Weekly review 29th Oct – 2nd Nov

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.

aj bl1aj2aj3aj4

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…

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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.

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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

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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

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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

 

 

 

Aston Martins & Balconies

Today I announced the impending arrival of Blash Strategy Version 4, now that may mean nothing to you and that’s fine. But essentially its not a strategy, its a trading philosophy based on common sense. Version 3 was 35 pages long and is revered by those that follow it as a bible in common sense trading.

It got me thinking about all the common failures you see within every Facebook trading ad, and the people it attracts. Everyone loves a get rich quick scheme, you are easy money for these vultures. If you sign up to a service because you see a post of someone leaning across an Aston Martin’s bonnet, you may as well throw your money into the autumn bonfires. You’ve lost the game before you even begin.

It isn’t about money, it really isn’t. Its about life, its about wanting to be free, its about keeping hold of and compounding your savings as a percentile not a dollar sign. Not throwing 50% account risk on a Bitcoin buy because some moron on Instagram told you to do so when you joined their Whats-app group. If you want to grow your funds, put in the time to educate yourself, ignore the money and find what works.

These people in their flashy cars, generally pay a lease. A lease bought with yours and everyone else’s subscription fee’s. Fast cars are not the answer to life problems. My 1.6 Renault Megane with the window that doesn’t open and the squeaky wheel bearing, that does me just fine. Common sense does not dictate that I waste money on a flash car at this stage in my life. Discipline within Forex should transpose itself into everyday life, including how you spend your money & how you treat your family. It doesn’t need to be used to entice poor individuals into becoming emotional about money before they have even begun treading the trading journey. I find it funny that everyone apparently owns a penthouse apartment and leaves their laptop open on a coffee table with an MT4 chart on display with a beautiful view. You don’t really fall for that do you?

When you think about what you actually get out of these schemes, you literally have a return of 0. If you’re lucky they may teach you some basic’s about their personal strategy which is the best ever created and so you can hugely over-leverage your account to be part of the action. A little lesson for you, something that may work for them probably wont work for you. There is no sustainable value for you, even if you do gain a little money, education is far more valuable for the longevity of your trading career. I’ll summarise 90% of these groups up for you.

  1. Short Time-frame
  2. Oscillator indication used in some way to show overbought / oversold levels.
  3. Multiple Lots at huge account risk.

What you’re not told is that price can stay overbought/oversold for hours on short time-frames, that’s where you lose your money. Because the trade goes against you and your account blows, but its not your fault, because you don’t know any better.

That’s why we don’t show you that stuff here. I can show you trade idea’s before and after, I can show you how to enter and find confirmation, its a large hand guiding you down your own path using your own style in conjunction with common sense trading under the umbrella of Blash philosophy. Its nothing fancy, there’s no hype, there’s no bullshit. Its just trading. I can show you how to make 20% a week, its happened many times here. With just 2% risk per trade. We’re talking about losing pocket change if for some reason it doesn’t go your way. Its a no brainer.

I want longevity in a trading team. In a shorter time than you think, you will be helping me and others around you instead of their being a focal point of one trader. Its already like that here, its brilliant.

If you agree with me, share this post. If you don’t, call me on it.

Blash Hot-spots (V3a)

As Blash philosophy has evolved over-time there are some aspects that I have learnt to depend on when it comes to progression and longevity. One of them is extensive journal-ling (I recommend Edgewonk), the other is quick-fire back-testing (I recommend Tradingview Rewind). What worked previously will probably work again. This last week has provided a really key insight into how to accelerate growth even more than has previously been possible.

We’re talking about a philosophy and mental state that has had one losing week in 11 months since being showcased, but we’re not talking about greed here when we talk about accelerating growth, we’re talking about natural profiling. Figuring out the secret’s to how pair’s really move and being to switch between them with such an outrageous advantage that it is almost criminal, using basic, common sense of Trend trading between PRA’s and squiggly lines telling you to get in. (Link to Introduction & Trade Management Zoom)

Profiling Example

For anyone in the team, you’ll find an ongoing spreadsheet of a profile for each FX pair being built within the PFX Team Dropbox using coloured key attribution on each confirmation we use within Blash philosophy, and hopefully a handy note to state what kind of Price Action to use it in conjunction with. My hope is to have the GBP pairs complete with Level 1 profiling by the time the weekend is out.

pfx tools screenshot

This really is the next level. What people look for when they want to trade FX successfully, this is it. This is why there are no signals here only set-ups. If you learn how to apply the information given as the team are doing throughout, the sky is the limit.

