CABLE: WHERE VOLATILITY GOES TO DIE

 

“If you trade Cable, you’ve had this look alot the last 5 weeks!”

Is anybody surprised, that the Friday before Memorial Day Monday is a bust 

and complete waste of time? … once the U.K. GDP numbers “yawned” the 

market to sleep at 4:30 A.M. EST., what else is left but some “stop hunting” via 

spikes up & down, shit fills, and a market that can’t move? “Well, welcome to 

Cable”.

Directly below, today’s GBPUSD M5 candlestick chart with algorithm.

 

Take away a couple of M5 candles, and what you’re looking at is a complete 

trading mess … no volumes, no liquidity, volatility compressed to the point 

where I don’t think it can get much lower intraday, ranges that are a minimum 

of 50% lower than normal in our 12 hour window of trading, and most 

importantly while watching the trade, is the fact that the HAL9000 has been 

programmed for max slippage. 

The algorithm needs and demands a minimum of volatility to be effective 

… well, this ain’t it, where everything is a coin flip, and every trade you make is 

at risk for a 5 - 7 PIP blast in your face in seconds, and with max slippage in 

force, the reward / risk ratios suck … throw in 30 - 40 PIP ranges in 12 hours,

and it’s a nightmare … hopefully, this shit ends soon, and the market can get 

back to normal, cuz this “tail risk” low volatility creates all kinds of unintended 

consequences for traders, and none of them are good. So, another day of 

“dullsville” and treading water, while we wait for normalcy to return.

Two trades today … PAMM up slightly, about $17 bucks and some change 

… when it won’t go, I got no choice but to liquidate and cover or risk getting it 

shoved up my nose on a spike from nowhere.

So, it’s the same story we’ve faced since May 2 … rallies on vapors or “Brexit” 

bullshit sprinkled in at the appropriate time when the scumbag LP bank’s find 

themselves long , with an occasional spike higher like we had with retail sales 

… and when that “supernova” explodes on pure short covering, the market 

then dies and starts the grind lower one drop of blood at a time, making 

staying short painful at best. And, this comes amid dwindling volatility which 

makes everything worse, cuz if you’re wrong it’s very difficult to get the losses 

back.

Volatility is the lifeblood of trading … without it, you tread water until it 

returns, simple as that. So, we wait it out, keep the powder dry, don’t do  

“stupid shit” [like chase price higher/lower], and take whatever the market 

offers until volatility returns … which, trust me, it will, and most likely uncoil 

some truly unreal ranges in the process, and kill a few folks.

Monday is a Holiday, of course, in the U.S., but Europe will ignore it … so, 

we’ll see what happens Monday … I’ll post Monday, so until then mi amigos, 

I’m outta here … time for a cold one … Onward & Upward!!

PAMM Spreadsheet directly below.

 

Have a great Holiday weekend everybody!

-vegas

OUR TURNKEY FOREX “PAMM/MAM” IS NOW OPEN AND

OPERATIONAL; SEE “PAMM/MAM 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”!

  

 

 

HOLIDAY WEEK TEACHABLE MOMENT

“… though, it doesn’t help much with financial markets!”

Directly below the M5 for GBPJPY today … “look & weep” as the classic “Flying Wedge of Death” [FWD] makes another appearance right before tomorrow’s big U.K. budget and MPC BOE meeting results [4:30 A.M. EST], and of course the Thanksgiving Holiday in the U.S., which will kill trading action on Thursday & Friday in New York.

This is day 7 of trading GBPJPY, and unless something “magical” happens with respect to price, today will mark the 6^th out of 7 days where either the 8-hour range [08:00 – 16:00] is 30% - 50% less than normal, or the FWD has been spotted. Today offers a “classic” case of why the algorithm is structured the way it is, and why it is sooooooo easy for traders to get in serious trouble on days like this.

First warning flag up the pole is the daily range coming out of the Asian session; for a cross to have a day’s range in the 20’s [PIPS] is exceedingly small, and as a result of this reversals are easy to effectuate, with double reversals or the FWD definitely in the cards. It all starts innocently enough, with a small rally that runs out of steam about 30 PIPS higher; traders who want to “jump the gun” and buy the dip before the 5 & 9 cross, end up taking successive losses or “triple up” or worse. That all ends with their sell stop getting flushed to the low at 148.63 on the spike down, only to see a rally back over 149.00 within half an hour. “Now, here’s the $64,000 question; how do you make this back if you got whacked”? This is the conundrum of low volatility, and why all the statistics for the 6 markets are included [and will be updated as we move forward into the future]; it is to guide you through periods of high and low volatility, so you have some firm footing underneath your trading actions. If you don’t know what’s “high” or “low”, how do you expect to sidestep action that could potentially hurt you?

