The difference between Bedtime Trader and Forex Insider Daily

As I keep saying, I want Agora Insider to be a very open resource that helps you find the right extra income strategy for you.

And, as I’m in the very privileged position of knowing almost everyone whose ideas we publish, I hope to be able to give you an insight into things that you just won’t find anywhere else.

With this question I got from one reader, I can certainly do that.

He writes:

“…there are two approaches which are very similar, i.e. Bedtime Trader and Forex Insider Daily…

“…it would be very useful to have a comparison of the two, with a risk analysis for each, so that a better evaluation could be made as to which approach is the better for different people in different situations.”

It would be useful.

So let’s do it…

The major difference

One thing I can tell you before anything else is that Bedtime Trader is a strategy with specific entry and exit points…

Whilst Forex Insider Daily is an editorial service which aims to inform you about what’s going on in the markets.

So, if you’re not comfortable working out your own trades, Bedtime Trader is probably more suitable.

Whereas if you already have quite a lot of experience in the markets but want to understand why prices are moving and use that insight to inform your own trading, Forex Insider Daily will be perfect for you.

You can see that even though both products are about forex, they are fundamentally different in the service they provide.

If you want a strategy: Bedtime Trader.

If you want insight: Forex Insider Daily.

But even then, what about the difference in risk, how much it’ll cost you and all the nitty-gritty?

Well, let’s take each service on it’s own:

Bedtime Trader

The strategy itself will cost you £347.

This includes the manual that outlines the strategy, the USB key that installs the trade finding software, the weekly performance updates and FAQs and support from Kevin and Janet.

I’ve asked Frank (who works as the Managing Editor for Bedtime Trader – helping with support and making sure everything runs smoothly) and he recommends you start with at least £500 trading bank.

From that point, a well-managed risk approach should see you build your bank effectively.

As with any strategy like this, my own recommendation is that you start with smaller stakes i.e. 50p to £1 a point and build that up if you find it works well for you.

You can see what you would have made over 2012 with £1 a point here:

The track record for this year has continued to perform well and it’s still not had a losing month. In fact, from the weekly updates I’ve been getting it’s working really well.

I’d also recommend that you take full advantage of the 60 day trial.

If you struggle in the first week of trying it, don’t just give up. Get in touch with Kevin and Janet and ask them to help. They want the strategy to work for you and will do what they can to make sure it does.

For those who know about forex a bit, I can tell you that the strategy uses DoJi candlesticks, which Kevin taught me about and I found very interesting. The philosophy behind it is very sound and it helps that you can understand why you’re putting the trades on.

OK. I think that’s the main things about it. I can tell you from an insider’s point of view that it’s selling very well and a lot of people are using it successfully.

I have also heard on the grapevine that they’re looking to improve the software even further with a few handy tweaks that will colour co-ordinate things and eliminate a lot more risk. Sounds very interesting and just shows that Kevin and Janet really are behind this product and want it to be the best it can be.

You can find out more and give it a try out here.

Now let’s turn our attention to Forex Insider Daily…

Forex Insider Daily

As I say, Forex Insider Daily is not a specific strategy.

It’s a daily email service from a forex expert called Tom Tragett.

Tom’s a good friend of mine and I can tell you that he’s a very nice chap who’s a pleasure to share a pint with.

What I can also attest to is the fact that this guy lives forex. His entire life is based around trading and every time we meet he’s always got one of those little gadgets with him that feed market prices live.

But is his service something for you?

Well, if you’re already trading forex – definitely.

And I say that with complete bias

Seriously though, if you’re a forex trader you should be reading Tom’s insight because it’s excellent and frankly it’s massively under-priced at £97 for the first year.

For that price you get the daily email from Tom in which he tells you what’s been going on in the markets, what he thinks is going to happen and reveals his own trading tactics for the day ahead.

He doesn’t give specific advice so you need to know a bit about how to understand what he’s saying and how to place your own trade in the market and what levels you want to set your trade at. Ultimately it’s down to your discretion.

That’s the same for risk levels with this. Thought Tom does aim for longer term trades himself, it’s really up to you manage your risk and how much you trade.

From the feedback I’ve seen, the reason people like this service is that you’re essentially getting to see how a professional trader makes his money. You can imagine how valuable that could be for you.

Of course, this does all sound a bit intensive and does seem to require a bit of knowledge about forex. And sure, it does help if you know about it.

But to be fair, Tom and Frank (who helps to manage the service) provide a lot of teaching materials when you join and if you have questions and stuff, they’re more than happy to point you in the right direction.

Also, we’ve put a massive 90 day money back guarantee on this so that you have plenty of time to get used to Tom’s advice and see how it works for you.

You can find out more and take the trial here.

In conclusion…

It’s really about what stage you’re at in your forex journey and what you’re looking for.

If you want a strategy: Bedtime Trader.

If you want insight: Forex Insider Daily.

And if you want to become a forex mastermind, it frankly wouldn’t hurt to have both.

Best wishes,

Glenn

http://www.agorainsider.co.uk/bedtime-trader-and-forex-insider-daily/

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