<h3 style="text-align: center;"><strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>
<strong>DATE: 25.01.2015
REFERENCE: #136
</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>

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<ol>
	<li><strong><span style="text-decoration: underline;"> INTRODUCTION:</span></strong></li>
</ol>
In the past few weeks to open the blog I have used great, what I call Irish openings: -

<em><span style="text-decoration: underline;">“Holy Mother of God”
</span></em><em><span style="text-decoration: underline;">“Jesus Mary and Joseph”</span></em>

This week it’s a very plain and somewhat casual – <em><span style="text-decoration: underline;">“What the feck was that”</span></em>

I have been trading for 8 years. In these past two weeks I was screwed over by “SNB DAY”, which cost me a lot of money, and I got suckered into the second move of the after effects of the QE announcement from the ECB, causing me real stress to work off the losses that swept across my trading accounts in a flash.

Volatility my ar**, that was pure FEAR &amp; GREED in play; the swings were so severe there were panic moves at times. I would have loved to have witnessed the QE Day move from a bank’s trading room. I very strongly suspect that there were some twitchy bottoms hanging around and with some of the moves rolls of Andrex must have been consumed by the Costco size pack.

At the end of the day, I have three of my five accounts back in order. Just one left to fix this week, the other one is not OK as it belongs to FXCM and quite frankly, the fact they have STILL NOT contacted me after my report to them, tells me that they are deep up to their knees in do-do, or as I say “Knee deep in sh**e” or “Up the Liffey without a paddle”

Moving on from the pleasantries, Draghi did enough to satisfy the markets (I got that wrong last week, but I am so pleased for the EUROZONE populations). I think that a 500-pip drop in two days is a fairly convincing move to say that the markets have got it. Some selling was severe; we did bounce 150-pips off the lows yesterday in EUR/USD, which in all honesty was expected, if it were not for the Greek elections, I would have a fresh LIMIT ORDER in position to capture the next leg lower.

I never thought that Draghi would do it….. we have seen basically a 3,000 pip move lower since last May with the EUR/USD, and now Draghi can claim some of the move lower can be attributable to ECB policy (That statement may be slightly unfair… I don’t care it’s my blog!!).

Prior to Draghi we had a very surprise interest rate cut from the BOC (more about that later). However the big news in my eyes albeit the markets took it in its stride was the day before the BOC, when the BOE MPC votes were released from the last BOE interest rate decision and there were no dissenters. All 9 of the MPC members voted for a hiatus on interest rate increases (more about this later).

Since SNB day, I feel that I have had vey little down time, to think, schedule and plan effectively… never mind think. After the Greek election results later today, the big day is Wednesday for the FED and RBNZ.

I have an article for a blog already 75% complete, which I am hoping to release next weekend about the potential moves in the market that should be available to us should the fundamental macro moves happen as I think that they will. Publishing it next weekend is probably the best time given that the FED and RBNZ Central banks are going to have their say this week. We know about the rest.

Finally, I am still hearing of traders being stung on SNB day, yet at the same time I am hearing about how forgiving FX brokers have been on negative balances. I need more research on this subject. It is NOT as “nicey-pie” as we are being led to believe.

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<ol start="2">
	<li><strong><span style="text-decoration: underline;"> WHAT’S ON MY MIND: -
THE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>
</ol>
<p style="text-align: center;"><strong><span style="text-decoration: underline;">FED-BOJ-SNB-BOE-BOC-ECB
</span></strong><strong><span style="text-decoration: underline;">and next it’s the RBNZ</span></strong></p>
The Worlds Central Bankers are like Rock Stars in my Forex world.

I often said prior to Janet Yellen succeeding him as FED chair that Ben Bernanke was the most powerful man in the world. He could stop the world financial markets at a stroke….

Mario Draghi serves up more bulls**t than an Irish farmyard and we love it…give us more…

Mark Carney flexed his muscles on a whim last year, the reaction from cable was unbelievable…it was of course complete and utter boll**cks that he announced to the worlds media, but…. we just loved it.