Everything in the algorithm is there for a reason, and especially when volatility drops [like now], not only from an intraday perspective, but from a daily & weekly candlestick chart perspective as well, everything collapses on top of each other and all it takes for changes in signals are very minute, often random, price changes. That leads to a significant drop in the statistical probability advantage the algorithm offers … basically everything becomes a “coin flip”! The 121 & 183 EMA’s point towards higher price momentum when prices fall, and point towards lower price momentum when prices rise; the 5 & 9 signal generator gets “gouged” with price spikes a high percentage of the time, and nothing goes anywhere … you’re lucky if you escape with a PIP before the market takes it away.

This, of course, shouldn’t be a surprise to anybody that has read and understands the algorithm manual; no matter your method of trading, you better understand, as my mentor Bert would say, “What’s the form of your destruction”?  And, if you somehow don’t think you have at least one … “well Skippy, you better head back to the demo and do some more research, cuz I’m here to tell you “straight up”, that whatever it or they are, they will manifest themselves soon enough and carve you a new donkey, simply cuz you don’t know what they are. How can you solve or sidestep losses if you don’t know what causes them”?

When you understand the math of the non-Dollar crosses [do some numerator and denominator “what ifs” to prove this], you quickly realize that “low volatility” is not a high probability over time for crosses… and sure, like everything else, simply cuz it has to happen eventually in a “bell curve” normal distribution probability environment, there will be times it comes up and rears its head for all the world to see … this is “tail risk”; whatever your method, you got it … understand what it is and how to deal with it, cuz when it comes to trading you most definitely don’t get your cake and get to eat it to.

Problem is for most traders, and especially Newbies to trading, nobody out there [well almost, cuz I talk and write about it] wants to talk about “tail risk”, reward/risk profiles, situational awareness, & scumbag LP’s [to name just a few “unmentionables”] … and then how to use all of them to your advantage when possible. What you end up hearing or reading is, “it’s all roses & sunshine”, and everybody makes millions trading … just send $595 to … yea, you know the rest, and we’ll just sweep the unpleasant shit under the rug for you to find out about after you get whacked, and blame it on “shit happens” in the marketplace and move on … and you sit there, and don’t have a clue about anything except you’re substantially poorer, and then come to the conclusion, “well, the Pudding Business sucks, but this biz is bullshit”. MY RESPONSE: “well Skippy, remember college? Remember all the “genius” classes with the “genius” professors? Then you went out and got a job … how many minutes [no wait … seconds] did it take that first day, for you to realize that college was/IS the biggest scam in the history of the world? A retarded kitten could do your first job in corporate America, and you knew it; yet, you played the “get the degree” game and now here you are. I’m betting it didn’t even take you ‘till lunch time to figure out who to “schmooze” to get promoted, and who to ignore … well, trading is the same, only everybody is invisible and you’re matching wits with others like me, and of course the scumbag LP’s, who spend every second of every day trying to figure out how to screw with your account to their benefit … trading is simple; I never have said it is easy … your biggest problem is the space between your ears, and the delusional reality most people create in their heads about markets and how they should perform … they don’t, and coming to grips with making money in a probabilistic world that operates in “wave functions”, that aren’t at all like a regular paycheck, is most troublesome for a lot of people cuz they can’t wrap their arms around the math … and then, of course, they dwell on the “sizzle of the steak”, not wanting to think about the cut of the meat … well, there comes a day [usually sooner than later], and markets being predatory like nothing earth has ever seen before or since, you get eaten for lunch and it’s all over … back to the “Pudding Business” wondering what happened and why”.

Today, that early “sell stop flush” [to the new low] was a classic “fill you at the bottom” no matter where your stop was placed … orchestrated by dealers and large hedge funds [no doubt about this in my mind] to get themselves out of all the short positions at the bottom from your order, and now “goose” it higher and make you bleed. When it happened, I could hear the cries of anguish all over the world, it was so loud. The only thing that prevented me from getting long on the flush, was the fact the day’s range is so small … it doesn’t even come close to the 120 PIP range necessary from the “special situations” section of the algorithm manual … just because it looks, feels, and smells like a FWD, doesn’t mean it can’t go lower still; you have to respect the probabilities of success on this [low] when the ranges are small and not get caught up in dealer LP bullshit.

