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Wednesday, November 8, 2017

WHEN VOLATILITY & LIQUIDTY DRY UP: LOOK OUT!

“I saw that fill! I’d be sad too!”

My goodness, what a big bag of slop again today; 50 PIP range from the European open [so far], however 3 M1 down spikes accounted for 100% of that range! The first one 25 PIPS down, the second approximately 15, and the last one 10; and good luck with that sell stop fill if you happened to be long, cuz all of ‘em got filled at the bottom, they each happened in milliseconds.

“I’d like some cheese with my whine, please.” Every fill on every order today off the market by at least ¾ of a PIP, and that was the “good one”; the worst one, 1.8 PIPS. Thank you scumbag LP. Well, at least I’m not complaining about the sell stops; Gads, were those awful split-second fills, that jettisoned 5 – 10 PIPS off the low in literally 1 to 2 seconds. Still, nothing like being up money and short in a trade and within the “bat of an eyelash” it goes up 5 PIPS [my second trade]; welcome to no liquidity, coupled with another low volatility crap range. As I said yesterday, my volumes are very low right now for Monday, Tuesday, today; tomorrow sees some “Brexit” news on negotiation with the E.U., followed by a presser. I have no idea how this will affect the market, except to say it probably will in some way, shape, or manner. Friday sees some economic reports that should moves things some; until I see a “give & take” in the market, all higher volumes will do is cause more pain from no liquidity … and today was one of the worst I’ve seen on that front. If the regulators did their job, then LP’s would all be in jail. [I can dream, can’t I?]

I’d post the trades, but there really isn’t anything to see except 1) no action M1 ranges, and then 2) a spike; seriously, what’s the point, cuz there isn’t anything educational about getting ripped by the LP. All-in-all, 4 trades today, all on the short side; 2 winners, two losers, and the slippage on fills cost us. In all seriousness, losing a little over $50 before RT commissions, feels like a winning day … trust me, it could off been a lot worse with the horrific “up spikes” they threw into the market today. Sure, Cable went lower today … take a look at “how” … no way can you stay short through the violent up spikes; problem is, you literally have zero time to evaluate the position before yet another 5-10 PIPS against you is hurled your way.

Anyway, it is what it is, and doesn’t mean much in the scheme of things … tomorrow and Friday should see some decent price action … let’s hope so. And while Cable is “diddling”, EURUSD going nowhere, the other 3 markets, especially GBPJPY, and USDCAD again, had great algorithm moves without the BS inflicted on them by the LP’s in GBPUSD.

Spreadsheet updates are not working, so I’m having a problem getting the damn thing to work … again … I’ll put them up later tonight when I get it figured out. Onward & Upward!

UPDATE 7:34 P.M. EST: Ok, I figured it out; PAMM spreadsheet directly below.




Have a great day everybody!

-vegas

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1 comment:

  1. "I have no idea how this will affect the market, except to say it probably will in some way, shape, or manner."

    Congratulations. You are now officially qualified to work for Goldman Sachs as a market analyst. :)))

    Tough break on those trades today.
    However there's still plenty of opportunity to make things right before the end of the week!

    Let's see your scalpers algorithm rip the face off the upcoming GBP volatility!

    Go get em vegas!

    ReplyDelete