Well, that was an interesting 60 seconds; been this way for over 30+ years, so why traders are surprised at getting mugged with fills and stops is beyond me. You can take all the LP bank criminal activity for the week as a whole, and it can’t equal the 60 seconds either before or after the NFP fairy tale numbers; it’s an open invitation to give money away.
But before all this normal insanity, the markets were pretty quite from Asia & Europe; directly below the algorithm trades in GBPUSD from before the NFP.
A couple of good scalps, but nothing really happening in the marketplace except some drift lower.
After NFP, I was looking for one good opportunity; directly below, the last algo trade before the afternoon chop sets in and turns this market to crap.
On Monday, I’ll be posting a new file over in the “Download Links” section in the right hand column; “PAMM Money Management Program”, where I’ll write about the details of our new PAMM. You can either download the PDF or view the document online. Tons for me to do this weekend, so today’s post will be shorter than normal; I’m gonna need every minute of the next 2 days to 1) archive exhaustion charts for January, 2) complete the PAMM doc, and 3) make some cosmetic changes to the website.
Exciting times are ahead for us … hope you will be a part of it … if you’re not trading on your own, the money management program will be a perfect fit for just about anybody; 1) 17% incentive fee only, no other fees, 2) very low minimum to get started, and 3) lowest “net cost” [spreads and round turn commissions] for trading you have ever seen [especially for managed money accounts, which typically have much higher trading costs]. What this means for you is simple: more money in your pocket, and the quicker you “escape to success”.
I’m outta here … beach beckons for this afternoon.
Have a great weekend everybody!