Daily Bulletin

Friday October 1st 2021


Well, you'll see for yourself that it's not just the old hands who can turn in a roundup that earns the magic five smilies. I couldn't be more pleased with the way you guys are all settling in to this trading system.

When I said it would be possible to trade for better returns in a simpler way, even if you had to be in work all day - I think quite a few people said, "Of yeah, when I see it, I'll believe it."

Well - that's exactly what you guys are proving now, time after time. You are seeing it...

I want you to think about this Folks. NO special forex indicators, NO robots, No fancy tools or special charts. NO forecasting gizmos. NO outside help ---- Just YOU, on your own. You are making FAR better returns that anyone I know in this business - and all you've done is to learn to read the weekly chart.

And you'll get better and better at it as your confidence grows. The point is, that understanding the big-picture from assessing the weekly chart - and then trading on that understanding makes you 100% independent traders.

I am up in my helicopter, you guys are in the wood. You don't see the big picture as i do. Believe me, trading from an understanding of the big picture is "intelligent trading" - the closest anyone can come to 'reading the market'

Be happy - persevere and you will never look back ;-)

===============================

Have a terrific weekend....

 


1

Trend Pair*: EUR/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 30/09/21 04:02 PM
Time in Trade*: 3h 43m
Range: (Stop to Entry)*: 60
% 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*: Weekly tested and rejected several times at 130.60 with reversals down to about 128.30. Weekly had reversed again just short of the barrier and was moving down well. Decision from weekly was trade the move down to the support line, being aware of a step at 128.90 and weekly wicks.

Found a pullback in the 1 hour and elected to trade in the 8h with a decent stop. Plan was to target at least TP1. I was confident that this would go down so planned to let the trade run overnight, if in profit.

Trade went well and momentum picked up as a series of speeches took place. The 8h candle was eventually over extended with a pullback likely, so felt it best to TTM.
:
Pips? (+ or -)*: +47
ROI%? (+ or -)*: +1.57
:
Name*: Geoff
Location*: Edinburgh
Demo/Live*: Demo

Excellent Geoff, you've certainly moved up a gear over the last several weeks ;-)


2

Trend Pair*: EUR/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 30/09/21 11:32 AM
Time in Trade*: 4hrs 25mins
Range: (Stop to Entry)*: 45
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 5 stars
Rate The Price Action (1 to 5)*: 5 stars
OVERALL RATING (1 to 5)*: 5 stars
:
:
Relevant Details & Your Plan*: Has moved down from a very significant high of 134.00 in May. Over the passed 10 weeks it has formed a 230 pip channel which was confirmed by the green candle last week when it bounced off the support at 127.90. Nearly traded this move last week but chickened out in case it wasn't really a channel. However I anticipated another move down after it bounced at 130.30. Yesterday I entered from a pull back in the 2hr and enter about 18 pips late of entry point. It fluctuated but didn’t move so I exited before going to bed and checked it again this morning. I redrew grid in 8hr and set EO with a safe exit point of 1%. I know this pair moves with big candles but I was unable to watch it today so played it safe.
:
Pips? (+ or -)*: +24
ROI%? (+ or -)*: +1.1%
:
Name*: Mick
Location*: Skipton
Demo/Live*: Demo

Just a suggestion. Because as yet you are in demo, I think you could push the envelope a little. It would help your development. And - if not now, when?

So I suggest you have a little more confidence in your own assessment ability. if you felt quite positive of your big-picture analysis yesterday (an analysis that I agree with) - then I ask the question, what could change in that assessment over-night?

So I suggest you put your analysis to the test a little more. Don't get out of well-assessed situations because they don't go straight-away. You should not expect them to go straight-away.

Try having a little more confidence, and as long as your gut tells you your analysis is good in the weekly - try standing on that and give your trades a better chance by leaving them alone to do their thing.

I say, if not now when? because getting negatives in demo hurts no-one. Building your confidence is more important than anything else ;-) Grow your confidence in your assessment ability - that's where success is at ;-)


3


Trend Pair*: NZD/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 28/09/21 03:19 PM
Time in Trade*: 2 days 15 hrs
Range: (Stop to Entry)*: 32
% 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)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: After large gains in the weekly for 18 months it then started to reverse. It then gained 400 pips in 2 weeks as the JPY weakened but now looks to be heading down again.
My confidence in this was high enough to let it run and I was also watching it correlate with other JPY pairs which all had downwards momentum.
Decided to TTM as it was going sideways near the low point to the left in the 8hr chart which is where I had realistically expected to exit this trade anyway unless it was racing down.
:
Pips? (+ or -)*: +80
ROI%? (+ or -)*: +2.4
:
Name*: Mal
Location*: London
Demo/Live*: Live

Excellent Mal ;-)


