Master Trader Workshop | Live Trading | Index and Forex Trading

Futures and CFDs
Although I will be trading Forex during the Challenge please understand that my methodologies are also suitable for trading currency futures and CFDs. So if your preference is to trade either futures or CFDs or margin FX then my Workshop will also be suitable for you.

Who
Should Attend?

Confidentiality
Agreement

NOTE: Traders are required to sign a Confidentiality Agreement if they wish to attend the Workshop.

Payment: AUD5,5000 (inc gst)

If your preference is to pay via a direct bank deposit please email me bpenfold@tpg.com.au & I'll send the appropriate details.
Sydney May 29th/30th	Completed
Brisbane: June 26th/27th	Completed
Melbourne: July 31st/ Aug 1st

Feedback & Testimonials

Frequently Asked Questions (FAQ)

If you have a question please feel free to email me at: bpenfold@tpg.com.au

Note: Workshop strategy results are shown further down this page.

Forex is the largest and fastest growing market in the world. It is also one of the best to trade. With 24-hour trading, deep liquidity, good volatility, multiple trading platforms and easy internet access Forex is fast becoming the market of choice for the private trader. Never before has the private trader had access to such a competitive and attractive market to trade. A market the pros engage with and trade every day.

Professional Traders dominate the forex market. When you decide to trade forex you unconsciously make two decisions. One, you have consciously decided to trade in the worlds largest market. That’s good. And secondly, you have unconsciously decided to trade against the biggest and the best professional traders in the world. That’s bad. The pros are professional for one reason, they win. And that’s bad news if you are on the other side of their trades! To succeed in forex you will need to learn how to trade like the professionals. If you wish to compete successfully with the professionals then you will need to know what they know. You will need to know effective trading strategies and you’ll need to have the confidence and discipline to consistently follow and execute your trade plan regardless of any emotional turmoil you may be experiencing. This is how the professionals trade forex.

In the Master Forex Challenge Workshop I will be teaching attendees how to trade like the pros. During the Workshop I will teach attendees not six but seven of my winning forex strategies. For each strategy attendees will learn the exact rules for when to trade, where to enter, where to place stops and where to exit. They will learn how to calculate the correct position size given their account size. They will learn how to prepare professional trade orders.

90 Days of Live Trading will follow the Workshop where attendees will have 90 days to watch me trade my strategies. They will see their teacher walk his talk. They will watch their teacher trade. They will watch me trade as I attempt to meet my Challenge of turning $10,000 into $20,000 within 90 days placing small sensible trades consistent with my small $10,000 account size. They will watch me trade consistently, conservatively and sensibly to demonstrate how traders with small accounts can succeed. To my knowledge, I am the only trader who will not only teach you the theory and techniques, but who will also allow his Workshop attendees to watch him trade live for 90 days executing proven strategies with real money, in real time and in real markets. Attendees will learn how I treat my forex trading as a business without the emotion that usually sabotages most traders. Attendees will see how my rule based strategies are 100% objective and do not require subjective interpretation and judgment. The live trading will re-enforce attendee’s knowledge and application of each strategy. Attendee’s will learn how one hour of preparation each day will prepare them for success in forex trading. Attendees will learn how repetition over 90 days of live trading will reinforce their new knowledge, create new powerful trading habits and create new confidence to set them on the path towards trading success.

How the 90 Days of Live Trading will Work

Forex is a market that never closes except for weekends.

It's the world's largest market with many, many forex providers (brokers) offering various trading platforms to allow their clients to trade forex (or Margin FX ... it is a little confusing where you see so many names referring to the same thing).

Forex providers have to arbitrarily pick a time to "close" and "open" their daily bars. This isn't easy given forex trading is primarily electronic where a forex provider can have clients all over the world waking and trading at all different times. What may suit a good "opening" time for one trader could be the middle of the night for another.

Most forex providers will pick a time +/- around GMT (Green Mean Time).

It appears most forex providers will close their daily bars within one to two hours of GMT. This translates to either 7:00am or 8:00am Sydney time (5:00pm or 6:00pm New York time).

For my live trading I will be sending out a daily email detailing my trading intentions for the next daily bar (or next 24 hour cycle). My trading intentions will be according to the six strategies and money management technique I will be teaching. The daily email will include the currency pair/s I intend to trade, the relevant strategy/s involved, my position size/s according to the money management technique, my entry, stop and exit levels (when appropriate). The daily email will also summarise fills from the previous 24 hour trading period, my open positions and trade management instructions (stops and exit instructions where applicable).

