(4074,1,'2014-07-12 09:16:07','2014-07-12 14:16:07','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\"><img class=\"aligncenter size-full wp-image-4067\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\" alt=\"PREM SERV PROFITS1 12072104\" width=\"450\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\"><img class=\"aligncenter size-full wp-image-4068\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\" alt=\"PREM SERV PROFITS2 12072014\" width=\"449\" height=\"414\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: left;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.</p>\r\n<p style=\"text-align: center;\"><strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong><strong> </strong>\r\n\r\nThis section’s content will re-appear after the summer break.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT153\r\nUSD/CAD\r\nLong\r\nEntry: 1.0676\r\nStop Loss: 1.0575\r\nLimit / Target: 1.0828\r\nWeekly Closing Price: 1.0733\r\nPosition: +57 pips\r\n\r\nFT154\r\nAUD/USD\r\nShort\r\nEntry: 0.9372\r\nStop Loss: 0.9480\r\nLimit / Target: 0.8500\r\nWeekly Closing Price: 0.9391\r\nPosition: -19 pips\r\n\r\nFT154\r\nNZD/USD\r\nShort\r\nEntry: 0.8806\r\nStop Loss: 0.8880\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: +3 pips\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0643\r\nPosition: -182 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: -133 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3604\r\nPosition: -5 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9389\r\nPosition: -411 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI have very few trades on my radar. The trades listed below I will enter with my brokers on Sunday evening / Monday morning. I will tweet as they are entered. I see no good reason given the world geopolitical risks at the moment adding to risk over the weekend.\r\n\r\nRT129\r\nGBP/USD\r\nLong\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\nRT130\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\nRT131\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\nRT132\r\nEUR/GBP\r\nShort\r\nEntry: 0.7960\r\nStop: 0.8000\r\nLimit: 0.7600\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong><strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/DKK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nUSD/JPY\r\nAUD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nEUR/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 12th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering','PATIENT TRADERS ARE REWARDED FOR WAITING','','publish','open','closed','','patient-traders-rewarded-waiting','','','2014-07-12 09:16:07','2014-07-12 14:16:07','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4074',0,'member_posts','',0),(4075,1,'2014-07-12 09:14:42','2014-07-12 14:14:42','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\"><img class=\"aligncenter size-full wp-image-4067\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\" alt=\"PREM SERV PROFITS1 12072104\" width=\"450\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\"><img class=\"aligncenter size-full wp-image-4068\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\" alt=\"PREM SERV PROFITS2 12072014\" width=\"449\" height=\"414\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: center;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.\r\n\r\n<strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong><strong> </strong>\r\n\r\nThis section’s content will re-appear after the summer break.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT153\r\nUSD/CAD\r\nLong\r\nEntry: 1.0676\r\nStop Loss: 1.0575\r\nLimit / Target: 1.0828\r\nWeekly Closing Price: 1.0733\r\nPosition: +57 pips\r\n\r\nFT154\r\nAUD/USD\r\nShort\r\nEntry: 0.9372\r\nStop Loss: 0.9480\r\nLimit / Target: 0.8500\r\nWeekly Closing Price: 0.9391\r\nPosition: -19 pips\r\n\r\nFT154\r\nNZD/USD\r\nShort\r\nEntry: 0.8806\r\nStop Loss: 0.8880\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: +3 pips\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0643\r\nPosition: -182 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: -133 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3604\r\nPosition: -5 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9389\r\nPosition: -411 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI have very few trades on my radar. The trades listed below I will enter with my brokers on Sunday evening / Monday morning. I will tweet as they are entered. I see no good reason given the world geopolitical risks at the moment adding to risk over the weekend.\r\n\r\nRT129\r\nGBP/USD\r\nLong\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\nRT130\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\nRT131\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\nRT132\r\nEUR/GBP\r\nShort\r\nEntry: 0.7960\r\nStop: 0.8000\r\nLimit: 0.7600\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong><strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/DKK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:\r\n\r\n</span>EUR/USD\r\nEUR/GBP\r\nUSD/JPY\r\nAUD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nEUR/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 12th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering','PATIENT TRADERS ARE REWARDED FOR WAITING','','inherit','open','closed','','4074-revision-v1','','','2014-07-12 09:14:42','2014-07-12 14:14:42','',4074,'https://weeklyfxdrivethru.com/4074-revision-v1/',0,'revision','',0),(4076,1,'2014-07-12 09:16:07','2014-07-12 14:16:07','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\"><img class=\"aligncenter size-full wp-image-4067\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-12072104.png\" alt=\"PREM SERV PROFITS1 12072104\" width=\"450\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\"><img class=\"aligncenter size-full wp-image-4068\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-12072014.png\" alt=\"PREM SERV PROFITS2 12072014\" width=\"449\" height=\"414\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: left;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.</p>\r\n<p style=\"text-align: center;\"><strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADER TOPICS:</strong><strong> </strong>\r\n\r\nThis section’s content will re-appear after the summer break.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT153\r\nUSD/CAD\r\nLong\r\nEntry: 1.0676\r\nStop Loss: 1.0575\r\nLimit / Target: 1.0828\r\nWeekly Closing Price: 1.0733\r\nPosition: +57 pips\r\n\r\nFT154\r\nAUD/USD\r\nShort\r\nEntry: 0.9372\r\nStop Loss: 0.9480\r\nLimit / Target: 0.8500\r\nWeekly Closing Price: 0.9391\r\nPosition: -19 pips\r\n\r\nFT154\r\nNZD/USD\r\nShort\r\nEntry: 0.8806\r\nStop Loss: 0.8880\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: +3 pips\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD (This pair is hedged from -100 pips)\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0643\r\nPosition: -182 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8803\r\nPosition: -133 pips\r\n\r\nRT125\r\nEUR/USD\r\nShort\r\nCost Average: 1.3599\r\nStop Loss: 1.3670\r\nLimit: 1.3375\r\nWeekly Closing Price: 1.3604\r\nPosition: -5 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD (This pair is hedged from -150 pips)\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9389\r\nPosition: -411 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI have very few trades on my radar. The trades listed below I will enter with my brokers on Sunday evening / Monday morning. I will tweet as they are entered. I see no good reason given the world geopolitical risks at the moment adding to risk over the weekend.\r\n\r\nRT129\r\nGBP/USD\r\nLong\r\nEntry: 1.7092\r\nStop: 1.7050\r\nLimit: 1.7300\r\n\r\nRT130\r\nUSD/CHF\r\nLong\r\nEntry: 0.8910\r\nStop: 0.8850\r\nLimit: 0.9110\r\n\r\nRT131\r\nGBP/CHF\r\nLong\r\nEntry: 1.5270\r\nStop: 1.5150\r\nLimit: 1.5480\r\n\r\nRT132\r\nEUR/GBP\r\nShort\r\nEntry: 0.7960\r\nStop: 0.8000\r\nLimit: 0.7600\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong><strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/DKK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nUSD/JPY\r\nAUD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nEUR/AUD\r\nEUR/CHF\r\nAUD/NZD\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\n&nbsp;\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 12th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering','PATIENT TRADERS ARE REWARDED FOR WAITING','','inherit','open','closed','','4074-revision-v1','','','2014-07-12 09:16:07','2014-07-12 14:16:07','',4074,'https://weeklyfxdrivethru.com/4074-revision-v1/',0,'revision','',0),(4080,1,'2014-07-12 09:44:37','2014-07-12 14:44:37','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: left;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.</p>\r\n<p style=\"text-align: center;\"><strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.<strong> </strong>\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in this blog to the PREMIUM SERVICE.\r\n\r\nIf you would like further information on what the PREMIUM SERVICE is all about please visit <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the welcome page there is a drop-down menu titled PREMIUM SERVICE click on this and more data and also the up to date 2014 performance statistics are contained there to enable you to review at your leisure.\r\n\r\nShould you decided to subscribe click on SIGN-UP and the instructions are easy to follow you just require a PayPal account to enable to subscription. There are three subscription options for you to chose from.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\ndrivethru@weeklyfxdrivethru.com\r\nSaturday July 12th 2014\r\n\r\nFOLLOW ME AT:\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','PATIENT TRADERS ARE REWARDED FOR WAITING','','publish','open','closed','','patient-traders-rewarded-waiting','','','2014-07-12 09:44:37','2014-07-12 14:44:37','',0,'https://weeklyfxdrivethru.com/?p=4080',0,'post','',0),(4081,1,'2014-07-12 09:43:21','2014-07-12 14:43:21','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: center;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.\r\n\r\n<strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.<strong> </strong>\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in this blog to the PREMIUM SERVICE.\r\n\r\nIf you would like further information on what the PREMIUM SERVICE is all about please visit <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the welcome page there is a drop-down menu titled PREMIUM SERVICE click on this and more data and also the up to date 2014 performance statistics are contained there to enable you to review at your leisure.\r\n\r\nShould you decided to subscribe click on SIGN-UP and the instructions are easy to follow you just require a PayPal account to enable to subscription. There are three subscription options for you to chose from.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\ndrivethru@weeklyfxdrivethru.com\r\nSaturday July 12th 2014\r\n\r\nFOLLOW ME AT:\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','PATIENT TRADERS ARE REWARDED FOR WAITING','','inherit','open','closed','','4080-revision-v1','','','2014-07-12 09:43:21','2014-07-12 14:43:21','',4080,'https://weeklyfxdrivethru.com/4080-revision-v1/',0,'revision','',0),(4082,1,'2014-07-12 09:44:37','2014-07-12 14:44:37','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nA very unusual week is my description of the events that we witnessed over the past 7 days. There were short periods of volatility within what feels like the summer doldrums, but overall when you look back I think all we did was tighten up many of the ranges that we already had in play.\r\n\r\nAs a trader I know I have to work with the charts that are in front of me, however I have a huge personal issue differentiating my fundamental views from the charts on my computer when reviewing my technical analysis. Fundamentally some currency pairs have, in my opinion, highly inflated exchange rates e.g. EUR, AUD and NZD. They just do not react in line with my thoughts and I am holding positions short on all three against the USD. I think that I am being driven by fear of not maximizing any down side move that may start at a time that I am least expecting it. I am probably over-stubborn in holding these trades but, given the fact we have in real terms little volatility I am happy to sit tight and hold losses for now.\r\n\r\nThe Eurozone was big in the news last week, the Portugal banking system raised its head, and manufacturing data was very week from Germany, Italy and France. Add to this a weak failing bond auction from Greece and my EUR/USD seems set to come good sooner or later.\r\n\r\nThe FED minutes from the last meeting were released and nothing new was evident. In fact, the USD was taken to the cleaners after the minutes were released allowing me some great entry levels on short trades in the NZD and AUD.\r\n\r\nWeak Chinese data was apparently the reason for equities in Asia, Europe and Wall Street declining towards the end of the week; I just thought it was profit taking.\r\n\r\nThe bottom line is at the moment the market only has buyers. There are no sellers. It is a one sided market and until sellers come back we are going to have to deal with what we have. A slow upward grinding equity market and very little volatility to boot. It will only get worse as we head deeper into the summer vacation times.\r\n\r\nBig news personally, is that if you live in Canada the PREMIUM SERVICE is on its way to you by way of a series of presentations to attract new subscribers. I have a series of 5 presentations scheduled for Montreal in September and I hope to be across the other major Canadian cities by the end of 2014. I am planning in 2015 if Canada is successful, to take the presentations to Europe, to be specific Ireland and the UK.\r\n\r\nThe income from single-lot trades continues to grow each week, even though the numbers of trades being taken are less than anticipated. However, it’s all about banking $$$$ and as long as this continues to be the case I should not complain.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by added and reducing trades as moves develop, or as in 2014, try to develop has really paid off one two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\n&nbsp;\r\n\r\n<strong>2. THE VIEW FROM MY TRADING DESK:</strong>\r\n<p style=\"text-align: center;\"><strong>PATIENT TRADERS ARE REWARDED FOR WAITING</strong></p>\r\nFor weeks I have been writing about the slow markets and for weeks I have been reading about slow markets from both the perspective of traders and supporting banks. The Forex market changes and evolves all the time, as traders we adapt to the charts we are presented with and we react accordingly. One thing that will happen is that the volatility that we are missing at the moment will eventually return and instead of the huge temptation to force trades from what we have now we will return to an environment of choosing trades once again.\r\n\r\nIn the TRADER TOPICS section (PREMIUM SERVICE version), I have written recently about not forcing trades, wait for trades to come to you etc. If we constantly show TRADING DISCIPLINE and do not let a slow moving market with little trading volume change our focus, as a trader you will survive longer.\r\n\r\nIn this context it is how I arrived at the title “PATIENT TRADERS ARE REWARDED FOR WAITING”. The markets will return and we will benefit in the future for now we need to be patient.\r\n<p style=\"text-align: left;\">There are many news items at the present time that one would have thought would have created a more volatile market with directional momentum moves.</p>\r\n<p style=\"text-align: center;\"><strong>FED TAPERING</strong>\r\n<strong> FED INTEREST RATE POLICY (or lack of!!)</strong>\r\n<strong> EUROZONE EASING</strong>\r\n<strong> CHINA SLOWDOWN</strong>\r\n<strong> MIDDLE EAST TENSIONS (Israel / Gaza and Lebanon)</strong>\r\n<strong> MIDDLE EAST TENSIONS (Iraq /Syria and Iran)</strong>\r\n<strong> HIGHER OIL PRICES</strong>\r\n<strong> EUROZONE DEFLATION</strong>\r\n<strong> ABENOMICS in JAPAN (success / failure/ stagnating)</strong>\r\n<strong> PORTUGUESE – BANCO ESPIRITO SANTO BANK</strong>\r\n<strong>EUROZONE WEAKENING MANUFACTURING DATA</strong></p>\r\nAs you know, I am a fundamental trader first, so I feel the frustration of lack of movement and more importantly the directional momentum more than most when the fundamentals appear blatantly obvious. The fact is, that the technical trades just don\'t line up and, trades taken in haste do tend to fail and, if by fluke you are successful it is usually a false belief.\r\n\r\nWe are operating in tight trading ranges at the moment and when we think we are breaking out or breaking down the moves evaporate. I have tweeted and written on numerous occasions that patience is a virtue; it really is at the moment.\r\n\r\nSit tight and wait for the trades to come to you and exercise patience. This is one of the keys to trading longevity<strong> </strong><strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>3. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> We are consolidating in a tight trading range of 1.3575 to 1.3650. The support and resistance levels have been tested a couple of times and they hold. Therefore if you like range trading, work away, just remember to place tight stops…. just in case.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7085 to 1.7185.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. This pair as far as I am concerned is consolidating. It is underperforming in relation to the Kiwi but it is not falling and to be honest as long as U.S. equities continue to grind higher the AUD currency in general will stay well supported. I am looking at 0.9325 as the bull bear support line and 0.9425 at the resistance level.<strong> </strong>\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. I am short. I do NOT like being short but I feel that this pair is grossly over-valued. My thoughts are 100% irrelevant because it is what it is. I do feel thought that Wheeler (RBNZ governor) will have a huge issue if he raises rates in two weeks, as we will see this pair at 0.9000 and probably above. Milk prices are struggling and so will the New Zealand economy if the NZD strength is allowed to continue. But these are my fundamental views. For now this currency is strong and it is not yielding. The range that I am looking at it 0.8725 to 0.8842 (52-week highs)\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> A disastrous employment data release last Friday gave the CAD the move higher. I am long and now in a great profitable position…happy days!!! The next resistance level is at 1.0750 then 1.0830. Support will be good at 1.0700\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. Nothing much has changed with levels with this pair. The trading range has not really altered. I see support at 0.8910 and resistance at 0.9110.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>One week I think that the JPY is strengthening…. then, the next week I think that it is weakening. I want to see it break out so that I can make a decision. The JPY does not interest me at all at the moment and I am keeping well away from it. I see the range at 100.75 to 101.60.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: EUR – Draghi Speaks.\r\nMONDAY: AUD – Monetarey Policy Meeting Minutes.\r\n\r\nTUESDAY: EUR – German ZEW Economic Statement.\r\nTUESDAY: GBP – Carney Speaks.\r\nTUESDAY: USD – Retail Sales, Yellen testifies.\r\nTUESDAY: NZD – CPi.\r\nTUESDAY: CNY – GDP.\r\n\r\nWEDNESDAY: GBP – Unemployment data.\r\nWEDNESDAY: CAD – BOC Rate Statement &amp; Press Conference.\r\nWEDNESDAY: USD – Yellen testifies.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: CAD – Core CPi.\r\n\r\n<strong>5. THE PREMIUM SERVICE:</strong>\r\n\r\nI refer quite a bit in this blog to the PREMIUM SERVICE.\r\n\r\nIf you would like further information on what the PREMIUM SERVICE is all about please visit <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nAt the top of the welcome page there is a drop-down menu titled PREMIUM SERVICE click on this and more data and also the up to date 2014 performance statistics are contained there to enable you to review at your leisure.\r\n\r\nShould you decided to subscribe click on SIGN-UP and the instructions are easy to follow you just require a PayPal account to enable to subscription. There are three subscription options for you to chose from.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. FINAL THOUGHTS:</strong>\r\n\r\nMy only comment for this section this week is to be careful. Many traders are on a break now for the summer, personally, I will be joining them in a couple of weeks.\r\n\r\nWe are most definitely in the summer doldrums with trading volatility and volumes. We cannot manufacture trades, we can only deal with what we are presented with and that may not be much.\r\n\r\nAs I have written the last two weeks we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\ndrivethru@weeklyfxdrivethru.com\r\nSaturday July 12th 2014\r\n\r\nFOLLOW ME AT:\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','PATIENT TRADERS ARE REWARDED FOR WAITING','','inherit','open','closed','','4080-revision-v1','','','2014-07-12 09:44:37','2014-07-12 14:44:37','',4080,'https://weeklyfxdrivethru.com/4080-revision-v1/',0,'revision','',0),(4083,1,'2014-07-14 07:43:46','2014-07-14 12:43:46','Good Day,\r\n\r\nHope that you all had a great weekend.\r\n\r\nWe are still range bound this morning but with Asian and European markets both positive, it looks like the North American markets will follow suit and copy. Oil, Gold and Copper are all red at the moment (to varying degrees) but not to the extent that I think the USD would strengthen dramatically. Therefore, I think that the slow upward grind will probably be the order of the day again today.\r\n\r\nThe RADAR TRADES from the weekends blog were placed about an hour ago, and I did alter the entry levels on a couple of them to reflect the overnight moves (for me).  The spike lower on the GBP, has just triggered entries for the GBP/USD long, GBP/CHF long and EUR/GBP short trades. I have great entries if they bounce..happy days!!\r\n\r\nI covered the USD/CAD  trade (FT153) for +54 pips as, I think with the slow bring higher this pair will re-test the breakout level of 1.0690 at some point either today or tomorrow before moving higher. I have placed a new trade as follows with my brokers: -\r\n\r\nRT133\r\nUSD/CAD\r\nLong\r\nEntry at 1.0685\r\nStop Loss 1.0650\r\nLimit 1.0850\r\n\r\nI am expecting the NZD/USD to break higher this week and test the 52 week highs at 0.8842. Whilst I will not chase it higher I am thinking of a trade entry  around 0.8830 to go higher for the stop-loss run and possibly a fresh breakout towards 0.9000. Not sure if I will do this but it is on my mind. The RBNZ is up next week, I think, to review interest rates so if Wheeler the dealer increases rates that would be a good trade. If he does not raise rates, my short that would be a good trade but I will need to revise the stop to cope with spikes ahead of the release of the data. I may hold the short trade to add to the position and short from the 0.9000 region, but this is not usually my style of trading.....  I never entered his trade to do that.\r\n\r\n&nbsp;\r\n\r\nAll in all it looks like another very slow day ahead....\r\n\r\nDo not expect much on twitter....\r\n\r\nScott','#67 - THE DAILY FX POST - Monday 14th July 2014.','','publish','open','closed','','67-daily-fx-post-monday-14th-july-2014','','','2014-07-14 07:43:46','2014-07-14 12:43:46','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4083',0,'member_posts','',0),(4084,1,'2014-07-14 07:43:46','2014-07-14 12:43:46','Good Day,\r\n\r\nHope that you all had a great weekend.\r\n\r\nWe are still range bound this morning but with Asian and European markets both positive, it looks like the North American markets will follow suit and copy. Oil, Gold and Copper are all red at the moment (to varying degrees) but not to the extent that I think the USD would strengthen dramatically. Therefore, I think that the slow upward grind will probably be the order of the day again today.\r\n\r\nThe RADAR TRADES from the weekends blog were placed about an hour ago, and I did alter the entry levels on a couple of them to reflect the overnight moves (for me).  The spike lower on the GBP, has just triggered entries for the GBP/USD long, GBP/CHF long and EUR/GBP short trades. I have great entries if they bounce..happy days!!\r\n\r\nI covered the USD/CAD  trade (FT153) for +54 pips as, I think with the slow bring higher this pair will re-test the breakout level of 1.0690 at some point either today or tomorrow before moving higher. I have placed a new trade as follows with my brokers: -\r\n\r\nRT133\r\nUSD/CAD\r\nLong\r\nEntry at 1.0685\r\nStop Loss 1.0650\r\nLimit 1.0850\r\n\r\nI am expecting the NZD/USD to break higher this week and test the 52 week highs at 0.8842. Whilst I will not chase it higher I am thinking of a trade entry  around 0.8830 to go higher for the stop-loss run and possibly a fresh breakout towards 0.9000. Not sure if I will do this but it is on my mind. The RBNZ is up next week, I think, to review interest rates so if Wheeler the dealer increases rates that would be a good trade. If he does not raise rates, my short that would be a good trade but I will need to revise the stop to cope with spikes ahead of the release of the data. I may hold the short trade to add to the position and short from the 0.9000 region, but this is not usually my style of trading.....  I never entered his trade to do that.\r\n\r\n&nbsp;\r\n\r\nAll in all it looks like another very slow day ahead....\r\n\r\nDo not expect much on twitter....\r\n\r\nScott','#67 - THE DAILY FX POST - Monday 14th July 2014.','','inherit','open','closed','','4083-revision-v1','','','2014-07-14 07:43:46','2014-07-14 12:43:46','',4083,'https://weeklyfxdrivethru.com/4083-revision-v1/',0,'revision','',0),(4085,1,'2014-07-15 07:08:25','2014-07-15 12:08:25','Good Day,\r\n\r\nI got out of bed at 3.45am this morning for GBP CPi, Eurozone and German Economic Indicators and Carney talk.\r\n\r\nI closed all three cable related trades and banked nice profits on the back of CPi data. So, I am happy that I was awake. The ZEW data missed and the EUR/USD struggled to move lower, so much so I decided to cover for a massive 10 pip gain after being in my short trade for 10 days. I have decided to try a short agin from 1.3650 if we get to that level when Yellen testifies later. The EUR/USD just will not drop lower and break below 1.3575. On the last few breaks below 1.3600 we have not even seen a test close to 1.3575, so my short trade at 1.3599 was poor.\r\n\r\nIn addition, I have exited the AUD and NZD trades to remove risk. The RT130 USD/CHF limit order trade that has yet to trigger I have cancelled as well.\r\n\r\nNothing else on my mind at the moment. I am waiting to hear what Yellen says.\r\n\r\nDo not forget later today we have NZD (CPi) and China (GDP) news to work with.\r\n\r\nTake care...do not get suckered today. I just cannot see Yellen doing a \"CARNEY\" but you never know.\r\n\r\nScott','#68 - THE DAILY FX POST, Tuesday 15th July 2014','','publish','open','closed','','68-daily-fx-post-tuesday-15th-july-2014','','','2014-07-15 07:08:25','2014-07-15 12:08:25','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4085',0,'member_posts','',0),(4086,1,'2014-07-15 07:08:09','2014-07-15 12:08:09','Good Day,\r\n\r\nI got out of bed at 3.45am this morning for GBP CPi, Eurozone and German Economic Indicators and Carney talk.\r\n\r\nI closed all three cable related trades and banked nice profits on the back of CPi data. So, I am happy that I was awake. The ZEW data missed and the EUR/USD struggled to move lower, so much so I decided to cover for a massive 10 pip gain after being in my short trade for 10 days. I have decided to try a short agin from 1.3650 if we get to that level when Yellen testifies later. The EUR/USD just will not drop lower and break below 1.3575. On the last few breaks below 1.3600 we have not even seen a test close to 1.3575, so my short trade at 1.3599 was poor.\r\n\r\nIn addition, I have exited the AUD and NZD trades to remove risk. The RT130 USD/CHF limit order trade that has yet to trigger I have cancelled as well.\r\n\r\nNothing else on my mind at the moment. I am waiting to hear what Yellen says.\r\n\r\nDo not forget later today we have NZD (CPi) and China (GDP) news to work with.\r\n\r\nTake care...do not get suckered today. I just cannot see Yellen doing a \"CARNEY\" but you never know.\r\n\r\nScott','#68 - THE DAILY FX POST, Tuesday 15th July 2014','','inherit','open','closed','','4085-revision-v1','','','2014-07-15 07:08:09','2014-07-15 12:08:09','',4085,'https://weeklyfxdrivethru.com/4085-revision-v1/',0,'revision','',0),(4089,1,'2014-07-16 07:26:56','2014-07-16 12:26:56','Good Day,\r\n\r\nSome movement yesterday and overnight for me with NZD and CNY news.\r\n\r\nI was surprised by the response the markets had to Janet Yellen\'s testimony yesterday, quite frankly, when I heard on CNBC that traders may have found her explanations on when rate increases may occur confusing, I thought that this was a sad indictment of U.S. education. For me, I thought it was clear and unambiguous. It would appear that the U.S. equity traders would like the FED to say that on a specific date at a specific time they will no matter what raise rates by how much!! This is very concerning. and something to keep in mind.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span>\r\n\r\nThe big news yesterday was the EUR/USD finally broke below 1.3575 that had held us up for a couple of weeks or so. We are now on our way to 1.3500. If this level gives way, we are probably on a move much lower as this level breaking would be very bearish event.\r\n\r\nIf you are not yet short, if we get a pullback to 1.3575 this would be a great entry level in my opinion. We may never get there but that is the area to short at should we bounce.\r\n\r\nOn the EUR/USD Daily chart below here are the points that I have been building for the past two / three days:\r\n<ol>\r\n	<li>Fibonacci 2012 lows to 2014 highs 1.2046 to 1.3998.</li>\r\n	<li>1.3537 (23.6%) retracement is where we sit right now.</li>\r\n	<li>1.3500-10 is great horizontal support.</li>\r\n	<li>I have a flag pattern drawn for a day or so, with a measured move lower to 1.3256, which coincides with the 38% retracement.</li>\r\n	<li>If we break below 1.3500 I would see a larger move than to the 38% retracement.</li>\r\n	<li>50% retracement is 1.3022</li>\r\n	<li>My favoured retracement is the 61.8% level, which is 1.2792.</li>\r\n</ol>\r\nI am currently short as follows: -\r\n\r\nFT160\r\nShort at 1.3570.\r\nLimit 1.3210....this I will review and extend.\r\nStop Loss 1.3650.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURUSD-DAILY-16072014.png\"><img class=\"aligncenter size-large wp-image-4092\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURUSD-DAILY-16072014-1024x504.png\" alt=\"EURUSD DAILY 16072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\nI have been waiting as you know for this trade for weeks. This trade actually prompted my blog title last weekend \"PATIENT TRADERS ARE REWARDED FOR WAITING\".\r\n\r\nMy fundamental views will be technically lined up on the break below 1.3500.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NZD/USD:</strong></span>\r\n\r\nFinally....finally...finally we get a break lower.\r\n\r\nFundamental factors on my mind are: -\r\n<ol>\r\n	<li>Milk prices and Dairy product prices in general are falling.</li>\r\n	<li>China Growth (GDP) last night was pretty much in line last night at 7.5%...but remember three / four years ago China GDP at this level would have been viewed at the world\'s end.</li>\r\n	<li>New Zealand largest trading partner is China. In line or not GDP has been marked down over and over again.</li>\r\n	<li>RBNZ governor Wheeler rate hike next week?</li>\r\n</ol>\r\nIn my opinion, I do not think we can get carried away with being over exposed short this pair yet. But if there is no rate hike next week and articles I have read are pointing this way we could see an accelerated fall in the NZD/USD, with knock-on effects through the cross-currencies.\r\n\r\nIf you are not yet short a think that a pullback to 0.8750 may be a great place to enter short.\r\n\r\nOn the chart below I have merely highlighted the longer-term trend lines and the key Fibonacci levels.\r\n\r\nThere is potential for a larger move lower,  but I think we need to see the RBNZ meeting next week out of the way.\r\n\r\nI will be adding to the Daily chart below over the next few days and update with my thoughts as they develop.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/NZDUSD-DAILY-16072014.png\"><img class=\"aligncenter size-large wp-image-4087\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/NZDUSD-DAILY-16072014-1024x504.png\" alt=\"NZDUSD DAILY 16072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\nI am looking at trades involving the USD/CAD, but want to see today\'s BOC rate decision / statement and Press Conference over first.\r\n\r\nThere are several other trades on my RADAR and I will tweet these if they develop.