(5240,1,'2015-02-01 03:43:27','2015-02-01 08:43:27','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.02.2015\r\nREFERENCE: #45\r\n</strong><strong>BLOG: THE PREMIUM SERVICE</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nWhat a fascinating week of trading. It was probably, one of my most successful weeks in recent times.\r\n\r\nGiven all the shenanigans of the month: - the surprise SNB EUR/CHF peg removal, the ECB with the Draghi QE announcement, the BOC surprise rate cut, the FED remaining vague and patient, and finally, the RBNZ change in monetary policy to being more accommodative “Dovish”. The big news events last month were in fact “mega” news events, whether they were planned or not. To have these types of news event, the likes of which, we may only see once in a lifetime, and, and to have them all in the same month (plus some surprises), certainly raised not just eyebrows but stress levels as well.\r\n\r\nThe fallout from the SNB continues to roll on, there are now reports surfacing about how much individual brokers lost, plus who is forgiving and who is not forgiving negative balances. I am still waiting on FXCM to advise me what is happening with my loss.\r\n\r\nMoving on, the big news events this week are: -\r\n<ul>\r\n	<li>RBA Interest Rate Statement</li>\r\n	<li>RBNZ Governor Graeme Wheeler</li>\r\n	<li>PMi Data from China, UK, Canada and U.S.</li>\r\n	<li>AUD, CAD and U.S. Trade Balances.</li>\r\n	<li>CAD, NZD and U.S. Employment Data including Non-Farm Payrolls.</li>\r\n</ul>\r\nSo…. It is a very big FX week, and, we should expect a surprise, maybe not a rate cut but maybe a more “Dovish” statement from RBA Governor Glenn Stevens.\r\n\r\nThe “D” word, to you and me “DEFLATION” is now being quoted more often than the wimpish EUROZONE and Ben Bernanke’s “D” word - “DIS-INFLATION” version, so the PMi and Trade Balance numbers will be very closely watched. Literally, every day this week brings us something to trade around.\r\n\r\nThe markets are very skittish at the moment, the U.S. indices that lead the world are moving very strangely and look to be at levels that are prime for a pullback, but I have been saying that for about two years to no avail… One time I will be right….\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<strong>COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT</strong>\r\n\r\nOver the past week or so it has become increasingly obvious that commodity currencies and in particular the commodity cross rates have been very much the flavour of making $$$ out of the Forex market.\r\n\r\nAll of the fall-out with the USD following the SNB and the ECB has meant that the DXY is testing major resistance levels and as a result the USD has tended to consolidate its recent moves. The EUR/USD had a monumental move lower on the back of ECB announcement of its QE program. Thus, the move in the USD took on an overbought picture and we need to allow time for consolidation before the recent DXY highs are re-tested.\r\n\r\nThe commodity currencies, AUD, NZD and CAD have whilst all the attention has been focused on the EUR/USD, weakened quite dramatically.\r\n\r\nAs you are probably aware there is a worldwide sell-off of commodities in general and therefore it stands to reason that the commodity currencies would be affected.\r\n\r\nInitially our focus was on OIL. The USD/CAD broke out to the long side on the back of Oil weakness. There is a glut of supply over demand, which, is usually enough to drive a market but we have to add into this market the fact that it is full of hedge fund speculators (this is a news event on the horizon with losses) that quite frankly distort all parameters. Moving on…. This created the leap higher like a “pop-tart from your toaster” and the USD/CAD, looks like it is relentlessly heading towards 1.3000. Where is OIL going to find a bottom, probably sub $40.00, before it sees some support and value. The Canadian economy is not 100% reliant on Oil. It is not a 100% Oil based economy although it is hugely important, so much so that combined with the commodity sell-off it was enough to cause Stephen Poloz, Governor of the Bank of Canada, sufficient concern to cut the BOC overnight rate by 0.25%. This action further weakened the Canadian currency.\r\n\r\nThe knock on effect, Graeme Wheeler at the RBNZ took a more dovish stance in his recent monetary policy statement and the RBA meets this week, so all eyes will be on governor, Glenn Stevens to see what he does. Rumored rate cuts have been denied. But I strongly suspect a greater more accommodative statement at the very least this Tuesday (EDT).\r\n\r\nIt all leans towards a direction that we can trade. If you only trade the USD majors with the Central banks giving direction from the monetary policy statements, go with the flow.\r\n<p style=\"text-align: center;\">NZD/USD and AUD/USD – short\r\nUSD/CAD - long</p>\r\nI have written extensively over the past 12 months about the effects of the Central Banks on the Forex Market (I wrote a huge piece last week on this subject).\r\n\r\nIf you are a trader that doesn’t mind a little more risk and greater volatility, you can also look at trading the commodity currency cross-rates.\r\n<p style=\"text-align: center;\">EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD</p>\r\nThere are more pairs involving the AUD and CHF, but the ones above are the main ones. Moves with these pairs have been particularly strong to the upside, as the commodity currencies have weakened. Personally, through the PREMIUM SERVICE I have been trading mainly the GBP related pairs due to the on-going EUROZONE situation casting a cloud over my desire to trade the EUR anything to the long side.\r\n\r\nFor the foreseeable future commodity pairs and commodity crosses should be, in my opinion, the cornerstone, of your Forex trading strategy.\r\n\r\n(In using the word cornerstone, I realize this was used by the SNB 48 hours prior to the peg removal, when confirming to the media “the EUR/CHF Peg was the cornerstone of the SNB monetary policy”….it is a great word!!!)\r\n\r\nThe commodity crosses are rallying when equities are consolidating and moving upwards. Can you just imagine what would happen if equities start to pullback?\r\n\r\nI took time out the other day for an hour or so and caught some CNBC, which has extensive coverage of the current earnings season. This will have a direct impact on the equity markets.\r\n\r\nHere’s what is rolling around in my brain right now... this minute: - My God with 30 seconds of watching CNBC I was on the roof checking the tiles/shingles…\r\n\r\nI heard so many companies lay the blame for poor quarterly earnings on the strength of the USD.\r\n\r\nLet me just think….\r\n<ul>\r\n	<li>When the USD was weaker, there was no mention of the opposite tailwinds that a weaker USD offered … it was just like, “we are just brilliant managers in these desperate times”</li>\r\n	<li>After the 2008-9 crash, U.S. companies to stay afloat, bolted down, cut out jobs to improve costs as demand for goods decreased so that they could continue to supply Wall Street with good earnings.</li>\r\n	<li>As the economy improved, U.S. companies did not hire extra staff to cope with increased volumes… they kept wages low and they banked the extra cash that was generated.</li>\r\n	<li>To satisfy Wall Street, using the cash on the balance sheet they started to buy back shares to improve the EPS (Earnings Per Share ratio) to satisfy investors and the Wall Street analysts. The analysts on Wall Street are generally so poor that no one ever really challenged the fact that the balance sheet top line of “Sales Income” hardly moved higher or in fact actually decreased. The EPS measurement was great though!!</li>\r\n	<li>Last year the ever-supportive FED announced Tapering; QE would be brought to completion. The liquidity (printing presses) would be reduced month by month until zero and then the policy of low interest rates would change to a policy of raising interest rates. This meant a weak USD would, because of a change to increasing interest rates, become a strong USD. This was well advertised over 12 months ago.</li>\r\n	<li>Oil has sold off by more than 50% of its early 2014 price per barrel. This effectively gives consumers an instant tax cut as the savings are there every time a fuel tank is filled. Businesses also benefit from lower Oil prices through lower production and transportation costs. Oil is directly linked to the USD as Oil is priced in dollars. As OIL decreases this helps strengthen the USD.</li>\r\n</ul>\r\nMy thoughts now….\r\n<ul>\r\n	<li>The U.S. companies reporting weak earnings have in my opinion, been guilty of burying their heads in the sand. It is basic, pure and simple poor management.</li>\r\n	<li>All of the above has been known about or started over a year ago. To use a strong USD as an excuse is pathetic. Yes it has an effect, but my God these people are paid to manage; in many cases they are just not good enough.</li>\r\n	<li>Wages have not been increasing, the U.S. unemployment data accuracy is questionable, and there is little inflation in the world, more like DEFLATION.</li>\r\n	<li>Commodity prices are continually heading lower; no one is buying finished goods, so why produce them? So commodity prices drop even more. It is a vicious circle.</li>\r\n	<li>Consumers obviously do not feel confident to buy. It would appear that they are saving or paying down debt when the opportunity arises.</li>\r\n	<li>The last set of U.S. data for retail sales was weak… It was the biggest sales quarter and it was poor data.</li>\r\n</ul>\r\nAll of the above, business incompetence included leads to weaker commodities and weaker commodity currencies.\r\n\r\nEventually, the equity markets will smell the coffee. I do not have much faith in most U.S. businesses, as they appear to be as dysfunctional as Washington at times. They just want the FED to support them forever… infinity. What gets the U.S. economy moving in all forward gears is enough for another blog.\r\n\r\nI have written so many times in the past, its all about commodities, commodities drive the markets and everything else follows, there may be a lag but the rest eventually follows.\r\n\r\nEquities are at the precipice once again, should they rollover, in my opinion the commodity currencies are the trades to look at.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was for the PREMIUM SERVICE a great week. What began as a difficult month turned out to be a great month when all the statistics were collated? I wrote last week, that following events such as SNB Day, if you lost money, it’s all about the way you pick yourself up and move forward. As mentioned earlier, the commodity currencies and commodity cross-rate pairs saved the month.\r\n\r\nIf you look at the currency moves for the past month, using only the relationships between the G7 basket of currencies the CHF obviously on the back of SNB action was the strongest mover in January.\r\n\r\nCHF    +75.56% - power of the SNB EUR/CHF Peg removal.\r\n\r\nJPY     +32.55%\r\n\r\nUSD   +21.06% - FED policy / oil / help from ECB.\r\n\r\nGBP    -3.89%\r\n\r\nAUD    -16.49% - Commodity sell-off / China fears.\r\n\r\nEUR   -29.10% - ECB QE policy announcement.\r\n\r\nNZD    -33.79% - RBNZ more dovish stance / commodity sell-off / China fears.\r\n\r\nCAD    -45.90% - weaker Oil / commodity sell off / BOC rate cut dovish stance.\r\n\r\n(Source: Forex Live)\r\n\r\nThe PREMIUM SERVICE closed on 51 trades during the month of January 2015. 40 of those trades were profitable (78%) and 11 were loss-producing trades (22%).\r\n\r\nThe major aspect of trading that stands out, is that overall I never made a profit from my RADAR TRADES. The reason being trades from SNB day, created substantial pip losses from which I was never able to fully recover from.\r\n\r\nI also cancelled more trades than ever last month, due to the increasing market volatility, which caused me huge issues at times, as I did not want to post potential higher risk trades to PREMIUM SERVICE subscribers.\r\n\r\n<strong>Total pips generated in profitable trades this month: - 1,813 pips.</strong>\r\n\r\nThe income from trades was as follows: -\r\n\r\n<strong>MICRO LOT TRADERS:                 51 trades cost $5.10 = return of $181.30.</strong>\r\n<strong> MINI LOT TRADERS:                      51 trades cost $51.00 = return of $1,813.00.</strong>\r\n<strong>STANDARD LOT TRADERS:         51 trades cost $510.00 = return of $18,130.00.           </strong>\r\n\r\nWhilst these numbers represent a great return, they do not tell the full story. Position Sizing is a major consideration in volatile trading conditions.\r\n\r\nIt was in January easier to generate the pips than it was to bank the cash due to RISK MANAGEMENT. Compromise on POSITION SIZING was the order of the day to MANAGE RISK properly. Yes, you could make a return but the size of your broker account determined the return you could make due to RISK MANAGEMENT.\r\n\r\nLet me elaborate a little further….\r\n\r\nIn January to keep “TRADES ALIVE” stop loss levels were a little wider than usual. Last year ATR’s (Average True Ranges) in may pairs shrank and a typical stop was set maybe 40-50 pips away from the entry level.\r\n\r\nWhen suggesting trades this year, the ranges have increased a little as the volatility has also increased. This has meant that pivots and Fibonacci levels have been a little wider.\r\n\r\nThis is exacerbated with the exotic pairs, which were more volatile anyway because they see less flow and are more illiquid. This means that a previous 400 pip stop on a longer-term exotic pair may now be 500-600 pips and wider if I see the trade as a FUNDAMENTAL TRADE set-up. The wider the stop, the greater the risk, to me says take a smaller position size. When trading exotics I would always recommend taking at least only 25% of what you would usually trade as your maximum position size anyway.\r\n\r\nThe mix of trade-set ups is also interesting between USD majors and the rest.\r\n\r\nThe bottom line is that for most traders unless you manage your position sizes correctly you are limited to the number of live trades that you should take on board using RISK EXPOSURE.\r\n\r\nLet me provide an example based on a STANDARD LOT trader with a typical $100,000.00 balance in his broker account. To keep this simple I am only looking at the position of the STOP in number of pips away from the entry level.\r\n\r\nTRADE SET-UPS suggested from the PREMIUM SERVICE:\r\n(All trades are assumed to be single lot trades at a value of $10.00 each trade)\r\n(My trade limit RISK per trade is 0.5%)\r\n(Total “LIVE” RISK should be no more than 3%)\r\n<ol>\r\n	<li>EUR/USD: Entry at 1.1360 Stop at 1.1450 – RISK = 90 x $10 - $900.00</li>\r\n	<li>EUR/GBP: Entry at 0.7550 Stop at 0.7620 – RISK = 65 x $10 - $650.00</li>\r\n	<li>NZD/USD: Entry at 0.7295 Stop at 0.7340 – RISK = 45 X $10 - $450.00</li>\r\n	<li>GBP/AUD: Entry at 1.8700 Stop at 1.8340 – RISK = 360 x $10 = $3,600.00</li>\r\n	<li>GBP/CAD: Entry at 1.8730 Stop at 1.8250 – RISK = 480 x $10 = $4,800.00</li>\r\n	<li>GBP/NZD: Entry at 2.0540 Stop at 1.9850 – RISK = 690 x $10 = $6,900.00\r\n(At one stage in January the PREMIUM SERVICE was LIVE with 9 trades)</li>\r\n</ol>\r\nAs the above trades stand – in order to trade them all with 1 x STANDARD LOT the risk on entering the trades totals $ 17,300.00, which is 17% of your trading account. Quite frankly, if anyone trades this way they deserve all that the market dishes out. The maximum RISK on a $100,000.00 broker account in my opinion should not be more than 3%, which is $3,000 and this should be limited to 0.5% per trade.\r\n\r\nThe easy calculation to do is as follows (this can be drilled down to all sizes of accounts): -\r\n\r\n$100,000.00 in your trading account 0.5% = $500.00 maximum risk per trade.\r\n$100,000.00 in your trading account 3.0% total risk = $3,000.00. Therefore it is six trades maximum at $500 risk per trade. This is the simplest way, in my opinion to trade.\r\n\r\nTherefore, as you can see even with a $100,000.00 Forex broker trading account, from my RISK PER TRADE standards within my TRADING PLAN, I could not have traded all the LIVE TRADES at once via STANDARD LOTS. A mixture of STANDARD and MINI lot trading was required. Only accounts with a minimum of at least $600,000.00 in my opinion could have traded the 1 x STANDARD LOT approach.\r\n\r\nYou have to be flexible, there are articles in the EDUCATION section of the PREMIUM SERVICE website for subscribers that refer to POSITION SIZING. This year so far trading ranges and stop placements are wider than 2014, it is different, but the principles are the same.\r\n\r\nAs I have written in the past, if you approach each trade based on the RISK, there is money to be made in the Forex Market.\r\n\r\nPOSITION SIZING is absolutely critical your success. Failure here will blow your accounts apart.\r\n\r\nAs a subscriber to the PREMIUM SERVICE you can make money from the Forex Market but you have to be disciplined.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\"><img class=\"aligncenter size-full wp-image-5214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\" alt=\"PS PROFIT-LOSS RATIOS JAN15\" width=\"414\" height=\"584\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – FLASH TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5216\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\" alt=\"FLASH1 JAN15\" width=\"497\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5217\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\" alt=\"FLASH2 JAN15\" width=\"520\" height=\"490\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5218\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\" alt=\"FLASH YTD JAN15\" width=\"338\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – RADAR TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5219\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\" alt=\"RADAR1 JAN15\" width=\"553\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5220\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\" alt=\"RADAR2 JAN15\" width=\"548\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5221\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\" alt=\"RADAR YTD JAN15\" width=\"353\" height=\"386\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – FUNDAMENTAL TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\"><img class=\"aligncenter size-full wp-image-5222\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\" alt=\"FUNDAMENTAL JAN15\" width=\"507\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\" alt=\"FUNDAMENTAL YTD JAN15\" width=\"363\" height=\"370\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5212\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\" alt=\"PREM SERV PROFITS1 JAN15\" width=\"458\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5213\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\" alt=\"PREM SERV PROFITS2 JAN15\" width=\"451\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n\r\nI apologize; there is no article ready this week.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\nBelow is the current spread sheet showing the existing live trades.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-LIVE-TRADES-01022015.png\"><img class=\"aligncenter size-full wp-image-5225\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-LIVE-TRADES-01022015.png\" alt=\"PS LIVE TRADES 01022015\" width=\"701\" height=\"479\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\nOn Friday I cancelled all the outstanding LIMIT ORDERS as I was away from my desk in Ottawa for a meeting.\r\n\r\nThe excel spreadsheet below shows multiple trades based on the weeks closing prices looking at LIMIT ORDER entries this week. They do not have reference numbers yet as NONE of them are placed with my brokers yet. As soon as I have them placed, an email and twitter alert (with chart, where applicable) will be posted for you.\r\n\r\nI have already mentioned in this blog that I see commodity currencies and commodity crosses being the focus of FX trading moving forward. It should therefore come as no surprise that given the volume of high beta news events on the horizon this week commodity related pairs feature extensively.\r\n\r\nBelow the spreadsheet you will see a series of charts relating the trades in the spreadsheet. There are comments on the charts that will be repeated on the EMAIL ALERT that will be produced if I go ahead and suggest the trade be taken.\r\n\r\nMy initial thoughts are based around the following pairs:\r\n\r\nGBP/USD and NZD/USD to the short side.\r\n\r\nUSD/CAD, USD/CHF, GBP/CAD and GBP/NZD to the long side.\r\n\r\nI want to see what the RBA says on Monday before looking to the AUD/USD and GBP/AUD plus any other AUD related pairs.\r\n\r\nI am also looking at the AUD/JPY with more seriousness than usual. As you know, this pair basically correlates most of the time to the moves in the S &amp; P index. It has been divergent from time to time of late, and this has generally been the reason behind me NOT taking the JPY pairs serious. However, I do see that value in U.S. equities is becoming harder and harder to find and therefore, when a pullback happens this pair should fall in line again with the S &amp; P and a short side trade would be FUNDAMENTALLY perfect. Should Glenn Stevens become more accommodative and dovish tomorrow night (EDT) when the RBA statement is released, this will cement this short side trade even further.\r\n\r\nAdditionally, I am looking at the NOK. I know many of you find the “Nordic” currencies painful to trade, as they are low pip value and very fast movers. But the NOK and MXN against the USD could be nice long trades if oil drops below $40. A leg lower next week with oil prices and these pairs could offer a nice quick return.\r\n\r\nI am still very bearish and hold EUR/USD and EUR/GBP short trades. I will add to these trades should we head lower towards the recent trend lows. I am conscious of bounces with the single currency; there are so many factors that can cause this which are mainly driven by the personalities involved in the EUROZONE and not the economic data. In the main the economic data is still concerning. Mild data looks to be bouncing on the bottom but the biggie is still DEFLATION. I have been harping on about this for months and feck all has really been done apart from jawboning.\r\n\r\nDEFLATION is a worldwide concern, especially USA, EUROZONE and JAPAN. FUNDAMENTALLY; GOLD should be on its knees begging for mercy at $700.00 or so. It is being bought up; to prop up the industry but this cannot continue forever. GOLD should be lower, based on FUNDAMENTALS, which should keep the USD strong. At some stage and I believe sooner rather than later a “SNB” event with GOLD is going to happen. This event will re-balance the whole financial services market, as we know it. It will make “SNB Day” look like a stroll in the park. Hence, the reason that GOLD is being so heavily supported…. in my opinion! From a trading perspective though, this FUNDAMENTALLY keeps me long the USD.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-TRADES-ON-MY-RADAR-01022015.png\"><img class=\"aligncenter size-full wp-image-5227\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-TRADES-ON-MY-RADAR-01022015.png\" alt=\"PS TRADES ON MY RADAR 01022015\" width=\"707\" height=\"399\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPUSD-240M-01022015.png\"><img class=\"aligncenter size-large wp-image-5231\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPUSD-240M-01022015-1024x479.png\" alt=\"GBPUSD 240M 01022015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/NZDUSD-MONTHLY-01022015.png\"><img class=\"aligncenter size-large wp-image-5230\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/NZDUSD-MONTHLY-01022015-1024x479.png\" alt=\"NZDUSD MONTHLY 01022015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/USDCAD-240-M-01022015.png\"><img class=\"aligncenter size-large wp-image-5229\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/USDCAD-240-M-01022015-1024x479.png\" alt=\"USDCAD 240 M 01022015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/USDCHF-60-MINUTE-02012015.png\"><img class=\"aligncenter size-large wp-image-5228\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/USDCHF-60-MINUTE-02012015-1024x479.png\" alt=\"USDCHF 60 MINUTE 02012015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPCAD-MONTHLY-01022015.png\"><img class=\"aligncenter size-large wp-image-5233\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPCAD-MONTHLY-01022015-1024x479.png\" alt=\"GBPCAD MONTHLY 01022015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPNZD-WEEKLY-01022015.png\"><img class=\"aligncenter size-large wp-image-5232\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/GBPNZD-WEEKLY-01022015-1024x479.png\" alt=\"GBPNZD WEEKLY 01022015\" width=\"1024\" height=\"479\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\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<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-TRENDING-PAIRS-01022015.png\"><img class=\"aligncenter size-full wp-image-5224\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-TRENDING-PAIRS-01022015.png\" alt=\"PS TRENDING PAIRS 01022015\" width=\"416\" height=\"546\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1280.</strong> We have had a little bounce with the EUR/USD, which was expected after the huge sell-off. I have held a short position for a few days now expecting a return lower with the overall bearish trend. Once again on Friday last week, Greece was in the news about non- compliance / negotiation with Troika and on the back of this the EUR/USD came under pressure. Something is going on with Russia. Cyprus and Greece are very close, geographically, historically and population wise, the Russians were financially all over Cyprus…I get a connection / smell a rat. Support is 1.1250 initially and resistance is good at 1.1440.\r\n\r\n<strong>GBP/USD: Closing Price 1.5049</strong>. 1.5000 held again on Friday, this would appear to be the support level to break to head lower to 1.4950 and then 1.4870.Resistance is good at 1.5120. I am just not 100% certain which direction to trade the cable. Up until Friday last week it had been range bound trapped between 1.5000 and 1.5100, with attempts to break higher. This action was keeping all the GBP commodity crosses in play as the AUD and NZD currencies weakened. I want this to remain the case this week and beyond, in fact, I also want equities to rollover lower so that RISK OFF trades are back in vogue. My bias is shorting the cable in sympathy with the EUR. In addition some nice USD strength would also help my FUNDAMENTAL views.\r\n\r\n<strong>AUD/USD: Closing Price 0.7753</strong>. A nice drop of over 100 pips in the past 7 days trading, and, the fun continues as it is a big night tomorrow (Monday EDT) with the interest rate statement. There were rumours of a rate cut on the back of the BOC surprise rate cut last week. These have been denied, so it could be a jawboning exercise and a change in the vocabulary in the policy statement that has an effect on the AUD currency. I am expecting a hold on interest rate rises and a very compliant, dovish statement. We are trading in a nice trading range at the moment of 0.7720 to 0.7820.\r\n\r\n<strong>NZD/USD: Closing Price 0.7240</strong>. The RBNZ turned dovish last week. The double top pattern on the weekly chart is now in play and we are targeting lows in a measured move of around 0.6000. Happy days and drinks all round if this move plays out. The next support from existing levels is at 0.7230 then at 0.7070 and resistance is at 0.7310.\r\n\r\n<strong>USD/CAD: Closing Price 1.2729.</strong> This pair is in a very bullish trend. I think we are on our way to 1.3000. Support is at 1.2620 and resistance after 1.2700 is at 1.2790. As long as the price of oil remains heavy the CAD currency should weaken overall. Personally, I think that Oil will eventually find a bottom but I think that it will have to get to maybe the mid $30’s a barrel first.\r\n\r\n<strong>USD/CHF: Closing Price 0.9180</strong>. We are starting to see patterns and moves on the charts again. Many brokers have tightened up on trading CHF pairs, although there looks to be opportunities coming up. I am looking at 0.9160 offering some support and 0.9300 is the next resistance.\r\n\r\n<strong>USD/JPY: Closing Price 117.47. </strong> The JPY is still rangey and I still think prime for a big move. The range is 116.50 to 118.50.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\n&nbsp;\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n<span style=\"line-height: 1.5;\">MONDAY: AUD – RBA Rate Statement.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\n\r\nTUESDAY: NZD – Unemployment Data and GDT index.\r\nTUESDAY: NZD – RBNZ Governor Wheeler Speaks.\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: USD – ISM non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate and maybe a MPC Rate Statement.\r\nTHURSDAY: CAD – Trade Balance.\r\nTHURSDAY: USD – Trade Balance.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Unemployment Data.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis is a very big week on news.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT','','inherit','open','closed','','5237-revision-v1','','','2015-02-01 03:43:27','2015-02-01 08:43:27','',5237,'https://weeklyfxdrivethru.com/5237-revision-v1/',0,'revision','',0);
INSERT INTO `vp_backup_wp_posts` VALUES (5241,1,'2015-02-01 04:09:05','2015-02-01 09:09:05','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.02.2015\r\nREFERENCE: #137\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nWhat a fascinating week of trading. It was probably, one of my most successful weeks in recent times.\r\n\r\nGiven all the shenanigans of the month: - the surprise SNB EUR/CHF peg removal, the ECB with the Draghi QE announcement, the BOC surprise rate cut, the FED remaining vague and patient, and finally, the RBNZ change in monetary policy to being more accommodative “Dovish”. The big news events last month were in fact “mega” news events, whether they were planned or not. To have these types of news event, the likes of which, we may only see once in a lifetime, and, and to have them all in the same month (plus some surprises), certainly raised not just eyebrows but stress levels as well.\r\n\r\nThe fallout from the SNB continues to roll on, there are now reports surfacing about how much individual brokers lost, plus who is forgiving and who is not forgiving negative balances. I am still waiting on FXCM to advise me what is happening with my loss.\r\n\r\nMoving on, the big news events this week are: -\r\n<ul>\r\n	<li>RBA Interest Rate Statement</li>\r\n	<li>RBNZ Governor Graeme Wheeler</li>\r\n	<li>PMi Data from China, UK, Canada and U.S.</li>\r\n	<li>AUD, CAD and U.S. Trade Balances.</li>\r\n	<li>CAD, NZD and U.S. Employment Data including Non-Farm Payrolls.</li>\r\n</ul>\r\nSo…. It is a very big FX week, and, we should expect a surprise, maybe not a rate cut but maybe a more “Dovish” statement from RBA Governor Glenn Stevens.\r\n\r\nThe “D” word, to you and me “DEFLATION” is now being quoted more often than the wimpish EUROZONE and Ben Bernanke’s “D” word - “DIS-INFLATION” version, so the PMi and Trade Balance numbers will be very closely watched. Literally, every day this week brings us something to trade around.\r\n\r\nThe markets are very skittish at the moment, the U.S. indices that lead the world are moving very strangely and look to be at levels that are prime for a pullback, but I have been saying that for about two years to no avail… One time I will be right….\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT</strong></p>\r\nOver the past week or so it has become increasingly obvious that commodity currencies and in particular the commodity cross rates have been very much the flavour of making $$$ out of the Forex market.\r\n\r\nAll of the fall-out with the USD following the SNB and the ECB has meant that the DXY is testing major resistance levels and as a result the USD has tended to consolidate its recent moves. The EUR/USD had a monumental move lower on the back of ECB announcement of its QE program. Thus, the move in the USD took on an overbought picture and we need to allow time for consolidation before the recent DXY highs are re-tested.\r\n\r\nThe commodity currencies, AUD, NZD and CAD have whilst all the attention has been focused on the EUR/USD, weakened quite dramatically.\r\n\r\nAs you are probably aware there is a worldwide sell-off of commodities in general and therefore it stands to reason that the commodity currencies would be affected.\r\n\r\nInitially our focus was on OIL. The USD/CAD broke out to the long side on the back of Oil weakness. There is a glut of supply over demand, which, is usually enough to drive a market but we have to add into this market the fact that it is full of hedge fund speculators (this is a news event on the horizon with losses) that quite frankly distort all parameters. Moving on…. This created the leap higher like a “pop-tart from your toaster” and the USD/CAD, looks like it is relentlessly heading towards 1.3000. Where is OIL going to find a bottom, probably sub $40.00, before it sees some support and value. The Canadian economy is not 100% reliant on Oil. It is not a 100% Oil based economy although it is hugely important, so much so that combined with the commodity sell-off it was enough to cause Stephen Poloz, Governor of the Bank of Canada, sufficient concern to cut the BOC overnight rate by 0.25%. This action further weakened the Canadian currency.\r\n\r\nThe knock on effect, Graeme Wheeler at the RBNZ took a more dovish stance in his recent monetary policy statement and the RBA meets this week, so all eyes will be on governor, Glenn Stevens to see what he does. Rumored rate cuts have been denied. But I strongly suspect a greater more accommodative statement at the very least this Tuesday (EDT).\r\n\r\nIt all leans towards a direction that we can trade. If you only trade the USD majors with the Central banks giving direction from the monetary policy statements, go with the flow.\r\n<p style=\"text-align: center;\"><strong>NZD/USD and AUD/USD – short</strong>\r\n<strong> USD/CAD - long</strong></p>\r\nI have written extensively over the past 12 months about the effects of the Central Banks on the Forex Market (I wrote a huge piece last week on this subject).\r\n\r\nIf you are a trader that doesn’t mind a little more risk and greater volatility, you can also look at trading the commodity currency cross-rates.\r\n<p style=\"text-align: center;\"><strong>EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD</strong></p>\r\nThere are more pairs involving the AUD and CHF, but the ones above are the main ones. Moves with these pairs have been particularly strong to the upside, as the commodity currencies have weakened. Personally, through the PREMIUM SERVICE I have been trading mainly the GBP related pairs due to the on-going EUROZONE situation casting a cloud over my desire to trade the EUR anything to the long side.\r\n\r\nFor the foreseeable future commodity pairs and commodity crosses should be, in my opinion, the cornerstone, of your Forex trading strategy.\r\n\r\n(In using the word cornerstone, I realize this was used by the SNB 48 hours prior to the peg removal, when confirming to the media “the EUR/CHF Peg was the cornerstone of the SNB monetary policy”….it is a great word!!!)\r\n\r\nThe commodity crosses are rallying when equities are consolidating and moving upwards. Can you just imagine what would happen if equities start to pullback?