Coming into today’s trading, looking at the calendar for the U.K., Japan, and the U.S. [cuz it affects everything], tomorrow’s U.K. MPC [Monetary Policy Meeting], and release of the new year’s budget take center stage … that is a very big “red flag” that Cable action will be “choppy” and mostly position squaring today going into the events … expect some fireworks from one or both. Japan has been relatively “dead” for days now, and while adding some volatility, hasn’t been the driver of the cross these last couple of weeks. So, what else would you expect for today, other than a high probability for a FWD and/or “Doji”?

Late morning New York, and the LP’s and large hedge funds can’t help themselves, they just got to run stops … EXIT QUESTION: “What happens when you hit a new low inside a day with a relatively tight range, and the market refuses to lurch lower within about 100 seconds? Well Skippy, everybody is short and asking, “hey, where are the sell orders?”, and since there aren’t any … whoosh! … it’s up and away within seconds”. As I stated before, in the volatile crosses, you got no time to think … thinking kills. If you were short, your thinking should be, “stops hit off, no selling, I’m gone!” Sadly, there just isn’t time to stop things so you can make up your mind.

And so, on that late morning New York low, the 121 & 183 EMA’s finally turn south; and yet, when the 5 & 9 give the sell signal twice soon after, they both go nowhere or lose a few PIPS. Why? Cuz the range is less than 70 PIPS, and trading action is constricted. So far, in 7 hours, we’ve seen a new high, a new low, almost back to the high, a new low, and now a rally back to the middle … welcome to dealer stop hunts and position squaring ahead of tomorrow’s key events in the U.K.

Quite frankly, about 2 hours into this clusterfark, after the new high, then new low on “vapors”, and a rally back above 149.00, it was evident to me this is a day to leave the hell alone; quite simply cuz if you lose there is almost no way to make it back combined with the distinct possibility of making things worse … keep the powder dry for when it matters, not on POS position squaring days ahead of a major reporting event. It is what it is.

I am in the process of finishing up the 8-hour & weekly data for the other 3 pairs [GBPCAD, EURGBP, & EURUSD]; it won’t be long, and I’ll have all the data for viewing and/or download over in the “Download Links” section of the website. I will say this: in my own account I’ve been trading all 6 pairs, and am most impressed with the signal generation of the algorithm in EURGBP and GBPCAD. And while EURGBP lags a little in terms of overall relative volatility compared to the other crosses, it has 3 things going for it that make a huge difference; 1) signals generated make moves that can be captured without large spikes [although they do occur, make no mistake], 2) PIPS are in GBP, which means they’re worth approximately $1.32 per 10,000 you trade; that’s over 40% higher than PIPS in GBPJPY, and 50% in GBPCAD, and 3) the spread is excellent, coming in around 2/10^th’s to 3/10^th’s of a PIP most of the time, and often lower than that at 1/10^th of a PIP. So, when EURGBP has a 50 PIP range, that’s about equal to GBPCAD having a 100 PIP range, and the cost of doing business is a lot less … there’s more in EURGBP than meets the eye on first glance, and don’t be surprised to see me trade it in the days ahead, especially if GBPJPY continues to sit and waste away in tight ranges.

Late in the day, and maybe things change, but I doubt it … this day is simply a waste until tomorrow morning, when all hell breaks loose at 4:30 A.M. EST. I’m not prejudging anything, but the promise of higher rates, inflation, and robust economic activity for the U.K. is a “pipedream” … it’s gonna be a long time until they see that scenario. Nonetheless, if the trade is short, along with MPC comments on rate hile possibilities, Cable could take off. I dunno, we’ll see … all I want is more volatility, and to see expanded ranges into the norm for this pair.

I’m outta here … until tomorrow. Onward & Upward!! PAMM spreadsheet directly below.

Have a great day everybody!

-vegas

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

TEACHABLE MOMENT

“Be careful Skippy; you know what happens when you don’t pay attention!”

It’s early still today, and tomorrow sees economic data being released in the U.K., but so far the weekly candlestick of GBPUSD [with important commentary], which is directly below, tells you all you need to know to understand this disastrous week of extremely low volatility, and the effect it’s having on the “Scalper’s Algorithm”. Take some time, please, and understand what it is you’re looking at in the chart below.

