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.

Blash Version 3a/4

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 3a

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)

HERE

Screenshot_3
Success rate of some dynamic and candle confirmations

  • 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.

Version 4

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.

HERE

Screenshot_5
Some of the added statistics with V4

  • 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.

 

Pardo

 

 

 

Bitcoin Hopes & Dreams

“Technical Analysis doesn’t work” they say, as Bitcoin is supported at the $5800 – $6000 threshold once again, work that one out. Sure, it clearly doesn’t work, as it rejects continually from the downtrend line.

“People using Technical Analysis only they see what they want to see” they say, yet here I am holding many thousands of £ worth of coin’s, still looking at a descending Triangle with a consolidated flag back up to the top.

btc daily

You’re right, everyone, it will breakout soon, that’s what happens when its squashed in like this. Unfortunately it may not be in the direction we both want.

btc 4hr

Wheres the volume people? There is no accumulation here, not really, there is no bullish rejection, price is just floating. No-one is committing right now, after all the outrageous post’s about impending Bull-Run’s and over the top price estimates for year end, there is still no commitment.

My opinion? If this beast is going bullish again, then lurking in the midst’s around the 3.5 – 4k mark is a whole host of banks, hedge funds, institutes and Whales waiting for the absolute best price. We aint going anywhere without huge investment from outside the Crypto community. I dont reckon we can do it on our own, look out for Volume and wait for the rejection as low as possible, then enjoy the slow, steady push back. I hope you like playing the long game.

Of course now I’ve posted this the Bull-Run will establish itself (Sods Law) and believe me, I hope it does. Lets see if it does finally push out of this formation, and if it does, I’ll be ready for that retest because ‘Technical Analysis’ is very much valid, and always will be, to enable you to find an edge in the market, as long as you are mechanical in your Bias.