\r\n\r\nTake care today and do not get suckered into establishing large positions....being nimble is the approach and only add when trades are established.\r\n\r\nScott','#69 - THE DAILY FX POST, Wednesday 16th July 2014','','publish','open','closed','','69-daily-fx-post-wednesday-16th-july-2014','','','2014-07-16 07:26:56','2014-07-16 12:26:56','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4089',0,'member_posts','',0),(4090,1,'2014-07-16 06:32:15','2014-07-16 11:32:15','Good Day,\r\n\r\nSome movement yesterday and overnight for me with NZD and CNY news.\r\n\r\nI was surprised by the response the markets had to Janet Yellen\'s testimony yesterday, quite frankly, when I heard on CNBC that traders may have found her explanations on when rate increases may occur confusing, I thought that this was a sad indictment of U.S. education. For me, I thought it was clear and unambiguous. It would appear that the U.S. equity traders would like the FED to say that on a specific date at a specific time they will no matter what raise rates','#69 - THE DAILY FX POST, Wednesday 16th July 2014','','inherit','open','closed','','4089-revision-v1','','','2014-07-16 06:32:15','2014-07-16 11:32:15','',4089,'https://weeklyfxdrivethru.com/4089-revision-v1/',0,'revision','',0),(4091,1,'2014-07-16 06:44:33','2014-07-16 11:44:33','Good Day,\r\n\r\nSome movement yesterday and overnight for me with NZD and CNY news.\r\n\r\nI was surprised by the response the markets had to Janet Yellen\'s testimony yesterday, quite frankly, when I heard on CNBC that traders may have found her explanations on when rate increases may occur confusing, I thought that this was a sad indictment of U.S. education. For me, I thought it was clear and unambiguous. It would appear that the U.S. equity traders would like the FED to say that on a specific date at a specific time they will no matter what raise rates by how much!! This is very concerning. and something to keep in mind.\r\n\r\nEUR/USD:\r\n\r\nThe big news yesterday was the EUR/USD finally broke below 1.3575 that had held us up for a couple of weeks or so. We are now on our way to 1.3500. If this level gives way, we are probably on a move much lower as this level breaking would be very bearish event.\r\n\r\nIf you are not yet short, if we get a pullback to 1.3575 this would be a great entry level in my opinion. We may never get there but that is the area to short at should we bounce.','#69 - THE DAILY FX POST, Wednesday 16th July 2014','','inherit','open','closed','','4089-revision-v1','','','2014-07-16 06:44:33','2014-07-16 11:44:33','',4089,'https://weeklyfxdrivethru.com/4089-revision-v1/',0,'revision','',0),(4093,1,'2014-07-16 07:26:56','2014-07-16 12:26:56','Good Day,\r\n\r\nSome movement yesterday and overnight for me with NZD and CNY news.\r\n\r\nI was surprised by the response the markets had to Janet Yellen\'s testimony yesterday, quite frankly, when I heard on CNBC that traders may have found her explanations on when rate increases may occur confusing, I thought that this was a sad indictment of U.S. education. For me, I thought it was clear and unambiguous. It would appear that the U.S. equity traders would like the FED to say that on a specific date at a specific time they will no matter what raise rates by how much!! This is very concerning. and something to keep in mind.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span>\r\n\r\nThe big news yesterday was the EUR/USD finally broke below 1.3575 that had held us up for a couple of weeks or so. We are now on our way to 1.3500. If this level gives way, we are probably on a move much lower as this level breaking would be very bearish event.\r\n\r\nIf you are not yet short, if we get a pullback to 1.3575 this would be a great entry level in my opinion. We may never get there but that is the area to short at should we bounce.\r\n\r\nOn the EUR/USD Daily chart below here are the points that I have been building for the past two / three days:\r\n<ol>\r\n	<li>Fibonacci 2012 lows to 2014 highs 1.2046 to 1.3998.</li>\r\n	<li>1.3537 (23.6%) retracement is where we sit right now.</li>\r\n	<li>1.3500-10 is great horizontal support.</li>\r\n	<li>I have a flag pattern drawn for a day or so, with a measured move lower to 1.3256, which coincides with the 38% retracement.</li>\r\n	<li>If we break below 1.3500 I would see a larger move than to the 38% retracement.</li>\r\n	<li>50% retracement is 1.3022</li>\r\n	<li>My favoured retracement is the 61.8% level, which is 1.2792.</li>\r\n</ol>\r\nI am currently short as follows: -\r\n\r\nFT160\r\nShort at 1.3570.\r\nLimit 1.3210....this I will review and extend.\r\nStop Loss 1.3650.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURUSD-DAILY-16072014.png\"><img class=\"aligncenter size-large wp-image-4092\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURUSD-DAILY-16072014-1024x504.png\" alt=\"EURUSD DAILY 16072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\nI have been waiting as you know for this trade for weeks. This trade actually prompted my blog title last weekend \"PATIENT TRADERS ARE REWARDED FOR WAITING\".\r\n\r\nMy fundamental views will be technically lined up on the break below 1.3500.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NZD/USD:</strong></span>\r\n\r\nFinally....finally...finally we get a break lower.\r\n\r\nFundamental factors on my mind are: -\r\n<ol>\r\n	<li>Milk prices and Dairy product prices in general are falling.</li>\r\n	<li>China Growth (GDP) last night was pretty much in line last night at 7.5%...but remember three / four years ago China GDP at this level would have been viewed at the world\'s end.</li>\r\n	<li>New Zealand largest trading partner is China. In line or not GDP has been marked down over and over again.</li>\r\n	<li>RBNZ governor Wheeler rate hike next week?</li>\r\n</ol>\r\nIn my opinion, I do not think we can get carried away with being over exposed short this pair yet. But if there is no rate hike next week and articles I have read are pointing this way we could see an accelerated fall in the NZD/USD, with knock-on effects through the cross-currencies.\r\n\r\nIf you are not yet short a think that a pullback to 0.8750 may be a great place to enter short.\r\n\r\nOn the chart below I have merely highlighted the longer-term trend lines and the key Fibonacci levels.\r\n\r\nThere is potential for a larger move lower,  but I think we need to see the RBNZ meeting next week out of the way.\r\n\r\nI will be adding to the Daily chart below over the next few days and update with my thoughts as they develop.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/NZDUSD-DAILY-16072014.png\"><img class=\"aligncenter size-large wp-image-4087\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/NZDUSD-DAILY-16072014-1024x504.png\" alt=\"NZDUSD DAILY 16072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\nI am looking at trades involving the USD/CAD, but want to see today\'s BOC rate decision / statement and Press Conference over first.\r\n\r\nThere are several other trades on my RADAR and I will tweet these if they develop.\r\n\r\nTake care today and do not get suckered into establishing large positions....being nimble is the approach and only add when trades are established.\r\n\r\nScott','#69 - THE DAILY FX POST, Wednesday 16th July 2014','','inherit','open','closed','','4089-revision-v1','','','2014-07-16 07:26:56','2014-07-16 12:26:56','',4089,'https://weeklyfxdrivethru.com/4089-revision-v1/',0,'revision','',0),(4137,1,'2014-07-25 07:35:10','2014-07-25 12:35:10','Good Day,\r\n\r\nThe USD is on the cusp of a breakout at the moment, or, a rejection at 81.02 which is resistance on the USD index.\r\n\r\nIt is a Friday...so do not get too carried away with matters. We have seen some continuation moves this week, with the EUR/USD continuing its move lower and the cable being dragged along for the ride. The NZD/USD after a rate hike has pulled back and looks like it is going to drop lower at least to 0.8500.  Given the EUR move, the pressure should be on the USD index to break higher. My only reservation is the slow bring higher in U.S. equities and I see the 2,000 number as a target for the S&amp;P. Maybe, we have to break this before we stop moving higher....who knows?\r\n\r\nHowever, there is nothing written in tablets of stone to say that the USD Index cannot break higher and equities move up at the same time.\r\n\r\nLooking at the currencies. If you are not yet long the USD/CAD it is now above 1.0750 and looks like it wants to flex its muscles higher.\r\n\r\nI am looking at the USD/CHF to get long 0.9035 is now being taken and I am considering entering long.\r\n\r\nAs I mentioned earlier I have added to my NZD/USD short and below 1.3420 I will add again to my EUR/USD short.\r\n\r\nJust to confirm, tomorrow will be the last \"DRIVE THRU\" blog until September 6th, but I am around next week and will be tweeting and doing the DAILY FX POSTS.\r\n\r\nGood Luck,\r\n\r\nScott','#75 - THE DAILY FX POST, Friday 25th July 2014','','publish','open','closed','','75-daily-fx-post-friday-25th-july-2014','','','2014-07-25 07:35:10','2014-07-25 12:35:10','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4137',0,'member_posts','',0),(4101,1,'2014-07-17 07:38:07','2014-07-17 12:38:07','Good Day,\r\n\r\nI have witnessed a little volatility in S&amp;P futures earlier but it bounced back. A bit of news on the books today that can influence matters, so we need to be conscious of this when / if placing trades.\r\n\r\nBelow I have taken a quick look at the commodity cross-rates for potential set-ups. There are a couple that have caught my eye and I will tweet the set-ups if I decided to take them. You may have different RISK PARAMETERS than me and they may already be live trades for you already. Good luck should that be the case.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/AUD:</strong></span>\r\n\r\nNot my type of trade set-up yet but may be we are bottoming now. Personally, I want to see RISK OFF before trading this pair.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4094\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014-1024x504.png\" alt=\"EURAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/CAD:</strong></span>\r\n\r\nThis pair interests me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4095\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014-1024x504.png\" alt=\"EURCAD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/NZD:</strong></span>\r\n\r\nI am not yet into this pair as abrade. But if you want to take on a little risk maybe long at 1.5500 with stops below 1.5400?\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014.png\"><img class=\"aligncenter size-large wp-image-4096\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014-1024x504.png\" alt=\"EURNZD WEEKLY 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/AUD:</strong></span>\r\n\r\nLong at 1.8200 or 1.8170  looks good to me.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4097\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014-1024x504.png\" alt=\"GBPAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/CAD:</strong></span>\r\n\r\nI am 100% on this trade yet, but 1.8300 is the support area to go long. A great deal to me with all GBP cross-rates is to see the cable aim for 1.7200 again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014.png\"><img class=\"aligncenter size-large wp-image-4098\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014-1024x504.png\" alt=\"GBPCAD 240M 17-72014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/NZD:</strong></span>\r\n\r\nI am currently long this pair. If you are not yet long, an entry at 1.9650 could offer a great entry point. Remember, this pair moves swiftly. This week so far over 500 pips. It has monthly ATR of around 800 pips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4099\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014-1024x504.png\" alt=\"GBPNZD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs requested by Svetlana  earlier today below i list bout the current positions with the LIVE TRADES in play at the moment.\r\n\r\nRT110\r\nAUD/NZD\r\nLong at 1.0824\r\nStop at 1.0617\r\nLimit at 1.1350\r\nPRESENT POSITION 1.0789  = -35pips\r\n\r\nRT118\r\nNZD/USD\r\nShort from 0.8670\r\nStop Loss at 0.8925\r\nLimit 0.8000\r\nPRESENT POSITION 0.8689 = -19pips\r\n\r\nFT160\r\nEUR/USD\r\nShort at 1.3570\r\nStop at 1.3650\r\nLimit 1.3210\r\nPRESENT POSITION 1.3527 = +43pips\r\n\r\nFT161\r\nEUR/GBP\r\nShort at 0.7914\r\nStop at 0.7950\r\nLimit 0.7600\r\nPRESENT POSITION 0.7910 = +4pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong at 1.0775\r\nStop at 1.0700\r\nLimit 1.0875\r\nPRESENT POSITION 1.0746 = -29pips\r\n\r\nFUN14\r\nGBP/NZD\r\nLong at 1.9800\r\nStop at 1.9000\r\nLimit 2.2350\r\nPRESENT POSITION 1.9677 = -123pips\r\n\r\n&nbsp;\r\n\r\nI hope this data today is of use.\r\n\r\nIf I set up trades I will tweet them out...\r\n\r\nTake care trading today there is key data on the table today in the North American session....\r\n\r\nScott.\r\n\r\n&nbsp;','#70 - THE DAILY FX POST, Thursday 17th July 2014','','publish','open','closed','','70-daily-fx-post-thursday-17th-july-2014','','','2014-07-17 07:38:07','2014-07-17 12:38:07','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4101',0,'member_posts','',0),(4102,1,'2014-07-17 07:36:43','2014-07-17 12:36:43','Good Day,\r\n\r\nI have witnessed a little volatility in S&amp;P futures earlier but it bounced back. A bit of news on the books today that can influence matters, so we need to be conscious of this when / if placing trades.\r\n\r\nBelow I have taken a quick look at the commodity cross-rates for potential set-ups. There are a couple that have caught my eye and I will tweet the set-ups if I decided to take them. You may have different RISK PARAMETERS than me and they may already be live trades for you already. Good luck should that be the case.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/AUD:</strong></span>\r\n\r\nNot my type of trade set-up yet but may be we are bottoming now. Personally, I want to see RISK OFF before trading this pair.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4094\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014-1024x504.png\" alt=\"EURAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/CAD:</strong></span>\r\n\r\nThis pair interests me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4095\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014-1024x504.png\" alt=\"EURCAD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/NZD:</strong></span>\r\n\r\nI am not yet into this pair as abrade. But if you want to take on a little risk maybe long at 1.5500 with stops below 1.5400?\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014.png\"><img class=\"aligncenter size-large wp-image-4096\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014-1024x504.png\" alt=\"EURNZD WEEKLY 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/AUD:</strong></span>\r\n\r\nLong at 1.8200 or 1.8170  looks good to me.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4097\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014-1024x504.png\" alt=\"GBPAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/CAD:</strong></span>\r\n\r\nI am 100% on this trade yet, but 1.8300 is the support area to go long. A great deal to me with all GBP cross-rates is to see the cable aim for 1.7200 again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014.png\"><img class=\"aligncenter size-large wp-image-4098\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014-1024x504.png\" alt=\"GBPCAD 240M 17-72014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/NZD:</strong></span>\r\n\r\nI am currently long this pair. If you are not yet long, an entry at 1.9650 could offer a great entry point. Remember, this pair moves swiftly. This week so far over 500 pips. It has monthly ATR of around 800 pips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4099\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014-1024x504.png\" alt=\"GBPNZD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs requested by Svetlana  earlier today below i list bout the current positions with the LIVE TRADES in play at the moment.\r\n\r\nRT110\r\nAUD/NZD\r\nLong at 1.0824\r\nStop at 1.0617\r\nLimit at 1.1350\r\nPRESENT POSITION 1.0789  = -35pips\r\n\r\nRT118\r\nNZD/USD\r\nShort from 0.8670\r\nStop Loss at 0.8925\r\nLimit 0.8000\r\nPRESENT POSITION 0.8689 = -19pips\r\n\r\nFT160\r\nEUR/USD\r\nShort at 1.3570\r\nStop at 1.3650\r\nLimit 1.3210\r\nPRESENT POSITION 1.3527 = +43pips\r\n\r\nFT161\r\nEUR/GBP\r\nShort at 0.7914\r\nStop at 0.7950\r\nLimit 0.7600\r\nPRESENT POSITION 0.7910 = +4pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong at 1.0775\r\nStop at 1.0700\r\nLimit 1.0875\r\nPRESENT POSITION 1.0746 = -29pips\r\n\r\nFUN14\r\nGBP/NZD\r\nLong at 1.9800\r\nStop at 1.9000\r\nLimit 2.2350\r\nPRESENT POSITION 1.9677 = -123pips\r\n\r\n&nbsp;\r\n\r\nI hope this data today is of use.\r\n\r\nIf I set up trades I will tweet them out...\r\n\r\nTake care trading today there is lots of data on the table today in the North american session....\r\n\r\nScott.\r\n\r\n&nbsp;','#70 - THE DAILY FX POST, Thursday 17th July 2014','','inherit','open','closed','','4101-revision-v1','','','2014-07-17 07:36:43','2014-07-17 12:36:43','',4101,'https://weeklyfxdrivethru.com/4101-revision-v1/',0,'revision','',0),(4103,1,'2014-07-17 07:38:07','2014-07-17 12:38:07','Good Day,\r\n\r\nI have witnessed a little volatility in S&amp;P futures earlier but it bounced back. A bit of news on the books today that can influence matters, so we need to be conscious of this when / if placing trades.\r\n\r\nBelow I have taken a quick look at the commodity cross-rates for potential set-ups. There are a couple that have caught my eye and I will tweet the set-ups if I decided to take them. You may have different RISK PARAMETERS than me and they may already be live trades for you already. Good luck should that be the case.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/AUD:</strong></span>\r\n\r\nNot my type of trade set-up yet but may be we are bottoming now. Personally, I want to see RISK OFF before trading this pair.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4094\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURAUD-240M-17072014-1024x504.png\" alt=\"EURAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/CAD:</strong></span>\r\n\r\nThis pair interests me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4095\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURCAD-240M-17072014-1024x504.png\" alt=\"EURCAD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/NZD:</strong></span>\r\n\r\nI am not yet into this pair as abrade. But if you want to take on a little risk maybe long at 1.5500 with stops below 1.5400?\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014.png\"><img class=\"aligncenter size-large wp-image-4096\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/EURNZD-WEEKLY-17072014-1024x504.png\" alt=\"EURNZD WEEKLY 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/AUD:</strong></span>\r\n\r\nLong at 1.8200 or 1.8170  looks good to me.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4097\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPAUD-240M-17072014-1024x504.png\" alt=\"GBPAUD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/CAD:</strong></span>\r\n\r\nI am 100% on this trade yet, but 1.8300 is the support area to go long. A great deal to me with all GBP cross-rates is to see the cable aim for 1.7200 again.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014.png\"><img class=\"aligncenter size-large wp-image-4098\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPCAD-240M-17-72014-1024x504.png\" alt=\"GBPCAD 240M 17-72014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/NZD:</strong></span>\r\n\r\nI am currently long this pair. If you are not yet long, an entry at 1.9650 could offer a great entry point. Remember, this pair moves swiftly. This week so far over 500 pips. It has monthly ATR of around 800 pips.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014.png\"><img class=\"aligncenter size-large wp-image-4099\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/GBPNZD-240M-17072014-1024x504.png\" alt=\"GBPNZD 240M 17072014\" width=\"1024\" height=\"504\" /></a>\r\n\r\n&nbsp;\r\n\r\nAs requested by Svetlana  earlier today below i list bout the current positions with the LIVE TRADES in play at the moment.\r\n\r\nRT110\r\nAUD/NZD\r\nLong at 1.0824\r\nStop at 1.0617\r\nLimit at 1.1350\r\nPRESENT POSITION 1.0789  = -35pips\r\n\r\nRT118\r\nNZD/USD\r\nShort from 0.8670\r\nStop Loss at 0.8925\r\nLimit 0.8000\r\nPRESENT POSITION 0.8689 = -19pips\r\n\r\nFT160\r\nEUR/USD\r\nShort at 1.3570\r\nStop at 1.3650\r\nLimit 1.3210\r\nPRESENT POSITION 1.3527 = +43pips\r\n\r\nFT161\r\nEUR/GBP\r\nShort at 0.7914\r\nStop at 0.7950\r\nLimit 0.7600\r\nPRESENT POSITION 0.7910 = +4pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong at 1.0775\r\nStop at 1.0700\r\nLimit 1.0875\r\nPRESENT POSITION 1.0746 = -29pips\r\n\r\nFUN14\r\nGBP/NZD\r\nLong at 1.9800\r\nStop at 1.9000\r\nLimit 2.2350\r\nPRESENT POSITION 1.9677 = -123pips\r\n\r\n&nbsp;\r\n\r\nI hope this data today is of use.\r\n\r\nIf I set up trades I will tweet them out...\r\n\r\nTake care trading today there is key data on the table today in the North American session....\r\n\r\nScott.\r\n\r\n&nbsp;','#70 - THE DAILY FX POST, Thursday 17th July 2014','','inherit','open','closed','','4101-revision-v1','','','2014-07-17 07:38:07','2014-07-17 12:38:07','',4101,'https://weeklyfxdrivethru.com/4101-revision-v1/',0,'revision','',0),(4104,1,'2014-07-18 06:16:40','2014-07-18 11:16:40','Good Day,\r\n\r\nDreadful geopolitical news dominates the markets with most of the bourses negative through Asia and Europe. Not to be-little the Israeli/Gaza situation, but the shooting down of a civilian aircraft that clearly shows a commercial identity beacon, operating in a clear flight path on commercial  flight corridor opens up a can of worms that takes terrorism to new levels way beyond the 9/11 scenario. The ramifications of this leap in terrorist available activity will be with us for some time to come. How commercial jet call-sign identifications and flight-paths are set out moving forward will take several days to shake out.\r\n\r\nFundamentally the strain on the USA / Russian / European relationships will be tested further and China distanced itself from MH17 immediately.\r\n\r\nOvernight the markets shrugged off the news very quickly and we have tight trading ranges in EUR/USD (23 pips), GBP/USD ( 34 pips), USD/CHF (12 pips), AUD/USD ( 54 pips), NZD/USD ( 44 pips) and USD/CAD ( 24 pips).\r\n\r\nLooking ahead to-day, I would imagine anyone long the EUR/USD based off 1.3500, would be buying shares in \"Andrex\" and it would not surprise me if the EUR/USD dropped through 1.35000 as longs exit not wanting to be holding the single-currency through the weekend.\r\n\r\nAUD/USD support at 0.9320 is holding as it NZD/USD 0.8675. The big move overnight is AUD/NZD this pair has recovered a huge amount of pips this week. The overall move was from around 1.0640 to 1.0820 (180 pips).\r\n\r\nI am not looking to exit any LIVE TRADES or cancel any LIMIT ORDERS in place.\r\n\r\nI am not looking to add any fresh positions today given the news and the fact that it is a Friday.\r\n\r\nBe careful today, events could move on a piece today and affect the USD.\r\n\r\nScott','#71 - THE DAILY FX POST, Friday 18th July 2014','','publish','open','closed','','71-daily-fx-post-friday-18th-july-2014','','','2014-07-18 06:16:40','2014-07-18 11:16:40','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4104',0,'member_posts','',0),(4105,1,'2014-07-18 06:13:52','2014-07-18 11:13:52','Good Day,\r\n\r\nDreadful geopolitical news dominates the markets with most of the bourses negative through Asia and Europe. Not to be-little the Israeli/Gaza situation, but the shooting down of a civilian aircraft that clearly shows a commercial identity beacon, operating in a clear flight path on commercial  flight corridor opens up a can of worms that takes terrorism to new levels way beyond the 9/11 scenario. The ramifications of this leap in terrorist available activity will be with us for some time to come. How commercial jet call-sign identifications and flight-paths are set out moving forward will take several days to shake out.\r\n\r\nFundamentally the strain on the USA / Russian / European relationships will be tested further and China distanced itself from MH17 immediately.\r\n\r\nOvernight the markets shrugged off the news very quickly and we have tight trading ranges in EUR/USD (23 pips), GBP/USD ( 34 pips), USD/CHF (12 pips), AUD/USD ( 54 pips), NZD/USD ( 44 pips) and USD/CAD ( 24 pips).\r\n\r\nLooking ahead to-day, I would imagine anyone long the EUR/USD based off 1.3500, would be buying shares in \"Andrex\" and it would not surprise me if the EUR/USD dropped through 1.35000 as longs exit not wanting to be holding the single-currency through the weekend.\r\n\r\nI am not looking to exit any LIVE TRADES or cancel any LIMIT ORDERS in place.\r\n\r\nI am not looking to add any fresh positions today given the news and the fact that it is a Friday.\r\n\r\nBe careful today, events could move on a piece today and affect the USD.\r\n\r\nScott','#71 - THE DAILY FX POST, Friday 18th July 2014','','inherit','open','closed','','4104-revision-v1','','','2014-07-18 06:13:52','2014-07-18 11:13:52','',4104,'https://weeklyfxdrivethru.com/4104-revision-v1/',0,'revision','',0),(4106,1,'2014-07-18 06:16:40','2014-07-18 11:16:40','Good Day,\r\n\r\nDreadful geopolitical news dominates the markets with most of the bourses negative through Asia and Europe. Not to be-little the Israeli/Gaza situation, but the shooting down of a civilian aircraft that clearly shows a commercial identity beacon, operating in a clear flight path on commercial  flight corridor opens up a can of worms that takes terrorism to new levels way beyond the 9/11 scenario. The ramifications of this leap in terrorist available activity will be with us for some time to come. How commercial jet call-sign identifications and flight-paths are set out moving forward will take several days to shake out.\r\n\r\nFundamentally the strain on the USA / Russian / European relationships will be tested further and China distanced itself from MH17 immediately.\r\n\r\nOvernight the markets shrugged off the news very quickly and we have tight trading ranges in EUR/USD (23 pips), GBP/USD ( 34 pips), USD/CHF (12 pips), AUD/USD ( 54 pips), NZD/USD ( 44 pips) and USD/CAD ( 24 pips).\r\n\r\nLooking ahead to-day, I would imagine anyone long the EUR/USD based off 1.3500, would be buying shares in \"Andrex\" and it would not surprise me if the EUR/USD dropped through 1.35000 as longs exit not wanting to be holding the single-currency through the weekend.\r\n\r\nAUD/USD support at 0.9320 is holding as it NZD/USD 0.8675. The big move overnight is AUD/NZD this pair has recovered a huge amount of pips this week. The overall move was from around 1.0640 to 1.0820 (180 pips).\r\n\r\nI am not looking to exit any LIVE TRADES or cancel any LIMIT ORDERS in place.\r\n\r\nI am not looking to add any fresh positions today given the news and the fact that it is a Friday.\r\n\r\nBe careful today, events could move on a piece today and affect the USD.\r\n\r\nScott','#71 - THE DAILY FX POST, Friday 18th July 2014','','inherit','open','closed','','4104-revision-v1','','','2014-07-18 06:16:40','2014-07-18 11:16:40','',4104,'https://weeklyfxdrivethru.com/4104-revision-v1/',0,'revision','',0),(4118,1,'2014-07-19 10:32:41','2014-07-19 15:32:41','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nFrom a trading perspective this week, we continued to work within very tight ranges in the Forex market although there was more volatility than in previous weeks.\r\n\r\nHowever, geopolitical news events over shadowed the markets with a B777 commercial jet operated by Malaysian Airlines shot down by a missile over the Ukraine, the Israeli army moving into Gaza, militants attacking Kabul airport in Afghanistan and Isis militants in Iraq continuing to fight Iraqi forces to control more land mass.\r\n\r\nThere is a lot of trouble hanging over the markets like the “Sword of Damocles”.\r\n\r\nWhen Economic data is released in the U.S. whether it is good news or bad news – the reaction from the equity markets is that they rise regardless. I believe this happens based on the fact that traders believe that the FED will always be a backstop. To some extent, I expect the FED to support equities should geopolitical news place U.S. equities under pressure. However, given the fact that Quantitative Easing, in my opinion, did NOT achieve all its goals and now the FED has moved monetary policy to tightening away from easing, I am NOT so sure that they would be as anxious to step in as quickly given the fact geopolitical news should be sorted in the first instance by politicians. (My God, there’s subject matter for a few blogs in that last sentence alone!!)\r\n\r\nThe Kiwi finally started a move lower on the back of weaker dairy prices and a CPi data miss. It will be interesting to see what happens this week at the RBNZ meeting and Glenn Wheeler’s statement. The markets were expecting a further 0.25% increase in interest rates but weakening dairy prices, recent economic data misses and the China slowdown uncertainty may delay this move. If that should happen, we could see the NZD/USD target 0.8500 very quickly. If he does increase rates we should move higher once again but I am NOT so certain that a test of the 52-week highs of 0.8842 will be on the cards. However, as James Bond once said…”Never Say Never!!”\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nIn between all the news, I have been working away on a presentation to take the PREMIUM SERVICE on the road later this year in Montreal, and, I have set my objectives to be included in my TRADING PLAN for 2015.\r\n\r\nWith regards to the PREMIUM SERVICE the income from single-lot trades continues to grow each week. This gives me in my opinion, a very good compelling argument to approach new and part-time traders with a great affordable working Forex trading options.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by adding and reducing trades as moves develop has really paid off on two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\nI have added to my list of broker relationships FXCM. I have obtained some great special reduced rate spreads for PREMIUM SERVICE subscribers. If you want to take advantage of these you need to contact me direct by email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a> so that I can manually provide you with a link to obtain better rate spreads.\r\n\r\nAs a Forex trader of 7 years, I have had several relationships with Forex Brokers. I have tested many and removed many for various reasons from my portfolio.\r\n\r\nI now have two that I am very happy to call my preferred brokers for my readers of both blogs, they are: FXCM and BLACKWELL GLOBAL. They both offer different approaches and depending upon the type of trader and experience you have, they provide service options that fits what I have been looking for to offer PREMIUM SERVICE subscribers and readers of the WEEKLY FX DRIVE THRU.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\"><img class=\"aligncenter size-full wp-image-4112\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\" alt=\"PREM SERV PROFITS1 19072014\" width=\"450\" height=\"419\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\"><img class=\"aligncenter size-full wp-image-4113\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\" alt=\"PREM SERV PROFITS2 19072014\" width=\"463\" height=\"423\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong><strong> </strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 1\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW DO I CHOOSE A FX BROKER?</strong><strong> </strong><strong>\r\n</strong></p>\r\n<strong>INTRODUCTION:</strong>\r\n\r\nFor quite sometime I have been working on a piece for this blog on brokers. As most of my regular readers will know, I have been trading Forex for over 7 years, in fact, my LINKEDIN accounts sent out hundreds of 7 year anniversary messages a few weeks ago and my inbox has been bombarded ever since…hence I know that 7 years is a pretty accurate timeline to write.\r\n\r\nFor me, trading Forex is like anything else in business. I look at my Forex accounts with my brokers as business partnerships. I pay for a service they charge me competitively for that service (some more competitive than others!!) and fulfill what I want, which is hopefully to make $$$.\r\n\r\nThe reason that this article has been delayed is quite simply due to the following reasons.\r\n<ol>\r\n	<li>When I decided to launch the PREMIUM SERVICE, I did so knowing that I wanted subscribers to be able to go to my website click on anything that is loaded on to my pages, knowing that I have 100% approved the link to a third party.</li>\r\n	<li>Prior to the PREMIUM SERVICE, I had relationships with four Forex brokers. I still have those relationships today. However, on launching the PREMIUM SERVICE there was a gap in what my prior brokers’ offered based upon my target sector for PREMIUM SERVICE subscribers and I therefore needed to add relationships. The gap by the way was the fact that my prior brokers only offered trades with Mini or Standard lots.