Friday October 8th 2021


Hey Folks, for once, I am glad to see the end of the week. It's been a tough week for me. I overworked myself in the garden and the yard last weekend and Mr P has had me by the throat all the week, or at least that's what it feels like - so I am doin' nuthin' this weekend - made my mind up ;-)

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I noticed for some weeks that apart from a faithful few, not many of you seem to attend our Wednesday online meetings since the usual summer holiday time. I am wondering if you really want or need the Wednesday meetings any more? I think it's probably OK after 15 years to say "use it or lose it"

I hate to offend those who come, rain or shine, every week, but if the majority don't have time to come, maybe I should think about a video a week instead. Your choice entirely - let me know - or don't - that'll give me a clue either way ;-)

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I thought you might like to see this from my archives. I bought her cheap off a photograph, on the hard in Anglesey. She was delivered to Wick by lorry. I sailed her back to the island of Hoy across the Pentland Firth for complete renovation. Six months after putting the stripped-out hull into the boatshed, this is the day the completely rebuilt boat went back in that water. And yes, that is me in the red boiler-suit, pulling a rope to put her on an anchor. And BTW ----- I had never even heard of forex ;-)


Have a wonderful weekend ;-)


1

Trend Pair*: EUR/AUD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 07/10/21 12:25 PM
Time in Trade*: 4 3/4 hours
Range: (Stop to Entry)*: 53
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 2 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: Noticed early in the week that this pair was approaching barrier at 1.5900 with strong price action in the weekly chart. . Mal posted again this morning that it had breached the barrier so I revisited it. I found a nice pullback in the 4 hour chart which did not go back above the barrier so marked up my grid and set my order. It triggered shortly thereafter, pulled back a bit which was expected and then carried on down. I watched it for some time and as 5pm approached it began to stall. I decided to TTM in this slow market.
:
Pips? (+ or -)*: +40.1
ROI%? (+ or -)*: +1.51%
:
Name*: Rhonda
Location*: Scotland
Demo/Live*: Live

Good Rhonda ;-)


2

Trend Pair*: EUR/GBP
Chart Time-Frame*: 2 hour
Date & UK Time of 1st Entry*: 07/10/21 05:53 PM
Time in Trade*: 1H 43m
Range: (Stop to Entry)*: 30
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 1 star
Rate The Price Action (1 to 5)*: 1 star
OVERALL RATING (1 to 5)*: 1 star
:
:
Relevant Details & Your Plan*: As per the meeting I scrutinised the weekly for potential trades in a slow market. In the weekly this pair had travelled to virtually the bottom of the channel but there was a bit left for a sell trade, with signs of movement today.

I found an entry in the 2H and entered a market order, watching most of the time, I exited when the move retraced, given the low scoring and available distance to move in.
:
Pips? (+ or -)*: 7.5
ROI%? (+ or -)*: 0.5
:
Name*: Mark
Location*: Skipton
Demo/Live*: Demo

Yes, you are right, there wasn't much room. But you have become a very good trader although you haven't had much time to show it lately with your holidays and a hard week this week - nevertheless, because I do rate you as a good trader I do not criticise the tightness to the channel bottom ;-)


3

Trend Pair*: AUD/USD
Chart Time-Frame*: 2 hour
Date & UK Time of 1st Entry*: 07/10/21 10:07 AM
Time in Trade*: 10hrs 30mins
Range: (Stop to Entry)*: 40
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 2 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: This has been moving down since May with the occasional pull back in the weekly chart. There was a 2 week long pull back 5&6 weeks ago before it continued down. The previous 2 weeks were small candles with last week showing little advancement with a longish wick top and bottom. I thought this was a pause in the downward trend. If this moved it had good potential especially if it moved below the previous pull back at 0.7100. I entered when it was moving down from a pullback in the 2hr chart and occasionally checked it in the daily. It fluctuated between -1% and being in profit for most of the day. When I checked after leaving a concert it was surprisingly 5 pips away from the stop loss. Given that I had very little more to lose at that point I left it open and was stopped out overnight. It has continued to move upwards since then so my assessment was wrong.
:
Pips? (+ or -)*: -40
ROI%? (+ or -)*: -2%
:
Name*: Mick
Location*: Skipton
Demo/Live*: Demo

OK Mick, you'll be a bit disappointed after such a brilliant week last week - but don't be. I'm aware this is you really trying to read the weekly, which is what I wanted from you - so let's see what we can learn from my weekly chart below....