The chart above covers about 110 weeks, going back to September 2015, with the exception of the “Orange Arrow A”, which is a mistake on the chart, the 9 white arrows cover the worst volatility weeks in the last 2 years and 2 months; only one of these is a Holiday week, and that was Christmas week back in 2015, the rest all scattered throughout the year. What does it say, when this week [so far] is 20% below the worst week of the last 2 years 2 months? Well, either SHTF sometime today, or tomorrow, or this indeed will be the worst week by far in years.

Ok, so what does that mean? Well, if you remember what I wrote in the “Scalper’s Algorithm” manual, I said something along the lines of, “if you follow the algorithm, there’s “almost” no way you can’t make money over time”, and I went on to explain the “almost”. Basically 2 scenarios must play out; 1) central bank [CB] manipulation like you see in the stock indices, which have literally ruined those markets for trading, and/or most importantly 2) a lack of volatility, which places the M1 algorithm signals on top of each other. And this week, so far, this has “played out” in spades, and makes algorithm signals much less statistically advantageous to take, simply cuz the market isn’t going anywhere. It’s a back & forth “chop-fest”, with LP’s feeding on stops and front running corporate order flow … for them it’s an early Christmas … for the rest of us, it’s a clear danger signal. All you need do is look closely at the M1, and literally 5 -15 minutes go by with M1 ranges so tiny, it makes you wonder if the MT4 is malfunctioning … and then BOOM! … a 5 -25 PIP move on nothing but “vapors”. And, it is a hallmark of choppy, illiquid markets that you see this type of action, with the then noticeable lack of any follow-through … rinse, repeat, and it can be a real “account killer” cuz it inevitably leads to the “Flying Wedge of Death” [FWD], a professional trader’s worst nightmare. I’ve seen in my trading career, so many people get “carried out on a stretcher” from nothing days and weeks, that go “nowhere” and do nothing except get you to buy short-term highs & sell short-term lows multiple times. At the end of the day, you add it all up, and nobody can believe how much money you lost, including yourself. These 9 weeks I’ve highlighted at the start of today’s blog are the most dangerous weeks of the last 2 years 2 months!

From an algorithm standpoint, it can be summed up, quite nicely, by today’s reversal from the high … hitting a new low … everybody gets short looking for stops under 1.30800 to get them profits … and then BOOM! … here comes the nasty spikes up catching everybody off guard. What this leads to is what I mentioned yesterday or the day before; a market where the 121 & 183 EMA’s can’t “sync up” with the 5 & 9 signal generator, and the market goes up when the trend is down, and then the market goes down when the trend is up; simply put, nothing works, and the reason it doesn’t is cuz there is no daily or weekly volatility for the market to play off, and thus impact the M1 signals, and/or give us the necessary market moves to liquidate with profit before they spike the market the other way in seconds. Plainly, I’ve just described “chop”.

Looking at today’s M1, directly below, and a picture says a thousand words; 3 algorithm short signals that don’t work while the 121 & 183 EMA’s are clearly negatively sloped and telling us there is negative momentum in the market; but that doesn’t matter to a market that isn’t going anywhere … all it does is produce chop, and that usually produces losses … and by the time everybody figures out that maybe the market will go higher … it moves down and traps retail specs yet again. Traders sold the 90’s & the 80’s, covered at 00 & 10 area, and get long at the 20 area … now what?

And so, my point today is a “teachable moment” for situational awareness in volatility and how it impacts everything … and I do mean everything, we do as traders. Without it, we’re all “dead meat”!

And even looking at the worst 9 trading weeks of the last 2 years 2 months, none of them are nowhere near close [except Christmas week of 2015] to the pathetic range, so far this week here on a Thursday, of a paltry 119.8 PIPS. Something has to give here soon; all of the 9 weeks highlighted, preceded some good volatility weeks in their respective aftermath. But I will mention once again, why it is critically important to not get “whacked” in these slow weeks, and end up doing “stupid shit” chasing PIPS that aren’t coming or aren’t there cuz volatility is so low [at the moment] … trust me, it will come roaring back soon!

Two examples for you to “ponder” and think about today; the first is, “I am guaranteed a 300+ PIP range each week in GBPUSD … I’ve spoken with the trading Gods, and they have assured me 100% this is the case going forward … of course, nobody but me knows this”. Well, if this was a 100% certainty; within a few years, I would have all the money in the world from trading, simply cuz I could start at Monday’s open and position myself for whatever happens, knowing it will probably go in my profit direction until the range for the week is 300 PIPS, where I would take profits and stop trading … I couldn’t lose if I tried!

