IN THE EYE OF A HURRICANE

“From this hurricane what leaves you first: your wallet or your sanity?”

There is no question in my mind, that right now as we sit through this boring, nothing USDJPY market [3^rd day running], that we are in fact smack dab in the middle of a financial hurricane; first “eye wall” will start to hit on the afternoon of Wednesday, March 15^th, and depending on what happens in the Netherlands later in the New York day after the FED and U.S. Treasury announcements, either pick up further steam or reverse and catch everybody on the wrong side. Either way, most likely we’re looking at a 300 – 500 PIP move over a few days before things settle down some. At least in this particular case, the event risks are well defined and known to the market, and we aren’t sitting in uncharted waters.

Hurricanes come in many forms, and as my “cousin” pictured above so aptly proves, make sure you understand what you’re dealing with when close to one, cuz the “upside” is limited and the “downside” is something has got to go; either your wallet, your sanity, or both.

Over all the years I have used the “40 PIP rule” to trade U.S. Dollar pairs [either XXXUSD or USDXXX], I have 3 observations to share with you; 1) when I’m stuck in mud, i.e. a boring, dull market that can’t make 40 PIPS to save its life, I hate it and think about [but don’t cuz I know what the consequences are] maybe trading a little anyway, 2) when it’s “over” and volatility returns I’m so damn glad I didn’t trade and end up doing “stupid poo poo”, and most importantly 3) the fact that the reason the “40 PIP” rule works so well isn’t because it’s a “function” of volatility, but rather a “dynamic variable” of the version 3 volatility algorithm.

I said yesterday, and I hope all of you understand the subtle significance of what it is I’m saying; “all very large traders [HFT’s, hedge funds, banks, etc.] use proprietary computer code in their algorithms to trade USDJPY [and the rest of FX as well]. We will never have access to that code either individually or collectively, and very few even if they had it would understand the math behind it … but … I can guarantee 2 things the code does without knowing what the specific code is spread amongst all of them; 1) they ALL track, analyze and attempt to profit from short term momentum, and 2) they ALL attempt to run retail stops through textbook support/resistance models so they can liquidate their positions at the most advantageous prices at tops or bottoms. Compared to their networks, our MT4 platforms are “tin cans with string”; but, we have one thing the computers don’t, and that’s the ability to “project” final M1 formations before they close the minute and inform the computers it’s time to buy/sell.

As my great grandmother used to say when she was alive when I was a kid, “You don’t want to work? Then you’re a bum! You don’t want to come over to my house for coffee? Then you ain’t my friend! You aren’t in church service on Sunday morning 7 A.M. sharp? Then you’re a heathen and deserve God’s judgment!” In other words, PROOF IS IN THE PUDDING!

I have stated many times that when it comes to trading, it is neither “associative” or “commutative”; just because A = B, does not mean B = A. Just because a short term bottom/top or a retracement bottom/top has been put in, doesn’t mean it “has to be” an engulfing pattern or reversal of some kind; however, when price moves in one direction or the other at least 15-20 PIPS and retraces the day’s trend, an engulfing pattern or reversal at the bottom/top happens plenty of times, and when it does it sets off alarm bells at the HFT’s and other large trading desks that the correction has come to an end. BEFORE ANY MOMENTUM INDICATOR YOU WISH TO PUT ON YOUR MT4 EVEN HAS A CHANCE TO RESPOND TO THE ENGULFING OR REVERSAL PATTERN, the market moves and the bottom/top has been put in. No matter what you code, when you get the buy/sell signal they’re now ready to buy/sell back to you! THEREFORE, IT IS IMPERATIVE YOU UNDERSTAND THAT THE PATTERN FORMATION IS “THE CODE!”

If you have been observing USDJPY these last couple of days, you have your proof right in front of you of what I said before; namely, the version 3 volatility algorithm is the “general case” of prior versions. Before, when the market would get slow like this, the signal components would collapse onto themselves and give off “false positive” all over the place. With version 3, the signals still work, but their effectiveness is limited because the market isn’t going anywhere and intraday volatility has fallen rather sharply over the last few days; BUT THEY STILL WORK! So, as I said before, even though they aren’t worth chasing, in very slow markets the version 3 still works.

The “40 PIP” rule, therefore, is a “dynamic variable” in version 3 in the sense that exceeding it means there is room for retracements and higher intraday volatility which gives us the ability to treat trades as either “scalps” or “free trades”. When it’s not there, the market does not give us these options.

Therefore, the “40 PIP” rule isn’t a function of volatility, but a dynamic variable function of the engulfing and/or reversal patterns; it is specifically the “code” of these formations after the market has told us intraday volatility is present [HVALUE > 40 PIPS], and thus allows these formations to be statistically significant [some kind of profit] precisely because there’s “room to run” up/down after 40 PIPS has been achieved [“And we know this for a fact because the profit ratio (PR) when 40 PIPS achieved = approximately 4.3, and when it isn’t achieved = approximately 1.6, over the years and decades USDJPY has traded”.]. All along I was right, but for only half the reason I thought; when the market is active, these formations shine when they show up, and they show up plenty of times.

So, it should be obvious; “we want to be trading when the signal parameters are at their most effective and statistically significant, and we want to sit on our hands when they aren’t”! And this is what the “academics” in finance [the same ones who say I can’t exist] don’t take into account; 1) they mistakenly believe all time and price parameters are equally significant and that none have an advantage over others, and 2) they can’t see the “code” in the formation on the chart and therefore treat it as “voodoo”.

And what I’m telling you, is if you strip away the known problem areas [days HVALUE < 40 PIPS, and potential bottoms/tops that aren’t engulfing or reversal patterns when H VALUE > 40 PIPS] where trading conditions are problematic for profits, what you are left with is a trading environment better than owning a casino in Las Vegas! Cuz what I’m saying to the market is, “give me the highest probability scenarios possible that put me in a profit position; from there I will make the call to scalp or ‘free trade’ it; that’s all I’m asking, now do whatever the hell you want”.

Turning to today’s market … I came, I saw, harrumph! … It didn’t take but a few minutes to see that EURJPY was in no mood to be any more active than USDJPY; when the Euro would go up the Yen would go up, when the Euro would go down, the Yen would go down, and thus the cross was going nowhere … quickly! So, that yielded nothing, and I’m back to waiting in USDJPY for it to do something.

