What are month end flows and how to benefit from it?
Trades
besomebodyfx
WHAT are month end flows and how to benefit from it?
Don’t worry we won’t into the complex technical details of the flows as it would get too complicated and basically useless for real trading…
What instead we want to teach you with this article is how to benefit from these month end flows, and read until the end to see a trading opportunity that you can capitalize on as soon as next week starts…
So let’s get into it
Don’t worry i said we will not get too complicated and indeed we won’t, the key takeaway from this definition that you need to understand is simple, at the end of the month there are portfolio managers and funds that need to rebalance their portfolio exposure before the London session ends hence why the biggest impact of this is seen at 4PM London time of the last day of the month which is called the London Fix.
So you may be asking yourself…
How the heck do i know what these portfolio manages have to hedge so that i can ride these month end flows?
Well you can’t…
Or better, you can’t without proper tools or the right contacts tipping you ahead of the move, hence why we have the Private Network so that we can send the members these type of tips thanks to out tools and contacts 😙
We knew exactly that month end flows for April would have been USD selling hence USD weakness so we tipped the members at the London open.
How did we know this?
First an extremely useful tool that we use to predict these month end flows is the Capital Flow Tool from the BeSomebodyFX Terminal
That tool gives us clear direction on where money are moving across assets, but we are not here to flex about our tools and services…
You should already know by now that being a Private Network member gives you the edge in the market 🤪
But let’s get to the point of this article before you leave thinking “i will never be profitable if i’m not a Private Network member“
The month end flows are not only useful to ride when they happen but they are extremely profitable to FADE once the month ends…
Yes because think about it, there is no fundamental or real catalyst for that move and the market moves pricing in geopolitical factors, interest rates, macroeconomic, central banks policies etc, so what happens if the market rallies 200 pips for no reason right at the London Fix at the end of the month?
Easy, the market needs to reprice back to his original value, that 200 pip move has no reason to be there it was just caused by a technical rebalancing in the portfolio managers book, it wasn’t cause by a shift in fundamentals, hence it’s a GREAT fade.
And this is exactly what happened with the April month end flows too, we saw USD weakness on many pairs to then reverse completely the move on May 1st
Oh and same happened with JPY pairs, the Yen saw a massive spike of weakness right into the London fix to then reverse on May 1st
Now these type of flows DON’T happen every single month, you need to be good in recognizing when it’s real month end rebalancing or when it’s only a normal market movement, here is another example from EURUSD for January month end flows.
Do you see where the opportunity lies?
If you see a crazy move in the last day of the month which is not being driven by economic news or events and it’s extremely impulsive with little to no retracements that’s your trade right there, you can fade it once the next month begins…
And now here is a bonus 😉
As you can see EURUSD still has to retrace April month end flows.
Can this be an exception where the flows are not retraced?
Yes it can of course, but the edge to take the trade for us is there, if we are proven wrong this time no big deal we don’t take it personally and we move on to another idea.
So can you short EURUSD?
I’m not going to tell you if you can short it or not, the article is self explanatory but I can tell you that we in the Private Network are short with an extremely small position so manage your risk well if you want to give it a shot 😉
What Bruce Lee Can Teach Us About Trading?
Trades
besomebodyfx
WHAT CAN BRUCE LEE TEACH US ABOUT TRADING
You might think why the heck is this guy bringing Bruce Lee and trading together?
Well, it definitely doesn’t make any sense but this week a famous quote from Bruce Lee came out of nowhere in a discussion in the Private Network chat and the quote was “be like water” it’s a famous quote and you definitely heard it aready from this interview:
So myself being a huge Bruce Lee fan i started asking what Bruce Lee can teach somebody about trading?
You surely know who Bruce Lee was and what he did, but probably most of you don’t know that Bruce was a philosopher as well and studied philosophy at the University of Washington.
