It’s been a wicked last couple of days, especially those long gold & short USDJPY; practically the entire universe was of the opinion 1) stocks were going to collapse, 2) gold was going to soar [even though a certain somebody who shall remain nameless told you the “bullion wall” was getting built at 1210 – 1215 by dealers], and 3) USDJPY was on its merry way to 111, where all the shorts could cover and call it a quarter. “Err, not quite”.
Some things never change; and one of these “things”, is that when everybody thinks something [like traders in a pit who can’t wait to buy tons of stuff on a rally, or sell stuff in the hole on a break, and then stand there and tell you the losses are “Ok”.], most likely outcome is panic in the opposite direction. “That’s why we have the algorithms folks, to keep your donkey out of trouble; do you think I developed it for giggles?”
And so the USDJPY story goes again today, as last night’s attempt to go lower failed miserably on the Chuckleheads in Asia trying to take gold back above 1205 [which failed], with the ensuing fast selloff just as New York traders are coming in to the trading day. It’s like every single day is another installment of the bull/bear storyline, with plenty of panic to go around as USDJPY jumps and plummets with every 50 cent move in gold. Quite frankly, I don’t care what they do with it cuz the scalper’s algorithm keeps me on the right side of the market with profits, and if I keep my trading to the busiest times of the day [11:00 – 23:00 LMFX server time], have patience & discipline to wait for the algorithm signals, and then execute what I’m supposed to do, then I know at the end of the day I have the necessary profits. Everything else is secondary and not important.
Directly below the trades today in USDJPY via the scalper’s algorithm.
EXIT QUESTION: When you make about 1% a day [on average], what’s your return on capital at the end of the year?
“Admit it Flounder, you’re stumped!”
Well … at the end of the year you would be up approximately 1,100%. And how much is 1% using 10X leverage? … About 10 PIPS. And so, let me post this again today, so you can see again what simple math tells you where you will be weeks into the future with your trading account. Directly below the “roadmap” to get you out of the “Pudding Business” and “escape to success”. For your part, all you gotta do is follow the algorithm; or, if you prefer, let me do it for you in our LMFX PAMM [17% incentive fee only on cumulative profits], which should be ready in about 8 weeks or so [last I officially heard from management].
I’ll grant you your opinions about trading; what I will not grant you is that the scalper algorithm trades are “chump change” or somehow not worth bothering to bend over and pick up; if your attitude is “well yea, anybody can do this … really it’s only 10 PIPS [maybe more if the market cooperates in a free trade], but I’m swinging for the fences”. MY SHORT TO THE POINT RESPONSE: “If you think roughly $5 million Dollars in 3 ½ years, starting with $1,000, is not somehow ‘significant’, then I can’t help you. If it was easy, you’d have done it already”.
The “keys” of course are 1) not getting “whacked” with large losses, and 2) hitting your weekly PIP goal. Given the fact the market gives you roughly 10 trades per day with the signals and the success rate is between 70/30 – 80/20, all you have to do is “do it” and the PIP goal is pretty much there every day.
Now, I fully realize there isn’t one of you in 10 million who are going to let $1K build into $5 million over 3 ½ years without significantly increasing the quality of your lifestyle, and I’m not suggesting you let everything “ride”; at some point, you make the decision that the money in your account is the necessary means for income, and that’s when your life changes. Where that’s at is different for everyone, and it makes no difference if you do it yourself, or let me do it via the PAMM; it just depends on how you want to handle it.
Beach beckons … until tomorrow …
Have a great day everybody!
OPEN A DEMO AND/OR LIVE ACCOUNT [CHOOSE THE “ZERO ACCOUNT”; REFERENCE ID# 6952 WHEN OPENING YOUR ACCOUNT] AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”