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Frequently Asked Questions

What is a trading system?

A trading system in this sense could mean your 'edge'. What do you have that you think will bring you money in the markets? A trading system is your strategy, your approach, your method which guides you when to buy or sell a commodity. In The Part-Time Currency Trader p144, Marquez wrote that a trading system is "a set of specific rules that will tell you how you should open and exit your trades".

Most novice traders do not have a system. They do not even know they need one. They open and close trades based on 'gut-feel, hope, fear, greed and make believe'. More experienced traders, on the other hand, have their own individual method, style and strategy which tells them how and when to open and close trades.

Why is it important in trading?

"Consistently-successful people in any endeavour have tested systems that they follow consciously or subconsciously...In conducting a sales presentation, a professional salesperson follows a system that guides him away from confusing and agitating a potential customer. A mechanic knows the fastest and easiest way to repair an engine. Even in your daily routine, you have a system to do the simplest of tasks...If you are trading based on gut-feel, hope, fear, greed and make-believe, you will keep making losses..."

— Excerpt from the The Part-Time Currency Trader, p144.

In other words, a trader needs to have a logical system or procedure to trade effectively. A trader without a strategy will more than likely lose money trading the market.

I don't have a trading strategy. What should I do?

You have four options:

1. You devise your own trading system.

2. You buy a trading system.

3. You subscribe to a trading system.

4. Let someone else trade for you.

How do I go about creating my own trading system?

It would be excellent for you if you are able to create your own trading system. The benefits of having your own trading system are endless, including having the control and the power to manage your own investments. The problem with trying to create a trading system that works is that it usually takes years of dedicated focus, study and shear hard work. And if you are not careful, it will cost you a lot of money too.

Marquez Comelab took six years to understand the concepts and learn the skills he uses to develop the trading strategies he uses now. Other traders like David Silverman, a long-term member of the Chicago Mercantile Exchange took three years before he had any degree of success in the markets. Robin Mesch, chief of fixed-income technical analyst for Thomson Research, took 12 years to develop his method. Bill Williams, Ph.D, founder of the Profitunity Trading Group took 30 years! It is not easy. That is why most people give up.

— Facts source: The Day Traders Advantage by Howard Abell. Published by Wrightbooks in 1996.

Nevertheless, you may still decide to learn how to build a trading system to suit your own personality. Get yourself a copy of The Part-Time Currency Trader book. It guides you through process to help you develop your own trading methodology. > More.

Why would someone want to share their trading system with other people? Shouldn't they just trade it quietly and grow their account that way?

Raising capital is one of the biggest reasons why individuals and companies share their systems. They need the money to trade bigger position sizes, enlarge their businesses and trade other markets. Without this reality, most people who are unwilling or unable to develop their own profitable trading system, will never have the opportunity to profit from the markets.

More often than not, novice traders who join this game have an unrealistic expectations about how much money they can make from trading. They hear or read stories about superstellar rags-to-riches stories about certain traders and so they believe that anyone who trades must have such good fortune. So what do they do? They would trade aggressively mostly because they do not fully understand the impact of position sizes to their trades. They would risk big chunks of their trading accounts hoping that they make a phenomenal gain if the next one is a winner. However, they risk wiping out their accounts if the next trade is a loser.

In reality, most professional traders only make between 1% to 20% a year... if they are profitable. Even one of the best fund managers like Ed Seykota average 'only' 60% a year (Source: http://www.turtletrader.com/trader-seykota.html, 30 April 2006.) An annual 60% return is impressive and is difficult to achieve but even with this rate, it would indeed take a long time for a small account to grow to a reasonable size. If you are lucky enough to make 20% a year, a $2,000-year return on a $10,000 trading account is barely enough to live on.

From whom and where can I buy a good trading system?

Trading systems are sold primarily as the logic behind any trading software which tells its user what to trade, how much to trade and when to trade. Usually, there is little input required by the user. They come in two types: 'black box' and 'grey box'. The strategy behind Black box trading systems are hidden from the user. The user does not know how the software arrives to its trading recommendations. The vendors of 'grey box' trading systems on the other hand inform the customers how the software works and usually, users of these type of systems can modify certain variables of the trading system.

