Weekly FX Drive-Thru

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WEEKLY FX PREMIUM PERFORMANCE – APRIL 2023

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Next weekend will see the restart of the WEEKLY FX DRIVE THRU, following my Easter break. I have yet to decide whether or not it will be a blog or zoom presentation. This weekend however, it’s a short blog basically to highlight the April 2023 performance.

Having taken the whole of April off and away from my usual daily routines this has been reflected across all of my performance parameters. The break was wonderful and just what I needed and having started reading through my inbox at a somewhat feverish pace over the past 48 hours, I think I picked a good time to be away from my charts on a minute-by-minute basis.

THE WEEKLY FX PREMIUM PERFORMANCE: APRIL 2023

I took some losses on AUD/JPY shorts as mt stops were taken. I had a few moments of should I review the trade again but, in the end, I decided to take my medicine.  This affected my monthly pip totals, I am usually comfortably above the net +1,000 pips per month so to end up with +844 pips for the month seems at first glance to be below par, but I was really just managing existing trades. That were in place as the month started. With this overview, I am therefore grateful to add pips in the month.

One significant change in the month was on a day that I was looking at charts I decided to add back FUNDAMENTAL TRADES to my operating trade styles. We are at such extremes with several pairs, especially CHF pairs that these are set up eventually for reverse trades and this is where FUNDAMENTAL trades operate, basically the area between POSITION and RADAR trades. Moving forward into 2024, I can see FLASH trades being dropped completely. My resolve to trade only longer-term is now deeper than ever and with the potential of a TRUMP Presidency in the U.S. my resolve will only intensify in favour of longer-term trading to avoid the TRUMP day to day nonsense.

Full supporting data relating to April is on my website under the heading “HISTORY / PERFORMANCE” – The Weekly FX Premium this year’s performance, use the following link: -  https://www.weeklyfxdrivethru.com

Below are the headline numbers via my overview summary.

MTHLY TOTS APR2023

For more information on me and how I trade via THE WEEKLY FX PREMIUM...
If you visit my website, you will find lots of additional supporting information about the way I trade. The link below should be helpful.
https://weeklyfxdrivethru.com/what-is-the-weekly-fx-premium/

THIS WEEK’S KEY DATA RELASES:

ECON DATA WC 01052023

Wow...

It's a huge week to get back into the market.

I will be easing my way back, subscribers to the FX PREMIUM already know that I have quite a few open trades still in play so new trades must only be tactical and to add ahead of a lot of the data in the pipeline may not be such a good idea.

For me the standouts are obviously: -

RBA – Interest Rate Decision and Monetary Policy Statement.
FOMC – FED funds rate, Monetary Policy Statement and Press Conference.
ECB – Interest Rate Decision, Monetary Policy Statement and Press Conference.
USD – Non Farm Payrolls.

but also...

NZD – Jobs Data
CAD – Jobs Data
USD – ADP Jobs Data
USD – ISM Services and Manufacturing PMi data

We also have RBA Governor Philip Lowe and BOC Governor Tiff Macklem speaking. All in all, a fun-packed week ahead.

THE CLOSE:

Finally, always remember longevity in Forex trading can only be achieved through trading with a good MINDSET, RISK, TRADE and HEAD MANAGEMENT, and above all set your position sizes in accordance with the size of your account and allow for some flexibility. Trade with a TRADE PLAN, basically, plan your trades and Trade your Plan.

Be grateful for your wins and count them. Keep a POSITIVE MINDSET in play at all times, regardless of the market conditions.

Scott Pickering
The Pip Accumulator

Twitter: @weeklyfxpremium - (Restricted feed)
Telegram: The Weekly FX Premium - (Restricted feed)
Twitter: @thepipaccumulator - (Open feed)

 https://weeklyfxdrivethru.com/disclaimer/

BLOG VERSION: #498 FREE NEWSLETTER
DATE: 30th April 2023

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FLASH, MOMENTUM, SWING, RADAR, FUNDAMENTAL, BREXIT, INVESTOR and (CORE) POSITION  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.

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