Required Reading
“Hey, wait for me! I’m trying to get on this train.”
“Sorry man, train has left the station.”
Guess where you’re still standing?
I came into today’s trade quite bullish on gold; the problem I had was execution. I never wanted to pay up to be long when we got the “spikes out of nowhere”. As I wrote on the other post, these spikes/drops play havoc with the algorithm and the attendant signals.
I traded some WTI Crude Oil today, and in the days ahead will spend more time in this market. The intra day volatility is very good, the spread is consistently pretty tight at 0.05, and the market puts in a $1.50 - $2.00 + / barrel range almost every day: just what I am looking for in a market.
Today I focused more on Crude Oil than gold, getting my bearings and watching volatility action. It was a pretty slow day until late in the session when prices exploded $1 per barrel in 15 minutes. Like I said, I’ll be doing more trading in WTI.
While I made some pennies today, it was nonetheless frustrating dealing with a gold market that acted more like a psychotic teenage girl than a major functioning market.
“Welcome to trading today vegas, can I get you a cookie?”
“Errr, no thanks.”
The good news is that it was an opportunity cost, and there are an unlimited number of those in the days ahead. Still ………
Have a good day everyone. Tomorrow’s another day.
-vegas
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