It’s Christmas morning for scumbag banks, as the stealing of money from
spec accounts goes into overdrive, just after release of the ECB interest rate
decision … then 30 minutes later, when the diversity hire, C. LaGarde, gives her
presser, the algos will be on nanosecond high alert for key words, to either
skyrocket or “Thelma & Louise” EURUSD.
Well, that escalated quickly didn’t it? … how many reversals today? … 2? … 3?
… more!? … and the criminality around the release of these policies & econ
stats continues to boggle my mind … almost without exception, banks win
“bigly & yuge” and specs get killed … I’m guessing after today’s slaughterhouse
of bid/offer insanity, there’s more than a shipload of severely injured or dead
accounts.
I was looking at GBPJPY today, but early on it became obvious Turnkey’s
scumbag LP’s wanted no part of trading, as the bid / offer spread got blown out
and stayed there for most of the post ECB trading, right into the London Fix … as
for EURJPY, you simply can’t trade it within about 15 - 30 minutes of the decision,
cuz the spread is blown out … today about 2.5 - 4 PIPS after the report, and when
you throw in slippage, there’s no way I step into this bag of flaming dog poo.
From a trading perspective, there was nothing there pre ECB decision
… afterwards, you couldn’t get a legit buy signal to save your life, or a legit sell
signal either … straight up … sideways … straight down … dead cat bounce and
fiddle fart around to the London Fix … there’s your DOUBLE REVERSAL ONCE
AGAIN, pretty much untradeable from an algorithm perspective.
One thing, though, is perfectly clear from today’s clusterfark, that the world will
attempt to call “trading”, but in reality was/is simply “ECB Roulette”, and that is
this simple fact … “There are very few markets that keep their respective
composure when SHTF … 2 that almost always do are 1) EURUSD, & 2) USDCAD
… Cable [GBPUSD] & USDJPY are “iffy” when it comes to maintaining a razor
thin spread, with sizeable jumps seen lately that heretofore have been absent
… quite frankly, it just depends on the day … EURJPY is the best cross, but as
we have seen today, it’s untradeabe when they blow the spread out … and let’s
not forget, the last 2 days I’ve traded EURJPY, I’ve not been at all happy with the
slippage [both entry & liquidation] we’ve received … absolute robbery if you ask
me, and these assholes should be in jail … but since we all know that ain’t gonna
happen, all you can do is move on and let the water pass under the bridge”.
All of which leads to an undeniable conclusion … “If you’re gonna scalp trade,
the ONLY place to park your screen is EURUSD, with complimentary markets
being USDCAD, GBPUSD, & USDJPY when the spreads are low … cuz quite
frankly, if EURUSD is “effed up”, none of the rest of the pairs is gonna be OK
… they’re all gonna be worse … and what ends up happening, is we all play
“Whack-A-Mole” looking for that market that gives us the CONSISTENTLY best
opportunity to make money … well guess what? … IT DOESN’T EXIST”! … WE
SIMPLY CANNOT GET BETTER CONDITIONS IN EURUSD, THAN WHAT WE GOT
NOW AT TURNKEY … I’ve looked extensively, and while some houses come very
close, none that I’ve found are better … meanwhile, while I’m waiting for EURJPY
to settle down and give us trades, I get to sit here and watch & listen to the Mrs.
& “Miss Gimpy” make a frickin’ fortune scalping EURUSD about 50 times today
… ask the Mrs. if she cares what EURJPY OR GBPJPY is doing? … Bwahahaha!
… and they’re lookin’ at me like I’m nuts! [the dog says “definitely YES!”]
I’ve said before, the “Vix Genie” ain’t goin’ back in the bottle, so I’m not worried
about EURUSD going “sleepytime” anytime soon over extended days and weeks
… given world affairs, the idiocy of the ECB, the Italian government mess,
fragmentation of bond yields with the PIGS [Portugal, Italy, Greece, & Spain], not
to mention Europe’s energy problems with the Ruskies, and it doesn’t add up to
EURUSD just sitting there in tight ranges … today’s range, albeit with the ECB
decision, is approximately 125 PIPS, with trips to both sides … all a scalper
needs in EURUSD IS ABOUT 40+ PIPS, and the signals are there … meanwhile,
I’m sitting here praying Turnkey’s scumbag LP’s can give me a decent spread,
and not kill me on slippage … this is something I DO NOT have to worry about in
EURUSD … seriously, I must be braindead! [again, the dog says YES!]
So, I’m back to EURUSD, where I’m gonna stay cuz there ain’t anything
CONSISTENTLY better on ALL fronts … we are really close to “breaking out” in
terms of results, cuz I got the algorithm and the necessary time charts to make it
all possible … we can never get that 100% all of the time BEST MARKET cuz it
doesn’t exist, so we go to the next best thing … and that “thing” is EURUSD, CUZ
IT MEETS THE REQUIREMENTS WE NEED FOR TRADING … 1) razor thin spread,
2) very low RT commission, 3) it stays relatively consistent through time periods
without the spread blowing out, and 4) it’s displaying decent VIX, allowing us to
make money … right now, there isn’t another market that can match all 4 of these
requirements … NONE … and it has led to disappointment via lack of trades
… well, THIS IS NOW “FIXED”!
No trades today, simply cuz the trading action post ECB in EURJPY was ALL A
STRAIGHT SHOT EITHER UP OR DOWN OR SIDEWAYS … trading? … what
trading? … it was either a wall of buying or a wall of selling, with no corrective
activity that allowed for entry of trades … well, no worries any longer … into the
EURUSD … volumes will go higher immediately, cuz EURUSD is one of the few
pairs that can handle almost any size, so that’s a big plus going forward … onto
tomorrow!
… outta here … “The future’s so bright I need 2 pairs of sunglasses 😎😎, and
my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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