Gold for it’s part, if you’re watching it, has no trade flow to it whatsoever … watching the bid go 30 > 65 > 95 >99 >71 >48 >30 in about 5 seconds … then rinse & repeat, and you quickly realize that if you are trading any size at all, you will [not an option on your part] be doing 2 things; 1) giving a shipload of money away to the dealer LP in slippage, and 2) biting off more risk than you can realize if the market turns and you have to get out. Ok you say, “well, use limit orders, that solves the problem doesn’t it”? MY RESPONSE: “1) you’re only going to get that limit fill if the LP can arbitrage it somewhere else and make money (just like a market order), and 2) just because you have a limit buy/sell doesn’t mean you get your price! [Hint: see customer agreement you agreed to when opening account.] If you have a limit sell in gold at 1220.00 and the market rallies from 1218 up to 1220.03 bid, and then immediately the next bid is 1219.58, there is a very good chance your fill is going to be 1219.58, and the LP will say to you that they couldn’t get your price so they filled it at the next bid possible. Oh … you didn’t know that”?

So, take whatever you’re doing for your own account and jack it up to 400 OZ., or 500 OZ., or 1,000 OZ. or more, and then tell me just how bad it’s going to be from these LP sharks when either my stop gets hit or I have to liquidate at the market the wrong way; cuz I don’t know, you don’t know, and the only thing for sure I know is that the LP will fill me just over “outrageous” and just short of “indicted”. How many of these does it take for the “money boat” to start some serious leaking? [Hint: not very damn many, and this is the reason I’m not trading gold right now. Reward not even close to the risk, so leave it alone.]

Looking out a little, directly below is the USDJPY daily chart, with Ichimoku cloud formation. As you can see, daily highs have been bumping up against resistance on the cloud, and since this indicator is very widely followed in the Pacific Rim part of the world, you can’t totally dismiss its significance … kind of looks like a “flag” formation is being put in, and if true indicates the half way move up to a retest of the highs around 118 … that could easily play out with 1) Fed hikes ¼ point fed funds rate and gives hawkish rate guidance forward for 2017, 2) Treasury gets debt ceiling lifted, and 3) Wilders loses Netherlands election … we’ll see, but I wanted to point this out today.

 

Here we are at Noon time in New York, and again today it appears, unless somebody decides to do something, that we have another day of HVALUE < 40 PIPS; right now as I write, HVALUE = 23.9 & LVALUE = 18.9; even considering event risk next week, this is pretty pathetic in scope. Really, I think it has as much to do with event risk as it does shorts getting wiped out on February 28^th in the reversal; nobody it seems wants to go out on the proverbial limb right now.

For Newbies to the website, and those that have only been here a short while, and/or those who are thinking about participating in the PAMM/MAM program, I’d like to share some thoughts on “escaping to success”; 1) finally, I have the house that I want, not the house I have to accept, 2) I trade on behalf of clients the deepest, most liquid [except when they ain’t], and lowest “net” cost markets in the world, 3) my fees are about the lowest in the world, 4) I use moderate to low leverage and am primarily “risk averse” rather than “profit oriented” in trading, and 5) over the years, my profit goal of achieving 1% per trading day is accurate.

Finally, getting the trading conditions I wanted in the PAMM/MAM at Turnkey Forex is something that I have been waiting for going on 5 years; yes, it’s taken that long. And what this means is more money in everybody’s pocket and account, and less going to the LP bank and brokerage house. What we finally have in the 4 markets I’m primarily interested in are the lowest “net” trading cost available to the public; and then to have that carry over into the PAMM/MAM is truly ground breaking. Because up ‘till now, every place out there had conditions that were less than ideal; high spreads, high round turn commissions, and volume requirements, and that’s not even mentioning slippage and other issues. And the savings all get passed to my clients!

The very best market to trade right now is USDJPY, the last 3 days notwithstanding; best liquidity [except when it ain’t] and largest spot market on earth, which means no matter how much money I manage, I’m never going to move this puppy one iota. Add to that, the absolute lowest “net” cost to trade [about ½ PIP] with better conditions than if you bought a CME membership!

I charge only an incentive fee of 17% on cumulative high water marks on profits; that’s it, no other fees. I consider 17% “fair”; not expensive or exorbitant and not dirt cheap. If I were a customer of myself, this is what would be acceptable to me. Others can charge whatever they want, and I can’t speak for their reasons. In the interest of total disclosure, I do get a rebate from Turnkey on their share of round turn commissions, which amounts to less than $1 per 100,000 notional value; this doesn’t affect a client’s spread, cuz whether I get a rebate or not the client still pays Turnkey $2 per 100,000 notional value of the trade. All it means is that Turnkey is willing to share their commission with me for bringing in the business to the brokerage house; nothing more, nothing less. So, since it has no affect on any client’s cost to trade, I might as well take the money they offer. If it in any way added to my client’s cost of trading, I wouldn’t do it.

When I trade for clients, I use moderate to low leverage consistent with a “risk averse” philosophy, rather than some who are totally obsessed with profits [and then never get them]; what this means, is that my very #1 top priority is “not getting whacked”! Now, nobody goes through a trading career with no losses … anybody who says or intimates this is a liar and/or fool. The first rule of trading is DON’T LOSE LARGE AMOUNTS OF CAPITAL, and the 2^nd rule of trading is never forget rule #1. The key to “escaping to success” is meaningless, small losses that can easily be recovered. Hand-in-hand with this is moderate to low leverage; “I don’t take shots with high leverage; losers have this attitude. I have the statistical advantage when trading versus others; therefore, my strength is cumulative over trades, NOT taking extraordinary risks via a high leveraged trade hoping to hit the moon”.

Over the years, yes I have made a tremendous amount of money trading … most people know that, and the results speak for itself without any need of embellishment from me. There are really only 2 things I want to point out; 1) in the past over the years, my track record shows that money grows roughly about 1% a trading day, and 2) besides making people a shipload of money, which I view as secondary, my proudest accomplishment has been throughout my career THAT NOBODY AT ANY TIME HAS EVER BEEN DOWN DOUBLE DIGITS AS A PERCENTAGE OF CAPITAL … EVER.

