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Sabtu, 29 Juni 2013

Boris's Weekly Email - Past Performance Not Indicative...

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Past Performance Not Indicative...

  

The other day an analyst on CNBC was uber bullish on the US economy basing his argument on the pent up demand in the auto market. "Before the recession, " he proclaimed, " we were running at 17M units per year, we dropped to 10M in '08, and are now at only 15M -- so we have a long way to go, " he stated with utmost certainty.

  

 

     

 

 

 

Really Grandpa? Have you actually talked to the twenty-something's that are to comprise your vast bulge of new buyers? Fact of the matter is that the new generation of consumers couldn't give a flying f* about about cars these days. The romantic notion of a "chariot on wheels" is long gone. Most young consumers these days view cars as strictly pragmatic form of transportation that is more of a nuisance than an item of envy.

In urban areas like New York, many consumers like Kathy opt out for on "on demand" services like Zipcar, and even old dinosaurs like me prefer to lease rather than buy automobiles if for nothing else than the simple reason that I never want to spend as much a dollar on repairs.

My regulator constantly reminds me to say that "past performance is not indicative of future results". While that statement may be at time tiresome, it is nevertheless extremely true when it comes to the markets be they in finance or cars.

That's why when you backtest your strategies you must be constantly aware of the trap of past performance. Sure its nice to have 10 straight years of positive results on the EUR/USD. But what does it really tell you? Trading in euro was vastly different in 2003 than 2013. Moreover the-past-is-the-future fallacy can really hurt you with such pairs as EUR/AUD. This was basically dormant pair for the first half of new century but has now become one of the most active momentum trades in the market.

If you look at results for breakout trades in EUR/AUD for the past 10 years they look horrible, but zero in on the last 10 months and the story changes massively. In markets we get paid for figuring out what will work today and tomorrow, but since we don't know the answer we resort to looking at what worked yesterday -- sometimes that approach can produce valuable insights, but sometimes its absolutely worthless. That why you cannot follow past results blindly and rely on them like a crutch.

When trading the key question to ask is -- are the markets still basically the same today as they were yesterday? And always be on the lookout for the time when the answer to that question becomes -- NO!.

 


 

  

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Forex Technicals Video for the Upcoming Week

 

USD/JPY Retake of 100.00? Weekly Forex Technicals 7.01-06.13
USD/JPY Retake of 100.00? Weekly Forex Technicals 7.01-06.13

 

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Sincerely,
 

BSignature

Boris Schlossberg and Kathy Lien
BKForex.com

Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.

 

This email was sent to forexhudi.euro@blogger.com by contact@bkforex.com |  
BKForex Advisor | The Desks of Boris Schlossberg and Kathy Lien | NY | NY | 10280

Jumat, 21 Juni 2013

Boris's Weekly Email - The London Way To Trade

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The London Way to Trade 

  

Of all the world's great capitals, London is definitely the most difficult one to navigate. Not only do the British drive on the wrong side of the street, but the streets themselves are a mishmash of twists and turns that often lead you in the exact opposite direction of where you intend to go. Ask a five year old in New York for directions and they will give you an accurate answer most of the time. Ask a life-long Londoner how to get to a particular street and they will look at you blankly even though the location you seek is often only 50 meters away.

  

 

 

 

     

 

 

 

 

London, unlike New York does not have a grid system, but is simply a sea of sinuous streets that sort meld into each other and then subtly change names, just to confuse you further. There is literally no straight angles in central London and the most amusing direction you get from the locals is "Just bear left, mate."


For many years, my trips to London were contained to Canary Wharf. So I would just walked across the footbridge from the Marriott to the office, then to dinner and back. The visits never required any navigation so I never learned the lay of the land.


This time however, I found myself in center London at St. Pauls and had no choice but to learn to get around in this lovely but utterly screwed up city. As soon as I started to explore I realized  I needed help from every source I could find. I used Google Maps, I got a paper map from the hotel concierge, I asked for directions from every policeman I saw, I downloaded apps and most importantly I walked and walked and walked until I could imprint the streets on my mind and become comfortable with the layout.


I soon realized that learning to navigate London is very similar to learning how to trade FX. FX like London is the most complicated market to master. Its price movements are often as confusing as the of the street plan of the city that gave birth to this market. That's why if you want to learn how to trade FX you need to apply the same techniques that I used to learn to how get around in London.


