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

Welcome to our weekly review. We’ve had good and busy week and have many topics to cover, so let’s get started.




Trading Adjustments



We’ve modified our trading approach to better accommodate both - requests from you and the format of the newsletter. Instead of trading two units on each position with a very short term profit target on the first unit and a longer profit target on the second unit we are now trading just one unit with a more intermediate target. Why did we do this?



1. Using two units on every trade unnecessarily increased our risk. (a –35 point stop turned into a –70 point loss)
2. The short term target of 15-20 points was just too short term for many traders who weren’t glued to their computers as it often happened in a matter of a few minutes.



Clearly the change has produced much better results as it created trades with an average profit of 40 points or more that was achieved in much more relaxed fashion over three to twelve hours of trading. In fact for those of you looking to get an approximate idea of the types of trades that we do the above serves as a good description. Essentially we look to put on trades that will last anywhere between an hour and twelve hours ( with most probably lasting 6-8 hours ) targeting anywhere between 40 to 90 points of profit per trade.



If you missed any particular trade. DON”T WORRY. We run one the most intense advisory newsletters on Wall Street, generating more trade ideas in a month than most people do in a year. This month alone we traded more than 20 times and the month is not even over. Furthermore, we run a full 24 hour operation with Boris managing the book during late Asia and early Europe and Kathy taking over during North America and through the Asian open. You – our subscribers are dispersed from Sydney to London to New York and all points in between and we will generate ideas during all time zones, so everyone can participate during their waking hours. Furthermore on certain strategic trades we’ve introduced the use of the stop entry order this week which allows you pre-plan your entry into the market. (For more info on stop-entry please refer to our earlier emails)



One final critical point. As most of you know, but some of you may not – the FX market is a decentralized market. That means everyone may see a slightly different price and a slightly different bid-ask spread. For the purpose of the newsletter we trade an account at Oanda and use their price feed as the reference source for all of our trade calls. Some of you have asked why we do not execute our trades through FXCM since we are both strategists there. Several reasons. First, the BKForexAdvisor is a completely separate venture from our duties at FXCM and has absolutely no connection to it. Second and far more important reason is that we simply can not trade through our own firm due to conflicts of interest since FXCM is a market maker.



We by no means endorse Oanda or for that matter any market maker in FX. We suggest you find the one that suits your needs best. Our only recommendation is to trade with a NFA regulated market maker – but even that is certainly your own choice. For the purposes of the newsletter however you should understand that we use Oanda as reference point for our trades and your own trades may at times be done at somewhat better or slightly worse prices depending on when and with whom you trade. So please understand that ahead of time and make adjustments accordingly.




Trade Delivery Channels
The Internet is a wonderful place, but sometimes it can be unreliable. We understand that issue quite well. That is why we are in the process of setting five separate channels for delivery of trade signals, so that if one source fails you can still get timely information from another source. In the next week we plan to do the following:

1. Delivery of text messages to North American cell phones.
We will be able to send a text message directly to your cell phone number. You will not need to provide us with any other information expect the phone number itself. This will make the process much easier for everyone.



2. Global access to one way chat room with audible as well as text alerts.

This week we will create a java based chat area on the bkadvisor website that will require absolutely no additional software from you except a web browser. This chat room will deliver the full text of trade alerts along with an audible alert ( for those who choose to have their computer alert them) This will by far be the fastest and easiest way to get the latest alerts since it will post to the chat room the instant we hit the submit button.



3. Delivery of text messages to Global cell phones

We are working on this capability and will hopefully have it implemented within the next 10 business days. We’ll keep you apprised.





In addition we also have plans to deliver alerts by Instant messenger and cell phone accessible web pages – and will keep you informed on the status of those projects.



Now let’s finally get to the trade review


USDCAD +15



This was a very fast trade based on an rebound in oil theme. The move started to go our way but quickly reversed as CAD remained very spiky due to the volatility in the oil market. We went to breakeven right away after reaching T1. For those of you who did not get the exact print the important thing to remember is that when we send out an alert that we are going top break even you should move your stops there regardless of whether you’ve been executed or not. Given the fact that we will not be trading two units anymore this problem should not arise going forward.


NZDUSD + 40



This was a good trade based on the idea that carry trade demand would push the kiwi higher and we exited it quite properly just as upward momentum was beginning to tire.


