I have spent so much time over the past 7-10 days planning ahead for 2021, it does seem rather weird going backwards to wrap up 2020.
I have communicated a little bit over the past few days with my FX PREMIUM subscribers whether they trade solo or within my trading groups about feeling like I limped over the line to end 2020. It was a really strange ending to what was a really great year for me. Throughout the year I had been indicating that the FX market had been really hard for SWING TRADERS and without doubt from my perspective the end of the year was just awful from a SWING perspective. Hence the reason I felt like I limped over the finish line!
Whilst ending 2020 with a negative month, I should of course look at the big picture; 2020 was a year in which I posted my strongest annual performance in pips since I launched my subscription service back in 2014. Last year 2019 was a record at +17,566, 2020 beat that +21.167 pips which represents 138% of my objective of +15,260 pips.
This month it’s all about the numbers, changes and updates for 2021 regarding the WEEKLY FX DRIVE THRU and WEEKLY FX PREMIUM, no trading views or thoughts, no market commentaries.
1. THE SOAPBOX:
Back on the weekend of January 9th / 10th 2021.
2. WEEKLY FX PREMIUM: DECEMBER 2020 PERFORMANCE:
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”.
2.1: THE MONTHLY & YEAR TO DATE OVERVIEW:
2.2: MONTHLY PERFORMANCE SUMMARY:
2.3: YEAR TO DATE PERFORMANCE SUMMARIES:
2.4: MY THOUGHTS ON THE MONTH and YEAR TO DATE:
As mentioned in my introduction this month, I limped out of 2020 with a loss-making month, in fact both November and December 2020 were losing months for me.
November, I could accept as I mentioned on ZOOM, it was a pure and simple RISK-ON / RISK-OFF set of trades vis-à-vis USD/CAD and USD/MXN that I had been on the wrong side of for a while.
December was a different kettle of fish entirely. I took pain across 3 of my BREXIT TRADES (GBP/AUD, GBP/CAD and GBP/NZD) as well as my position long with the GBP/USD. I took the pain of my loss a week too early, ahead of my stop loss levels, as the uncertainty of BREXIT was at its peak and it looked like a NO DEAL EXIT was on the cards. Looking back, I bullied myself out of the positions, my conviction to the trades waned.
Two poor months on the spin, snookered any chance I had of achieving my supplemental objectives of 50 pips per completed trade. This ended at 34.42. In addition, my winning / losing trade ratio objective of 80% / 20% also fell short at 78% / 22%.
However, my overall net pips total of +21,167 pips represented 138% beat of my 2020 target of +15,260 pips.... nice.
Despite booking losses in pips of 3,120 for November and December combined, I am still delighted with the overall 2020 return. It was a record; beating last year’s 2019 record of +17,566 pips by +3,601 pips.
All trades that I was involved in during December can be found on my website homepage under the HISTORY / PERFORMANCE TAB on the menu titled This Year’s Performance.
3. THE DRIVE THRU ZOOM:
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. Obviously, I would prefer if you subscribed to the FX PREMIUM and came on board for the FX journey of 2021 in its entirety. FX PREMIUM subscribers get so much more by way of content and do NOT forget they also get the opportunity to take profit winning trades as well.
Nevertheless, my “FREE stuff” will continue through 2021 and from a ZOOM MEETING perspective, I list the content comparisons of both ZOOM meetings below.
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$200.00 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)
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.
Subscription prices for 2021 are increasing in just a few days, in fact from Monday 4th January 2021, see the excel spreadsheet below: -
So if you want to beat prices you only have a couple of days from which you will need to make a decision, so, if you are procrastinator... now is the time to change if this is something you have been considering.
5: WEEKLY FX PREMIUM - TRADING IN 2021:
Apart from rises in FX PREMIUM subscription prices 2021 also brings with it several changes in communications, whether by the written word in this blog or via the spoken word with charts etc., via ZOOM.
I will also be adding a direct link on my website home page to my 2021 downloadable E BOOK and ZOOM version of the benefits of my trading approach via the WEEKLY FX PREMIUM.
I have already added the ZOOM meetings comparison above in section 3, below I add a general communications overview, together with my “pip” trading target for 2021.
Also, in 2021, my trading styles are being refined to reflect my thoughts on the current and future FX market.
In 2020, I traded MOMENTUM, SWING, FUNDAMEWNTAL, BREXIT and INVESTOR trades, some with greater success than others, I might add.