If my forex provider "closes" their daily bars at 7:00am Sydney time it will be my intention to send out my daily email between 7:00am and 7:15am Sydney time. The daily email will outline my "live" trading intentions for the next 24 hours. Since I'll be pressed for time my morning emails will not include any illustrative charts. They will only include my "live" trading intentions for the next 24 hours.

During the day I expect to receive attendee emails with various questions about my orders, the strategies etc, etc. I will answer those in a group email so everyone benefits. Those emails will include illustrative charts where appropriate since I will have more time.

Attendees will be able to print out my morning emails to firstly reconcile they have correctly understood the strategies (and making sure, I hope, that I'm following my own strategies correctly ... I have been known to make mistakes now and then). And secondly to watch how I'm going during the day as they watch their forex providers live prices. They'll be able to see how my orders are developing, see where they are being triggered and watch how they're progressing. They'll see where I get stopped out and they'll see where I'll take my profits. They' know all of this off my morning emails. They'll be able to print it off and then watch along as they see my orders being triggered and being "live" in the markets. They'll see how the trading Gods will treat my position/s. They'll see how I manage my positions.

This is how the 90 days of live trading will work.

You’ll Gain seven powerful forex trading strategies. Two for short-term trading, three for medium-term trading and two for long-term trading. By watching me trade live for 90 days you will learn how to eliminate fear and hesitation from your trading. You will learn how to establish the discipline necessary to follow your new strategies and you will learn how to develop good trading habits. You will learn how to gain the strength to take your losses without wavering. You will learn how to eliminate fear, doubt and hesitation. You will learn how to avoid over-confidence and the dangers associated with it. You will learn how to maintain discipline and consistency. You will learn how to live within the reality of your new trading strategies. You will learn how to become a successful forex trader.

Learn Secrets Long Held by Professional Forex Traders. You'll learn not only how, but why professional forex traders trade the way they do. You'll learn they trade multiple strategies over multiple timeframes. You'll learn trading a portfolio of strategies over the five main currency pairs against the USD will smooth out your equity curve. You'll learn that not all strategies across their individual timeframe can make money all the time. You will learn that all strategies at sometime experience drawdowns (losses). However, you'll also learn that although one strategy can experience a losing streak another strategy can also be enjoying a profitable run. You'll learn how trading a basket of strategies over your currency portfolio will deliver smoother results.

Learn How To Trade While Still Working Full Time. You'll learn how to trade like a professional while still maintaining your day job. You'll learn how to trade without having to sit in front of your trading screen 24 hours a day. You'll learn how one hour a day will allow you to identify your trading opportunities. You will learn how to professionally prepare complete trade orders with entry, stop and exit instructions. You'll learn how to "enter, set and forget" your orders into your trading platform. You'll learn how your trading platform will execute your trades while you're at work. You'll learn how to trade smart.

Update: June 2010
Previously I had scheduled to teach two day trading strategies I use for day trading currency futures. Since these strategies are less effective on forex I have elected to replace them with an extra medium-term strategy (KS) and two long-term strategies (KA and KR).

Special Workshop Features
Strategies
Learn the complete rules for 7 powerful mechanical forex trading strategies.

Short-Term Trading
      #1   TWE
      #2   FCB

Medium-Term Trading
      #3   KLR*
      #4   DRP
      #5   KS

Long-Tern Trading
      #6   KA
      #7   KR

For each strategy you will learn;

      - when to trade
      - where to enter
      - where to place stops
      - where to take profits

[*Note: KLR is my medium-term trend trading forex strategy Key Level. KLR refers to Key Level Retracement. Unfortunately there will be no discount available to owners of Key Level who wish to attend the Workshop. I've made this decision as I personally believe that just learning two of the seven strategies, let alone learning all seven, combined with 90 days of live trading is unbelievable value at only AUS5,500.]

Money Management
Learn an effective money management technique that I will use in my attempt to meet my challenge to trade a $10,000 account to $20,000, a 100% return. Trading conservatively and consistently placing small sensible trades. Receive an excel spreadsheet to professionally calculate trade risk and correct position size.

Learn how to manage your risk-of-ruin by learning how I will be managing my own personal risk-of-ruin during my live trading challenge.

Psychology
Learn an effective approach to trading psychology.

90 Days of Live Trading
Spend 90 days watching me trade live the 7 strategies you'll learn in real markets with real money. After 90 days of live trading you will learn how to trade;

      - without fear
      - without doubt
      - without hesitation
      - without mistakes
      - with confidence
      - with discipline
      - with rules
      - with profit

Confidentiality Agreement
Traders wishing to attend will be required to sign my Confidentiality Agreement. I require this as I value my strategies. If you would like to attend you can download a copy at the following link.