There was a time back-in-the-day when I was on the trading floor, when I had a Big 8 accounting firm crawling up my backside every single trading day FOR 3 YEARS … yea, 3 years. I told them at the beginning that’s what I wanted, and through their laughter they told me I was nuts; nobody does this amount of time … nobody. Too many things can go wrong … markets change … you’ll lose money … I will lose interest … blah blah. Over that time, which is audited and in the public domain, there were quarters [that’s 3 months for you almost college graduates getting free tuition at State U.] where I only made a couple of percent. And then there were months and quarters where the accountants begged me to stop making money cuz nobody would believe it and they would have to attest to it and people would think they were lying … seriously, it’s true.

Bottom line is it came out slightly above about 1% a day; so, this is through crappy weeks, a couple of dead months now and then, good times and all the rest. So you don’t have to do the math, it was about 1,400% annualized. Now, maybe I do better or maybe I do worse … I dunno, cuz I can’t predict market behavior or volatility. What I can tell you is I have “floor trading” conditions at Turnkey and that is critical for our success. And just so somebody out there doesn’t get the wrong idea, I’m not predicting or projecting past success into the future for you … like I said, it could be better or it could be worse, I’m just telling you what “has been”.

I have always taken a very careful approach towards client money; I’m not some “cowboy gunslinger” from ‘Trading Places’; my philosophy has always been to “stay out of trouble” first, then seek profit. On those days we do very well, it won’t be because I went out on a limb and bit off more risk or took a shot with high leverage; it will be because I “position scaled” and chose the least risky approach to the market consistent with profit potential.

When I started the PAMM/MAM, I was still using the version 2 algorithm; a series of failed, losing trades in gold & USDJPY that amounted to a few hundred Dollars or so [at the time a little less than 1% of capital] got us off on the wrong foot. Instinctively, I knew something was up with the model, and made the necessary changes which prior blog posts have highlighted. I take losing personally and always have; I’m not gonna sit around and just say, “Oh Ok, no big deal … stuff happens … it’ll be alright … it ain’t much … blah blah yada yada”! I’ve been at this rodeo too long for that kind of cavalier approach.

Since the introduction of the version 3, action has been very slow in USDJPY, the market hasn’t gone anywhere or done anything so the trades have been scalps for very small profit, but believe me, things will pick up shortly; even in these crap markets signals are good [which I predicted the general nature of the model would produce cuz it has to], and these “cluster” days of less than 40 PIPS HVALUES will disappear. So, it’s pretty much onward & upward from here, as soon as USDJPY and/or EURJPY [2^nd choice] gets in gear and starts moving again.

Well, it’s 2 P.M. in New York, and again we have no trades today in either USDJPY or EURJPY; USDJPY because the HVALUE is still 23.9, and in EURJPY cuz both the Euro and the Yen are moving in the same direction most all day and it’s HVALUE is 20.5 PIPS [which I’m having a very hard time believing, this is so low]. Forget gold; if you’re interested in losing 10% of your account in 60 seconds be my guest, cuz the risk is there and it’s very real, not just theoretical. The risks are simply way too high commensurate with reward for trading this market right now; sometimes you just have to “walk away” and stay away from the certain “stupid poo poo” you’re gonna step into.

Latest PAMM spreadsheet directly below … beach beckons … I’m outta here … until tomorrow. 

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”!

  

VERSION 3 ALGORITHM MANUAL

“And you thought the algorithm manual helped you do what?”

The version 3 volatility algorithm manual is posted over in the “Download Links” section of the website [right hand column] for viewing online and/or free download from the cloud. I titled the manual the “MT4 Version 3 Volatility Algorithm” because you use the same algorithm in every market. At the same time I took down the other previous manuals and files because they are no longer needed and are outdated.

As with previous documents I have authored, I try and be as concise and to the point as possible, realizing at the same time that there are a lot of “what if” scenarios left blank. I want to give you the information quickly and efficiently, without the need to wade through 300 pages and most likely put you to sleep; the purpose of the blog is one of continuing education where I can “fill in the blanks” so to speak, from time to time, as issues pop up and become apparent in the marketplace.

I’m hoping I will have the “tutorials” revised and updated by next weekend; as you can imagine, it’s a lot of work and writing and takes some time. From my standpoint and perspective, it’s a labor of love, so I enjoy doing it and it really isn’t “work” in the traditional sense.

Over the years I’ve seen and witnessed markets change on an unprecedented scale; not much ever changed when physical trading pits were still around, but since electronic trading became the “de facto” standard, things have only picked up speed and changed ever faster. Even when I was doing version 2, in the back of my mind this “pace of change” was worrisome; wondering to myself, “my God, how much more can these trading paradigms change and what next”?

In reality, the version 3 volatility algorithm came to fruition, not by a “top down” approach, but by an “ass backwards” follow-it-up the food chain type of analysis from failed trades in gold and USDJPY. There’s a difference between an occasional loss from probability, and a series of losses that can’t be explained other than one of two ways; 1) you’re in a “tail risk” once in a hundred year event, or 2) your model is faulty. Well, there was no unusual activity in either market to give rise to saying, “whoa, look at this action … man it’s crazy … won’t see this again for …” so I knew it had to be option 2.

And after sifting through a literal mountain of data, my first reaction was, “in the new paradigm of ‘speed of light’ trading to crickets’, there isn’t anything you can put onto the MT4, no matter how sophisticated the code or larded up with math, that can possibly be quick enough to react to market moves and give you a high probability signal. The fact is, limitations in the time frames of the MT4 prevent us from seeing anything/everything that HFT’s, banks, and large hedge funds who move the market see; anything under a minute and we are totally blind! So, no matter what I or anybody comes up with as an indicator of a short term trend change, it’s gonna be LATE to the move by at least a couple of minutes and most likely more like 5 – 7 minutes, and that can be huge in terms of price”.

So, what is it at the “micro” level that changes the market from “dog food” to “filet mignon” and gets large institutions and traders to switch in a heart beat from one side to the other and rush off in a kind of dizzying market move that leaves me sitting here going “WTF is this”? Meanwhile, my indicators are still relatively asleep at the switch and can’t “see” what the hell is going on until it’s too late; by the time they say “buy” the move is 75%+ over and I get to get long in the “crickets” phase of this and go from there. This obviously isn’t where I want to be. This used to happen in markets and was considered an anomaly; today it’s an everyday occurrence.

