Chorek.com’s Market Chronicles

Frequently Asked Questions

How do I get a trial to Chorek's Market Chronicles?
Click Trial/Subscribe button on our front page, and fill all spaces and submit.  For $7, within forty-eight hours, we'll set you up with a two-week trial period.

Why should I take a trial to Chorek's Market Chronicles?
J.P. Chorek has had nearly twenty years experience analyzing the financial markets. During that time, he has developed a blend of analysis found in no other service. His unique approach combines trend following methods, cycle timing, pattern recognition, and market psychology.

Your example charts show Elliott wave labels. Some so-called Elliott experts have poor track records, so why should I look at your service?
Elliott wave analysis is but one tool that we use at Chorek.com, Inc. Other Elliott analysts tend to use only wave analysis to formulate their forecasts, and more often than not fight trends. Some so-called experts come to the markets with preconceived notions of what the markets should do. Such subjective approaches are doomed to failure. Chorek.com, Inc. takes the best of Elliott wave analysis along with other methodologies, keeping our analysis objective, identifying turning points within trends rather than fighting them!

The labels on your charts seem complicated and over my head. Where do I go to learn more about the methodologies that you use?
We use simple wave labels, but you should have a basic understanding of Elliott wave analysis to get the full value of our service. To do this, read the chapter on Elliott analysis in John Murphy’s Technical Analysis of Futures Markets. This is a great reference book that every trader should have on his or her desktop. This book also has good chapters on other methodologies that we use.

I follow the markets fundamentally, and don’t have the time or desire to study the markets from a technical approach—why should I bother with Market Chronicles?
Chorek.com, Inc. actually has many clients who are in similar situations. They understand that our technical approach to the market is very useful, though they may not be very adept at the methods we use. A common approach is that when our analysis is in agreement with their work, they are more aggressive. Consequently, when our analysis contradicts their thoughts, they become more cautious toward the markets.

What markets do you cover?
Our main focus is on the foreign exchange markets. We cover the major dollar rates and cross rates. We also follow interest rates and stock market indices in the Unites States, Germany, and Japan. Finally, we take an occasional look at crude oil and gold.

How frequent are your updates?
Our coverage of the foreign exchange markets is the most intense, providing a Chronicles updates throughout the day. Coverage of interest rates, stock indices, and energy markets is provided in a more broader-picture, infrequent basis. We provide analysis on a 48-week per year basis, as we normally close for one week per quarter. We try to coordinate our absence with inactive holiday periods, but there may be some unavoidable days off at varying times. We give ample notice as to when we will be on holiday.

Do you give trading recommendations?
Though market analysis is very important, the most critical aspect of trading is money management. Every individual trader has a different money management style. Trading goals are different from trader to trader, and so are risk tolerances. Even the same trader will change his or her money management approach with changes in the amount of funds available. Therefore, it is impossible for any service to realistically provide useful trading recommendations to the individual trader.
For example, if someone said buy the euro at .8900 with a stop at .8850 and sell limit at .9000, some traders may think that the stop and profit objectives are too small. Other traders may view such a strategy as too aggressive regarding risk. Some traders may view this trade as too short term and others too long term. Some traders prefer to scale into positions, and others are only able to enter at one price. Thus, there is no way any service can give trading recommendations suitable to the wide array of trading styles in the marketplace.
So, rather than give specific trading or investment advice, Chorek.com, Inc. simply monitors the trends, cycles, patterns, along with supports and resistances so that each individual trader may develop their own market decisions suitable to their situation.

What other types of services does Chorek.com, Inc. offer?
Along with our Chorek’s Market Chronicles, we offer Chorek’s Forex Mentor. For a charge of $25, we will answer any question about the markets in a clear, concise manner. Also, we offer Chorek’s Forex Reserve, which is a custom service, including Chorek’s Market Chronicles, unlimited answered questions, market-inspired alerts, etc. Please see our front page for more details.

What is the cost of the Chorek’s Market Chronicles?
Our base price (billed quarterly) is $150 per month if invoiced (paid by check) or a discounted $99 per month (not applicable to other discounts) if paid by credit card. We also have a semi-annual and annual payment plan of $450 and $800, respectively (credit card). We have generous multiple screen payment options for institutions. With a paid subscription, you get full access to the entire Chorek.com or MarketChronicles.com web site. You will also receive regular emails of the commentary only sections of the web site. They serve as a notice to check the web site for the many updated charts. Since we offer a two-week free trial, Chorek.com, Inc. does not provide refunds for paid services.