\r\n\r\nI took time out the other day for an hour or so and caught some CNBC, which has extensive coverage of the current earnings season. This will have a direct impact on the equity markets.\r\n\r\nHere’s what is rolling around in my brain right now... this minute: - My God with 30 seconds of watching CNBC I was on the roof checking the tiles/shingles…\r\n\r\nI heard so many companies lay the blame for poor quarterly earnings on the strength of the USD.\r\n\r\nLet me just think….\r\n<ul>\r\n	<li>When the USD was weaker, there was no mention of the opposite tailwinds that a weaker USD offered … it was just like, “we are just brilliant managers in these desperate times”</li>\r\n	<li>After the 2008-9 crash, U.S. companies to stay afloat, bolted down, cut out jobs to improve costs as demand for goods decreased so that they could continue to supply Wall Street with good earnings.</li>\r\n	<li>As the economy improved, U.S. companies did not hire extra staff to cope with increased volumes… they kept wages low and they banked the extra cash that was generated.</li>\r\n	<li>To satisfy Wall Street, using the cash on the balance sheet they started to buy back shares to improve the EPS (Earnings Per Share ratio) to satisfy investors and the Wall Street analysts. The analysts on Wall Street are generally so poor that no one ever really challenged the fact that the balance sheet top line of “Sales Income” hardly moved higher or in fact actually decreased. The EPS measurement was great though!!</li>\r\n	<li>Last year the ever-supportive FED announced Tapering; QE would be brought to completion. The liquidity (printing presses) would be reduced month by month until zero and then the policy of low interest rates would change to a policy of raising interest rates. This meant a weak USD would, because of a change to increasing interest rates, become a strong USD. This was well advertised over 12 months ago.</li>\r\n	<li>Oil has sold off by more than 50% of its early 2014 price per barrel. This effectively gives consumers an instant tax cut as the savings are there every time a fuel tank is filled. Businesses also benefit from lower Oil prices through lower production and transportation costs. Oil is directly linked to the USD as Oil is priced in dollars. As OIL decreases this helps strengthen the USD.</li>\r\n</ul>\r\nMy thoughts now….\r\n<ul>\r\n	<li>The U.S. companies reporting weak earnings have in my opinion, been guilty of burying their heads in the sand. It is basic, pure and simple poor management.</li>\r\n	<li>All of the above has been known about or started over a year ago. To use a strong USD as an excuse is pathetic. Yes it has an effect, but my God these people are paid to manage; in many cases they are just not good enough.</li>\r\n	<li>Wages have not been increasing, the U.S. unemployment data accuracy is questionable, and there is little inflation in the world, more like DEFLATION.</li>\r\n	<li>Commodity prices are continually heading lower; no one is buying finished goods, so why produce them? So commodity prices drop even more. It is a vicious circle.</li>\r\n	<li>Consumers obviously do not feel confident to buy. It would appear that they are saving or paying down debt when the opportunity arises.</li>\r\n	<li>The last set of U.S. data for retail sales was weak… It was the biggest sales quarter and it was poor data.</li>\r\n</ul>\r\nAll of the above, business incompetence included leads to weaker commodities and weaker commodity currencies.\r\n\r\nEventually, the equity markets will smell the coffee. I do not have much faith in most U.S. businesses, as they appear to be as dysfunctional as Washington at times. They just want the FED to support them forever… infinity. What gets the U.S. economy moving in all forward gears is enough for another blog.\r\n\r\nI have written so many times in the past, its all about commodities, commodities drive the markets and everything else follows, there may be a lag but the rest eventually follows.\r\n\r\nEquities are at the precipice once again, should they rollover, in my opinion the commodity currencies are the trades to look at.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">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.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: left;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was for the PREMIUM SERVICE a great week. What began as a difficult month turned out to be a great month when all the statistics were collated? I wrote last week, that following events such as SNB Day, if you lost money, it’s all about the way you pick yourself up and move forward. As mentioned earlier, the commodity currencies and commodity cross-rate pairs saved the month.\r\n\r\nIf you look at the currency moves for the past month, using only the relationships between the G7 basket of currencies the CHF obviously on the back of SNB action was the strongest mover in January.\r\n\r\nCHF    +75.56% - power of the SNB EUR/CHF Peg removal.\r\nJPY     +32.55%\r\nUSD   +21.06% - FED policy / oil / help from ECB.\r\nGBP    -3.89%\r\nAUD    -16.49% - Commodity sell-off / China fears.\r\nEUR   -29.10% - ECB QE policy announcement.\r\nNZD    -33.79% - RBNZ more dovish stance / commodity sell-off / China fears.\r\nCAD    -45.90% - weaker Oil / commodity sell off / BOC rate cut dovish stance.\r\n(Source: Forex Live)\r\n\r\nThe PREMIUM SERVICE closed on 51 trades during the month of January 2015. 40 of those trades were profitable (78%) and 11 were loss-producing trades (22%).\r\n\r\nThe major aspect of trading that stands out, is that overall I never made a profit from my RADAR TRADES. The reason being trades from SNB day, created substantial pip losses from which I was never able to fully recover from.\r\n\r\nI also cancelled more trades than ever last month, due to the increasing market volatility, which caused me huge issues at times, as I did not want to post potential higher risk trades to PREMIUM SERVICE subscribers.\r\n<p style=\"text-align: left;\"><strong>Total pips generated in profitable trades this month: - 1,813 pips.</strong></p>\r\n<p style=\"text-align: left;\"><strong>The income from trades was as follows: -</strong>\r\n<strong>MICRO LOT TRADERS:                 51 trades cost $5.10 = return of $181.30.</strong>\r\n<strong><span style=\"line-height: 1.5;\">MINI LOT TRADERS:                      51 trades cost $51.00 = return of $1,813.00.\r\n</span>STANDARD LOT TRADERS:         51 trades cost $510.00 = return of $18,130.00.    </strong></p>\r\nWhilst these numbers represent a great return, they do not tell the full story. Position Sizing is a major consideration in volatile trading conditions.\r\n\r\nIt was in January easier to generate the pips than it was to bank the cash due to RISK MANAGEMENT. Compromise on POSITION SIZING was the order of the day to MANAGE RISK properly. Yes, you could make a return but the size of your broker account determined the return you could make due to RISK MANAGEMENT.\r\n\r\nLet me elaborate a little further….\r\n\r\nIn January to keep “TRADES ALIVE” stop loss levels were a little wider than usual. Last year ATR’s (Average True Ranges) in may pairs shrank and a typical stop was set maybe 40-50 pips away from the entry level.\r\n\r\nWhen suggesting trades this year, the ranges have increased a little as the volatility has also increased. This has meant that pivots and Fibonacci levels have been a little wider.\r\n\r\nThis is exacerbated with the exotic pairs, which were more volatile anyway because they see less flow and are more illiquid. This means that a previous 400 pip stop on a longer-term exotic pair may now be 500-600 pips and wider if I see the trade as a FUNDAMENTAL TRADE set-up. The wider the stop, the greater the risk, to me says take a smaller position size. When trading exotics I would always recommend taking at least only 25% of what you would usually trade as your maximum position size anyway.\r\n\r\nThe mix of trade-set ups is also interesting between USD majors and the rest.\r\n\r\nThe bottom line is that for most traders unless you manage your position sizes correctly you are limited to the number of live trades that you should take on board using RISK EXPOSURE.\r\n\r\nLet me provide an example based on a STANDARD LOT trader with a typical $100,000.00 balance in his broker account. To keep this simple I am only looking at the position of the STOP in number of pips away from the entry level.\r\n\r\nTRADE SET-UPS suggested from the PREMIUM SERVICE:\r\n(All trades are assumed to be single lot trades at a value of $10.00 each trade)\r\n(My trade limit RISK per trade is 0.5%)\r\n(Total “LIVE” RISK should be no more than 3%)\r\n<ol>\r\n	<li>EUR/USD: Entry at 1.1360 Stop at 1.1450 – RISK = 90 x $10 - $900.00</li>\r\n	<li>EUR/GBP: Entry at 0.7550 Stop at 0.7620 – RISK = 65 x $10 - $650.00</li>\r\n	<li>NZD/USD: Entry at 0.7295 Stop at 0.7340 – RISK = 45 X $10 - $450.00</li>\r\n	<li>GBP/AUD: Entry at 1.8700 Stop at 1.8340 – RISK = 360 x $10 = $3,600.00</li>\r\n	<li>GBP/CAD: Entry at 1.8730 Stop at 1.8250 – RISK = 480 x $10 = $4,800.00</li>\r\n	<li>GBP/NZD: Entry at 2.0540 Stop at 1.9850 – RISK = 690 x $10 = $6,900.00\r\n(At one stage in January the PREMIUM SERVICE was LIVE with 9 trades)</li>\r\n</ol>\r\nAs the above trades stand – in order to trade them all with 1 x STANDARD LOT the risk on entering the trades totals $ 17,300.00, which is 17% of your trading account. Quite frankly, if anyone trades this way they deserve all that the market dishes out. The maximum RISK on a $100,000.00 broker account in my opinion should not be more than 3%, which is $3,000 and this should be limited to 0.5% per trade.\r\n\r\nThe easy calculation to do is as follows (this can be drilled down to all sizes of accounts): -\r\n\r\n$100,000.00 in your trading account 0.5% = $500.00 maximum risk per trade.\r\n$100,000.00 in your trading account 3.0% total risk = $3,000.00. Therefore it is six trades maximum at $500 risk per trade. This is the simplest way, in my opinion to trade.\r\n\r\nTherefore, as you can see even with a $100,000.00 Forex broker trading account, from my RISK PER TRADE standards within my TRADING PLAN, I could not have traded all the LIVE TRADES at once via STANDARD LOTS. A mixture of STANDARD and MINI lot trading was required. Only accounts with a minimum of at least $600,000.00 in my opinion could have traded the 1 x STANDARD LOT approach.\r\n\r\nYou have to be flexible, there are articles in the EDUCATION section of the PREMIUM SERVICE website for subscribers that refer to POSITION SIZING. This year so far trading ranges and stop placements are wider than 2014, it is different, but the principles are the same.\r\n\r\nAs I have written in the past, if you approach each trade based on the RISK, there is money to be made in the Forex Market.\r\n\r\nPOSITION SIZING is absolutely critical your success. Failure here will blow your accounts apart.\r\n\r\nAs a subscriber to the PREMIUM SERVICE you can make money from the Forex Market but you have to be disciplined\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\"><img class=\"aligncenter size-full wp-image-5214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\" alt=\"PS PROFIT-LOSS RATIOS JAN15\" width=\"414\" height=\"584\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – FLASH TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5216\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\" alt=\"FLASH1 JAN15\" width=\"497\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5217\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\" alt=\"FLASH2 JAN15\" width=\"520\" height=\"490\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5218\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\" alt=\"FLASH YTD JAN15\" width=\"338\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – RADAR TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5219\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\" alt=\"RADAR1 JAN15\" width=\"553\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5220\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\" alt=\"RADAR2 JAN15\" width=\"548\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5221\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\" alt=\"RADAR YTD JAN15\" width=\"353\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – FUNDAMENTAL TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\"><img class=\"aligncenter size-full wp-image-5222\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\" alt=\"FUNDAMENTAL JAN15\" width=\"507\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\" alt=\"FUNDAMENTAL YTD JAN15\" width=\"363\" height=\"370\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5212\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\" alt=\"PREM SERV PROFITS1 JAN15\" width=\"458\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5213\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\" alt=\"PREM SERV PROFITS2 JAN15\" width=\"451\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong></p>\r\n<p style=\"text-align: center;\"><strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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).\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: 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.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<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>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\n&nbsp;\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n<span style=\"line-height: 1.5;\">MONDAY: AUD – RBA Rate Statement.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Unemployment Data and GDT index.\r\n<span style=\"line-height: 1.5;\">TUESDAY: NZD – RBNZ Governor Wheeler Speaks.</span>\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: USD – ISM non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate and maybe a MPC Rate Statement.\r\nTHURSDAY: CAD – Trade Balance.\r\nTHURSDAY: USD – Trade Balance.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Unemployment Data.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis is a very big week on news.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT','','publish','open','closed','','commodity-currencies-focus-fx-trading-moment','','','2015-02-01 04:09:05','2015-02-01 09:09:05','',0,'https://weeklyfxdrivethru.com/?p=5241',0,'post','',0),(5242,1,'2015-02-01 04:06:50','2015-02-01 09:06:50','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.02.2015\r\nREFERENCE: #137\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nWhat a fascinating week of trading. It was probably, one of my most successful weeks in recent times.\r\n\r\nGiven all the shenanigans of the month: - the surprise SNB EUR/CHF peg removal, the ECB with the Draghi QE announcement, the BOC surprise rate cut, the FED remaining vague and patient, and finally, the RBNZ change in monetary policy to being more accommodative “Dovish”. The big news events last month were in fact “mega” news events, whether they were planned or not. To have these types of news event, the likes of which, we may only see once in a lifetime, and, and to have them all in the same month (plus some surprises), certainly raised not just eyebrows but stress levels as well.\r\n\r\nThe fallout from the SNB continues to roll on, there are now reports surfacing about how much individual brokers lost, plus who is forgiving and who is not forgiving negative balances. I am still waiting on FXCM to advise me what is happening with my loss.\r\n\r\nMoving on, the big news events this week are: -\r\n<ul>\r\n	<li>RBA Interest Rate Statement</li>\r\n	<li>RBNZ Governor Graeme Wheeler</li>\r\n	<li>PMi Data from China, UK, Canada and U.S.</li>\r\n	<li>AUD, CAD and U.S. Trade Balances.</li>\r\n	<li>CAD, NZD and U.S. Employment Data including Non-Farm Payrolls.</li>\r\n</ul>\r\nSo…. It is a very big FX week, and, we should expect a surprise, maybe not a rate cut but maybe a more “Dovish” statement from RBA Governor Glenn Stevens.\r\n\r\nThe “D” word, to you and me “DEFLATION” is now being quoted more often than the whimpish EUROZONE and Ben Bernanke’s “D” word - “DIS-INFLATION” version, so the PMi and Trade Balance numbers will be very closely watched. Literally, every day this week brings us something to trade around.\r\n\r\nThe markets are very skittish at the moment, the U.S. indices that lead the world are moving very strangely and look to be at levels that are prime for a pullback, but I have been saying that for about two years to no avail… One time I will be right….\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT</strong></p>\r\nOver the past week or so it has become increasingly obvious that commodity currencies and in particular the commodity cross rates have been very much the flavour of making $$$ out of the Forex market.\r\n\r\nAll of the fall-out with the USD following the SNB and the ECB has meant that the DXY is testing major resistance levels and as a result the USD has tended to consolidate its recent moves. The EUR/USD had a monumental move lower on the back of ECB announcement of its QE program. Thus, the move in the USD took on an overbought picture and we need to allow time for consolidation before the recent DXY highs are re-tested.\r\n\r\nThe commodity currencies, AUD, NZD and CAD have whilst all the attention has been focused on the EUR/USD, weakened quite dramatically.\r\n\r\nAs you are probably aware there is a worldwide sell-off of commodities in general and therefore it stands to reason that the commodity currencies would be affected.\r\n\r\nInitially our focus was on OIL. The USD/CAD broke out to the long side on the back of Oil weakness. There is a glut of supply over demand, which, is usually enough to drive a market but we have to add into this market the fact that it is full of hedge fund speculators (this is a news event on the horizon with losses) that quite frankly distort all parameters. Moving on…. This created the leap higher like a “pop-tart from your toaster” and the USD/CAD, looks like it is relentlessly heading towards 1.3000. Where is OIL going to find a bottom, probably sub $40.00, before it sees some support and value. The Canadian economy is not 100% reliant on Oil. It is not a 100% Oil based economy although it is hugely important, so much so that combined with the commodity sell-off it was enough to cause Stephen Poloz, Governor of the Bank of Canada, sufficient concern to cut the BOC overnight rate by 0.25%. This action further weakened the Canadian currency.\r\n\r\nThe knock on effect, Graeme Wheeler at the RBNZ took a more dovish stance in his recent monetary policy statement and the RBA meets this week, so all eyes will be on governor, Glenn Stevens to see what he does. Rumored rate cuts have been denied. But I strongly suspect a greater more accommodative statement at the very least this Tuesday (EDT).\r\n\r\nIt all leans towards a direction that we can trade. If you only trade the USD majors with the Central banks giving direction from the monetary policy statements, go with the flow.\r\n<p style=\"text-align: center;\"><strong>NZD/USD and AUD/USD – short</strong>\r\n<strong> USD/CAD - long</strong></p>\r\nI have written extensively over the past 12 months about the effects of the Central Banks on the Forex Market (I wrote a huge piece last week on this subject).\r\n\r\nIf you are a trader that doesn’t mind a little more risk and greater volatility, you can also look at trading the commodity currency cross-rates.\r\n<p style=\"text-align: center;\"><strong>EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD</strong></p>\r\nThere are more pairs involving the AUD and CHF, but the ones above are the main ones. Moves with these pairs have been particularly strong to the upside, as the commodity currencies have weakened. Personally, through the PREMIUM SERVICE I have been trading mainly the GBP related pairs due to the on-going EUROZONE situation casting a cloud over my desire to trade the EUR anything to the long side.\r\n\r\nFor the foreseeable future commodity pairs and commodity crosses should be, in my opinion, the cornerstone, of your Forex trading strategy.\r\n\r\n(In using the word cornerstone, I realize this was used by the SNB 48 hours prior to the peg removal, when confirming to the media “the EUR/CHF Peg was the cornerstone of the SNB monetary policy”….it is a great word!!!)\r\n\r\nThe commodity crosses are rallying when equities are consolidating and moving upwards. Can you just imagine what would happen if equities start to pullback?\r\n\r\nI took time out the other day for an hour or so and caught some CNBC, which has extensive coverage of the current earnings season. This will have a direct impact on the equity markets.\r\n\r\nHere’s what is rolling around in my brain right now... this minute: - My God with 30 seconds of watching CNBC I was on the roof checking the tiles/shingles…\r\n\r\nI heard so many companies lay the blame for poor quarterly earnings on the strength of the USD.\r\n\r\nLet me just think….\r\n<ul>\r\n	<li>When the USD was weaker, there was no mention of the opposite tailwinds that a weaker USD offered … it was just like, “we are just brilliant managers in these desperate times”</li>\r\n	<li>After the 2008-9 crash, U.S. companies to stay afloat, bolted down, cut out jobs to improve costs as demand for goods decreased so that they could continue to supply Wall Street with good earnings.</li>\r\n	<li>As the economy improved, U.S. companies did not hire extra staff to cope with increased volumes… they kept wages low and they banked the extra cash that was generated.</li>\r\n	<li>To satisfy Wall Street, using the cash on the balance sheet they started to buy back shares to improve the EPS (Earnings Per Share ratio) to satisfy investors and the Wall Street analysts. The analysts on Wall Street are generally so poor that no one ever really challenged the fact that the balance sheet top line of “Sales Income” hardly moved higher or in fact actually decreased. The EPS measurement was great though!!</li>\r\n	<li>Last year the ever-supportive FED announced Tapering; QE would be brought to completion. The liquidity (printing presses) would be reduced month by month until zero and then the policy of low interest rates would change to a policy of raising interest rates. This meant a weak USD would, because of a change to increasing interest rates, become a strong USD. This was well advertised over 12 months ago.</li>\r\n	<li>Oil has sold off by more than 50% of its early 2014 price per barrel. This effectively gives consumers an instant tax cut as the savings are there every time a fuel tank is filled. Businesses also benefit from lower Oil prices through lower production and transportation costs. Oil is directly linked to the USD as Oil is priced in dollars. As OIL decreases this helps strengthen the USD.</li>\r\n</ul>\r\nMy thoughts now….\r\n<ul>\r\n	<li>The U.S. companies reporting weak earnings have in my opinion, been guilty of burying their heads in the sand. It is basic, pure and simple poor management.</li>\r\n	<li>All of the above has been known about or started over a year ago. To use a strong USD as an excuse is pathetic. Yes it has an effect, but my God these people are paid to manage; in many cases they are just not good enough.</li>\r\n	<li>Wages have not been increasing, the U.S. unemployment data accuracy is questionable, and there is little inflation in the world, more like DEFLATION.</li>\r\n	<li>Commodity prices are continually heading lower; no one is buying finished goods, so why produce them? So commodity prices drop even more. It is a vicious circle.</li>\r\n	<li>Consumers obviously do not feel confident to buy. It would appear that they are saving or paying down debt when the opportunity arises.</li>\r\n	<li>The last set of U.S. data for retail sales was weak… It was the biggest sales quarter and it was poor data.</li>\r\n</ul>\r\nAll of the above, business incompetence included leads to weaker commodities and weaker commodity currencies.\r\n\r\nEventually, the equity markets will smell the coffee. I do not have much faith in most U.S. businesses, as they appear to be as dysfunctional as Washington at times. They just want the FED to support them forever… infinity. What gets the U.S. economy moving in all forward gears is enough for another blog.\r\n\r\nI have written so many times in the past, its all about commodities, commodities drive the markets and everything else follows, there may be a lag but the rest eventually follows.\r\n\r\nEquities are at the precipice once again, should they rollover, in my opinion the commodity currencies are the trades to look at.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">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.\r\n\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong></p>\r\n<p style=\"text-align: center;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was for the PREMIUM SERVICE a great week. What began as a difficult month turned out to be a great month when all the statistics were collated? I wrote last week, that following events such as SNB Day, if you lost money, it’s all about the way you pick yourself up and move forward. As mentioned earlier, the commodity currencies and commodity cross-rate pairs saved the month.\r\n\r\nIf you look at the currency moves for the past month, using only the relationships between the G7 basket of currencies the CHF obviously on the back of SNB action was the strongest mover in January.\r\n\r\nCHF    +75.56% - power of the SNB EUR/CHF Peg removal.\r\nJPY     +32.55%\r\nUSD   +21.06% - FED policy / oil / help from ECB.\r\nGBP    -3.89%\r\nAUD    -16.49% - Commodity sell-off / China fears.\r\nEUR   -29.10% - ECB QE policy announcement.\r\nNZD    -33.79% - RBNZ more dovish stance / commodity sell-off / China fears.\r\nCAD    -45.90% - weaker Oil / commodity sell off / BOC rate cut dovish stance.\r\n(Source: Forex Live)\r\n\r\nThe PREMIUM SERVICE closed on 51 trades during the month of January 2015. 40 of those trades were profitable (78%) and 11 were loss-producing trades (22%).\r\n\r\nThe major aspect of trading that stands out, is that overall I never made a profit from my RADAR TRADES. The reason being trades from SNB day, created substantial pip losses from which I was never able to fully recover from.\r\n\r\nI also cancelled more trades than ever last month, due to the increasing market volatility, which caused me huge issues at times, as I did not want to post potential higher risk trades to PREMIUM SERVICE subscribers.\r\n<p style=\"text-align: center;\"><strong>Total pips generated in profitable trades this month: - 1,813 pips.</strong></p>\r\n<p style=\"text-align: center;\"><strong>The income from trades was as follows: -</strong>\r\n<strong>MICRO LOT TRADERS:                 51 trades cost $5.10 = return of $181.30.</strong>\r\n<strong><span style=\"line-height: 1.5;\">MINI LOT TRADERS:                      51 trades cost $51.00 = return of $1,813.00.\r\n</span>STANDARD LOT TRADERS:         51 trades cost $510.00 = return of $18,130.00.    </strong></p>\r\nWhilst these numbers represent a great return, they do not tell the full story. Position Sizing is a major consideration in volatile trading conditions.\r\n\r\nIt was in January easier to generate the pips than it was to bank the cash due to RISK MANAGEMENT. Compromise on POSITION SIZING was the order of the day to MANAGE RISK properly. Yes, you could make a return but the size of your broker account determined the return you could make due to RISK MANAGEMENT.\r\n\r\nLet me elaborate a little further….\r\n\r\nIn January to keep “TRADES ALIVE” stop loss levels were a little wider than usual. Last year ATR’s (Average True Ranges) in may pairs shrank and a typical stop was set maybe 40-50 pips away from the entry level.\r\n\r\nWhen suggesting trades this year, the ranges have increased a little as the volatility has also increased. This has meant that pivots and Fibonacci levels have been a little wider.\r\n\r\nThis is exacerbated with the exotic pairs, which were more volatile anyway because they see less flow and are more illiquid. This means that a previous 400 pip stop on a longer-term exotic pair may now be 500-600 pips and wider if I see the trade as a FUNDAMENTAL TRADE set-up. The wider the stop, the greater the risk, to me says take a smaller position size. When trading exotics I would always recommend taking at least only 25% of what you would usually trade as your maximum position size anyway.\r\n\r\nThe mix of trade-set ups is also interesting between USD majors and the rest.\r\n\r\nThe bottom line is that for most traders unless you manage your position sizes correctly you are limited to the number of live trades that you should take on board using RISK EXPOSURE.\r\n\r\nLet me provide an example based on a STANDARD LOT trader with a typical $100,000.00 balance in his broker account. To keep this simple I am only looking at the position of the STOP in number of pips away from the entry level.\r\n\r\nTRADE SET-UPS suggested from the PREMIUM SERVICE:\r\n(All trades are assumed to be single lot trades at a value of $10.00 each trade)\r\n(My trade limit RISK per trade is 0.5%)\r\n(Total “LIVE” RISK should be no more than 3%)\r\n<ol>\r\n	<li>EUR/USD: Entry at 1.1360 Stop at 1.1450 – RISK = 90 x $10 - $900.00</li>\r\n	<li>EUR/GBP: Entry at 0.7550 Stop at 0.7620 – RISK = 65 x $10 - $650.00</li>\r\n	<li>NZD/USD: Entry at 0.7295 Stop at 0.7340 – RISK = 45 X $10 - $450.00</li>\r\n	<li>GBP/AUD: Entry at 1.8700 Stop at 1.8340 – RISK = 360 x $10 = $3,600.00</li>\r\n	<li>GBP/CAD: Entry at 1.8730 Stop at 1.8250 – RISK = 480 x $10 = $4,800.00</li>\r\n	<li>GBP/NZD: Entry at 2.0540 Stop at 1.9850 – RISK = 690 x $10 = $6,900.00\r\n(At one stage in January the PREMIUM SERVICE was LIVE with 9 trades)</li>\r\n</ol>\r\nAs the above trades stand – in order to trade them all with 1 x STANDARD LOT the risk on entering the trades totals $ 17,300.00, which is 17% of your trading account. Quite frankly, if anyone trades this way they deserve all that the market dishes out. The maximum RISK on a $100,000.00 broker account in my opinion should not be more than 3%, which is $3,000 and this should be limited to 0.5% per trade.\r\n\r\nThe easy calculation to do is as follows (this can be drilled down to all sizes of accounts): -\r\n\r\n$100,000.00 in your trading account 0.5% = $500.00 maximum risk per trade.\r\n$100,000.00 in your trading account 3.0% total risk = $3,000.00. Therefore it is six trades maximum at $500 risk per trade. This is the simplest way, in my opinion to trade.\r\n\r\nTherefore, as you can see even with a $100,000.00 Forex broker trading account, from my RISK PER TRADE standards within my TRADING PLAN, I could not have traded all the LIVE TRADES at once via STANDARD LOTS. A mixture of STANDARD and MINI lot trading was required. Only accounts with a minimum of at least $600,000.00 in my opinion could have traded the 1 x STANDARD LOT approach.\r\n\r\nYou have to be flexible, there are articles in the EDUCATION section of the PREMIUM SERVICE website for subscribers that refer to POSITION SIZING. This year so far trading ranges and stop placements are wider than 2014, it is different, but the principles are the same.\r\n\r\nAs I have written in the past, if you approach each trade based on the RISK, there is money to be made in the Forex Market.\r\n\r\nPOSITION SIZING is absolutely critical your success. Failure here will blow your accounts apart.\r\n\r\nAs a subscriber to the PREMIUM SERVICE you can make money from the Forex Market but you have to be disciplined\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\"><img class=\"aligncenter size-full wp-image-5214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\" alt=\"PS PROFIT-LOSS RATIOS JAN15\" width=\"414\" height=\"584\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – FLASH TRADES: TRADE BY TRADE (JANUARY 2015):\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5216\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\" alt=\"FLASH1 JAN15\" width=\"497\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5217\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\" alt=\"FLASH2 JAN15\" width=\"520\" height=\"490\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5218\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\" alt=\"FLASH YTD JAN15\" width=\"338\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – RADAR TRADES: TRADE BY TRADE (JANUARY 2015):\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5219\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\" alt=\"RADAR1 JAN15\" width=\"553\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5220\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\" alt=\"RADAR2 JAN15\" width=\"548\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5221\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\" alt=\"RADAR YTD JAN15\" width=\"353\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – FUNDAMENTAL TRADES: TRADE BY TRADE (JANUARY 2015):\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\"><img class=\"aligncenter size-full wp-image-5222\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\" alt=\"FUNDAMENTAL JAN15\" width=\"507\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\" alt=\"FUNDAMENTAL YTD JAN15\" width=\"363\" height=\"370\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5212\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\" alt=\"PREM SERV PROFITS1 JAN15\" width=\"458\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5213\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\" alt=\"PREM SERV PROFITS2 JAN15\" width=\"451\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong></p>\r\n<p style=\"text-align: center;\"><strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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).\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: 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.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n<span style=\"line-height: 1.5;\">MONDAY: AUD – RBA Rate Statement.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Unemployment Data and GDT index.\r\n<span style=\"line-height: 1.5;\">TUESDAY: NZD – RBNZ Governor Wheeler Speaks.</span>\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: USD – ISM non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate and maybe a MPC Rate Statement.\r\nTHURSDAY: CAD – Trade Balance.\r\nTHURSDAY: USD – Trade Balance.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Unemployment Data.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis is a very big week on news.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT','','inherit','open','closed','','5241-revision-v1','','','2015-02-01 04:06:50','2015-02-01 09:06:50','',5241,'https://weeklyfxdrivethru.com/5241-revision-v1/',0,'revision','',0),(5243,1,'2015-02-01 04:08:48','2015-02-01 09:08:48','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.02.2015\r\nREFERENCE: #137\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nWhat a fascinating week of trading. It was probably, one of my most successful weeks in recent times.\r\n\r\nGiven all the shenanigans of the month: - the surprise SNB EUR/CHF peg removal, the ECB with the Draghi QE announcement, the BOC surprise rate cut, the FED remaining vague and patient, and finally, the RBNZ change in monetary policy to being more accommodative “Dovish”. The big news events last month were in fact “mega” news events, whether they were planned or not. To have these types of news event, the likes of which, we may only see once in a lifetime, and, and to have them all in the same month (plus some surprises), certainly raised not just eyebrows but stress levels as well.