We are like “Lab Rats”…. “Assumption 3” from my old Economics days “Non-satiety – the consumer can never be over-supplied with a product”, in Forex terms we can’t get enough of this crap…. As Don Henley says “We’re workin’ it”.

It’s like being a child standing outside the entrance to the circus that has just rolled into town…

<em>Roll up, roll up…now its time for the RBNZ and its governor, Mr. Graeme Wheeler</em>.
<ol>
	<li>FED:
We have already had Janet Yellen at the FED announce a change in FED monetary policy. Good economic data = increase in interest rates in 2015, exactly when in 2015 who knows?, it is anybody’s guess… but it will happen.</li>
</ol>
<ol start="2">
	<li>BOJ:</li>
</ol>
You want “Quantitative Easing” with volume, go to Tokyo and meet Mr. Kuroda the head of the BOJ, an unbelievable quantity each month is keeping the Tokyo markets flooded with Yen, so much so traders are being lost under wads of cash at the Nikkei.
<ol start="3">
	<li>SNB:</li>
</ol>
SNB governor Jordan makes the history books. 48 hours before removing the peg the SNB tells the press that it will defend it with it’s last breath…. What a complete load of boll***s that statement turned out to be! Peg gone… we move on.
<ol start="4">
	<li>BOE:</li>
</ol>
Last year Mark Carney, governor of the BOE (Switching from BOC and replacing my mate Mervyn King aka “Merv the Swerve” as head of BOE), announces at the London Lord Mayor’s mansion House, in the Autumn/Fall 2014 (Dinner for those more fortunate in the UK), to get ready as UK interest rates are going to rise sooner than you think. Classic….since then, more retreats than the Italian Army in WWII, culminating with the BOE MPC all aligned for the first time in donkey’s years in agreement to keep UK interest on hold for the foreseeable future. In BOE talk not 2015.
<ol start="5">
	<li>BOC:</li>
</ol>
Governor Poloz pulls a David Copperfield….. whoosh!! Rate cut 0.25%..now we know the BOC governors name!!
<ol start="6">
	<li>ECB:</li>
</ol>
The whisperer…talker…prolific can kicker Mario Draghi delivers what he first talked about last May 2014. It has taken him since then to calm the waters for the Germans to get on board the ship to the Printing Press Island. The markets loved it; the EUR/USD crashed over 500 pips inside 24 hours. Draghi was rumoured to have been seen relaxing smoking a cigar, with a glass of claret in his hand on a park bench at an unnamed park location in Brussels. I cannot however, confirm or deny the status of the leggy blonde pouring the wine.

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So there we have it so far 6 of the 8 flutes have spoken. Just two left to go - the RBNZ and RBA.

Well actually, both central banks have already shown their hands. But, I am wondering following the surprise rate cut from the BOC does this change things moving forward for the Central banks down-under.
<ol start="7">
	<li>RBA:</li>
</ol>
Governor Glenn Stevens indicated at a fairly recent press hoedown that the policy of the RBA was looking to the AUD/USD exchange rate at around 0.7500. We are on the way there and I think maybe even lower.
<ol start="8">
	<li>RBNZ:</li>
</ol>
Three months ago John Key, the Prime Minister of New Zealand, an ex Forex man, actually stated in public that he wanted to see the over-valued Kiwi dollar at 0.6500 against the greenback.
There is an issue though, Graeme Stevens the RBNZ Bank Governor, has a problem with his words and actions.

He has over 2014, often remarked about how over-valued the NZD is and that the NZD/USD exchange rate is too high. He says this and then increases the RBNZ cash rate, which as we know, only sends the currency higher - NOT lower.

Leaving the above comments to one side, the BOC rate cut was a total surprise. It was out of the blue. Why did Poloz feel that he had to do this?

Obviously the price of Oil would concern the BOC. The drop in oil prices on an oil-based economy is bound to have an effect.