So almost a decade ago i bought a book about Bruce Lee which is basically a compilation of all his thoughts and scripts, so this week i decided to pick it up again to extract a few good quotes that can be meaningful for traders…
Excuse myself for the cringiness of this article but i didn’t have much to do this morning so this is the fruit of the lockdown boredom…
“Simplicity is the key to brilliance”
I’m sure i don’t have to explain this one, keep it simple, don’t overcomplicate things, create an actionable approach and master it but don’t forget that 90% of retail fail so think twice when you study what every other retail trader is studying…
The key is simplicity, yes, well simplicity doesn’t mean what you might think, like buy when the stochastic is oversold and sell when overbought, yes that’s simple, but it’s not simplicity, simplicity is, trade what simply moves the market, trust me your stochastic is not moving anything, what really moves the makets are factors outside your chart…
“Success means doing something sincerely and whole-heartedly, and you have to have the help of other people to achieve it”
This affirmation is true in trading because you need somebody to push you further and to support you in hard times, having a team in trading is in my view absolutely crucial for success, of course, it depends on individuals but having support where you can ask feedback, suggestions and you can confront yourself it’s a huge advantage in this industry.
“In order to control myself i must first accept myself by going with and not against my nature, everybody has to think for himself. A right way for a big man may not be a right way for a small man, a right way for someone who is slow may not be a right way for someone who is quick, each person must understand his weaknesses and his strengths”
In the trading field this means, learn about yourself, learn your motivation, learn what you actually want from the market and what you are willing to give, you want to stay in front of the chart 10 hours a day? or you want a more relaxed approach, looking at charts only during the weekend? Learn about what you want and from that you can adjust your trading based on your interests, if you are somebody that gets frustrated by losses, then focus on fewer trades and more accuracy, if you don’t like to stay in front of the charts then don’t even try daytrading because you will fail no matter what.
If you don’t like what you are doing, you are adding another enemy to what already is really hard in itself.
“If you spend too much time thinking about a thing you will never get it done”
When you have a plan, you have everything planned out, then don’t hesitate when it’s time to pull the trigger, if you think about it too much then you are done, you will overthink it and there you go, you missed your perfect entry, this is why i love pending orders, just place it according to your plan, and don’t look back.
“A choice method imprisons the mind, fixes the mind in a pattern. It’s the cultivation of resistance, and where there is resistance there is no understanding, any techquine, however worthy and desirable, becomes a disease when the mind is obsessed with it”
I love this one, don’t be obsessed with a specific method of trading, understand the WHOLE concept and then specialize in something BUT always understanding the bigger picture and without getting obsessed with your approach, a good trader is able to switch his style when needed, adapt yourself to what the market is telling you in that moment and don’t force your method on it.
“Mistakes are always forgivable, if one has the courage to admit them.”
Admit yourself when you have done a mistake, don’t try to hide it, the only way you can learn from it is to accept and study it, did you oversize in a trade for instance? study your emotions during your decision making and what happened that made you oversize in the trade.
The successful warrior is the average man, with laser-like focus.
Sometimes people come to me asking if you need to be a genius to be profitable in the markets, and yes definitely you need to be smart since you are competing with some of the sharpest minds in the world but what makes the difference is not IQ, is your ability to control yourself, your discipline and focus…
“The man created the method, not the other way around, so don’t try at all costs to adapt to somebody else schemes, models that undoubtedly will work for him, but not necessarily for you”
Straight forward, find your way, don’t try to copycat anybody, if you do that you will not succeed…
Now if you have been able to get through this cringy article I salute you because you find this interesting as I do, psychology as we all know plays a huge role in trading and I find these quotes to be quite interesting for how they can be true for trading as well, definitely there are more quotes from Bruce worth mentioning that relate well with trading but i don’t have all day 🤪
How To Manage Your FOMO
Trades
besomebodyfx
HOW TO MANAGE YOUR FOMO
With the recent volatility in the market, it’s time for every trader to start managing their emotions and most of all their FOMO (Fear of missing out)
I’m writing this post down to teach you a process useful in your trading to help you avoid poor decisions, because most of a trader losses are due to bad decision taken emotionally and instinctively…
You see a sharp move in the markets…
Maybe you even predicted that move...
