Words to Live By
If you haven’t read my other post, go do it now and then come back; it will give you some much needed perspective on today. http://vegasxau.blogspot.com
To be perfectly honest, I’m getting sick of dealing with side issues that have nothing to do with trading. For the last 3 – 5 weeks it has been something almost every day. It’s like every day I start by pulling a non-trading problem out of a hat.
“Here vegas, pick one!”
Today, I had to deal with the brokerage house over ridiculous gold spreads that lasted from the Asian open well into the U.S. session; over 13 hours. When I wanted to buy and get long the spread was $1.45.
You really want me to trade with $1.00 - $1.50 spreads? Sorry, can’t do it.
Problem has been fixed [so they say], but by the time they got off their collective butts and did something about it the day is shot time wise.
Crude oil? What they did today in crude is almost criminal; $2.40 / bbl spike in 2 minutes. If you were short, the only thing that could have saved you [in spot, not futures] was a stop; otherwise your account is probably gone.
The culprit? North Korea babble about firing a rocket. Unreal.
If these issues can just go away, the adjustments I have made with the algo to deal with this type of trading environment will produce some very good results. Today would have been a very profitable day if only. But that is water underneath the bridge; it’s only one day. Time to focus on next week and trading.
I need the weekend to cool off. I’m hoping yours is enjoyable. Have a good one everyone.
-vegas
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