The below is an extract of the Bedtime Trader Results e-mail recieved from Kevin Greenhall
Hi there. I hope you had a nice weekend and managed to stay dry.
Let’s catch-up with how Bedtime Trader performed last week…
We had a good start to the week with three good results achieving 753 pips by the close on Wednesday evening.
So, having achieved this result by mid-week, being faced with 24 trades all on Thursday evening, the possibility of risking all of that gain was, in my opinion, far too risky.
With that many trades on one night, it would be better not to consider any and to turn the computer off and have an early night.
With so many possibilities it would not be practical to take them all and it would also be difficult to determine which might perform against those that might not.
As it states in FAQs, when there are numerous trades highlighted, you shouldn’t risk any more than 10-15% of your bank in any one evening.
In this particular instance the risk would have been far greater. Consequently I have not reported on these trades.
The week therefore resulted in the following:
6 Trades identified by the Signal.
3 Winning trades.
1 loan to the market
2 Trades not taken or activated.
Net result for the week +753 pips.
The training note this week covers the topic of pairings due to be deleted and new pairings that are to be included shortly. You may have received the following email from GKFX.
Following on from the email we sent in February about some exciting changes being made to the products that GKFX offer this year, we are writing to notify you that from 24th August 2014 we will be reducing the number of currency pairs that we offer on our Spread Betting platform to clients.
Besides removing certain pairs completely from our platform we will also be introducing some new ones in the coming weeks including EURCNH, EURRUB, NZDCHF, USDCNH and USDRUB.
We are removing currency pairs that have seen little or no volume and also some minor crosses to enable us to add more markets to the trading platform and improve operational speed.
Any positions that have been left open in any of the following currency pairs that we will be removing from our platform on the weekend of 23rd/24th August 2014 will be closed at mid-market, without you having to pay a closing spread.
In line with the above I have asked our programmer to make the necessary changes and to incorporate them all in a new link which when sent to you will need to be actioned. This may well change the content of the Profiles but will eliminate the need for Profile 10.
Those of you who received an additional email from GKFX saying that 56 pairings were being deleted, like John, should ignore this as it only applies to CFD accounts and we are operating on spread betting accounts.
Sent: 07 August 2014 13:20
Subject: RE: GKFX email ref loss of currency pairs
BTT has been a god send and transformed my trading. Thank you for the clarification (I will be sooooo happy if they are not going to remove one of my favourite trading pairs, e.g. the ZARJYPSB pair, as 50% of the increase in my trading bank has been down to this pair, and that’s trading at only 10p per pip!!). Keep up the good work, and thank you again. Best regards John R.
And thank you John for your feedback which is very much appreciated.
Now let’s move on to the full details of last week’s trades…
Last Week’s Opportunities for W/E 9th August 2014:
Note: Exit time assumes 11pm on the day following the DoJi unless otherwise specified.
No Majors were traded this week.
03/08/14 – 04/08/14 – AUD/THB – NGDS OTO
Possible Gravestone DoJi off resistance at 23 DMA. Order to Open at price not activated.
05/08/14 – 06/08/14 – AUD/CHF – NGDS OTO
Possible Gravestone DoJi off resistance at 13 DMA. Possible support on 23 DMA. Order to Open below 23 DMA not activated.
Possible trades but with large stops. Consider smaller stakes.
03/08/14 – 04/08/14 – AUD/NOK – NGDS
Possible Gravestone DoJi off resistance high 03/07/2014.
03/08/14 – 04/08/14 – CHF/ZAR – NGDS
Possible Gravestone DoJi off resistance at 23 DMA.
04/08/14 – 05/08/14 – GBP/PLN – DDL
Valid Dragonfly DoJi off support at 13 DMA.
05/08/14 – 6/08/14 CHF/NOK – NDDL OTO
Possible Dragonfly DoJi off support at DMAs. Order to Open below 13 DMA.
BedtimeTrader.org is a test and discussion site only. Bedtime Trader is distributed by Agora Lifestyles. To visit the official Bedtime Trader website please click the Agora Lifestyles link or button. The above is an extract from Kevins weekly update e-mail.
Risk Statement: Trading Foreign Exchange on margin carries a high level of risk and may not be suitable for all investors. The possibility exists that you could lose more than your initial deposit. The high degree of leverage can work against you as well as for you. Disclaimer: This is a Bedtime Trader test and discussion site only. The website content is neither financial nor trading advice. Do not place trades based on any trading discussions or decisions detailed anywhere on this site, including the Bedtime Trader Chat Room and Bedtime Trader Forum. I am new to Forex myself and accept no responsibility for any trades you may make or losses you may incur. Like myself you trade at your own risk.
Author: Rich E