Now This Is Having A Bad Day
This entire day was just ugly; gold, currencies, stocks,
take your pick. All night and day I just got nickeled and dimed the whole time.
We had the dreaded “Flying Wedge of Death” in gold today, wrapped around $20
down, $18 up, and then $22 down with the obligatory $5 rally into the close to
trap some shorts once again. I managed to avoid most of it, and the few bucks
we did lose came about via slippage on fills [something that will hopefully end
when we leave HotForex].
The money lost today isn’t much in dollar terms; a few large
pizzas. What bothers me is the price action; long stretches of nothing and then
quick violent bursts. You are either in the train, or you are left standing at
the station; nothing in between. Up or down, it didn’t make any difference, as
they both came out of nowhere at different times in today’s trading session.
Currency pairs weren’t much better; just ugly action on both
sides.
What can I say really; the algorithm gave the signals and we
got our trades. When the market turned it went so fast that the small profits
we had on the trades were losers within a second. You just hope when you hit
the button the dealer isn’t going to take you out back and shoot you.
Tomorrow’s another
day.
Have a good day everyone.
-vegas
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