\r\n\r\nThe fallout from the SNB continues to roll on, there are now reports surfacing about how much individual brokers lost, plus who is forgiving and who is not forgiving negative balances. I am still waiting on FXCM to advise me what is happening with my loss.\r\n\r\nMoving on, the big news events this week are: -\r\n<ul>\r\n	<li>RBA Interest Rate Statement</li>\r\n	<li>RBNZ Governor Graeme Wheeler</li>\r\n	<li>PMi Data from China, UK, Canada and U.S.</li>\r\n	<li>AUD, CAD and U.S. Trade Balances.</li>\r\n	<li>CAD, NZD and U.S. Employment Data including Non-Farm Payrolls.</li>\r\n</ul>\r\nSo…. It is a very big FX week, and, we should expect a surprise, maybe not a rate cut but maybe a more “Dovish” statement from RBA Governor Glenn Stevens.\r\n\r\nThe “D” word, to you and me “DEFLATION” is now being quoted more often than the wimpish EUROZONE and Ben Bernanke’s “D” word - “DIS-INFLATION” version, so the PMi and Trade Balance numbers will be very closely watched. Literally, every day this week brings us something to trade around.\r\n\r\nThe markets are very skittish at the moment, the U.S. indices that lead the world are moving very strangely and look to be at levels that are prime for a pullback, but I have been saying that for about two years to no avail… One time I will be right….\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT</strong></p>\r\nOver the past week or so it has become increasingly obvious that commodity currencies and in particular the commodity cross rates have been very much the flavour of making $$$ out of the Forex market.\r\n\r\nAll of the fall-out with the USD following the SNB and the ECB has meant that the DXY is testing major resistance levels and as a result the USD has tended to consolidate its recent moves. The EUR/USD had a monumental move lower on the back of ECB announcement of its QE program. Thus, the move in the USD took on an overbought picture and we need to allow time for consolidation before the recent DXY highs are re-tested.\r\n\r\nThe commodity currencies, AUD, NZD and CAD have whilst all the attention has been focused on the EUR/USD, weakened quite dramatically.\r\n\r\nAs you are probably aware there is a worldwide sell-off of commodities in general and therefore it stands to reason that the commodity currencies would be affected.\r\n\r\nInitially our focus was on OIL. The USD/CAD broke out to the long side on the back of Oil weakness. There is a glut of supply over demand, which, is usually enough to drive a market but we have to add into this market the fact that it is full of hedge fund speculators (this is a news event on the horizon with losses) that quite frankly distort all parameters. Moving on…. This created the leap higher like a “pop-tart from your toaster” and the USD/CAD, looks like it is relentlessly heading towards 1.3000. Where is OIL going to find a bottom, probably sub $40.00, before it sees some support and value. The Canadian economy is not 100% reliant on Oil. It is not a 100% Oil based economy although it is hugely important, so much so that combined with the commodity sell-off it was enough to cause Stephen Poloz, Governor of the Bank of Canada, sufficient concern to cut the BOC overnight rate by 0.25%. This action further weakened the Canadian currency.\r\n\r\nThe knock on effect, Graeme Wheeler at the RBNZ took a more dovish stance in his recent monetary policy statement and the RBA meets this week, so all eyes will be on governor, Glenn Stevens to see what he does. Rumored rate cuts have been denied. But I strongly suspect a greater more accommodative statement at the very least this Tuesday (EDT).\r\n\r\nIt all leans towards a direction that we can trade. If you only trade the USD majors with the Central banks giving direction from the monetary policy statements, go with the flow.\r\n<p style=\"text-align: center;\"><strong>NZD/USD and AUD/USD – short</strong>\r\n<strong> USD/CAD - long</strong></p>\r\nI have written extensively over the past 12 months about the effects of the Central Banks on the Forex Market (I wrote a huge piece last week on this subject).\r\n\r\nIf you are a trader that doesn’t mind a little more risk and greater volatility, you can also look at trading the commodity currency cross-rates.\r\n<p style=\"text-align: center;\"><strong>EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD</strong></p>\r\nThere are more pairs involving the AUD and CHF, but the ones above are the main ones. Moves with these pairs have been particularly strong to the upside, as the commodity currencies have weakened. Personally, through the PREMIUM SERVICE I have been trading mainly the GBP related pairs due to the on-going EUROZONE situation casting a cloud over my desire to trade the EUR anything to the long side.\r\n\r\nFor the foreseeable future commodity pairs and commodity crosses should be, in my opinion, the cornerstone, of your Forex trading strategy.\r\n\r\n(In using the word cornerstone, I realize this was used by the SNB 48 hours prior to the peg removal, when confirming to the media “the EUR/CHF Peg was the cornerstone of the SNB monetary policy”….it is a great word!!!)\r\n\r\nThe commodity crosses are rallying when equities are consolidating and moving upwards. Can you just imagine what would happen if equities start to pullback?\r\n\r\nI took time out the other day for an hour or so and caught some CNBC, which has extensive coverage of the current earnings season. This will have a direct impact on the equity markets.\r\n\r\nHere’s what is rolling around in my brain right now... this minute: - My God with 30 seconds of watching CNBC I was on the roof checking the tiles/shingles…\r\n\r\nI heard so many companies lay the blame for poor quarterly earnings on the strength of the USD.\r\n\r\nLet me just think….\r\n<ul>\r\n	<li>When the USD was weaker, there was no mention of the opposite tailwinds that a weaker USD offered … it was just like, “we are just brilliant managers in these desperate times”</li>\r\n	<li>After the 2008-9 crash, U.S. companies to stay afloat, bolted down, cut out jobs to improve costs as demand for goods decreased so that they could continue to supply Wall Street with good earnings.</li>\r\n	<li>As the economy improved, U.S. companies did not hire extra staff to cope with increased volumes… they kept wages low and they banked the extra cash that was generated.</li>\r\n	<li>To satisfy Wall Street, using the cash on the balance sheet they started to buy back shares to improve the EPS (Earnings Per Share ratio) to satisfy investors and the Wall Street analysts. The analysts on Wall Street are generally so poor that no one ever really challenged the fact that the balance sheet top line of “Sales Income” hardly moved higher or in fact actually decreased. The EPS measurement was great though!!</li>\r\n	<li>Last year the ever-supportive FED announced Tapering; QE would be brought to completion. The liquidity (printing presses) would be reduced month by month until zero and then the policy of low interest rates would change to a policy of raising interest rates. This meant a weak USD would, because of a change to increasing interest rates, become a strong USD. This was well advertised over 12 months ago.</li>\r\n	<li>Oil has sold off by more than 50% of its early 2014 price per barrel. This effectively gives consumers an instant tax cut as the savings are there every time a fuel tank is filled. Businesses also benefit from lower Oil prices through lower production and transportation costs. Oil is directly linked to the USD as Oil is priced in dollars. As OIL decreases this helps strengthen the USD.</li>\r\n</ul>\r\nMy thoughts now….\r\n<ul>\r\n	<li>The U.S. companies reporting weak earnings have in my opinion, been guilty of burying their heads in the sand. It is basic, pure and simple poor management.</li>\r\n	<li>All of the above has been known about or started over a year ago. To use a strong USD as an excuse is pathetic. Yes it has an effect, but my God these people are paid to manage; in many cases they are just not good enough.</li>\r\n	<li>Wages have not been increasing, the U.S. unemployment data accuracy is questionable, and there is little inflation in the world, more like DEFLATION.</li>\r\n	<li>Commodity prices are continually heading lower; no one is buying finished goods, so why produce them? So commodity prices drop even more. It is a vicious circle.</li>\r\n	<li>Consumers obviously do not feel confident to buy. It would appear that they are saving or paying down debt when the opportunity arises.</li>\r\n	<li>The last set of U.S. data for retail sales was weak… It was the biggest sales quarter and it was poor data.</li>\r\n</ul>\r\nAll of the above, business incompetence included leads to weaker commodities and weaker commodity currencies.\r\n\r\nEventually, the equity markets will smell the coffee. I do not have much faith in most U.S. businesses, as they appear to be as dysfunctional as Washington at times. They just want the FED to support them forever… infinity. What gets the U.S. economy moving in all forward gears is enough for another blog.\r\n\r\nI have written so many times in the past, its all about commodities, commodities drive the markets and everything else follows, there may be a lag but the rest eventually follows.\r\n\r\nEquities are at the precipice once again, should they rollover, in my opinion the commodity currencies are the trades to look at.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong></strong><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong>&nbsp;</li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">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.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: left;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was for the PREMIUM SERVICE a great week. What began as a difficult month turned out to be a great month when all the statistics were collated? I wrote last week, that following events such as SNB Day, if you lost money, it’s all about the way you pick yourself up and move forward. As mentioned earlier, the commodity currencies and commodity cross-rate pairs saved the month.\r\n\r\nIf you look at the currency moves for the past month, using only the relationships between the G7 basket of currencies the CHF obviously on the back of SNB action was the strongest mover in January.\r\n\r\nCHF    +75.56% - power of the SNB EUR/CHF Peg removal.\r\nJPY     +32.55%\r\nUSD   +21.06% - FED policy / oil / help from ECB.\r\nGBP    -3.89%\r\nAUD    -16.49% - Commodity sell-off / China fears.\r\nEUR   -29.10% - ECB QE policy announcement.\r\nNZD    -33.79% - RBNZ more dovish stance / commodity sell-off / China fears.\r\nCAD    -45.90% - weaker Oil / commodity sell off / BOC rate cut dovish stance.\r\n(Source: Forex Live)\r\n\r\nThe PREMIUM SERVICE closed on 51 trades during the month of January 2015. 40 of those trades were profitable (78%) and 11 were loss-producing trades (22%).\r\n\r\nThe major aspect of trading that stands out, is that overall I never made a profit from my RADAR TRADES. The reason being trades from SNB day, created substantial pip losses from which I was never able to fully recover from.\r\n\r\nI also cancelled more trades than ever last month, due to the increasing market volatility, which caused me huge issues at times, as I did not want to post potential higher risk trades to PREMIUM SERVICE subscribers.\r\n<p style=\"text-align: left;\"><strong>Total pips generated in profitable trades this month: - 1,813 pips.</strong></p>\r\n<p style=\"text-align: left;\"><strong>The income from trades was as follows: -</strong>\r\n<strong>MICRO LOT TRADERS:                 51 trades cost $5.10 = return of $181.30.</strong>\r\n<strong><span style=\"line-height: 1.5;\">MINI LOT TRADERS:                      51 trades cost $51.00 = return of $1,813.00.\r\n</span>STANDARD LOT TRADERS:         51 trades cost $510.00 = return of $18,130.00.    </strong></p>\r\nWhilst these numbers represent a great return, they do not tell the full story. Position Sizing is a major consideration in volatile trading conditions.\r\n\r\nIt was in January easier to generate the pips than it was to bank the cash due to RISK MANAGEMENT. Compromise on POSITION SIZING was the order of the day to MANAGE RISK properly. Yes, you could make a return but the size of your broker account determined the return you could make due to RISK MANAGEMENT.\r\n\r\nLet me elaborate a little further….\r\n\r\nIn January to keep “TRADES ALIVE” stop loss levels were a little wider than usual. Last year ATR’s (Average True Ranges) in may pairs shrank and a typical stop was set maybe 40-50 pips away from the entry level.\r\n\r\nWhen suggesting trades this year, the ranges have increased a little as the volatility has also increased. This has meant that pivots and Fibonacci levels have been a little wider.\r\n\r\nThis is exacerbated with the exotic pairs, which were more volatile anyway because they see less flow and are more illiquid. This means that a previous 400 pip stop on a longer-term exotic pair may now be 500-600 pips and wider if I see the trade as a FUNDAMENTAL TRADE set-up. The wider the stop, the greater the risk, to me says take a smaller position size. When trading exotics I would always recommend taking at least only 25% of what you would usually trade as your maximum position size anyway.\r\n\r\nThe mix of trade-set ups is also interesting between USD majors and the rest.\r\n\r\nThe bottom line is that for most traders unless you manage your position sizes correctly you are limited to the number of live trades that you should take on board using RISK EXPOSURE.\r\n\r\nLet me provide an example based on a STANDARD LOT trader with a typical $100,000.00 balance in his broker account. To keep this simple I am only looking at the position of the STOP in number of pips away from the entry level.\r\n\r\nTRADE SET-UPS suggested from the PREMIUM SERVICE:\r\n(All trades are assumed to be single lot trades at a value of $10.00 each trade)\r\n(My trade limit RISK per trade is 0.5%)\r\n(Total “LIVE” RISK should be no more than 3%)\r\n<ol>\r\n	<li>EUR/USD: Entry at 1.1360 Stop at 1.1450 – RISK = 90 x $10 - $900.00</li>\r\n	<li>EUR/GBP: Entry at 0.7550 Stop at 0.7620 – RISK = 65 x $10 - $650.00</li>\r\n	<li>NZD/USD: Entry at 0.7295 Stop at 0.7340 – RISK = 45 X $10 - $450.00</li>\r\n	<li>GBP/AUD: Entry at 1.8700 Stop at 1.8340 – RISK = 360 x $10 = $3,600.00</li>\r\n	<li>GBP/CAD: Entry at 1.8730 Stop at 1.8250 – RISK = 480 x $10 = $4,800.00</li>\r\n	<li>GBP/NZD: Entry at 2.0540 Stop at 1.9850 – RISK = 690 x $10 = $6,900.00\r\n(At one stage in January the PREMIUM SERVICE was LIVE with 9 trades)</li>\r\n</ol>\r\nAs the above trades stand – in order to trade them all with 1 x STANDARD LOT the risk on entering the trades totals $ 17,300.00, which is 17% of your trading account. Quite frankly, if anyone trades this way they deserve all that the market dishes out. The maximum RISK on a $100,000.00 broker account in my opinion should not be more than 3%, which is $3,000 and this should be limited to 0.5% per trade.\r\n\r\nThe easy calculation to do is as follows (this can be drilled down to all sizes of accounts): -\r\n\r\n$100,000.00 in your trading account 0.5% = $500.00 maximum risk per trade.\r\n$100,000.00 in your trading account 3.0% total risk = $3,000.00. Therefore it is six trades maximum at $500 risk per trade. This is the simplest way, in my opinion to trade.\r\n\r\nTherefore, as you can see even with a $100,000.00 Forex broker trading account, from my RISK PER TRADE standards within my TRADING PLAN, I could not have traded all the LIVE TRADES at once via STANDARD LOTS. A mixture of STANDARD and MINI lot trading was required. Only accounts with a minimum of at least $600,000.00 in my opinion could have traded the 1 x STANDARD LOT approach.\r\n\r\nYou have to be flexible, there are articles in the EDUCATION section of the PREMIUM SERVICE website for subscribers that refer to POSITION SIZING. This year so far trading ranges and stop placements are wider than 2014, it is different, but the principles are the same.\r\n\r\nAs I have written in the past, if you approach each trade based on the RISK, there is money to be made in the Forex Market.\r\n\r\nPOSITION SIZING is absolutely critical your success. Failure here will blow your accounts apart.\r\n\r\nAs a subscriber to the PREMIUM SERVICE you can make money from the Forex Market but you have to be disciplined\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\"><img class=\"aligncenter size-full wp-image-5214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\" alt=\"PS PROFIT-LOSS RATIOS JAN15\" width=\"414\" height=\"584\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – FLASH TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5216\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\" alt=\"FLASH1 JAN15\" width=\"497\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5217\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\" alt=\"FLASH2 JAN15\" width=\"520\" height=\"490\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5218\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\" alt=\"FLASH YTD JAN15\" width=\"338\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – RADAR TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5219\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\" alt=\"RADAR1 JAN15\" width=\"553\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5220\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\" alt=\"RADAR2 JAN15\" width=\"548\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5221\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\" alt=\"RADAR YTD JAN15\" width=\"353\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – FUNDAMENTAL TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\"><img class=\"aligncenter size-full wp-image-5222\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\" alt=\"FUNDAMENTAL JAN15\" width=\"507\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\" alt=\"FUNDAMENTAL YTD JAN15\" width=\"363\" height=\"370\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5212\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\" alt=\"PREM SERV PROFITS1 JAN15\" width=\"458\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5213\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\" alt=\"PREM SERV PROFITS2 JAN15\" width=\"451\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong></p>\r\n<p style=\"text-align: center;\"><strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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).\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: 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.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<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>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\n&nbsp;\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n<span style=\"line-height: 1.5;\">MONDAY: AUD – RBA Rate Statement.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Unemployment Data and GDT index.\r\n<span style=\"line-height: 1.5;\">TUESDAY: NZD – RBNZ Governor Wheeler Speaks.</span>\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: USD – ISM non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate and maybe a MPC Rate Statement.\r\nTHURSDAY: CAD – Trade Balance.\r\nTHURSDAY: USD – Trade Balance.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Unemployment Data.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis is a very big week on news.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT','','inherit','open','closed','','5241-revision-v1','','','2015-02-01 04:08:48','2015-02-01 09:08:48','',5241,'https://weeklyfxdrivethru.com/5241-revision-v1/',0,'revision','',0),(5244,1,'2015-02-01 04:09:05','2015-02-01 09:09:05','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 01.02.2015\r\nREFERENCE: #137\r\n</strong><strong>BLOG: THE WEEKLY FX DRIVE THRU</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nWhat a fascinating week of trading. It was probably, one of my most successful weeks in recent times.\r\n\r\nGiven all the shenanigans of the month: - the surprise SNB EUR/CHF peg removal, the ECB with the Draghi QE announcement, the BOC surprise rate cut, the FED remaining vague and patient, and finally, the RBNZ change in monetary policy to being more accommodative “Dovish”. The big news events last month were in fact “mega” news events, whether they were planned or not. To have these types of news event, the likes of which, we may only see once in a lifetime, and, and to have them all in the same month (plus some surprises), certainly raised not just eyebrows but stress levels as well.\r\n\r\nThe fallout from the SNB continues to roll on, there are now reports surfacing about how much individual brokers lost, plus who is forgiving and who is not forgiving negative balances. I am still waiting on FXCM to advise me what is happening with my loss.\r\n\r\nMoving on, the big news events this week are: -\r\n<ul>\r\n	<li>RBA Interest Rate Statement</li>\r\n	<li>RBNZ Governor Graeme Wheeler</li>\r\n	<li>PMi Data from China, UK, Canada and U.S.</li>\r\n	<li>AUD, CAD and U.S. Trade Balances.</li>\r\n	<li>CAD, NZD and U.S. Employment Data including Non-Farm Payrolls.</li>\r\n</ul>\r\nSo…. It is a very big FX week, and, we should expect a surprise, maybe not a rate cut but maybe a more “Dovish” statement from RBA Governor Glenn Stevens.\r\n\r\nThe “D” word, to you and me “DEFLATION” is now being quoted more often than the wimpish EUROZONE and Ben Bernanke’s “D” word - “DIS-INFLATION” version, so the PMi and Trade Balance numbers will be very closely watched. Literally, every day this week brings us something to trade around.\r\n\r\nThe markets are very skittish at the moment, the U.S. indices that lead the world are moving very strangely and look to be at levels that are prime for a pullback, but I have been saying that for about two years to no avail… One time I will be right….\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT</strong></p>\r\nOver the past week or so it has become increasingly obvious that commodity currencies and in particular the commodity cross rates have been very much the flavour of making $$$ out of the Forex market.\r\n\r\nAll of the fall-out with the USD following the SNB and the ECB has meant that the DXY is testing major resistance levels and as a result the USD has tended to consolidate its recent moves. The EUR/USD had a monumental move lower on the back of ECB announcement of its QE program. Thus, the move in the USD took on an overbought picture and we need to allow time for consolidation before the recent DXY highs are re-tested.\r\n\r\nThe commodity currencies, AUD, NZD and CAD have whilst all the attention has been focused on the EUR/USD, weakened quite dramatically.\r\n\r\nAs you are probably aware there is a worldwide sell-off of commodities in general and therefore it stands to reason that the commodity currencies would be affected.\r\n\r\nInitially our focus was on OIL. The USD/CAD broke out to the long side on the back of Oil weakness. There is a glut of supply over demand, which, is usually enough to drive a market but we have to add into this market the fact that it is full of hedge fund speculators (this is a news event on the horizon with losses) that quite frankly distort all parameters. Moving on…. This created the leap higher like a “pop-tart from your toaster” and the USD/CAD, looks like it is relentlessly heading towards 1.3000. Where is OIL going to find a bottom, probably sub $40.00, before it sees some support and value. The Canadian economy is not 100% reliant on Oil. It is not a 100% Oil based economy although it is hugely important, so much so that combined with the commodity sell-off it was enough to cause Stephen Poloz, Governor of the Bank of Canada, sufficient concern to cut the BOC overnight rate by 0.25%. This action further weakened the Canadian currency.\r\n\r\nThe knock on effect, Graeme Wheeler at the RBNZ took a more dovish stance in his recent monetary policy statement and the RBA meets this week, so all eyes will be on governor, Glenn Stevens to see what he does. Rumored rate cuts have been denied. But I strongly suspect a greater more accommodative statement at the very least this Tuesday (EDT).\r\n\r\nIt all leans towards a direction that we can trade. If you only trade the USD majors with the Central banks giving direction from the monetary policy statements, go with the flow.\r\n<p style=\"text-align: center;\"><strong>NZD/USD and AUD/USD – short</strong>\r\n<strong> USD/CAD - long</strong></p>\r\nI have written extensively over the past 12 months about the effects of the Central Banks on the Forex Market (I wrote a huge piece last week on this subject).\r\n\r\nIf you are a trader that doesn’t mind a little more risk and greater volatility, you can also look at trading the commodity currency cross-rates.\r\n<p style=\"text-align: center;\"><strong>EUR/AUD, GBP/AUD, EUR/NZD, GBP/NZD, EUR/CAD and GBP/CAD</strong></p>\r\nThere are more pairs involving the AUD and CHF, but the ones above are the main ones. Moves with these pairs have been particularly strong to the upside, as the commodity currencies have weakened. Personally, through the PREMIUM SERVICE I have been trading mainly the GBP related pairs due to the on-going EUROZONE situation casting a cloud over my desire to trade the EUR anything to the long side.\r\n\r\nFor the foreseeable future commodity pairs and commodity crosses should be, in my opinion, the cornerstone, of your Forex trading strategy.\r\n\r\n(In using the word cornerstone, I realize this was used by the SNB 48 hours prior to the peg removal, when confirming to the media “the EUR/CHF Peg was the cornerstone of the SNB monetary policy”….it is a great word!!!)\r\n\r\nThe commodity crosses are rallying when equities are consolidating and moving upwards. Can you just imagine what would happen if equities start to pullback?\r\n\r\nI took time out the other day for an hour or so and caught some CNBC, which has extensive coverage of the current earnings season. This will have a direct impact on the equity markets.\r\n\r\nHere’s what is rolling around in my brain right now... this minute: - My God with 30 seconds of watching CNBC I was on the roof checking the tiles/shingles…\r\n\r\nI heard so many companies lay the blame for poor quarterly earnings on the strength of the USD.\r\n\r\nLet me just think….\r\n<ul>\r\n	<li>When the USD was weaker, there was no mention of the opposite tailwinds that a weaker USD offered … it was just like, “we are just brilliant managers in these desperate times”</li>\r\n	<li>After the 2008-9 crash, U.S. companies to stay afloat, bolted down, cut out jobs to improve costs as demand for goods decreased so that they could continue to supply Wall Street with good earnings.</li>\r\n	<li>As the economy improved, U.S. companies did not hire extra staff to cope with increased volumes… they kept wages low and they banked the extra cash that was generated.</li>\r\n	<li>To satisfy Wall Street, using the cash on the balance sheet they started to buy back shares to improve the EPS (Earnings Per Share ratio) to satisfy investors and the Wall Street analysts. The analysts on Wall Street are generally so poor that no one ever really challenged the fact that the balance sheet top line of “Sales Income” hardly moved higher or in fact actually decreased. The EPS measurement was great though!!</li>\r\n	<li>Last year the ever-supportive FED announced Tapering; QE would be brought to completion. The liquidity (printing presses) would be reduced month by month until zero and then the policy of low interest rates would change to a policy of raising interest rates. This meant a weak USD would, because of a change to increasing interest rates, become a strong USD. This was well advertised over 12 months ago.</li>\r\n	<li>Oil has sold off by more than 50% of its early 2014 price per barrel. This effectively gives consumers an instant tax cut as the savings are there every time a fuel tank is filled. Businesses also benefit from lower Oil prices through lower production and transportation costs. Oil is directly linked to the USD as Oil is priced in dollars. As OIL decreases this helps strengthen the USD.</li>\r\n</ul>\r\nMy thoughts now….\r\n<ul>\r\n	<li>The U.S. companies reporting weak earnings have in my opinion, been guilty of burying their heads in the sand. It is basic, pure and simple poor management.</li>\r\n	<li>All of the above has been known about or started over a year ago. To use a strong USD as an excuse is pathetic. Yes it has an effect, but my God these people are paid to manage; in many cases they are just not good enough.</li>\r\n	<li>Wages have not been increasing, the U.S. unemployment data accuracy is questionable, and there is little inflation in the world, more like DEFLATION.</li>\r\n	<li>Commodity prices are continually heading lower; no one is buying finished goods, so why produce them? So commodity prices drop even more. It is a vicious circle.</li>\r\n	<li>Consumers obviously do not feel confident to buy. It would appear that they are saving or paying down debt when the opportunity arises.</li>\r\n	<li>The last set of U.S. data for retail sales was weak… It was the biggest sales quarter and it was poor data.</li>\r\n</ul>\r\nAll of the above, business incompetence included leads to weaker commodities and weaker commodity currencies.\r\n\r\nEventually, the equity markets will smell the coffee. I do not have much faith in most U.S. businesses, as they appear to be as dysfunctional as Washington at times. They just want the FED to support them forever… infinity. What gets the U.S. economy moving in all forward gears is enough for another blog.\r\n\r\nI have written so many times in the past, its all about commodities, commodities drive the markets and everything else follows, there may be a lag but the rest eventually follows.\r\n\r\nEquities are at the precipice once again, should they rollover, in my opinion the commodity currencies are the trades to look at.\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n<p style=\"text-align: center;\">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.</p>\r\n<strong>THE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -</strong>\r\n<p style=\"text-align: left;\"><strong>10 weeks - $200.00</strong>\r\n<strong>20 weeks - $350.00</strong>\r\n<strong>40 weeks - $500.00</strong></p>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was for the PREMIUM SERVICE a great week. What began as a difficult month turned out to be a great month when all the statistics were collated? I wrote last week, that following events such as SNB Day, if you lost money, it’s all about the way you pick yourself up and move forward. As mentioned earlier, the commodity currencies and commodity cross-rate pairs saved the month.\r\n\r\nIf you look at the currency moves for the past month, using only the relationships between the G7 basket of currencies the CHF obviously on the back of SNB action was the strongest mover in January.\r\n\r\nCHF    +75.56% - power of the SNB EUR/CHF Peg removal.\r\nJPY     +32.55%\r\nUSD   +21.06% - FED policy / oil / help from ECB.\r\nGBP    -3.89%\r\nAUD    -16.49% - Commodity sell-off / China fears.\r\nEUR   -29.10% - ECB QE policy announcement.\r\nNZD    -33.79% - RBNZ more dovish stance / commodity sell-off / China fears.\r\nCAD    -45.90% - weaker Oil / commodity sell off / BOC rate cut dovish stance.\r\n(Source: Forex Live)\r\n\r\nThe PREMIUM SERVICE closed on 51 trades during the month of January 2015. 40 of those trades were profitable (78%) and 11 were loss-producing trades (22%).\r\n\r\nThe major aspect of trading that stands out, is that overall I never made a profit from my RADAR TRADES. The reason being trades from SNB day, created substantial pip losses from which I was never able to fully recover from.\r\n\r\nI also cancelled more trades than ever last month, due to the increasing market volatility, which caused me huge issues at times, as I did not want to post potential higher risk trades to PREMIUM SERVICE subscribers.\r\n<p style=\"text-align: left;\"><strong>Total pips generated in profitable trades this month: - 1,813 pips.</strong></p>\r\n<p style=\"text-align: left;\"><strong>The income from trades was as follows: -</strong>\r\n<strong>MICRO LOT TRADERS:                 51 trades cost $5.10 = return of $181.30.</strong>\r\n<strong><span style=\"line-height: 1.5;\">MINI LOT TRADERS:                      51 trades cost $51.00 = return of $1,813.00.\r\n</span>STANDARD LOT TRADERS:         51 trades cost $510.00 = return of $18,130.00.    </strong></p>\r\nWhilst these numbers represent a great return, they do not tell the full story. Position Sizing is a major consideration in volatile trading conditions.\r\n\r\nIt was in January easier to generate the pips than it was to bank the cash due to RISK MANAGEMENT. Compromise on POSITION SIZING was the order of the day to MANAGE RISK properly. Yes, you could make a return but the size of your broker account determined the return you could make due to RISK MANAGEMENT.\r\n\r\nLet me elaborate a little further….\r\n\r\nIn January to keep “TRADES ALIVE” stop loss levels were a little wider than usual. Last year ATR’s (Average True Ranges) in may pairs shrank and a typical stop was set maybe 40-50 pips away from the entry level.\r\n\r\nWhen suggesting trades this year, the ranges have increased a little as the volatility has also increased. This has meant that pivots and Fibonacci levels have been a little wider.\r\n\r\nThis is exacerbated with the exotic pairs, which were more volatile anyway because they see less flow and are more illiquid. This means that a previous 400 pip stop on a longer-term exotic pair may now be 500-600 pips and wider if I see the trade as a FUNDAMENTAL TRADE set-up. The wider the stop, the greater the risk, to me says take a smaller position size. When trading exotics I would always recommend taking at least only 25% of what you would usually trade as your maximum position size anyway.\r\n\r\nThe mix of trade-set ups is also interesting between USD majors and the rest.\r\n\r\nThe bottom line is that for most traders unless you manage your position sizes correctly you are limited to the number of live trades that you should take on board using RISK EXPOSURE.\r\n\r\nLet me provide an example based on a STANDARD LOT trader with a typical $100,000.00 balance in his broker account. To keep this simple I am only looking at the position of the STOP in number of pips away from the entry level.\r\n\r\nTRADE SET-UPS suggested from the PREMIUM SERVICE:\r\n(All trades are assumed to be single lot trades at a value of $10.00 each trade)\r\n(My trade limit RISK per trade is 0.5%)\r\n(Total “LIVE” RISK should be no more than 3%)\r\n<ol>\r\n	<li>EUR/USD: Entry at 1.1360 Stop at 1.1450 – RISK = 90 x $10 - $900.00</li>\r\n	<li>EUR/GBP: Entry at 0.7550 Stop at 0.7620 – RISK = 65 x $10 - $650.00</li>\r\n	<li>NZD/USD: Entry at 0.7295 Stop at 0.7340 – RISK = 45 X $10 - $450.00</li>\r\n	<li>GBP/AUD: Entry at 1.8700 Stop at 1.8340 – RISK = 360 x $10 = $3,600.00</li>\r\n	<li>GBP/CAD: Entry at 1.8730 Stop at 1.8250 – RISK = 480 x $10 = $4,800.00</li>\r\n	<li>GBP/NZD: Entry at 2.0540 Stop at 1.9850 – RISK = 690 x $10 = $6,900.00\r\n(At one stage in January the PREMIUM SERVICE was LIVE with 9 trades)</li>\r\n</ol>\r\nAs the above trades stand – in order to trade them all with 1 x STANDARD LOT the risk on entering the trades totals $ 17,300.00, which is 17% of your trading account. Quite frankly, if anyone trades this way they deserve all that the market dishes out. The maximum RISK on a $100,000.00 broker account in my opinion should not be more than 3%, which is $3,000 and this should be limited to 0.5% per trade.