Loading ...Regular Membership and Live Trading Room
ByHello everyone,
I’ve received a number of emails asking about the difference between the regular Pip Mavens membership and the Live Trading Room membership.
Here is the feature breakdown of each:
- All currency pairs will be discussed, but with a special focus on the EUR/USD.
- Hosted by Chris Lee
- Trade setups and Trade monitoring will be discussed in post format (words and pictures – as in a newsletter/newspaper). All posts will be updated in real time as the market situation changes (post updates will be time-stamped).
- Trade entries and exits will be mentioned in the daily posts, as well as via Twitter
- Fewer trades, but more pips on average per trade (we aim for at least 100 pips per trade)
- Typically 1-3 trades made per week
- Trade setups take more time to form so members will have ample time to be aware of, and prepare for upcoming trades
- Better suited for busy people or for those who don’t wish spend too much time on the computer
- Membership subscription (currently) at $67/mo
- Trades multiple pairs: EUR/USD, GBP/USD, EUR/GBP, EUR/JPY, AUD/USD, NZD/USD, USD/CAD, USD/CHF, GBP/JPY, USD/JPY
- Hosted by Kordell Stephens
- Trade setups and entries are discussed via ‘Live’ streaming video – as in an online seminar (webinar). You will be able to see Kordell’s trading desktop and voice in real time
- Trade monitoring and trade exits will be discussed during the webinar and any further updates made via Twitter
- More trades, and with greater variation of results (anywhere from 10 – 100+ pips per trade)
- Typically 5-15 trades made per day
- Trade setups can occur quickly. Trades are typically entered into, and exited anywhere from 1 hour to 1 day (or slightly longer). Multiple intraday trades
- Suited for people who wish to be active traders
- Membership subscription (currently) at $197/mo. Once we have 100 members it will go up to $247/mo.
Both memberships operate under slightly different strategies, as each host has his own trading style. Over time, you will also develop your own style.
Depending on your approach to trading, you will have to decide which membership is best suited for you (or, join both if you prefer).
There is no ‘right’ or ‘wrong’ way of trading – it all depends on how trading can be integrated into your social, emotional and financial situation.
Last but not least, understand that trading is a lifestyle. It is not something that you “simply do” like getting the groceries when your refrigerator runs out of food. Don’t view trading as a job. You must enjoy the process of learning and have the ultimate goal of being an independent trader.
Our goal is to help you achieve this, so you’ll never have to “work for money” again. If you’re going to be working it will be because you want to, not because you need to.
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11 Comments
January 27th, 2010 at 3:55 am
Hey Chris,
If I opt for live trading room membership, Do I ned to pay for regular pip mavens membership also.Pl Confirm.
Thanks,
Ajay
January 27th, 2010 at 9:39 am
Hi Ajay,
Nope, you can sign up for either membership. There is no need to join both if you don’t wish to.
February 15th, 2010 at 6:36 pm
Chris,
If I I wish to just try the “live trading room” for 1/2 month can I opt into the “regular PM membership” for the remainder of my month to see if it better suits my lifestyle. Either way I want one or the other.
February 16th, 2010 at 7:19 am
Hi Michael,
Unfortunately, we can’t do that. Each membership is tied to its own subscription and there’s no way we can switch memberships mid-way. The membership software doesn’t allow for that. Sorry!
- Chris
February 18th, 2010 at 1:14 pm
Chris,
I don’t wish to be redundant but I would like to address the same area of concern in this venue as I did on the “Quick Message” board. It is my opinion that recordings of Kordell’s morning sessions should be available in a more timely fashion that between 24-48 hours. Do you see this being addressed in the near future?
Thank you.
February 18th, 2010 at 2:51 pm
Phil,
I have replied to your comment in the quick chat but I will repeat what I’ve said here for you.
The recordings are processed by the service provider (not us), so there’s no way we can speed it up. We have sent them a few emails regarding this and they assure us that they are working as fast as they can.
We need to seek your understanding in that each session is over 1 hour long (not just a few minutes) so it takes quite a bit of time to process it for viewing. It’s not like a video camera where you can play back the recording immediately after recording – the video file takes quite a bit of time to process.
February 21st, 2010 at 11:16 pm
Hi Chris,
I’m just trying to understand the differences between the two memberships, the live trading room trades should cover all the regular membership trades, is that correct?
Also, what would you say is the range of pips per week generated from the live trading room (worst result – average result – best result)?
Thanks,
Andrew
February 22nd, 2010 at 5:47 am
Hi Andrew,
Each membership is different as they are hosted by different people (I cover the regular membership while Kordell covers the Live Trading Room). We trade with slightly different strategies, but with the same fundamentals.
As such, the trades covered in the regular membership are separate from those covered in the LTR.
You can view the results of the regular membership in the “Pip Count” section at the top left. The LTR results can vary quite significantly because not everyone will be taking the same trades that Kordell takes. I’ve seen members make over a thousand pips in one day, but this will probably not happen every day. Sometimes, there are also losses but they are net positive at the end of the month.
The regular membership has fewer, slower and less fluctuations in profits.
February 22nd, 2010 at 9:06 am
On jan 26 I joined both the regular membership and the live trading room – I have been using the live trading room successfully but I havent received any trade calls or how do I get access to them for the regular membership
February 22nd, 2010 at 9:19 am
when I go to your updates it says premium content for members only- please subscrive to view – I did subscribe on jan 26 – I have no problem when I go to kordell’s updates
February 22nd, 2010 at 10:30 am
Hi David,
Your membership is with the Live Trading Room (with Kordell).
If you’d like to pick up trading on the longer time frames (and get access to my posts), please consider joining the regular Pip Mavens membership here: http://www.pipmavens.com/details/
Just drop me an email via chris[at]pipmavens[dot]com if you have any questions about it.