Daily Bulletin

Friday August 20th 2021


From this end-of-week bulletin alone, i think we can say that getting rid of the EMAs, which led to total focus on the weekly chart and no other - has been an unqualified success. I have never had so many demo-traders who weren't doing very well, suddenly turn in such fabulous weekly figures.

It is absolutely true that the market has been extraordinarily kind to us this week, for sure. But remember last week was also a very good week. But take my word for it, the market could be moving well and plenty of traders will still be sucking their thumb's and wondering what to do....

Today's figures show one thing for definite. When the market moves, you guys now understand what is happening - you are trained for it - and know exactly what to do to take advantage of it when it does move. Fabulous stuff.

And there's no secret - all you need is to apply yourselves assiduously to learning to read the weekly. NO other chart matters however much we find that hard to believe.

Well done everyone. Have a wonderful weekend, and I'll sign off by simply saying....


1


Trend Pair*: EUR/NZD
Chart Time-Frame*: 30 minute
Date & UK Time of 1st Entry*: 19/08/21 11:40 AM
Time in Trade*: 5H 5m
Range: (Stop to Entry)*: 45
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 2 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: Returning to this pair from last week.

The pair have been bumping along a historic barrier since February, for the last 2 week in a 400 pip channel. This time the pair were at the top of the channel so a sell trade had potential.

The pair broke out of the channel, then retraced. I found an entry early in the potential move in the 30m chart. The trade went sideways for 3 hours then headed down. I decided not to take the first significant fall, but after the fourth time into significant profit I exited when reversing back to 2%.

I will observe on Friday to see if it’s still tradeable.
:
Pips? (+ or -)*: 45
ROI%? (+ or -)*: 2.0%
:
Name*: Mark
Location*: Skipton
Demo/Live*: Demo

Good trade, well done, lovely 2% ;-)


2

Trend Pair*: GBP/USD
Chart Time-Frame*: 2 hour
Date & UK Time of 1st Entry*: 19/08/21 02:12 PM
Time in Trade*: 12h12m
Range: (Stop to Entry)*: 21
% of Capital *: 1.0%
Buy or Sell Trade*: Buy
:
:
Rate The Move Steepness (1 to 5)*: 1 star
Rate The Price Action (1 to 5)*: 1 star
OVERALL RATING (1 to 5)*: 1 star
:
:
Relevant Details & Your Plan*: The pair has been in a 220 pip channel for the last 8 weeks. It had reached the bottom of the channel and I had two possible settings: break through or bounce. Looking at the smaller time frames the bounce seemed more likely at the moment before it would go down so I went for that one. In hindsight, I should have paid more attention to the rather flat steepness and poor price action plus there where several USD news coming up.
At first the pair slowly moved upwards. I couldn't monitor it for a few hours and when I checked again it was slightly negative. Still sure it would go up I left the trade open and couldn't check again until today morning just to see that it had hit my SL.
What is really aggravating - at the 7pm news yesterday it did shoot up, it looks like it hit TP1 but obviously didn't make it. A tenth of a pip or so must have been missing.
:
Pips? (+ or -)*: -44
ROI%? (+ or -)*: -1,86
:
Name*: Ulrike
Location*: Austria
Demo/Live*: Demo

OK, I'm afraid it is chastisement time. **smile**

The one thing you did here which you should not have done was to try to read a smaller time frame chart. I will repeat someting for you to remember Ulrike...

You make all trading decisions and plans in the weekly chart alone. You only drop down to a lower time frame chart to look for a pull-back to give you an entry.

This has become a rule for all demo traders with the exception of Michelle who is going live.

I am not going to explain this again, but I ask you to look at what you traded. The price action shows that price rose just 40 pips over 20 hours. That's an average of 2 pips an hour, so not really anything more than a small pullback which would hardly register on the weekly chart. But it fooled you ;-)

Now that seems as though you did a terrible thing. Of course you did not, but I do want you to learn and understand that the moment you start to analyze an insignificant chart, you lose the big-picture-understanding that the weekly gives you (I call this 'clutter').

If there is not enough evidence to make a decision in the weekly chart, you either wait until there is enough evidence (you wait for the move to develop). Or you do not trade.

There we are - I call this kind of comment when you are fairly new, "tough love" - take it on the chin ;-)
(I hope you understand this Engish saying?)


