powered by Coinlib

Friday, December 29, 2017


“If baseball doesn’t work out, come trade FX … your brain is perfect!”

Take everything I wrote about yesterday, and scroll today’s M1 in EURUSD; “you’ll be quoting Yogi before you know it”. Criminal to be sure, but there isn’t anybody interested in stopping it. Once we get into next week, this type of BS should go away for the most part … at least not nearly as prevalent as this week.

Short post today … it’s Friday before New Year’s Eve on Sunday, and nobody cares much about trading. I’ll have post on Monday, setting up the New Year and what I’m looking for.

I go to place a limit order to sell above 1.20 as EURUSD is making new highs above 1.19970, in case they decide to run the stops above the century mark, and when I place the order … BAM! … you’re filled buying at 1.19987. Wait … what? And by the way, this isn’t the first time this year this has happened … Ok, so I figure, well as long as I’m long, either fish or cut bait … break 1.20 or go down and let me lose a few PIPS … it chose the later of course … mistakes or errors almost never work in a trader’s favor. Oy vey. After a chat with tech support at Turnkey, found out the problem … shouldn’t ever happen again.

Other trades for very small profits, as the market went in our profit direction, but then came back quickly. All totaled up, looks like collectively down about $30 something … but no matter, it could be up $30, I don’t really care. I don’t want people to misunderstand, sure I want to make money, but since I started trading EURUSD, volumes have been small for a reason and we’ve either been on the cusp of Holiday markets, or now smack dab in them. Point is, there is more at stake these last few weeks than whether I made $20 that day; what’s at stake has been 1) trading pattern, 2) action at or near high/low of the day, 3) gap and spike action, 4) scumbag LP willingness to execute orders at the market with very minimal or zero slippage, and 5) trade attributes as the market shifts from Europe to the U.S. and patterns of behavior consistently seen. All of this matters, and I’ve used the time to our advantage.

Quite frankly, today, this week, the whole month of December, and getting us to this point where we have a solid, good, non-correlated market to trade, points to Tuesday of next week … start of 2018 … for larger volumes, much bigger profits, and staying in trades longer. The monies up ‘till now in December, won’t even be rounding errors for what starts Tuesday … that’s the context of why I say I don’t care about whether today is ± $30, cuz come Tuesday it won’t matter going forward.

It’s taken all of 2017 to find the correct market to trade … been right in front of my face the whole year, EURUSD being about the simplest pair on the board … over looked it, and that led me astray, which is my fault, and bluntly speaking should have been in this thing from the Spring on … the key now, is that the Holidays are over, and trading comes back to normal. In 2017, I battled the central banks in first gold, then the stock indices … wasted too much time in retrospect with them, cuz they are most definitely NOT the markets they used to be … then I had to handle 2 CAT 5 hurricanes, within 2 weeks of each other, that put me down for September, October, and half of November; 10 weeks on ‘Gilligan’s Island’ that was truly a nightmare; all the while markets move massively and I’m left sitting watching cloud formations wondering what’s happening in the world. Well, all that brings us to now … and it’s time, now that the correct market is FINALLY in play, to start the heavy lifting and bring about hefty profits … and while I apologize for the detours, I intend to do that, and the journey starts Tuesday. Onward & Upward!!

I went to Best Buy and [see my shocked face], the “whiz kid” couldn’t figure out the software bug on the spreadsheet … so he got his boss over and his boss says he can do it tomorrow [tonight] at 6, cuz right now he’s got 3 other things to fix before they close at nine; so, I’ll head over again tonight and hopefully, the level 2 boss can figure it out. He asked for my name; I told him, “George Costanza” from “bizarro world”. Anyway, when it gets fixed I’ll put it up. I’m outta here … until Monday afternoon mi amigos; please have a safe New Year’s Eve and don’t party too hard [yea right].

Have a great New Year’s weekend everybody!



Thursday, December 28, 2017


The insane asylum called the LP’s; “get your FX clowns outta here NOW!”

It’s Thursday; as everybody who’s a regular reader here knows, Christmas morning [Monday] saw the biggest theft of money in FX by an LP bank in trouble, specifically EURUSD, since October 6, 2016 when GBP got “mugged & held up”, and saved a bunch of FX execs a ton of mistress trouble going into the Holidays. And seeing the action in EURUSD since the 7-11 FX robbery, it’s been straight up the flagpole to the 1.19500 area. “Anybody besides me find all of this just too convenient a coincidence? Cuz in my eyes, it’s plain theft, pure and simple”.

Of course, we won’t hear anything more about this for a while … I’m guessing 3 – 5 years … but a day will come when the headlines break yet again of LP bank criminality … of course, nobody goes to jail or wants to see it end, cuz that means the “gravy train” is over … “for heavens sake, what’s a poor Schmuck regulator in Germany or the U.K. supposed to do with a “gold digger wife” that demands the “high-life” but his piddly regulator salary just isn’t cuttin’ the mustard? C’mon man, I need the cash”! … yea, sure you do … however, I’m sure there are some corporate & large hedge fund types ready, willing, & able to “go to war” with what happened to them, and I’m pretty sure the appointments at the law firms have already been lined up come 1/2/2018. And it’ll be “deny, deny, deny, … and then during discovery … we, in senior management, had no idea this was going on … after we pay the $100 million dollar fine, we can assure the public this won’t happen again”! Round up the usual scumbag LP bank suspects, namely Vampire Squid [Goldman], JPM, Wells Fargo, Deutsche Bank, Barclays, HSBC, & Bank of Tokyo for starters and start throwing some of these management shitheads in jail, cuz this just keeps happening over and over again with these scumbags.