To learn how to trade FX you can't rely on just one source of information. You need to immerse yourself in the subject and seek help from everyone and everything around. Most importantly, there is absolutely no substitute for practice. You will never figure London until you get lost in its maze and claw your way back to your destination.  Similarly in FX you will never become a confident trader until you have learned how to trade your way back from loses.


In my education of London I used, apps, maps, advice from the locals and my own hard won experience, In your FX education you should learn through charts, fundamentals, setups from gurus, advice from your fellow traders and most importantly your own trading experience.


In the end - the crazy quilt work of London streets finally started to make sense to me, and if you follow the same approach to FX, I believe the market will begin to make sense you as well.

  

 


 

 

  

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Become a Member of BKForex.com
BKTMedia
2-5 BK Trades Per Week
Each With a Game Plan and
Specific Stop and Exit Directions

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Sincerely,
 

BSignature

Boris Schlossberg and Kathy Lien
BKForex.com

Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.

 

This email was sent to forexhudi.euro@blogger.com by contact@bkforex.com |  
BKForex Advisor | The Desks of Boris Schlossberg and Kathy Lien | NY | NY | 10280

Jumat, 14 Juni 2013

Boris's Weekly Email - The Market Doesn't Care



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BK Club Forex Trading Education

Boris' Weekly Trading Newsletter
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Traders First and Analysts Second

Blood, Sweat & Pips
- Here are our thoughts on Trading 

On June 18th Trade With Us 
From Anywhere in The World

On June 18th from 0600GMT (0200EST) David Aranzabal and I will host a day long Trading Webinar from Madrid.  This Live Trading event will be simulcast on the Internet, so you will NOT  need to be in Madrid in order to enjoy the complete presentation. 
  
I am going to present detailed instructions to my two favorite strategies
- the Costanza Setup to trade the news and the 8.25 Setup to day trade the EURUSD and GBPUSD during the European and North American opens.

  
These are the most frequent trades I make - I literally trade them every day - and now you can learn all about them by joining our Live Trading Event. 
  
If you sign up up today by clicking  http://www.theforexday.com/online-live-trading/ Be SURE TO USE PROMO CODE OnlineLiveTradingEN24h  and you'll be able attend the webinar for only 249 Euros.

Here is the absolute best part. The webinar will be recorded and once you buy it, you'll be able to watch it for free over and over again. 


  nline-Live-Tra 

If you sign up up today by clicking http://www.theforexday.com/online-live-trading/ Be SURE TO USE PROMO CODE OnlineLiveTradingEN24h  and you'll be able attend the webinar for only 249 Euros.



If you are forex trader this is an event that we believe you should not miss. Join Boris and David for LIVE Trading in Madrid.

In addition to live trading Boris will also cover the following topics:

1. The Most Important Question For  ANY Trader - What Market Are You In?
There are at least 5 different types of market environments that require different tactics and strategies in order to succeed. Join Boris Schlossberg as he walks you through each type of market and explains what strategies he believes work best.

2. Cautious Banker of Wild Cowboy? -  A Trading Plan For All of Us
In order to trade well you need to understand what business model suits your personality best. Join Boris Schlossberg as he details the key aspects of two main business models of trading.  This could literally transform the way you trade.

3. I Robot. Let Computers Work for You
Why Algorithmic trading is the future and why you need to learn how to make EAs work for you.  Learn  how to design, program and test a strategy without learning how to code.

David Aranzabal will also cover the following topics:

1. Day trading the European Opening
David is trades the Frankfurt and the London Openings. Over the last 7 years he's been trading this setup  on a daily basis. David will teach you how to enter and exit at one of the best moments of the forex markets. The currency market is well known for its wild moves at his time of the day  and David will teach you how to trade  them.

2. Frankfurt and London
David will trade live at the Frankfurt Open trying to catch countertrend moves that occur during the London Window. David will then trade live at the London Open just as the center of the FX market opens its door.

David Aranzabal has taught this Frankfurt/London opening strategy to hundreds of traders of more than 30 nationalities.  David is a regular contributor to such media outlets as like Fxstreet.es and Estrategias de Inversión TV, and a lecturer in top Trading Shows in Spain such as Financial Congress, Trading Room, Bolsalia, and Madrid stock exchange.In 2009 he founded the FXforaliving.com trading school, specializing in Forex. Mr. Aranzabal is widely regarded as one of the top professionals in Forex in the Spanish community.

