Sometimes you just gotta learn the hard way … nothin’ personal against the YEN
as a trading pair, but it is as deceptive & devious as they come … more than the
other 2 pairs that make up the “Big 3” dollar pairs [EURUSD & GBPUSD],
USDJPY is rife with problems … viz., 1) “gap pricing” far too often even in
normal situations outside of news, 2) exaggerated spikes from Hell both up &
down that obliterate stops and pretty much guarantee your buy stop will be filled
at the top and/or your sell stop at the bottom of any respective m1 spike, 3) it has
cross implications from the entire FX space, where anything / everything is
crossed against the YEN in the denominator, making it “fair game” for abuse
from many different angles, and last but certainly not least 4) the value of a PIP
is far less in USDJPY than it is in either EURUSD or Cable … in Cable, if you made
10 PIPS on a trade, that same trade in USDJPY would have to be 18 PIPS.
Looking at the current [as of today’s close] 20 Day Range MA for both,
USDJPY = ~ 117 PIPS, and GBPUSD [Cable] = ~ 92 PIPS ... Hell, even Jethro
Bodine can see Cable is a richer trade cuz it earns more in $$$ for each PIP
… approximately 1.8 times more! … granted, nothing in FX is a perfect pair to
trade, cuz they all got warts & blemishes and without makeup they can be
hideously ugly … and there have been times where Cable is nothing more than
fodder for POLS & Apparatchiks looking to grease the mistress funds, as they
did during the 5 - 6 years of BREXIT bullshit, when there were almost daily gaps
all over the place on “blah blah, yada yada” from some PIE HOLE looking for 15
minutes of news fame on financial MSM … thankfully, that shit is over … so,
YEN can GTFO!
Yesterday’s big mover was XRP [Ripple] … almost doubled in price, and that
coin should be looked at for trading at IQCENT … a good alt-coin for smaller
accounts where BTC is just too “Hoover Dam” expensive with only 10:1 leverage
… will the SEC appeal? … probably, although they should disappear and go
watch midget porn like they’ve done for years … not my analysis, that comes
from the GAO [Government Accounting Office] where some years ago they
found rampant porn watching from SEC computers … who’s surprised?
Is this some kind of sick joke? … I switch over to Cable for the PAMM and for 7+
hours I got what? … a 25 PIP range? … more like 10 - 15 PIPS that’s tradeable
… did I land in the “Twilight Zone” by mistake? … and yea, it is Friday, and yea
all week FX has been rock n’ roll, but still … all you can do is shake your head
and laugh … with that pitiful of a range, even the super scalper algorithm has got
its limits, although a quick look at signals and it wasn’t that bad … surprisingly
to be truthful, I thought it would be worse … oh well.
HOLY BAZOOKAS BATMAN! … overnight, the number of emails I’ve gotten over
the Super Scalper Algorithm has got me a little shocked … yea, I know it works!
… as I said, “The Mrs.” & Miss Gimpy have been tearing up the NDX100 like they
own it! … below, just a quick screenshot of this AM in the NDX100 … 8 trades, 8
winners, I mean whaddaya want?
And the reason it works is twofold IMHO … 1) the “88/6/6” paradigm in which it
functions & operates, and 2) it’s got excellent VIX, a reasonably tight spread, and
it’s got a ton of chumps who love to trade it! … and Chumps love to FOMO and
then panic [or vice versa], and that spells opportunity. In some ways, it’s like
Bitcoin, but the institutional side of the NDX100 is strong … and the kicker as far
as I’m concerned, is the fact that at IQCENT the marginable leverage is 500:1
… and if that ain’t enough for you, get psychological help … of course, can’t trade
the NDX100 at Coinexx, cuz if you do you’ll get mugged, robbed, and violently
raped on each and every order … simply horrific order filling and they should be
in prison cuz they’re thieves … so, you can’t trade it there.
Quite frankly, if you know you’re a scalper [or “super scalper”], just take the mql4
code for support / resistance levels and put them on the Super Scalper Algorithm
… this way you have good levels to see support and resistance … and to that end,
this weekend I’ll be publishing the “Super Scalper Algorithm” and include the
appropriate mql4 code for somewhat lower levels of VIX than would normally apply
to day traders … Initially this weekend I’ll get the NDX100 & GBPUSD done, and if I
have time, other markets as well … it’ll be out Sunday when I publish the blog
update.
With the leverage available, the fact that pretty much all of the good tradeable
action is gonna come from 9:30 AM EST - 4 PM EST, and the 20 Day Range MA
right now is at ~ 200 index points, it’s very hard to find anything better to trade
under the circumstances … yea, when Bitcoin “moves” it’s a beautiful thing, but
the key word there is “moves” … when it doesn’t it’s a different story … the
NDX100 ALWAYS has interest, cuz the world LOVES TECH STOCKS!
Today’s action in Cable about as bad as I’ve ever seen it for a non Holiday day
… I mean seriously, 20-ish frickin’ PIPS? … No PAMM trades today … Friday!,
what can you say? … over at IQCENT, “The Syndicate” had a couple of very early
Bitcoin trades, but after the consumer sentiment report at 10 AM EST, I switched
over to the NDX100 … “The Syndicate” UP APPROXIMATELY 0.4% … given the
run this puppy has had this week [the best in 3 years for a week], I lightened up
volume some cuz it’s Friday … back to normal come Monday … blog update on
Sunday.
… 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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