The second example is the opposite: “the trading Gods have told me GBPUSD will not have a weekly range over 120 PIPS going forward; again, I’m the only one who knows this”. Now, though, every time the market approaches either extreme of the range I take heavy positions the opposite direction and thus profit handsomely; again, within a couple years, I have all the trading money in the world.

The first example, is plainly “trees growing to the sky”, and the fact that volatility will always be there to bail you out; the second is the opposite, where you fade volatility at every opportunity. Both, when they don’t work, will kill your account, especially the first with large stop moves against you in seconds, and the second with the “drip, drip, drip” of losses accumulating as you prepare to trade the expanding weekly range, which by the way never comes!

So, the bottom line is this: “unless you are willing to literally bury your account in the “trader’s graveyard” at some point [this week, next, a year from now, what does it matter cuz it WILL happen?], you have to have the discipline and patience to “walk away” from these weeks when they start unfolding themselves to you with no action by Tuesday or Wednesday. That is the time to pay attention, and if Thursday’s or Friday’s action isn’t expanding the range to “normal” levels, you have got to back away and say no thanks”. And really, who wants to “bury”” their account?

Sadly, though, this is what happens to most traders; instead of “reading” volatility and reacting to it, they try and impose their “thinking” on it, and end up either trying to fade increases in volatility, where the stop hunts will kill you, or they’re increasing leverage looking for volatility to increase, and when it doesn’t, the illiquid trading conditions exacerbate the fill you get from the scumbag LP; in neither event do you have any chance of long-term trading success.

Specifically, I want to address what I call the “Newbie Disease”; the logic of which has as its base a totally flawed premise; namely, a very tight range will continue “tight”, so he/she can short the top of said range and buy the bottom of said range all day long for big bucks, with a stop slightly over/under the range so the potential damage is minimal. “Ummm, yea, that ain’t gonna work, cuz your stop will get pummeled unmercifully, and your risk is at least quadruple what you think it is. Worse, are those who simply ignore stops, cuz as we all know it’s in a tight range and has to come back, who 7 minutes after a 100+ PIP move against them, are staring at a 50%+ drawdown in equity of their account, and all those 1 – 3 PIP winners aren’t there to carry the day, cuz you spent them already on your “trader lifestyle”. So, you win 15 and lose 1, and you’re down 50%+ … that’s the problem with fading volatility, and thinking tight ranges will stay tight … they won’t, they don’t”!

Turning to today’s market … well now, “that escalated quickly in Japan didn’t it”? Nothing like the highest Nikkei stock index prints in over 20 years, and then 2 hours later almost 1000 points in the hole [860 to be exact]. Of course, “Peter Pan’s “Plunge Protection Team” [PPT] got right on it, and by the close had rallied the index back up. Still, markets as they say, were “unsettled”.

With that said, the Nikkei getting “monkey hammered” should be Dollar bearish, and sure enough Cable is rallying from late Asia into the European open; $64,000 question is, can they extend the weekly range, or is some kind of reversal in the cards? And what about the “Brexit” talks? It looks early on like new highs are in the cards. Ummm no actually, how about a nasty reversal off the high and straight down to yesterday’s low, taking it out by a PIP or so, just to get the retail sell stops of course … and then rallying it smartly about 36 PIPS.

First trade of the day, and I’m reading the algo signals, and I get a buy signal up near the high … “OK, the high for the day so far is 1.3152-ish; the weekly high is around 1.31774 … the probability is still high that this range gets taken out; 119.8 PIPS is very, very low … at this moment, I know that if/when the market goes back up to test the high from late Asia, it has got to do something quickly … any farting around … up/down a PIP or fractions, and I’m looking at a 3-10 PIP move down in 1 second when it comes … sooner or later somebody “whacks” this stuff if it can’t sustain any rally. So, when it got above 1.3151, my thought is it has to MOVE RIGHT F-ING NOW TO NEW HIGHS AND THEN GO HIGHER STILL … if it doesn’t, it spells trouble … and guess what, we got the trouble … after failing and before the plunge, I liquidate with a meaningless, small profit. No winner-winner chicken dinner here”. Again, like yesterday, I don’t see the point in posting a pic of the trade … simply a signal of dubious value, in a tight market, about ready to reverse and go to the lows.

