Computer Is Sick, But I Feel Better
If any of you were trading since last night, you would have noticed the HotForex liquidity provider in gold [XAUUSD] was playing games. All through the night and into the U.S. session I had a $0.70 - $1.00 spread in gold in my order box. Normally it is around $0.35.
I’m not handing free money to the dealer evahhhhhhhh.
The problem was eventually fixed, just as the gold market started to break on cartel European Bank selling [see my other post for details]. After the low was put in, we caught a little of the upside after the algo gave the “buy signal” with a normal spread, but once in this first position, the spread immediately widened again to about $0.70. I immediately exited the position with a small profit because I had no idea if we were going back to stupid spreads, and if the market had broken lower again I didn’t want to be forced out with a large spread.
Thankfully it was anomaly, and spreads stabilized around $0.35 within a minute or two. Meanwhile though, gold was racing higher by the minute. When I sensed an assault by the dealers on the high to take out buy stops, I got long again and sold a few minutes later at a small profit.
For 6 days we can’t get the gold market to touch the aqua lines, and now within 50 minutes it touches the bottom and top aqua line. Thank you Central Planners.
I’m still seeing red over the crap I had to deal with today; I’ll get over it and move on but I’m worried my hard drive might take it personally.
One thing about being a professional trader for over 30 years; that is the humungous number of times you look skyward and ask God if the circus is hiring. Thankfully, there not.
Have a good day everyone.
-vegas
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