EURGBP + 11

A great trade and we only wished we could have gotten more, but it illustrates quite well the real time decisions you have to make when trading. The entry was just right since we had a bullish hammer formation on the daily and very dovish remarks from Mervyn King suggesting that for now BoE was done. The trade went our way and we went to breakeven when its was 11 point in the money. After the release of Bow minutes the price action spike to +25 in our favor but retraced so quickly we had no chance to take advantage of it. At this point we had a very difficult decision to make. Do we risk losing all our built in profit or do we try to lock some in? The logical move of the stop was to 6575 See chart here. http://docs.google.com/View?docid=dn8z7zs_53drpmgb

However, that would mean our profit would be miniscule, so we opted for a Solomonic compromise of moving the stop to 6580 for +11 and alas were take out before price returned to 6695.


AUDJPY +40 AUDJPY +35

Both of these trades were terrific uses of the major story of the week which was the shockingly low AUD inflation numbers that essentially put a halt to any speculation that RBA would raise rates further and caused massive carry trade liquidations in AUDJPY. Many of you complemented our time exit on the second trade but we simply used the spike low as the reference point. See chart here. http://docs.google.com/View?docid=dn8z7zs_57fpdncs


GBPCHF +5

This was a trade that really didn’t work, based it was on the assumption of further carry trade unwinding. When Japanese CPI came in very flat we were smart enough to recognize we were wrong and high tailed it out of there before it moved against us. This trade serves as a good example of the motto we live by, first spoken by the greatest trader/economist the world has ever seen – John Maynard Keynes. Keynes remarked, “When facts change, I change. What do you do sir?” We try practice that approach as much as we can.



Have a great week-end. Look for the Sunday Night Huddle in your email boxes and we will talk to all of you next week



B & K

First as usual we want to welcome all the new members especially all those that joined us on Friday. This week we are moving to a new format where we will try to offer two trade calls during the global trading day – one during late Asia early Europe session (5:00GMT-10:GMT) and one during late Europe early North America (13:00 GMT – 18:GMT) in order to better accommodate our subscribers across the world. Of course not every day will present a setup but generally you should see more trade ideas from us as well continued educational content on new trading strategies and important news developments in FX.



This week was a good example of low volatility range bound environment with few good ideas and we only traded twice. The only real play this week was in the USDJPY where we thought the BOJ would raise rates but the Japanese central bankers bowed to political pressure and decided to stay pat keeping rates at 25bp. For now the market has reluctantly accepted the BoJ decision, but with ever growing divergence between the yen and the other major currencies as well as yen and the Chinese yuan, this passivity on the part of the Japanese monetary authorities is clearly unsustainable and could lead to serious political protests if yen weakness continues much further.



Read our special report here http://www.dailyfx.com/story/special_report/special_reports/Yuan_and_Hong_Kong_Dollar_1168630109448.html



In any event we tried to play the yen story by shorting EURJPY and although we never got the trade off – it turned out to be the best decision of the week. Why? Because trading is the art of BOTH picking winners and avoiding losers. By using our stop entry method we avoided the unnecessary risk as news flow clearly ran counter to our expectations



Here is a recap of the explanation for those of you who missed our Thursday update.



“Next on the agenda is an in-depth discussion of the stop entry order and why we intend to use it with much greater frequency from now on. What is a stop entry order? It is actually a limit order that directs the trader to enter the trade at a WORSE price than the current market price. For example let’s say EURUSD is trading at 1.2920-1.2923 and you want to get short on a stop entry order at 1.2895. That means you will enter the trade only if EURUSD trades down to 1.2895 and will get short the pair at that point.



At first this tactic seems counter intuitive. Why would you want to sell something for less that what you can sell it for now? The answer lies in the fact that you do not know ahead of time if the pair will in fact will trade down. Every trade is simply nothing more than an educated guess. A stop entry order helps to confirm your initial trade analysis because if it is triggered that means that price is moving in the direction you predicted.



Does that mean the stop entry order always works? Of course not. Prices often break in your direction and then reverse. That’s part of trading and that why professionals always use stops to control and mitigate the unexpected. Nevertheless, the stop entry order is a good strategy because it creates a rigorous, logical approach to trade management by providing unambiguous entry and exit points”



Let’s now turn to the analysis of our two trades this week.