Which brings me right to today’s trading … cuz the only … and I mean only, thing going on is LP banks “front-running” corporate order flow, necessitated by year-end accounting. And while the FX “whiz kid” on the desk is smooth talking the corporate exec on the other end about XYZ, Inc.’s need to buy a billion EURUSD, he’s frantically signaling others to front run the trade coming in about 30 – 45 seconds … when they’ve all loaded up, the FX “whiz kid” cuts to the chase and says, “right now … I mean NOW … I can do the order for you at 1.19410 [everybody is already long at 1.1936-ish with sell orders at 1.19410 … markets at 39 … only a 2 PIP premium … I’m takin’ a real risk here Jimbo, giving you this kind of deal, but you’re a good client … gimme the OK, and it’s done”. And after the “Ok”, our “whiz kid” forces some unfortunate orders through that show the market just traded at 42 or 43, so he can say to Jimbo, “Ok, filled 1 Yard [that a billion stuff] at 41, market last traded 43 … you got a great deal man”! “Hey, thanks whiz kid, talk later … bye”.  Then, of course, it’s time to pop the Bollinger and divvy up the $50 K they stole from XYZ, Inc. and laugh their collective asses off … until next time, which knowing these assclowns the way I do, could be in about 10 minutes.

And so, you’re looking at your MT4, and the market rockets up to 41, and then spends 20 minutes crawling down to 36 … and then BOOM! … within 3 seconds it’s hitting a new high at 43, and you’re saying to yourself, “WTF was that”? Now you know Skippy!

And, it’s been like that since I flipped the screen on at slightly before 3 A.M. EST … 3 -5 PIP spikes alternatively up & down, that happen in less than a second before reversing … it’s simply an endless “mugging & holdup” from all the usual suspects in thin Holiday markets, where they are taking extreme advantage of year-end corporate order flow from the likes of morons like “Jimbo”, who took a course at the JC on the company’s dime and thinks cuz he knows what a PIP is, that somehow he is “connected” to the FX trading world via our “whiz kid”. So, when you start seeing M1’s that make no sense, think Jimbo getting bent over the proverbial railing, cuz that’s what’s happening in real time.

Holiday markets this year are the worst I’ve seen them in at least 6 – 7 years; it’s not unusual, but the absence of anything out of Europe lately … with everything coming in New York … is a little strange and worth watching; I’ll be interested to see if this continues in 2018, cuz if it does it means heightened volatility. “Trust me, nobody screws institutional & retail orders better than New York banks … and given the chance, they will take the challenge, grab the ball, and ram the rock down your throat … count on it”.

I made one trade today for small profit … once I saw what the action consisted of and how the order flow was being handled, I didn’t need convincing to click the liquidate long button on a new high for the session at 1.19411 … fill was excellent, as I hit the button on the way up to 1.19414; when it backed off I executed … literally 2 seconds later market is at 1.19380 … yea, it’s that kind of day; utter “bat guano”, but it is what it is and there’s nothing we can do about it. I’ve been here now about 9 - 10 hours, and from the European open it’s been 10 – 12 lower and 15 higher … regular readers should recognize that tiny ranges like this mean total havoc with the algorithm … you got signals all over the place; half the time they are on top of each other … some work, a lot of them don’t, simply cuz there is no intraday volatility to play off of and take advantage. It’s just a bucket of hog slop. As we now work our way into the New York afternoon, EURUSD is nothing more than a coin flip, and quite frankly, I can’t see a helluva lot of action worth hanging around for and risking money … for what exactly? Cuz the way the market is right now, your reward is 2, your risk is 10; at some point somebody is gonna get disappointed, and like yesterday after hours of a crawling market higher, it’s all gone in 7 minutes. And if they keep rallying this market, come next week there’s gonna be a “reckoning” with the ECB, who unless they’ve changed their collective mind via Super Mario, they most definitely don’t want to see a 1.20+ EURUSD … so, even if they click off a few stops, where does it go in the NY afternoon? I just don’t see any upside here that warrants a long position, cuz I don’t think the market has any place to go in this Holiday market atmosphere. Anyway, this is/was my rationale for limited trading today.

I get done with outside cleanup yesterday, get to my computer after dinner, and what refuses to open? “Of course, why should anything work now? The whole day has been “FUBAR-ed”, why should this be any different”. So, I picked up the phone, called the “Geek Squad” over at Best Buy, and today at 6 P.M., I’m gonna let the techie over there fix it. He says he knows what the problem is, and fixed it before for others, so it should be Easy Peezee. So, PAMM spreadsheet tomorrow in the blog post. “I just shake my head anymore about stuff like this … it’s like the universe is saying I don’t have enough BS in my life at the moment, here take some … apparently, it hasn’t been paying attention”. Ok, I’m officially outta here for the day … I simply can’t take any more of this “tenth of a PIP” bank LP meat-grinder. Until tomorrow mi amigos!

Have a great day everybody!