</li>\r\n	<li>So in order to facilitate a full range of trading options I added four additional brokers; IRON FX, SENSUS-CAPITAL MARKETS, BLACKWELL GLOBAL and FXCM (This company was held in the background as changes were made throughout 2014 to my broker relationships for PREMIUM SERVICE subscribers).</li>\r\n	<li>If you look at my website today, only BLACKWELL GLOBAL and FXCM remain from the original new brokers. I will explain why they are the only ones left and why the others were removed as this article progresses.</li>\r\n</ol>\r\n<strong>\r\nCHOOSING AN FX BROKER - IS IT REALLY A MINEFIELD?</strong><strong> </strong>\r\n\r\nShort answer…. yes it can be!\r\n\r\nTo be perfectly honest, personally, I find choosing a broker to partner with, painful at times. At the outset, the salesperson that you speak to is over you like a rash. You know that the promises made to you about everything being just brilliant when you hand over your $$$ is just sales talk that you have to accept in many cases, there are always exceptions but I believe the 80/20 rule applies here. Unfortunately 80% are bad and only 20% are good. This is a very sad reflection upon the Forex Industry. It is a case of buyer beware.\r\n\r\nThe selling process and the promises made about customer service and reliability of the software used in so many occasions just makes it impossible for such customer service standards to ever to be achieved.\r\n\r\nWhat do I look for in my broker relationships?\r\n<ul>\r\n	<li>Software that does not crash, it has to be reliable.</li>\r\n	<li>Good customer service after depositing $$$ irrespective of the size of the balance maintained in the account.</li>\r\n	<li>Fast and effective execution speeds.</li>\r\n	<li>Competitive rate spreads / commissions.</li>\r\n	<li>No hidden fees.</li>\r\n	<li>Easy to use charts.</li>\r\n	<li>Simple management of the software.</li>\r\n	<li>No slippage.</li>\r\n</ul>\r\nI promised a few weeks back that I would go through why certain brokers have been eliminated from the PREMIUM SERVICE. These are just my experiences, you may enjoy a great relationship with brokers that I no longer want to trade with, and, this can happen. In my “inner circle” of trading buddies, we all have had different experiences and there are certain brokers none of us will go near, but we also have mixed opinions. The “I told you so” conversation does happen from time to time. I believe that your Account Manager is paramount and integral to the overall experience.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\"><img class=\"aligncenter size-full wp-image-4116\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\" alt=\"FX BROKER SERVICE COMPARISONS 19072014\" width=\"458\" height=\"491\" /></a>\r\n\r\nFrom the references inside the above spreadsheet: -\r\n\r\n(1) – Excellent Account Manager, his reputation meant everything to him. Obviously, he felt that he could no longer back up his promises with the support from the company.\r\n\r\n(2) – Very attentive Account Manager in the beginning but the relationship suffered when funds were removed from my account without any communication, allegedly because of a regulatory requirement? Subsequently I have had this verified to an extent, but NOT ONE JOT of why no communications were made. My Account Manager left the company two weeks after this incident.\r\n\r\n(3) – Absolutely hopeless, I was passed from one person to another so many times and I cannot remember how many times the chat line was dropped during this process. It was so frustrating and very time consuming; in fact it was a complete waste of time. This is a totally useless facility for this company, and it must frustrate traders with questions.\r\n\r\n(4) – A dreadful experience. Originally, the IT / Corporate Governance department blamed my Internet connection. No one apparently had ever complained of slippage before…..yeah right! I had it on at least three occasions; I pursued my case through my Account Manager to Corporate Governance for a second time, with more specifics about the third big slippage incident. I was refunded in full, but to force this issue meant the relationship was over. In fairness they were very good on closing my account and transferring monies back to my bank.\r\n\r\n(5) – This was incredible. I could not gain access to areas I was told that I could, and basically for brevity, I was advised that internally my account was set up incorrectly, not in line with what I was originally advised…. basically tough s**t. That was it for me, the final straw they had let me down twice….\r\n\r\nSo to answer the heading of this section and re-emphasize the point; yes, it can be a minefield.\r\n\r\nI have broker relationships with FX PRO, SAXO and ALPARI in addition to FXCM and BLACKWELL GLOBAL through the WEEKLY FX DRIVE THRU and the PREMIUM SERVICE. Both of these brokers provide 100% of what I need to be totally confident with on any client introduction I should be involved with. I have special introductory incentives for subscribers to the PREMIUM SERVICE, but, readers of the FREE WEEKLY FX DRIVE THRU can also benefit as well.\r\n\r\nChoosing a broker is NOT easy. It takes time to build a relationship and it also takes time to adjust to the little quirks that each broker has that differentiates them from each other. I often say in trading, waiting for the trade to come to you is a critical part of trading. Patience is a virtue in trading; it is also a key requirement in broker relationships. There are some great people working in brokers right now, if I could move all these people into a brand new start company, it would be awesome. The problem is that I can’t, and therefore you have to accept the rough with the smooth.\r\n\r\nFor me, one aspect of the relationship that makes matters much easier is consistency. As long as you know where you stand and all the contacts in the brokers you use “sing from the same hymn sheet”, then you have the parameters to work within.\r\n\r\nAdd the broker quirks, and then it allows me to trade certain brokers with certain types / styles of trade. This is crucial for me.\r\n\r\nOne very important aspect to consider when choosing a new or additional broker is to make sure your monies are 100% protected. Your money has to be safe and you need to know that the broker is regulated across several jurisdictions. It sounds crazy but you must look at this, do not take things for granted. Usually, at the foot of the broker’s welcome page you will see a list of where they have financial operations based and the appropriate regulated body to which the brokers’ actions are accountable.\r\n\r\nNext week I will conclude this article with part 2: -\r\n\r\nWHY AND HOW DO I TRADE WITH MULTIPLE FX BROKERS?\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3524\r\nPosition: +46 pips\r\n\r\nFT161\r\nEUR/GBP\r\nShort\r\nEntry: 0.7914\r\nStop Loss: 0.7950\r\nLimit / Target: 0.7600\r\nWeekly Closing Price: 0.7914\r\nPosition: level pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0732\r\nPosition: -43 pips\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT110\r\nAUD/NZD\r\nLong\r\nCost Average: 1.0825\r\nStop Loss: 1.0650\r\nLimit / Target: 1.1350\r\nWeekly Closing Price: 1.0797\r\nPosition: -28 pips\r\n\r\nRT118\r\nNZD/USD\r\nShort\r\nCost Average: 0.8670\r\nStop Loss: 0.8860\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8682\r\nPosition: -12 pips\r\n\r\nRT134\r\nGBP/CHF\r\nLong\r\nCost Average: 1.5350\r\nStop Loss: 1.5270\r\nLimit: 1.5480\r\nWeekly Closing Price: 1.5314\r\nPosition: -36 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong (This trade is hedged from -100 pips)\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9587\r\nPosition: -213 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4515\r\nPosition: +15 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8180\r\nPosition: -20 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8332\r\nPosition: +32 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI only have one trade on my radar. Given the geopolitical news I am not looking to add positions until I have seen the news over the weekend.\r\n\r\nThe trade in question is a FUNDAMENTAL trade, which is a longer-term trade, which I will hedge if I have to.\r\n\r\nFUN35\r\nEUR/NZD\r\nLong\r\nEntry: 1.5500\r\nStop: 1.5000\r\nLimit: 1.6550\r\n\r\n<strong> </strong>\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> A very frustrating pair to trade this past week. We finally broke through 1.3600 and took out 1.3500 on Friday only to peek back above 1.3500 to end the week. The great thing from my perspective is being short this pair is that there is now real bounce, and, it looks like the bear flag formation measured move that I have referred to over the past week is in play 1.3250 or just a shade below. If you are not yet short this pair obviously a move to 1.3575 offers great resistance and would be seen as a great area that was previous support to short from. The range is 1.3490 to 1.3575.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Not much of a move in the week based upon closing levels. Looking just on closing price one would have to say that consolidation is in play. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7035 to 1.7150.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. Virtually unchanged in the past week. The big news that I see with this pair is the cross-rate effect that has elevated the AUD/NZD in particular about 180 pips in the week. This cross-rate move has kept the AUD/USD well bid. It is however in a tight trading range of 0.9320 to 0.9430.<strong> </strong>\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. Finally…. finally…. finally we have seen a downside move but on Friday it held up quite well. The RBNZ interest rate decision this coming Wednesday will really place governor Graeme Wheeler on the hot spot. Economic data of late has been weaker and a rate increase that the market was expecting may backfire, on the other hand, a rate cut could do what the RBNZ has wanted all along this is a weaker Kiwi currency. A non-event on Wednesday could send this pair to 0.8500 very quickly. The trading range that I have in my sights for now though is 0.8640 to 0.8750.\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> Only a one pip move in the week. I think that huge trend line support above 1.0650 is keeping the “Loonie” well bid. I am long although out of the money thanks to strong economic data on Friday but I am happy to hold my position moving forward. The range is 1.0700 to 1.0790.\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. I missed my opportunity to keep my previous long trade in play. This is the pair that I will be looking to enter long next week should the EUR/USD fall below 1.3500 once again. For now the range that interests me is 0.8950 to 0.9040.\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>We have tested just above 101.00 this week and personally I once again see this pair sub 100.00 before the JPY weakens across the board. This is just my opinion and it does not mean that I will be correct. This year I have got all my JPY predictions wrong…so maybe I am in line for a correct one this time? The range that I am paying attention to is 101.00 to 101.50.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nAUD/USD\r\nUSD/SEK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nUSD/CAD\r\nUSD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\nEUR/CAD\r\nGBP/CAD\r\nEUR/AUD\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Glenn Stevens RBA speaks.\r\n\r\nTUESDAY: USD – Core CPi.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales.\r\nWEDNESDAY: NZD – Cash Rate, RBNZ Rate Statement and Trade Balance.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Business Confidence.\r\n\r\nFRIDAY: EUR – German IFO Business Climate.\r\nFRIDAY: GBP – GDP.\r\n\r\n<strong> </strong>\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nComing up this week the big news item that is on my radar is the RBNZ interest rate decision on Wednesday. There are PMi releases in Europe and China but the RBNZ is the pick in my opinion.\r\n\r\nWhilst we have entered the summer doldrums regarding liquidity we have huge geopolitical news hanging over the markets and this creates uncertainty and we all know that the markets do not like uncertainty.\r\n\r\nWe have to be very careful trading as the opportunity for massive volatility to run through the markets is high given the thinner cash flows through the Forex market. As I have written the last two weeks, we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 19th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 1) - HOW DO I CHOOSE AN FX BROKER?','','inherit','open','closed','','4117-revision-v1','','','2014-07-19 10:32:41','2014-07-19 15:32:41','',4117,'https://weeklyfxdrivethru.com/4117-revision-v1/',0,'revision','',0),(4119,1,'2014-07-19 10:42:22','2014-07-19 15:42:22','','FX BROKERS -PART 1','','inherit','open','closed','','fx-brokers-part-1','','','2014-07-19 10:42:22','2014-07-19 15:42:22','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf',0,'attachment','application/pdf',0),(4120,1,'2014-07-19 10:52:46','2014-07-19 15:52:46','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nFrom a trading perspective this week, we continued to work within very tight ranges in the Forex market although there was more volatility than in previous weeks.\r\n\r\nHowever, geopolitical news events over shadowed the markets with a B777 commercial jet operated by Malaysian Airlines shot down by a missile over the Ukraine, the Israeli army moving into Gaza, militants attacking Kabul airport in Afghanistan and Isis militants in Iraq continuing to fight Iraqi forces to control more land mass.\r\n\r\nThere is a lot of trouble hanging over the markets like the “Sword of Damocles”.\r\n\r\nWhen Economic data is released in the U.S. whether it is good news or bad news – the reaction from the equity markets is that they rise regardless. I believe this happens based on the fact that traders believe that the FED will always be a backstop. To some extent, I expect the FED to support equities should geopolitical news place U.S. equities under pressure. However, given the fact that Quantitative Easing, in my opinion, did NOT achieve all its goals and now the FED has moved monetary policy to tightening away from easing, I am NOT so sure that they would be as anxious to step in as quickly given the fact geopolitical news should be sorted in the first instance by politicians. (My God, there’s subject matter for a few blogs in that last sentence alone!!)\r\n\r\nThe Kiwi finally started a move lower on the back of weaker dairy prices and a CPi data miss. It will be interesting to see what happens this week at the RBNZ meeting and Glenn Wheeler’s statement. The markets were expecting a further 0.25% increase in interest rates but weakening dairy prices, recent economic data misses and the China slowdown uncertainty may delay this move. If that should happen, we could see the NZD/USD target 0.8500 very quickly. If he does increase rates we should move higher once again but I am NOT so certain that a test of the 52-week highs of 0.8842 will be on the cards. However, as James Bond once said…”Never Say Never!!”\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nIn between all the news, I have been working away on a presentation to take the PREMIUM SERVICE on the road later this year in Montreal, and, I have set my objectives to be included in my TRADING PLAN for 2015.\r\n\r\nWith regards to the PREMIUM SERVICE the income from single-lot trades continues to grow each week. This gives me in my opinion, a very good compelling argument to approach new and part-time traders with a great affordable working Forex trading options.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by adding and reducing trades as moves develop has really paid off on two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\nI have added to my list of broker relationships FXCM. I have obtained some great special reduced rate spreads for PREMIUM SERVICE subscribers. If you want to take advantage of these you need to contact me direct by email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a> so that I can manually provide you with a link to obtain better rate spreads.\r\n\r\nAs a Forex trader of 7 years, I have had several relationships with Forex Brokers. I have tested many and removed many for various reasons from my portfolio.\r\n\r\nI now have two that I am very happy to call my preferred brokers for my readers of both blogs, they are: FXCM and BLACKWELL GLOBAL. They both offer different approaches and depending upon the type of trader and experience you have, they provide service options that fits what I have been looking for to offer PREMIUM SERVICE subscribers and readers of the WEEKLY FX DRIVE THRU.\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\"><img class=\"aligncenter size-full wp-image-4112\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\" alt=\"PREM SERV PROFITS1 19072014\" width=\"450\" height=\"419\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\"><img class=\"aligncenter size-full wp-image-4113\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\" alt=\"PREM SERV PROFITS2 19072014\" width=\"463\" height=\"423\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>4. THE VIEW FROM MY TRADING DESK:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 1\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW DO I CHOOSE A FX BROKER?\r\n</strong></p>\r\n<strong>INTRODUCTION:</strong>\r\n\r\nFor quite sometime I have been working on a piece for this blog on brokers. As most of my regular readers will know, I have been trading Forex for over 7 years, in fact, my LINKEDIN accounts sent out hundreds of 7 year anniversary messages a few weeks ago and my inbox has been bombarded ever since…hence I know that 7 years is a pretty accurate timeline to write.\r\n\r\nFor me, trading Forex is like anything else in business. I look at my Forex accounts with my brokers as business partnerships. I pay for a service they charge me competitively for that service (some more competitive than others!!) and fulfill what I want, which is hopefully to make $$$.\r\n\r\nThe reason that this article has been delayed is quite simply due to the following reasons.\r\n<ol>\r\n	<li>When I decided to launch the PREMIUM SERVICE, I did so knowing that I wanted subscribers to be able to go to my website click on anything that is loaded on to my pages, knowing that I have 100% approved the link to a third party.</li>\r\n	<li>Prior to the PREMIUM SERVICE, I had relationships with four Forex brokers. I still have those relationships today. However, on launching the PREMIUM SERVICE there was a gap in what my prior brokers’ offered based upon my target sector for PREMIUM SERVICE subscribers and I therefore needed to add relationships. The gap by the way was the fact that my prior brokers only offered trades with Mini or Standard lots.</li>\r\n	<li>So in order to facilitate a full range of trading options I added four additional brokers; IRON FX, SENSUS-CAPITAL MARKETS, BLACKWELL GLOBAL and FXCM (This company was held in the background as changes were made throughout 2014 to my broker relationships for PREMIUM SERVICE subscribers).</li>\r\n	<li>If you look at my website today, only BLACKWELL GLOBAL and FXCM remain from the original new brokers. I will explain why they are the only ones left and why the others were removed as this article progresses.</li>\r\n</ol>\r\n<strong>CHOOSING AN FX BROKER - IS IT REALLY A MINEFIELD?</strong>\r\n\r\nShort answer…. yes it can be!\r\n\r\nTo be perfectly honest, personally, I find choosing a broker to partner with, painful at times. At the outset, the salesperson that you speak to is over you like a rash. You know that the promises made to you about everything being just brilliant when you hand over your $$$ is just sales talk that you have to accept in many cases, there are always exceptions but I believe the 80/20 rule applies here. Unfortunately 80% are bad and only 20% are good. This is a very sad reflection upon the Forex Industry. It is a case of buyer beware.\r\n\r\nThe selling process and the promises made about customer service and reliability of the software used in so many occasions just makes it impossible for such customer service standards to ever to be achieved.\r\n\r\nWhat do I look for in my broker relationships?\r\n<ul>\r\n	<li>Software that does not crash, it has to be reliable.</li>\r\n	<li>Good customer service after depositing $$$ irrespective of the size of the balance maintained in the account.</li>\r\n	<li>Fast and effective execution speeds.</li>\r\n	<li>Competitive rate spreads / commissions.</li>\r\n	<li>No hidden fees.</li>\r\n	<li>Easy to use charts.</li>\r\n	<li>Simple management of the software.</li>\r\n	<li>No slippage.</li>\r\n</ul>\r\nI promised a few weeks back that I would go through why certain brokers have been eliminated from the PREMIUM SERVICE. These are just my experiences, you may enjoy a great relationship with brokers that I no longer want to trade with, and, this can happen. In my “inner circle” of trading buddies, we all have had different experiences and there are certain brokers none of us will go near, but we also have mixed opinions. The “I told you so” conversation does happen from time to time. I believe that your Account Manager is paramount and integral to the overall experience.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\"><img class=\"aligncenter size-full wp-image-4116\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\" alt=\"FX BROKER SERVICE COMPARISONS 19072014\" width=\"458\" height=\"491\" /></a>\r\n\r\nFrom the references inside the above spreadsheet: -\r\n\r\n(1) – Excellent Account Manager, his reputation meant everything to him. Obviously, he felt that he could no longer back up his promises with the support from the company.\r\n\r\n(2) – Very attentive Account Manager in the beginning but the relationship suffered when funds were removed from my account without any communication, allegedly because of a regulatory requirement? Subsequently I have had this verified to an extent, but NOT ONE JOT of why no communications were made. My Account Manager left the company two weeks after this incident.\r\n\r\n(3) – Absolutely hopeless, I was passed from one person to another so many times and I cannot remember how many times the chat line was dropped during this process. It was so frustrating and very time consuming; in fact it was a complete waste of time. This is a totally useless facility for this company, and it must frustrate traders with questions.\r\n\r\n(4) – A dreadful experience. Originally, the IT / Corporate Governance department blamed my Internet connection. No one apparently had ever complained of slippage before…..yeah right! I had it on at least three occasions; I pursued my case through my Account Manager to Corporate Governance for a second time, with more specifics about the third big slippage incident. I was refunded in full, but to force this issue meant the relationship was over. In fairness they were very good on closing my account and transferring monies back to my bank.\r\n\r\n(5) – This was incredible. I could not gain access to areas I was told that I could, and basically for brevity, I was advised that internally my account was set up incorrectly, not in line with what I was originally advised…. basically tough s**t. That was it for me, the final straw they had let me down twice….\r\n\r\nSo to answer the heading of this section and re-emphasize the point; yes, it can be a minefield.\r\n\r\nI have broker relationships with FX PRO, SAXO and ALPARI in addition to FXCM and BLACKWELL GLOBAL through the WEEKLY FX DRIVE THRU and the PREMIUM SERVICE. Both of these brokers provide 100% of what I need to be totally confident with on any client introduction I should be involved with. I have special introductory incentives for subscribers to the PREMIUM SERVICE, but, readers of the FREE WEEKLY FX DRIVE THRU can also benefit as well.\r\n\r\nChoosing a broker is NOT easy. It takes time to build a relationship and it also takes time to adjust to the little quirks that each broker has that differentiates them from each other. I often say in trading, waiting for the trade to come to you is a critical part of trading. Patience is a virtue in trading; it is also a key requirement in broker relationships. There are some great people working in brokers right now, if I could move all these people into a brand new start company, it would be awesome. The problem is that I can’t, and therefore you have to accept the rough with the smooth.\r\n\r\nFor me, one aspect of the relationship that makes matters much easier is consistency. As long as you know where you stand and all the contacts in the brokers you use “sing from the same hymn sheet”, then you have the parameters to work within.\r\n\r\nAdd the broker quirks, and then it allows me to trade certain brokers with certain types / styles of trade. This is crucial for me.\r\n\r\nOne very important aspect to consider when choosing a new or additional broker is to make sure your monies are 100% protected. Your money has to be safe and you need to know that the broker is regulated across several jurisdictions. It sounds crazy but you must look at this, do not take things for granted. Usually, at the foot of the broker’s welcome page you will see a list of where they have financial operations based and the appropriate regulated body to which the brokers’ actions are accountable.\r\n\r\nNext week I will conclude this article with part 2: -\r\n\r\nWHY AND HOW DO I TRADE WITH MULTIPLE FX BROKERS?<strong> </strong>\r\n\r\n<strong>\r\n5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong><strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> A very frustrating pair to trade this past week. We finally broke through 1.3600 and took out 1.3500 on Friday only to peek back above 1.3500 to end the week. The great thing from my perspective is being short this pair is that there is now real bounce, and, it looks like the bear flag formation measured move that I have referred to over the past week is in play 1.3250 or just a shade below. If you are not yet short this pair obviously a move to 1.3575 offers great resistance and would be seen as a great area that was previous support to short from. The range is 1.3490 to 1.3575.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Not much of a move in the week based upon closing levels. Looking just on closing price one would have to say that consolidation is in play. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7035 to 1.7150.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. Virtually unchanged in the past week. The big news that I see with this pair is the cross-rate effect that has elevated the AUD/NZD in particular about 180 pips in the week. This cross-rate move has kept the AUD/USD well bid. It is however in a tight trading range of 0.9320 to 0.9430.\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. Finally…. finally…. finally we have seen a downside move but on Friday it held up quite well. The RBNZ interest rate decision this coming Wednesday will really place governor Graeme Wheeler on the hot spot. Economic data of late has been weaker and a rate increase that the market was expecting may backfire, on the other hand, a rate cut could do what the RBNZ has wanted all along this is a weaker Kiwi currency. A non-event on Wednesday could send this pair to 0.8500 very quickly. The trading range that I have in my sights for now though is 0.8640 to 0.8750.\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> Only a one pip move in the week. I think that huge trend line support above 1.0650 is keeping the “Loonie” well bid. I am long although out of the money thanks to strong economic data on Friday but I am happy to hold my position moving forward. The range is 1.0700 to 1.0790.<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. I missed my opportunity to keep my previous long trade in play. This is the pair that I will be looking to enter long next week should the EUR/USD fall below 1.3500 once again. For now the range that interests me is 0.8950 to 0.9040.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>We have tested just above 101.00 this week and personally I once again see this pair sub 100.00 before the JPY weakens across the board. This is just my opinion and it does not mean that I will be correct. This year I have got all my JPY predictions wrong…so maybe I am in line for a correct one this time? The range that I am paying attention to is 101.00 to 101.50.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Glenn Stevens RBA speaks.\r\n\r\nTUESDAY: USD – Core CPi.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales.\r\nWEDNESDAY: NZD – Cash Rate, RBNZ Rate Statement and Trade Balance.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Business Confidence.\r\n\r\nFRIDAY: EUR – German IFO Business Climate.\r\nFRIDAY: GBP – GDP.\r\n\r\n&nbsp;\r\n\r\n<strong>7. FINAL THOUGHTS:</strong>\r\n\r\nComing up this week the big news item that is on my radar is the RBNZ interest rate decision on Wednesday. There are PMi releases in Europe and China but the RBNZ is the pick in my opinion.\r\n\r\nWhilst we have entered the summer doldrums regarding liquidity we have huge geopolitical news hanging over the markets and this creates uncertainty and we all know that the markets do not like uncertainty.\r\n\r\nWe have to be very careful trading as the opportunity for massive volatility to run through the markets is high given the thinner cash flows through the Forex market. As I have written the last two weeks, we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 19th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','FX BROKERS (PART 1) - HOW DO I CHOOSE AN FX BROKER?','','publish','open','closed','','fx-brokers-part-1-choose-fx-broker','','','2014-07-19 10:52:46','2014-07-19 15:52:46','',0,'https://weeklyfxdrivethru.com/?p=4120',0,'post','',0),(4121,1,'2014-07-19 10:51:07','2014-07-19 15:51:07','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nFrom a trading perspective this week, we continued to work within very tight ranges in the Forex market although there was more volatility than in previous weeks.\r\n\r\nHowever, geopolitical news events over shadowed the markets with a B777 commercial jet operated by Malaysian Airlines shot down by a missile over the Ukraine, the Israeli army moving into Gaza, militants attacking Kabul airport in Afghanistan and Isis militants in Iraq continuing to fight Iraqi forces to control more land mass.\r\n\r\nThere is a lot of trouble hanging over the markets like the “Sword of Damocles”.\r\n\r\nWhen Economic data is released in the U.S. whether it is good news or bad news – the reaction from the equity markets is that they rise regardless. I believe this happens based on the fact that traders believe that the FED will always be a backstop. To some extent, I expect the FED to support equities should geopolitical news place U.S. equities under pressure. However, given the fact that Quantitative Easing, in my opinion, did NOT achieve all its goals and now the FED has moved monetary policy to tightening away from easing, I am NOT so sure that they would be as anxious to step in as quickly given the fact geopolitical news should be sorted in the first instance by politicians. (My God, there’s subject matter for a few blogs in that last sentence alone!!)\r\n\r\nThe Kiwi finally started a move lower on the back of weaker dairy prices and a CPi data miss. It will be interesting to see what happens this week at the RBNZ meeting and Glenn Wheeler’s statement. The markets were expecting a further 0.25% increase in interest rates but weakening dairy prices, recent economic data misses and the China slowdown uncertainty may delay this move. If that should happen, we could see the NZD/USD target 0.8500 very quickly. If he does increase rates we should move higher once again but I am NOT so certain that a test of the 52-week highs of 0.8842 will be on the cards. However, as James Bond once said…”Never Say Never!!”\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nIn between all the news, I have been working away on a presentation to take the PREMIUM SERVICE on the road later this year in Montreal, and, I have set my objectives to be included in my TRADING PLAN for 2015.\r\n\r\nWith regards to the PREMIUM SERVICE the income from single-lot trades continues to grow each week. This gives me in my opinion, a very good compelling argument to approach new and part-time traders with a great affordable working Forex trading options.\r\n\r\nThe approach that I adopted in mid 2013, by being more flexible with lots sizes by adding and reducing trades as moves develop has really paid off on two fronts. Firstly, RISK MANAGEMENT is far more controllable and this approach enhances TRADE DISCIPLINES, which are paramount for success and longevity. Secondly, the FLEXIBILITY in trading allows us as traders to adapt to real-time situations whilst maybe not eliminating an excellent entry price, therefore my PREMIUM SERVICE approach of mixing, MICRO. MINI and STANDARD lot sizes within the same trades I believe is one of the critical success factors of the PREMIUM SERVICE subscriber option.