website header 2

website header 2

Thursday, September 29, 2016

DRIP, DRIP, DRIP: MORE SELLING


“At least somebody has the right attitude!”
Again today, turning the machines on produces another “for Christ’s sake, not another bullshit low volume, do nothing, search for buy/sell stops, worthless bucket of spit day.” Looking at the dog, he’s the only one taking everything in stride, as he teaches us all how to mentally adapt to bullshit trading days. In the infamous words of the Mrs., “when life gives you lemons, demand chocolate!”

Of course, as simple and as easy the volatility algorithm is to implement while trading, its design was much more complex and started with the premise “please trading Gods, keep my ass out of trouble, for I know not what I do!” Once you start there and work from that premise, now all you have to do is follow it; “To sleep, perchance to dream – ay, there’s the rub.” [Thank you Bill Shakespeare via ‘Hamlet’]
Because I got to tell you, some days I feel like the dog below.
As I sit here, I can’t help but feel the selling pressure of the commercials; it doesn’t seem to matter that Deutsche Bank & now Commerzbank are in deep trouble; it doesn’t matter that China’s economy is falling off a cliff. Nothing matters, the selling continues, and then [maybe] we get 5 to 10 minutes of short covering, that when it’s over, nobody seems to want to buy.
It’s nothing but a stop hunt, and if you can’t see that, when after a couple of hours of New York trading, then if you wander in and ignore algorithm rules, only pure luck will save you. Sorry, hope is not a trading strategy.
I don’t particularly like sitting here and watching slop; on the other hand, I don’t see handing money to the Liquidity Provider as something I want to do either. So, here we sit, patiently waiting for our opportunities.
Crude Oil on the other hand, has had 2 great buy signals worth about 60-70 cents per bbl. profit; I’ll leave it to you to explore them on your own if you’re interested. I captured the first one and left the second one alone due to the somewhat high range for the day. If you’re new to all of this, all the crude oil info & documentation you need is available in the “Download Links” section of the website over in the right column. Everything is free for download, or online viewing [mq4 files can only be downloaded] from my shared files at box.com. You don’t need to sign up or create an account; simply follow the link and read or download.
Tomorrow is another day … we’ll see what happens, but the small ranges coupled with falling volatility, when in fact it should be rising for this time of year, has me thinking the commercials are clearly in control of price, and that means lower prices ahead. I hope I’m wrong and they get caught with their pants down, but I just don’t see anything short of a total collapse of the banks in Europe to get money to flow into gold for longer than about 20 minutes.
The beach awaits.
Have a great day everybody!
-vegas

UPDATE: Well, that escalated quickly. Bloomberg reports large hedge funds are withdrawing money from Deutsche Bank over fears the bank is in trouble. Gold has popped about $3 ... we'll see if this rally has any "legs" going onto tomorrow. Maybe this is the catalyst to get this market going up again.
OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

 


No comments:

Post a Comment