\r\n\r\nThe easy calculation to do is as follows (this can be drilled down to all sizes of accounts): -\r\n\r\n$100,000.00 in your trading account 0.5% = $500.00 maximum risk per trade.\r\n$100,000.00 in your trading account 3.0% total risk = $3,000.00. Therefore it is six trades maximum at $500 risk per trade. This is the simplest way, in my opinion to trade.\r\n\r\nTherefore, as you can see even with a $100,000.00 Forex broker trading account, from my RISK PER TRADE standards within my TRADING PLAN, I could not have traded all the LIVE TRADES at once via STANDARD LOTS. A mixture of STANDARD and MINI lot trading was required. Only accounts with a minimum of at least $600,000.00 in my opinion could have traded the 1 x STANDARD LOT approach.\r\n\r\nYou have to be flexible, there are articles in the EDUCATION section of the PREMIUM SERVICE website for subscribers that refer to POSITION SIZING. This year so far trading ranges and stop placements are wider than 2014, it is different, but the principles are the same.\r\n\r\nAs I have written in the past, if you approach each trade based on the RISK, there is money to be made in the Forex Market.\r\n\r\nPOSITION SIZING is absolutely critical your success. Failure here will blow your accounts apart.\r\n\r\nAs a subscriber to the PREMIUM SERVICE you can make money from the Forex Market but you have to be disciplined\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\"><img class=\"aligncenter size-full wp-image-5214\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-PROFIT-LOSS-RATIOS-JAN15.png\" alt=\"PS PROFIT-LOSS RATIOS JAN15\" width=\"414\" height=\"584\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – FLASH TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5216\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH1-JAN15.png\" alt=\"FLASH1 JAN15\" width=\"497\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5217\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH2-JAN15.png\" alt=\"FLASH2 JAN15\" width=\"520\" height=\"490\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5218\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FLASH-YTD-JAN15.png\" alt=\"FLASH YTD JAN15\" width=\"338\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.4. – RADAR TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5219\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR1-JAN15.png\" alt=\"RADAR1 JAN15\" width=\"553\" height=\"481\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5220\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR2-JAN15.png\" alt=\"RADAR2 JAN15\" width=\"548\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5221\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/RADAR-YTD-JAN15.png\" alt=\"RADAR YTD JAN15\" width=\"353\" height=\"386\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.5. – FUNDAMENTAL TRADES: TRADE BY TRADE (JANUARY 2015):</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\"><img class=\"aligncenter size-full wp-image-5222\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-JAN15.png\" alt=\"FUNDAMENTAL JAN15\" width=\"507\" height=\"520\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5223\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/FUNDAMENTAL-YTD-JAN15.png\" alt=\"FUNDAMENTAL YTD JAN15\" width=\"363\" height=\"370\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.6. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span><strong><span style=\"text-decoration: underline;\"> </span></strong>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\"><img class=\"aligncenter size-full wp-image-5212\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS1-JAN15.png\" alt=\"PREM SERV PROFITS1 JAN15\" width=\"458\" height=\"434\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\"><img class=\"aligncenter size-full wp-image-5213\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PREM-SERV-PROFITS2-JAN15.png\" alt=\"PREM SERV PROFITS2 JAN15\" width=\"451\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION:</span>\r\n<p style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong></p>\r\n<p style=\"text-align: center;\"><strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong></p>\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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).\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li><strong>Subscribe to the PREMIUM SERVICE:</strong></li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: 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.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</strong></li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</strong></li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</strong></li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<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>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\n\r\n&nbsp;\r\n\r\nSUNDAY: CNY – HSBC Final Manufacturing PMi.\r\n\r\nMONDAY: GBP – Manufacturing PMi.\r\nMONDAY: USD – ISM Manufacturing PMi.\r\nMONDAY: AUD – Trade Balance.\r\n<span style=\"line-height: 1.5;\">MONDAY: AUD – RBA Rate Statement.</span>\r\n\r\nTUESDAY: GBP – Construction PMi.\r\nTUESDAY: NZD – Unemployment Data and GDT index.\r\n<span style=\"line-height: 1.5;\">TUESDAY: NZD – RBNZ Governor Wheeler Speaks.</span>\r\n\r\nWEDNESDAY: GBP – Services PMi.\r\nWEDNESDAY: USD – ADP Non-Farm Employment Change.\r\nWEDNESDAY: CAD – IVEY PMi.\r\nWEDNESDAY: USD – ISM non-Manufacturing PMi.\r\nWEDNESDAY: AUD – Retail Sales.\r\n\r\nTHURSDAY: GBP – BOE Bank Rate and maybe a MPC Rate Statement.\r\nTHURSDAY: CAD – Trade Balance.\r\nTHURSDAY: USD – Trade Balance.\r\nTHURSDAY: AUD – RBA Monetary Policy Statement.\r\n\r\nFRIDAY: CAD – Unemployment Data.\r\nFRIDAY: USD – Non-Farm Employment Data and Unemployment Rate.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThis is a very big week on news.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 1st 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','COMMODITY CURRENCIES SHOULD BE THE FOCUS OF YOUR FX TRADING AT THE MOMENT','','inherit','open','closed','','5241-revision-v1','','','2015-02-01 04:09:05','2015-02-01 09:09:05','',5241,'https://weeklyfxdrivethru.com/5241-revision-v1/',0,'revision','',0),(5250,1,'2015-02-01 10:07:43','2015-02-01 15:07:43','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\"><img class=\"aligncenter size-full wp-image-5215\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/PS-RISK-REWARD-JAN15.png\" alt=\"PS RISK-REWARD JAN15\" width=\"418\" height=\"546\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-02-01 10:07:43','2015-02-01 15:07:43','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5281,1,'2015-02-07 15:42:53','2015-02-07 20:42:53','<section class=\"one-sixth first\">\r\n<h4>Completed Trades Risk/Reward Analysis Archives</h4>\r\n<div class=\"menu\"><a class=\"flashmenu-item\" href=\"#\">2015</a></div>\r\n</section><section class=\"five-sixths\">\r\n<div class=\"one-half first\">\r\n<h2>This Year\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a></h2>\r\n&nbsp;\r\n\r\n</div>\r\n<div class=\"one-half\">\r\n<h2>PREVIOUS YEARS\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\"><img class=\"aligncenter size-full wp-image-4964\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/PREM-SERV-RISK-REWARD-31122014-YTD.png\" alt=\"PREM SERV RISK-REWARD 31122014 YTD\" width=\"436\" height=\"543\" /></a></h2>\r\n</div>\r\n</section>','COMPLETED TRADES RISK / REWARD ANALYSIS','','inherit','open','closed','','5006-revision-v1','','','2015-02-07 15:42:53','2015-02-07 20:42:53','',5006,'https://weeklyfxdrivethru.com/5006-revision-v1/',0,'revision','',0),(5282,1,'2015-02-07 16:40:12','2015-02-07 21:40:12','','POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH','','inherit','open','closed','','position-sizing-tips-on-how-to-avoid-risking-too-much','','','2015-02-07 16:44:09','2015-02-07 21:44:09','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf',0,'attachment','application/pdf',0),(5284,1,'2015-02-07 16:44:18','2015-02-07 21:44:18','<section class=\"pdf-links\">\r\n<div class=\"one-third first\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/TRADING-WITH-ATRs.pdf\">TRADING WITH ATR\'s</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/02/HEDGING.pdf\">HEDGING</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/FOLLOWING-YOUR-TRADING-PLAN-.pdf\">FOLLOWING YOUR TRADING PLAN</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/MANAGING-RISK.pdf\">MANAGING RISK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/03/STOP-PLACEMENT.pdf\">STOP PLACEMENT</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/04/TRADING-AROUND-THE-NEWS.pdf\">TRADING AROUND THE NEWS</a>\r\n\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\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\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/PROBABILITIES-IN-TRADING.pdf\">PROBABILITIES IN TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-AND-DRAWDOWNS.pdf\">TRADING PSYCHOLOGY AND DRAWDOWNS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/05/TRADING-PSYCHOLOGY-RECENCY-BIAS.pdf\">TRADING PSYCHOLOGY - RECENCY BIAS</a>\r\n\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\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/01/ARE-YOU-FORCING-TRADES_.pdf\">ARE YOU FORCING TRADES_</a>\r\n\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\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TIPS-ON-GETTING-BACK-INTO-TRADING-AFTER-A-BREAK.pdf\">TIPS ON GETTING BACK INTO TRADING AFTER A BREAK</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-1.pdf\">FX BROKERS -PART 1</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/07/FX-BROKERS-PART-2.pdf\">FX BROKERS - PART 2</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-MISTAKES-THAT-MAY-BE-LIMITING-YOUR-PROFITABILITY.pdf\">TRADING MISTAKES THAT MAY BE LIMITING YOUR PROFITABILITY</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/TRADING-OUTSIDE-OF-YOUR-COMFORT-ZONE.pdf\">TRADING OUTSIDE OF YOUR COMFORT ZONE</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/09/ARE-YOU-PREDICTING-PRICE-ACTION_.pdf\">ARE YOU PREDICTING PRICE ACTION</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/DONT-GIVE-UP-ON-YOUR-TRADE-PLAN.pdf\">DON\'T GIVE UP ON YOUR TRADE PLAN</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-ADJUST-TO-CHANGING-TRADING-CONDITIONS.pdf\">HOW TO ADJUST TO CHANGING TRADING CONDITIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/10/HOW-TO-HANDLE-YOUR-FOREX-TRADING-WORRIES.pdf\">HOW TO HANDLE YOUR FOREX TRADING WORRIES</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/3-WAYS-TO-ENHANCE-YOUR-FOREX-TRADING-SKILLS.pdf\">3 WAYS TO ENHANCE YOUR FOREX TRADING SKILLS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/THE-STAGES-OF-LOSS-IN-FOREX.pdf\">THE STAGES OF LOSS IN FOREX</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/ARE-YOU-A-GREEDY-FOREX-TRADER_.pdf\">ARE YOU A GREEDY FOREX TRADER_</a>\r\n\r\n</div>\r\n<div class=\"one-third\">\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/SEVERAL-WAYS-TO-OVERCOME-TRADING-BURNOUT.pdf\">SEVERAL WAYS TO OVERCOME TRADING BURNOUT</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/11/HOW-YOUR-PHYSICAL-WELL-BEING-AFFECTS-YOUR-FX-TRADING.pdf\">HOW YOUR PHYSICAL WELL-BEING AFFECTS YOUR FX TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2014/12/5-OF-THE-WORST-EXCUSES-TO-NOT-START-TRADING.pdf\">5 OF THE WORST EXCUSES TO NOT START TRADING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/MY-APPROACH-ON-POSITION-SIZING.pdf\">MY APPROACH ON POSITION SIZING</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/8-QUICK-REMINDERS-BEFORE-MAKING-YOUR-2015-TRADING-GOALS.pdf\">8 QUICK REMINDERS BEFORE MAKING YOUR 2015 TRADING GOALS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/01/IDEAS-THAT-MAYBE-YOU-SHOULD-ADD-TO-YOUR-FOREX-TRADING-RESOLUTIONS.pdf\">IDEAS THAT MAYBE YOU SHOULD ADD TO YOUR FOREX TRADING RESOLUTIONS</a>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/POSITION-SIZING...TIPS-ON-HOW-TO-AVOID-RISKING-TOO-MUCH.pdf\">POSITION SIZING...TIPS ON HOW TO AVOID RISKING TOO MUCH</a>\r\n\r\n&nbsp;\r\n\r\n</div>\r\n</section>\r\n<div class=\"one-half first\">These resources are in PDF format that will allow for easy printing</div>','Trading Essentials','','inherit','open','closed','','2538-revision-v1','','','2015-02-07 16:44:18','2015-02-07 21:44:18','',2538,'https://weeklyfxdrivethru.com/2538-revision-v1/',0,'revision','',0),(5285,1,'2015-02-08 05:11:48','2015-02-08 10:11:48','<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE PREMIUM SERVICE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> (The Home of Single-Lot $$$$ Trading)</strong></span></h3>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. INTRODUCTION:</strong></span>\r\n\r\nThank God that last week is over.\r\n\r\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\r\n\r\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\r\n\r\nDuring last week apart from the “Squeeze Day” we had some key data and news releases.\r\n\r\n• Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.\r\n\r\n• UK all PMI’s beat (Which made the GBP very bullish).\r\n\r\n• The RBA cut interest rates.\r\n\r\n• RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.\r\n\r\n• CAD jobs numbers were good.\r\n\r\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\r\n\r\nLooking forward, the pick of the news events for me this week are: -\r\n\r\nRBA - Governor Glenn Stevens speaking twice.\r\nAUD - Employment Data (watch the part-timers they screw with the numbers).\r\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\r\nUSD – Core Retail Sales.\r\n\r\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>2. WHAT’S ON MY MIND: -</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong></p>\r\n&nbsp;\r\n\r\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\r\n\r\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.\r\n\r\nIs it fun…you be the judge?\r\n\r\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\r\n\r\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\r\n\r\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\r\n\r\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\r\n\r\nMoving on from the pleasantries;\r\n\r\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.\r\n\r\nSo does the merry-go-round continue?\r\n\r\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.\r\n\r\nWhat would I like to see happen?\r\n\r\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\r\n\r\nSo what currency pairs will I be focused on and to what levels?\r\n\r\n1. EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\r\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.\r\n\r\n2. EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\r\nNOTE: This direction is supported by ECB policy.\r\n\r\n3. USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?\r\nNOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.\r\n\r\n4. AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\r\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.\r\n\r\n5. NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\r\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.\r\n\r\n6. USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.\r\n\r\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\r\n\r\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\r\n\r\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.\r\n\r\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. THE PREMIUM SERVICE:</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong>SUMMARY OF PERFORMANCE:</strong></span>\r\n\r\n&nbsp;\r\n\r\n3.1 OVERVIEW:\r\n\r\nFor 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 www.weeklyfxdrivethru.com 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.\r\n\r\n&nbsp;\r\n\r\n3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website www.weeklyfxdrivethru.com\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n&nbsp;\r\n\r\n3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:\r\n\r\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\r\n\r\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\r\n\r\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\"><img class=\"aligncenter size-full wp-image-5254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\" alt=\"PROFIT-LOSS RATIOS 08022015\" width=\"405\" height=\"587\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\"><img class=\"aligncenter size-full wp-image-5256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\" alt=\"PREM SERV PROFITS 1 08022015\" width=\"456\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\"><img class=\"aligncenter size-full wp-image-5257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\" alt=\"PREM SERV PROFITS2 08022015\" width=\"459\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4 THE PREMIUM SERVICE – 2015 PROMOTION:\r\n\r\nTHE PREMIUM SERVICE\r\n(The Home of Single-Lot Trading)\r\n\r\nFOR JANUARY and FEBRUARY 2015\r\nONLY\r\nTHE PREMIUM SERVICE\r\nOffers a\r\n“BONUS WEEKS”\r\nLIMITED TIME PROMOTION:\r\n\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by\r\nAvaTrade and Blackwell Global.\r\n\r\nIf 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.\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\nFebruary 2015…it is really very limited: -\r\n\r\n1. Subscribe to the PREMIUM SERVICE:\r\n\r\nYou will need to go to the welcome page of my website www.weeklyfxdrivethru.com\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n\r\n2. Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.\r\n\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\nwww.weeklyfxdrivethru.com\r\n\r\n3. PREMIUM SERVICE – BONUS WEEKS PROMOTION:\r\n\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at premiumservice@weeklyfxdrivethru.com: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n4. PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:\r\n\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></span>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n\r\n4.1 EDUCATION:\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>POSITION SIZING…</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> TIPS ON HOW TO AVOID RISKING TOO MUCH</strong></span></p>\r\nIn the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading. I thought that it would be a good idea to revisit this topic once more from a different perspective.\r\n\r\nI believe that the proper position sizing is THE single most important skill a trader should have. Yes, That’s right – it’s that critical.\r\n\r\nSimply put, proper position sizing means setting the correct amount of lots (MICRO, MINI or STANDARD) to buy or sell a currency pair. In other words, it involves finding the position size that will keep you within your risk comfort level.\r\n\r\nProper POSITION SIZING is a key element in RISK MANAGEMENT. And as we’ve been told many times, RISK MANAGEMENT can determine whether you live to trade another day or not. It can keep you from risking too much on a trade and blowing up your account.\r\n\r\nLet me spell it out in my style:\r\n\r\nCAPITAL PRESERVATION is PARAMOUNT TO TRADING FOREX.\r\n\r\nLONGEVITY can only be achieved through TRADING CONSISTENCY.\r\n\r\nPOSITION SIZING allows you to come back the next day.\r\n\r\nTRADE PLANS with RISK MANAGEMENT = LONGEVITY.\r\n(Establish your RISK TOLERANCES)\r\n\r\nSure, when you bet big, you can win big. But what happens when you lose? You don’t need to be a brain surgeon to figure that one out – you lose big too.\r\n\r\nWithout knowing how to size your positions properly, you may end up taking trades that are far too large for you. In such cases, you become highly vulnerable when the market moves even just a few pips against you. Here are a couple of tips to avoid risking too much.\r\n\r\n1. IDENTIFY AND ACKNOWLEDGE:\r\n\r\nNobody does something just for the heck of it. Binge eaters don\'t just overeat just so they can eat a lot. In one-way or another, they get something out of it, some sort of self-fulfillment perhaps.\r\n\r\nThe same is true for a trader who always finds himself or herself betting too much on his trades even when past experience tells him it’s not a good idea. Why do they keep on doing it?\r\n\r\nA little introspection can make one realize that it’s more than just about being greedy. For most traders, they realize that their aggressive behavior is tied to their self-worth. They bet big in the hope that they win big. The prospect of massive gains consequently makes them feel good about themselves.\r\n\r\nThe problem though is that they don’t fully understand how much they could lose and they find themselves being unable to control their emotions when the price goes against their way, even by just a few pips.\r\n\r\nIn order to address it, one has to acknowledge that there is indeed a problem and that will make a trader realize that this mindset is flawed. With time and conscious effort, he will eventually realize that his trading positions don’t measure his worth as a trader.\r\n\r\n2. KNOW YOUR LIMITS:\r\n\r\nYou also need to find out your tolerance for risk. There are two opposite sides in the trading spectrum with one extreme being risk-seeking and the other being risk averse. Do you know where you stand?\r\n\r\nAlthough most traders risk a fixed percentage of their account on a trade, there’s no one size fits all method to go about it.\r\n\r\nPersonally, I say 3% of your account at risk at any one time and 0.5% risk of your account per trade. You may have different risk levels you are prepared to tolerate. This is critical to success. MANAGING RISK and knowing your RISK TOLERANCES are the critical success factors to trading the Forex Market.\r\n\r\nBefore you even get to the mathematical aspect of it, you first need to determine your psychological limits for risk. If you’re unsure how to go about it, take it slow. Adjust your position sizes according to the potential losses that you know you can sustain. The basic rule is to keep them small enough so that even when you lose, they don’t evoke any strong emotional response that could derail your trading.\r\n\r\nOften times, traders make the mistake of focusing solely on finding the perfect entries and exits, but what really spells the difference between successful and unsuccessful traders is risk management. Its something that should never be taken for granted and the first step towards smart RISK MANAGEMENT is proper POSITION SIZING.\r\n\r\nInside the PREMIUM SERVICE under the EDUCATION tab you will find TRADING ESSENTIALS contained in this folder there are many articles that I have posted that refer to the other key topics listed in this article: -\r\n\r\nRISK MANAGEMENT\r\nTRADE PLANS\r\nRISK TOLERANCES\r\nLONGEVITY IN TRADING\r\nCAPITAL PRESERVATION\r\nPOSITION SIZING\r\n\r\nThese should be read in conjunction with this article.\r\n\r\n&nbsp;\r\n\r\n4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\nBelow is the current spread sheet showing the existing live trades.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\"><img class=\"aligncenter size-full wp-image-5264\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\" alt=\"LIVE TRADES 08022015\" width=\"705\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR. Those with a reference number are already placed with my brokers. Any others listed will be allocated a reference number as I place the trade with my broker. This may not happen on Monday morning, it may be delayed to verify the USD breakout as per my comments in the blog.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\"><img class=\"aligncenter size-full wp-image-5265\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\" alt=\"TRADES ON RADAR 08022015\" width=\"711\" height=\"415\" /></a>\r\n\r\nI have listed the EUR/USD as a potential short trade. On the chart I have stated this may possibly be a FLASH TRADE rather than a (LIMIT ORDER) RADAR TRADE. It all depends on the activity tonight through Monday. I do see a move lower with this pair, but it’s all about how and where to enter short in my opinion. Please bear with me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015.png\"><img class=\"aligncenter size-large wp-image-5266\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015-1024x450.png\" alt=\"EURGBP 240M RT280 05022015\" width=\"1024\" height=\"450\" /></a>\r\n<p style=\"text-align: left;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015.png\"><img class=\"aligncenter size-large wp-image-5267\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015-1024x450.png\" alt=\"USDCHF 120M RT276 08022015\" width=\"1024\" height=\"450\" /></a></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>STAIR STEPPING STOP PROTECTION (SSSP):</strong></span></p>\r\nSince launching the premium service with three types of trades (FLASH, RADAR and FUNDAMENTAL), I have often been asked “What was my original position size and where did I consider it a good place to add to the original trade as it took traction”? This has been particularly relevant to FUNDAMENTAL TRADES. On a trade-by-trade basis I have spoken with several subscribers regarding where I am looking to add so that it is not a surprise when a tweet is sent. I have done some analysis in the background on how to make this information readily available every time I suggest a FUNDAMENTAL TRADE and I feel I now have something I can share with you. (It may still require a little tweaking so bear with me, I did promise some subscribers it would be ready by the end of January)\r\n\r\nFrom today onwards all FUNDAMENTAL TRADES suggested via THE PREMIUM SERVICE EMAIL ALERTS will contain a second page detailing the SSSP and a few further details about the currency pair such as its ATR. The main focus however will be on the areas I am thinking where it is good to add and when I think it would be a good idea to protect profits by moving stops. By the way the SSSP is so called because if you were to chart when you add and when you protect your trade it looks like a staircase.\r\n\r\nWith regards to the existing FUNDAMENTAL TRADES, I want to look at the charts for each trade and add in where I think the trades should be added to and highlight where stop placements should be set to preserve $$$$ as the trade progresses.\r\n\r\nUsing the SSSP will hopefully help with POSITION SIZING as you can plot the total TRADE SIZE from day one and if you want to add in more trades than me the formulas will be there for you to adapt.\r\n\r\nI want to review the existing 4 FUNDAMENTAL TRADES and get into more details of what I look at. If you think that this is overkill and too technical bear with me and I apologise in advance, but I need to get back to some basics on these trades: -\r\n\r\nFUN105 GBP/CAD long\r\nFUN107 GBP/AUD long\r\nFUN108 GBP/NZD long (This was previously FT283)\r\nFUN109 EUR/CHF long (This was previously FT286)\r\n\r\nAs always any charts I submit are wiped of a lot of the data I use in order to have them as clean, clear and having only relevant content displayed. If you ever want a more detailed version just ask.\r\n\r\n&nbsp;\r\n\r\nFUN105 – GBP/CAD:\r\n\r\nThe original chart posted as the trade was suggested is the first chart below.\r\nYou can see that as oil drove this pair lower we held the horizontal support of 1.8661 on the chart.\r\nI suggested a stop below this at 1.8610.\r\nThe Monthly ATR of this pair is 700 pips.\r\nThis is a long-term trade so my present stop is NOT a full ATR.\r\nThe 61.8% retracement of 1.8496 is just above an ATR stop, which should be from a technical point at 1.8420 and not just below the horizontal support at 1.8610.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015.png\"><img class=\"aligncenter size-large wp-image-5270\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015-1024x450.png\" alt=\"GBPCAD FUN105 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below looks at where I think we should be adding to our positions as the trade takes shape.\r\n\r\nThis is a potentially big move that may or may not happen, but research still needs to be done.\r\nI have highlighted 5 places to possibly add. I will be adding at these places.\r\nFrom start to my goal this projected trade has over 1,600 in pips available to take profits from, you do not need to be greedy because currencies DO NOT move in a straight line and the volatility is much, much higher with the commodity cross-rate pairs.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5271\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015-1024x450.png\" alt=\"GBPCAD FUN105(2) MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN107 – GBP/AUD:\r\n\r\nThe original chart posted when the trade was suggested is below.\r\nThis pair looks to be in a breakout move. It will of course be helped by the RBA rate cut and the more dovish stance taken.\r\nSticking to the “technical”.\r\nThe Monthly ATR of this pair is around 850 pips, which places the stop at 1.8710. This is considerably lower than 1.9150 that is being used currently. So there is capacity for a move lower with the stop loss.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015.png\"><img class=\"aligncenter size-large wp-image-5272\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below shows the potential areas to add to additional positions to the trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015.png\"><img class=\"aligncenter size-large wp-image-5273\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART(2) 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"line-height: 1.5;\">This trade has a projected total 2,740 pips; potentially a big trade.</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nFUN108 (WAS FT283) – GBP/NZD:\r\n\r\nThis trade has great potential. The pip value should we see the move back to the 50% resistance level on the chart is 2,357 pips.\r\nThe monthly ATR with pair is a staggering 900 pips.\r\nMy original stop is about half that from the entry level of 2.0843.\r\nLooking at places to add with this trade is a little difficult, as the move lower did not have many levels of support and therefore finding areas of resistance on the way back is quite difficult. It may well be that round numbers will play a part. In any event I believe that the big round number of 1.1000 needs to be passed in order for this trade to take traction higher.\r\nThe chart below shows areas of horizontal support and resistance where I am proposing to add to my initial trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5274\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015-1024x450.png\" alt=\"GBPNZD FUN108 MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN109 (WAS FT286) – EUR/CHF:\r\n\r\nThis trade is a speculative trade based upon SNB chatter about the desire to have the EUR/CHF around 1.1000. With the SNB free from “the peg” there are lots of rumours about intervention, this time to raise this pair to the 1.1000 level.\r\nThere is no chart to show as the fall after the PEG removal has given me no history to work from.\r\n\r\nNOTE:\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:\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\nAs you will see there are very pairs with trending data. This is another reason to verify the DXY move first.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\"><img class=\"aligncenter size-full wp-image-5263\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\" alt=\"TRENDING PAIRS 08022015\" width=\"391\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:\r\n(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\nEUR/USD: Closing Price 1.1314. On Friday afternoon more Greek news hit the wires to sell off the equity markets lower. We stopped the week around 1.13000, which is a big level to break lower. From the chart below you can see that 1.1315 is a 50% retracement from the recent highs. I see support at 1.1250 to resistance at 1.1390.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5269\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015-1024x450.png\" alt=\"EURUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nGBP/USD: Closing Price 1.5237. I was all set to go long this pair as I was expecting weaker NFP data. The blow out numbers took the market a little by surprise. The pair for now is not front and centre for me. Support will be big at 1.5200 and resistance is at 1.5270. The chart below shows the details.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5268\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015-1024x450.png\" alt=\"GBPUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nAUD/USD: Closing Price 0.7786. Despite the DXY breaking out last week, the AUD/USD did not fall as I thought it would have. I am still short a very small position and under water with the trade. I must admit as the DXY strengthened last week I expected this trade to be positive by the close of the weeks trading. We did however close the week below 0.7820, which is somewhat bearish. Looking ahead I see 0.7690 as support and 0.7900 as resistance.\r\n\r\nNZD/USD: Closing Price 0.7339. This pair was a little more bearish than the Aussie, but still not as big a fall as I was expecting after NFP. 0.7310 offers limited support before 0.7250. Resistance should be good at 0.7450.\r\n\r\nUSD/CAD: Closing Price 1.2518. This pair is like a bloody yo-yo. I do not know whether I am coming or going with it. The price of oil is playing havoc with it and on Friday last week the Canadian Jobs data was good, but the U.S. results from NFP out-played the CAD data and drove the pair higher, thankfully, as I am still miraculously still long. Support is at 1.2350 and resistance after 1.2540 is 1.2600.\r\n\r\nUSD/CHF: Closing Price 0.9254. We are starting to see patterns and moves on the charts again. Many brokers have tightened up on trading CHF pairs, although there looks to be opportunities coming up. I am looking at 0.9180 offering some support and 0.9350 is the next resistance.\r\n\r\nUSD/JPY: Closing Price 119.12. The JPY should now in my opinion get directional. As soon as the DXY breakout is confirmed I think the JPY will weaken its way through to 121.80 and beyond. The only thing stopping me entering long at the moment is U.S. equities. The fact that in the past week U.S. equities had gone up and the USD/JPY failed to really move in tandem concerns me. Support is at 118.00 and the next resistance is at 120.00\r\n\r\n&nbsp;\r\n\r\n5. THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?\r\n\r\n5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\nIf 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: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi.\r\n\r\nTUESDAY: AUD – Employment Data.\r\n\r\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales.\r\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n5.3 FINAL THOUGHTS / CLOSING COMMENTS:\r\n\r\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\nConsistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT\r\n\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\nDISCLAIMER &amp; OTHER DATA:\r\n\r\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, www.weeklyfxdrivethru.com will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\nTRADING &amp; PERFORMANCES DISCLAIMER:\r\n\r\nFLASH, 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.','THE MERRY-GO-ROUND CONTINUES…OR DOES IT?','','publish','open','closed','','5285-2','','','2015-02-08 05:40:07','2015-02-08 10:40:07','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5285',0,'member_posts','',0),(5286,1,'2015-02-08 05:18:07','2015-02-08 10:18:07','THE PREMIUM SERVICE\n(The Home of Single-Lot $$$$ Trading)\n\nDATE: 08.02.2015 \nREFERENCE: #46\nBLOG: THE PREMIUM SERVICE\n\nTITLE: \n\nTHE MERRY-GO-ROUND CONTINUES…OR DOES IT?