Short USDCAD 1.1682 + 20

We’ve been hunting this setup endlessly over the past two weeks and will likely return to it next week as well. The central theme in that trade is that Canadian dollar is oversold, Canadian economic data has been remarkably robust (note the stellar labor data two weeks ago and massive inflow of foregn capital this week) and the only factor that has held back the loonie has been the ever sinking oil prices caused by unseasonably warm temperatures in the Continental United States ( thank you global warming!) . Yet as we sit here in our local Starbucks in New York the weather this Saturday morning is far January like with temperatures dropping into the teens. As oil begins to bottom out and demand firms prices, the loonie should rally in turn. The only question has been to find the entries into the pair. Right now we are watching the 1.1710 barrier as key support level. If that zone breaks the pair could easily make its way back to mid 1.6000’s by early next week.


Short EURUSD 1.2914 –42



This was a mediocre trade – we were trading the good US news/lackluster EZ news idea – but should have waited until the pair confirmed our thesis and broke the 1.2890 support before coming into the trade. Furthermore, with dollar rally already long in the tooth, good news was having less and less impact as the pair was coming into the zone of support on the daily chart. Indeed what verticalized the euro, wasn’t any particular positive sentiment towards EZ economy, but sovereign demand from global central banks, who tend to be buyers and sellers strictly on price ignoring near term factors. Because of their massive size however, they can move markets irrespective of the news and that is exactly what happened in this case


EURCAD Box Trade



This week we also showed you the EURCAD box trade and wanted to share with you some of the reactions from your fellows subs.



Several key points to keep in mind about EURCAD pair.



1. Not all brokers offer it

2. Some brokers have very wide spreads on the pair which make the setup much more impractical to trade



This simply the facts of life in the FX business and the easiest way to overcome this problem is to do what most seasoned retail traders do – open accounts with several dealers.



As you know for own trades we use FXCM No dealing desk option and Oanda. While we never want to recommend any specific broker we do suggest you do your own research – a good place to start is www.fxstreet.com which lists most of the major dealers in the world. Our one final caveat is that we strongly urge you to trade with an NFA regulated dealer, but as always this is strictly individual decision and we simply offer our thoughts as point or reference for your own research.





Here, then are some of the EURCAD comments



Great insight, It will be interesting to see how you define your box. Your examples show a variation of time spans. Rob's box generally is defined from midnight to 7 am eastern. I really like the breakout box on all the major pairs as well. A ranging market is tough to manage consistently, with the amount of consolidation being the key to a good breakout trade. Thanks for all you do!

Gary



Hi guys, just wanted to let you know that this idea worked last night very nice. First lot was filled long at 1.5238 at 02:00GMT and an hour later and with 20 pips profit it was closed. Unfortuantely I wasn't awake to trail the stop in the second lot so i got out of it this morning with a loss but it doesn't really matter. I think that i might be putting a tighter stop in the second lot, maybe at breakeven point, so that i don't take a loss in case i don't hit the second profit target..

Cheers,
Alex



Hi!

I have been experimenting with an idea that seems to work, but you have to be a nite owl.



I put a vertical line on midnight. Then, I look at the 30 min ROI on the CFG SmartCharts. I drill down to the 5 minute ROI for agreement & enter. My entries are positive. However, I haven't developed the art of targeting & usually get nervous & take profits before the full extent of the move.



The EURCAD was great this morning.



Can you provide help for the targeting & perhaps find suggested calls for this time frame? You could call it the "Wee Hours Trade" or the "Insomniac Trade". :)



Best regards,

Charla
Long EURGBP on watch



Finally, we also want to leave with what we are watching for trade at the start of this week. We like the EURGBP pair for a bounce to the upside, strictly on a statistical basis.

Since the launch of the euro in 1999, there have only been 4 instances where moves in EURGBP have extended 9 trading days (having reversed on the 10th) and only 1 instance where it has extended beyond 9 trading days which was back in august of 2005. This move exhausted on the 11th trading day. With pair having made a double bottom on Friday we want to see it opens on Sunday and may send you an alert then.



Have a great week-end

Boris and Kathy

Week in Review:

Some wise man once said don’t ever watch sausage or politics being made. He may as well have been talking about trading because behind every gleaming hedge find return lie many dumb trades hidden from investors eyes. All of this in no way serves as an excuse for some of the boneheaded calls we’ve made this week and we will deconstruct every one of our trades to separate the good, the bad and the ugly later on. But before we begin we wanted to step back, welcome many of you new to the service and also take a few moments to familiarize you with our goals, our style and our future intentions for the BKForexAdvisor.

