The Mike Miles / Tradehouse FAQ
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This is an UNOFFICIAL FAQ for the Mike Miles session on goLive. You will find the regular FAQ here, and maybe, if time permits other FAQ entries as well.
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The following FAQ's are what appears on the Mike Miles goLive channel. "I" and I've" refers to Mike Miles, not the owner/operator of this website.
What's your background?
I've been trading Forex for 5+ years now. Prior to goLive, I did nightly sessions on Twitch and YouTube. I was then asked by Christopher Terry to help start up what was then IML TV, now goLive.
When does this session start?
Sessions are held Sunday-Thursday at 11 pm Central Time. Use the link to convert to your local timezone. Please note that the session time may change in *your time zone* due to Daylight Saving Time in March and November in the United States. You might want to check the link below in those months to make sure it hasn't moved.
It's 11pm. Why haven't you started yet?
In order to give people time to arrive, the session doesn't get going until about 11 minutes after the hour.
What to expect: (In a normal session)?
A look at fundamentals.
Look at analysis from yesterday's session. (Except Monday Night/Tuesday morning, because there was no previous day analysis.)
New? Please note Mike does not do live trades on this session. It's a session to learn how to trade, not just make some quick pips. Think of this as the "Pre-London" session.
FYI - We go over 4 pairs every night, AUDUSD, AUDJPY, USDJPY and XAUUSD. Once we gets through these 3 pairs, we will go over other requested pairs, if time allows.
What to expect: Sunday Session
Welcome to the Sunday Session! If you are new, then please know right now we do !!NOT!! look at charts on Sunday. You could call this the "Truths of Trading" session.
It's an epic session, and will amaze you with information. Stick around!
What are the horizontal lines?
WL - Whole Level
HL - Half Level
LQP - Large Quarter Point
MLQP - Major Large Quarter Point
Look up "Quarter Theory" - There are free resources available on this topic. There is a Facebook group you can join, which has more information about it. Ask at the end of the session for the link.
How do I draw those lines?
You simply use the horizontal line tool in Trading View.
What do you teach?
My approach to trading is designed to be as simple as possible and it's my objective to make sure that when someone new comes in for the first time that we can actually make sure that its something that you can digest and keep you coming back for more! We tend to make trading into some sort of rocket science and so if that's something you think you are doing, You are in the right place!
What are your four favorite pairs?
AUDUSD, AUDJPY, USDJPY and XAUUSD
Are those the only pairs you trade?
99.99999% of the time, yes. In very, very, very rare instances I will trade another pair.
Why do you only trade 4 pairs?
I do it because i want to demonstrate my trading style and us looking at multiple random pairs daily in here is something i have done before and since i have been doing this for years now, I've come to the realization that its better to just stick to a few correlated pairs vs jumping all over the place looking for a random setup on a pair we never really talk about, even though the trade could be a good setup, my objective is to show you how i do it, so you can then go onto any pair of your choice and implement the same ideas.
What was the hardest thing you had to overcome as a trader?
Realizing that what I thought I needed to do, what completely the opposite of what I NEEDED to do, which was go against the beliefs I’ve been taught, to adjust to something that fits the world we live in today
What's your advice for new traders?
The answers to trading success are NOT found on a computer screen.
*Bonus* Allow numbers to do the heavy lifting
I'm new to your channel. What videos should I watch?
Welcome to the channel! Please look in the Favorites section for "The Grid Session" and "Quarters Theory" These are an excellent pair of videos to help you get going.
Do you trade live in this session?
No. For me personally this is not the correct time to place a trade. I personally in the London and New York sessions. Again, that's my personal trading style. This is the "Pre-London" session, where we look at what happened the previous night, and what to look forward to tonight. (See FAQ #4 and FAQ #5) There are times when I appear on the Bounce Back sessions. You do need a BounceBack subscription to join. They appear in goLive under the "Bounce Back" category.
2,10,11,16,24 - What do they mean?
These numbers represent candles on the Forex chart that represent session opens of various exchanges around the world. The candles and session that opens at that time are as follows: 2 Tokyo / 10 Frankfurt / 11 London / 16 NY / 24 Australia. - You want to know when these are as sometimes you will see rejections and other oddities when a major session first opens.
Who is ForexSecretsUnleashed?
That's Don. He's been a member of IM for 4+ years and is on session every night helping out. Sometimes he even covers a session now and then.