Let me take it a step further, commodity prices are dropping like crazy all over, all categories, therefore does it not mean that commodity based economies instead of being higher interest rate based economies may be looking to cut to compensate and try to keep their local economies moving.

The RBA, RBNZ and NB (Norges Bank – Norwegian Central Bank) being the key commodity economies along with the BOC…must also be looking at future policy decisions. The RBNZ was in particular looking to be having at least two rate increases this year. I would say that following the SNB, BOE, BOC and ECB news and policy statements that any RBNZ rate increases are shelved.

Therefore, this weeks RBNZ announcement on Wednesday will be read backwards and forwards to ascertain monetary policy changes.

For my blog, I wrote several weeks ago; 22<sup>nd</sup> November 2014 “It’s A Race To The Bottom” – those were my fundamental views and thoughts at that time… they are ringing true at the moment.

The bottom line is that foreign exchange rates are critical for exporting, promoting any business programs, growth, productivity, employment etc etc….. With this in mind, every country wants to have the edge, the advantage over another country and therefore the lower the local currency the better.

It is a race to the bottom, and it isn’t over yet.

The FED is the only HAWK Central Bank at the moment…
(but will NOT announce approximate time for first rate increase)
The BOJ, ECB, BOE, SNB, BOC and RBA and RBNZ are all DOVES…

In 60 minutes this Wednesday, we have both the FED and RBNZ statements. There is potential for real fireworks.

Can you imagine, if the FED says roughly when rate increases are going to occur and then the RBNZ cuts rates and announces further cuts in 2015-6?

Very, very interesting times ahead.

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<ol start="3">
	<li><strong><span style="text-decoration: underline;"> THE PREMIUM SERVICE:

</span></strong></li>
</ol>
<strong><span style="text-decoration: underline;">SUMMARY OF PERFORMANCE:</span></strong>

<span style="text-decoration: underline;">3.1 OVERVIEW:</span>

For new readers who may not be aware, I refer to the PREMIUM SERVICE quite a lot in this blog and 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, PROMOTIONS (if available), SIGN-UP and DISCLAIMER. Further details and how to join are all contained there. You will need at PayPal account to subscribe.

<span style="text-decoration: underline;">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>

Full details regarding the PREMIUM SERVICE can be found on my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the welcome page there are a series of TABS at the top of the page that provide a summary of what the PREMIUM SERVICE is about and what you receive for your subscription.

THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -

10 weeks - $200.00
20 weeks - $350.00
40 weeks - $500.00

<span style="text-decoration: underline;">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>

One of the key attributes of being a Forex trader is accepting that you are going to take losses. But more important than that, it is how you fight back. In the past week, I have tried to pick myself up after the SNB day. I am still $$$$ down and one of my broker accounts looks sick. But I have fought back; remember as a trader it is YOU versus the WORLD.

The PREMIUM SERVICE shows a profit on single lot trades but as I trade more than this, my $$$ value in my own accounts are not yet back in the black. However, as I say, and many of you are single-lot traders, if you just trade the published single lot trades you would be positive in your broker accounts.

The PREMIUM SERVICE added 17 trades this week, the profit /loss ratio has increased to 75%-25%. Last weeks overall pip loss has now been turned into a small pip profit… a real nice reversal. We are heading in the right direction after Mr. Jordan did his best last week when he let loose the cat amongst the pigeons.

I feel confident enough to state that as the major announcements like SNB, BOC, BOE, ECB QE and the next FED meeting fall further behind us it becomes easier to set trades as central bank policy is set. It gives us an excellent backdrop from which to trade moving forward.

