The trading world is essentially closed today, with crypto being the only thing
trading and it ain’t doing much of anything inside small ranges … FX open, but
spreads are blown out so it might as well be closed … with yesterday and today
so far giving me some time to do some statistical work, there are some numbers
that surprise me … directly below a table, which is essentially a trading
comparison of Yen versus GBP in this month of December … study it and give
it a good look!
I don’t think anybody is surprised Cable has [on average] larger daily ranges than
Yen … the table presents the average & median of the 8 hour period 12:00 - 20:00
server time at Turnkey, which is 5 AM EST - 1 PM EST] which comes very close to
the European session … then on the right each hour is broken down and the
average PIP range for the preceding hour is shown, the left side is GBPUSD and
the right side is USDJPY, separated by a hyphen … what’s surprising to me, is the
relative stability of Cable ranges, as reflected by m1 candlesticks [bid price]
REGARDLESS OF THE 8 HOUR RANGE … slow days, it still trades … fast days it
trades even better! … by comparison, USDJPY doesn’t even come close
most days.
What this doesn’t tell you are 1) range direction or amount, 2) whether the market
is “trading” or going up / down in a straight shot, or 3 ) if it’s going to speed up or
slow down … what it does say, though, especially for Cable is that it’s most likely
the best “trading” market day-in, day-out, from what I’ve seen and researched
… tomorrow and Sunday, between Christmas festivities, I’m going to be taking
the same look at USDCAD, a market I’ve traded in the past but not recently
… currently, it has approximately the same 20 Day Range MA as GBPUSD, and
I’ll be looking at the “Loonie” in December from 14:00 - 22:00 server time
[7 AM EST - 3:00 PM EST], simply cuz CAD primarily is a North American market.
We’ll see if it’s 1) better, 2) worse, or 3) about the same as Cable when it comes
to average m1 ranges over a 60 minute period during the day … bid / offer spread
at Turnkey is about the same, running about 0.7 PIPS on average during main
market hours … what I won’t be looking at are any non dollar crosses, simply
cuz the spreads are higher and they move extremely fast and are often one-way
shots up/down … the dollar pairs are where I want to be cuz they offer better
“trading” scenarios more often than crosses … I’ve learned that the hard way!
… I’ll have more details on Sunday’s blog update.
Now, I’m not jettisoning USDJPY, cuz it’s still a decent market when it has any
kind of VIX … but as you can see from the table above, when it dies, it doesn’t
fool around, it D.I.E.S. and goes into a shell where PIPS are hard to come by
… and once again, as I warned when I told everybody about trading the “Spoos”
[SP500], it’s a market that is highly prone to straight shots up / down that leave
people in the dust … and we’ve just seen 3 days of that! … if you let it, it will
frustrate the living shit out of you and you’ll want to throw your computer at the
Moon … when the “Spoos” trade, yea it’s good times, but you can’t buy rallies
and sell breaks in this market cuz it’s like playing a slot machine … you’re
gonna lose what you got.
Enjoy the Christmas Holiday, and give somebody a hug! … Merry Christmas
everybody … be back Sunday for the blog update.
… outta here … “The future’s so bright I need sunglasses!! 😎😎
… Onward & Upward!!
-vegas
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