As I often do when I’m looking for insight, wisdom, or even subtle hints for things I may have passed over in the past, I go back to the “masters” and just start reading. I was reading some Gann material on “swing trading”, and he intimated something that caught my eye; he was talking about the “swing” out of a correction and how most times that occurrence didn’t happen slowly, but rapidly with a change of sentiment in the marketplace. And it immediately got me thinking about the many days back in the “pits”, locals would get caught long or short and the market would move, and you’d have a whole bunch of guys saying or telling themselves, “next break down I’m buying and getting out of these shorts and then getting long … did you see how fast we just rallied”? And of course, the proverbial train had just left the station and wasn’t coming back for anybody.

As I started to try and figure out how the HFT’s [and others] were using their “super secret” code worth billions to get the jump on others, I’m looking at turn-after-turn-after –turn in the market and seeing the same damn thing at tops and bottoms AFTER MOVES; namely, engulfing patterns and reversals I mention  and show in the manual.

And now, everything crystallizes in about a nanosecond; SDEV as the “general case” for exhaustion moves that track every exhaustion move, not just the ones from the old model; seeing and beating the HFT’s computers before they get their signals [not always but often enough]; and understanding that these candlestick formations after moves have a very high statistical significance even before I measure them and see!  And in a nutshell, there you have it, cuz in an instant I realize the pattern itself IS THE COMPUTER CODE, and I certainly don’t need to reinvent the wheel; all I have to do is sit and patiently wait for the proper set up that we get multiple times per day, even in conditions that totally suck [umm, like right now for instance] and activity is super slow [my term, which is “crickets”] to bat excrement crazy. In other words, version 3 covers all the bases!

To be sure, not all tops/bottoms, retracement tops/bottoms are engulfing patterns or reversals; some go far, some don’t, and some occasionally lose. But there are enough of them per day to wait for them because they appear constantly at the turns, and all I’m asking from a trade in a perfect trading world is to be up money in a position so I can determine whether I want to scalp it or “free trade” it anyway. I don’t care if I miss a retracement to another formation, cuz it doesn’t matter; what matters is the code for turning is solid with engulfing patterns and reversals and puts me where I want to be in a trade. I don’t think you can ask for anything more than that from trading and expect to actually get it.

Here at the NY open, after 5 hours of complete nothing in USDJPY, even the crickets are complaining it’s too slow … current HVALUE = about 28 PIPS and current LVALUE = about 8.5 PIPS. And gold? Yikes, don’t even go there … seriously, I’m wondering about Asia, and while I’d like to think the Chucklehead gold traders there along with Mrs. Wantanabe, that I chide almost every other day, got something to do with it, that’s too easy an explanation … Europe I can understand, as the financial elite are paralyzed right now wondering if their socialist utopian vision for the deplorable masses of the Netherlands will hold or give way to Gert Wilders & crew who will change everything the E.U. stands for and wants … we’ll see what happens, along with Yellen, and the Treasury debt ceiling, all on the same day! Bottom line is that Europe is on hold … wait and see … and very little movement in anything is taking place as markets drift when they are open.

Here we are an hour in, 30 minutes from stocks opening and … crickets. Pulse rates at the county morgue show higher activity than USDJPY right now, and if USDJPY ain’t movin’, nothin’ is movin’ … wow, is this slow … feels like the day after Thanksgiving, and nobody is doing anything; trade flows as low as I’ve seen them in a very long while. Not counting Sunday, the last 3 trading days have been terrible; I said before that these kind of events “cluster”, now it’s time for the cluster to go away!

Almost Noon in NY, and even the Euro has a bigger range than USDJPY … crosses are quiet as well … a little movement in gold, but I simply do not trust this market right now, as risk [long or short] is very heavily skewed to random spikes that kill stops, and I don’t intend to be part of that crowd.

Ok, we are working our way into the afternoon in NY, and USDJPY is drifting up slightly but basically dead; 2^nd day in a row Yen activity has been muted to almost non-existent. If the trade tomorrow is like today, I’ll switch over to one of the Yen crosses, either EURJPY or GBPJPY to pick up activity; because the crosses are … well, crosses … they don’t have the 40 PIP rule because there are 2 pairs involved and will generally move somewhere and have decent to above average  HVALUES and daily ranges regardless of what’s going on in individual pairs. And, most importantly, the signals do just as well here as anywhere.

What we are seeing in USDJPY the last 2 days is the worst of all scenarios; market opens and goes a little up, then goes a little down, then goes back up maybe hitting a new high, but there isn’t any power in the advance, then backs off … all without ever getting to the magical threshold of 40+ PIPS. And so what we are left with are tiny reversals in a drifting market that has no direction for the day until it decides to get one and hurt you; that’s why I leave it alone.

It’s not like I’m asking for the world here; approximately 85% of all trading days have an HVALUE > 40 PIPS, but from this kind of activity you are seeing Friday [before the late break] and today, it should reinforce just exactly why inactive trading days should be left alone; 1) reward is small and risk is high, and 2) see #1.

Ok, it’s 2 PM in New York, time to pull the trading plug on USDJPY for the day with no trades; as I write an absolutely pathetic HVALUE = 27.8 PIPS and an LVALUE = 26.8; I’ve been sitting here for about 11 hours, and it’s worse than watching paint dry. Like I said, if I see this tomorrow morning when I come to the screen, more than likely I’ll switch over to EURJPY. Until gold gets a trade flow and these “mystery” bid/offer ticks that go $0.40 - $0.60 up/down in a heartbeat go away, the reward in gold is not worth the risk when trading it.

I don’t like sitting here doing nothing any more than anybody else, but it’s better than getting chopped up in trades that go nowhere; although the signals in USDJPY yielded some positive signals, hindsight is great when you know there aren’t any spikes to worry about from the charts and you see what happened. Today’s kind of action shows why buying/selling “breakouts” is a losing approach in trading, and reiterates what I said earlier about the visual signals in front of you; “that candlestick engulfing or reversal pattern after a move IS THE COMPUTER CODE!

