Thrive On Neutrality

“We give ourselves an edge through common sense trading principles, for the markets are random, and we are nothing more than a Casino with a long-term edge. And trading with a neutral, relaxed state of mind is our equivalent of card-counting. It is where we flourish without being seen.”

I am a massive believer in Integrity, I am often too honest for my own good. I have hurt people through honesty. But I will never apologise for being that way, for if we cannot be honest with others, we cannot be true with ourselves.

I often feel like my life is a list of regret’s, poor decisions that cannot be undone. Choices that characterise me, things that make me the man I am today. But I believe in communication, and as long as it is said truthfully with all avenues considered, then the forthwith direction is an integral one. That is something that has stuck with me through the years, and it is how I abolish my feelings of regret, the ones I can justify anyway. Did I consider the impact on the future, did I explore all avenues? Did any third party consider the same, and if they didn’t, they probably didn’t want it anyway.

When we talk about Trading, its important to consider the qualities within yourself that are relative to your mindset. By my own admission, I am a self-confessed wreck of a man plagued with regret, justified through belief of choice. Just because you can justify it within yourself, it doesn’t mean it doesn’t hurt, it doesn’t mean you don’t feel, and it certainly doesn’t take away the guilt or impact it has on other people. 

The difference with me, is that I can be honest with myself. I know I have these flaw’s that would otherwise make it impossible to become a consistently profitable trader. I have weeks where I don’t trade at all, because my mental state is not on point. If you trade when you are feeling like this, its not just your mental state that will be on a downer, it is also your account balance.

Promoters of Forex never consider this, they always have the ‘perfect strategy’ that will make you money quickly. They are not interested in whether your mental state is capable of handling a Trading environment, but acknowledging your flaws is paramount for success. We must tackle this immediately when we come into the markets, if you are feeling down, sick, guilty, jealous, angry, whatever it may be, step away. There is always another trade.

You will thrive on neutrality, when you are in a relaxed state. When your judgement is spot-on, when you can nail down those confirmations and enter a trade considering it as money lost, and winning or losing with an unemotional straight face. Because whether you like it or not, there is no such thing as the perfect strategy, no matter how many Facebook marketers believe there is one. 

We give ourselves an edge through common sense trading principles, for the markets are random, and we are nothing more than a Casino with a long-term edge. And trading with a neutral, relaxed state of mind is our equivalent of card-counting. It is where we flourish without being seen.

This is one of the unseen advantages of actually dedicating yourself to the Forex markets, you become a better person in all aspects. Philosophy guides me through difficult times, teaching yourself to become neutral in any situation will not only improve your trading but also your interactions with people everyday. When I think about my biggest regrets,  the ones from earlier in life that I cannot justify, and I think about the reasons they escalated in the first place, I know now that I didn’t enter a state of unemotional neutrality. I didn’t consider anyone else, I didn’t explore every avenue. I need to accept them as learning experiences that took me on a journey to become a better person.

And to those that cross me these days, you will probably never know the whole reason I do things, especially without communication, because there are probably streams of information that have been considered and wound up into a state of neutral reasoning. You may hurt, I may hurt, but it was the most balanced decision possible.

Thrive on neutrality inside or outside of the markets, being neutral is unemotional, and it can take some time to achieve clarity. So never rush into trades just as you wouldn’t rush into a car purchase, or the decision to have a Baby. Become the mindset, don’t let it dictate your chosen path.

Recommended Forex Brokers

Forex Brokers can be fraudulent, they can manipulate price, they should be regulated and have a degree of trust through experience. At this time, PardoFX can only recommend the following Forex Brokers through team experience. There is only one rule here, it must be regulated to some degree. Unlike every other Forex site, these clickable links are not affiliated with personal accounts, they are purely recommended from our traders. Obviously conduct your own research before you choose a Broker suitable for your needs.

Forex.com is a very well respected broker with the added bonus of being able to trade straight from the Trading-view Charts. They do have a higher spread than most though, if you’re a longer term trader this is an excellent option.

Leverage (Majors)- 1:30

Crypto Capable – No

FXCM is my personal choice due to being highly regulated and having a Spread-betting account for UK customers meaning gains are not taxable. Their charts are also the best on Trading-view, although you cant physically trade on there.

Leverage (Majors) 1:30

Crypto Capable BTC only @ 1:2

Pepperstone is very similar to FXCM in that it is safe, boring & reliable. The cTrader platform is very good in place of Metatrader, but their charts are not on Trading-view.

