I will start as I started last month’s report on my February 2020 performance... well that was some month.
As far as records go for my subscription service, last month was my best single months performance ever. There are so many positives, but, at the same time there are a couple of negatives that I have to work on moving forward. Having said all of that, I am so grateful for the overall performance and end result.
In the past 30 days (or so now), we have witnessed the world come to a stop because of a pandemic. I have lost a few trading buddies to over-trading and on second level news heard of plenty more who were just over-exposed, despite ALL the warnings.
We are in the tight grip of Covid-19.
TV and other Media outlets, Bank Analysts, FX Webinar Hosts and TV hosts are all floundering as no one really has a handle on how long the pandemic will last, how many deaths will occur country by country and how all the medical equipment required will be in place in time. The G8 has struggled without exception.
In the GFC (2008) it was the Central Bankers, who were elevated to Rock Star levels almost overnight as they did what they do well... print money. If they couldn’t print enough, they just printed more and more larger denomination notes; 24 x 7 if required.
This time, they are doing the same, BUT... this is not a Financial crisis, this is an invisible bug, an invisible virus, that could not give a shit about the $, € or £. Kitchen sinks have been thrown at it, we have more liquidity than a Pepsi factory, yet its NOT always enough. More stimulus is planned. Who cares how much, Central Banks control the printing presses. Just look at the U.S.... USD$2.2Trillion...? why not USD$4.2 Trillion?
In fact, why not?
- Economics are fucked. Central Banks are now ignoring the basic economic principles.
- GDP means bugger all for 2020 when you think about it.
- A Worldwide Recession maybe a Worldwide Depression is ahead of us.
- Central Bank “Rock Stars” are replaced by Doctors talking about Science Models that predict death rates.
- Politicians in power are floundering. Those in opposition demand more... more of what? More of everything!
- People in the tens of thousands are dying because in 2020 we cannot treat effectively. We cannot even make dying people comfortable at their time of need because politicians continually cut back health program funding.
- The U.S. does NOT stand a chance. It only has private health based on ROI. Not enough beds, no matter what is done. National Health to the U.S. is seen as Socialist. The U.S. approach is 100% clear: Profits before people.
One thing that has really annoyed me this past week or so is…
My email inbox has been flooded with COVID-19 emails from all sorts of institutions advising me that they are doing everything to help their staff, customers and the general public at large vis-à-vis aid and protection.
Here is Canada with interest rates now at 0.25%.
What about Credit Card interest...? about 20% APR, yes there are some now at 13% APR.
Regardless... do you not think that at a time of National importance the high street banks should finally put their customers before profits for just once?
To have APR’s above 20%, even 24% when money costs are at zero is a criminal offence to most people, it is tantamount to many as being extortion. Yet the high street banks write emails about how concerned they are vis-à-vis Covid-19 for staff and customers.... bollocks. Actions speak louder words!
The hardest hit sections of the population are just getting whacked.
Canadian Banks are NOT like European Banks, they could not give a shit about you. They are basically nothing more than “FEE INCOME GENERATION UNITS”. The ultimate “Assassins of Hope” and they just love to make money out of personal hardship. A leopard never changes its spots, why would Banks change now? This requires a strong government to regulate, manage and control extortion.
Sadly in Canada, with the very Liberal approach to everything, this means that the Banks literally can get away with anything.
Got that off my chest; now let me get off my soapbox....
My Twitter, Facebook and other Social Media feeds are full of negative news, death and the Covid-19 pandemic latest totals!
I have written in the past about HEAD MANAGEMENT and how this is just as important as RISK and ACCOUNT MANAGEMENT when trading FX.
This is just a suggestion.
When we are exposed to all this negativity it affects our subconscious mind. If our subconscious mind is not addressed, we allow the continual barrage of negativity to affect our MINDSET.
Trading especially in a volatile, headline driven, lack of directional common sense with fundamentals thrown out of the window FX market is bad enough, but to trade with a partial negative MINDSET, an EMOTIONAL BIAS, is in my opinion a recipe for disaster medium to longer-term.
Read, watch or listen to some of the MINDSET Personal Development coaches out there. This will help and in addition limit yourself to 5 minutes of TV or radio news per day. Twitter is a nightmare. You have to limit its exposure the best that you can.
You must trade with a POSITIVE MINDSET. Trading Psychology, or as I call it HEAD MANAGEMENT is so underrated and mostly ignored. This is just ridiculous from my perspective.
80% of the rest of this blog is focused on the MARCH 2020 FX performance by the WEEKLY FX PREMIUM. I will drill down into specific areas of my performance and what I need to do to improve selected areas BUT make no mistake to be at 72.8% of my annual objective at the end of March is fantastic from my viewpoint.
This year I increased my annual objective from +10,000 pips to +15,200 pips (over 50% more) so to have +11,066 pips at the end of March, I am very grateful.
I do not for one minute believe that I could achieve over +40,000 pips this year, but I would like to push towards +20,000 pips, that would be awesome and a record for my subscription service by some way.
There has NEVER been a better time to join the WEEKLY FX PREMIUM list of subscribers. I have a SPRING promotion in place “TURN 3 into 6”, details are below and on my website homepage www.weeklyfxdrivethru.com
Over the next few sections of the FREE NEWSLETTER version, I look at the numbers. It is so easy to gloss over these and they certainly do NOT reflect the hours of screen time required to produce these numbers.
I really hope that all my readers are surviving in these ‘cutthroat”, “take no prisoners” markets. If you are able to keep your head above water, great job.
If not; maybe a small investment with THE WEEKLY FX PREMIUM may help.
It may: -
- Re-tune your thought process.
- I do NOT have all the answers, I do NOT claim to have them.