Latest PAMM spreadsheet directly below … beach beckons … I’m outta here … until tomorrow.

 

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”!

  

OY! ANOTHER DAY OF FED PIE HOLES

“Sadly, your country died a long time ago Tom.”

Well, it seems I was off a day; today a whole gaggle of FED Pie Holes take to various podiums all over the fruited plain in the afternoon, no doubt to get another freebie chicken dinner, and totally reassure us all as to the need to raise interest rates into a lackluster, sagging economy and just how much “everything is F-ing AWESOME baby”!

So once again, the entire financial world is on hold as everybody gets to “hurry up & wait” for the soothing words of ChairSatan Yellen & and various other members of the Keystone Cops that no doubt will comfort all of us in thinking that they know what they’re doing; if anybody can stay awake deciphering this pile of steaming BS without needing psychological counseling afterwards, a 6 digit gig at a wall street brokerage house awaits.

Once again, except for gold, where it appears Asian traders got the email that U.S. rates are rising, the dollar is rallying, and that holding their favorite pet yellow rock might not be such a good idea right now from $20+ higher, they just didn’t want to wait any longer and simply sold last night; everywhere else it’s … crickets!

European capital flows and European trading having simply vanished this week … get ready for more of this to come as it looks like the financial elites of Europe are in “Full Metal Jacket” panic at the thought of Gert Wilders being PM of the Netherlands … an amazing coincidence that the Fed meets to raise rates [“we’ve all been told this now, so it’s a “done deal” right?”] at the same time the Netherlands have their election; and if Gert wins [he’s ahead in the polls for what it’s worth] you can kiss the Euro goodbye at the same time rates are raised in the U.S. … “Wonderful timing Fed, simply wonderful”! I can only assume that if Gert wins, the Russians are behind it; after all, what sane person wants “borders, language, & culture” when you can have unchecked refugee immigration and E.U. Apparatchiks telling you how big your toilet seats can and must be? “And if Gert wins, do I really have to tell you how much momentum that would give the French, who just a few weeks later have their elections, to maybe elect Le Pen, and if that happens what happens to EURUSD and the financial makeup of Europe”?

So, hang onto your hats, because as quiet as it is now … going forward into next week and after, things are likely to go to DEFCON 1 on the financial “trade-O-meter” … where gold goes I haven’t a clue … however, USDJPY is a different story, and the action here will see a dramatic increase in daily HVALUES, daily ranges, Asian & European trading, and most importantly intraday volatility. Things are about to “heat up”.

Ok, here at the NY open, after watching paint dry for 5 hours, USDJPY has a 28 PIP HVALUE … no comment necessary as I’m thinkin’ you know what I’m thinking”! … again, no action cuz everybody’s waiting and wondering … PMI due out at 11 NY time, but quite frankly until Yellen & Fischer start speaking “in tongues” to the anointed Fed watchers whose job it is to tell big money what they mean, most likely “hands will be placed under butts” and not punch order tickets.

And gold here at the NY open? Well, after the Asian traders decided “no mas”, and Mrs. Wantanabe made the liquidation phone call at or near the Asian close, it’s been … “crickets”. And really, since that time, gold has been in its familiar “let’s screw everybody” mode with shots up, shots down, back up, back down, in a $2 range with dealers handing out 60 cent off the market fills to all comers; “thank you, come again”! However, just let me remind you of what usually happens when Asia sells gold off … “that’s right, New York at some point puts in a good rally that makes them all look like chumps at the poker table. If it wasn’t for Asia, I’m wondering if the New York bullion banks could survive”.

I think today would be a good time for some definitions and historical perspective for Newbies to the website and those who’ve been readers/clients for a short while. First, the definition of HVALUE [high value] & LVALUE [low value]; HVALUE = THE HIGHER OF 2 VALUES; either 1) [Days OPEN – Days LOW] or [Days HIGH – Days OPEN]. And, therefore the LVALUE = THE LOWER OF THESE 2 VALUES.

Second is the “Profit Ratio”; Profit Ratio [PR] = HVALUE / LVALUE. What this ratio represents is how theoretically profitable a market is, represented by a number, in moving in a trend direction for a day so that we can capture profits; the higher the number, the better the market for algorithm purposes because it is trending [up/down] and giving us good trading signals we can take advantage of and make money in that [up/down] direction for that day.

So, to put all of this into perspective, I can compare markets across asset classes, and using the PR, I can tell which markets are good to trade, and which ones to avoid; over the years and decades, USDJPY has the highest PR of any market, with an approximate long term average of 4.3. In addition to that, the historical data for USDJPY says that approximately 78% - 80% of all trading days have an LVALUE of less than 40 PIPS. This is the reason for our first algorithm rule of “no trading” until the HVALUE = 40 PIPS or greater. What this means is that since we know the HVALUE = 40 +, if the market reverses course and puts in a reversal day, that HVALUE will then become the new LVALUE, and that only happens roughly 20% of the time; why get caught up in figuring out which way it’s going to go when the probabilities so clearly tell you? This is why PR’s are so important, because the higher the number the truer the trend for the day. So, if you were a time traveler and came back to today and only told me that tomorrow USDJPY is going to have a PR ratio of 7.2, I would make a fortune trading this market tomorrow. Likewise, you tell me it’s going to be 1.4, and I’ll stay in bed. And when we get this type of normal trending PR day in the version 3 volatility algorithm, the PAMM/MAM is going to be doing very well.

And as I have stated before, the data is clear; when the HVALUE for the day in USDJPY is less than 40 PIPS, historically the PR = approximately 1.6; when the HVALUE for the day in USDJPY = +40 PIPS, the historical PR = approximately 4.3. Now, you tell me why you would want to do anything on days when the HVALUE is less than 40 PIPS? Most often times, these days will cluster and they come bunched together around Holidays and important trading events like central bank meetings, etc.

Ok, taking a look at the calendar, we got a gaggle of loose lips Fed speakers today, Fed meeting and elections in Europe in 2 weeks that will change the entire continent if they go a certain way; we also got Trump and all that comes with his Presidency, and a stock market that has no clue what gravity looks like; “what could possibly go wrong here”? Is it any wonder “big money” [especially after getting burned so badly a couple of days ago] doesn’t really want to make a “statement” here and start taking large positions and moving USDJPY?

