Well, here we are, a different day but the same old story of “speed of light” trading preceded and followed [most likely] by … crickets. Notwithstanding Super Mario’s presser, which contributed to most of the day’s inaction … the world hushed in anticipation of what the Vampire Squid Alum would do.
And so, once again, the order book’s on both sides of the dealers books get wiped out via “protective” stops; those who lined up to sell USDJPY below 113, now watching their buy stops getting filled above 115. “Hey guys, I think it’s supposed to be the other way around”. Gold, for its part clicking off a few stops, but nothing major so far as I write; what I expect is the “bullion wall” of dealer sell orders is getting built between 1210 – 1215, and any USDJPY weakness is going to cap gold in this area, if and until 113 gets taken out again on the downside. Barring that, watch for the LP banks & bullion dealers to “paper cut” retail specs to death over the ensuing days with stop hunts to the downside that take gold below 1195 – 1190 for some good old fashioned “wipe outs” in price.
Today, for the first time in a while, we’ve got a slight decoupling of gold and USDJPY; normally they go inverse to each other. Gold not going down nearly as fast as USDJPY has gone up. As I said yesterday [I think], they don’t always correlate like you think or want, and trading one off of the other is dangerous.
Ok, Super Mario finished with his “blah blah”, where all 3 people on earth that have the slightest clue what he said will be writing for days about the subtle “tea leaf” readings from his remarks; meanwhile, markets can’t wait. Trade of the day via the scalper’s algorithm directly below [there were others, this just happened to be the best].
Now, I know what some of you Newbie, first time website visitors, are thinkin’: “10 PIPS, big whoop; show me the money –vegas”! Again, directly below the table you can ponder at your leisure.
7 PIPS a day makes you a millionaire within a few years starting with $1K. So, where’s the “money”? “It’s in the meat of the table, and instead of being a ‘guru’ or ‘analyst’, be a trader and treat this puppy as your own personal ATM; whaddaya think I been doin’ the last 30+ years”?
Sure, it’s fun being an analyst, but that ain’t gonna make you a millionaire; trading the algorithm will do that, if [and it’s a very big if] you have the patience & discipline to follow through on it via the rules. The meat of that table above can be your trading reality, but it isn’t going to happen with you sitting on your ass.
Two solutions; 1) join the –vegas PAMM in a couple of months when LMFX is ready [should be ready end of March] and let me do it for you with a very simple 17% of the cumulative profits, and/or 2) do it yourself. If you decide to do it yourself, first become totally familiar with the MT4 trading platform, demo the algorithm until you see the play money balance grow consistently, then open your account and … “just do it baby”!
It’s that time of day … beach beckons ... until tomorrow.
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!”