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 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.