I am now on my summer break from writing weekly blogs. I am still trading albeit at a reduced level.
I wrote in my final “DRIVE THRU” blog prior to my break that whilst I was looking forward to a summer break it wasn’t clear just how much time off, I would actually have, given all the geopolitical situations in play.... plus, TRUMP!
Nevertheless, onwards I go into the summer with fingers crossed hoping for the usual summer trading doldrums to return to allow me to recharge my batteries for trading the final months of Q3 and Q4 into the year end.
It may sound crazy to be looking for “trading doldrums”, but I firmly believe as traders we need some down time to enable a “mind battery” recharge.
1. WEEKLY FX PREMIUM PERFORMANCE: JULY 2019:
THE WEEKLY FX PREMIUM - PERFORMANCE OVERVIEW JULY 2019:
July was a weird month for me.
We seem in FX to be trading from “high beta” event to “high beta” event. July was dominated by eagerly awaited ECB and FED interest rate decisions and press conferences.
My pips return in the month was therefore above my expectations, given the way the month was set out from an economic news flow perspective.
- 990 pips in the month.
Year to Date total is now at 9,636 = 96% of my annual objective.
- Average pips per trade continues to be an issue. As mentioned last month I am not expecting a move upwards until we are out of the summer trading cycle, for the very simple reason one cannot expect as much from trades and moves in the summer. Being a longer-term trader, the number of trades closing during the summer when added to my cutback in activity means there are very limited opportunities to improve the averages.
- In July the result was 27.50 pips per completed trade, which reflected a marginal uptick from June 2019.
Year to Date this now sits at 36.36. My goal is 50.00.
- My profit / loss trading relationship ratios were 72% positive trades and 28% loss making trades in June. A little below the 80% / 20% target.
Year to Date it stands at 80% / 20%, in line with my the 80% / 20% target.
Overall the “Pips per Trade” target is the only objective which I am struggling with, but I do have a very clear understanding why this is lagging.
I am very pleased and positive overall this year so far.
As with anything in life it is important to count the wins!
1.1: THE PERFORMANCE STATSISTICS – JULY 2019:
1.2: MONTHLY PERFORMANCE SUMMARIES:
1.3: THE TRADES:
1.5: WEEKLY FX PREMIUM - THE TRADING HISTORY:
1.6: THE WEEKLY FX PREMIUM – BENEFITS OF SUBSCRIBING:
1.7: WEEKLY FX PREMIUM SUMMER PROMOTION 2019:
1.8: SUBSCRIPTION OPTIONS:
SILVER: 3 months (10 weeks) = CAD350.00
GOLD: 6 months (20 weeks) = CAD$600.00
PLATINUM: 12 months (40 weeks) = CAD$900.00
(Platinum renewal = CAD$750.00)
Go to my website www.weeklyfxdrivethru.comfor more details of all the subscription options under the “SUBSCRIBE TAB.
To subscribe to the WEEKLY FX PREMIUM, you will require a valid credit card.
SECTIONS 2, 3 and 4
WEEKLY FX PREMIUM SUBSCRIBERS ONLY:
2. JULY:TRADING REVIEW and OVERVIEW:
3. LOOKING AHEAD... WHAT TRADES ARE NEXT:
4. LONGER-TERM FUNDAMENTAL VIEWS:
Moving forward, I remain ultra-positive and very happy with my performance this year so far.
I am holding a little more RISK in certain areas than I would prefer, if I am 100% honest, but in true FED SPEAK... I believe this is transitory!
Not wanting to be a “Debbie Downer”, but for those of you who do not pullback or slowdown with your trading activity in the summer, I am not that confident that range bound markets will disappear. Usually the summer is slow as we see vacation time being taken by the higher profile traders. From now through to mid -September, the FX market operates on lower liquidity levels.
On a positive note, it could be different this year given all the geopolitical news hanging over the markets, and do not forget the TRUMP effect.
Overall and in summary looking towards the end of the year from now, I still feel that there is huge trading abundance in both pips and $$$ available during the remainder of this year. One just has to be careful and patient.
The Pip Accumulator
BLOG VERSION: #332 FREE NEWSLETTER
DATE: 1stAugust 2019