Daily Bulletin

Friday October 15th 2021


In yesterday's bulletin I mentioned that things often happen when you don't expect it, and that you should stay alert to the possibility. And as if to prove my point, Rhonda added to Dylan's terrific 4% trade on Tuesday by clocking in yet another 4% trade today.

I know I keep banging-on about this, but 4% from ONE trade, twice this week. I love it ;-)

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

Have a brillant weekend folks...


1

Trend Pair*: USD/CAD
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 14/10/21 10:27 AM
Time in Trade*: 4hr, 26min
Range: (Stop to Entry)*: 20
% 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)*: 3 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: Weekly had been rejected from 1.2890 at the end of last month with a strong downward trend for the last 3 weeks making lower highs and lower lows, repeating a similar pattern from Sept - Dec '18. Good price action this morning so found a pullback in the 1hr, extended my stop and monitored in the 8hr. No significant barrier in the path. Price went back and forth for some time before resuming a good push down to TP1.
:
Pips? (+ or -)*: +20.2
ROI%? (+ or -)*: +2.2
:
Name*: Clare
Location*: Saffron Walden
Demo/Live*: Demo

That's a good trade, and I think in normal circumstances you would have locked in some profit and gone for more. However, I do understand that you needed to grab some pips to bolster your confidence, so well done ;-)


2

Trend Pair*: GBP/USD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 14/10/21 06:15 AM
Time in Trade*: 8.75 hrs
Range: (Stop to Entry)*: 58
% of Capital *: 0.5%
Buy or Sell Trade*: Buy
:
:
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*: After clearing a high in the weekly from Sept. 2017 by about 20 pips, and with about 220 pips to climb, I began to feel comfortable with this pair. I struggled to find a pull back, but settled on the 4 hour chart. At around 1 am (in Cali), and up about 45 pips, I had to sleep. I decided to place TP at TP1 and my stop at my entry. I woke up hours later to find that I missed TP1 by about about 4 pips, and was stopped out. If I periodically wake up to baby-sit a trade , I'm tired the next day. No harm done though. Almost a winner.
:
Pips? (+ or -)*: - .3
ROI%? (+ or -)*: - .005%
:
Name*: Andrew
Location*: Long Beach, CA
Demo/Live*: Demo

 

Andrew, let me ask you to take-to-heart what I am going to type next...

One of my challenges is that within the membership of the ET&S there are people who trade a great deal and there are people who trade infrequently, and in between those two extremes there are others who's trading experience is at many different levels. Each individual is on a special journey of development because absolutely nobody goes from novice to expert in one leap. So it's very difficult to give blanket advice that will suit everyone.


So, I believe this is an ideal time to look at a little one-on-one advice just for you...

Up to now, because of whatever goes on in your life, you have been an infrequent trader, which means you have had almost no time to build familiarity and self-confidence in your trading.

At this stage of your personal development you must concentrate on confidence-building and not on trying for 'big returns.' And the best way to do that is to always finish a trade feeling good.

When you went to bed last night, you had 45 pips in a 58 pip range, that's just over three-quarters of a percent ROI. That was a great return and you should have closed the trade and grabbed the pips. You would then have woken up this morning with a succesful trade under your belt instead of disappointment.

On it's own, that difference in feeling and perception of ability alone, has a huge effect on your subconscious confidence level. This is really important. Your personal goal at this stage of your development should be a simple two positive trades a week, no more no less. If you could do that - even for very small pips - you subconscious will start to believe that you CAN do this.

