STRAIGHT UP OR STRAIGHT DOWN?

 

“Welcome to FX … one way runaway train tickets on sale every day!”

Hang around FX markets longer than about half a minute, and it should 

become obvious to anybody paying attention, that “position trading” any of 

this crap is for the birds … and quite frankly, try telling the “lovely, gracious, 

& beautiful Mrs.” that the markets aren’t “cooperating”, so therefore your 

shopping and spa trips have to be cut back, cuz I’m not making any money; 

I’m sure you understand … “wait … what”? … “you want to discuss SHTF? 

… this is SHTF man”! And so, it dawns very quickly on professional traders, 

that come bull, bear, pig, or whatever, you better find a way to make money 

under any and all circumstances … from my days on the trading floor, it 

usually took newer traders less than 5 minutes to figure this out.

Which brings me to this “gem” of a day … “oh, looky here … why Kim Jong 

Whatever wants peace … uh huh, and the markets are buying it hook, line, & 

sinker. Forget the fact that he’s a lying, POS scumbag and trusting him is 

foolish … like I said yesterday … markets aren’t seeing reality, they’re seeing 

what they want to see”! And color me just a tad skeptical, but this news from 

the “Norks” makes perfect sense when you combine it with yesterday’s melt 

up in the SP500 futures at the European close … my money says Kim was 

buying futures beforehand, right along with EURUSD, and then after the 

news hits this A.M., stands there and sells it back to the world … nice work 

if you can get it!

And so, here we are this A.M. with EURUSD trading slightly north of 1.24 

… remember 3 or 4 days ago when you couldn’t get an uptick to save your 

life, and the market was struggling in the 1.21’s? And how many traders got 

played like a violin the last few days? My guess, is more than a few … with 

the ECB meeting  in less than 48 hours, and a history of not “delivering” the 

goods the market wants to see, how much sense does it make to 1) trust the 

“Norks” that they are sincere, and 2) trust Super Mario to deliver a higher 

EURUSD? “Well, if you’re buying that slop, I got some wonderful Haitian 

swamp land to sell you that’s perfect for development … cheap”!

If the last few weeks in EURUSD aren’t enough to convince you, nothing 
ever will … right along with every other MT4 market, the emotional swings 
from extreme bullishness to extreme bearishness have been on display, front 
and center. Simply scan the financial rags and there is no shortage of dire 
forecasts for everything on both sides! From $10,000 per Oz. gold right around 
the corner, to EURUSD @ 1.40 or 1.00, take your pick. [I’m hoping not in the 

same week, though.] But, what remains constant? … what criterion remains 

the same no matter the situation, no matter the scumbag LP’s, & no matter the 

price? … “that’s right Skippy, the “setups” for trades pretty much always remain 

the same, and if you do them right and show patience & discipline, your success 

rate at trading will go exponential upwards”.

Turning to today’s market … Just when you think we can’t be on another one 

way roller coaster ride, here it comes, thank you very much Kim Jong Un. Of 

course, like I said above, it all makes sense once you understand the dynamics 

his protege Putin taught him from his KGB days trading gold … and if you 

somehow think I’m being sarcastic, trust me, this happens all the time in these 

world markets, where the only rule is, “there are no rules”. Truth be revealed, 

this is one of the main points against position trading anything … not only are 

your losses “bigly & yuge”, but get two or three of these roller-coaster rides to 

go against you in succession, and your equity could easily be down 30%+ in 

short order … now what?

And from a completely “dead-in-the-water” corpse of a market at 10:30 server 

time, instantly we get “to the moon Alice” and some volatile trading action 

… quite frankly, I was sitting here wondering, before the Kim news,  how the 

hell EURUSD was going to move ± 5 PIPS and show a pulse … well, I can stop 

wondering now.

I made two trades today … PAMM up just a few bucks shy of 0.2%.

“Setups” for my trades today weren’t classic “textbook”, but they had “high 

probability of success” attached to them … the hard part of course, is sitting 

while price continues to go higher with no break in sight, but as all of my 

longtime readers know, buying rallies … especially those on “news”, is the 

quickest way to the “Pudding Business” there is … it doesn’t matter if you 

make money on any particular news event, cuz in the aggregate over time, all 

you do is make some money to go towards bigger losers when they show up; 

and as we all know, that money isn’t there when the Reaper does in fact show 

up.

It’s Noon in New York, and EURUSD is hanging slightly above 1.24000 … I 

can’t say as I know why it’s up here, what with the ECB clown show within 48 

hours, but we keep swinging back & forth between extreme bullishness & 

bearishness that is capturing some big money accounts as its victims, right 

along with a shipload of retail specs I’m quite sure … like most of the previous 

days, once the stops have been cleaned out, there’s little left but “crumbs on the 

table” as far as moves are concerned for the rest of the day, as the scumbag 

LP’s chop the market to pieces with slippage and mystery ticks, both up and 

down. 

I’m in the process of writing another addendum to “The Scalper’s Algorithm: 

The Final Solution”, and it is designed specifically for aggressive scalpers 

… most likely looking at 5 - 10+ trades per European & U.S. sessions. Here, I 

address via examples, the list of “bullish setups” I use in trading EURUSD 

… whenever EURUSD goes into a “bear market”, I will do another addendum 

for the bearish case. There’s a lot more to the Addendum than that, of course, 

but the reason I’m writing it is to give you specific guideline “setups” that you 

can use in your own trading, instead of simply giving the soft & fuzzy advice of 

“buy breaks in a bull market”. I’m hoping it will be done by the end of this 

upcoming weekend, so I can post it Sunday night … if not, the following 

weekend it will be released and published over in the right-hand column under 

“Download Links”. 

There’s a reason the Algorithm is labeled as the “Final Solution”; under even 

the most severe and trying circumstances, for example the “Flying Wedge of 

Death” [FWD] and “doji” candlestick daily charts, you have a high probability 

of making money … if you want and need “consistent & stable” money making 

trading opportunities in all market conditions, then this is the Addendum for 

you. I limit the discussion of trading to EURUSD, but any of the major U.S. 

Dollar pairs could also be applicable [GBPUSD, USDCAD, USDJPY, 

AUDUSD, & NZDUSD], if they have sufficient intraday volatility exceeding or 

on a par with EURUSD. [Note: pretty much all of these pairs have tight 

spreads of less than ½ PIP, so cost of trading isn’t that big of a deal if you trade 

something other than EURUSD.]

EURUSD trying desperately to hang onto the 1.24 handle, here in the NY 

afternoon, but I have a hard time going into Thursday’s ECB meeting if they 

take this stuff higher tomorrow … we’ve seen this rodeo clown act before, with 

the straight up action over multiple days, and then … BOOM! … down it goes 

like “Thelma & Louise”. “Is it too much to ask the Chuckleheads in Asia to take 

EURUSD lower again tonight into tomorrow”? We’ll see what tomorrow brings, 

of course, but one thing is for sure 100% gonna happen … and that is that the 

“setups” will be there to take advantage of and make money … how much and 

when, it depends on what the market does, but be there they will be for us to 

profit. This day is over … I’m outta here … until tomorrow mi amigos 

… Onward & Upward!!

PAMM spreadsheet directly below. 

 

Have a great day everybody!

-vegas

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

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“DOWNLOAD LINKS” SECTION IN RIGHT HAND COLUMN

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