Having said all of this, of course there will be exceptions to the rule, and you can find days sprinkled over the course of 4 decades of USDJPY trading where fading the rules would have put some good money in your pocket; what you need to know is that you most definitely need these days to offset the complete and utter destruction you’ve experienced in trading in all the other days to just have an account left to trade; not a very good trade off in my humble opinion.

When I meet people, or when they email me looking for some trading answers, and ask me about my most “memorable” trading days of “killing” the market, or about the crash of ’87, or anything else related to making money, while interesting I guess, it misses the point; the days I’m most proud of, and the days I recall the easiest are the days in which I actually lost some money trading [small amounts, never large]. Everybody knows, every dog has his day; all traders know there’s a bullet out there in a gun aimed at their head, and the question is, is it my day to be in the “crosshairs” of the trading Gods? Not if, but when that day comes, how you gonna handle it and what are you going to do about it; can you handle the truth and stare into “the abyss” and figure out what the problem is or was?

Having a career as a professional trader is about failing successfully; surviving the “learning curve” to be able to treat failure as vital information worth more than money. So the question becomes, did I fail because I did “stupid poo poo” or is there a problem with my trading model and/or approach to the market? More often than not “stupid poo poo” wins in a landslide.

What you learn very quickly in this business [cuz if you don’t you won’t be around very long], is to make failure cheap and inexpensive relative to the information about the failure; it doesn’t do you much good to wipe out an account and then look back and say after you’ve returned to the “Pudding Business”, “gee, if I hadn’t lost that 20K on that Tuesday I think I could still be there doing it”, cuz you ain’t there anymore and there isn’t a free 20K laying around under the seat cushions in your couch to get it back.

When I first started trading the PAMM about 9 days ago, in a metaphorical sense, that “abyss” was tapping me on the shoulder while I was staring at losses that shouldn’t have been there; my probability model says it shouldn’t have happened and that it was a “fluke” of extreme “not gonna happen in 100 years of trading”  kind of thing. And I’m sitting there and thinking [correctly], “no, it isn’t tail risk hitting, the model is faulty and needs to be scrapped, fixed, or changed to reflect profit reality”. And it dawned on me pretty quickly what the problem was, cuz the failed trades pointed it out to me in spades; I mean, the math was literally screaming at me! The few hundred bucks it cost is meaningless; the information gained is priceless. Now, don’t anybody get the wrong idea here; back in the day when I had $15 million in a trading account, and I literally would lose a $1.98 on the day, I wasn’t exactly pleasant to be around until the next day. I would spend some time analyzing what went wrong [usually “stupid poo poo”], and once in a while I would have to make a minor algorithm fix. I frickin’ hate losing; but I put it into perspective as a necessary evil that has to be confronted in order for there to be a gain. Without the potential of the former, there can’t be the latter; the universe doesn’t give you something for nothing, and if I have to have a loss I want it to give me back many times over valuable information that is far greater than the few bucks I donated for continuing education in trading.

So, for you Newbie traders and veterans alike, understand that going through your career trading, and I’m assuming you want it to be longer than a Johnny Depp relationship, your first priority in trading your model or algorithm has to be to avoid losses of any significance to your account’s capital; losses are inevitable, but they have to be relatively cheap and inexpensive. Learn from losses, and come to the correct solution if necessary, realizing most of the time you are at fault, but have the moral courage to “look into the mirror” and admit failure of your model and then fix the problem if that’s the issue. Now, you can set your sights on profits!

I spend the vast majority of my trading day analyzing where the “land mines” are out on the trading battlefield; what’s important and what isn’t; where are the spikes most likely to come if they come and I’m in a position; where are the stops to help me and where are they located that could hurt me, etc. All of this is about risk avoidance; avoid losing money of any significance, and it doesn’t take very long to “escape to success”.

All of this taken together can be highlighted into today’s USDJPY trading; an HVALUE = 34, LVALUE = 28, & a PR = approximately 1.2 as I write; maybe Fed Pie Holes can wake the market up, but I doubt it. When I go into a day, my goal isn’t to make 120 trades for a PIP; this is suicide, cuz some of those you’ll get caught up in spikes and take 15 – 20 PIP losses. As you will see when I post the new manual on Sunday night for the version 3 volatility algorithm, there is no need for a scalping algorithm cuz that can be incorporated into the signals of the version 3.

What I want to do, and what makes sense from a trading perspective is to assume the least risk possible while capturing a decent sized move in the market; if the market forces me to scalp, so be it, but that’s not my primary objective. What eventually tells us by the end of the day [Europe & U.S.] if it was a good trading day is the PR, the higher the better, and generally speaking the lower the worse the trading conditions for making money. Looking at today’s PR=1.2 and you really don’t need to know anything else about today other than it was/is crap, full of dips, spikes, stop hunts, and most likely a ton of scratch trades. Thanks, I’ll stay put and watch the carnage.

Low PR’s don’t automatically mean you lost money, just that opportunity for extended moves weren’t there if the HVALUE was below 40. On huge reversal days, where the HVALUE could be 150 PIPS and the LVALUE COULD BE 100 PIPS, the PR would be somewhat misleading, but this happens in USDJPY < 1% of all trading days. So, it’s a very good indicator of daily money making opportunity.

Ok, Fed Watchers got Yellen’s prepared comments at 1 P.M. New York time, and after throwing some chicken bones against a wall somewhere for guidance [aka “research”], some saw a special “horse & squirrel formation” from the displaced bones and went gaga about buying, while other “research” department USDJPY experts saw the dreaded “one legged dragon” version from the mess and decided to sell. FX dealers, quick to please everyone, took it up to new highs for the day to fill the longs, and then in 3 minutes filled the sells 40 PIPS lower as well. “I just love it when everybody can get their wishes fulfilled at the same time”!

Well, it’s officially 3 P.M. in New York, and looking at the stat sheets, unless somebody does something really stupid [quite possible] going into the close, we’re gonna end up with a 39.7 HVALUE for the day, along with an LVALUE = 28.2, for a PR = approximately 1.41.