Is it better to buy a trading software that tells me what to buy or sell or is it better to subscribe to trading signals?

The disadvantage of buying trading systems is that most trading systems become obsolete: they stop working when market conditions change. Most trading systems are expensive. It would be terrible for a trader to have bought a costly system which happens to just stop working.

In this regard, the subscription model seems more viable. A trader can stop subscribing to a system if it has stopped working. Subscription therefore, is a good way to manage and control trading costs. At the time of writing, most trading signals subscribe for around $200 US dollars a month to trade 2-4 currency pairs. Many offer you a free trial for a week or a month just to see how they deliver the signals and whether you can follow it or not. You can follow their buy and sell signals using a demo or a real account and if you find that it works, you can continue using it. If you do not think it is a system for you, then you stop your subscription. This limits your costs and avoids you investing a large amount of money in a system that no longer works.

How does subscribing to a trading system work?

You would subscribe to a newsletter or a signal service of a trader who would tell you what his or her trading strategies are for the near future. You, along with other subscribers receive these newsletters or trading signals via email, sms or through a secure webpage.

What are the benefits of subscribing to a trading system?

Arriving at a viable trading method requires great sacrifices to acquire all the necessary skills, knowledge, discipline and experience. People lose a lot of money in the process so most people give up. The biggest advantage of subscribing to a trading system, as opposed to creating your own, is that if the trading system is working, you actually have the means to make money from the forex market immediately.

I cannot be bothered learning how to trade or doing the actual trading. I would rather have someone else trade my account for me. How do I let someone else trade forex for me?

Please see FXManager with Marquez Comelab.

Does Marquez have a trading system he is willing to share by subscription?

Yes.

Prior to an impending holiday, Marquez came upon the idea of a weekly trading system which would allow him to trade without spending hours watching every movement of the market. It would provide for a more relaxed lifestyle and more time could be allocated to do more research or other things. Unlike fast-paced intra-day trading, weekly trading signals are something that other traders can subscribe to. There is enough time for Marquez to send out the signals and for subscribers to consider his strategies and place their orders with their brokers. The Galileo Trading System — as Marquez calls it — took more than a year to develop and began trading on September 15, 2007. Here are its details:

How does this compare with other systems?

We at MarquezComelab.Com understand full well that in trading, systems and methods are only as good as their numbers say. So we do not "fluff up" or try to sell you the results. Instead, we just show you how the system had been performing thus far, and we leave it to you to make your own assessment. You can look at the performance of the system by clicking here.

A NOTE ABOUT LOOKING AT PERFORMANCE STATISTICS:

Hypothetical trading results have their use but what is most important when you are considering a trading signal service is ACTUAL and CURRENT trading results. Quite often, other trading signal providers just show you hypothetical test results done on past data. Anybody with trading software and knowledge of trading system development can produce very impressive simulated results. Quite often, however, most systems do not perform as expected because of the fact that the market's past behaviour does not equal its future behaviour.That is why many service providers are not too eager to show you these results. Many of you who have bought trading systems or subscribed to trading signal services can attest to this.

Before you commit to a trading signal service, you need to perform what we call an INTEGRITY TEST. What you need to do is to subscribe to the system, trade its signals and at the end of the trial period, see if the result being reported is very close to what you got. Even if you continue to use the service, do an INTEGRITY TEST ever so often.

By insisting on ACTUAL CURRENT RESULTS and by performing an INTEGRITY TEST, you will avoid wasting time and unnecessary losses.

How much do I need to navigate the market with your system?

The size of your trading account you need to trade The Galileo Trading System would depend on a few things including the following:

• Leverage level your broker provides (the more, the better)

• Minimum trade size your broker offers (the less, the better)

• The factor by which you wish to magnify gains and the risk you are willing to take.

