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Tuesday, March 6, 2018

STRAIGHT UP OR STRAIGHT DOWN?

“Welcome to FX … one way runaway train tickets on sale every day!”

Hang around FX markets longer than about half a minute, and it should 
become obvious to anybody paying attention, that “position trading” any of 
this crap is for the birds … and quite frankly, try telling the “lovely, gracious, 
& beautiful Mrs.” that the markets aren’t “cooperating”, so therefore your 
shopping and spa trips have to be cut back, cuz I’m not making any money; 
I’m sure you understand … “wait … what”?“you want to discuss SHTF? 
… this is SHTF man”! And so, it dawns very quickly on professional traders, 
that come bull, bear, pig, or whatever, you better find a way to make money 
under any and all circumstances … from my days on the trading floor, it 
usually took newer traders less than 5 minutes to figure this out.

Which brings me to this “gem” of a day … “oh, looky here … why Kim Jong 
Whatever wants peace … uh huh, and the markets are buying it hook, line, & 
sinker. Forget the fact that he’s a lying, POS scumbag and trusting him is 
foolish … like I said yesterday … markets aren’t seeing reality, they’re seeing 
what they want to see”! And color me just a tad skeptical, but this news from 
the “Norks” makes perfect sense when you combine it with yesterday’s melt 
up in the SP500 futures at the European close … my money says Kim was 
buying futures beforehand, right along with EURUSD, and then after the 
news hits this A.M., stands there and sells it back to the world … nice work 
if you can get it!

And so, here we are this A.M. with EURUSD trading slightly north of 1.24 
… remember 3 or 4 days ago when you couldn’t get an uptick to save your 
life, and the market was struggling in the 1.21’s? And how many traders got 
played like a violin the last few days? My guess, is more than a few … with 
the ECB meeting  in less than 48 hours, and a history of not “delivering” the 
goods the market wants to see, how much sense does it make to 1) trust the 
“Norks” that they are sincere, and 2) trust Super Mario to deliver a higher 
EURUSD? “Well, if you’re buying that slop, I got some wonderful Haitian 
swamp land to sell you that’s perfect for development … cheap”!

If the last few weeks in EURUSD aren’t enough to convince you, nothing 
ever will … right along with every other MT4 market, the emotional swings 
from extreme bullishness to extreme bearishness have been on display, front 
and center. Simply scan the financial rags and there is no shortage of dire 
forecasts for everything on both sides! From $10,000 per Oz. gold right around 
the corner, to EURUSD @ 1.40 or 1.00, take your pick. [I’m hoping not in the 
same week, though.] But, what remains constant? … what criterion remains 
the same no matter the situation, no matter the scumbag LP’s, & no matter the 
price? … “that’s right Skippy, the “setups” for trades pretty much always remain 
the same, and if you do them right and show patience & discipline, your success 
rate at trading will go exponential upwards”.

Turning to today’s market … Just when you think we can’t be on another one 
way roller coaster ride, here it comes, thank you very much Kim Jong Un. Of 
course, like I said above, it all makes sense once you understand the dynamics 
his protege Putin taught him from his KGB days trading gold … and if you 
somehow think I’m being sarcastic, trust me, this happens all the time in these 
world markets, where the only rule is, “there are no rules”. Truth be revealed, 
this is one of the main points against position trading anything … not only are 
your losses “bigly & yuge”, but get two or three of these roller-coaster rides to 
go against you in succession, and your equity could easily be down 30%+ in 
short order … now what?

And from a completely “dead-in-the-water” corpse of a market at 10:30 server 
time, instantly we get “to the moon Alice” and some volatile trading action 
… quite frankly, I was sitting here wondering, before the Kim news,  how the 
hell EURUSD was going to move ± 5 PIPS and show a pulse … well, I can stop 
wondering now.

I made two trades today … PAMM up just a few bucks shy of 0.2%.

“Setups” for my trades today weren’t classic “textbook”, but they had “high 
probability of success” attached to them … the hard part of course, is sitting 
while price continues to go higher with no break in sight, but as all of my 
longtime readers know, buying rallies … especially those on “news”, is the 
quickest way to the “Pudding Business” there is … it doesn’t matter if you 
make money on any particular news event, cuz in the aggregate over time, all 
you do is make some money to go towards bigger losers when they show up; 
and as we all know, that money isn’t there when the Reaper does in fact show 
up.

It’s Noon in New York, and EURUSD is hanging slightly above 1.24000 … I 
can’t say as I know why it’s up here, what with the ECB clown show within 48 
hours, but we keep swinging back & forth between extreme bullishness & 
bearishness that is capturing some big money accounts as its victims, right 
along with a shipload of retail specs I’m quite sure … like most of the previous 
days, once the stops have been cleaned out, there’s little left but “crumbs on the 
table” as far as moves are concerned for the rest of the day, as the scumbag 
LP’s chop the market to pieces with slippage and mystery ticks, both up and 
down. 

I’m in the process of writing another addendum to “The Scalper’s Algorithm: 
The Final Solution”, and it is designed specifically for aggressive scalpers 
… most likely looking at 5 - 10+ trades per European & U.S. sessions. Here, I 
address via examples, the list of “bullish setups” I use in trading EURUSD 
… whenever EURUSD goes into a “bear market”, I will do another addendum 
for the bearish case. There’s a lot more to the Addendum than that, of course, 
but the reason I’m writing it is to give you specific guideline “setups” that you 
can use in your own trading, instead of simply giving the soft & fuzzy advice of 
buy breaks in a bull market”. I’m hoping it will be done by the end of this 
upcoming weekend, so I can post it Sunday night … if not, the following 
weekend it will be released and published over in the right-hand column under 
“Download Links”. 

There’s a reason the Algorithm is labeled as the “Final Solution”; under even 
the most severe and trying circumstances, for example the “Flying Wedge of 
Death” [FWD] and “doji” candlestick daily charts, you have a high probability 
of making money … if you want and need “consistent & stable” money making 
trading opportunities in all market conditions, then this is the Addendum for 
you. I limit the discussion of trading to EURUSD, but any of the major U.S. 
Dollar pairs could also be applicable [GBPUSD, USDCAD, USDJPY, 
AUDUSD, & NZDUSD], if they have sufficient intraday volatility exceeding or 
on a par with EURUSD. [Note: pretty much all of these pairs have tight 
spreads of less than ½ PIP, so cost of trading isn’t that big of a deal if you trade 
something other than EURUSD.]

EURUSD trying desperately to hang onto the 1.24 handle, here in the NY 
afternoon, but I have a hard time going into Thursday’s ECB meeting if they 
take this stuff higher tomorrow … we’ve seen this rodeo clown act before, with 
the straight up action over multiple days, and then … BOOM! … down it goes 
like “Thelma & Louise”. “Is it too much to ask the Chuckleheads in Asia to take 
EURUSD lower again tonight into tomorrow”? We’ll see what tomorrow brings, 
of course, but one thing is for sure 100% gonna happen … and that is that the 
“setups” will be there to take advantage of and make money … how much and 
when, it depends on what the market does, but be there they will be for us to 
profit. This day is over … I’m outta here … until tomorrow mi amigos 
… Onward & Upward!!

PAMM spreadsheet directly below. 


Have a great day everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND
OPERATIONAL; SEE “PAMM/MAM MONEY PROGRAM” IN
“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN
FOR DETAILS [VIEW ONLINE AND/OR DOWNLOAD] AND
START YOUR JOURNEY FROM WHERE YOU ARE AT TO
“ESCAPE TO SUCCESS”!

  
  




 






 

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