Index, Forex and Diversified Trading

using simple mechancial solutions

Brent Penfold trading since 1983
and helping others since 2001!

International Best Seller! Now translated into;
German, Polish, Japanese, Korean and Simplified Chinese.

Frequently Asked Questions
I have looked at the Key Level Book. The web page says we can subscribe to the newsletter. Is that part of purchasing the book/course or is that an additional cost? Is that newsletter the same as what I've been receiving with this trial of the ForexALERT newsletter?

The Key Level book and Key Level newsletter are separate. Traders buy the book for the Key Level Trading System which is my best methodology I teach for forex trading. After buying the book traders are then eligible to subscribe to the newsletter if they wish to where they can watch me trade Key Levels on the currencies. The book costs AUD670 and a quarterly subscription is AUD490. These are two separate costs. The newsletter is designed to provide practical live trading experience to compliment the Key Level theory explained in the book. For example I’m currently short the CHF/USD based on Key Levels and the newsletter shows what I have been doing and why according to Key Levels. In my opinion the combination of a course book (containing the theory on the Key Level trading methodology) and a live trading newsletter (providing practical live examples of Key Level trades being made in real time, with real money in real markets) makes Key Levels one of (if not) the best forex course available for the private trader.

ForexALERT is separate again and is not the Key Level newsletter. I hope this makes sense.

I am interested in your forex system. I am confirming that it is the blue Key Level book I should purchase and do you have real time results with your system that you can send me?

Yes, the blue Key Level book is my medium-term trend trading forex system. And unfortunately I don’t have a separate account where I can say here are my real time results for Key Level or ForexALERT. When I went public and started out in 2001 I did open separate accounts to trade my index models as I thought I had to since I was new. Now that I’m established I don’t feel that I need to prove to people that I trade successfully …so I don’t operate separate accounts to trade Key Level, ForexALERT or BBTT ….so I do all my currency trading in my main account which also encompasses everything else I do (currency and index day trading over multiple timeframes). And I’m happy with my decision as I find it administratively a pain to operate my individual IndexTrader, SpiTrader and IndexALERT accounts alongside my main account. I wouldn’t want to administer another 3 separate accounts….I think I’d go bonkers if I did. And maybe when I’ve been public for 10 years I may even shut down my individual SpiTrader, IndexTrader and IndexALERT accounts, roll the money into my main account and just trade the one account … now that would be good (for me). However you’re more then welcome to contact my broker Matt Andronicus who executes my currency trades for both Key Level and my newsletter ForexALERT.

I should also say that owners of Key Level are able to subscribe to Key Level’s daily newsletter where they can watch me trade Key Level in real time, in real markets with real money. Myself and this web site is all about 100% transparency.

I'm currently reading your 'SPI book' and I've spent the evening scouring your website, but I have a query please. I am trying to differentiate between your KEY LEVEL and your ForexALERT newsletters. My understanding is that both are based on the KEY LEVEL mechanical system (described in the KEY LEVEL Book) but that they differ slightly (as evidenced by different theoretical trading results). It seems that for the same price I could subscribe to the ForexALERT Newsletter and get direct guidance (to trade a variation of KEY LEVEL) or subscribe to the KEY LEVEL Newsletter and also receive advice on your intentions to trade KEY LEVEL (which I could then shadow). Can you please confirm whether I have got it right?.

Thanks for your email. Key Level is a fully disclosed mechanical trading strategy, or mechanical pattern. ForexAERT is an fx newsletter. ForexALERT trades a portfolio of patterns. One of those patterns is Key Level.

I’m sick of looking for my version of "The Grail" and I probably have a fair sized subset of your trading library. I now trade FX via IGMarkets, and am looking at getting a start-up method that I can use to get away from day trading. Think I'd like to buy your Key Level book. As I'm confident I can apply the method myself, I also thought I'd look at your ForexALERT letter, rather than the Key Level letter. Am I correct in assuming that ForexALERT contains the Key Level Method plus some other personal patterns, in the same way that IndexALERT contains IndexTrader plus other patterns? If so, can I trial ForexALERT and buy the Key Level Book? P.S - Missed your Melbourne talk, hope to have more time for the next one. P.P.S - I've kept reading your e-mails over the years whereas I've unsubscribed from literally dozens of others (50+?). Just my little pat on the back for keeping up the common sense over such a long period of time :-)

Thanks for your email and thanks for being on my mail list for so long! And yes… ForexALERT does trade the Key Level pattern plus some other patterns, in the same way IndexALERT trades the IndexTrader patterns plus additional ones. And yes you can purchase Key Level and trial ForexALERT.

Would Interbank FX be suitable as a broker using the Key Levels book?

