In some ways I am grateful that the month end and the U.S. Presidential election clash as it allows me not to dwell too long on both subjects in this blog.
In line with my shift away on a gradual basis from writing blogs into a more audio / visual approach of “ZOOMING”, I will not be going into great detail in the blog on the performance last month, that will now be done via zoom. Just the basics will remain in the blog and do NOT forget on my homepage at https://www.weeklyfxdrivethru.com under the “History / Performance” tab selecting “This Years Performance” will give you access to view everything related to the previous months trading via THE WEEKLY FX PREMIUM.
The way that I am now approaching the “month end” blogs should therefore meet with the requirements of my subscribers, full disclosure, greater insight and a little more brevity in the written word.
Before, climbing up on my soapbox about the U.S. election, I just cannot go further without referring to the SUMMER PROMOTION from last August, “THE DOUBLE UP – EXTRA” that I launched this promotion having “savaged” my 2020 pip target already. If you recall at the beginning of August, I was already ahead of my 2020 objective of +16,250 net pips, the total at the beginning of August was +16,925 pips.
I added a fresh September 1st – December 31st objective of +3.940 pips (see below).
Below is the summary of the October 2020 performance split by trade style.
- This shows a total of +2,515 net pips gained.
- What I want to highlight is that my pip goal of +3,940 pips has been smashed by 166% as my total pips for September and October already total +6,537 pips.
- Those who subscribed and took advantage of the promotion who trade based on a USD$1.00 single mini lot trading strategy are now enjoying FREE from subscription and trade costs trading through to August 31st, 2022.
- I think you call this a “great Call” if you took advantage of the Promotion.
PLEASE NOTE: This blog was written Saturday morning 31st October, 2020, ahead of the U.S. Presidential Election news surrounding multiple election lawsuits ahead of the November 3rd, 2020 vote and also ahead of the UK Government decision to lockdown on November 5th,2020 due to the Coronavirus pandemic.
1. THE SOAPBOX:
USD TURBULENCE AHEAD
Finally, it seems like the U.S. campaign has been in play for a year or so... hang on... it has! To say I am exhausted from the news flow regarding this election would be the biggest understatement ever. Living in Canada has a lot more benefits than negatives but, without doubt the biggest negative is Canada’s geography, being next to the U.S.
The news bias, the drivel, the lies, the never ending bullshit about this election and the fact it is happening at the same time the global pandemic, which is simply ignored by the encumbered president, only feeds a continual barrage of negativity every time the TV or for that matter any media is viewed.
This culminated yesterday with TRUMP JNR. on Fox news claiming that the number of virus cases in the U.S. were nothing and that the pandemic was behind the U.S. This was the TRUMP view the day that the U.S. reported a record 89,223 cases in a single day. FFS, you just cannot make this stuff up.
It is so difficult when viewing the U.S. shenanigans from across the border to say this has to be nothing but a resounding BIDEN victory. TRUMP lies every time he opens his mouth and for four years America has lost its position as a leader in the world and has become for the most part a laughingstock in Foreign affairs.
Looking at the options for the American voter, BIDEN has policies to consider, yet TRUMP has none apart from rhetoric about himself. In fact, his big claim is that his approach on tariffs, which he says were 100% successful affect CHINA more so than the buyer of goods in the U.S. it’s pure nonsense.
Yet, there is a chance that we could see a contested result. Why?
Apart from the fanatics who attend the rallies, there is a huge cluster of “DENIAL” voters. There are thousands who will tell you TRUMP is a wanker and that they have a brain and would NEVER in a month of Sunday’s vote for him. Yet, in a confine of the voting booth with no-one looking over their shoulder they “X” the box for TRUMP. Why?
It can’t be truth or honesty in the job. TRUMP has created an army of fact checkers who are fully employed every time he opens his mouth.
These secret voters for TRUMP say more about America and why it is where it is today on the world stage. Remember TRUMP lost the popular vote by 2% against HILLARY CLINTON in 2016 but got through on the Electoral College vote of passing the 270 votes required.
The polls at the moment show BIDEN with a healthy lead in most states but there are several marginal calls and a late swing to TRUMP so of what happened in 2016, could once again be on the cards. Admittedly back in 2016 he was just 5/6 points behind, this time around he is closer to 10 points adrift of BIDEN, but it is still possible to force a close result based upon the Electoral College scenario.
Do I think it could happen?
Look; I thought no-one could be stupid enough to vote for him again given the complete fuck up he has made over the Covid-19 response. He has blood on his hands, and with the simple fact that he has shown no desire to lead, in fact he has 100% failed as a leader and has repeatedly shown that he is so thin-skinned, everything is about him NOT the people he is supposed to be leading, based on the oath he took is a complete dereliction of duty. Covid-19 is the worst health crisis in decades and TRUMP leadership will be a sorry passage in American history.