\r\n\r\nI have added to my list of broker relationships FXCM. I have obtained some great special reduced rate spreads for PREMIUM SERVICE subscribers. If you want to take advantage of these you need to contact me direct by email at <a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a> so that I can manually provide you with a link to obtain better rate spreads.\r\n\r\nAs a Forex trader of 7 years, I have had several relationships with Forex Brokers. I have tested many and removed many for various reasons from my portfolio.\r\n\r\nI now have two that I am very happy to call my preferred brokers for my readers of both blogs, they are: FXCM and BLACKWELL GLOBAL. They both offer different approaches and depending upon the type of trader and experience you have, they provide service options that fits what I have been looking for to offer PREMIUM SERVICE subscribers and readers of the WEEKLY FX DRIVE THRU.\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\"><img class=\"aligncenter size-full wp-image-4112\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS1-19072014.png\" alt=\"PREM SERV PROFITS1 19072014\" width=\"450\" height=\"419\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\"><img class=\"aligncenter size-full wp-image-4113\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-19072014.png\" alt=\"PREM SERV PROFITS2 19072014\" width=\"463\" height=\"423\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n&nbsp;\r\n\r\n<strong>4. THE VIEW FROM MY TRADING DESK:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong><strong> </strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 1\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW DO I CHOOSE A FX BROKER?\r\n</strong></p>\r\n<strong>INTRODUCTION:</strong>\r\n\r\nFor quite sometime I have been working on a piece for this blog on brokers. As most of my regular readers will know, I have been trading Forex for over 7 years, in fact, my LINKEDIN accounts sent out hundreds of 7 year anniversary messages a few weeks ago and my inbox has been bombarded ever since…hence I know that 7 years is a pretty accurate timeline to write.\r\n\r\nFor me, trading Forex is like anything else in business. I look at my Forex accounts with my brokers as business partnerships. I pay for a service they charge me competitively for that service (some more competitive than others!!) and fulfill what I want, which is hopefully to make $$$.\r\n\r\nThe reason that this article has been delayed is quite simply due to the following reasons.\r\n<ol>\r\n	<li>When I decided to launch the PREMIUM SERVICE, I did so knowing that I wanted subscribers to be able to go to my website click on anything that is loaded on to my pages, knowing that I have 100% approved the link to a third party.</li>\r\n	<li>Prior to the PREMIUM SERVICE, I had relationships with four Forex brokers. I still have those relationships today. However, on launching the PREMIUM SERVICE there was a gap in what my prior brokers’ offered based upon my target sector for PREMIUM SERVICE subscribers and I therefore needed to add relationships. The gap by the way was the fact that my prior brokers only offered trades with Mini or Standard lots.</li>\r\n	<li>So in order to facilitate a full range of trading options I added four additional brokers; IRON FX, SENSUS-CAPITAL MARKETS, BLACKWELL GLOBAL and FXCM (This company was held in the background as changes were made throughout 2014 to my broker relationships for PREMIUM SERVICE subscribers).</li>\r\n	<li>If you look at my website today, only BLACKWELL GLOBAL and FXCM remain from the original new brokers. I will explain why they are the only ones left and why the others were removed as this article progresses.</li>\r\n</ol>\r\n<strong>CHOOSING AN FX BROKER - IS IT REALLY A MINEFIELD?</strong>\r\n\r\nShort answer…. yes it can be!\r\n\r\nTo be perfectly honest, personally, I find choosing a broker to partner with, painful at times. At the outset, the salesperson that you speak to is over you like a rash. You know that the promises made to you about everything being just brilliant when you hand over your $$$ is just sales talk that you have to accept in many cases, there are always exceptions but I believe the 80/20 rule applies here. Unfortunately 80% are bad and only 20% are good. This is a very sad reflection upon the Forex Industry. It is a case of buyer beware.\r\n\r\nThe selling process and the promises made about customer service and reliability of the software used in so many occasions just makes it impossible for such customer service standards to ever to be achieved.\r\n\r\nWhat do I look for in my broker relationships?\r\n<ul>\r\n	<li>Software that does not crash, it has to be reliable.</li>\r\n	<li>Good customer service after depositing $$$ irrespective of the size of the balance maintained in the account.</li>\r\n	<li>Fast and effective execution speeds.</li>\r\n	<li>Competitive rate spreads / commissions.</li>\r\n	<li>No hidden fees.</li>\r\n	<li>Easy to use charts.</li>\r\n	<li>Simple management of the software.</li>\r\n	<li>No slippage.</li>\r\n</ul>\r\nI promised a few weeks back that I would go through why certain brokers have been eliminated from the PREMIUM SERVICE. These are just my experiences, you may enjoy a great relationship with brokers that I no longer want to trade with, and, this can happen. In my “inner circle” of trading buddies, we all have had different experiences and there are certain brokers none of us will go near, but we also have mixed opinions. The “I told you so” conversation does happen from time to time. I believe that your Account Manager is paramount and integral to the overall experience.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\"><img class=\"aligncenter size-full wp-image-4116\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKER-SERVICE-COMPARISONS-19072014.png\" alt=\"FX BROKER SERVICE COMPARISONS 19072014\" width=\"458\" height=\"491\" /></a>\r\n\r\nFrom the references inside the above spreadsheet: -\r\n\r\n(1) – Excellent Account Manager, his reputation meant everything to him. Obviously, he felt that he could no longer back up his promises with the support from the company.\r\n\r\n(2) – Very attentive Account Manager in the beginning but the relationship suffered when funds were removed from my account without any communication, allegedly because of a regulatory requirement? Subsequently I have had this verified to an extent, but NOT ONE JOT of why no communications were made. My Account Manager left the company two weeks after this incident.\r\n\r\n(3) – Absolutely hopeless, I was passed from one person to another so many times and I cannot remember how many times the chat line was dropped during this process. It was so frustrating and very time consuming; in fact it was a complete waste of time. This is a totally useless facility for this company, and it must frustrate traders with questions.\r\n\r\n(4) – A dreadful experience. Originally, the IT / Corporate Governance department blamed my Internet connection. No one apparently had ever complained of slippage before…..yeah right! I had it on at least three occasions; I pursued my case through my Account Manager to Corporate Governance for a second time, with more specifics about the third big slippage incident. I was refunded in full, but to force this issue meant the relationship was over. In fairness they were very good on closing my account and transferring monies back to my bank.\r\n\r\n(5) – This was incredible. I could not gain access to areas I was told that I could, and basically for brevity, I was advised that internally my account was set up incorrectly, not in line with what I was originally advised…. basically tough s**t. That was it for me, the final straw they had let me down twice….\r\n\r\nSo to answer the heading of this section and re-emphasize the point; yes, it can be a minefield.\r\n\r\nI have broker relationships with FX PRO, SAXO and ALPARI in addition to FXCM and BLACKWELL GLOBAL through the WEEKLY FX DRIVE THRU and the PREMIUM SERVICE. Both of these brokers provide 100% of what I need to be totally confident with on any client introduction I should be involved with. I have special introductory incentives for subscribers to the PREMIUM SERVICE, but, readers of the FREE WEEKLY FX DRIVE THRU can also benefit as well.\r\n\r\nChoosing a broker is NOT easy. It takes time to build a relationship and it also takes time to adjust to the little quirks that each broker has that differentiates them from each other. I often say in trading, waiting for the trade to come to you is a critical part of trading. Patience is a virtue in trading; it is also a key requirement in broker relationships. There are some great people working in brokers right now, if I could move all these people into a brand new start company, it would be awesome. The problem is that I can’t, and therefore you have to accept the rough with the smooth.\r\n\r\nFor me, one aspect of the relationship that makes matters much easier is consistency. As long as you know where you stand and all the contacts in the brokers you use “sing from the same hymn sheet”, then you have the parameters to work within.\r\n\r\nAdd the broker quirks, and then it allows me to trade certain brokers with certain types / styles of trade. This is crucial for me.\r\n\r\nOne very important aspect to consider when choosing a new or additional broker is to make sure your monies are 100% protected. Your money has to be safe and you need to know that the broker is regulated across several jurisdictions. It sounds crazy but you must look at this, do not take things for granted. Usually, at the foot of the broker’s welcome page you will see a list of where they have financial operations based and the appropriate regulated body to which the brokers’ actions are accountable.\r\n\r\nNext week I will conclude this article with part 2: -\r\n\r\nWHY AND HOW DO I TRADE WITH MULTIPLE FX BROKERS?<strong> </strong>\r\n\r\n<strong>\r\n5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong><strong> </strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3604.</strong> A very frustrating pair to trade this past week. We finally broke through 1.3600 and took out 1.3500 on Friday only to peek back above 1.3500 to end the week. The great thing from my perspective is being short this pair is that there is now real bounce, and, it looks like the bear flag formation measured move that I have referred to over the past week is in play 1.3250 or just a shade below. If you are not yet short this pair obviously a move to 1.3575 offers great resistance and would be seen as a great area that was previous support to short from. The range is 1.3490 to 1.3575.\r\n\r\n<strong>GBP/USD: Closing Price 1.7095</strong>. Not much of a move in the week based upon closing levels. Looking just on closing price one would have to say that consolidation is in play. Cable is not falling, it is holding up very well. So what does not fall only has one way to go. The question is when? Until the breakout happens the trading range is 1.7035 to 1.7150.\r\n\r\n<strong>AUD/USD: Closing Price 0.9391</strong>. Virtually unchanged in the past week. The big news that I see with this pair is the cross-rate effect that has elevated the AUD/NZD in particular about 180 pips in the week. This cross-rate move has kept the AUD/USD well bid. It is however in a tight trading range of 0.9320 to 0.9430.\r\n\r\n<strong>NZD/USD: Closing Price 0.8803</strong>. Finally…. finally…. finally we have seen a downside move but on Friday it held up quite well. The RBNZ interest rate decision this coming Wednesday will really place governor Graeme Wheeler on the hot spot. Economic data of late has been weaker and a rate increase that the market was expecting may backfire, on the other hand, a rate cut could do what the RBNZ has wanted all along this is a weaker Kiwi currency. A non-event on Wednesday could send this pair to 0.8500 very quickly. The trading range that I have in my sights for now though is 0.8640 to 0.8750.\r\n\r\n<strong>USD/CAD: Closing Price 1.0733.</strong> Only a one pip move in the week. I think that huge trend line support above 1.0650 is keeping the “Loonie” well bid. I am long although out of the money thanks to strong economic data on Friday but I am happy to hold my position moving forward. The range is 1.0700 to 1.0790.<strong> </strong>\r\n\r\n<strong>USD/CHF: Closing Price 0.8921</strong>. I missed my opportunity to keep my previous long trade in play. This is the pair that I will be looking to enter long next week should the EUR/USD fall below 1.3500 once again. For now the range that interests me is 0.8950 to 0.9040.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.22. </strong>We have tested just above 101.00 this week and personally I once again see this pair sub 100.00 before the JPY weakens across the board. This is just my opinion and it does not mean that I will be correct. This year I have got all my JPY predictions wrong…so maybe I am in line for a correct one this time? The range that I am paying attention to is 101.00 to 101.50.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: AUD – Glenn Stevens RBA speaks.\r\n\r\nTUESDAY: USD – Core CPi.\r\nTUESDAY: AUD - CPi.\r\n\r\nWEDNESDAY: CAD – Core Retail Sales.\r\nWEDNESDAY: NZD – Cash Rate, RBNZ Rate Statement and Trade Balance.\r\nWEDNESDAY: CNY – HSBC Flash Manufacturing PMi.\r\n\r\nTHURSDAY: EUR – French &amp; German Flash Manufacturing PMi.\r\nTHURSDAY: GBP – Retail Sales.\r\nTHURSDAY: NZD – Business Confidence.\r\n\r\nFRIDAY: EUR – German IFO Business Climate.\r\nFRIDAY: GBP – GDP.\r\n\r\n&nbsp;\r\n\r\n<strong>7. FINAL THOUGHTS:</strong>\r\n\r\nComing up this week the big news item that is on my radar is the RBNZ interest rate decision on Wednesday. There are PMi releases in Europe and China but the RBNZ is the pick in my opinion.\r\n\r\nWhilst we have entered the summer doldrums regarding liquidity we have huge geopolitical news hanging over the markets and this creates uncertainty and we all know that the markets do not like uncertainty.\r\n\r\nWe have to be very careful trading as the opportunity for massive volatility to run through the markets is high given the thinner cash flows through the Forex market. As I have written the last two weeks, we need to exercise TRADING DISCIPLINE and <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 19th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','FX BROKERS (PART 1) - HOW DO I CHOOSE AN FX BROKER?','','inherit','open','closed','','4120-revision-v1','','','2014-07-19 10:51:07','2014-07-19 15:51:07','',4120,'https://weeklyfxdrivethru.com/4120-revision-v1/',0,'revision','',0),(4125,1,'2014-07-20 06:38:57','2014-07-20 11:38:57','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n<div class=\"one-half first\"></div>\r\n\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n<div class=\"one-third\"></div>\r\n&nbsp;\r\n\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-07-20 06:38:57','2014-07-20 11:38:57','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(4126,1,'2014-07-21 07:15:22','2014-07-21 12:15:22','Good Day everyone,\r\n\r\nA very quiet opening to the week. The Geopolitical news still dominates the market. The EUR/USD and USD/JPY will be the drivers to day regarding currencies in my opinion. There is not much to report on at all it is very slow.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span>\r\n\r\nWe are currently trading around 1.3515 or so. We need to break lower below the 1.3490 that we saw on Friday last week to get things moving. It looks like any stops in this pair lie a little below Friday\'s lows and should they be attacked and taken out, then we should get a nice move lower on our hands. From last week, the chart posted with the bear flag formation to about 1.3250 would come into play should we get below the stops that lie below 1.3500.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/JPY:</strong></span>\r\n\r\nSupport at 101.06 from last week is key moving forward. Like the EUR/USD this pair just isn\'t bouncing and resistance at 101.45-50 looks very good.\r\n\r\n&nbsp;\r\n\r\nI have lots of trades open at the moment and I am not really looking to add further exposure but consolidate existing positions by adding lots and moving stops / limits as necessary.\r\n\r\nIt looks like all the bigger news is towards to middle and end of the week, so until then we have to exercise patience and sit back and wait.\r\n\r\nTake care and good luck with any trades you take today,\r\n\r\n&nbsp;\r\n\r\nScott','#72 - THE DAILY FX POST, Monday 21st July 2014','','publish','open','closed','','72-daily-fx-post-monday-21st-july-2014','','','2014-07-21 07:15:22','2014-07-21 12:15:22','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4126',0,'member_posts','',0),(4127,1,'2014-07-21 07:03:17','2014-07-21 12:03:17','','#72 - THE DAILY FX POST, Monday 21st July 2014','','inherit','open','closed','','4126-revision-v1','','','2014-07-21 07:03:17','2014-07-21 12:03:17','',4126,'https://weeklyfxdrivethru.com/4126-revision-v1/',0,'revision','',0),(4128,1,'2014-07-21 07:09:42','2014-07-21 12:09:42','Good Day everyone,\r\n\r\nA very quiet opening to the week. The Geopolitical news still dominates the market. The EUR/USD and USD/JPY will be the drivers to day regarding currencies in my opinion.\r\n\r\nEUR/USD:\r\n\r\nWe are currently trading around 1.3515 or so. We need to break lower below the 1.3490 that we saw on Friday last week to get things moving. It looks like any stops in this pair lie a little below Friday\'s lows and should they be attacked and taken out, then we should get a nice move lower on our hands. From last week, the chart posted with the bear flag formation to about 1.3250 would come into play should we get below the stops that lie below 1.3500.\r\n\r\nUSD/JPY:','#72 - THE DAILY FX POST, Monday 21st July 2014','','inherit','open','closed','','4126-revision-v1','','','2014-07-21 07:09:42','2014-07-21 12:09:42','',4126,'https://weeklyfxdrivethru.com/4126-revision-v1/',0,'revision','',0),(4129,1,'2014-07-21 07:14:45','2014-07-21 12:14:45','Good Day everyone,\r\n\r\nA very quiet opening to the week. The Geopolitical news still dominates the market. The EUR/USD and USD/JPY will be the drivers to day regarding currencies in my opinion.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span>\r\n\r\nWe are currently trading around 1.3515 or so. We need to break lower below the 1.3490 that we saw on Friday last week to get things moving. It looks like any stops in this pair lie a little below Friday\'s lows and should they be attacked and taken out, then we should get a nice move lower on our hands. From last week, the chart posted with the bear flag formation to about 1.3250 would come into play should we get below the stops that lie below 1.3500.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/JPY:</strong></span>\r\n\r\nSupport at 101.06 from last week is key moving forward. Like the EUR/USD this pair just isn\'t bouncing and resistance at 101.45-50 looks very good.\r\n\r\n&nbsp;\r\n\r\nI have lots of trades open at the moment and I am not really looking to add further exposure but consolidate existing positions by adding lots and moving stops / limits as necessary.\r\n\r\nIt looks like all the bigger news is towards to middle and end of the week, so until then we have to exercise patience and sit back and wait.\r\n\r\nTake care and good luck with any trades you take today,\r\n\r\n&nbsp;\r\n\r\nScott','#72 - THE DAILY FX POST, Monday 21st July 2014','','inherit','open','closed','','4126-revision-v1','','','2014-07-21 07:14:45','2014-07-21 12:14:45','',4126,'https://weeklyfxdrivethru.com/4126-revision-v1/',0,'revision','',0),(4130,1,'2014-07-21 07:15:22','2014-07-21 12:15:22','Good Day everyone,\r\n\r\nA very quiet opening to the week. The Geopolitical news still dominates the market. The EUR/USD and USD/JPY will be the drivers to day regarding currencies in my opinion. There is not much to report on at all it is very slow.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span>\r\n\r\nWe are currently trading around 1.3515 or so. We need to break lower below the 1.3490 that we saw on Friday last week to get things moving. It looks like any stops in this pair lie a little below Friday\'s lows and should they be attacked and taken out, then we should get a nice move lower on our hands. From last week, the chart posted with the bear flag formation to about 1.3250 would come into play should we get below the stops that lie below 1.3500.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/JPY:</strong></span>\r\n\r\nSupport at 101.06 from last week is key moving forward. Like the EUR/USD this pair just isn\'t bouncing and resistance at 101.45-50 looks very good.\r\n\r\n&nbsp;\r\n\r\nI have lots of trades open at the moment and I am not really looking to add further exposure but consolidate existing positions by adding lots and moving stops / limits as necessary.\r\n\r\nIt looks like all the bigger news is towards to middle and end of the week, so until then we have to exercise patience and sit back and wait.\r\n\r\nTake care and good luck with any trades you take today,\r\n\r\n&nbsp;\r\n\r\nScott','#72 - THE DAILY FX POST, Monday 21st July 2014','','inherit','open','closed','','4126-revision-v1','','','2014-07-21 07:15:22','2014-07-21 12:15:22','',4126,'https://weeklyfxdrivethru.com/4126-revision-v1/',0,'revision','',0),(4131,1,'2014-07-22 07:17:16','2014-07-22 12:17:16','Good Day,\r\n\r\nSome moves overnight, not massive moves but moves all the same. The interesting thing is that all the critical support and resistance levels have held so far. My big question is... will the hold in the North American session or will we bounce?\r\n\r\nEUR/USD: 1.3475-80 has held very well so far. A break below should open up 1.3450 and then I think the bear flag formation that I have posted recently comes more into play with its measured move to 1.3250.\r\n\r\nI am looking a t a lot of green numbers dotted throughout my brokers at the moment and I want to let these trades run as long as the EUR/USD looks to be heading lower. During the day I will add to profitable positions and maybe take some profits off the table at the same time and move stops to break even. I will tweet any changes that i make to current trades.\r\n\r\nOvernight, I added to my EUR//USD short and added to the NZD/USD short and then removed 50% of my profits from the Kiwi after about a further 5 pip fall.\r\n\r\nI am NOT looking to add risk and ahead of the RBNZ tomorrow I will be removing trades that may be affected by an interest rate hike.....AUD/NZD long and NZD/USD short.\r\n\r\nTake care, be careful of false moves as this market has a habit of bouncing back strong from false moves.\r\n\r\nScott.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#73 - THE DAILY FX POST, Tuesday 22nd July 2014','','publish','open','closed','','73-daily-fx-post-tuesday-22nd-july-2014','','','2014-07-22 07:17:16','2014-07-22 12:17:16','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4131',0,'member_posts','',0),(4132,1,'2014-07-22 07:02:55','2014-07-22 12:02:55','Good Day,\r\n\r\nSome moves overnight, not massive moves but moves all the same. The interesting thing is that all the critical support and resistance levels have held so far. My big question is... will the hold in the North American session or will we bounce?\r\n\r\nEUR/USD:\r\n\r\n1.3475-80 has held very well so far. A break below should open up 1.3450 and then I think the bear flag formation that I have posted recently','#73 - THE DAILY FX POST, Tuesday 22nd July 2014','','inherit','open','closed','','4131-revision-v1','','','2014-07-22 07:02:55','2014-07-22 12:02:55','',4131,'https://weeklyfxdrivethru.com/4131-revision-v1/',0,'revision','',0),(4133,1,'2014-07-22 07:17:16','2014-07-22 12:17:16','Good Day,\r\n\r\nSome moves overnight, not massive moves but moves all the same. The interesting thing is that all the critical support and resistance levels have held so far. My big question is... will the hold in the North American session or will we bounce?\r\n\r\nEUR/USD: 1.3475-80 has held very well so far. A break below should open up 1.3450 and then I think the bear flag formation that I have posted recently comes more into play with its measured move to 1.3250.\r\n\r\nI am looking a t a lot of green numbers dotted throughout my brokers at the moment and I want to let these trades run as long as the EUR/USD looks to be heading lower. During the day I will add to profitable positions and maybe take some profits off the table at the same time and move stops to break even. I will tweet any changes that i make to current trades.\r\n\r\nOvernight, I added to my EUR//USD short and added to the NZD/USD short and then removed 50% of my profits from the Kiwi after about a further 5 pip fall.\r\n\r\nI am NOT looking to add risk and ahead of the RBNZ tomorrow I will be removing trades that may be affected by an interest rate hike.....AUD/NZD long and NZD/USD short.\r\n\r\nTake care, be careful of false moves as this market has a habit of bouncing back strong from false moves.\r\n\r\nScott.\r\n\r\n&nbsp;\r\n\r\n&nbsp;','#73 - THE DAILY FX POST, Tuesday 22nd July 2014','','inherit','open','closed','','4131-revision-v1','','','2014-07-22 07:17:16','2014-07-22 12:17:16','',4131,'https://weeklyfxdrivethru.com/4131-revision-v1/',0,'revision','',0),(4134,1,'2014-07-23 07:24:38','2014-07-23 12:24:38','Good Day,\r\n\r\nAs mentioned yesterday, I cleansed my LIVE trades to move out of NZD related pairs (except long-term hedged GBP/NZD long trade). Both AUD/NZD long and NZD/USD short trades were closed for small profits. The short NZD/USD trade had been LIVE for 28 days and whilst I had added to and taken  % profits off the table along the way in the past 28 days from its original selling price that I entered the trade on I made just 3 pips. Big whoopee!! having checked my admin, it looks like I banked $157.00 net on the trade. It was a small position all the time, but it shows just how hard it can be to make serious $$$  without going outside your RISK PARAMETERS and MONEY MANAGEMENT principles.\r\n\r\nFor information, the FUN 37 trade GBP/AUD is now hedged. By the way I am staying away from adding additionally AUD trades until after the RBNZ news and my idea for an entry on the AUD/USD  is at 0.9500.\r\n\r\nThe big news on the calendar today is the RBNZ interest rate decision, after the CAD Core Retail Sales. in the North American session.\r\n\r\nHere is how I am going to play the NZD later today after the news breaks. It all depends on the way Wheeler plays this, the market is expecting another 0.25% rate increase and allegedly its priced-in. If he raises rates it will still spike and so I will be looking to sell into strength, if he does nothing today, I think all hell will break loose and it will be an entry on pullbacks.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD</span> - already long and hedged from 1.9800.\r\n\r\n<span style=\"text-decoration: underline;\">AUD/NZD</span> -  Although I exited this trade I still think that it is FUNDAMENTALLY going long and I still have 1.1350 and maybe 1.1600 in mind as targets. I think after today\'s news this pair will be a FUNDAMENTAL trade set-up pretty soon. Having just written that I do think we need to see 1.1000 to really get momentum moving once again. I noticed after the AUD news last night it spiked up to 1.0876 which is the 61.8% retracement. Ideally, a move back to 1.0700 to get long would be good.  If it falls , I need to think about short as FUNDAMENTALLY I am long.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/NZD</span> - Long at 1.5400, with a stop at 1.5000 (just below) looks like a trade at the moment. But I need to see the news first.\r\n\r\n<span style=\"text-decoration: underline;\">NZD/USD</span> - Is a short at 52 week highs of 0.8842. Need to see the comments first. FUNDAMENTALLY, I am biased short with this pair.\r\n\r\nGood luck today, I will tweet later....\r\n\r\nScott','#74 - THE DAILY FX POST, Wednesday 23rd July 2014','','publish','open','closed','','74-daily-fx-post-wednesday-23rd-july-2014','','','2014-07-23 07:24:38','2014-07-23 12:24:38','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4134',0,'member_posts','',0),(4135,1,'2014-07-23 07:03:16','2014-07-23 12:03:16','Good Day,\r\n\r\nAs mentioned yesterday, I cleansed my LIVE trades to move out of NZD related pairs (except long-term hedged GBP/NZD long trade). Both AUD/NZD long and NZD/USD short trades were closed for small profits. The short NZD/USD trade had been LIVE for 28 days and whilst I had added to and taken  % profits off the table along the way in the past 28 days from its original selling price that I entered the trade on I made just 3 pips. Big whoopee!! having checked my admin, it looks like I banked $157.00 net on the trade. It was a small position all the time, but it shows just how hard it can be to make serious $$$  without going outside your RISK PARAMETERS and MONEY MANAGEMENT principles.','#74 - THE DAILY FX POST, Wednesday 23rd July 2014','','inherit','open','closed','','4134-revision-v1','','','2014-07-23 07:03:16','2014-07-23 12:03:16','',4134,'https://weeklyfxdrivethru.com/4134-revision-v1/',0,'revision','',0),(4136,1,'2014-07-23 07:24:20','2014-07-23 12:24:20','Good Day,\r\n\r\nAs mentioned yesterday, I cleansed my LIVE trades to move out of NZD related pairs (except long-term hedged GBP/NZD long trade). Both AUD/NZD long and NZD/USD short trades were closed for small profits. The short NZD/USD trade had been LIVE for 28 days and whilst I had added to and taken  % profits off the table along the way in the past 28 days from its original selling price that I entered the trade on I made just 3 pips. Big whoopee!! having checked my admin, it looks like I banked $157.00 net on the trade. It was a small position all the time, but it shows just how hard it can be to make serious $$$  without going outside your RISK PARAMETERS and MONEY MANAGEMENT principles.\r\n\r\nFor information, the FUN 37 trade GBP/AUD is now hedged. By the way I am staying away from adding additionally AUD trades until after the RBNZ news and my idea for an entry on the AUD/USD  is at 0.9500.\r\n\r\nThe big news on the calendar today is the RBNZ interest rate decision, after the CAD Core Retail Sales. in the North American session.\r\n\r\nHere is how I am going to play the NZD later today after the news breaks. It all depends on the way Wheeler plays this, the market is expecting another 0.25% rate increase and allegedly its priced-in. If he raises rates it will still spike and so I will be looking to sell into strength, if he does nothing today, I think all hell will break loose and it will be an entry on pullbacks.\r\n\r\n<span style=\"text-decoration: underline;\">GBP/NZD</span> - already long and hedged from 1.9800.\r\n\r\n<span style=\"text-decoration: underline;\">AUD/NZD</span> -  Although I exited this trade I still think that it is FUNDAMENTALLY going long and I still have 1.1350 and maybe 1.1600 in mind as targets. I think after today\'s news this pair will be a FUNDAMENTAL trade set-up pretty soon. Having just written that I do think we need to see 1.1000 to really get momentum moving once again. I noticed after the AUD news last night it spiked up to 1.0876 which is the 61.8% retracement. Ideally, a move back to 1.0700 to get long would be good.  If it falls , I need to think about short as FUNDAMENTALLY I am long.\r\n\r\n<span style=\"text-decoration: underline;\">EUR/NZD</span> - Long at 1.5400, with a stop at 1.5000 (just below) looks like a trade at the moment. But I need to see the news first.\r\n\r\n<span style=\"text-decoration: underline;\">NZD/USD</span> - Is a short at 52 week highs of 0.8842. Need to see the comments first. FUNDAMENTALLY, I am biased short with this pair.\r\n\r\nGood luck today, I will tweet later....\r\n\r\nScott','#74 - THE DAILY FX POST, Wednesday 23rd July 2014','','inherit','open','closed','','4134-revision-v1','','','2014-07-23 07:24:20','2014-07-23 12:24:20','',4134,'https://weeklyfxdrivethru.com/4134-revision-v1/',0,'revision','',0),(4138,1,'2014-07-25 07:34:57','2014-07-25 12:34:57','Good Day,\r\n\r\nThe USD is on the cusp of a breakout at the moment, or, a rejection at 81.02 which is resistance on the USD index.\r\n\r\nIt is a Friday...so do not get too carried away with matters. We have seen some continuation moves this week, with the EUR/USD continuing its move lower and the cable being dragged along for the ride. The NZD/USD after a rate hike has pulled back and looks like it is going to drop lower at least to 0.8500.  Given the EUR move, the pressure should be on the USD index to break higher. My only reservation is the slow bring higher in U.S. equities and I see the 2,000 number as a target for the S&amp;P. Maybe, we have to break this before we stop moving higher....who knows?\r\n\r\nHowever, there is nothing written in tablets of stone to say that the USD Index cannot break higher and equities move up at the same time.\r\n\r\nLooking at the currencies. If you are not yet long the USD/CAD it is now above 1.0750 and looks like it wants to flex its muscles higher.\r\n\r\nI am looking at the USD/CHF to get long 0.9035 is now being taken and I am considering entering long.\r\n\r\nAs I mentioned earlier I have added to my NZD/USD short and below 1.3420 I will add again to my EUR/USD short.\r\n\r\nJust to confirm, tomorrow will be the last \"DRIVE THRU\" blog until September 6th, but I am around next week and will be tweeting and doing the DAILY FX POSTS.