In any event no matter what they do, this is now the time to “pull the plug” on USDJPY today with no trades; with 2 hours to the close, there’s nothing here but trouble. Once again, the volatility algorithm rules save me from a day of pure heartburn … and if you traded gold today by chance, you have my condolences in advance of knowing anything that you did.

There are some major lessons from today everyone should be cognizant; 1) I don’t violate algorithm rules, 2) when it’s time “to sit”, I sit, and when it’s time “to trade”, I’ll trade, but I don’t ever gamble, and 3) the only inmate here at Traderzoo that “wins” in the long run is “Patient Bear” below.

  

Patient Bear is patient, and sits and waits for his honey; he has discipline and doesn’t like it when markets get messed up, but understands that’s part of the process and realizes to get his honey and “escape to success”, following algorithm rules is the only way. Tomorrow is another day; opportunity is infinite, capital is finite.

  

End of week PAMM spreadsheet directly below.

  

The dog loves me again today, the beach beckons, and it’s a Chamber of Commerce day down here in Paradise, so what’s not to like about I’m so outta here? I’m sooooooo outta here … new manual Sunday night … until Monday mi amigos!

Have a great weekend 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”!

 

THE POLITICS VIRUS

“Politicians & dealers:feasting on most markets every day!”

Of course, we can thank another Fed Pie Hole [Brainard] late in the P.M. of the New York session last night [after stocks had closed] for the “2 minute wonder” 30 + PIP move up in USDJPY; “thank you politicians for yet again messing with markets and skewing everybody’s behavior for the umpteenth millionth time”. And now that that’s finished, we can spend the next 12 hours in “garbage land” with an HVALUE less than 30 in mindless chop.

The trading environment we find ourselves in is one of political terror; it doesn’t matter what market you are in, traders all over the map are being terrorized by politicians. The reason we are witnessing “speed of light” trading and then … crickets, rinse & repeat, is because more and more traders are refusing to do anything up and until another Pol comes down from the mountain and talks about his musings with the Oracles; the risks are just too great. “One day a Pol Pie Hole says ‘A’ and the tsunami of money takes USDJPY lower in a blinding rush; the next minute or day, another Apparatchik says “B” and the herd reverses, thus trapping a whole host of traders and inflicting the most pain possible. Rinse, repeat, and is it any wonder the folks around the world just want the bleeding to stop … ipso facto they sit on their hands and do nothing”.

Overnight trading in Asia & Europe has totally collapsed; Asia more than likely cuz they got sick & tired of bidding gold higher and losing money practically every night for the last 10 years and have finally wised up or run out of money, and Europe’s elite absolutely paralyzed over upcoming elections in the Netherlands and then France, which ends the E.U.  if Wilders and/or Le Pen win [and both can win, especially Wilders]. That pretty much leaves things up to the New York banks to create as much havoc as they can without getting legally charged and indicted, and of course keeping U.S. stocks higher which is now the official U.S. Federal Reserve Mandate of supreme importance.

Here we sit at the NY open, gold totally untradable and USDJPY with not even a 30 PIP HVALUE; everything crawling somewhere, but you don’t know where really. Volumes very muted, trade flow almost non-existent, and like I said, traders terrified of the next “shoe to drop” and getting caught up in something they can’t possibly make back up in a session; not so much USDJPY, but very much the case in gold where spikes [up & down] have been vicious and come out of the blue from nowhere. Simply put right now in gold, there is no way to quantify your risk in a trade; whatever you think it is, it isn’t cuz it’s much, much higher. So while you think you’re risking $1.50 - $2.00 per Oz., in essence it’s more like $5 - $7 and maybe $10 if it got ugly against you; most experienced traders understand this, and it’s the reason gold is not seeing any kind of “normal” trade flow; traders are backing away from this market in droves. Why would you accept this as a trader? It’s simply stupid; find another market up & until conditions improve.

And here’s the open! … yawn … USDJPY so far deciding not to play.

Over the years of my trading career, there have been times before where trading conditions have either totally stalled and markets have stagnated beyond belief [Summer of 1992], and/or times where political upheaval, geopolitics, and mass hysteria to own stocks ruled the day [1987 anyone?]; and while they generally don’t last very long in the scheme of things [few weeks to maybe a couple of months tops], when you sit in ‘em they feel like they could go a million years. Trust me, they don’t, and neither will this.

Finally, USDJPY gets an HVALUE for the day above 40 PIPS 11 minutes after stocks open in the U.S., and 6 ½ hours after Europe opened … from there … nada … very small, choppy range today thank you very much FED Pie Hole [“I am pleased that for the next 2 weeks going into the March Fed meeting you central planners are in a black out period where you have to buy your own chicken dinner and can’t pick up speaking fees and worthless honorariums from economists dumber than you, and therefore you have to STFU and not say anything … good, about time … how about a blackout period of the whole year?”].

What with shorts getting caught in the melt up from a couple of days ago, and the March Fed meeting 2 weeks from yesterday, any corrections in USDJPY should be limited to 112.75 max, and probably more like 113.35 – 113.54 area on the downside; anything steeper than this will be a surprise. Of course, stocks all of a sudden discovering gravity or some other geopolitical event might bring in some Yen buying, but I think it’s going to be tough sledding for short USDJPY traders the next 2 weeks.

As for gold, again it has morphed into a liquidity nightmare where any size over a 1 lot is treated execution style, and if you are on the wrong side of a stop … “fugetaboutit”! Right now, until the trade returns with volume and ranges that make sense, your risk here is 10X that of USDJPY for the same reward; sorry, ain’t playing that game. This is a market where the bullion banks definitely have the edge over us, and the logistic necessities of buying dips and selling rallies overly exposes the PAMM/MAM to risks that I find unacceptable given the reward and the availability of deeper more liquid markets like USDJPY. While they don’t go “tick-for-tick”, and some days one will do better than the other in terms of HVALUE, broadly speaking they trend the same way and correlate.

Gold never has been a market where your first thought is reward; gold is a market where your first priority has to be avoiding risk, because if you don’t you will soon find yourself up against the bullion banks, and when that happens the universe will be a cruel place. It simply doesn’t matter whatever kind of gain you can make; what matters is the potential losses on spikes, cuz if you have a stop in there look for it at the bottom many $$ / Oz. from where you planned.