Leverage (Majors) – 1:30

Crypto Capable – BTC, BCH, LTC, DASH @ 1:2

IC Markets is a very popular Aussie regulated broker that we recommend as a high risk broker, offering huge leverage it is easier to blow an account but you are able to hold many more trades on a smaller account. If you use them, make sure you apply correct risk management. Offers the very good cTrader platform

Leverage – 1:500

Crypto Capable – BTC, ETH, DASH, LTC, BCH, XRP, EOS, EMC, NMC, PPC @ 1:5

Getting ready for the Bottom

Before we start, lets make it clear that I am not a signal or Investment advisor, and I am not qualified to do so. This is my opinion only, and do your own research before investing into the Crypto markets. Of course only invest what you can afford to lose.

Now, I know little about Crypto. My focus & success previously is generally around how established, accessible and reactive specific coin markets are. Its common sense really, as is everything in PardoFX.

Bitcoin. Is it at the bottom? Not yet. Is it near the bottom? I believe so. And with the bottom comes the turn in all Crypto markets. Even the best coins cannot gain in the current climate as the dependency on Bitcoin continues. What are the indicators of a reversal? Well look at my previous Bitcoin posts.

Capitulation has well and truly set in amongst emotional Crypto Traders, which is the single largest Bullish indicator for a reversal. Since the collapse of the support at $5800, the selling has been crazy. If you believe in the technology and value long term of this technology then you will have no qualms about getting back into the markets at a level that is suitably low that the risk is minimal. My aim is at $3000. When this is met I will look at investing into coins that I believe will give me the best chance of making good profits. $3000 is key because not only is it a significant level of support but it is also very important when it comes to mining BTC, it is generally accepted that it will no longer be profitable to mine Bitcoin below this area. And with that in mind there should be alot of support in the industry for keeping this level intact.

Accumulation will ideally begin here, if we see some high volume transactions take place or we use candlestick identification to establish a ground of manipulation we can look to enter. Even if we get in at 3k without that, I believe it could be a calculated risk that long term could leave you much, much better off, even after some initial portfolio loss. Lets not forget all the poor souls that invested at 6k, 10k, and even 20k. 3k gives us a minimal risk margin. The main risk will become the coins themselves, so to minimise that my main interest will be in the coins below.

Coinbase, love it or hate it, is the easiest, most accessible and best known Cryptocurrency Exchange for beginners. So it would make sense to invest in coins available to trade here. Now if you’re in the UK, you dont have access to buy/sell some of these Alt-coins outright with FIAT, but our American friends do. However we are available to trade them on the PRO version. Within Coinbase there are 3 coins outside the top 10 which could erupt when Volume enters the markets. Ethereum Classic (ETC), Basic Attention Token (BAT), and 0x (ZRX) which are currently trading at well below the prices that were available even before they were added to the Coinbase platform. We know they are established, because otherwise they wouldnt be on Coinbase, but do your research. I recommend Coincheckup for a quick glance and you will see that these coins are all highly rated. In fact ETC and 0x are among the most highly rated coins on there. My focus will be on these as I think they are extremely undervalued, and should rise substantially with any bullish traction in the markets. The main basis for investment is common sense, what did I do when I started in Crypto? I went on Coinbase and bought anything that was available. Im looking for others to do the same. Already holding a Bulk of LTC and ETH, and with no interest in Bitcoin or Bitcoin Cash, I think the value is in the hidden gems here. If you dont have a Coinbase account, click HERE to get one.

Continuing on on this path of Exchange Volume, im also looking at up and coming Exchange platforms, and coins offered there. Kucoin (KCS) but also Binance (BNB). Although Binance is already very well established of course. Kucoin is the pick of the exchanges here. Common sense dictates that with volume in the exchanges comes volume within that exchanges asset. KCS is available for $0.5 after an All Time High of $17, plus it will also reward you in commission and by paying less trading fee’s. I do believe Kucoin will become the next big exchange when the next run happens, the assets available to trade are fairly extensive and the platform itself is easy to navigate. The basis is, with exchange volume, comes exchange value. I expect Kucoin to do very well in this regards so my 4th and 5th targets are KCS and BNB but primarily KCS. You can sign-up for a Kucoin account HERE, or/and a Binance account HERE.

Other coins that I believe are dirt cheap and fantastic prospects long term are Stellar Lumens (XLM) and Electroneum (ETN). Stellar is already a top 10 coin, and I firmly believe ETN will be within the next 6 – 12 months. Im not going to go into detail on why I am targeting these coins other than dirt cheap prices, as I don’t need too, check the projects out yourselves.

