THE WEEKLY FX PREMIUM SUBSCRIPTION
HOW DOES IT WORK, WHAT'S IN IT FOR YOU?
OVERVIEW:
Let me first provide a little history.
In 2014, I launched the PREMIUM SERVICE, which was based around my trades that I been previously posting for FREE to my “WEEKLY FX DRIVE THRU” blog each weekend. These were well received, and I received great feedback asking for more, hence I launched my subscription service.
The PREMIUM SERVICE was changed to the WEEKLY FX PREMIUM in Q1 2018, as I decided to re-brand myself for the future, the name change being the initial change.
Just to confirm, The WEEKLY FX PREMIUM is basically a Market Commentary service (examples below). In addition, I provide subscribers to THE WEEKLY FX PREMIUM with the details of the trades that I am looking at, what I am doing with my existing LIVE trades. It is then up to subscribers whether or not they want to follow my trade, my ideas or not.
POSITION SIZING, OVER-TRADING, TRADE MANAGEMENT, HEAD MANAGEMENT (Trading Psychology) ACCOUNT MANAGEMENT and trading with a TRADE PLAN are ALL aspects of trading that I hold in high regard. LONGEVITY in trading is paramount to long-term trading success. Trading Forex is a marathon NOT a 100-metre sprint.
If you are looking for a "Get Rich Quick Approach"... this is NOT me.
Please look elsewhere.
I am looking to work with traders who have a long-term vision with clear goals and objectives. I am looking to work with serious traders.
BACKGROUND TO MY TRADING APPROACH:
In 2021, the evolution of my subscription service continued.
I wanted to build on the success of the past years of trading; 2019, +17,566 pips and 2020, +21,167 pips.
Over the past two years, I changed my entire focus with regards to my trading from a mixture of shorter-term and longer-term trading to purely focus on POSITION TRADING. Taking a longer-term perspective on trades and in so doing eliminate the noise that had started to cloud DAY TRADING. For several reasons the main being that the FX market has once again, in my opinion, changed its focus. I now see more reliance on news flow driving the price action, plus algorithmic trading is growing its daily influence in the Forex market is in my opinion increasing.
Since the launch of my subscription service back in 2014, I have changed my focus and approach as the market changes. My changes to how I trade are much more focused than in the past. In my opinion, more patience is required to wait for trades to slot into place, it is so crucial to trade with a TRADE PLAN. However, I have taken the general TRADE PLAN approach a stage further. I now trade multiple smaller TRADE PLANS aligned to specific currency pairs with my overall TRADE PLAN. This provides focus and ACCOUNT MANAGEMENT far beyond the norm.
This change has resulted in me changing my focus to longer-term trading only. The market noise associated with day and swing trading, in the short-term, is just no longer of interest to me and the FUNDAMENTAL, MACRO, LONGER-TERM POSITION TRADING is where I want to be mainly focused moving forward.
It is “The Noise” from shorter-term time frame trades, that is catching out many traders. That, coupled with GREED thru OVER-TRADING. Without doubt, news flow comments are being picked up by algorithms and pushing price action until a technical indicator is hit and then a wicked switch in direction occurs before the markets settle down. Manual traders are being both spooked and hit in the pocket.
MY TRADE STYLES and TRADE MANAGEMENT:
I have fine-tuned my approach again by developing my outlook on POSITION TRADING. I can now break my trade styles into three categories of trades: -
FLASH TRADES
RADAR TRADES
FUNDAMENTAL TRADES
(CORE) POSITION TRADES
TRADE STYLE OVERVIEWS:
Whilst I will trade a number of TRADE STYLES in a calendar year, fundamentally I am a long-term POSITION TRADER
Longer-term outlook trades with entries via LIMIT ORDER into which I look to stack multiple small sized individual positions. This gives me opportunities to tactically add additional trades at key levels and to take profits by removing trades whilst maintaining a “(CORE) POSITION”.
This approach, with smaller positions and wider stops keeps me away from the “MARKET NOISE”. My STOP LOSS levels are based on Monthly ATRs (Average True Ranges) and sometimes maybe beyond for tactical reasons. Sometimes I may HEDGE my open positions if I view this to be tactically advantageous.
FUNDAMENTAL TRADES:
These are long-term trades based on technical set ups using generational lows, generational highs, and range extremes as my entry with stops placed just below or just above the key prior defining level. Price targets (limits) are based upon levels of confluences within the mini ranges inside the range extremes.
All trades are by LIMIT ORDER entries and are based upon a medium-term trading outlook, usually from a few weeks to several months in duration. Mostly they are single position trades, although there are exceptions from time to time. I use both the Weekly and Monthly average true ranges when setting my stop and profit levels together with technical market confluences.
These are “AT MARKET” opportunist trades based upon the current market pricing, for a specific potential profit opportunity. Usually a “DAY TRADE” that I am looking to develop into a SWING TRADE.
1. 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. But this can drift to hours, maybe a day or to if volatility dries up.
ENTRY & EXIT GUIDELINES: Via twitter @weeklyfxpremium. 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.
TRADE MANAGEMENT: I normally do NOT have multiple trades in operation with FLASH TRADES. They can best be summed up as opportunist trades, for this reason they are NOT planned in advance, they are more based on inter-day market opportunities.
2. 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 1 or 2 week duration... maybe longer.
ENTRY & EXIT GUIDELINES: Via twitter @weeklyfxpremium. 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.15% - 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.150 - 250 pips, although this may vary by pair traded, time of trade placed and the pairs liquidity depth. I am a great believer with Average True Ranges (ATR's) as a guideline. With RADAR TRADES the weekly ATR is an initial guide although confluences of previous buyer / seller levels of interest I believe offer better trading opportunities.