In 2021, I will be reverting back to core trading styles of FLASH, RADAR and POSITION (CORE POSITION) style trades. The trade parameters and definitions of how I propose to trade these styles are below.
FLASH TRADES (FLA):
TYPICAL FX PAIRS TRADED: No exceptions
TRADER SUTABILITY: Traders who are 100% close to their trading screens. Full-Time traders.
PROJECTED TRADE TIME-FRAME: Very short-term usually from 5 -30 minutes maximum.
ENTRY & EXIT GUIDELINES: Only via twitter @weeklyfxpremium (not advised by email). These are opportunist trades and cannot be predicted in most cases unless they are anticipated ahead of major news events.
RISK / POSITION SIZES: Single trades with trade sizes of 50%-100% of my RISK tolerance limit. Looking for gains of 30-50 pips based upon directional / momentum moves.
STOP LOSS LEVELS: These would usually be between 30-50 pips based off either previous levels of support and resistance or a close Fibonacci level. However, should the trade develop trend and momentum and maybe possibly have the opportunity to become a SWING TRADE, I would protect some profits and stretch my target price objective.
RADAR TRADES (RAD):
TYPICAL FX PAIRS TRADED: All pairs qualify; no exceptions
TRADER SUITABILITY: All Traders who have reasonable access to check screens on several occasions during the day. Entry and exit levels are pre-determined from limit order set ups.
PROJECTED TRADE TIME FRAME: Initially day trades that I am looking to develop in SWING trades of about a 4/5-day duration.
ENTRY & EXIT GUIDELINES: Entries will be by pre-defined LIMIT ORDER set ups. These are based initially on Pivot Points, Fibonacci Levels, Chart Patterns, basically, any combination of indicators that provide a “high probability’ trade set up. Initial STOPS and LIMITS will be fairly conservative, depending upon market conditions at the time the set-up is placed. In normal trading conditions, I would expect to update these to protect profits should the trade develop and gather traction.
RISK / POSITION SIZES: Usually a single trade approach. The initial trade set up size will be c.25% - 50%. If the trade develops, I will add a secondary position to bring the trade closer to full size.
STOP LOSS LEVELS: Usually based off areas of previous price confluence of key Fibonacci levels. I usually work through from the weekly chart down to the 2-hour chart to establish my key levels of entry and exit. Based upon a pip number to give guidance on the size of my stop loss levels, a rough rule of thumb would be c.100 - 150 pips, although this may vary by pair traded, time of trade placed and the pairs liquidity depth.
POSITION TRADES (POS) / CORE POSITION TRADES:
TYPICAL FX PAIRS TRADED: No exceptions, although the preference would be for pairs with decent liquidity.
TRADER SUTABILITY: These are my longer-term trades suitable for traders with limited “Trade Screen” access during the day. These trades would ideally suit PART-TIME traders, those looking to add an additional income stream to their household etc.
PROJECTED TRADE TIME-FRAME: Usually anything from at least 3 months to years in duration.
ENTRY & EXIT GUIDELINES: Entries are by pre-defined LIMIT ORDER set ups.
STOP LOSS LEVELS: These will be based on the Monthly Average True Range (ATR). On occasion, some trades will be based upon a 3 Month Average True Range (ATR) figure and this would be advised at the outset of the trade.
LIMIT LEVELS: These will be chosen by a combination of extreme Fibonacci levels, previous annual highs. If required, I will consider HEDGING to keep these CORE POSITION trades in play.
RISK / POSITION SIZES: Usually, a multi-trade approach with the initial trade sizes being between 10% -25%. It really depends on the currency pair and the trade opportunity itself.
POSITION trades are by nature taking a very long-term view. My POSITION TRADE style will have multiple “LIVE” positions and multiple “LIMIT ORDERS” pre-determined and ready to trigger.
6: MY FINAL THOUGHTS:
Many people cannot wait for 2020 to end and ring in 2021. By the time this blog is posted, for many, 2021 will already be in play.
To everyone whether an FX PREMIUM subscriber of FREE NEWSLEETTER subscriber, lets all hope that 2021 will be pandemic free as soon as possible...
The latest data supports Q3, which sound a long way away at the moment but as TRUMP would say “It is what it is” ....
To everyone, I either hope you had or hope that you will have a great New Year’s Eve and wish you all the very best for 2021.... Happy Trading to all.
Finally, as usual...
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: #394 FREE NEWSLETTER
DATE: 31st December 2020