Confidential Agreement

Learn Seven 100% Objective Rule Based Strategies
Attendees will learn seven simple 100% objective rule based trading strategies covering short-term trading, medium-term and long-term trading. These rule based methodologies are 100% mechanical trading strategies that do not require any interpretation or judgement. A set-up will either exist or it won't. Attendees will walk away from the Workshop with a portfolio of seven strategies to begin trading forex with both confidence and profits.

Below you'll find the hypothetical performance results for each strategy where a single trade size is traded per set-up. The money management technique I will be teaching have not been applied. And please understand that past hypothetical results do not indicate future success. As I said no money management strategy has been applied, only a single position/trade size has been used per set-up/strategy signal. The results are in AUD with AUD50 having been deducted for brokerage and slippage. The strategies have been run over a portfolio containing the five main currency pairs against the USD. The following trade sizes were assumed for each trade and the results cover the period from 1991 to June 2010. The only exception is for the EUR/USD which came into existence in 1991.

As you'll see from the results below the strategies have (hypothetically) been very effective over the test period and for those of you who trade the CME (Chicago Mercantile Exchange) currency futures you will recognise the contract trade sizes above.

Update: June 2010
Previously I had run my strategies over proxy forex data I created using CME's futures contracts. By filling in the gaps to make true range bars I managed to create a proxy for forex's 24-hour market going back to 1971. The following performance figures are based on actual forex data courtesy of Premium Data http://www.premiumdata.net/. The data goes back to 1991 for the four main currency pairs and 1999 for the EUR/USD when it came into existence.

These strategies are both simple and effective and do not require any sophisticated software to trade. Attendees will learn how these strategies can easily be traded with just an excel spreadsheet and access to multiple timeframe charts. As I said these strategies are simple. Being simple makes them 100% objective. Being simple means they do not require any subjective interpretation or judgement from the trader. Being simple means they are robust. Being simple means less can go wrong. Being simple means these results are easily verifiable by those traders who are prepared to do the work to independently backtest the strategies and verify their individual expectancies.

But being simple doesn't make them perfect.

But then there is no such thing as “perfect” in trading.

Although my strategies are simple to understand and learn, they're not easy to trade. They do lose and they will bruise you. But at least they are real. And being real makes them verifiable. Verifiable, real and simple strategies. Strategies that have not been curve fitted to historical data using a multitude of indicators. Strategies that between them only use one indicator - a 200 day moving average. The five strategies DO NOT contain variable dependent and optimisable indicators. These are all real, verifiable and simple strategies that have an edge. Attendees will learn one secret to successful trading is to keep strategies simple. Simple makes it real. Real engenders robustness. Robustness engenders longevity. Longevity engenders forex success!

FAQ

In Summary
By attending the Workshop you will commence the establishment of your own trading business. You will walk away with not just one or two trading methodologies but seven. You will have a ring side seat as you watch me trade live. You will enjoy a live trading program never before offered where you can engage in dialogue with a professional trader. You will commence your ascent to becoming a successful forex trader.

To attend you'll need to print, sign and have witness the Confidentiality Agreement and either mail or email it depending on your preference. Your payment will then confirm your place. If you would like to ask me a question please send an email to bpenfold@tpg.com.au with "Forex Challenge" in the subject line and I will reply as soon as I'm able to.

I look forward to helping you achieve your trading goals by showing you how I trade and then allowing you to watch and trade with me for 90 days live!

Yours sincerely,

Brent Penfold
Futures Trader
Futures Adviser
(ASIC AFS Licence Number 225946)
Sydney, AUSTRALIA

Contact: Email bpenfold@tpg.com.au
Phone +61.2.9798 7428

Brent Penfold is a full time trader, author, educator and licensed Advisor. He began his career in 1983 as an institutional dealer with Bank America and today specializes in trading forex and global indices. Brent is the author of the best selling books Trading The SPI (Wiley 2005) and The Universal Principles of Successful Trading (Wiley 2010) and is profiled in John Atkinson’s e-book The Stock Market Wizards of Australia. His new books, Trading with the Hidden Dragon and Forex Trading Made Profitable are due for release in by John Wiley 2010 and 2011. Brent publishes daily newsletters for active Forex and Index traders and is a popular and sought after international speaker who has presented to traders throughout the Asia Pacific region in Australia, New Zealand, Malaysia, Singapore, Hong Kong, Vietnam, Thailand, India and China. Brent is a licensed futures advisor (AFSL 225946) and holds a Master of Commerce (Finance) degree.