Therefore in conclusion I will be looking to gain substantial amounts of BAT, ZRX, ETC, ETN, XLM, KCS & BNB when the bottom hits. Because to me thats common sense based on probable Volume plus two projects that I believe are very much worth investing in. Of course everyone disagree’s on this stuff, and I dont provide signals. This is just what I will be focusing on.

Pardo.

Weekly Review 18th – 23rd November

What a busy week, not often is it that I take on more than 3 trades per week. The set-ups where there, and they were taken. Its not often either that the markets are so frustrating, so to bring out a decent compounding gain on the account is a fantastic bonus. Its important to note at this point that although the Set-Ups channel offers many set-ups the only ones that make it into our ‘Blash Journal’ are trades I actually take myself.

During the market overview we established some key area’s to look out for.photo_2018-11-18_21-33-38

Now DXY didn’t break its channel, it faked out. Which led to closing two trades on a negative Greenback from the previous week. USDCHF & NZDUSD FOR 9.5% on account.

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Brexit negotiations limited our involvement with the Pound really other than a nice trade on GBPJPY that could have been closed out for 4% profit but ultimately dropped back to 1% which is fine, anything can happen with this currency right now.

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The Euro on the other hand, although risky with Brexit did offer up glorious Buy and Sell opportunities which alot of the team took advantage of. EURCAD, EURJPY Short, and EURNZD Buy. EURCAD being ‘trade of the week’ with its Trendline hit Head & Shoulders formation & equally impressive stacked entry. EURCAD earnt us a cool 5.8% on account within 18 hours, whereas I didn’t personally take the other trades, they moved nice also.

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Granted, the Aussie and the CAD didnt move quite as expected, and we also made some losses. Two to be precise! CADJPY & GBPCAD were fantastic set-ups which ultimately stopped out for a combined 4% loss. The error here was not so much the entries, more the stop-loss location, as in the end these trades came back into target and both trades stopped me out by 2 pips before turning. A lesson continually being learnt, protect against all set-up variations. AUDNZD on the other hand turned exactly where anticipated into a no draw-down swing trade that I will be looking to hold over the next few weeks.

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Yes, we do lose trades. I am not here to bullshit you, the point is, the risk is limited to 2% per trade or 4% per currency. The targeted gains are higher than that, always, with a TP1 of no less than 2:1 RRR. And so on that note the latest update on the Blash account is as follows. Its important to note that we don’t trade Blash set-ups some weeks, due to work commitments or training/education which comes first. We Compounded the Blash Journal by 46.5% since October 26th and we didn’t trade for two of them weeks.

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Until next time,

Pardo.

Trust & Usability

An important part,  of continuing this journey, is Trust. Of course I don’t expect every man and his dog to join us on this expedition on the whim of just me talking. Its supposed to be word of mouth referrals only, there isn’t really any value in anyone referring people into the group, that’s one of the benefits of this team. You will earn no extra money, and thus have no pressure bring people in like there is in so many other Forex groups out there.

Its easy to forget that this team has only been live since August 10th, and in that time we have come so far. I am forever looking to add-to and improve the content available, as well as make everything more accessible and user-friendly. Of course the operation is run by myself alone and it takes time. But have you seen the video content in the team’s Facebook navigation portal?

So whats been done lately in order to improve trust and usability? Well you will notice for one that the navigational page is now linked to every single thread on Facebook. Facebook can be messy, no need to navigate it anymore.

 

pfx fb navigation

The Live Calendar, allows the members to either add the PFX schedule to their existing gmail calendars, or interact with a forever up-to-date calendar which includes all Webinar links, payment schedules and of course information for the Christmas period, as well as upgrades to various aspects of the team and when they are happening.

calendar

Of course where there is subscription fees, there is room for anger that I may earn an excessive amount through subs fee’s, when the reality really isn’t that. So I made a live spreadsheet to update turnover & expenses and other information for the team to look at to make the subscription principle transparent, at the end of the day, its a payment for my time as well as the content. And it is great value, very cheap.

 

transparency

Last and probably most importantly, Trust-pilot. World renowned company focusing on word of mouth recognition. I have sent an invitation to all current and previous members to rate and review the company. I am proud of the fact that currently we stand 26th in category, with a majority of verified reviews, each one a 5 Star review. Look for the Trust-pilot integration into the website in the new-year.

trustpilot

So, very early days for the company, but making all the right moves for longevity. What I haven’t mentioned of course, is the update to Blash Version 3 (3a) and Version 4 incoming in the new year. Reductions of Subs for the Xmas period, a new premium website rebuild with plug-ins, a rework of a few of the Facebook units, and then a focus on purely everyday trading & Blash/Price Action set-up channels.

 

Regards,

Pardo