TRADE MANAGEMENT: I will from to time have multiple trades in operation and with limit orders set to trigger as well with this TRADE STYLE. Depending upon the currency pair, the size of my trade and the number of trades will vary. My goal is always smaller position sizes with wider stops to eliminate the market noise and provide me with greater flexibility to manage the open position in play.
3. FUNDAMENTAL TRADES (FUN):
TYPICAL FX PAIRS TRADED: No exceptions.
TRADER SUTABILITY: These are 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 a year or two in duration. It is dependant upon the trade and the projected range of the trade in question.
ENTRY & EXIT GUIDELINES: Entries are by pre-defined LIMIT ORDER set ups.
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.
STOP LOSS LEVELS: These are defined by confluence areas of the mini ranges within the overall range extremes. Rather than using Monthly Average True Ranges (ATR), using areas of buyer / seller confluences to provide STOP LEVELS really follows previous price action, which is in almost all situations checked by the market.
TRADE MANAGEMENT: The FUNDAMENTAL TRADE style will have multiple “LIVE” positions and multiple “LIMIT ORDERS” pre-determined and ready to trigger.
4. POSITION TRADES / CORE POSITION TRADES (POS):
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 multiple years in duration.
ENTRY & EXIT GUIDELINES: Via twitter @weeklyfxpremium. Entries are by pre-defined LIMIT ORDER set ups.
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.
STOP LOSS LEVELS: These will be based on the Monthly Average True Range (ATR), but this is very flexible based on my anticipated trading timeframe. 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. These are long-term trades, small position sizes with very wide stop loss levels. 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.
TRADE MANAGEMENT: 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. There could be up to 10 maybe even 15 trades combined between LIVE and LIMIT ORDERS.
GOALS AND OBJECTIVES:
BACKGROUND:
I am at the outset a FUNDAMENTAL trader first and then technical. I use the alignment of technical set ups with my FUNDAMENTAL views to give me my TRADE SET ups.
From my perspective, as a manual trader, trading Forex is all about repetition. In very basic terms you sell “RIPS” and buy “DIPS”. The key to making it all work is selecting the “High Probability” trades that are contained on every trading chart.
Whilst I cannot 100% guarantee that subscribers will make money from my suggested trades, the WEEKLY FX PREMIUM has over 7 years track record of profitable performances. We all live in different parts of the world. It is virtually impossible for us all to be in front of out trading screens at the same time. Trading my trades is 100% your decision. You trade what you want when you want.
I am basically a MACRO OVERVIEW and FUNDAMENTAL VIEWS trader who provides market commentary for my FX PREMIUM subscribers, via an exclusive Twitter feed, exclusive blog content and TwitLonger posts. Seeing what I am doing with my trades is the bonus for you BUT, only if you want it.
Since launching my subscription service in 2014, based on an annual performance, I have not lost money. Since 2017, I have been trading smaller position sizes with wider stops to accommodate the noise. I have not been seeing the $$$ return that I should have seen regardless of the pips generated.
I only look at my screens in detail 2/3 times a day. I still stay educated with the news etc., but minute by minute examination of charts, I have moved on from being that type of trader.
Every weekend in alignment with the dates of the WEEKLY FX DRIVE THRU, for WEEKLY FX PREMIUM subscribers only, I post "THE SUNDAY MORNING ZOOM", which a look ahead at upcoming FX related new events. I also provide additional to the WEEKLY FX DRIVE THRU blog exclusive content, additional market commentary together with a review of my existing live trades and limit orders. Basically, this offers my subscribers a greater insight into my macro and fundamental views via my chart analysis.
The WEEKLY FX PREMIUM is open to all traders, whether FULL-TIME or PART-TIME whether, new, intermediate, or experienced and regardless of the size of your investment in the Forex market. Every report I complete, and post is based on single lot trading. Every trader has different sized pockets and different RISK parameters.
2023 GOALS AND OBJECTIVES:
I have a very straightforward set of goals and objectives: -
- +11,100 net profitable pips (Copy of my 2023 "PIP Projection" is below)
- 80% of my trades profitable and 20% loss making trades.
- Average of +42 pips per completed trade in a calendar based on my trade style mix of completed trades.
My subscriber area website contains a full EDUCATION section to support a trader’s day to day needs and requirements. For those who subscribe at PLATINUM STATUS, they also have the option, if they want it, of 1-on-1 market review sessions each month via SKYPE or FaceTime.
How does it all work?
As soon as I see a trade set up or a trade that I want to trade, I send out a tweet via my WEEKLY FX PREMIUM subscribers only secure Twitter account @weeklyfxpremium. This tweet contains the entry and potential exit of the trade plus the RISK % that I am attaching to the trade plus a supporting trade chart.
There are 3 levels of subscription:
- SILVER: Monthly Rollover CAD$250.00 per month billed monthly to your credit card. You can cancel at any time.
- GOLD: 3 months (10 weeks) CAD$600.00
- GOLD: 6 months (20 weeks) CAD$1,000.00
- PLATINUM: 12 months (40 weeks) CAD$1.500.00*
*PLATINUM subscribers who renew on their subscription expiry date, based on 2022 prices receive a discounted renewal price of CAD$1,000.00 (Saving 33%) for the following 12 months subscription.
Scott Pickering
The Pip Accumulator
December 20th 2022.
Below are examples recent and older to communications via the WEEKLY FX PREMIUM. These are issued via Twit Longer, through Twitter, Twitter itself and by email to subscribers.
