“Sorry, it ain’t the same feeling!”
Somebody has hijacked the ponies … I went to the ticket booth and bought my
ticket, and when I got in, there was this line, but no ponies … where the hell are
they? Outside of last Thursday’s very late afternoon [after our close] hiccup
from the BOE’s Carney about maybe interest rates aren’t gonna rise after all at
the May BOE meeting, thus creating another Charlie Brown moment when
Lucy removes the football and panic sets in all around to the downside, there
hasn’t been a whiff, scent, a peek, or hint of a “pony ride” anywhere on the
horizon … it’s been nothing but endless “chop” and stop hunts.
Yesterday saw a complete short capitulation in USDJPY, where it was a
complete "shitshow" stop hunt on the upside … today, this market can’t even
put in a range of 23 PIPS after almost half the day is over, which tells you
everything you need to know about the state of the trade … there’s nothing
here but stops, ready to be brutalized by the scumbag LP banks, which of
course we already knew. Ditto for GBPUSD, where there literally is no trading,
simply a “lurch” from one price point to another, USUALLY only a PIP, but
sometimes 1+ PIPS as somebody discovers the wonders of slippage from the
HAL9000 [“Dave … Dave ... we don’t have a problem do we Dave? … I can
assure you all systems are running in perfect order and your fill is right on the
Which of course, creates a completely dysfunctional market in GBPJPY, where
this kind of market behavior feeds on itself and traders leave the arena for
psychological help at the bar next door to the office … throw in slippage, and if
I had a nickel for every phrase today from traders around the world of, “WTF
kind of fill was that?!!”, I’d be on the phone ordering my new yacht.
Pony ride? All we’ve seen so far is pony doodoo, remnants of ponies from a
galaxy far, far away … right now penny stocks are looking good compared to
this stuff. I’m telling you, this is a cruel “F-ing” joke. Overnight, I was looking
at hedge fund results since the start of the year, and just like last year, record
numbers of funds are “throwing in the towel” and closing their doors … we’re
in a new paradigm, where nothing moves until it does, and when it does, it goes
so fast and hard it literally takes your breath away … then stops ‘till next time.
And this first quarter [Q1 2018] has been brutal [I’m being kind] for FX &
commodity funds, where performance overall is the worst in over 30 years
… you have to go back to the crash of ‘87, and its aftermath, to see worse
results. USDJPY is the perfect “poster boy” for a crowded trade, and the blood
flowing from yesterday hasn’t even been counted yet … add this to the mix, and
it spells lower volumes, lower liquidity, and more bullshit from the scumbag LP
banks … cuz one way or another they’re gonna make their money, and take it
any way they can get it. My point in all this is simple: “stay focused, show
patience & discipline, and don’t let the market force you into “stupid shit”, like
upping leverage to make up for smaller ranges for example”.
Turning to today’s GBPJPY market … good grief, what a pile of hog slop this
is … nothing here driving this market early but GBPUSD buy stops on the
upside, after 5 straight days of “monkey hammering” … it comes “out of the
blue” and ends as quick as it starts, cuz there ain’t anybody laying in longs
down here in size.
A shipload of trades today … no way to sugarcoat this folks, PAMM down
about $350 or 0.6%, thank you very much scumbag LP’s, where slippage has
gotten totally out of control here … profitable trades down the drain, as fills on
trades just get creamed … and I do mean “clubbed”.
Seriously, I am beside myself with rage at these scumbag assholes who call
themselves “liquidity providers” … they are fucking thieves. One trade today, I
go to sell [liquidate] at 31, and get filled at 24; another trade I go to buy at 45
get filled at 48 … 2 minutes later I go to sell [liquidate] at 43 and get filled at
40.4 … all told, my guess is about $350 - $500 in slippage … totally bogus
mystery tick fills that are bullshit; all buys on THE FUCKING TOP OF THE
TICK CHART … ALL SELLS ON THE BOTTOM OF THE TICK CHART
… EVERY FUCKING ONE OF THEM, no matter what the market does. Of
course I’ve complained to Turnkey … what’s the point? … absolute scumbags
top to bottom.
Sorry folks, but I’m really pissed, and these assholes want me to trade bigger
volumes? … rrrrriiiiiggggghhhhhtttttt dirt bags, go piss up a rope. And the last
trade I made, I’m short, and when the price is on its LOW TICK at 151.790, I
click “liquidate”, and get fucking filled at 151.831 … “wait … WUT”?
