You can throw out the obvious dictators, thugs, & authoritarians dotting the
world landscape, it goes without saying they have no interest in their own
people’s welfare or prosperity … OK, what about so called “democracies”?
… name me one … JUST ONE! … world democracy where the Kleptocrats in
charge aren’t liars, sociopaths, psychopaths, hell bent on propaganda for the
masses, maintain a “soft” police state [for your own good, natch], rig elections,
employ powerful spy & intelligence agencies to monitor “enemies”, and
generally only care about lining their own pockets [and crony associates] at
public expense … “I’ll wait while the crickets chirp”!
Why is it so hard to embrace individual freedoms, honesty & integrity, and rising
levels of prosperity among the people who are in your country? … the answer is
EASY PEEZEE: “then you don’t need government, and without government
there’s no chance for graft, corruption, bribery, and influence peddling they are
known for and champion … yet, you keep voting for the asshats every election
cycle cuz why? … the promise of “free shit” … that’s how gullible and malleable
you are … and why should a corrupt, perverted, demented gasbag like
Preezy Idiot Boy ever change, when there are ZERO consequences for his
behavior? … you get the “leaders” you deserve, and that should tell you
something about the current state of affairs in the U.S. and your role in it … the
country is a reflection of its “leaders”, and that image should make you want
to puke!
Today’s FX market should also make you want to puke … quite frankly folks,
EURUSD as a short term trading pair isn’t gonna work … I can deal with LOW
VIX, I CAN’T DEAL WITH NO VIX! … sun coming up in New York, and EUR can’t
even get a range over 20 something PIPS … oh sure, someday it’ll move, but so
will Cable, GBPJPY, & CAD … can’t just sit here and watch this travesty … so
even though Cable and/or GBPJPY has its minor drawbacks, it’s better than CAD
most days, and we’ll trade that going forward … if Cable & GBPJPY dies to the
extent EUR has, then I’ll go directly to CAD … I don’t see that happening, but in
this environment you really never know … so here at early morning New York,
I’ve already switched over to Cable, watching GBPJPY closely, and left EURUSD
for the birds to pick over.
Multiple algo trades in GBPUSD for the Turnkey PAMM … DOWN FRACTIONALLY
ON THE DAY.
Not real happy with Cable fills today, but it is what it is … nothing to kill over, but
still … we had one “false positive” signal, and that liquidation fill I give a D-
… other than that fills OK … tomorrow sees me in GBPJPY for a number of
reasons besides generally having a larger 20 Day Range MA … 1) bid/offer spread
is essentially the same as straight up Cable, so we pay basically ZERO for the
cross, 2) market is “tighter” than straight up Cable, with generally less slippage,
and 3) the cross moves more “pure” than the Cable dollar pair … every pair has its
moments, but when you look at any non dollar cross, if you trade that cross from
ONE SIDE ONLY, then out of 4 probabilistic events [2 for each pair, up/down], 3 out
of the 4 are positive for you … only 1 is negative … that’s a 75 / 25 or 3/1 edge,
versus the 50/50 from a straight up dollar pair [up or down] … quite frankly, I
should have been in this pair after I jettisoned EUR, but thought “risk off” would
send USDJPY lower [Yen higher], and with Cable falling that would be the 1 event
that’s not good … instead, both Cable & Yen moved lower with higher U.S. 10 YR.
yields, and the cross had a very nice rally off the lows post NYSE open … that’s
what I get for “thinking” … lesson learned, just look at the chart and go from
there, the algorithm has your back! … the “London Fix” today a non event.
Meanwhile over in crypto, hide the children … just a little after the “London Fix”
and BTC has a greater than $10,000 range for the day to the downside … ETH
getting beaten up as well … various theories flying around as to why the
“Thelma & Louise” treatment today, with no clear cut reason being the catalyst
other than pure technicals … meaning, support levels getting breached and
setting off sell stops that have cascaded on top of each other all the way down
the rat hole … there for 1 minute, BTC went down from 46,000 to 43,000, a pure
selling panic … when those last stops were done, right back up to 46,000 within
a few minutes … quite frankly, IMHO, this was a classic “whale driven stop hunt”,
and who knows how many millions or billions down AT OR NEAR THE LOW, they
bought everything in sight!
Today offers a clear lesson in non dollar FX cross trading … a lesson even
“old dogs” who’ve been around a long time can take to heart and remember
… and that is, “take nothing for granted and simply watch the chart”! … if I had
done that, we’d be up some good dinero today … nothing like being reminded!
… onto tomorrow!
… outta here … “the future looks so bright, I need sunglasses”! 😎
… Onward & Upward!!
-vegas
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