I really can’t say as I don’t use them and I don’t use an online broker. I use an old fashion Client Adviser. However I’d be surprised if you couldn’t. Key Level's trade plan  is very simple. When set-ups occur Key Level will enter on a break of a previous days high/or low (depending on the bias). If your broker can allow you to do that then you’ll be able to trade Key Levels with them.

I have been trading currency "PAIRS", i.e. EUR/USD however I have only seen references on your web to single currencies like Swiss Francs (SF), Euro Currency (EC) and British Pounds (BP) etc. Does the Key Levels book teach you how to trade currency pairs or is what you talk about the same thing?

Yes, they are the same thing. SF (Swiss Francs) is the same as CHF/USD. All currency trading is in pairs, it has to be, selling one currency to buy another. Euro Currency refers to the EUR/USD currency pair. British Pounds refers to the GBP/USD pair, Japanese Yen refers to the JPY/USD pair and the Australian Dollar refers to AUD/USD.

Is this book suitable for someone with basic fx knowledge or is it more suited to experienced traders?
Yes. Its good for all traders regardless of their experience because it works. And it is simple!

Is there a newsletter that accompanies the book or will that be an additional cost?

Owners of Key Levels can subscribe to my daily Key Level newsletter where they watch me live trade Key Levels on the 5 main currency pairs. So traders can buy the book and if they require a little more help/confidence then they can subscribe to the newsletter for AUD490 per qtr and watch me trade. This helps them to improve both their confidence and knowledge of Key Levels. Very experienced and confident traders will only need the book.

I am a beginner trader and I find myself interested in learning both the Forex and the Index market (E-Mini SP-500), anyhow there is just so much info out there I just don’t know where to start and I also can’t decide between both markets. I don’t have $20,000 trading capital (I am wishing that were the case!!!), rather only $5,000 and I really don’t want to blow it by making silly mistakes. About a year ago I signed up with XXXX XXXXXXXX not really knowing what was involved in trading, so I didn’t really ask the right questions even though at the time I thought I had. The thing is they don’t really teach you how to trade rather just rely on their moderators in there live trading rooms, which is fine if you don’t care about the knowing anything further but the thing is I do wish to learn more. I have got a taste for the e-minis and a big thirst for more knowledge, however after reading some info about Forex I’m now finding myself drawn to this also. I am just looking for some genuine advice on how I can learn the basics and then develop as a trader myself, can you help.

No worries. My suggestion is to delay trading again until you can get at least $10,000 in risk capital. Although it may delay your re-entry to trading you’ll be able to make good use of the time by studying about what it takes to succeed in trading. In addition I can recommend you get a copy of my Trading The SPI book. At only $30 it’s inexpensive and I’m not pushing my book onto you to make money as I think I only earn around $2.50 per copy in royalties!

Now although the book is about trading the SPI I’m recommending it to you as Part II of the book describes the preparation necessary to become a successful trader….and this is applicable to all traders…regardless of whether they trade indices, forex, commodities, shares or options etc…as trading is trading is trading …what instruments we choose to trade is secondary to adopting a good process of trading and that is what you will learn in Part II of my book.

Once you have read, understood and accepted what I have to say in Part II then I’d suggest you should consider trading forex over the indices. Once you’re profitable with forex trading then certainly you can look to expand into indices, however to start I’d recommend you look at forex first as in my opinion it’s easier to trade….and this is principally because forex is a 24 hour market that rarely leaves gaps between the daily bars, unlike the indices. If you look at daily index charts (like the SP500…not the e-mini) you’ll see gaps all over the place and they do make trading challenging.

For a methodology to trade forex then I can recommend my Key Level Trading System book. It’s a relatively simple and robust approach to forex which works ..its not perfect….but it does have an edge. And owners of the book have the option to subscribe to the Key Level newsletter where they can watch me trade Key Levels each day on the currencies … the objective of the newsletter is to give owners of the book the option of seeing Key Levels at work in real time in real markets with real money. The idea is to show the theory (Key Levels) at work in the markets.

Price:   AUD$670.00

Disclaimer: Active trading carries a high level of risk and may not be suitable for all people. The high degree of leverage provided by futures can work against you as well as work for you. Before deciding to trade you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your risk capital and therefore you should not trade money that you cannot afford to lose. You should be aware of all the risks associated with active trading and seek advice from an independent financial adviser if you have any doubts. Past performance is no assurance of future performance.

Under Chapters 6D and 7 of Australia’s Corporations Act 2001 I am authorised to carry on a financial services business to provide general advice on futures to Australian wholesale clients. Accordingly any opinions, conclusions and or other information expressed by myself do not contain personal advice. Visitors will need to with, or without the assistant of a person licensed to give personal advice, to determine whether any general advice expressed by myself is appropriate for them given their particular needs, financial situation and investment objectives.