Review of: Day Trading Forex Live
Use: Forex day trading system
Profitability
This trading system is consistently profitable. I'm using it in my own live account.
Price
This system is very affordable, especially when you consider all of the features and support.
Ease of use
The system itself is not very difficult to learn, but it can be time consuming to trade.
Support
Sterling offers the best support that I've seen in the Forex education industry thus far.
What I Like
- DTFL is a profitable trading system
- The members area is very helpful for verifying good trading setups on a daily basis
- The Daily Market Review provides great feedback for learning and trading the system correctly
- The Live Trading Room is a great place to learn and receive support in real-time
What I Don't Like
- Trading on the 15 Minute charts, as we do in DTFL, can be time consuming
- There can be few trade setups if you only trade the Euro and the Pound
Summary: With a membership to Day Trading Forex Live you'll learn a profitable smart money trading system, which is most likely different than anything else you've traded thus far. This is, by far, my favorite trading system right now. I've tested it for over 8 months and started trading my live account using Sterling's techniques a few months back.
Day Trading Forex Live has been consistently profitable for me through my testing and live account trading, which is why I put this Day Trading Forex Live review together. Keep reading to learn more about this unique trading system.
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My Day Trading Forex Live Review
Have you ever felt like, even if you know you're trading a profitable system, you still end up taking all of the losing trades and missing the winning trades? I know that feeling . . . Murphy's law at its best.
I prefer to swing trade, and the Infinite Prosperity system works well for that. I also use the Top Dog Trading system to day trade, which helps to bring up my monthly profits.
The problem is that the Top Dog Trading system can be very time-consuming, if you're using it to daytrade like I was. I hate to sit in front of my desk and trade. I'm always doing something.
Because of my increasing desire to spend less time in front of my computer screen, I started missing a lot of good trades. I had no problem taking the losers, though. Those little misses started to add up, and I was seeing less than stellar returns.
I didn't want to go back to gluing my eyes to my monitor, and at the same time, I had tossed around the idea of testing another trading system for this site. If ever there was a reason to start testing a new system, this was it. So early last year, I went looking for a new trading system.
Looking for a New Trading System
My first attempt at finding a new trading system was the Forex Gemini Code, which turned out to be a total waste of time and money. I felt pretty stupid buying it, especially considering the cost ($997).
I also made a rookie mistake . . . I started live trading too soon, after some promising initial testing, and wasted some more money! Lesson learned.
Then, I found Day Trading Forex Live.
I really just stumbled upon the site. I was researching day trading systems on Youtube one afternoon. While watching a video about smart money trading by Martin Cole, I noticed a comment mentioning Sterling's DTFL site. I usually don't follow links like that, but I'm glad I decided to that day.
I've been testing and trading Sterling Suhr's advanced Forex bank trading course for over 8 months now. It's been consistently profitable for me during my testing and live account trading through varying market conditions.
I'm excited to tell you about Day Trading Forex Live, because not only is it a profitable trading system, but Sterling is also offering the absolute best ongoing Forex education and support that I have come across.
To be fair, Day Trading Forex Live isn't perfect. In this Day Trading Forex Live review, I'm going to show you why I'm trading this system and how it's different from anything else you've ever tried. I'm also going to tell you about why I think Sterling's system isn't perfect from my perspective. Your experience may differ.
Who Is Day Trading Forex Live For?
DTFL Is Perfect For You If:
- You want to know what really moves the market, and how to profit from it
- You're interested in getting an advanced, ongoing Forex education
- You could benefit from the real-time support of a live trading room
- You want to join a helpful community of successful traders
DTFL Is Not For You If:
- You're still searching for that "holy-grail" trading system that is just out of your reach
- You're looking for a set-and-forget trading system, like a swing trading system, or a robot (EA)*.
- You don't have the patience to wait for good trading setups
*Sterling does offer DTFL Pro, which is an EA that is able to semi-automate his trading system (more on this later).
If you're looking for a set-and-forget swing trading system, and you don't mind lower returns, I would recommend Infinite Prosperity.
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What Is Day Trading Forex Live?
On the surface, Day Trading Forex Live looks like your typical day trading course and trading system. DTFL is a manually traded, technical, high reward-rate (HRR) trading system. The trading system is taught by video, instead of a PDF or webpage.
