“What’s it like trading Brent? … stand in the middle of this!”
In all my years of trading, both on & off the floor, I’ve never seen anything
move so fast, with such viciousness, and then end just as quickly and reverse, as
Brent Crude Oil … “this stuff is insane, and only knows three states to exist in;
1) freight train running higher, 2) freight train running lower, and 3) dead in the
water ready to literally explode one way or the other”.
Yes, quite frankly I have told people for eons, that one of the keys to success as a
trader, is not looking back or second guessing yourself, but when it comes to
Brent, everything you know about other markets and how markets trade
becomes moot … this stuff defies all logic, runs faster & farther than anyone
can imagine in time frames that blow your mind, and then reverses quicker than
any other market on the planet … throw in some serious stop hunts, and of
course scumbag LP bank “scumbaggery” with new highs and/or new lows, and
you have a recipe for a serious ass kicking extravaganza on your hands.
It sits doing nothing, and then you blink your eyes, and it explodes up/down
and the train has left the station … good luck finding a place to get in and not
paying through the nose for the experience. It matters nothing what WTI is
doing … “hell, you might as well be trading July/November Soybeans in the
biggest Midwest drought in history, cuz both contracts can move 1) together,
2) opposite, or 3) one moves and the other is dead”. You pick your spots to
liquidate when momentum dies, before the turn in price, and then for maybe
10 - 90 seconds you look like a genius … then in seconds it explodes higher
while WTI is going down, and buy stops get hit, and you’re 40 cents away from
your liquidation price and sitting there asking, “WTF was that”?
I’m gonna say this again, cuz it bears repeating … “in all my decades of trading,
I’ve never seen a market move like Brent crude oil does on a daily basis [except
maybe Nat Gas in a winter freeze in October], and I’ve thought up ‘till now, that I
have seen just about everything there is to be seen … well, not true, cuz this stuff
rockets, goes “Thelma & Louise”, stops on a dime and reverses, and blows out the
other end with a vengeance, and literally leaves you with soiled big girl panties,
while you’re trying to figure out what the hell just happened … well, nothing
happened, it’s the way the market trades”!
Only one trade today … PAMM up between 0.1% - 0.2%. You have no idea
how disappointed I am, given today’s range … “no … really ... you don’t”.
Algorithm performed absolutely beautifully … to bad your dumb ass money
manager got “to smart by half” and tried to outsmart the market and then got
left at the train station as the market exploded higher … and of course, price
never came back to give another buying opportunity for over $1 a barrel
… “Yup, fucking brilliant … no wonder I’m not qualified to clean up elephant
shit at the circus, cuz I know better … and yet here I sit, not wanting to get long
again on the signal after my first trade cuz I “don’t like the action” … the Mrs.
says, “who cares WTF you think, make the frickin’ trade”!
Even the dog is lookin’ at me funny … in any event, it reminds me of my first
months trading my original floor trading algorithm … then, it took me about
3 months to finally make the trades automatically … relax, it ain’t gonna
happen again; I can take a hint. Quite frankly, though, in my defense I didn’t
see WTI & Brent trading like a back month pork belly spread … I’m
somewhat in shock they trade so differently.
It all leaves me tremendously encouraged for the days/weeks/months & years
ahead, cuz it’s everything you could possibly want from a market, and the
Brent algorithm 100% totally “nails it”; even with yesterday’s losers from 2
buy signals, if I had stayed with the third buy signal trade a few minutes
longer, yesterday would have been a nice winning day.
All told, today is nothing more than “tuition” ... an “opportunity cost” fine for
being a dumb ass … I can face it, I can admit it, and I can learn from it and
move on … it’s water off a duck’s back. I’m outta here, and it’s gonna take
more than one cold one to cool me down from myself … until tomorrow mi
amigos … Onward & Upward!!
PAMM Spreadsheet directly below.
Have a great day everybody!
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