 
If you sign up up today by clicking http://www.theforexday.com/online-live-trading/ Be SURE TO USE PROMO CODE OnlineLiveTradingEN24h  and you'll be able attend the webinar for only 249 Euros.


  
 


Get a Taste of the Action Explore the Benefits of Being a BK Member 
  Memberbenefits

Thoughts on Trading 

The Market Doesn't Care  
  
The market doesn't care what happened yesterday


     






The market doesn't care that you don't feel well
The market doesn't care that your spouse/child/dog/boss/friend/neighbor just p-d you off and your focus is off
The market doesn't care that you just missed your entry as you went to the bathroom/coffee/meeting
The market doesn't care that your algo did not execute
The market doesn't care that your algo executed improperly
The market doesn't care that you forgot to cancel that buy/sell/entry/exit order and now its floating a major loss
The market doesn't care that the pattern you just traded worked the last 19 times on the back test.
The market doesn't care that your trading platform is frozen
The market doesn't care that you really, really REALLY need this trade to work
The market only cares about one thing -- your money.
So if you ever want to compete in the market -- don't for a second think that the market is your friend.



  
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BKForex Trading Video -
  More $ Weakness To Come? Weekly Forex Technicals 6.17-21.13
More $ Weakness To Come? Weekly Forex Technicals 6.17-21.13
More $ Weakness To Come? Weekly Forex Technicals 6.17-21.13


Become a Member of BKForex.com
BKTMedia
2-5 BK Trades Per Week
Each With a Game Plan and
Specific Stop and Exit Directions

Try BKForex.com now for only $59
Sincerely,


BSignature

Boris Schlossberg and Kathy Lien
BKForex.com

Past performance is not indicative of future results. Trading forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial advisor if you have any doubts.


This email was sent  by contact@bkforex.com |  
BKForex Advisor | The Desks of Boris Schlossberg and Kathy Lien | NY | NY | 10280

Selasa, 11 Juni 2013

Reminder - FREE Webinar on Trading the Euro Tomorrow

 

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TRADING THE EURO CAN BE EASY!
Learn how to trade the Euro LIVE with Boris and Kathy

As a special thank you for downloading our EUR/USD Trading Guide, we would like to invite you to attend an exclusive free webinar on trading the world's most popular currency pair. In this invite only event Boris and Kathy will cover Current Market conditions for trading the EUR/USD and teach you one of their favorite strategies for the pair. In addition they will also provide attendees an exclusive free BK Flow Trade currently only available to paid subscribers (a $199 Monthly Value).

 

TRADING THE EURO CAN BE EASY!

Hosted by Kathy Lien and Boris Schlossberg

Date: Wednesday, June 12, 2013
Time: 11AM ET / 15 GMT
Cost: Free

Date: Wednesday, June 12, 201
Time: 7PM ET / 23 GMT
Cost: Free

 

Webinar Topics:

  • Current Market Conditions for the EUR/USD
  • Our Upcoming Forecast for the EUR/USD
  • Strategies for Trading the EUR/USD
  • An Exclusive BK Flow Trade with Entry and Exit Points for Attendees

About the Webinar:

Boris and Kathy have over 10 years of experience trading Forex. In this exclusive webinar they will cover the in's and out's of trading the EUR/USD based on current and upcoming market conditions. They will also share strategies on how they approach trading the EUR/USD as well as an exclusive BK Flow Trade that will tell you exact entry and exit levels.



 

 ABOUT KATHY LIEN & BORIS SCLOSSBERG

 BORIS SCHLOSSBERG

  • Founding Partner BK Forex
  • 20 Plus Years Financial Market Experience
  • Featured on CNBC, Wall Street Journal, Reuters, Dow Jones and Bloomberg
  • Author of Technical Analysis of the Currency Market and Millionaire Traders

 KATHY LIEN

  • Co-Founder BK Forex
  • 10 Plus Years Trading Forex
  • Featured on CNBC, Wall Street Journal, Reuters and Financial Times
  • Author of The Little Book of Currency Trading and Millionaire Traders
 

Have questions or comments about the event? You can contact BK Forex at contact@bkforex.com.

Regards,

BK Forex
295 Greenwich Street, Suite 281
New York, NY 10007
Fax: 1-925-887-4373
contact@bkforex.com
www.BKForex.com

 
 
 
 
 

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