Our two primary goals with this newsletter are

1. Trade ideas
2. Trading education

We aim to harvest between 150-200 total points of profit per month seeking to generate a return between 18%-24% per year without leverage or 180%-240% if you areusing 10:1 leverage. No doubt these are ambitious goals and of course there is absolutely no guarantee that we will meet them or not lose money. We try to achieve these goals by taking 3-5 trades per week using small amount of risk. The irony of course is that by taking more frequent trades with tight stops we will likely have more misses. Sometimes the process can be painful when we miss several trades in a row. We know and deeply appreciate that fact and will work very hard on trying to minimize these drawdowns going forward. But please know this - we always try to control risk and since our misses are limited they are easily recoverable and therefore we generally stand a reasonable chance of making our target of 100-200 points every month. Some of you have asked us to offer longer trade ideas that require less intensive watching of the markets and we will introduce those recommendations in the near future. So to summarize:

1. Our goal is to make 150-200 points per month
2. We take 3-5 trades per week (Closer to 3 rather 5)
3. We will soon introduce 1 longer term trade idea per week
4. On the days when we issue no recommendations we will present interesting research or new trading strategy so that you will get a benefit from BKFoprexAdvisor every working day of the week.

To start your free trial, visit bkforexadvisor.com

Now let’s review our trading style. There are three types of trading techniques we utilize.


1. Two lot Scale out.

This is our most common technique where we enter a trade at market with 2 lots. We set a relatively tight stop usually no more than 30-40 points and then set two targets. Our first target that we call T1 is very conservative as we are trying to essentially make sure that our trade thesis is correct, book a little profit and reduce our risk. Our T2 target is much more aggressive usually at least three times our risk. When our T1 is hit we move the stop on the rest of the position and target our T2 limit. Typically we hit our T2 target 1/3 of the time and although they are relatively rare, it is those trades that produce the bulk of the profits.

2. The One and One

In this method we enter only with one lot and one take profit target and then put out a limit order to see if we can get a second lot at a better price than the current market and put a much bigger take profit on the second lot. We put the same stop on both orders. This technique is used with selling key technical breaks. Sometimes when price breaks support and resistance it continues straight in the direction of the break. Sometimes however it retraces somewhat before creating enough momentum to follow the initial impulse. Because mo one ever knows ahead of time when one or the other scenario will happen, we use this technique to provide us with a higher probability of success by allowing us to get a blended price with less risk.


Figure one illustrates the 1 in 1 on the NZD/USD

Figure 1

3. The One and One with Limits

While the one and one strategy is good it has a drawback. By waiting for support or resistance to be broken and then entering at market, the trader is often late to the trade and gets a bad entry price on the first lot typically near the low of the move. The one and one with limits is designed to combat that problem.

Following are the rules for a break of support – the rules for a break of resistance are simply reversed.


1. Set a limit order to sell a few points below resistance for one lot only

2. Set a limit order above the breakdown level in case price retraces

3. Set the same stop for both lots

4. Use the standard T1 and T2 scale out method to book gains.


Notice how the limit one and one improves the execution on the prior NZDUSD example.

NZDUSD example

Now that we had the chance to see our methodologies lets discuss this week’s trades.

First of all let’s note that we had seven trades this week which was way to much as we seriously overtraded. Each week there are no more than 3-5 good ideas and we will be far more selective in choosing trades going forward.


1/08/07

Short GBPUSD –52

Short EURJPY –58

Both of these were poorly thought out trades as we sold on what was short term overbought hourlies but managed to neglect the fact that we were selling right into daily support. Furthermore our fundamental reasons were very weak. In the case of EURJPY carry trade liquidation has been going on for several days and was essentially finished, while the dollar had no positive news behind it and in fact was coming off a false gas terror alarm in New York.


See EURJPY Chart

1/9/07

Short NZDUSD 0

This was perhaps the most boneheaded play of the week and I (Boris) take full responsibility for it. We were right on the theme of the day which was commodity dollar weakness due to the overall weakness in the commodity markets. Our entry execution could have been better (we should have used the limit one and one rather than just plowing in all at once) and the trade went to nearly our stop price before coming back down. When it started to head back up I decided to take the trade off not liking the risk at that moment. Of course soon thereafter the trade proceeded to drop in our original direction easily hitting T1. The lesson here is to leave your stops alone. They are there for a reason. Price did not violate them and I should have let the setup run its course.


