Boris and Kathy's FX Blog www.bktraderfx.com

Frequently Asked Questions

What Is Your Trading Philosophy?

We practice what we call “High Probability Trading.” Even though we are resident analysts at DailyFX.com, we are traders first and analysts second. In order to achieve this, every single one of our trades are a fusion of both fundamental and technical analysis. We also believe that money management is just as important as the entry, which is why we practice defensive trading. This means that we try to bank profits as often as possible regardless of the size and reduce our risk in the market as early as possible. In order to achieve this, we usually trade lot sizes in multiples of 2. There is always a first target (known as T1) and a second target (known as T2). It is our rule of thumb that whenever T1 is reached, we move our stop on the remaining position to breakeven (the entry price) so that there is no longer any real risk and we have banked a portion of the profits. This allows us to NEVER TURN A WINNER INTO A LOSER.

When Did You Start This Service?

We started this site on September 20th, 2006 and gave our first free trading signal on October 1, 2006.

Is This Service an FXCM Product?

This service is independent of FXCM and DailyFX.

What Type of Account Should I Trade? What Leverage?

Your account size is dependent upon how much funds you have available for trading. Smaller account holders should use mini lots while larger accounts should trade regular lots. We typically recommend no more than 10 to 1 leverage.

How Often Do You Send Out Alerts? What Times?

We send out alerts at least once a day. Depending upon how busy the trading day is, you can expect to receive 1 to 2 trade alerts with possibly 2 to 4 follow-up emails on those alerts. We are your eyes and ears into the market and there are two of us so we are watching for trades 24 hours a day. This means that these ideas may come at any time during the day, which include both the European and US trading sessions. The easiest way is to sign up your cell phone numbers as well.

Do You Take Into Account the Spread on Your Stop or Targets?

Yes, we actually do account for the spread already when setting our stop or targets, so you do not need to add any additional “buffer” (unless you want to of course). However, each broker has different spreads so for your guide, our spreads and price feeds are based upon FXCM and Oanda.

Do you place the orders in the market yourself and if yes how fast after you place your orders do you forward the positions to subscribers?

We place the orders after we receive the email alert in our own email boxes to be on par with subs. Sometimes we get better execution sometimes worse.

What Happens if My Broker Does not offer the Currency Pair that you trade?

There are many brokers that offer a very diverse set of currency pairs including FXCM and Oanda. Should your broker not offer the currency pair that we are recommending, you can always do a “synthetic trade” using the legs of the currencies. For example, if we recommended long AUD/CAD, a synthetic trade would be going long AUD/USD and long USD/CAD. They amounts are slightly different because the AUD/USD has a higher pip value than USD/CAD but that is just a simple mathematical calculation. You can also pass this trade up, there will be many others but if you choose to take it, you would need to watch carefully and manually because you would not be able to put in proper stops and limits if you did a synthetic trade.

Where Can I Find How Economic Releases Were Released Quickly and Free?

For US news, CNBC is the fastest source of information. Most brokers offer real-time news feeds including FXCM, which has the IFR News plugin for both demo and live account holders.

Can You Tell Me What You Think About My Trade?

We do not give personalized trading advice.

I am Getting Your Emails Late! What Can I do About This?

Email delays are usually a function of your email provider. Yahoo seems to have the biggest problems, we recommend Gmail. We are also doing our best to find ways to reduce this problem as well and to increase efficiency, but we have found that most issues are resolved once subscribers add our email to their address book. What you can do is make sure that you add bktrader@gmail.com into your known or safe list. If we send mail to someone who has not put us on these "known" lists, our mail is still being delivered but can be subject to many additional filters. If it does not get bounced but does not land in the inbox, it is most likely in the bulk folder or grossly delayed. This can change with every mailing that we send due to the ISPs dynamic content filtering. For certain email providers, you may also need to reduce your filtering level and add our address to your safe list.

Why Are You Guys Giving All These Great Trades for Free? Will You Guys Eventually Charge for this Service?

We will move to subscription model in a month or two, but will always keep part of the service for free. We want to be upfront with this – the price range will probably be between $85-100 US dollars a month.