You are right when you say the overall sentiment is down since May. You are right about the two pull-back weeks 5/6 weeks ago. Then we had two downwards weeks of around 100 pips each. But then it becomes uncertain through the last two weeks before this week - and similar for this week also ---- and THAT is what wants teasing out...

First, after the two 100 pip red weeks, the candle the week before last, has a small body and biggish wicks at both ends. That says, "Whoa, I'm not going down any further, I don't know what to do," Last week's candle says exactly the same - right Mick? And then we come to this week's candle.... what is it saying?

I think it's saying to the previous 2 candles, "I agree - I'm not going down any further either fellas - I think I'll go back up..."

These last three candles, culminating in this week's, actually says - a buy is a MUCH better prospect. So - when the market is slow, you aren't going to find easy trades by just glancing at the weekly. The market is not allowing for that this week - which means you have to TEASE out the EVIDENCE - as I said at the meeting. And be very careful NOT to assume something 'might' happen. There is one cast-iron rule: NEVER ASSUME. That's one to put in your notes I think ;-)

Hope that helps Mick - and maybe some others too ;-)


4

Trend Pair*: AUD/NZD
Chart Time-Frame*: 12 hour
Date & UK Time of 1st Entry*: 06/10/21 09:58 AM
Time in Trade*: 1 day, 14 hrs
Range: (Stop to Entry)*: 60
% of Capital *: 2.0%
Buy or Sell Trade*: Buy
:
:
Rate The Move Steepness (1 to 5)*: 3 stars
Rate The Price Action (1 to 5)*: 3 stars
OVERALL RATING (1 to 5)*: 3 stars
:
:
Relevant Details & Your Plan*: Watching this as has bounced up from a sig support at 1.300 and had traded it the previous week. Dropped to the 12 hr where it had taken a breather for a couple of days and set an EO top of the wicks to the left (previous EO had expired) . Triggered a day later and was happy to leave this without much monitoring.

This afternoon it was retreating -quite likely just another pull back but decided to TTM and take the profit as it was nearing the end of the week for NZ and Oz and I couldn't watch it the rest of the afternoon.
Will watch this and get back in if continues next week.
:
Pips? (+ or -)*: +40
ROI%? (+ or -)*: +1.3%
:
Name*: Michelle
Location*: NZ
Demo/Live*: Demo

You did right. You know it. Don't be afraid to be happy that the money is in the bank and not at risk. You KNOW that makes sense - right Michelle?


5

Trend Pair*: EUR/CAD
Chart Time-Frame*: 4 hour
Date & UK Time of 1st Entry*: 07/09/21 03:30 PM
Time in Trade*: 5 hrs
Range: (Stop to Entry)*: 50
% of Capital *: 2.0%
Buy or Sell Trade*: Sell
:
:
Rate The Move Steepness (1 to 5)*: 2 stars
Rate The Price Action (1 to 5)*: 2 stars
OVERALL RATING (1 to 5)*: 2 stars
:
:
Relevant Details & Your Plan*: This has been on my watchlist and noted that it has fallen through support of 1.4600 this week as it's been heading down. As noted by others in the ET&S, I looked for a pullback candle for entry and monitored until until I felt it had stalled and TTM
:
Pips? (+ or -)*: +25
ROI%? (+ or -)*: +1%
:
Name*: Jim
Location*: Chapel Hill
Demo/Live*: Demo