We do not make suggestions or recommendations in this regard because it is up to you to evaluate and decide how many currency pairs you want to trade, your desire for equity growth and your tolerance for risks. We can simply let you know that the accounts that Marquez is using for tracking the performance of the Galileo Trading System are opened with a broker that offers a maximum leverage level of 50 and a minimum trade size of 1 unit of a currency pair. These accounts each began with $1000 Australian Dollars balance.

I manage funds in a sense that people invest their money for me to trade. Can I use your systems to trade their accounts or is there a higher fee for using your service this way?

There is no higher fee for using this signal service for using these systems to trade your client's funds. The profits and losses are yours. However, if you have a business that invests or trades other people's money, you must not give them the impression that you are in a partnership or in any other form of affiliation or relationship with Marquez Comelab other than the fact that you merely subscribe to his trading system/s.

Likewise, for members of the general public, it is important to know that at this point, apart from providing subscriptions to his trading strategies, Marquez Comelab is not in partnership, affiliation or legal relationship with other individuals or corporations regarding any of his trading systems and strategies.

Please contact admin@marquezcomelab.com regarding any business-related propositions.

Can I use your signals for any other commercial purposes?

Yes. Specifically, you may re-sell our trading signals. You can create your own subscription-based trading signal service, and re-sell Marquez's trading signals. However, in doing this, we require the following:

1. You CAN choose NOT to disclose that the trading strategies are that of Marquez Comelab's. However, you CANNOT claim that the signals are yours or someone else's.

2. You cannot use our actual and hypothetical results based from the results we used here. You must gather your own trading results by trading the system's trading signals using your own account. You can therefore communicate your own results to your customers.

3. We recommend that you DO NOT make superfluous claims or guarantees as to future returns apart from those you can actually calculate based on actual trading results.

Remember to consider other legal and operational issues relevant to your business in relation to this type of arrangement.

No other terms and conditions are implied in this arrangement apart from those that apply to any ordinary subscriber. If you would like to modify the terms and conditions in the way you are to be supplied Marquez's trading strategies, please email admin@marquezcomelab.com and we will be happy to discuss ways in which we can work with you.

I do not know anything about trading forex, can I use this service?

To practice trading using a demo account with a broker, you may use this service. It will be an invaluable aid to your learning. If you wish to use this service to trade real money; however, you are expected to understand at least the basic concepts of trading forex. If you do not know what a 'pip' is or what the words 'trade size' mean, then you are urged to educate yourself further before trading forex.

In the future, Marquez might offer courses and training programs to help beginners. For the moment however, he offers help through his book: The Part-Time Currency Trader. It is precisely for anybody wanting to learn more about trading the forex market. It goes further from the basic concepts, it takes you through how to develop your own trading methodology to help you develop your own strategies.

Instead of subscribing to the system, learning about forex and how to put on trades and such, you might just prefer to attach your trading account to Marquez's trading account so the trades are performed for you automatically! For more information, please click here.

How is the information regarding Galileo presented? Can you give me a demonstration of how it all works?

You can also watch a video demonstration of how to trade the forex market using the Galileo Trading System and the tools provided on this website. You can watch it the Youtube version below
OR you can download the WMV file for more resolution >> Click here.

Can you show me a practical example of how to access your strategies to putting trades to your brokerage account?

Here is a two-part tutorial. You can view them now in Youtube by clicking on the images below, or you can download the WMV file to have more resolution.

Part 1 of 2: Download the WMV file: Click here.

Part 2 of 2: Download the WMV file: Click here.

What happens if I lose money using your trading strategies?

Unfortunately, risks always follow rewards. In almost all endeavours, the higher the expected reward, the higher the risks involved. This is the reality of any business and it is very true in trading. Understand that nothing in this website is a guaranteed, 100%, sure-fire way to profit from the market. As traders, investors and business people, we all have to trade at our own risk...until that momentous day when we find an insurance company willing to insure against trading losses.

