FAQ

01). What Is Your Trading Philosophy?

We practice what we call "High Probability Trading" in fact we even wrote a book called "High Probability Trading Setups" which you can download a free copy of if you become a member of BKForex Advisor

In order to achieve high probability, every single one of our trades is a fusion of both fundamental and technical analysis. And unlike some other services we will always spell out all our reasons for entering a trade rather than simply spit out a cryptic signal to buy or sell. This way you can judge for yourself if the trade makes sense to you and participate along with us if you like.

Here is an example of a trade:
November 15, 2011 12:00 AM ET 5:00 GMT
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Short GBP/USD at market currently 1.5879
Stop 1.5939
Close trade at 1.5829


Fundamentally we have good reasons to believe that UK inflation will print cooler this month. Both input and output PPI readings were weaker than expected and the BRC shop index was lower as well. Softer inflation data may embolden the BOE to expand its QE program which would be bearish for the pound. Technically cable printed an engulfing reversal candle which is a very bearish signal so we will going short GBP/USD at the start of London trade.

November 15, 2011 10:13 AM ET 15:13 GMT
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BK - GBP/USD Target Hit +100 on trade

02). When Did You Start This Service?

We launched Forex Advisor on December 8, 2006 at the Las Vegas Forex Expo, but we have been running bktraderfx.com since September 20, 2006 and sent out our first trading signal on October 1, 2006. Prior to this, we were the editors for the Money Trader.

We sent out our first trading signal to Forex Advisor members on January 2, 2007.

03). Is This Service a GFT Product?

No this service is completely independent of our work as analysts at GFT and all queries regarding its operation should be directed to contact@bkforexadvisors.com rather than to GFT. Again GFT has nothing to do with operation of this service so please do not direct any queries or complaints to them.

04). What Type of Account Should I Trade? With What Leverage?

Every investor's risk tolerance and personal finances are different. That is why we never provide a "one-size-fits-all" answer to that question. Generally, smaller account holders should use mini lots while larger accounts should trade regular lots. We typically recommend that traders never employ more than 10 to 1 leverage meaning that if you have $10,000 of equity in your account you MAXIMUM position should not exceed $100,000 of notional value. However this is simply a guideline. Every trader is different and all leverage decisions are a matter or personal preference and responsibility.

05). How Often Do You Send Out Alerts? What Times?

We generally send one to two alerts each week. With currency markets more volatile than ever, timing the trade well has become crucial to achieving consistent success as an FX trader. After months of back testing and live testing, we introduced our new model of Session Based Trading in August of 2009.  At BK Forex Advisor our edge has always been to trade global economic data and with Session Based Trading we can exploit that edge even better while avoiding unnecessary volatility   
Our subscribers have seen markedly better performance as the result of this change.

Here is how it works:

If we are trading an event during the Asian session  
We put our trade on between 4:00-5:00PM EST (20:00-21:00 GMT)



If we are trading an event during the European session  
We put our trade on at 1:00AM EST (5:00GMT)
 


If we are trading an event during the North American session  
We put our trade on at 7:00AM EST (12:00GMT)

BE PREPARED - GET THE PLAN!

Most importantly we email you our TRADING PLAN hours before the trade is placed to give you plenty of time to prepare. 

The trading plan includes:

·       Our reasons for the trade


·        The currency pair that we will be trading 


·       And the time when the SMS and email with the specific details will be sent.

06). How Do You Send Out Your Alerts? We disseminate our trade alerts in four ways

Email – We recommend a GMAIL account for best delivery. Those of you with Blackberries will generally be able to get them instantly

SMS (Text Message to Cell Phone) – We provide a short version of our trade alerts directly to your cell phone across the globe. We use a global SMS provider and make every effort to ensure delivery – but make no guarantees that the messages will reach you. NOTE if you chose to subscribe to SMS delivery, you may be charged for each incoming message by your cell phone provider. We are in no way responsible for any costs you incur as a result of this method of delivery.

Chat – This is the best way to see our alerts as we post them in the chat room first. The chat room is available to members only and the username and password to login may be found on the start page for chat.

Website – All of our trades are also posted and archived in the Members section of our website

07). Do You Take Into Account the Spread on Your Stops or Targets? Yes, we actually do account for the spread already when setting our stops 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 GFT Dealing Desk Platform. The price that you obtain may also vary depending on your broker and their price feed.

08). Do You Place Trades in the Market Yourself Based Upon Your Recommendations?

Yes we trade our recommendations with real money.

09). Do You Place Your Own Orders Before Forwarding the Recommendation to Subscribers?

No. We put our recommendations into chat first then enter the trade at market and simultaneously send out the email alert and SMS messages. Occasionally we get slightly better execution and sometimes slightly worse.

