21.12.2013

<b><span style="text-decoration: underline;">1. INTRODUCTION:</span></b>

Well…at least you can say that I am consistent.

The last two big FED / FOMC announcements I got wrong. My predictions were incorrect on both occasions.

The one consistent that can be taken from my poor predictions is that on both occasions, I had a plan, and if the plan did not kick in I did not chase the market, and so, I am at the very least disciplined with my approach. Not so good at predicting the news but a great example of “have a plan and trade your plan”.

2013, is now 100% over for my trading. I took three FLASH TRADES after the FOMC and stayed with them for over 24 hours but closed them yesterday (Friday) as I do not want risk exposure over the holidays. The one consistent with trading forex is that there is always the next day to look forward to. Unless you are totally insane and rush in, there are always trade opportunities each day, and it’s all about figuring out the best ones for you as a trader to look at more deeply.

I should mention the PREMIUM SERVICE at this point. I am busily getting the software and posting formats ready and you may have noticed a few test posts in your inbox.

<b><span style="text-decoration: underline;">2. TRADE SUMMARY – DECEMBER 2013:</span></b>

This will be a section in the new PREMIUM SERVICE where I will review good and bad trades.

I have included below, two excel spread sheets for both types of trading styles that can be followed through the PREMIUM SERVICE next year on it’s live launch.

RADAR TRADES: These are pre-meditated limit order trades. I hope that these will be longer-term trades.

FLASH TRADES: These are more of an intra-day trade. They may develop into “Swing style” trades but will probably be more short term.

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<p style="text-align: center;"><a href="https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png"><img class="aligncenter size-full wp-image-2379" alt="RADAR TRADES 21122013" src="https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/RADAR-TRADES-21122013.png" width="455" height="460" /></a><b></b></p>
<p style="text-align: center;"><b><span style="text-decoration: underline;">PROFITS FROM SINGLE LOT COMPLETED RADAR TRADES:</span></b></p>
<p align="center">1 x MICRO-LOT:
14 trades at $0.10 cents each = $1.40 cents risk for a $60.80 reward.</p>
<p align="center">1 x MINI-LOT:
<span style="line-height: 1.5em;">14 trades at $1.00 each = $14.00 risk for a $608.00 reward.</span></p>
<p align="center">1 x STANDARD LOT:
14 trades at $10.00 each = $140.00 risk for a $6,080.00 reward.</p>
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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png"><img class="aligncenter size-full wp-image-2378" alt="FLASH TRADES 21122013" src="https://weeklyfxdrivethru.com/wp-content/uploads/2013/12/FLASH-TRADES-21122013.png" width="411" height="437" /></a>

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<p align="center"><b><span style="text-decoration: underline;">PROFITS FROM SINGLE LOT COMPLETED FLASH TRADES:</span></b></p>
<p align="center">1 x MICRO-LOT:
3 trades at $0.10 cents each = $0.30 cents risk for a $12.40 reward.</p>
<p align="center">1 x MINI-LOT:
3 trades at $1.00 each = $3.00 risk for $124.00 reward</p>
<p align="center">1 x STANDARD LOT:
3 trades at $10.00 each = $30.00 risk for a $1,240.00 reward</p>
<p align="center"><b><span style="text-decoration: underline;">COMBINED FLASH AND RADAR TRADES PROFIT PERFORMANCE
</span></b><b><span style="text-decoration: underline;">DECEMBER 2013</span></b></p>
<p align="center">TRADING MICRO-LOTS:
17 trades at $0.10 cents each = $1.70 risk for a $73.20 reward.</p>
<p align="center">TRADING MINI-LOTS:
17 trades at $1.00 each = $17.00 risk for a $732.00 reward.</p>
<p align="center">TRADING STANDARD LOTS:
17 trades at $10.00 each = $170.00 risk for a $7,320.00 reward.</p>
The charts above detail the RADAR and FLASH TRADES that were posted in this blog and tweeted live via twitter.com/@pipaccumulator this month.

Once the PREMIUM SERVICE is launched RADAR and FLASH TRADES will only be posted direct via email to PREMIUM SERVICE subscribers and in addition they will be posted in the secure section of the Weekly Fx Drive-Thru. This section will eventually contain a whole host of goodies for traders who are subscribers to the new PREMIUM SERVICE.

