“Beware the scumbag LP banks serving up a pile of shit!”
For most habitual losing traders, they have no idea the efforts of the scumbag
LP banks to manipulate your behavior … it’s the modern form of manipulation
cuz you’re the one clicking the buy/sell buttons, not them … you’ve simply been
“conditioned” to respond when they call your name … and like good little sheep,
you don’t disappoint and continue to buy rallies and sell breaks, hoping the
“trend” will somehow bring you a small profit before they run your stop
… sound familiar?
Cuz if you don’t recognize what’s really going on, you don't have a snowball’s
chance in hell of long term success … sure, any Chimp can walk up to a slot
machine and hit some kind of winner, does that make him/her an expert at slot
machines? … fact is, scumbag LP banks USE YOU and millions of your friends
in trading to bail out of longs at the top and cover shorts at the bottom, cuz
they’re the ones on the opposite side of your order, and they count on all of you
collectively to always be there … and guess what? … they always are.
First, it takes understanding how this game is played, who the players are, and
what your role in their eyes is exactly … and it ain't to be the winner, it’s to be
the one who supplies the money … “Oh, don’t like that idea? … then stop being
the Chump at the poker table and wise the hell up and realize what is really
going on” … there is no such thing as “fun-durr-mentals” … only dopes believe
they exist, and bigger dopes that believe they know what they are … trust me,
you don’t know, and can’t possibly measure in real time the changes even if you
had 100% off all the variables … Secondly, all that matters is who’s long and
who’s short NOW, and who is most vulnerable to getting their cashew nuts
broken in half … as I said yesterday, there are things only the scumbag LP
banks know that we don’t, and they use that knowledge to get you to do things
you don’t want to do, but somehow consistently do anyway … a radical
reorientation of your mindset is needed to turn your trading ship around in a
different direction.
As I have said many times on the blog posts, many people have the distorted
impression that professional floor traders back-in-the-day in the pits, were
somehow financial genius material … nothing could be further from the truth
… more than half of ‘em were whacked out 99% of the time on coke or alcohol,
and collectively a jar of pickles would have a higher IQ … what they had was
DISCIPLINE, cuz without it they’d be a part of the midnight janitorial crew in
some office building downtown … in other words, they bought into the concept
of “buy at 1, sell at 2, and I don’t give a fuck about anything else” … do the
concept right, and nothing else matters, cuz money flows, life is good, and it
doesn’t matter whether any market is in bull, bear, or going nowhere.
Trading is simple … I never have said it was easy … the vast, vast, vast majority
of traders who go back to the “Pudding Business”, are back there for one [or all]
of the following reasons; 1) they can’t follow directions of their trading model or
algorithm, 2) they do “stupid shit” like doubling, tripling, or quadrupling up
losing positions until they buy the top or sell the bottom, 3) they use too high of
leverage, and 4) they FOMO [Fear Of Missing Out] the shit out of whatever
market they trade and go apoplectic if it moves up or down and they don’t have
a position … pick any of the 4, and failed traders will almost always have one or
more of ‘em as a glaring weakness in their trading.
Whether anybody likes it or not [and I don’t!], we live in a trading arena era of
unprecedented corruption, blatant government manipulation of markets, and
complete 100% control of the trading process by scumbag LP banks … this is
without doubt, the most unfriendly market environment ever seen in the history
of markets, and in some cases even to label anything a “market” is a gross
miscarriage and bastardization of language … too many of these “markets” are
simply Ponzi schemes run by government [cough, SP500, cough], and others
[cough, gold, cough] corrupt beyond description.
Of course, the banks will vehemently deny these assertions, but court
documents from recent civil cases from those fucked, tell a much different &
true story, and that mirrors what I’m saying … even our own Justice Department
calls JP Morgan a “criminal enterprise” … the only reason top management
[calling J. Dimon] isn’t in jail is cuz they’re TBTF & TBTJ … and so it goes.
Another day in Cable, 8th day in a row stuck inside the range from 2 Friday’s
ago, with the attendant bullshit of the “Flying Wedge of Death” [FWD] ever
present in all of it … today another pile of shit, where Asia trades, Europe goes
straight up, and the U.S. session is what the U.S. session almost always is,
which is “chop chop” let the banks get rich, and fuck traders left & right the
entire session … today nothing different than the last 7, which sees absolutely
nothing but panic up / panic down and not much in between … good luck, cuz
there is no market here that I can see outside of Europe trading … the U.S.
session a complete joke.
No trades today in the TURNKEY PAMM / MAM.
We had 3 great setup buy algorithm signals today … only one problem … every
“Hoover Dam” one of ‘em got blown through in price like a chainsaw through a
butter stick … slippage on fills would have been anywhere from 7 - 8 PIPS on
the very low side, to as many as 15+ PIPS on the high side if I had clicked the
button … I’m not here to be somebody else’s “buy fuel” … screw that … sit back
and wait for the next one and hope they don’t fuck with us like they’ve been
doing now since we’ve been in this tight range 8 days running … some days all
you can do is shake your head in disbelief at the criminality & corruption in
these markets … it’s not just “stock bellies” & gold, which are rigged markets
for the clueless, it’s FX as well … think like a scumbag bank and you’ll do well
… think like a player at a craps table in Las Vegas and you’re toast … it’s as
simple as that.
Onto tomorrow, and hopefully conditions will be better, as trade should pick up
going into a 4 day Easter weekend … until tomorrow mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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