THE WEEKLY FX PREMIUM
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 a Forex Subscription service that provides subscribers with not just the trades that I am looking at but also some market commentary (examples below). I provide subscribers 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.
In 2021, the evolution of my subscription service continues.
I want 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 focuswith 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. For 2021, this is no different, however my changes are much more focused than in the past. In my opinion, more patience is required to wait for trades to slot into place, especially trades with a shorter-term horizon. The effect of much of the Economic data has taken a step back from having a meaningful influence in the shorter-term.
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. 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.
For 2021, I have fine-tuned my approach again by developing my outlook on POSITION TRADIING. I can now break my trade styles into three categories of trades: -
POSITION (CORE POSITION) TRADES
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.
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.
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 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.
3. 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.
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 a 5-year track record of profitable performances.
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 intend to look at my screens in detail 2/3 times a day. I will still stay educated on the news etc., but minute by minute examination of charts looking for trades will be no more.
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 and a review of my existing live trades and limit orders. Basically, this offers subscribers a greater insight into my macro and fundamenatal 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.
I have a very straightforward set of goals and objectives: -
- 15,480 net profitable pips (Copy of my 2021 "PIP Projection" is below)
- 80% of my trades profitable and 20% loss making trades.
- Average of +40 pips per completed trade in a calender year.
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.
In addition to the tweet I also email an excel spreadsheet with the trading chart once again and this provides more background and my thoughts to the trade.
There are 3 levels of subscription:
- SILVER: Monthly Rollover CAD$250.00 per month (Initially CAD$10.00 for the first 10 days then the Monthly Rollover commences).
- 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 2021 prices receive a discounted renewal price of CAD$1,000.00 (Saving 33%) for the following 12 months subscription.
The Pip Accumulator
December 30th 2020.
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.