1/10/07

Short USDCAD +20

This was a well conceived trade that was executed perfectly with a one and one entry but unfortunately could have been closed much better. We achieved T1 on the trade but should have lowered our stop once price moved near T2 territory to capture more profit. Our thought was that this was the really big turn in USDCAD and we really wanted to milk the second lot for as much profit as possible and therefore decided to give the trade room. Unfortunately oil prices dropped through the floor in overnight electronic trade, sending USDCAD sharply higher in a matter of minutes

1/11/07

Long GBPUSD -30

Good idea because BoE raised rates and in fact GBPUSD has rallied higher since, but we rushed the trade ahead of the ECB press conference and got caught in the downdraft after Trichet’s dovish stance. We speculated that there was a chance that this might happen and our only saving grace was to take a 1 lot position only instead of our usual two

1/11/07

Short EURGBP +14

Best trade idea of the week as the BoE was hawkish and the ECB was dovish and this trade worked like a charm from the get go. It was very well thought out fundamentally and properly entered technically.

1/11/07

Short EURCHF –50


This was just one of those frustrating trades where the stop gets clipped and then it turns your way but this type of scenario will happen hundreds of times in your trading career and you just have to accept that this is part of the game and move on.

Well this is a missive worth of Tolstoy and we hope we did not bore you too much, but we felt it was important to discuss all these issues in detail so that we may start next week with a clean slate and more selective approach to better trades..

To start your free trial, visit bkforexadvisor.com

Wishing you all a great week-end,

Boris and Kathy

Dear Raheem,

On January 2, 2007, we launched our Premium Subscription Service, BKForexAdvisor. Since our start, we have scored 3 out of 3 winning trades and sent out an analysis on what is happening in EUR/JPY as well as AUD/CAD using some of the setups in our e-book. Market volatility has picked up significantly since the beginning of the year and we look forward to sharing more great trading ideas and tips with our subscribers! To start your free trial, visit bkforexadvisor.com

It has been a shortened trading week, but not shortage of volatility in FX! Here's a recap of our past week's emails.

1/2/07 Welcome to BKForexAdvisor!

We want to welcome everyone to our BKForexAdvisor trading community! The markets have broken out today and we already have a few potential trades that we are watching. No one wants to be long dollars on the first day of trading with the US markets closed for the mourning of former President Gerald Ford and the Euro rallying thanks to hawkish comments by ECB member Liikanen and more talk of reserve diversification. Here's some information on updating your SMS so that you can receive your alerts as quickly as possible:

1/2/07 What is happening in EUR/JPY

EUR/JPY is shooting to the moon and scoring fresh all time highs on a near daily basis in the process. Having already broken through the 50% Fibonacci retracement of the 211.37-88.69 decade long sell-off (See Chart), there is no major resistance until 165. Fundamentally, with the European Central Bank sticking to their plans of continuing to raise interest rates while the Bank of Japan only warns of gradual rate changes, the trend has both fundamental and technical support. However we want to take a slightly different perspective in explaining EUR/JPY's move.

Take a look at the chart of EUR/JPY and the Dow - you will see that the charts going back the last 4 years are near mirror images of each other and this is because EUR/JPY is exceptionally sensitive to global growth. Therefore EUR/JPY has been benefiting from the rally in the Dow and if the Dow begins to top out, we could expect the currency pair to do the same . In fact, a close examination of the chart below reveals that frequently, the Dow can be a leading indicator for the movements in EUR/JPY.

See Chart
Source: Bloomberg

The Dow - EUR/JPY analysis and chart is made exclusively for our BK Forex Advisor traders.

Feel free to shoot us questions at bktrader@gmail.com. We continue to be watching some exciting trade setups and will be shooting you an email as soon as we see a good entry level!

Good luck and good trading - talk to you tomorrow!

1/3/07 EUR/USD Long

We have waited patiently to buy the Euro on a retrace and we are finally getting that opportunity. US ISM runs the risk of coming out weak this morning while the change in German unemployment printed at the strongest level in 15 years. The combination of technicals with fundamentals makes long EURUSD an attractive trade.