10). What Happens If My Broker Does Not Offer the Currency Pair that you Trade?

Many brokers offer a wide variety of currency pairs. You may want to look on www.fxstreet.com to see a list of potential candidates. 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, but that may result in wider spreads, slippage and volatility depending upon your broker. For example, if we recommended long AUD/CAD, a synthetic trade would be going long AUD/USD and long USD/CAD. The 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 also can pass this trade up as there will be many others to come, 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.

11). Where Can I Quickly Find Economic Release Data For Free?

For US news, CNBC or Bloomberg Television are the fastest source of information. Most brokers offer real-time news feeds including Forex Factory, which has the Forex Factory dynamic calendar that updates in real time.

12). Can You Tell Me What You Think About My Trade?

No we cannot give personalized trading advice and never do so.

13). 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 also are 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. Make sure that you add contact@bkforexadvisors.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, junk 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 also may need to reduce your filtering level and add our address to your safe list.

14). I am Unable to Login to the Site. What Should I do?

Email us a note at contact@bkforexadvisors.com and we will re-send you the login information

15). I Forgot my Password. What Should I do? Email us a note at contact@bkforexadvisors.com and we will re-send you the login information

16). How do I Change my Account Information, such as my Username and Password?

Email us a note at contact@bkforexadvisors.com and we will change the settings in your account

17). Where are the Archived Newsletters and Past Trades Found?

Everything can be found by subjects matter. Newsletters can be found under FX Reports tag and Trades under Trade Rec tag.

18). How do I Cancel my Subscription?

Email us a note at contact@bkforexadvisors.com. THERE ARE ABSOLUTELY NO REFUNDS FOR PURCHASES ALREADY MADE

19). How does the Service Work?

Once you activate your $199 trial membership you will start to receive trade alerts (either via email or SMS or both, depending on your selections in the activation process) from us. We will detail why we are entering the trade and provide instructions to help you enter and exit the trade as it progresses. In addition to trade ideas you will also be able to participate in a monthly live trading session via chat room and will receive our weekly Event Risk Calendar with our bias on the upcoming economic data.

20). How Many Trades Do You Make Per Week?

Generally one to two trades per week.

21). Do You offer Personalized Advice?

No, no and no. We are not a personal investment advisor.

Every individual has unique circumstances that require very specific advice. Do not equate this service with a personal advisor; we seek to find the best trading ideas for you to profit from. However we do not, or should we say, cannot, take into account all of the personal circumstances of all our subscribers. WE ARE NOT A PERSONALIZED ADVISORY SERVICE.

22). How Can I Contact You?

We love to get feedback. Simply email us at contact@bkforexadvisors.com whenever you feel the urge. We try to make ourselves very accessible.

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What is Flow Trading?
Flow Trading is exactly what it sounds. Every day we follow the flow of the currency market during its most liquid hours in its most liquid instrument the EUR/USD. We trade between 4AM-12 noon ET (8GMT-16GMT) when the markets are most active and newsflow is heavy.

What is a Typical Flow Trade?
A typical Flow Trade involves a run from the 50 area towards the 00 area in the EUR/USD. We risk 50 points to make 33 points. For example in a long trade we will get long EUR/USD at 1.3650 with a stop at 1.3600 and target 1.3683. In short trade we would get short EUR/USD at 1.3650 with stop at 1.3700 and target 1.3617

Why Use Negative Risk Reward Ratio?
Our objective is to create a high probability trading strategy. If we can be accurate 2 out of every 3 trades the strategy becomes net positive for 60 points for every 9 trade taken.

How Many Flow Trades Are There Per Month?
There are 1 to 2 Flow trades per day and we average between 20-30 trades per month. Some days there may not be any trades. Other days can be very busy.

Do You Have a Target of Pips Per Month?
We don’t set specific targets but ideally we try to achieve between 100-200 pips per month in trading Flow.

Do You Trade Any Other Currency Pairs With Flow?
Right now we only focus on EUR/USD which has the greatest liquidity and tends to trend well, but we may add other pairs in the future.

When Does This Strategy Fail?
This strategy runs into trouble when breakouts turn into fakeouts. Sudden reversals in price action caused by some change in economic, monetary or headline news can create whipsaw stop outs. It is important to remember that this is a normal part of speculative markets and you have to be patient and remain in the game to take advantage of the time when direction reasserts itself.

Why Is this Strategy Not Automated?
Flow Trading is very structured but it remains discretionary and we do not take every trade blindly especially in times of great volatility when the risk of whipsaw is the greatest.

If you have more questions please email me at bktrader@gmail.com or contact@bkforexadvisors.com.

May you be in the know and in the flow.

Boris