NOTHING IN THIS WEBSITE IS A RECOMMENDATION FOR ANYBODY TO BUY OR SELL ANYTHING. THESE SIGNALS ARE MERELY INFORMING YOU OF MARQUEZ COMELAB'S TRADING STRATEGIES ON A PERIODIC BASIS. WHAT MARQUEZ TRADES AND HOW HE TRADES THEM MAY NOT BE RIGHT FOR YOU. PLEASE READ THE DISCLAIMERS PAGE: CLICK HERE.

What can I do to minimise my losses while trading?

The best way to find out whether any system is suited for you is to test-drive them. Open a demo account with a broker and see if you are able to follow the trades. This way you find out the answers to the following questions:

1. Do you have the discipline to follow the trades?

2. Can the size of your intended margin account withstand the losses?
Professional traders stand to lose no more than 2% of their accounts if they lose. Can you do that? If your starting account is so small that you are forced to risk more than that per trade, are you willing to accept that risk? If you have a small acount then you should consider trading small trade sizes. Standard trade sizes are 100,000 units of a base currency. Mini trade sizes are 10,000 units of a base currency. There are some brokers allowing micro trade sizes of 1,000 units. There's one broker who allow traders to buy and sell as little as 1 unit of a base currency! By trading small position sizes you reduce the dollar value of your losses.

3. Can you mentally withstand the losses?
If you find that you are getting really excited when you win and getting really depressed when you lose, then you should consider reducing your trading size and buy and sell less units of each currency until you are no longer emotionally affected by the results of each trade.

4. Did it work?
A trading system does not work all the time and is bound to have its losing periods. How long will you give a system to work? If it does not work within that timeframe, then perhaps you should consider stopping your subscription. After stopping your subscription however, check ever so often to see how the system performed afterwards.

If I follow any or all of your systems you make available for subscription, how long does it take for me to start making money?

We do not want to make promises as to how the market will behave or how Marquez's systems will perform. We provide you with data and information gathered from system tests and how the systems themselves are progressing, however, ultimately, it is up to you to derive your own conclusions from them.

The hypothetical model of each system's performance is provided. The test results are provided not as a promise of how much the systems will make in the future. They are only provided for Marquez and anybody interested to compare actual trading results with the test results to find out whether there is a variance between the two. A variance may indicate that the trader is not following the system/s closely enough or that the systems, themselves, are trading better or worse than expected.

The records of the trades for each trading system however, are made available on this website. The TRADE RECORDS include the date, the entry price, the exit price and the profit or loss of each trade. You may grab the figures and run statistical analysis on them to try and project how much you think can be made from these systems.

What happens if I make money using your trading strategies, do I have to share my profits with you?

We, at MarquezComelab.Com, hope that our trading signals help bring you success. And no, you do not have to share your trading profits with us. All the profits you gain from trading the markets with our signals are yours to keep and use as you please. Enjoy!

I do not know how to begin. What are the first steps?

The best way to find out is to trial what is being provided. It is free to trial it for seven days.

First, subscribe to Marquez's Galileo weekly trading strategies. You get a week's free trial. Once you get your username and password, you log into our Member's Section. Members have access to information regarding what Marquez is buying or selling this week. There is also an automatic trade-size calculator that automatically calculates the number of units a trader should trade if he follows Marquez's formula of sizing his trades. There's also important forex trading information there including discussions on stop losses, the value of a pip, position-sizing, etc...

Before your trial week is over and you've had a look as to what is provided and you decide it is not for you, you can unsubscribe before any payment is taken out from your Paypal account. You can stop your subscription at any time by logging into your paypal account or by pressing the CANCEL SUBSCRIPTION button at the bottom of the SUBSCRIPTION PAGE.

• You subscribe to the systems by clicking here >> Subscribe.
• We create your log-in username and password and email these to you.
• We give you approximately a week to see how it all works. You can cancel your subscription any time. No money is taken out from your account until the trial period is over.
• If at any point, you want to unsubscribe, you can do so. We will stop your subscription when the current subscription period is over.