4


Trend Pair*: AUD/CAD
Chart Time-Frame*: 12 hour
Date & UK Time of 1st Entry*: 01/10/21 03:29 AM
Time in Trade*: 4 Hours
Range: (Stop to Entry)*: 46
% of Capital *: 2.0%
Buy or Sell Trade*: Buy
:
:
Rate The Move Steepness (1 to 5)*: 1 star
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 1 star
:
:
Relevant Details & Your Plan*: Weekly sentiment has been down although this pair is beginning to move sideways. Price has fallen since Feb. 2021, falling 700 pips and finding support at 0.9136. This pair has found support at this level starting in May 2013 and only breaking this weekly barrier in July 2018 through June 2020 where it again regained support at 0.9136. This pair has tested this support for the past 6 weeks and with this evidence in mind I made the decision to trade a possible reversal. After four hours and the price not making much gains I decided to exit this trade.
:
Pips? (+ or -)*: -24.8
ROI%? (+ or -)*: -1.14
:
Name*: Phillip
Location*: California
Demo/Live*: Demo

Hope your flu is better... I personally would not have made that assumption. Looking at the weekly, I just find it difficult to say that there is enough evidence that this is going to bounce upwards.

What I weigh-up here is that on the one hand, it has bottomed out - as you say - at around 9139 for several weeks in the recent past. But on the other hand overall sentiment is down since Feb this year and the last three weeks show lower lows and lower highs with a pretty big move down last week.

For my money, I would shy away from a buy, and wait to see what happens here. My own bias is to the downside.

Not saying you were wrong, but maybe I am saying that you made an assumption - which is always a bit dodgy.

I do think that it's very easy to talk ourselves into some trades. I would finish by asking, was there nothing better on offer?

But - you are doing it. We are talking about it. And THAT is a very good thing for you and for me Phil ;-)


5


Trend Pair*: NZD/CAD
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 30/09/21 09:39 AM
Time in Trade*: 4hr 30 min40
Range: (Stop to Entry)*: 20
% 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)*: 3 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: NZD has been weakening across the board. This currency came back into the channel and was heading down strongly over past 3 weeks. Still had room to go to the bottom of the channel again.

Found a pull back in the 8 hr and set an EO which was triggered just before bed.
Unfortunately major mistake with this :( as realised in the morning that had not set SL and so was on default of 20 pips instead of 40 pip SL I calculated for . Stopped out - only saving grace (I suppose) was only 1% as original trade was calculated on a 40 pip range at 2% ....and that leant this lesson in demo!
:
Pips? (+ or -)*: -20
ROI%? (+ or -)*: -1%
:
Name*: Michelle
Location*: NZ
Demo/Live*: Demo

I'm smiling here ------ we've all done it ;-)


6


Trend Pair*: NZD/CAD
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 29/09/21 11:40 AM
Time in Trade*: 1 day 12 3/4 hours
Range: (Stop to Entry)*: 60
% 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)*: 3 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: Dylan posted on Tuesday so I had a revisit. The pair had come back into a zone that it trades in very comfortably. It spent 4 months here before breaking out this last time. I found a nice pullback in the 8 hour chart which happen to also retest the barrier line, bounced and was again moving down. I set my grid with a padded stop and waited. It triggered a little before noon and carried on down. I had a migraine so spent most the day in bed. When I got up it was well on its way to TP1 so I left it. I woke this morning to see that my TP had been triggered.
:
Pips? (+ or -)*: +60
ROI%? (+ or -)*: +2%
:
Name*: Rhonda
Location*: Scotland
Demo/Live*: Live

Good recovery after a 24 hour migraine Rhonda. Good for you ;-)


7

Trend Pair*: EUR/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 30/09/21 11:28 AM
Time in Trade*: 1 day 2hrs
Range: (Stop to Entry)*: 36
% 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)*: 3 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: Weekly has been in a 300 pip channel for 10 weeks having bounced from 134.00 back in June.
My entry was as it bounced back down from the top of this channel and I stuck with it as it bounced off 129.00 a couple of times. It started going sideways again so I exited even though there is room to go down to 128.00 as I decided to end my week on a high.
:
Pips? (+ or -)*: +74
ROI%? (+ or -)*: +2
:
Name*: Mal
Location*: London
Demo/Live*: Live

 

And ending on a weekly high is a great way to finish up, especially after quite a few weeks away. I haven't seen your roundup yet, but it has to be terrific. Well done Mal ;-)


8


Trend Pair*: EUR/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 30/09/21 11:28 AM
Time in Trade*: 4h 28min
Range: (Stop to Entry)*: 32
% of Capital *: 1.0%
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*: The EJ has been moving in a 280pip channel in the weekly since August, with strong and decided up and down moves. After reaching almost the top again it changed direction and started coming down on Wednesday so I watched out for an entry.
A nice pullback candle formed during Wednesday night so before going to work on Thursday I set an entry order a few pips below the first red candle on Sept 29th. It clicked in around noon but hovered around the entry point for some time before it started coming down. Then it drew back up to my entry point before it rapidly moved down again. I moved my TP a few pips below TP1 before leaving work and it was hit while I was on my way to the train station.
:
Pips? (+ or -)*: +33
ROI%? (+ or -)*: +1,02
:
Name*: Ulrike
Location*: Austria
Demo/Live*: Demo

I am sure you are very proud of this trade, and so you should be. Very well done Ulrike. It has not taken you very long to understand and appreciate this trading system. I am impressed ;-)



Monday*: UTT
Tuesday*: NT
Wednesday*: +27 +0
Thursday*: +60 , + 37
Friday*: +24
:
Remarks (Optional): That was fun :-)
:
Week's Total Pips: 148
Week's Total Roi %: 6.15%
Accumulative ROI %:


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

WELL DONE...
This an amazing achievement for you. And it's not
a flash in the pan. Your weekly-chart assessments
are excellent with no assumptions, just what you see.
This weekly ROI is something you can be proud of
and a fabulous encouragement for others...