Course Description
How Is Day Trading Forex Live Different?
Day Trading Forex Live is different from other trading courses that I have taken for four main reasons:
1. The trading system
2. The Daily Market Review
3. The live members chat (shoutbox)
4. The Live Training Room
The Trading System
Sterling's Day Trading Forex Live trading system is different than anything I have ever traded before because the method is based on what is happening behind the patterns that appear on your chart - not the technical pattern themselves.
How will this help you? Have you ever felt like your participation in the market is part of someone else's money making business? Like no matter what strategy you use, the market seems to just be against you. Well . . . you're right!
Sterling's system will teach you how to trade with the smart money . . . the guys that actually move the market. You'll learn how to stop being the victim of stop runs, and how to start making money when the market makers do this to other traders.
Although sterling's system does use a certain price action rule set, that he calls the "confirmation entry," to enter trades, his method is not actually based on price action. It's based on the stuff going on behind the scenes to create certain patterns . . . patterns that the market makers use to lure average retail traders into buying or selling.
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The Daily Market Review
The Daily Market Review (DMR) is a great training resource. Each night Sterling talks about the trades that occurred the day before (if applicable) on the Euro and the Pound, and he answers commons questions related to any unusual trading conditions that we experienced.
This is an amazing tool for learning his trading system, because you get daily feedback on whether or not you are taking the right trades.
In the past, I was involved in a stock trading that met weekly to discuss trades in a webinar, but the daily feedback from the Daily Market Review is head-and-shoulders (no pun intended) above anything else that I've experienced in terms of learning to trade the trading system the way it's intended.
In the DMR, Sterling also pre-selects the levels that we will be trading the Euro and Pound from the following day.
When I first signed up, I thought that only getting trading levels for the Euro and Pound would be limiting. However, like Sterling, I only trade the Euro and Pound using his method, and it still provides plenty of trading setups and monthly profits.
The majority of other traders in the members area trade others pairs as well and get many more trading opportunities as well. Sterling's system works on any pair, but I suggest that you stick with the Euro and Pound until you get the hang of the trading system and can choose your own high-quality trading levels based on Sterling's rule set.
The Live Members Chat
The live members chat (or shoutbox) is another tool that I use on a daily basis. When you join DTFL, you're joining a community of traders who are all trading the DTFL method. Many of these traders are successful and have years of trading experience that you can benefit from.
Since we're all trading the DTFL method, there isn't typically a bunch of confusing chatter going on, leading to conflicting ideas. Just a group of helpful, experienced traders waiting patiently for qualified trading setups, and standing by to help you when you need it.
I'll give you an example of how this feature helped me when I first joined DTFL. After, going through the course material and the add-on videos, I decided I was ready to start testing the DTFL trading system.
However, I didn't quite understand the "confirmation entry" as well as I thought I did. I called out a trade in the shoutbox. My message was quickly met with, "No . . . that's not right," "There's no setup on the Euro right now," and "We're still waiting for confirmation."
It seemed a little bit embarrassing at the time, but I learned what I needed to know about the "confirmation entry" that day. One of the members (sorry I don't remember who) even sent me a link to a recent video where Sterling talked about the "confirmation entry" in detail.
You can see how useful a focused group of traders, like the members of DTFL, could be to you as you're learning the system. In fact, I always check the shoutbox when any trade is setting up. It's invaluable to this system.
The Live Training Room
The last feature that I want to mention in this Day Trading Forex Live review, but certainly not the least, is the Live Training Room. Members of DTFL can join Sterling's live trading room twice a week (Tuesdays and Thursdays) during the New York session.
This is a great time to ask Sterling questions that may require a longer, or more in-depth, explanation. Sometimes it's just harder to get your point across in an email, which is why the live trading room is so useful.
At the same time, you also have the opportunity to ask follow-up questions in real-time . . . meaning you won't have to wait for hours or days to get your question answered to your full satisfaction.
If a trade setup occurs on the Euro or Pound during the live trading room, Sterling will take the trade with us. Even when no setup is occurring, you can always ask Sterling for advice on levels that you are looking at on the other pairs that you trade (if you decide to trade other pairs).
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What Are Students Saying About DTFL?