It is when you reach THAT point - that you start to develop into a real, money-making trader. So my advice to you is to take the pressure off - and settle down for just a few weeks at the most, of two positive trades a week - no matter how big or small . That'll work wonders - try it and see ;-)

------

Second. Please increase your stake to 2% of capital. Please do this straight away. You are a demo trader, you can do no harm. Trust me on this Andrew ;-)


3


Trend Pair*: EUR/USD
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 14/10/21 08:08 AM
Time in Trade*: 2h
Range: (Stop to Entry)*: 24
% of Capital *: 2.0%
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)*: 2 stars
:
:
Relevant Details & Your Plan*: I had to leave Wednesday's meeting early, so wasn't present for the analysis you did right at the end on this pair. That was until I listened to the recording again, as I usually do, the next day. So I wasn't aware of the comments and views until after my trade. I agree with all of the sentiments, the pair is near/past the barrier at 1.600 from Sept and Nov last year. The pair is in a downtrend. But I did see that there was a historic barrier from Nov 17, at 1.1540, where price was rejected. I know it's a long way back, and I didn't have a line on my chart for that reason. But when price did react to this level and a set-up presented itself with good steepness and price action I decided to trade it. Although I rated the steepness and the price action, both 4, my overall rating was 2, as it was against the trend and likely to be a pull-back in the weekly. Accordingly I managed the trade based on that rating, and watched it like a hawk and gave it zero room to come back. When it stalled, which was at my 1% ROI, I grabbed the money and exited.
:
Pips? (+ or -)*: +12
ROI%? (+ or -)*: +1%
:
Name*: Dylan
Location*: Barmouth
Demo/Live*: Live

 

I'm sitting here smiling Dylan... **Smile**


4

Trend Pair*: EUR/JPY
Chart Time-Frame*: 8 hour
Date & UK Time of 1st Entry*: 13/10/21 11:36 AM
Time in Trade*: 1 day 18 1/2 hours
Range: (Stop to Entry)*: 50
% of Capital *: 2.0%
Buy or Sell Trade*: Buy
:
:
Rate The Move Steepness (1 to 5)*: 3 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: Pair had broken out of the range it was trading in for the past 3 months. I was watching to see if it was going to go back into the range. It never really tested the range top again but rather went sideways for a while. I found a pullback in the 8 hour chart, set my grid with a padded stop and waited for the break. It didn't take long to trigger but it it did pullback again before moving forward. From then on it was fairly steady on up. When I last checked it before bed it was at TP1. I locked in 1%, moved my TP to TP2 and let it go. Woke to find my TP2 had been triggered. Yahoo! :-)

Side note: I did check how all the other JPY pairs were fairing as on Wednesday night most of them were in similar formations. That remained the case and all were poised to move or were already moving so I decided to go for it.
:
Pips? (+ or -)*: +100
ROI%? (+ or -)*: +4%
:
Name*: Rhonda
Location*: Scotland
Demo/Live*: Live

This was a lovely trade with a massive 4% return, and the fact is that it was there for anyone to take. I'm going to show this on a weekly chart below. I want the less experienced to see that this was not rocket science

Rhonda put her entry-order about 160 pips above the top level of the sideways channel. 160 pips was far enough away to safely assume, if it got this far, it was worth a trade (shown as the lower yellow line). But if the break-out turned out to be only a damp-squib, it was far enough away not to trigger. So that's part 1 of the plan.

Note that she used a 'padded' stop, which simply means that she gace it extra room for it to come back if it did trigger, which helped her to feel secure, with much less chance of being stopped out. (Padded simply means she extended it more than 3 pips behind).

Instead of automatically taking her 2% at TP!, she moved her stop up to lock in 1% so that she was in a guaranteed profit situation and couldn't lose - then moved her take-proft from TP1 to TP2.

Rhonda's entry and exit are marked in yellow, classically taking the safe middle out of the move ;-)

 


5

Trend Pair*: GBP/USD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 15/10/21 07:54 AM
Time in Trade*: 19mins
Range: (Stop to Entry)*: 38
% of Capital *: 2.0%
Buy or Sell Trade*: Buy
:
:
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*: For 14 weeks this pair had been in a sideways channel of about 300 pips. Two weeks ago it spiked out of the bottom of the channel(1.3600), and last week closed at the channel bottom. This week it has continued moving up from the channel bottom, so I looked for a possible buy trade. Before I entered the trade I decided to close it out at TP0.5 because my last two weeks have been negative and I think its more important to build confidence and finish this week on a positive. Also its close to this weeks high.

