1. Can I use this if I have never traded before?
Of course you can. We have explained everything with the novice in mind. The steps to finding a trade are very simple and are visual on the chart. Even though it is not needed, we do also include basic technical analysis information for your education. If you are an existing trader then you will feel at home very quickly.
2. What do I need to trade with BullPips?
You will need a broker to place trades with. We provide a list of reputable brokerage companies in the BullPips documentation, some of which provide very good spreads and cash-back facilities on your trades to further maximise your finances!
You will also need the MetaTrader 4 platform from Metaquotes SOftware Inc. Again the list of recommended brokers we provide all use MT4, however if you already have a broker which does not use this trading software then you can always open a demo account to determine trades and place your trade with your existing broker in your own software or browser.
3. Why do I have to use Metatrader 4? Can I use another platform like NinjaTrader or TradeStation?
The two indicators we use with BullPips (non-lagging by the way) are coded for use with Metatrader 4 and will not work with other platforms. It is possible the indicators are available for other platforms in which case you can use them, however we do not provide them. Alternatively you can get them coded by a third party if you desire. It is something we are looking at supporting for the future, however at this time you will need MT4 to determine your entry points. Of course you can then enter trades on your platform of choice.
4. How much money will I make?
While we provide a profitable trading strategy, answering that question is literally impossible. It is totally dependant on your starting capital, the size lots you trade with and your ability to follow the rules.
If you follow rules then your trading bank should see a very positive increase.
5. Is this strategy difficult to use?
No quite the opposite. It is very simple. The rules are laid out in easy-to-understand English with many image examples. Over time you will get very familiar with it and will be able to determine trades in seconds.
There are a number of technical indicators added to your chart which calculate Fibonacci number sequences, a multiple CCI (commodity channel index) and a couple of moving averages. The eagle-eyed among you may have noticed what looks like a multi-timeframe histogram. This is in fact multi-fibonacci settings of the same timeframe, not multi-timeframe and is unique to BullPips.
6. Are there any further costs involved to me after I purchase BullPips? A monthly subscription for example?
No. Once you have purchased the BullPips method, it is yours to trade with indefinitely and you will not incur any further costs. There is not subscription.
The only other expense you will have is the trading capital required to trade. For new members this can be as little as $200.
7. Is this an EA? Is it automated?
No. The Bullpips strategy is not an EA (expert advisor) and it is not automated. You will be required to open and close your trades manually. Of course stop loss and take profit limits can be set automatically with the MT4 platform however.
8. Would it be possible to have 1 on 1 training if I get stuck?
We provide full support and the BullPips strategy is easy to use, however if you do get stuck we will guide you personally through email until you are 100% confident in trading the system. 1 on 1 training really should not be required.
9. Can we contact you direclty by phone?
We prefer email due to time constraints and we can reply in our own time that way. Remember we are trading ourselves and must montior our own charts to avoid missing trades. Skype is available to members only.
We may take telephone calls in the future but at the present time our resources and time are limited. That and chat rooms are two areas we are looking into.
10. I am not familiar with Metatrader 4. Do you provide support for that?
Yes we give support to those needing it, however we also fully explain everything you need within our guide.
11. Does BullPips use the M15 chart? Is that not too volatile to profit from?
Yes we use the 15 minute chart. It provdes excellent entry signals and while it can be volatile around news items it profits over time – “If it ain’t broke – don’t fix it!”.
For those of you who prefer longer term trades, the strategy can also be applied to M30, H1 and H4 charts with success also.
12. Why do you not post past results?
As any of you who have traded before will know, getting the same results as other traders is almost an impossible feat. This is true even when trading the exact same strategy. There are many factors that come into play in the financial markets that affect peoples results as people also have different trading styles, trade different sessions, comfort zones and tolerance to risk with different stop loss and take profit limits.
While we believe BullPips to be one of the easiest and rewarding trading strategies available it is a fact that different traders using it will have differing results to others. Over time each will be profitable if the trader has executed the strategy correctly, though profits gained will vary. This should be of no concern to you however as to become successful you should not focus on the income and rather on your trading. That way the money takes care of itself.
Additionally, many vendors of trading strategies online unfortunately falsify and doctor images of account statements to try and sell more products. We further decided to not include any statements or guarantees of earnings to avoid being labelled in the same boat and also to avoid giving people very high expectations. We do however post daily charts of the strategy on the blog.
This is an honest trading method and aims to build an honest trading community. If you feel that you cannot join us without viewing images of statements then we suggest you try elsewhere and we wish you good luck!
13. You mentioned a trading community – where are the other members?
Currently we only have the blog for members to communicate between, however we are intending on having a dedicated member forum in the future.
14. What sessions can I trade with BullPips?
You can use all sessions. The Asian session, European/London and New York/US. You can therefore trade at any time in any location. The Asian session tends to be slow however due to lower liquidity and we recommend the London and New York open as the best for price action.
15. Will I need to pay for a data feed?
No. Most MT4 brokers provide the feed for free. If yours does not then please contact us.
16. Do you trade the news?
It is up to you if you avoid trading around important news items. Personally we do not pay much attention to them.
17. What stop size do you use?
This varies with each trade. A full explanation on how to calculate your stop is given in the guide. The maximum liability on a M15 trade is about 50 pips. 20 to 30 pips is typical.
18. What markets can this be traded on?
You can use any currency pairs, stocks, precious metals or other market that your broker provides. We use the major currency pair spot markets.
19. Is there any guarantee?
Yes we offer a full money back refund guarantee.
20. What is included when I pay?
You will get the unique multi-CCI indicator with the BullPips fibonacci number sequence settings, the RF finder indicator, the BullPips strategy guide showing you exactly how to trade the method with chart entry and exit examples and the BullPips supporting document showing you how to set up Metatrader, the indicators and more information.
We decided to add a supporting document so that the traders with experience didn’t have to read about lots of things they already know. They can simply read the strategy document and get trading. At the same time we wanted to include all information so that new traders can get set up easily and quickly also.
Please note as the community and website grows our members will receive much more trading resources in the future free of charge. Updates will be sent to those on our email newsletter.
21. Anything else I should know?
Yes. Keep in mind that trading is a totally unpredictable method of investing. Even though BullPips gives you the edge to profit over time, you will have losing days and maybe sometimes losing weeks. Please do not think that this is some magical system that never loses, it is not. The strategy profits over time and requires that you pull the trigger through thick and thin. The strategy is only part of the picture, your actions are the rest and it is your responsibility to trade the method as laid out.
22. I have another question not answered here…
23. How do I join?
Click ‘Add To Cart’ below and take it from there. See you on the other side!