Therefore, yes there are Americans out there like TRUMP who basically could not give a shit, they are so partisan, they will turn a blind eye to everything that has gone on in the past 4 years. The Republican Party never offers up anything to dampen the spread of lies that emanates from TRUMPS tweets and speeches. When it is said this is the most important vote in recent times, it probably really is such a vote.
I believe the USD could be in for a “Rocky, Volatile, Turbulent” few days at the votes cast are counted. Over 61 million Americans have already cast their ballots.
USD TURBULENCE AHEAD, I think that this is on the cards if the polls show a late TRUMP swing and do NOT forget the secret voters there are hundreds of thousands of them.
So, how am I trading, how am I set up?
Firstly, there are a few fundamentals that accompany the election result that will need to be considered as well, although, do not get me wrong the outcome of the vote will be the key driver for at least 24/48 hours following the result.
- Based on the fact regardless of the outcome TRUMP will NOT go quietly, the DXY will be volatile.
- There will potentially be legal battles in many U.S. states of legalities surrounding the count, the validity of postal ballots etc.
- Do NOT forget wild swings in EUR/USD should be largely contained given the state of the EUROPEAN economies due to the Covid-19 pandemic, lockdowns, curfews etc.
- OIL is going to be under pressure and will affect the USD because of economic slowdowns.
At the end of the day, I am set up RISK OFF. I am NOT fully loaded on trades, but my BIAS is RISK OFF. This CORE POSITION BIAS has been held for some time now and frankly whilst I am expecting huge swings in price, I feel that most attention will be JPY based and I do NOT have JPY exposure.
If you remember back in 2106 on the TRUMP victory the USD/JPY dropped to about 101.00 on the victory declaration but it then swung higher to 118.00 in the coming weeks.
Using a big picture overview, the USD actually strengthened quite a bit with the EUR/USD moving lower to 1.0500. then 1.0350. The ECB would NOT complain if history repeated itself.
There are talks of BLUE WAVES in which scenarios of huge infrastructure programs are planned which would according to the coneheads mean the USD would be decimated over coming months with inflation starting to ramp up. This could well be true BUT, we need to see the result and who controls Capitol Hill first.
All I can say is be careful. I expect the unexpected with TRUMP, do not get too heavy in any trades you take. I expect volatility with the USD with a rather turbulent couple of days at least.
Finally, let’s hope by this time next week, we at least know if its BIDEN in the White House or if it’s going to be another four years of TRUMP a result would be good, then at least we can finally plan ahead.
2. WEEKLY FX PREMIUM: OCTOBER 2020 PERFORMANCE:
Unlike previous months, this section of the blog will show just the overview spreadsheets / charts that give the previous months trading overview.
The complete set of spreadsheets can be found on my homepage at https://www.weeklyfxdrivethru.com under the “History / Performance” tab, sub section “This Year’s Performance”.
My overview and commentary on the previous month’s performance can be found on this weekend’s DRIVE THRU ZOOM.
2.1: THE MONTHLY & YEAR TO DATE OVERVIEW:
2.2: MONTHLY PERFORMANCE SUMMARY:
2.3: YEAR TO DATE PERFORMANCE SUMMARIES:
3. THE DRIVE THRU ZOOM:
During my summer break earlier in the year, I decided to make one or two structural changes to my delivery options of my supporting material.
I decided to start THE DRIVE THRU ZOOM, which would replace about 50% of the content previously contained in written format inside this blog. I decided to do this “With a Twist”, by only distributing THE DRIVE THRU ZOOM to subscribers of this blog.
Below, I list the content comparisons of both ZOOM meetings.
As already mentioned, to receive THE DRIVE THRU ZOOM you must be a subscriber to this blog. To do this visit my website https://www.weeklyfxdrivethru.com click on the subscribe TAB at the top of my landing page.
For those of you who pick up the COFFEE SHOP / CHIRINGUITO version of this blog, if you want THE DRIVE THRU ZOOM, you will need to subscribe to this blog as obviously, only the shortened written version will be produced and that version in the future will represent the COFFEE SHOP / CHIRINGUITO version from next weekend.
4. WEEKLY FX PREMIUM SUBSCRIPTION INFORMATION:
Basically, my website landing page has all the information that You would need to make a qualified decision about whether or not the WEEKLY FX PREMIUM would be a good fit for you or not. Below I have a snapshot of some data that you may find useful.
4.1: SUBSCRIPTION OPTIONS:
MONTHLY ROLLOVER: CAD$10.00 for the first 10 days, then CAD$20.00 per month thereafter until cancelled by the subscriber.
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.
4.2: FUTURE SUBSCRIPTION COSTS:
Just a note to advise anyone considering a subscription that my subscription option prices will be increasing at the conclusion of 2020 trading and will be in place before 2021 trading starts.
4.3: THE WEEKLY FX PREMIUM – BENEFITS OF SUBSCRIBING:
4.4: WEEKLY FX PREMIUM - THE TRADING HISTORY:
5: MY FINAL THOUGHTS:
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: #387 FREE NEWSLETTER
DATE: 1st November 2020