I am hoping to start 2014 with the same trading success as we displayed at the end of 2013. This year, was on reflection quite a good year. More ups than downs as the historic blogs will confirm. During the year I adapted my trading style and it is now paying real dividends, long may it continue.

It is no big secret….. It’s all about discipline.

Look my trading style -  it’s simple: -

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<p align="center">FUNDAMENTALS MATTER TO ME</p>
<p align="center">I TRADE TO MAKE MONEY…NOT TO PICK TOPS OR BOTTOMS</p>
<p align="center">I TRADE LOW RISK</p>
<p align="center">I DO NOT CHASE MARKETS</p>
<p align="center">I LIKE THE TRADES TO COME TO ME</p>
<p align="center">I AM NOT A GREEDY TRADER</p>
<p align="center">I LIKE TO TRADE MOMENTUMS IN THE DIRECTION OF TRENDS</p>
<p align="center">I USE FIBONACCI LEVELS TO ENTER &amp; EXIT ON MANY TRADES</p>
<p align="center">PLUS</p>
<p align="center">MY TRADING STYLE IS MIXED EVEN WITH THE ABOVE KEY BASICS</p>
<p align="center">I USE THE PULLBACK STRATEGY TO ENTER AND I LIKE SWING AND LONGER-TERM TRADES (WHEN POSSIBLE)</p>
Details of my new PREMIUM SERVICE that gives you the option to follow the FLASH and RADAR TRADES, amongst other things, follows later in this blog.

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<b><span style="text-decoration: underline;">3. THE VIEW FROM MY TRADING DESK:</span></b><b><span style="text-decoration: underline;"> </span></b>
<p align="center"><b><span style="text-decoration: underline;">BEN DID IT AGAIN…NOW LET’S LOOK FORWARD INTO 2014</span></b></p>
Not only did the most powerful man on this planet surprise most people once again at the FOMC when he started “Tapering”, he managed to get a rally in worldwide equities and pacify emerging markets all at the same time.

The man is a God.
<p align="center"><i>He is going to be in Las Vegas soon after retirement, in front of the Bellagio turning the famous water fountains into wine…could you just imagine that…</i></p>
 So what is ahead for us to look forward to as traders given the news?

In the New Year, it will become apparent to the markets as they absorb all the news that a major policy shift from the FED is now in play. I see USD strength as a result.

My focus early 2014 will be to maximize this news event and policy shift.

The Eurozone is still in the crapper and as a result I think that this will place pressure on the single currency and help USD strength.

I predict that Gold will suffer early on in 2014 and continue to fall as the markets suddenly get on board with the fact that we are in DEFLATIONARY times…NOT DIS-INFLATION call it what it is. Gold will pull further back as a result. Critical support lies just below $800.00

Equities is the tough one for me to predict, and my predictions, in particular with the FED show a poor success rate.  One would argue that a pullback is long overdue. We have another U.S. government close down threat on the horizon for  February 2014. Equities are priced high and major U.S. corporations have been playing with balance sheets to show bottom line growth but sales are NOT always there. This can only last so long. But the economic data out of the U.S. has of late been really good.

Dare I use the words “Common Sense?”

But, common sense would say a pullback is due in the first quarter given global concerns as the U.S. leads the way out of QE (Quantitative Easing). This would help the commodity currencies lower and additionally fuel USD strength

So for the first quarter of 2014, I am in the “King Dollar” camp. My trade set-ups will be slanted accordingly

But my big trade set ups and there are four in total, will be saved for the PREMIUM SERVICE subscribers next year.

I will probably post a blog around what I think will happen in 2014 to start off the New Year. Next year I will use this blog as a template to see how many predictions come true and gauge success.

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<b><span style="text-decoration: underline;">4. MY CURRENT LIVE TRADES:</span></b>

I have no live trades at the moment.