Once again my friend, I have to say - if this is on your watch-list, why leave it so lateL This has been a brilliant fall for potentially great returns. You were hugely late - and then get out so early? I have to think your mind is not fully on the job hereJim. You and I both know that you could be doing much better ;-)



Monday*: NT
Tuesday*: +94.2
Wednesday*: UTT
Thursday*: +7.5
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: 101.7
Week's Total Roi %: 3.0%
Accumulative ROI %: 78.06


:
Name*: Mark
Location*: Skipton
Demo or Live:

I don't know if you've notced but at 3% or over, I always
give a WELL DONE in caps, because, 3% a week is a magic
number. An average of 3% a week, compounds to an
astronomical 319% a year, in a 48 week trading year. That's
why I spoke so much about averages on Wednesday.

I have no doubt, that if you really applied yourself, you could
average 3% a week. You know it ;-)



Monday*: UTT
Tuesday*: +33.2
Wednesday*: NT
Thursday*: +40.1
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: +73.3
Week's Total Roi %: +2.2
Accumulative ROI %: +15.51


:
Name*: Clare
Location*: Saffron Walden
Demo or Live: Demo

Another good steady positive week for you. As I
have already said in previous weeks, I'm very happy
that you have made huge progress - and even if you
only did 2% a week, as I said on Wednesday, that
would compound to 168% a year. Is that where you
anticipated being?

Well done Clare ;-)



Monday*: NT
Tuesday*: UTT
Wednesday*: NT
Thursday*: -40
Friday*: NT
:
Remarks (Optional): Still trades open which I'll post later
:
Week's Total Pips: -40
Week's Total Roi %: -2%
Accumulative ROI %:
:
Name*: Mick
Location*: Skipton
Demo or Live: Demo

I don't have a challenge with you now Mick.
I know you are simply going through the
process of learning a trade which we both
now know you ae well suited for.

Just stay open and keep learning ;-)



Monday*: NT
Tuesday*: NT
Wednesday*: +36
Thursday*: NT
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: +36
Week's Total Roi %: +1.03
Accumulative ROI %: +103


:
Name*: Mal
Location*: London
Demo or Live: Live

I know time pressures from lots of different quarters
are moe than keeping you busy ;-
)



Monday*: NT
Tuesday*: +30.5
Wednesday*: NT
Thursday*: +40.1
Friday*: NY
:
Remarks (Optional):
:
Week's Total Pips: +70.6
Week's Total Roi %: +2.78%
Accumulative ROI %: +380.42%


:
Name*: Rhonda
Location*: Scotland
Demo or Live: Live

That is a huge 380% since you went live with
this new system. Pretty darn average, don't you think?
That's amazing numbers Honey. Well deserved...


Monday*: NT
Tuesday*: UTT
Wednesday*: +11
Thursday*: +25
Friday*: UTT
:
Remarks (Optional):
:
Week's Total Pips: +36
Week's Total Roi %: +1.88%
Accumulative ROI %: +28.01


:
Name*: Jim
Location*: Chapel Hill
Demo or Live: Demo

I'm thinking this could have been a good
bit bigger old friend ;-)


Monday*: -3.9
Tuesday*: NT
Wednesday*: NT
Thursday*: -16.5
Friday*: NT
:
Remarks (Optional):
:
Week's Total Pips: -20.4
Week's Total Roi %: -1.27%
Accumulative ROI %: +8.9%
:
Name*: Adrian
Location*: Bristol
Demo or Live: Demo

Just like MIck, you are in the process of learning
to read the weekly
chart. As I have said before
persevere and it will come ;-)

Monday*: -22
Tuesday*: NTT
Wednesday*: NTT
Thursday*: +25
Friday*: NTT
:
Remarks (Optional):
:
Week's Total Pips: +3
Week's Total Roi %: +0.16
Accumulative ROI %: +35.89
:
Name*: Geoff
Location*: Edinburgh
Demo or Live: Demo

First week for yonks when you didn't hit your
target. We'll be emailing over he weekend. I know
you want to go up a level. Quite right too ;-)


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