This trade went positive straight away and never looked back. I closed out as per my plan.
:
Pips? (+ or -)*: +19.7
ROI%? (+ or -)*: +1.03%
:
Name*: Adrian
Location*: Bristol
Demo/Live*: Demo

You and I are both pleased to see this nice trade and good explanation Adrian. Well done ;-)


6


Trend Pair*: EUR/NZD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 14/10/21 12:52 PM
Time in Trade*: 18h 16m
Range: (Stop to Entry)*: 70
% 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)*: 4 stars
OVERALL RATING (1 to 5)*: 4 stars
:
:
Relevant Details & Your Plan*: Weekly E/Z has been in a range since march this year and has just broken the lower range line (white). I could see that I was a bit late to the breakout and was aware of weekly wicks left which had pushed out of the range. Decision was to sell as the move was good and there was enough room to the next barrier for a trade.

The 4H chart confirmed the strength of the breakout and a 1H pullback candle gave me my entry point. Set a grid with a wide stop. The plan was to target TP1 and keep a close watch as the pair approached the next barrier at 1.6424.

The actual trade was slow but I was confident in my analysis and I let the trade run overnight. A check early this morning found the trade had stopped a few pips short of the TP1 line and was reversing. Decided to TTM.
:
Pips? (+ or -)*: +55
ROI%? (+ or -)*: +1.57
:
Name*: Geoff
Location*: Edinburgh
Demo/Live*: Demo

Lovely trade Geoff with a nice ROI. Good job ;-)


7

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Trend Pair*: USD/CAD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 14/10/21 02:42 PM
Time in Trade*: 17 hrs 12 min
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*: The 1.2450 line has been an important price level for this currency since March 2021 moving downward below and then above for the last 3 months. Last weeks move down indicated it was moving down below again and this weeks movement confirmed. There was a pullback after a continued down move so I set the entry from the grid it provided. TP1 auto triggered and closed 7:54am UK
:
Pips? (+ or -)*: +21
ROI%? (+ or -)*: +2.1%
:
Name*: Jim
Location*: Chapel Hill
Demo/Live*: Demo

Lovely Jim and I am pleeased to see it. I cannot remember when I last had a negative trade from you. Your slide from your old carrer to this new one seems to be on track ;-)


8


Trend Pair*: CHF/JPY
Chart Time-Frame*: 12 hour
Date & UK Time of 1st Entry*: 14/10/21 12:40 PM
Time in Trade*: 18hr 12 min
Range: (Stop to Entry)*: 35
% of Capital *: 2.0%
Buy or Sell Trade*: Buy
:
:
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*: I noted Rhonda's alert on this currency yesterday and liked this weeks breakout above the price level from June this year. I agree with her there was little to stop the rise if legitimately breaks out. I found a pullback in the 12 hr chart and set an Entry order. I allowed this to run into the night and TP1 auto triggered.
:
Pips? (+ or -)*: +32 pips
ROI%? (+ or -)*: +1.83%
:
Name*: Jim
Location*: Chapel Hill
Demo/Live*: Demo

Another good effot. I can see that like many others now, you are really enjoying getting to grips with the weekly chart. Fabulous stuff. Well done ;-)


I am not doing 'goals' today. We need to reset them ;-)

NT = "No Trade"
UTT = " Unable To Trade"


Monday*: NT
Tuesday*: NT
Wednesday*: UTT
Thursday*: NT
Friday*: +19.7
:
Remarks (Optional):
:
Week's Total Pips: +19.7
Week's Total Roi %: +1.03%
Accumulative ROI %: +10.0%


:
Name*: Adrian
Location*: Bristol

Yu know better that anyone just how two positive
trades per week for a few weeks changes your
whole perception of your abilities. I feel we should
set another easily achi vable goal for you.
Have a think and email me ;-)



Monday*: NT
Tuesday*: -40
Wednesday*: NT
Thursday*: +20.2
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: -19.8
Week's Total Roi %: +0.14
Accumulative ROI %: +15.65
:
Name*: Clare
Location*: Saffron Walden
Demo or Live: Demo

Well, you, unuaually had a bit of an unfortunate
happening at the beginning of the week, But it
was just another part of the learning curve.
Yours is flattening all the time now.

