NFP ROULETTE

“What do you think of “buy & hold” as a trading strategy?!”

Well, stronger than expected NFP numbers, and that escalated quickly to the

upside didn’t it? … and since then, it’s basically crickets with an upside bias.

Not much to do today, except watch others buy the rally, although there was one

decent break in the DOW30, around NOON EST, that saw price correct some

… and while I was patiently waiting for our algorithm signal, we didn’t get the

setup we needed to take a long scalp … shit happens, not all bottoms yield buy

signals … what we’re looking for are only the highest probability buy signals

… it’s as clear as day, but unfortunately some will take the bait and run with the

ball, and when they make money, they’ll think it was their superior brain power

that did it … instead, you simply won the coin flip. And coin flips ain’t cuttin’ it

here.

Quite frankly, I don’t care if the DOW30 is at 50,000 or 500, or anywhere in

between … it’s not the level that matters … what matters is the setup and your

patience & discipline in waiting for it and then taking it … any chimp can push

chips onto the table and play and hit a winning trade … the problem with that is

when it doesn’t work and everything turns to shit in a hand basket and there’s

no “Plan B” to stem the bleeding … suddenly, the train is off the tracks at warp

speed, losses mount quickly, and it’s account destruction time.

I said yesterday, I’d be looking at Turnkey today to see if they can get their act

together with respect the bid/offer in the DOW30 … alas, the answer is no they

can’t … however, as I’ve stated in the past, there is one market not even they can

fuck up cuz it would cost them too much business, and that’s the DAX30 … while

Turnkey’s DAX30 CFD isn’t as good as the CFD at FX CHOICE, 2 things of note

here; 1) very few houses can touch the FX CHOICE DAX30 CFD, it’s that good,

and 2) Turnkey’s DAX30 CFD isn’t all that far behind, coming in around 0.1 - 0.2

index points higher bid/offer spread … so, beginning Sunday night I’ll be trading

the Turnkey DAX30 CFD, and if they ever get their act together, I’ll start trading

the DOW30 CFD as well. 

This weekend sees me write the crypto file to be published and released with the

Sunday blog update … for those new to crypto, this will be helpful to you as you

attempt to navigate this space … lots of informative things will be in there, as well

as how to get you started.

As most, if not all of my readers know, I hate NFP Friday’s … no, that’s an

understatement … along with FED interest rate decision days, these two are the

worst historically for trading, I don’t care what your model is … I’ve never liked

them, they cause major disruptions in price discovery, and the world would be a

better place without them … unfortunately, we had 2 days this week to deal with

them, and in those 2 days I haven’t done Mr. Jack Squat … if I get what the

algorithm calls for, I’ll be all over it, but if not I’ll sit … we don’t get “style points”

for trades.

And what I want people to focus on, is not the price level of the DOW30 [or any

market for that matter], but on the power of high probability trades over time and

how THAT achieves your transition to “escape to success” and financial freedom

… cuz the important factors in this are twofold; 1) don’t get “whacked” and suffer

large losses, and 2) build your account using moderate to low leverage … do

these 2 things, use the algorithms, and Bingo, Bango, Boom!, you come to a point

very quickly where you’re making more in a trading day than the size of your first

deposit!

We’re in the late afternoon now, and the trade today has been very “NFP-ish”

… meaning FUBAR-ed from the get go by an NFP number that missed some

sigmas to the upside … not to worry, Monday comes soon enough, and I’ll be

there then for the trade signals … until Sunday’s blog update mi amigos

… Onward & Upward!!

Have a great weekend everybody!  

-vegas