\r\n\r\nGood Luck,\r\n\r\nScott','#75 - THE DAILY FX POST, Friday 25th July 2014','','inherit','open','closed','','4137-revision-v1','','','2014-07-25 07:34:57','2014-07-25 12:34:57','',4137,'https://weeklyfxdrivethru.com/4137-revision-v1/',0,'revision','',0),(4151,1,'2014-07-26 11:14:28','2014-07-26 16:14:28','<strong> </strong>\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n<p style=\"text-align: left;\">GERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:             Overall Manufacturing PMi missed expectations.\r\nEUROZONE:             Overall Services PMi beat expectations.\r\nUK:                               GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.</p>\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” will provide additional information)\r\n\r\nand / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\nVENUE:         Hampton Inn and Suites.\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\nSunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 2\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong> <strong>\r\n</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.\r\n\r\nTrading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.\r\n\r\nYou can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goals and objectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.\r\n\r\nAs you are aware I trade three styles of trade: -\r\n\r\nFLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.\r\n\r\nBy breaking down my broker relationships by trading style this gave me an instant snapshot as to how my trade styles were progressing.\r\n\r\nSo I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offer the option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within the parameters of my TRADING PLAN.\r\n\r\nBy selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of comments are made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.\r\n\r\nOne thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3429\r\nPosition: +141 pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0803\r\nPosition: +28 pips\r\n\r\nFT164\r\nUSD/JPY\r\nShort\r\nEntry: 101.83\r\nStop Loss: 102.35\r\nLimit / Target: 100.85\r\nWeekly Closing Price: 101.75\r\nPosition: +8 pips\r\n\r\nI show the chart below that had me interested in this pair. I expected the trend line to hold at 101.80 (61.8% retracement). We have been as high as 101.93 and on the back of good Durable Goods data yesterday (Friday) 102.00 could still not be breached. In fact the USD/JPY traded in a 25 pip trading range, which tells me it will struggle to breach 102.00. I have my stop at 102.35 just above the 100% retracement level. Time will tell if I am correct.\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014.png\"><img class=\"aligncenter size-large wp-image-4139\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014-1024x504.png\" alt=\"USDJPY DAILY 25072014\" width=\"1024\" height=\"504\" /></a> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT135\r\nNZD/USD\r\nShort\r\nCost Average: 0.8621\r\nStop Loss: 0.8725\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8553\r\nPosition: +68 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9833\r\nPosition: +33 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4520\r\nPosition: +20 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong (This trade is hedged at 100 pip loss)\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8065\r\nPosition: -135 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8341\r\nPosition: +41 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI posted on Friday (25<sup>th</sup>) several TRADES ON MY RADAR top twitter. Therefore all tweeted and previous limit orders are amalgamated below.\r\n\r\nRT136\r\nAUD/NZD\r\nLong at 1.0900\r\nStop at 1.0840\r\nLimit at 1.1350\r\n\r\nRT137\r\nUSD/CHF\r\nLong at 0.9035\r\nStop at 0.9000\r\nLimit at 0.9450\r\n\r\nRT138\r\nGBP/CHF\r\nLong at 1.5340\r\nStop at 1.5275\r\nLimit at 1.7100\r\n\r\nRT139\r\nEUR/GBP\r\nShort at 0.7915\r\nStop at 0.7960\r\nLimit at 0.7600\r\n\r\nRT140\r\nAUD/USD\r\nShort at 0.9460\r\nStop at 0.9520\r\nLimit at 0.8500\r\n\r\n&nbsp;\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/CHF\r\nAUD/CAD\r\nGBP/CAD\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nCAD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?','','inherit','open','closed','','4150-revision-v1','','','2014-07-26 11:14:28','2014-07-26 16:14:28','',4150,'https://weeklyfxdrivethru.com/4150-revision-v1/',0,'revision','',0),(4149,1,'2014-07-26 11:02:02','2014-07-26 16:02:02','','FX BROKERS - PART 2','','inherit','open','closed','','fx-brokers-part-2','','','2014-07-26 11:02:02','2014-07-26 16:02:02','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf',0,'attachment','application/pdf',0),(4150,1,'2014-07-26 11:17:23','2014-07-26 16:17:23','<strong> </strong>\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n<p style=\"text-align: left;\">GERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:             Overall Manufacturing PMi missed expectations.\r\nEUROZONE:             Overall Services PMi beat expectations.\r\nUK:                               GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.</p>\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\nVENUE:         Hampton Inn and Suites.\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\nTIMES:           Sunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 2\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong> <strong>\r\n</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.Trading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.You can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goalsandobjectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.As you are aware I trade three styles of trade: -FLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.By breaking down my broker relationships by trading style this gave me an instant snapshotas to how my trade styles were progressing.So I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offerthe option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within theparameters of my TRADING PLAN.By selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of commentsare made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.One thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3429\r\nPosition: +141 pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0803\r\nPosition: +28 pips\r\n\r\nFT164\r\nUSD/JPY\r\nShort\r\nEntry: 101.83\r\nStop Loss: 102.35\r\nLimit / Target: 100.85\r\nWeekly Closing Price: 101.75\r\nPosition: +8 pips\r\n\r\nI show the chart below that had me interested in this pair. I expected the trend line to hold at 101.80 (61.8% retracement). We have been as high as 101.93 and on the back of good Durable Goods data yesterday (Friday) 102.00 could still not be breached. In fact the USD/JPY traded in a 25 pip trading range, which tells me it will struggle to breach 102.00. I have my stop at 102.35 just above the 100% retracement level. Time will tell if I am correct.\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014.png\"><img class=\"aligncenter size-large wp-image-4139\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014-1024x504.png\" alt=\"USDJPY DAILY 25072014\" width=\"1024\" height=\"504\" /></a> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT135\r\nNZD/USD\r\nShort\r\nCost Average: 0.8621\r\nStop Loss: 0.8725\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8553\r\nPosition: +68 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9833\r\nPosition: +33 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4520\r\nPosition: +20 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong (This trade is hedged at 100 pip loss)\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8065\r\nPosition: -135 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8341\r\nPosition: +41 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI posted on Friday (25<sup>th</sup>) several TRADES ON MY RADAR top twitter. Therefore all tweeted and previous limit orders are amalgamated below.\r\n\r\nRT136\r\nAUD/NZD\r\nLong at 1.0900\r\nStop at 1.0840\r\nLimit at 1.1350\r\n\r\nRT137\r\nUSD/CHF\r\nLong at 0.9035\r\nStop at 0.9000\r\nLimit at 0.9450\r\n\r\nRT138\r\nGBP/CHF\r\nLong at 1.5340\r\nStop at 1.5275\r\nLimit at 1.7100\r\n\r\nRT139\r\nEUR/GBP\r\nShort at 0.7915\r\nStop at 0.7960\r\nLimit at 0.7600\r\n\r\nRT140\r\nAUD/USD\r\nShort at 0.9460\r\nStop at 0.9520\r\nLimit at 0.8500\r\n\r\n&nbsp;\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/CHF\r\nAUD/CAD\r\nGBP/CAD\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nCAD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?','','publish','open','closed','','fx-brokers-part-2-trade-multiple-fx-broker-accounts','','','2014-07-26 11:17:23','2014-07-26 16:17:23','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4150',0,'member_posts','',0),(4152,1,'2014-07-26 11:16:42','2014-07-26 16:16:42','<strong> </strong>\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n<p style=\"text-align: left;\">GERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:             Overall Manufacturing PMi missed expectations.\r\nEUROZONE:             Overall Services PMi beat expectations.\r\nUK:                               GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.</p>\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\nVENUE:         Hampton Inn and Suites.\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\nTIMES:           Sunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 2\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong> <strong>\r\n</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.Trading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.\r\n\r\nYou can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goals andobjectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.As you are aware I trade three styles of trade: -\r\n\r\nFLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.By breaking down my broker relationships by trading style this gave me an instant snapshot as to how my trade styles were progressing.\r\n\r\nSo I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offerthe option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within theparameters of my TRADING PLAN.By selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of commentsare made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.One thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3429\r\nPosition: +141 pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0803\r\nPosition: +28 pips\r\n\r\nFT164\r\nUSD/JPY\r\nShort\r\nEntry: 101.83\r\nStop Loss: 102.35\r\nLimit / Target: 100.85\r\nWeekly Closing Price: 101.75\r\nPosition: +8 pips\r\n\r\nI show the chart below that had me interested in this pair. I expected the trend line to hold at 101.80 (61.8% retracement). We have been as high as 101.93 and on the back of good Durable Goods data yesterday (Friday) 102.00 could still not be breached. In fact the USD/JPY traded in a 25 pip trading range, which tells me it will struggle to breach 102.00. I have my stop at 102.35 just above the 100% retracement level. Time will tell if I am correct.\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014.png\"><img class=\"aligncenter size-large wp-image-4139\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014-1024x504.png\" alt=\"USDJPY DAILY 25072014\" width=\"1024\" height=\"504\" /></a> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT135\r\nNZD/USD\r\nShort\r\nCost Average: 0.8621\r\nStop Loss: 0.8725\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8553\r\nPosition: +68 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9833\r\nPosition: +33 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4520\r\nPosition: +20 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong (This trade is hedged at 100 pip loss)\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8065\r\nPosition: -135 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8341\r\nPosition: +41 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI posted on Friday (25<sup>th</sup>) several TRADES ON MY RADAR top twitter. Therefore all tweeted and previous limit orders are amalgamated below.\r\n\r\nRT136\r\nAUD/NZD\r\nLong at 1.0900\r\nStop at 1.0840\r\nLimit at 1.1350\r\n\r\nRT137\r\nUSD/CHF\r\nLong at 0.9035\r\nStop at 0.9000\r\nLimit at 0.9450\r\n\r\nRT138\r\nGBP/CHF\r\nLong at 1.5340\r\nStop at 1.5275\r\nLimit at 1.7100\r\n\r\nRT139\r\nEUR/GBP\r\nShort at 0.7915\r\nStop at 0.7960\r\nLimit at 0.7600\r\n\r\nRT140\r\nAUD/USD\r\nShort at 0.9460\r\nStop at 0.9520\r\nLimit at 0.8500\r\n\r\n&nbsp;\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/CHF\r\nAUD/CAD\r\nGBP/CAD\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nCAD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?','','inherit','open','closed','','4150-revision-v1','','','2014-07-26 11:16:42','2014-07-26 16:16:42','',4150,'https://weeklyfxdrivethru.com/4150-revision-v1/',0,'revision','',0),(4153,1,'2014-07-26 11:17:23','2014-07-26 16:17:23','<strong> </strong>\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n<p style=\"text-align: left;\">GERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:             Overall Manufacturing PMi missed expectations.\r\nEUROZONE:             Overall Services PMi beat expectations.\r\nUK:                               GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.</p>\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\nVENUE:         Hampton Inn and Suites.\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\nTIMES:           Sunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. THE FUNDAMENTAL TRADERS OVERVIEW:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:</strong></p>\r\n<p style=\"text-align: center;\"><strong>PART 2\r\n</strong></p>\r\n<p style=\"text-align: center;\"><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong> <strong>\r\n</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.Trading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.You can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goalsandobjectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.As you are aware I trade three styles of trade: -FLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.By breaking down my broker relationships by trading style this gave me an instant snapshotas to how my trade styles were progressing.So I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offerthe option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within theparameters of my TRADING PLAN.By selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of commentsare made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.One thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. TRADER TOPICS:</strong>\r\n\r\nThis section’s content will re-appear after the summer break\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MY CURRENT LIVE TRADES:</strong>\r\n\r\n<strong>FLASH TRADES:</strong>\r\n\r\nFT160\r\nEUR/USD\r\nShort\r\nEntry: 1.3570\r\nStop Loss: 1.3650\r\nLimit / Target: 1.3210\r\nWeekly Closing Price: 1.3429\r\nPosition: +141 pips\r\n\r\nFT162\r\nUSD/CAD\r\nLong\r\nEntry: 1.0775\r\nStop Loss: 1.0700\r\nLimit / Target: 1.0875\r\nWeekly Closing Price: 1.0803\r\nPosition: +28 pips\r\n\r\nFT164\r\nUSD/JPY\r\nShort\r\nEntry: 101.83\r\nStop Loss: 102.35\r\nLimit / Target: 100.85\r\nWeekly Closing Price: 101.75\r\nPosition: +8 pips\r\n\r\nI show the chart below that had me interested in this pair. I expected the trend line to hold at 101.80 (61.8% retracement). We have been as high as 101.93 and on the back of good Durable Goods data yesterday (Friday) 102.00 could still not be breached. In fact the USD/JPY traded in a 25 pip trading range, which tells me it will struggle to breach 102.00. I have my stop at 102.35 just above the 100% retracement level. Time will tell if I am correct.\r\n\r\n<strong> </strong>\r\n\r\n<strong><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014.png\"><img class=\"aligncenter size-large wp-image-4139\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/USDJPY-DAILY-25072014-1024x504.png\" alt=\"USDJPY DAILY 25072014\" width=\"1024\" height=\"504\" /></a> </strong>\r\n\r\n<strong>RADAR TRADES:</strong>\r\n\r\nRT135\r\nNZD/USD\r\nShort\r\nCost Average: 0.8621\r\nStop Loss: 0.8725\r\nLimit / Target: 0.8000\r\nWeekly Closing Price: 0.8553\r\nPosition: +68 pips\r\n\r\n<strong>FUNDAMENTAL TRADES:</strong>\r\n\r\nFUN14\r\nGBP/NZD\r\nLong\r\nCost Average: 1.9800\r\nStop Loss: 1.9000\r\nLimit / Target: 2.2350\r\nWeekly Closing Price: 1.9833\r\nPosition: +33 pips\r\n\r\nFUN36\r\nEUR/CAD\r\nLong\r\nCost Average: 1.4500\r\nStop Loss: 1.4000\r\nLimit / Target: 1.5500\r\nWeekly Closing Price: 1.4520\r\nPosition: +20 pips\r\n\r\nFUN37\r\nGBP/AUD\r\nLong (This trade is hedged at 100 pip loss)\r\nCost Average: 1.8200\r\nStop Loss: 1.7500\r\nLimit / Target: 1.9155\r\nWeekly Closing Price: 1.8065\r\nPosition: -135 pips\r\n\r\nFUN38\r\nGBP/CAD\r\nLong\r\nCost Average: 1.8300\r\nStop Loss: 1.7700\r\nLimit / Target: 1.9085\r\nWeekly Closing Price: 1.8341\r\nPosition: +41 pips\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>7. TRADES THAT ARE ON MY RADAR:</strong>\r\n\r\nI posted on Friday (25<sup>th</sup>) several TRADES ON MY RADAR top twitter. Therefore all tweeted and previous limit orders are amalgamated below.\r\n\r\nRT136\r\nAUD/NZD\r\nLong at 1.0900\r\nStop at 1.0840\r\nLimit at 1.1350\r\n\r\nRT137\r\nUSD/CHF\r\nLong at 0.9035\r\nStop at 0.9000\r\nLimit at 0.9450\r\n\r\nRT138\r\nGBP/CHF\r\nLong at 1.5340\r\nStop at 1.5275\r\nLimit at 1.7100\r\n\r\nRT139\r\nEUR/GBP\r\nShort at 0.7915\r\nStop at 0.7960\r\nLimit at 0.7600\r\n\r\nRT140\r\nAUD/USD\r\nShort at 0.9460\r\nStop at 0.9520\r\nLimit at 0.8500\r\n\r\n&nbsp;\r\n\r\n<strong>8. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.<strong> </strong>\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.<strong> </strong>\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>9. MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</strong>\r\n\r\nI have received a few emails from subscribers of the PREMIUM SERVICE asking me to place this in the WEEKLY FX DRIVE THRU. (I have tweeted it several times recently)\r\n\r\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\r\n\r\n<span style=\"text-decoration: underline;\">LONG:</span>\r\n\r\nUSD/CAD\r\nUSD/CHF\r\nAUD/CAD\r\nGBP/CAD\r\nGBP/CHF\r\nAUD/NZD\r\nUSD/DKK\r\nUSD/NOK\r\n\r\n<span style=\"text-decoration: underline;\">SHORT:</span>\r\n\r\nEUR/USD\r\nEUR/GBP\r\nCAD/JPY\r\nCHF/JPY\r\nEUR/JPY\r\nNZD/JPY\r\n\r\n<strong> </strong>\r\n\r\n<strong>10. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n&nbsp;\r\n\r\n<strong>11. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\n\r\n&nbsp;','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?','','inherit','open','closed','','4150-revision-v1','','','2014-07-26 11:17:23','2014-07-26 16:17:23','',4150,'https://weeklyfxdrivethru.com/4150-revision-v1/',0,'revision','',0),(4157,1,'2014-07-26 11:25:29','2014-07-26 16:25:29','<section class=\"pdf-links\">\r\n<div class=\"one-third first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/CREATING-A-TRADING-PLAN-3.0.pdf\">CREATING A TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/PLANNING-YOUR-TRADES-2.0.pdf\">PLANNING YOUR TRADES (2.0)</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/MAXIMISING-PROFIT-POTENTIAL-BY-PROPERLY-SIZING-POSITIONS.pdf\">MAXIMISING PROFIT POTENTIAL BY PROPERLY SIZING POSITIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/HANDLING-NEWS-WITH-AN-OPEN-POSITION.pdf\">HANDLING NEWS WITH AN OPEN POSITION</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/LIVE-ACCOUNT-vs-DEMO-ACCOUNT.pdf\">LIVE ACCOUNT vs DEMO ACCOUNT</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-WITH-A-FLEXIBLE-MINDSET.pdf\">TRADING WITH A FLEXIBLE MINDSET</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/A-MATHEMATICAL-APPROACH-TO-ELIMINATING-EMOTIONS.pdf\">A MATHEMATICAL APPROACH TO ELIMINATING EMOTIONS</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/06/TIPS-IN-ADJUSTING-TO-THE-FOREX-MARKET-WHEN-THERE-IS-LOW-VOLATILITY.pdf\">TIPS IN ADJUSTING TO THE FOREX MARKET WHEN THERE IS LOW VOLATILITY</a>\r\n<div class=\"one-third\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n<div class=\"one-half first\"></div>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\"></div>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>\r\n<div class=\"one-third\"></div>\r\n&nbsp;\r\n\r\n</section>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2014-07-26 11:25:29','2014-07-26 16:25:29','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(4158,1,'2014-07-26 11:45:40','2014-07-26 16:45:40','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n\r\nGERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:              Overall Manufacturing PMi missed expectations.\r\nEUROZONE:              Overall Services PMi beat expectations.\r\nUK:                              GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.\r\n\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n<p style=\"text-align: left; padding-left: 120px;\"><strong>DATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.</strong>\r\n<strong>VENUE:         Hampton Inn and Suites.</strong>\r\n<strong>ADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.</strong>\r\n<strong>TIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.</strong>\r\n<strong>TIMES:           Sunday - 2.30PM and 4.30PM.</strong></p>\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADING SUPPORT:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:\r\n</strong><strong>PART 2\r\n</strong><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.Trading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.\r\n\r\nYou can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goals andobjectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.As you are aware I trade three styles of trade: -\r\n\r\nFLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.By breaking down my broker relationships by trading style this gave me an instant snapshot as to how my trade styles were progressing.\r\n\r\nSo I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offerthe option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within theparameters of my TRADING PLAN.By selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of commentsare made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.One thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\n\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS ?','','publish','open','closed','','fx-brokers-part-2-trade-multiple-fx-broker-accounts','','','2014-07-26 11:45:40','2014-07-26 16:45:40','',0,'https://weeklyfxdrivethru.com/?p=4158',0,'post','',0),(4159,1,'2014-07-26 11:43:37','2014-07-26 16:43:37','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n\r\nGERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:              Overall Manufacturing PMi missed expectations.\r\nEUROZONE:              Overall Services PMi beat expectations.\r\nUK:                              GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.\r\n\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” will provide additional information)\r\n\r\nand / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n<p style=\"text-align: left; padding-left: 120px;\"><strong>DATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.</strong>\r\n<strong>VENUE:         Hampton Inn and Suites.</strong>\r\n<strong>ADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.</strong>\r\n<strong>TIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.</strong>\r\n<strong>TIMES:           Sunday - 2.30PM and 4.30PM.</strong></p>\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADING SUPPORT:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:\r\n</strong><strong>PART 2\r\n</strong><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.\r\n\r\nTrading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.\r\n\r\nYou can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goals and objectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.\r\n\r\nAs you are aware I trade three styles of trade: -\r\n\r\nFLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.\r\n\r\nBy breaking down my broker relationships by trading style this gave me an instant snapshot as to how my trade styles were progressing.\r\n\r\nSo I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offer the option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within the parameters of my TRADING PLAN.\r\n\r\nBy selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of comments are made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.\r\n\r\nOne thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\n\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS ?','','inherit','open','closed','','4158-revision-v1','','','2014-07-26 11:43:37','2014-07-26 16:43:37','',4158,'https://weeklyfxdrivethru.com/4158-revision-v1/',0,'revision','',0),(4160,1,'2014-07-26 11:45:40','2014-07-26 16:45:40','&nbsp;\r\n\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThe RBNZ dominated the economic data during the week from my perspective. It just goes to show you that a central bank can increase rates and yet the currency can drop. As you know, the Forex market is a future focused pricing mechanism.\r\n\r\nThe RBNZ through governor Wheeler has basically brought interest rate increases to a halt and the market, which, was expecting a continued hawkish outlook received was amounted to a change in monetary policy announcement. The RNBZ announced that no more rate hikes were on the horizon moving forward and as a result the NZD pulled back. Wheeler also re-iterated that the NZD was way over-valued once again and this time verbal intervention coupled with a halt in rate hikes has given us this about face and the NZD has weakened.\r\n\r\nJust how far the currency will drop is anyone’s guess at the moment, but I feel that the round number of 0.8500 in the NZD/USD should be the initial target. The RBNZ probably has a sub 0.8000 figure in mind.\r\n\r\nGeopolitical news is still hovering in the background and we must remain aware of this factor when placing trades. I am always conscious that any trouble in Middle East can escalate very quickly particularly when Israel is involved. We have not heard the end of MH17 either. Sanctions against Russia will mount. In my opinion the only away is to remove Russia from the banking SWIFT and IBAN codes system. This will have an effect on Putin’s position inside 24 hours. But it would also damage lots of European businesses as well. It is a case of just how far the world’s leaders want to go.\r\n\r\nData has also been mixed this week causing uncertainty and making it quite difficult to do nothing else but scalp currencies.\r\n\r\nGERMAN:                  PPi was below expectations\r\nUNITED STATES:    Core CPi missed but CPi was in line with expectations.\r\nAUSTRALIAN:           CPi was in line with expectations.\r\nCANADIAN:               Core Retail Sales missed but Retail Sales beat.\r\nJAPAN:                       Flash Manufacturing PMi missed.\r\nCHINA:                       HSBC Flash Manufacturing beat expectations.\r\nGERMAN:                  IFO was below expectations.\r\nGERMAN:                  Flash Manufacturing and Services PMI beat expectations.\r\nFRENCH:                  Flash Manufacturing PMi missed.\r\nFRENCH:                  Services PMi beat expectations.\r\nSPANISH:                  Unemployment fell.\r\nEUROZONE:              Overall Manufacturing PMi missed expectations.\r\nEUROZONE:              Overall Services PMi beat expectations.\r\nUK:                              GDP in line with expectations, but Retail Sales missed.\r\nUNITED STATES:    New Home Sales and Manufacturing PMi data both missed.\r\nJAPAN:                       CPi in line.\r\nGERMAN:                  Business Confidence was below expectations.\r\nUNITED STATES:    Core and Durable Goods were both good numbers.\r\n\r\nLeading on from these numbers the ranges just got tighter as the week progressed and yesterday (Friday 25th) the USD flexed and USD strength came through the market leaving some very interesting weekly closes and daily candles.\r\n\r\nThe result of this USD strength is that this weekend, when the financial institutional “geeks” that look closely at the currency charts start looking at weekly closing levels and chart patterns, they may be recommending some target changes moving forward. Should this happen, to me, it suggests, it must a bias in the direction of strength in the USD. Time will tell and we should know very soon with early moves in particular from Europe this coming week.\r\n\r\nMoving on: -\r\n\r\nPresently, I have 9 live trades with 5 limit order entry trades in the background. As I have repeatedly stated all my position sizes are well within my RISK MANAGEMENT tolerances and in line with my TRADING PLAN entry and exit disciplines. PREMIUM SERVICE subscribers will be aware that I am adding to positions and taking profits off the table at the same time. I am making trades work for me as they progress, but I am also exercising so much additional patience waiting for moves to get momentum.\r\n\r\nI am holding trades as long as I can, because I feel fundamentally, that I am in the trade the right way and they are coming good but it takes time and patience. The USD/CAD, EUR/CAD and GBP/CAD long trades are very typical examples of waiting a few days for the moves to trigger.\r\n\r\nThe NZD/USD is the best example. I had two separate short trades in operation. The initial trade (RADAR TRADE RT118) started on 25<sup>th</sup> June, it was a 28 day trade in total. This trade is typical of the current market conditions. As you know II have been writing for sometime lower RISK EXPOSURE and be patient. During the 28 days of the trade I added to my position size once and I also took 50% of my profits off the table as well when the trade was live. The end result shown in the PREMIUM SERVICE spreadsheets was a 28 day trade that yielded just 3 pips profit. During the trade through adding and covering part of my position the overall net profit including overnight swap costs was just 25% of my normal return due to RISK MANAGEMENT regarding smaller position sizes.\r\n\r\nThis is the current Forex market and we have to adapt, as I have written about a few times over the past month or so.\r\n\r\n<strong> </strong>\r\n\r\n<strong>2. THE PREMIUM SERVICE – OVERVIEW &amp; UPDATE:</strong>\r\n\r\nAs you will be aware this week’s blog will be the last one until September 6<sup>th</sup> 2014.\r\n\r\nFor new readers, I refer to the PREMIUM SERVICE quite a lot for more details about what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next three / four weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n<p style=\"text-align: left; padding-left: 120px;\"><strong>DATES:          Saturday13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.</strong>\r\n<strong>VENUE:         Hampton Inn and Suites.</strong>\r\n<strong>ADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.</strong>\r\n<strong>TIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.</strong>\r\n<strong>TIMES:           Sunday - 2.30PM and 4.30PM.</strong></p>\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them.\r\n\r\n<strong> </strong><strong> </strong>\r\n\r\n<strong>3. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering this month so far and the year 2014 to date.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\"><img class=\"aligncenter size-full wp-image-4142\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/REM-SERV-PROFITS1-26072014.png\" alt=\"REM SERV PROFITS1 26072014\" width=\"447\" height=\"424\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\"><img class=\"aligncenter size-full wp-image-4143\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/PREM-SERV-PROFITS2-26072014.png\" alt=\"PREM SERV PROFITS2 26072014\" width=\"464\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown.\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n<strong> </strong>\r\n\r\n<strong>4. TRADING SUPPORT:</strong>\r\n<p style=\"text-align: center;\"><strong>FX BROKERS:\r\n</strong><strong>PART 2\r\n</strong><strong>HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS?</strong></p>\r\nThis is always an interesting topic when traders get together, maybe not so much as to how many broker relationships you have, but more in regard to who do you use as a broker? being a point of conversation.\r\n\r\nBelow I list what are the main conversation key subjects on almost every occasion, they are not always in this order, especially if someone has had a bad experience: -\r\n<ol>\r\n	<li>Account Management Support (Administration / Help Desk).</li>\r\n	<li>Pip Spreads.</li>\r\n	<li>Commissions in the spreads or separate…<strong>NOT</strong> both!!</li>\r\n	<li>Overnight swap rates</li>\r\n	<li>Execution Speeds.</li>\r\n	<li>Slippage.</li>\r\n	<li>Ease of transferring monies in and out of your trading account.</li>\r\n	<li>Training Materials.</li>\r\n	<li>Webinars.</li>\r\n	<li>Bonuses: Remember you do not get these for nothing. There are no free lunches; but shopping around you can get these as a Marketing incentive from time to time, without affecting spreads. Without marketing incentives, you can see outrageous rate spreads on even on the USD majors. Check around.