\n\n1. INTRODUCTION:\n\nThank God that last week is over. \n\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\n\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\n\nDuring last week apart from the “Squeeze Day” we had some key data and news releases.\n\n•	Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode. \n\n•	UK all PMI’s beat (Which made the GBP very bullish).\n\n•	The RBA cut interest rates.\n\n•	RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.\n\n•	CAD jobs numbers were good.\n\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\n\nLooking forward, the pick of the news events for me this week are: -\n\nRBA - Governor Glenn Stevens speaking twice.\nAUD - Employment Data (watch the part-timers they screw with the numbers).\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\nUSD – Core Retail Sales.\n\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\n\nTime will tell.\n\n2. WHAT’S ON MY MIND: - \nTHE FUNDAMENTAL TRADERS OVERVIEW:\n\nTHE MERRY-GO-ROUND CONTINUES…OR DOES IT?\n\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\n\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride. \n\nIs it fun…you be the judge?\n\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\n\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\n\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\n\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\n\nMoving on from the pleasantries;\n\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline. \n\nSo does the merry-go-round continue?\n\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while. \n\nWhat would I like to see happen?\n\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\n\nSo what currency pairs will I be focused on and to what levels?\n\n1. EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.\n\n2. EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\nNOTE: This direction is supported by ECB policy.\n\n3. USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows? \nNOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.\n\n4. AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.\n\n5. NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.\n\n6. USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.\n\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\n\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\n\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive. \n\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\n\n3. THE PREMIUM SERVICE: \n\nSUMMARY OF PERFORMANCE:\n\n3.1 OVERVIEW:\n\nFor 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 www.weeklyfxdrivethru.com 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.\n\n3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:\n\nFull details regarding the PREMIUM SERVICE can be found on my website www.weeklyfxdrivethru.com \nOn 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.\n\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\n\n10 weeks - $200.00\n20 weeks - $350.00\n40 weeks - $500.00\n\n3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:\n\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\n\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\n\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\n\nThe usual summary charts detailing the week and year to date performances, are below: -\n\n3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\n\n3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:\n\n3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH & YTD:\n\n3.4 THE PREMIUM SERVICE – 2015 PROMOTION:\n\nTHE PREMIUM SERVICE\n(The Home of Single-Lot Trading)\n\nFOR JANUARY and FEBRUARY 2015\nONLY\nTHE PREMIUM SERVICE\nOffers a\n“BONUS WEEKS”\nLIMITED TIME PROMOTION:\n\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\n\nIf 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.\n\nThis 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)\n\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by\nAvaTrade and Blackwell Global.\n\nIf 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.\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\n\nThe choice is yours.\n\nThis promotion with my associated trading partners will expire of Saturday 28th\nFebruary 2015…it is really very limited: -\n\n1. Subscribe to the PREMIUM SERVICE: \n\nYou will need to go to the welcome page of my website www.weeklyfxdrivethru.com \nClick on the sign-up tab at the top of the page.\n\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\n10 weeks = $200.00\n20 weeks = $350.00\n40 weeks = $500.00 (full year / annual subscription)\n\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times. \n\nHence, 40 weeks is equal to an annual subscription.\n\n2. Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website. \n\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\n\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\n\nAll the banners are on the welcome page of my website\nwww.weeklyfxdrivethru.com\n\n3. PREMIUM SERVICE – BONUS WEEKS PROMOTION:\n\nOnce the LIVE trading account is confirmed and funded, I will extended\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at premiumservice@weeklyfxdrivethru.com: -\n\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\nYour subscription would be equivalent to $13.33 per week.\n\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\nYour subscription would be equivalent to $11.66 per week.\n\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\nYour subscription would be equivalent to $8.33 per week.\n\nThis 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. \n\nIt would hopefully be the start of a very profitable relationship together.\n\n4. PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:\n\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION. \n\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\nPREMIUM 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.\n\nThis 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\n\n4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\n\n4.1 EDUCATION:\n\nPOSITION SIZING…\nTIPS ON HOW TO AVOID RISKING TOO MUCH\n\nIn the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading. I thought that it would be a good idea to revisit this topic once more from a different perspective.\n\nI believe that the proper position sizing is THE single most important skill a trader should have. Yes, That’s right – it’s that critical.\n\nSimply put, proper position sizing means setting the correct amount of lots (MICRO, MINI or STANDARD) to buy or sell a currency pair. In other words, it involves finding the position size that will keep you within your risk comfort level.\n\nProper POSITION SIZING is a key element in RISK MANAGEMENT. And as we’ve been told many times, RISK MANAGEMENT can determine whether you live to trade another day or not. It can keep you from risking too much on a trade and blowing up your account.\n\nLet me spell it out in my style:\n\nCAPITAL PRESERVATION is PARAMOUNT TO TRADING FOREX. \n\nLONGEVITY can only be achieved through TRADING CONSISTENCY.\n\nPOSITION SIZING allows you to come back the next day.\n\nTRADE PLANS with RISK MANAGEMENT = LONGEVITY.\n(Establish your RISK TOLERANCES)\n\nSure, when you bet big, you can win big. But what happens when you lose? You don’t need to be a brain surgeon to figure that one out – you lose big too.\n\nWithout knowing how to size your positions properly, you may end up taking trades that are far too large for you. In such cases, you become highly vulnerable when the market moves even just a few pips against you. Here are a couple of tips to avoid risking too much.\n\n1. IDENTIFY AND ACKNOWLEDGE:\n\nNobody does something just for the heck of it. Binge eaters don\'t just overeat just so they can eat a lot. In one-way or another, they get something out of it, some sort of self-fulfillment perhaps.\n\nThe same is true for a trader who always finds himself or herself betting too much on his trades even when past experience tells him it’s not a good idea. Why do they keep on doing it?\n\nA little introspection can make one realize that it’s more than just about being greedy. For most traders, they realize that their aggressive behavior is tied to their self-worth. They bet big in the hope that they win big. The prospect of massive gains consequently makes them feel good about themselves.\n\nThe problem though is that they don’t fully understand how much they could lose and they find themselves being unable to control their emotions when the price goes against their way, even by just a few pips.\n\nIn order to address it, one has to acknowledge that there is indeed a problem and that will make a trader realize that this mindset is flawed. With time and conscious effort, he will eventually realize that his trading positions don’t measure his worth as a trader.\n\n2. KNOW YOUR LIMITS:\n\nYou also need to find out your tolerance for risk. There are two opposite sides in the trading spectrum with one extreme being risk-seeking and the other being risk averse. Do you know where you stand? \n\nAlthough most traders risk a fixed percentage of their account on a trade, there’s no one size fits all method to go about it.\n\nPersonally, I say 3% of your account at risk at any one time and 0.5% risk of your account per trade. You may have different risk levels you are prepared to tolerate. This is critical to success. MANAGING RISK and knowing your RISK TOLERANCES are the critical success factors to trading the Forex Market.\n\nBefore you even get to the mathematical aspect of it, you first need to determine your psychological limits for risk. If you’re unsure how to go about it, take it slow. Adjust your position sizes according to the potential losses that you know you can sustain. The basic rule is to keep them small enough so that even when you lose, they don’t evoke any strong emotional response that could derail your trading.\n\nOften times, traders make the mistake of focusing solely on finding the perfect entries and exits, but what really spells the difference between successful and unsuccessful traders is risk management. Its something that should never be taken for granted and the first step towards smart RISK MANAGEMENT is proper POSITION SIZING.\n\nInside the PREMIUM SERVICE under the EDUCATION tab you will find TRADING ESSENTIALS contained in this folder there are many articles that I have posted that refer to the other key topics listed in this article: -\n\nRISK MANAGEMENT\nTRADE PLANS\nRISK TOLERANCES\nLONGEVITY IN TRADING\nCAPITAL PRESERVATION\nPOSITION SIZING\n\nThese should be read in conjunction with this article.\n\n4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:\n\nBelow is the current spread sheet showing the existing live trades. \n\n(INSERT EXCEL SPREADSHEET)\n\n4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:\n\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR. Those with a reference number are already placed with my brokers. Any others listed will be allocated a reference number as I place the trade with my broker. This may not happen on Monday morning, it may be delayed to verify the USD breakout as per my comments in the blog.\n\n(INSERT EXCEL SPREADSHEET)\n\nI have listed the EUR/USD as a potential short trade. On the chart I have stated this may possibly be a FLASH TRADE rather than a (LIMIT ORDER) RADAR TRADE. It all depends on the activity tonight through Monday. I do see a move lower with this pair, but it’s all about how and where to enter short in my opinion. Please bear with me.\nSTAIR STEPPING STOP PROTECTION (SSSP):\n\nSince launching the premium service with three types of trades (FLASH, RADAR and FUNDAMENTAL), I have often been asked “What was my original position size and where did I consider it a good place to add to the original trade as it took traction”? This has been particularly relevant to FUNDAMENTAL TRADES. On a trade-by-trade basis I have spoken with several subscribers regarding where I am looking to add so that it is not a surprise when a tweet is sent. I have done some analysis in the background on how to make this information readily available every time I suggest a FUNDAMENTAL TRADE and I feel I now have something I can share with you. (It may still require a little tweaking so bear with me, I did promise some subscribers it would be ready by the end of January)\n\nFrom today onwards all FUNDAMENTAL TRADES suggested via THE PREMIUM SERVICE EMAIL ALERTS will contain a second page detailing the SSSP and a few further details about the currency pair such as its ATR. The main focus however will be on the areas I am thinking where it is good to add and when I think it would be a good idea to protect profits by moving stops. By the way the SSSP is so called because if you were to chart when you add and when you protect your trade it looks like a staircase.\n\nWith regards to the existing FUNDAMENTAL TRADES, I want to look at the charts for each trade and add in where I think the trades should be added to and highlight where stop placements should be set to preserve $$$$ as the trade progresses.\n\nUsing the SSSP will hopefully help with POSITION SIZING as you can plot the total TRADE SIZE from day one and if you want to add in more trades than me the formulas will be there for you to adapt.\n\nI want to review the existing 4 FUNDAMENTAL TRADES and get into more details of what I look at. If you think that this is overkill and too technical bear with me and I apologise in advance, but I need to get back to some basics on these trades: -\n\nFUN105 GBP/CAD long\nFUN107 GBP/AUD long\nFUN108 GBP/NZD long (This was previously FT283)\nFUN109 EUR/CHF long (This was previously FT286)\n\nAs always any charts I submit are wiped of a lot of the data I use in order to have them as clean, clear and having only relevant content displayed. If you ever want a more detailed version just ask. \n\nFUN105 – GBP/CAD:\n\nThe original chart posted as the trade was suggested is the first chart below. \nYou can see that as oil drove this pair lower we held the horizontal support of 1.8661 on the chart. \nI suggested a stop below this at 1.8610.\nThe Monthly ATR of this pair is 700 pips.\nThis is a long-term trade so my present stop is NOT a full ATR. \nThe 61.8% retracement of 1.8496 is just above an ATR stop, which should be from a technical point at 1.8420 and not just below the horizontal support at 1.8610.\n\n(INSERT GBP/CAD – MONTHLY CHART (1) FROM FX PRO)\n\nThe chart below looks at where I think we should be adding to our positions as the trade takes shape.\nThis is a potentially big move that may or may not happen, but research still needs to be done.\nI have highlighted 5 places to possibly add. I will be adding at these places.\nFrom start to my goal this projected trade has over 1,600 in pips available to take profits from, you do not need to be greedy because currencies DO NOT move in a straight line and the volatility is much, much higher with the commodity cross-rate pairs.\nI have updated the FUN105 email alert notification and I will email this later today prior to the open. \n\n(INSERT GBP/CAD – MONTHLY CHART (2) FROM FX PRO)\n\nFUN107 – GBP/AUD:\n\nThe original chart posted when the trade was suggested is below.\nThis pair looks to be in a breakout move. It will of course be helped by the RBA rate cut and the more dovish stance taken.\nSticking to the “technical”.\nThe Monthly ATR of this pair is around 850 pips, which places the stop at 1.8710. This is considerably lower than 1.9150 that is being used currently. So there is capacity for a move lower with the stop loss.\n\n(INSERT GBP/AUD MONTHLY CHART (1) FROM FX PRO)\n\nThe chart below shows the potential areas to add to additional positions to the trade.\nThis trade has a projected total 2,740 pips; potentially a big trade.\n\n(INSERT GBP/AUD MONTHLY CHART (2) FROM FX PRO)\n\nFUN108 (WAS FT283) – GBP/NZD:\n\nThis trade has great potential. The pip value should we see the move back to the 50% resistance level on the chart is 2,357 pips.\nThe monthly ATR with pair is a staggering 900 pips.\nMy original stop is about half that from the entry level of 2.0843.\nLooking at places to add with this trade is a little difficult, as the move lower did not have many levels of support and therefore finding areas of resistance on the way back is quite difficult. It may well be that round numbers will play a part. In any event I believe that the big round number of 1.1000 needs to be passed in order for this trade to take traction higher.\nThe chart below shows areas of horizontal support and resistance where I am proposing to add to my initial trade.\n\n(INSERT GBP/NZD MONTHLY CHART FROM FX PRO)\n\nFUN109 (WAS FT286) – EUR/CHF:\n\nThis trade is a speculative trade based upon SNB chatter about the desire to have the EUR/CHF around 1.1000. With the SNB free from “the peg” there are lots of rumours about intervention, this time to raise this pair to the 1.1000 level.\nThere is no chart to show as the fall after the PEG removal has given me no history to work from.\n\nNOTE:\n\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops. \n\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers. \n\n4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:\n\nThe following currency pairs have Short Term (DAILY), Medium Term (WEEKLY) and Long Term (MONTHLY) charts all trending in the same direction.\n\nAs you will see there are very pairs with trending data. This is another reason to verify the DXY move first.\n\n4.5 THE KEY SUPPORT & RESISTANCE LEVELS WITH THE USD MAJORS:\n(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\n\nEUR/USD: Closing Price 1.1314.  On Friday afternoon more Greek news hit the wires to sell off the equity markets lower. We stopped the week around 1.13000, which is a big level to break lower. From the chart below you can see that 1.1315 is a 50% retracement from the recent highs. I see support at 1.1250 to resistance at 1.1390.\n\nGBP/USD: Closing Price 1.5237. I was all set to go long this pair as I was expecting weaker NFP data. The blow out numbers took the market a little by surprise. The pair for now is not front and centre for me. Support will be big at 1.5200 and resistance is at 1.5270. The chart below shows the details.\n\nAUD/USD: Closing Price 0.7786.  Despite the DXY breaking out last week, the AUD/USD did not fall as I thought it would have. I am still short a very small position and under water with the trade. I must admit as the DXY strengthened last week I expected this trade to be positive by the close of the weeks trading. We did however close the week below 0.7820, which is somewhat bearish. Looking ahead I see 0.7690 as support and 0.7900 as resistance.\n\nNZD/USD: Closing Price 0.7339.  This pair was a little more bearish than the Aussie, but still not as big a fall as I was expecting after NFP. 0.7310 offers limited support before 0.7250. Resistance should be good at 0.7450.\n\nUSD/CAD: Closing Price 1.2518.   This pair is like a bloody yo-yo. I do not know whether I am coming or going with it. The price of oil is playing havoc with it and on Friday last week the Canadian Jobs data was good, but the U.S. results from NFP out-played the CAD data and drove the pair higher, thankfully, as I am still miraculously still long. Support is at 1.2350 and resistance after 1.2540 is 1.2600.\n\nUSD/CHF: Closing Price 0.9254.   We are starting to see patterns and moves on the charts again. Many brokers have tightened up on trading CHF pairs, although there looks to be opportunities coming up. I am looking at 0.9180 offering some support and 0.9350 is the next resistance.\n\nUSD/JPY: Closing Price 119.12.  The JPY should now in my opinion get directional. As soon as the DXY breakout is confirmed I think the JPY will weaken its way through to 121.80 and beyond. The only thing stopping me entering long at the moment is U.S. equities. The fact that in the past week U.S. equities had gone up and the USD/JPY failed to really move in tandem concerns me. Support is at 118.00 and the next resistance is at 120.00\n\n5. THE WEEK AHEAD: -\nWHAT AM I THINKING & WHAT AM I LOOKING AT?\n\n5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\n\nIf 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: -\n\nGo to my website: - www.weeklyfxdrivethru.com\n\nOn 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.\n\nI do NOT sell your email data to anyone…do not worry.\n\n5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\n\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\n\nMONDAY: AUD – NAB Business Confidence.\nMONDAY: CNY – CPi.\n\nTUESDAY: AUD – Employment Data. \n\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\nWEDNESDAY: USD – Core Retail Sales.\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\n\nTHURSDAY: N/A.\n\nFRIDAY: N/A.\n\n5.3 FINAL THOUGHTS / CLOSING COMMENTS:\n\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\n\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency. \n\nConsistency = longevity in trading and that is a critical goal.\nIT IS THE KEY MEASUREMENT\n\nBefore 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.\n\nTake care.\n\nScott Pickering\nThe Pip Accumulator\nSunday February 8th 2015\n\nEMAIL / FOLLOW ME AT:\npremiumservice@weeklyfxdrivethru.com\nTwitter: @pipaccumulator\nTwitter: @ThePremService\nGoogle+/scottpickering\nTumblr: thepipaccumulator\n\nDISCLAIMER & OTHER DATA:\n\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\n\nThere 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.\n\nUnlike 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.\n\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\n\nAny reader who buys products or services from any advertiser via a banner on my website, www.weeklyfxdrivethru.com will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\n\nTRADING & PERFORMANCES DISCLAIMER:\n\nFLASH, 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.\n\n<!--more-->\n\n<!--more-->','','','inherit','open','closed','','5285-revision-v1','','','2015-02-08 05:18:07','2015-02-08 10:18:07','',5285,'https://weeklyfxdrivethru.com/5285-revision-v1/',0,'revision','',0),(5288,1,'2015-02-08 05:40:07','2015-02-08 10:40:07','<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE PREMIUM SERVICE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> (The Home of Single-Lot $$$$ Trading)</strong></span></h3>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. INTRODUCTION:</strong></span>\r\n\r\nThank God that last week is over.\r\n\r\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\r\n\r\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\r\n\r\nDuring last week apart from the “Squeeze Day” we had some key data and news releases.\r\n\r\n• Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.\r\n\r\n• UK all PMI’s beat (Which made the GBP very bullish).\r\n\r\n• The RBA cut interest rates.\r\n\r\n• RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.\r\n\r\n• CAD jobs numbers were good.\r\n\r\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\r\n\r\nLooking forward, the pick of the news events for me this week are: -\r\n\r\nRBA - Governor Glenn Stevens speaking twice.\r\nAUD - Employment Data (watch the part-timers they screw with the numbers).\r\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\r\nUSD – Core Retail Sales.\r\n\r\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>2. WHAT’S ON MY MIND: -</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong></p>\r\n&nbsp;\r\n\r\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\r\n\r\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.\r\n\r\nIs it fun…you be the judge?\r\n\r\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\r\n\r\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\r\n\r\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\r\n\r\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\r\n\r\nMoving on from the pleasantries;\r\n\r\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.\r\n\r\nSo does the merry-go-round continue?\r\n\r\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.\r\n\r\nWhat would I like to see happen?\r\n\r\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\r\n\r\nSo what currency pairs will I be focused on and to what levels?\r\n\r\n1. EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\r\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.\r\n\r\n2. EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\r\nNOTE: This direction is supported by ECB policy.\r\n\r\n3. USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?\r\nNOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.\r\n\r\n4. AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\r\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.\r\n\r\n5. NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\r\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.\r\n\r\n6. USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.\r\n\r\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\r\n\r\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\r\n\r\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.\r\n\r\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. THE PREMIUM SERVICE:</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong>SUMMARY OF PERFORMANCE:</strong></span>\r\n\r\n&nbsp;\r\n\r\n3.1 OVERVIEW:\r\n\r\nFor 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 www.weeklyfxdrivethru.com 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.\r\n\r\n&nbsp;\r\n\r\n3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website www.weeklyfxdrivethru.com\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n&nbsp;\r\n\r\n3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:\r\n\r\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\r\n\r\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\r\n\r\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\"><img class=\"aligncenter size-full wp-image-5254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\" alt=\"PROFIT-LOSS RATIOS 08022015\" width=\"405\" height=\"587\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\"><img class=\"aligncenter size-full wp-image-5256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\" alt=\"PREM SERV PROFITS 1 08022015\" width=\"456\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\"><img class=\"aligncenter size-full wp-image-5257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\" alt=\"PREM SERV PROFITS2 08022015\" width=\"459\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4 THE PREMIUM SERVICE – 2015 PROMOTION:\r\n\r\nTHE PREMIUM SERVICE\r\n(The Home of Single-Lot Trading)\r\n\r\nFOR JANUARY and FEBRUARY 2015\r\nONLY\r\nTHE PREMIUM SERVICE\r\nOffers a\r\n“BONUS WEEKS”\r\nLIMITED TIME PROMOTION:\r\n\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by\r\nAvaTrade and Blackwell Global.\r\n\r\nIf 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.\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\nFebruary 2015…it is really very limited: -\r\n\r\n1. Subscribe to the PREMIUM SERVICE:\r\n\r\nYou will need to go to the welcome page of my website www.weeklyfxdrivethru.com\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n\r\n2. Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.\r\n\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\nwww.weeklyfxdrivethru.com\r\n\r\n3. PREMIUM SERVICE – BONUS WEEKS PROMOTION:\r\n\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at premiumservice@weeklyfxdrivethru.com: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n4. PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:\r\n\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></span>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n\r\n4.1 EDUCATION:\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>POSITION SIZING…</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> TIPS ON HOW TO AVOID RISKING TOO MUCH</strong></span></p>\r\nIn the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading. I thought that it would be a good idea to revisit this topic once more from a different perspective.\r\n\r\nI believe that the proper position sizing is THE single most important skill a trader should have. Yes, That’s right – it’s that critical.\r\n\r\nSimply put, proper position sizing means setting the correct amount of lots (MICRO, MINI or STANDARD) to buy or sell a currency pair. In other words, it involves finding the position size that will keep you within your risk comfort level.\r\n\r\nProper POSITION SIZING is a key element in RISK MANAGEMENT. And as we’ve been told many times, RISK MANAGEMENT can determine whether you live to trade another day or not. It can keep you from risking too much on a trade and blowing up your account.\r\n\r\nLet me spell it out in my style:\r\n\r\nCAPITAL PRESERVATION is PARAMOUNT TO TRADING FOREX.\r\n\r\nLONGEVITY can only be achieved through TRADING CONSISTENCY.\r\n\r\nPOSITION SIZING allows you to come back the next day.\r\n\r\nTRADE PLANS with RISK MANAGEMENT = LONGEVITY.\r\n(Establish your RISK TOLERANCES)\r\n\r\nSure, when you bet big, you can win big. But what happens when you lose? You don’t need to be a brain surgeon to figure that one out – you lose big too.\r\n\r\nWithout knowing how to size your positions properly, you may end up taking trades that are far too large for you. In such cases, you become highly vulnerable when the market moves even just a few pips against you. Here are a couple of tips to avoid risking too much.\r\n\r\n1. IDENTIFY AND ACKNOWLEDGE:\r\n\r\nNobody does something just for the heck of it. Binge eaters don\'t just overeat just so they can eat a lot. In one-way or another, they get something out of it, some sort of self-fulfillment perhaps.\r\n\r\nThe same is true for a trader who always finds himself or herself betting too much on his trades even when past experience tells him it’s not a good idea. Why do they keep on doing it?\r\n\r\nA little introspection can make one realize that it’s more than just about being greedy. For most traders, they realize that their aggressive behavior is tied to their self-worth. They bet big in the hope that they win big. The prospect of massive gains consequently makes them feel good about themselves.\r\n\r\nThe problem though is that they don’t fully understand how much they could lose and they find themselves being unable to control their emotions when the price goes against their way, even by just a few pips.\r\n\r\nIn order to address it, one has to acknowledge that there is indeed a problem and that will make a trader realize that this mindset is flawed. With time and conscious effort, he will eventually realize that his trading positions don’t measure his worth as a trader.\r\n\r\n2. KNOW YOUR LIMITS:\r\n\r\nYou also need to find out your tolerance for risk. There are two opposite sides in the trading spectrum with one extreme being risk-seeking and the other being risk averse. Do you know where you stand?\r\n\r\nAlthough most traders risk a fixed percentage of their account on a trade, there’s no one size fits all method to go about it.\r\n\r\nPersonally, I say 3% of your account at risk at any one time and 0.5% risk of your account per trade. You may have different risk levels you are prepared to tolerate. This is critical to success. MANAGING RISK and knowing your RISK TOLERANCES are the critical success factors to trading the Forex Market.\r\n\r\nBefore you even get to the mathematical aspect of it, you first need to determine your psychological limits for risk. If you’re unsure how to go about it, take it slow. Adjust your position sizes according to the potential losses that you know you can sustain. The basic rule is to keep them small enough so that even when you lose, they don’t evoke any strong emotional response that could derail your trading.\r\n\r\nOften times, traders make the mistake of focusing solely on finding the perfect entries and exits, but what really spells the difference between successful and unsuccessful traders is risk management. Its something that should never be taken for granted and the first step towards smart RISK MANAGEMENT is proper POSITION SIZING.\r\n\r\nInside the PREMIUM SERVICE under the EDUCATION tab you will find TRADING ESSENTIALS contained in this folder there are many articles that I have posted that refer to the other key topics listed in this article: -\r\n\r\nRISK MANAGEMENT\r\nTRADE PLANS\r\nRISK TOLERANCES\r\nLONGEVITY IN TRADING\r\nCAPITAL PRESERVATION\r\nPOSITION SIZING\r\n\r\nThese should be read in conjunction with this article.\r\n\r\n&nbsp;\r\n\r\n4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\nBelow is the current spread sheet showing the existing live trades.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\"><img class=\"aligncenter size-full wp-image-5264\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\" alt=\"LIVE TRADES 08022015\" width=\"705\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR. Those with a reference number are already placed with my brokers. Any others listed will be allocated a reference number as I place the trade with my broker. This may not happen on Monday morning, it may be delayed to verify the USD breakout as per my comments in the blog.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\"><img class=\"aligncenter size-full wp-image-5265\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\" alt=\"TRADES ON RADAR 08022015\" width=\"711\" height=\"415\" /></a>\r\n\r\nI have listed the EUR/USD as a potential short trade. On the chart I have stated this may possibly be a FLASH TRADE rather than a (LIMIT ORDER) RADAR TRADE. It all depends on the activity tonight through Monday. I do see a move lower with this pair, but it’s all about how and where to enter short in my opinion. Please bear with me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015.png\"><img class=\"aligncenter size-large wp-image-5266\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015-1024x450.png\" alt=\"EURGBP 240M RT280 05022015\" width=\"1024\" height=\"450\" /></a>\r\n<p style=\"text-align: left;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015.png\"><img class=\"aligncenter size-large wp-image-5267\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015-1024x450.png\" alt=\"USDCHF 120M RT276 08022015\" width=\"1024\" height=\"450\" /></a></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>STAIR STEPPING STOP PROTECTION (SSSP):</strong></span></p>\r\nSince launching the premium service with three types of trades (FLASH, RADAR and FUNDAMENTAL), I have often been asked “What was my original position size and where did I consider it a good place to add to the original trade as it took traction”? This has been particularly relevant to FUNDAMENTAL TRADES. On a trade-by-trade basis I have spoken with several subscribers regarding where I am looking to add so that it is not a surprise when a tweet is sent. I have done some analysis in the background on how to make this information readily available every time I suggest a FUNDAMENTAL TRADE and I feel I now have something I can share with you. (It may still require a little tweaking so bear with me, I did promise some subscribers it would be ready by the end of January)\r\n\r\nFrom today onwards all FUNDAMENTAL TRADES suggested via THE PREMIUM SERVICE EMAIL ALERTS will contain a second page detailing the SSSP and a few further details about the currency pair such as its ATR. The main focus however will be on the areas I am thinking where it is good to add and when I think it would be a good idea to protect profits by moving stops. By the way the SSSP is so called because if you were to chart when you add and when you protect your trade it looks like a staircase.