Having said this, the version 3 volatility algorithm signals work well in gold; after a move higher/lower the engulfing patterns and/or reversal M1’s nail it very well; that’s not the problem. The problem is you buy a low it goes $1 in your favor, and when it rolls over the spike down fills you $2 lower for a loss, or even far worse than that. More than likely that will not happen in USDJPY; not to say USDJPY doesn’t have its senior “stupid poo poo” moments … it does, but far less often than gold and overall over time they both move about the same. Again, I’m not trading it because there is no money to be made; I’m not trading it right now cuz none of us want to be down 10% - 20% in 2 minutes from getting taken out back and shot in the proverbial head by the LP on a forced liquidation stop or market sell order.

From the European open in USDJPY, there were 2 very good buy signals, both on the break from the high around 114.54 down to 114.23; the first one I didn’t take because it was “iffy” [IMHO], and the range on the M1 candlestick was about 2 – 3 PIPS. The second one wasn’t nearly as good, although if I had hung on … hindsight and all … it was a good trade. All in all, pennies in profit on a day where zero happened after Europe opened … looking around the FX arena, nothing did anything except chop.

Over the upcoming weekend, I’ll be posting on Sunday night the new manual for version 3 USDJPY trading [and by proxy any other pair that has a “net” trading cost of less than 1 PIP of which there are plenty]; until then, you have to know this about any of the FX pairs we now have availability to trade via Turnkey Forex; the algorithm spots the turn of the retracement inside the days trend and most often after moves [up or down] totally “nails” the turn back to the day’s trend. It also spots intraday highs/lows and gets you out near tops and bottoms.

The one thing you have to avoid is falling prey to buying/selling “breakouts”, looking for retail stops to save you or for the trend to continue uninterrupted; many times dealers run the stops by a PIP or two and then reverse the market 5 -7 PIPS quickly. New highs are for liquidating longs; new lows are for liquidating shorts; if you consistently try and pick the bottoms and tops you are going to get caught in a stop “frenzy” that hurts you badly. If you’re going to be wrong, be wrong about opportunity, not capital!

When trading slows, version 3 of the algorithm still spots the opportunities, but it’s easier when the market is moving; nonetheless, the signal parameters don’t collapse onto themselves like prior versions and this is a big plus for our trading. In active markets, we will get many trades during the day, and like today when things crawl we only get a couple. Overall, I’m thrilled with algorithm performance in these slow conditions, something that caused us tiny losses when first starting the PAMM/MAM in the prior version.

I can’t make markets move, but I can assure you that when they do, from the start of European trading through U.S. hours, we’ll be there waiting for signals to capture and profit from the version 3 algorithm. It’s simply a matter of patience & discipline.

I feel so good today, after taking the entire bottle of “anti-putz” pills last night, even the dog wants to be around me today [“well, only if I go to the impenetrable bacon box and get him some bacon”.]. I haven’t once today electrocuted, drowned, or otherwise poked myself with a sharp stick … not once! “I think I deserve, at least, a participation ribbon”! When I told the Mrs. this, she turned around, went into the bathroom and brought me a roll of toilet paper.

PAMM/MAM spreadsheet from today directly below; and with that … I’m outta here … until tomorrow.

[click to enlarge]

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”!

 

 

THE TRUMP EFFECT HITS USDJPY

“Simply a tsunami of money.”

Any time you have an imminent event risk, no matter the type, those piling into a move before the event takes place, more often times than not are the ones getting obliterated a very short time later. Late yesterday New York session into early evening Asia got somewhat nasty … “well, more like really ugly as USDJPY rallied 150+ PIPS almost straight up… I warned in yesterday’s blog post about “lightening hitting twice” if it got above 112.25 … in reality it wasn’t so much Trump, but 2 other factors at play; 1) hawkish Fed speakers with the usual mantra of  “hikes are on the table for the March meeting” (“sure they are”), and 2) too many people short below 112 looking for some kind of “train wreck” from Trump later.

Here an hour before the NY open for stocks, what has me concerned and cautious is the absolute “euphoria” in U.S. indices at the open … “I’m not predictin’, I’m just sayin’! … today, this morning, this is what tops look like when you are going to get this type of opening sharply higher after spending the entire last month going straight up … DOW30 up 1,200+ points since Feb. 1! …

Turning to today’s trading … 12 hours since the European open and a 35 PIP range in USDJPY; everything happened last night … order books pretty much wiped out on both sides [again] with the wicked action from yesterday afternoon and evening … 3 trades today, 2 were slightly positive scratches for the most part on bullish engulfing patterns that went nowhere and the other trade was a buy “mistake” when I dragged my mouse across my screen to remove an indicator on a chart and went through the “buy” button in the order box [“stupid poo poo I know] … so suddenly, I’m long and don’t want to be and it cost us a couple of bucks … apologies, it won’t happen again … not that it matters much in the scheme of things trading wise, cuz nothing happened today except chop, but it’s a mistake that doesn’t need to be made.

Like I said yesterday, ranges need to be better in Europe & New York so that I can “position scale”; all it would do in today’s kind of market is produce scratches cuz there is no follow through. Coming up here shortly, now that political events are out of the way until the March Fed meeting in a couple of weeks, trading should resume back to more normal conditions; when that happens, you’ll see more volume and better trade results.

Here in early NY afternoon, it looks like we have another reversal day going in gold, EURJPY, and USDJPY is moving lower also; gold especially is about as erratic as I’ve ever seen it, with no flow to the trade at all, but simply “herky jerky” bid/offers tripping up position stops on a daily basis. And of course, when it reverses and makes a new high by taking out buy stops, there isn’t anything left to move it higher; such is the state of the gold market today.

I’m really disappointed in the action today in Europe & the U.S. session in USDJPY; outside of my mistake [which I’m wondering if I should go to the pharmacy and ask for an “anti-putz” pill … the Mrs. says get the whole bottle], the trades I made were good signals, they just didn’t go anywhere. I expected, with the stock market going bananas and yields rising to see much, much better action; instead USDJPY traded like it was Christmas Eve, and the best move of the entire European & U.S. combined day comes 2 hours from the close. Oy.

Onward & upward, tomorrow is another day; PAMM/MAM spreadsheet directly below … I’m outta here.

 

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”!