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<b><span style="text-decoration: underline;">5. TRADES THAT ARE ON MY RADAR:</span></b>

No trades…just Christmas and sorting out the PREMIUM SERVICE software.<b></b>

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<b><span style="text-decoration: underline;">6. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</span></b>

<b>HOLIDAY TRADING OVERVIEW:</b> In thin trading market conditions, which are what we are now a part of, the currency pairs just tend to grind very slowly in the same direction.  Small reversals are seen from time to time but usually nothing major. My suggestion is do not trade. Stay in $$$$, watch a few movies on TV.<b> </b>

<b>EUR/USD: Closing Price 1.3670.</b>  Not much of a move over the week when you consider it was an FOMC week.  We are stuck in a range with this pair 1.3600 to 1.3710-1.3750. The question is will this pair really get its skates on prior to next year and breakout in direction over the other.

<b>GBP/USD: Closing Price 1.6326. </b>Virtually unchanged in the week for the second week in a row. This is telling me that we could be either consolidating the recent uptrend to move higher in the New Year, or, we are tired at these heights and about to head lower. My thought process is that with excellent economic data from the UK of late we could be itching to move higher. One of my interesting trades for the New Year is the EUR/GBP. I think this will have a major effect on cable. My gut tells me higher supported GBP/USD towards 1.7000. Mark Carney (Governor of The Bank of England) has his work cut out here to keep currency expectations limited so as not to screw up the recent run of good data.

We are in a range from 1.6250 to 1.6475 in my view, trade the range if you feel you have to. Personally, I would wait.

<b>AUD/USD: Closing Price 0.8906</b>. The downside move re-starts. We are heading to at least 0.8500 in the coming weeks / months. Do not fight the RBA. Unless this pair rallies above 0.9000, for me it is bearish. If we rally to 0.9000 treat it like a Christmas present to enter short. The next level of support is 0.8840.

<b>NZD/USD: Closing Price 0.8190</b>. The AUD/NZD still has a major role to play with the behavior of this currency pair into the coming year. We have resumed our downtrend by breaking short of our wedge pattern on the daily chart. I see a range of 0.8100 to 0.8260. If we break below 0.8100 I think then I feel more comfortable that we have had a shift in sentiment.

<b>USD/CAD: Closing Price 1.0634.  </b>No change in the week and we are now steady above 1.0600. The range is very simple 1.0600 to 1.0700

<b>USD/CHF: Closing Price 0.8954</b>.  A break above 0.9000 would place the bulls back in control of this pair. I see no point trading this pair unless you can pick it up long around 0.8850. Personally, I would not risk a short trade.

<b>USD/JPY: Closing Price 104.03. </b> My comments are the same from last week<i> </i>
<p align="center"><i>“I am not trading this pair at the moment. I am convinced that it’s going to move</i> <i>substantially higher then it drops”.</i></p>
Nothing has changed I think that the Fibonacci extension of 105.45 looks to be a magnet, or tractor beam at the moment for JPY traders. This may be a great level to fade back to 102.50-103.00

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<b><span style="text-decoration: underline;">7. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span></b>

SUNDAY: N/A

MONDAY: CAD – GDP

TUESDAY: N/A

WEDNESDAY: N/A

THURSDAY: N/A

FRIDAY: N/A

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<b><span style="text-decoration: underline;">8. THE PREMIUM SERVICE:</span></b>
<p align="center"><b><span style="text-decoration: underline;">THE WEEKLY FX DRIVE-THRU</span></b><b>
<span style="text-decoration: underline;">PREMIUM SERVICE  2014 </span></b>

Next year I am looking to introduce a “Premium Service” for those who want it.

The “Drive-Thru” in its current format will remain a weekly blog post although it will be a lot shorter. There will be one major exception in its current format  “RADAR TRADES” will now only be available via the Premium Service. In addition, “TRADE IDEAS &amp; SET UPS” that are tweeted will now only be available to Premium Service subscribers by email and in addition they can be viewed inside the secure section of the Weekly Fx Drive-Thru.

There will lots of posts to the PREMIUM SERVICE section of the Weekly Fx Drive-Thru and in addition, I will also be introducing “FLASH TRADES” these will be up to the minute as they happen trades.

