Another month has flown by…
This year at the end of every trading month and quarter, my DRIVE THRU blog will have a different format for both the FREE NEWSLETTER and WEEKLY FX PREMIUM subscribers’ variations of the blog.
The FREE NEWSLETTER will review the previous months performance and contain all the relevant data supporting that month’s performance.
The WEEKLY FX PREMIUM subscribers’ version, will in addition, have a review of the months trades, together with an update on my future ideas together with any updates to the excel spreadsheets containing my FUNDAMENTAL views that are contained inside the website under the supporting information tab.
In addition, at the conclusions of Q1, Q2 and Q3 a deeper review will be added with my thoughts looking into the upcoming quarter and beyond.
1.FEBRUARY 2019:
MY OVERVIEW OF THE MONTH:
Another bumper month with 2,265 pips generated, which was 20 pips more than January 2019.
Most of the pips generated this month were from my BREXIT related trades. I am running a specific TRADE PLAN within my overall TRADE PLAN for these trades until the UK leaves the European Union. We are in phase one of my TRADE PLAN sub section, phase two does NOT start until the terms of the BREXIT have been ratified.
Phase one provided a great number of pips in 2018 and again this year so far, my strict approach of “grab ‘n go” with BREXIT trades has played out exactly to plan. If phase two is as successful during the BREXIT negotiation I will be very happy.
1.1: THE PERFORMANCE STATISTICS:
MONTH NET PIPS = 2,265
YTD = 4,510
ANNUAL TARGET = 10,000
% ANNUAL TARGET ACHIEVED = 45%
MONTH COMPLETED TRADES = 43
POSITIVE TRADES = 39 (91%)
LOSS MAKING TRADES = 4 (9%)
MONTHLY TARGET P & L RATIO = 80% – 20%
MONTH ACTUAL P & L RATIO = 91% – 9%
YTD ACTUAL P & L RATIO = 87% – 13%
AVERAGE PIPS PER TRADE GOAL = 50 pips per trade
MONTH ACHIEVED = 52.67 pips per trade
YTD = 53.69 pips per trade
1.2: MONTHLY PERFORMANCE SUMMARIES:
1.3: THE TRADES:
1.4: YEAR TO DATE PERFORMANCE SUMMARY
1.5: 2019 – TRADING PROJECTION:
1.6: THE WEEKLY FX PREMIUM – BENEFITS OF SUBSCRIBING:
1.7: WEEKLY FX PREMIUM – THE TRADING HISTORY:
1.8: SUBSCRIPTION OPTIONS:
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SECTIONS 2, 3 and 4
WEEKLY FX PREMIUM SUBSCRIBERS ONLY:
2. FEBRUARY TRADING REVIEW:
3. LOOKING AHEAD… WHAT TRADES ARE NEXT:
4. LONGER-TERM FUNDAMENTAL VIEWS:
5. SUMMARY:
The markets are range bound and to a large extent trapped. The only pairs that are moving with less freedom are those that are GBP related.
The EUR/USD is caught between 1.1215 and 1.1470, and being the most liquid pair in the FX market and by far the largest contributor to the DXY (weighted basket) many commentators are not moving beyond the range bound conditions of the USD (DXY) and the EUR/USD.
There are still trades out there and you need patience to take advantage of these trades as cross rate effects aided by the stagnating EUR/USD can have a nullifying effect at times.
Nevertheless, as long as one trades with RISK and MONEY MANAGEMENT at all times one can take $$$ from this market, it just requires care and patience. Let the trades come to you based on your preferred entries, do not force trades.
Scott Pickering
The Pip Accumulator
Twitter: @pipaccumulator
https://weeklyfxdrivethru.com/disclaimer/
BLOG VERSION: #315 FREE NEWSLETTER
DATE: 3rd March 2019