<strong><span style="font-size: 14pt;">THE DAILY FX POST</span>
<span style="font-size: 14pt;"> from</span>
<span style="font-size: 14pt;"> THE PREMIUM SERVICE</span></strong>

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<strong>DATE: Friday 10th<sup>th</sup> October 2014
REF: #104</strong>

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<ol>
	<li><span style="font-size: 12pt;"><strong> OVERVIEW – INITIAL THOUGHTS:</strong></span></li>
</ol>
Wow…bit of a change in 24 hours.

A few of you know that in addition to my PREMIUM SERVICE trades I manage a few other trades and yesterday it was a nerves of steel day for me. I was in email conversations with a few of you yesterday during the day regarding my positions and how much more RISK could I tolerate. As stated yesterday in this blog, and, many times on previous occasions, I am always well within my RISK MANAGEMENT tolerances

My total limit on risk is 3% and yesterday via the broker accounts I operate with even with the total of risk added together I was below 1.2%.

Moving forward; we are now in a period of market uncertainty…at least that's what I am reading. Frankly, I am a little confused; apart from Ebola, nothing fundamentally has changed. The markets are fickle, they are in denial, they are complacent and all this stuff about future pricing mechanisms, to this day I find this bizarre at times. The markets are like “ Chickens running around a farmyard with their heads chopped off” – direction causes a problem, it cannot see where it’s going.

Guys…. Nothing has changed.

<strong>There is no more QE.</strong>

<strong>The FED and ECB are on divergent monetary policies.</strong>

<strong>Commodities are leading the way.</strong>

<strong>USD is bound to strengthen as liquidity dries up and commodities sell off.</strong>

<strong>China slowing – demand for commodities dropping.</strong>

<strong>Eurozone – where do I start… it is just so pathetically managed if it were a business managed by me… they would all be sacked in Brussels and the ECB.</strong>

<strong>Equities are pulling back on JPY strength, bond prices moves add to JPY strength and equities are reacting lower.</strong>

<strong>Geopolitical worries are still there… Ebola, ISIS, Ukraine/Russia.</strong>

The reactions to the FOMC minutes were just a complete overreaction in my opinion.

I am not adding to trades today. I will be looking to next week to re-enter again. If you are going to trade today, be careful.

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<ol start="2">
	<li><span style="font-size: 12pt;"><strong> KEY NEWS EVENTS TODAY (BASED UPON (NYC) EDT TIME ZONE):</strong></span></li>
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USD: - Employment Change and Unemployment Rate.

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<ol start="3">
	<li><span style="font-size: 12pt;"><strong> EXISTING LIVE TRADES:</strong></span></li>
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<strong>RADAR TRADES:</strong>

No LIVE RADAR TRADES at the present time.<strong> </strong>

<strong>
FLASH TRADES:</strong>

FT190
NZD/USD
Short at 0.7793
Stop at 0.8050
Limit at 0.6580
Price Now: 0.7804
Current Profit / Loss Position: -11 pips

FT191
AUD/USD
Short at 0.8709
Stop at 0.9100
Limit at 0.8000
Price Now: 0.8698
Current Profit / Loss Position: +10 pips

<strong>
FUNDAMENTAL TRADES:</strong>

FUN44
GBP/NZD
Long at 2.0507
Stop at 2.0000
Limit at 2.3200
Price Now: 2.0534
Current Profit / Loss Position: +27 pips
<ol start="4">
	<li><span style="font-size: 12pt;"><strong> LIMIT &amp; STOP ORDERS WITH BROKERS:</strong></span></li>
</ol>
I have no LIMIT or STOP orders with any brokers at the present time.

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<ol start="5">
	<li><span style="font-size: 12pt;"><strong> FINAL THOUGHTS:</strong></span></li>
</ol>
I will be on twitter to advise you of my actions as the day unfolds.

Good luck today.

Scott Pickering
The Pip Accumulator
<a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>
Twitter: @ThePremService
Email: premiumserice@weeklyfxdrivethru.com

<strong>DISCLAIMER:</strong>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. 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 adviser if you have any doubts.

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