- What I do have is a trading discipline.
- I will sit out markets from time to time because one does NOT need to trade every day.
- If you do not understand the moves... don’t trade.
- I have faults... I am NOT perfect (Ask my wife).
- Whilst with me, just trade single lot trades via my trades and compare with your own.
- My consistency (assuming I maintain it!) may highlight something with your trading.
If any of the above resonates with you try a subscription. There is a great promotion in place, to try and see.
1. WEEKLY FX PREMIUM PERFORMANCE:
WEEKLY FX PREMIUM - PERFORMANCE OVERVIEW MARCH 2020:
1.1: THE PERFORMANCE STATSISTICS – MARCH 2020:
1.1.1: MY KEY TAKEAWAYS ON THE MONTHLY PERFORMANCE:
- +6166 pips in a month. A new record. To put into context this, represents over 60% of my target last year.
- Average pips per trade on completed trades = 61.05 (Objective 50.00).
- Ratio of positive to negative trades = 78% / 22% (Target is 80% / 20%).
SWING TRADES = 52% / 48%
BREXIT TRADES = 100% / 0%
INVESTOR TRADES = 83% / 17%
Swing trades suffered understandably, as inside high volatility FX moves, the stop loss levels were tighter on these trades and as a result stops were taken.
Brexit and Investor trades carry much wider stops and as result they are to a larger extent exempt from the “noise”.
- 101 completed trades higher than I would expect (64 last month by comparison) but indicative of the volatile markets that I was operating with.
36 x Swing Trades
35 x Brexit Trades
30 x Investor Trades
1.1.2: MY KEY TAKEAWAYS ON THE YEAR TO DATE PERFORMANCE:
- Total pips for the Year to Date now rest at +11,066, which represents almost 73% of my annual +15,200 pips target.
- Average pips per completed trade = 52.70 (Objective 50.00).
- Ratios of Positive to Negative Trades = 80% / 20% in line with objectives.
SWING TRADES = 61% / 39%
BREXIT TRADES = 100% / 0%
INVESTOR TRADES = 85% / 15%
Overall, it's a great performance and I cannot complain,
1.1.3: YEAR TO DATE FX PREMIUM PERFORMANCE BREAKDOWN:
Annual pip totals are broken down by TRADE STYLES.
SWING = 1,693 pips - Annual Objective = 3,900 pips = 43.4% so far.
BREXIT = 5,322 pips - Annual Objective = 4,200 pips = 126.7% achieved.
INVESTOR = 4,051 pips - Annual Objective = 7,100 pips = 57% so far.
TOTAL pips 2020 year to date = 11,066
Annual “Pip Target” = 15,200
% achieved = 72.8% of annual target achieved so far.
Just to note in comparison to 2019.
At this stage end of March 2019 pips total = 5,703 pips. I am 5,363 pips ahead of 2019 as at the end of March.
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 – PIP PROJECTION 2020:
1.8: SUBSCRIPTION OPTIONS:
SILVER: 3 months (10 weeks) = CAD450.00
GOLD: 6 months (20 weeks) = CAD$750.00
PLATINUM: 12 months (40 weeks) = CAD$1,250.00
(Platinum renewal = CAD$1,000.00)
If you are looking to support your 2020 trading activities, why not consider a 3 month (10 week) subscription to get you up and running, who knows you may decide to extend your subscription!
It is a low cost way to maybe “KICK START” 2020; a 3 months (10 weeks) subscription in CAD$450.00 equals approximately: -
CAD = CAD$450.00 (CAD$ 45 per week)
USD = USD$340.00 (USD$ 34 per week)
EUR = €310.00 (€ 31 per week)
GBP = £265.00 (£ 27 per week)
AUD = AUD$500.00 (AUD$ 50 per week)
NZD = NZD$520.00 (NZD$ 52 per week)
JPY = JPY 38,000.00 (JPY 3,800 per week)
CHF = CHF 340.00 (CHF 34 per week)
Go to my website www.weeklyfxdrivethru.com for 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.
1.9: SPRING 2020 SUBSCRIBER PROMOTION “TURN 3 into 6”
SECTIONS 2, 3, 4 and 5
WEEKLY FX PREMIUM SUBSCRIBERS ONLY:
2. MARCH 2020 - OVERVIEW:
3. POTENTIAL TRADES MOVING FORWARD THIS MONTH:
4. LONGER-TERM FUNDAMENTAL THOUGHTS & VIEWS:
5. MY CURRENCY PROJECTIONS 2020:
6. THE FINAL SHOT:
6.1: LOOKING AHEAD – THIS WEEK’S ECONOMIC DATA & MY THOUGHTS:
There are a lot of high-beta news and economic events due this week, not even counting the CORONAVIRUS. My question at the moment is will some of the economic data take a back seat due to the pandemic?
The two items below still have relevance in my eyes.
- AUD: RBA Interest Rate Statement:
The markets are expecting no change.
The RBA has 0.25% left and available. More stimulus can still be added, and the RBA could take rates to zero.
I still believe that Central Bank commentary is valuable. What Philip Lowe has to say is still valid even though we take more heed from the FED.
- USD: Weekly Unemployment Claims:
We have seen 3.2million claiming followed last week with 6.6 million, what will it be this week?
6.2. MY FINAL THOUGHTS:
Nothing more to add here, I have said enough except,
Always remember longevity in Forex trading can only be achieved through trading with good RISK and MONEY MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility.
Finally, Be GRATEFUL for your wins and COUNT THEM. Be positive, keep a POSITIVE MINDSET in play at all times, regardless of the market conditions.
The Pip Accumulator
BLOG VERSION: #363 FREE NEWSLETTER
DATE: 5th April 2020