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Thursday, February 23, 2017

ALGORITHM MISTAKES

“Go on … I dare you … ask ‘em.”

Everything about today was weird, right as I started the day; HVALUES as low as I’ve seen them in gold; and with nothing to show from Asia & Europe, the bullion dealers have had their way with stops all over the place. It’s been a very messy trade day.

Today’s trade [the rough news] was an algorithm nightmare in gold; every algorithm signal but one turned to bat excrement in a hurry; I tried to give the trades some room, but the market wouldn’t cooperate. I’m not gonna sit there and watch gold drift [or even rocket] against me more than a buck and change, cuz I know what can happen, so I got no choice but to pull the plug on the trade. The last 3 gold trades saw the short term trend change rather quickly, and once the signal is given I don’t have any time to think about it, I just have to take it … and then boom, there it goes down the drain at the speed of light.

All in all, down just over 1% & change for the day, and attempting to figure out two things; 1) why the algorithm signals went badly awry, and 2) why my orders are getting queued instead of instant execution and every single one of my fills off the market very badly. Now understand, I’m not crying over losing 1% and I’m not blaming crappy fills [but they didn’t help either], trading is what it is and it comes with the territory; the 1% and change can easily be made back, but what bothers me the most is the market action where I don’t get an algorithm signal until the end of a move, and from there it’s bad news [and was]. And, in case you’re wondering, it wouldn’t have been any better in USDJPY.

[The good news] … I have a damn good idea what the problem is [especially in gold], and I’ll be correcting the issue; instead of explaining what needs to be done, I’m just going to show you instead by example going forward in the days ahead; in hindsight, it should have been obvious [but wasn’t]. Sorry for the small loss, but it happens once in a while … while I may from time to time suffer a paper cut or two, I don’t do big hits … onwards & upwards we will go.

A couple of other notes for today; 1) I’m still having some Windows 10 problems with my version of Excel [I think cuz it’s so old, I need to upgrade it and will], so I’ll be updating the spreadsheet after tomorrow’s trading for not only today but tomorrow and the week as well, and 2) now that the PAMM/MAM has started, look for blog posts in late afternoon New York time after the gold market has basically closed or slowed down. I’m outta here … until tomorrow.

Have a great day everybody!
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