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
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.
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.
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.
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.
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.
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.
Until next time,
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.
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.
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.
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.
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.
So we only took two trades this week as our focus was very much on back-testing strategy, which is also time well spent trust me, probably even more valuable than compounding that account. Three trades were picked during the week, two of them had entries, the other ran into this week.
Whats important here is that there is becoming less and less reliance on me, more skill being gained through education and the team trading their own set-ups as planned. My set-ups channel is merely one of many many tools available. We held 2 zooms and 4 Monkey sessions on Facebook this week.
The first set-up was a short-term over-extension buy on GBPNZD, the second was a first retracement trade on AUDJPY. EURCHF didnt reach our trading point in time.
Heres an overview of the AJ Trade.
Now my mistake in hindsight is not setting a second TP point for AJ, s we usually do! Here is AJ now, 180 pips above the TP point. Blash catching the bigger moves as planned…
Not to worry though, the set-ups journal compounds a nice 18.5% on them two little gem’s. A great example of how easy it is to compound an account once you get started, with minimal effort actually trading.
I’ve long said that Blash ‘Strategy’ is not so much a strategy as a collection of common sense trading principles, for which you can pick and choose to suit your own trading style. Which is why the style in which we are educated through PardoFX makes it the perfect place to learn to trade properly, it is a collection of fundamental principles and philosophies and not something that has to be adopted 100% – Whatever works for you, as long as risk management is on point you really cant lose long term trading this way. On course Risk management is the one part of Blash that I would insist on you adopting, you really don’t need to trade with more than 2% risk per trade to make a huge accounts, as we are proving and finding.
I think its important to establish that point before we talk about the evolution of Blash with Version 4 on the horizon, since I’ve been asked so much about it, here is the upgrades in a Nutshell, so far. Without providing too much strategy information.
Version 3 will always be valid, it works wonders as we know, no need to disperse of it. Hotspot access as always is available via the PFX Premium area (Members Only)
- Updated minor confirmations on a couple of the faster moving pairs such as GBPNZD.
- Hotspot Technology having all dynamic confirmations and candles back-tested for a success rate allowing you the opportunity to pick & choose the best confirmations per pair if you wish too.
- Selected Best set-up to look for percentage wise.
- Updated V3 document
- ‘Best set-ups’ for each pair will be back tested using ‘Monkey See Monkey See’ across Facebook Live over time & saved within V3 unit on Facebook.
Very much focused on the mechanical movement of price for those with highly evolved trading emotions, I believe this will be the pinnacle of our trading here. Using Hotspot research to trade only with the best confirmations. Removing the excess and removing some restriction on entry area, V4 will allow us more trading opportunities and will probably result in a few extra losses, but the profit per trade should greatly increase. The philosophy here is’ Only trade what works best in the past’ and trade it regardless of external factors. We’re really looking at statistics here and the best option to consistently compound our account is to trade confirmations which have an 80% success rate any time you use it, that accuracy is likelier to be higher if its only in the ‘common sense’ locations. Again access is via the same spreadsheet through the members area.
- Enhanced (Tweaked) pair specific Minor confirmations using pair profiling.
- Enhanced (Tweaked) pair specific Major confirmations using pair profiling.
- In depth look into daily movement & volatility.
- Average draw-down and success rate of specific confirmation to dive down and get those stop’s as tight as possible.
- Likely trade movement using the double range principle.
- Best Candle Signal.
- Best Price Action signal.
- 4H Scalping option.
- TP using Daily Guide.
- Allows users to really pick just a few pairs and go to town on them, trade them for life.
- Likelihood of Price hitting a TP point.
Of course, it will take time to implement everything, but I estimate it will be complete within the next 45 days. Until then, lets Blash it up like we have been doing anyway!
Obviously, if you are a current re-subscriber, you an see it getting built through the Hotspot spreadsheet.