The usual summary charts detailing the week and year to date performances, are below: -

<span style="text-decoration: underline;">3.3.1. – THE PREMIUM SERVICE PROFIT/LOSS RATIOS:

</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITLOSS-25012015.png"><img class="aligncenter size-full wp-image-5174" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITLOSS-25012015.png" alt="PREM SERV PROFIT:LOSS 25012015" width="402" height="579" /></a>

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<span style="text-decoration: underline;">3.3.2. – THE PREMIUM SERVICE RISK/REWARD ANALYSIS:

</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-RISK-REWARD-25012015.png"><img class="aligncenter size-full wp-image-5175" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-RISK-REWARD-25012015.png" alt="PREM SERV RISK-REWARD 25012015" width="432" height="539" /></a>

<span style="text-decoration: underline;">3.3.3. – THE PREMIUM SERVICE TRADE SUMMARY MONTH &amp; YTD:</span>

<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFIT1-25012015.png"><img class="aligncenter size-full wp-image-5176" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFIT1-25012015.png" alt="PREM SERV PROFIT1 25012015" width="452" height="428" /></a>

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<a href="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFIT2-25012015.png"><img class="aligncenter size-full wp-image-5177" src="https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFIT2-25012015.png" alt="PREM SERV PROFIT2 25012015" width="459" height="417" /></a>

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<span style="text-decoration: underline;">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>

<strong>THE PREMIUM SERVICE
</strong><strong>(The Home of Single-Lot Trading)</strong>

<strong>FOR JANUARY and FEBRUARY 2015
</strong><strong>ONLY
</strong><strong>THE PREMIUM SERVICE
</strong><strong>Offers a
</strong><strong>“BONUS WEEKS”
</strong><strong>LIMITED TIME PROMOTION:</strong>

Keeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.

If you open a separate account with any of my trading partners / preferred brokers CWMFX, AvaTrade or Blackwell Global, you will be eligible for “BONUS WEEKS” to be added to your subscription.

This is in addition to the account-opening bonuses for new clients offered by AvaTrade, (see their website www.avatrade.com for full details), or, Blackwell Global (contact me directly for bonus details)

The promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by AvaTrade and Blackwell Global.

If you intend to be or are a longer-term position style trader only looking at your computer once a day tight rate spreads may not be as important to you and as such, the AvaTrade or Blackwell Global bonus may be more appealing to you.

Conversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.

The choice is yours.

This promotion with my associated trading partners will expire of Saturday 28th

February 2015…it is really very limited: -
<ol>
	<li>Subscribe to the PREMIUM SERVICE:</li>
</ol>
You will need to go to the welcome page of my website <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

Click on the sign-up tab at the top of the page.

2015 PREMIUM SERVICE SUBSCRIPTION RATES

10 weeks = $200.00

20 weeks = $350.00

40 weeks = $500.00 (full year / annual subscription)

NOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times. Hence, 40 weeks is equal to an annual subscription.

&nbsp;
<ol start="2">
	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</li>
</ol>
This will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.

For Blackwell Global advise me of what you are doing and I will guide you through the process.

All the banners are on the welcome page of my website

www.weeklyfxdrivethru.com

&nbsp;
<ol start="3">
	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>
</ol>
Once the LIVE trading account is confirmed and funded, I will extended

PREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at <a href="mailto:premiumservice@weeklyfxdrivethru.com">premiumservice@weeklyfxdrivethru.com</a>: -

10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)
Your subscription would be equivalent to $13.33 per week.

20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)
Your subscription would be equivalent to $11.66 per week.

40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)
Your subscription would be equivalent to $8.33 per week.

This promotion represents the best offer that I have participated in and has an unbelievable value. It is simply the best that I have ever promoted and is a great way to start trading in 2015.

It would hopefully be the start of a very profitable relationship together.

&nbsp;
<ol start="4">
	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>
</ol>
Only broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.

For the “BONUS WEEKS PROMOTION” in subscription weeks to the

PREMIUM SERVICE to remain intact you must meet the AvaTrade, Blackwell Global or CWMFX requirements for operating your broker account. Should your account with AvaTrade, Blackwell Global or CWMFX cease to be valid and close the “BONUS WEEKS” segment of the PREMIUM SERVICE promotion will also be withdrawn.