\r\n\r\nWith regards to the existing FUNDAMENTAL TRADES, I want to look at the charts for each trade and add in where I think the trades should be added to and highlight where stop placements should be set to preserve $$$$ as the trade progresses.\r\n\r\nUsing the SSSP will hopefully help with POSITION SIZING as you can plot the total TRADE SIZE from day one and if you want to add in more trades than me the formulas will be there for you to adapt.\r\n\r\nI want to review the existing 4 FUNDAMENTAL TRADES and get into more details of what I look at. If you think that this is overkill and too technical bear with me and I apologise in advance, but I need to get back to some basics on these trades: -\r\n\r\nFUN105 GBP/CAD long\r\nFUN107 GBP/AUD long\r\nFUN108 GBP/NZD long (This was previously FT283)\r\nFUN109 EUR/CHF long (This was previously FT286)\r\n\r\nAs always any charts I submit are wiped of a lot of the data I use in order to have them as clean, clear and having only relevant content displayed. If you ever want a more detailed version just ask.\r\n\r\n&nbsp;\r\n\r\nFUN105 – GBP/CAD:\r\n\r\nThe original chart posted as the trade was suggested is the first chart below.\r\nYou can see that as oil drove this pair lower we held the horizontal support of 1.8661 on the chart.\r\nI suggested a stop below this at 1.8610.\r\nThe Monthly ATR of this pair is 700 pips.\r\nThis is a long-term trade so my present stop is NOT a full ATR.\r\nThe 61.8% retracement of 1.8496 is just above an ATR stop, which should be from a technical point at 1.8420 and not just below the horizontal support at 1.8610.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015.png\"><img class=\"aligncenter size-large wp-image-5270\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015-1024x450.png\" alt=\"GBPCAD FUN105 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below looks at where I think we should be adding to our positions as the trade takes shape.\r\n\r\nThis is a potentially big move that may or may not happen, but research still needs to be done.\r\nI have highlighted 5 places to possibly add. I will be adding at these places.\r\nFrom start to my goal this projected trade has over 1,600 in pips available to take profits from, you do not need to be greedy because currencies DO NOT move in a straight line and the volatility is much, much higher with the commodity cross-rate pairs.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5271\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015-1024x450.png\" alt=\"GBPCAD FUN105(2) MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN107 – GBP/AUD:\r\n\r\nThe original chart posted when the trade was suggested is below.\r\nThis pair looks to be in a breakout move. It will of course be helped by the RBA rate cut and the more dovish stance taken.\r\nSticking to the “technical”.\r\nThe Monthly ATR of this pair is around 850 pips, which places the stop at 1.8710. This is considerably lower than 1.9150 that is being used currently. So there is capacity for a move lower with the stop loss.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015.png\"><img class=\"aligncenter size-large wp-image-5272\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below shows the potential areas to add to additional positions to the trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015.png\"><img class=\"aligncenter size-large wp-image-5273\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART(2) 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"line-height: 1.5;\">This trade has a projected total 2,740 pips; potentially a big trade.</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nFUN108 (WAS FT283) – GBP/NZD:\r\n\r\nThis trade has great potential. The pip value should we see the move back to the 50% resistance level on the chart is 2,357 pips.\r\nThe monthly ATR with pair is a staggering 900 pips.\r\nMy original stop is about half that from the entry level of 2.0843.\r\nLooking at places to add with this trade is a little difficult, as the move lower did not have many levels of support and therefore finding areas of resistance on the way back is quite difficult. It may well be that round numbers will play a part. In any event I believe that the big round number of 1.1000 needs to be passed in order for this trade to take traction higher.\r\nThe chart below shows areas of horizontal support and resistance where I am proposing to add to my initial trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5274\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015-1024x450.png\" alt=\"GBPNZD FUN108 MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN109 (WAS FT286) – EUR/CHF:\r\n\r\nThis trade is a speculative trade based upon SNB chatter about the desire to have the EUR/CHF around 1.1000. With the SNB free from “the peg” there are lots of rumours about intervention, this time to raise this pair to the 1.1000 level.\r\nThere is no chart to show as the fall after the PEG removal has given me no history to work from.\r\n\r\nNOTE:\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:\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\nAs you will see there are very pairs with trending data. This is another reason to verify the DXY move first.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\"><img class=\"aligncenter size-full wp-image-5263\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\" alt=\"TRENDING PAIRS 08022015\" width=\"391\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:\r\n(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\nEUR/USD: Closing Price 1.1314. On Friday afternoon more Greek news hit the wires to sell off the equity markets lower. We stopped the week around 1.13000, which is a big level to break lower. From the chart below you can see that 1.1315 is a 50% retracement from the recent highs. I see support at 1.1250 to resistance at 1.1390.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5269\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015-1024x450.png\" alt=\"EURUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nGBP/USD: Closing Price 1.5237. I was all set to go long this pair as I was expecting weaker NFP data. The blow out numbers took the market a little by surprise. The pair for now is not front and centre for me. Support will be big at 1.5200 and resistance is at 1.5270. The chart below shows the details.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5268\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015-1024x450.png\" alt=\"GBPUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nAUD/USD: Closing Price 0.7786. Despite the DXY breaking out last week, the AUD/USD did not fall as I thought it would have. I am still short a very small position and under water with the trade. I must admit as the DXY strengthened last week I expected this trade to be positive by the close of the weeks trading. We did however close the week below 0.7820, which is somewhat bearish. Looking ahead I see 0.7690 as support and 0.7900 as resistance.\r\n\r\nNZD/USD: Closing Price 0.7339. This pair was a little more bearish than the Aussie, but still not as big a fall as I was expecting after NFP. 0.7310 offers limited support before 0.7250. Resistance should be good at 0.7450.\r\n\r\nUSD/CAD: Closing Price 1.2518. This pair is like a bloody yo-yo. I do not know whether I am coming or going with it. The price of oil is playing havoc with it and on Friday last week the Canadian Jobs data was good, but the U.S. results from NFP out-played the CAD data and drove the pair higher, thankfully, as I am still miraculously still long. Support is at 1.2350 and resistance after 1.2540 is 1.2600.\r\n\r\nUSD/CHF: Closing Price 0.9254. We are starting to see patterns and moves on the charts again. Many brokers have tightened up on trading CHF pairs, although there looks to be opportunities coming up. I am looking at 0.9180 offering some support and 0.9350 is the next resistance.\r\n\r\nUSD/JPY: Closing Price 119.12. The JPY should now in my opinion get directional. As soon as the DXY breakout is confirmed I think the JPY will weaken its way through to 121.80 and beyond. The only thing stopping me entering long at the moment is U.S. equities. The fact that in the past week U.S. equities had gone up and the USD/JPY failed to really move in tandem concerns me. Support is at 118.00 and the next resistance is at 120.00\r\n\r\n&nbsp;\r\n\r\n5. THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?\r\n\r\n5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\nIf 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: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi.\r\n\r\nTUESDAY: AUD – Employment Data.\r\n\r\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales.\r\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n5.3 FINAL THOUGHTS / CLOSING COMMENTS:\r\n\r\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\nConsistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT\r\n\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\nDISCLAIMER &amp; OTHER DATA:\r\n\r\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, www.weeklyfxdrivethru.com will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\nTRADING &amp; PERFORMANCES DISCLAIMER:\r\n\r\nFLASH, 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.','THE MERRY-GO-ROUND CONTINUES…OR DOES IT?','','inherit','open','closed','','5285-revision-v1','','','2015-02-08 05:40:07','2015-02-08 10:40:07','',5285,'https://weeklyfxdrivethru.com/5285-revision-v1/',0,'revision','',0),(5287,1,'2015-02-08 05:36:00','2015-02-08 10:36:00','<h3 style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>THE PREMIUM SERVICE</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> (The Home of Single-Lot $$$$ Trading)</strong></span></h3>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>1. INTRODUCTION:</strong></span>\r\n\r\nThank God that last week is over.\r\n\r\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\r\n\r\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\r\n\r\nDuring last week apart from the “Squeeze Day” we had some key data and news releases.\r\n\r\n• Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.\r\n\r\n• UK all PMI’s beat (Which made the GBP very bullish).\r\n\r\n• The RBA cut interest rates.\r\n\r\n• RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.\r\n\r\n• CAD jobs numbers were good.\r\n\r\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\r\n\r\nLooking forward, the pick of the news events for me this week are: -\r\n\r\nRBA - Governor Glenn Stevens speaking twice.\r\nAUD - Employment Data (watch the part-timers they screw with the numbers).\r\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\r\nUSD – Core Retail Sales.\r\n\r\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>2. WHAT’S ON MY MIND: -</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> THE FUNDAMENTAL TRADERS OVERVIEW:</strong></span>\r\n\r\n&nbsp;\r\n<p style=\"text-align: center;\"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong></p>\r\n&nbsp;\r\n\r\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\r\n\r\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.\r\n\r\nIs it fun…you be the judge?\r\n\r\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\r\n\r\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\r\n\r\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\r\n\r\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\r\n\r\nMoving on from the pleasantries;\r\n\r\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.\r\n\r\nSo does the merry-go-round continue?\r\n\r\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.\r\n\r\nWhat would I like to see happen?\r\n\r\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\r\n\r\nSo what currency pairs will I be focused on and to what levels?\r\n\r\n1. EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\r\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.\r\n\r\n2. EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\r\nNOTE: This direction is supported by ECB policy.\r\n\r\n3. USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?\r\nNOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.\r\n\r\n4. AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\r\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.\r\n\r\n5. NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\r\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.\r\n\r\n6. USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.\r\n\r\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\r\n\r\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\r\n\r\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.\r\n\r\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>3. THE PREMIUM SERVICE:</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong>SUMMARY OF PERFORMANCE:</strong></span>\r\n\r\n&nbsp;\r\n\r\n3.1 OVERVIEW:\r\n\r\nFor 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 www.weeklyfxdrivethru.com 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.\r\n\r\n&nbsp;\r\n\r\n3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website www.weeklyfxdrivethru.com\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n&nbsp;\r\n\r\n3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:\r\n\r\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\r\n\r\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\r\n\r\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\"><img class=\"aligncenter size-full wp-image-5254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\" alt=\"PROFIT-LOSS RATIOS 08022015\" width=\"405\" height=\"587\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\"><img class=\"aligncenter size-full wp-image-5256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\" alt=\"PREM SERV PROFITS 1 08022015\" width=\"456\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\"><img class=\"aligncenter size-full wp-image-5257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\" alt=\"PREM SERV PROFITS2 08022015\" width=\"459\" height=\"419\" /></a>\r\n\r\n&nbsp;\r\n\r\n3.4 THE PREMIUM SERVICE – 2015 PROMOTION:\r\n\r\nTHE PREMIUM SERVICE\r\n(The Home of Single-Lot Trading)\r\n\r\nFOR JANUARY and FEBRUARY 2015\r\nONLY\r\nTHE PREMIUM SERVICE\r\nOffers a\r\n“BONUS WEEKS”\r\nLIMITED TIME PROMOTION:\r\n\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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)\r\n\r\nThe promotion also applies to CWMFX accounts as well. They offer very tight rate spreads as an alternative to account opening bonuses offered by\r\nAvaTrade and Blackwell Global.\r\n\r\nIf 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.\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\nFebruary 2015…it is really very limited: -\r\n\r\n1. Subscribe to the PREMIUM SERVICE:\r\n\r\nYou will need to go to the welcome page of my website www.weeklyfxdrivethru.com\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n10 weeks = $200.00\r\n20 weeks = $350.00\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n\r\n2. Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.\r\n\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\nwww.weeklyfxdrivethru.com\r\n\r\n3. PREMIUM SERVICE – BONUS WEEKS PROMOTION:\r\n\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\nPREMIUM SERVICE subscription periods as follows after you have advised me what you have done via email at premiumservice@weeklyfxdrivethru.com: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n\r\n4. PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:\r\n\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\"><strong>4. PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</strong></span>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n&nbsp;\r\n\r\n4.1 EDUCATION:\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>POSITION SIZING…</strong></span>\r\n<span style=\"text-decoration: underline;\"><strong> TIPS ON HOW TO AVOID RISKING TOO MUCH</strong></span></p>\r\nIn the past year or so I have written two or three articles on this subject and, in addition, POSITION SIZING has featured within other articles important to Forex Trading. I thought that it would be a good idea to revisit this topic once more from a different perspective.\r\n\r\nI believe that the proper position sizing is THE single most important skill a trader should have. Yes, That’s right – it’s that critical.\r\n\r\nSimply put, proper position sizing means setting the correct amount of lots (MICRO, MINI or STANDARD) to buy or sell a currency pair. In other words, it involves finding the position size that will keep you within your risk comfort level.\r\n\r\nProper POSITION SIZING is a key element in RISK MANAGEMENT. And as we’ve been told many times, RISK MANAGEMENT can determine whether you live to trade another day or not. It can keep you from risking too much on a trade and blowing up your account.\r\n\r\nLet me spell it out in my style:\r\n\r\nCAPITAL PRESERVATION is PARAMOUNT TO TRADING FOREX.\r\n\r\nLONGEVITY can only be achieved through TRADING CONSISTENCY.\r\n\r\nPOSITION SIZING allows you to come back the next day.\r\n\r\nTRADE PLANS with RISK MANAGEMENT = LONGEVITY.\r\n(Establish your RISK TOLERANCES)\r\n\r\nSure, when you bet big, you can win big. But what happens when you lose? You don’t need to be a brain surgeon to figure that one out – you lose big too.\r\n\r\nWithout knowing how to size your positions properly, you may end up taking trades that are far too large for you. In such cases, you become highly vulnerable when the market moves even just a few pips against you. Here are a couple of tips to avoid risking too much.\r\n\r\n1. IDENTIFY AND ACKNOWLEDGE:\r\n\r\nNobody does something just for the heck of it. Binge eaters don\'t just overeat just so they can eat a lot. In one-way or another, they get something out of it, some sort of self-fulfillment perhaps.\r\n\r\nThe same is true for a trader who always finds himself or herself betting too much on his trades even when past experience tells him it’s not a good idea. Why do they keep on doing it?\r\n\r\nA little introspection can make one realize that it’s more than just about being greedy. For most traders, they realize that their aggressive behavior is tied to their self-worth. They bet big in the hope that they win big. The prospect of massive gains consequently makes them feel good about themselves.\r\n\r\nThe problem though is that they don’t fully understand how much they could lose and they find themselves being unable to control their emotions when the price goes against their way, even by just a few pips.\r\n\r\nIn order to address it, one has to acknowledge that there is indeed a problem and that will make a trader realize that this mindset is flawed. With time and conscious effort, he will eventually realize that his trading positions don’t measure his worth as a trader.\r\n\r\n2. KNOW YOUR LIMITS:\r\n\r\nYou also need to find out your tolerance for risk. There are two opposite sides in the trading spectrum with one extreme being risk-seeking and the other being risk averse. Do you know where you stand?\r\n\r\nAlthough most traders risk a fixed percentage of their account on a trade, there’s no one size fits all method to go about it.\r\n\r\nPersonally, I say 3% of your account at risk at any one time and 0.5% risk of your account per trade. You may have different risk levels you are prepared to tolerate. This is critical to success. MANAGING RISK and knowing your RISK TOLERANCES are the critical success factors to trading the Forex Market.\r\n\r\nBefore you even get to the mathematical aspect of it, you first need to determine your psychological limits for risk. If you’re unsure how to go about it, take it slow. Adjust your position sizes according to the potential losses that you know you can sustain. The basic rule is to keep them small enough so that even when you lose, they don’t evoke any strong emotional response that could derail your trading.\r\n\r\nOften times, traders make the mistake of focusing solely on finding the perfect entries and exits, but what really spells the difference between successful and unsuccessful traders is risk management. Its something that should never be taken for granted and the first step towards smart RISK MANAGEMENT is proper POSITION SIZING.\r\n\r\nInside the PREMIUM SERVICE under the EDUCATION tab you will find TRADING ESSENTIALS contained in this folder there are many articles that I have posted that refer to the other key topics listed in this article: -\r\n\r\nRISK MANAGEMENT\r\nTRADE PLANS\r\nRISK TOLERANCES\r\nLONGEVITY IN TRADING\r\nCAPITAL PRESERVATION\r\nPOSITION SIZING\r\n\r\nThese should be read in conjunction with this article.\r\n\r\n&nbsp;\r\n\r\n4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:\r\n\r\nBelow is the current spread sheet showing the existing live trades.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\"><img class=\"aligncenter size-full wp-image-5264\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/LIVE-TRADES-08022015.png\" alt=\"LIVE TRADES 08022015\" width=\"705\" height=\"488\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR. Those with a reference number are already placed with my brokers. Any others listed will be allocated a reference number as I place the trade with my broker. This may not happen on Monday morning, it may be delayed to verify the USD breakout as per my comments in the blog.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\"><img class=\"aligncenter size-full wp-image-5265\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-08022015.png\" alt=\"TRADES ON RADAR 08022015\" width=\"711\" height=\"415\" /></a>\r\n\r\nI have listed the EUR/USD as a potential short trade. On the chart I have stated this may possibly be a FLASH TRADE rather than a (LIMIT ORDER) RADAR TRADE. It all depends on the activity tonight through Monday. I do see a move lower with this pair, but it’s all about how and where to enter short in my opinion. Please bear with me.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015.png\"><img class=\"aligncenter size-large wp-image-5266\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURGBP-240M-RT280-05022015-1024x450.png\" alt=\"EURGBP 240M RT280 05022015\" width=\"1024\" height=\"450\" /></a>\r\n<p style=\"text-align: left;\"><a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015.png\"><img class=\"aligncenter size-large wp-image-5267\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/USDCHF-120M-RT276-08022015-1024x450.png\" alt=\"USDCHF 120M RT276 08022015\" width=\"1024\" height=\"450\" /></a></p>\r\n<p style=\"text-align: center;\"></p>\r\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline;\"><strong>STAIR STEPPING STOP PROTECTION (SSSP):</strong></span></p>\r\nSince launching the premium service with three types of trades (FLASH, RADAR and FUNDAMENTAL), I have often been asked “What was my original position size and where did I consider it a good place to add to the original trade as it took traction”? This has been particularly relevant to FUNDAMENTAL TRADES. On a trade-by-trade basis I have spoken with several subscribers regarding where I am looking to add so that it is not a surprise when a tweet is sent. I have done some analysis in the background on how to make this information readily available every time I suggest a FUNDAMENTAL TRADE and I feel I now have something I can share with you. (It may still require a little tweaking so bear with me, I did promise some subscribers it would be ready by the end of January)\r\n\r\nFrom today onwards all FUNDAMENTAL TRADES suggested via THE PREMIUM SERVICE EMAIL ALERTS will contain a second page detailing the SSSP and a few further details about the currency pair such as its ATR. The main focus however will be on the areas I am thinking where it is good to add and when I think it would be a good idea to protect profits by moving stops. By the way the SSSP is so called because if you were to chart when you add and when you protect your trade it looks like a staircase.\r\n\r\nWith regards to the existing FUNDAMENTAL TRADES, I want to look at the charts for each trade and add in where I think the trades should be added to and highlight where stop placements should be set to preserve $$$$ as the trade progresses.\r\n\r\nUsing the SSSP will hopefully help with POSITION SIZING as you can plot the total TRADE SIZE from day one and if you want to add in more trades than me the formulas will be there for you to adapt.\r\n\r\nI want to review the existing 4 FUNDAMENTAL TRADES and get into more details of what I look at. If you think that this is overkill and too technical bear with me and I apologise in advance, but I need to get back to some basics on these trades: -\r\n\r\nFUN105 GBP/CAD long\r\nFUN107 GBP/AUD long\r\nFUN108 GBP/NZD long (This was previously FT283)\r\nFUN109 EUR/CHF long (This was previously FT286)\r\n\r\nAs always any charts I submit are wiped of a lot of the data I use in order to have them as clean, clear and having only relevant content displayed. If you ever want a more detailed version just ask.\r\n\r\n&nbsp;\r\n\r\nFUN105 – GBP/CAD:\r\n\r\nThe original chart posted as the trade was suggested is the first chart below.\r\nYou can see that as oil drove this pair lower we held the horizontal support of 1.8661 on the chart.\r\nI suggested a stop below this at 1.8610.\r\nThe Monthly ATR of this pair is 700 pips.\r\nThis is a long-term trade so my present stop is NOT a full ATR.\r\nThe 61.8% retracement of 1.8496 is just above an ATR stop, which should be from a technical point at 1.8420 and not just below the horizontal support at 1.8610.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015.png\"><img class=\"aligncenter size-large wp-image-5270\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN105-08022015-1024x450.png\" alt=\"GBPCAD FUN105 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below looks at where I think we should be adding to our positions as the trade takes shape.\r\n\r\nThis is a potentially big move that may or may not happen, but research still needs to be done.\r\nI have highlighted 5 places to possibly add. I will be adding at these places.\r\nFrom start to my goal this projected trade has over 1,600 in pips available to take profits from, you do not need to be greedy because currencies DO NOT move in a straight line and the volatility is much, much higher with the commodity cross-rate pairs.\r\nI have updated the FUN105 email alert notification and I will email this later today prior to the open.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5271\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-FUN1052-MONTHLY-08022015-1024x450.png\" alt=\"GBPCAD FUN105(2) MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN107 – GBP/AUD:\r\n\r\nThe original chart posted when the trade was suggested is below.\r\nThis pair looks to be in a breakout move. It will of course be helped by the RBA rate cut and the more dovish stance taken.\r\nSticking to the “technical”.\r\nThe Monthly ATR of this pair is around 850 pips, which places the stop at 1.8710. This is considerably lower than 1.9150 that is being used currently. So there is capacity for a move lower with the stop loss.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015.png\"><img class=\"aligncenter size-large wp-image-5272\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nThe chart below shows the potential areas to add to additional positions to the trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015.png\"><img class=\"aligncenter size-large wp-image-5273\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-FUN107-MONTHLY-CHART2-08022015-1024x450.png\" alt=\"GBPAUD FUN107 MONTHLY CHART(2) 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"line-height: 1.5;\">This trade has a projected total 2,740 pips; potentially a big trade.</span>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\nFUN108 (WAS FT283) – GBP/NZD:\r\n\r\nThis trade has great potential. The pip value should we see the move back to the 50% resistance level on the chart is 2,357 pips.\r\nThe monthly ATR with pair is a staggering 900 pips.\r\nMy original stop is about half that from the entry level of 2.0843.\r\nLooking at places to add with this trade is a little difficult, as the move lower did not have many levels of support and therefore finding areas of resistance on the way back is quite difficult. It may well be that round numbers will play a part. In any event I believe that the big round number of 1.1000 needs to be passed in order for this trade to take traction higher.\r\nThe chart below shows areas of horizontal support and resistance where I am proposing to add to my initial trade.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015.png\"><img class=\"aligncenter size-large wp-image-5274\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-FUN108-MONTHLY-08022015-1024x450.png\" alt=\"GBPNZD FUN108 MONTHLY 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\n&nbsp;\r\n\r\nFUN109 (WAS FT286) – EUR/CHF:\r\n\r\nThis trade is a speculative trade based upon SNB chatter about the desire to have the EUR/CHF around 1.1000. With the SNB free from “the peg” there are lots of rumours about intervention, this time to raise this pair to the 1.1000 level.\r\nThere is no chart to show as the fall after the PEG removal has given me no history to work from.\r\n\r\nNOTE:\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:\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\nAs you will see there are very pairs with trending data. This is another reason to verify the DXY move first.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\"><img class=\"aligncenter size-full wp-image-5263\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-08022015.png\" alt=\"TRENDING PAIRS 08022015\" width=\"391\" height=\"537\" /></a>\r\n\r\n&nbsp;\r\n\r\n4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS:\r\n(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\nEUR/USD: Closing Price 1.1314. On Friday afternoon more Greek news hit the wires to sell off the equity markets lower. We stopped the week around 1.13000, which is a big level to break lower. From the chart below you can see that 1.1315 is a 50% retracement from the recent highs. I see support at 1.1250 to resistance at 1.1390.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5269\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/EURUSD-240M-08022015-1024x450.png\" alt=\"EURUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nGBP/USD: Closing Price 1.5237. I was all set to go long this pair as I was expecting weaker NFP data. The blow out numbers took the market a little by surprise. The pair for now is not front and centre for me. Support will be big at 1.5200 and resistance is at 1.5270. The chart below shows the details.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015.png\"><img class=\"aligncenter size-large wp-image-5268\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPUSD-240M-08022015-1024x450.png\" alt=\"GBPUSD 240M 08022015\" width=\"1024\" height=\"450\" /></a>\r\n\r\nAUD/USD: Closing Price 0.7786. Despite the DXY breaking out last week, the AUD/USD did not fall as I thought it would have. I am still short a very small position and under water with the trade. I must admit as the DXY strengthened last week I expected this trade to be positive by the close of the weeks trading. We did however close the week below 0.7820, which is somewhat bearish. Looking ahead I see 0.7690 as support and 0.7900 as resistance.\r\n\r\nNZD/USD: Closing Price 0.7339. This pair was a little more bearish than the Aussie, but still not as big a fall as I was expecting after NFP. 0.7310 offers limited support before 0.7250. Resistance should be good at 0.7450.\r\n\r\nUSD/CAD: Closing Price 1.2518. This pair is like a bloody yo-yo. I do not know whether I am coming or going with it. The price of oil is playing havoc with it and on Friday last week the Canadian Jobs data was good, but the U.S. results from NFP out-played the CAD data and drove the pair higher, thankfully, as I am still miraculously still long. Support is at 1.2350 and resistance after 1.2540 is 1.2600.\r\n\r\nUSD/CHF: Closing Price 0.9254. We are starting to see patterns and moves on the charts again. Many brokers have tightened up on trading CHF pairs, although there looks to be opportunities coming up. I am looking at 0.9180 offering some support and 0.9350 is the next resistance.\r\n\r\nUSD/JPY: Closing Price 119.12. The JPY should now in my opinion get directional. As soon as the DXY breakout is confirmed I think the JPY will weaken its way through to 121.80 and beyond. The only thing stopping me entering long at the moment is U.S. equities. The fact that in the past week U.S. equities had gone up and the USD/JPY failed to really move in tandem concerns me. Support is at 118.00 and the next resistance is at 120.00\r\n\r\n&nbsp;\r\n\r\n5. THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?\r\n\r\n5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:\r\n\r\nIf 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: -\r\n\r\nGo to my website: - www.weeklyfxdrivethru.com\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:\r\n\r\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi.\r\n\r\nTUESDAY: AUD – Employment Data.\r\n\r\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales.\r\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n5.3 FINAL THOUGHTS / CLOSING COMMENTS:\r\n\r\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\nConsistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT\r\n\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\nGoogle+/scottpickering\r\nTumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\nDISCLAIMER &amp; OTHER DATA:\r\n\r\nTHIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny reader who buys products or services from any advertiser via a banner on my website, www.weeklyfxdrivethru.com will automatically have my help and assistance with any issues that they may have with my partnered advertisers.\r\n\r\nTRADING &amp; PERFORMANCES DISCLAIMER:\r\n\r\nFLASH, 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.','THE MERRY-GO-ROUND CONTINUES…OR DOES IT?','','inherit','open','closed','','5285-revision-v1','','','2015-02-08 05:36:00','2015-02-08 10:36:00','',5285,'https://weeklyfxdrivethru.com/5285-revision-v1/',0,'revision','',0),(5290,1,'2015-02-08 05:57:46','2015-02-08 10:57:46','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.02.2015\r\nREFERENCE: #138</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nThank God that last week is over.\r\n\r\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\r\n\r\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\r\n\r\nDuring last week apart from the “Squeeze Day” we had some key data and news releases:-\r\n<ul>\r\n	<li>Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.</li>\r\n	<li>UK all PMI’s beat (Which made the GBP very bullish).</li>\r\n	<li>The RBA cut interest rates.</li>\r\n	<li>RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.</li>\r\n	<li>CAD jobs numbers were good.