… YOU’RE “HOOVER DAM” RIGHT WUT!… how do you make sense of
this bullshit? WTF can I do, I’m clicking liquidate when it’s on its fucking
LOW! And they fill me 3.9 PIPS off the offer on a fucking 1 ½ lot? “Oh sure
Turnkey, sign me up for 10 & 20 lots … what’s the worst that can happen on 2
million stuff, when your fucking scumbag LP’s clean my clock on a 1 ½ lot for
almost 4 fucking PIPS, AS WELL as the shit fills all day long including the one
you clipped us for 7 PIPS”?
This is totally unacceptable folks, and I don’t care what kind of “pony rides”
they might have; it doesn’t matter when you get robbed on every damn fill!
… and I mean TOTALLY UNACCEPTABLE! … and what pisses me off to no
end, is that I’m not doing “stupid shit” here … I’m trading like I’m supposed
to, and they’re taking me out back behind the barn and before shooting me in
the head, I get the luxury of unsolicited LP bank sex, bent over the back fence
nice and neat . Granted, the money isn’t huge … still only a few hundred bucks
and a fraction of 1% of equity … but before I go higher volumes, I got to know
how the rules are being played … And from what I’m seeing day after day, first
in the stock indices, and now in the more volatile FX crosses like GBPJPY here
this last week, it’s pretty fucking obvious you can’t scalp these markets cuz the
damn banks aren’t going to let you, and they don’t give a shit what the
bid/offer looks like on your screen … “fuck that … we’re gonna fill you where
we want to and there isn’t a damn thing you can do about it”! Sure there is
… I don’t need to trade you!
And after thinking about it for a few minutes after that last unbelievable shit
fill, what I’m going to do is go back to trading GBPUSD; it’s settled down to
the point where it’s tradeable, and it’s more volatile with better ranges than
EURUSD. I’ll be using the “zone charting” techniques I discussed, and I’ll keep
the same times, which is about 06:00 - 18:00, and if it’s interesting after 18:00,
maybe a little longer. I’ll keep the GBPJPY M30 history, and continue to update
it every month, and this weekend, I’ll do the same M30 for GBPUSD, from the
start of 2018.
I’m the kind of guy, that doesn’t take getting “cheated” kindly, and if the
asshole scumbag LP’s aren’t going to make honest markets in the stock indices
and/or the FX crosses, I’m not gonna just sit around and take it … we’ll move
to another market … that’s the whole purpose & premise behind “The
Magnificent Seven” to begin with; we’ll trade where we get treated fairly, and
where there is the necessary volatility, but I’m not going to let these assholes
screw us with slippage that would make Vito Corleone blush if he were alive
today. “And yea HAL9000, I got a real fucking problem with you”!!
So, it’s back to GBPUSD, and quite frankly, it’s gonna take a miracle to get
me away from this market again … I think I’ve proven that the only 2 viable
markets to trade and possibly scalp are GBPUSD & EURUSD … the rest have
bogus, fake bid / offer screens, and the slippage is unfucking believable, even
when there isn’t anything going on in the market … not that you can’t get it in
these 2 pairs, but it’s manageable outside of market moving news. “I’m pretty
damn sure if I was buying Cable to liquidate, that I’m not gonna get clipped for 7
PIPS the first time, and 3.9 PIPS the second time, and that’s my point … screw
these guys in everything else”.
And yes, I’m pissed, but like I said, the money is small and will be recovered.
You “live & learn” with these assclowns, and like I told Turnkey management,
“I don’t want to ever here about tight spreads with tier 1 liquidity providers
… your LP’s in stock indices & FX crosses are THIEVES, and should be in jail
… they suck, and quite frankly, you telling me “everything is F-ing AWESOME
baby!, is utter bullshit. And to put an exclamation on that, your credibility is shot
to hell as well, cuz you were the clowns that told me they were good LP’s … yea,
that’s a fucking joke and you know it, so from now on, keep your opinions to
yourself cuz I’m not interested. Your dollar pairs are OK, cuz they know they
can’t fuck with those and stay competitive with the rest of the FX universe… well,
guess where we’re gonna be from now on dirt bags”?
So, it is what it is, and I’ve “learned” enough so that my backside is sore and I
can hardly sit down or walk straight … we’ll get on the profit path tomorrow
and move forward, and Thursday sees U.K. GDP numbers early [4:30 A.M.
EST] … the only positive thing you can take away from bullshit like this today,
is to learn and not repeat what happened today, and to put it behind you, cuz
there isn’t anything that is gonna change the outcome one damn bit. “So, on to
GBPUSD, and the LP banks in GBPJPY can kiss my ass goodbye, and don’t let
the door hit you in the face on your way out … I’m not leaving angry, just leaving
…. I hope you starve to death”! And on that cheery note, I’m outta here for a
“cold one” … until tomorrow mi amigos … Onward & Upward!!
I’ll have the PAMM spreadsheet updated sometime tonight, and post it here.
Have a great day everybody!
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”!