This PREMIUM SERVICE “BONUS WEEKS PROMOTION” is only available with this offer and is 100% linked to the AvaTrade, Blackwell Global or CWMFX LIVE accounts being opened via the banners on the welcome page of my website www.weeklyfxdrivethru.com

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<ol start="4">
	<li><strong><span style="text-decoration: underline;"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>
</ol>
(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)

<span style="text-decoration: underline;">4.1 EDUCATION:</span>

<span style="text-decoration: underline;">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>

<span style="text-decoration: underline;">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>

<span style="text-decoration: underline;">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>

<span style="text-decoration: underline;">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style="text-decoration: underline;">:

</span></strong>

&nbsp;
<ol start="5">
	<li><strong><span style="text-decoration: underline;"> THE WEEK AHEAD: -
WHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>
</ol>
<span style="text-decoration: underline;">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>

If you like what you have almost completed reading and want to have THE WEEKLY FX DRIVE THRU delivered direct to your email inbox next week, here is what you do: -

Go to my website: - <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a>

On the right hand side of the welcome page under my bio “about me” there is a blue box titled SUBSCRIBE TO FREE NEWSLETTER, click on profile and add your email address. It is as simple and straightforward as that.

I do NOT sell your email data to anyone…do not worry.

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<span style="text-decoration: underline;">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>
SUNDAY: EUR – Greek Parliamentary Elections.

MONDAY: AUD – NAB Business Confidence.

TUESDAY: AUD CPi.

WEDNESDAY: USD – FOMC Monetary Policy Statement.
WEDNESDAY: NZD – RBNZ Monetary Policy Statement / Interest Rate.
WEDNESDAY: NZD – Trade Balance.

THURSDAY: AUD - PPi.

FRIDAY: EUR – Eurozone Flash CPi Estimates.
FRIDAY: CAD - GDP.
FRIDAY: USD – Advance GDP.

<span style="text-decoration: underline;">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>

It has been a testing two weeks trading the Forex markets.

This week we have two major news events, the FED statement and the RBNZ statement, both on Wednesday.

These will offer volatility and what I stated last week still stands for this coming week.

Before you enter a trade work out the risk, price it in $$$. Place your stop accordingly. PREMIUM SERVICE subscribers have a full library of information on RISK MANAGEMENT, RISK TOLERANCES and POSITION SIZING etc. available for reference 24x7.

Take care.

Scott Pickering
The Pip Accumulator
Sunday January 25<sup>th</sup> 2015

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EMAIL / FOLLOW ME AT:
drivethru@weeklyfxdrivethru.com
Twitter: @pipaccumulator
<span style="line-height: 1.5;">Google+/scottpickering
</span>Tumblr: thepipaccumulator

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<strong><span style="text-decoration: underline;">DISCLAIMER &amp; OTHER DATA:</span></strong>

<span style="text-decoration: underline;">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>

There are a small number of companies with banners on my website. In the interests of full disclosure I have a reciprocal business arrangement with these companies to promote their products.

Unlike many of my competitors, I use the products and services provided by these companies. I will NOT allow any third party on my website unless I am 100% happy that they can back up their promise.

By virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.

Any reader who buys products or services from any advertiser via a banner on my website, <a href="http://www.weeklyfxdrivethru.com">www.weeklyfxdrivethru.com</a> will automatically have my help and assistance with any issues that they may have with my partnered advertisers.

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<span style="text-decoration: underline;">TRADING &amp; PERFORMANCES DISCLAIMER:</span>

FLASH, RADAR and FUNDAMENTAL trade set-ups, “Tweets” and “Trade ideas” that are posted in my blogs or on Twitter are trades and set-ups that interest me. They are provided for training and informational purposes only and should not be interpreted as an offer, solicitation or recommendation of any specific security or investment strategy. Past performance is not indicative of future results. Trading Forex carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade any such leveraged products you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading on margin, and seek advice from an independent financial adviser if you have any doubts.