</li>\r\n</ol>\r\nI have five broker relationships, two of which I use in conjunction with the PREMIUM SERVICE. My other brokers are not part of the PREMIUM SERVICE I use them for various types of trades, position style and sizes and for various currency pairs.\r\n\r\nWhy have more than one broker and how do I trade with more than one broker?\r\n\r\nI approach multiple broker relationships from two aspects: -\r\n\r\nFirstly, your Internet connection is paramount to enable you to trade. You should always have a backup facility at home to enable you to keep in touch with the market. This risk also applies to your broker – they can also have connectivity issues, therefore, I think that just in case your brokers’ connection locks or fails for whatever reason it is also wise to have a backup broker. On this point always have your brokers telephone numbers for dealing desks etc close at hand in case of emergencies.\r\n\r\nSecondly, from a trading perspective, many traders who trade with multiple brokers may have different reasons for more than one relationship but here are my reasons.\r\n<ol>\r\n	<li>I like to trade using MONEY MANAGEMENT disciplines that come from my detailed TRADING PLAN. I have written on many occasions in blogs and on Twitter PLAN YOUR TRADES and TRADE YOUR PLAN.Trading with multiple brokers gives me total flexibility, control and measurement of performance with my trading and from a RISK MANAGEMENT perspective I am still in 100% control and I am able to measure the effectiveness of my trading very easily.\r\n\r\nYou can of course achieve this from a single broker approach; however, I want to see instantaneously what returns I am achieving from different styles of trading. The multiple broker approach gives me this.</li>\r\n	<li>I decided in 2013 moving forward with my trading goals andobjectives that I would separate out different types of trades via different brokers so that I could instantly measure results from different trade styles, whilst still TRADING MY TRADE PLAN.As you are aware I trade three styles of trade: -\r\n\r\nFLASH TRADES: – Almost all of the time based on a pullback strategy, alternatively off a “Pivot Point”. They are most of the time intra-day trades but they can develop into swing trades.\r\n\r\nRADAR TRADES: - These tend to be based around much larger pullbacks that coincide with either Fibonacci levels or Pivot Points. These trades tend to be of at least a day or two maybe even a week in length, and, they could develop into longer-term trades.\r\n\r\nFUNDAMENTAL TRADES: - These trades are those that I see that Fundamental news will override the technical aspect of trading over the longer-term. These trades are typically very long term.</li>\r\n	<li>I then looked at my broker relationships and decided which broker fitted what type of trade style best and what currencies each broker is best to trade with.By breaking down my broker relationships by trading style this gave me an instant snapshot as to how my trade styles were progressing.\r\n\r\nSo I am able to split trade styles by broker and additionally trade specific currency pairs by broker.\r\n\r\nBelow is how I have split my broker relationships for 2014: -\r\n\r\nBROKER 1 = FUNDAMENTAL TRADES.\r\n(Using primarily multi MICRO lots, but also MINI lots)\r\n\r\nBROKERS 2 and 3 = RADAR TRADES.\r\n(Using all STANDARD, MINI and MICRO lots)\r\n\r\nBROKERS 4 and 5 = FLASH TRADES.\r\n(Using both STANDARD and MINI lots)</li>\r\n	<li>By being able to trade different styles with different brokers this meant that for longer term trades on the more volatile pairs I use a broker were they offerthe option of trading in MICRO LOTS. This means that I am able to trade multiple lots keep my flexibility on position sizes and accommodate the very large ATR’s (AVERAGE TRUE RANGES) and at the same time manage my risk within theparameters of my TRADING PLAN.By selecting an appropriate broker for a specific style of trade or currency pair enables focus and clarity when checking both, limit or open orders.</li>\r\n</ol>\r\n<ol start=\"5\">\r\n	<li>Broker relationships are crucial and lots of commentsare made about “rate spreads” and “swap rates overnight”. By not being tied into one single relationship you are able to compare performance and cost between suppliers. This not only keeps your brokers on their toes, because FX is now a very, very competitive business, but it enables you to visually see if you are you getting the best deal from each of your trading relationships.One thing that I have learnt is that many brokers tend to over promise and under deliver. By being able to view a wider range of brokers instantaneously one is able to keep up to date with events should one broker move spreads and the others do not follow suit.</li>\r\n</ol>\r\nOn my website I have the following brokers listed: -\r\n\r\nBLACKWELL GLOBAL\r\n\r\nFXCM\r\n\r\nI trade with both of them and they are completely different on rate spreads, swap rates, currency pairs that you can trade and basic account management support.\r\n\r\nIn addition I have my other broker connections (FX PRO, ALPARI and SAXO BANK) for specific types of trades and currencies. I trade on my two super fast computers with six screens, my MacBook air, iMac and iPad all the various Forex platforms; c/Trader, MT4 and now I am in a beta test on the new MT5 platform.\r\nAll platforms offer something different and the charting packages vary on complexity or ease of use.\r\n\r\nBut by using all of my brokers I can ensure that I am maximizing what each one can give me by way of performance. This is very useful and critical to the success of your trading, in my opinion.\r\n\r\n<strong>SUMMARY:</strong>\r\n\r\n“Brokers are an essential evil”, I read this at the outset of my trading experience seven years ago. I am not so sure they are evil but as with most things in life you pay for what you get. The good people that you interact with tend to stay at the good brokers and move away if the broker is not good. It takes very little time in most cases to see if a broker is good or not at meeting your most basic needs. Take your time and shop around.\r\n\r\nTrading multiple brokers may not be your thing. However, if you are a PREMIUM SERVICE subscriber you may want to keep these trades separate from your own and measure performance and cost effectiveness. I use multiple brokers to break my Forex trading even further into trade types. It depends on your needs and wants if you want to drill down to that level.\r\n\r\nThis works for me. It may not for you, but the cost of trying to see if it might work for you is not that great.\r\n\r\nShould you want to try an additional broker all you have to do is click on any of the broker “Banners” on my web site and you will be taken to an application form to complete. You could even open a demo account first to check that you can get comfortable with the platform if it unfamiliar to you.\r\n\r\nIf you have any questions about this article please contact me on email at premiumservice@weeklyfxdrivethru.com\r\n\r\n<strong> </strong>\r\n\r\n<strong>5. LOOKING FORWARD…THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:</strong>\r\n\r\n<strong>EUR/USD: Closing Price 1.3429.</strong> The EUR/USD closed the week very close to its lowest level of the week, which was at 1.3421. I think that it is safe to say that the bears are now in control. Looking at charts there really isn’t much by the way of support until we hit 1.3380. The bear flag formation that I have tweeted and posted shows a measured move objective of about 1.3250. This is my initial target, it may not be a straight one way decline over the next few sessions but in my opinion once below 1.3380, it\'s a question of when we hit 1.3250 not if. Looking upwards, resistance is at 1.3480.\r\n\r\n<strong>GBP/USD: Closing Price 1.6974</strong>. The cable continues to follow the EUR/USD lower. Carney’s bullsh*t address at the Lord Mayor of London’s Mansion House dinner was complete bullsh*t. He has backtracked at almost every opportunity ever since and data from the UK has been mixed to say the least. Whilst, the GBP/USD still has an upward look about it on the longer-term charts, at 1.6950 we hit very important previous candlestick tops on the charts. If this level holds and we bounce the uptrend remains intact, if not we definitely turn bearish in my opinion. Resistance is back at 1.7020.\r\n\r\n<strong>AUD/USD: Closing Price 0.9394</strong>. Virtually unchanged in the past week, once again that’s two weeks back to back with no real move. The range is tight at 0.9320 to 0.9460.\r\n\r\n<strong>NZD/USD: Closing Price 0.8553</strong>. Graeme Wheeler, the RBNZ governor must be sleeping easier and I would imagine he did the Lotto after the rate announcement last Wednesday because he increased rates as promised and the NZD pulled back. The announcement of basically “We’re done with rate hikes” was enough for the future / forward pricing Forex markets to halt the climb and pull back. Wheeler also really emphasized that the Kiwi is way over-valued and should be substantially lower. There it is….. the next guessing game with the NZD is now in play. How low should it go? If you recall Wheeler first started talking the pair down around 0.8000. In my opinion I think the RBNZ are looking at between 0.7600 and 0.7800. To get to these levels would in my opinion require either substantial help from the USD strengthening beyond belief and the equity markets pulling back with a 20% correction. Failing these actions, the RBNZ would need to do more than just verbal intervention. For now my trading range to look at is from 0.8500 to 0.8640.\r\n\r\n<strong>USD/CAD: Closing Price 1.0803.</strong> A very nice breakout to the upside, and as I am long nearly all CAD pairs I am very happy. The range is now 1.0750 to 1.0875.\r\n\r\n<strong>USD/CHF: Closing Price 0.9045</strong>. I missed my opportunity to establish a long position with this pair although it is on my TRADES ON MY RADAR list. I see 0.900 to 0.9085 as the immediate range to look at.\r\n\r\n<strong>USD/JPY: Closing Price 101.75. </strong>I am now short this pair and in 24 hours I have seen a 25 pip trading range. Yes…. Summer is here. The range that I am looking at is 101.50 to 102.25.\r\n\r\n<strong> </strong>\r\n\r\n<strong>6. MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</strong><strong> </strong>\r\n\r\nSUNDAY: N/A.\r\n\r\nMONDAY: N/A\r\n\r\nTUESDAY: N/A.\r\n\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change, GDP &amp; FOMC.\r\n\r\nTHURSDAY: CAD - GDP.\r\nTHURSDAY: CNY – Manufacturing PMi.\r\nTHURSDAY: AUD - PPi.\r\n\r\nFRIDAY: GBP – Manufacturing PMi.\r\nFRIDAY: USD – Non-Farm Employment Change and Unemployment Rate.\r\nFRIDAY: USD – ISM Manufacturing PMi.\r\n\r\n<strong> </strong>\r\n\r\n<strong>7. FINAL THOUGHTS:</strong>\r\n\r\nThis is the final WEEKLY FX DRIVE THRU until 6<sup>th</sup> September. I am around next week on twitter and my DAILY FX POSTS will run until the end of the week. As I have written and tweeted across both twitter accounts for quite sometime we have been in the depths of the summer doldrums for quite sometime and frankly, trading in the summer is boring and at the same time it involves more risk because the markets are less liquid. It just makes sense from my perspective to take a break.\r\n\r\nIf you one of many traders that cannot stop and are 100% totally addicted, please take it easy on trade position sizes and bear in mind that markets will be less financially supported until mid-September at the earliest. Always, PLAN YOUR TRADES and TRADE YOUR PLAN regardless of market activity, in addition continue to exercise TRADING DISCIPLINE and do <strong>NOT</strong> FORCE TRADES as the chances are you run a much higher risk than normal of being caught out on the wrong side.\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday July 26th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','FX BROKERS (PART 2) - HOW AND WHY DO I TRADE WITH MULTIPLE FX BROKER ACCOUNTS ?','','inherit','open','closed','','4158-revision-v1','','','2014-07-26 11:45:40','2014-07-26 16:45:40','',4158,'https://weeklyfxdrivethru.com/4158-revision-v1/',0,'revision','',0),(4162,1,'2014-07-28 07:25:17','2014-07-28 12:25:17','Good Day,\r\n\r\nI hoe you all had a great weekend.\r\n\r\nMarkets are very quiet through the Asian and European sessions. The EUR/USD has been in 15 pip trading range.....\r\n\r\nI have 8 LIVE trades at present with 4 limit order entry trades not yet triggered. This week we have a FED statement, ADP and NFP. Big potentially market moving news events. It should therefore come as no surprise that I will reducing my risk exposure ahead of these data releases. I am also away in Saratoga Springs tomorrow for a working lunch, so I will not be around at all until about 6.00PM EDT, which means i will either start removing risk today through to tomorrows European session or wait until the early morning North American session on Wednesday. You will see what I have decided to do, by the tweeting action. I will probably start removing risk today and bank $$$...what is the point of  risking some good profitable trades?\r\n\r\nOvernight I added to my EUR/USD short. I also removed profits from this trade as well. I also added to my NZD/USD short. My cost averages are moving lower as result but in a range trading environment I am trying to maximize the $$ opportunities available.\r\n\r\nI have just deleted a USD/NOK chart (240 Minutes) with a trade off a re-test of trend line support. I just had to delete it as the trades imploded. There is a secondary trade that I am now looking at and should it be valid I will tweet chart and trade set-up.\r\n\r\nThis week if you have a lot of exposure to trades, I think it would be a sound policy to review the RISK that you have, tightening stops, but on major news they can be passed before getting filled.  Bank $$$ MANAGE RISK is my approach.\r\n\r\nI will tweet my thoughts and actions as the day progresses.\r\n\r\nGood Luck,\r\n\r\nScott','#76 - THE DAILY FX POST, Monday 28th July 2014','','publish','open','closed','','76-daily-fx-post-monday-28th-july-2014','','','2014-07-28 07:25:17','2014-07-28 12:25:17','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4162',0,'member_posts','',0),(4163,1,'2014-07-28 06:33:09','2014-07-28 11:33:09','Good Day,\r\n\r\nI hoe you all had a great weekend.\r\n\r\nMarkets are very quiet through the Asian and European sessions. The EUR/USD has been in 15 pip trading range.....\r\n\r\nI have 8 LIVE trades at the present time with 4 limit order entry trades not yet triggered. This week we have a FED statement, ADP and NFP. Big potentially market moving news events.','#76 - THE DAILY FX POST, Monday 28th July 2014','','inherit','open','closed','','4162-revision-v1','','','2014-07-28 06:33:09','2014-07-28 11:33:09','',4162,'https://weeklyfxdrivethru.com/4162-revision-v1/',0,'revision','',0),(4165,1,'2014-07-28 07:24:50','2014-07-28 12:24:50','Good Day,\r\n\r\nI hoe you all had a great weekend.\r\n\r\nMarkets are very quiet through the Asian and European sessions. The EUR/USD has been in 15 pip trading range.....\r\n\r\nI have 8 LIVE trades at present with 4 limit order entry trades not yet triggered. This week we have a FED statement, ADP and NFP. Big potentially market moving news events. It should therefore come as no surprise that I will reducing my risk exposure ahead of these data releases. I am also away in Saratoga Springs tomorrow for a working lunch, so I will not be around at all until about 6.00PM EDT, which means i will either start removing risk today through to tomorrows European session or wait until the early morning North American session on Wednesday. You will see what I have decided to do, by the tweeting action. I will probably start removing risk today and bank $$$...what is the point of  risking some good profitable trades?\r\n\r\nOvernight I added to my EUR/USD short. I also removed profits from this trade as well. I also added to my NZD/USD short. My cost averages are moving lower as result but in a range trading environment I am trying to maximize the $$ opportunities available.\r\n\r\nI have just deleted a USD/NOK chart (240 Minutes) with a trade off a re-test of trend line support. I just had to delete it as the trades imploded. There is a secondary trade that I am now looking at and should it be valid I will tweet chart and trade set-up.\r\n\r\nThis week if you have a lot of exposure to trades, I think it would be a sound policy to review the RISK that you have, tightening stops, but on major news they can be passed before getting filled.  Bank $$$ MANAGE RISK is my approach.\r\n\r\nI will tweet my thoughts and actions as the day progresses.\r\n\r\nGood Luck,\r\n\r\nScott','#76 - THE DAILY FX POST, Monday 28th July 2014','','inherit','open','closed','','4162-revision-v1','','','2014-07-28 07:24:50','2014-07-28 12:24:50','',4162,'https://weeklyfxdrivethru.com/4162-revision-v1/',0,'revision','',0),(4166,1,'2014-07-30 07:07:53','2014-07-30 12:07:53','Good Day,\r\n\r\nGood to be back after a very long day traveling yesterday with two big meetings thrown in for good measure.\r\n\r\nUSD strength still uppermost on my mind. I have adjusted stops on EUR/USD short to 0.1.3415 and took profits off my NZD/USD short and move my stop to  0.8530. These trades will now either survive ADP and GDP or they won\'t. I want to be out of most LIVE trades ahead of the FED this afternoon.\r\n\r\nI am only keeping the GBP/NZD and GBP/AUD longs open they are longer-term FUNDAMENTAL TRADES that I do want to keep open.\r\n\r\nI am NOT really looking to add high risk this morning prior to the FED this afternoon (my times), if I do they will quick scalping FLASH TRADES.\r\n\r\nBe very careful with any trades you have open, protect your profits effectively with your stops.\r\n\r\nThe Nordic\'s are looking strong USD/NOK and USD/SEK if you jumped in these earlier well done, I missed them, they are both in break out territory.\r\n\r\nI will tweet as the day progresses,\r\n\r\nScott','#77 - THE DAILY FX POST, Wednesday July 30th 2014','','publish','open','closed','','77-daily-fx-post-wednesday-july-30th-2014','','','2014-07-30 07:07:53','2014-07-30 12:07:53','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4166',0,'member_posts','',0),(4167,1,'2014-07-30 07:07:53','2014-07-30 12:07:53','Good Day,\r\n\r\nGood to be back after a very long day traveling yesterday with two big meetings thrown in for good measure.\r\n\r\nUSD strength still uppermost on my mind. I have adjusted stops on EUR/USD short to 0.1.3415 and took profits off my NZD/USD short and move my stop to  0.8530. These trades will now either survive ADP and GDP or they won\'t. I want to be out of most LIVE trades ahead of the FED this afternoon.\r\n\r\nI am only keeping the GBP/NZD and GBP/AUD longs open they are longer-term FUNDAMENTAL TRADES that I do want to keep open.\r\n\r\nI am NOT really looking to add high risk this morning prior to the FED this afternoon (my times), if I do they will quick scalping FLASH TRADES.\r\n\r\nBe very careful with any trades you have open, protect your profits effectively with your stops.\r\n\r\nThe Nordic\'s are looking strong USD/NOK and USD/SEK if you jumped in these earlier well done, I missed them, they are both in break out territory.\r\n\r\nI will tweet as the day progresses,\r\n\r\nScott','#77 - THE DAILY FX POST, Wednesday July 30th 2014','','inherit','open','closed','','4166-revision-v1','','','2014-07-30 07:07:53','2014-07-30 12:07:53','',4166,'https://weeklyfxdrivethru.com/4166-revision-v1/',0,'revision','',0),(4168,1,'2014-07-31 07:37:02','2014-07-31 12:37:02','Good Day everyone,\r\n\r\nOne thing that you can guarantee yourselves is that as of today I am on break until September 1st, so that means that from now until then, there will be some increased volatility and no doubt in my mind that it will probably be 100% directional as well.\r\n\r\nI am looking at charts and the USD is really picking up strength. The pressure charts have never looked so directional for months.\r\n\r\nI go on vacation with two live FUNDAMENTAL trades in play: -\r\n\r\nGBP/NZD long currently +82 pips\r\nGBP/AUD long currently -45 pips\r\n(Both of these trades are automatically hedged at -100 pips)\r\n\r\nI know quite a lot of you are already have wound down your trading activity and some of you are stopping today like myself. I must admit when you look at charts there are some interesting levels to mention just in case you are trading thru the summer.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span> Key support at 1.3370. If this level breaks I think that the flag pattern measured move to 1.3250 will be hit. At that level we will be well oversold with this currency if it moves as fast as I think it will and therefore at 1.3250 we may see a bounce.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/USD:</strong></span><strong> </strong> Like the EUR/USD they key support in cable lies not from present levels at 1.6850. Personally, I think that this pair is no longer bullish, in fact I see a movie lower now towards 1.6500.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/GBP:</strong></span> This pair I think is in danger of a squeeze higher given what my thoughts are if the EUR/USD and GBP/USD both fall quite aggressively. We are in a daily bearish wedge and most times the reversal from this pattern is strong. We could see an upside move from 0.7900 towards 0.8000 quite easily and swiftly.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>AUD/USD</strong></span>: We continue to fall and the next target is around 0.9250.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NZD/USD:</strong></span> The  cross rate effect of the AUD/NZD is preventing this pair from continuing its fall. I think that should the NZD/USD drop below 0.8460 there are big stopping points until 0.8000.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>AUD/NZD</strong></span>: This pair is pulling back and influencing both the AUD/USD and NZD/USD. To me it looks like we are going to get a GAP FILL to 1.0850. This would be a reasonable level to get long.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/CAD:</strong></span>  I think that should this pair move above 1.0955. We should be above 1.1000 quite quickly. Below 1.0850 and it becomes bearish.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/CHF:</strong></span>  If the EUR/USD falls this pair could be set up for a move towards 0.9400. 0.9250 is the major hurdle on the way.\r\n\r\n&nbsp;\r\n\r\nI know that the above is  future determined by USD strength and EUR failure that is what I am looking at the moment. European markets are under pressure especially the DAX, there are support levels on the verge of giving way. Should this happen this will affect U.S. equities and place more strength on the USD.\r\n\r\nNFP will be so critical for the above to happen.\r\n\r\nI also think that the commodity crosses look  like they want to move higher: - EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD.\r\n\r\nThe backdrop is though we are surrounded by very slow moving markets with false breakouts / breakdowns, so if anything tempts you to stay trading make it a small position with a wide stop.\r\n\r\nHave fun for the next few weeks but try not to get suckered into trades.\r\n\r\nI will be on twitter here and there throughout the summer and still open for emails although I may be out and about so be patient do not expect a fast response.\r\n\r\nScott\r\n\r\n&nbsp;','#78 - THE DAILY FX POST, Thursday 31st July 2014','','publish','open','closed','','78-daily-fx-post-thursday-31st-july-2014','','','2014-07-31 07:37:02','2014-07-31 12:37:02','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=4168',0,'member_posts','',0),(4169,1,'2014-07-31 06:31:38','2014-07-31 11:31:38','Good Day everyone,','#78 - THE DAILY FX POST, Thursday 31st July 2014','','inherit','open','closed','','4168-revision-v1','','','2014-07-31 06:31:38','2014-07-31 11:31:38','',4168,'https://weeklyfxdrivethru.com/4168-revision-v1/',0,'revision','',0),(4170,1,'2014-07-31 07:36:48','2014-07-31 12:36:48','Good Day everyone,\r\n\r\nOne thing that you can guarantee yourselves is that as of today I am on break until September 1st, so that means that from now until then, there will be some increased volatility and no doubt in my mind that it will probably be 100% directional as well.\r\n\r\nI am looking at charts and the USD is really picking up strength. The pressure charts have never looked so directional for months.\r\n\r\nI go on vacation with two live FUNDAMENTAL trades in play: -\r\n\r\nGBP/NZD long currently +82 pips\r\nGBP/AUD long currently -45 pips\r\n(Both of these trades are automatically hedged at -100 pips)\r\n\r\nI know quite a lot of you are already have wound down your trading activity and some of you are stopping today like myself. I must admit when you look at charts there are some interesting levels to mention just in case you are trading thru the summer.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/USD:</strong></span> Key support at 1.3370. If this level breaks I think that the flag pattern measured move to 1.3250 will be hit. At that level we will be well oversold with this currency if it moves as fast as I think it will and therefore at 1.3250 we may see a bounce.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>GBP/USD:</strong></span><strong> </strong> Like the EUR/USD they key support in cable lies not from present levels at 1.6850. Personally, I think that this pair is no longer bullish, in fact I see a movie lower now towards 1.6500.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>EUR/GBP:</strong></span> This pair I think is in danger of a squeeze higher given what my thoughts are if the EUR/USD and GBP/USD both fall quite aggressively. We are in a daily bearish wedge and most times the reversal from this pattern is strong. We could see an upside move from 0.7900 towards 0.8000 quite easily and swiftly.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>AUD/USD</strong></span>: We continue to fall and the next target is around 0.9250.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>NZD/USD:</strong></span> The  cross rate effect of the AUD/NZD is preventing this pair from continuing its fall. I think that should the NZD/USD drop below 0.8460 there are big stopping points until 0.8000.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>AUD/NZD</strong></span>: This pair is pulling back and influencing both the AUD/USD and NZD/USD. To me it looks like we are going to get a GAP FILL to 1.0850. This would be a reasonable level to get long.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/CAD:</strong></span>  I think that should this pair move above 1.0955. We should be above 1.1000 quite quickly. Below 1.0850 and it becomes bearish.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>USD/CHF:</strong></span>  If the EUR/USD falls this pair could be set up for a move towards 0.9400. 0.9250 is the major hurdle on the way.\r\n\r\n&nbsp;\r\n\r\nI know that the above is  future determined by USD strength and EUR failure that is what I am looking at the moment. European markets are under pressure especially the DAX, there are support levels on the verge of giving way. Should this happen this will affect U.S. equities and place more strength on the USD.\r\n\r\nNFP will be so critical for the above to happen.\r\n\r\nI also think that the commodity crosses look  like they want to move higher: - EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD.\r\n\r\nThe backdrop is though we are surrounded by very slow moving markets with false breakouts / breakdowns, so if anything tempts you to stay trading make it a small position with a wide stop.\r\n\r\nHave fun for the next few weeks but try not to get suckered into trades.\r\n\r\nI will be on twitter here and there throughout the summer and still open for emails although I may be out and about so be patient do not expect a fast response.\r\n\r\nScott\r\n\r\n&nbsp;','#78 - THE DAILY FX POST, Thursday 31st July 2014','','inherit','open','closed','','4168-revision-v1','','','2014-07-31 07:36:48','2014-07-31 12:36:48','',4168,'https://weeklyfxdrivethru.com/4168-revision-v1/',0,'revision','',0),(4181,1,'2014-08-02 11:30:02','2014-08-02 16:30:02','<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>A COMPREHENSIVE\r\nREVIEW\r\nOF THE\r\nPREMIUM SERVICE PERFORMANCE\r\nYEAR TO DATE 31<sup>st</sup> July 2014</strong></span></p>\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6<sup>th</sup> 2014.\r\n\r\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\r\n\r\nBelow I publish all the spreadsheets related to July’s performance. These are only usually available to subscribers, but I thought today it would helpful to readers considering  joining the PREMIUM SERVICE.\r\n<ol>\r\n	<li>RADAR TRADES – July performance.</li>\r\n	<li>FLASH TRADES – July performance.</li>\r\n	<li>FUNDAMENTAL TRADES – July performance.You will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.</li>\r\n	<li>RADAR TRADES – year to date performance.</li>\r\n	<li>FLASH TRADES – year to date performance.</li>\r\n	<li>FUNDAMENTAL TRADES – year to date performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – July performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – year to date performance.</li>\r\n	<li>PREMIUM SERVICE as at 31<sup>st</sup> July 2014 – <strong>Net $$$ profits</strong> performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>2. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RADAR TRADES – July performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\"><img class=\"aligncenter size-full wp-image-4173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\" alt=\"RADAR1 31072014\" width=\"536\" height=\"469\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\"><img class=\"aligncenter size-full wp-image-4174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\" alt=\"RADAR2 31072014\" width=\"536\" height=\"474\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FLASH TRADES – July performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\"><img class=\"aligncenter size-full wp-image-4175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\" alt=\"FLASH1 31072014\" width=\"487\" height=\"482\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\"><img class=\"aligncenter size-full wp-image-4176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\" alt=\"FLASH2 31072014\" width=\"487\" height=\"481\" /></a>\r\n\r\n<strong>FUNDAMENTAL TRADES – July performance.</strong>\r\n\r\n<strong>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\"><img class=\"aligncenter size-full wp-image-4177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\" alt=\"FUNDAMENTAL 31072014\" width=\"483\" height=\"508\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\">\r\n</a>\r\n</strong><strong>RADAR TRADES – year to date performance.</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\" alt=\"RADAR YTDJULY\" width=\"346\" height=\"360\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES – year to date performance.</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\" alt=\"FLASH YTDJULY\" width=\"338\" height=\"358\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – year to date performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\"><img class=\"aligncenter size-full wp-image-4180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\" alt=\"FUNDAMENTAL YTD JULY31\" width=\"343\" height=\"355\" /></a>\r\n\r\n<strong>COMBINED TRADING SUMMARY – July performance.</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\"><img class=\"aligncenter size-full wp-image-4171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\" alt=\"PREM SERV PROFITS1 31072014\" width=\"446\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – year to date performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\"><img class=\"aligncenter size-full wp-image-4172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\" alt=\"PREM SERV PROFITS2 31072014\" width=\"457\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<strong>3. FINAL THOUGHTS:</strong>\r\n\r\nBelow is my favourite excel spreadsheet chart.\r\n\r\nThis shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one-off “MARKETING BONUS” upon acceptance.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\"><img class=\"aligncenter size-full wp-image-4183\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\" alt=\"PREM SERV NET PROFIT CALCS  AS AT 31072014\" width=\"533\" height=\"567\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday 13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\n\r\nVENUE:         Hampton Inn and Suites.\r\n\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\n\r\nSunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!\r\n\r\n&nbsp;\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday August 2nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','A COMPREHENSIVE PREMIUM SERVICE 2014 REVIEW','','publish','open','closed','','premium-service-data-year-date-31st-july-2014','','','2014-08-02 11:30:02','2014-08-02 16:30:02','',0,'https://weeklyfxdrivethru.com/?p=4181',0,'post','',0),(4182,1,'2014-08-02 10:21:23','2014-08-02 15:21:23','','PREMIUM SERVICE DATA YEAR TO DATE 31st July 2014','','inherit','open','closed','','4181-revision-v1','','','2014-08-02 10:21:23','2014-08-02 15:21:23','',4181,'https://weeklyfxdrivethru.com/4181-revision-v1/',0,'revision','',0),(4185,1,'2014-08-02 11:30:02','2014-08-02 16:30:02','<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>A COMPREHENSIVE\r\nREVIEW\r\nOF THE\r\nPREMIUM SERVICE PERFORMANCE\r\nYEAR TO DATE 31<sup>st</sup> July 2014</strong></span></p>\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6<sup>th</sup> 2014.