It's only 3 or 4 weeks ago that we were discussing
your future. Really outstanding Mick .-)



Monday*: -5
Tuesday*: NTT
Wednesday*: +60
Thursday*: UTT
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: +55
Week's Total Roi %: +1.7
Accumulative ROI %: +3.8


:
Name*: Serena
Location*: Cape Town
Demo or Live: Demo

Good Serena ;-)



Monday*: +70
Tuesday*: NT
Wednesday*: NT
Thursday*: NT
Friday*: NT
:
Remarks (Optional): My current weekly target is 2%
:
Week's Total Pips: +70
Week's Total Roi %: +2%
Accumulative ROI %: +3.3%


:
Name*: Dylan
Location*: Barmouth
Demo or Live: Live

Reasssuring for you after such a very long time away ;-)

I don't do goals for live traders. While you were away, it was
an idea to set easily achievable goals for the inexperienced
or not yet successful, on the exposure >> familiarity >> confidence
basis.

As you know, all live traders should make hay when the sun
shines so that they are not searching for pips when the market
is dead. It's the average that counts so it's important when the
market IS moving that we maximise live trading when we get
opportunity ;-)


Monday*: NZ
Tuesday*: +20
Wednesday*: NT
Thursday*: -20
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: 0
Week's Total Roi %: +1%
Accumulative ROI %: +54.15%


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

Commiserations, but you won't let this get to you. You have proved
week after week that you are a good trader Michelle ;-)

But my point above about maximising when the market IS
moving well is illustrated here. Michelle has had a personal
2% weekly goal in her mind for going live. But far better to achieve
more when the sun is shining. It means weeks like this do not the
dent your average. You'll take this point Michelle?


Monday*: UTT
Tuesday*: +32
Wednesday*: +25.1
Thursday*: NT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +57.1
Week's Total Roi %: +2.76
Accumulative ROI %: +13.31


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

Good Clare, it is lovely to see you positive
and earning smilies. Well done ;-)


Monday*: NT
Tuesday*: NT
Wednesday*: +49, +77, +80
Thursday*: NT
Friday*: +80, +74
:
Remarks (Optional): Although I only show trades on 2 days most were long term trades taken over multiple days. Have shown trades on the days they were closed.
:
Week's Total Pips: +360
Week's Total Roi %: +10.85
Accumulative ROI %: +101.97


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

WELL DONE Mal. A fabulous ROI which
is worth double that if you were trading 2%.

That's such a great come-back after weeks off,
and hectic weeks too. Excellent....


Monday*: NT
Tuesday*: -38.4
Wednesday*: +34.0, +0.5
Thursday*: -20.7
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: -24.6
Week's Total Roi %: -1.3%
Accumulative ROI %: +10.3%
:
Name*: Adrian
Location*: Bristol
Demo or Live: Demo

Don't get down about this. You know you can
trade - you just need to spend a little more time
on your assessment of the big-picture. It WILL
come. You did so well in your early goals, this
is bound to disappoint because you are human.
But you are NOT the first, and you won't be the last
to have to suck it up and start again ;-)



Monday*: NT
Tuesday*: NT
Wednesday*: +31, +52.3, +94.2
Thursday*: UTT
Friday*: +60
:
Remarks (Optional):
:
Week's Total Pips: +237.5
Week's Total Roi %: +7.51%
Accumulative ROI %: +367.44%


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

Excellent Rhonda. No trades, Monday or
Tuesday, no trading on Thursday and you
still turned in a brilliant 7.5%...
WELL DONE ;-)


Monday*: +17.2
Tuesday*: NT
Wednesday*: NT
Thursday*: NT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +17.2
Week's Total Roi %: +1.01%
Accumulative ROI %: +4.84%


:
Name*: David
Location*: Dorset
Demo or Live: Demo

Well done. You reached your goal
and stopped trading. Just what we
agreed. Well done David ;-)



Monday*: NT
Tuesday*: 0
Wednesday*: NT
Thursday*: +47
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +47
Week's Total Roi %: +1.57
Accumulative ROI %: +35.73


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

And an excellent thirsd week at 1.5%, right on the nose
for your three-week goal too Geoff. Well done...

I am impressed by your assessments of the weekly, your reports
and your trading. I think you have done exceptionally well.


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