FAQ

1) 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 can 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 alike.

We always consider ourselves traders first and analysts second and that means we believe that money management is just as important as trade selection, which is why we practice defensive trading. Once a trade goes in the money by a comfortable margin we always move our stops to protect the position making sure to NEVER TURN A WINNER INTO A LOSER

2) 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 will send out our first trading signal to Forex Advisor members on January 2, 2007.

3) Is This Service an FXCM Product?

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

4) 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 “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 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.

5) How Often Do You Send Out Alerts? What Times?

We send generally two to three alerts each week usually between 3 PM and 5 PM EST (19:00 -21:00 GMT) This is the optimal time to consider the state of the currency market as US is about to close and Asia is about to begin trading a new day. It’s also the one time in the global day when most of our far flung members are awake and therefore able to read our alerts. Depending upon the how active the trade becomes, you can expect to receive possibly two to four follow-up messages on those alerts. We are your eyes and ears into the market. There are two of us, so we are monitoring the trades 24 hours a day.

6) 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

7) 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 FXCM No Dealing Desk Platform.

8 Do You Place the Orders in the Market Yourself Based Upon Your Recommendations?

Yes we trade our recommendations with real money.

9) 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. Since we try to enter during a lull in the markets, prices generally tend to be quite stable offering plenty of time to get into the trade.

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. 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 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 How Free Economic Releases Were Released?

For US news, CNBC or Bloomberg Television are the fastest source of information. Most brokers offer real-time news feeds including FXCM, which has the DailyFX 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. 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, 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 bktrader@gmail.com and we will re-send you the login information

15) I Forgot my Password. What Should I do?

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

17) Where are the Archived Newsletters, Reports and Holding Updates Found?

Archived newsletters are found under the “Newsletter” tab of the site, reports are found in the “Reports” section of the site and the latest holding updates are found by clicking on the “Holding Updates” tab. All the archived holding updates for a specific symbol can be found under the model portfolio by clicking on that company.

18) How do I Cancel my Subscription?

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

19) What is the Forex Advisor’s Goal?

Forex Advisor’s goal is to average 200 points in gain per month. Because different people will take on different levels of risk and leverage we do not aim for a percentage gain per month.

20) How does the Service Work?

Once you activate your $99 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 on-line chats and demo trading sessions with us and have access to screencasts showcasing some of our best technical setups.

21) How Many Trades do You Make Per Week?

Generally two to three trades per week.

22) 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 PESONALIZED ADVISORY SERVICE.

23) How Can I Contact You?

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