Therefore we are buying here at market (1.3230) with a stop at 1.3207. Our first target is 1.3249. Once that level is reached, move your stop on the second lot to breakeven and target 1.3282 for the second lot.

T1 Hit on EUR/USD

At the speed of light on the back of the horrid ADP number (-40k vs. 120k expected), we hit our first target on the EUR/USD at 1.3249 (+19). We have now moved our stop to breakeven on the second lot and are targeting 1.3282. The markets are moving quickly this morning so we hope you were able to get in.


1/4/07 Sell NZD/JPY

We are seeing massive carry trade liquidation today to the point where major uptrends are being broken in the commodity currencies. The moves have become very extended and we think that with the Bank of Japan interest rate hike just slightly more than a week away, we could see further liquidation. The New Zealand dollar has benefitted the most on the back of the rally and as a result, it could correct even further. There is also a massive head and shoulders formation in the NZDUSD that stretches back to 2004. We are going into this trade with half of our usual position (1 lot) because there may be an opportunity to sell at a higher price.

Therefore we are shorting NZD/JPY at market (currently 83.30) with a stop at 83.80. Our first target is 83.07. Our second target if we get to lay the second lot on at a higher price will be 81.65. Look out for a follow up email on that.

Taking T1 on NZDJPY

We never got a chance to sell higher in NZDJPY and the currency pair has now come within 3 pips of our initial target and is potentially bottoming out here. Both the hourly charts of the "legs" which are the NZDUSD and USDJPY look like they are finding support as well. Therefore we want to take profit on our 1 NZDJPY lot at 83.10 for a +20 pips gain on the trade.

As you know, we never want to let a winner turn into a loser and no one ever went broke taking profits!

1/4/07 AUD/CAD - Extension Fade Strategy in the Works

We were upgrading our email servers last night, so we were unable to send out this trade alert (and we did not take it ourselves), but we do want take this opportunity to show you yet another example of how to use the strategies in our E-book since the BKForex trading community is not just about trading signals, but also about education.

Take a look the following chart of AUD/CAD See Chart

We have pointed out that up until yesterday, AUD/CAD had rallied for 8 straight days which means that it was ripe for an Extension Fade (page 68 in the e-book). Now the strategy in the e-book is called the Seven day extension fade and it tells you to focus on seven days. 7 days is on average as long as a continuous move can last. However, this strategy is about statistical significance and to effectively use this strategy, what you should do is each time the setup forms, go back in the charts and look to see how many candles a move has extended for that SPECIFIC currency pair. Each currency is a different animal. For some, the move will indeed stop at 7 days, but for others it can last for as long as 10,11 or 12 days.

For AUD/CAD specifically, the sweet spot is 8 days. After reviewing our charts, we have seen that in the past 10 years, there have only been 6 periods where the AUD/CAD has strengthened for 8 straight trading days with only 1 out of those 6 extending beyond 8 days. Therefore there was a very strong statistical likelihood for the AUD/CAD's rally to top out yesterday, which was at the end of 8 days. If you followed this strategy you would have been able to forecast the reversal move before it happened.

We hope that we have shed more light into how to use one of our favorite strategies in our E-book!


1/5/07 Short USD/CAD

Even though US payrolls came out very strongly in the month of December, Canadian payrolls were even better with the unemployment rate sinking to a 30 year low this morning. And although IVEY PMI printed below the 50 boom/bust level for the second month in a row, the market may be looking past the number as traders begin to appreciate the positive impact of the lower loonie on the Canadian economy, which is why we think that the Canadian dollar could bounce even further. Technically, USD/CAD also currently offers an attractive risk / reward profile as it tries to form an exhaustion top.

Therefore we are going short USD/CAD at market (currently 1.1760), with at stop at 1.1792. Our first target (T1) is 1.1742. Once that price level is reached, move your stop on the second lot to breakeven. Our second target (T2) is 1.1685.

T1 Hit on USD/CAD

Our first target has already been hit in USD/CAD, earning us another easy 18 pips. We are now moving our stop to breakeven on the second lot (1.1762) and aiming for our second target (T2) at 1.1685. For those of you who do not wish to hold the trade over the weekend, you can close the trade here at 1.1728, for a 34 pip gain on the second lot. We're choosing to stay in the trade.

To start your free trial, visit bkforexadvisor.com