THERE’S BAD & THEN THERE IS CRAP LIKE TODAY

BACK TO BASICS!

I was assured, by people who shall remain nameless, that conditions in GBPAUD were good; very little slippage on fills, no “being queued” on orders. Let me just say for the record, that is 150% bullshit; and for the LP in GBPAUD via Turnkey, you saw me for this day and I ain’t comin’ back. And folks, I want to be clear on this; I don’t mind losing money when I’m wrong, or if/when the algo has a bad occasional day [I’m a big boy and wear big girl panties, so I can take it], but I don’t like getting screwed “bigly & Yuuge” by scum banks either. Hell, no way could it be worse if I were trading gold … how could it be worse than GBPAUD when it goes up/down 5 PIPS in the bid/offer and nothing has changed in GBP or AUD via the U.S. Dollar?

So, my analysis stands from last night if you want to trade GBPAUD; as for me and the PAMM/MAM, I’m going to stick with Gold & USDJPY, and live with the consequences. I’ll be upping my volumes and trade sizes starting tomorrow, giving these 2 markets a hair more room to move; version 3 algorithm signals in both performing very well.

This is the second time, first with Assets FX about a year ago, and now Turnkey, where anything outside of major U.S. Dollar pairs and Gold [forget silver, it might as well be MXP/ZAR as a trading pair] turns into a disaster [not from the money side, but from the trading side] despite the lies and bullshit I get from people who should know better. And what also bothers me is that the spread on my screen widens out on the crosses after I get in a position by about ½ to ¾ of a PIP [GBPAUD today about 0.9 to 1.3 before I get in a position, and then 1.7 – 2.0 on my liquidation order box after I take a position; what the hell is that?]; and then come the mystery ticks [bid and offer] where the bid mysteriously goes down 5 PIPS in a blink of an eye, only to come back almost all the way to where it was 1 second ago; again, without Cable or AUD moving what’s the deal with that and where do you think my fill is if I hit the liquidate button? EXIT QUESTIONS: “Why can’t they just admit there’s going to be these problems listed above along with the definite slippage based on what they know from the scum LP that is there now? I’m certainly not the first or last that notices this crap, so why not tell me up front? You guys need that $2 commission that badly you have to lie to me? Oh … wait … I forgot … I’m not supposed to notice these things, I’m just supposed to click the buttons and STFU”.

All in all, I’m sick of being treated by brokerage houses like this,  and I haven’t even done any volumes YET!; the cold hard facts are they are ALL like this, so it’s not just Turnkey or some other outfit like Assets FX, and the only thing I can do as a money manager is 1) stick to the 2 major markets [Gold & USDJPY] where whatever liquidity there is, at least it’s better than getting jacked around by some LP in an FX cross, and 2) not get sidetracked with other markets. Quite frankly, after today, it’s clear to me gold is no worse [often better] than the crosses; if my risk isn’t any higher, why put up with the consistent horrible slippage from the LP? Even when gold gets a little shaky, it isn’t as bad as what I saw today in GBPAUD; I don’t see gold getting jacked around $0.50 - $1.00 per OZ. with nothing going on, and I don’t see the bid/offer spread widening when I have a position on. So for me, the issue today isn’t the couple of hundred bucks I dropped for all of us; the issue for me is, as the PAMM gets bigger, how do I deal with risk and not being a frickin’ target for the LP? I shudder to think what my fills today would look like if I was doing 20 or 50 lots; they rammed it down our throats with a stupid 1 lot, which shouldn’t be an issue, and I certainly don’t want to be the guy getting filled with size on the low or high.

Yes, gold has its problems; I’ll deal with them, especially the spikes. The version 3 algorithm has been putting in good retracement entry signals; I’ll also be concentrating my efforts on putting on good “free trades”, not simply scalping. When the daily ranges & HVALUES improve, I’ll be position scaling as well. All told, unless markets go completely to hell in a hand basket and die [like today, with a pathetic $5 range and $4.34 HVALUE as I write here at the Comex close], we will be OK and move forward.

This first month of the PAMM/MAM has been one of “experimentation”; 1) trying to figure out which markets the spreads are “true & accurate”, 2) which markets the stops are run most consistently, 3) which markets the various LP’s give the same bid/offer spread when you’re thinking about entering a position as they do when you’re in a position, 4) which markets contain or most frequently experience “mystery ticks” that can hurt a position, and 5) putting together a “game plan” that can handle larger orders and volume sizes without undue risk. Please don’t get me wrong here, I’m always looking to make money trading, but my PAMM volumes have been very low these first couple of weeks to get “the lay of the land” with Turnkey so to speak.

Regardless of what I think, or how bad some of these LP’s are in filling orders, Turnkey’s trading conditions are the very best in gold and USDJPY; we simply can’t find another house anywhere that comes close to the RT commission and spread in either of them; so, while I can’t change the LP’s behavior, I can concentrate my efforts in first gold, and when Yen becomes active, USDJPY.

Today’s donation to the LP in GBPAUD was not the fault of the version 3 algorithm; this loss rests solely with yours truly, where truth be told my opinions as to the “bullishness” of the trading action mid morning led to a small stop loss. Mea culpa plain and simple.