</li>\r\n</ul>\r\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\r\n\r\nLooking forward, the pick of the news events for me this week are: -\r\n\r\nRBA - Governor Glenn Stevens speaking twice.\r\nAUD - Employment Data (watch the part-timers they screw with the numbers).\r\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\r\nUSD – Core Retail Sales.\r\n\r\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong><strong> </strong></p>\r\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\r\n\r\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.\r\n\r\nIs it fun…you be the judge?\r\n\r\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\r\n\r\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\r\n\r\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\r\n\r\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\r\n\r\nMoving on from the pleasantries;\r\n\r\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.\r\n\r\nSo does the merry-go-round continue?\r\n\r\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.\r\n\r\nWhat would I like to see happen?\r\n\r\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\r\n\r\nSo what currency pairs will I be focused on and to what levels?\r\n<ol>\r\n	<li>EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\r\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\r\nNOTE: This direction is supported by ECB policy.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n	<li>USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?NOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n	<li>AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\r\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.</li>\r\n</ol>\r\n<ol start=\"5\">\r\n	<li>NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\r\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.</li>\r\n</ol>\r\n<ol start=\"6\">\r\n	<li>USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\r\n\r\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\r\n\r\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.\r\n\r\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\r\n\r\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\r\n\r\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\"><img class=\"aligncenter size-full wp-image-5254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\" alt=\"PROFIT-LOSS RATIOS 08022015\" width=\"405\" height=\"587\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\"><img class=\"aligncenter size-full wp-image-5256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\" alt=\"PREM SERV PROFITS 1 08022015\" width=\"456\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\"><img class=\"aligncenter size-full wp-image-5257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\" alt=\"PREM SERV PROFITS2 08022015\" width=\"459\" height=\"419\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION</span>\r\n\r\n<strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong>\r\n\r\n<strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong>\r\n\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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)\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li>Subscribe to the PREMIUM SERVICE:</li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n\r\n20 weeks = $350.00\r\n\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi.\r\n\r\nTUESDAY: AUD – Employment Data.\r\n\r\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales.\r\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\n\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','THE MERRY-GO-ROUND CONTINUES…OR DOES IT?','','publish','open','closed','','merry-go-round-continuesor','','','2015-02-08 05:57:46','2015-02-08 10:57:46','',0,'https://weeklyfxdrivethru.com/?p=5290',0,'post','',0),(5291,1,'2015-02-08 05:57:46','2015-02-08 10:57:46','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 08.02.2015\r\nREFERENCE: #138</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION:</span></strong></li>\r\n</ol>\r\nThank God that last week is over.\r\n\r\nI was really well positioned early in the week - USD long with most of my LIVE trades ready for lift off. Then we had a day of three back-to-back squeezes focusing on different pairs / areas at a time. I tried to keep myself active in the trades but eventually gave in and it became a day of managing losses from my perspective.\r\n\r\nWhat a dreadful start to the month. I will have to focus and work hard, back to basics to return into positive numbers again. The great news is that with Forex Trading, there is a market everyday. As I mentioned to one of my UK subscribers last week, that usually after NFP it’s best to be light on trading until the Tuesday following a NFP data release. This is what I will do, for PREMIUM SERVICE subscribers I will run through my thoughts now that the USD is breaking out above the 61.8% retracement level and heading higher (more of this later).\r\n\r\nDuring last week apart from the “Squeeze Day” we had some key data and news releases:-\r\n<ul>\r\n	<li>Despite weaker ISM numbers and ADP numbers missing we had blow out NFP data. This has placed the DXY above key resistance and the USD back into strength mode.</li>\r\n	<li>UK all PMI’s beat (Which made the GBP very bullish).</li>\r\n	<li>The RBA cut interest rates.</li>\r\n	<li>RBNZ Governor Wheeler was about as useful as a chocolate teapot in talking down the NZD/USD.</li>\r\n	<li>CAD jobs numbers were good.</li>\r\n</ul>\r\nThe “squeeze” took the joy of the week away from my own perspective as far as I was concerned, but we are set up now for what could be a week or two of some nice directional trading. If it happens it will give me a Cheshire cat grin from ear to ear.\r\n\r\nLooking forward, the pick of the news events for me this week are: -\r\n\r\nRBA - Governor Glenn Stevens speaking twice.\r\nAUD - Employment Data (watch the part-timers they screw with the numbers).\r\nGBP – Bank of England Inflation Report (“Jackanory” time for Carney).\r\nUSD – Core Retail Sales.\r\n\r\nAs I have mentioned several times to my subscribers this past week, its how you bounce back that sets you aside from the crowd. I know lots of retail traders were hit bad on both the “SNB day and Squeeze Day”. I hope for all of us that the next two weeks will deliver directional trading as I think.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>THE MERRY-GO-ROUND CONTINUES…OR DOES IT?</strong><strong> </strong></p>\r\nTo say that Forex Trading is like riding a roller coaster after consuming a full IRISH ALL DAY BREAKFAST is pretty accurate in my eyes. At times you feel like you are going to puke your guts up and at others the thrill of trying to keep it down because the ride is so good is exhilarating.\r\n\r\nAs traders we have suffered through SNB Day, the ECB QE and most recently the mother of all short squeezes…it is one could say a merry-go-round or roller coaster ride.\r\n\r\nIs it fun…you be the judge?\r\n\r\nFrom reading on twitter to watching on TV, all you hear is Forex Trainers telling you how much they love volatility. This is bulls*it…they do not trade, they have zero skin in the market. All they do is spout what sounds cool, what they think we, as traders love to hear.\r\n\r\nI like DIRECTIONAL TRADING, nothing more nothing less. It’s the business, it’s the best type of trading, for me it’s great, I love it, give me more of it. Never in a million years could I ever believe I would get sick of, or in any way over-supplied with DIRECTIONAL TRADING.\r\n\r\nUnfortunately, we do not get enough DIRECTIONAL TRADING…. We get bloody “chop-fest” after “chop-fest” followed by a washout squeeze for good measure, it’s like playing ball with an over exuberant Labrador dog and getting head butted by the dog in the samosas (balls) … it hurts but you just get on with it.\r\n\r\nThis to me is Forex Trading; you get kicked in the boll***s over and over again and like laboratory rats on a food experiment you just keep coming back for more.\r\n\r\nMoving on from the pleasantries;\r\n\r\nThe USD INDEX (DXY) 240-minute chart below shows that last Friday after the release of the U.S. Non-Farm payroll numbers we broke out of the bull flag pattern. The measured move is to about 101.00. If this measured move happens and it will NOT be in a straight line there should be some big Forex moves in the pipeline.\r\n\r\nSo does the merry-go-round continue?\r\n\r\nI think that it all depends on the open tonight thru Monday’s sessions in Europe and North America. If the DXY continues to hold above the trend line I believe yes the merry-go-round is over for a while.\r\n\r\nWhat would I like to see happen?\r\n\r\nTomorrow at some time I would like to see the trend line break re-tested and a bounce take place back in the direction of 101.00. If this happens… happy days, I hope!!\r\n\r\nSo what currency pairs will I be focused on and to what levels?\r\n<ol>\r\n	<li>EUR/USD: - A move higher with the DXY, should see the EUR/USD fall. Assuming that the DXY takes on the measured move to 101.00, in my eyes this targets the EUR/USD to 1.0750.\r\nNOTE: This directional move is supported by the divergent monetary policies of the FED and ECB. One hawkish and raising rates, the other dovish about to launch a full-on Quantitative Easing (QE) program.</li>\r\n</ol>\r\n<ol start=\"2\">\r\n	<li>EUR/GBP: - The DXY move should set this pair lower towards 72.40. With this pair I have to take into consideration the GBP/USD move. Should the EUR/USD really come under pressure the GBP/USD will fall in sympathy if for no other reason. I can’t see the BOE Governor Mark Carney getting his panties in a twist if cable weakens.\r\nNOTE: This direction is supported by ECB policy.</li>\r\n</ol>\r\n<ol start=\"3\">\r\n	<li>USD/JPY: - Even though I hate trading JPY pairs a move to re-test the highs of 121.84 looks to be in play with increasing USD strength. Ultimately, we could test as high as 125.00, who knows?NOTE: This directional move is supported by divergent central bank policies that are currently in play between the FED and BOJ.</li>\r\n</ol>\r\n<ol start=\"4\">\r\n	<li>AUD/USD: - This pair has held up really well all things considered and particularly given the fact that RBA cut rates last week and has become very dovish in outlook. The RBA monetary policy statement last week was not as dovish as I was expecting but there is no doubt that the RBA Governor Glenn Stevens wants to see the AUD/USD exchange rate around 0.7000. That is about 700 pips off present levels. The DXY at 101.00 would certainly achieve this goal in my opinion.\r\nNOTE: This directional move is supported by the central bank divergent monetary policies being different between the FED and RBA.</li>\r\n</ol>\r\n<ol start=\"5\">\r\n	<li>NZD/USD: - We have the most bizarre of all central bank governors in position at the RBNZ in the shape of Graeme Wheeler. He raises the central bank interest rates and then tries to talk down the exchange rate of the NZD/USD. He is a bit of a nightmare and has cost me thousands of pips and $$$ in the past 12 months. Having said that New Zealand Prime Minister John Key wants the NZD/USD exchange rate around 0.6500. Lets see if he can successfully pressure the independent RBNZ into action to achieve this level.\r\nNOTE: The RBNZ came out dovish two weeks ago and is on a divergent monetary policy to that of the Fed and in so being this way supports a move lower with this currency pair.</li>\r\n</ol>\r\n<ol start=\"6\">\r\n	<li>USD/CHF and EUR/CHF: - Now that “SNB day” is behind us, the SNB is no longer handcuffed on intervention. They have said albeit through unnamed individuals within the SNB that they would like to see the EUR/CHF around 1.1000 and given any USD strength the USD/CHF could head back to parity.</li>\r\n</ol>\r\n&nbsp;\r\n\r\nIf the merry-go-round stops we should have DIRECTIONAL TRADING of a sort, but as I said earlier do NOT expect a straight-line move. Announcements involving the FED will spur the move on and whatever you hear about the FED not raising rates, it will be complete crap in my opinion because if the FED does not deliver what it has promised the market, it will have huge credibility issues. That is the very last thing that Janet Yellen needs. There may be f**k ups on timings of rate hikes but rate hikes there will be.\r\n\r\nCertainly the trades and pairs listed above will be on my RADAR from Tuesday morning. The commodity currencies concern me a little at the moment because equities are not rolling over. If we see a pullback in U.S. equities then all is OK. Rate hikes from the FED will help.\r\n\r\nThe cross-rates are a different matter; certainly with a shift in RISK they become more and more attractive.\r\n\r\nThe first few days of this week will either confirm the USD move or not. Personally, I can’t wait to see what happens.\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong></span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was a bugger of a week. The “squeeze” really took my trades and accounts apart, thankfully I trade with stops and have a 3% limit in place to cope with market shenanigans. It still does not look pretty when you look at your broker account balance, although it could have been worse.\r\n\r\nThe PREMIUM SERVICE therefore shows a negative for the start of February. All loss trades were mainly due to the squeeze; I was positioned in line with Central Bank policy ready to make a killing on about 600-700 pips when it all went arse-ways. I took around 800 pips in losses instead.\r\n\r\nPersonally, I traded lightly after taking the above losses, as I believed that the markets would go sideways up until NFP.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\"><img class=\"aligncenter size-full wp-image-5254\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-08022015.png\" alt=\"PROFIT-LOSS RATIOS 08022015\" width=\"405\" height=\"587\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\"><img class=\"aligncenter size-full wp-image-5255\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-08022015.png\" alt=\"RISK-REWARD 08022015\" width=\"431\" height=\"548\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\"><img class=\"aligncenter size-full wp-image-5256\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS-1-08022015.png\" alt=\"PREM SERV PROFITS 1 08022015\" width=\"456\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\"><img class=\"aligncenter size-full wp-image-5257\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-08022015.png\" alt=\"PREM SERV PROFITS2 08022015\" width=\"459\" height=\"419\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.4 THE PREMIUM SERVICE – 2015 PROMOTION</span>\r\n\r\n<strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot Trading)</strong>\r\n\r\n<strong>FOR JANUARY and FEBRUARY 2015\r\n</strong><strong>ONLY\r\n</strong><strong>THE PREMIUM SERVICE\r\n</strong><strong>Offers a\r\n</strong><strong>“BONUS WEEKS”\r\n</strong><strong>LIMITED TIME PROMOTION:</strong>\r\n\r\nKeeping your PREMIUM SERVICE trades separate from your own trades can give you an instant direct performance comparison.\r\n\r\nIf 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.\r\n\r\nThis 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)\r\n\r\nThe 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.\r\n\r\nIf 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.\r\n\r\nConversely, if you intend to be a more active trader the CWMFX tight rate spreads will be of more interest.\r\n\r\nThe choice is yours.\r\n\r\nThis promotion with my associated trading partners will expire of Saturday 28th\r\n\r\nFebruary 2015…it is really very limited: -\r\n<ol>\r\n	<li>Subscribe to the PREMIUM SERVICE:</li>\r\n</ol>\r\nYou will need to go to the welcome page of my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nClick on the sign-up tab at the top of the page.\r\n\r\n2015 PREMIUM SERVICE SUBSCRIPTION RATES\r\n\r\n10 weeks = $200.00\r\n\r\n20 weeks = $350.00\r\n\r\n40 weeks = $500.00 (full year / annual subscription)\r\n\r\nNOTE: I limit my trading during periods of thin liquidity such as Christmas / New Year and Late July / August summer vacation times.\r\n\r\nHence, 40 weeks is equal to an annual subscription.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li>Open a LIVE account clicking on the “BANNER” of the broker of your choice on my website.</li>\r\n</ol>\r\nThis will enable you to achieve a trading bonus direct from AvaTrade or BLACKWELL GLOBAL or opt for the tight rate spreads from CWMFX.\r\n\r\nFor Blackwell Global advise me of what you are doing and I will guide you through the process.\r\n\r\nAll the banners are on the welcome page of my website\r\n\r\nwww.weeklyfxdrivethru.com\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li>PREMIUM SERVICE – BONUS WEEKS PROMOTION:</li>\r\n</ol>\r\nOnce the LIVE trading account is confirmed and funded, I will extended\r\n\r\nPREMIUM 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>: -\r\n\r\n10-week subscriptions will receive a bonus of 5 weeks (15 weeks total)\r\nYour subscription would be equivalent to $13.33 per week.\r\n\r\n20-week subscriptions will receive a bonus of 10 weeks (30 weeks total)\r\nYour subscription would be equivalent to $11.66 per week.\r\n\r\n40-week subscriptions will receive a bonus of 20 weeks (60 weeks total)\r\nYour subscription would be equivalent to $8.33 per week.\r\n\r\nThis 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.\r\n\r\nIt would hopefully be the start of a very profitable relationship together.\r\n<ol start=\"4\">\r\n	<li>PLEASE NOTE: - THE FOLLOWING CONDITIONS TO THE PROMOTION:</li>\r\n</ol>\r\nOnly broker accounts opened via the banner on my website www.weeklyfxdrivethru.com are accepted for the PREMIUM SERVICE BONUS WEEKS PROMOTION.\r\n\r\nFor the “BONUS WEEKS PROMOTION” in subscription weeks to the\r\n\r\nPREMIUM 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.\r\n\r\nThis 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\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n\r\n</span></strong>\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: AUD – RBA Governor Glenn Stevens speaks.\r\n\r\nMONDAY: AUD – NAB Business Confidence.\r\nMONDAY: CNY – CPi.\r\n\r\nTUESDAY: AUD – Employment Data.\r\n\r\nWEDNESDAY: GBP – BOE Inflation Report – BOE Governor Carney speaks.\r\nWEDNESDAY: USD – Core Retail Sales.\r\nWEDNESDAY: AUD – RBA Governor Glenn Stevens speaks again….\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: N/A.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nThere is not as much news on the agenda this week as last week. This does not mean that there will not be much activity however. Beware of the Greeks!! I am expecting EUROZONE news to build up again now that German Finance Minister Schaeuble has made the front pages in the German newspapers telling the Greeks where to get off in relation to debt forgiveness amongst other things.\r\n\r\nWhilst there will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n\r\n<strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong>\r\n\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 8th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\n\r\ndrivethru@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','THE MERRY-GO-ROUND CONTINUES…OR DOES IT?','','inherit','open','closed','','5290-revision-v1','','','2015-02-08 05:57:46','2015-02-08 10:57:46','',5290,'https://weeklyfxdrivethru.com/5290-revision-v1/',0,'revision','',0),(5314,1,'2015-02-15 06:34:20','2015-02-15 11:34:20','','HOW TO PLAN YOUR FOREX TRADE EXITS','','inherit','open','closed','','how-to-plan-your-forex-trade-exits','','','2015-02-15 07:28:26','2015-02-15 12:28:26','',2538,'https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/HOW-TO-PLAN-YOUR-FOREX-TRADE-EXITS.pdf',0,'attachment','application/pdf',0),(5315,1,'2015-02-15 06:50:34','2015-02-15 11:50:34','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #47</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EUROZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n<h3 style=\"text-align: center;\"><strong>HOW TO PLAN YOUR FOREX TRADE EXITS</strong></h3>\r\nTraders tend to focus a lot of their time and energy on their trade entries. In fact, if you browse through online communities and forums you will notice that the majority of trade discussions revolve around entries.\r\n\r\nWhile it is very important to know how and when to enter a trade, it is equally crucial to know when to exit. Most people have a detailed plan and set of rules on how to enter the market, but newbie traders often overlook the importance of having an exit strategy.\r\n\r\nHere are a few tips on how to develop your exit strategy.\r\n\r\n<strong><em>“Begin with the end in mind”</em></strong>\r\n\r\nEven before you enter a trade, you should already have your exit strategy laid out. Ask yourself the following questions:\r\n\r\n<strong> </strong>\r\n\r\n<strong>1.HOW MUCH ARE YOU WILLING TO RISK?</strong>\r\n\r\nRISK MANAGEMENT is one of the most important aspects of trading. To make money (and avoid losing money), you have to learn how to manage your risk. That’s how you separate traders from gamblers.\r\n\r\nYou should ALWAYS know how much of your account you are putting on the line. Make sure that you only risk an amount that you are comfortable with losing.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHERE WILL YOU CUT YOUR LOSSES?</strong></li>\r\n</ol>\r\nProper STOP LOSS PLACEMENT can make or break your trade, so it is something you should consider even before you jump into the market. Make sure you place your stop loss appropriately and give your trade enough room to breathe.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> WHAT EVENTS MAY INVALIDATE YOUR TRADE?</strong></li>\r\n</ol>\r\nTo say that the markets are unpredictable would be an understatement. Unforeseen events always pop up and they often spark a ton of volatility.\r\n\r\nHowever, there are events, which we already know about. Economic reports and speeches by key officials are usually scheduled ahead of time. Their outcomes tend to affect markets in the same way that unforeseen events do. So why not prepare for them?\r\n\r\nAlways know what the market consensus is and the kind of behavior and reaction you should anticipate. Make contingency plans for when an event comes out differently than expected. Most importantly, be prepared to make adjustments to your trade when necessary.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> HOW LONG DO YOU PLAN TO HOLD THE TRADE?</strong></li>\r\n</ol>\r\nFor the record, you don’t necessarily have to set a time limit for your trades. However, it is good to set expectations on how long you will keep a trade open.\r\n\r\nLong-term traders, for example may hold their trades for weeks, months or even years. Usually their trades depend more on fundamental factors that affect markets for longer periods of time. Being conscious of the time would help a swing or position trader keep track of market conditions.\r\n\r\nMeanwhile, short-term traders can benefit from this practice in helping them assess whether a trade idea is still valid or not. Perhaps the consolidation on a particular pair has been going on longer than expected and it may be better to just close your trade early.\r\n\r\nAs you can see, exiting a trade is just as important as pulling the trigger, so put the same amount of time analysis in it. Having a detailed exit strategy will not only keep you from making impulsive trading decisions and keep your emotions in check, but it can help you manage your risk and stay profitable in the long run\r\n\r\nAlways remember to being with the end in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\nThere are no live trades at the moment.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\"><img class=\"aligncenter size-full wp-image-5304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\" alt=\"TRADES ON RADAR 15022015\" width=\"721\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou will notice that the USD/CHF trade has its reference number removed. This is just to cover us against EUROZONE / GREECE risk before the market opens later tonight. As soon as I re-instate the trade I will advise.\r\n\r\nI am looking to enter the following (FUNDAMENTAL) trades GBP/CAD, GBP/AUD, GBP/NZD and GBP/CHF during the coming week, plus some others.\r\n\r\nAt the end of this written section I have added the relevant charts with my thoughts at this time contained on the actual charts. I have rough set-ups listed as well but these may change as the market unfolds next week.\r\n\r\nDuring the past 48 hours I have had a number of email chats and SKYPE conversations as well as brief Twitter exchanges, regarding the market direction. I hope that the “WHATS ON MY MIND” article in this post will give you the overview that you were looking for. I know it will replicate some of the conversations that I have had, but I think by having the time to explain in more detail in this blog it gives you more “flesh on the bone”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015.png\"><img class=\"aligncenter size-large wp-image-5313\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015-1024x402.png\" alt=\"GBPAUD 240M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015.png\"><img class=\"aligncenter size-large wp-image-5312\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015-1024x402.png\" alt=\"GBPCAD DAILY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015.png\"><img class=\"aligncenter size-large wp-image-5311\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015-1024x402.png\" alt=\"GBPCHF 60M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015.png\"><img class=\"aligncenter size-large wp-image-5310\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015-1024x402.png\" alt=\"GBPNZD MONTHLY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\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\nThis is the second week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\"><img class=\"aligncenter size-full wp-image-5303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\" alt=\"TRENDING PAIRS 15022015\" width=\"380\" height=\"326\" /></a>\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1382.</strong> This week’s close was about 100 pips higher than where we finished last week. I would say that this has surprised many analysts. I am still reading and listening to parity calls with the EUR/USD. I was once a believer of the EUR/USD heading this low, now I am not that confident. I think that the GREECE issue has moved the goalposts. The single currency without GREECE in my opinion may have a strengthening effect on the EUR/USD rather than the weakening effect that the ECB requires. The fact that GREECE is a small country is irrelevant as the level playing field will be no more if they exit and I can see referendums all over those countries who’s populations feel that austerity had done them little good. With this in mind, as I tweeted last week, the present EUROZONE issue is just as much, if not more about GERMANY than it is about GREECE, with some very anxious on-lookers; IRELAND, SPAIN, ITALY and PORTUGAL to name but four. With the GREEK issue front and centre I see support at 1.1250 and resistance at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5382</strong>. The cable is in break out territory mode. Above 1.5460, I see a move maybe as high as 1.5600 and then maybe 1.5750. The hawkish tone expressed by BOE Governor Carney when he presented the BOE Inflation Report last week has placed the UK in the same half of the central bank football pitch as the FED. Basically its these two versus the rest, with the RBNZ in the not quite sure department! Support is good at 1.5350 and then 1.500 with the next resistance sitting at 1.5500.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7746</strong>. Not much in the week on closing prices comparing last week with the week prior. Although in the past week the RBA has cut interest rates, delivered a speech stating that further cuts are not ruled out, and we had poor employment data as well. I think that this week was more about the FED and the DXY and it goes to show that world economic power lies with the Yellen and the FED policy, all other central banks are just there to make up the numbers. The RBA will be disappointed to see the AUD/USD above 0.7700. The range as I see it is from support at 0.7600 to resistance at 0.7850.\r\n\r\n<strong>NZD/USD: Closing Price 0.74389</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7310 to 0.7520.\r\n\r\n<strong>USD/CAD: Closing Price 1.2446.</strong> The “loonie” appears to be Oil proxy nowadays and I am not sure that the powers that be in Ottawa are liking it. The USD/CAD is moving in 150-200 pip chunks at a time on a daily basis up then down and then back up again. I am now staying clear until we see a direction with oil. The problem is of course that oil is so heavily speculated upon I doubt for the near future that we will see calm in the oil markets so I guess that volatility with the CAD related pairs will remain. I see the range being 1.2350 to 1.2700\r\n\r\n<strong>USD/CHF: Closing Price 0.9303</strong>. I am starting to get bullish on this pair and have a limit order in the ether to enter long on a small pullback from present levels. The range as I see it is 0.9180 to 0.9350.\r\n\r\n<strong>USD/JPY: Closing Price 118.59. </strong> I successfully traded the USD/JPY to the long side during the past week. I am still totally unsure though which direction this pair is headed. When I think that I have it sorted I take another look and I am doubtful once again. The range is 117.40 to 119.45.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','publish','open','closed','','fundamentally-spite-recent-moves-still-usd-bull','','','2015-02-15 06:50:34','2015-02-15 11:50:34','',0,'https://weeklyfxdrivethru.com/?post_type=member_posts&#038;p=5315',0,'member_posts','',0),(5316,1,'2015-02-15 06:47:38','2015-02-15 11:47:38','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #47</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EURZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n\r\n<em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em>\r\n\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n</span>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n<h3 style=\"text-align: center;\"><strong>HOW TO PLAN YOUR FOREX TRADE EXITS</strong></h3>\r\nTraders tend to focus a lot of their time and energy on their trade entries. In fact, if you browse through online communities and forums you will notice that the majority of trade discussions revolve around entries.\r\n\r\nWhile it is very important to know how and when to enter a trade, it is equally crucial to know when to exit. Most people have a detailed plan and set of rules on how to enter the market, but newbie traders often overlook the importance of having an exit strategy.\r\n\r\nHere are a few tips on how to develop your exit strategy.\r\n\r\n<strong><em>“Begin with the end in mind”</em></strong>\r\n\r\nEven before you enter a trade, you should already have your exit strategy laid out. Ask yourself the following questions:\r\n\r\n<strong> </strong>\r\n\r\n<strong>1.HOW MUCH ARE YOU WILLING TO RISK?</strong>\r\n\r\nRISK MANAGEMENT is one of the most important aspects of trading. To make money (and avoid losing money), you have to learn how to manage your risk. That’s how you separate traders from gamblers.\r\n\r\nYou should ALWAYS know how much of your account you are putting on the line. Make sure that you only risk an amount that you are comfortable with losing.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHERE WILL YOU CUT YOUR LOSSES?</strong></li>\r\n</ol>\r\nProper STOP LOSS PLACEMENT can make or break your trade, so it is something you should consider even before you jump into the market. Make sure you place your stop loss appropriately and give your trade enough room to breathe.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> WHAT EVENTS MAY INVALIDATE YOUR TRADE?</strong></li>\r\n</ol>\r\nTo say that the markets are unpredictable would be an understatement. Unforeseen events always pop up and they often spark a ton of volatility.\r\n\r\nHowever, there are events, which we already know about. Economic reports and speeches by key officials are usually scheduled ahead of time. Their outcomes tend to affect markets in the same way that unforeseen events do. So why not prepare for them?\r\n\r\nAlways know what the market consensus is and the kind of behavior and reaction you should anticipate. Make contingency plans for when an event comes out differently than expected. Most importantly, be prepared to make adjustments to your trade when necessary.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> HOW LONG DO YOU PLAN TO HOLD THE TRADE?</strong></li>\r\n</ol>\r\nFor the record, you don’t necessarily have to set a time limit for your trades. However, it is good to set expectations on how long you will keep a trade open.\r\n\r\nLong-term traders, for example may hold their trades for weeks, months or even years. Usually their trades depend more on fundamental factors that affect markets for longer periods of time. Being conscious of the time would help a swing or position trader keep track of market conditions.\r\n\r\nMeanwhile, short-term traders can benefit from this practice in helping them assess whether a trade idea is still valid or not. Perhaps the consolidation on a particular pair has been going on longer than expected and it may be better to just close your trade early.\r\n\r\nAs you can see, exiting a trade is just as important as pulling the trigger, so put the same amount of time analysis in it. Having a detailed exit strategy will not only keep you from making impulsive trading decisions and keep your emotions in check, but it can help you manage your risk and stay profitable in the long run\r\n\r\nAlways remember to being with the end in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\nThere are no live trades at the moment.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\"><img class=\"aligncenter size-full wp-image-5304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\" alt=\"TRADES ON RADAR 15022015\" width=\"721\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou will notice that the USD/CHF trade has its reference number removed. This is just to cover us against EUROZONE / GREECE risk before the market opens later tonight. As soon as I re-instate the trade I will advise.\r\n\r\nI am looking to enter the following (FUNDAMENTAL) trades GBP/CAD, GBP/AUD, GBP/NZD and GBP/CHF during the coming week, plus some others.\r\n\r\nAt the end of this written section I have added the relevant charts with my thoughts at this time contained on the actual charts. I have rough set-ups listed as well but these may change as the market unfolds next week.