supported by pdf files, acting as manuals and guidances for easy reference. There are over 20 pdf files from the Complete Course Manual to the Strategies slides and technical indicators printshots right up to the Candlesticks Charting manual and MetaTrader Operation Handbook. To complete the list, there is also the MP3 version of the entire course for those who want to listen to Kishore's teachings, rather than watching the videos. Lastly, there are 7 more videos under the "Jumpstart" section in which Kishore provides an overview of the Forex basics and six of his trading strategies. These "jumpstart" videos are intended to provide a quick introduction to students such that they can apply those principles and strategies immediately.
That's just the main course contents. Now, let's look at the bonus contents. Although Kishore included these as bonus items, they actually form an essential part of the trading process, such that they critically supplement the process of putting the lessons learned into practice. Read on below about these bonuses to understand what I mean.
Bonus #1: Chart profiles
These are the chart profiles for MetaTrader 4 for each of the strategies taught by Kishore. For example, the Instant Pip strategy uses Bollinger Bands, Parabolic SAR, Stochastic, CCI, RSI, ADX and MACD. Instead of setting up the charts with these indicators and adjusting their parameters, simply put the downloaded chart profiles into the program folder and the preset charts can be loaded up. Even the colors of the charts are identical to those used by Kishore! These are extremely useful as students do not have to worry about making the wrong settings to the charts, but instead can focus on applying the strategies immediately.
Bonus #2: Trading Indicators
All members of Instant FX Profits are provided a range of indicators for the MetaTrader 4 platform that are designed to support the execution of the strategies taught by Kishore. In total, there are 13 indicators that can be used as trading tools or simply as guidance to enhance the execution of the trading strategies. These indicators are:
Buy/Sell Indicator
Extension Indicator
Scanner Indicator and Template
Instant Pip Profit Strategy Scanner
Pip Maximizer Strategy Scanner
Pip Breakout Explosive Profit Strategy Scanner
Retracement Strategy Scanner
Inner AutoTrendlines
Outer AutoTrendlines
Channel Indicator
Pivot Indicator
Sliding Lines
Candlestick Countdown timer
Each indicator has its purpose and Kishore has provided an explanation on how to use them in the main course (part 2 of Module 7 as mentioned above). My personal favorites are the Strategy scanners which will "scan" all charts for trading opportunities according to the chosen strategy. For example, the Pip Maximizer strategy applies when the price cuts through two Moving Averages. When this happens, the Pip Maximizer Strategy Scanner will lid up in green for a buy opportunity and red for a sell opportunity. This way, I do not miss any trading opportunity and do not have to monitor the movement on the charts all the time. However, the scanner does not give a sound alert, which means we would have to watch the computer screen for a trade signal. Perhaps, Kishore should update these indicators in the future to include a sound alert.
Bonus #3: Graduate Gathering 2009 & 2010
The Graduate Gathering is an annual event held in Singapore, in which Kishore's former students will participate to share their knowledge and experiences in trading the Forex market. In these video recordings, there are a total of 5 very successful students (they are Mona Mohd, Afida Aman, Bellum Tan - CEO of Rich Dad Asia, Raj and Dominic Silva) who all have amazing trading records, each with their own way of interpreting and trading the market, sharing exactly how they enter and exit trades. Although different in views, they all have one thing in common, i.e. they are using the same principles and strategies taught by Kishore. These videos are extremely useful as we are able to see how that same knowledge that we have learned in the course above (Module 1 to 7) is put to practice. I actually learned a few very effective trading tips from Mona and Bellum and incorporated them into my trading plan for better trading results.
Bonus #4: Tutorial from Lucas and Conrad
According to Kishore, Lucas and Conrad are two of his top trainers in Forex trading and Kishore was right. In these videos, Lucas and Conrad give a comprehensive and detailed tutorial on four of the strategies taught by Kishore, i.e. Instant Pip, Pip Maximizer, Pip Retracement and Pip Breakout Explosive Profit. A pdf manual is also included for every strategy being covered.
Note that Lucas and Conrad provided separate tutorial sessions, i.e. a tutorial session by Lucas on the four strategies and another tutorial session by Conrad on the same four strategies. To some, these may be tiring as we would have learned these strategies from Kishore in the main module. However, I personally find this interesting and useful as having the same strategies being taught by different tutors gives me a better understanding of their execution.
Bonus #5: Mona Live Trading Video
In these videos, again we have the opportunity to learn from Mona who is actually a very good teacher! In the Graduate Gathering, Mona gave a brief explanation on how she uses the Instant Pip and Pip Maximizer strategies. In this Live trading session, she focuses exclusively on Pip Maximizer and shares a trading plan that is extremely easy to follow, yet profitable to the participants. Ironically, her 9 year-old daughter has been following this plan and has made over $40,000 in three months! I have personally tried this on a demo and it really works. But in order to make serious money, you need to have a bigger account balance.
Bonus #6: Daily Alerts
In this section, Kishore provides a commentary on the market conditions and gives a trading alert (where applicable) based on his strategies. There is also information on the Dollar Index Future, RYSBX and RYWBX shares, the CRB Index, Oil and Gold. Personally, I only refer to these alerts as a check, as I can already identify trading opportunities on the charts together with the strategy scanners. These alerts are provided on a daily basis and can be downloaded in Microsoft Word format.
Other bonuses
In addition to the six bonuses above, there are also the Chatroom and Online Charting Website to be accessed by students. The Chatroom is a useful medium for Instant FX Profits students to discuss their trading activities and can also be used to ask any questions related to Forex trading. The Online Charting Website is a site that provides Forex news, currency forecasts, economic calendar, Forex charts and many other essential information that are useful for trading.
There are also more videos of other events such as the Forex Championship, in which the winner shares his method of trading the market and other useful tips, and also tutorial videos on six of Kishore's strategies in the Chinese language.
Finally, there is a list of recommended brokers with links to open both demo and live accounts with them, and some having trading credit bonuses as well.
There is also an "Update" section where Kishore will provide the updated materials for this course. At the time of this writing, I have five updates added to the list, i.e. Updates for candlestick patterns, fractals, FOMC strategy, candlestick charts course and Instant Pip strategy. Other than these, the main course is also updated as Kishore conducts these workshops every year. In fact, there are two versions of the main course in my membership area, i.e. the 2010 and 2011 versions. The information provided above about the 7 modules is from the 2011 version.
At the time of this writing, I have been using this trading system for 9 months. Here is my trading routine. I only use the Instant Pip and Pip Maximizer strategies as they suit me well. With Instant Pip strategy, I can make an average of 4 trades per day on the EUR/USD M30 charts with profit of approximately 15 pips per trade. With Pip Maximizer, you don't get trades everyday. On average, I make 3 trades per week with an average of 70 pips per trade on the EUR/JPY H1 charts. That's a total of approximately 2,000 pips a month. As I start with a measly $1,000, I only enter one mini contract per trade. This gives me around $2,000 per month. Following the advice of Mona in the Graduate Gathering event, we do not have to strive for more pips. Instead, we just have to increase our contract size. For instance, by increasing my trade size from one mini contract to two, I would have been making $4,000 a month and so on.
With a realistic target, I am able to trade more confidently but I have also been testing and practicing these strategies on a demo account for almost 4 months, making hundreds of trades, before moving on to a live account. I have found that the key to success in Forex trading is to have patience, consistency and persistence. By sticking to a proven trading system for a long time such that you are really comfortable with the way it operates, you will eventually see the results unfold.