MICRO SECOND TRADING

                            The World Can Be Crazy Sometimes

 “Oyyyyyyy”.

Somehow, someway, they almost always get the range in.

Play the range and be careful of reversal days.

I started the day in Asia trying to position trade a very small short position in gold. Of course, after a $100+ / oz. drop, I should have known from the bottom we were going to get a straight $40/ oz. rally. What was I thinkin’?

Meanwhile in crude.

Don’t look for me to be able to “explain” the action in crude oil. I refer, of course, not to the 22 hours it was open, but what happened from 2 PM to about 2:40 PM. Crude did almost nothing but rally 4, break 3, all night and day long. Then at 2 PM [Chicago time], in 23 minutes we double the range from 200 to 400 with a 200 tick rally; followed by a 100 tick break in 6 minutes; followed by a 50 tick rally in 17 minutes; and then the obligatory account destruction move of 90 ticks down in 2 minutes. And you wonder why I said in the manual not to initiate new positions after 2 PM?

But wait, it’s not finished just yet. We got another drop of 50 ticks in 1 minute at 2:58 PM just to put some icing on the cake.

“Ok, now that we killed your account, let’s go home!”

For most of the day I was bullish, but found it extremely difficult getting in at a decent price. As I said, it was “a new high by 5 ticks, and then a vicious break of 30 ticks” all day long. The market would correct, and then in a literal blink of your eyes, it was up 30 or 40 ticks. Well, now what?

Welcome to micro second trading.

Although I made money in crude today, it wasn’t enough to cover what I lost trying to position trade a short gold position. So, I lost a couple hundred bucks today. I’ll be at it again starting tonight.

Have a good day everyone.

-vegas