\r\n\r\nDuring the past 48 hours I have had a number of email chats and SKYPE conversations as well as brief Twitter exchanges, regarding the market direction. I hope that the “WHATS ON MY MIND” article in this post will give you the overview that you were looking for. I know it will replicate some of the conversations that I have had, but I think by having the time to explain in more detail in this blog it gives you more “flesh on the bone”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015.png\"><img class=\"aligncenter size-large wp-image-5313\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015-1024x402.png\" alt=\"GBPAUD 240M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015.png\"><img class=\"aligncenter size-large wp-image-5312\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015-1024x402.png\" alt=\"GBPCAD DAILY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015.png\"><img class=\"aligncenter size-large wp-image-5311\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015-1024x402.png\" alt=\"GBPCHF 60M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015.png\"><img class=\"aligncenter size-large wp-image-5310\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015-1024x402.png\" alt=\"GBPNZD MONTHLY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\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\nThis is the second week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\"><img class=\"aligncenter size-full wp-image-5303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\" alt=\"TRENDING PAIRS 15022015\" width=\"380\" height=\"326\" /></a>\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1382.</strong> This week’s close was about 100 pips higher than where we finished last week. I would say that this has surprised many analysts. I am still reading and listening to parity calls with the EUR/USD. I was once a believer of the EUR/USD heading this low, now I am not that confident. I think that the GREECE issue has moved the goalposts. The single currency without GREECE in my opinion may have a strengthening effect on the EUR/USD rather than the weakening effect that the ECB requires. The fact that GREECE is a small country is irrelevant as the level playing field will be no more if they exit and I can see referendums all over those countries who’s populations feel that austerity had done them little good. With this in mind, as I tweeted last week, the present EUROZONE issue is just as much, if not more about GERMANY than it is about GREECE, with some very anxious on-lookers; IRELAND, SPAIN, ITALY and PORTUGAL to name but four. With the GREEK issue front and centre I see support at 1.1250 and resistance at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5382</strong>. The cable is in break out territory mode. Above 1.5460, I see a move maybe as high as 1.5600 and then maybe 1.5750. The hawkish tone expressed by BOE Governor Carney when he presented the BOE Inflation Report last week has placed the UK in the same half of the central bank football pitch as the FED. Basically its these two versus the rest, with the RBNZ in the not quite sure department! Support is good at 1.5350 and then 1.500 with the next resistance sitting at 1.5500.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7746</strong>. Not much in the week on closing prices comparing last week with the week prior. Although in the past week the RBA has cut interest rates, delivered a speech stating that further cuts are not ruled out, and we had poor employment data as well. I think that this week was more about the FED and the DXY and it goes to show that world economic power lies with the Yellen and the FED policy, all other central banks are just there to make up the numbers. The RBA will be disappointed to see the AUD/USD above 0.7700. The range as I see it is from support at 0.7600 to resistance at 0.7850.\r\n\r\n<strong>NZD/USD: Closing Price 0.74389</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7310 to 0.7520.\r\n\r\n<strong>USD/CAD: Closing Price 1.2446.</strong> The “loonie” appears to be Oil proxy nowadays and I am not sure that the powers that be in Ottawa are liking it. The USD/CAD is moving in 150-200 pip chunks at a time on a daily basis up then down and then back up again. I am now staying clear until we see a direction with oil. The problem is of course that oil is so heavily speculated upon I doubt for the near future that we will see calm in the oil markets so I guess that volatility with the CAD related pairs will remain. I see the range being 1.2350 to 1.2700\r\n\r\n<strong>USD/CHF: Closing Price 0.9303</strong>. I am starting to get bullish on this pair and have a limit order in the ether to enter long on a small pullback from present levels. The range as I see it is 0.9180 to 0.9350.\r\n\r\n<strong>USD/JPY: Closing Price 118.59. </strong> I successfully traded the USD/JPY to the long side during the past week. I am still totally unsure though which direction this pair is headed. When I think that I have it sorted I take another look and I am doubtful once again. The range is 117.40 to 119.45.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5315-revision-v1','','','2015-02-15 06:47:38','2015-02-15 11:47:38','',5315,'https://weeklyfxdrivethru.com/5315-revision-v1/',0,'revision','',0),(5317,1,'2015-02-15 06:48:29','2015-02-15 11:48:29','<h3 style=\"text-align: center;\"><strong>THE PREMIUM SERVICE\r\n</strong><strong>(The Home of Single-Lot $$$$ Trading)</strong></h3>\r\n<strong>DATE: 15.02.2015\r\nREFERENCE: #47</strong>\r\n\r\n&nbsp;\r\n<ol>\r\n	<li><strong><span style=\"text-decoration: underline;\"> INTRODUCTION / LOOKING BACK OVER THE PAST WEEK:</span></strong></li>\r\n</ol>\r\nI feel the same as last week by saying “Thank God that last week is over”.\r\n\r\nAnother short squeeze on Thursday last week took away profits earned since the previous squeeze… annoying, painful, frustrating and basically a pain in the arse.\r\n\r\nI wrote to PREMIUM SERVICE subscribers the morning of the latest squeeze that I felt as if the U.S. Retail Sales numbers were going to disappoint and that we should be ready for a spike and then a pullback to the pre news levels. This basically happened and then we had a Greece rumour and oil… the rest is history. A nice commodity currency squeeze, at this point I exited EVERYTHING limit orders 100% flat. I spoke with a couple of subscribers who decided to sit through squeeze 1…. but most of them covered trades in squeeze 2. After the previous week, I just decided to exit 100%, using the often-quoted phrase of “Your first loss is your best loss”. One point I must make is that usually we have a single currency squeeze but the ascendancy of these total market squeezes scares me as the moves are unrelenting, wild, crazy, volatile and they are unforgiving wiping out both long and short traders. It certainly has been a wild ride trading Forex in 2015 so far, and, we are not even at the end of the first quarter.\r\n\r\nThe big news over the past week is the continuing “Mexican Stand-Off” between the New Greek government officials versus the EURZONE although you could be forgiven for believing that it is Greece versus Germany. This on-going battle over potential debt forgiveness has legs to run. The hospitality service industry is still on RED ALERT in Brussels as they are expecting more meetings. The local cheese mongers and wine boutiques are re-stocking in the full knowledge that the numbers of “Cheese &amp; Wine” hosted events by EUROZONE official’s sees no pullback. In fact, it is the only bloody growth business in Brussels apart from hookers for the MEP’s and EUROZONE officials to pass time with. It’s a tough job, but someone’s got to do it.\r\n\r\nAfter the EUROZONE matter, UKRAINE re-appeared in the news, even though it was always there just not really covered here in North America.\r\n\r\nFrom a Forex perspective the volatility in oil, which, I alluded to earlier, was a huge trading influence, in particular with the CAD, which, seems to be now treated as a proxy for oil.\r\n\r\nBOE Governor Carney, did what was predicted by being hawkish when presenting the quarterly Inflation report, which has created a GBP breakout. The PREMIUM SERVICE is positioned to take advantage of this… trades are in position as I have several limit orders in position to get back into LIVE trading again.\r\n\r\nThe Australian Jobs data last Wednesday were poor and although the AUD initially fell it has bounced back strongly on the back of the aforementioned squeeze and continued higher on the back of U.S. equities posting new highs. It is in fact from the lows post jobs data to highs today a move of 125 pips or so, which, does not sound much but we have a very dovish rate-cutting RBA in play. They will NOT be happy with levels above 0.7700.\r\n\r\nSo, the PREMIUM SERVICE enters next week a little over flat for the month and actually almost on target for 2015. I have LIMIT ORDERS in place plus a few trade ideas in my head that I need to confirm by chart analysis to hopefully capture some nice profitable trades once more. I am hoping that next week I can start off the blog with something other than “Doom and Gloom”.\r\n\r\nTime will tell.\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> WHAT’S ON MY MIND: -\r\nTHE FUNDAMENTAL TRADERS OVERVIEW:</span></strong></li>\r\n</ol>\r\n<p style=\"text-align: center;\"><strong>FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL</strong></p>\r\nLast week I talked about “Merry go-rounds” and “Roller Coasters” and to a large extent I think that we are still at Six Flags, Alton Towers or a Disney Theme Park.\r\n\r\nWhether we are near the end of the ride or about to go and line up again for another thrill-seeking adventure, I wish I knew.\r\n\r\nBut I do know that all markets are still over-stretched and valuations are also being stretched in equities. The constant desire for value in equities and the fact that markets all over the world are instantly accessible, coupled with money flows in or out of a country being instantaneous, means that GREED is driving the ever growing desire for an edge and this GREED is the key driver of increasing volatility. This volatility is best seen right now in Oil and Bonds and general Commodities. It is driving rumours and creating vacuums in flows and when added to the geopolitical events is it any wonder that we have FEAR and GREED dominating matters and for us Forex traders this creates squeezes driven by FEAR and GREED, which have been so volatile, long-lasting and complete washouts of both ends of the trading range suckering both long and short traders and cleaning them out.\r\n\r\nTo be a FOREX trading survivor of this is a credit to your disciplines: -\r\n<p style=\"text-align: center;\"><em>POSITION SIZING\r\n</em><em>RISK MANAGEMENT\r\n</em><em>PLANNING YOUR TRADES and TRADING YOUR PLAN\r\n</em><em>RISK ASSESSMENT</em></p>\r\nI have had six or seven different PREMIUM SERVICE subscribers telling me of their own experiences over the past few days and so far in 2015 overall, in addition, they have asked me about what are my thoughts for the coming weeks and months ahead.\r\n\r\nHave my FUNDAMENTAL views altered?\r\n\r\nThe obvious answer is that if I knew what was about to happen, I would not be writing this blog!\r\n\r\nI gave answers to my subscribers roughly as follows and being able to take time away from charts and price movements to explain in a little more detail is good karma.\r\n\r\nI am FUNDAMENTALLY long the USD for the following basic and straightforward reason: - CENTRAL BANK DIVERGENCES.\r\n\r\nPlus, like it or not when it all comes down to Central Bank policies, lets face it the FED is king. This year whether it be the right thing to do or not the FED is going to raise interest rates in the U.S. They simply CANNOT AFFORD not to, should they back track they will be fu**ed as the markets would never believe another word about their monetary policy statements ever again. It is that simple in my opinion.\r\n\r\nEven with the recent geopolitical data surrounding GREECE and UKRAINE, domestic life in the U.S. goes on and economic data worldwide continues to be released. Whether you believe the released data is another matter. The recent 35% error in employment data in 2014 recently corrected by the Canadian Government being a case in point. Markets move on the data and we have allowed Governments the luxury of corrections the following month. In my eyes this shows poor management and it gives ineffective politicians an excuse. Having said that did anyone in Ottawa get sacked for the unheard of amendment in Canadian data?\r\n<p style=\"text-align: center;\"><strong><em>Here was my tweet on January 29<sup>th</sup> 2015 from @pipaccumulator\r\nCANADA NEEDS ACCOUNTANTS:\r\n</em><em>Canadian labor market added +121.3K jobs in 2014, NOT +185.7K as originally estimated. That\'s a -34.7% revision!</em></strong></p>\r\nMoving back on track….\r\n\r\nThe FED and the BOE with “anyway the winds blow Carney” at the helm are in the raising interest rates camp… THE HAWKS.\r\n\r\nThe BOJ, ECB, RBA, BOC and SNB are on the other side… THE DOVES.\r\n\r\nThe RBNZ as far as I’m concerned, the jury is out… THE NOT QUITE SURE.\r\n\r\nI know that I am re-iterating content that I have used in a similar form before but it is still valid.\r\n\r\nThe markets are basically all about Commodities and Central Banks. It is this relationship that is crucial. Right now there is divergence, my lead indicators are screwed up: -\r\n<p style=\"text-align: center;\"><em>AUD/USD\r\nAUD/JPY\r\n</em><em>USD/CAD\r\n</em><em>GOLD\r\n</em><em>OIL\r\n</em><em>COPPER\r\n</em><em>USD/SEK</em></p>\r\nHowever, the Central Banks still have the power to move markets, some are temporary one is NOT. The FED is the king to direct and move markets domestically and more importantly internationally and therefore this is my overriding key driver for my belief that my FUNDAMENTAL view that I should be biased to being long the USD still holds strong in my decision making process.\r\n\r\nNow…\r\n\r\nNot everything is a straight-line movement; there is intra-day volatility that produces stair steps in the overall direction.\r\n\r\nThe USD index is banging its head on resistance once again looking possibly set to make a run at a triple digit handle. This is HUGE… I mean REALLY HUGE.\r\n\r\nBig support or resistance levels in whatever financial markets you look at create a period of consolidation prior to attempting a breakout or breakdown, thus we are in effect entering ranging markets. As a Forex trader that is what we have today. Just for good measure these extremes also cause the flush outs / squeezes as well, but as stated earlier these I believe are rooted in basic FEAR and GREED. As we all know the two key drivers of the Forex market are FEAR and GREED.\r\n\r\nThe question that I still cannot answer to my PREMIUM SERVICE subscribers that posed it, it for how long do we consolidate and range trade?\r\n\r\nThere are many traders out there having the time of their lives because they have the knack of range trading. I am fecking awful at range trading… I suck.\r\n\r\nAll that said what should one do?\r\n\r\nIn my opinion, I think it is just the core traits of a Forex trader that need to be re-visited and maybe slightly re-aligned for the time being.\r\n\r\nFirstly, manage POSITION SIZES a little below usual sizes. Remember longevity in trading can only be achieved through effective MONEY and RISK MANAGEMENT.\r\n\r\nSecondly, maybe reduce the number of active LIVE TRADES to allow you better management of trades in case you need to adjust.\r\n\r\nThirdly, protect profits earlier than maybe you would do. You can always use the “woulda coulda shoulda” retort to a bad trade, but you should never complain if you are banking $$$$. Isn’t this what trading is about?\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE PREMIUM SERVICE:\r\n</span></strong></li>\r\n</ol>\r\n<strong><span style=\"text-decoration: underline;\">SUMMARY OF PERFORMANCE:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">3.1 OVERVIEW:</span>\r\n\r\nFor 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.\r\n\r\n<span style=\"text-decoration: underline;\">3.2 PREMIUM SERVICE – SUBSCRIPTION COSTS:</span>\r\n\r\nFull details regarding the PREMIUM SERVICE can be found on my website <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nTHE 2015 SUBSCRIPTION BREAKDOWN IS AS FOLLOWS: -\r\n\r\n10 weeks - $200.00\r\n20 weeks - $350.00\r\n40 weeks - $500.00\r\n\r\n<span style=\"text-decoration: underline;\">3.3 TRADING REVIEW OF ACTIVITY and SUMMARY OF PERFORMANCE:</span>\r\n\r\nLast week was another bugger of a week. I gave back hard earned profits from losses on the previous weeks squeeze and a bit more with last Thursday’s action. Being positive my action to cut and level all trades when I did was the best decision looking at what has subsequently transpired.\r\n\r\nIn the past seven days there were some great pips earned on the commodity cross-rate pairs to bring my pip profits back in line but sadly as these trades are of a more volatile nature the $$$ value from these trades is not as high as USD major trades so $$$ wise my trading accounts are still behind objective. When you consider that after the squeeze two weeks ago and the SNB day added the PREMIUM SERVICE has had to recover over 1,200 pips. This has been done, now its down to some nice $$$ trades over the next two / three weeks.\r\n\r\nAs I have written before and there are articles inside the PREMIUM SERVICE website under the EDUCATION TAB titled TRADING ESSENTIALS, where you can find pieces that I have added about TRADING CONSISTENCIES.\r\n\r\nFor me it’s now all about still locating the high probability trades, identifying the places of interest for buyers and sellers, looking at Fibonacci levels, pivot points, SMA’s, “Bollinger’s” and horizontal support and resistances placing trades and sending alerts to subscribers so that we can all earn some $$$.\r\n\r\nIn the past week the ratio between profitable trades and loss making trades has not improved due to trades being cut short in the squeezes and my approach of taking losses just to exit the madness. This will improve as the year progresses as I believe that the methods used in the past to identify high probability trades has not left me, it has just been a series of market moving events outside of my control that has given me this blip. On a more positive point, with the pips total coming back it gives me a great base to work from moving forward.\r\n\r\nI should also mention that if you traded just single lot trades as per the PREMIUM SERVICE suggested trade set-ups your trading account would be positive. It is our desire (GREED), to make more $$$ that makes us trade multiple lots of different lot sizes that creates the difference in performance as some lower value lot trades may have the greatest pip gain and the higher value lot trades may have small losses. When you combine the two, you can have pips without $$$. I had this on one account I traded in 2014, by the year-end trades had balanced out and it made a return of 25%, which, is still considerably more than the bank or a typical stock market return\r\n\r\nAs I stated earlier it is not all “Doom and Gloom”, you must take a longer-term view of your trading activity.\r\n\r\nThe usual summary charts detailing the week and year to date performances, are below: -\r\n\r\n<span style=\"text-decoration: underline;\">3.3.1. – PREMIUM SERVICE PROFIT/LOSS RATIOS:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\"><img class=\"aligncenter size-full wp-image-5299\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PROFIT-LOSS-RATIOS-15022015.png\" alt=\"PROFIT-LOSS RATIOS 15022015\" width=\"401\" height=\"572\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">3.3.2. – PREMIUM SERVICE RISK/REWARD ANALYSIS:</span>\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\"><img class=\"aligncenter size-full wp-image-5300\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/RISK-REWARD-15022105.png\" alt=\"RISK-REWARD 15022105\" width=\"420\" height=\"534\" /></a>\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">3.3.3. – PREMIUM SERVICE OVERALL TRADE SUMMARY MONTH &amp; YTD:</span>\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\"><img class=\"aligncenter size-full wp-image-5301\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS1-15022015.png\" alt=\"PREM SERV PROFITS1 15022015\" width=\"452\" height=\"438\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\"><img class=\"aligncenter size-full wp-image-5302\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/PREM-SERV-PROFITS2-15022015.png\" alt=\"PREM SERV PROFITS2 15022015\" width=\"454\" height=\"428\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n<ol start=\"4\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> PREMIUM SERVICE SUBSCRIBER EXCLUSIVE CONTENT:</span></strong></li>\r\n</ol>\r\n(Section 4 is exclusive PREMIUM SERVICE content only available to PREMIUM SERVICE subscribers)\r\n\r\n<span style=\"text-decoration: underline;\">4.1 EDUCATION:\r\n</span>\r\n<h3 style=\"text-align: center;\"><strong>HOW TO PLAN YOUR FOREX TRADE EXITS</strong></h3>\r\nTraders tend to focus a lot of their time and energy on their trade entries. In fact, if you browse through online communities and forums you will notice that the majority of trade discussions revolve around entries.\r\n\r\nWhile it is very important to know how and when to enter a trade, it is equally crucial to know when to exit. Most people have a detailed plan and set of rules on how to enter the market, but newbie traders often overlook the importance of having an exit strategy.\r\n\r\nHere are a few tips on how to develop your exit strategy.\r\n\r\n<strong><em>“Begin with the end in mind”</em></strong>\r\n\r\nEven before you enter a trade, you should already have your exit strategy laid out. Ask yourself the following questions:\r\n\r\n<strong> </strong>\r\n\r\n<strong>1.HOW MUCH ARE YOU WILLING TO RISK?</strong>\r\n\r\nRISK MANAGEMENT is one of the most important aspects of trading. To make money (and avoid losing money), you have to learn how to manage your risk. That’s how you separate traders from gamblers.\r\n\r\nYou should ALWAYS know how much of your account you are putting on the line. Make sure that you only risk an amount that you are comfortable with losing.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"2\">\r\n	<li><strong> WHERE WILL YOU CUT YOUR LOSSES?</strong></li>\r\n</ol>\r\nProper STOP LOSS PLACEMENT can make or break your trade, so it is something you should consider even before you jump into the market. Make sure you place your stop loss appropriately and give your trade enough room to breathe.<strong> </strong>\r\n\r\n&nbsp;\r\n<ol start=\"3\">\r\n	<li><strong> WHAT EVENTS MAY INVALIDATE YOUR TRADE?</strong></li>\r\n</ol>\r\nTo say that the markets are unpredictable would be an understatement. Unforeseen events always pop up and they often spark a ton of volatility.\r\n\r\nHowever, there are events, which we already know about. Economic reports and speeches by key officials are usually scheduled ahead of time. Their outcomes tend to affect markets in the same way that unforeseen events do. So why not prepare for them?\r\n\r\nAlways know what the market consensus is and the kind of behavior and reaction you should anticipate. Make contingency plans for when an event comes out differently than expected. Most importantly, be prepared to make adjustments to your trade when necessary.\r\n\r\n<strong> </strong>\r\n<ol start=\"4\">\r\n	<li><strong> HOW LONG DO YOU PLAN TO HOLD THE TRADE?</strong></li>\r\n</ol>\r\nFor the record, you don’t necessarily have to set a time limit for your trades. However, it is good to set expectations on how long you will keep a trade open.\r\n\r\nLong-term traders, for example may hold their trades for weeks, months or even years. Usually their trades depend more on fundamental factors that affect markets for longer periods of time. Being conscious of the time would help a swing or position trader keep track of market conditions.\r\n\r\nMeanwhile, short-term traders can benefit from this practice in helping them assess whether a trade idea is still valid or not. Perhaps the consolidation on a particular pair has been going on longer than expected and it may be better to just close your trade early.\r\n\r\nAs you can see, exiting a trade is just as important as pulling the trigger, so put the same amount of time analysis in it. Having a detailed exit strategy will not only keep you from making impulsive trading decisions and keep your emotions in check, but it can help you manage your risk and stay profitable in the long run\r\n\r\nAlways remember to being with the end in mind.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.2 THE PREMIUM SERVICE - EXISTING LIVE TRADES:</span>\r\n\r\nThere are no live trades at the moment.\r\n\r\n<span style=\"text-decoration: underline;\">4.3 THE PREMIUM SERVICE - TRADES THAT ARE ON MY RADAR:</span>\r\n\r\nBelow you will find an excel spreadsheet covering the trades that are currently on my RADAR.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\"><img class=\"aligncenter size-full wp-image-5304\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRADES-ON-RADAR-15022015.png\" alt=\"TRADES ON RADAR 15022015\" width=\"721\" height=\"427\" /></a>\r\n\r\n&nbsp;\r\n\r\nYou will notice that the USD/CHF trade has its reference number removed. This is just to cover us against EUROZONE / GREECE risk before the market opens later tonight. As soon as I re-instate the trade I will advise.\r\n\r\nI am looking to enter the following (FUNDAMENTAL) trades GBP/CAD, GBP/AUD, GBP/NZD and GBP/CHF during the coming week, plus some others.\r\n\r\nAt the end of this written section I have added the relevant charts with my thoughts at this time contained on the actual charts. I have rough set-ups listed as well but these may change as the market unfolds next week.\r\n\r\nDuring the past 48 hours I have had a number of email chats and SKYPE conversations as well as brief Twitter exchanges, regarding the market direction. I hope that the “WHATS ON MY MIND” article in this post will give you the overview that you were looking for. I know it will replicate some of the conversations that I have had, but I think by having the time to explain in more detail in this blog it gives you more “flesh on the bone”.\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015.png\"><img class=\"aligncenter size-large wp-image-5313\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPAUD-240M-13022015-1024x402.png\" alt=\"GBPAUD 240M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015.png\"><img class=\"aligncenter size-large wp-image-5312\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCAD-DAILY-13022015-1024x402.png\" alt=\"GBPCAD DAILY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015.png\"><img class=\"aligncenter size-large wp-image-5311\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPCHF-60M-13022015-1024x402.png\" alt=\"GBPCHF 60M 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n&nbsp;\r\n\r\n&nbsp;\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015.png\"><img class=\"aligncenter size-large wp-image-5310\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/GBPNZD-MONTHLY-13022015-1024x402.png\" alt=\"GBPNZD MONTHLY 13022015\" width=\"1024\" height=\"402\" /></a>\r\n\r\n<span style=\"text-decoration: underline;\">PLEASE NOTE:</span>\r\n\r\nRemember position sizes with FUNDAMENTAL TRADES are much smaller than usual. It is only when we can add to positions that the fun begins. I am hoping that with the SSSP you will be able to load in all the future LIMIT ORDERS for these trades. All you have to do when the trades hopefully gain some traction is move your stops.\r\n\r\nThis is why I have a separate broker for FUNDAMENTAL trades. It keeps my categories separate and allows me to spread my cash RISK around a few different brokers.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.4 MAJOR TRADING PAIRS WITH LONGER-TERM TRENDS MATCHING:</span>\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\nThis is the second week with no real trending pairs to look at. Whether you find this data interesting or not, the mere fact that so few pairs are featured, you should note that we are at inflection points, when currencies may be changing direction. Alternatively, you may choose to dismiss this data as you feel that the numbers of squeezes have affected the directional trends and these indicators need a few more days to show the real trend again.\r\n\r\n<a href=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\"><img class=\"aligncenter size-full wp-image-5303\" src=\"https://weeklyfxdrivethru.com/wp-content/uploads/2015/02/TRENDING-PAIRS-15022015.png\" alt=\"TRENDING PAIRS 15022015\" width=\"380\" height=\"326\" /></a>\r\n\r\nMy view is weekly and monthly trends should NOT be changed by a squeeze… we should take note.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">4.5 THE KEY SUPPORT &amp; RESISTANCE LEVELS WITH THE USD MAJORS</span><strong><span style=\"text-decoration: underline;\">:\r\n</span></strong>(This content is now for PREMIUM SERVICE subscribers only, it allows me to refer to existing and future set-ups that form part of the PREMIUM SERVICE subscription)\r\n\r\n<strong>EUR/USD: Closing Price 1.1382.</strong> This week’s close was about 100 pips higher than where we finished last week. I would say that this has surprised many analysts. I am still reading and listening to parity calls with the EUR/USD. I was once a believer of the EUR/USD heading this low, now I am not that confident. I think that the GREECE issue has moved the goalposts. The single currency without GREECE in my opinion may have a strengthening effect on the EUR/USD rather than the weakening effect that the ECB requires. The fact that GREECE is a small country is irrelevant as the level playing field will be no more if they exit and I can see referendums all over those countries who’s populations feel that austerity had done them little good. With this in mind, as I tweeted last week, the present EUROZONE issue is just as much, if not more about GERMANY than it is about GREECE, with some very anxious on-lookers; IRELAND, SPAIN, ITALY and PORTUGAL to name but four. With the GREEK issue front and centre I see support at 1.1250 and resistance at 1.1530.\r\n\r\n<strong>GBP/USD: Closing Price 1.5382</strong>. The cable is in break out territory mode. Above 1.5460, I see a move maybe as high as 1.5600 and then maybe 1.5750. The hawkish tone expressed by BOE Governor Carney when he presented the BOE Inflation Report last week has placed the UK in the same half of the central bank football pitch as the FED. Basically its these two versus the rest, with the RBNZ in the not quite sure department! Support is good at 1.5350 and then 1.500 with the next resistance sitting at 1.5500.<strong> </strong>\r\n\r\n<strong>AUD/USD: Closing Price 0.7746</strong>. Not much in the week on closing prices comparing last week with the week prior. Although in the past week the RBA has cut interest rates, delivered a speech stating that further cuts are not ruled out, and we had poor employment data as well. I think that this week was more about the FED and the DXY and it goes to show that world economic power lies with the Yellen and the FED policy, all other central banks are just there to make up the numbers. The RBA will be disappointed to see the AUD/USD above 0.7700. The range as I see it is from support at 0.7600 to resistance at 0.7850.\r\n\r\n<strong>NZD/USD: Closing Price 0.74389</strong>. This pair is very annoying and I find it frustrating at times to trade. It is still range bound albeit that the range is now a little broader at 0.7310 to 0.7520.\r\n\r\n<strong>USD/CAD: Closing Price 1.2446.</strong> The “loonie” appears to be Oil proxy nowadays and I am not sure that the powers that be in Ottawa are liking it. The USD/CAD is moving in 150-200 pip chunks at a time on a daily basis up then down and then back up again. I am now staying clear until we see a direction with oil. The problem is of course that oil is so heavily speculated upon I doubt for the near future that we will see calm in the oil markets so I guess that volatility with the CAD related pairs will remain. I see the range being 1.2350 to 1.2700\r\n\r\n<strong>USD/CHF: Closing Price 0.9303</strong>. I am starting to get bullish on this pair and have a limit order in the ether to enter long on a small pullback from present levels. The range as I see it is 0.9180 to 0.9350.\r\n\r\n<strong>USD/JPY: Closing Price 118.59. </strong> I successfully traded the USD/JPY to the long side during the past week. I am still totally unsure though which direction this pair is headed. When I think that I have it sorted I take another look and I am doubtful once again. The range is 117.40 to 119.45.\r\n\r\n&nbsp;\r\n<ol start=\"5\">\r\n	<li><strong><span style=\"text-decoration: underline;\"> THE WEEK AHEAD: -\r\nWHAT AM I THINKING &amp; WHAT AM I LOOKING AT?</span></strong></li>\r\n</ol>\r\n<span style=\"text-decoration: underline;\">5.1 SUBSCRIBING TO THE “FREE VERSION” OF THE WEEKLY FX DRIVE THRU:</span>\r\n\r\nIf 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: -\r\n\r\nGo to my website: - <a href=\"http://www.weeklyfxdrivethru.com\">www.weeklyfxdrivethru.com</a>\r\n\r\nOn 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.\r\n\r\nI do NOT sell your email data to anyone…do not worry.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.2 MAJOR FOREX NEWS THIS WEEK THAT INTERESTS ME:</span>\r\nSUNDAY: NZD – Retail Sales.\r\n\r\nMONDAY: AUD – Monetary Policy Meeting Minutes.\r\nMONDAY: EUR – EUROGROUP meetings.\r\n\r\nTUESDAY: GBP - CPi.\r\nTUESDAY: EUR – German ZEW Economic Sentiment.\r\nTUESDAY: NZD – Dairy Auction Prices.\r\n\r\nWEDNESDAY: GBP – Employment Data.\r\nWEDNESDAY: USD – FOMC Meeting Minutes.\r\n\r\nTHURSDAY: N/A.\r\n\r\nFRIDAY: EUR – French and German Flash Manufacturing PMi.\r\nFRIDAY: GBP – Retail Sales.\r\nFRIDAY: CAD – Core Retail Sales.\r\n\r\n&nbsp;\r\n\r\n<span style=\"text-decoration: underline;\">5.3 FINAL THOUGHTS / CLOSING COMMENTS:</span>\r\n\r\nI think that GREECE and the EUROZONE will be the dominant news factors this coming week.\r\n\r\nAs I always say with all events EUROZONE watch out for the sound-bytes from the many politicians and hangers-on who just love their 30 seconds of fame.\r\n\r\nBe careful of Nowotny and Schaeuble, they are pains in the ass for liking the sounds of their own voices, even if what they say is utter boll**ks or bulls**t.\r\n\r\nThere will be trades to trade and there will be some great opportunities, please trade in line with your RISK MANAGEMENT parameters from your TRADING PLAN. If you do not have a TRADE PLAN, in my opinion, you should, as this will help you with consistency.\r\n<p style=\"text-align: center;\"><strong>Consistency = longevity in trading and that is a critical goal.\r\nIT IS THE KEY MEASUREMENT</strong></p>\r\nBefore 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.\r\n\r\nTake care.\r\n\r\nScott Pickering\r\nThe Pip Accumulator\r\nSunday February 15th 2015\r\n\r\nEMAIL / FOLLOW ME AT:\r\npremiumservice@weeklyfxdrivethru.com\r\nTwitter: @pipaccumulator\r\nTwitter: @ThePremService\r\n<span style=\"line-height: 1.5;\">Google+/scottpickering\r\n</span>Tumblr: thepipaccumulator\r\n\r\n&nbsp;\r\n\r\n<strong><span style=\"text-decoration: underline;\">DISCLAIMER &amp; OTHER DATA:</span></strong>\r\n\r\n<span style=\"text-decoration: underline;\">THIRD PARTY COMPANIES WITH BANNERS ON MY WEBSITE:</span>\r\n\r\nThere 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.\r\n\r\nUnlike 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.\r\n\r\nBy virtue of the fact, I work with these companies almost daily. I am more than confident to have them advertise on my website.\r\n\r\nAny 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.\r\n\r\n<span style=\"text-decoration: underline;\">TRADING &amp; PERFORMANCES DISCLAIMER:</span>\r\n\r\nFLASH, 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.','FUNDAMENTALLY, IN SPITE OF RECENT MOVES I AM STILL A USD BULL','','inherit','open','closed','','5315-revision-v1','','','2015-02-15 06:48:29','2015-02-15 11:48:29','',5315,'https://weeklyfxdrivethru.com/5315-revision-v1/',0,'revision','',0),