\r\n\r\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\r\n\r\nBelow I publish all the spreadsheets related to July’s performance. These are only usually available to subscribers, but I thought today it would helpful to readers considering  joining the PREMIUM SERVICE.\r\n<ol>\r\n	<li>RADAR TRADES – July performance.</li>\r\n	<li>FLASH TRADES – July performance.</li>\r\n	<li>FUNDAMENTAL TRADES – July performance.You will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.</li>\r\n	<li>RADAR TRADES – year to date performance.</li>\r\n	<li>FLASH TRADES – year to date performance.</li>\r\n	<li>FUNDAMENTAL TRADES – year to date performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – July performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – year to date performance.</li>\r\n	<li>PREMIUM SERVICE as at 31<sup>st</sup> July 2014 – <strong>Net $$$ profits</strong> performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>2. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RADAR TRADES – July performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\"><img class=\"aligncenter size-full wp-image-4173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\" alt=\"RADAR1 31072014\" width=\"536\" height=\"469\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\"><img class=\"aligncenter size-full wp-image-4174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\" alt=\"RADAR2 31072014\" width=\"536\" height=\"474\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FLASH TRADES – July performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\"><img class=\"aligncenter size-full wp-image-4175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\" alt=\"FLASH1 31072014\" width=\"487\" height=\"482\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\"><img class=\"aligncenter size-full wp-image-4176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\" alt=\"FLASH2 31072014\" width=\"487\" height=\"481\" /></a>\r\n\r\n<strong>FUNDAMENTAL TRADES – July performance.</strong>\r\n\r\n<strong>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\"><img class=\"aligncenter size-full wp-image-4177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\" alt=\"FUNDAMENTAL 31072014\" width=\"483\" height=\"508\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\">\r\n</a>\r\n</strong><strong>RADAR TRADES – year to date performance.</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\" alt=\"RADAR YTDJULY\" width=\"346\" height=\"360\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES – year to date performance.</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\" alt=\"FLASH YTDJULY\" width=\"338\" height=\"358\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – year to date performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\"><img class=\"aligncenter size-full wp-image-4180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\" alt=\"FUNDAMENTAL YTD JULY31\" width=\"343\" height=\"355\" /></a>\r\n\r\n<strong>COMBINED TRADING SUMMARY – July performance.</strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\"><img class=\"aligncenter size-full wp-image-4171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\" alt=\"PREM SERV PROFITS1 31072014\" width=\"446\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – year to date performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\"><img class=\"aligncenter size-full wp-image-4172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\" alt=\"PREM SERV PROFITS2 31072014\" width=\"457\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<strong>3. FINAL THOUGHTS:</strong>\r\n\r\nBelow is my favourite excel spreadsheet chart.\r\n\r\nThis shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one-off “MARKETING BONUS” upon acceptance.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\"><img class=\"aligncenter size-full wp-image-4183\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\" alt=\"PREM SERV NET PROFIT CALCS  AS AT 31072014\" width=\"533\" height=\"567\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday 13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\n\r\nVENUE:         Hampton Inn and Suites.\r\n\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\n\r\nSunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!\r\n\r\n&nbsp;\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday August 2nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','A COMPREHENSIVE PREMIUM SERVICE 2014 REVIEW','','inherit','open','closed','','4181-revision-v1','','','2014-08-02 11:30:02','2014-08-02 16:30:02','',4181,'https://weeklyfxdrivethru.com/4181-revision-v1/',0,'revision','',0),(4184,1,'2014-08-02 11:27:35','2014-08-02 16:27:35','<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>A COMPREHENSIVE\r\nREVIEW\r\nOF THE\r\nPREMIUM SERVICE PERFORMANCE\r\nYEAR TO DATE 31<sup>st</sup> July 2014</strong></span></p>\r\n<p style=\"text-align: center;\"></p>\r\n<strong>1. INTRODUCTION:</strong>\r\n\r\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6<sup>th</sup> 2014.\r\n\r\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\r\n\r\nBelow I published all the spreadsheets related to July’s performance. These are only usually available to subscribers but I thought today it would helpful in making a decision to any readers considering joining the PREMIUM SERVICE.\r\n<ol>\r\n	<li>RADAR TRADES – July performance.</li>\r\n	<li>FLASH TRADES – July performance.</li>\r\n	<li>FUNDAMENTAL TRADES – July performance.\r\n\r\nYou will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.</li>\r\n	<li>RADAR TRADES – year to date performance.</li>\r\n	<li>FLASH TRADES – year to date performance.</li>\r\n	<li>FUNDAMENTAL TRADES – year to date performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – July performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – year to date performance.</li>\r\n	<li>PREMIUM SERVICE as at 31<sup>st</sup> July 2014 – <strong>Net $$$ profits</strong> performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<strong>2. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\r\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\r\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\r\n<p style=\"text-align: left;\">\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\r\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\r\n\r\n<span style=\"text-decoration: underline;\"><strong>RADAR TRADES – July performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\"><img class=\"aligncenter size-full wp-image-4173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\" alt=\"RADAR1 31072014\" width=\"536\" height=\"469\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\"><img class=\"aligncenter size-full wp-image-4174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\" alt=\"RADAR2 31072014\" width=\"536\" height=\"474\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FLASH TRADES – July performance.</strong></span>\r\n\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\"><img class=\"aligncenter size-full wp-image-4175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\" alt=\"FLASH1 31072014\" width=\"487\" height=\"482\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\"><img class=\"aligncenter size-full wp-image-4176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\" alt=\"FLASH2 31072014\" width=\"487\" height=\"481\" /></a>\r\n\r\n<strong>FUNDAMENTAL TRADES – July performance.</strong>\r\n\r\n<strong>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\"><img class=\"aligncenter size-full wp-image-4177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\" alt=\"FUNDAMENTAL 31072014\" width=\"483\" height=\"508\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\">\r\n</a>\r\n</strong><strong>RADAR TRADES – year to date performance.</strong>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\" alt=\"RADAR YTDJULY\" width=\"346\" height=\"360\" /></a>\r\n\r\n&nbsp;\r\n\r\n<strong>FLASH TRADES – year to date performance.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\" alt=\"FLASH YTDJULY\" width=\"338\" height=\"358\" /></a>\r\n</strong>\r\n\r\n<span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – year to date performance.\r\n\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\"><img class=\"aligncenter size-full wp-image-4180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\" alt=\"FUNDAMENTAL YTD JULY31\" width=\"343\" height=\"355\" /></a>\r\n</strong></span>\r\n\r\n<strong>COMBINED TRADING SUMMARY – July performance.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\"><img class=\"aligncenter size-full wp-image-4171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\" alt=\"PREM SERV PROFITS1 31072014\" width=\"446\" height=\"422\" /></a></strong>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – year to date performance.</strong></span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\"><img class=\"aligncenter size-full wp-image-4172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\" alt=\"PREM SERV PROFITS2 31072014\" width=\"457\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<strong>3. FINAL THOUGHTS:</strong>\r\n\r\nBelow is my favourite excel spreadsheet chart. This shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one off “MARKETING BONUS” upon acceptance.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\"><img class=\"aligncenter size-full wp-image-4183\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\" alt=\"PREM SERV NET PROFIT CALCS  AS AT 31072014\" width=\"533\" height=\"567\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n<ol>\r\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” will provide additional information)\r\n\r\nand / or</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\r\n</ol>\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES:          Saturday 13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\r\n\r\nVENUE:         Hampton Inn and Suites.\r\n\r\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\r\n\r\nSunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!\r\n\r\n&nbsp;\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday August 2nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong> </strong>','A COMPREHENSIVE PREMIUM SERVICE 2014 REVIEW','','inherit','open','closed','','4181-revision-v1','','','2014-08-02 11:27:35','2014-08-02 16:27:35','',4181,'https://weeklyfxdrivethru.com/4181-revision-v1/',0,'revision','',0),(4193,16,'2014-08-12 09:51:38','2014-08-12 14:51:38','<h2>EARN THE EQUIVALENT OF US$295.00 PER REFERRAL</h2>\r\nMany existing subscribers have written to me telling me that they have mentioned the PREMIUM SERVICE and the added value that it offers, when speaking to their circles of friends or fellow traders.\r\n\r\nI have of course been extremely grateful for these comments and actions.\r\n\r\nI wanted to come through with an incentive to reward those subscribers who refer the PREMIUM SERVICE as it is much appreciated; therefore I have decided to introduce a PREMIUM SERVICE REFERRAL PROGRAMME, this is only available to subscribers of the GOLD MEMBER subscriber level.\r\n<h4>How does it work?</h4>\r\nEvery time an existing PREMIUM SERVICE GOLD member subscriber introduces a friend, colleague or fellow trader to the PREMIUM SERVICE, I will add an additional 10 weeks to the referring subscribers membership period. This is the equivalent of a $295.00 value.\r\n\r\nThere are no limits to the numbers of those that can be introduced.\r\n<h4>How to claim your subscription extension</h4>\r\n<div class=\"kicker-three\">Write to me at\r\n<div class=\"btn\"><a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a></div>\r\nprovide me with your details and the name(s) and email address(s) of the person or persons that you have you have introduced.\r\n\r\n</div>\r\nVery simple…very straightforward….very easy.\r\n\r\nI will write back to you and confirm your revised subscription expiry date.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\n\r\n<span style=\"text-decoration: underline;\"><strong>PLEASE NOTE:</strong></span>\r\n\r\nThis is ONLY available on GOLD MEMBER STATUS.','PREMIUM SERVICE (GOLD SUBSCRIBER) REFERRAL PROGRAMME','','publish','open','closed','','premium-service-referral-programme','','','2015-04-29 05:02:10','2015-04-29 10:02:10','',0,'https://weeklyfxdrivethru.com/?page_id=4193',0,'page','',0),(4194,16,'2014-08-12 09:51:38','2014-08-12 14:51:38','<h2>EARN THE EQUIVALENT OF US$150.00 PER REFERRAL</h2>\r\n\r\n\r\nMany existing subscribers have written to me telling me that they have mentioned the PREMIUM SERVICE and the added value that it offers, when speaking to their circles of friends or fellow traders.\r\n\r\nI have of course been extremely grateful for these comments and actions.\r\n\r\nI wanted to come through with an incentive to reward those subscribers who refer the PREMIUM SERVICE as it is much appreciated; therefore I have decided to introduce a PREMIUM SERVICE REFERRAL PROGRAMME\r\n\r\n<h4>How does it work?</h4>\r\n\r\nEvery time an existing subscriber introduces a friend, colleague or fellow trader to the PREMIUM SERVICE I will add an additional 10 weeks to the referring subscribers membership period. This is the equivalent of a $150.00 value.\r\n\r\nThere are no limits to the numbers of those that can be introduced.\r\n\r\n<h4>How to claim your subscription extension </h4>\r\n<div class=\"kicker-three\">\r\nWrite to me at <div class=\"btn\"><a href=\"mailto:premiumservice@weeklyfxdrivethru.com\">premiumservice@weeklyfxdrivethru.com</a></div> provide me with your details and the name(s) and email address(s) of the person or persons that you have you have introduced.\r\n</div>\r\n\r\nVery simple…very straightforward….very easy.\r\n\r\nI will write back to you and confirm your revised subscription expiry date. \r\n\r\n\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSeptember 2014\r\n','PREMIUM SERVICE REFERRAL PROGRAMME','','inherit','open','closed','','4193-revision-v1','','','2014-08-12 09:51:38','2014-08-12 14:51:38','',4193,'https://weeklyfxdrivethru.com/4193-revision-v1/',0,'revision','',0),(6869,16,'2015-11-27 14:19:57','2015-11-27 19:19:57','<section class=\"one-sixth first\">\r\n<h4>PIP PERFORMANCE YEAR BY YEAR Archives:</h4>\r\n</section><section class=\"five-sixths\">\r\n<div>\r\n<h2>2017 v 2016\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PIP-COMPARISONS-JAN2017.png\"><img class=\"aligncenter size-large wp-image-9054\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/PIP-COMPARISONS-JAN2017-1024x811.png\" alt=\"\" width=\"1024\" height=\"811\" /></a></h2>\r\n<h2></h2>\r\n<h2></h2>\r\n<h2></h2>\r\n<h2>2016 v 2015\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE.png\"><img class=\"aligncenter size-large wp-image-8816\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2016/12/PIP-COMPARISON-2016-COMPLETE-1024x615.png\" alt=\"\" width=\"1024\" height=\"615\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div>\r\n<h2>2015 v 2014</h2>\r\n<img class=\"aligncenter wp-image-6992\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/12/PIP-COMP-2015-v-2014-COMP.png\" alt=\"PIP COMP 2015 v 2014 COMP\" width=\"1059\" />\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>','PIP PERFORMANCE YEAR by YEAR COMPARISONS','','publish','closed','closed','','6869-2','','','2017-02-01 07:40:30','2017-02-01 12:40:30','',0,'https://weeklyfxdrivethru.com/?page_id=6869',0,'page','',0),(9107,1,'2017-02-11 16:32:32','2017-02-11 21:32:32','&nbsp;\r\n<ol>\r\n 	<li><strong>INTRODUCTION:</strong><strong> </strong></li>\r\n</ol>\r\nAfter an awful start to 2017 from a trading perspective, as they say “the ship has now steadied itself” (apologies if that is not 100% accurate). I have seen some green/black numbers on my broker account trading balances. It was nothing but red for most of January.\r\n\r\nSo… where do I go from here?\r\n<p style=\"text-align: center;\">“To infinity and beyond”, “The only way is up”,\r\n“Digging in the Dirt”, off to my “Secret World” or maybe “2,000 light years from home?”</p>\r\nThe answer is back to the hard graft taking on board what I have learned about this year’s market so far and the way it reacts based upon TRUMPANTICS.\r\n\r\nIn October 2016, I was speaking with a couple of investors one from Sydney and one from San Francisco on a SKYPE call and we were talking about Forex Trading in general. Whilst I knew that I had adapted a 2016 trading style that was different to 2015, it became apparent that in my first year of the PREMIUM SERVICE 2014, my trade approach was somewhat different than that of 2013. I am not saying that one needs to have camouflage or mimicry abilities each year or for that matter be some sort of chameleon to trade, but these qualities would help!\r\n\r\nBeing able to adapt and change is paramount and a critical success factor for trading longevity. Amongst other trivia such as RISK MANAGEMENT, POSITION SIZING and TRADE PLANS… I jest.\r\n\r\nMoving on…\r\n\r\nThe FX market is without doubt news driven rather than by economic data at the moment. I think that over time TRUMP will understand that he can’t keep delivering ill thought out outbursts on every occasion. He can act business-like when required and I think that sooner or later he will settle down. Notice I placed no timeline here and no; I have not been drinking or smoking something illegal. I write this paragraph because an intelligent person would realize sometimes it is best to say nothing than to create uncertainty. I am making assumptions here, I know.\r\n\r\nI think what helped last week, was that there was a sudden realization that other events around the world mattered. Following a phone call from NICOLAUS COPERNICUS to “THE DONALD” he was told that despite what he thinks he was NOT the centre of the universe.\r\n\r\nThe EUROZONE woes continued with the French elections with Mr. Fillon involved in a scandal concerning jobs for his family, which resulted in far right extremist Marine (Feck off the single currency and leave the EU) Le Pen leading in the opinion polls. With the populist vote on the rise, I would NOT rule out Le Pen with a serious challenge. Stranger things have happened…\r\n\r\nWolfgang aka “the pit bull” Schaeuble (German Finance Minister), has basically opened the door ready to boot GREECE out of the EUROZONE (more on this later in the blog).\r\n\r\nWith other “you’re gonna love it”, “it will be fantastic” news; the antipodean central banks RBA &amp; RBNZ are basically moving away from dovish to neutral. They are far too savvy to go hawkish because they would get steamrollered should Janet Yellen at the FED go hawkish and raise interest rates in the US. Will Yellen raise rates? That is a whole ‘nother’ story as they say.\r\n\r\nBREXIT A50 trigger is moving sweetly through the UK parliamentary process. It has passed through the commons and has now gone for its second reading in the Lords.\r\n\r\nI just have a feeling this weekend’s Sunday papers are going to be a hoot in Europe.\r\n\r\nNow some FX broker news…\r\n\r\nNice platform or not; those feckers at FXCM have been caught out and banned from operating in the US.\r\n\r\nThey took a huge amount off me vis-à-vis the CHF peg removal on my GBP/CHF trade. Following the PEG removal and cable FLASH CRASH last year I have heard of so many stories about poor service, that it comes as no surprise.\r\n\r\nIs this the end for FXCM?  I would say no matter what country you operate in many people closed accounts on the US news. If the owners lied to the US regulators, surely they have lied across the globe to other jurisdictions, if they believed for years that they had pulled the wool over US regulators; why wouldn\'t they do the same elsewhere. A leopard never changes its spots.\r\n\r\nThis story will have legs over the coming weeks.\r\n\r\nMore…\r\n\r\nI mentioned last week that I was going to focus in this week’s blog about my transition trades as I adapt to these changing markets. This will possibly be featured in next week’s blog.\r\n\r\nEven more…\r\n\r\nTHE WEEKLY FX DRIVE THRU – LIVE webinars.\r\n\r\nI am now getting to grips with the technology more and more, as time progresses. I am now comfortable with my 30-minute agenda. Basically, I take a “PICKERING” view of the week ahead. I think that having the webinar at the start of the week at the end of day one is possibly the best time to hold such an event. It allows for weekly candle follow through, or not, to take effect; plus, the first daily candle of the week is important in my eyes not just for possible continued sentiment but also for the establishment of any new moves.\r\n\r\n#4 is on Monday 13th February at 5:30PM\r\n<ul>\r\n 	<li>To attend live - you need Google Chrome as a browser.</li>\r\n 	<li>You cannot view on smart phones or tablets, only Laptops and Desktops.</li>\r\n</ul>\r\nThe link is below: -\r\n\r\n<a href=\"http://bit.ly/drivethru-live\">http://bit.ly/drivethru-live</a>\r\n\r\nIf you cannot listen live you can check out my You Tube channel, Scott Pickering Weekly FX Drive Thru for a freshly posted copy of the webinar, usually, within a couple of hours of its completion.\r\n\r\nFinally, in this section…\r\n\r\nIf you would like to be in the monthly draw to win a “FREE 10-WEEK SUBSCRIPTION” to the PREMIUM SERVICE, valued at CAD$1,000.00, all you have to do is subscribe to receive this FREE NEWSLETTER on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>  On my welcome page just below my cube logo is where you complete your subscription.\r\n\r\nLast week’s winner which I failed to annotate in the blog: brian@******.co.uk is fully up and running.\r\n\r\n<strong> </strong>\r\n<ol start=\"2\">\r\n 	<li><strong> THE FX MARKET PLACE – LOOKING FORWARD:</strong></li>\r\n</ol>\r\n<strong><u>NOTE:</u></strong> This year, 2017, I am not going to look backwards in this section only forwards. News items / points of interest from the prior week will be covered in the introduction.\r\n\r\n<u>ECONOMIC DATA RELEASES:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017.png\"><img class=\"aligncenter size-large wp-image-9080\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/ECON-DATA-12022017-1024x947.png\" alt=\"\" width=\"1024\" height=\"947\" /></a>\r\n\r\n<u>MY THOUGHTS ON THE WEEK AHEAD:</u>\r\n\r\nSeveral items catch my eye this week: -\r\n<ol>\r\n 	<li>USD: Janet Yellen – Testimony to the Senate Banking Committee with her statement of US Monetary Policy.\r\n\r\nThis should be a “doozy” as no matter what she says she could be upstaged by TRUMPANTICS.\r\n\r\nHowever, let’s face simple economic facts. The US economy is performing basically very well and by all accounts “THE DONALD” is going to splash the cash that US does NOT have, to re-build roads, bridges and airports, which in comparison to Quebec where I live are fecking brilliant. If you want to see pot holes in roads, crumbling bridges, crumbling overpasses and crumbling buildings please put Montreal into your vacation plans. It needs money spent on it; big…’bigly’ money.\r\n\r\nSo, when TRUMP talks about airports in poor shape I can see his point, in New York and some other major hub cities. However, with regards to roads, if you travel from Quebec into Ontario or Quebec south into New York state the difference in the quality of the roads is noticeable at the state/province boundary. Just google it you will see what I mean.\r\n\r\nBack to the point…\r\n\r\nYellen should be pushed on normalization of interest rates policy and this will be the issue that creates most volatility. The fact that the FED seems to have already once again pulled back from three rate increases to possibly just two or my opinion maybe just one this year will attract some attention, or rather it should.</li>\r\n 	<li>GBP: Jobs data is always an important economic barometer and something that governments are held very accountable for more than anything else by most voters.\r\n\r\nThere is also CPI and Retail Sales this week from the UK.\r\n\r\nThe data since last June’s BREXIT vote has mainly shown tremendous resilience with the UK economy. However, I fear it is the hard numbers relating to the capital account etc. from the treasury that interests the markets more moving forward.\r\n\r\nWithout doubt in my opinion the withdrawal of capital from the UK and the movement of labour, which is inevitable in my opinion, will be what influences the direction of the cable exchange rate moving forward. For now, we have the opening act to deal with.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n 	<li>AUD: Jobs data on Wednesday night. I want to see the AUD/USD back at 0.8000 so I can short it. Nothing more than that. So please let’s have some great numbers!!</li>\r\n</ol>\r\n<ol start=\"4\">\r\n 	<li>NZD: Retail Sales. Directly opposite to the AUD/USD, I would like the NZD currency to fall off the cliff (nothing against any kiwi’s reading this blog). Regretfully for me, these numbers look like they could be a beat never mind a failure…argh!!</li>\r\n</ol>\r\nAs always bear in mind it has been news rather than economic data moving the markets so check twitter for tweets from “THE DONALD” and be aware of the BREXIT and EUROXZONE possibility to deliver geopolitical news at any time totally unannounced.\r\n\r\nRemember, get your T-Shirt printed “Uncertainty and confusion rules”\r\n\r\n<u>\r\nUSD MAJORS – “IMMEDIATE” SUPPORT &amp; RESISTANCE with TREND:</u>\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017.png\"><img class=\"aligncenter size-large wp-image-9081\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/T-CHART-12022017-1024x855.png\" alt=\"\" width=\"1024\" height=\"855\" /></a>\r\n\r\nMy trade charts for the USD majors are below. My thoughts, views and commentary is written on the charts.\r\n\r\nYou will find my charts, hopefully easy to follow. I only use Fibonacci levels, trend lines, confluence points and sometimes chart patterns to identify my high probability trades. If you have any difficulty understanding the points that I am trying to make, please do not hesitate to contact me.\r\n\r\nEUR/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9091\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/EURUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nGBP/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9092\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/GBPUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nAUD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9090\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/AUDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nNZD/USD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9093\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/NZDUSD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CAD:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9094\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCAD-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/CHF:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9095\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDCHF-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n&nbsp;\r\n\r\nUSD/JPY:\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017.png\"><img class=\"aligncenter size-large wp-image-9096\" src=\"http://weeklyfxdrivethru.com/wp-content/uploads/2017/02/USDJPY-D-12022017-1024x485.png\" alt=\"\" width=\"1024\" height=\"485\" /></a>\r\n\r\n<strong>\r\n\r\n</strong>\r\n<ol start=\"3\">\r\n 	<li><strong> THE PREMIUM SERVICE:</strong></li>\r\n</ol>\r\n<u>WHAT IS THE PREMIUM SERVICE:</u>\r\n\r\nThe PREMIUM SERVICE is a subscriber, fee based trade set-up option for Forex traders regardless of experience or background. I provide traders suggested trades, and some market commentary related to open trades or factors within the overall market that have my interest.\r\n\r\nFull details of the PREMIUM SERVICE and costs to subscribe plus the various trade styles and how suggested trade set-ups are communicated can be found on my website landing page at <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a> by selecting THE PREMIUM SERVICE tab.\r\n\r\nAdditional information can be found by clicking TESTIMONIALS, PART-TIME TRADERS and FX PROMOTIONS tabs. To subscribe to THE PREMIUM SERVICE, you will require a valid credit card.\r\n\r\nIf you would like to watch/listen to a c.30-minute PREMIUM SERVICE webinar to learn more about what I can do to help you with your trading. Then click the link below and register. It is FREE… it costs nothing to listen.\r\n\r\n<a href=\"http://www.onlinemeetingnow.com/register/?id=wrklqabmy3\">http://www.onlinemeetingnow.com/register/?id=wrklqabmy3</a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n 	<li><strong>PREMIUM SERVICE – SUBSCRIBER CONTENT AREA:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<ol start=\"5\">\r\n 	<li><strong> THE SOAPBOX:</strong></li>\r\n</ol>\r\n<strong> </strong>\r\n<p style=\"text-align: center;\"><strong>“THE PIT BULL” MOVES IN…\r\n</strong><strong>WILL HIS ACTIONS BE NOTED AS HELPFUL\r\n</strong><strong>IN THE HISTORY BOOKS?</strong></p>\r\n<p style=\"text-align: center;\"><strong> </strong></p>\r\nI love Wolfgang Schaeuble aka “The Pit Bull”.\r\n\r\nThe German Finance Minister goes places only “THE DONALD” would go. He is the closest to “THE DONALD” in the EUROZONE with regards sticking his oar in whether its required or not.\r\n\r\nLaugh… Holy Mother of God. The management of the EUROZONE can only be compared to a set of chickens running around a farmyard with their heads cut off.\r\n\r\nWho the hell is Schaeuble to tell a member state what to or what not to do? Every time he produces outbursts like this, it does make outsiders believe that the other 18 members of the single currency union are like provinces of Germany. I totally get his position as Finance Minister of Germany, and without doubt Germany is the powerhouse of the union. However, all members of the union are equal per the core documents and whilst Schaeuble can have his opinions, he isn’t even the leader of Germany and the fact that he sits on the Finance Ministers committee chaired by Jeroen Dijsselbloem with regards to the EUROZONE and its funding of GREECE, to me means he is once again over-stepping his mark.\r\n\r\nHowever, on this occasion I ask was it helpful in the long run and should he have been more vocal in this direction 6 years ago?\r\n\r\nMario Draghi, ECB President, had a similar problem with Ewald Nowotny (Austrian Bank Governor) and Jens Weidman (German Bundesbank Governor) undermining what he was trying to achieve a couple of years ago. It is very noticeable these two ECB board members have shut up of late as it is in the best interests of ECB policy for them to do so.\r\n\r\nIn an interview, the issue of a debt haircut for GREECE came up. Schaeuble answered only as he knows how. It has been widely accepted that Schaeuble was showing GREECE the EUROZONE door.\r\n\r\nFrankly Schaeuble and his counterparts on the committee managed by Dijsselbloem have kicked the GREECE can down the road for years, so maybe now is the time for GREECE to leave the EUROZONE and revert to the “Drachma” away from the single-currency. But, why wasn’t GREECE encouraged to leave before? Why did the EUROZONE Finance Ministers keep lending money, creating more and more conditions that the Tsipras led government has no chance of adhering to?\r\n\r\nMy God, it\'s the Lisbon Treaty once again (Article 50 of BREXIT fame contained in it as well) that states that a “debt cut“ violates EUROZONE rules and a country would have to leave the EURO AREA to have one. The EU leaders must have been on acid or an equivalent when the Lisbon treaty was ushered in!\r\n\r\nSo, GREECE is front and centre once again.\r\n\r\nWill the EUROZONE Finance Ministers finally get GREECE resolved? We are in a Mexican stand-off as I see it from a macro viewpoint.\r\n<ul>\r\n 	<li>The IMF are clear from their position stating that in their opinion GREEK reforms promised to creditors are off track. The Tsipras lead Greek government reject this point of view… no surprise there. This mistrust goes all the way back to 2009.</li>\r\n 	<li>Schaeuble is very kind to GREECE. Do what you said you would do when you received your last bailout and all will be OK. GREECE needs the second round of bailout III money soon. The clock is ticking down.</li>\r\n 	<li>The issue with GREECE is not as much about the debt management as it is about remaining competitive in business. This is very difficult, as most businesses must operate without credit. GREECE has long become almost a cash only business environment. This makes it extremely hard to see growth and it opens black market trading and hides the real economy. How can you govern effectively in this environment?</li>\r\n 	<li>The IMF are reluctant to go further with financial support. If the IMF pull out, the Dutch government have said that without IMF continued support the Netherlands will not participate in any revised or updated Greek bailout.