In this Day Trading Forex Live review, I've talked about what I like about DTFL, how it's been different than other courses that I've tried, and the success that I've had testing and trading the system in my live account.
Now that you know what I think about the trading system and course, take a look at what some of Sterling's other students are saying:
Do You Need Day Trading Forex Live?
Day Trading Forex Live is not the only profitable trading system that I have used, and it's not going to be for every trader. No trading system is. It all depends on what you want to get out of a trading system, and what your trading preferences are.
Below are the Pros and Cons of using this system from my perspective:
PROS
- The trading system is profitable. I have to stress that, because most of the trading courses and systems out there are crap.
- The Daily Market Review reinforces the trading system. This is so useful to this system, especially in the beginning. Daily pre-selected levels will help you trade this system profitably.
- The live members chat is a daily lifesaver. The community chat at DTFL is helpful when you're learning, and I still check the shoutbox before taking any trades.
- The Live Training Room is great for asking questions. Getting real-time support from Sterling on upcoming or past trades is invaluable. You'll get up to speed fast by attending the live trading room.
CONS
- It can be time consuming to trade. Trading on the 15 Minute time frame, like we do in DTFL, can be time consuming. However, the simplicity and nature of this particular method make it less time consuming than other day trading systems that I have used.
- Not as many trade setups as other systems. Experienced traders go for quality over quantity. That being said, DTFL can provide few setups, at certain times, if you're only trading the Euro and Pound like I do.
If you're looking for strategies that provide lots of time freedom, you're better off choosing a swing trading system, like Infinite Prosperity. I trade this system in less than 20 minutes per day. However, the returns are not as good as the day trading systems that I recommend.
Note: Sterling offers DTFL Pro for $59/month (plus a one-time setup fee). DTFL Pro is an EA that allows you to automate Sterling's trading system. You select the levels to trade from, and the EA executes and manages your trades while you're away. Many DTFL members use this software to trade the system while they're at work or asleep. I have not used it myself. I only mention it as an option to trade this system with a restrictive schedule or to simply provide more time freedom.
If you're looking for a system that provides lots of trading setups (2 per day or more), you're better off with something like Top Dog Trading. Top Dog Trading provides lots of setups through strategies involving anything from scalping to swing trading. Keep in mind that such a trading system requires a far greater time commitment to trade profitably.
If you're interest in trading a profitable day trading system that is most likely different than anything else you've tried, and you want to trade it with a community of helpful and focused traders in a live environment, then Day Trading Forex Live is exactly what you've been looking for.
Rating:
4.25/5
Summary: In my opinion, Day Trading Forex Live is the best Forex day trading system on the market. The support and daily feedback are second to none. The live environment and helpful community make learning and correctly trading this system easier than other systems that I've traded in the past.
I've been testing this system for over 8 months now, and it has been consistently profitable for me during my demo and live account trading. I'm "chris" at DTFL. Come join us!
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what gains have you made with dtfl percentage wise?
Thanks for the question, Ojay. I make between 3% and 6% per month on average with a couple of losing months each year. So far, the worst was February of 2016, where I was down about 3% at the end of the month.
That’s risking 1% per trade. Many of the other members risk 2% per trade. Sterling mentioned that he makes around 7% per month, risking 1% per trade. That was a while back. I’m not sure if he’s still doing that well or not.
If you’re talking about yearly gains, most of the experienced members of DTFL are making between 30% and 60% per year.
Keep in mind that I’m only trading the Euro and Pound with DTFL. Most of the other members are trading several other pairs. They have months where they make more than I do, and they also have months where they lose more than I do.
Do you have skype or something where I can contact you privately?
You can message me on Facebook: https://www.facebook.com/FXDayJob
Thanks for the review. Sounds interesting. Does this system use any indicators? I never see an edge in using them.
Also what is the ideal session to trade it? London or US?
Thanks.
Thanks for the comment, Dave. You don’t have to use any indicators. There is an indicator, similar to iSessions, that you can use (if you use MT4) to visually display the important trading sessions on your chart. This can be pretty useful – especially for backtesting. There’s also an average daily range (ADR) indicator, similar to this one. The ADR is essential to the system… for analyzing trades, but you don’t have to use that specific indicator to get the ADR (in case you don’t use MT4). Any 14-day ADR will work.