Level 1 profiling has started on all pairs and will be updated live on the spreadsheet. Once this is complete, Level 2 profiling will be a more extensive process diving into each pair and precisely adapting settings to see if we can get that magic dark green colour on each confirmation. Dont underestimate the amount of work that will be going into this, but then thats why people learn through PFX and can literally see their future laid out in front of them.

Exciting times,

Pardo.

Team Schedule – November

All Zoom meetings at 20:00 London time unless otherwise stated. Each session will last at least an hour but you can come & go as you please. All sessions are recorded and placed into the appropriate unit within the group (Which can be navigated Here)

‘Monkey See Monkey Do’ sessions are on FB Live and are randomised. I backtest live (Rewind Tool) using a random style, chart, date and timeframe picked by a member. Very close to real trading, but a hell of alot quicker.

November Schedule

PFX Trading Basics Zooms

Focusing on a different topic each time, usual a topic of discussion within the Telegram Channel from that previous week.

3rd, 11th, 19th, 27th

PFX Q&A sessions

Ask anything sessions, come with questions. Any subject required will be covered.

6th, 14th, 22nd, 30th

Strategy Specific Training

Covering BLASH specific strategy and Trade management, usually surrounding member requests or progression through ‘BLASH Strat’ PDF.

9th, 24th

Psychology & Mentality Session

The hardest part of trading we will be pushing this into the schedule after the success of the first mentality focused PFX Q&A session, and it may play an even bigger role in the future. Come here with your emotions.

14th

Market Overview

4th, 11th, 18th, 25th

Tranche 1 Payments

Any Subscribers between 1st & 15th will require to be paid up by the end of the 15th each month. (Click to Subscribe)

Tranche 2 Payments

Any Subscribers between 15th & 30th will require to be paid up by the end of the 30th each month. (Click to Subscribe)

Weekly Review 26th October

What a week, patience pays virtue. For a period of time the Blash set-ups were on hold partly due to family circumstances, partly due to choppy unpredictable markets, awaiting some direction. But its all good, there’s so much training to be done. Its important to remember, you don’t have to trade every day. You wait for the market to come to you and give yourself the best set-ups with the smallest amount of risk. The smaller the risk, the greater the profit. Its nothing more than common sense. So when you see some direction, the markets become logical. Hence why I posted this at the beginning of the week & followed it up at the end. Momentum on the USD, so lets look at the Greenback primarily this week.photo_2018-10-25_19-21-25

What happened over the next 5 days was a succession of not many trades, but massive compounded growth. Here’s all the Set-Ups in the channel that were taken, presented beforehand…

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And here is the position at the end of the week.

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Instead of promising the world, promising that it is easy to make alot of money, I am promising reality, opportunity and good, solid analysis without hindsight. Money creates emotion, you don’t need to see my account balance when I consistently show you the potential and provide you with actual education to allow you to enter these trades and those that you find in whatever style that suits you. That’s what we do here, that is PardoFX personified.

Some more fantastic zoom sessions helped some of the guys further on the journey, its exciting to see the progression. We introduced ‘Monkey See Monkey Do’ where you provide a task for myself to back-test allowing me to show you how to trade in as close to live trading as possible using past price action & strategy.

This next set of slides demonstrates the power of the above trades. They have all been closed out for the end of the week but they do have holding potential so some of the guys may still be in them. No more than 2% risk per trade, 22 Trades over 2 months, 120% compounded profit on the ‘BLASH Journal’ account, I wont show my real account, I dont need too. This is simulated based on the set-ups posted without hindsight, so it isn’t hype, its potential. This week demonstrated perfectly what we always talk about.

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This is actual trading, there are no pictures of me lying across an Aston Martin. This is education. This is a phenomenal place to enhance your trading ability, this is PardoFX. No hype, no bullshit and definitely no network marketing. Those people posing on their Aston Martins on your Facebook feed? They buy or lease them from the money gained from your emotional, get rich quick minds through subscription and network marketing.. Not their trades or their analysis. Think about that. The people within the team understand that, the cars, the boats, the houses, they don’t matter in the short term. And that’s why they are flourishing.

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.