Starting our second month tomorrow, I’ll be doing bigger volumes in gold, and rather quickly eliminating the few hundred bucks the PAMM is down collectively; I don’t need any more information, I got enough to last me a long time. I’ll deal with the trading conditions in gold, whatever they are, and we’ll move forward.

PAMM/MAM spreadsheet directly below.

Have a great day everybody!

-vegas

OUR ‘TURNKEY FOREX’  PAMM/MAM  IS NOW OPEN AND OPERATIONAL; SEE “PAMM/MAM MANAGED 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”!

 

AWAITING ELITIST STUPIDITY

“ChairSatan Yellens inner voice inside the Mariner Eccles Building!”

If you want to mess with your kids, just give them a transcript of whatever brilliance the Fed puts out later today, and ask them to explain it to you; slowly, watch them twist in the wind wondering how adults can be so stupid. A random class of 8^th grade halfwits could do a better job than these assclowns; none of these Twits has ever had a real job, or ran a business, have no clue what people outside the faculty lounge think. They’ve all been on the government tit for so long, they think it’s normal to be paid 6 digits, work less than 10 hours a week, travel freely, get free chicken dinners, and talk in code that makes no sense. It’s all about manipulating outcomes for the financial elite.

And just when you think “elitist stupidity” is confined to the FED, it’s election day as well!!

What do you call a country with 13 million people and 28 political parties? I call it “Retardistan”, a/k/a The Netherlands, where the Dutch have to decide today if they want to give away their culture, language, and borders, all in the name of liberal PC, to a wave of parasitic immigration that wants no part of assimilation into Dutch society other than to eventually take the country over as their own. In a sane world, why would you vote for suicide? To ask the question is to answer it.

By all accounts, sometime a little after 4 P.M., New York time, things should start to heat up, and we’ll see what the liberal “do gooders” want for their country; personally, I’d hoping to see Wilders win, but knowing a large part of the Dutch population [these ain’t your Dad’s Dutch that fought the Nazis] is part of the “namby-pamby Fred Roger’s” brigade, they’re more than capable of keeping the “status quo” and remaining in their delusional “safe space” E.U. bubble.

No matter the outcome, the ramifications of what they do in “Retardistan” will reverberate for many weeks and months; in all likelihood, this means very good trading conditions in EURAUD going forward, with the French elections up in 2 – 3 weeks. “Oh, won’t that be fun”!

We’re just a few hours from the most telegraphed rate hike in history here around Noon New York time, and really, I have a hard time believing anybody actually listens to any of this pap any more; given their track record of abysmal policy decisions, they’re about to raise rates into a world economy that is stagnate. What they are really trying to do is manage outcomes, and we all know in the end how that’s gonna turn out don’t we?

I made an early trade; scalped it as the EURAUD market refused to move. I’m kind of surprised the cross has had as much movement as it did, although that’s not saying much given the conditions we have before the hurricane hits later this afternoon. Meanwhile over in “Yenville” … “Sshhh! You’ll wake somebody” … And gold? … like “The Great Winfield” once said when thinking about trading cocoa, “Go lie down somewhere until the feeling goes away”. All in all, EURAUD is only a couple of PIPS from where it was 7 hours ago. Directly below the first trade.

  

Ok, the Fed did their “thing” … yawn … same old BS, different day … 2 minutes of “speed of light” trading … now comes the crickets … on to the important news of the day coming in a couple of hours. This is completely retarded roulette trading … now we can sit here until we get the news out of “Retardistan”. By the way, anybody notice but me that the spread in EURAUD “blew out” to about 30 PIPS seconds before the Fed announcement? And you wonder why I sit on the sidelines for this circus act?

And notice also the number of times the MT4 platform went down for 10-15 seconds, only to come back on 5-7 PIPS away from where it was when it “suddenly & unexpectedly” went down; “gosh, amazing it goes out right at the top or bottom”! It’s not Turnkey’s fault, as LP scum is everywhere at every brokerage house, and when they don’t want the other side of your order, they turn the machines off for a few seconds. Their greed and business immorality know no bounds, and don’t think for a second they aren’t always looking for a way to screw us out of a nickel; cuz that’s what they do.

Ok, I have no idea when things are going to heat up; 4, 4:30, 5, … it’s the Dutch, so who knows; If I do any more trades today before rollover, I’ll post an updated PAMM spreadsheet, otherwise I’ll be back tomorrow.

PAMM spreadsheet totals directly below.

 

No Beach today … I’m be watching election results and wondering if “Retardistan” is a reality or is hopefully defeated … until tomorrow.

Have a great day everybody!

-vegas

UPDATE: Well, that was anti-climatic to say the least; it appears here at 4:30 EDST, that the Dutch have voted for societal suicide. If you’re Dutch, or originate from the Netherlands, you have my sympathies … you are simply delusional idiots if you think this ends well a few years out … enjoy your make believe “safe spaces”. And Ok, with that, trading can return to normal!

OUR ‘TURNKEY FOREX’  PAMM/MAM  IS NOW OPEN AND OPERATIONAL; SEE “PAMM/MAM MANAGED 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”!