3

Trend Pair*: GBP/USD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 19/08/21 03:56 PM
Time in Trade*: 4hr, 13min
Range: (Stop to Entry)*: 36
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 3 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
Relevant Details & Your Plan*: This pair had been in roughly a 250 pip range for the last couple of months and after bouncing off the resistance at 1.3984 three weeks ago, today continued a sharp descent beyond the bottom of the channel. Having passed wicks from March and April, there was potential to continue to the next barrier around 1.3600 and possibly TP1. Found a pullback in the 4hr and entered with a MO. It came back on me but then continued down. It was slow going and I eventually exited as no longer able to monitor and the move was possibly over.
:
Pips? (+ or -)*: +11.5
ROI%? (+ or -)*: +0.64
:
Name*: Clare
Location*: Saffron Walden
Demo/Live*: Demo

Good to get a few pips as you come back from your holidays. Good analysis and decision making ;-)


4

Trend Pair*: USD/CAD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 20/08/21 00:12 AM
Time in Trade*: 8hrs
Range: (Stop to Entry)*: 30
% of Capital *: 1.0%
Buy or Sell Trade*: Buy
:
:
Rate The Move Steepness (1 to 5)*: 4 stars
Rate The Price Action (1 to 5)*: 4 stars
OVERALL RATING (1 to 5)*: 4 stars
:
:
Relevant Details & Your Plan*: Following on from previous trade this was still moving up strongly from a sig support and had passed wick to the left in the weekly. Set this with a view to a shorter term trade than the last one as was able to watch this most of the day (no work , in lockdown :) and re-entered on a market order on the pull back candle.

Moved the stop up once to lock in 1% and TTM when it seemed to be taking a breather.
:
Pips? (+ or -)*: +87
ROI%? (+ or -)*: +2.6%
:
Name*: Michelle
Location*: NZ
Demo/Live*: Demo

Good stuff and a lovely ROI MIchelle, well done ;-)


5


Trend Pair*: GBP/AUD
Chart Time-Frame*: 1 hour
Date & UK Time of 1st Entry*: 20/08/21 11:19 AM
Time in Trade*: 2H 48m
Range: (Stop to Entry)*: 43
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 3 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: In the weekly the pair have been climbing since May with a 2 week pullback recently after a significant rise. It seemed possible this may re-occur.

The pair stopped the rise in correlation with the AUD/EUR and the GBP/CAD all providing entry points.
I entered a sell trde with a market order. As this was a retracement, I monitored it often. It went negative for a while then stayed positive. I exited when it retraced for the third time.
:
Pips? (+ or -)*: 16.2
ROI%? (+ or -)*: 0.75%
:
Name*: Mark
Location*: Skipton
Demo/Live*: Demo

Thank you for a comprehensive report which explains why you took a trade I would not have taken because, or I should say 'in case' this is a false down-turn at the top of a big push up. But your explanation is good and shows a very good understanding of any risks. In other words, 'you had it covered' Well done Mark ;-)


6


Trend Pair*: EUR/GBP
Chart Time-Frame*: 1 hour
Date & UK Time of 1st Entry*: 20/08/21 12:40 PM
Time in Trade*: 2H 43m
Range: (Stop to Entry)*: 60
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 4 stars
Rate The Price Action (1 to 5)*: 3 stars
OVERALL RATING (1 to 5)*: 4 stars
:
:
Relevant Details & Your Plan*: Following Rhonda’s post, I sat looking at the CAD in EUR, GBP and USD trying to work out if they were rising or falling. At first they all looked to be rising, but the weekly suggested otherwise. I sat and watched for a while until the movement unfolded. I chose the EUR.

This week the pair shot up to the high point of 16 and 4 weeks ago, each previous time reversing back to support at 1.4650. There was potential for this to re-occur providing opportunity for a retracement sell trade.

The equivalent GBP & USD pairs were correlating at high points all three offering entry points. I chose the EUR because of the violent recent history.

I made an enrty order, the trade triggered 40 mins later and went positive, then negative a few times, eventually taking off. At 45 pips positive I set a 15 pip (0.5%) trailing stop to secure a 1+% profit, finally delivering 2%.
:
Pips? (+ or -)*: 61.3
ROI%? (+ or -)*: 2.04%
:
Name*: Mark
Location*: Skipton
Demo/Live*: Demo


Excellent Mark ;-)


7

Trend Pair*: EUR/AUD
Chart Time-Frame*: 1 hour
Date & UK Time of 1st Entry*: 20/08/21 02:40 PM
Time in Trade*: 12m
Range: (Stop to Entry)*: 30
% of Capital *: 1.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 2 stars
Rate The Price Action (1 to 5)*: 1 star
OVERALL RATING (1 to 5)*: 1 star
:
:
Relevant Details & Your Plan*: Weekly sentiment up with a very large candle this week, which had reached a significant point around 1.6400. With such a large move this week, I felt that there was a chance of a correction. I was also looking at the EUR/CAD and USD/CAD with equally large candles for this week.

The EUR/AUD had the best price action on the 1H chart. The plan was to trade a correction to TP1 and possibly to a potential support point at 1.6300 (TP2). Given that this would be trade against the sentiment, there would be no leeway. If it did not go - I would be out.

Had to wait a while for some movement and got into the trade, correlating with the E/CAD. Positive immediately but E/CAD and U/CAD were the better movers. Exited as as soon as I saw those pairs start to reverse.