And then the stop-hunt induced frenzy to new lows … from which every spec in the world gets caught short and is forced to pay up. If the market could have busted 80 on the downside, I probably would have sold a small rally, but barring that, all I could see was the dreaded FWD and all its horrific manifestations. So, until something happens, there isn’t any way I’m getting sucked into this mess. It is what it is, and none of us can change it, until its time … and we don’t decide that.

Ok, I’m hearing now that the “presser” over “Brexit” is to be tomorrow morning [Friday] in Europe, between the U.K. & E.U. negotiators; coupled with economic data, this is gonna make for an interesting Friday … buckle your seatbelts … any break above 1.3177 or below 1.3057 and it could get very nasty going into the weekend.

Early afternoon in New York, and the FWD clearly present in Cable, with a few shorts getting new donkeys carved with a chainsaw, free of charge from the dealer community; after you lose 15 PIPS in 4 minutes, tell me how you plan to get it back going forward into the New York afternoon, cuz I’d really like to know “Plan B” here; especially now knowing the Brexit presser is tomorrow morning. And, like all predatory markets, SHTF early tomorrow with a data dump, and the “comedy show” of the EU vs. UK, where anything can happen. Some “fireworks” shortly after 1 P.M., and taking a look at the M1, this is what happens to stops … first the sell stops, then the buy stops … all-in-all about 40 PIPS for the round trip … If you were on the wrong side of this, good luck in making it back now. “I rest my case”.

Please don’t anybody misunderstand, I don’t like getting up in the wee hours and watching paint dry either; however, I hate losing more, so it’s wait ‘til tomorrow and see what the cat drags in, in terms of news … it is what it is. Just glancing at the computer screen, I can see that the FED’s ‘Plunge Protection Team” [PPT] is now out and bidding stocks higher … we’ll see if it holds through to the close; I guess some folks were “unsettled” after all with Japan, what with the 30+ handle range in the SP500 on the downside; Cable now sliding slightly with the rest of FX, as the panic stock selling seems to be over. Oh, won’t tomorrow be fun.

Over this coming weekend, I plan on doing the data for USDCAD; both the weekly going back to 2012, and the 8 hour from January – August 2017. When I’m done, for those interested, I’ll post it Sunday night over in the “Download Links” section of the website. View it online and/or download from my shared files folder at box.com. All files are in PDF (Adobe). Until tomorrow everybody … I’m outta here. Onward & Upward!

Pamm spreadsheet directly below.

Have a great day everybody!

-vegas

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

HOW MANY WAYS CAN YOU SAY “PATHETIC”?

Bet on the turtle to get to any finish line today before gold moves a buck; my goodness, how slow can a market get? I had a feeling this was a total waste of time when I got up and saw the currencies and stock indices “dead in the water” right along with gold. Sorry, ain’t playing this game of “chop chop, let’s see where the stops are at”.

This type of action goes to the heart of  the current financial market manipulation going on via the Central Banks; nothing means anything anymore except what some Central Banker says, and then markets move at the speed of light towards some unknown point and then abruptly stop until the next banker pie hole opens up to give us all of his/her wisdom. Rinse, repeat and you have present day markets [all of them].

Of course, the problem in very low intra day volatility markets is the fact that if you’re wrong on your first trade, there isn’t enough movement the rest of the day to make it back; you’re stuck, and there isn’t any movement in price to help you out. Need proof? Well, just take a look at gold in a $3 buck range in New York and tell me what happens if you get on the wrong side of $2 of that and then turn your trade around? Where does the loss get made up and where do profits come from when you can’t even get outside the spread for 30 minutes as you’re moving closer to the close minute by minute?

So, no trades today, although there was one tiny algorithm trade you could have made and wound up with about $1; in any event, a wash day with little to show for getting up. Tee time in 90 minutes … I’m sooo outta here.

Have a great day everybody!

-vegas

OPEN A DEMO AND/OR LIVE ACCOUNT AT THE LMFX LINK IN THE “DOWNLOAD LINKS” SECTION OF THE WEBSITE TITLED “OPEN TRADING ACCOUNT – DO IT NOW!”

OUR LMFX GOLD TRADING PAMM WILL BE READY AS SOON AS LMFX GETS THROUGH WITH UPGRADES TO ITS PAMM SOFTWARE! WE ARE VERY CLOSE; OPEN YOUR LIVE TRADING ACCOUNT TODAY, FUND IT, AND BE READY TO PARTICIPATE!