No indicators are used for the actual trade setups.
As for the best session to trade this system in, Sterling says that it’s easier to make money in the London session. However, he trades the NY session as most American traders will. I tried the London session when I first started. Now I trade the NY session. I’ve made money in both sessions. I would just trade the session that’s more compatible with your schedule.
Hi Chris,
Thank you for the quick reply.
Few more questions before deciding.
1. From your personal experience, are you able to trade this method independently without relying on any support from the trainer or fellow students? How long will it take before you are independent?
2. What is the average number of setups per day or month?
3. When you measure your own average profitability of about 3 – 6% per month, do you use only the US session that you actually trade in? From the Youtube videos, I am unsure if Sterling calculates his returns based on actual trades he made during the US session or all available trades for both sessions.
4. From your experience, does this method require you to take all (or most) trades in order to maintain the edge? Some methods are so finely balanced that you need to take all or most trades to get the edge while others offer more leeway.
Thank you once again,
Dave
Great questions, Dave!
1. It doesn’t take long to trade this system independently. You may still find it useful to take advantage of the community and/or the live trading sessions and market reviews/previews. Sterling has been trading for more than 17 years. He has more wisdom to offer other than the rules of his system.
2. Based on my experience trading this system in the NY session, I would say that you can expect between 10 and 15 trades per month if you only trade the Euro and Pound. If it’s very slow, you might get less. During a hot period, you might get more. Obviously, trading more pairs will give you more setups. The low(ish) number of trading opportunities is a direct result of filtering out bad trades and only taking the best setups.
3. My profitability numbers are based on trading the Euro and Pound during the NY session only.
4. Yes, you need to take every trade – especially considering the number of trading opportunities. Every mechanical system is like that. If you commit to taking setups on the 15-minute chart during the NY session, you need to take every setup. In order to really let your edge work out over time, you have to be consistent. Anything else is gambling.
I hope that answers your questions. Good luck!
Hi Chris,
Thank you for the detailed reply. Will probably order this over the weekend.
Thank you again,
Dave
No problem, Dave. I’m glad I could help.
Hi Chris
That was quiet an explaination of the system. You talked about the average gain in terms of percentage can you please elaborate it a little more in terms of pips gained an risked per trade and per month?
Hi Sheryar,
We risk 20 to 25 pips to make 40 to 50 pips respectively – depending on the situation. The risk and reward on some pairs (that I don’t trade) are a little different.
As far as gains are concerned, talking about profitability in terms of pips is pointless. For instance, a swing trading system will give you more pips because trading moves on the daily chart means you risk more pips and target more as well. However, you should still be risking the same low amount of money per trade (2% or less).
Hello now is july first isit still possible to get the discounted price? Are you able to teach through webinar?
Hello, Aldrich. It looks like Sterling still hasn’t changed the price, so you’re good if you act fast. He’ll probably change it later today or tomorrow. Sometimes he just gets busy and forgets.
To be honest, Chris I personally think you are just a affiliate marketer lol you are a IP student you guys will sell your soul to make money.
Please show a track record of you making profit from DTFL, I took the course because of your highly words however, Sterling entry technique is mechanical correct. But this guy does not go into any details on how he finds the levels to trade. Finding the stop hunt level is not mechanical Jesus u Internet markets would sell ur ass if you could. you probbly won’t allow this but who cares. at-least you can read it and know deep down what you are doing
Here’s a little dose of reality for you, Jamie: Nearly everyone that runs a website is trying to make money from it in some way or another. A lot of time, effort, and money goes into owning and operating a successful website. My time, especially, is valuable. I wouldn’t spend so much of it on this site if I wasn’t getting something in return.
There are many ways to monetize a website. Some webmasters sell advertising space, some sell their own products (which I’m planning to do in the near future), and others recommend products that they’ve tried and like (if they’re honest). I’ve chosen to recommend products that I use or have used thus far because I have maximum control over what I refer my readers to.
I started this website in 2011 because I had started to finally make some consistent profits in the Forex market using the Top Dog Trading system. I knew others would be interested in that system since most traders are not profitable. I figured recommending something that I used and believed in would be a win-win. I would be helping other traders find a profitable system and speeding up the growth of my trading account in the process.