This late trade changes my weekly ROI to +4.42%.
:
Pips? (+ or -)*: +16
ROI%? (+ or -)*: +0.53
:
Name*: Geoff
Location*: Edinburgh
Demo/Live*: Demo

Well done Geoff, topped your week off very nicely ;-)



Monday*: -5
Tuesday*: +55
Wednesday*: NT
Thursday*: +100, +74
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +224
Week's Total Roi %: +4.42
Accumulative ROI %: +25.04


:
Name*: Geoff
Location*: Edinburgh
Demo or Live: Demo

Your goal was 4 weeks at 1.5% per week. You'll
get another football next week if you get another
1.5%.

But you secured a very well earned 4.42% and exceeded
your 4 week target of 10% in just 3 weeks - Wow Geoff ;-)
That was a really excellent week's trading...
WELL DONE...


Monday*: UTT
Tuesday*: NT
Wednesday*: NT
Thursday*: +180, +40, +14
Friday*: +87
:
Remarks (Optional):
:
Week's Total Pips: +323
Week's Total Roi %: +4.95
Accumulative ROI %: +42.85


:
Name*: Michelle
Location*: NZ
Demo or Live: Demo

That's near enough to 5% to warrant
the max, a well earned 5 smilies...
WELL DONE MICHELLE - a wonderful
first time achievement ;-)


Monday*: +27, +25
Tuesday*: NT
Wednesday*: NT
Thursday*: +54
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +106
Week's Total Roi %: +5.46%
Accumulative ROI %: +36.17%


:
Name*: Alison
Location*: Australia
Demo or Live: Live

Not a first time achievment for you
Alison, but even so, you know that
5% is outstanding money ;-)
WELL DONE....


Monday*: UTT
Tuesday*: NT
Wednesday*: NT
Thursday*: +11.5
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: +11.5
Week's Total Roi %: +0.64
Accumulative ROI %: +7.24


:
Name*: Clare
Location*: Saffron Walden
Demo or Live: Demo

Back from holidays and positive
That's exactly what I love to see Clare
I know you are starting on your goal next week ;-)



Monday*: NT
Tuesday*: -40
Wednesday*: UTT
Thursday*: UTT
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: -40
Week's Total Roi %: -1.0%
Accumulative ROI %: +10.4%
:
Name*: Adrian
Location*: Bristol
Demo or Live: Demo

What is really, really important is that you DO NOT beat yourself
up because you had a big negative. You have proved for 4 weeks
previously, that you CAN do this.

You have simply been brought back to earth and rather than
bemoan the negative, LEARN FROM IT and go forward with
renewed confidence, proven to be worthy of it, by the last 4 week's results ;-)


Monday*: +14
Tuesday*: +33, +23, +23, +60
Wednesday*: +62, +72
Thursday*: +104, +50
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +441
Week's Total Roi %: +15.53
Accumulative ROI %: +90.09



:
Name*: Mal
Location*: London
Demo or Live: Live

I'm lost for words at 15.53%. We all know you
are a great live trader, but 15%+ in one week,.....
WELL DONE Mal ;-)



Monday*: +80.3, +23.4, +25.3
Tuesday*: +80.4, +29
Wednesday*: +80.5
Thursday*: NT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +318.9
Week's Total Roi %: +16.91%
Accumulative ROI %: +267.39%



:
Name*: Rhonda
Location*: Scotland
Demo or Live: Live

To be honest, even more so, I really am lost for words.
That's a new record which we all know is not a flsh-in-the-pan
because we have all seen what you can do on a weekly basis
(when you haven't got a migraine ;-)

Once again, I can only say WELL DONE Rhonda...



Monday*: UTT
Tuesday*: UTT
Wednesday*: -17.3
Thursday*: UTT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: -17.3
Week's Total Roi %: -1.44%
Accumulative ROI %: 0.76%
:
Name*: David
Location*: Dorset
Demo or Live: Demo

Unfortunately, you couldnt trade again after your negative
on Wednesday, you have had very limited time this week
to make it up. It's important for you too, to not let this affect
your progress. YYou know from last week that you can do
this and you enjoy the analysis. Just stay cool - it'll be fine
David - take my word for it ;-)


Monday*: +50;-9.7; +63.9
Tuesday*: UTT
Wednesday*: NT
Thursday*: +45;
Friday*: +16.2;+61.3
:
Remarks (Optional): Second goal achieved a week early :)

Thanks again Sid & Rhonda
:
Week's Total Pips: 226.7
Week's Total Roi %: 7.59%
Accumulative ROI %: 65.78%


:
Name*: Mark
Location*: Skipton
Demo or Live: Demo

Once again, your progress has been remarkable Mark.
Very few people achieve 5 smilies in so short a time of
training and trading in demo. As I said to Rhonda above,
so I say to you, 'this 8% week is no flash-in-the-pan,' you've been
leading up to this achievement every week since we seriously
started with the weekly chart.

PLUS - you have completed your two-week goal of 3% per
week for two week in just one week. 3% a week, compounded
with no withdrawals, ends up at 313% in a 48 week year.
My bank is paying LESS that half a percent over the same period.

I would say this is right time, right place for you - and everyone
else in our club....

WELL DONE Mark ;-)


Copyright ForexTrainingWorks 2021