But you didn’t execute your order, now the pair is moving and you don’t want to miss it out, you want to jump into the train not realizing tho that it’s arriving to the station hence it’s too late, your risk reward is now awful and you take a poor trade that’s maybe going in your favour for a few pips but then reverses, squeezes you out of it and then resumes in the original direction…
The image below is the perfect representation of that:
You may think:
“well this happens once and then you learn from it”
Well no, many never learn from this and they keep repeating the same mistake.
Why?
Because the markets are good at fooling people, it is literally what it does every day, and it evolves day after day to always stay ahead of your game so that you can be fooled over and over again.
So how can you solve this problem and never fall for it again?
This is what we are going to speak about in this post so sit back, take a notepad and write down some notes…
First, its important to understand that the fear of missing out is not a once and done type of thing, it’s a process that sparks a series of poor decisions, because when you take a loss or you get trapped by the marked to then see it unfold in the direction you predicted but this time without you, that sparks a sentiment of frustration that can be extremely damaging for your trading, because in the next few trades you can jeopardize your account because you don’t want to get “fooled” again by the market like the last time.
Think about it, did you ever hold into a trade moving you stop loss just because the last one stop hunted you to the pip?
So what’s the solution to this?
The solution to not jeopardize your trade while open is “simple”, have a plan, set an entry, set a stop loss, set a target and DON’T touch anything once you are into the trade, if your plan is good enough in advance you don’t need to do anything when you are in the trade.
If you entered it in the first place there must be a solid reason to, right?
So why you need to watch it every 2 seconds?
BUT HOW TO AVOID STUPID TRADES?
Before you enter the trade you need to go trough a few steps to avoid an emotional decison…
I want you to manage your behavior better, to create a set of good habits, so let me give you a set of good rules.
First, when you are entering a trade:
Print this image and stick it on your desk, every time you are about to enter a trade you need to ask yourself:
“Am I getting FOMO, am I getting at the best price for this trade; can I get trapped by the volatility here and lose control, is it a rational trade driven by solid reasons or I’m just trying to make up a lost trade?”
If any of these is a yes then, take a breath, count to 10, control your breathing and you can even get up and move away from the chart.
It’s NOT EASY to do, but it’s a habit, once you have carved it into your daily trading you will bring this with yourself forever, you must work on it tho, so you must do it every single time you take a trade.
THE EMOTIONAL TRADE
Understand that an emotional trade will quickly bring you an undesired outcome (a loss) sometimes even bigger than what you wanted because you don’t set a stop loss or you move that stop loss further away or you take too many random trades in a state of complete panic and confusion trying to cover the losses.
While instead, an emotional trade can turn into a desired outcome too (a profit) if put through a set of good habits, so, for instance, controlling your breathing, stepping away from the charts for a few minutes, drinking some water, anything that can help you in your decision making…
So every time you take a trade, go trough a set of habits that you prefer to make sure you are not entering into an emotional trade.
But now let me honestly tell you, emotions are not only what’s stopping you from making more profits, If you are finding that you are getting chopped out a lot in these markets and you are questioning your approach, well traders usually are are not taking into account enough fundamental information, geopolitical news, they are not aware of what the average retail trader is doing, where they are positioning themselves vs the hedge funds and the institutions, it’s really important to be aware of this and be aware of market sentiment, trade flow, cycles, seasonality and understand how to apply everything together, that’s what will give you the edge in the markets, so if you are missing one of these and you would like to join a community of successful traders and learn a research driven approach, you have the opportunity to do so, as a member of the BeSomebodyFX Private Network you get access to our exclusive trading tools, real time trading signals (both long and short term), trading researches and market insights, private academy section, support from experienced professional traders, daily briefings, weekly briefings etc…
And last but not least, access to a community of institutional traders to help you remain focused and disciplined.
Click on the link below to join the private network now…
What we do in the Private Network?
Trades
besomebodyfx
HOW THE PRIVATE NETWORK WORKS
We have been asked many many times what benefits a trader gets by joining the BeSomebodyFX Private Network.
So…
Why not create a well detailed article illustrating the whole thing?
Well, that’s a pretty good idea.
So here it is…
The most important features:
Now, I know what you want…
You want signals.
Those juicy trade recommendations that allow you to trade profitably and consistently.
I know, and…
Yes 😉.
In the Private Network we share each and every single trade we take with the members.
