“If you trade Cable, you’ve had this look alot the last 5 weeks!”
Is anybody surprised, that the Friday before Memorial Day Monday is a bust
and complete waste of time? … once the U.K. GDP numbers “yawned” the
market to sleep at 4:30 A.M. EST., what else is left but some “stop hunting” via
spikes up & down, shit fills, and a market that can’t move? “Well, welcome to
Directly below, today’s GBPUSD M5 candlestick chart with algorithm.
Take away a couple of M5 candles, and what you’re looking at is a complete
trading mess … no volumes, no liquidity, volatility compressed to the point
where I don’t think it can get much lower intraday, ranges that are a minimum
of 50% lower than normal in our 12 hour window of trading, and most
importantly while watching the trade, is the fact that the HAL9000 has been
programmed for max slippage.
The algorithm needs and demands a minimum of volatility to be effective
… well, this ain’t it, where everything is a coin flip, and every trade you make is
at risk for a 5 - 7 PIP blast in your face in seconds, and with max slippage in
force, the reward / risk ratios suck … throw in 30 - 40 PIP ranges in 12 hours,
and it’s a nightmare … hopefully, this shit ends soon, and the market can get
back to normal, cuz this “tail risk” low volatility creates all kinds of unintended
consequences for traders, and none of them are good. So, another day of
“dullsville” and treading water, while we wait for normalcy to return.
Two trades today … PAMM up slightly, about $17 bucks and some change
… when it won’t go, I got no choice but to liquidate and cover or risk getting it
shoved up my nose on a spike from nowhere.
So, it’s the same story we’ve faced since May 2 … rallies on vapors or “Brexit”
bullshit sprinkled in at the appropriate time when the scumbag LP bank’s find
themselves long , with an occasional spike higher like we had with retail sales
… and when that “supernova” explodes on pure short covering, the market
then dies and starts the grind lower one drop of blood at a time, making
staying short painful at best. And, this comes amid dwindling volatility which
makes everything worse, cuz if you’re wrong it’s very difficult to get the losses
Volatility is the lifeblood of trading … without it, you tread water until it
returns, simple as that. So, we wait it out, keep the powder dry, don’t do
“stupid shit” [like chase price higher/lower], and take whatever the market
offers until volatility returns … which, trust me, it will, and most likely uncoil
some truly unreal ranges in the process, and kill a few folks.
Monday is a Holiday, of course, in the U.S., but Europe will ignore it … so,
we’ll see what happens Monday … I’ll post Monday, so until then mi amigos,
I’m outta here … time for a cold one … Onward & Upward!!
PAMM Spreadsheet directly below.
Have a great Holiday weekend everybody!
OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND
START YOUR JOURNEY FROM WHERE YOU ARE AT TO
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