I still recommend TDT to certain traders (depending on when their schedule allows them to trade), but I have put my full weight behind Day Trading Forex Live the last couple of years because the system is more profitable, easier to trade, and Sterling offers daily ongoing education.
If it was all about money, I’d still be recommending Top Dog Trading. Barry pays nearly double what Sterling pays. Infinite Prosperity (which I proved is profitable, BTW) pays more for referrals as well. For that matter, I could make a lot more referring people to other systems. However, these are the systems that I’ve tried.
Sterling most definitely does go into details about how he chooses levels. The fact that you said that makes me think you haven’t gone through the materials, attended any live trading, watched any daily market previews/reviews, or asked any questions. His system for choosing levels is, in fact, mostly a mechanical process. If you would learn the system, you would be able to choose your own levels on any currency within a short period of time. Most of his students do exactly that.
If you’re so unhappy with Sterling’s system and teaching, get a refund. Believe me when I say that I sleep very well at night, because for every one of you who blame everyone else for your trading failures, I get ten or more people thanking me on this site and Facebook for introducing them to Sterling or helping to improve their trading in some other way.
DTFL is going with the smart money setups, why on earth is your blog going on about harmonic and candle stick patterns
Simple, Jamie. Stop runs are not the only way to make money in the Forex market and DTFL is not the only system that I use.
NOSOTROS HABLAMOS ESPAÑOL, ¿OK?
Todos los materiales de instrucción y el comercio en vivo están en inglés.
1. With the DTFL, what can be said to be the recommended minimum starting bank? $200, $500, $1000 ? etc ? With your experience what would you recommend for starting small? 2. Can one hit the ground running with the DTFL or must take say a month or so of training before commencing live trading? I mean for those already trading, is the course easily learned (assimilated} that you can even start trading it live in few days? I’m curious because I’ve been preparing to join DTFL after watching some of its public videos. I may not necessarily be rushing but I believe some should be in a position to move faster or is it time consuming to learn the strategy?
Everyone has to start somewhere. Just keep in mind that opening a brokerage account with a deposit of less than $3,000 (preferably $4,000) will likely get you added to the B book. That means your broker will trade against you and hunt your stops because they expect you to lose anyway. After all, if you were a successful trader, why would you open a trading account with such a small amount of money? The good news is that DTFL is a smart money trading system, meaning it isn’t as susceptible to broker shenanigans as other systems may be.
The system itself is easy enough to learn, but I don’t recommend trading live until you get plenty of demo experience. Even then, you should start by risking as little as possible. You do this to prove to yourself that the system works. You’ll need that confidence in the system during periods of drawdown. You need to have the fortitude to keep trading the system, even through periods where it’s not getting much traction, in order to let the edge that the system creates play itself out over a large sampling of trades.
If DTFL is your first trading system, you’re very lucky. Most of us had to try a lot of bad systems before we found DTFL. Just ask plenty of questions. Make sure you’re trading it correctly and listen to Sterling. Good luck!
Chris, sure what you’ve written is a great reply to me. You’ve given me an insight on what DTFL would likely be giving me when I join. 1. I also love that bit on Brokers grading one into the B group. Sometime you need to start small before being comfortable with a strategy. I’ve observed what said on the Brokers, starting at $1000, $2000 was not quite comfortable as with $10,000. I could see some tricks with smaller amounts more so you’re forced to take micro lots because of the small account size thereby trading against a Dealing Desk,market maker. 2.You know I have been confused as whether to go for Trader Dale’s (TD’s) course or DTFL because the two strategies appear close, more so Sterling introduced him that they’re working together on the TD’s while he’s still with Chad at DTFL. Have you ever had an opportunity to assess TD’s strategy or talk to some who’re using it right now. I know for sure DTFL is a one-off lifetime payment while TD’s is a subscription based course. I’ll love to make a decision on my choice within few days. I’m attracted to the two as Sterling is also involved in TD’s though may be not too deeply as with DTFL. Can I hear from you very soon?
I’m glad I could help you. I haven’t had the chance to test Trader Dale’s course. I can only speak for DTFL personally. Maybe I will get a chance to test TD’s course in the future. Right now, I’m working on other things.