Like this:
That way you can follow EXACTLY the trades that we are taking.
And you get precise entry and exit details with defined risk management parameters.
Then obviously all the updates we make on the trades are also well alerted.
Here’s for instance the update to the trade used in the example above:
Now, you might be wondering…
Do we send those kinds of trades every single day?
NO.
We are NOT intraday traders.
We are medium to long term traders.
We enter positions when there is a CLEAR and HIGH QUALITY trade opportunity.
We DON’T jump in and out of trades at random.
Instead…
Our trades are precisely targeted to limit drawdown risks and create long term growth and consistency.
Quality over quantity:
This also allows the whole thing to be MUCH more practical and effective.
I mean…
You can easily follow our trades without having to be always on high alert for signals because we mostly use pending orders for our entries.
So you can see the alert hours later and still have time to set the order before it gets filled.
Like this one below:
We set the pending order and then hours later the trade got filled, spent some time below the entry and then it started unfolding in the expected direction.
And then we started trailing the stop loss in profit:
And that’s how we operate.
In other words…
We DON’T case the trades and we mostly use pending orders to fill our positions whenever the market reaches our desired entry level.
Now…
What else is in the Private Network?
Is it just signals and trades?
No not just that.
There’s more.
Market briefings:
Every day we post insightful daily briefings to keep you well up to date with what matters in the market…
We discuss whatever matters at that moment.
That could be potential trade ideas that we are looking at, or previews for important data releases like CPI, FOMC, and so on and so forth.
All that you need to stay on top of the markets sent every day in a format that is quick to read and straight to the point without much fluff, with additionally the Sunday briefing for more insights to prepare for the week ahead every too.
Similarly, every Sunday we share the Sunday briefing, which is a quick briefing to prepare for the week ahead.
That’s straight to the point as well shared in an easy to understand format:
Basically the briefings are there to keep you in the flow of the fundamental developments that we monitor and use to generate trades.
In other words to give you context into what we are watching, reading, and monitoring.
All that kind of stuff.
And I mean…
The kind of USEFUL stuff.
Now…
What about the educational part?
Can you learn from what we do?
Yes, and let me show you why…
Every single trade we take is well detailed with the logic and thought process behind it.
But let me show you an example:
In this specific instance we explained the whole thought process around the trade idea in the daily briefing to then took action on the trade a couple of hours later.
Here it is:
This way not only you can follow the trade but you can follow it with proper understanding of why we are taking that trade.
And let me tell you…
That makes a difference in your trading.
Because the comprehensive details around the alerts give you context to understand why the trade makes sense.
That way you can follow the position with confidence and a complete understanding of the thought process around it.
And that allows you to grow your trading experience, your fundamental knowledge, your macro vocabulary, and so on and so forth.
Cool?
I know.
Now, anything else to mention?
Well… yes 😉.
THERE’S EVEN MORE:
On top of all we have mentioned so far, you also get access to some extra features and tools.
Like what?
Well, let me show you…
By joining the Private Network you automatically get access to the BeSomebodyFX Terminal too for:
Sounds good?
Good.
So…
How can you join?
The seats for new joiners are limited, and every month we open around 4 to 5 extra seats to get immediate access.
You can head to the checkout page to create a membership right here.
And if the checkout page is open you can join right away without having to wait.
But… what if it’s not?
Well in that case just get in touch with the chat at the bottom right or directly @JayRally on Telegram and we can book you a seat in advance so that you don’t miss out when we open up a few extras.
So what are you waiting for 😉?
If you are wondering about the performance, here is the 2019 recap:
https://besomebodyfx.com/2019-recap/
So what are you waiting for 😉?
Silvertalks FX review: SCAM ALERT!
Today I’m looking at a website/service called Silvertalks fx that delves into Forex mentorship, courses, but most importantly trading opportunities. The creators of Silvertalks fx claim that their group is “purely for educational purposes ”
Formally known as Silvertalks FX the company doesn’t seem to be registered officially anywhere. I can’t find any physical office or location, it seems to be run remotely by two guys…
In order to rope traders in, the service is both short term and long term trading.