You'll be fine, I am happy with you ;-)


Monday*: NT
Tuesday*: +120
Wednesday*: -17
Thursday*: +12
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +115
Week's Total Roi %: 4.5%
Accumulative ROI %: +6.5%


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

WELL DONE - it's your second week back and
you have much to happy about. With a 4% trade

in the bag on a tuesday, you don't need too much
else do you? Especially when it's real money ;-)



Monday*: +51.5
Tuesday*: NT
Wednesday*: UTT
Thursday*: UTT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +51.5
Week's Total Roi %: +2.0
Accumulative ROI %: +8.67%


:
Name*: Jesse
Location*: Wisconsin
Demo or Live: Demo

I've said it before Jesse, I will say it again...
You'd be an awesome earner if you could
give it more time. Especially now we area

using the weekly - it doesn't matter where
in the world you live any more ;-)



Monday*: NT
Tuesday*: NT
Wednesday*: NT
Thursday*: +21, +57
Friday*: NT
:
I have added last weeks 2% to my accumulative, as it wouldn't let me post. hope this is okay :)
:
Week's Total Pips: +78
Week's Total Roi %: +2.14%
Accumulative ROI %: +51.24%


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

Perfectly right Alison. Them's real figures.
Well done ;-)


Monday*: +36, +61
Tuesday*: NT
Wednesday*: NT
Thursday*: NT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +97
Week's Total Roi %: 3%
Accumulativ e ROI %:


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

WELL DONE Mick. One good week could
be a fluke, 3% is another good week amd
no accident ;-)



Monday*: +30
Tuesday*: +106.4, +27
Wednesday*: NT
Thursday*: NT
Friday*: +100
:
Remarks (Optional):
:
Week's Total Pips: +263.4
Week's Total Roi %: +10.46%
Accumulative ROI %: +430.67%


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

Don't know what to say to you Rhonda
I'm
running out of superlatives...

WELL DONE - that is one more fabulous week...
Mal will be gnashing his teeth because he can't trade at
at the moment, but I know he'll be looking at this and
itching to give you a run for your money ;-)



Monday*: NT
Tuesday*: NT
Wednesday*: NT
Thursday*: +53
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +53
Week's Total Roi %: +3.93%
Accumulative ROI %: +31.94%


:
Name*: Jim
Location*: Chapel Hill
Demo or Live: Demo

WELL DONE JIm. I've streched a little to
give you four smilies, but you are almost
there. What do you think your results would

look like if you took this seriously ? ;-)


Monday*: +55
Tuesday*: NT
Wednesday*: NT
Thursday*: +55
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +110
Week's Total Roi %: +2.91
Accumulative ROI %: +38.80


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

Well I stretched yours a little too Geoff you are
almost on 3% and therefore just a whisker of a
WELL DONE so I'll give you one anyway.

Good job. Your trading is terrific since you got
serious. I am impressed - no kidding.

I know you are going live imminently I think you
have built an excellent base for that ;-)


Monday*: +30;+30;+15
Tuesday*: UTT
Wednesday*: UTT
Thursday*: UTT
Friday*: NT
:
Busy week away from FX for me unfortunately
:
Week's Total Pips: 65
Week's Total Roi %: 2.5
Accumulative ROI %: 80.56


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

You are an very competent and excellent
trader. I know that time is your issue. But I
look foward to great things from you as and when
you can get down to it. You are capable of doing
2% a day Mark - no doubt ;-)


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