USDJPY hurt her today … not much by money standards, but in “emotional
capital” … she stared into the abyss and it stared back … it’s what happens
when you don’t follow algorithm rules and then do “stupid shit” … many times,
“stupid shit” makes you money, but that doesn’t mean you did the right thing,
and it sets you up for a monkey hammering when it doesn’t work out the way
you want … she’ll recover cuz I showed her how to trade out of the trouble and
make the loss reasonable instead of outright horrible … live and learn baby, cuz
if you don’t it’ll happen to you again down the road at some point.
Today’s trade highlighted of course by the “set up” by the BOJ, where first
“Peter Pan" Kuroda gives his dry ball speech about BOJ monetary policy and how
it ain’t gonna change … that gave traders the false impression that the 145 level in
USDJPY was in play, and it got run hard up to the high of the day around 145.90
… then came the European open, and here comes the BOJ intervention, the first
time in 24 years … SHTF “bigly & yuge”, spreads get obliterated, slippage comes
into play, and down goes USDJPY, right down the rabbit hole … when the dust
settled, we’re some 500+ PIPS lower … if you want to call this a market today, go
ahead … it wasn’t of course, more like a casino slot machine … absolutely
nothing here favorable to any trader to be in this shit, as every metric is blown
apart by thieving, scumbag bank LP’s … and it took a long time to get trading
conditions back to normal … then after completely destroying USDJPY longs,
now it’s time for the shorts to experience bank pain, as we go on the yo-yo ride
straight up some 200 PIPS without so much as a fart for corrective activity
… only 2 scenarios where the trading algorithm will run into headwinds
… 1) a completely dead market, and 2) a market that goes straight up or down
with almost ZERO corrective activity … and today we got #2 in spades.
Time to set sail, but it’s not gonna happen when there’s a CAT5 hurricane called
the BOJ … bid/offer changes so chaotic, slippage out of control, there is no
reason you’d sail into this unless you’re certifiably nuts … 20 - 30 PIP changes in
price within seconds, hour after hour until we bottomed and headed straight up
… the YEN order book got destroyed today and that didn’t help things either
… we set sail tomorrow under somewhat “normal” conditions, unless the BOJ
has more “scumbaggery & fuckery” this evening and into the European open
… I doubt they do, but you never know … I’m a little surprised this action from
the BOJ came last night, and quite frankly it didn’t change anything from a
“fun-durr-mentals” perspective … yield differentials are way out of whack and
getting worse by the day and week … that doesn’t spell YEN strength, so I
wouldn’t say USDJPY is out of the woods just yet for further depreciation
… we’ll see.
NO trades today in the PAMM … out of control chaos almost the entirety of the
day, with very unfavorable conditions for traders … early on it was the bid/offer
that was way too high [2 - 5+PIPS, gimme a frickin’ break here!] and after that
settled down, slippage became the primary real issue for most … “Miss Gimpy”
was suffering some Hellacious slippage fills on USDJPY, and I told her that’s why
I was sitting on the sidelines … “I’m not putting up with that “DUH!, market
conditions, DUH!” bullshit these scumbags use as the defacto plausible
deniability on every shit fill off the market”.
What specifically bothers me about the way today went down in USDJPY, is the
way the BOJ sandbagged traders to get them to buy OVER 145, knowing full well
they were gonna come in later and destroy price … forget the Apparatchik bullshit
about the level of the YEN affecting the economy, cuz that’s simply pablum for
Chumps … THEY FRICKIN’ HATE SPECS WHO TAKE ADVANTAGE OF THEIR
IDIOTIC POLICIES AND MAKE MONEY OFF OF THEM … that’s their real gripe,
and today they got a big chunk of the money back in short order for their banks
and life insurers … what scumbags, but we already knew that beforehand, so
nothing new here.
And while I wasted a very good bottle of May 2022 grape juice christening the
PAMM sailboat [there goes $3.99 down the drain], one day ain’t gonna make a
difference in our voyage … especially when I can avoid all of the things that lead
to losses and getting hosed by scumbag bank LP’s … this was one of the worst
days I’ve ever seen for out of control trading conditions matched with above
normal VIX in USDJPY … just a complete joke … I’m absolutely not paying a high
spread and entertaining slippage that would make Vito Corleone blush with envy,
and wonder why the Hell his biz model didn’t include “trading” … he would
literally shit his “big girl panties” if he could see the blatant thievery going on
today … so while the VIX is off the charts, so are all of the negatives for us … no
worries, it’ll be here tomorrow and so will I to take advantage of it.
… OUTTA HERE … “The future’s so bright I need 2 pairs of sunglasses 😎😎,
and my own Brinks armored truck” 💓!! … Onward & Upward!!
-vegas
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