“Yea, that’s the problem!”
OK, where’s the escape button to GTFO of “The Twilight Zone”? … this entire
month of trading has been nothing but a cruel joke on the trader community,
culminating in yesterday’s complete record setting clusterfark in EURJPY with a
“quadruple reversal”, which in over 4 decades of trading I’ve never seen in either
the U.S. and/or European sessions in anything FX … but wait, it gets better! … as
today so aptly shows with the circus shitshow coming out of Japan last night with
PM Abe’s resignation, there’s MOAR! … so I drag my bottom to the screen today a
little after 4 AM EST, and what do I see? … LOL! … “WTF is this”? … spreads
blown to hell, ranges 150% - 250% above markets respective 20 Day Range MA’s,
and Europe has barely opened! … DEAR MRS. WATANABE: “you’re gonna need to
get your checks in here quicker cuz they aren’t clearing fast enough to cover your
losses”!
Non Yen crosses not doing Mr. Jack Squat, and Turnkey being Turnkey the
bid/offer spread in GBPCHF & EURGBP utterly ridiculous … so, adios to those 2
pairs for today … EURJPY with a range out of Asia that’s 200% higher than the 20
Day Range MA for the entire frickin’ day, so what’s here as well? … probability
says NADA is what’s here, so adios to that pair … GBPUSD acting like it’s on meth
and the spikes from hell are more frequent than I want to see, so the only
alternative to trading today is EURUSD.
EURUSD IS AT 1.18950 when I get to my screen this morning … Europe now
closed, and after 8 hours of “Brady Bunch” hell watching this pair, it can’t do
diddly squat up/down AND EVEN GO 25 PIPS! … and that’s from the tips to where
I came in to trade! … more like 10 - 15 PIPS on each side, and can it get any worse
than this? … “thank you Japan for ruining this trading day”.
And to show you just how FUBAR EURUSD was today, the IVIX INDEX level for the
European session = 76 … now consider, it CAN’T GO 25 PIPS IN EITHER
DIRECTION FROM THE TIPS from my showing up, but instead sits and diddles
around with nasty & brutal chop … truly phenomenal, and I’m pretty sure the
scumbag LP banks are popping champagne bottles after today is finished, simply
cuz they brutalized & screwed so many specs multiple times with bullshit off
market fills from slippage.
And so here we are, another day of complete bullshit after an explosion in price up,
then down on “news”, followed by the law firm of Zip, Zero, Zilch & Nada
guaranteed to chop you to pieces looking for some kind of market movement
up/down over the course of the rest of the day, and not getting it … what an
“Effing” joke, and I want to know how to get out of these episodes of “The
Twilight Zone”!
Only one more day in this sorry assed month, before we can relegate it to history
and forget about it … we could have closed JULY 31, and reopened next Tuesday
on September 1, and who would have cared? … what’s amazing to me, though, is
the astonishing amount of extremely low probability events this month has seen
in trading action, topped off like I said before with a quadruple reversal that had
to have killed a ton of accounts … however you wanted to define “normal” before,
you can throw that out the window, cuz it’s a FUBAR free for all pretty much every
day now … and again, just look at today, with EURUSD for the 8 hour EUROPEAN
SESSION having an IVIX INDEX level = 76, and it can’t go 25 PIPS! … how the hell
does that happen without serious FUBAR chop? … hang around another 20 years,
and I don’t think you’ll see this again, BUT HERE IT IS! … I’d like to think that it
being August has a lot to do with it, but we won’t know that until next week, when
regular FX desks come back on stream … I had algorithm parameters earlier today
give me “extreme oversold” and then “extreme overbought” within 11 minutes of
each other, and EURUSD had moved 2 PIPS … what the hell do I do with this?
… and as I have said before, but it’s worth repeating, the algorithm trading model
will cover 99.97% of all trading days and should be effective for profits … that
leaves 3 days per 4 years of trading for potential trouble, as days fall more than
“3 sigma” [standard deviations] from the mean … I think this month has seen like
7 … this month … forget 4 years, in ‘The Twilight Zone” EVERYTHING IS NORMAL
AND MAKES PERFECT SENSE!
No trades today in the TURNKEY PAMM / MAM.
And for those wondering why, reread the blog from the beginning and pay
attention … it’s been quite a while, but once I went 21 trading days without
making a trade and people thought I had died … it’s not quite that bad, but then
like now, strange shit appears and kills accounts, and then disappears never to
be seen again … so, this too shall pass … blog update on Sunday … until then
… Onward & Upward!!
-vegas
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