</li>\r\n 	<li>Bond yields in Greece are rising once again and time is running out to get a deal done before the EUROZONE elections take hold and hog the news.</li>\r\n</ul>\r\n&nbsp;\r\n\r\nWhat for GREECE then?\r\n\r\nA debt haircut is required to enable the country to take control of its finances and move forward. I think I wrote this two maybe three years ago. We are now further down a stony, can ridden road and we have greater uncertainty than ever before.\r\n\r\nCan GREECE survive outside of the EUROZONE?\r\n\r\nThey are lovely people and they have a backbone. They have shown tremendous resilience so far. It is however an absolute bloody disaster that 6/7 years later they are probably going to have to do what they should have done on day one.\r\n\r\nHad GREECE left the single currency back in 2009 where would GREECE Be now? You would have to say probably in better shape. GREECE is the classic example that the EUROZONE ‘one size fits all’ approach does not work.\r\n\r\nNow let’s be clear. GREECE did not help itself at times. However, the best solution is to leave the single currency as soon as possible and take control. There will always be buyers of debt and reverting to monetary policy control allows the freedom that GREECE requires to move forward.\r\n\r\nDo we thank the PIT BULL for elevating the debate?\r\n\r\nHistorians may look kindly on this event when the books are written. It could however get lost in the 2017 bigger story about the EUROZONE / EUROPEAN UNION implosion!\r\n\r\n&nbsp;\r\n<ol start=\"6\">\r\n 	<li><strong> CLOSING THOUGHTS:</strong><strong> </strong></li>\r\n</ol>\r\nNothing more to add here, I have said enough except,\r\n\r\nAs usual…\r\n\r\nAlways remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.\r\n\r\nTake care, have a great trading week.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nTwitter: @pipaccumulator\r\n\r\n<a href=\"http://weeklyfxdrivethru.com/disclaimer/\">http://weeklyfxdrivethru.com/disclaimer/</a>\r\n\r\nBLOG VERSION: #231 FREE NEWSLETTER\r\nDATE: 12<sup>th</sup> February 2017.<strong>\r\n\r\n</strong>\r\n\r\n&nbsp;\r\n\r\n&nbsp;','“THE PIT BULL” MOVES IN…','','publish','open','closed','','pit-bull-moves','','','2017-02-11 16:32:32','2017-02-11 21:32:32','',0,'http://weeklyfxdrivethru.com/?p=9107',0,'post','',0),(9001,1,'2017-01-28 05:56:55','2017-01-28 10:56:55','','RADAR 28012017','','inherit','open','closed','','radar-28012017','','','2017-01-28 06:21:52','2017-01-28 11:21:52','',2524,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/RADAR-28012017.png',0,'attachment','image/png',0),(9002,1,'2017-01-28 05:57:08','2017-01-28 10:57:08','','FLASH 28012017','','inherit','open','closed','','flash-28012017','','','2017-01-28 06:20:30','2017-01-28 11:20:30','',2711,'http://weeklyfxdrivethru.com/wp-content/uploads/2017/01/FLASH-28012017.png',0,'attachment','image/png',0),(4197,16,'2014-08-12 10:36:36','2014-08-12 15:36:36','<div class=\"one-third first\">\r\n<h3>BLACKWELL GLOBAL</h3>\r\n<a href=\"https://infinitum.blackwellglobal.com/ib_link.action?ct=IB&amp;iaid=12634007&amp;id=3\" target=\"_blank\">\r\n<img src=\"https://infinitum.blackwellglobal.com/mimages/Banner5white.jpg?ct=IB&amp;iaid=12634007&amp;id=3\" alt=\"\" width=\"240\" height=\"400\" border=\"0\" />\r\n</a>\r\n<div class=\"pdf-links\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-MADE-EASY-BLACKWELL-GLOBAL.pdf\">FOREX MADE EASY - BLACKWELL GLOBAL</a>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/FOREX-ANALYSING-MADE-EASY-BLACKWELL-GLOBALeasy.pdf\">FOREX ANALYSING MADE EASY - BLACKWELL GLOBALeasy</a></div>\r\n</div>\r\n<div class=\"one-third\">\r\n<h3 style=\"margin-bottom:40px;\">FXCM</h3>\r\n<p><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\"><img src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/fxcm_white_logo.jpg\" alt=\"FXCM logo\" width=\"280\" height=\"188\" class=\"alignnone size-full wp-image-4035\" /></a></p>\r\n<p>Please click on the appropriate link below that corresponds to where you live.\r\nRegretfully, I cannot accept applications from USA residents.</p>\r\n<p><div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr-demo/?rb=LTD_SCOTT_PICKERING\" title=\"demo account any region\">DEMO ACCOUNT ANY REGION</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CA_SCOTT_PICKERING\" title=\"FXCM canadian link\">FXCM Canada</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=CRESCO_CAP_MK_SCOTT_PICKERING\" title=\"FXCM European link\">FXCM Europe</a></div>\r\n<div class=\"btn\"><a href=\"https://secure4.fxcorporate.com/tr/?rb=LTD_SCOTT_PICKERING\" title=\"FXCM AFRICA ASIA &amp; MIDDLE EAST link\">FXCM AFRICA ASIA &amp; MIDDLE EAST</a></div>\r\n</p>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n<h3>VITAL MARKETS</h3>\r\n</div>','FX Brokers','','inherit','open','closed','','2704-revision-v1','','','2014-08-12 10:36:36','2014-08-12 15:36:36','',2704,'https://weeklyfxdrivethru.com/2704-revision-v1/',0,'revision','',0),(4198,16,'2014-08-12 10:41:56','2014-08-12 15:41:56','<h3>EZ TRADING COMPUTERS</h3>\r\n<div class=\"one-half first\"><a title=\"Download buyers guide for trading computers\" href=\"https://mt128.isrefer.com/go/weeklyfx-g/weeklyfx/\"><img src=\"http://tradingcomputersnow.com/wp-content/uploads/2014/04/EZTC-skypescrapper.png\" alt=\"trading computers buyers guide\" /></a></div>\r\n<div class=\"one-half\">\r\n<div class=\"btn\"><a title=\"Product page: \" href=\"https://mt128.isrefer.com/go/weeklyfx-p/weeklyfx/\" target=\"_blank\">Product page: </a></div>\r\n<div class=\"btn\"><a title=\"Download Guide: \" href=\"https://mt128.isrefer.com/go/weeklyfx-g/weeklyfx/\" target=\"_blank\">Download Guide: </a></div>\r\n</div>','TRADING COMPUTERS','','publish','open','closed','','trading-support','','','2014-11-07 10:13:21','2014-11-07 15:13:21','',0,'https://weeklyfxdrivethru.com/?page_id=4198',0,'page','',0),(4199,16,'2014-08-12 10:41:56','2014-08-12 15:41:56','<h3>EZ TRADING COMPUTERS</h3>\r\n<div class=\"one-half first\">\r\n<a href=\"https://mt128.isrefer.com/go/weeklyfx-g/weeklyfx/\" title=\"Download buyers guide for trading computers\"><img src=\"http://tradingcomputersnow.com/wp-content/uploads/2014/04/EZTC-skypescrapper.png\" alt=\"trading computers buyers guide\"/></a>\r\n</div>\r\n<div class=\"one-half\">\r\n<div class=\"btn\"><a href=\"https://mt128.isrefer.com/go/weeklyfx-p/weeklyfx/\" title=\"Product page: \" target=\"_blank\">Product page: </a></div>\r\n<div class=\"btn\"><a href=\"https://mt128.isrefer.com/go/weeklyfx-g/weeklyfx/\" title=\"Download Guide: \" target=\"_blank\">Download Guide: </a></div>\r\n</div>','TRADING SUPPORT ','','inherit','open','closed','','4198-revision-v1','','','2014-08-12 10:41:56','2014-08-12 15:41:56','',4198,'https://weeklyfxdrivethru.com/4198-revision-v1/',0,'revision','',0),(4203,16,'2014-08-12 10:56:22','2014-08-12 15:56:22','<section class=\"members\">\r\n<div style=\"text-decoration:underline;\">\r\n<a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar-trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a><a title=\"Position Trades\" href=\"./part-time-trader-trades/\">Position Trades</a><a title=\"Total Trades Profit Summaries (Month and Year to Date\" href=\"./combined-trades-profit/\">Total Trades Profit Summaries (Month and Year to Date)</a><a title=\"Monthly and Annual Combined Performance Analysis\" href=\"./completed-trades-profit-loss-ratios/\">Monthly and Annual Combined Performance analysis</a><a title=\"Pip Performance Year by Year Comparisons\" href=\"./6869-2/\">Pip Performances Year by Year Comparisons</a>\r\n</div>\r\n</section>','TRADING SUMMARIES','','publish','open','closed','','trade-summaries','','','2016-12-05 12:35:07','2016-12-05 17:35:07','',0,'https://weeklyfxdrivethru.com/?page_id=4203',0,'page','',0),(8735,1,'2016-11-30 10:18:17','2016-11-30 15:18:17','<section class=\"members\">\r\n<div style=\"text-decoration: underline;\"><a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar-trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a></div>\r\n</section>','TRADING SUMMARIES','','inherit','closed','closed','','4203-revision-v1','','','2016-11-30 10:18:17','2016-11-30 15:18:17','',4203,'http://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(4204,16,'2014-08-12 10:56:22','2014-08-12 15:56:22','','TRADE SUMMARIES','','inherit','open','closed','','4203-revision-v1','','','2014-08-12 10:56:22','2014-08-12 15:56:22','',4203,'https://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(4205,16,'2016-12-05 11:29:45','2016-12-05 16:29:45','<section class=\"members\">\n<div style=\"text-decoration: underline;\">\n<a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar-trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a><a title=\"Position Trades\" href=\"./Position-trades/\">Position Trades</a><a title=\"Total Trades Profit Summaries (Month and Year to Date\" href=\"./Total-Trades-Profit-Summaries-(Month-and-Year-to-Date-)/\">Total Trades Profit Summaries (Month and Year to Date)</a><a title=\"Monthly and Annual Combined Performance Analysis\" href=\"./Monthly-and-Annual-Combined-Performance-Analysis/\">Monthly and Annual Combined Performance analysis</a><a title=\"Risk/Reward analysis\" href=\"./Risk-/-Reward-Analysis/\">Risk/Reward Analysis</a><a title=\"Pip Performance Year by Year Comparisons\" href=\"./Pip-Performance-Year-by-Year-Comparisons/\">Pip Performances Year by Year Comparisons</a></div>\n</section>','TRADING SUMMARIES','','inherit','open','closed','','4203-autosave-v1','','','2016-12-05 11:29:45','2016-12-05 16:29:45','',4203,'https://weeklyfxdrivethru.com/4203-autosave-v1/',0,'revision','',0),(4206,16,'2014-08-12 11:01:05','2014-08-12 16:01:05','<section class=\"members\">\r\n<a title=\"Flash Trades\" href=\"./flash_trades/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar_trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a>\r\n\r\n</section>','TRADE SUMMARIES','','inherit','open','closed','','4203-revision-v1','','','2014-08-12 11:01:05','2014-08-12 16:01:05','',4203,'https://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(4207,16,'2014-08-12 11:02:09','2014-08-12 16:02:09','<section class=\"members\">\r\n<a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar_trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a>\r\n\r\n</section>','TRADE SUMMARIES','','inherit','open','closed','','4203-revision-v1','','','2014-08-12 11:02:09','2014-08-12 16:02:09','',4203,'https://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(4208,16,'2014-08-12 11:03:19','2014-08-12 16:03:19','<section class=\"members\">\r\n<a title=\"Flash Trades\" href=\"./flash-trades-2/\">Flash Trades</a><a title=\"Radar Trades\" href=\"./radar-trades/\">Radar Trades</a><a title=\"Fundamental Trades\" href=\"./fundamental-trades/\">Fundamental Trades</a>\r\n\r\n</section>','TRADE SUMMARIES','','inherit','open','closed','','4203-revision-v1','','','2014-08-12 11:03:19','2014-08-12 16:03:19','',4203,'https://weeklyfxdrivethru.com/4203-revision-v1/',0,'revision','',0),(4209,16,'2014-08-12 11:04:52','2014-08-12 16:04:52','','Trading Summaries','','publish','open','closed','','4209','','','2017-01-09 11:02:06','2017-01-09 16:02:06','',0,'https://weeklyfxdrivethru.com/?p=4209',6,'nav_menu_item','',0),(4212,1,'2014-08-25 06:37:07','2014-08-25 11:37:07','<p style=\"text-align: center;\"></p>\n<p style=\"text-align: left;\"></p>\n<p style=\"text-align: left;\"></p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>A COMPREHENSIVE\nREVIEW\nOF THE\nPREMIUM SERVICE PERFORMANCE\nYEAR TO DATE 31<sup>st</sup> July 2014</strong></span></p>\n<strong>1. INTRODUCTION:</strong>\n\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6<sup>th</sup> 2014.\n\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\n\nBelow I publish all the spreadsheets related to July’s performance. These are only usually available to subscribers, but I thought today it would helpful to readers considering  joining the PREMIUM SERVICE.\n<ol>\n	<li>RADAR TRADES – July performance.</li>\n	<li>FLASH TRADES – July performance.</li>\n	<li>FUNDAMENTAL TRADES – July performance.You will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.</li>\n	<li>RADAR TRADES – year to date performance.</li>\n	<li>FLASH TRADES – year to date performance.</li>\n	<li>FUNDAMENTAL TRADES – year to date performance.</li>\n	<li>COMBINED TRADING SUMMARY – July performance.</li>\n	<li>COMBINED TRADING SUMMARY – year to date performance.</li>\n	<li>PREMIUM SERVICE as at 31<sup>st</sup> July 2014 – <strong>Net $$$ profits</strong> performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.</li>\n</ol>\n&nbsp;\n\n<strong>2. THE PREMIUM SERVICE - TRADING SUMMARY:</strong>\n<p style=\"text-align: center;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES\n</strong><strong>JULY 2014 and YEAR to date:</strong></p>\n<p style=\"text-align: left;\">Below I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.</p>\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\n\n<span style=\"text-decoration: underline;\"><strong>RADAR TRADES – July performance.</strong></span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\"><img class=\"aligncenter size-full wp-image-4173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\" alt=\"RADAR1 31072014\" width=\"536\" height=\"469\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\"><img class=\"aligncenter size-full wp-image-4174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\" alt=\"RADAR2 31072014\" width=\"536\" height=\"474\" /></a>\n\n<span style=\"text-decoration: underline;\"><strong>FLASH TRADES – July performance.</strong></span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\"><img class=\"aligncenter size-full wp-image-4175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\" alt=\"FLASH1 31072014\" width=\"487\" height=\"482\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\"><img class=\"aligncenter size-full wp-image-4176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\" alt=\"FLASH2 31072014\" width=\"487\" height=\"481\" /></a>\n\n<strong>FUNDAMENTAL TRADES – July performance.</strong>\n\n<strong>\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\"><img class=\"aligncenter size-full wp-image-4177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\" alt=\"FUNDAMENTAL 31072014\" width=\"483\" height=\"508\" /></a><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\">\n</a>\n</strong><strong>RADAR TRADES – year to date performance.</strong>\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\" alt=\"RADAR YTDJULY\" width=\"346\" height=\"360\" /></a>\n\n&nbsp;\n\n<strong>FLASH TRADES – year to date performance.</strong>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\" alt=\"FLASH YTDJULY\" width=\"338\" height=\"358\" /></a>\n\n<span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – year to date performance.</strong></span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\"><img class=\"aligncenter size-full wp-image-4180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\" alt=\"FUNDAMENTAL YTD JULY31\" width=\"343\" height=\"355\" /></a>\n\n<strong>COMBINED TRADING SUMMARY – July performance.</strong>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\"><img class=\"aligncenter size-full wp-image-4171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\" alt=\"PREM SERV PROFITS1 31072014\" width=\"446\" height=\"422\" /></a>\n\n&nbsp;\n\n<span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – year to date performance.</strong></span>\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\"><img class=\"aligncenter size-full wp-image-4172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\" alt=\"PREM SERV PROFITS2 31072014\" width=\"457\" height=\"415\" /></a>\n\n&nbsp;\n\nThe above examples are for illustration purposes only:\n\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\n\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\n\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\n\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\n\n&nbsp;\n\n<strong>3. FINAL THOUGHTS:</strong>\n\nBelow is my favourite excel spreadsheet chart.\n\nThis shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one-off “MARKETING BONUS” upon acceptance.\n\n&nbsp;\n\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\"><img class=\"aligncenter size-full wp-image-4183\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\" alt=\"PREM SERV NET PROFIT CALCS  AS AT 31072014\" width=\"533\" height=\"567\" /></a>\n\n&nbsp;\n\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>   At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\n\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1<sup>st</sup> when I start up 100% again with daily and weekly blogs and tweets etc.:\n<ol>\n	<li>If you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30<sup>th</sup> June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or</li>\n</ol>\n<ol start=\"2\">\n	<li>If you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6<sup>th</sup> September.</li>\n</ol>\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\n\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\n\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\n\nDATES:          Saturday 13<sup>th</sup> and Sunday 14<sup>th</sup> September 2014.\n\nVENUE:         Hampton Inn and Suites.\n\nADDRESS:    1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\nTIMES:           Saturday - 11.30AM, 2.30PM and 4.30PM.\n\nSunday - 2.30PM and 4.30PM.\n\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\n\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\n\nIf you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!\n\n&nbsp;\n\nTake care and good luck in the interim, see you on September 2nd after Labour Day.\n\nScott Pickering\nThe Pip Accumulator\nMonday 25th August 2014\n\nEMAIL / FOLLOW ME AT:\ndrivethru@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\nGoogle+/scottpickering\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n&nbsp;\n\n<strong> </strong>','A COMPREHENSIVE PREMIUM SERVICE 2014 REVIEW','','inherit','open','closed','','4181-autosave-v1','','','2014-08-25 06:37:07','2014-08-25 11:37:07','',4181,'https://weeklyfxdrivethru.com/4181-autosave-v1/',0,'revision','',0),(4213,1,'2014-08-25 07:30:23','2014-08-25 12:30:23','On September 2nd THE WEEKLY FX DRIVE THRU, THE PREMIUM SERVICE, DAILY FX POST and both of my TWITTER accounts fire up once again after the summer break.\r\n\r\nThe article below was posted on August 2nd, after it\'s posting, I received several emails asking me to remind people when would it be the deadline to open up a separate broker account to trade the PREMIUM SERVICE and also SET-UP a subscription.\r\n\r\nAs we are just over a week away from starting once again to have both the broker and subscription in place ready for the off,  to start the process now, would ensure that both pieces would be in place.\r\n\r\nWith regards to the broker, if you would like the MARKETING BONUS approach as described below you must click on the BLACKWELL GLOBAL banner on the welcome page of THE WEEKLY FX DRIVE THRU to qualify. The alternative is FXCM, but there are NO bonuses associated with this broker but the rate spreads available are marginally better. It is your choice, you decide. If you require more information just contact me by email.\r\n\r\nSee you on September 2nd with hopefully the PREMIUM SERVICE, if not via @pipaccumulator on twitter and at weekends through THE WEEKLY FX DRIVE THRU.\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>A COMPREHENSIVE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> REVIEW</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> OF THE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> PREMIUM SERVICE PERFORMANCE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> YEAR TO DATE 31st July 2014</strong></span></p>\r\n<span style=\"text-decoration: underline;\"><strong>1. INTRODUCTION:</strong></span>\r\n\r\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6th 2014.\r\n\r\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\r\n\r\nBelow I publish all the spreadsheets related to July’s performance and the year to date positions. These are only usually available to subscribers, but I thought today it would helpful to readers considering joining the PREMIUM SERVICE.\r\n<ol>\r\n	<li>RADAR TRADES – July performance.</li>\r\n	<li>FLASH TRADES – July performance.</li>\r\n	<li>FUNDAMENTAL TRADES – July performance. You will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.</li>\r\n	<li>RADAR TRADES – year to date performance.</li>\r\n	<li>FLASH TRADES – year to date performance.</li>\r\n	<li>FUNDAMENTAL TRADES – year to date performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – July performance.</li>\r\n	<li>COMBINED TRADING SUMMARY – year to date performance.</li>\r\n	<li>PREMIUM SERVICE as at 31st July 2014 – Net $$$ profits performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.</li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>2. THE PREMIUM SERVICE - TRADING SUMMARY:</strong></span>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>RADAR, FLASH and FUNDAMENTAL TRADES</strong></span>\r\n<span style=\"text-decoration: underline;\"> <strong> JULY 2014 and YEAR to date:</strong></span></p>\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\r\n\r\nNote all profitable and Loss making trades are based off single lot trades only across the MICRO, MINI and STANDARD LOT excel sheets.\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>RADAR TRADES – July performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\"><img class=\"aligncenter size-full wp-image-4173\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR1-31072014.png\" alt=\"RADAR1 31072014\" width=\"536\" height=\"469\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\"><img class=\"aligncenter size-full wp-image-4174\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR2-31072014.png\" alt=\"RADAR2 31072014\" width=\"536\" height=\"474\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>FLASH TRADES – July performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\"><img class=\"aligncenter size-full wp-image-4175\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH1-31072014.png\" alt=\"FLASH1 31072014\" width=\"487\" height=\"482\" /></a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\"><img class=\"aligncenter size-full wp-image-4176\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH2-31072014.png\" alt=\"FLASH2 31072014\" width=\"487\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – July performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\"><img class=\"aligncenter size-full wp-image-4177\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-31072014.png\" alt=\"FUNDAMENTAL 31072014\" width=\"483\" height=\"508\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>RADAR TRADES – year to date performance.</strong></span></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4178\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/RADAR-YTDJULY.png\" alt=\"RADAR YTDJULY\" width=\"346\" height=\"360\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>FLASH TRADES – year to date performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\"><img class=\"aligncenter size-full wp-image-4179\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FLASH-YTDJULY.png\" alt=\"FLASH YTDJULY\" width=\"338\" height=\"358\" /></a>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>FUNDAMENTAL TRADES – year to date performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\"><img class=\"aligncenter size-full wp-image-4180\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/FUNDAMENTAL-YTD-JULY31.png\" alt=\"FUNDAMENTAL YTD JULY31\" width=\"343\" height=\"355\" /></a>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – July performance.</strong></span></p>\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\"><img class=\"aligncenter size-full wp-image-4171\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS1-31072014.png\" alt=\"PREM SERV PROFITS1 31072014\" width=\"446\" height=\"422\" /></a>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>COMBINED TRADING SUMMARY – year to date performance.</strong></span></p>\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\"><img class=\"aligncenter size-full wp-image-4172\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-PROFITS2-31072014.png\" alt=\"PREM SERV PROFITS2 31072014\" width=\"457\" height=\"415\" /></a>\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. FINAL THOUGHTS:</strong></span>\r\n\r\nBelow is my favourite excel spreadsheet chart.\r\n\r\nThis shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one-off “MARKETING BONUS” upon acceptance.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\"><img class=\"aligncenter size-full wp-image-4183\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/08/PREM-SERV-NET-PROFIT-CALCS-AS-AT-31072014.png\" alt=\"PREM SERV NET PROFIT CALCS  AS AT 31072014\" width=\"533\" height=\"567\" /></a>\r\n\r\n&nbsp;\r\n\r\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of www.weeklyfxdrivethru.com At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1st when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n\r\nIf you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30th June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or\r\nIf you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6th September.\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>The PREMIUM SERVICE as recently mentioned, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.</strong></p>\r\n<p style=\"text-align: center;\"><strong>In September, I will be starting with a series of presentations in Montreal, Canada as follows: -</strong></p>\r\n<p style=\"text-align: center;\"><strong>DATES: Saturday 13th and Sunday 14th September 2014.</strong></p>\r\n<p style=\"text-align: center;\"><strong>VENUE: Hampton Inn and Suites.</strong></p>\r\n<p style=\"text-align: center;\"><strong>ADDRESS: 1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL</strong>\r\n<strong> TIMES: Saturday - 11.30AM, 2.30PM and 4.30PM.</strong></p>\r\n<p style=\"text-align: center;\"><strong>Sunday - 2.30PM and 4.30PM.</strong></p>\r\n<p style=\"text-align: center;\"><strong>Seating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.</strong></p>\r\n<p style=\"text-align: center;\"><strong>If you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.</strong></p>\r\n<p style=\"text-align: center;\"><strong>If you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!</strong></p>\r\n&nbsp;\r\n\r\nTake care and good luck in the interim, see you soon in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nMonday August 25th 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','GET SET-UP NOW FOR THE RE-START OF THE PREMIUM SERVICE','','publish','open','closed','','1-3','','','2014-08-25 07:30:23','2014-08-25 12:30:23','',0,'https://weeklyfxdrivethru.com/?p=4213',0,'post','',0),(4214,1,'2014-08-25 06:56:45','2014-08-25 11:56:45','A COMPREHENSIVE\r\nREVIEW\r\nOF THE\r\nPREMIUM SERVICE PERFORMANCE\r\nYEAR TO DATE 31st July 2014\r\n\r\n1. INTRODUCTION:\r\n\r\nThere is no WEEKLY FX DRIVE THRU blog this week; the resumption will take place September 6th 2014.\r\n\r\nBeing that it is a month end, I thought it correct that I should post the year to date PREMIUM SERVICE performance.\r\n\r\nBelow I publish all the spreadsheets related to July’s performance. These are only usually available to subscribers, but I thought today it would helpful to readers considering joining the PREMIUM SERVICE.\r\n\r\nRADAR TRADES – July performance.\r\nFLASH TRADES – July performance.\r\nFUNDAMENTAL TRADES – July performance.You will notice in July from 35 trades in total only 2 were loss making trades. That is the best monthly performance this year so far. I am very happy.\r\nRADAR TRADES – year to date performance.\r\nFLASH TRADES – year to date performance.\r\nFUNDAMENTAL TRADES – year to date performance.\r\nCOMBINED TRADING SUMMARY – July performance.\r\nCOMBINED TRADING SUMMARY – year to date performance.\r\nPREMIUM SERVICE as at 31st July 2014 – Net $$$ profits performance based upon an annual subscription to the PREMIUM SERVICE and separate broker account with one of my preferred brokers with an opening marketing bonus.\r\n\r\n2. THE PREMIUM SERVICE - TRADING SUMMARY:\r\n\r\nRADAR, FLASH and FUNDAMENTAL TRADES\r\nJULY 2014 and YEAR to date:\r\n\r\nBelow I show the up to date performances for my various trading styles. Full excel spreadsheets are in the subscriber area of the PREMIUM SERVICE website.\r\n\r\nBelow are the excel spreadsheets covering July 2014 and the year 2014 to date.\r\n\r\nRADAR TRADES – July performance.\r\n\r\nRADAR1 31072014RADAR2 31072014\r\n\r\nFLASH TRADES – July performance.\r\n\r\nFLASH1 31072014FLASH2 31072014\r\n\r\nFUNDAMENTAL TRADES – July performance.\r\nFUNDAMENTAL 31072014\r\n\r\nRADAR TRADES – year to date performance.\r\n\r\n&nbsp;\r\n\r\nRADAR YTDJULY\r\n\r\n&nbsp;\r\n\r\nFLASH TRADES – year to date performance.\r\n\r\nFLASH YTDJULY\r\n\r\nFUNDAMENTAL TRADES – year to date performance.\r\n\r\nFUNDAMENTAL YTD JULY31\r\n\r\nCOMBINED TRADING SUMMARY – July performance.\r\n\r\nPREM SERV PROFITS1 31072014\r\n\r\n&nbsp;\r\n\r\nCOMBINED TRADING SUMMARY – year to date performance.\r\n\r\nPREM SERV PROFITS2 31072014\r\n\r\n&nbsp;\r\n\r\nThe above examples are for illustration purposes only:\r\n\r\nThe profitability examples detailed above are based solely upon single lot trading, regardless of lot type. If multiple lot sizes are traded the profitability margins will be different than those shown\r\n\r\nJust to provide more information so you understand where I am coming from with the risk / reward statements above. All of my trades are of different sizes and different size lot types. The above does not reflect the actual trading performance, but it does show you the direction of the performance of the trades placed.\r\n\r\nI like to add to trades, profits are taken as the trade progresses and my overall cost average moves several times. All of my trades are of different lot styles. I trade a mixture of micro lots, mini lots and standard lots across my brokers.\r\n\r\nThe above results simply display your profit or loss if you placed a single lot trade on all the set-ups suggested and did nothing else.\r\n\r\n&nbsp;\r\n\r\n3. FINAL THOUGHTS:\r\n\r\nBelow is my favourite excel spreadsheet chart.\r\n\r\nThis shows the net profit position had you joined the PREMIUM SERVICE in January this year and opened a separate broker account with one of my preferred brokers, which entitles you to a one-off “MARKETING BONUS” upon acceptance.\r\n\r\n&nbsp;\r\n\r\nPREM SERV NET PROFIT CALCS AS AT 31072014\r\n\r\n&nbsp;\r\n\r\nFor new readers, if you want more details about the PREMIUM SERVICE what it is, and, how much it costs, you will need to go the welcome page of www.weeklyfxdrivethru.com At the top of the page there are three drop down menus: PREMIUM SERVICE, SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.\r\n\r\nIf you were thinking about subscribing to the PREMIUM SERVICE but were waiting for the summer lower volume trading doldrums to pass, you could do the following over the next two / three weeks and be set for September 1st when I start up 100% again with daily and weekly blogs and tweets etc.:\r\n\r\nIf you wanted to keep PREMIUM SERVICE trades separate from your own trades you could set up an additional Broker account with BLACKWELL GLOBAL (but you must “click on” the banner on the welcome page of the WEEKLY FX DRIVE THRU, this enables me to apply a marketing bonus of 30% on all balances above US$1,000 (maximum $3,000) to your account once opened. (My blog dated 30th June 2014 – “Why Subscribing to the PREMIUM SERVICE is a good idea” willprovideadditional information)and / or\r\nIf you pay now for your subscription to the PREMIUM SERVICE membership weeks which will not start counting until 6th September.\r\nSo if you wanted you could be all set with a separate broker and subscription ready for the September start again.\r\n\r\nThe PREMIUM SERVICE as mentioned a coupe of weeks ago, is going out on the road to attract additional subscribers. In a previous life I was a “Sales Trainer” amongst other things and this is one area that I loved. I see this as a great fit with my longer–term aspirations for the subscriber service.\r\n\r\nIn September, I will be starting with a series of presentations in Montreal, Canada as follows: -\r\n\r\nDATES: Saturday 13th and Sunday 14th September 2014.\r\n\r\nVENUE: Hampton Inn and Suites.\r\n\r\nADDRESS: 1900 Rte. Transcanadienne (Nr. Blvd Des Sources), MONTREAL.\r\nTIMES: Saturday - 11.30AM, 2.30PM and 4.30PM.\r\n\r\nSunday - 2.30PM and 4.30PM.\r\n\r\nSeating will be limited. If you are coming and want to reserve a place please contact me via email and I will confirm a front seat reservation.\r\n\r\nIf you are an existing subscriber and want to introduce yourself and say hello please come along if you have time to spare.\r\n\r\nIf you are an existing subscriber and have friends that are interested in Forex come along with them, it costs nothing to listen!\r\n\r\n&nbsp;\r\n\r\nTake care and good luck in the interim, see you in September.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSaturday August 2nd 2014\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;','*1','','inherit','open','closed','','4213-revision-v1','','','2014-08-25 06:56:45','2014-08-25 11:56:45','',4213,'https://weeklyfxdrivethru.com/4213-revision-v1/',0,'revision','',0),