All you can do is laugh, otherwise you’d be crying … iteration number, pick a large
one will ya? … Fourth day in a row of straight up, straight down, or vice versa and
absolutely nothing in between … and when I say “nothing”, unless you somehow
think a 10 PIP correction in any up/down move over 1 - 4 minutes is defined as a
“correction” that has statistical significance in a volatile cross like Cable/Yen, I
mean there aren’t any entry points for trades … goes straight up, there’s no break
to buy, and when it goes down, there’s no rally to sell … everything turns on a
dime.
Topping today’s clusterfark of trading, was first the BOE and the hint that they’re
considering “NIRP”, or negative interest rates … “sure, why not, cuz it’s worked so
well in Japan over 30 years, right?” … Cable/Yen not liking the sound of that, and
it’s “Thelma & Louise” in the blink of your eyes … we hit the bottom and now it
rallies, and the predictable second clusterfark arrives with an E.U. Apparatchik
telling the financial MSM, that he’s “convinced” a BREXIT deal is in the cards in
“his opinion” … well, isn”t that special? … and another mistress fund gets funded
in seconds, as Cable goes orbital, about 80 PIPS in seconds … Bingo! Bango!
Boom!, there ya go the 4th day in a row of complete absurdity, and we sit almost
exactly where we opened Sunday night to start the week … what a joke.
No trades today in the TURNKEY PAMM / MAM.
No trades cuz no signals … how do you expect me to get buy/sell signals when all
it did was go straight up or straight down? … the algorithm was in both sell mode
& buy mode today … wouldn’t give me a place to get short going down, and
wouldn’t give me a place to buy going up … it is what it is, nothing I can do about it,
but I will say I’ve never seen anything like this, where everything is literally straight
up/down for days in a row, and we haven’t even moved anywhere! … and now that
Europe is closed [somewhere between 1800 - 1900 server time], and both sides of
the order book … AGAIN! … has been cleaned out by “scumbaggery” by the usual
suspects, pretty much all of FX, including GBPJPY, will go “sleepytime” in 3 … 2 …
1 … and when it does you’re toast, cuz it won’t move 5 PIPS one direction or the
other, and the slippage is sure to go higher cuz we’re talkin’ about scumbag LP
New York banks … and so the trading day, unless you’re nuts and want some kind
of trading “death wish”, is over.
Another day in the wonderful world of “The FX Twilight Zone”, where for the last 2
months at least, it’s only trading action that has the lowest probability events
associated with them that are seen during the trading day … and although the
daily ranges haven’t been hugely abnormal, and IVIX INDEX levels are well
behaved with good volatility, it’s the straight up/down trading action with impunity
that is a head scratcher … cuz in this specific environment, you have to buy rallies
and/or sell breaks, and if you do that, you’re seriously on the way to account
destruction … not “if” but “when” … and this is something I NEVER do. Well, it
all is what it is, and I was at the ready today on both sides of the market
… “Sorry!, NO NOT Sorry"!, says the market, almost as if it had a personality
begging you to join and buy the rally or sell the break … and for the 4th day in a
row [really 5 if you count last Friday as well] account destruction is on the agenda
if you get an opinion and get pig headed … “oh, it has to go down cuz BREXIT
news is bad! … really? … Oh, it has to go up cuz … well cuz! … really? … as I’ve
said before, it’s all about order flow and spec positioning, with the scumbag
banks directing the flow … and lately, when they flip it around, they take no
prisoners"! … this too shall pass.
Normally, the trading signal algorithm will throw off many, many buy/sell signals,
ESPECIALLY in a volatile & active non dollar cross like GBPJPY … but it can’t
cover 100% of the trading action, only about 99.7% of projected price flow … we’ve
just had 5 days in a row of complete 3 days out of 1,000 probability hand us
NADA!! … BUT WE GET 5 IN A ROW? … YUP … “OK Queen of Hearts, you got my
attention down here in “rabbit hole” land, what next FOR CRYIN’ OUT LOUD?
… Quite frankly, this directly below comes to mind … “How many of you would
play, with 36 to 1 odds of hitting the number “19”, this many times in a row? … yet,
here it is”!
Hopefully, with the FED & BOE idiocy out of the way, maybe tomorrow can see
some kind of “normalcy”? … “I can dream can’t I?” … would be nice … Welp!,
nothing to do but tighten up the “big girl panties”, keep my eyes open, and head
into Friday.
Outta here … until tomorrow … Onward & Upward!!
-vegas
No comments:
Post a Comment