Breakdown
- Type: Forex Education
- Price: $49.99/Month
- Price: $399/Course
- Site: https://silvertalksfx.com/
There is no real information on the performance of the Silvertalks fx educators here. Not performance about the signals, they clearly state that they DO NOT provide signals, they simply share setups. But whatever you provide if you ask for money you MUST have a track record to show your clients what you are able to do.
Any professional trader who actually trades the market has a track record so why shouldn’t they share it if you have to pay them for education?
I want more information from the vendor before I am comfortable with their service. Especially if they ask $399 for a “beginner” course.
I didn’t take the course and will never take it but $399 for beginner pieces of information that you can find on youtube?
No thanks…
These are the topics of the course. You can literally search every one of those topics on youtube and get FREE education.
This course, charging $399 for beginner information that you can find anywhere for free. Already makes me lose trust on this Silvertalks fx group.
If you want to learn how to properly trade (macro and micro fundamentals) while following our profitable trades. Check the BeSomebodyFX Private Network
But let’s go ahead because here gets interesting…Silvertalks fx Trading Results…
Trading Results
Honestly, I don’t know how any Forex signal vendor can get away with absolutely no trading statements or proof of success rate.
And i don’t care about screenshots of winning trades, spreadsheets, or anything that is not a VERIFIED track record like a myfxbook. If you keep getting scammed is because you trust people with no track record.
Start asking for a myfxbook and you will see how you will never get scammed anymore.
Sorry Silvertalks fx but this is a BIG NEGATIVE point.
If you want to join a forex service with finally a verified myfxbook, check the BeSomebodyFX Private Network
Customer Feedback
Again, if i have to pay somebody to teach me how to trade or to give me any service related to forex i NEED some sort of reviews of the service like on Trustpilot or FPA. And Silvertalks fx doesn’t have any confirmed review about their service.
Check our Trustpilot reviews: https://www.trustpilot.com/review/besomebodyfx.com
Silvertalks fx doesn’t even have one screenshot of some customer review. I run a forex service too and i can tell you that if your service is good people flood your personal messages with positive feedback. And of course, a legit business is more than happy to share those feedback with everybody interested in joining the service.
But, Silvertalks fx doesn’t have one screenshot of any sort of feedback in their site, this is another NEGATIVE point.
Here comes the meat…
Here is the juiciest part of this review.
I had a personal experience with the admin of Silvertalks fx.
I was running my usual promotion service on Telegram, where i find and ask people to promote my telegram channel on their telegram.
I’m sure screenshots speak better here:
The blurred parts are the $ amount of the transaction and some personal info…
I started with usual business asking if they provide paid advertising, and got a yes as an answer.
Here i started to be suspicious because the first alert bell started to ring when he said they have issue with PayPal.
Let me explain you what this means…
Somebody having issue with PayPal either has a non verified account, it’s scared of chargebacks, or simply he received so many chargebacks that PayPal is now holding every fund he receives.
We anyway scheduled to start with the promotion the next working day at the London open :
In the end, he decided to give me his PayPal and we agreed on half via Neteller and half via PayPal. But “wise” guy, knowing PayPal holds his funds he asked me to send the money as family and friends.
First half was sent, usually i send half first and half once the job is done, but this guy kept saying he wanted all so i gave up and sent him the rest of the money.
All the money were sent at 10:30 AM
His “i will be with you shortly” went to 1:30 PM
and ladies and gentlemen his “one minute” lasted until now, now more than 24 hours later…
And this is my experience with Silvertalks fx.
If he is able to scam me for a simple promotion, i will let you image what he will do with your $399 for his course and the $49.99 for his monthly “service“
My conclusion for Silvertalks fx is to STAY WAY, you are better on Youtube for what they teach. Charging $399 for that basic stuff that you can learn for FREE anywhere else, it’s a fraud!
How To Grow Your Instagram
Looking to get followers on Instagram? You’ve come to the right place…
Instagram is naturally a great place for brands of all shapes and sizes to gain exposure. However, growing an engaged and loyal audience on the app is no easy task. How to grow Instagram is a very asked question in the social media world.
Continue reading “How To Grow Your Instagram”