Over the past several months, feedback from subscribers to the “Drive-Thru”, or from readers of the blog via Google+, LinkedIn or Twitter have been raising many questions about Forex Trading in general, such as: -<b> </b>

</p><p align="center"><b>Placing Stops</b></p>
<p align="center"><b>Strategies on entry and exit</b></p>
<p align="center"><b>Working with a Trade Plan</b></p>
<p align="center"><b>What is a Trade Plan?</b></p>
<p align="center"><b>Risk Assessment</b></p>
<p align="center"><b>When to fade trades</b></p>
<p align="center"><b>How to cost average effectively</b></p>
<p align="center"><b>How to use Trade Zones effectively - Buy Zones and Sell zones</b></p>
<p align="center"><b>Working with Fibonacci levels</b></p>
<p align="center"><b>How to find a good broker to partner with</b></p>
<p align="center"><b>Chart analysis</b></p>
The list is quite extensive, however, it refers only to all the recent questions that I have answered.

To have a learning centre available and to look at the trades that are on my radar at the same time seemed to be a very good fit as a trading philosophy…hence the Premium Service.

I am also looking to offer training and information based “Webinars” to Premium Service subscription members, if I have sufficient participants. These will be fee based to cover costs.

Whilst upon first look, it may appear that the Premium Service is directed solely at new traders, or those with intermediate skill levels, please note this is not my intention. Trading can be lonely, and sometimes it is good to feel that you are part of a team. With this in mind, I am thinking that a “Chat Room” style area would be of benefit to all traders to share ideas and trade set-ups. Plus, whether a new trader or experienced trader it is always good to have a library of information available close at hand.

The Weekly Fx-Drive-Thru will remain, and will continue to be posted weekly on Saturday’s although it will be a shorter version.

The Midweek Fx Fix will cease immediately and in 2014 the Premium Service will be available to those who want to take advantage. The training and background support material will be added on a regular basis to grow into a library of effective Fx trading tools

What are the costs?

My initial thoughts are as follows: -

There will be 40 weekly blogs / issues per year (I will not write in the Summer and over Christmas periods), with an unlimited amount of follow ups during the week to review and act upon “Radar Trades” and issues emanating from previous blogs. In addition trade ideas for trades already in play would also be part of the service, as I will be trading my own trade recommendations.

I do not want to become a finance administrator on a daily basis so I want to keep the subscription options as few as possible.
<p align="center"><b>ANNUAL (40 WEEK) SUBSCRIPTION: $750.00 (this equates to $18.75 per week) </b></p>
<p align="center"><b>20 WEEKS SUBSCRIPTION: $450.00 (this equates to $22.50 per week) </b></p>
<p align="center"><b>10 WEEKS SUBSCRIPTION: $250.00 (this equates to $25.00 per week) </b></p>
<p align="center"><b>(ALL FEES ARE IN USD)</b></p>
I would like to get your feedback to this proposal.

If you have the time please respond to me at <a href="mailto:scott@pickering.bz">premiumservice@thepipaccumulator.com</a> with your thoughts on the “Premium Service” and whether you think that this is something you would sign up for and take advantage of.

Thank you to those who have already given feedback, it is much appreciated.

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<b><span style="text-decoration: underline;">9. FINAL THOUGHTS:</span></b>

The next Weekly Fx Drive-Thru in this format will be posted on Saturday 4<sup>th</sup> January 2014.

In the interim, I will be posting some teasers regarding the PREMIUM SERVICE to the social networks and to existing email subscribers of this blog, so that you can see what is coming early next year.

I am hoping to have the launch email ready to go very soon so that the start date can be confirmed, and so that those interested can subscribe and take a look at the secure area and become familiar with the layout.

As I am NOT trading until 2014, it just remains for me to wish you a HAPPY CHRISTMAS or HAPPY HOLIDAYS depending upon your persuasion etc.

See you next year….hopefully.

Finally….. if you to trade between now and 2014. Take small positions.

Scott Pickering
The Pip Accumulator
Saturday December 21st 2013

EMAIL / FOLLOW ME AT:
<a href="mailto:drivethru@thepipaccumulator.com">drivethru@thepipaccumulator.com
</a>Twitter: @pipaccumulator
<span style="line-height: 1.5em;">Google+/scottpickering
</span><span style="line-height: 1.5em;">StockTwits; thepipaccumulator</span>

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